2. 2
1. Company overview
2. Main business divisions
Car rental
Fleet rental (fleet outsourcing)
Seminovos
3. Consolidated
4. Debt and cash
5. Appendix
Earnings release 1Q13
Agenda
3. 3
Company: milestones
Phase I – Rise to #1
1973 – Founded in Belo Horizonte/MG
Late 70’s - Acquisitions in the
Northeast of Brazil
1981 – Brazilian car rental leader in #
of branches
Phase II – Expansion
1984 – Expansion strategy by
adjacencies: Franchising
1991 – Expansion strategy by
adjacencies: Seminovos
1997 – PE firm DL&J enters at a market
cap of US$ 150 mm
1997 – Expansion strategy by
adjacencies: Fleet rental (fleet
outsourcing)
Phase III – Reaching Scale
2005 – IPO: market cap of US$ 295 mm
2011 – Rated as investment grade by
Moody’s, Fitch and S&P in 2012
2012 – ADR level I
04/30/2013 – Market cap of US$3.7 bi
with ADTV of R$42.8 million
1973 1982 1983 2004 2005 2013
4. 4
Company: integrated business platform
This integrated business platform gives Localiza flexibility and superior performance.
Based on the 1Q13
Synergies:
bargaining power
cost reduction
cross selling
15,103 cars
200 locations in Brazil
55 locations in South
America
41 employees
61.3% sold to final
consumer
74 stores
1,015 employees
64,043 cars
3.5 million clients
278 locations
4,448 employees
32,212 cars
741 clients
358 employees
5. 5
Company: Business platform divisions
Car rental
Localiza car rental rents to
individuals or businesses
at airports and other
locations.
The traditional backbone of
Localiza. With its giant fleet
that gets renewed annually,
it lays the foundation for all
scale effects captured by
the group as a whole.
Fleet rental
(fleet outsourcing)
Total Fleet, offering
customized fleet for 2-3
years terms.
Total Fleet is seen as an
additional business that
generates value by
leveraging synergies
created by the integrated
platform approach.
Used car sales
Support area, with the
objective to sell the
Company’s used cars and
add know-how in buying
cars and estimating the
residual value.
As a support business
activity, Seminovos enables
the sell roughly 70% of
used cars directly to the
final customer, thereby
maximizing the residual
value of used rental cars.
Franchising
Supplementary business,
with the purpose to expand
the brand’s network.
Franchising is seen as a
primarily strategic business
by management – the
revenues generated are
low, however brand and
network expand at
minimum capital
expenditure.
6. 6
R$28.4
Car acquisition
Net car sale
revenue
R$24.41 year cycle
2012 - Car Rental Financial Cycle
R$26.4
without IPI (7%)
1 2 3 4 5 6 7 8 9 10 11 12Expenses, interest and tax
Revenue
(*) Excluding additional depreciation effect related to IPI reduction
(**) ROIC over the car acquisition cost without IPI: 18.7%
Spread
11.1p.p.
Total
1 year
R$ % R$ % R$
Net revenues 20.4 100.0% 27.1 100.0% 47.5
Costs (8.9) -43.6% (8.9)
SG&A (3.2) -15.6% (2.7) -10.0% (5.9)
Net car sale revenue 24.4 90.0% 24.4
Book value of car sale (23.2) -85.5% (23.2)
EBITDA 8.3 40.9% 1.2 4.5% 9.6
Depreciation (vehicle) (1.9) (*) -7.0% (1.9)
Depreciation (non-vehicle) (0.4) -1.8% (0.2) -0.9% (0.6)
Interest on debt (1.7) -6.4% (1.7)
Tax (2.4) -11.7% 0.8 2.9% (1.6)
NET INCOME 5.6 27.3% (1.9) -6.9% 3.7
NOPAT 4.9
ROIC (**) 17.4%
Cost of debt (average CDI + 1.19%) after tax 6.3%
per operating car per operating car2012
Car Rental Seminovos
7. 7
R$36.1
Car acquisition
Net car sale
revenue
R$23.22 year cycle
2012 - Fleet Rental (Fleet Outsourcing) Financial Cycle
Spread
8.7p.p.
