July, 2014

Localiza Rent a Car S.A. Institutional Presentation

1

1. Company overview

2. Main business divisions

Car Rental

Fleet Rental

Seminovos

3. Consolidated

4. Debt and cash

5. Appendix

Earnings release 2Q14

Agenda

2

Company: milestones

Phase I – Rise to #1

1973 – Founded in Belo

Horizonte/MG

Late 70’s - Acquisitions in the

Northeast of Brazil

1981 – Brazilian car rental leader in

# of branches

Phase II – Expansion

1984 – Expansion strategy by

adjacencies: Franchising

1991 – Expansion strategy by

adjacencies: Seminovos

1997 – PE firm DL&J enters at a

market cap of US$ 150 mm

1997 – Expansion strategy by

adjacencies: Fleet Rental

Phase III – Reaching Scale

2005 – IPO: market cap of US$ 295

mm

2011 – Rated as investment grade by

Moody’s, Fitch and S&P in 2012

2012 – ADR level I

06/30/2014 – Market cap of US$3.5 bi

with ADTV of R$40.2 million

1973 1982 1983 2004 2005 2014

3

Company: integrated business platform

Synergies:

bargaining power

cost reduction

cross selling

12.991 cars

169 locations in Brazil

64 locations in South

America

34 employees

57.1% sold to final

consumer

74 stores

998 employees

73,281 cars

4.1 million clients

301 locations

4,377 employees

31,814 cars

778 clients

367 employees

This integrated business platform gives Localiza flexibility and superior performance.

Based on the 2Q14 4

Car Rental Fleet Rental

Seminovos Franchising

Franchising

Supplementary business,

with the purpose to

expand the brand’s

network.

Franchising is seen as a

primarily strategic

business by management

– the revenues generated

are low, however brand

and network expand at

minimum capital

expenditure.

Company: Business platform divisions

Car Rental

Localiza car rental rents

to individuals or

businesses at airports

and other locations.

The traditional backbone

of Localiza. With its giant

fleet that gets renewed

annually, it lays the

foundation for all scale

effects captured by the

group as a whole.

Fleet Rental

Offering customized fleet

for 2-3 years terms.

Localiza Fleet is seen as

an additional business

that generates value by

leveraging synergies

created by the integrated

platform approach.

Used car sales

Support area, with the

objective to sell the

Company’s used cars

and add know-how in

buying cars and

estimating the residual

value.

As a support business

activity, Seminovos

enables the sell roughly

60% of used cars directly

to the final customer,

thereby maximizing the

residual value of used

rental cars.

5

Total

1 year

R$ % Seminovos % R$

Net revenues 19,7 100,0% 28,1 100,0% 47,8

Costs - fixed and variable (9,1) -46,1% (9,1)

SG&A (3,3) -17,0% (2,6) -9,4% (6,0)

Net revenues of car sold 25,5 90,6% 25,5

Book value of car sold (24,1) -85,8% (24,1)

EBITDA 7,3 36,8% 1,4 4,9% 8,6

Cars Depreciation (1,5) -5,2% (1,5)

Others depreciation (0,4) -1,9% (0,2) -0,8% (0,6)

Financial expenses (1,3) -4,6% (1,3)

Taxes (2,1) -10,5% 0,5 1,7% (1,6)

Net Income (Loss) 4,8 24,5% (1,1) -4,0% 3,7

NOPAT 4,6

ROIC 17,1%

Cost of debt after taxes 6,0%

Car Rental Seminovos

Per car soldPer operating car

6

Net car sale

revenue

R$25.5 1 year cycle

Car Rental Financial Cycle

Per car

R$27.0

Car acquisition

1 2 3 4 5 6 7 8 9 10 11 12 Expenses, interest and tax

Revenue

Spread

11.1p.p.

