Localiza Rent a Car reported financial results for the first quarter of 2013, with some key highlights: 1) Net revenue from car rentals increased slightly to R$283 million, while net revenue from fleet outsourcing grew 9% to R$142 million. 2) Consolidated net income increased 22% to R$89 million, with spreads remaining stable. 3) The car rental fleet was reduced by only 585 vehicles in the quarter, a much smaller reduction than the 4,562 vehicles sold in the first quarter of 2012, as economic growth was more moderate.

1. Localiza Rent a Car S.A.
1Q13 Earnings
R$ million, IFRS
1
April 17, 2013

2. 1Q13 Highlights
Net Revenues – Car Rental Division Net Revenues – Fleet Outsourcing
267.9 283.2 141.8
129.5
R$ million
R$ million
1Q12 1Q13 1Q12 1Q13
Net Income – Consolidated Spread
15.1% 15.1%
88.8
R$ million
72.7 8.0p.p. 9.8p.p.
7.1% 5.3%
1Q12 1Q13 1Q12 1Q13
Annualized Annualized
ROIC Interest rates paid to third parties after taxes
2

3. Car Rental Division
# Daily Rentals (thousands)
12,794 13,749
10,734
7,940 8,062
5,793
4,668
3,330 3,426
2006 2007 2008 2009 2010 2011 2012 1Q12 1Q13
Net Revenues (R$ million)
980.7 1,093.7
802.2
565.2 585.2
428.0
346.1 267.9 283.2
2006 2007 2008 2009 2010 2011 2012 1Q12 1Q13
Low economic activity growth reflected on more moderate results in 1Q13.
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4. Car Rental locations evolution
# of car rental locations (Brazil and abroad)
524 533
476 496
452 50 55
422 47
381 61
71
327 76 202 200
69 181 202
48 167 +4
134 147
134 272 278
199 214 234 247
145 178
2006 2007 2008 2009 2010 2011 2012 1Q13
Localiza´s branches - Brazil Franchisees´ branches - Brazil Franchisses´ branches - abroad
4 rental locations were added to the Brazilian footprint.
4

5. Fleet Outsourcing Division
# Daily Rentals (thousands)
10,601
9,603
8,044
6,437 7,099
5,144
4,188
2,611 2,742
2006 2007 2008 2009 2010 2011 2012 1Q12 1Q13
Net Revenues (R$ million)
535.7
455.0
361.1
268.4 303.2
184.0 219.8
129.5 141.8
2006 2007 2008 2009 2010 2011 2012 1Q12 1Q13
Revenue growth outpaced volume growth due to a 3.8% increase in the average rental rate.
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6. Net Investment
Fleet Expansion* (quantity)
18,649 9,178 2,011
9,930 8,642
7,957
10,346
65,934 59,950 58,655
47,285 50,772 56,644
44,211 43,161 (585)
33,520 38,050 34,281 34,519 (4.562)
30,093
23,174
13,285 12,349 12,934
8,723
2006 2007 2008 2009 2010 2011 2012 1Q12 1Q13
Cars purchased Cars sold * It does not include theft / crashed cars.
Net Investment (R$ million)
588.5 98.8
308.4
354.5 281.8 1,910.4
210.4 1,776.5
341.5 1,618.8 1,520.0
1,335.3 1,468.1
1,204.2 1,321.9
1,060.9 (123.8) (22.3)
930.3 850.5 980.8 922.4
588.8 373.3 341.5 363.8
249.5
2006 2007 2008 2009 2010 2011 2012 1Q12 1Q13
Purchases (includes accessories) Used car sales net revenues
The reduction of the fleet in 1Q13 was of only 585 cars, compared to 4,562 cars reduced in 1Q12.
6

