1June / 2012

2

1.The Company

2.Drivers and opportunities

3.Competitive advantages

4.Financials

Agenda

3

Company: integrated business platform

This integrated business platform gives Localiza flexibility and superior performance.

Synergies:bargaining powercost reduction cross selling

13,077 cars203 locations in Brazil 47 locations in South America34 employees

69.0% sold to final consumer67 stores921 employees

60,258 cars2.9 million clients251 locations4,022 employees

31,186 cars692 clients323 employees

Based on the 1Q12

4

Total1 year

R$ % R$ % R$Revenues 19.9 100.0% 29.1 100.0% 48.9 Cost (8.2) -41.3% (8.2) SG&A (2.7) -13.5% (2.9) -9.9% (5.5) Net car sale revenue 26.2 90.1% 26.2 Book value of car sale (25.5) -90.0% (25.5)

EBITDA 9.0 45.2% 0.7 2.4% 9.7 Depreciation (vehicle) (1.7) -5.8% (1.7) Depreciation (non-vehicle) (0.3) -1.7% (0.1) (0.5) Interest on debt (2.4) -8.2% (2.4) Tax (2.6) -13.0% 1.0 3.6% (1.5)

NET INCOME 6.1 30.4% (2.4) -8.4% 3.6 NOPAT 5.3 ROIC 17.5%Cost of debt after tax 8.6%

Car Rental Seminovosper operating car per car sold

Car rental financial cycle

Car sale revenue$26.2

$27.9Car acquisition

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

1-year cycle

Revenue

Spread8.9p.p.

*

* Investment in cars and PP&E (8%)

5

$33.8Car acquisition

Net car sale revenue $26.4

1 2 3 4 5 20 21 22 23 24

2-year cycle

Expenses, interest and tax

Revenue

Fleet rental financial cycle

Spread7.5p.p.

Total2 years

R$ % R$ % R$Revenues 34.0 100.0% 28.7 100.0% 62.7 Cost (9.7) -28.7% (9.7) SG&A (1.8) -5.3% (2.3) -7.9% (4.1) Net car sale revenue 26.4 92.1% 26.4 Book value of car sale (25.0) -90.0% (25.0)

EBITDA 22.4 66.0% 1.4 5.0% 23.8 Depreciation (vehicle) (8.3) -28.8% (8.3) Depreciation (non-vehicle) (0.1) -0.1% (0.1) Interest on debt (4.0) -14.1% (4.0) Tax (6.7) -19.8% 3.3 11.4% (3.5)

NET INCOME 15.6 46.0% (7.6) -26.5% 8.0

NET INCOME per year 7.8 46.0% (3.8) -26.5% 4.0 NOPAT (annualized) 5.4 ROIC 16.1%Cost of debt after tax 8.6%

Fleet Rental Seminovosper operating car per car sold

6

Pricing strategy

Company: managing assets

Targeted spread

Funding

Equity

Cash to renew the fleet

Assets (cash)

Profitability comes fromrental divisions

Ass

ets

(car

s)

Debt

Flexible and liquid assets.

7

Company: stable management

Salim Mattar – 39y

Eugênio Mattar – 39y

Gina Rafael – 31y

João Andrade – 8y

Marco Antônio Guimarães – 22y

Bruno Andrade – 20y

BOARD OF DIRECTORS

CEO

COO

Car Acquisition

Legal

Localiza has a lean and efficient structure.

The succession process is already planned.

Roberto Mendes – 27y

Financial ITHumanResources Administration

Daltro Leite – 27y

8

Average growth of roughly 25% p.a. in the last years.

