Exhibit 99.2
Draft | Subject to Material Revision
Confidential Settlement Communication
Subject to FRE 408 and Equivalents
SETTLEMENT PROPOSAL TERM SHEET – FEBRUARY 6, 2025
| Key Dates | · Agreement in Principle: February 10, 2025 |
| · Targeted Close: March 1, 2025 | |
| Settlement Amount | $341.1 million |
| Form of Consideration | · Cash: $68.2 million down payment, paid at close (20% of Settlement Amount) |
| · New First Lien Secured Note: $272.9 million, issued at close (Settlement Amount net of 20% cash payment at close) | |
| Releases | Full releases |
| TERMS FOR NEW FIRST LIEN SECURED NOTE | |
| TERMS FOR NEW FIRST LIEN SECURED NOTE | |
| Estimated Issue Date | March 1, 2025 |
| Amount | $272.9 million. |
| Maturity | December 31, 2025 |
| Issuer | The Hertz Corporation |
| Obligors | Same as existing 12.625% First Lien Senior Secured Notes Due 2029 |
| Coupon | Payable in cash at 10.00% on 7/31/2025, 9/30/2025, and 12/31/2025 |
| Collateral/Priority | Same as existing 12.625% First Lien Senior Secured Notes Due 2029 |
| Mandatory Amortization | · $34.1 million (10% of Settlement Amount) due 7/31/2025 |
| · $68.2 million (20% of Settlement Amount) due 9/30/2025 | |
| · $170.6 million (50% of Settlement Amount) due 12/31/2025 (i.e., at maturity) | |
| Call Protection | Callable at 105% of par, plus accrued but unpaid interest, outside Mandatory Amortization schedule noted above |
| Covenants | TBD |
