Earnings release
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Earning Release 2Q26 [ B ] BRASIL BOLSA BALCÃO Localiza & co LA & * 5 * NOVO MERCADO BM & FBOVESPA Indice IBRX 50 Indice Carbono CO2 Ações com Tog Along Diferenciado Indice de ITAG OTCQX IGPTW B3 Localiza & co
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arros To our investors, 2Q26 Highlights: ✓ Car Rental and Fleet Rental net revenues totaled R$5.2 billion, up 8.8% compared to 2Q25, with Car Rental net revenue growing at a double-digit rate year-over-year ✓ Net revenue from Seminovos reached R$7.2 billion, up 38.9% YoY ✓ Consolidated net revenue totaled R$12.3 billion, an increase of 24.5% YoY ✓ EBITDA totaled R$3.8 billion (+14.1% YoY) and EBIT totaled R$2.3 billion (+15.1% YoY) ✓ Net income reached R$1.0 billion in the quarter, representing a strong increase of 30.6% compared to adjusted net income in 2Q25 ✓ ROIC spread reached 6.1 p.p. in the first half of the year, reinforcing the return recovery trajectory In 2Q26, we maintained the strong performance achieved at the beginning of the year, with accelerating revenue growth across all business lines on a year-over-year basis. This result reflects commercial excellence, consistency in execution, discipline in capital allocation, and continued progress in the restoration of returns, reinforcing value creation. In Car Rental (RAC), we delivered double-digit net revenue growth, reaching R$2,736 million, an increase of 11.2% compared to 2Q25 . This performance reflected a combination of 6.8% growth in volumes and a 3.7% increase in price. EBITDA totaled R$1,850 million, up 13.0% year-over-year, with a margin of 67.6%, an increase of 1.1 p.p. compared to the same period last year. The progress in the Car Rental fleet rejuvenation process contributed to a 24.1% reduction in the average age of the operational fleet, which closed the period at 8.2 months, compared to 10.8 months in 2Q25. In Fleet Rental , net revenue reached R$2,379 million, up 5.8% year -over-year, with stable volume and continued price growth. EBITDA totaled R$1,799 million , an increase of 12.8% compared to 2Q25, with a margin of 75.6%, expanding by 4.6 p.p. year-over-year. In the quarter, we resumed volume growth on a year- over-year basis, even while continuing to reduce exposure to severe-use contracts. In Seminovos, we sold 92 thousand vehicles during the quarter, compared to 68 thousand vehicles sold in 2Q25, driving a 38.9% increase in net revenue. As we maintained the pace required to optimize the Car Rental´s fleet lifecycle, we directed investments toward expanding retail capacity through the growth of sales teams and the strengthening of marketing initiatives. In addition, during the quarter , we completed the rebranding of our Seminovos stores. Although these investments impacted the quarter's 1.9% margin (vs. 1.6% in 2Q25), they are expected to support an increase in the retail share of the sales mix throughout 2H26. Throughout 2Q26, we observed new and used vehicle prices performing in line with our expectations. Nevertheless, as highlighted in our 1Q26 earnings release, we continued to adjust fleet depreciation rates to reflect the dynamics of the automotive industry, characterized by the entry of new competitors and the launch of increasingly technological and competitive vehicle models. In anticipation of this trend, the Company has been adjusting rental prices and fleet depreciation rates to reflect residual value estimates aligned with the automotive industry outlook. Net income of R$1.0 billion in the quarter, combined with a ROIC spread within the Company's target range, even amid a higher depreciation environment, reinforces the effectiveness of the adopted strategy and the continued progress in restoring returns.
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arros For the second half of 2026, we will pursue net revenue growth both in Car Rental and Fleet Rental, while sustaining the pace of Seminovos sales through an expansion of the retail sales mix. In addition, we will remain relentless in our pursuit of operational efficiency across all business lines and in expanding the use of technology to enhance our customers’ experience. Throughout the 1H26, we were recognized as one of the 10 most valuable brands in Brazil by BrandZ, as well as the best company to work for in Minas Gerais by Great Place to Work and one of the top 10 companies to work for in Brazil. We also advanced the adoption of Artificial Intelligence, a strategic priority for the Company, generating meaningful gains in productivity, resolution rates, and NPS. Encouraged by the progress achieved and the results delivered in 1H26, we remain attentive to the macroeconomic environment and the dynamics of the automotive industry. We will continue to pursue a disciplined capital allocation strategy, focused on sustainable growth and long-term value creation. We would like to thank our customers, shareholders, partners, and employees for their continued trust and confidence.
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arros QUARTERLY HIGHLIGHTS * Adjusted for the write - off of Locamerica's tax loss, amounting to R$937 million. R$ mil lion EBITDA R$ million (including Mexico) Consolidated Net Revenue R$ million Net Income R$ million EBIT R$ million Net debt vs. Fleet value % ROIC versus cost of debt after ‑ tax es
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Data related to the Brazilian operation arros 5 1 – Car Rental Net Revenue R$ million, including royalties Rental Days In thousands In 2Q26, net revenue from the Car Rental division totaled R$2,736 million, an increase of 11.2% compared to 2Q25. This performance was driven by accelerating rental days growth and continued improvement in average daily rates , that follows the recovery process. Utilization Rate % Rental Rate R$ During the quarter, the average daily rate reached R$154.4, representing a 3.7% year -over-year increase, accompanied by volume growth and an expansion in the utilization rate to 81.9%, reinforcing the Company’s commercial excellence and productivity management.
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Data related to the Brazilian operation 6 2 – Fleet Rental Net Revenue R$ million, including telematics and other initiatives Rental Days In thousands In 2Q26, the Fleet Rental division reported net revenue of R$2,379 million, an increase of 5.8% compared to 2Q25. Following a slight decline in volumes throughout 2025, driven by lower exposure to severe-use contracts, the Fleet Rental division returned to year -over-year growth in rental days, supported by the expansion of its target segments, including light fleet rental and car subscription solutions. In addition, we continued the rental rate repricing process to reflect the prolonged higher interest rate environment. Utili zation Rate % Rental Rate R $ During the quarter, the average daily rate reached R$108.6, up 5.7% compared to 2Q25, while the utilization rate reached 96.7%, reflecting higher operational efficiency and productivity.
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Data related to the Brazilian operation 7 3 – Seminovos N et Revenue R$ mil lion Car s Sold Quant ity In 2Q26, Seminovos sales in Brazil totaled 92,043 vehicles, sustaining a sales pace above 90 thousand vehicles per quarter, which will allow the reduction of the Car Rental division’s cycle to approximately 15 months over the coming quarters. Average selling price also increased, reflecting a higher share of SUVs in the sales mix, contributing to net sales revenue in Brazil of R$7,144 million, representing a 39.0% increase compared to the same period of the previous year. The strong performance of Seminovos reflects the maturation of initiatives focused on commercial excellence, network expansion and productivity gains. Throughout 2H26, the Company will focus on increasing the share of retail sales within its sales mix.
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Data related to the Brazilian operation 8 4 – Number of locations and stores Number of branches Brazil Quanti ty The chart above illustrates the evolution of the Car Rental network in Brazil, which ended the quarter with 593 branches, including 525 company-owned locations and 68 franchise units. Following a period of network optimization focused on operational efficiency, productivity and cost rationalization, we resumed exp anding our footprint across the country, opening eight new company-owned branches since the beginning of the year. In addition to its owned and franchised network in Brazil, the Company maintains an international presence through franchise operations in Argentina, Colombia, Ecuador, and Uruguay. Furthermore, it operates its own business in Mexico, reinforcing its presence across Latin America. Number of Owned Light Vehicle Stores – Seminovos Quanti ty In Seminovos, we ended the quarter with 269 light-vehicle sales stores across 139 cities, an increase of 25 units compared to 2Q25. In 2026, we opened six new Seminovos stores, strengthening our retail sales capabilities and creating the conditions for a gradual increase in the share of this channel within the overall sales mix. In addition, we operate four Seminovos stores dedicated to truck sales.
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Data related to the Brazilian operation 9 5 – F leet Car purchase and sales Quanti ty * Net fleet investment R$ mil lion In 2Q26, we sold 92,043 vehicles, of which 62,668 were sourced from Car Rental and 29,375 from Fleet Rental. The strong growth in sales volumes compared to 2Q25 supports the Car Rental fleet rejuvenation process, reflected in the reduction of the average age of vehicles sold to 19.4 months, compared to 22.2 months in 2Q25. The average age of the operating fleet also showed significant improvement, ending the period at 8.2 months, compa red to 10.8 months in 2Q25, a year - over-year reduction of 24.1%, contributing to efficiency gains , as well as lower maintenance and preparation costs per vehicle. In the same period, we acquired 120,626 vehicles, of which 87,942 were allocated to Car Rental and 32,684 to Fleet Rental, preparing the Company for the peak July holiday season and the rental demand. Net investment in fleet renewal and growth totaled R$4,454 million during the quarter. 5 .1 – Net fleet investment *Does not consider theft / crashed cars written of.
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Data related to the Brazilian operation 10 5 – F leet Car Rental R$ t housand In the Car Rental division, the LTM (Last Twelve Months) average purchase price was R$86.1 thousand, while the LTM average selling price reached R$74.0 thousand in 2Q26, mainly reflecting fleet rejuvenation and the lower average age of vehicles sold. As a result, fleet renewal capex totaled R$12.1 thousand per car on an LTM basis in 2Q26. Fleet Rental R$ thousand In Fleet Rental, the LTM average purchase price reached R$99.7 thousand, while the LTM average selling price was R$79.8 thousand, resulting in a replacement investment of R$19.9 thousand per vehicle. End of period fleet - Brazil Quantity The Company ended the quarter with a fleet of 670,446 vehicles, representing a growth of 6.3% compared to 2Q25. * Does not include accessories * Does not include accessories 5. 2 – Average price of purchase and sale per car 5. 3 – End of period fleet
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11 6 – Consolidated net revenue Consolidated net revenue R$ mil lion – including Mexico In 2Q26, the Company reported consolidated revenue of R$12,327 million, an increase of 24.5% compared to the same period of the previous year. Rental revenue grew 8.8%, totaling R$5,150 million, while consolidated Seminovos revenue reached R$7,177 million, up 38.9% year-over-year.
