Movida Participações S A : Demonstrações Financeiras em Padrões Internacionais - Versão em Inglês

QUARTERLY

FINANCIAL

INFORMATION 1Q22

(A free translation of the original in Portuguese)
QUARTERLY FINANCIAL INFORMATION 1Q22
Contents
Management Report ..........................................................................................................................................	3
Statements of financial position .......................................................................................................................	27
Statements of income .....................................................................................................................................	28
Statements of comprehensive income ............................................................................................................	29
Statements of changes in equity .....................................................................................................................	30
Statement of cash flows - indirect method.......................................................................................................	31
Statement of value added................................................................................................................................	32
Notes to the quarterly information…………………………………………….......................................................33
Independent auditor's report on the individual and consolidated quarterly information ..................................	84
Monitoring of projections and estimates disclosed by the Company ..............................................................	86
Statement of the Statutory Audit Committee ...................................................................................................	87
Statement of the Executive Board on the individual and consolidated quarterly information .........................	88
Statement of the Executive Board on the Independent Auditor's Report ........................................................	89

1Q22 Earnings

Release

QUARTERLY REVENUE EXCEED R$2 BILLION FOR THE FIRST TIME;

NET INCOME INCREASES BY 136% TO R$258 MILLION; 191,942 CARS IN THE FLEET, 57% MORE THAN IN 1Q21

General Highlights

Gross revenue exceeds R$2.0 billion in 1Q22, an all-time high in a first quarter, with a YoY growth of 138.5%;

Net revenue from car rental totals R$992.0 million in 1Q22, a YoY growth of 87.1%;

Total fleet reached 191,942 cars in 1Q22, a YoY growth of 56.5%;

EBITDA of R$863.1 million in 1Q22, R$658.7 million of which from car rental;

Net income of R$258.1 million in 1Q22, 135.7% higher than in 1Q21, with a net margin of 13.1%;

Fourth consecutive quarter with records returns: ROIC of 16.4% and ROE of 34.6% in 1Q22;

Approval of US$160 million in a line of credit with the Inter-American Development Bank (IDB), which carries an ESG seal (Environmental, Social, and Governance), with part of the amount made available as a Green Loan ("Green Loan") to finance projects related to the sustainable agenda, which are detailed in the 2021 Integrated Reportingpublished on April 11, 2022.

Highlights per Business Unit

RAC: Daily rental of R$127.5 in 1Q22 - a YoY growth of 56.0%, with resilient demand, focus on the individual's segment and a new car mix;

GTF: Net revenue totals R$397 million in 1Q22 - a YoY growth of 140.4% and an EBITDA margin of 71.8%, 11.6 p.p. more than in 1Q21;

Used Car Sales:15,225 cars sold in 1Q21. Average ticket of R$64,467 in 1Q22, 24.2% higher than in 1Q21, and a growth of 4.7 p.p. in gross margin (+26.6%).

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MESSAGE FROM MANAGEMENT

Once again, 1Q22 results show the disciplined execution of Movida's strategic plan, which is client centric. We established a new level of sustainable results. We presented all-time high growth and profitabilty reinforcing the execution of a new expansion cycle.

We have added nearly 5,000 cars since the end of 2021, totaling a fleet of 191,942 cars - the youngest of the sector, with an average age of 14 months. YoY, the number of cars increased by 69,334 and the gross revenue grew by 139%. For the first time, our revenue exceeded R$2 billion in a single quarter. Our EBITDA totaled R$863 million in 1Q22, with a margin of 44%, a YoY growth of 6 p.p. The net income came to R$258 million, up by 136% YoY, with a margin of 13%. We have been reporting sequential QoQ record returns for one year. LTM ROIC reached 16.4% and LTM ROE came to 34.6% in 1Q22.

The Brazilian Association of Car Rental Companies (ABLA) data prove our leadership in gaining market share among listed companies in 2021, and we were the only company to gain share in the RAC market. We have significantly strengthened our partnerships with automakers and were able to purchase 21,202 cars in 1Q22 at an average price of R$90,436, accounting for 6.5% of the industry's total sales in the quarter, according to ANFAVEA data.

