Avis is a leading rental car supplier positioned to serve the premium commercial and leisure segments of the
travel industry. The Avis brand provides high-quality car rental services at price points generally above nonbranded
and value-branded national car rental companies. We operate or license the Avis car rental system (the
“Avis System”), one of the largest car rental systems in the world, comprised of approximately 5,450 locations
worldwide, including in virtually all of the largest commercial airports and cities in the world.
We operate approximately 2,550 Avis car rental locations worldwide, in both the on-airport and off-airport, or local,
rental markets. In 2014, our Avis operations generated total revenue of approximately $5.3 billion, of which
approximately 61% (or $3.2 billion) was derived from North American operations. In addition, we license the Avis
brand to other independent commercial owners in approximately 2,900 locations throughout the world. In 2014,
approximately 73% of the Avis System total revenue was generated by our Company-operated locations and the
remainder was generated by locations operated by independent licensees, which generally pay royalty fees to us
based on a percentage of applicable revenue.