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12 7 - EBITDA Consolidated EBITDA R$ mil lion In 2Q26, EBITDA totaled R$3,755 million, up 14.1% year-over-year, reflecting the combination of higher rental rates and volumes, together with continued discipline in efficient cost management and productivity initiatives. During the quarter, we delivered margin expansion, as detailed below: In the Car Rental division, EBITDA margin reached 67.6%, an increase of 1.1 p.p. compared to 2Q25. Rental revenues grew by R$274.8 million, while costs and expenses declined by R$62.4 million, reflecting the combined effects of higher daily rates and volumes, lower maintenance and vehicle preparation costs per car (partially offset by the higher volume of vehicles prepared for sale), as well as a higher level of tax credits. In Fleet Rental, EBITDA margin reached 75.6% in the quarter, representing a 4.6 p.p. increase compared to 2Q25. On a year-over-year basis, net revenue increased by R$131.3 million, while costs and expenses declined by R$72.2 million. The quarter’s margin benefited from h igher daily rates, greater efficiency in vehicle preparation costs and lower Allowance for Doubtful Accounts (ADA), driven by the improvement in the quality of the customer portfolio and the comparison base of 2Q25, as well as higher fleet utilization and a greater level of tax credits. **Excluding the effect associated with the divestment process of subsidiaries amounting to R$282.4 million before taxes. FLEET RENTAL RESULTS 1H25 1H26 Variation R$ millions Var. % 2Q25 2Q26 Variation R$ millions Var. % Fleet rental net revenues 4,486.7 4,702.5 215.8 4.8% 2,248.1 2,379.4 131.3 5.8% Fleet rental costs and expenses (1,324.0) (858.0) 466.0 -35.2% (652.3) (580.1) (72.2) -11.1% EBITDA 3,162.7 3,844.5 681.8 21.6% 1,595.8 1,799.3 203.5 12.8% EBITDA Margin 70.5% 81.8% 11.3 p.p. 11.3 p.p. 71.0% 75.6% 4.6 p.p. 4.6 p.p. CAR RENTAL RESULTS AND FRANCHISING 1H25 1H26 Variation R$ millions Var. % 2Q25 2Q26 Variation R$ millions Var. % Car rental net revenues 5,031.6 5,525.1 493.5 9.8% 2,461.4 2,736.2 274.8 11.2% Car rental and franchising costs and expenses (1,716.7) (1,795.7) (79.0) 4.6% (823.5) (885.9) (62.4) 7.6% EBITDA 3,314.9 3,729.4 414.5 12.5% 1,637.9 1,850.3 212.4 13.0% EBITDA Margin 65.9% 67.5% 1.6 p.p. 1.6 p.p. 66.5% 67.6% 1.1 p.p. 1.1 p.p.
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13 7 - EBITDA Seminovos posted a 1.9% EBITDA margin in Brazil, slightly above the level reported in the same period of the previous year, reflecting stable gross margins and greater dilution of SG&A relative to revenue. On a year -over-year basis, net revenue increased by R$2,003 million, while costs and expenses rose by R$1,950.1 million Compared to 1Q26, the 1.2 p.p. decline in the Seminovos margin was mainly driven by a higher SUV mix in 2Q26 sales, which carries a lower gross margin, combined with increased expenses related to store openings and rebranding, personnel and marketing initiatives aimed at expanding the retail share of the sales mix. USED CAR SALES RESULTS (SEMINOVOS) BRAZIL 1H25 1H26 Variation R$ million Var. % 2Q25 2Q26 Variation R$ million Var. % Net revenues 10,425.3 14,249.9 3,824.6 36.7% 5,141.3 7,144.3 2,003.0 39.0% Book value of cars sold (9,687.5) (13,170.7) (3,483.2) 36.0% (4,770.3) (6,627.0) (1,856.7) 38.9% Gross profit 737.8 1,079.2 341.4 46.3% 371.0 517.3 146.3 39.4% Gross margin 7.1% 7.6% 0.5 p.p. 0.5 p.p. 7.2% 7.2% 0.0 p.p. 0.0 p.p. Operating expenses (SG&A) (547.2) (724.4) (177.2) 32.4% (286.2) (379.6) (93.4) 32.6% SG&A as a percentage of net revenue -5.2% -5.1% 0.2 p.p. 0.2 p.p. -5.6% -5.3% 0.3 p.p. 0.3 p.p. EBITDA 190.6 354.8 164.2 86.1% 84.8 137.7 52.9 62.4% EBITDA margin 1.8% 2.5% 0.7 p.p. 0.7 p.p. 1.6% 1.9% 0.3 p.p. 0.3 p.p.
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14 8 - Depreciation Depreciation is calculated using the straight-line method, based on the difference between the vehicle purchase price and the estimated selling price at the end of its useful life, net of estimated selling costs and expenses. These estimates are periodically reviewed to keep the carrying amount of vehicles (book value) aligned with prevailing market prices. Throughout the quarter, new and used vehicle prices evolved in line with the Company's expectations. We will continue to closely monitor the dynamics of the Brazilian automotive market, including the entry of new automakers and new model launches, adjusting depreciation, pricing, and capital allocation whenever necessary. Average annualized depreciation per car – Car Rental R$ In Car Rental, annualized depreciation per vehicle reached R$8,243 in 2Q26, maintaining the sequential increase observed over the past quarters. Considering the current dynamics of the Brazilian automotive industry and their impact on vehicle residual value expectations, we expect this trend to continue. Average annualized depreciation per car – Fleet Rental R$ In Fleet Rental, annualized depreciation per vehicle reached R$9,198 in 2Q26. The more pronounced sequential increase in Car Rental depreciation reflects its shorter fleet aging cycle relative to Fleet Rental (~15 months versus ~33 months). As the difference between acquisition cost and estimated net selling price is recognized over the depreciable life of the asset, any downward revision in residual values is spread over a shorter period in Car Rental, resulting in a greater impact on depreciation expense.
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15 Consolidated EBIT R$ million In 2Q26, EBIT reached R$2,325 million, representing a strong increase of 15.1% compared to 2Q25, supported by margin expansion in Car Rental and Fleet Rental. The EBIT Margin shown below includes the results from the Seminovos and is calculated over rental revenues: In Car Rental, EBIT margin reached 44.5%, expanding by 2.5 p.p., while Fleet Rental reported an EBIT margin of 49.2% in the quarter, up 3.4 p.p. year-over-year. As a result, we ended the quarter with an EBIT margin of 45.1%. 9 - EBIT **Excluding the effect associated with the divestment process of subsidiaries amounting to R$282.4 million before taxes.
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16 Consolidated net income R$ mil lion In 2Q26, net income totaled R$1,003 million, representing an increase of 30.6% compared to adjusted net income in 2Q25. In 2Q25, we recognized a write-off of deferred tax assets related to Locamerica's tax loss carryforwards, amounting to R$937 million. For comparison purposes, the impact of this write-off has been excluded. 10 – Consolidated net income * Adjusted for the effects of the Green IPI (Excise Tax on Industrialized Products) and for the write ‑ off of Locamerica’s tax loss carryforwards.
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17 The R$235 million increase in quarterly net income compared to adjusted 2Q25 net income is mainly explained by: (+) R$463 million increase in EBITDA; (-) R$158 million increase in depreciation and goodwill amortization expenses; (+) R$18 million reduction in net financial expenses, mainly driven by a lower average debt balance; and (-) R$87 million increase in income tax and social contribution expenses, reflecting a higher effective tax rate in the period (from 14.1% in adjusted 2Q25 to 17.5% in 2Q26). In 1H26, cash generated from rental activities totaled R$5,211 million and was offset by net fleet capex of negative R$5,248 million (including Mexico), reflecting the strong fleet expansion, as well as investments in other fixed assets of R$161 million. T hese effects were partially offset by a R$2,030 million increase in accounts payable to vehicle suppliers. As a result, free cash flow before interest and other items totaled R$1,832 million. 1 1 – Free Cash Flow (FCF)
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18 C hange in net debt R$ mil lion As of June 30, 2026, the Company's net debt totaled R$32,352 million, representing an increase of 4.2% compared to year-end 2025, when net debt stood at R$31,052 million. Debt maturity profile – principal – as of 0 6 / 3 0 / 202 6 R$ mil lion The Company ended the quarter with R$ 11,390 million in cash, sufficient to cover short ‑term debt and the accounts payable to automakers. Proforma after settlements and issuances through july /2026 R$ million In July, we completed the largest Exchange Offer transaction ever executed in the Brazilian market, refinancing approximately R$7 billion in debt. The transaction also represented the largest debt issuance by aggregate volume in the Company's history and r einforces the consistent liability management strategy adopted over the past several years. In addition to proactively addressing future debt maturities, the transaction contributed to extending the average debt maturity profile and reducing the average cost of debt, further strengthening Localiza's financial profile. 12 – Net debt
