Car Rental 2 Fleet Rental 3 Seminovos 4 Financials 5 Appendix: Earnings Release 3Q18

Investor Relations Presentation November, 2018. , AGENDA 1 COMPANY OVERVIEW 2 COMPETITIVE ADVANTAGES 3 MAIN BUSINESS DIVISIONS 1 CAR RENTAL 2 FLEET RENTAL 3 SEMINOVOS 4 FINANCIALS 5 APPENDIX: EARNINGS RELEASE 3Q18 2 COMPANY HISTORY: MILESTONES Phase III: Phase IV: Digital Phase I: Rise to #1 Phase II: Expansion Reaching Scale Transformation Expansion strategy PE firm DL&J enters at IPO with a Market Cap of Founded in Belo by adjacencies: a market cap of US$295 mm 100,000 cars Strategic partnership Horizonte with 6 Seminovos US$150 mm with Hertz - VW Beetles 1.000 cars 150,000 cars 1979 1984 1992 1999 2006 2014 2018 1973 1982 1991 1997 2005 2011 2017 +222,000 cars Beginning of Market Cap Expasion to 11 Expansion Internationalization Expansion strategy by 50,000 cars Digital Transformation US$3.8 Billion (09/30/18) capital cities strategy through Franchising adjacencies: Fleet becoming market by adjacencies: Rental leader in 1981 Franchising 3 CAR RENTAL FLEET RENTAL • 156,436 CARS •51,236 CARS • 8.3 MILLION CLIENTS • +1,000 CLIENTS • 395 LOCATIONS • 304 EMPLOYEES INTEGRATED • 4,788 EMPLOYEES SYNERGIES: BARGAINING POWER BUSINESS COST REDUCTION CROSS SELLING PLATFORM OVERHEAD AND SUPPORT: 1,335 EMPLOYEES THIS INTEGRATED PLATFORM GIVES LOCALIZA FRANCHISING USED CAR SALES FLEXIBILITY AND SUPERIOR • 14,505 CARS • 48% SOLD TO FINAL CONSUMER PERFORMANCE • 127 LOCATIONS IN BRASIL • 101 STORES • 61 LOCATIONS IN SOUTH AMERICA • 67 CITIES • 33 EMPLOYEES • 1,317 EMPLOYEES 3Q18 4 COMPANY: BUSINESS PLATFORM DIVISIONS CAR RENTAL FRANCHISING FLEET RENTAL USED CAR SALES SELLS THE USED CARS MAINLY TO RENTS TO INDIVIDUALS AND CONTRIBUTES TO EXPAND OUTSOURCES FLEET FOR 2-3 FINAL CONSUMERS AFTER THE COMPANIES AT AIRPORTS AND YEARS’ TERM CONTRACTS. RENTAL AND ESTIMATES THE OFF AIRPORT LOCATIONS. LOCALIZA’S NETWORK. RESIDUAL VALUES. • HIGH FIXED COST STRUCTURE • HIGH PROFITABILITY • LOW FIXED COST STRUCTURE • EFFICIENCY AREA RESPONSIBLE TO SELL • STANDARDIZED FLEET • LOW CONTRIBUTION TO EARNINGS • CUSTOMIZED FLEET CARS FROM RAC AND FLEET DIVISIONS • 1 YEAR CYCLE • RESPONSIBLE TO DEVELOP NEW • 2-3 YEARS CYCLE • KNOW HOW OF USED CARS MARKET • HIGHER ENTRY BARRIERS MARKETS • LOWER ENTRY BARRIERS • LOW DEPENDENCE OF INTERMEDIATES • GAINS OF SCALE • CAPITAL INTENSIVE • ALLOWING FOR LOWER DEPRECIATION • CAPITAL INTENSIVE • CONCENTRATED AIRPORT MARKET • FRAGMENTED OFF AIRPORT MARKET 5 BIG NUMBERS ✓ Market leader with market cap of R$ 15.2 billion on September 30, 2018 ✓ End of period fleet of 222,177 cars in 9M18 ✓ R$5.6 billion of net revenues in 9M18 ✓ Rented fleet growth of 44.8% in the Car Rental and 21.3% in the Fleet Rental Division in 9M18 ✓ ROIC of 12.8%, spread of 7.8 p.p compared with the cost of debt after taxes 6 Consolidated breakdown – 9M18 R$ million Net Revenues EBITDA EBIT* R$5,636 R$1,142 R$907 624 11% 1,806 595 32% 66% 401 622 35% 55% 312 34% 3,205 57% 119 10% *Seminovos results recorded in the Car Rental and Fleet Rental Divisions COMPANY’S PROFITABILITY COMES FROM CAR RENTAL AND FLEET RENTAL DIVISIONS 7 AGENDA 1 COMPANY OVERVIEW 2 COMPETITIVE ADVANTAGES 3 MAIN BUSINESS DIVISIONS 1 CAR RENTAL 2 FLEET RENTAL 3 SEMINOVOS 4 FINANCIALS 5 APPENDIX: EARNINGS RELEASE 3Q18 8 COMPETITIVE ADVANTAGES PROFITABILITY COMES FROM RENTAL DIVISIONS RAISING BUYING RENTINGALUGUEL SELLING MONEY CARS DECARS CARS CARS CASH TO RENEW THE FLEET OR PAY DEBT 45 YEARS OF EXPERIENCE IN MANAGING ASSETS AND GENERATING VALUE. 