Movida Participações S A : 4Q23 Results Presentation

Disclaimer

This material has been prepared by MOVIDA and may contain forward-looking statements regarding future events or results. Such information reflects the beliefs and assumptions of the Company's management and is based on currently available information. Forward-looking statements are subject to, among other things, market conditions, government regulations, industry performance and the Brazilian economy. Operating data may affect MOVIDA's future performance and may lead to results that are materially different from those expressed in such forward-looking statements.

This presentation is summarized and does not purport to be complete. The Company's shareholders and potential investors must read this presentation in conjunction with the Quarterly Information.

Movida consolidated 2023

Evolution with significant increase in GTF margin and operational improvements with productivity gains in RAC

Fleet Management

Rent-a-Car

Used car sales

Net Revenue

Net revenue

Net revenue

R$ 2.3 bn+32.7%

R$ 2.8 bn+10.1%

R$5.2 bn+4.3%

Adj. EBITDA

R$ 1.7 bn+38.1%¹

Total fleet 131 kAdj. EBITDA

+16.4%

R$ 1.6 bn+6.6%¹

Total fleet 113 k+1.4%

Adj. EBITDA margin

5.1%

Cars sold 76 k

-7.9 p.p.¹

+5.2%

Adj. EBITDA margin

Total occupancy rate²

72.1%

70.0%

+2.8 p.p¹

+7.0 p.p.

¹Considers EBITDA without excess PIS/COFINS credit in 2022 for purposes of comparable bases and disregards non-recurring effects realized in 4Q23 ²Rented Fleet/Total Fleet (daily average)

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Consolidated

Variations 2023 vs 2022

Total net revenueRental net revenueRental adj. EBITDATotal adj. EBITDA

Total fleet (end of period)

R$ 10.3 bn+11.2%

R$5.1 bn+19.4%

R$3.3 bn+20.7%¹

R$ 3.5 bn+5.1%¹

244 k+8.9%

Strategic priorities and deliverables for 2023

Agility in executing strategic planning with a focus on gaining efficiency and productivity to generate value

Increased productivity of invested capital and fleet efficiency

Debt cost reduction

Improvement in the debt profile | Financial management

¹Rented Fleet/Total Fleet (daily average); ²Yield calculated by dividing the monthly revenue per operational car by the average fleet acquisition ticket in RAC

New funding made in 2023

• • Total value of funding: R$3.0 billion (CDI + 1.9% p.a)

Leverage 3.1x (net debt/EBITDA)

Solid capital structure for sustainable development plan without the need for additional capital

Residual value of RAC fleet by purchase cycle

Improvement in the purchasing mix, commercial conditions with automakers and adequacy of fixed assets reflect a new average depreciation rate of ~8% p.a. from 1Q24

Normalization of the RAC fleet's depreciation rate stabilizes margins and enables better reading of the segment's profitability

¹Operational fleet and end-of-period stock.

Consolidated results

Rental EBITDA of R$3.3 billion showed growth of 20.7% and surpassed the rental revenue expansion of 19.4%

Net Revenue (R$ million)

10,342

9,300

1,404

2,627

1,222

2,493

1,154

1,340

4Q22

5000,0

4500,0

4000,0

3500,0

5,017

3000,0

2500,0

2000,0

1500,0

1000,0

500,0

-

4,283

5,232

5,110

4Q23

Net Revenue from Rentals

2022

Used Car Sales Net Revenue

Adjusted EBIT (R$ million)

Increase in the annual depreciation rate of ~6% p.a. to ~8% p.a.

477

90

387

4Q22

2,214

2023

372 22

53%

from GTF

1,814

594

350

4Q23

EBIT from Rentals

1,621

2022

EBIT from Used Car Sales

196

1,618

2023

66%

from GTF

(1) Variations considers EBITDA and EBIT from 2022 without surplus PIS/COFINS credit and from 2023 excludes non-recurring effects

858888

12%

Adjusted EBITDA (R$ million)

3,349

88%

106

753

96%

41

847

4%

4Q22

Adjusted Rental EBITDA Margin (%)

61.6%

4QT22

4Q23

EBITDA Rentals

63.3%

4Q4T2233

• 19%651

• 81%2,698

Used car sales EBITDA

63.0%

2022

Rental EBITDA Margin

3,522 265

3,256

2022

2023

63.7%

8%

92%

2023

Reconciliation of adjusted net income

(in R$ million)

Non-recurring effects:

Adjustment in the residual value of the RAC fleet based on the purchase fleet with the highest average ticket and worst purchase conditions

• (1) Amortization of the goodwill parcel attributed to added value from companies acquired (due to previous periods)

• (2) Write-off of deferred income tax on incorporations with reduced tax burden in the coming periods

Non-recurring events related to store closures, staff reductions, strategic planning consultancy

Effect of early debt settlement on financial resultsIR (income tax) of non-recurring items

Normalization of the RAC depreciation rate around 8% p.a. since 1Q24

Simplification of the corporate structure with a reduction in the fiscal tax of

R$ 32 million per year

(cash effect)

Reduction of costs and expenses

(operational and financial) and implementation of new pricing and asset turnover tools

Priorities 2024

Generation of value for shareholders will be through price increases in RAC, productivity gains in Used Cars Sales and greater capital allocation in GTF

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¹Yield calculated by dividing the monthly revenue per operational car by the average fleet acquisition ticket in RAC;. ²The content of this slide reflects a simulation exercise based on information already public and disclosed by the company. This information does not reflect the formalization of the Company's official guidance or projection.

Preview of the 1º bimester of 2024 (unaudited)

Reversal of the loss into profit shows that assertive initiatives conducted throughout 2023 have already started to reflect positively on the results

1°bimester 2024

1°bimester 2023

Variation %

OBS: Previews results non-audited ¹ Does not consider RAC operation in Portugal

Inflection point for value generation

ROIC of the 1st bim/24 higher than the debt cost and projects a sustainable ROIC spread after the implementation of ongoing actions

Evolution of ROIC

Implementation improvements:

• 1) RAC price increase

• 2) Greater productivity in

Used Cars

3) More capital allocation in GTF

2200222*

2023

1° Bimester of 1°Bim24 2024

ROIC with all the improvements in ROIC com todas as melhorias em implementation implantação

Cost of debt SELIC rate

CDI + 3.2% p.a.

CDI + 2.2% p.a.

CDI + 2.2% p.a.

CDI + 2.2% p.a.

13.75%

11.75%

11.25%

10.25%

RReetoturnrno osonbirneveosCteadpictapl iItnavle(sRtOidICo)(ROIC)

CAuvsteoramgeédpiosdt-etadxívciodsatsopfódseibmtpostos

*Does not consider a non-recurring effect on the Used Car margin. ROIC calculation considers an income tax rate of 34%.

The content of this slide reflects a simulation exercise based on information already public and disclosed by the company. This information does not reflect the formalization of the Company's official guidance or projection.

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