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19 Company name Debt Issuance Contract rate 2026 2027 2028 2029 2030 2031 2032 to 2034 Total Localiza Rent a Car S.A. Debentures 17th Issuance 04/07/2021 IPCA + 5.4702% - - - - 600 600 - 1,200 Localiza Rent a Car S.A. Debentures 22nd Issuance 10/05/2022 CDI + 1.87% - - 2,450 - - - - 2,450 Localiza Rent a Car S.A. Debentures 25th Issuance 08/11/2023 CDI + 2.35% - - - - - 500 1,000 1,500 Localiza Rent a Car S.A. Real State Receivables Certificate (CRI) Localiza 06/01/2022 CDI + 0.95% - 300 - - - - - 300 Localiza Rent a Car S.A. 2nd Real State Receivables Certificate (CRI) Localiza - 1st serie 03/10/2023 CDI + 1.25% - - 210 - - - - 210 Localiza Rent a Car S.A. 2nd Real State Receivables Certificate (CRI) Localiza - 2nd serie 03/10/2023 CDI + 1.40% - - - - 490 - - 490 Localiza Rent a Car S.A. Debentures 27th Issuance - 2nd serie 05/20/2021 CDI + 2.40% - - - 133 133 133 - 399 Localiza Rent a Car S.A. Debentures 31st Issuance - 3rd serie 04/10/2019 112.0% do CDI - - 50 50 - - - 100 Localiza Rent a Car S.A. Debentures 34th Issuance 11/25/2023 CDI + 185% - - 1,900 - - - - 1,900 Localiza Rent a Car S.A. Debentures 36th Issuance - 2nd serie 04/15/2022 IPCA + 7.2101% - - - 515 - - - 515 Localiza Rent a Car S.A. Debentures 37th Issuance 09/23/2021 IPCA + 6.5119% - - - 367 367 367 - 1,101 Localiza Rent a Car S.A. Debentures 38th Issuance 02/27/2024 CDI +1.85% - - - 2,100 - - - 2,100 Localiza Rent a Car S.A. Debentures 39th Issuance - 1st serie 04/16/2024 CDI +1.70% - 525 525 525 525 - - 2,100 Localiza Rent a Car S.A. Debentures 39th Issuance - 2nd serie 04/16/2024 CDI +1.85% - - - - 900 - - 900 Localiza Rent a Car S.A. Debentures 39th Issuance - 3rd serie 04/16/2024 CDI +2.15% - - - - - - 250 250 Localiza Rent a Car S.A. Debentures 40th Issuance 12/10/2024 CDI + 1.55% - - - 500 500 - - 1,000 Localiza Rent a Car S.A. Debentures 41st Issuance 12/20/2024 IPCA + 8.8670% - - - - - 700 - 700 Localiza Rent a Car S.A. Debentures 42nd Issuance - 1st serie 05/20/2025 CDI+1.20% - - - - 1,144 - - 1,144 Localiza Rent a Car S.A. Debentures 42nd Issuance - 2nd serie 05/20/2025 CDI+1.40% - - - - - - 371 371 Localiza Rent a Car S.A. Debentures 43rd Issuance 07/17/2025 CDI+1.20% - - - 267 267 267 - 801 Localiza Rent a Car S.A. Debentures 44th Issuance 08/01/2025 CDI+1.30% - - - - 600 600 600 1,800 Localiza Rent a Car S.A. Debentures 45th Issuance - 1st serie 08/27/2025 CDI+1.18% - - - - 250 250 - 500 Localiza Rent a Car S.A. Debentures 45th Issuance - 2nd serie 08/27/2025 CDI+1.28% - - - - - 50 50 100 Localiza Rent a Car S.A. Debentures 46th Issuance 05/18/2026 CDI+1.25% - - - - - - 1,250 1,250 Localiza Rent a Car S.A. Debentures 47th Issuance 06/23/2026 CDI+1.25% - - - - - - 1,800 1,800 Localiza Fleet S.A. Debentures 9th Issuance 10/08/2021 CDI + 1.30% - - - - 500 - - 500 Localiza Fleet S.A. Debentures 13th Issuance 12/20/2023 CDI + 1.85% - - 700 - - - - 700 Localiza Fleet S.A. Debentures 14th Issuance 01/26/2024 CDI + 1.85% - - - 1,200 - - - 1,200 Localiza Fleet S.A. Debentures 15th Issuance - 1st serie 11/04/2024 CDI + 1.50% - - 250 250 250 - - 750 Localiza Fleet S.A. Debentures 15th Issuance - 2nd serie 11/04/2024 CDI + 1.50% - - 333 333 333 - - 999 Localiza Fleet S.A. Debentures 16th Issuance 11/12/2024 CDI + 1.45% - - - 333 333 333 - 999 Localiza Fleet S.A. Debentures 17th Issuance 02/10/2025 CDI + 1.40% - - - 167 167 167 - 500 Localiza Fleet S.A. Debentures 18th Issuance 06/20/2025 CDI + 1.20% - - - - 1,000 - - 1,000 Localiza Fleet S.A. Debentures 19th Issuance 09/09/2025 CDI + 1.24% - - - - 300 600 600 1,500 Localiza Fleet S.A. Debentures 20th Issuance - 1st serie 09/18/2025 CDI + 0.91% - - - 300 300 - - 600 Localiza Fleet S.A. Debentures 20th Issuance - 2nd serie 09/18/2025 CDI + 1.15% - - - - - 200 200 400 Rental Brasil CRI 02/26/2018 99% CDI 19 23 28 33 40 47 21 211 Localiza Rent a Car S.A. Agro business Receivables Certificate - CRA 104 07/23/2021 IPCA + 4.825% - - - 37 37 37 - 111 Localiza Rent a Car S.A. Agro business Receivables Certificate - CRA 157 Locamerica -1st serie 07/23/2021 IPCA + 6.6018% - - 113 - - - - 113 Localiza Rent a Car S.A. Agro business Receivables Certificate - CRA 157 Locamerica -2nd serie 09/23/2021 CDI + 1.00% - - 246 - - - - 246 - Foreign currency loans - Several - 1,521 2,321 1,073 - 648 - 5,563 - Working Capital / others - Several 1,250 725 155 451 153 153 - 2,887 - Interest incurred net of interest paid - 481 - - - - - - 481 - Cash and cash equivalents on 06/30/2026 - - (11,390) - - - - - - (11,390) Net debt (9,640) 3,094 9,281 8,634 9,189 5,652 6,142 32,352 Net debt composition R$ million As of June 30, 2026, the Company's consolidated net debt totaled R$32,35 2 million. Of this amount, R$8,870 million was exposed to CDI rate fluctuations, while R$23,48 2 million was hedged through swap agreements that convert the CDI - indexed portion into fixed-rate debt. As a result, as of June 30, 2026, the Company had a weighted average fixed rate of 12.30% per annum on this portion of its debt, plus the respective funding spre ads. This strategy helps mitigate interest rate volatility and preserve the profitability of the Fleet Rental contracts. 12 – Net debt
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20 We ended the quarter with leverage ratios at comfortable levels, as evidenced primarily by the net debt -to-fleet value ratio. Evolution of ROIC spread and capital base % e R$ bil lion ROIC calculated: NOPAT = EBIT X (1 - effective income tax rate); Invested Capital = Net Debt + Equity – Goodwill Invested capital of Localiza stand - alone until June 30th, 2022 In 2025 ROIC, the effects from the write - off of tax loss carryforward credits from Locamerica and the impacts of the IPI reduction were excluded In 1H26, we reported an annualized ROIC spread of 6.1 p.p., exceeding the Company's after-tax cost of debt. Excluding the effects of the subsidiary divestment process, ROIC would have reached 15.6% and ROIC spread would have been 5.6 p.p., in line with the Company's expectations and evidencing the solid trajectory of spread recovery, even in a high interest rate environment. 1 3 – ROIC spread (ROIC minus cost of debt after taxes) 12 – Net debt
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21 In the quarter, the Board of Directors approved the payment of R$ 591.1 million in interest on equity ( IOC), based on the shareholding position as of June 26, 2026. Interest on capital approved in 2026: Interest on capital approved in 2025: Nature Reference period Approval date Shareholding position date Payment date Gross amount (R$ million) Gross amount per share (in R$) IOC 2026 03/24/2026 03/27/2026 05/22/2026 571.8 0.522118 IOC 2026 06/23/2026 06/26/2026 08/20/2026 591.1 0.535127 Total 1,162.9 Nature Reference period Approval date Shareholding position date Payment date Gross amount (R$ million) Gross amount per share (in R$) IOC 2025 03/21/2025 03/26/2025 05/16/2025 480.9 0.456384 IOC 2025 06/24/2025 06/27/2025 08/19/2025 533.8 0.506193 IOC 2025 09/22/2025 09/25/2025 11/18/2025 543.4 0.515365 IOC 2025 12/12/2025 12/17/2025 02/06/2025 543.6 0.515478 Total 2,101.7 14 – Dividends and interest on capital (IOC)
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22 1 5 – Car Rental – R$ million CAR RENTAL RESULTS AND FRANCHISING 2021 2022 2023 2024 2025 Var. 2025 adjusted without IPI effect 1H25 1H26 Var. 2Q25 2Q26 Var. Car rental and franchising gross revenues, net of discounts and cancellations 4,851.3 7,211.5 9,118.6 10,652.1 11,495.3 7.9% 11,495.3 5,551.0 6,087.0 9.7% 2,718.5 3,016.1 10.9% Taxes on revenues (455.9) (701.3) (863.1) (1,005.6) (1,071.0) 6.5% (1,071.0) (519.4) (561.9) 8.2% (257.1) (279.9) 8.9% Car rental net revenues 4,395.4 6,510.2 8,255.5 9,646.5 10,424.3 8.1% 10,424.3 5,031.6 5,525.1 9.8% 2,461.4 2,736.2 11.2% Car rental and franchising costs (1,406.9) (1,840.4) (2,035.9) (2,714.5) (2,328.4) -14.2% (2,316.4) (1,184.9) (1,123.9) -5.1% (558.6) (519.1) -7.1% Gross profit 2,988.5 4,669.8 6,219.6 6,932.0 8,095.9 16.8% 8,107.9 3,846.7 4,401.2 14.4% 1,902.8 2,217.1 16.5% Operating expenses (SG&A) (832.6) (950.7) (902.1) (954.9) (1,116.5) 16.9% (1,116.5) (531.8) (671.8) 26.3% (264.9) (366.8) 38.5% Other assets depreciation and amortization (142.6) (181.6) (276.4) (302.3) (335.2) 10.9% (335.2) (164.4) (176.9) 7.6% (82.4) (89.1) 8.1% Operating profit before financial results and taxes (EBIT) 2,013.3 3,537.5 5,041.1 5,674.8 6,644.2 17.1% 6,656.2 3,150.5 3,552.5 12.8% 1,555.5 1,761.2 13.2% EBITDA 2,155.9 3,719.1 5,317.5 5,977.1 6,979.4 16.8% 6,991.4 3,314.9 3,729.4 12.5% 1,637.9 1,850.3 13.0% EBITDA Margin 49.0% 57.1% 64.4% 62.0% 67.0% 5.0 p.p. 67.1% 65.9% 67.5% 1.6 p.p. 66.5% 67.6% 1.1 p.p. USED CAR SALES RESULTS (SEMINOVOS) 2021 2022 2023 2024 2025 Var. 2025 adjusted without IPI effect 1H25 1H26 Var. 2Q25 2Q26 Var. Gross revenues, net of discounts and