Hertz Clarifies Total Revenue Per Transaction Day Calculation

PARK RIDGE, NJ--July 31, 2013: Hertz Global Holdings, Inc. (with its subsidiaries, the "Company" or "we"), today provided additional information with respect to the calculation of total revenue per transaction day ("total RPD")(1). We introduced the total RPD metric in the first quarter of 2013. We want to remind you that for our car rental segment, our total revenue includes revenue from fleet subleases, Donlen leasing transactions and licensee transactions, among other items. This was disclosed in our first quarter Form 10-Q in the MD&A revenue - car rental segment section along with the actual dollar amounts for each of these items.

For purposes of calculating total RPD we excluded revenue from Donlen leasing transactions and currency effects, as disclosed in table 7 of our earnings press releases. Total RPD for the second quarter does include the positive impact of the sublease fees. However, it also includes the negative impact of year over year changes related to mix, rental length and franchised divestitures. Total revenue for the second quarter included $22.2 million associated with vehicles leased to Franchise Services of North America (FSNA) in connection with the Company's sale of Advantage which was only 1% of our worldwide car rental revenue, excluding Donlen.

Given the unique and temporary nature of the sublease revenue, and to provide clarity, we will not include it in our total RPD calculation going forward. If we didn't include this $22.2 million of vehicle sublease revenue for the second quarter total RPD, as compared to the prior year, would be as described in the table below.

Three months ended June 30, 2013

As reported

YoY%

Excl. sublease

revenue

YoY%

Worldwide total RPD (Table 4)

$48.58

1.2%

$48.10

0.2%

Domestic (Table 4)

$46.78

3.1%

$46.13

1.7%

U.S. Hertz Airport (Slide 9)

$54.41

3.6%

$52.99

0.9%

U.S. Hertz Airport - Commercial (Earnings call)

*

1.8%

*

-0.9%

U.S. Hertz Airport - Leisure (Earnings call)

*

4.4%

*

1.7%

* Data not provided

(1) Total RPD is a non-GAAP measure. See the accompanying Tables and Exhibit for a reconciliation and definition and the reason the Company's management believes that this measure provide useful information to investors regarding the Company's financial condition and results of operations