Company: growth and profitability track record Revenues consolidated

EBITDA consolidated

331.4 408.4 537.4 655.0 842.9 898.5 1,175.3 1,450.0303.0 446.5

588.8850.5

980.8 922.4

1,321.91,468.1

515.7457.4402.7296.1234.1225.9212.9

1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

CAGR: 24.4%

CAGR: 15.9%

634.4854.9

1,126.21,505.5

1,823.7 1,820.9

2,497.22,918.1

Consolidated Rentals Used car sales

CAGR: 23.4%

4.3

42 62 85.2 134.3 154 149.9 152.1 197.8278.1 311.4

403.5504.1 469.7

649.5821.3

1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

CAGR: 23.9%CAGR: 22.6%

-0.6 7.55.7 3.2 4.0 6.1 5.2

1.9Average

1.12.71.34.30.30.03.4GDP 2.9

9

2005 2006 2007 2008 2009 2010 2011

5.7x

Rental revenues growth elasticity x GDP

Localiza

GDP

Sector

2.9x

Company: GDP elasticity

The drivers combined with Localiza’s competitive advantages resulted in a growth above the industry level.

10

17.9%20.5% 22.1%

24.8% 24.2%27.4%

30.4%

2005 2006 2007 2008 2009 2010 2011

18.9% 20.6% 20.8% 21.8% 21.4% 23.5% 24.1%

2005 2006 2007 2008 2009 2010 2011

Revenues - consolidated Fleet - consolidated

Fleet

Company: market share

Source: ABLA 2012 yearbook

36.5% 13.9%

Car Rental division Fleet Rental division

11

2011 - Would you recommend Localiza? YES!

Company: recognitions and rewards

Customers recognize premium service and recommend it!

94.6% 94.8% 96.0% 95.5% 95.3% 96.3% 95.9%

2005 2006 2007 2008 2009 2010 2011

Source: based on “Fale Fácil” satisfaction survey answered by more than 350,000 customers in 2011

95.9%

12

Company: recognitions and rewards

93.0%99.0%98.0%

Users VIP Users Contract managers

Customers recognize good service and recommend it!

Source: Users and VIP users based on phone interviews made by the Company with customers. Contract managers made by an independent research: Vox Populi

2011 - Would you recommend Total Fleet? YES!

98.0%

13

Company: recognitions and rewards

Customers recognize premium service and recommend it!

94.0%92.3%94.0%

2009 2010 2011

Source: based on phone interviews made by the Company with customers started in 2009

2011 - Would you recommend Seminovos? YES!

94.0%

14

Company: recognitions and rewards

2011 Valor 2008th Company in growth and profitability

Maiores e Melhores do Transporte 2011 (Biggest & Best of Transportation)The best Company of the vehicle rental sector

Institutional Investor’s ranking:

BRIC BreakoutOne of the 5 top picks Brazil for 2012

Exame MagazineAmong the 5 best Companies of the consumer sector, in the article “Where to invest in 2012”

49th most valued brand in BrazilBrand Analytics

15

1.The Company

2.Drivers and opportunities

3.Competitive advantages

4.Financials

Agenda

16

Drivers and growth opportunities

17

R$1.5 trillion to be invested.

Car rental drivers: investments by sector

Source: Valor Setorial Magazine, as of May 2012

679

343

182

85 8351

14 101517

Oil/ g as T ransp o rt at io n Energ y W at er/ sewag e Ind ust ry Ho t el / R eso rt Ho using Ot hers Inf rast ruct ure Sho p p ingC ent er

18

Income increase and stable daily rental rates increased car rental affordability.

Car rental drivers: income and affordability

GDP per capita (R$ thousands)

151

260

465510

545

645

240180 200

350415

380

300

18% 16% 15% 13%

31%

35%

15%

37%38%

51%

22% 20%27%

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

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

Car rental affordability

Source: IPEADATA, IBGE and Valor website, Bradesco (2012: estimated)

6.9 7.5 8.4 9.5 10.7 11.7 12.8 14.216.0 16.6

19.0 21.3

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

19

Strong domestic drivers leads to higher volumes.