Total

2 years

R$ % Seminovos % R$

Net revenues 36,9 100,0% 26,7 100,0% 63,7

Costs - fixed and variable (10,3) -28,0% (10,3)

SG&A (2,4) -6,5% (2,4) -8,9% (4,8)

Net revenues of car sold 24,4 91,1% 24,4

Book value of car sold (23,1) -86,2% (23,1)

EBITDA 24,2 65,5% 1,3 4,9% 25,5

Cars Depreciation (9,2) -34,3% (9,2)

Others depreciation (0,1) -0,2% - 0,0% (0,1)

Financial expenses (2,2) -8,2% (2,2)

Taxes (7,2) -19,6% 3,0 11,3% (4,2)

Net Income (Loss) 16,9 45,7% (7,0) -26,3% 9,9

Net Income (Loss) - per year 8,4 45,7% (3,5) -26,3% 4,9

NOPAT 5,7

ROIC 17,1%

Cost of debt after taxes 6,0%

Per operating car

Fleet Rental Seminovos

Per car sold

7

Net car sale

revenue

R$24.4 2 year cycle

Fleet Rental Financial Cycle

Per car

Spread

11.1p.p.

R$33.3

Car acquisition

1 2 3 4 5 6 19 20 21 22 23 24 Expenses, interest and tax

Revenue

535,5 643,8

788,7 934,7

1.150,7 1.160,4

1.462,8 1.699,2

1.802,5 1.821,8

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

Rental revenues evolution

3.794,9 3.726,2 3.715,4 3.873,1 4.111,3 4.281,6 4.637,6 4.692,1 4.791,3 4.698,2

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

Localiza’s rental revenues at constant prices

Sector’s revenue at constant prices (ex- Localiza)

GDP 5.7% 3.2% 4.0% 6.1% 5.2% -0.3% 7.5% 2.7% 1.0%

Average GDP growth: 3.7%

Source: ABLA (Brazilian Car Rental Association) and Localiza. 8

The Company grew at an average of 3.9x GDP and 6.0x the sector.

9 Source: ABLA 2013 Yearbook, Bradesco and Company loyalty program.

Corporate fleet:

5,000,000*

32,809

Car Rental Fleet Rental

Company current penetration

*Estimated

4 million

84 million

Adult population

(age > 20 years)

Class A+B+C

15 million

Adult population

(age > 20 years)

Class A+B

Penetration: 4.8% on A, B and C classes. Penetration: 0.7% on Corporate fleet.

10

Spread

(ROIC versus cost of debt after taxes)

8.4% 8.8% 7.6% 7.3% 8.6%6.3% 6.0% 7.7%

21.3%17.0%

11.5%16.9% 17.1% 16.1% 16.5% 18.7%

2007 2008 2009 2010 2011 2012 2013 1H14

12.9p.p. 8.2p.p.

4.0p.p. 9.6p.p. 8.5p.p. 11.0p.p.

9.8p.p.

ROIC Cost of debt after taxes

Financial

crisis effect

10.5p.p.

Annualized

(*) 2008 and 2012 ROIC were calculated excluding additional fleet depreciation that was treated as equity loss since

they were extraordinary non-recurring events caused by external factors (IPI reduction for new cars), following the

concepts recommended by Stern Stewart.

2013 Industry overview

Source: ABLA, Companies’ Financial Statements.

**Ouro Verde: Net Fleet Rental Revenue; Ouro Verde: EBITDA excludes selling of Martini Meat.

***Investiment = Average shareholders’ Equity + Average Net Debt

11

Gross Rental

Revenues (R$ million) 1,821.8 567.0 356.9 N/A 216.8**

Fleet (End of period ) 117,759 38,292 28,265 29,247 18,616

ROIC(NOPAT/ Investment***):

2013 16.5% 6.8% 7.4% 7.2% 7.8%

2012 16.1% 3.9% 6.9% 7.0% 7.9%

Net Debt/ EBITDA 1.5x 2.2x 3.1x 3.9x 3.5x

Net Debt/ Equity 1.0x 0.9x 1.7x 2.7x 6.8x

Raising money Buying

cars

Renting Cars Selling Cars

Source: ABLA (Brazilian Car Rental Association) and Localiza.

Cash to renew the fleet or pay debt

$

Profitability comes from rental divisions

Competitive advantages: 40 years of experience

in managing assets

$

12

Competitive advantages: raising money

Global Scale

National Scale

Localiza raises money with lower spreads when compared to Brazilian competitors.

As of March, 2014.