R$33.6
without IPI (7%)
1 2 3 4 5 6 19 20 21 22 23 24Expenses, interest and tax
Revenue
(*) Excluding additional depreciation effect related to IPI reduction
(**) ROIC over the car acquisition cost without IPI: 16.1%
Total
2 years
R$ % R$ % R$
Net revenues 35.3 100.0% 25.6 100.0% 60.9
Costs (9.6) -27.3% - 0.0% (9.6)
SG&A (2.2) -6.3% (2.4) -9.3% (4.6)
Net car sale revenue 23.2 90.7% 23.2
Book value of car sale (22.5) -88.0% (22.5)
EBITDA 23.4 66.4% 0.7 2.7% 24.1
Depreciation (vehicle) (8.6) (*) -33.7% (8.6)
Depreciation (non-vehicle) (0.1) -0.2% - 0.0% (0.1)
Interest on debt (2.9) -11.3% (2.9)
Tax (7.0) -19.9% 3.2 12.7% (3.8)
NET INCOME 16.3 46.3% (7.6) -29.6% 8.8
NET INCOME per year 8.2 46.3% (3.8) -29.6% 4.4
NOPAT 5.4
ROIC (**) 15.0%
Cost of debt (average CDI + 1.19%) after tax 6.3%
2012
Fleet Rental Seminovos
per operating car per operating car
8. 8
Spread (ROIC minus interest rates paid for third parties after tax)
10,90%
8,40% 8,84%
7,59% 7,33% 8,60% 6,34% 5,33%
18,70%
21,25%
17,03%
11,54%
16,94% 17,12% 16,10% 15,13%
2006 2007 2008 2009 2010 2011 2012 1Q13
7.8p.p. 12.9p.p.
8.2p.p.
4.0p.p.
9.6p.p. 8.5p.p. 9.8p.p.
Annualized
9.8p.p.
ROIC Interest rates paid to third parties after taxes
(*) 2008 and 2012 ROIC were calculated excluding additional fleet depreciation that was treated as equity loss since they were
extraordinary non-recurring events caused by external factors (IPI reduction for new cars), following the concepts recommended
by Stern Stewart.
9. 505.9 608.2
745.2
883.1
1,087.1 1,096.3
1,382.1
1,605.4 1,703.0
2004 2005 2006 2007 2008 2009 2010 2011 2012
9
Rental revenues evolution
4,091.5 4,128.9 4,255.7 4,542.6 4,971.7 5,141.7 5,763.9 6,038.7 6,230.0
2004 2005 2006 2007 2008 2009 2010 2011 2012
Localiza’s rental revenues at constant prices
Sector’s revenue at constant prices
In 2012 the Company grew 6.8x GDP and 3.6x the sector.
GDP 5.7% 3.2% 4.0% 6.1% 5.2% -0.3% 7.5% 2.7% 0.9%
Average GDP growth: 3.9%
Source: ABLA (Brazilian Car Rental Association)
11. 11
Competitive advantages: raising money
Global Scale
National Scale
Localiza raises money with lower spreads when compared to Brazilian competitors.
As of May, 2013.
BBB- S&P
Baa3 Moody’s
BBB- Fitch
BBB+ S&P B+ S&P B+ Fitch B1 Moody's
brAAA S&P
Aa1.br Moody’s
AA+(bra) Fitch
A+ (bra) Fitch
brA S&P
A (bra) Fitch
brA S&P
A (bra) Fitch
Raising
money
Buying
cars
Renting Cars
Selling
Cars
12. 12
Competitive advantages: buying cars
Localiza buys cars with better conditions due to the volume of purchases.
Number of cars purchased - 2012
* Includes Franchising
Localiza Unidas Locamerica
67,492
15,376
9,522
*
Source: each company website
Localiza’s share in the internal sales of the major
OEMs - 2012
2.1%
Raising
money
Buying
cars
Renting Cars
Selling
Cars
13. 13
The Company is present in 254 cities where the other largest networks do not operate.
Competitive advantages: renting cars
Know HowBrand Brazilian distribution
#ofbranches#ofcities
Localiza Hertz Unidas Avis
Source: Brand Analytics and each company website (Localiza and Peers, March of 2013)
118
118
52
478
288
340
80 68
29
Raising
money
Buying
cars
Renting Cars
Selling
Cars
14. 14
Sales to final consumer
Competitive advantages: selling cars
Selling directly to final consumer reduces depreciation.
Cars available for sale are used by car rental division during peaks of demand.
Raising
money
Buying
cars
Renting Cars
Selling
Cars
Buffer: additional fleet
15. 15
1. Company overview
2. Main business divisions
Car rental
Fleet rental (fleet outsourcing)
Seminovos
3. Consolidated
4. Debt and cash
5. Appendix
Earnings release 1Q13
Agenda
19. 19
Source: Abla and each company’s website (March, 2013)
Off-airport market is still fragmented.