9 COMPETITIVE ADVANTAGES RAISING BUYING RENTING SELLING MONEY CARS CARS CARS RAISING MONEY INVESTMENT GRADE: LOWER SPREADS AND LONGER TENORS Player A Player B/C Player D brAAA S&P AA (bra) Fitch Aa1.br Moody’s A+(bra) Fitch A+(bra) Fitch National scale brAA+ S&P AAA(bra) Fitch BB Fitch B1 Moody´s Ba2 Moody’s B+ S&P BB S&P Global scale B+ S&P BB+ S&P LOCALIZA RAISES MONEY WITH BETTER CONDITIONS THEN ITS COMPETITORS. Source: Bloomberg October, 2018. 10 COMPETITIVE ADVANTAGES RAISING BUYING RENTING SELLING CARS RAISING MONEY MONEY CARS CARS 2018 Bonds - R$ million % CDI 140% 135% Player A R$182 130% 123.1% 125% Player D R$99 Player C R$350 Player A R$130 119.9% Localiza R$800,0 123.0% 119.0% 112.3% 120% Player A R$250 121.0% Player A R$138 115% 118.4% Player B R$500 117.5% Player C R$411 114.7% 110% Player C R$88 Player C R$113.0% 113.2% 105% Player B R$150,0 110.6% Localiza Fleet R$300 Localiza R$200 107.9% 112.0% Localiza R$300 100% 108.0% 95% 90% 1.5 2.5 3.5 4.5 5.5 6.5 7.5 8.5 9.5 Years 11 COMPETITIVE ADVANTAGES BUYING CARS RAISING BUYING RENTING SELLING MONEY CARS CARS CARS Number of cars purchased – 9M18 Localiza’s share in the internal sales of the OEMs* - 9M18 111,383 41,318 49,738 Localiza* Player A Player B+C* 7.1% *it includes Franchisees *it considers the 12 OEMs listed above LOCALIZA BUYS CARS WITH BETTER CONDITIONS DUE TO THE VOLUME OF PURCHASES. Source: website of each company and ANFAVEA. 12 COMPETITIVE ADVANTAGES RENTING CARS RAISING BUYING RENTING SELLING MONEY CARS CARS CARS BRAZILIAN DISTRIBUTION # OF LOCATIONS # OF CITIES 522 404 360 186 145 96 218 Localiza Competitors Localiza Player B Player A Most recognized and desired brand in the category Leader in loyalty and superior quality • Co-branding with Hertz, the most well-known brand, with presence • Winner of Época ReclameAqui award for the 3rd consecutive year in +150 countries • Customer superior satisfaction (NPS) • 24th most valuable brand in Brazil in 2017 (Interbrand ranking) • Culture of delighting • Brand with the largest awareness and preference in the sector • Modern and diversified fleet • Presence online and offline Source: Locations and cities: Localiza 3Q18 results and each company’s website as of As of 10/24/18 for its competitors 13 COMPETITIVE ADVANTAGENS FLEET RENTAL RAINSING BUYING CARS FLEET RENTAL SELLING CARS MONEY Innovations that generate strategic Good interaction with customers, information for the customer´s business and New ways of developing technologies facilitating the resolution of problems added value for the business with agility and customer collaboration 14 COMPETITIVE ADVANTAGES SELLING CARS RAISING BUYING RENTING SELLING MONEY CARS CARS CARS Buffer: additional fleet Distribution in Brazil Sales to final consumer Big data during peaks of demand 101 points of sale Lower depreciation Best understanding of costumer preference 67 cities in Brazil Loyalty of