BBB Fitch

Baa3 Moody’s

BBB- S&P

BBB+ S&P B+ S&P B+ Fitch B1 Moody‘s

brAAA S&P

Aa1.br Moody’s

AAA(bra) Fitch

brAA- S&P

A+ (bra) Fitch

brA S&P

A (bra) Fitch

brA+ S&P

A+ (bra) Fitch

A(bra) Fitch

Raising money

Buying cars

Renting Cars Selling Cars

13

Investment grade: lower spreads and longer tenors

14

Competitive advantages: buying cars

Localiza buys cars with better conditions due to the volume of purchases.

Number of cars purchased - 2013

• Includes Franchising

78,779

18,8669,950

*

Source: each company website

Localiza’s share in the internal sales of the

major OEMs - 2013

2.6%

Raising money

Buying cars

Renting Cars Selling Cars

Localiza Unidas Locamerica

107

155

53

15

The Company is present in 259 cities where the other largest networks do not operate.

Competitive advantages: renting cars

Know How Brand Brazilian distribution

# o

f b

ran

ch

es

# o

f c

itie

s

Source: Brand Analytics and each company website (Localiza and Peers, as of March, 2014)

477

315

Raising money

Buying cars

Renting Cars Selling Cars

Localiza Unidas Hertz Avis

345

86 7138

16

Sales to final consumer

Competitive advantages: selling cars

Selling directly to final consumer reduces depreciation.

Cars available for sale are used by car rental division during peaks of demand.

Raising money

Buying cars

Renting Cars Selling Cars

Buffer: additional fleet

17

1. Company overview

2. Main business divisions

Car Rental

Fleet Rental

Seminovos

3. Consolidated

4. Debt and cash

5. Appendix

Earnings release 2Q14

Agenda

18

Car Rental overview

65.9% Compact cars

2013 Fleet composition

70,717 cars

34.1% Others

Net Revenues (R$ million)

Corporate fleet size

47,517

64,688 70,717

2009 2011 2013

428.0 565.2

585.2 802.2

980.71,093.7 1,163.5

563.6 628.1

280.3 316.7

2007 2008 2009 2010 2011 2012 2013 1H13 1H14 2Q13 2Q14

19

Drivers

Air traffic passengers - million

Source: BNDES, ANAC, IPEADATA and BCB

GDP per capita

(R$ thousands)

6.9 7.5 8.4 9.5 10.7 11.7 12.8 14.2 16.0 16.6

19.0 21.3 22.4

24.1

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

151180 200

240260 300

350380

415465

510545

622678

51%

38%37% 35%

31%27%

22% 20% 18% 16% 15% 15% 13% 12%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

Monthly minimum salary (R$) Daily rental price over minimum salary (%)

Car rental affordability

29

7082 89 90

2003 2010 2011 2012 2013

Investments in Brazil (2014-2017)

(R$ 4.075 billion)

1.478

1.154

867

575

Services andAgriculture

Industry Housing Infraestructure

20

Distribution

Car rental distribution (Brazil)

312 346381 415 449 474 479 470

2007 2008 2009 2010 2011 2012 2013 1H14

Localiza103

Hertz43

Unidas44

Avis29

Others55

Localiza374

Hertz64

Unidas111

Avis24

Others2592

21 Source: Abla 2014 and each company’s website (March 2014)

Off-airport market is still fragmented.

Airport locations Off-airport locations

Car Rental Locations in Brazil

39.5%

7.5% 8.2%

6.5%

2.9%

1.9%

33.5%

22

31.8%

4.1%

7.4%

4.5% 3.1% 1.5%

47.5%

47.0%

35.9%

Others

Movida

Avis

Hertz Unidas

Franchising

Franchising

Others

Movida Avis Hertz

Unidas

2013 Market Share – Car Rental

Rental Revenues R$3,055.8 million

Fleet 222,554 cars

Characteristics of Car Rental network in Brazil:

Complex chain management

High fixed-cost structure

Market consolidated in airports and fragmented in off-airport locations

High barrier to entry

Capital intensive

Source: Euromonitor, ABLA and Companies’ Financial Statements and estimates.