Airport locations Off-airport locations
Car Rental Locations in Brazil
20. 2012 Share – Car Rental
Source: ABLA, Companies’ Financial Statements, and Localiza’ estimates (breakdown only).
20
36.7%
7.1%
Others
50.0%
6.2%
Gross Rental
Revenue
R$3,083 million
Unidas
Others
58.1%
30.9%
4.6%
6.5%
Fleet
210,506 cars
Unidas
Characteristics of Car Rental network in Brazil:
Complex chain management
High fixed-cost structure
Market consolidated in airports and fragmented in off-airport locations
High barrier to entry
Capital intensive
43.8%
35.5%
21. 21
2012 Share – Car Rental
Others Consolidated
Gross Revenues*
R$ million
1,350 191 1,542 3,083
Fleet (End of period) * 74,667 13,602 122,237 210,506
Strenghts**
• Unrivaled local scale
• Strong footprint
• Synergies
• Stable management
• Capitalized by three
Private Equity funds
• Local expertise
• Low fixed cost
structure -
Weaknesses**
----
• Weak footprint
• Relatively weak brand
• Unclear priorities
between rental and fleet
• Used car sales retail
network
• Funding costs
• High funding costs
• Lack of scale
• Weak footprint
• Weak brand
-
* Companies’ Financial Statements and Brazilian Car Rental Association (ABLA) ** Roland Berger.
22. 22
1. Company overview
2. Main business divisions
Car rental
Fleet rental (fleet outsourcing)
Seminovos
3. Consolidated
4. Debt and cash
5. Appendix
Earnings release 1Q13
Agenda
24. 2012 Share – Fleet Rental (Fleet Outsourcing)
Source: ABLA, Companies’ Financial Statements, and Localiza’ estimates (breakdown only).
24
Others
62.2%%
17.6%
1.7%
7.8%
10.7%
Gross Rental
Revenues
R$3,147 million
Unidas
Locamerica
Others
70.1%
11.5% 0.9%
7.0%
10.5%
Fleet
279,042 cars
Unidas
Locamerica
Characteristics of the Fleet Rental (Fleet Outsourcing) business in Brazil:
Scale of little relevance after initial scale (10,000 cars)
Risk of forecast of car residual value by the end of the contract (depreciation)
Low entry barrier
19.3%
12.4%
25. 25
Others Consolidated
Gross Revenues*
R$ million
607 245 337 1,958 3,147
Fleet (End of period)* 34,527 19,585 29,252 195,678 279,042
Strenghts**
• Takes advantage of
synergies provided
by the integrated
platform
• Capitalized
(Private Equity
funds)
• Synergies with
its rental car
business area
• Brazil’s second
player
• Successful IPO
04/2012
-
-
Weaknesses**
• Loss making in
the last six years
(competing on
price in the
pursuit of market
share)
• Used car sales
retail network
• Low profitability
(competing on
price in the
pursuit of market
share)
• Depreciation
calculus
• Used car sales
retail network
• High funding costs
• Competing by
price
• Lack of scale
-
2012 Share – Fleet Rental (Fleet Outsourcing)
* Companies’ Financial Statements and Brazilian Car Rental Association (ABLA) ** Roland Berger.
26. 26
Source: ABLA and Datamonitor
Aproximately 50% of targeted fleet is rented (outsourced).
Rented (outsourced) fleet penetration
Corporate fleet:
5,167,444
Targeted fleet:
500,000
Rented (outsourced) fleet:
279,042
32,104
Brazilian Market World
5.4%
8.9%
13.3%
16.5%
24.5%
37.4%
46.9%
58.3%
B
razil
PolandC
zech
Republic
G
erm
any
France
Spain
U
k
H
olland
Drivers
27. 27
1. Company overview
2. Main business divisions
Car rental
Fleet rental (fleet outsourcing)
Seminovos
3. Consolidated
4. Debt and cash
5. Appendix
Earnings release 1Q13
Agenda
28. 28
Combining Localiza’s brand with a growing network of stores
enables the Company to continuously sell thousands of cars at market prices.
# of points of sale
Car sales – operating data
26 32 35
49 55
66
73 74
2006 2007 2008 2009 2010 2011 2012 1Q13
+1
29. 29
8.0 7.9
7.4
6.9
6.5
5.9
5.5
2005 2006 2007 2008 2009 2010 2011
Income increase and credit availability are the major drivers for car sales.
