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

2. Car Rental DivisionAverage Rented fleet(Quantity) Net Revenues(R$ millions) CAGR: 31.3% 9.7% CAGR: 34.6% 8.5% 3. Fleet Rental DivisionCAGR: 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$200.4 millions.Purchased carsSold cars Quantity 7,342 10,346 6,467 7,957 9,930 -2,079 -7,441 5. End of period fleet and utilization rates Utilization rates Car Rental division End of period fleet(quantity) CAGR: 21.5% 28,699 35,865 46,003 53,476 62,515 51,239 54,817 7.0% Car RentalFleet Rental 6. 16.1% CAGR: 28.8% 14,450 18,710 24,477 30,232 39,728 35,817 41,576 Net revenue - Consolidated Average Rented fleet(Quantity) Car rentalFleet rental -5.2% RentalsUsed car salesCAGR: 30.8% 634.4 876.9 1,145.4 1,531.7 1,855.7 470.5 446.1 13.8% Net Revenues(R$ millions) 7. EBITDA margin EBITDA consolidated(R$ millions) Car RentalUsed car salesCAGR: 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% 3.120.0EBITDA - Used car sales 11.3% 112.3100.9EBITDA - Car rental and fleet rental 13.8% 229.4201.6 Revenues car rental and fleet rental Var. % 1Q09 1Q08 Reconciliation ofEBITDA 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) 983.2297.8(44.8) (52.8) 395.4874.5(983.2) 504.12008 (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 250.7118.258.252.0Free 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 853.2590.3448.2303.0Used car sales revenues 260.2203.9134.0108.5Cash provided before capex 13.3(4.8) (24.2) 6.2Working capital variation (63.4) (42.7) (32.7) (40.9) (-) Income tax and social contribution current 310.3251.4190.9143.2EBITDA withoutused car sales revenues and costs 760.0530.4361.2248.7Cost of used car sales (853.2) (590.3) (448.2) (303.0) Used car sales revenues 403.5311.3277.9197.5EBITDA 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 Debt03/31/2009 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 debtFleet valueIndebtedness 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$185,2 millions. Data-based: 03/31/20092009 debt was prepaid. 14. EVA The Company is already adopting appropriate measures to increase the EVA. 8.6 100.0 114.3 76.2 EVA R$ million 0.46.110.17.7Spread (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 1,137.5 986.2Average investment cappital R$ million 1Q09 (annualized) 2008 2007 2006 15. Performance RENT3112% 69% Average daily trade volume (R$ millions) Average daily trading 1Q09: RENT3 14% x 9% IBOVESPA. 16. Strategies for the current scenario

Fleet strategies:

• Keep 2009 end of period fleet at same levels of the end of 2008

• Increase the utilization rate to at least 72% in car rental division

• Resume fleet renewal for the car rental division

Debt strategy:

• Contract debt only for extending debt profile

Others strategies:

• Postpone non-car capex

• Increase daily rates for new contracts and contracts renewal in the fleet rental division

17. Thank you!