Exhibit 99.1

“Our second quarter results were impressive and position us well for the peak summer season,” said Stephen Scherr, Hertz chief executive officer. “We produced record Adjusted Corporate EBITDA and adjusted free cash flow, taking advantage of positive market conditions. The hard work of our team and the resulting financial performance provided us with the opportunity to pursue investments in technology and a younger fleet, while returning capital to shareholders.”

ESTERO, Fla, July 28, 2022 - Hertz Global Holdings, Inc. (NASDAQ: HTZ) ("Hertz", "Hertz Global" or the "Company") today reported results for its second quarter 2022.

•Total revenues of $2.3 billion

•GAAP net income of $940 million, or $1.13 per diluted share

•Adjusted Net Income of $520 million, or $1.22 per adjusted diluted share (reflects adjustments for fair value remeasurements to outstanding public warrants and certain derivative contracts, among other items)

•Adjusted Corporate EBITDA of $764 million, a 33% margin

•Operating cash flow of $708 million, adjusted operating cash flow of $585 million

•Adjusted free cash flow of $484 million

•Corporate liquidity of $2.5 billion at June 30, including $1.0 billion in unrestricted cash

•Company repurchased 46.9 million common shares during the quarter

Revenue was $2.3 billion, up 25% year over year and 30% quarter over quarter, and Adjusted Corporate EBITDA was a second quarter record of $764 million. Adjusted free cash flow was a second quarter record of $484 million, reflecting increased free cash flow conversion. Our financial results for the second quarter reflect the continued strength of our underlying business, positive market forces and high demand for our services, as well as our team’s continued dedication to the customer. Results in the quarter further demonstrated the Company’s ability to deliver increased earnings and free cash flow, through efficient capital deployment, while still investing in our fleet and non-fleet capital assets.

(a)    Represents a non-GAAP measure. See the accompanying reconciliations included in Supplemental Schedule II.

(b)    Based on December 31, 2021 foreign exchange rates.

During the second quarter 2022, the Company completed the $2 billion share repurchase program announced in November 2021, having repurchased 97.8 million cumulative shares. The Company also announced the authorization of a new $2 billion program and have repurchased approximately 9.3 million shares with $1.8 billion remaining under the new plan as of July 21, 2022.

During the second quarter 2022, the Company also took a series of actions to enhance its liquidity and capital allocation flexibility:

•The Company successfully increased the aggregate committed amount of its first lien revolving credit facility ("First Lien RCF") from $1.5 billion to $1.9 billion and the sublimit for letters of credit from $1.4 billion to $1.8 billion.

•The Company successfully increased the maximum principal amount that may be outstanding under its Series 2021-A Notes from $3.2 billion to $3.8 billion and extended the maturity date of the Class A tranche to June 2024.

•The Company entered into the Repurchase Facility, under which the Company may execute repurchase transactions for its retained HVF III Series 2022 Class D Notes. As of June 30, 2022, $236 million was outstanding under this facility at a rate of SOFR plus 150 basis points.

•And, the Company amended its Canadian Securitization to provide for aggregate maximum borrowings of CAD$450 million, for a seasonal commitment period through November 2022. Following the expiration of the seasonal commitment period, aggregate maximum borrowings will revert to CAD$350 million. The Canadian Securitization was also amended to extend the maturity to June 2024.

The Company's liquidity position was $2.5 billion at June 30, 2022, of which $1.0 billion was unrestricted cash.

In July 2022, Hertz increased the aggregate committed amount of the First Lien RCF by $55 million where the aggregate committed amount remains at $1.9 billion and the sublimit for letters of credit by $55 million where the aggregate sublimit remains at $1.8 billion.

Also in July 2022, an increase to the commitments for the Series 2021-A Notes was made, increasing the maximum principal amount that may be outstanding from $3.8 billion to $3.9 billion.

Hertz Global's live webcast and conference call to discuss its second quarter 2022 results will be held on July 28, 2022, at 8:30 a.m. Eastern Time. The conference call will be broadcast live in listen-only mode on the company’s investor relations website at IR.Hertz.com. If you would like to access the call by phone and ask a question, please go to https://register.vevent.com/register/BI2433af661d3d4b639a2e3512a894d4d6, and you will be provided with dial in details. Investors are encouraged to dial-in approximately 15 minutes prior to the call. A web replay will remain available on the website for approximately one year. The earnings release and related supplemental schedules containing the reconciliations of non-GAAP measures will be available on the Hertz website, IR.Hertz.com.

