1. Presented by: A BRAMS C ARSHARING A DVISORS

2. Why CarSharing? Why Now? “For over 26 years, ACG has remained in the forefront of the evolution of the auto rental and transportation industries. We have worked with our clients to look beyond the horizon, to stay ahead of the curve, to challenge existing business models, and adjust to changes in consumer behavior and market dynamics. CarSharing's time has come as it taps into long-term cultural, environmental, economic, and life style shifts, and is poised to become a multi-billion dollar global industry. ACA has been formed to assist existing and new businesses, corporate fleet operators, and others who have short-term transportation needs, to exploit the enormous value proposition offered by CarSharing. ” Neil Abrams President and Founder of Abrams Consulting Group "Be Ahead Of The Curve!" ABRAMS CARSHARING ADVISORS

3.  CarSharing is a membership based organization open to the public.  Fully automated platform where members and businesses have access to vehicles 24/7 through the use of the internet, wireless and GPS technology.  The CarShare technology enables individuals to drive a car on an as-need basis, paying only for the time and mileage they reserve.  Vehicles are located at unstaffed self-service locations.  The CarShare Operator (“CSO) provides the gas, insurance, parking and maintenance. What is CarSharing? ABRAMS CARSHARING ADVISORS

4.  Although CarSharing dates back to the 1940s in Europe, more successful CarSharing programs launched in Germany and Switzerland in the mid- 1980s.  Modern day CarSharing began in North America in the mid-1990s. As of 2010, CarSharing as an industry has more than 450,700 members served by over 10,194 vehicle throughout North America  There are over 1 million CarShare users worldwide History of CarSharing ABRAMS CARSHARING ADVISORS

5. CarShare Growth ABRAMS CARSHARING ADVISORS

6.  Join or register on-line. Once application is approved the member is given a smart card.  Member can now reserve any vehicle in the fleet.  The CarShare member use their smart card or cell phone to access the vehicle How Does CarSharing work? ABRAMS CARSHARING ADVISORS

7.  Reserve on-line or phone.  The data is wirelessly transmitted to the hardware installed in the vehicle. The vehicle now knows the date and time of your reservation.  The CarShare technology logs vital driver and vehicle usage. That information is transmitted back to the CSO server.  The CarShare technology automatically process the member’s usage and bills their credit card. How Does CarShare Technology Work? ABRAMS CARSHARING ADVISORS

8. Policies & Procedures Only CarShare members are authorized to operate the vehicles Vehicles must be returned to the same locations and parking spaces Members are expected to return the vehicles on time or are subject to penalties No Smoking in any CarShare Vehicles Members are encouraged to pick-up after themselves. Trash in – Trash out CSOs are responsible for: CSO pays for gas. A gas card is assigned to each vehicle. Members are required to fill-up the tank when it reaches below a ¼ of a tank. CSO provide insurance coverage up to the minimum state-mandate, which vary by state and CSO. CSO provides assigned parking CSO are responsible for all vehicle maintenance and service. This includes but not limited to scheduled cleanings and PMs. Basic Member Rules: ABRAMS CARSHARING ADVISORS

9. CarSharing addresses Social and Economic issues Social & Environmental Benefits “The day will come when the notion of car ownership becomes antiquated.” William Clay Ford Jr., Chair, Ford Motor Company Ltd. Environmental Benefits o Complements mass-transit use o Reduces congestion o Reduces parking demands o Reduces fossil fuel consumption o Reduces greenhouse gas emissions and air pollution o LEED accredited program ABRAMS CARSHARING ADVISORS

10. Social & Environmental Benefits CarShare Vehicle:  Approx. 45 -60 members share 1 CarShare vehicle and 1 parking space CarShare Vehicle:  Approx. 45 -60 members share 1 CarShare vehicle and 1 parking space We all share the same vehicle... CarShare Vehicle:  Approx. 45 -60 members share 1 CarShare vehicle and 1 parking space Studies have shown 1 CarShare vehicle: Removes 9-13 private vehicles off the road Eliminates the need for 11 to 26 parking spaces 26% of CarShare members sold their personal vehicles 53% avoided purchasing a vehicle Sources : *Elliot Martin, PhDPost-Doctoral Research Engineer, Transportation Sustainability Research Center University of California, Berkeley *Susan A. Shaheen, PhDResearch Associate, Mineta Institute Honda Distinguished Scholar in Transportation, University of California, Davis, & Acting Co-Director, Transportation Sustainability Research Center (TSRC) University of California, Berkeley NYC Planning Board Amendment of 2010 X X X X X X X X ABRAMS CARSHARING ADVISORS

