1. Localiza Rent a Car S.A. July, 2009 2Q09 and1H09 Results (R$ millions - USGAAP)

2. Car rental division CAGR: 34.6% -3.1% CAGR: 31.3% -0.1% 4.8% 2.4% Even on this unfavorable scenario, revenues have grown 4,8% on 1H09. Net revenues (R$ millions) Average rented fleet (quantity)

3. Fleet rental division CAGR: 23.1% 11.9% CAGR: 21.3% 15.5% 19.1% 18.6% The revenues increased due to higher volume and prices. Net revenues (R$ millions) Average rented fleet (quantity)

4. Purchased cars Sold cars Purchases (accessories included) Used car sales revenue Tthe car rental division fleet is already adjusted. 241.8 340.0 190.1 207.7 352.1 252.9 -60.2 208.6 -260.8 7,342 10,346 6,467 7,957 9,930 8,703 -2,333 6,624 -9,774 Fleet investment Net Investment (R$ millions) Quantity

5. CAGR: 21.5% 28,699 35,865 46,003 53,476 62,515 59,690 52,223 -12.5% 2.5 p.p. 3.4 p.p. 2009 utilization rate goal: minimum of 72%. End of period fleet and utilization rates Utilization rates – Car rental division End of period fleet (quantity) Car Rental Fleet Rental

6. 3.5% CAGR: 28.8% 14,450 18,710 24,477 30,232 39,728 38,537 39,893 9.5% 37,185 40,732 -3.7% CAGR: 30.8% 634.4 876.9 1,145.4 1,531.7 1,855.7 432.3 416.5 -4.4% 902.8 862.7 5.1% 9.4% Net revenue - Consolidated Average Rented fleet (quantity) Rentals Used car sales Net revenues (R$ millions) Car rental Fleet rental

7. CAGR: 26.4% 277.9 197.5 403.5 504.1 311.3 -11.7% 123.6 109.1 Seminovos EBITDA margin reflects the current market conditions. -8.1% 244.4 224.5 -2.6% 4.0% EBITDA margin EBITDA consolidated (R$ millions) Car Rental Used car sales 48.8% 52.7% 48.9% 51.4% 51.5% 52.6% 51.2% 51.0% 48.6% Rentals - Consolidated 1.1% 67.1% 39.4% 1H09 6.7% 64.3% 45.5% 1H08 5.5% 67.0% 44.3% 2008 4.6% 69.1% 42.0% 2006 5.9% 66.4% 46.2% 2Q08 5.4% 68.7% 44.5% 2007 0.8% 13.2% 12.0% Used car sales 68.8% 62.3% 63.4% Fleet Rental 37.9% 45.3% 40.1% Car Rental 2Q09 2005 2004 Divisions

8. annualized Depreciation rate is adjusted to the current market conditions. Depreciation per car Car rental division (R$) Fleet rental division (R$) annualized

9. - 49.4% Main impacts on results: increase of depreciation and drop of the Seminovos EBITDA. - 46.5% Net Income - Consolidated Net Income (R$ millions) 107.1 (45.7) (52.7) (8.5) (30.4) 244.4 33.0 211.4 1H08 57.3 (21.0) (65.5) (10.7) (70.0) 224.5 4.7 219.8 1H09 (49.8) 24.7 (12.8) (2.2) (39.6) (19.9) (28.3) 8.4 Var. R$ (14.5) 109.1 123.6 EBITDA Consolidated (26.5) 12.7 (2.1) (1.0) (21.6) (11.6) (2.9) Var. R$ 27.1 53.6 Net income (9.7) (22.4) Income tax and social contribution (26.8) (24.7) Financial expenses, net (5.4) (4.4) Other depreciation (40.1) (18.5) Depreciation of revenue-earning vehicles 1.6 13.2 EBITDA - Used car sales 107.5 110.4 EBITDA - Car rental and fleet rental 2Q09 2Q08 Reconciliation of EBITDA x Net Income

10. 369.8% 172.6% Free cash flow before growth (R$ millions) Free cash flow - FCF 98.4 - - - - - - Change in amounts payable to car suppliers (capex) (27.4) 61.5 (196.3) 107.4 (9.2) (12.3) (504.0) 491.7 128.9 (19.1) (38.9) 186.9 434.2 (491.7) 244.4 1H08 504.6 - - 504.6 (4.4) 359.2 (152.3) 413.1 149.8 (18.8) (26.9) 195.5 384.1 (413.1) 224.5 1H09 (283.1) (188.9) (299.9) 205.7 (39.9) (52.2) (1,035.4) 983.2 297.8 (44.8) (52.8) 395.4 874.5 (983.2) 504.1 2008 (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 250.7 118.2 58.2 52.0 Free 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 853.2 590.3 448.2 303.0 Used car sales revenues 260.2 203.9 134.0 108.5 Cash provided before capex 13.3 (4.8) (24.2) 6.2 Working capital variation (63.4) (42.7) (32.7) (40.9) (-) Income tax and social contribution – current 310.3 251.4 190.9 143.2 EBITDA without used car sales revenues and costs 760.0 530.4 361.2 248.7 Cost of used car sales (853.2) (590.3) (448.2) (303.0) Used car sales revenues 403.5 311.3 277.9 197.5 EBITDA 2007 2006 2005 2004 Free cash flow - R$ millions

11. -1,254.5 -817.8 Net debt was reduced in R$436.7 million. Net debt reconciliation Interest Interest on capital Net Debt 12/31/2008 Net Debt 06/30/2009 Free Cash Flow Var. (R$) 2009 2008 1,013.6 185.2 1,198.8 Mar/09 -436.7 260.6 -176.1 Dec/Jun 1,208.3 1,384.4 1,352.0 Gross debt (principal + interest) 390.5 129.9 151.0 (-) Cash 1,254.5 Dec/08 817.8 Jun/09 1,201.0 Net debt Sep/08 R$ millions

12. Net debt Fleet value Indebtedness ratios have improved significantly on 1H09 over 2008. Net debt x Fleet value (R$ millions) (*) annualized 2.0x 1.8x 2.5x 72% 2008 1.2x 1.3x 0.7x 1.4x 1.0x Net debt / Equity (USGAAP) 1.3x(*) 1.3x 1.0x 1.5x 1.1x Net debt / EBITDA (BRGAAP) 1.8x(*) 1.9x 1.4x 1.9x 1.4x Net debt / EBITDA (USGAAP) 57% 51% 36% 60% 46% Net debt /Fleet value (USGAAP) 1H09 2007 2006 2005 2004 End of period balances

13. The current cash is enough to pay the debt with maturity on the 1H2010. 390.5 Cash 1H R$350.0 2H R$170.4 Debt profile Debt profile (Principal – R$ millions)

14. RENT3 Performance 216% 113% RENT3 was included on the Market Vectors Brazil Small-caps Index of Van Eck (USA). Average daily trade volume (R$ millions) Average daily trading (# shares)

17. Differentiated, liquid and flexible asset Even on an unfavorable scenario, Localiza sold 21,753 cars with a drop of only 3.3% on average prices compared to the prices before crisis when we had high demand. Sales expenses went from 5.4% to 8.2% in the same period. Localiza’s business model, through an integrated platform, unique in the car rental industry, allows managing our differentiated asset, that are liquid and flexible, to quickly adapt the Company to macroeconomic conditions. 21,753 15,107 6,646 Sale - 13,708 8,045 Total 26,850 9,774 5,333 1H09 27,880 3,934 2,712 4Q08 Average sale price Net sale Purchase

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