1. 1Q12 Results Webcast
May 15, 2012

2. Quarter Highlights
April 23rd we became a member of the select group of 126 companies
which currently trades on the Novo Mercado, with our shares being listed
under the ticker “LCAM3”;
On May 2, Fitch Ratings increased Locamerica’s ratings to A- (bra) which
places the company on a new level of Investment Grade;
Operating Margins soar to historical record in 1Q12;
Net profit increased 47.3% in 1Q12 over 1Q11, to R$7.9 million, with net
margin increasing by 2.0 p.p. to 10.5%;
ROIC LTM increased to 15.0% in the quarter, 2.8 percentage points above
1Q11, while ROE LTM was 16.3% in the period, a robust 9.5 p.p. higher
than the 1Q11 figure.
2

3. Consolidated Revenues
Consolidated Net Revenues – R$ Million
390.7
309.2 118.2
112.4
212.1
64.5
272.5
94.9
196.8 89.7
147.6 26.4 19.8
63.3 75.1
2009 2010 2011 1Q11 1Q12
Net Rental Revenue Used Cars Sales Revenue
3

4. EBITDA
EBITDA – R$ million
155.6
108.8
74.5
45.9
37.1
2009 2010 2011 1Q11 1Q12
¹ EBITDA Margin on Net Rental Revenue
4

5. Consolidated Net Income
Net Income– R$ million
22.6
11.6
7.9
5.4
2009 2010 2011 1Q11 1Q12
(8.5)
5

6. Fleet - End of Period
Fleet End of Period - Units
28,631
27,262
21,913 22,288
15,535
2009 2010 2011 1Q11 1Q12
6

7. Operating Performance
Final Fleet Breakdown Utilization Rate¹
28,631
27,262
96.9% 96.9%
3,596
96.3% 96.5% 96.6% 96.8% 96.4% 96.1%
2,911
1,445 95.3%
22,288 1,023
1,071
532
23,328 23,590
20,685
1Q11 4Q11 1Q12
1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12
Operating Deployment Demobilization
¹ Average Rented Fleet / Average Operating Fleet
Operacional 1.445
Operacional1.445
Operacional
1.445 Implantação
Implantação Desativação
Desativação
Desativação
7

8. Consolidated Revenues
Rental Net Revenue– R$ Million Used Car Sales Revenues – R$ Million
75.1
72.1
68.0 69.1
63.3
56.5
51.6
46.5
42.2
33.6 34.2
27.8 29.4 27.9 29.7
26.4
21.6 19.8
1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12
8

9. Net Rental Revenues
Average Monthly Tariff – R$ # daily rentals - thousand
2,083
1,242 1,243
1,233 1,958
1,219
1,849 1,869
1,197 1,790
1,660
1,504
1,150 1,147
1,123 1,330
1,105 1,211
1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12
9

10. Used Car Sales Net Revenues
Cars Sold¹ Average Selling Price¹
Preço Médio de Venda
22.8
1,582
22.1
1,303 1,342
1,262 21.6
21.4
865 20.9
1Q11 2Q11 3Q11 4Q11 1Q12 1Q11 2Q11 3Q11 4Q11 1Q12
¹ Includes Total Loss sold ¹ Includes Total Loss sold
10

11. Operating Costs
Avg. Monthly Maintenance Cost per Vehicle¹ Depreciation / Avg. Fixed Assets²
R$ 342
R$ 321 6.5% 6.5% 6.6%
6.4%
R$ 316 6.1%
R$ 298
R$ 295
2009 2010 2011 1Q11 1Q12 1Q11 2Q11 3Q11 4Q11 1Q12
¹ Average Operating Fleet ² Vehicles and Acessories
11

12. SG&A Expenses
SG&A % / Net Revenue¹ Fleet per employee²
42.3
14.0% 41.6
12.1% 11.9% 40.6
10.5%
9.6%
37.1
35.5
1Q11 2Q11 3Q11 4Q11 1Q12 1Q11 2Q11 3Q11 4Q11 1Q12
¹ Consolidated Net Revenue ² Operating Fleet
12

