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  • 1. Localiza Rent a Car S.A.3Q09 and YTD results(R$ millions - USGAAP) 1 October, 2009

2. Car rental divisionNet revenue (R$ millions)R: 31.3% CAG585.7 2.4% 442.7430.5440.8357.2 271.3 -2.0% 197.1151.9148.920042005 2006200720089M08 9M09 3Q08 3Q09Average rented fleet (Quantity)0.0% -4.5%% : 34.6 CAGR21,848 21,44821,457 22,700 21,683 15,937 12,842 9,402 6,654 2004 2005 2006200720089M08 9M093Q09 3Q09 Revenues grew 2.4% in the 9M09 due to an increase in the daily rates.2 3. Fleet rental division Net revenue (R$ millions) % : 21.3 CAGR% 276.91 4 .9228.2 230.9190.2 200.9 149.2 127.87.5% 78.7 73.2 20042005 20062007 2008 908 9M09 3Q08 3Q09Average rented fleet (Quantity) 13. 9% 5.4% 23.1% 19,435 18,532 19,538 CAGR:17,880 17,069 14,295 11,635 9,308 7,796 20042005 20062007 2008 9M089M093Q08 3Q09 The revenues growth is a consequence of the increase in volumes and prices. 3 4. Fleet increase (quantity)Fleet investment 9,930 7,957 13,86410,3467,34244,2111,334 6,467 41,499 38,05033,52034,2817,240 11,10830,09327,635 26,10524,518 23,184 22,18223,17418,763 17,86719,18515,71510,6278,077 20042005 2006 200720089M08 9M09 3Q083Q09Purchased carsSold carsNet investment (R$ millions)352.1 207.7 443.636.1 340.0 1,335.3 241.8 1,238.3 1,060.9983.2235.1 296.9190.1930.3 853.2 794.7 690.0 661.7625.6 590.3 493.1448.2538.0509.4303.0302.9212.520042005 2006 200720089M08 9M09 3Q08 3Q09 Purchases (accessories included) Used car sales revenue 45% of the car rental divisions fleet has been already renewed.4 5. End of period fleet and utilization rateEnd of period fleet (quantity) % : 21.5-5.3% CAGR62,515 66,696 63,138 53,47646,00322,481 23,40322,04735,86517,790 28,699 14,63011,762 9,16844,215 41,09131,37335,686 39,112 19,531 24,103 2004 2005 200620072008 9M089M09 Car rental Fleet rental Utilization rate Car rental division76.2%70.5% 68.3% 68.6%67.6%9M08 9M09 1Q092Q09 3Q09 The current fleet returned to December 2008 level.5 6. Net revenues - consolidated Net revenues (R$ millions) 0.8% R: 3 1,855.7-8.9% CAG 1,531.7 1,433.31,305.2 1,145.4 983.2 876.9 853.2794.7 -16.6% 625.6 634.4590.3448.2 530.4442.5303.0872.5302.9555.1678.5638.66.4% 679.6% 212.5331.4 428.7 227.5 1.1 230.0 20042005 2006 2007 2008 9M08 9M09 3Q08 3Q09Rental Used car salesAverage rented fleet (quantity) % 6.2%: 28.8 0,0%CAGR 40,89239,728 38,517 41,232 41,22130,23218,532 19,53824,47717,88017,069 19,43518,71014,295 14,450 11,635 7,7969,308 21,84821,448 21,457 22,700 21,6839,402 12,84215,937 6,6542004 2005 2006 200720089M08 9M09 3Q08 3Q09Car rental Fleet rental 6 7. Network expansion Number of locations car rental division199 206178 145 +7 11783 + 21 + 33 + 28 + 34 20042005 2006200720089M09Number of used cars sales stores % + 20 4232 3526 +7 13 13 +3 +6 + 132004 20052006200720089M09 In 2009 the Company continues to increase its network. 7 8. EBITDA MarginEBITDA consolidated (R$ million)6.4%R: 2CAG504.1 -9.9% 403.554.5 378.3340.9311.3277.9 46.4 51.3 -13.1%197.59.7 26.9 59.1 449.61.3% 133.9116.336.5 357.1327.0 331.2 284.4 18.3 -3.7% 5.0161.0 218.8115.6 111.3 2004 20052006 200720089M089M093Q08 3Q09 RentalUsed car sales Divisions2004 2005 2006 2007 20089M089M093Q08 3Q09 Carrental 40.1%45.3% 42.0% 44.5%44.3% 44.3%39.3%41.8%39.2%Fleetrental 63.4%62.3% 69.1% 68.7%67.0% 66.3%66.7%69.7%65.9%Rentals consolidated 48.6%51.0% 51.2% 52.6%51.5% 51.2%48.7%50.8%48.4% Usedcarsales 12.0%13.2%4.6% 5.4% 5.5%6.5%1.6%6.0% 2.4% EBITDA margins still consistent. 8 9. Depreciation per carCar rental division (R$)3,763.3 2,546.0 2,729.71,133.4939.1 777.0 322.9 492.3332.9200420052006 2007 2008 9M089M09 3Q083Q09 annualizedFleet rental division (R$)6,238.65,083.14,622.92,981.32,552.12,670.1 2,383.32,395.8 1,845.5 2004 2005 2006200720089M089M093Q08 3Q09 annualized The launching of 2010 models impacted the 3Q09 depreciation. 