Source: O Estado de São Paulo, as of 04/15/12 (based on researches of Sindipeças, Roland Berger and PWC).
Used car sales drivers: affordability and penetration
# of inhabitants per car (2011) # of inhabitants per car - Brazil
5.5
4.2
4.0
3.6
2.1
2.0
1.9
1.8
1.3
Brazil
Argentina
Russia
South Korea
Japan
France
Germany
United Kingdon
USA
30. 2.9
3.8
6.0 5.8
8.0
9.9
10.7
12.9
7.0
6.7
7.1 7.3 7.1
8.4
8.9 9.0
1.6 1.8
2.3
2.7
3.0
3.3 3.5 3.6
30
4.4x
3.7x
3.1x 2.7x
2.4x 2.5x 2.5x
2005 2006 2007 2008 2009 2010 2011 2012
2.6x
Brazilian car market: new x used car market and affordability
Individuals with
affordability to
buy a car*
New cars
Used cars
Source: FENABRAVE (Autos + light commercial) and Bradesco
* Population with affordability to buy a new compact car (R$25,000) with 20% downpayment, prices as of December 2012
31. 31
2012 Up to 2 years
458,684*
2012 Brand new
3,634,421
2012 Used cars
9,011,470
0.6% 1.6% 12.3%
Car sales – operating data
*Estimate considering the same percentage used in 2011
Source: Fenabrave
23.174
30.093
34.281 34.519
47.285
50.772
56.644
13.285 12.934
2006 2007 2008 2009 2010 2011 2012 1Q12 1Q13
# of cars sold (Quantity)
-2.6%
32. 32
Examples
• Dealers
• Fiat, VW, Ford, GM most
successful
• Auto Brasil
• Rental operators
• Locamerica, Hertz
• Retailers
• “Loja do carro”
• “Auto malls” and
“Cidade do
automóvel”
Strengths*
• Brand and perceived
image/ experience
• Support often directly
from the OEM’s
• Flexibility in trade-in cars
• Strong media presence
• Tailored to popular
customer demand at
purchase, hence likely
to be an attractive value
proposition when for
sale
• Often appeal to lower
income classes, with
older cars
• Occasionally
specialized in niches
• Comfort and
convenience
• Variety of models
and brands
• Flexibility in
exchange
Weaknesses*
• Used cars not a core
business
• Cars often older than 2
years
• Stigma about heavy
usage during rental car
years
• Weak retail network
• Geographical
concentration (SP)
• Lower media presence
• No brand recognition
(lower reputation
market)
• Financing options with
higher interest rates
• Lower media
presence
• Cars often older than
2 years
• It hasn’t been
successful
Points of sale • 3,714 (Anfavea)
• 25 (Unidas, Locamerica,
Avis and Hertz website).
• 45,600 (Fenauto) • 71 (Fenauto)
Main players
*Source: Roland Berger
33. 33
1. Company overview
2. Main business divisions
Car rental
Fleet rental (fleet outsourcing)
Seminovos
3. Consolidated
4. Debt and cash
5. Appendix
Earnings release 1Q13
Agenda
35. 35
2012 Consolidated breakdown
R$ million
Net Revenues EBITDA
7%
41% 52%
48%
17%
35%
Company’s profitability comes from Car Rental and Fleet Rental (Fleet Outsourcing) Divisions.
EBIT*
42%
58%
Rental Seminovos
Net revenues EBITDA EBIT Net income
1,111.0 456.2 267.9 131.7
535.7 355.9 197.9 109.2
1,520.0 63.5 * *
Consolidated 3,166.7 875.6 465.8 240.9
*Seminovos results recorded in the Car Rental and Fleet Rental (Fleet Outsourcing) Division.
39. 39
Additional Depreciation due to lower IPI tax rate
R$ million
Division
Additional Depreciation
Accounted
To be
accounted
Total
2012 1Q13 Subtotal From 2Q13 on
Car Rental
111.2 3.2 114.4 1.6 116.0
95.9% 2.8% 98.6% 1.4% 100.0%
Fleet Rental
(Fleet Outsourcing)
33.3 6.8 40.1 24.4 64.5
51.6% 10.5% 62.2% 37.8% 100.0%
Consolidated 144.5 10.0 154.5 26.0 180.5
40. 254.5
346.2 307.5 276.4
482.1
595.7
465.8
144.5 148.1
2006 2007 2008 2009 2010 2011 2012 1Q12 1Q13
40
Consolidated EBIT
R$ million
* EBIT pro- forma excludes the additional depreciation of R$144.5 million due to the IPI tax exemption.
