1Q12 Results Webcast

May 15, 2012

R: 228

G: 132

B: 106

R: 245

G: 209

B: 199

R: 238

G: 26

B: 47

R: 213

G: 213

B: 213

R: 90

G: 90

B: 90

R: 159

G: 159

B: 159

R: 192

G: 192

B: 192

R: 231

G: 231

B: 231

Quarter Highlights

April 23rd we became a member of the select group of 126 companies

which currently trades on the Novo Mercado, with our shares being listed

under the ticker “LCAM3”;

On May 2, Fitch Ratings increased Locamerica’s ratings to A- (bra) which

places the company on a new level of Investment Grade;

Operating Margins soar to historical record in 1Q12;

Net profit increased 47.3% in 1Q12 over 1Q11, to R$7.9 million, with net

margin increasing by 2.0 p.p. to 10.5%;

ROIC LTM increased to 12.4% in the quarter, 1.4 percentage points above

1Q11, while ROE LTM was 16.3% in the period, a robust 9.5 p.p. higher

than the 1Q11 figure.

2

R: 228

G: 132

B: 106

R: 245

G: 209

B: 199

R: 238

G: 26

B: 47

R: 213

G: 213

B: 213

R: 90

G: 90

B: 90

R: 159

G: 159

B: 159

R: 192

G: 192

B: 192

R: 231

G: 231

B: 231

147.6196.8

272.5

63.3 75.1

64.5

112.4

118.2

26.4 19.8

2009 2010 2011 1Q11 1Q12

Net Rental Revenue Used Cars Sales Revenue

212.1

309.2

390.7

89.794.9

Consolidated Revenues

3

Consolidated Net Revenues – R$ Million

R: 228

G: 132

B: 106

R: 245

G: 209

B: 199

R: 238

G: 26

B: 47

R: 213

G: 213

B: 213

R: 90

G: 90

B: 90

R: 159

G: 159

B: 159

R: 192

G: 192

B: 192

R: 231

G: 231

B: 231

74.5

108.8

155.6

37.1 45.9

2009 2010 2011 1Q11 1Q12

EBITDA

4

EBITDA – R$ million

R: 228

G: 132

B: 106

R: 245

G: 209

B: 199

R: 238

G: 26

B: 47

R: 213

G: 213

B: 213

R: 90

G: 90

B: 90

R: 159

G: 159

B: 159

R: 192

G: 192

B: 192

R: 231

G: 231

B: 231

(8.5)

11.6

22.6

5.4

7.9

2009 2010 2011 1Q11 1Q12

Consolidated Net Income

5

Net Income– R$ million

R: 228

G: 132

B: 106

R: 245

G: 209

B: 199

R: 238

G: 26

B: 47

R: 213

G: 213

B: 213

R: 90

G: 90

B: 90

R: 159

G: 159

B: 159

R: 192

G: 192

B: 192

R: 231

G: 231

B: 231

15,535

21,913

27,262

22,288

28,631

2009 2010 2011 1Q11 1Q12

Fleet - End of Period

6

Fleet End of Period - Units

R: 228

G: 132

B: 106

R: 245

G: 209

B: 199

R: 238

G: 26

B: 47

R: 213

G: 213

B: 213

R: 90

G: 90

B: 90

R: 159

G: 159

B: 159

R: 192

G: 192

B: 192

R: 231

G: 231

B: 231

96.3%96.9% 96.9%

96.5% 96.6% 96.8%96.4% 96.1%

95.3%

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12

20,685 23,328 23,590

532

1,023 1,445

1,071

2,911 3,596

1Q11 4Q11 1Q12

Operating Deployment Demobilization

28,63127,262

22,288

Operating Performance

7

Final Fleet Breakdown Utilization Rate¹

¹ Average Rented Fleet / Average Operating Fleet

1.445 Operacional Implantação Desativação1.445 Operacional Implantação Desativação1.445 Operacional Implantação Desativação