13. EBITDA and EBIT
EBITDA and EBITDA Margin¹ EBIT and EBIT Margin²
45.9
41.1 40.4
37.1 36.9
33.3
30.8 29.1
27.3 26.5
58.6% 59.5% 61.1%
54.3% 56.1%
43.1% 44.5% 40.4% 44.3%
39.0%
1Q11 2Q11 3Q11 4Q11 1Q12 1Q11 2Q11 3Q11 4Q11 1Q12
¹ EBITDA Margin on Rental Net Revenue ² EBIT Margin on Rental Net Revenue
13

14. Net Income and Returns
Net Income and Net Margin¹ ROE² and ROIC³
7.9
16.3%
14.6% 15.2%
6.2 6.1 13.6%
5.4 12.3%
4.9 15.0%
14.4% 14.9%
11.6%
9.2% 10.5%
8.5% 8.8%
6.8% 6.8%
1Q11 2Q11 3Q11 4Q11 1Q12 1Q11 2Q11 3Q11 4Q11 1Q12
% ROE LTM % ROIC LTM
¹ Net Income / Rental Net Revenue ² ROE LTM = (Net Income / Average Equity last 5 quarters) x 100.
Excludes CPC 39 effects.
³ ROIC LTM = (NOPLAT / Average Accounts Receivable – Suppliers + Fixed Assets)
x 100.
14

15. 5.473 5.489
5.473 5.489
Investment
4.467
2.828
2.828
Fleet Increase
2009 2010 2011
2010Compra Cars 2011
Purchased Receita de Venda
Compra Sold Cars
Receita de Venda 5,567 5,563
5.567 5.563
1,453
5.567 5.563
11,040 11,052
11.040 11.052 430 2,318
11.040 11.052
1,639 1,692
5,473 5,489 1,262
1.639 4,467
9 865
5.473
2,828 5.489
4.467 5.473 5.489
2.828 2009 2010 2011 1Q11 1Q12
2.828
Net Fleet CAPEX – R$ Million
2009 2010 2011
Purchases
2010
Compra 2011
Receita de Venda
Compra Used Cars Sales Revenues
Receita de Venda 195.9
178.4
318.3
291.9 48.6
22.6
50.4 68.3
49.0
115.6 113.5 122.4
26.4
65.2 19.8
2009 2010 2011 1Q11 1Q12
15

16. Debt Profile - 03/31/2012
Debt Amortization Schedule
250.2
159.6 173.0 165.0
2012 2012 2013 2014 Up to 2016
Cash
187.2
156.0
343.2
* Proforma after IPO
16

17. Financial Ratios
Net Debt x Fleet Value
750.5 750.5
711.1
562.7 560.6
523.9
393.4 404.6
381.2
243.9
¹ ¹
2009 2010 2011 1Q12 1Q12 Proforma
Net Debt Fleet Value
1Q12¹
Balance at end of period 2009 2010 2011 1Q12¹
Proforma
Net Debt / Fleet Value 64.0% 69.9% 73.7% 74.7% 53.9%
Net Debt / EBITDA 3.27 3.61 3.37 3.06 2.20
Net Debt / Equity 15.49 2.96 3.92 4.13 2.98
EBITDA / Net financial expenses 1.35 2.42 1.87 2.02 2.02
¹ Annualized
17

18. Thank you!
www.locamerica.com.br/ri
Contact: ri@locamerica.com.br
+55 31 3316.1981
Legal Notice - This release contains forward-looking statements relating to the prospects of the business, estimates for operating and
financial results, and those related to growth prospects of Lojas Renner S.A. and are merely projections and, as such, are based exclusively
on the expectations of the Company’s management concerning the future of the business. Such forward-looking statements depend
substantially on changes in market conditions, the performance of the Brazilian economy, the sector and the international markets, and are
therefore subject to change without prior notice.