Following is selected financial data of Hertz Global. Also included are Supplemental Schedules, which are provided to present segment results, and reconciliations of non-GAAP measures to their most comparable GAAP measure. Following the Supplemental Schedules, the Company provides definitions for terminology used throughout the earnings release and its view of the usefulness of non-GAAP measures to investors and management.

In the first quarter of 2022, the Company began using Average Rentable Vehicles when calculating Available Car Days, Total RPU and Utilization instead of Average Vehicles. Average Rentable Vehicles excludes vehicles for sale on the Company’s retail lots or actively in the process of being sold through other disposition channels. Prior periods have been restated to conform with the revisions, as appropriate. The Company has also restated historical quarterly and annual periods beginning with first quarter 2019 to reflect this change and has posted this information to its investor relations website at IR.Hertz.com.

The Hertz Corporation, a subsidiary of Hertz Global Holdings, Inc., operates the Hertz, Dollar and Thrifty vehicle rental brands throughout North America, Europe, the Caribbean, Latin America, Africa, the Middle East, Asia, Australia and New Zealand. The Hertz Corporation is one of the largest worldwide vehicle rental companies, and the Hertz brand is one of the most recognized globally. Additionally, The Hertz Corporation owns and operates the Firefly vehicle rental brand and Hertz 24/7 car sharing business in international markets and sells vehicles through Hertz Car Sales. For more information about The Hertz Corporation, visit www.hertz.com.

Certain statements contained or incorporated by reference in this release, and in related comments by the Company’s management, include “forward-looking statements.” Forward-looking statements include information concerning the Company’s liquidity and its possible or assumed future results of operations, including descriptions of its business strategies. These statements often include words such as “believe,” “expect,” “project,” “potential,” “anticipate,” “intend,” “plan,” “estimate,” “seek,” “will,” “may,” “would,” “should,” “could,” “forecasts,” "guidance" or similar expressions. These statements are based on certain assumptions that the Company has made in light of its experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate in these circumstances. The Company believes these judgments are reasonable, but you should understand that these statements are not guarantees of performance or results, and that the Company’s actual results could differ materially from those expressed in the forward-looking statements due to a variety of important factors, both positive and negative, that may be revised or supplemented in subsequent reports on Form 10-K, 10-Q and 8-K filed or furnished to the SEC.

Important factors that could affect the Company's actual results and cause them to differ materially from those expressed in forward-looking statements include, among other things:

•the length and severity of COVID-19 and the impact on the Company's vehicle rental business as a result of travel restrictions and business closures or disruptions, as well as the impact on its employee retention and talent management strategies;

•the impact of macroeconomic conditions resulting in inflationary cost pressures resulting in labor and supply chain constraints, increased vehicle acquisition costs, and reductions in travel demand, among others;

•the Company's ability to purchase adequate supplies of competitively priced vehicles at a reasonable cost as a result of the continuing global semiconductor microchip manufacturing shortage (the "Chip Shortage") and other raw material supply constraints;

•the impact of the conflict between Russia and Ukraine on supply chains and raw materials for the automotive industry and uncertainty on overall consumer sentiment and travel demand, especially in Europe;

•the impact on the value of the Company's non-program vehicles upon disposition when the Chip Shortage and other raw material supply constraints are alleviated;

•the Company's ability to attract and retain key employees;

•levels of travel demand, particularly business and leisure travel in the U.S. and in global markets;

•significant changes in the competitive environment and the effect of competition in the Company's markets on rental volume and pricing;

•occurrences that disrupt rental activity during the Company's peak periods;

•the Company's ability to accurately estimate future levels of rental activity and adjust the number and mix of vehicles used in its rental operations accordingly;

•the Company's ability to implement its business strategy, including its ability to implement plans to support a large scale electric vehicle fleet and to play a central role in the modern mobility ecosystem;

•the Company's ability to adequately respond to changes in technology, customer demands and market competition;

•the mix of program and non-program vehicles in the Company's fleet can lead to increased exposure to residual risk;

•the Company's ability to dispose of vehicles in the used-vehicle market and use the proceeds of such sales to acquire replacement vehicles;

•financial instability of the manufacturers of the Company's vehicles, which could impact its ability to fulfill obligations under repurchase or guaranteed depreciation programs;

•an increase in the Company's vehicle costs or disruption to its rental activity due to safety recalls by the manufacturers of its vehicles;

•the Company's access to third-party distribution channels and related prices, commission structures and transaction volumes;

•the Company's ability to offer an excellent customer experience, and retain and increase customer loyalty and market share;

•the Company's ability to maintain its network of leases and vehicle rental concessions at airports in the U.S. and internationally;