Source: FGV, BCB, Infraero, Gol, Abecs and Exame (Dec/2011)

Car rental drivers: consumption

1320

31

2003 2009 2014e

53.8% 55.0%

A and B classes - million

71128 154 179

2003 2009 2010 2011

80.3%20.3% 16.2%

Air traffic passengers - million

1545 51

69

2003 2009 2010 2011

200.0% 13.3% 35.3%

Credit card holders - million

20Source: Company as of December 2011, ABLA (Brazilian Car Rental Association) and each company website (January, 2012)

Car rental opportunities: consolidation

Off-airport market is still fragmented.

Airport locations Off-airport locations

Car rental locations in Brazil

Others31Avis

30

Unidas27

Localiza100

Hertz41

Avis24

Unidas72

Localiza349 Hertz

76

Others2079

21

Localiza’s network is still being expanded.

Brazilian distribution

Car rental strategy: organic growth

279 312 346 381 415 449

254

2005 2006 2007 2008 2009 2010 2011

22Source: ABLA and Datamonitor

Fleet rental drivers: outsourcing trend

Less than 50% of targeted fleet is rented.

Outsourced fleet penetration

Corporate fleet:4,200,000

Targeted fleet:500,000

Rented fleet:232,000

31,629

Brazilian Market World

5.4%8.9%

13.3%16.5%

24.5%

37.4%

46.9%

58.3%

Brazil

Poland

Czech

Repu

blic

German

y

France

Spain Uk

Holland

23

Income increase and credit availability are the major drivers for car sales.Source: Bradesco (2012: estimated), ANFAVEA, Exame (Dec/2011).

Used car sales drivers: affordability and penetration

Car purchase affordability

6694.9

113

2003 2009 2014e

43.8%19.1%

Middle class - million

148 128115

97 10493

80

445256586875

151 180 200 240 260 300 350

645545510

465380

415

0

2 0

4 0

6 0

8 0

1 0 0

1 2 0

1 4 0

1 6 0

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

0

1 0 0

2 0 0

3 0 0

4 0 0

5 0 0

6 0 0

7 0 0

Number of minimum w ages to buy a new car Monthly minimum salary (R$)

*

24

8.0 7.9

7.4

6.96.5

5.9

5.5

2005 2006 2007 2008 2009 2010 2011

Income increase and credit availability are the major drivers for car sales.Source: O Estado de São Paulo, as of 04/15/12 (based on researches of Sindipeças, Roland Berger and PWC).

Used car sales drivers: affordability and penetration

# of inhabitants per car (2011) # of inhabitants per car - Brazil

5.5

4.2

4.0

3.6

2.1

2.0

1.9

1.8

1.3

Brazil

Argentina

Russia

South Korea

Japan

France

Germany

United Kingdon

USA

25

7.98.9

11.9

15.8

17.4

1.82.3 2.7 3.0 3.3 3.5

6.8

5.6

7.0

8.98.4

7.17.37.1

6.7

1.6

Brazilian car market: new x used car market and affordability

New cars4.4x

Individuals with affordability to buy a new car*

Used cars

Source: FENABRAVE (Autos + light commercial) and Bradesco

3.7x 3.1x 2.7x 2.4x 2.5x 2.6x

2005 2006 2007 2008 2009 2010 2011

Used car market is currently 2.6x the new car market.

* Population with affordability to buy a new compact car (R$25,000) with 20% downpayment

26

0km SeminovosUsed Seminovos 2 years old Seminovos

1.5% 10.6%

Up to 2 yearsUp to 2 years476,827476,827

0KM0KM3,425,4993,425,499

0.6%

UsedUsed8,862,9518,862,951

Brazilian car market : 2011 market share

Source: Fenabrave 2011

Localiza used cars x Car market

Used cars sold: 50,772

27

Brazilian car market: monthly sale per store

Localiza Seminovos monthly sale per store is in line with market average.

Monthly sale / lots*

Source: Anfavea (National OEM’s Association); number of dealers from each OEM association website (nov/11 )

* Average sales per lots (excluding auto malls – 10 stores)** Total sales divided by the number of dealers

10996 91 90 84 82 81

48

FIAT VW FORD GM SECTOR2010**

SEMINOVOS* RENAULT PEUGEOT

28

The network is being expanded to support rentals’ growth.