11. CarShare Performance Metrics  Member to car ratio  45 – 60 drivers to 1 CarShare vehicle & 1 parking space Sources : Shaheen, Cohen, and Chung. TRB 09-3688 NORTH AMERICAN CARSHARING: A TEN-YEAR RETROSPECTIVE ABRAMS CARSHARING ADVISORS

12. Economic Benefits “The day will come when the notion of car ownership becomes antiquated.” William Clay Ford Jr., Chair, Ford Motor Company Ltd. Car OwnerCarShare Member Car payment$288included Finance charges$67included Insurance$84included Gas$100included License, registration & tax $49included Maintenance$44included Parking$150included Total:$782/ mo *Monthly cost based on small – mid-size car $144/ mo avg. *A couple trips each week (6 two hour trips & 2 four-hour trips) Sources : Data based on 2010 AAA study of average driving cost Zipcar www.zipcar.com Alternative to car ownership All inclusive program: Includes gas Includes insurance Includes maintenance Includes parking Pay only for what you use ABRAMS CARSHARING ADVISORS

13. Target Markets ABRAMS CARSHARING ADVISORS

14. Target Markets Sources: City Data.com / Shaheen, Cohen, and Chung. TRB 09-3688 NORTH AMERICAN CARSHARING: A TEN-YEAR RETROSPECTIVE 83% of CarShare members are between the age of 21 - 45

15.  Minimal Start-up Cost  Fully Automated System  Paperless & Keyless  Automated Reservation & Billing  24/7 Self-Service Operation (No Rental Counter or Location)  Real Time Fleet Management Information & Control  High Utilization  Based on 24 Hours  Hourly & Daily Rentals  35% - 45% Utilization  Average RPU of $1,500 - $1,700 per vehicle CarShare’s Value Proposition? ABRAMS CARSHARING ADVISORS

16.  Manageable and Controllable Start-up Cost The Cost Factor ✓ ✓ ✓ ✓ You have the fleet CarShare is not labor intensive! What do you need to Start a CSO? Need to purchase or lease the CarShare Technology Need to develop your CarShare website The main cost component of a CarShare business are:  Fleet  Insurance  Personnel  CarShare Technology  Website Development ABRAMS CARSHARING ADVISORS

17.  24/7 Self-Service Operation  Hourly or Daily Reservations – (prefer more hourly use)  Average Utilization of 35% - 45%  Based on 24 Hours  Average RPU per month of $1,500 - $1,700 per vehicle CarShare Performance Metrics 8.14 $45.78 $56.35 41.8% $1,691 ABRAMS CARSHARING ADVISORS

18.  Retail  Alternative to Car Ownership  Corporate  Business to Business  Corporate Fleets  Employee Benefit  Governments & Municipalities  Solution for Parking Issues & Demands  Environmental Policies  Fleet Management Solution  Transportation Agencies  Compliments Mass-Transit  Fleet Management Solution  Institutions  Educational  Real Estate Developers  Tenant Amenity  LEED Accredited Program Market Segments ABRAMS CARSHARING ADVISORS *Transportation trends. Smart Para-Transit Study

19.  New Modes of CarSharing to Increase Revenue Potential in North America and Europe to 7 billion dollars by 2016  88% of North America’s CarShare Members are in the United States across 26 CarShare Programs 5 year Forecast ABRAMS CARSHARING ADVISORS

20.  Hertz - Connect by Hertz  Global CarShare Operation  Enterprise - WeCar  Operates in North America  U-Haul – U-CarShare  U.S. Operations  Avis – Okigo  European Market (France)  Several Independent / Franchise Car Rental  Non-profits Car Rental / CarShare Operators ABRAMS CARSHARING ADVISORS

21. Is this a business for you? CarSharing ABRAMS CARSHARING ADVISORS  Existing infrastructure an overall back office  Recognizable brand  Existing customer base  Scalable and controllable start-up cost  Sustainable demand growth  Immature and unsaturated competitive field  High RPU  Maximum ROI

22. Contact Us For more information about ACA and Car/FleetShare programs, please contact us at: A BRAMS C ARSHARING A DVISORS A DIVISION OF ABRAMS CONSULTING GROUP, INC. Corporate Office 3020 Westchester Ave Purchase, NY 10577 P: 914.696.5100 F: 914.696.5101 Web: www.abramscarsharing.comwww.abramscarsharing.com Julian Espiritu P: 914.696.5100 D: 914.729.0058 F: 914.696.5101 E-Mail: jespiritu@abramsconsulting.com ABRAMS CARSHARING ADVISORS