9 10. Net incomeNet income (R$ millions) 190.2157.2 - 50138.2127.4 .4 % 106.5- 58 90.6.9 %78.0 50.1 20.6 20042005 2006 20072008 9M089M093Q08 3Q09 Reconciliation of EBITDA x Net Income9M08 9M09Var. R$ 3Q08 3Q09Var. R$ EBITDA - Car rental and fleet rental 327.0331.24.2115.6111.3 (4.3) EBITDA - Used car sales 51.3 9.7 (41.6)18.3 5.0 (13.3) EBITDA Consolidated378.3340.9(37.4) 133.9116.3(17.6) Depreciation of revenue-earning vehicles (53.2)(132.2) (79.0) (22.9)(62.1)(39.2) Other depreciation (13.3) (15.9)(2.6)(4.7) (5.3) (0.6) Financial expenses, net(88.8) (88.3) 0.5(36.1)(22.8)13.3 Income tax and social contribution (65.8) (26.5)39.3(20.1) (5.5)14.6 Net income 157.278.0 (79.2)50.120.6 (29.5) Main impacts on results: drop of Seminovos EBITDA and increase of fleet depreciation.10 11. Free cash flow - FCFFCF before growth (R$ million)395.2 250.7 205.7118.252.0 58.22004 2005 2006 20072008 9M09Free cash flow - R$ millions200420052006200720089M09 EBITDA 197.5 277.9 311.3 403.5 504.1 340.9Used car sales revenues(303.0) (448.2) (590.3) (853.2)(983.2)(625.6)Cost of used car sales248.7 361.2 530.4 760.0 874.5 576.9 EBITDA without used car sales revenues and costs 143.2 190.9 251.4 310.3 395.4 292.2(-) Income tax and social contribution current(40.9)(32.7)(42.7)(63.4)(52.8)(37.5)Working capital variation 6.2 (24.2) (4.8) 13.3 (44.8)(32.7) Cash provided before capex 108.5 134.0 203.9 260.2 297.8 222.0Used car sales revenues 303.0 448.2 590.3 853.2 983.2 625.6Capex of car renewal (349.3) (496.0) (643.3) (839.0) (1.035.4) (625.7) Change in amounts payable to car suppliers (capex)- - - - -186.3 Net capex for renewal(46.3)(47.8)(53.0) 14.2 (52.2)186.2 Capex - Property and equipment, net(10.2)(28.0)(32.7)(23.7)(39.9)(13.0) Free cash flow before growth52.058.2 118.2 250.7 205.7 395.2 Capex of car growth (143.8) (194.0) (287.0) (221.9)(299.9) (36.0) Change in amounts payable to car suppliers (capex)(21.9)(25.5)222.0 (51.0)(188.9) 36.0Free cash flow(113.7) (161.3) 53.2 (22.2)(283.1) 395.211 12. Net debt reconciliation Free cash flow395.2 Net debtNet debt 12/31/2008 -30.9 -58.509/30/2009 -1,254.5 -948.7 Dividends InterestR$305.8 million net debt reduction YTD. 12 13. Debt ratios(R$ million) 1,752.61,687.61,492.91,247.71.254,5900,2 948.7765.1 612,2535,8 440.4 281,3 2004 2005 20062007 20089M09 Net debt Fleet valueBALANCEATTHEENDOFTHEPERIOD 2004 2005 2006 200720089M09 Netdebt /Fleet value (USGAAP)46% 60% 36% 51%72%56%Netdebt /EBITDA(USGAAP) 1.4x1.9x1.4x1.9x 2.5x2.1x(*)Netdebt /EBITDA(BRGAAP) 1.1x1.5x1.0x1.3x 1.8x1.5x(*)Netdebt /Equity(USGAAP) 1.0x1.4x0.7x1.3x 2.0x 1.4x (*) annualizedIndebtedness ratios have improved significantly on the 9M09 over 2008.13 14. Debt profile(Principal)On 09/30/09 R$ million350.9205.4 210.0 209.6166.8100.00.2 2010 20112012 201320142015 359.8 cash 200,0*559.8Proforma R$ million255.4251.7 209.6 166.8 100.00.29.2 109.82010 2011 2012 2013 2014 2015 cash 100.0* Pro forma considers the debentures early redemption and the fund raising of R$ 100 millions 209.8 * Limited amount approved by BNDES / PEC 14 15. RENT3 Performance R E N T 3 X IB O V E S P A P e rf o rm a nc e 25 20052006 2007 20082009 200 180 20160 140 15120362%100 1080 60 154% 540 2000Vo lume RENT3RENT3IB OVESP A9M09: RENT3 +149% x +64% IBOVAverage daily volume (R$ millions) Average daily volume (# shares)14.7 13.5 961.7956.410.610.7 829.7767.89.5 729.5 687.58.4648.74.6385.4 0%3.1 4% 1537 2005 2006 2007 2008 20091Q092Q093Q09 2005 2006 2007 2008 2009 1Q092Q09 3Q09 Record daily amount and number of shares traded in the 3Q0915 16. Macroeconomic scenario 4.5% GDP growth in 2010 (Focus)5.1% real interest rate in 2010 (Focus)2014 Soccer World Cup in Brazil2016 Olympic Games at Rio de Janeiro16 17. Car market scenario Car Market1.925 2.0001.997 1.991 1.818 1.808 1.7541.675 1.7071.671 1.600 1.6241.494 1.200781852 689721758624617 668800559575469400 -1Q07 2Q07 3Q07 4Q071Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09Used car market New car market The used car market is following the recovery trend of the new car market. Source: Anfavea e Fenabrave17 18. Thanks!18