Brazilian distribution

Used car sales strategy: network expansion

26 32 3549 55 66

80

13

2005 2006 2007 2008 2009 2010 2011 2012e

29

Used car sales: sold cars evolution

The increase on sales was supported by the opening of new points of sale.

Sales profile

Financed In cash

Monthly average of sold cars

The macro prudential measures impacted the sales profile in 2011 and 2012.

2,508 2,857 2,877

3,940 4,231 4,428

2007 2008 2009 2010 2011 1Q12

55% 57% 58% 61% 52% 51%

45% 44% 42% 39% 48% 49%

2007 2008 2009 2010 2011 1Q12

30

1.The Company

2.Drivers and opportunities

3.Competitive advantages

4.Financials

Agenda

31

Raising money

Renting cars Selling carsBuying

cars

Cash to renew the fleet or pay debt

$

$

Profitability comes from rental divisions

Competitive advantages: 38 years of experience in managing assets

32

Competitive advantages: raising money

Global Scale

National Scale

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

As of May, 2012.

Renting carsRaisingmoney

Sellingcars

Buyingcars

BBB- FitchBaa3 Moody’s

BBB- S&PBBB+ S&P B+ S&P B+ Fitch B2 Moody's

brAAA S&P Aa1.br Moody’sAA+(bra) Fitch

A (bra) Fitch A- (bra) Fitch A- (bra) Fitch

33

2.3%

Fiat39.3%

GM21.0%

Renault9.9%Ford

11.0%

Others1.3%

VW17.5%

Better conditions due to higher volumes

Competitive advantages: buying cars

Localiza announced the purchase of 100,000 cars for 2H11 and 2012.

Localiza’ share in national sales of the main automakers in 2011: GM, FIAT, VW, Ford

and Renault

Purchases by brand in 2011

Renting carsRaisingmoney

Buyingcars

Sellingcars

34

The Company is present in 213 cities where the other largest networks do not operate.

Competitive advantages: renting cars

Know HowBrand Brazilian distribution

117

9954

# of

bra

nche

s#

of c

ities

450

270

Localiza Hertz Unidas Avis

Source: Brand Analytics and each company website (January, 2012)

Renting carsRaisingmoney

Buyingcars

Sellingcars

315

80 754049th most

valued brand in Brazil

35

Sales to final consumer

Competitive advantages: selling cars

Buffer: additional fleet

Selling directly to final consumer reduces depreciation.

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

Renting carsRaisingmoney

Buyingcars

Sellingcars

36

1.The Company

2.Drivers and opportunities

3.Competitive advantages

4.Financials

Agenda

37

Highlights

Investment Grade in global scale and brAAA in national scale by S&P

Included at Bovespa and IBrx50 indexes starting 01/02/2012

Increase in the ADTV to R$32 million in 1Q12 (R$23 million in 2011)

More than 500 rental locations

38

681.5774.7

1Q11 1Q12

Highlights

Consolidated EBITDA

Consolidated net income End of period fleet

Car rental Fleet rental

R$

mill

ion

Net Revenues - Consolidated

R$

mill

ion

13.7%12.8%

14.3%

186.2210.0

1Q11 1Q12

72.763.6

1Q11 1Q12

60,258

31,186

56,080

28,191

1Q11 1Q12

8.5%84,271 91,444

Qua

ntity

R$

mill

ion

39

Car Rental Division

Revenue grew above volume due to the increase in the average rental rate per car.

267.9233.0

980.7802.2

585.2565.2428.0

346.1258.6

2005 2006 2007 2008 2009 2010 2011 1Q11 1Q12

CAGR: 24.9%

22.3% 15.0%

3,4114,668

5,7937,940 8,062

10,73412,794

3,063 3,330

2005 2006 2007 2008 2009 2010 2011 1Q11 1Q12

CAGR: 24.6%

19.2% 8.7%

# daily rentals (thousand)

Net revenues (R$ million)

40

Fleet Rental Division

The Fleet Rental is still presenting strong pace of growth with revenue’s improvement.