cancellations 4,413.3 5,994.8 9,525.9 12,306.0 13,903.8 13.0% 13,903.8 6,604.4 9,658.3 46.2% 3,172.0 4,814.9 51.8% Taxes on revenues (5.2) (6.5) (10.9) (24.1) (24.7) 2.5% (24.7) (12.1) (18.3) 51.2% (6.1) (9.2) 50.8% Net revenues 4,408.1 5,988.3 9,515.0 12,281.9 13,879.1 13.0% 13,879.1 6,592.3 9,640.0 46.2% 3,165.9 4,805.7 51.8% Book value of cars sold (**) (3,416.2) (5,027.1) (8,914.6) (11,396.2) (13,015.1) 14.2% (12,934.6) (6,143.3) (8,915.3) 45.1% (2,949.9) (4,460.4) 51.2% Gross profit 991.9 961.2 600.4 885.7 864.0 -2.5% 944.5 449.0 724.7 61.4% 216.0 345.3 59.9% Operating expenses (SG&A) (360.7) (445.5) (516.2) (706.6) (745.2) 5.5% (745.2) (365.1) (503.5) 37.9% (183.9) (261.3) 42.1% Cars depreciation (183.7) (890.5) (2,242.2) (2,969.3) (2,724.6) -8.2% (2,191.5) (1,073.6) (1,194.6) 11.3% (535.6) (607.4) 13.4% Other assets depreciation and amortization (56.1) (61.4) (77.7) (71.1) (78.3) 10.1% (78.3) (37.9) (44.5) 17.4% (18.6) (21.6) 16.1% Write up amortization - (64.1) (5.4) 14.4 0.5 -96.5% 0.5 0.5 - -100.0% - - - Operating profit (loss) before financial results and taxes (EBIT) 391.4 (500.3) (2,241.1) (2,846.9) (2,683.6) -5.7% (2,070.0) (1,027.1) (1,017.9) -0.9% (522.1) (545.0) 4.4% EBITDA 631.2 515.7 84.2 179.1 118.8 -33.7% 199.3 83.9 221.2 163.6% 32.1 84.0 161.7% EBITDA Margin 14.3% 8.6% 0.9% 1.5% 0.9% -0.6 p.p. 1.4% 1.3% 2.3% 1.0 p.p. 1.0% 1.7% 0.7 p.p. CAR RENTAL TOTAL FIGURES 2021 2022 2023 2024 2025 Var. 2025 adjusted without IPI effect 1H25 1H26 Var. 2Q25 2Q26 Var. Car rental and franchising gross revenues, net of discounts and cancellations 4,851.3 7,211.5 9,118.6 10,652.1 11,495.3 7.9% 11,495.3 5,551.0 6,087.0 9.7% 2,718.5 3,016.1 10.9% Car sales for fleet renewal - gross revenues, net of discounts and cancellations 4,413.3 5,994.8 9,525.9 12,306.0 13,903.8 13.0% 13,903.8 6,604.4 9,658.3 46.2% 3,172.0 4,814.9 51.8% Total gross revenues 9,264.6 13,206.3 18,644.5 22,958.1 25,399.1 10.6% 25,399.1 12,155.4 15,745.3 29.5% 5,890.5 7,831.0 32.9% Taxes on revenues Car rental and franchising (455.9) (701.3) (863.1) (1,005.6) (1,071.0) 6.5% (1,071.0) (519.4) (561.9) 8.2% (257.1) (279.9) 8.9% Car sales for fleet renewal (5.2) (6.5) (10.9) (24.1) (24.7) 2.5% (24.7) (12.1) (18.3) 51.2% (6.1) (9.2) 50.8% Car rental revenues - net revenues 4,395.4 6,510.2 8,255.5 9,646.5 10,424.3 8.1% 10,424.3 5,031.6 5,525.1 9.8% 2,461.4 2,736.2 11.2% Car sales for fleet renewal - net revenues 4,408.1 5,988.3 9,515.0 12,281.9 13,879.1 13.0% 13,879.1 6,592.3 9,640.0 46.2% 3,165.9 4,805.7 51.8% Total net revenues 8,803.5 12,498.5 17,770.5 21,928.4 24,303.4 10.8% 24,303.4 11,623.9 15,165.1 30.5% 5,627.3 7,541.9 34.0% Direct costs - - - Car rental (1,406.9) (1,840.4) (2,035.9) (2,714.5) (2,328.4) -14.2% (2,316.4) (1,184.9) (1,123.9) -5.1% (558.6) (519.1) -7.1% Car sales for fleet renewal (3,416.2) (5,027.1) (8,914.6) (11,396.2) (13,015.1) 14.2% (12,934.6) (6,143.3) (8,915.3) 45.1% (2,949.9) (4,460.4) 51.2% Gross profit 3,980.4 5,631.0 6,820.0 7,817.7 8,959.9 14.6% 9,052.4 4,295.7 5,125.9 19.3% 2,118.8 2,562.4 20.9% Operating expenses (SG&A) - - - Car rental (832.6) (950.7) (902.1) (954.9) (1,116.5) 16.9% (1,116.5) (531.8) (671.8) 26.3% (264.9) (366.8) 38.5% Car sales for fleet renewal (360.7) (445.5) (516.2) (706.6) (745.2) 5.5% (745.2) (365.1) (503.5) 37.9% (183.9) (261.3) 42.1% Cars depreciation (183.7) (890.5) (2,242.2) (2,969.3) (2,724.6) -8.2% (2,191.5) (1,073.6) (1,194.6) 11.3% (535.6) (607.4) 13.4% Write up amortization - (64.1) (5.4) 14.4 0.5 -96.5% 0.5 0.5 - - - - Other assets depreciation and amortization Car rental (142.6) (181.6) (276.4) (302.3) (335.2) 10.9% (335.2) (164.4) (176.9) 7.6% (82.4) (89.1) 8.1% Car sales for fleet renewal (56.1) (61.4) (77.7) (71.1) (78.3) 10.1% (78.3) (37.9) (44.5) 17.4% (18.6) (21.6) 16.1% Operating profit before financial results and taxes (EBIT) 2,404.7 3,037.2 2,800.0 2,827.9 3,960.6 40.1% 4,586.2 2,123.4 2,534.6 19.4% 1,033.4 1,216.2 17.7% EBITDA 2,787.1 4,234.8 5,401.7 6,156.2 7,098.2 15.3% 7,190.7 3,398.8 3,950.6 16.2% 1,670.0 1,934.3 15.8% EBITDA margin 31.7% 33.9% 30.4% 28.1% 29.2% 1.1 p.p. 29.6% 29.2% 26.1% -3.1 p.p. 29.7% 25.6% -4.1 p.p. CAR RENTAL OPERATING DATA 2021 2022 2023 2024 2025 Var. 2025 1H25 1H26 Var. 2Q25 2Q26 Var. Average operating fleet (*) 195,242 246,922 285,103 293,700 290,595 -1.1% 290,595 291,328 294,400 1.1% 285,626 294,754 3.2% Total Average rented fleet 151,686 185,129 211,526 216,291 214,988 -0.6% 214,988 213,822 221,277 3.5% 207,168 220,196 6.3% Average operating fleet age (in months) 13.9 15.9 12.6 12.1 10.5 -13.2% 10.5 10.7 8.9 -16.8% 10.8 8.2 -24.1% End of period fleet(*) 216,293 331,445 347,287 354,474 352,032 -0.7% 352,032 327,073 365,395 11.7% 327,073 365,395 11.7% Number of rental days - in thousands (net of fleet replacement service) 53,756.6 66,009.1 75,219.1 76,183.4 75,779.7 -0.5% 75,779.7 37,316.9 38,756.8 3.9% 18,163.7 19,402.8 6.8% Average daily rental revenues per car (R$) 89.71 108.57 120.54 139.08 150.78 8.4% 150.78 147.98 155.93 5.4% 148.93 154.44 3.7% Annualized average depreciation per car (R$) 941.1 3,606.3 6,334.9 10,109.4 9,375.9 -7.3% 9,375.9 7,370.8 8,114.6 10.1% 7,501.2 8,242.5 9.9% Utilization rate (Does not include cars in preparation and decomissioning) 79.8% 79.6% 78.6% 79.0% 79.7% 0.7 p.p. 79.7% 78.8% 82.0% 3.2 p.p. 78.6% 81.9% 3.3 p.p. Number of cars purchased 83,382 170,750 172,620 192,668 191,020 -0.9% 191,020 66,407 140,934 112.2% 49,943 87,942 76.1% Number of cars sold 76,906 89,485 155,441 184,275 192,840 4.6% 192,840 93,344 128,695 37.9% 43,661 62,668 43.5% Average sold fleet age (in months) 21.9 28.3 28.3 23.3 21.9 -6.0% 21.9 22.7 19.6 -13.7% 22.2 19.4 -12.6% Average total fleet 209,172 275,889 319,382 326,519 329,572 0.9% 329,572 324,599 343,876 5.9% 322,960 353,075 9.3% Average value of total fleet - R$ million 10,592.7 17,199.0 22,075.1 24,547.6 25,844.3 5.3% 25,844.3 25,458.5 28,172.7 10.7% 25,399.9 29,484.5 16.1% Average value per car in the period - R$ thsd 50.6 62.3 69.1 75.2 78.4 4.3% 78.4 78.4 81.9 4.5% 78.6 83.5 6.2% (*) In 4Q22, the Company sold the carve-out, with a reduction of 49,296 cars in the fleet at the end of the period. The 3Q22 figures consider these cars. (**) Until 3Q23, preparation costs for sale were added to the book value of cars sold and include a provision for adjustment to the recoverable value of assets in 2Q23 and 2Q24
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23 CAR RENTAL RESULTS - MEXICO 2023 2024 2025 Var. 1H25 1H26 Var. 2Q25 2Q26 Var. Car rental and Seminovos - net revenues 10.8 107.0 222.9 108.3% 95.7 133.6 39.6% 49.3 66.9 35.7% Direct costs - Car Rental and Car Sales (23.4) (136.2) (241.3) 77.2% (107.5) (140.3) 30.5% (53.7) (69.1) 28.7% Gross profit (12.6) (29.2) (18.4) -37.0% (11.8) (6.7) -43.2% (4.4) (2.2) -50.0% Operating expenses (SG&A) (30.0) (59.6) (109.8) 84.2% (37.3) (51.2) 37.3% (21.6) (30.0) 38.9% Depreciation of cars and others (16.4) (69.5) (57.6) -17.1% (30.2) (53.3) 76.5% (16.5) (31.0) 87.9% Operating profit (loss) before financial results and taxes (EBIT) (59.0) (158.3) (185.8) 17.4% (79.3) (111.2) 40.2% (42.5) (63.2) 48.7% EBITDA (42.6) (88.8) (128.2) 44.4% (49.1) (57.9) 17.9% (26.0) (32.2) 23.8% OPERATING DATA 2023 2024 2025 Var. 1H25 1H26 Var. 2Q25 2Q26 Var. End of period fleet 1,266 2,137 2,780 30.1% 2,186 6,717 207.3% 2,186 6,717 207.3% Number Branches 10 18 29 61.1% 16 35 118.8% 16 35 118.8% Number of owned stores - Seminovos México - - 5 - - 6 100.0% - 6 100.0% In 2Q26, we continued to strengthen the foundations of our operations, ending the period with 35 Car Rental branches and 6 Seminovos stores. The significant increase in the end -of-period fleet from 2Q25 to 2Q26, together with the network expansion, is aimed at supporting revenue growth and diversification. The increase in costs and expenses reflects the expansion of the car rental and used car sales structure required to support the growth of our operations in Mexico. 1 6 – Car Rental – Mexico – R$ million