23

1. Company overview

2. Main business divisions

Car Rental

Fleet Rental

Seminovos

3. Consolidated

4. Debt and cash

5. Appendix

Earnings release 2Q14

Agenda

24

Number of clients

Fleet Rental overview

38.0% Compact cars

2013 Fleet composition

32,809 cars

62.0% Others

584687 760

2009 2011 2013

Net Revenues (R$ million)

219.8 268.4 303.2 361.1

455.0 535.7 575.9

288.9 283.1

147.1 140.0

2007 2008 2009 2010 2011 2012 2013 1H13 1H14 2Q13 2Q14

2012 Market Share – Fleet Rental

25

Rental Revenues R$3,464.2 million

Fleet 307,336 cars

Characteristics of the Fleet Rental business in Brazil:

Scale in purchasing cars of little relevance after initial scale (10,000 cars)

Low fixed cost structure

Risk of forecast of car residual value by the end of the contract (depreciation)

Low entry barrier

Source: Euromonitor for revenue , ABLA for fleet and Companies’ Financial Statements.

Locamerica 10.3%

Unidas 9.1%

Ouro Verde 4.9%

Locamerica 10.3%

Unidas 7.1%

Ouro Verde 6.1%

18.4% 11.3%

Others

57.2% Others

65.2%

26 Source: ABLA 2013 Yearbook, Bradesco and Datamonitor

Low penetration of rented fleet in Brazil.

Rented fleet penetration

Corporate fleet:

5,000,000*

Rented fleet:

307,336

32,809

Brazilian Market World

5.4%8.9%

13.3%16.5%

24.5%

37.4%

46.9%

58.3%

Bra

zil

Poland

Cze

ch R

epublic

Ger

man

y

France

Spain

Uk

Holla

nd

Drivers

*Estimated

27

1. Company overview

2. Main business divisions

Car Rental

Fleet Rental

Seminovos

3. Consolidated

4. Debt and cash

5. Appendix

Earnings release 2Q14

Agenda

28

Combining Localiza’s brand with a growing network of stores

enables the Company to continuously sell thousands of cars at market prices.

# of points of sale

Car sales – operating data

32 35

4955

6673 74 74

2007 2008 2009 2010 2011 2012 2013 1H14

29

Income increase and credit availability are the major drivers for car sales.

Source: O Estado de São Paulo newspaper, as of 08/16/13 (based on researches of Sindipeças) and Globo website, as of 03/10/2014.

Used car sales drivers: affordability and penetration

# of inhabitants per car 2012 –

(Brazil 2013) # of inhabitants per car - Brazil

4.4

4.2

4.0

3.6

2.1

2.0

1.9

1.8

1.2

Brazil

Argentina

Russia

South Korea

Japan

France

Germany

United Kingdon

USA

8.0 7.9 7.4

6.9 6.55.9 5.5 5.2

4.4

2005 2006 2007 2008 2009 2010 2011 2012 2013

7.06.7

7.1 7.3 7.1

8.48.9 9.0

9.4

1.6 1.82.3

2.73.0

3.3 3.5 3.6 3.6

30

4.4x 3.7x

3.1x 2.7x 2.4x 2.5x 2.5x

2005 2006 2007 2008 2009 2010 2011 2012 2013

2.6x

Brazilian car market: new x used car market and affordability

New cars

Used cars

Source: FENABRAVE (Autos + light commercial) and Anfavea

2.6x

31

2013 Up to 2 years

409.121

2013 Brand new

3,579,903 2013 Used cars

9,434,225

0.7% 1.8% 13.9%

Car sales – operating data

Source: Anfavea and Fenabrave

# of cars sold (Quantity)

30,093 34,281 34,519

47,285 50,77256,644 62,641

26,60333,338

13,669 15,889

2007 2008 2009 2010 2011 2012 2013 1H13 1H14 2Q13 2Q14

32

Examples

• Dealers

• Fiat, VW, Ford, GM most

successful

• Auto Brasil

• Rental operators

• Locamerica, Hertz

• Retailers

• “Loja do carro”

• “Auto malls” and

“Cidade do

automóvel”