610,3 *
Divisions 2006 2007 2008 2009 2010 2011 2012 1Q12 1Q13
Car Rental 146.4 220.6 214.0 158.2 315.4 388.0 267.9 88.0 54.3
Fleet Rental (Fleet
Outsourcing)
108.1 125.6 93.5 118.2 166.7 207.7 197.9 56.5 56.4
Rental Consolidated 254.5 346.2 307.5 276.4 482.1 595.7 465.8 144.5 110.7
41. 41
Consolidated Net Income
R$ million
Reconciliation EBITDA vs. Net income 2009 2010 2011 2012 1Q12 1Q13 Var. R$ Var. %
Consolidated EBITDA 469.7 649.5 821.3 875.6 210.0 217.2 7.2 3.4%
Car depreciation (172.3) (146.3) (201.5) (376.9) (58.0) (60.5) (2.5) 4.3%
Other property depreciation and amortization (21.0) (21.1) (24.1) (32.9) (7.5) (8.6) (1.1) 14.7%
Financial expenses, net (112.9) (130.1) (179.0) (138.7) (43.6) (23.0) 20.6 -47.2%
Income tax and social contribution (47.2) (101.5) (125.1) (86.2) (28.2) (36.3) (8.1) 28.7%
Net income 116.3 250.5 291.6 240.9 72.7 88.8 16,1 22.1%
138.2
190.2
127.4 116.3
250.5
291.6
240.9
72.7 88.8
2006 2007 2008 2009 2010 2011 2012 1Q12 1Q13
336.3 *
* Pro forma net income excluding additional depreciation of R$144.5 million, net of income tax.
Record
42. 42
1. Company overview
2. Main business divisions
Car rental
Fleet rental (fleet outsourcing)
Seminovos
3. Consolidated
4. Debt and cash
5. Appendix
Earnings release 1Q13
Agenda
43. 4343
(Unleveraged) Free Cash Flow
(*) Technical discount deduction excluded until 2010
Free cash flow - R$ million 2006 2007 2008 2009 2010 2011 2012 1Q13
EBITDA 311.3 403.5 504.1 469.7 649.5 821.3 875.6 217.2
Used car sale revenue, net from taxes (588.8) (850.5) (980.8) (922.4) (1,321.9) (1,468.1) (1,520.0) (363.8)
Depreciated cost of cars sold (*) 530.4 760.0 874.5 855.1 1,203.2 1,328.6 1,360.2 320.9
(-) Income tax and social contribution (42.7) (63.4) (52.8) (49.0) (57.8) (83.0) (100.9) (23.0)
Change in working capital (4.8) 13.3 (44.8) (11.5) 54.5 (83.9) 37.1 (32.7)
Cash provided by the operation 205.4 262.9 300.2 341.9 527.5 514.9 652.0 118.6
Used car sale revenue, net from taxes 588.8 850.5 980.8 922.4 1,321.9 1,468.1 1,520.0 347.3
Car investment for renewal (643.3) (839.0) (1,035.4) (947.9) (1,370.1) (1,504.5) (1,563.3) (341.5)
Net investment for fleet renewal (54.5) 11.5 (54.6) (25.5) (48.2) (36.4) (43.3) 5.8
Fleet renewal – quantity 23,174 30,093 34,281 34,519 47,285 50,772 56,644 12,349
Other property investment (32.7) (23.7) (39.9) (21.0) (51.1) (63.0) (80.2) (7.7)
Free cash flow before growth 118.2 250.7 205.7 295.4 428.2 415.5 528.5 116.7
Investment on cars for fleet (growth) /reduction (287.0) (221.9) (299.9) (241.1) (540.3) (272.0) (55.5) 16.5
Change in accounts payable to car suppliers 222.0 (51.0) (188.9) 241.1 111.3 32.7 (116.9) (56.7)
Fleet growth (65.0) (272.9) (488.8) 0.0 (429.0) (239.3) (172.4) (40.2)
Fleet increase / (reduction) – quantity 10,346 7,957 9,930 8,642 18,649 9,178 2,011 (585)
Free cash flow after growth 53.2 (22.2) (283.1) 295.4 (0.8) 176.2 356.1 76.5
44. 44
Changes in net debt
R$ million
Net debt was reduced by 9.7% in 2012 and 3.1% in this quarter.
