Q4 & FY 2009 Earnings Call Wednesday February 24, 2010 10:00 a.m. ET Dial In: (877) 531-2989 (US) (612) 332-0637 (International) Passcode: 145795

Safe Harbor Statement Certain statements made within this presentation contain forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not guarantees of performance and by their nature are subject to inherent uncertainties. Actual results may differ materially. Any forward-looking information relayed in this presentation speaks only as of February 24, 2010, and the Company undertakes no obligation to update that information to reflect changed circumstances. Additional information concerning these statements is contained in the Company’s press release regarding its Fourth Quarter and Full Year 2009 results issued on February 23, 2010, and the Risk Factors and Forward-Looking Statements sections of the Company’s 2008 Form 10-K and on the Company’s quarterly report on Form 10-Q for the three months ended June 30, 2009. Copies of these filings are available from the SEC, the Hertz web site or the Company’s Investor Relations Department. 2

Non-GAAP Measures Definitions and reconciliations of these non-GAAP measures are provided at the end of the presentation. The following non-GAAP measures will be used in the presentation: 3 • Same Store Revenue Growth • Adjusted SGA Rental Related Revenue • Adjusted DOE • Equipment Rental and • Corporate Restricted Cash Per Transaction (RPT) Car Rental Rate Revenue • Total Net Debt Transaction Day (RPD) and Car Rental Rate Revenue Per • Net Fleet Debt • Car Rental Rate Revenue, • Net Corporate Debt Flow After Fleet Growth • Levered After-Tax Cash • Adjusted Diluted Earnings Per Share Flow Before Fleet Growth • Adjusted Net Income • Levered After-Tax Cash • Adjusted Pre-Tax Income • Total Net Cash Flow • Corporate EBITDA with Fleet Debt • Restricted Cash Associated • EBITDA

Agenda Industry & Strategic Overview Mark Frissora, Chairman and CEO Financial & Operating Results Overview Elyse Douglas, Executive VP and CFO Outlook Mark Frissora, Chairman and CEO Question & Answer Session 4

Consolidated Financial Results Definitions and reconciliations of these non-GAAP measures are provided at the end of the presentation. 5 $593.1 $733.4 $1,767.0 $29.8 Total net cash low $167.7 $183.4 $430.5 $5.3 Levered after-tax cash flow after fleet growth 325.5 407.7 325.5 407.7 Adjusted diluted number of shares outstanding $0.42 $0.29 ($0.22) $0.06 Adjusted diluted earnings / (loss) per share 12.9% $1,100.2 13.8% $979.9 6.5% $116.9 12.7% $221.0 Corporate EBITDA 1.6% $135.7 1.6% $116.6 -4.1% ($73.0) 1.3% $22.5 Adjusted net income / (loss) 2.8% $237.2 2.8% $198.9 -5.8% ($103.7) 2.3% $39.2 Adjusted pre-tax income / (loss) % of Rev FY 2008 % of Rev FY 2009 % of Rev Q4 2008 % of Rev Q4 2009 Non-GAAP $2,544.2 $1,775.0 $614.3 $516.3 Net cash provided by operating activities 322.7 371.5 323.0 410.0 Weighted average number of diluted shares outstanding ($3.74) ($0.34) ($3.77) ($0.08) Diluted earnings / (loss) per share -14.1% ($1,206.7) -1.8% ($126.0) -68.1% ($1,218.0) -1.8% ($30.9) Net income / (loss) -16.2% ($1,382.8) -2.4% ($171.0) -80.8% ($1,446.2) -3.9% ($67.4) Pre-tax income / (loss) $8,525.1 $7,101.5 $1,788.7 $1,740.7 Revenue % of Rev FY 2008 % of Rev FY 2009 % of Rev Q4 2008 % of Rev Q4 2009 GAAP ($ in millions, except per share calculations)

Full Year 2009 Operating Review Total cost savings $760 million, exceeded $620 million target Demonstrated fleet, labor & location flexibility WWRAC fleet reduced by 9.7%; transaction days down 8.0% Added Advantage leisure brand to augment diversified portfolio Already gained 1% of U.S. airport market share since April acquisition Acquired equipment rental assets in less-cyclical industrial markets Invested in technology to enhance customer experience while reducing costs Refinanced $3.2 bln of U.S. fleet debt early, at favorable rates & terms Raised $990 mln of capital through convertible debt & equity transaction Worldwide RAC customer satisfaction score +20% in 2009 over 2008 6

