Industry Update

October 4, 2013

Jeff Coggin

Assistant Vice President, TMC Sales

for World Travel, Inc.

Why Grow?

Economies of scale – Increased efficiency

Easier access to capital and other resources

Shark Tank: “The big guys will crush you.”

Opportunities for personal and/or career development

Job security

Human nature – always striving to do more

The definition of Success

Car Rental Industry Post 9/11 industry

˗ National/Alamo: Private Equity

˗ Avis/Budget: Public

˗ Hertz: Private Equity then Public

˗ Dollar/Thrifty: Public

2007: Enterprise acquires National and Alamo˗ Family Owned

˗ Now almost 50% of the overall market

˗ EHI share with World now 51.5% up from 35.3%

Key factors in success˗ Get team on board

˗ Share plans broadly

˗ Integrate cautiously

˗ Protect the culture

˗ Gain trust

About Our Company

$15.4 billionin annual revenue

74,000employees

1.3 millionvehicles

8,200neighborhood and airport locations

Ranked #20on Forbes list of America’s Largest Private Companies

BBB+, Baa1only investment-gradecar rental company

U.S. Market Shares: $23.6B

Source: Auto Rental News (2012)

Hertz Acquires Dollar Thrifty

April 2010: Hertz bids $41 per share for DTG

July 2010: Avis bids $46.50

September 2010: Avis bids $48, Hertz bids $50, Avis bids $53

˗ Hertz ends pursuit of DTG

˗ Period of regulatory challenges (Avis)

May 2011: Hertz bids $72

September 2011: Avis withdraws

October 2011: Hertz withdraws

August 2012: Hertz finalizes deal at $87.50 per share ($2.3 billion)

˗ Hertz divests the Advantage brand

2006 on-airport market positions

Source: Airport Authorities; 99% of airports reporting for June ‘12

2012 on-airport market positions

U.S. Airport Market Shares

Industry Growth/Acquisition

Avis

˗ June 2011: Acquires Avis Europe for $1 billion

˗ January 2013: Acquires Zipcar for $500 million

˗ July 2013: Acquires Payless for $50 million

˗ August 2013: Acquires 50% stake in Brazilian licensee ($50 million)

Hertz

˗ July 2011: Hertz rebrands car sharing to Hertz On Demand

˗ April 2013: Investment in China Auto Rental

˗ August 2013: Expands Firefly brand to US

˗ 20 locations by the end of this year

Enterprise Holdings, Inc. Car Share

˗ August 2011: Philly Car Share

˗ May 2012: Mint Cars On-Demand

˗ May 2013: IGO CarSharing

˗ July 2013: Zimride

November 2011: Acquire Citer (France) and Atesa (Spain)˗ Network re-branded to Enterprise February 2013

˗ Complements existing network in the United Kingdom, Germany and Ireland

March 2012: Strategic Investment in eHi Auto Services - China Expansion in to the following countries:

BulgariaCroatiaCyprus

MacedoniaMoldova

MontenegroRomaniaSerbia

BrazilPolandPeru

TurkeySlovakiaGreeceJamaicaAlbania

Czech RepublicBritish Virgin

IslandsUruguay

ItalyPortugalBosnia &

Herzegovina

NetherlandsTurks & Caicos

AustriaHungary

Cayman IslandsSlovenia

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Citer/Atesa Re-Brand

Europcar Strategic Alliance

2007 – Europcar gains license to National marks in EMEA

2008 – Enterprise Holdings enters into a Strategic Alliance with Europcar

August 2013 – Strategic Alliance expires, Europcar continues to have the rights to use the National marks under certain conditions

The Drive Alliance

Two Global Brands. 8,200 Global Locations. More Than 40 Countries and Territories.

Countless Opportunities to Serve You.

Whether you need a car around the corner or around the globe, the Drive Alliance has you covered.

European Car Rental Market: $12.5B

Coverage Summary

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Emerald Club and Enterprise Plus loyalty programs are linked by the Drive Alliance

• Members can earn at any National or Enterprise location in the U.S. and Canada

• Members can earn at any Enterprise location in Europe

• All credits earned will reward customers with free days and higher tier status within the club

• Free Days Can be Redeemed at any National location in North America

• Members can earn at any Enterprise location worldwide.

• All points earned will reward customers with free days and higher tier status within the club

• Free Days can be redeemed at any Enterprise location in North America

• ePlus redemption at all Enterprise locations worldwide is anticipate spring of 2014

North AmericaNorth America, Europe

and Middle East

Europe

UK Germany Ireland France Spain Portugal Italy Greece Bulgaria Cyprus Romania Macedonia

Serbia Bosnia Montenegro Hungary Austria Slovakia Turkey Poland Netherlands Czech

Republic

Loyalty Clubs accepted: ePlus Emerald Club

The Drive Alliance Benefits

Benefits of having two brands:

˗ One global contact with localized support

˗ Customized billing solutions for your accounts (November 2013)

˗ One global agreement

˗ Negotiated pricing available in all countries

˗ Agent just shops ET and ZL

Stronger European network

˗ Now covers more than 90% of EU car rental market

˗ 100% compliance to agreement T&Cs

˗ Enterprise service

Thank You