7. End of Period Fleet
Quantity
96,317 97,190 96,255
88,060 91,444
70,295 31,629 32,104 32,212
62,515 26,615 31,186
46,003 53,476 22,778
23,403
14,630 17,790
61,445 64,688 65,086 60,258 64,043
39,112 47,517
31,373 35,686
2006 2007 2008 2009 2010 2011 2012 1Q12 1Q13
Car Rental Fleet Outsourcing
Fleet grew 5.3% compared to 1Q12
Total Fleet of 111,358 cars, including 15,103 cars from franchisees.
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8. Seminovos Points of Sale Evolution
# Points of sale (Brazil)
+1
The continuous increase in points sales sustains the Company business model, allowing fleet renewal.
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9. Consolidated Net Revenues
R$ million
3,166.7
2,918.1
2,497.2
1,520.0
1,820.9 1,468.1
1,823.7
1,505.5 1,321.9
1,126.2 980.8 922.4
850.5 774.7 793.3
588.8 1,450.0 1,646.7
1,175.3 373.3 363.8
655.0 842.9 898.5
537.4 401.4 429.5
2006 2007 2008 2009 2010 2011 2012 1Q12 1Q13
Rental Seminovos
Car rental and outsourcing fleet net revenues increased 7.0%.
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10. Consolidated EBITDA
R$ million
821.3 875.6
649.5
504.1 469.7
311.3 403.5
210.0 217.2
2006 2007 2008 2009 2010 2011 2012 1Q12 1Q13
EBITDA margin from 2006 to 2011 was adjusted to reflect the accounting of accessories in the cost line:
Divisions 2006 2007 2008 2009 2010 2011 2012 1Q12 1Q13
Car Rental 42.7% 45.0% 43.5% 39.8% 43.5% 43.9%* 40.9% 42.0% 35.6%
Fleet Outsourcing 70.7% 70.3% 67.5% 67.5% 66.7% 66.8%* 66.4% 66.2% 65.9%
Rental Consolidated 52.4% 53.6% 51.2% 49.3% 50.7% 51.2%* 49.3% 49.9% 45.8%
Used Car Sales 4.6% 5.5% 5.6% 1.1% 2.6% 2.8% 4.2% 2.6% 5.6%
*Includes the adjustment of accessories and excludes the reversals of non-recurring provisions of R$10.6 million in 3Q11.
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11. Average depreciation per car
in R$
IPI reduction effect
Financial crisis effect
3,972.4
Robust used-car market
2,546.0 2,577.0
1,536.0 1,683.9 *
1,273.7
939.1
332.9
2006 2007 2008 2009 2010 2011 2012 1Q13 * Annualized
IPI reduction effect
Financial crisis effect
*
Robust used-car market
5,083.1 4,371.7 4,133.0 5,408.2 5,427.3
3,509.7
2,383.3 2,395.8
2006 2007 2008 2009 2010 2011 2012 1Q13 * Annualized
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12. Additional Depreciation due to lower IPI tax rate
R$ million
Additional Depreciation
Division Accounted Estimated
Total
2012 1Q13 Subtotal From 2Q13 on
111.2 3.2 114.4 1.6 116.0
Car Rntal
95.9% 2.8% 98.6% 1.4% 100.0%
33.3 6.8 40.1 24.4 64.5
Fleet Outsourcing
51.6% 10.5% 62.2% 37.8% 100.0%
Consolidated 144.5 10.0 154.5 26.0 180.5
98.6% additional depreciation of the Car Rental Division have already been recorded.
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13. Consolidated Net Income
R$ million
336.3 *
291.6
250.5 240.9
190.2 Record
138.2 127.4 116.3
72.7 88.8
2006 2007 2008 2009 2010 2011 2012 1Q12 1Q13
* Pro forma net income excluding aditional depreciation of R$144.5 million in the year, net of income tax.
Reconciliation EBITDA vs. Net income 2009 2010 2011 2012 1Q12 1Q13 Var. R$ 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%
22.1% net income growth, especially due to
the reduction of net financial expenses and the conservative financial policy of the Company.
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14. Free Cash Flow
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 before investment 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 and before interest 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 and before interest 53.2 (22.2) (283.1) 295.4 (0.8) 176.2 356.1 76.5
(*) Technical discount deduction excluded until 2010 14

15. Changes in Net Debt
R$ million
FCF
76.5
Net debt Net debt
12/31/2012 03/31/2013
-1,231.2 - 1,193.5
(23.0) (15.8)
Interest Interest on own
capital
Net debt was reduced by 3.1%, or R$37.7 million in this quarter.
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16. Debt Profile (principal)
R$ million
625.2
592.0
462.0
182.6 247.7 194.9 146.0 172.0
2013 2014 2015 2016 2017 2018 2019
Cash
897.5
The Company continues delivering a strong cash position and comfortable debt profile.
Cash available at the Company is enough to pay 100% of debt from years 2013, 2014,2015 and 46% of 2016’s.
.
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17. Debt - ratios
Net debt vs. Fleet value
2,446.7 2,681.7 2,547.6 2,503.1
1,907.8
1,752.6
1,492.9 1,363.4
1,247.7 1,254.5 1,281.1 1,231.2 1,193.5
1,078.6
765.1
440.4
2006 2007 2008 2009 2010 2011 2012 1Q13
Net debt 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
(*) As from January 1, 2011, based on the financial statements in IFRS
(**) Annualized
Comfortable debt ratios.
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18. Spread (ROIC minus interest rates paid for third parties after tax)
21.25%
18.70% 17.03% 16.94% 17.12% 16.10% 15.13%
7.8p.p. 12.9p.p.
11.54%
8.2p.p. 9.6p.p. 8.5p.p.
4.0p.p. 9.8p.p. 9.8p.p.
10.90% 8.84% 7.59% 7.33% 6.34% 5.33%
8.40% 8.60%
2006 2007 2008 2009 2010 2011 2012 1Q13
Annualized
ROIC Interest rates paid to third parties after taxes
Stable spread despite the EBITDA margin decrease.
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19. Succession: current structure
BOARD OF DIRECTORS
CEO
Car
acquisition
Legal
Communication
COO
Finance and IR HR IT
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20. Succession: structure from May/2013
BOARD OF DIRECTORS
CEO
Legal
Communication
Supply and
Finance and IR HR IT
logistics
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21. Attributions of the Chairman and CEO
Chairman of the
Board
 To represent the  Value management CEO
institution before society to shareholders
 Governance standards  Institutional crisis  Definition of goals, actions
 Long and mid term management and initiatives based on
strategies and goals  Strategic planning the strategies
 Business model and  To guard Culture  Continuous innovation
portfolio and Values and improvement of the
management model
 Executive role to the press, investors,
market and employees
 Coaching and succession of the executive
officers
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22. 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
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23. Thank you!
www.localiza.com/ir
E-mail: ri@localiza.com
Tel: +55 31 3247-7024
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 projections 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 the underwriters. 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, invitation or solicitation of an offer to subscribe to or purchase any securities. Neither this presentation nor anything
contained herein shall form the basis of any contract or commitment whatsoever.
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