Q409 Consolidated Highlights 7 Consolidated Q409 revenue decline moderated to -2.7% vs. -15.7% Q309 Strong Christmas leisure demand Recovering corporate travel volumes Growth in off-airport products: leisure, monthly, insurance replacement Stabilizing volume trends in equipment rental (HERC) end markets Industry leading cost management Q409 cost savings (Lean Six-Sigma) = $224 million Adjusted direct operating expense down 430 bps from Q408 Adjusted SGA down 860 bps year-over-year Improved quarterly profit margins Adjusted pre-tax margin: 2.3%, up from negative 5.8% in Q408 Corporate EBITDA margin: 12.7%, up from 6.5% in Q408

Q409 U.S. Rent-A-Car 8 U.S. RAC – Airport Leisure RPD +9.6% (largest airport segment) +2.5% rental rate revenue, driven by +7.1% off-airport rental rate revenue Recovering corporate travel revenue, improving monthly since Aug. 2009 Q409 corporate revenue: -7.0% vs. lows of -26% experienced earlier in 2009 December 2009 corporate revenue +1.3% +1.8% in revenue per day (RPD), driven by: PRICING: Airport leisure pricing +9.6% MIX: Off-airport transaction days +8.0% Airport transaction days -2.6% Fleet right-sized for demand 1.1% increase in revenue per vehicle Fleet size proportionate with increase in transaction days Used car residuals @ normal levels, strength expected to continue Improved profit margins 10.7pps increase in adjusted pre-tax margin from Q408 only 0.5pps lower than Q407 margin on 11.5% less revenue Double-digit increase in Corporate EBITDA margin from Q408

Q409 U.S. RAC Revenue Mix by Category On-Airport 73% of US RAC revenue Off-Airport 27% of US RAC revenue Q409 Avg. Daily Rate $44.45 $48.80 $30.00 $26.59 $24.86 $39.88 9

Europe Rent-A-Car Q409 10 Europe’s economy slowly improving, but still fragile Corporate RPD positive yoy for first time in 2009 Europe Rent-A-Car demonstrated outstanding cost management Streamline & consolidate regional operations Centralize work functions Delayer organizational structure Reduced adjusted DOE & SGA by 9.9% in Q409 vs. prior year Improved monthly net depreciation per unit by 17.5%, due in part to stabilizing used car residuals Adjusted pre-tax income up 15.8 pps on 7.2% rental rate revenue decline

Q409 Hertz Equipment Rental (HERC) 11 HERC Corporate EBITDA Margins Worldwide Hertz Equipment Rental Volume down 24.2%, improved +450bps from Q309 Pricing down 9.5% due to excess fleet and competitor discounting Focused on profitable expansion National accounts; Yield management Pockets of recovery: Florida (commercial construction) & Canada (industrial) Entered JV with Dayim Holdings of Saudi Arabia (construction & petro-chem) Maintained industry-leading Corporate EBITDA margin of 40.5% Q1:10 will be lower, most difficult quarter of year

Diversified Growth Strategies Connect by Hertz – hourly / urban New locations opened in Madrid & Berlin 5 new universities added in Q409, now available at 17 schools U.S. pre-paid rentals - value conscious $18.2 million in revenue Q409 $81.9 million in revenue since Dec ‘08 launch Advantage Rent-A-Car - leisure segment +$100 million run rate revenue for 2009 (acquired 4/09) Profitable with 25 top leisure airport locations Achieved 1% U.S. airport market after 8 months in operations Off airport – leisure, local business, monthly, ins. replacement 11% share in $10 billion domestic market Multi-month rentals (leasing alternative) +24.2% in revenue Q409, +14.4% FY09 Insurance replacements revenue +12%, represents 25% of total off-airport Yield Management Up-selling: car classes, DVD players, ski racks, child seats 15% increase in Q409 ancillary revenues, program being initiated off airport 12 TOTAL MOBILITY SOLUTIONS PROVIDER