Strengths*

• Brand and perceived

image/ experience

• Support often directly

from the OEM’s

• Flexibility in trade-in

cars

• Strong media presence

• Tailored to popular

customer demand at

purchase, hence likely

to be an attractive

value proposition

when for sale

• Often appeal to

lower income

classes, with older

cars

• Occasionally

specialized in niches

• Comfort and

convenience

• Variety of models

and brands

• Flexibility in

exchange

Weaknesses*

• Used cars not a core

business

• Cars often older than 2

years

• Stigma about heavy

usage during rental

car years

• Weak retail network

• Geographical

concentration (SP)

• Lower media

presence

• No brand

recognition (lower

reputation market)

• Financing options

with higher interest

rates

• Lower media

presence

• Cars often older

than 2 years

• It hasn’t been

successful

Points of sale • 3,714 (Anfavea)

• 25 (Unidas,

Locamerica, Avis and

Hertz website).

• 45,600 (Fenauto) • 71 (Fenauto)

Main players

*Source: Roland Berger

33

1. Company overview

2. Main business divisions

Car Rental

Fleet Rental

Seminovos

3. Consolidated

4. Debt and cash

5. Appendix

Earnings release 2Q14

Agenda

40%

60%

34

2013 Consolidated breakdown R$ million

Net Revenues EBITDA

11%

41%

48%

50%

16% 34%

Company’s profitability comes from Car Rental and Fleet Rental Divisions.

EBIT*

Net revenues EBITDA EBIT Net income

1,183.0 440.0 392.3 225.3

575.9 377.3 259.8 159.0

1,747.3 99.2 * *

Consolidated 3,506.2 916.5 652.1 384.3

*Seminovos results recorded in the Car Rental and Fleet Rental Division.

655.0 842.9 898.5 1,175.3 1,450.0 1,646.7 1,758.9 861.9 920.3

432.4 461.0

850.5 980.8 922.4

1,321.9 1,468.1

1,520.0 1,747.3

744.6 929.3

380.7 443.6

2007 2008 2009 2010 2011 2012 2013 1H13 1H14 2Q13 2Q14

35

Consolidated net revenues R$ million

Car Rental Used car sales

1,505.5 1,823.7

2,918.1 3,506.2

1,606.5 1,820.9

2,497.2

3,166.7

904.6

1,849.6

813.1

36

Consolidated EBITDA R$ million

EBITDA grew 7.3% in the 2Q14.

403.5 504.1 469.7649.5

821.3 875.6 916.5

442.3 490.6

225.1 241.6

2007 2008 2009 2010 2011 2012 2013 1H13 1H14 2Q13 2Q14

(*)Up to 2011, accessories and freight of new cars were recorded as permanent assets and depreciated over the cars’ useful life.

From 2012 on, such values have been accounted directly in the cost line, impacting EBITDA but reducing depreciation costs.

Divisions 2007* 2008* 2009* 2010* 2011* 2012 2013 1H13 1H14 2Q13 2Q14

Car Rental 46.0% 45.9% 41.9% 45.3% 46.9% 40.9% 36.8% 35.7% 39.1% 35.9% 38.1%

Fleet Rental 71.3% 69.1% 68.7% 68.0% 68.6% 66.4% 65.5% 66.1% 61.7% 66.2% 61.5%

Rental Consolidated 54.5% 53.3% 51.1% 52.3% 53.8% 49.3% 46.5% 46.1% 46.3% 46.4% 45.4%

Used Car Sales 5.5% 5.6% 1.1% 2.6% 2.8% 4.2% 5.7%

6.0% 7.0% 6.4% 7.3%

2,395.8

5,083.14,371.7

3,509.7 4,133.0

4,311.3

4,592.3 4,104.91,096.9

2007 2008 2009 2010 2011 2012 2013 1H14

332.9

2,546.0 2,577.0

1,536.0 1,683.9

1,895.8

1,452.4 1,360.9

2007 2008 2009 2010 2011 2012 2013 1H14

37

Average depreciation per car in R$

Robust used-car

market

Financial crisis and

IPI reduction effect

Robust

used-car market

Financial crisis and

IPI reduction effect

Depreciation Non recurring additional depreciation - IPI Effect

Depreciation Non recurring additional depreciation - IPI Effect

3,972.4

5,408.2

2,076.6

Average depreciation per car (R$) – Car Rental

Average depreciation per car (R$) – Fleet Rental

Annualized

Annualized

190.2127.4 116.3

250.5291.6

240.9

384.3

192.3 206.4

103.4 100.6

2007 2008 2009 2010 2011 2012 2013 1H13 1H14 2Q13 2Q14

38

Consolidated net income R$ million

* Pro forma 2012 net income excluding additional depreciation related to the IPI tax reduction, net of income tax.

