<p>Fact Sheet</p><p>Company Overview Budget Car Rental is one of the world's best-known car rental brands, with approximately 3,500 locations in more than 120 countries. Budget is an industry leader in providing vehicle rental services to value-conscious travelers and also operates one of the largest local and one-way truck rental businesses in the United States, through a network of approximately 1,550 locations. Budget is owned by Avis Budget Group, Inc. (NASDAQ:CAR), which operates and licenses the brand throughout the world. For further information, visit www.budget.com.</p><p>Quick History Budget was founded by Morris Mirkin in Los Angeles in 1958 with a $24,000 investment. The company name was chosen to appeal to the "budget-minded" or “value-conscious” renter. In 1959, in an effort to grow the business, Mirkin appealed to a distant relative, Jules Lederer, president of a Chicago-based manufacturer of writing instruments, for additional financing. Lederer formed a leasing company and leased new vehicles to Mirkin. In 1960, Lederer formed Budget Rent A Car Corporation in Chicago. The company then grew rapidly, both nationally and internationally. </p><p>In 1986, Gibbons, Green and van Amerongen Ltd. along with management and selected investors purchased Budget from Transamerica Corp. Budget made an initial public offering of 3.2 million shares in 1987.</p><p>In 1992, Budget moved downtown Chicago headquarters to Lisle, Ill. </p><p>In April 1997, Budget was bought by Team Rental Group, Budget’s largest franchisee in the United States and changed its name to Budget Group, Inc. Budget Group began trading on the New York Stock Exchange that year. </p><p>In 1997, Budget unveiled “Unlimited Budget” a travel agent loyalty program through which members receive a free Unlimited Budget debit MasterCard card and earn points (dollars) for completed bookings. </p><p>In 1998, Budget introduced “Fastbreak,” Budget’s express service with paperless transaction. </p><p>In 2002, Budget Group was delisted from the NYSE and sold Budget assets in the United States, Canada, Latin America, Caribbean, Australia and New Zealand to Cendant Corporation. Other worldwide assets were sold to Avis Europe plc. Later, Cendant moved Budget headquarters from Lisle, Ill. to Parsippany, N.J.</p><p>In 2006, Cendant Corporation separated into four independent companies: Realogy, Wyndham Worldwide, Travelport and Avis Budget Group, Inc. As a result, Budget is now a subsidiary of Avis Budget Group.</p><p>In 2011, Avis Budget Group, Inc. acquires Avis Europe plc. The transaction re-unites Avis Budget Group with its licensee for Europe, the Middle East, Africa and Asia.</p><p>World Headquarters 6 Sylvan Way, Parsippany, NJ 07054 (973) 496-3500</p><p>Special Service Offerings Fastbreak is the Budget express rental service featuring paperless transactions. To enroll, customers simply sign a Master Rental Agreement, which details all their preferences, from optional coverages and vehicle types to award options. Then, when renting with Budget in the future, customers do not have to sign another rental agreement. Sales Programs Budget Business Program is a corporate discount program that offers small businesses low corporate rates, complimentary Fastbreak service and rental reward credits. Budget by the Month is designed for long-term rentals of 30 days to 11 months. Budget Group Rates is designed for those needing five or more vehicles for a special event. The program offers special car rental rates, an assigned meeting specialist and a customized program just for the event. Budget Car Sales is designed for those looking to purchase quality, well-maintained off-rental vehicles. Offered in collaboration with Innovative Funding Services, the program features a wide selection of late-model cars, great prices, a no-haggle, no-hassle car buying process and the ultimate test drive to get the full experience of driving the vehicle.</p><p>Budget Web Sites  www.budget.com -- For customer reservations and information  www.budgettruck.com -- For truck rental reservations and information  www.unlimited-rewards.com -- For travel agents  www.carsalesbudget.com -- For those looking to purchase a used vehicle</p><p>Avis Budget Group, Inc. Executive Staff Larry D. De Shon, CEO and COO Scott Deaver, Executive VP and CMO David B. Wyshner, President and CFO Michael K. Tucker, Executive VP and General Counsel Joe Ferraro, President, Americas Gerard Insall, Executive VP and CIO Mark J. Servodidio, President, International Ned Linnen, Executive VP and Chief Human Resources Officer</p><p>Recent Awards and Recognition U.S.A.  “Gold Winner – Ground Transportation/Marketing” – (Unlimited Rewards) Travel Weekly Magellan Awards (2015)  One of America’s top 50 “green” brands – 2015 Customer Loyalty Engagement Index – Brand Keys (2015)  “Supplier of the Year” – The Boeing Company (2015)  “Gold Winner – Ground Transportation/Loyalty Program” – (Unlimited Budget) Travel Weekly Magellan Awards (2014)  “One of America’s Top 50 Organizations for Multicultural Business Opportunities” – DiversityBusiness.com (2014)  “One of America’s Top Corporations for Women’s Business Enterprises” – WBENC (2014)</p><p>AUSTRALIA  “Most Satisfied Customers Award - Hire Cars” – Canstar Blue (2014)  “Travelers’ Choice Award – Car Rental Agency in Australia” – TripAdvisor (2014)</p><p>EMEA  “United Arab Emirates’ Leading Car Rental Company” – World Travel Awards (2015)  “United Arab Emirates’ Leading Car Rental Company” – World Travel Awards (2014)  “Outstanding Short-Term Hire Company – Budget Luxembourg” – Automotion’s Luxembourg Fleet Night Awards (2013)  “Best Car Rental – International Brand” – Middle East & North Africa (MENA) Travel Awards (2012)  “Best Car Rental Company in the Middle East” – Business Traveller Middle East Awards (2012)</p><p>For Reservations (800) BUDGET-7 or visit www.budget.com</p><p>For Media Relations Inquiries (973) 496-3916 or [email protected] </p>