Q409 Consolidated Financial Results Adjusted DOE and SG&A lower by 4.3% and 8.6% yoy, respectively in Q409 Focus on aligning operations to market conditions 25% lower damage costs in worldwide rental car process efficiencies drove 8% lower corporate staffing levels 4.2% higher labor productivity in the quarter (total company rental revenue per employee) Europe VAT refund reduced direct operating and interest expense by $8.2mm and $10.3mm, respectively 13 82.2 million more shares, mainly due to May equity offering Q409 adjusted pre-tax income +138%, margin +800 bps, Total revenue -2.7% yoy $1,767.0 $29.8 Total net cash low $430.5 $5.3 Levered after-tax cash flow after fleet growth 325.5 407.7 Adjusted diluted number of shares outstanding ($0.22) $0.06 Adjusted diluted earnings / (loss) per share 6.5% $116.9 12.7% $221.0 Corporate EBITDA -4.1% ($73.0) 1.3% $22.5 Adjusted net income / (loss) -5.8% ($103.7) 2.3% $39.2 Adjusted pre-tax income / (loss) % of Rev Q4 2008 % of Rev Q4 2009 Non-GAAP ($ in millions, except per share calculations) 82.2 B-A = B (Non-GAAP used for 2009) 407.7 Non-GAAP Adjusted Diluted Number of Shares Outstanding @ 12/31/09 85.0 Equity Offering in 2009 (Non-GAAP shares originally used for 2009) 322.7 GAAP Diluted Weighted Average Shares Outstanding @ 12/31/08 A (Non-GAAP used for 2008) 325.5 GAAP Diluted Weighted Average Shares Outstanding @ 12/31/07

FY09 Consolidated Financial Results Definitions and reconciliations of these non-GAAP measures are provided at the end of the presentation. FY09 adjusted pre-tax income decreased $38.3mln on $1.4bln revenue decline Adjusted diluted EPS beats guidance due to: Greater that expected RAC demand Offset expected weakness in equipment rental 14 $593.1 $733.4 Total net cash low $167.7 $183.4 Levered after-tax cash flow after fleet growth 325.5 407.7 Adjusted diluted number of shares outstanding $0.42 $0.29 Adjusted diluted earnings / (loss) per share 12.9% $1,100.2 13.8% $979.9 Corporate EBITDA 1.6% $135.7 1.6% $116.6 Adjusted net income / (loss) 2.8% $237.2 2.8% $198.9 Adjusted pre-tax income / (loss) % of Rev FY 2008 % of Rev FY 2009 Non-GAAP ($ in millions, except per share calculations) $0.21 - $0.23 Adjusted Diluted EPS $950 -$960 mln Corporate EBITDA $155 - $165 mln Adj. Pre-Tax Income $7.0 - $7.1 bln Revenue Full Year 2009 Guidance

Rent-A-Car Stats 15 2.7% -10.4% 1.2% -8.0% -1.4% -9.4% Worldwide 1.9% -10.0% 3.5% -8.3% 1.5% -6.9% Other Int'l 0.7% -11.2% -0.9% -10.5% -1.6% -11.9% Europe 3.5% -10.2% 1.9% -7.1% -1.6% -8.5% US RAC Length (Days) Transactions Revenue Per Transaction Transaction Days RPD Rental Rate Revenue FY09 vs FY08 -0.5% -1.4% 0.9% -1.9% 1.4% -0.5% Worldwide 0.2% -8.5% 5.9% -8.3% 5.7% -3.1% Other Int'l -0.1% -6.6% -0.7% -6.7% -0.6% -7.2% Europe -0.2% 0.9% 1.6% 0.7% 1.8% 2.5% US RAC Length (Days) Transactions Revenue Per Transaction Transaction Days RPD Rental Rate Revenue Q409 vs Q408

Q4 & FY09 Worldwide Rent-A-Car 16 Q409 Adjusted pre-tax margin: 6.6% or on 3.4% higher revenue (flat excl. FX) Improved leisure demand in U.S. & EU RAC Reduced total adjusted DOE & SGA by 1% yoy Fleet depreciation & interest 17.6% lower yoy Corporate EBITDA: +$153.2 mln, 8.0% margin Table 3 press release FY09 Revenue declined $879.2mm; adjusted pre-tax profit increased $176.2 mln Revenue lower by 12.8% yoy; down 10.5% in constant currency 7.8% adjusted pre-tax margin vs. 4.2% in 2008 & 8.7% in 2007 Total adjusted DOE & SGA 14.3% lower than 2008 Fleet depreciation & interest 18.9% lower 9.4% Corporate EBITDA margin, or $157.3 mln profit improvement