•the Company's ability to maintain favorable brand recognition and a coordinated branding and portfolio strategy;

•major disruption in the Company's communication or centralized information networks or a failure to maintain, upgrade and consolidate its information technology systems;

•the Company's ability to prevent the misuse or theft of information it possesses, including as a result of cyber security breaches and other security threats, as well as its ability to comply with privacy regulations;

•risks associated with operating in many different countries, including the risk of a violation or alleged violation of applicable anti-corruption or anti-bribery laws and the Company's ability to repatriate cash from non-U.S. affiliates without adverse tax consequences;

•the Company's ability to utilize its net operating loss carryforwards;

•risks relating to tax laws, including those that affect the Company's ability to deduct certain business interest expenses and offset previously-deferred tax gains, as well as any adverse determinations or rulings by tax authorities;

•changes in laws, regulations, policies or other activities of governments, agencies and similar organizations, including those related to accounting principles, that affect the Company's operations, its costs or applicable tax rates;

•the recoverability of the Company's goodwill and indefinite-lived intangible assets when performing impairment analysis;

•costs and risks associated with potential litigation and investigations, compliance with and changes in laws and regulations and potential exposures under environmental laws and regulations; and

•the availability of additional or continued sources of financing for the Company's revenue earning vehicles and to refinance its existing indebtedness.

Additional information concerning these and other factors can be found in the Company's filings with the SEC, including its Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.

You should not place undue reliance on forward-looking statements. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by the foregoing cautionary statements. All such statements speak only as of the date of this release, and, except as required by law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

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(a)    Amounts include cash and cash equivalents and restricted cash and cash equivalents of Donlen which were held for sale as of December 31, 2020.

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			Three Months Ended June 30,												Six Months Ended June 30,
(In millions, except per share data)			2022						2021						2022						2021
Adjusted Net Income (Loss) and Adjusted Diluted Earnings (Loss) Per Share:
Net income (loss) attributable to Hertz Global			$	940					$	(168)					$	1,366					$	21
Adjustments:
Income tax provision (benefit)			179						(46)						309						33
Vehicle and non-vehicle debt-related charges(a)(m)			14						68						26						104
Restructuring and restructuring related charges(b)			15						37						21						50
Acquisition accounting-related depreciation and amortization(c)			—						12						1						25
Reorganization items, net(d)			—						633						—						677
Pre-reorganization and non-debtor financing charges(e)			—						17						—						40
Gain from the Donlen Sale(f)			—						(8)						—						(400)
Unrealized (gains) losses on financial instruments(g)			(21)						—						(65)						—
Change in fair value of Public Warrants			(461)						—						(511)						—
Other items(h)(n)			27						6						83						(78)
Adjusted pre-tax income (loss)(i)			693						551						1,230						472
Income tax (provision) benefit on adjusted pre-tax income (loss)(j)			(173)						(143)						(307)						(123)
Adjusted Net Income (Loss)			$	520					$	408					$	923					$	349
Weighted-average number of diluted shares outstanding			424						160						443						158
Adjusted Diluted Earnings (Loss) Per Share(k)			$	1.22					$	2.55					$	2.08					$	2.20
Adjusted Corporate EBITDA:
Net income (loss) attributable to Hertz Global			$	940					$	(168)					$	1,366					$	21
Adjustments:
Income tax provision (benefit)			179						(46)						309						33
Non-vehicle depreciation and amortization(l)			36						50						69						104
Non-vehicle debt interest, net			41						91						80						135
Vehicle debt-related charges(a)(m)			9						26						16						54
Restructuring and restructuring related charges(b)			15						37						21						50
Reorganization items, net(d)			—						633						—						677
Pre-reorganization and non-debtor financing charges(e)			—						17						—						40
Gain from the Donlen Sale(f)			—						(8)						—						(400)
Unrealized (gains) losses on financial instruments(g)			(21)						—						(65)						—
Change in fair value of Public Warrants			(461)						—						(511)						—
Other items(h)(o)			26						7						93						(72)
Adjusted Corporate EBITDA			$	764					$	639					$	1,378					$	642

,

(a)Represents debt-related charges relating to the amortization of deferred financing costs and debt discounts and premiums.

(b)Represents charges incurred under restructuring actions as defined in U.S. GAAP, excluding impairments and asset write-downs. Also includes restructuring related charges such as incremental costs incurred directly supporting business transformation initiatives. For the three and six months ended June 30, 2022, charges incurred related primarily to International RAC. For the three months ended June 30, 2021, charges incurred were $19 million, $10 million and $8 million for Corporate, International RAC and Americas RAC, respectively. For the six months ended June 30, 2021, charges incurred were $25 million, $17 million and $8 million for Corporate, International RAC and Americas RAC, respectively.