R: 228

G: 132

B: 106

R: 245

G: 209

B: 199

R: 238

G: 26

B: 47

R: 213

G: 213

B: 213

R: 90

G: 90

B: 90

R: 159

G: 159

B: 159

R: 192

G: 192

B: 192

R: 231

G: 231

B: 231

21.6

27.8 33.6

29.4 26.4 27.9

34.2 29.7

19.8

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12

42.2 46.5

51.6 56.5

63.3 68.0 69.1

72.1 75.1

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12

Consolidated Revenues

Rental Net Revenue– R$ Million

8

Used Car Sales Revenues – R$ Million

R: 228

G: 132

B: 106

R: 245

G: 209

B: 199

R: 238

G: 26

B: 47

R: 213

G: 213

B: 213

R: 90

G: 90

B: 90

R: 159

G: 159

B: 159

R: 192

G: 192

B: 192

R: 231

G: 231

B: 231

1,211

1,330

1,504

1,660

1,790 1,849

1,869

1,958

2,083

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12

1,105

1,123

1,150 1,147

1,197

1,219

1,233 1,242 1,243

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12

Net Rental Revenues

9

Average Monthly Tariff – R$ # daily rentals - thousand

R: 228

G: 132

B: 106

R: 245

G: 209

B: 199

R: 238

G: 26

B: 47

R: 213

G: 213

B: 213

R: 90

G: 90

B: 90

R: 159

G: 159

B: 159

R: 192

G: 192

B: 192

R: 231

G: 231

B: 231

20.9

21.421.6

22.1

22.8

1Q11 2Q11 3Q11 4Q11 1Q12

Preço Médio de Venda

1,262 1,303

1,582

1,342

865

1Q11 2Q11 3Q11 4Q11 1Q12

Used Car Sales Net Revenues

10

Cars Sold¹ Average Selling Price¹

¹ Includes Total Loss sold ¹ Includes Total Loss sold

R: 228

G: 132

B: 106

R: 245

G: 209

B: 199

R: 238

G: 26

B: 47

R: 213

G: 213

B: 213

R: 90

G: 90

B: 90

R: 159

G: 159

B: 159

R: 192

G: 192

B: 192

R: 231

G: 231

B: 231

6.4% 6.5%6.1%

6.5% 6.6%

1Q11 2Q11 3Q11 4Q11 1Q12

R$ 342

R$ 321

R$ 298

R$ 316

R$ 295

2009 2010 2011 1Q11 1Q12

Operating Costs

11

Avg. Monthly Maintenance Cost per Vehicle¹ Depreciation / Avg. Fixed Assets²

² Vehicles and Acessories ¹ Average Operating Fleet

R: 228

G: 132

B: 106

R: 245

G: 209

B: 199

R: 238

G: 26

B: 47

R: 213

G: 213

B: 213

R: 90

G: 90

B: 90

R: 159

G: 159

B: 159

R: 192

G: 192

B: 192

R: 231

G: 231

B: 231

35.5

37.1

40.6

41.642.3

1Q11 2Q11 3Q11 4Q11 1Q12

9.6%

12.1%

10.5%

14.0%

11.9%

1Q11 2Q11 3Q11 4Q11 1Q12

SG&A Expenses

12

SG&A % / Net Revenue¹ Fleet per employee²

² Operating Fleet ¹ Consolidated Net Revenue

R: 228

G: 132

B: 106

R: 245

G: 209

B: 199

R: 238

G: 26

B: 47

R: 213

G: 213

B: 213

R: 90

G: 90

B: 90

R: 159

G: 159

B: 159

R: 192

G: 192

B: 192

R: 231

G: 231

B: 231

27.3 26.5 30.8 29.1

33.3

43.1% 39.0%44.5% 40.4% 44.3%

1Q11 2Q11 3Q11 4Q11 1Q12

37.1 36.9 41.1 40.4

45.9

58.6%54.3%

59.5% 56.1%61.1%

1Q11 2Q11 3Q11 4Q11 1Q12

EBITDA and EBITDA Margin¹

EBITDA and EBIT

13

EBIT and EBIT Margin²

² EBIT Margin on Rental Net Revenue ¹ EBITDA Margin on Rental Net Revenue

R: 228

G: 132

B: 106

R: 245

G: 209

B: 199

R: 238

G: 26

B: 47

R: 213

G: 213

B: 213

R: 90

G: 90

B: 90

R: 159

G: 159

B: 159

R: 192

G: 192

B: 192

R: 231

G: 231

B: 231

6.8%

11.6%

14.4% 15.2%16.3%

11.0% 11.9% 12.6% 12.5% 12.4%

