Localiza Rent a Car S.A. (BOVESPA:RENT3) signed an agreement to acquire Companhia de Locação das Américas (BOVESPA:LCAM3) for BRL 11.7 billion on September 22, 2020. Pursuant to the terms of the acquisition, Localiza Rent a Car S.A., will issue its 0.45 shares for every Companhia de Locação das Américas share. On June 29, 2022, exchange ratio has been changed to 0.43884446 for the transaction. As a result of the acquisition, Localiza Rent a Car S.A., will receive approximately 76.85% of the combined company whereas Companhia de Locação das Américas would hold the remaining 23.15% stake. Termination fee to be paid by defaulting party will be BRL 500 million. Vote agreement has been executed between both founding shareholders to appoint board members in the Combined Company. The Founding Shareholders of Unidas and the Founding Shareholders of Localiza agreed, for the first term immediately after the Closing Date, to exercise their voting rights so that the Board of Directors of the Combined Company be composed of six individuals appointed by the Founding Shareholders of Localiza and two individuals appointed by the Founding Shareholders of Unidas. Finally, with the consummation of the Business Combination, (i) the resignation of the members of Unidas' Board of Directors, according to the resignation letters presented to the company on June 27, 2022, conditioned to the closing of the Business Combination; and (ii) the election of Luis Fernando Memoria Porto and Sérgio Augusto Guerra de Resende to the positions of members of the Company's Board of Directors also, as approved at the extraordinary general meeting held on June 27, 2022. Luis Fernando Memoria Porto will serve as Vice-Chairman of the Company's Board of Directors, as approved at Localiza's Board of Directors meeting held on this date. The transaction is subject to obtaining the approval of the shareholders of both Localiza Rent a Car S.A., and Companhia de Locação das Américas and the Administrative Council for Economic Defense (Cade), as well as the verification of other certain conditions precedent usual for operations of this nature. As of October 9, 2020, Localiza Rent a Car board approved the transaction. The shareholders of Unidas and Localiza approved the transaction on November 12, 2020. As on December 16, 2021, Administrative Council for Economic Defense approved the transaction. Transaction is expected to close on July 1, 2022.

Bank of America Merrill Lynch Banco Múltiplo S.A., acted as exclusive financial advisor, whereas Carlos Alberto Moreira Lima and Henrique Gordo Lang of Pinheiro Neto Advogados acted as legal advisors to Localiza Rent a Car S.A. Banco Itaú BBA S.A., acted as financial advisor, while Mauro Cesar Leschziner, Diana Pacifico Henne, Tito Amaral de Andrade, Maria Eugênia Novis, Fernando Tonanni, Clarissa Torrente, Bruna Marrara Martinez, Eliana Helena de Gregório Ambrósio Chimenti and Clarissa Freitas of Machado, Meyer, Sendacz e Opice acted as legal advisors to Companhia de Locação das Américas.