(c)Represents incremental expense associated with the amortization of other intangible assets and depreciation of property and equipment relating to acquisition accounting.

(d)Represents charges incurred associated with the Reorganization and emergence from Chapter 11. The charges relate primarily to Corporate.

(e)    Represents charges incurred prior to the filing of the Chapter 11 Cases comprised of preparation charges for the Reorganization, such as professional fees. Also includes, certain non-debtor financing and professional fee charges. The amounts incurred for Americas RAC, International RAC and Corporate were $8 million, $2 million, and $7 million for the three months ended June 30, 2021, respectively. For Americas RAC, International RAC, All other operations and Corporate were $17 million, $5 million, $2 million and $17 million for the six months ended June 30, 2021, respectively.

(f)    Represents the gain from the sale of the Company's Donlen business on March 30, 2021, primarily associated with Corporate.

(g)    Represents unrealized gains (losses) on derivative financial instruments, primarily associated with Americas RAC.

(h)    Represents miscellaneous items. For 2022, primarily includes bankruptcy claims, certain professional fees and charges related to the settlement of bankruptcy claims. For 2021, includes $100 million due to the suspension of depreciation in the first half of the year for the Donlen leasing and fleet management operations while classified as held for sale in all other operations, partially offset by letter of credit fees recorded in the first half of the year in Corporate and charges for a multiemployer pension plan withdrawal liability recorded in the first quarter in Corporate.

(i)    Adjustments by caption on a pre-tax basis were as follows:

(j)    Derived utilizing a combined statutory rate of 25% and 26% for the three and six months ended June 30, 2022 and 2021, respectively, applied to the respective Adjusted Pre-tax Income (Loss).

(k)    Adjustments used to reconcile diluted earnings (loss) per share on a GAAP basis to Adjusted Diluted Earnings (Loss) Per Share are comprised of the same adjustments, inclusive of the tax impact, used to reconcile net income (loss) to Adjusted Net Income (Loss) divided by the weighted-average diluted shares outstanding during the period.

(l)    Non-vehicle depreciation and amortization expense for Americas RAC, International RAC and Corporate for the three months ended June 30, 2022 was $30 million, $4 million and $2 million, respectively. For the three months ended June 30, 2021 was $43 million, $4 million, and $3 million for Americas RAC, International RAC and Corporate, respectively. Non-vehicle depreciation and amortization for Americas RAC, International RAC and Corporate for the six months ended June 30, 2022 were $56 million, $7 million and $6 million, respectively. For the six months ended June 30, 2021 were $87 million, $9 million, $2 million and $6 million, respectively, for Americas RAC, International RAC, All other operations and Corporate.

(m)    Vehicle debt-related charges for Americas RAC and International RAC for the three months ended June 30, 2022 were $3 million and $6 million, respectively, and were $21 million and $5 million, respectively, for the three months ended June 30, 2021. Vehicle debt-related charges for Americas RAC and International RAC for the six months ended June 30, 2022 were $9 million and $7 million, respectively. For the six months ended June 30, 2021, vehicle debt-related charges for Americas RAC, International RAC and All other operations were $42 million, $10 million and $2 million, respectively.

(n)    In 2022, includes letter of credit fees recorded in Corporate.

(o)    In 2022, includes an adjustment for certain non-cash stock-based compensation charges recorded in Corporate.

(a)    Corporate leverage ratio is calculated as non-vehicle net debt divided by LTM Adjusted Corporate EBITDA.

(a)Based on December 31, 2021 foreign exchange rates.

(b)Effective in the third quarter of 2021, the Company revised its calculation of Total RPD and Total RPU to include ancillary retail vehicle sales revenues.

(c)Effective in the first quarter of 2022, the Company revised its calculation of Total RPU and Vehicle Utilization to use Average Rentable Vehicles in the denominator which excludes vehicles for sale on the Company's retail lots or actively in the process of being sold through other disposition channels.

(d)Calculated as Transaction Days divided by Available Car Days.

(a)Based on December 31, 2021 foreign exchange rates.

(b)Effective in the third quarter of 2021, the Company revised its calculation of Total RPD and Total RPU to include ancillary retail vehicle sales revenues.

(c)Effective in the first quarter of 2022, the Company revised its calculation of Total RPU and Vehicle Utilization to use Average Rentable Vehicles in the denominator which excludes vehicles for sale on the Company's retail lots or actively in the process of being sold through other disposition channels.

(d)Calculated as Transaction Days divided by Available Car Days.