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24 17 – Fleet Rental – R$ million FLEET RENTAL RESULTS 2021 2022 2023 2024 2025 Var. 2025 adjusted without IPI effect 1H25 1H26 Var. 2Q25 2Q26 Var. Fleet rental gross revenues, net of discounts and cancellations 1,325.2 3,567.7 7,367.4 9,213.5 10,001.0 8.5% 10,001.0 4,948.3 5,185.5 4.8% 2,480.9 2,623.6 5.8% Taxes on revenues (127.3) (343.0) (690.2) (860.0) (932.7) 8.5% (932.7) (461.6) (483.0) 4.6% (232.8) (244.2) 4.9% Fleet rental net revenues 1,197.9 3,224.7 6,677.2 8,353.5 9,068.3 8.6% 9,068.3 4,486.7 4,702.5 4.8% 2,248.1 2,379.4 5.8% Fleet rental costs (315.6) (678.6) (1,268.4) (2,002.7) (1,688.5) -15.7% (1,681.8) (891.0) (763.4) -14.3% (445.9) (378.3) -15.2% Gross profit 882.3 2,546.1 5,408.8 6,350.8 7,379.8 16.2% 7,386.5 3,595.7 3,939.1 9.6% 1,802.2 2,001.1 11.0% Operating expenses (SG&A) (141.2) (433.3) (559.4) (768.0) (797.5) 3.8% (797.5) (433.0) (377.0) -12.9% (206.4) (201.8) -2.2% Gain (loss) from divestiture in subsidiaries - - - - - - - - 282.4 100.0% - - 100.0% Other assets depreciation and amortization (8.3) (24.7) (54.8) (78.9) (85.3) 8.1% (85.3) (40.7) (45.4) 11.5% (20.6) (23.5) 14.1% write up amortization - (16.0) 6.5 (6.8) (4.0) -41.2% (4.0) (3.4) - -100.0% (1.7) - -100.0% Operating profit before financial results and taxes (EBIT) 732.8 2,072.1 4,801.1 5,497.1 6,493.0 18.1% 6,499.7 3,118.6 3,799.1 21.8% 1,573.5 1,775.8 12.9% EBITDA 741.1 2,112.8 4,849.4 5,582.8 6,582.3 17.9% 6,589.0 3,162.7 3,844.5 21.6% 1,595.8 1,799.3 12.8% EBITDA Margin 61.9% 65.5% 72.6% 66.8% 72.6% 5.8 p.p. 72.7% 70.5% 81.8% 11.3 p.p. 71.0% 75.6% 4.6 p.p. USED CAR SALES RESULTS (SEMINOVOS) 2021 2022 2023 2024 2025 Var. 2025 adjusted without IPI effect 1H25 1H26 Var. 2Q25 2Q26 Var. Gross revenues, net of discounts and cancellations 900.7 2,066.0 4,450.1 6,889.6 8,198.8 19.0% 8,198.8 3,838.0 4,617.3 20.3% 1,978.0 2,342.4 18.4% Taxes on revenues (0.8) (5.8) (6.0) (6.9) (11.8) 71.0% (11.8) (5.0) (7.4) 48.0% (2.6) (3.8) 46.2% Net revenues 899.9 2,060.2 4,444.1 6,882.7 8,187.0 19.0% 8,187.0 3,833.0 4,609.9 20.3% 1,975.4 2,338.6 18.4% Book value of cars sold (**) (659.3) (1,627.1) (3,915.1) (6,297.7) (7,585.9) 20.5% (7,548.4) (3,544.2) (4,255.4) 20.1% (1,820.4) (2,166.6) 19.0% Gross profit 240.6 433.1 529.0 585.0 601.1 2.8% 638.6 288.8 354.5 22.7% 155.0 172.0 11.0% Operating expenses (SG&A) (71.2) (191.6) (214.6) (320.5) (400.0) 24.8% (400.0) (182.1) (220.9) 21.3% (102.3) (118.3) 15.6% Cars depreciation (71.4) (549.0) (1,598.9) (2,606.9) (2,660.5) 2.1% (2,401.1) (1,186.8) (1,282.9) 8.1% (596.5) (648.5) 8.7% Other assets depreciation and amortization (11.4) (21.7) (24.8) (35.5) (45.2) 27.3% (45.2) (22.3) (21.4) -4.0% (11.7) (11.0) -6.0% write up amortization - (250.7) (334.3) 16.4 48.4 195.1% 48.4 24.1 5.6 -76.8% 11.5 1.5 -87.0% Operating profit (loss) before financial results and taxes (EBIT) 86.6 (579.9) (1,643.6) (2,361.5) (2,456.2) 4.0% (2,159.3) (1,078.3) (1,165.1) 8.0% (544.0) (604.3) 11.1% EBITDA 169.4 241.5 314.4 264.5 201.1 -24.0% 238.6 106.7 133.6 25.2% 52.7 53.7 1.9% EBITDA Margin 18.8% 11.7% 7.1% 3.8% 2.5% -1.3 p.p. 2.9% 2.8% 2.9% 0.1 p.p. 2.7% 2.3% -0.4 p.p. FLEET RENTAL TOTAL FIGURES 2021 2022 2023 2024 2025 Var. 2025 adjusted without IPI effect 1H25 1H26 Var. 2Q25 2Q26 Var. Fleet rental gross revenues, net of discounts and cancellations 1,325.2 3,567.7 7,367.4 9,213.5 10,001.0 8.5% 10,001.0 4,948.3 5,185.5 4.8% 2,480.9 2,623.6 5.8% Car sales for fleet renewal - gross revenues, net of discounts and cancellations 900.7 2,066.0 4,450.1 6,889.6 8,198.8 19.0% 8,198.8 3,838.0 4,617.3 20.3% 1,978.0 2,342.4 18.4% Total gross revenues 2,225.9 5,633.7 11,817.5 16,103.1 18,199.8 13.0% 18,199.8 8,786.3 9,802.8 11.6% 4,458.9 4,966.0 11.4% Taxes on revenues - - - Fleet rental (*) (127.3) (343.0) (690.2) (860.0) (932.7) 8.5% (932.7) (461.6) (483.0) 4.6% (232.8) (244.2) 4.9% Car sales for fleet renewal (0.8) (5.8) (6.0) (6.9) (11.8) 71.0% (11.8) (5.0) (7.4) 48.0% (2.6) (3.8) 46.2% Fleet rental - net revenues 1,197.9 3,224.7 6,677.2 8,353.5 9,068.3 8.6% 9,068.3 4,486.7 4,702.5 4.8% 2,248.1 2,379.4 5.8% Car sales for fleet renewal - net revenues 899.9 2,060.2 4,444.1 6,882.7 8,187.0 19.0% 8,187.0 3,833.0 4,609.9 20.3% 1,975.4 2,338.6 18.4% Total net revenues (**) 2,097.8 5,284.9 11,121.3 15,236.2 17,255.3 13.3% 17,255.3 8,319.7 9,312.4 11.9% 4,223.5 4,718.0 11.7% Direct costs Fleet rental (315.6) (678.6) (1,268.4) (2,002.7) (1,688.5) -15.7% (1,681.8) (891.0) (763.4) -14.3% (445.9) (378.3) -15.2% Car sales for fleet renewal (659.3) (1,627.1) (3,915.1) (6,297.7) (7,585.9) 20.5% (7,548.4) (3,544.2) (4,255.4) 20.1% (1,820.4) (2,166.6) 19.0% Gross profit 1,122.9 2,979.2 5,937.8 6,935.8 7,980.9 15.1% 8,025.1 3,884.5 4,293.6 10.5% 1,957.2 2,173.1 11.0% Operating expenses (SG&A) - - - Fleet rental (141.2) (433.3) (559.4) (768.0) (797.5) 3.8% (797.5) (433.0) (377.0) -12.9% (206.4) (201.8) -2.2% Car sales for fleet renewal (71.2) (191.6) (214.6) (320.5) (400.0) 24.8% (400.0) (182.1) (220.9) 21.3% (102.3) (118.3) 15.6% Gain (loss) from divestiture in subsidiaries - - - - - - - 282.4 - - 100.0% Cars depreciation (71.4) (549.0) (1,598.9) (2,606.9) (2,660.5) 2.1% (2,401.1) (1,186.8) (1,282.9) 8.1% (596.5) (648.5) 8.7% write up amortization - (266.7) (327.8) 9.6 44.4 362.5% 44.4 20.7 5.6 -72.9% 9.8 1.5 -84.7% Other assets depreciation and amortization - - - - Fleet rental (8.3) (24.7) (54.8) (78.9) (85.3) 8.1% (85.3) (40.7) (45.4) 11.5% (20.6) (23.5) 14.1% Car sales for fleet renewal (11.4) (21.7) (24.8) (35.5) (45.2) 27.3% (45.2) (22.3) (21.4) -4.0% (11.7) (11.0) -6.0% Operating profit before financial results and taxes (EBIT) 819.4 1,492.2 3,157.5 3,135.6 4,036.8 28.7% 4,340.4 2,040.3 2,634.0 29.1% 1,029.5 1,171.5 13.8% EBITDA 910.5 2,354.3 5,163.8 5,847.3 6,783.4 16.0% 6,827.6 3,269.4 3,978.1 21.7% 1,648.5 1,853.0 12.4% EBITDA margin 43.4% 44.5% 46.4% 38.4% 39.3% 0.9 p.p. 39.6% 39.3% 42.7% 3.4 p.p. 39.0% 39.3% 0.3 p.p. OPERATING DATA 2021 2022 2023 2024 2025 Var. 2025 1H25 1H26 Var. 2Q25 2Q26 Var. Average operating fleet 61,962 142,703 258,334 288,783 281,780 -2.4% 281,780 283,334 280,748 -0.9% 281,483 282,005 0.2% Total Average rented fleet 63,493 137,700 239,839 263,494 260,539 -1.1% 260,539 262,296 260,241 -0.8% 260,142 261,489 0.5% Average operating fleet age (in months) 20.3 19.9 18.3 18.7 20.1 7.4% 20.1 20.1 19.5 -3.0% 20.3 19.3 -4.9% End of period fleet 73,503 259,596 309,059 312,751 303,684 -2.9% 303,684 303,698 305,051 0.4% 303,698 305,051 0.4% Number of rental days - in thousands 22,857.3 48,585.1 85,834.7 94,444.8 93,438.3 -1.1% 93,438.3 46,962.5 46,761.9 -0.4% 23,339.4 23,487.2 0.6% Average daily rental revenues per car (R$) 57.49 72.97 82.93 94.26 103.27 9.6% 103.27 101.57 108.01 6.3% 102.67 108.56 5.7% Annualized average depreciation per car (R$) 1,152.7 3,855.1 6,025.5 9,026.8 9,441.5 4.6% 9,441.5 8,377.4 9,139.9 9.1% 8,476.4 9,198.1 8.5% Utilization rate (Does not include cars in preparation and decomissioning) (*) 98.0% 96.7% 95.6% 95.2% 96.1% 0.9 p.p. 96.1% 96.0% 96.7% 0.7 p.p. 95.8% 96.7% 0.9 p.p. Number of cars purchased 28,128 84,179 116,002 100,585 95,327 -5.2% 95,327 41,529 61,772 48.7% 24,094 32,684 35.7% Number of cars sold 15,939 29,053 65,938 95,569 103,612 8.4% 103,612 50,277 58,732 16.8% 25,240 29,375 16.4% Average sold fleet age (in months) 31.8 36.3 36.5 35.0 33.5 -4.3% 33.5 33.7 34.5 2.4% 33.8 34.4 1.8% Average total fleet 66,451 158,386 282,359 309,348 304,170 -1.7% 304,170 305,089 302,797 -0.8% 303,791 304,401 0.2% Average value of total fleet - R$ million 3,370.7 11,313.5 23,348.5 27,033.2 26,816.2 -0.8% 26,816.2 26,914.2 27,021.4 0.4% 26,871.7 27,278.3 1.5% Average value per car in the period - R$ thsd 50.7 71.4 82.7 87.4 88.2 0.9% 88.2 88.2 89.2 1.1% 88.5 89.6 1.2% (*) Does not include replacement service from Car Rental (**) Until 3Q23, preparation costs for sale were added to the book value of cars sold and include a provision for adjustment to the recoverable value of assets in 2Q23 and 2Q24
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25 CONSOLIDATED RESULTS 2021 2022 2023 2024 2025 Var. 2025 adjusted 1H25 1H26 Var. 2Q25 2Q26 Var. Car rental and franchising gross revenues, net of discounts and cancellations 4,851.3 7,211.5 9,129.4 10,734.1 11,600.8 8.1% 11,600.8 5,603.3 6,153.1 9.8% 2,743.5 3,050.5 11.2% Fleet Rental gross revenues, net of discounts and cancellations 1,325.2 3,567.7 7,367.4 9,213.5 10,001.0 8.5% 10,001.0 4,948.3 5,185.5 4.8% 2,480.9 2,623.6 5.8% Car and Fleet Rentals and Franchising total gross revenues 6,176.5 10,779.2 16,496.8 19,947.6 21,601.8 8.3% 21,601.8 10,551.6 11,338.6 7.5% 5,224.4 5,674.1 8.6% Taxes on revenues - Car and Fleet Rentals and Franchising (583.2) (1,044.3) (1,553.3) (1,865.6) (2,003.7) 7.4% (2,003.7) (981.0) (1,044.9) 6.5% (489.9) (524.1) 7.0% Car and Fleet Rentals and Franchising net revenues 5,593.3 9,734.9 14,943.5 18,082.0 19,598.1 8.4% 19,598.1 9,570.6 10,293.7 7.6% 4,734.5 5,150.0 8.8% Car sales gross revenues Car sales for fleet renewal - Car Rental, net of discounts and cancellations 4,413.3 5,994.8 9,525.9 12,331.0 14,021.2 13.7% 14,021.2 6,647.8 9,725.8 46.3% 3,196.3 4,847.4 51.7% Car sales for fleet renewal - Fleet Rental, net of discounts and cancellations 900.7 2,066.0 4,450.1 6,889.6 8,198.8 19.0% 8,198.8 3,838.0 4,617.3 20.3% 1,978.0 2,342.4 18.4% Car sales for fleet renewal - total gross revenues 5,314.0 8,060.8 13,976.0 19,220.6 22,220.0 15.6% 22,220.0 10,485.8 14,343.1 36.8% 5,174.3 7,189.8 39.0% Taxes on revenues - Car sales for fleet renewal (6.0) (12.3) (16.9) (31.0) (36.5) 17.7% (36.5) (17.1) (25.7) 50.3% (8.7) (13.0) 49.4% Car sales for fleet renewal - net revenues 5,308.0 8,048.5 13,959.1 19,189.6 22,183.5 15.6% 22,183.5 10,468.7 14,317.4 36.8% 5,165.6 7,176.8 38.9% Total net revenues 10,901.3 17,783.4 28,902.6 37,271.6 41,781.6 12.1% 41,781.6 20,039.3 