Rent-A-Car Fleet Efficiency Fleet efficiency: % of days car is rented compared with avg. number vehicles available to rent. Formula: ((Annualized Transaction Days / 365) / Average Fleet)) 17 Average Worldwide Fleet, units FY09 Worldwide fleet efficiency up 140 bps to 78.4% Q409 refreshed fleet with favorable OEM deals Q409 return of corporate (shorter length) traveler Strategic fleet management & planning Increasing use of non-auction sales channels Dealer-direct now 18% of all U.S. risk car sales, up from 2% in FY07 U.S. auction sales 67% of total FY09 vs. 85% in FY07 Retail / online auction -- cars on rent up until the day purchased Worldwide RAC Fleet Efficiency

Rent-A-Car Fleet Depreciation 18 US RAC Monthly Depreciation Per Car Worldwide monthly rental car net depreciation continues to improve Q409: down 10.1% yoy, FY09: down 3% yoy Q409 U.S. monthly rental car net depreciation down 14% yoy, FY09 down 4.3% Strategic fleet management strategy lowers 2010 fleet life-cycle holding costs Higher-return used-car channels; 33% of Q409 U.S. risk cars sold outside auction Europe’s monthly net depreciation per car improved 17.5% in Q409 vs. Q408 FY09 monthly net depreciation increased by 6.7% yoy - Impacted by government new-car incentive programs & slower economic recovery -14% 9.5 9.2 Average Age (months) Total Fleet 66% 68% Risk % Worldwide 9.0 11.1 Average Age (months) Total Fleet 71% 71% Risk % International 9.7 8.5 Average Age (months) Total Fleet 64% 67% Risk % US Q408 Q409 Fleet Age & Mix

Hertz Equipment Rental (HERC) Q409 revenue -26.1% yoy, better than Q309 -35.2% Pricing still pressured: -9.5% vs. -8.6% in Q309 Volume trends improving: -24.2% vs. -28.7% in Q309 Revenue diversification strategy Strategic acquisitions in industrial markets Entertainment & Energy Services RAC off-airport facilities at HERC locations Focused cost management Work hours reduced, furloughs mandated Closed or consolidated net 23 underperforming locations in ‘09 Continued roll out of Lean Six Sigma cost savings programs Q409 adjusted pre-tax margin +9.4% On 26.1% revenue decline 19 Total HERC Locations Total HERC Headcount -20% - 6% 30.2% 31.2% 34.6% Fragmented 19.7% 22.8% 23.9% Industrial 50.1% 46.0% 41.5% Construction Q407 Q408 Q409 North America Revenue Diversification

HERC Fleet Residuals (Dec. ‘09 OLV Rouse Data): +1.6% from 11/09 Average fleet age: 45 months, +2.5 months from Q309 Purchase new equipment in 2010 as commercial construction begins recovering FY09 Adjusted pre-tax income margin: 6.9% FY09 Corporate EBITDA margin 41.3% 20 WW HERC Fleet Size ($ in millions) ($ in millions)

WW HERC Fleet 21 ($591.5) ($399.4) ($196.5) ($56.4) Disposals (1st Cost Basis) (Table 6: "Equipment rental fleet growth capital expenditures") ($492.7) ($343.4) ($215.1) ($58.2) Fleet Capex, net $2,147.2 $1,811.5 $2,147.2 $1,811.5 Ending Fleet (Table 6: "Equipment rental maintenance capital expenditures, net") (312.3) (294.4) (80.3) (65.8) Depreciation, net (447.6) (137.6) (160.6) (21.9) Disposals 267.3 88.6 25.8 29.5 Additions $2,639.9 $2,154.9 $2,362.3 $1,869.7 Beginning Fleet FY08 FY09 Q408 Q409 ($ in millions) WW HERC Fleet Change (net book value basis)

2010 Refinancing Update U.S. Completed Maturities Growth $5.0 $0.8 $4.2 $2.1 $1.2 Estimated 2010 Refinancing Needs U.S. Amend & Extend 2009 ABS $1.7 Remaining 2010 Need ($ in billions) International Opportunities Asset backed securitization Secured bond offering Revolving asset-based loan Leasing structure 22

Interest Expense 23 2010 total interest expense expected to be ~$90 to $110 mm higher vs. 2009 Increase in rates as we refinance balance of the fleet debt Full year’s interest impact from May 2009 convertible debt issuance Higher fleet debt to fund growth in rental car fleet to meet expected demand Increase in floating base rates, such as LIBOR Q409 Interest Expense Bridge Global fleet debt advance rates expected to be lower by 9 pts vs. December 2009 Net Fleet Interest ($ in millions) Q408 net fleet interest expense $148.4 Reduced car rental fleet levels - Lower LIBOR rates - Interim paydown of fleet debt - Prefunding of 2006 ABS notes ahead of maturity + Q409 net fleet interest expense $99.9 Net Corporate Interest Q408 net corporate interest expense $80.0 Smaller HERC fleet, less ABL borrowings - $150 mln HY note buybacks - Lower LIBOR rates - Issuance of convertible debt in May 2009 + VAT Refund + Q409 net corporate interest expense $70.3

