QUARTERLY

FINANCIAL
INFORMATION 1Q22

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QUARTERLY FINANCIAL INFORMATION 1Q22

Contents

Management Report .......................................................................................................................................... 3

Statements of financial position ....................................................................................................................... 28
Demonstrações dos resultados ....................................................................................................................... 29
Demonstrações dos resultados abrangentes .................................................................................................. 30
Statements of changes in equity ..................................................................................................................... 31
Statement of cash flows - indirect method....................................................................................................... 32
Statement of value added ................................................................................................................................ 33
Explanatory notes to the individual and consolidated financial statements.....................................................34
Statement of the Supervisory Board ................................................................................................................ 86
Independent auditor’s report on the individual and consolidated quarterly information ................................. 87
Statement of the Executive Board on the individual and consolidated quarterly information ......................... 88
 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 Reporting published 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%).
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
2
 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 <IR> 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

3
MAIN INDICATORS

Chg. 1Q22 x Chg. 1Q22 x

Financial Highlights (R$ million) 1Q21 4Q21 1Q22
1Q21 4Q21
Gross Revenue 876.3 1,855.1 2,090.1 138.5% 12.7%
Net Revenue 804.9 1,741.0 1,965.8 144.2% 12.9%
Net Revenue from Rentals 530.3 931.9 992.0 87.1% 6.4%
Net Revenue from the Sale of Assets 274.5 809.1 973.8 254.8% 20.4%
EBITDA 304.5 776.6 863.1 183.4% 11.1%
EBITDA Margin¹ 57.4% 83.3% 87.0% +29.6 p.p +3.7 p.p
EBITDA Margin² 37.8% 44.6% 43.9% +6.1 p.p -0.7 p.p
EBIT 242.3 606.2 650.3 168.4% 7.3%
EBIT Margin¹ 45.7% 65.0% 65.6% +19.9 p.p +0.5 p.p
EBIT Margin² 30.1% 34.8% 33.1% +3.0 p.p -1.7 p.p
Net Income 109.5 276.7 258.1 135.7% -6.7%
Net Margin¹ 20.6% 29.7% 26.0% +5.4 p.p -3.7 p.p
Net Margin² 13.6% 15.9% 13.1% -0.5 p.p -2.8 p.p
ROIC LTM 8.4% 15.3% 16.4% +7.9 p.p +1.1 p.p
ROE LTM 12.3% 29.0% 34.6% +22.4 p.p +5.6 p.p
Spread ROIC vs Cost of Debt +5.6 p.p +10.2 p.p +9.9 p.p +4.3 p.p -0.3 p.p
¹ On Net Revenue from Rentals
² On Total Net Revenue

Chg. 1Q22 x Chg. 1Q22 x

Operational Highlights 1Q21 4Q21 1Q22
1Q21 4Q21
Total fleet - end of period 122,608 186,974 191,942 56.5% 2.7%
Total fleet - end of period - RAC 70,213 90,671 96,572 37.5% 6.5%
Total fleet - end of period - GTF 52,395 96,303 95,370 82.0% -1.0%
Number of RAC Service Points 195 207 216 10.8% 4.3%
Number of Used Cars Stores 70 78 81 15.7% 3.8%
Number of daily rentals - RAC (in thousands) 5,067 5,281 5,225 3.1% -1.1%
Number of daily rentals - GTF (in thousands) 3,862 7,351 7,657 98.3% 4.2%
Gross average monthly revenue per
2,131 2,960 2,949 38.4% -0.4%
operational average fleet - RAC (R$)
Net average monthly revenue per operational
1,231 1,555 1,557 26.4% 0.1%
average fleet - GTF (R$)
Number of Cars Sold 5,356 12,472 15,225 184.3% 22.1%

4
 1. Rent-a-Car (RAC)

1.a. Net Revenue

Chg. 1Q22 x Chg. 1Q22 x

(R$ million) 1Q21 4Q21 1Q22
1Q21 4Q21
Gross Revenue 414.2 626.4 666.1 60.8% 6.3%
Deductions (49.1) (67.3) (71.4) 45.4% 6.1%
Net Revenue 365.1 559.2 594.7 62.9% 6.3%

Net revenue from RAC totaled R$594.7 million in 1Q22, up by R$35.5 million (+6.3%) over 4Q21,
and by R$229.6 million (+62.9%) over 1Q21, mainly due to i) the increase in the average daily
rental per car, which reached R$127.5 in 1Q22, up by 56.0% over 1Q21; and ii) the increase of
the fleet and daily rental volumes.