1Q11 2Q11 3Q11 4Q11 1Q12

% ROE LTM % ROIC LTM

5.4 6.2 6.1

4.9

7.9

8.5% 9.2% 8.8%6.8%

10.5%

1Q11 2Q11 3Q11 4Q11 1Q12

Net Income and Returns

14

¹ Net Income / Rental Net Revenue

Net Income and Net Margin¹ ROE² and ROIC³

² ROE LTM = (Net Income / Average Equity last 5 quarters) x 100. Excludes CPC 39 effects. ³ ROIC LTM = (NOPLAT / Average Accounts Receivable – Suppliers + Fixed Assets) x 100.

R: 228

G: 132

B: 106

R: 245

G: 209

B: 199

R: 238

G: 26

B: 47

R: 213

G: 213

B: 213

R: 90

G: 90

B: 90

R: 159

G: 159

B: 159

R: 192

G: 192

B: 192

R: 231

G: 231

B: 231 115.6

291.9

318.3

65.2

113.5 122.4

2009 2010 2011

50.4

195.9

178.4

49.0

68.3

26.4 19.8

1Q11 1Q12

22.6

48.6

4,467

11,040 11,052

2,828

5,473 5,489

2009 2010 2011

1,639

5,5635,567

1,692

2,318

1,262

865

1Q11 1Q12

430

1,453

Fleet Increase

Investment

15

Net Fleet CAPEX – R$ Million

Purchased Cars

Sold Cars

Purchases

Used Cars Sales Revenues

4.467

11.040 11.052

2.828

5.473 5.489

2009 2010 2011

Compra Receita de Venda

1.639

5.5635.567

4.467

11.040 11.052

2.828

5.473 5.489

2009 2010 2011

Compra Receita de Venda

1.639

5.5635.567

4.467

11.040 11.052

2.828

5.473 5.489

2009 2010 2011

Compra Receita de Venda

1.639

5.5635.567

4.467

11.040 11.052

2.828

5.473 5.489

2009 2010 2011

Compra Receita de Venda

1.639

5.5635.567

R: 228

G: 132

B: 106

R: 245

G: 209

B: 199

R: 238

G: 26

B: 47

R: 213

G: 213

B: 213

R: 90

G: 90

B: 90

R: 159

G: 159

B: 159

R: 192

G: 192

B: 192

R: 231

G: 231

B: 231

Cash

187.2

159.6

250.2

173.0 165.0

156.0

2012 2012 2013 2014 Up to 2016

343.2

Debt Amortization Schedule

Debt Profile - 03/31/2012

16

* Proforma after IPO

R: 228

G: 132

B: 106

R: 245

G: 209

B: 199

R: 238

G: 26

B: 47

R: 213

G: 213

B: 213

R: 90

G: 90

B: 90

R: 159

G: 159

B: 159

R: 192

G: 192

B: 192

R: 231

G: 231

B: 231

243.9

393.4

523.9560.6

404.6381.2

562.7

711.1750.5 750.5

2009 2010 2011 1Q12 1Q12 Proforma

Net Debt Fleet Value

Financial Ratios

17

Net Debt x Fleet Value

¹ Annualized

Balance at end of period 2009 2010 2011 1Q12¹1Q12¹

ProformaNet Debt / Fleet Value 64.0% 69.9% 73.7% 74.7% 53.9%

Net Debt / EBITDA 3.27 3.61 3.37 3.06 2.20

Net Debt / Equity 15.49 2.96 3.92 4.13 2.98EBITDA / Net financial expenses 1.35 2.42 1.87 2.02 2.02

¹

¹

Thank you!

www.locamerica.com.br/ri

Contact: ri@locamerica.com.br

+55 31 3316.1981

Legal Notice - This release contains forward-looking statements relating to the prospects of the business, estimates for operating and financial results, and those related to growth prospects of Lojas Renner S.A. and are merely projections and, as such, are based exclusively on the expectations of the Company’s management concerning the future of the business. Such forward-looking statements depend substantially on changes in market conditions, the performance of the Brazilian economy, the sector and the international markets, and are therefore subject to change without prior notice.