1,193.5
(23.0)
Interest
(15.8)
Interest on own
capital
Net debt
03/31/2013
FCF
76.5
1,231.2
Net debt
12/31/2012
(138.6)
Interest
(85.3)
Dividends
Net debt
12/31/2012
FCF
356.1
1,363.4
Net debt
12/31/2011
1,231.2
217.5
FCF after interest
FCF after interest
53.5
45. 45
Debt - ratios
Net debt vs. Fleet value
BALANCE AT THE END OF
PERIOD 2006(*) 2007(*) 2008(*) 2009(*) 2010(*) 2011 2012 1Q13
Net debt / Fleet value 36% 51% 72% 57% 52% 51% 48% 48%
Net debt / EBITDA (**) 1.4x 1.9x 2.5x 2.3x 2.0x 1.7x 1.4x 1,4x
Net debt / Equity 0.7x 1.3x 2.0x 1.5x 1.4x 1.2x 0.9x 0,8x
EBITDA / Net financial expenses 4.8x 5.4x 3.8x 4.2x 5.0x 4.6x 6.3x 9,4x
(*) From 2006 to 2010, ratios based on USGAAP financial statements.
(**) 1Q13 EBITDA annualized
Net debt Fleet value
Comfortable debt ratios.
440.4
765.1
1,254.5
1,078.6
1,281.1 1,363.4 1,231.2 1,193.51,247.7
1,492.9
1,752.6
1,907.8
2,446.7 2,681.7 2,547.6 2,503.1
2006 2007 2008 2009 2010 2011 2012 1Q13
46. 46
Debt Profile (principal)
R$ million
The Company continues presenting a strong cash position and comfortable debt profile.
182.6 247.7 194.9
592.0
462.0
146.0 172.0
2013 2014 2015 2016 2017 2018 2019
Cash
897.5
625.2
Cash available at the Company is enough to pay 100% of debt from years 2013, 2014,2015 and 46% of 2016’s.
.
47. 47
Localiza Level I ADR
Ticker Symbol: LZRFY
CUSIP: 53956W300
ISIN: US53956W3007
Ratio: 1 Common Share : 1 ADR
Exchange: OTC
Depositary bank: Deutsche Bank Trust Company Americas
ADR broker helpline: +1 212 250 9100 (New York)
+44 207 547 6500 (London)
E-mail: adr@db.com
ADR website: www.adr.db.com
Depositary bank’s local custodian: Banco Bradesco S/A, Brazil
48. 48
Disclaimer
Disclaimer
The material presented is a presentation of general background information about LOCALIZA as of the date of the presentation. It is information in summary form and does not purport to
be complete. It is not intended to be relied upon as advice to potential investors. This presentation is strictly confidential and may not be disclosed to any other person. No representation
or warranty, express or implied, is made concerning, and no reliance should be placed on, the accuracy, fairness, or completeness of the information presented herein.
This presentation contains statements that are forward-looking within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
Such forward-looking statements are only predictions and are not guarantees of future performance. Investors are cautioned that any such forward-looking statements are and will be, as
the case may be, subject to many risks, uncertainties and factors relating to the operations and business environments of LOCALIZA and its subsidiaries that may cause the actual results
of the companies to be materially different from any future results expressed or implied in such forward-looking statements.
Although LOCALIZA believes that the expectations and assumptions reflected in the forward-looking statements are reasonable based on information currently available to LOCALIZA’s
management, LOCALIZA cannot guarantee future results or events. LOCALIZA expressly disclaims a duty to update any of the forward-looking statement.
Securities may not be offered or sold in the United States unless they are registered or exempt from registration under the Securities Act of 1933. Any offering of securities to be made in
the United States will be made by means of an offering memorandum that may be obtained from any underwriters we may appoint in connection with an offering of securities in future.
Such offering memorandum will contain, or incorporate by reference, detailed information about LOCALIZA and its business and financial results, as well as its financial statements.
This presentation does not constitute an offer, or invitation, or solicitation of an offer, to subscribe for or purchase any securities. Neither this presentation nor anything contained herein
shall form the basis of any contract or commitment whatsoever.
Website: www.localiza.com/ir E-mail: ri@localiza.com Phone: 55 31 3247-7024
Roberto Mendes
CFO and IR
Nora Lanari
Head of IR