24,611.1 22.8% 9,900.1 12,326.8 24.5% Direct costs and expenses: Car rental and franchising (1,406.9) (1,840.4) (2,059.3) (2,826.2) (2,459.7) -13.0% (2,447.7) (1,251.4) (1,200.3) -4.1% (589.4) (557.9) -5.3% Fleet Rental (315.6) (678.6) (1,268.4) (2,002.7) (1,688.5) -15.7% (1,681.8) (891.0) (763.4) -14.3% (445.9) (378.3) -15.2% Total Car and Fleet Rentals and Franchising (1,722.5) (2,519.0) (3,327.7) (4,828.9) (4,148.2) -14.1% (4,129.5) (2,142.4) (1,963.7) -8.3% (1,035.3) (936.2) -9.6% Car sales for fleet renewal - Car rental (3,416.2) (5,027.1) (8,914.6) (11,420.7) (13,082.1) 14.5% (13,044.6) (6,184.3) (8,979.2) 45.2% (2,972.8) (4,490.7) 51.1% Car sales for fleet renewal - Fleet Rental (659.3) (1,627.1) (3,915.1) (6,297.7) (7,628.9) 21.1% (7,548.4) (3,544.2) (4,255.4) 20.1% (1,820.4) (2,166.6) 19.0% Total Car sales for fleet renewal (book value)(*) (4,075.5) (6,654.2) (12,829.7) (17,718.4) (20,711.0) 16.9% (20,593.0) (9,728.5) (13,234.6) 36.0% (4,793.2) (6,657.3) 38.9% Total costs (5,798.0) (9,173.2) (16,157.4) (22,547.3) (24,859.2) 10.3% (24,722.5) (11,870.9) (15,198.3) 28.0% (5,828.5) (7,593.5) 30.3% - - - 0.0% Gross profit 5,103.3 8,610.2 12,745.2 14,724.3 16,922.4 14.9% 17,059.1 8,168.4 9,412.8 15.2% 4,071.6 4,733.3 16.3% Operating expenses Car rental and franchising (973.9) (1,384.0) (1,491.5) (1,782.3) (2,019.4) 13.3% (2,019.4) (1,000.4) (1,093.9) 9.3% (491.6) (594.8) 21.0% Car sales for fleet renewal (431.9) (637.1) (730.8) (1,027.3) (1,149.6) 11.9% (1,149.6) (548.9) (730.5) 33.1% (287.5) (383.4) 33.4% Gain (loss) from divestiture in subsidiaries - - - - - - - 282.4 - - 100.0% Total Operating expenses (1,405.8) (2,021.1) (2,222.3) (2,809.6) (3,169.0) 12.8% (3,169.0) (1,549.3) (1,542.0) -0.5% (779.1) (978.2) 25.6% Depreciation expenses: Cars depreciation: (255.1) (1,439.5) (3,844.7) (5,609.7) (5,413.3) -3.5% (4,620.8) (2,275.6) (2,510.4) 10.3% (1,140.6) (1,276.9) 11.9% Write up amortization - (330.8) (333.2) 24.0 44.9 87.1% 44.9 21.2 5.6 -73.6% 9.8 1.5 -84.7% Other assets depreciation and amortization (218.4) (289.4) (446.5) (523.8) (573.4) 9.5% (573.4) (280.3) (308.6) 10.1% (141.3) (155.2) 9.8% Total depreciation and amortization expenses (473.5) (1,728.9) (4,291.2) (6,133.5) (5,986.7) -2.4% (5,194.2) (2,555.9) (2,819.0) 10.3% (1,281.9) (1,432.1) 11.7% Operating profit before financial results and taxes (EBIT) 3,224.0 4,529.4 5,898.5 5,805.2 7,811.6 34.6% 8,740.8 4,084.4 5,057.4 23.8% 2,020.4 2,324.5 15.1% Equity equivalence result - 0.1 - - - - - - - - - - - Financial expenses, net: Financial (expenses) revenues, net (320.9) (2,110.6) (4,024.3) (3,938.7) (4,613.7) 17.1% (4,613.8) (2,195.4) (2,247.1) 2.4% (1,125.8) (1,108.5) -1.5% Income before tax and social contribution 2,903.1 2,418.9 1,874.2 1,866.5 3,197.9 71.3% 4,127.0 1,889.0 2,810.3 48.8% 894.6 1,216.0 35.9% Income tax and social contribution (859.4) (577.8) (71.1) (53.2) (1,327.4) 2395.1% (1,643.3) (1,215.1) (585.4) -51.8% (1,063.2) (213.0) -80.0% Minority interest - - - - - - - - - - - - - Net income for the period 2,043.7 1,841.1 1,803.1 1,813.3 1,870.5 3.2% 2,483.7 673.9 2,224.9 230.2% (168.6) 1,003.0 -694.9% Deferred income tax and social contribution on Locamerica's tax loss - - - - - - 936.8 936.8 - 100% 936.8 - 100% Adjusted net income for the period 2,043.7 1,841.1 1,803.1 1,813.3 1,870.5 3.2% 3,420.5 1,610.7 2,224.9 38.1% 768.2 1,003.0 30.6% EBITDA 3,697.5 6,589.2 10,522.9 11,914.7 13,753.4 15.4% 13,890.1 6,619.1 7,870.8 18.9% 3,292.5 3,755.1 14.1% EBIT 3,224.0 4,529.5 5,898.5 5,805.2 7,811.6 34.6% 8,740.8 4,084.4 5,057.4 23.8% 2,020.4 2,324.5 15.1% Consolidated EBIT Margin (calculated over rental revenues) 57.6% 46.5% 39.5% 32.1% 39.9% 7.8 p.p. 44.6% 42.7% 49.1% 6.5 p.p. 42.7% 45.1% 2.5 p.p. - - - Car and Fleet Rentals and Franchising EBITDA 2,897.0 5,831.9 10,124.3 11,470.8 13,430.5 17.1% 13,449.2 6,427.8 7,236.1 12.6% 3,207.6 3,619.0 12.8% EBITDA Margin 51.8% 59.9% 67.8% 63.4% 68.5% 5.1 p.p. 68.6% 67.2% 70.3% 3.1 p.p. 67.7% 70.3% 2.6 p.p. Used Car Sales (Seminovos) EBITDA 800.6 757.4 398.6 443.9 322.9 -27.3% 440.9 191.3 352.3 84.2% 84.9 136.1 60.3% EBITDA Margin 15.1% 9.4% 2.9% 2.3% 1.5% -0.8 p.p. 2.0% 1.8% 2.5% 0.7 p.p. 1.6% 1.9% 0.3 p.p. (*) Until 3Q23, preparation costs for sale were added to the book value of cars sold and include a provision for adjustment to the recoverable value of assets in 2Q23 and 2Q24 (**) For comparability with the financial information presented in accordance with IFRS from 2011 on, net revenues of 2010, which are presented in USGAAP, are net of taxes on revenues. 1 8 – Consolidated result – R$ million
Page 26
26 SELECTED OPERATING DATA 2021 2022 2023 2024 2025 Var. 1H25 1H26 Var. 2Q25 2Q26 Var. Average operating fleet: Car Rental - Brazil (**) 195,242 246,922 285,103 293,700 290,595 -1.1% 291,328 294,400 1.1% 285,626 294,754 3.2% Fleet Rental 61,962 142,703 258,334 288,783 281,780 -2.4% 283,334 280,748 -0.9% 281,483 282,005 0.2% Total 257,204 389,625 543,437 582,483 572,375 -1.7% 574,662 575,148 0.1% 567,109 576,759 1.7% Average rented fleet: Car Rental - Brazil (**) 151,686 185,129 211,526 216,291 214,988 -0.6% 213,822 221,277 3.5% 207,168 220,196 6.3% Fleet Rental 63,493 137,700 239,839 263,494 260,539 -1.1% 262,296 260,241 -0.8% 260,142 261,489 0.5% Total 215,179 322,828 451,364 479,785 475,527 -0.9% 476,118 481,518 1.1% 467,310 481,685 3.1% Average age of operating fleet (months) Car Rental 13.9 15.9 12.6 12.1 10.5 -13.2% 10.7 8.9 -16.8% 10.8 8.2 -24.1% Fleet Rental 20.3 19.9 18.3 18.7 20.1 7.4% 20.1 19.5 -3.0% 20.3 19.3 -4.9% Average age of total operating fleet 15.5 17.4 15.3 15.4 15.2 -1.0% 15.3 14.1 -8.2% 15.5 13.6 -12.2% Fleet at end of period: Car Rental - Brazil (**) 216,293 331,445 347,287 354,474 352,032 -0.7% 327,073 365,395 11.7% 327,073 365,395 11.7% Car Rental - Mexico - - 1,266 2,137 2,780 30.1% 2,186 6,717 207.3% 2,186 6,717 207.3% Fleet Rental 73,503 259,596 309,059 312,751 303,684 -2.9% 303,698 305,051 0.4% 303,698 305,051 0.4% Total 289,796 591,041 657,612 669,362 658,496 -1.6% 632,957 677,163 7.0% 632,957 677,163 7.0% Fleet investment (R$ million) (include accessories from 2022) Car Rental - Brazil 5,625.1 14,305.9 14,256.4 16,317.1 16,281.0 -0.2% 5,591.0 12,908.4 130.9% 4,189.2 8,209.3 96.0% Car Rental - Mexico - - 46.7 96.9 219.5 126.5% 63.8 396.5 521.5% 47.2 292.3 519.3% Fleet Rental 2,022.1 8,094.4 11,646.5 9,883.3 9,818.1 -0.7% 4,311.3 6,260.4 45.2% 2,472.3 3,388.7 37.1% Total 7,647.2 22,400.3 25,949.6 26,297.3 26,318.6 0.1% 9,966.1 19,565.3 96.3% 6,708.7 11,890.3 77.2% Number of rental days (In thousands): Car Rental - Brazil 55,358.0 67,649.5 77,218.0 79,171.2 78,474.9 -0.9% 38,697.6 40,056.1 3.5% 18,849.8 20,036.7 6.3% Rental days for Fleet Rental replacement service (1,601.4) (1,640.4) (1,998.9) (2,987.9) (2,695.2) -9.8% (1,380.6) (1,299.2) -5.9% (686.1) (633.9) -7.6% Car Rental - Net 53,756.6 66,009.1 75,219.1 76,183.2 75,779.7 -0.5% 37,317.0 38,756.8 3.9% 18,163.7 19,402.8 6.8% Fleet Rental 22,857.3 48,585.1 85,834.7 94,766.0 93,784.9 -1.0% 47,204.3 46,843.4 -0.8% 23,409.2 23,534.1 0.5% Rental days for Car Rental replacement service - - - (321.2) (346.6) 0.08 (241.8) (81.5) -66.3% (69.8) (46.8) -32.9% Fleet Rental - Net 22,857.3 48,585.1 85,834.7 94,444.8 93,438.3 -1.1% 46,962.5 46,761.9 -0.4% 23,339.4 23,487.2 0.6% Total 76,613.9 114,594.2 161,053.8 170,628.1 169,218.0 -0.8% 84,279.5 85,518.8 1.5% 41,503.1 42,890.0 3.3% Annualized average depreciation per car (R$) Car Rental - Brazil 941.1 3,606.3 6,334.9 10,109.4 9,375.9 -7.3% 7,370.8 8,114.6 10.1% 7,501.2 8,242.5 9.9% Fleet Rental 1,152.7 3,855.1 6,025.5 9,026.8 9,441.5 4.6% 8,377.4 9,139.9 9.1% 8,476.4 9,198.1 8.5% Total 992.0 3,697.4 6,187.8 9,572.7 9,408.2 -1.7% 7,867.1 8,615.1 9.5% 7,985.3 8,709.8 9.1% Average annual gross revenues per operating car (R$ thousand) Car Rental 24.7 29.0 31.8 48.7 39.4 -19.1% 38.0 41.1 8.1% 38.5 41.2 6.9% Fleet Rental 21.2 24.8 27.6 41.1 34.2 -16.8% 33.7 35.9 6.6% 34.5 36.7 6.3% Average daily rental (R$) Car Rental - Brazil(*) 89.71 108.57 120.54 139.08 150.78 8.4% 147.98 155.93 5.4% 148.93 154.44 3.7% Fleet Rental 57.49 72.97 82.93 94.26 103.27 9.6% 101.57 108.01 6.3% 102.67 108.56 5.7% Utilization rate (does not include cars in preparation and decomissioning): Car Rental - Brazil 79.8% 79.6% 78.6% 79.0% 79.7% 0.7 p.p. 78.8% 82.0% 3.2 p.p. 78.6% 81.9% 3.3 p.p. Fleet Rental 98.0% 96.7% 95.6% 95.2% 96.1% 0.9 p.p. 96.0% 96.7% 0.7 p.p. 95.8% 96.7% 0.9 p.p. Number of cars purchased - Car Rental Brazil 83,382 170,750 172,620 192,668 191,020 -0.9% 66,407 140,934 112.2% 49,943 87,942 76.1% Number of cars purchased - Fleet Rental Brazil 28,128 84,179 116,002 100,585 95,327 -5.2% 41,529 61,772 48.7% 24,094 32,684 35.7% Number of cars purchased - Mexico - - 1,262 1,297 2,579 98.8% 822 4,931 499.9% 613 3,468 100.0% Total 111,510 254,929 289,884 294,550 288,926 -1.9% 108,758 207,637 90.9% 74,650 124,094 66.2% Average price of cars purchased (R$ thsd) - Brazil 68.58 87.87 89.75 89.34 91.15 2.0% 149.12 94.56 -36.6% 89.98 96.15 6.9% Numbers of cars sold - Car Rental Brazil 76,906 89,485 155,441 184,275 192,840 4.6% 93,344 128,695 37.9% 43,661 62,668 43.5% Numbers of cars sold - Fleet Rental Brazil 15,939 29,053 65,938 95,569 103,612 8.4% 50,277 58,732 16.8% 25,240 29,375 16.4% Numbers of cars sold - Mexico - - - 396 1,855 368% 710 968 36.3% 387 476 23.0% Total 92,845 118,538 221,379 280,240 298,307 6.4% 144,331 188,395 30.5% 69,288 92,519 33.5% Average price of cars solds (R$ thsd) (***) - Brazil 52.63 62.58 59.47 64.92 70.7 8.9% 68.9 72.3 4.9% 70.60 73.64 4.3% Car Rental network 620 694 712 706 691 -2.1% 691 697 0.9% 691 697 0.9% Own locations - Brazil 453 522 537 537 517 -3.7% 528 525 -0.6% 528 525 -0.6% Own locations - Mexico 0 0 10 18 29 61.1% 16 35 118.8% 16 35 118.8% Franchisees locations - Brazil 93 86 79 77 75 -2.6% 76 68 -10.5% 76 68 -10.5% Franchisees locations - Abroad 74 86 86 74 70 -5.4% 71 69 -2.8% 71 69 -2.8% Number of owned stores - Seminovos Brazil 127 186 215 242 263 8.7% 244 269 10.2% 244 269 10.2% Number of owned stores – Trucks (Brazil) - - - - - - - 4 100.0% - 4 100.0% Number of owned stores - Seminovos México - - - - 5 - - 6 100.0% - 6 100.0% (*) Not included the rentals for Fleet Rental Division. (**) in 4Q22 the Company concluded the carve-out sale, with a reduction of 49,296 cars in the end of period fleet. (***) Net of SG&A expenses related to the sale of cars decomissioned for fleet renewal. 1 9 – Operating data
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27 20 – Consolidated financial statements – IFRS – R$ million ASSETS 2021 2022 2023 2024 2025 1H26 CURRENT ASSETS: Cash and cash equivalents 444.1 1,505.6 2,000.9 3,568.6 1,705.5 1,799.1 Financial assets 4,565.4 4,053.8 8,321.3 7,856.9 8,887.4 8,350.2 Trade accounts receivable 1,310.4 2,480.2 3,681.6 4,033.7 3,995.1 4,440.2 Derivative financial instruments - swap 89.6 283.0 87.7 572.0 339.0 394.3 Early vesting of shares – long-term incentive plans - - - - - 10.8 Other current assets 351.3 1,316.4 1,141.5 1,287.1 1,348.5 1,928.3 Decommissioning cars to fleet renewal 182.0 1,976.1 2,531.4 3,463.6 3,444.8 4,483.5 Asset held for sale - - - - 134.8 144.9 Total current assets 6,942.8 11,615.1 17,764.4 20,781.9 19,855.1 21,551.3 NON CURRENT ASSETS: Long-term assets: Financial assets 3.0 1,349.9 1,186.4 1,216.9 1,242.7 1,240.3 (-) Fair value adjustment of the deposit tied to linked account - (423.0) (334.3) (241.8) (149.7) (105.4) Derivative financial instruments - swap 448.1 365.6 377.2 1,592.4 792.8 1,047.6 Trade accounts receivable 2.7 9.8 6.6 21.1 16.3 7.9 Escrow deposit 121.8 220.6 265.4 241.2 242.0 249.4 Deferred income tax and social contribution 24.3 23.0 38.2 457.5 479.1 472.1 Investments in restricted accounts 46.1 51.4 - 56.5 58.3 62.1 Early vesting of shares – long-term incentive plans - - - - - 429.6 Other non current assets 286.3 580.9 675.5 397.5 423.9 672.3 Total long-term assets 932.3 2,178.2 2,215.0 3,741.3 3,105.4 4,075.9 Investments: - 1.2 - - - - Property and equipment Cars 15,842.9 41,254.1 49,914.3 51,461.5 51,314.5 53,929.4 Right of use 736.0 834.7 1,122.8 1,190.1 1,142.4 1,124.0 Other 715.0 931.7 1,079.3 1,190.8 1,274.9 1,386.2 Intangible: Software and others 37.6 373.7 388.0 414.7 438.4 446.0 Goodwill on acquisition of investments 105.4 8,463.3 8,463.3 8,463.3 8,435.9 8,307.5 Total non current assets 18,369.2 54,036.9 63,182.7 66,461.7 65,711.5 69,269.0 TOTAL ASSETS 25,312.0 65,652.0 80,947.1 87,243.6 85,566.6 90,820.3 LIABILITIES AND SHAREHOLDERS' EQUITY 2021 2022 2023 2024 2025 1H26 CURRENT LIABILITIES: Trade accounts payable 2,059.3 6,177.8 8,881.4 10,026.4 9,342.6 11,359.5 [17:54] Valmir Gomes Assignment of credit rights - 141.8 86.3 37.5 10.6 2.6 Social and labor obligations 276.1 333.7 399.2 478.7 508.5 779.5 Loans, financing and debentures 1,884.8 3,353.5 7,226.5 5,295.9 4,585.2 4,711.6 Lease liability 157.0 185.2 261.6 320.5 253.8 257.3 Derivative financial instruments - swap 9.1 137.4 370.7 91.1 298.1 219.5 Income tax and social contribution 9.0 11.7 119.1 183.0 34.7 128.6 Dividends and interest on own capital 288.8 320.4 357.4 380.1 480.5 515.2 Other current liabilities 300.4 575.3 714.8 900.7 946.9 918.1 Liability held for sale - - - - 104.2 14.9 Total current liabilities 4,984.5 11,236.8 18,417.0 17,713.9 16,565.1 18,906.8 NON CURRENT LIABILITIES:[17:54] Valmir Gomes Assignment of credit rights - 134.2 48.1 10.6 - - Loans, financing and debentures 10,548.3 29,917.6 33,381.1 39,470.6 39,010.2 39,924.5 Lease liability 635.2 727.3 966.5 1,016.1 1,051.1 1,038.9 Derivative financial instruments - swap 134.7 260.1 260.0 13.2 125.6 327.8 Provisions 163.6 672.5 604.3 552.7 574.9 584.5 Deferred income tax and social contribution 1,147.9 2,010.9 1,700.6 1,947.9 2,493.0 2,766.7 Restricted Obligations 47.0 52.1 57.9 58.6 61.5 65.6 Other non current liabilities 33.7 69.9 113.8 117.3 146.2 102.9 Total non current liabilities 12,710.4 33,844.6 37,132.3 43,187.0 43,462.5 44,810.9 Total liabilities 17,694.9 45,081.4 55,549.3 60,900.9 60,027.6 63,717.7 SHAREHOLDERS' EQUITY: Capital 4,000.0 12,150.7 17,376.9 17,908.3 19,973.5 19,973.5 Expenses with share issues (43.1) (43.1) (118.8) (118.8) (118.8) (118.8) Treasury Shares (162.1) (144.6) (447.2) (1,208.0) (1,177.3) (791.5) Capital Reserves 203.0 4,089.1 4,145.2 4,206.6 4,285.7 4,291.5 Earnings Reserves 3,618.4 4,516.3 4,756.8 4,890.5 2,598.9 3,661.0 Equity Valuation Adjustment 0.9 (9.2) - - - - Other comprehensive results - - (324.0) 655.5 (26.6) 86.9 Participation of non-controlling partners - 11.4 8.9 8.6 3.6 - Total shareholders' equity 7,617.1 20,570.6 25,397.8 26,342.7 25,539.0 27,102.6 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 25,312.0 65,652.0 80,947.1 87,243.6 85,566.6 90,820.3
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28 2 1 – Consolidated financial statements – Statement of Income – R$ million STATEMENT OF INCOME 2021 2022 2023 2024 2025 2025 adjusted 1H26 Total net revenues 10,901.3 17,783.4 28,902.6 37,271.6 41,781.6 41,781.6 24,611.1 COSTS AND EXPENSES: Direct costs (5,798.0) (9,173.2) (16,157.4) (22,547.3) (24,859.2) (24,722.5) (15,198.3) Selling, general, administrative and other expenses (1,405.8) (2,021.1) (2,222.3) (2,809.6) (3,169.0) (3,169.0) (1,542.0) Cars depreciation (255.1) (1,754.3) (4,184.4) (5,585.7) (5,368.4) (4,575.9) (2,504.8) Other assets depreciation and amortization (218.4) (305.4) (440.0) (523.8) (573.4) (573.4) (308.6) Total costs and expenses (7,677.3) (13,254.0) (23,004.1) (31,466.4) (33,970.0) (33,040.8) (19,553.7) Income before financial results and taxes (EBIT) 3,224.0 4,529.4 5,898.5 5,805.2 7,811.6 8,740.8 5,057.4 Equity in the earnings of subsidiaries - 0.1 - - - - - FINANCIAL EXPENSES, NET (320.9) (2,110.6) (4,024.3) (3,938.7) (4,613.7) (4,613.8) (2,247.1) Income before taxes 2,903.1 2,418.9 1,874.2 1,866.5 3,197.9 4,127.0 2,810.3 INCOME TAX AND SOCIAL CONTRIBUTION (859.4) (577.8) (71.1) (53.2) (1,327.4) (1,643.3) (585.4) Net income 2,043.7 1,841.1 1,803.1 1,813.3 1,870.5 2,483.7 2,224.9 DEFERRED INCOME TAX AND SOCIAL CONTRIBUTION ON LOCAMERICA'S TAX LOSS - - - - - 936.8 Adjusted Net Income 2,043.7 1,841.1 1,803.1 1,813.3 1,870.5 3,420.5 2,224.9
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29 2 2 – Statements of cash flow – R$ million CONSOLIDATED CASH FLOW 2021 2022 2023 2024 2025 1H26 CASH FLOWS FROM OPERATING ACTIVITIES: Net income 2,043.7 1,841.2 1,803.1 1,813.3 1,870.5 2,224.9 Adjustments to reconcile net income and cash and cash - equivalents provided by operating activities: - Depreciation and amortization 473.5 2,063.6 4,624.3 6,109.5 5,941.8 2,813.4 Net book value of vehicles w ritten off (962.0) (1,748.3) (1,625.5) (1,435.2) (1,335.9) (969.9) Adjustment to the recoverable value of assets 153.3 344.6 134.6 0.1 Deferred income tax and social contribution 735.4 484.9 (243.8) (669.3) 883.6 251.1 Interest on loans, financing, debentures and sw aps of fixed rates 502.3 2,898.6 5,012.6 5,215.1 6,049.1 3,000.7 Lease interest 61.8 76.3 107.5 133.5 150.1 76.8 Gain from divestiture in subsidiaries - - - - - (311.7) Others 73.8 18.7 637.1 831.9 933.8 454.8 - (Increase) decrease in assets: - Financial assets (3,188.2) (396.6) (4,103.9) 433.8 (1,056.2) 539.2 Trade receivable (248.1) (827.9) (1,368.6) (673.6) (386.5) (565.8) Revenue from the sale of decommissioned cars, net of taxes 5,308.0 7,833.6 13,875.6 19,185.0 22,183.2 14,317.4 Purchases of cars (see supplemental disclosure below ) (7,366.9) (18,621.0) (23,362.4) (25,211.7) (26,951.4) (17,535.6) Escrow deposits (8.1) (6.8) (32.4) 29.2 2.6 (0.1) Taxes recoverable (266.9) (187.7) (310.3) 133.1 (337.1) (325.1) Prepaid expenses (11.6) 92.2 (24.3) 21.4 (8.1) (354.8) Other assets 85.1 (475.4) (260.6) (116.7) 72.1 (179.1) Increase (decrease) in liabilities: Accounts payable (except car manufacturers) 109.3 230.9 116.4 58.2 