142.0184.0 219.8 268.4 303.2 361.1

455.0

104.6 129.5

2005 2006 2007 2008 2009 2010 2011 1Q11 1Q12

CAGR: 21.4%

26.0% 23.8%

3,3514,188

5,1446,437 7,099

8,0449,603

2,253 2,611

2005 2006 2007 2008 2009 2010 2011 1Q11 1Q12

CAGR: 19.2%

15.9%19.4%

# daily rentals (thousand)

Net revenues (R$ million)

41

26,10533,520 38,050 44,211 43,161

18,763 23,17430,093 34,281 34,519

13,2858,065

59,950

8,723

65,934

11,581

47,285 50,772

2005 2006 2007 2008 2009 2010 2011 1Q11 1Q12

Net Investment

Car Rental fleet was reduced after the peak of summer vacation demand…

Fleet increase * (quantity)

Purchases (accessories included) Net used car sales revenues

Net investment (R$ million)

* It does not include theft / crashed cars.

690.0930.3 1,060.9

1,335.3 1,204.2

1,910.41,776.5

249.5446.5 588.8

850.5 980.8 922.4

1,321.91,468.1

340.7 373.3231.8

2005 2006 2007 2008 2009 2010 2011 1Q11 1Q12

(108.9) (123.8)243.5

341.5 210.4354.5 281.8

308.4588.5

(3,516)(4,562)7,342 10,346 7,957

18,649

9,930 8,642

9,178

Purchased cars Sold cars

42

Utilization rate – car rental division

...to keep utilization rate in healthy levels.

66.2% 69.9% 68.2% 68.9% 68.9%69.7%68.2%

74.1%66.3%

0 .0 %

5 .0 %

1 0 .0 %

1 5 .0 %

2 0 .0 %

2 5 .0 %

3 0 .0 %

3 5 .0 %

4 0 .0 %

4 5 .0 %

5 0 .0 %

5 5 .0 %

6 0 .0 %

6 5 .0 %

7 0 .0 %

7 5 .0 %

8 0 .0 %

8 5 .0 %

9 0 .0 %

9 5 .0 %

1 0 0 .0 %

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12

43

End of period fleetQuantity

Car rental Fleet rental

31,373 35,686 39,112 47,51761,445 64,688 56,080 60,25811,762

14,630 17,79023,403

22,778

26,615 31,62928,191 31,186

24,103

2005 2006 2007 2008 2009 2010 2011 1Q11 1Q12

35,86546,003

53,47662,515

70,295

88,06096,317CAGR: 17.9%

91,44484,271

8.5%

In spite of a reduction after peak of demand, end of period fleet grew 8.5% compared to the 1Q11.

44

Consolidated net revenuesR$ million

The growth was leveraged by the increase of 17.8% in the rental revenues.

Rentals Seminovos

408.4 537.4 655.0 842.9 898.5 1,175.3 1,450.0

340.8 401.4446.5 588.8

850.5980.8 922.4

1,468.1

340.7 373.3

1,321.9

2005 2006 2007 2008 2009 2010 2011 1Q11 1Q12

681.5 774.713.7%

17.8%

CAGR: 22.7%

854.91,126.2

1,505.51,823.7

2,918.1

1,820.9

2,497.2

23.4%

16.9%

45

EBITDA R$ million

Car rental margin was impacted by loss of scale, due to a lower growth rate.

Divisions 2005 2006 2007 2008 2009 2010 2011

46.9%

68.6%

53.8%

2.8%

45.3%

68.0%

52.3%

2.6%

45.9%

69.1%

53.3%

5.6%

1Q11 1Q12

42.0%

66.2%

Rentals consolidated 53.6% 52.9% 54.5% 51.1% 50.7% 49.9%

2.6%

44.0%

66.0%

3.9%

41.9%

68.7%

1.1%

43.4%

71.4%

4.6%

46.0%

71.3%

5.5%

Car rental 47.5%

Fleet Rental 65.5%

Used car sales 13.2%

277.9 311.3403.5

504.1 469.7649.5

821.3

186.2 210.0

2005 2006 2007 2008 2009 2010 2011 1Q11 1Q12

CAGR: 19.8%

12.8%

26.5%

46

Average depreciation per car

Depreciation is in line with the Company’s expectation for the current scenario.