336.3 *

2Q14 net income was impacted by higher interest rates,

partially offset by an increase in the EBITDA and a reduction in the car depreciation.

39

1. Company overview

2. Main business divisions

Car Rental

Fleet Rental

Seminovos

3. Consolidated

4. Debt and cash

5. Appendix

Earnings release 2Q14

Agenda

40

Free cash flow - FCF (*) Without the technical discount up to 2010

Free cash flow - R$ million 2007 2008 2009 2010 2011 2012 2013 1H14

Op

era

tio

ns

EBITDA 403.5 504.1 469.7 649.5 821.3 875.6 916.5 490.6

Used car sale revenue, net from taxes (850.5) (980.8) (922.4) (1,321.9) (1,468.1) (1,520.0) (1,747.3) (929.3)

Depreciated cost of cars sold (*) 760.0 874.5 855.1 1,203.2 1,328.6 1,360.2 1,543.8 818.4

(-) Income tax and social contribution (63.4) (52.8) (49.0) (57.8) (83.0) (100.9) (108.5) (72.7)

Change in working capital 13.3 (44.8) (11.5) 54.5 (83.9) 37.1 2.9 (70.5)

Cash provided before investment 262.9 300.2 341.9 527.5 514.9 652.0 607.4 236.5

Cap

ex -

Ren

ew

als

Used car sale revenue, net from taxes 850.5 980.8 922.4 1,321.9 1,468.1 1,520.0 1,747.3 929.3

Car investment for renewal (839.0) (1,035.4) (947.9) (1,370.1) (1,504.5) (1,563.3) (1,819.7) (972.4)

Net investment for fleet renewal 11.5 (54.6) (25.5) (48.2) (36.4) (43.3) (72.4) (43.1)

Fleet renewal – quantity 30,093 34,281 34,519 47,285 50,772 56,644 62,641 33.338

Investment, other property and intangibles investments (23.7) (24.0) (20.8) (50.6) (59.9) (77.8) (47.5) (25.6)

Free cash flow before growth, new HQ and interest 250.7 221.6 295.6 428.7 418.6 530.9 487.5 167.8

Cap

ex -

Gro

wth

Investment on cars for fleet (growth) (221.9) (299.9) (241.1) (540.3) (272.0) (55.5) (209.4) (50.5)

Change in accounts payable to car suppliers (51.0) (188.9) 241.1 111.3 32.7 (116.9) 89.7 99.9

Fleet growth (272.9) (488.8) 0.0 (429.0) (239.3) (172.4) (119.7) 49.4

Fleet increase / (reduction) – quantity 7,957 9,930 8,642 18,649 9,178 2,011 7,103 1,726

Free cash flow after growth, and before interest and before

new headquarters (22.2) (267.2) 295.6 (0.3) 179.3 358.5 357.8 217.2

Cap

ex –

HQ

Investment in the construction of the new headquarters - (15.9) (0.2) (0.5) (3.1) (2.4) (6.5) (18.8)

Marketable securities – new headquarters - - - - - - - (87.5)

New headquarters construction - (15.9) (0.2) (0.5) (3.1) (2.4) (6.5) (106.3)

Free cash flow before interest (22.2) (283.1) 295.4 (0.8) 176.2 356.1 361.3 110.9

41

Changes in net debt R$ million

- 1,368.1

(76.9)

Financial expenses

(106.3)

New headquarters

Net debt

06/30/2014

FCF(*)

217.2

-1,332.8

Net debt

12/31/2013

FCF after financial expenses

140.3

Due to the strong cash generation, net debt remained stable even after

the investments in the new headquarters.

