1. Localiza Rent a Car S.A. April, 2009 1Q09 Results (R$ millions - USGAAP)

2. Car Rental Division Average Rented fleet (Quantity) Net Revenues (R$ millions) CAGR: 31.3% 9.7% CAGR: 34.6% 8.5%

3. Fleet Rental Division CAGR: 21.3% 23.2% Net Revenues (R$ millions) CAGR: 23.1% 25.8% Average Rented fleet (Quantity)

4. Fleet Investment 241.8 340.0 190.1 207.7 Purchases (accessories included) Used car sales revenue Net Investment (R$ millions) 352.1 -44.3 -200.4 The fleet was adjusted with the selling of 7,441 cars, which generated R$200.4 millions. Purchased cars Sold cars Quantity 7,342 10,346 6,467 7,957 9,930 -2,079 -7,441

5. End of period fleet and utilization rates Utilization rates – Car Rental division End of period fleet (quantity) CAGR: 21.5% 28,699 35,865 46,003 53,476 62,515 51,239 54,817 7.0% Car Rental Fleet Rental

6. 16.1% CAGR: 28.8% 14,450 18,710 24,477 30,232 39,728 35,817 41,576 Net revenue - Consolidated Average Rented fleet (Quantity) Car rental Fleet rental -5.2% Rentals Used car sales CAGR: 30.8% 634.4 876.9 1,145.4 1,531.7 1,855.7 470.5 446.1 13.8% Net Revenues (R$ millions)

7. EBITDA margin EBITDA consolidated (R$ millions) Car Rental Used car sales CAGR: 26.4% 277.9 197.5 403.5 504.1 311.3 -4.5% 120.9 115.4 Seminovos EBITDA margin reflects the current market conditions. 11.3% 5.5% 67.0% 44.3% 2008 4.6% 69.1% 42.0% 2006 7.4% 62.0% 44.9% 1Q08 5.4% 68.7% 44.5% 2007 1.4% 13.2% 12.0% Used car sales Seminovos 65.2% 62.3% 63.4% Fleet Rental 40.8% 45.3% 40.1% Car Rental 1Q09 2005 2004 Divisions

8. Depreciation per car Car rental division (R$) Fleet rental division (R$) (1Q09 annualized) (1Q09 annualized) The current depreciation rate is sufficient to adjust the book value to the sale price.

9. Net Income - Consolidated - 43.6% Net Income (R$ millions) The drop in the car prices and the increase in the financial expenses impacted the net income. -43.6% -23.3 30.2 53.5 Net income -100.0% -0.1 - (0.1) Minority interest 12.1 -10.8 -1.1 -18.0 -5.5 -16.9 11.4 27.8 Var. R$ -51.9% (11.2) (23.3) Income tax and social contribution 38.6% (38.8) (28.0) Financial expenses, net 26.2% (5.3) (4.2) Other depreciation 151.3% (29.9) (11.9) Depreciation of revenue-earning vehicles -4.5% 115.4 120.9 EBITDA Consolidated -84.5% 3.1 20.0 EBITDA - Used car sales 11.3% 112.3 100.9 EBITDA - Car rental and fleet rental 13.8% 229.4 201.6 Revenues – car rental and fleet rental Var. % 1Q09 1Q08 Reconciliation of EBITDA x Net Income

10. (R$ millions) 238.8% Free cash flow - FCF (8.8) (89.3) - 80.5 (3.4) 44.3 (224.6) 268.9 39.6 (28.4) (20.3) 88.3 236.3 (268.9) 120.9 1Q08 275.3 2.6 - 272.7 (2.1) 200.4 (16.3) 216.7 74.4 (9.2) (16.6) 100.2 201.5 (216.7) 115.4 1Q09 (283.1) (188.9) (299.9) 205.7 (39.9) (52.2) (1,035.4) 983.2 297.8 (44.8) (52.8) 395.4 874.5 (983.2) 504.1 2008 (22.2) 53.2 (161.3) (113.7) Free cash flow (51.0) 222.0 (25.5) (21.9) Change in amounts payable to car suppliers (capex) (221.9) (287.0) (194.0) (143.8) Capex of car – growth 250.7 118.2 58.2 52.0 Free cash flow before growth (23.7) (32.7) (28.0) (10.2) Capex - Property and equipment, net 14.2 (53.0) (47.8) (46.3) Net capex for renewal (839.0) (643.3) (496.0) (349.3) Capex of car – renewal 853.2 590.3 448.2 303.0 Used car sales revenues 260.2 203.9 134.0 108.5 Cash provided before capex 13.3 (4.8) (24.2) 6.2 Working capital variation (63.4) (42.7) (32.7) (40.9) (-) Income tax and social contribution – current 310.3 251.4 190.9 143.2 EBITDA without used car sales revenues and costs 760.0 530.4 361.2 248.7 Cost of used car sales (853.2) (590.3) (448.2) (303.0) Used car sales revenues 403.5 311.3 277.9 197.5 EBITDA 2007 2006 2005 2004 Free cash flow - R$ millions

11. -1,254.5 -1,013.6 Interest Interest on capital Net Debt 12/31/2008 Net Debt 03/31/2009 Free Cash Flow Net debt reconciliation Debt was reduced in R$381.5 million since the world crises impacted the Brazilian economy. (381.5) (194.1) (187.4) 34.2 (153.2) Var. Sep/Mar (R$) -27.2% -15.6% -11.3% Var. Sep/Mar (%) 1,198.8 1,384.4 1,352.0 Gross debt 185.2 129.9 151.0 (-) Cash 1,259.5 5.0 1,254.5 Dec/08 1,021.2 7.6 1,013.6 Mar/09 201.7 (+) Cars suppliers 1,402.7 Net debt + Cars suppliers 1,201.0 Net debt Sep/08 R$ million

12. Net debt x Fleet value (R$ millions) Net debt Fleet value Indebtedness ratios improved significantly in the 1Q09 against 2008. (*) annualized 2.0x 1.8x 2.5x 72% 2008 1.5x 1.3x 0.7x 1.4x 1.0x Net debt / Equity (USGAAP) 1.6x(*) 1.3x 1.0x 1.5x 1.1x Net debt / EBITDA (BRGAAP) 2.2x(*) 1.9x 1.4x 1.9x 1.4x Net debt / EBITDA (USGAAP) 66% 51% 36% 60% 46% Net debt /Fleet value (USGAAP) 1Q09 2007 2006 2005 2004 End of period balances

13. Debt profile Debt profile (Principal – R$ millions) Cash and cash equivalent on March 31 st , 2009: R$185,2 millions. Data-based: 03/31/2009 2009 debt was prepaid.

14. EVA The Company is already adopting appropriate measures to increase the EVA. 8.6 100.0 114.3 76.2 EVA – R$ million 0.4 6.1 10.1 7.7 Spread (ROIC - WACC) - p.p. 11.6% 10.9% 11.2% 11.0% Nominal WACC 14.1% 11.3% 11.5% 11.0% Cost of equity 7.8% 8.2% 8.4% 10.9% Cost of debt 12.0% 17.0% 21.3% 18.7% ROIC 0.49 x 0.53 x 0.60 x 0.56 x Turnover of average investmet capital 24.6% 32.1% 35.6% 33.4% NOPAT margin 1,877.9 1,642,3 1,137.5 986.2 Average investment cappital – R$ million 1Q09 (annualized) 2008 2007 2006

15. Performance RENT3 112% 69% Average daily trade volume (R$ millions) Average daily trading 1Q09: RENT3 14% x 9% IBOVESPA.

17. Thank you!