1,536.0 1,683.9 1,965.8

332.9

2,546.0 2,577.0

939.1492.3

2005 2006 2007 2008 2009 2010 2011 1Q12

Hot used car market

Financial crisis effect

3,509.74,185.34,133.0

2,981.32,383.3

4,371.75,083.1

2,395.8

2005 2006 2007 2008 2009 2010 2011 1Q12

47

Consolidated net incomeR$ million

Net income growth of 14.3% superior to the growth of 12.8% in the EBITDA.

16.4%

72.763.6

291.6250.5

116.3127.4190.2

138.2106.5

2005 2006 2007 2008 2009 2010 2011 1Q11 1Q12

14.3%

Reconciliation EBITDA x net income 2007 2008 2011 Var. R$ Var. R$

164.8 27.3

(3.5)

23.8

(11.7)

(1.4)

(0.8)

(0.8)

9.1

7.0

171.8

(55.2)

(3.0)

(48.9)

(23.6)

41.1

357.1

46.4

403.5

(43.1)

(14.4)

(74.4)

Var. %

(81.4)

190.2

779.9449.6

54.5

504.1

(178.5)

(18.3)

(133.3)

26.8%

(46.6)

20.3%

127.4

41.4

821.3

(201.5)

(24.1)

(179.0)

26.5%

37.7%

14.2%

37.6%

23.3%(125.1)

291.6 16.4%

2009 2010

459.1

10.6

469.7

(172.3)

(21.0)

(112.9)

(47.2)

1Q11 1Q12 Var. %

EBITDA – Rentals and franchising

116.3

615.1

34.4

649.5

(146.3)

(21.1)

(130.1)

(101.5)

250.5

15.8%

-26.3%

EBITDA Consolidated 186.2 210.0 12.8%

25.3%

23.0%

1.9%

2.9%

14.3%

172.9 200.2

EBITDA – Used car sales 13.3 9.8

Cars depreciation (46.3) (58.0)

Other property and equipment depreciation (6.1) (7.5)

Financial expenses, net (42.8) (43.6)

Income tax and social contribution (27.4) (28.2)

Net income 63.6 72.7

48

Free cash flow - FCF

Cash generated before interest expenses was used for the reduction of the accounts payable to OEMs.

(*) without technical discount deduction

Free cash flow - R$ million 2005 2006 2007 2008 2009 2010 2011 1Q12

821.3 210.0

(373.3)

340.7

(29.6)

(29.8)

118.0

373.3

(249.5)

123.8

(16.8)

225.0

-

(211.8)

13.2

(4,562)

(1,468.1)

1,328.6

(83.0)

(83.9)

514.9

1,468.1

(1,504.5)

(36.4)

(63.0)

415.5

(272.0)

32.7

176.2

9,178

649.5

(1,321.9)

1,203.2

(57.8)

54.5

527.5

1,321.9

(1,370.1)

(48.2)

(51.1)

428.2

(540.3)

111.3

(0.8)

18,649

469.7

(922.4)

855.1

(49.0)

(11.5)

341.9

922.4

(947.9)

(25.5)

(21.0)

295.4

(241.1)

241.1

295.4

Fleet increase (decrease) - quantity 7,342 10,346 7,957 9,930 8,642

504.1

(980.8)

874.5

(52.8)

(44.8)

300.2

980.8

(1,035.4)

(54.6)

(39.9)

205.7

(299.9)

(188.9)

(283.1)

EBITDA 277.9 311.3 403.5

Used car sales net revenues (446.5) (588.8) (850.5)

Depreciated cost of used car sales (*) 361.2 530.4 760.0

(-) Income tax and social contribution (32.7) (42.7) (63.4)