(69.3)

Dividends

(*) Before new headquarters capex

184.7 238.6

488.8 511.0

221.0 294.5 195.0 147.5

2014 2015 2016 2017 2018 2019 2020 2021

245.9 185.7

641.4 511.0

221.0 247.0 100.0 100.0

2014 2015 2016 2017 2018 2019 2020 2021

42

Debt maturity profile (principal) R$ million

The Company monitors the market on a regular basis and changes its debt portfolio

to improve its debt profile and/or reduce its financial costs.

Cash

935.1

912.1

At the end of the Semester – June 30, 2014

Cash

1,010.7

1,073.0

At the beginning of the Semester – January 1, 2014

765.1

1,254.5 1,078.6 1,281.1 1,363.4 1,231.2 1,332.8 1,368.11,492.9

1,752.6 1,907.8

2,446.7 2,681.7 2,547.6

2,797.9 2,903.0

2007 2008 2009 2010 2011 2012 2013 1H14

43

Debt - ratios

Net debt vs. Fleet value

BALANCE AT THE END OF PERIOD 2007(*) 2008(*) 2009(*) 2010(*) 2011 2012 2013 1H14

Net debt / Fleet value 51% 72% 57% 52% 51% 48% 48% 47%

Net debt / EBITDA** 1.9x 2.5x 2.3x 2.0x 1.7x 1.4x 1.5x 1.4x

Net debt / Equity 1.3x 2.0x 1.5x 1.4x 1.2x 0.9x 1.0x 0.9x

EBITDA / Net financial expenses 5.4x 3.8x 4.2x 5.0x 4.6x 6.3x 8.3x 6.4x

(*) From 2007 to 2010, ratios based on USGAAP financial statements.

**Annualized

Net debt Fleet value

Comfortable debt ratios.

44

Localiza Level I ADR

Ticker Symbol: LZRFY

CUSIP: 53956W300

ISIN: US53956W3007

Ratio: 1 Common Share : 1 ADR

Exchange: OTC

Depositary bank: Deutsche Bank Trust Company Americas

ADR broker helpline: +1 212 250 9100 (New York)

+44 207 547 6500 (London)

E-mail: adr@db.com

ADR website: www.adr.db.com

Depositary bank’s local custodian: Banco Bradesco S/A, Brazil

45

Disclaimer

Disclaimer The material presented is a presentation of general background information about LOCALIZA as of the date of the presentation. It is information in summary form and does

not purport to be complete. It is not intended to be relied upon as advice to potential investors. This presentation is strictly confidential and may not be disclosed to any

other person. No representation or warranty, express or implied, is made concerning, and no reliance should be placed on, the accuracy, fairness, or completeness of the

information presented herein.

This presentation contains statements that are forward-looking within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange

Act of 1934. Such forward-looking statements are only predictions and are not guarantees of future performance. Investors are cautioned that any such forward-looking

statements are and will be, as the case may be, subject to many risks, uncertainties and factors relating to the operations and business environments of LOCALIZA and its

subsidiaries that may cause the actual results of the companies to be materially different from any future results expressed or implied in such forward-looking statements.

Although LOCALIZA believes that the expectations and assumptions reflected in the forward-looking statements are reasonable based on information currently available to

LOCALIZA’s management, LOCALIZA cannot guarantee future results or events. LOCALIZA expressly disclaims a duty to update any of the forward-looking statement.

Securities may not be offered or sold in the United States unless they are registered or exempt from registration under the Securities Act of 1933. Any offering of securities

to be made in the United States will be made by means of an offering memorandum that may be obtained from any underwriters we may appoint in connection with an

offering of securities in future. Such offering memorandum will contain, or incorporate by reference, detailed information about LOCALIZA and its business and financial

results, as well as its financial statements.

This presentation does not constitute an offer, or invitation, or solicitation of an offer, to subscribe for or purchase any securities. Neither this presentation nor anything

contained herein shall form the basis of any contract or commitment whatsoever.

Website: www.localiza.com/ir E-mail: ri@localiza.com Phone: 55 31 3247-7024

Roberto Mendes

CFO and IR

Nora Lanari

Head of IR Eugênio Mattar

CEO