Covenants
| Unidas (Cia. de Locação das Américas) | 2016 | 2017¹ | 2018² | 2019 | 2020 | 2021 | 1Q22 |
| Net Debt / Fleet Value | 66.3% | 63.1% | 37.4% | 39.8% | 40.7% | 57.1% | 61.3% |
| Net Debt / Annualized Recurring EBITDA | 2.52x | 2.51x | 3.04x | 2.19x | 2.66x | 2.48x | 2.80x |
| Net Debt / Equity | 2.05x | 2.09x | 0.79x | 0.74x | 0.90x | 1.56x | 1.72x |
| Recurring LTM EBITDA / LTM Net Financial Expenses | 2.17x | 2.68x | 3.04x | 3.48x | 4.64x | 4.34x | 4.43x |
¹ Values referred to 2017 consider the consolidated results of Locamerica and Auto Ricci S.A..
² Values referred to 2018 consider the consolidated results of Locamerica and Unidas S.A..
| Unidas S.A. | 2016 | 2017 | 2018 | 2019 |
| Net Debt / Recurrent EBITDA | 2.40x | 3.13x | 2.85x | 3.10x |
| Recurring EBITDA / Net Financial Expenses | 2.38x | 2.50x | 3.31x | 3.50x |
| Net Debt / Shareholders’ Equity | 1.17x | 1.58x | 1.92x | 1.70x |