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|Companhia de Locação das Américas "Locamerica"||54,540,394||100.0%|
(1) All shares held by the Principal - Gestão de Activos e Consultoria Administrativa e Financeira S.A. - are pledged in favor of Banco BPI S.A., Banco Comercial Português S.A., Banco Espírito Santo S.A., and Caixa Geral de Depósitos S.A. under the "Stock Pledge Agreement", a private instrument dated December 28, 2010.