Restructuring | Taxes Restructuring & restructuring-related charges $34.5 million Q409 of which $26.1 million was cash Severance expense, location closing costs, loss on surplus fleet sale $153.3 million in FY09 vs. $242.5 million in FY08 Anticipate less than $50 million in restructuring expenses for 2010 Q409 cash taxes paid: $10.6 million vs. $10.8 in Q408 FY09 effective tax rate of 34.9% FY09 cash taxes paid were $31.3 million vs. $33.4 million a year earlier. 2010 cash taxes expected to be $40 to $47 million in 2010, higher due to improved profits Annual adjusted tax rate assumed = 34% 24

Corporate Covenants Full compliance with all corporate covenants 3.85x (Max 5.00x) on consolidated leverage ratio 3.16x (Min 2.25x) on interest coverage ratio NOTE: Covenant calculations do not include Convertible Notes issued under Hertz Global Holdings in May 2009, since covenants only apply to The Hertz Corporation results. 25 Corporate Debt Covenants 2009 2010 - 2012 Q4 Q1 Q2 Q3 Q4 Leverage Ratio (Max) 5.00x 4.75x 5.25x 5.25x 4.75x Interest Coverage Ratio (Min) 2.25x 2.25x 2.00x 2.00x 2.25x

Corporate Liquidity @ 12/31/09 ($ in millions) Unrestricted Cash: $ 986 Corporate Revolver: 925 Corporate Liquidity: $1,911 Cash Flow & Liquidity 26 ($ in millions) Net Corporate Debt Levered Cash Flow Less car sales in Q409 vs. Q408 Defleeted modestly due to higher demand Investing to refresh fleet Reduced net corporate debt by $900+ million since Q406 Levered After-Tax Cash Flow After Fleet Growth Q4 09 Q4 08 Change 5.3 $ 430.5 $ (425.2) $ FY 09 FY 08 Change 183.4 $ 167.7 $ 15.7 $ End of Period Fleet Level Q308 Q408 Change 426,476 374,931 (51,545) Q309 Q409 Change 420,067 407,737 (12,330)

Current Trends & Outlook 27 The International Monetary Fund expects 2010 to be a year of transition and modest growth, reflecting a 3% gain in U.S. GDP. IMF forecasts less than 1% growth in Europe this year; in a few countries recession to continue. Pursue targeted growth initiatives and reinvest to support future expansion. Further develop global presence in India, China and the Middle East. Evaluate acquisition opportunities with attractive valuations. Maintain disciplined pricing practices and leverage power of our brands. 2H10 should benefit from easier yoy comps for equipment rental & renewal of demand for industrial equipment as deferred projects are reinitiated

2010 Guidance & Assumptions Total Revenues: $7.4 to $7.6 bln RAC revenues grow 2X GDP, U.S. improving more than Europe HERC faces most difficult quarter in Q1 with pricing pressures expected to continue Should see sequential monthly volume improvements throughout 2010 Corporate EBITDA: $1.045 to $1.06 bln Adjusted EPS: $0.37 to $0.39 Based on full year diluted share count of 410 million in 2010 Adjusted pre-tax income: $250 to $265 mln 2010 U.S. net fleet depreciation lower by 4%-5% $300 million in incremental cost savings offset: $18mm from restoration of Q209 wage cuts $5mm in reinstated 401(k) matching & tuition reimbursement $16mm from merit increase restoration in Q210 ~35% increase in global marketing $90-$110 mln increase in interest expense Adjusted pre-tax margin improvement in 2010 28

2010 Upside Opportunities Upside in volume and pricing in WW RAC and in global cost efficiencies 29 1) 1.0% of total cost base excluding net depreciation ($ in millions) 2010 Pre-tax Approximate Opportunity Guidance with 1.0% Assumptions Improvement WW RAC Pricing 0.6% $50.0 Volume (Days) 7.4% $18.0 Net Depr per Unit -4.6% $16.0 WW HERC Pricing -0.2% $10.0 Volume -2.0% $4.0 Cost Efficiencies $300.0 $54.0 (1) Total Opportunity per 1.0% Improvement $152.0