Localiza Flex

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Localiza Rent A Car S.A. (“Localiza” or the “Company”), is a Brazilian publicly listed company, which operates a light and commercial vehicle rental network in South America. As of 2022, the Company has 331,455 vehicles for rent across 517 locations in Brazil and 172 franchise locations in Brazil and South America. In addition, its fleet rental business has 259,616 vehicles. Localiza is also a car buyer and seller in Brazil of cars that have been in operation for a maximum of two to three years with 186 sales locations. As of 4Q 2022, Localiza has over 15 million clients. In addition to the car rental and sales locations, the Company operates a 26-story headquarters building in the city of Belo Horizonte, as well as a nearby separate office focused on technology, which is due to open in early 2023. A second corporate office is located in the city of Sao Paulo. Used cars are repaired and renovated at dedicated reconditioning centres located around the country. The Project consists of an up to US$200 million unsecured senior loan to support the Company’s capex plan in Brazil, which consists of purchasing more efficient flex-fuel vehicles (ethanol-based) to renew and expand its existing fleet, improving emissions performance (the “Project”).