Working capital variation (24.2) (4.8) 13.3

Cash provided before capex 135.7 205.4 262.9

Used car sales net revenues 446.5 588.8 850.5

Capex of car - renewal (496.0) (643.3) (839.0)

Net capex for renewal (49.5) (54.5) 11.5

Capex – other property and equipment, net (28.0) (32.7) (23.7)

Free cash flow before growth and interest 58.2 118.2 250.7

Capex of car - growth (194.0) (287.0) (221.9)

Change in accounts payable to car suppliers (capex) (25.5) 222.0 (51.0)

Free cash flow before interest (161.3) 53.2 (22.2)

49

Debt profileR$ million

Strong cash position and a comfortable debt profile.

Debt profile in 03/31/2012- principal (R$ million)

52.026.0

432.0562.0

303.5 315.8 245.2 102.9

2012 2013 2014 2015 2016 2017 2018 2019

Cash712.7

50

Debt – ratiosR$ million

Comfortable debt ratios.

Net debt x Fleet value

END OF PERIOD BALANCE 2005 2006 2007 2008 2009 2010 2011

57% 52%

2.0x

1.4x

5.0x

2.3x

51%

1.7x

1.2x

EBITDA / Net financial expenses 3.3x 4.8x 5.4x 3.8x 4.2x 4.6x

1.5x

4.8x

72%

2.5x

2.0x

1Q12

Net debt / Fleet value 60% 36% 51% 56%

Net debt / EBITDA (*) 1.9x 1.4x 1.9x 1.7x

Net debt / Equity 1.4x 0.7x 1.3x 1.2x

* annualized

Net debt Fleet value

535.8 440.4765.1

1,254.5 1,078.6 1,281.1 1,363.4 1,407.9900.2

1,247.71,492.9

1,752.6 1,907.82,446.7 2,681.7 2,528.7

2005 2006 2007 2008 2009 2010 2011 1Q12annualized

51

Spread

ROIC and spread reflect the Company’s competitive pricing strategy.

13.6%10.9%

8.4% 8.8% 7.6% 7.3% 8.6%

24.8%

18.7%21.3%

17.0%

11.5%16.9% 17.1% 15.1%

7.1%

2005 2006 2007 2008 2009 2010 2011 1Q12annualized

Cost of debt after tax ROIC

Spread

11.2p.p.7.8p.p. 12.9p.p. 8.2p.p.

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

8.0p.p.

2005 2006 2007 2008 2009 2010 2011 1Q12 a

2,445.3 2,677.7

25.1%

0.60x

15.1%

7.1%

8.0

28.9%

0.59x

17.1%

8.6%

8.5

1,984.6

28.6%

0.59x

16.9%

7.3%

9.6

1,642.3

32.1%

0.53x

17.0%

8.8%

Average capital investment - R$ million 606.3 986.2 1,137.5

8.2

1,702.3

21.9%

0.53x

11.5%

7.6%

4.0

NOPAT margin (over rental net revenues) 37.0% 34.5% 36.9%

Turnover of average capital investment (over rental net revenues) 0.67x 0.55x 0.58x

ROIC 24.8% 18.7% 21.3%

Interest on debt after tax 13.6% 10.9% 8.4%

Spread (ROIC – Interest after tax) - p.p. 11.2 7.8 12.9

52

Investment grade

Financial discipline and conservative policies of the Company were recognized by the 3 main rating agencies.

Global scale BBB- Baa3 BBB-

National scale brAAA Aa1.br AA+(bra)

Main highlights of the S&P upgrade report:

Relevant market position of Localiza in the Brazilian car and fleet rental markets

High operating efficiency

Strong cash position

Plenty of room in the contracted covenants

Excellent presence in debt markets

Solid relationships with banks

53

IR Team

DisclaimerThe 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’smanagement, 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 the underwriters. 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 hereinshall form the basis of any contract or commitment whatsoever.

Nora LanariRoberto Mendes Silvio GuerraCFO - RI RI RI

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