Facility			Fixed or Floating Interest Rate	Maturity	June 30, 2012			December 31, 2011

*Corporate Debt*
Senior Term Facility	3.75	%	Floating	3/2018	$	1,382.5		$	1,389.5
Senior ABL Facility	2.50	%	Floating	3/2016		410.0			—
Senior Notes⁽²⁾	7.09	%	Fixed	10/2018–1/2021		2,450.0			2,638.6
Promissory Notes	6.96	%	Fixed	6/2012–1/2028		48.7			224.7
Convertible Senior Notes	5.25	%	Fixed	6/2014		474.7			474.7
Other Corporate Debt	5.39	%	Floating	Various		52.0			49.6
Unamortized Net Discount (Corporate)⁽³⁾						(50.0	)		(72.3	)

Total Corporate Debt						4,767.9			4,704.8

Fleet Debt
U.S. ABS Program
U.S. Fleet Variable Funding Notes:
Series 2009-1⁽⁴⁾	1.24	%	Floating	3/2013		2,025.0			1,000.0
Series 2010-2⁽⁴⁾	1.38	%	Floating	3/2013		200.0			170.0
Series 2011-2⁽⁴⁾	N/A		Floating	4/2012		—			175.0

						2,225.0			1,345.0

U.S. Fleet Medium Term Notes
Series 2009-2⁽⁴⁾	4.95	%	Fixed	3/2013–3/2015		1,384.3			1,384.3
Series 2010-1⁽⁴⁾	3.77	%	Fixed	2/2014–2/2018		749.8			749.8
Series 2011-1⁽⁴⁾	2.86	%	Fixed	3/2015–3/2017		598.0			598.0

						2,732.1			2,732.1

Donlen ABS Program
Donlen GN II Variable Funding Notes	1.17	%	Floating	8/2012		879.1			811.2

Other Fleet Debt
U.S. Fleet Financing Facility	3.00	%	Floating	9/2015		136.0			136.0
European Revolving Credit Facility	3.13	%	Floating	6/2015		261.8			200.6
European Fleet Notes	8.50	%	Fixed	7/2015		498.7			517.7
European Securitization⁽⁴⁾	2.78	%	Floating	7/2013		316.5			256.2
Canadian Securitization	2.13	%	Floating	6/2013		131.7			68.3
Australian Securitization⁽⁴⁾	5.31	%	Floating	12/2012		154.2			169.3
Brazilian Fleet Financing Facility	14.22	%	Floating	2/2013		14.8			23.1
Capitalized Leases	4.40	%	Floating	Various		358.4			363.7
Unamortized Discount (Fleet)						(8.3	)		(10.9	)

						1,863.8			1,724.0

Total Fleet Debt						7,700.0			6,612.3

Total Debt					$	12,467.9		$	11,317.1

The aggregate amounts of maturities of debt for each of the twelve-month periods ending June 30 (in millions of dollars) are as follows:

*: Our short-term borrowings as of June 30, 2012 include, among other items, the amounts outstanding under the European Securitization, Australian Securitization, Senior ABL Facility, U.S. Fleet Financing Facility, U.S. Fleet Variable Funding Notes, Brazilian Fleet Financing Facility, Canadian Securitization, Capitalized Leases, European Revolving Credit Facility and the Donlen GN II Variable Funding Notes. These amounts are reflected as short-term borrowings, regardless of the facility maturity date, as these facilities are revolving in nature and/or the outstanding borrowings have maturities of three months or less. Short-term borrowings also include the Convertible Senior Notes which became convertible on January 1, 2012 and remain as such through September 30, 2012. As of June 30, 2012, short-term borrowings had a weighted average interest rate of 2.3%.

We are highly leveraged and a substantial portion of our liquidity needs arise from debt service on our indebtedness and from the funding of our costs of operations and capital expenditures. We believe that cash generated from operations and cash received on the disposal of vehicles and equipment, together with amounts available under various liquidity facilities will be adequate to permit us to meet our debt maturities over the next twelve months.

As of June 30, 2012, there were outstanding standby letters of credit totaling $608.8 million. Of this amount, $563.1 million was issued under the Senior Credit Facilities ($291.0 million of which was issued for the benefit of the U.S. ABS Program and $64.6 million was related to other debt obligations) and the remainder is primarily to support self-insurance programs (including insurance policies with respect to which we have agreed to indemnify the policy issuers for any losses) as well as airport concession obligations in the United States, Canada and Europe. As of June 30, 2012, none of these letters of credit have been drawn upon.

On January 1, 2012, our Convertible Senior Notes became convertible. This conversion right was triggered because our closing common stock price per share exceeded $10.77 for at least 20 trading days during the 30 consecutive trading day period ending on December 31, 2011. Since this same trigger was met in the second quarter of 2012, the Convertible Senior Notes continue to be convertible through September 30, 2012, and may be convertible thereafter, if one or more of the conversion conditions specified in the indenture is satisfied during future measurement periods. Our policy has been and continues to be to settle conversions of Convertible Senior Notes using a combination of cash and our common stock, which calls for settling the fixed dollar amount per $1,000 in principal amount in cash and settling in shares the excess conversion, if any.

In February 2012, Hertz called the remainder of its outstanding 8.875% Senior Notes due 2014 and 7.875% Senior Notes due January 2014 for redemption. Hertz redeemed these notes in full during March 2012.

