Item 4 — Purpose of Transaction
The information set forth in Item 4 of the Schedule 13D is amended as follows: On October 16, 2026, the Issuer and certain investors, including certain funds or accounts affiliated with Certares and Knighthead (all such investors, the "JV Investors"), entered into a joint venture arrangement (the "Joint Venture") related to Oro Mobility Holdings LLC (f/k/a Hertz Mobility Holdings LLC) (the "JV Entity"). In connection with the formation of the Joint Venture, but prior to the JV Investor Purchase (as defined below), the Issuer transferred to the JV Entity certain assets relating to the Issuer's Oro Mobility business not already owned by the JV Entity, together with approximately $60.03 million in cash. As part of the Joint Venture, the Issuer, the JV Entity, and the JV Investors entered into a Purchase Agreement (the "Purchase Agreement") pursuant to which the JV Investors agreed to purchase Class A Common Units of the JV Entity from the Issuer, representing 50% of the voting units of the JV Entity and approximately 15.86% of the common units of the JV Entity (before giving effect to any dilution from the management incentive plan of the JV Entity), for aggregate cash consideration of approximately $80.89 million (the "JV Investor Purchase"). Concurrently, the Issuer agreed to repurchase approximately $51.1 million aggregate principal amount of its Exchangeable Notes (as defined and described in Amendment No. 7) from certain funds or accounts affiliated with Certares and/or Knighthead for approximately $20.86 million, representing a 60% discount to par. Also on October 16, 2026, the Issuer, Hertz Transporting, Inc. ("HTI"), and the JV Investors entered into an Amended and Restated Limited Liability Agreement of the JV Entity effective as of October 19, 2026 (the "LLC Agreement"). Pursuant to the terms of the LLC Agreement, the JV Entity will be governed by a six-person board, with each of the Issuer and the JV Investors entitled to designate three members. The foregoing descriptions of the Purchase Agreement and LLC Agreement do not purport to be complete and are qualified in their entirety by reference to the text of the Purchase Agreement and LLC Agreement, which are attached hereto as exhibits to this Amendment No. 13 and are incorporated herein by reference.