customers, Pricing estimate generating good repurchase rates and - Depreciation Digital Sale indication + Residual Value Input for car purchase EFFICIENCY AREA TO REDUCE DEPRECIATION 15 COMPETITIVE ADVANTAGES WITH OPERATIONAL EXCELLENCE RAISING BUYING RENTING SELLING MONEY CARS CARS CARS CAR PREPARATION DELIVERY IN THE BRANCHES OPERATING CAR CAR DECOMISSIONING • Quality control of the cars • Transport tracking • Maintanance and repair • Car checking delivered by OEM’S • Logistic management • Traffic fines processing • Preparation for sales • Car licensing optimization • Licensing renewal • Transportation to Seminovos stores 16 ... AND INNOVATION RAISING BUYING RENTING SELLING MONEY CARS CARS CARS Digital register and Chatbot® self check-in Localiza Fast Anti fraud Facebook / messenger Automatic capture of the driver’s Mobile-based counter Taylor-made solution for booking assistant license for new costumers and bypass. Customers can pick- fraud prevention in car expedite check-in. up car bypassing our counter rentals Connected Fleet Mobile Solution Online Fleet Rental Integrated technology solution that Integrated mobile solution to Fast diagnosis and fleet rental services for drivers friendly dashboard for increases competitive intelligence and and contract manager. leverages productivity gains. fleet manager. DIFFERENTIATED OFFER WITH HIGHER VALUE ADDED TO CUSTOMERS 17 CAR RENTAL: FINANCIAL CYCLE 2017 Per car Car sale revenue 1 year cycle net of SG&A R$36.0 Revenue 1 2 3 4 5 6 Expenses , interest and tax 7 8 9 10 11 12 R$38.2 Average car price (2 years) Car Rental Seminovos Total Per operating car Per car sold 1 year R$ % R$ % R$ Net revenues 19.6 100.0% 38.8 100.0% 58.4 Costs - fixed and variable (9.2) -47.1% (9.2) SG&A (3.5) -18.0% (2.9) -7.4% (6.4) Net revenues of car sold 36.0 92.6% 36.0 Book value of car sold (33.9) -87.2% (33.9) EBITDA 6.9 34.9% 2.1 5.4% 9.0 Cars Depreciation (1.2) -3.2% (1.2) Others depreciation (0.3) -1.3% (0.1) -0.3% (0.4) Financial expenses (2.4) -6.3% (2.4) Taxes (1.5) -7.6% 0.4 1.0% (1.1) Net Income (Loss) 5.1 26.0% (1.3) -3.4% 3.8 NOPAT 5.7 ROIC (it consideres only cars in capital invested) 14.9% Cost of debt after taxes 7.6% 18 FLEET RENTAL: FINANCIAL CYCLE 2017 Car sale revenue Per car net of SG&A 3 year cycle R$31.8 Revenue 1 2 3 4 5 6 Expenses , interest and tax 31 32 33 34 35 36 R$43.1 Average car price (3 years) Fleet Rental Seminovos Total Per operating car Per car sold 3 years R$ % Seminovos % R$ Net revenues 60.5 100.0% 34.1 100.0% 94.6 Costs - fixed and variable (17.9) -29.7% (17.9) SG&A (5.1) -8.4% (2.4) -7.0% (7.5) Net revenues of car sold 31.7 93.0% 31.7 Book value of car sold (28.7) -84.1% (28.7) EBITDA 37.5 61.9% 3.0 8.9% 40.5 Cars Depreciation (9.3) -27.3% (9.3) Others depreciation (0.3) -0.5% (0.1) -0.4% (0.4) Financial expenses (6.5) -19.1% (6.5) Taxes (8.4) -13.9% 2.9 8.6% (5.5) Net Income (Loss) 28.8 47.6% (10.0) -29.4% 18.8 Net Income (Loss) - per year 9.6 47.6% (3.3) -29.4% 6.3 NOPAT 7.9 ROIC (it consideres only cars in capital invested) 18.4% Cost of debt after taxes 7.6% 19 ROIC versus COST OF DEBT AFTER TAXES 17.8% 16.7% 17.0% 15.4% 15.6%* 12.8% 7.5p.p.

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