In the Rent-a-Car (RAC) segment, we closed 1Q22 with 96,572 cars in the fleet and, thanks to our discipline and intersegment allocation, we exceeded R$128 reais of average daily rate. For that, we combined the growth of 41.6% in the volume of daily rentals and an occupancy rate of more than 75% in the quarter, proving that demand remains strong and adherent to our mix. We continue with effective management of expenses, and our EBITDA margin reached 63%, a new profitability level.

In the Fleet Management and Outsourcing (GTF) segment, we closed the quarter with 95,370 cars, which accounted for 50% of the Company's fleet, providing future results with more stability. The segment's gross revenue grew by 140% YoY, due to inorganic changes, such as the absorption of CS Frotas - the leader in the state-owned companies and mixed economy organizations sector -, and the acquisitions of Vox, and Marbor - the latter concluded on April 4, 2022 -, in addition to the organic growth, mainly in Movida ZeroKm. This long-term product for individuals remains our major focus of expansion, making us even more thrilled about every indicator that reinforces its potential return on invested capital. The EBITDA margin of the GTF segment was 72% in 1Q22, a YoY growth of more than 12 p.p.

The Used Cars Sales result remains strong despite the more challenging scenario. We sold 15,225 cars in 1Q22, a number nearly 3x higher than in 1Q21, with the average ticket growing by 24%. The EBITDA margin was 21% in 1Q21, the third quarter that margins exceeded 20%. Similar to the last recent quarters, we know that these margins are a temporary effect of restricted supply and continue closely following the regularization of the supply chains of the automobile industry and the impact of new macroeconomic factors this quarter, such as the war in Ukraine and public policies to face COVID-19 in Asia.

We have also increased the number of stores, reaching 185 stores in the RAC segment, from 4Q21 to 1Q22 we implemented nine stores in cities with great market potential, with increasingly digital services, such as Web Check-in, payment via PIX, and contract opening and closing via tablet. In the

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Used Cars Sales segment, we opened three new stores in 1Q22, totaling 81 stores in the segment in various locations of Brazil to be closer to customers and provide them with fast, closeness, and new experiences through digital channels or at the stores.

Our Fleet Maintenance and Supplier Management System was recently awarded at iF Design Award 2022. We were recognized in the category Service Design for Transportation/Logistics of such a renowned award that has been held in Germany since 1953, and which received 10,776 registrations from 49 countries in the 2022 edition.

Present cash and cash equivalents of R$4.6 billion¹, already considering the R$1.0 billion in debentures we raised with costs and terms in line with the Company's average - issued in early April. Besides that, we had the approval of US$160 million in a line of credit with the Inter-American Development Bank (IDB), which carries an important ESG (Environmental, Social, and Governance) seal, with part of the amount made available as a Green Loan ("Green Loan") to finance projects related to the sustainable agenda. These initiatives are detailed in the 2021 Integrated Reporting published on April 11, 2022 - I invite you to read it by clicking on this link.

Our ESG projects and priorities are based on the adoption of the principle of materiality, as recommended by the Framework and the Global Reporting Initiative Standards, as well as by the AA1000 Standard. The idea is to enable communication and management based on the point of view of the internal and external public - including employees, senior management, customers, suppliers, etc. - on the impacts and the Company's value creation process. This will also make us even more prepared for the renewal of our certification as a B Company.

We are thrilled with the resumption of in-person events, such as WTM Latin America, one of the main B2B travel and tourism events in our continent. We also resumed our sponsorship in several other events, such as ArtSampa at OCA, which brought several exhibitors with innovative and original projects designed exclusively for the fair.

We have revamped the Company and are currently the company that grows the most in the sector, and, even more importantly, the company that grew the most in terms of profitability. Annualized gross revenue and net income totaled R$8 billion and R$1 billion, respectively, in 1Q22. All of that is just the beginning of what is still to come this year and makes us even more confident about our positioning. The fundamentals of our market are growing stronger with time. We thank all of our employees, suppliers, creditors, investors, and other public for their continuous support. As always, we are positive that the best is yet to come!

Thank you very much! Sincerely,

Renato Franklin

CEO

1Caixa cash and cash equivalents exclude the balance of 4131

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