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Highlights of Rent-A-Wreck’s Item 19 Financial Performance Representations (2014 FDD) – Part 2 of 3

Definitions for Tables

“Number of Closed Rental Agreements” is the total number of closed rental agreements during the 12-month period ended July 31 of the year identified in the Table (the “Sample Period”). A “closed” rental agreement is one for which the customer used and returned a car and for which the charges were collected.

“Total Revenue” is the total revenue earned during the Sample Period.

“Number of Rental Days” is the total number of days that vehicles were rented under closed rental agreements during the Sample Period.

“Number of Vehicle Months in Fleet” is the total number of vehicles in the fleet during each month of the Sample Period (includes Rent-A-Wreck Franchised Businesses and the Baltimore Company Store).

“Average Revenue Per Rental Day” is derived by dividing “Total Revenue” by “Number of Rental Days.”

“Average Revenue Per Closed Rental Agreement” is derived by dividing “Total Revenue” by “Number of Closed Agreements.”

“Average Utilization” means the average utilization of the fleet during the Sample Period and is derived by dividing the “Number of Rental Days” by the product of “Number of Vehicle Months in Fleet” and 30.41 (average number of days per calendar month or 365 divided by 12).

“Average Length of Rental” is the average number of days that fleet vehicles were rented under closed rental agreements during the Sample Period and is calculated by dividing the “Number of Rental Days” by the “Number of Closed Rental Agreements.”

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