7.9 (5.4) Social and labor obligations 57.7 (18.0) (170.0) (234.0) (267.1) (53.1) Income tax and social contribution 124.0 92.8 314.9 722.6 443.8 334.3 Insurance premium (93.2) 50.9 36.6 18.2 (19.7) (5.1) Other liabilities (71.3) 271.8 (82.4) (175.1) (130.3) (56.5) Cash provided by (used in) operating activities (2,641.7) (6,326.2) (4,902.8) 6,533.8 8,180.8 3,650.5 Income tax and social contribution paid (307.1) (83.4) (130.2) (487.5) (477.3) (60.9) Interest on loans, financing and debentures paid (372.9) (2,349.3) (4,804.4) (5,295.0) (5,434.5) (3,083.1) Payment of interest on credit assignment by suppliers (6.2) (9.9) (19.1) (14.8) (4.6) Lease interest paid (49.7) (61.5) (71.9) (81.9) (107.7) (69.4) Net cash provided by (used in) operating activities (3,371.4) (8,826.6) (9,919.2) 650.3 2,146.5 432.5 CASH FLOWS FROM INVESTING ACTIVITIES: (Investments) w ithdraw in marketable securities - - - - - - Acquisition of investment, goodw ill and fair value surplus (3.6) (11.5) (4.2) (8.0) (1.4) (14.7) Additions to property and equipment and intangible, net (143.4) (352.8) (387.4) (445.0) (435.4) (319.0) Acquisition of vehicles for resale (86.3) Purchases of other property and equipment and addition of intangible assets 1,752.5 Amount received for the sale of investment 581.0 0.9 - 172.9 Cash received on sale of asset held for sale 3,220.5 Net cash provided by (used in) investing activities (147.0) 4,522.4 189.4 (452.1) (436.8) (160.8) CASH FLOWS FROM FINANCING ACTIVITIES: Loans and financings: Proceeds 3,098.0 1,289.4 5,981.7 4,645.1 2,507.2 2,188.7 Repayment (1,395.8) (820.2) (3,899.5) (7,353.9) (2,772.2) (1,854.2) Debentures - - Proceeds 498.1 9,051.2 6,454.0 10,867.0 9,183.7 3,037.5 Repayment (383.1) (728.6) (1,408.5) (4,680.3) (10,388.1) (2,268.3) Lease liability: - - Repayment (144.0) (187.3) (249.3) (284.3) (301.3) (145.4) Capital payment - w ith subscription of shares 116.2 4,943.1 353.9 - - Payment of suppliers' assignment of credit rights (1,649.8) - - Amortization of assignment of credit rights (142.0) (86.6) (37.7) (8.1) Other comprehensive results (0.3) - - Mutual w ith third parties (270.0) - - Treasury shares (acquired)/ sold 4.4 4.6 (314.7) (795.6) - - Expenses w ith issuance of shares. - - - - - - Exercise of stock options w ith treasury shares, net (1.3) 2.5 (5.1) (3.3) - - Dividends paid (18.1) (631.2) - - - Interest on ow n capital (282.1) (725.9) (1,134.6) (1,294.4) (1,755.6) (1,115.5) Net cash provided by (used in) financing activities 1,376.1 5,450.6 10,225.1 1,367.6 (3,564.0) (165.3) Exchange Rate Variation on Cash and Cash Equivalents 1.9 1.3 (0.8) NET CASH FLOW PROVIDED (USED) IN THE YEAR (2,142.3) 1,146.4 495.3 1,567.7 (1,853.0) 105.6 CASH AND EQUIVALENTS: At the begining of the period 2,586.4 444.1 1,505.6 2,000.9 3,568.6 1,705.4 At the end of the period 444.1 1,505.6 2,000.9 3,568.6 1,705.4 1,799.1 At the end of the period - held for sale 84.9 (10.2) (11.9) INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (2,142.3) 1,146.4 495.3 1,567.7 (1,853.0) 105.6 Supplemental disclosure of cash flow information: - - - - - Cash paid during the period for cars acquisition Cars acquisition in the year/period - renew al (6,366.9) (9,317.0) (19,817.7) (21,677.1) (26,318.5) (17,752.1) Cars acquisition in the year/period - grow th (1,289.0) (13,222.0) (6,132.0) (4,620.2) - (1,813.2) - - - - - Suppliers - automakers: Balance at the end of the year 1,707.4 5,625.3 8,212.6 9,298.2 8,665.3 10,695.0 Balance at the beginning of the year (1,418.4) (1,707.4) (5,625.3) (8,212.6) (9,298.2) (8,665.3) Cash paid for cars purchased (7,366.9) (18,621.0) (23,362.4) (25,211.7) (26,951.4) (17,535.6)
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30 • Adjustment to present value: Adjustment do present value of the financial investment contracted in the business combination of Companhia de Locação das Américas. • Adjustment to recoverable value: Adjustment to the recoverable value of assets based on the review of estimates of the realizable selling price • Adjusted Results: Refers to the adjusted result of expenses specifically related to the integration process with Locamerica and the carve-out of the Car Rental and Seminovos assets that were sold. • Average Rented Fleet: In the Car Rental division it is the number of daily rentals in the period divided by the number of days in the period. In the Fleet Rental is the actual number of cars rented. • Business combination one-offs: refers to expenses specifically related to the integration process with Locamerica and the carve- out of the Car Rental and Seminovos assets that were sold. • CAGR: Compounded annual growth rate. • CAPEX: Capital expenditure. • Carrying Cost of Cash: Consists of the cost to maintain minimum cash position. This is the difference between the average rate of fundraising and the average rate of investment. • Car depreciation: Depreciation is calculated based on the expectation of the future sale price net of the selling expenses. The amount to be depreciated is the positive difference between the acquisition price of the vehicle and its estimated residual v alue. Depreciation i s calculated as long as the assets’ estimated residual value does not exceed its accounting value. Depreciation is recognized during the estimated life cycle of each asset. In the Car Rental and Fleet Rental divisions, depreciation method u sed is linear. The residual value is the estimated sale price net of the estimated selling expen se. • Depreciated cost of pre -owned cars sales (book value): Consists of the acquisition value of vehicles, depreciated up to the date of sale. • EBITDA: is the net income of the period, added by the income tax, net financial expenses, depreciation, amortization, and exhaustions, as defined by CVM instruction 156/22. • EBITDA Margin: EBITDA divided by the net revenues. • EBIT: is the net income of the period added by the income tax and net financial expense. • EBIT Margin: EBIT divided by the rental net revenue. • GF: refers to the Fleet Rental division. • IFRS 16: As of January 1, 2019, all companies had to adapt to the new rules of IFRS 16. Lessees now have to recognize the assets of the rights over leased assets and the liabilities of future payments for medium or long -term leases, including operating leases. The major impact we had was on the real estate lease agreements of our locations and stores. • LTM: Last twelve months. • MTM: Mark-to-market of debt and swaps. • Net debt: Short and long-term debts +/- the results from the swap operations, net of the cash, cash equivalents and short -term financial investments. The “net debt” term is a Company’s measure and cannot be compared with similar terms used by other companies. • Net Investment in cars: Capital investment in cars acquisition, net of the revenues from selling decommissioned cars. • Operating Fleet: Includes the cars in the fleet from the licensing until they become available for sale. • Proforma Results: It refers to the historical result prepared in a proforma manner to simulate a scenario in which Localiza and Locamerica were already combined and reporting their results on a consolidated basis since 01/01/21, using the same accountin g criteria. • RAC: refers to the Car Rental division. • ROIC: Return on invested capital. • Royalties: Amount calculated on the amounts charged in the rental contracts, for the use of the brand and transfer of know-how, in addition to the fees related to the marketing campaigns conducted by Localiza Franchising • Swap: financial transactions carried out made to protect risks associated with FX and basic interest rate variation. • Utilization Rate: it is the number of rental days of the period divided by the fleet available for rental multiplied by the number of days of the period and therefore, it does not include cars being prepared or being decommissioned. 2 3 – Glossary and other information
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31 Data: Friday, August 7, 2026. English (with simultaneous translation into Portuguese) 11am (BRT) | 10am (EDT) | 3pm (BST) Registration link: Here Replay available at ri.localiza.com after the event. To access the results, please visit Results Center. For further investor relations information, please visit the investor relations section of the website at ri.localiza.com. Contact: (31) ) 98118-9860 ri.localiza.com Information for the press: InPress Porter Novelli: Ana Rachid - ana.rachid@inpresspni.com.br 31 99199-2209 This release contains summarized information, with no intention of being complete and must not be considered by shareholders or potential investors as an investment recommendation. Information on Localiza, its activities, its economic and financial situation and the inherent risks associated with its business, as well as its financial statements, can be obtained from Localiza’s website (ri.localiza.com). 24 – 2 Q2 6 Webinar