The monthly gross revenue per car came to R$2,949 in 1Q22, up by 38.4% over 1Q21, reflecting
the price increase initiatives.

OCCUPANCY RATE VS. AVERAGE DAILY RENTAL

All-time high!
127.5
118.6
96.4
83.4 84.4 81.7 84.1
70.3
59.5

82.7% 84.4% 82.9%

79.3% 79.6% 80.8%
75.2% 76.1%
72.9%

1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22

Daily Rentals Average (R$) Occupancy Rate (%)

AVERAGE MONTHLY GROSS REVENUE PER CAR (R$) PER AVERAGE OPERATIONAL FLEET

2,960 2,949

2,453
2,268
2,131 2,034
1,893 1,804
1,348

1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22

5
 AVERAGE OPERATIONAL FLEET AND NUMBER OF DAILY RENTALS

4,420 4,330 4,823 5,067 4,618 5,143 5,281 5,225

3,462

67,381 70,538 75,286

64,924 59,811 64,796 63,654
50,952 56,269

1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22

Average Operational Fleet Number of Daily Rentals (thousand)

1.b. Costs and Depreciation

Chg. 1Q22 x Chg. 1Q22 x

(R$ million) 1Q21 4Q21 1Q22
1Q21 4Q21
Cost (132.1) (188.9) (203.9) 54.4% 7.9%
Cost Ex-depreciation (97.6) (103.0) (95.5) -2.2% -7.3%
Depreciation and Amortization (34.5) (85.9) (108.4) 214.2% 26.2%
Fleet Depreciation (13.6) (57.9) (77.3) 468.4% 33.5%
Depreciation (Other) (12.5) (19.0) (21.5) 72.0% 13.2%
Amortization of right of use (IFRS 16) (8.4) (9.0) (9.5) 13.1% 5.6%

RAC costs totaled R$203.9 million in 1Q22, with growths of R$71.8 million YoY (+54.4%), and
R$15.0 million QoQ (+7.9%).

Ex-depreciation costs totaled R$95.5 million in 1Q22, with decreases of R$2.1 million YoY
(-2.2%), and R$7.5 million QoQ (-7.3%).

Depreciation costs reached R$108.4 million in 1Q22, increases of R$73.9 million YoY
(+214.2%), and R$22.5 million QoQ (+26.2%). The higher depreciation costs in the quarter
were due to the increased number of cars purchased in the last few quarters, which were
depreciated at rates compared to the pre-pandemic periods for fleet renewal.

6
 MONTHLY COST (ex-depreciation) PER CAR (R$)
1.2% 1.2% 1.3%
1,400 1.0% 1.0%
0.9% 0.9% 1.1%
1,200 0.7% 0.9%
0.6%
1,000 0.5% 0.7%

800 0.5%
540 557 502 559 532 0.3%
600 450 455 487 423 0.1%
400
-0.1%
200 -0.3%
- -0.5%

1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22

Monthly cost (ex-depreciation) per car (R$) Cost/PP&E per car (%)
The calculation of the depreciation per car is based on the calculated depreciation amount and available-for-sale assets for the
RAC segment divided by the final fleet of the RAC segment of the period.

AVERAGE FLEET PER STORE

All time high!
403 388 379 394 401 407
333 354 367

333 333 323 336 345 356

301 312
269
199 202 207 216
195 184 190 194 195 176 185
161 153 159 163 167 168 171

1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22

Number of Stores Number of RAC Service Points Operational Fleet per Service Center Operational Fleet per Store

LTM DEPRECIATION PER CAR (R$) ANNUALIZED DEPRECIATION PER CAR1 (R$)

(3,424) (3,358) (6,000) 5.0%

5.1%
(2,581) (2,763) (2,548)
(5,000)
4.2% 4.6%
(2,125) (2,202) (4,000)
4.1%
(1,691)
(1,438) (3,000)
3.6%
(2,000) (4,108) 3.1%
(3,285)
(1,000) 2.6%
- 2.1%

1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 4Q21 1Q22

Annualized depreciation per car (R$/car)

Depreciation/PP&E per car (%)
1
The percentage of the fleet average car is calculated by dividing the annualized depreciation per car by the depreciation per
car. The calculation of the depreciation per car is based on the calculated depreciation amount and available-for-sale assets for
the RAC segment divided by the final fleet of the RAC segment of the period.

