Glossary

ABLA: Brazilian Association of Car Rental Companies (Associação Brasileira das Locadoras de Automóveis).

Adjusted EBITDA: is the net income before net financial expenses, depreciation and amortization expenses, together with the results of the sale of used vehicles. Unidas’ Adjusted EBITDA is used by the Company to measure its performance.

Anfavea: National Association of Automobile Factories (Associação Nacional dos Fabricantes de Veículos Automotores)

ARAC: Portuguese Car Rental Association (Associação dos Industriais de Aluguer de Automóveis sem Condutor), an association that gathers car rental companies acting in Portugal.

Bovespa: São Paulo Stock Exchange (Bolsa de Valores de São Paulo).

CAGR: Compound Annual Growth Rate.

CCB: Bank Credit Certificate.

CDI: Certificate of Interbank Deposit.

Company or Unidas: Refers to Unidas S.A..

Corporate Fleet Rental: long-term vehicle rentals (at least 12 months) to corporate clients.

CVM: the Brazilian Securities Commission (Comissão de Valores Mobiliários).

Debentures: Debentures-purpose of the public distributions made due to the Offering.

IBGC: Brazilian Institute of Corporate Governance (Instituto Brasileiro de Governança Corporativa)

Sindipeças: National Association for the Industry of Automobile Parts (Sindicato Nacional da Indústria de Componentes para Veículos Automotores).

Unidas Relationship Center: structure where, by means of telephone service and information systems, Unidas’ representatives access its network of outsourced service providers and indicate to the client the most convenient servicing site, taking into account the region of the country where the client is located.