In March 2012, Hertz issued an additional $250 million in aggregate principal amount of the 6.75% Senior Notes due 2019. The proceeds of this March 2012 offering were used to redeem all of the outstanding 8.875% Senior Notes due 2014 and together with cash on hand, all of the outstanding 7.875% Senior Notes due 2014 which resulted in the write-off of unamortized debt costs of $3.2 million.

In March 2012, Hertz amended the Canadian Securitization to extend the maturity date from March 2012 to May 2012. In the second quarter 2012, the maturity date was extended to June 2013.

In April 2012, Hertz paid off the remaining debt outstanding under the U.S. ABS Program Series 2011-2 U.S. Fleet Variable Funding Notes and terminated the facility.

In May 2012, the borrowing capacity of the Series 2009-1 under our U.S. Fleet Variable Funding Notes was increased by $250 million.

In June 2012, Hertz amended the European Revolving Credit Facility to extend the maturity date from June 2013 to June 2015.

In June 2012, Hertz amended the Brazilian Fleet Financing Facility to extend the maturity date from June 2012 to February 2013.

In June 2012, Hertz amended the European Seasonal Revolving Credit Facility under the European Revolving Credit Facility to create a commitment period running from June 2012 to November 2012 that provides for aggregate maximum borrowings of €85.7 million (the equivalent of $106.9 million as of June 30, 2012), subject to borrowing base availability.

During the first half of 2012, Donlen's GN II Variable Funding Notes remained outstanding and lender commitments thereunder were increased to permit aggregate maximum borrowings of $900.0 million (subject to borrowing base availability).

Pursuant to the terms of exchange and registration rights agreements entered into in connection with the issuance of $250 million in aggregate principal amount of the 6.75% Senior Notes due 2019 in March 2012, Hertz has agreed to file a registration statement under the Securities Act of 1933, as amended, to permit either the exchange of such notes for registered notes or, in the alternative, the registered resale of such notes. Hertz's failure to meet its obligations under the exchange and registration rights agreement, including by failing to have the registration statement become effective by March 2013 or failing to complete the exchange offer by April 2013, will result in Hertz incurring special interest on such notes at a per annum rate of 0.25% for the first 90 days of any period where a default has occurred and is continuing, which rate will be increased by an additional 0.25% during each subsequent 90 day period, up to a maximum of 0.50%. We do not believe the special interest obligation is probable, and as such, we have not recorded any amounts with respect to this registration payment arrangement.

There have been no material changes to the guarantees and security provisions of the debt instruments and credit facilities under which our indebtedness as of June 30, 2012 has been issued from the terms disclosed in our Form 10-K.

Under the terms of our Senior Term Facility and Senior ABL Facility, we are not subject to ongoing financial maintenance covenants; however, under the Senior ABL Facility, failure to maintain certain levels of liquidity will subject the Hertz credit group to a contractually specified fixed charge coverage ratio of not less than 1:1 for the four quarters most recently ended. As of June 30, 2012, we were not subject to such contractually specified fixed charge coverage ratio.

As of June 30, 2012, the following facilities were available for the use of Hertz and its subsidiaries (in millions of dollars):

	Remaining Capacity		Availability Under Borrowing Base Limitation

Corporate Debt
Senior ABL Facility	$	1,027.6	$	782.4

Total Corporate Debt		1,027.6		782.4

Fleet Debt
U.S. Fleet Variable Funding Notes		163.1		36.8
Donlen GN II Variable Funding Notes		26.1		2.1
U.S. Fleet Financing Facility		54.0		16.2
European Revolving Credit Facility		119.3		66.7
European Securitization		157.3		16.8
Canadian Securitization		63.4		20.6
Australian Securitization		97.8		—
Capitalized Leases		132.2		25.6

Total Fleet Debt		813.2		184.8

Total	$	1,840.8	$	967.2

Our borrowing capacity and availability primarily comes from our "revolving credit facilities," which are a combination of asset-backed securitization facilities and asset-based revolving credit facilities. Creditors under each of our revolving credit facilities have a claim on a specific pool of assets as collateral. Our ability to borrow under each revolving credit facility is a function of, among other things, the value of the assets in the relevant collateral pool. We refer to the amount of debt we can borrow given a certain pool of assets as the "borrowing base."

We refer to "Remaining Capacity" as the maximum principal amount of debt permitted to be outstanding under the respective facility (i.e., the amount of debt we could borrow assuming we possessed sufficient assets as collateral) less the principal amount of debt then-outstanding under such facility.

We refer to "Availability Under Borrowing Base Limitation" as the lower of Remaining Capacity or the borrowing base less the principal amount of debt then-outstanding under such facility (i.e., the amount of debt we could borrow given the collateral we possess at such time).

As of June 30, 2012, the Senior Term Facility had approximately $0.3 million available under the letter of credit facility and the Senior ABL Facility had $1,081.6 million available under the letter of credit facility sublimit, subject to borrowing base restrictions.

Substantially all of our revenue earning equipment and certain related assets are owned by special purpose entities, or are encumbered in favor of our lenders under our various credit facilities.

Some of these special purpose entities are consolidated variable interest entities, of which Hertz is the primary beneficiary, whose sole purpose is to provide commitments to lend in various currencies subject to borrowing bases comprised of rental vehicles and related assets of certain of Hertz International, Ltd.'s subsidiaries. As of June 30, 2012 and December 31, 2011, our International Fleet Financing No. 1 B.V., International Fleet Financing No. 2 B.V. and HA Funding Pty, Ltd. variable interest entities had total assets primarily comprised of loans receivable and revenue earning equipment of $528.1 million and $456.3 million, respectively, and total liabilities primarily comprised of debt of $527.6 million and $455.8 million, respectively.