7
1.c. Operational Result

Chg. 1Q22 x Chg. 1Q22 x

(R$ million) 1Q21 4Q21 1Q22
1Q21 4Q21
Gross Profit 233.0 370.3 390.8 67.7% 5.5%
Gross Margin 63.8% 66.2% 65.7% +1.9 p.p -0.5 p.p
General and Administrative Expenses (98.8) (123.0) (125.8) 27.3% 2.3%
EBITDA 168.7 333.1 373.4 121.3% 12.1%
EBITDA Margin 46.2% 59.6% 62.8% +16.6 p.p +3.2 p.p
EBIT 134.2 247.2 265.0 97.5% 7.2%
EBIT Margin 36.8% 44.2% 44.6% +7.8 p.p +0.3 p.p

Gross profit totaled R$390.8 million in 1Q22, increases of R$157.8 million YoY (+67.7%), and
R$21.7 million QoQ (+5.5%). The gross margin reached 65.7%, a YoY growth of 1.9 p.p. The
performance of the operational result in the quarter was due to the YoY growth of 62.9% of
net revenue and the cost discipline.

Expenses totaled R$125.8 million in 1Q22, a YoY growth of R$27.0 million (+27.3%), mainly
due to sale commission expenses and credit card fees, included in the expenses with
outsourced services. QoQ, expenses remained virtually in line with 4Q21.

EBITDA reached R$373.4 million in 1Q22, increases of R$204.6 million YoY (+121.3%), and
R$41.4 million QoQ (+12.1%). The EBITDA margin came to 62.8%, growing by 3.2 p.p. and
16.6 p.p. over 4Q21 and 1Q21, respectively.

EBIT reached R$265.0 million in 1Q22, with growths of R$130.8 million YoY (+97.5%), and
R$17.7 million QoQ (+7.2%). The EBIT margin came to 44.6%, growing by 0.3 p.p. and 7.8 p.p.
over 4Q21 and 1Q21, respectively.

EBIT vs. AVERAGE MONTHLY EBITDA PER CAR (R$)

All-time high!

1,574 1,653

1,153
904 868
691 711 737
1,168 1,173
290 901
613 690
542
364
216
(83)
1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22
Average Monthly EBITDA per Average Operational Fleet (R$) Average Monthly EBIT per Average Operational Fleet (R$)

8
2. Fleet Management and Outsourcing (GTF)

2.a. Net Revenue

Chg. 1Q22 x Chg. 1Q22 x

(R$ million) 1Q21 4Q21 1Q22
1Q21 4Q21
Gross Revenue 184.2 412.7 442.5 140.2% 7.2%
Deductions (18.9) (40.0) (45.2) 139.2% 13.0%
Net Revenue 165.3 372.7 397.4 140.4% 6.6%

The net revenue from the GTF segment reached R$397.4 million in 1Q22, up by R$232.1
million (+140.4%) over 1Q21, mainly due to i) the absorption of CS Frotas in August 2021; ii)
the fleet growth led by a gain in private contracts and the expansion of Movida ZeroKm; and
iii) the 26.4% increase in the average ticket, following the transfer of interest and vehicle
prices for contract renewal and the fleet increase for new contracts, as already mentioned in
previous quarters.

QoQ, the net revenue from the GTF segment grew by R$24.6 million (+6.6%), mainly due to
new contracts, which have a backlog of R$2.1 billion, an amount that ensures growth for the
next few quarters.

AVERAGE AND TOTAL OPERATIONAL FLEET AT THE END OF THE PERIOD

96,303 95,370
88,379
16,405 10,287
20,344

52,395 55,776
47,244 5,847
40,889 39,673 40,731 7,659
7,974 79,898 85,083
6,302 6,693 7,220 68,035
44,736 49,929
34,587 32,980 33,511 39,270

1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22

Average Operational Fleet Fleet at the end of the period

AVERAGE MONTHLY NET REVENUE PER CAR (R$)

All-time high!
1,555 1,557
1,309 1,408
1,220 1,261 1,241 1,197 1,231

1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22

Monthly average ticket (R$)

9
 2.c. Costs and Depreciation

Chg. 1Q22 x Chg. 1Q22 x

(R$ million) 1Q21 4Q21 1Q22
1Q21 4Q21
Cost (59.2) (156.9) (162.2) 174.0% 3.4%
Cost Ex-depreciation (40.5) (83.4) (72.4) 78.8% -13.2%
Depreciation (18.7) (73.4) (89.8) 380.2% 22.3%
Fleet Depreciation (17.6) (71.7) (86.8) 393.2% 21.1%
Depreciation (Other) (1.1) (1.7) (3.0) 172.7% 76.5%

GTF costs totaled R$162.2 million in 1Q22, up by R$103.0 million (+174.0%), mainly due to
CS Frotas’ costs already fully incorporated in 1Q22, as of August 2021. QoQ, costs increased
by R$5.3 million (+3.4%), mainly due to depreciation.

