Covenants
| UNIDAS | 2013 | 2014 | 2015 | 2016 | 2017* | 1H18** |
| Net Debt / Recurrent EBITDA | 3.08x | 3.35x | 2.85x | 2.52x | 2.51x | 3.06x |
| Recurring EBITDA / Net Financial Expenses | 2.41x | 2.34x | 2.19x | 2.17x | 2.68x | 2.83x |
| DNet Debt / Shareholders’ Equity | 1.65x | 2.18x | 1.95x | 2.09x | 2.14x | 1.98x |
| Net Debt / Accounting Fleet Value | 62.6% | 69.3% | 59.8% | 66.3% | 63.1% | 65.3% |
* Values referred to 2017 consider the consolidated results of Locamerica and Auto Ricci S.A..
** Values referred to 2018 consider the consolidated results of Locamerica and Unidas S.A..
| UNIDAS S.A. | 2013 | 2014 | 2015 | 2016 | 2017 | 1H18 |
| Net Debt / Recurrent EBITDA | 2.21x | 2.16x | 2.21x | 2.40x | 3.13x | 2.87x |
| Recurring EBITDA / Net Financial Expenses | 4.13x | 3.46x | 2.87x | 2.38x | 2.50x | 3.05x |
| Net Debt / Shareholders’ Equity | 0.93x | 0.99x | 1.02x | 1.17x | 1.58x | 1.70x |