Depreciation costs reached R$89.8 million in 1Q22, a growth of R$71.1 million (+380.2%),
mainly as a result of the absorption of CS Frotas and the addition of fleet to the portfolio of
Movida Zero Km, which has a higher value fleet mix. QoQ, depreciation costs increased by
R$16.4 million (+22.3%), mainly due to the addition of fleet to the portfolio.

MONTHLY COST (ex-depreciation) PER CAR (R$)

800 1.0%

700
0.8%
600 0.6% 0.6% 0.6%
0.6% 0.6% 0.6%
500 0.5% 0.5%
0.5% 0.6%
400
302 333 348
263 285 280 280 284 0.4%
300 232
200
0.2%
100

- 0.0%

1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22

Monthly cost (ex-depreciation) per car (R$) Cost/PP&E per car (%)

The calculation of depreciation per car is based on the calculated depreciation amount and available-for-sale assets for the GTF
segment divided by the final fleet of the GTF segment of the period.

10
 LTM DEPRECIATION PER CAR (R$) ANNUALIZED DEPRECIATION PER CAR1 (R$)

(4,215) (4,241) (4,500) 7.1% 7.5%

(3,907) (3,806)
(4,300) 6.5% 7.0%
(3,308)
(3,030) (4,100)
6.5%
(2,717) 6.0%
(2,395) (2,397) (3,900)
5.5%
(3,700) 5.0%
(3,500) (4,082) 4.5%
4.0%
(3,300) (3,591)
3.5%
(3,100)
3.0%

4Q21 1Q22
1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22
Annualized depreciation per car (R$/car)
Depreciation/PP&E per car (%)

1
The percentage of the fleet average car is calculated by dividing the annualized depreciation per car by the depreciation per
car. The calculation of depreciation per car is based on the calculated depreciation amount and available-for-sale assets for the
GTF segment divided by the final fleet of the GTF segment of the period.

2.d. Operational Result

Chg. 1Q22 x Chg. 1Q22 x

(R$ million) 1Q21 4Q21 1Q22
1Q21 4Q21
Gross Profit 106.0 215.8 235.2 121.9% 9.0%
Gross Margin 64.2% 57.9% 59.2% -5.0 p.p +1.3 p.p
General and Administrative Expenses (26.5) (27.9) (42.2) 59.2% 51.3%
EBITDA 99.5 261.9 285.3 186.7% 8.9%
EBITDA Margin 60.2% 70.3% 71.8% +11.6 p.p +1.5 p.p
EBIT 79.6 187.9 193.0 142.5% 2.7%
EBIT Margin 48.2% 50.4% 48.6% +0.4 p.p -1.9 p.p

The gross profit totaled R$235.2 million in 1Q22, with growths of R$129.1 million YoY
(+121.9%), and R$19.3 million QoQ (+9.0%), reaching a Gross Margin of 59.2%. The higher
gross profit was a result of the rise in net revenue, mainly due to the increase of the fleet
from the absorption of CS Frotas and Movida Zero Km, as well as the cost dilution.

EBITDA reached R$285.3 million in 1Q22, increases of R$185.8 million YoY (+186.7%), and
R$23.4 million QoQ (+8.9%), with an EBITDA Margin of 71.8%, mainly due to the growth of
revenue and the maintenance of expenses in flat levels compared to the previous quarters.
EBIT reached R$193.0 million, with growths of R$113.4 million YoY (+142.5%), and R$5.0
million QoQ (+2.7%), with an EBIT Margin of 48.6%.

11
 EBIT vs. AVERAGE MONTHLY EBITDA PER CAR (R$)

1,093 1,118
925 946
809 818 852
727 741

784 756
677 699
593
531 517 486
447

1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22

Average Monthly EBITDA per Average Operational Fleet (R$)

Average Monthly EBIT per Average Operational Fleet (R$)

3. Used Car Sales

3.a. Net Revenue

Chg. 1Q22 x Chg. 1Q22 x

(R$ million) 1Q21 4Q21 1Q22
1Q21 4Q21
Gross Revenue 277.9 816.0 981.5 253.2% 20.3%
Deductions (3.4) (6.8) (7.8) 129.4% 14.7%
Net Revenue 274.5 809.1 973.8 254.8% 20.4%

Number of Cars Sold 5,356 12,472 15,225 184.3% 22.1%

Average Price of Cars Sold (R$) 51,894 65,423 64,467 24.2% -1.5%

A total of 15,225 cars were sold in 1Q22, with an average ticket of R$64,467. The QoQ
increase in the number of cars sold was a result of the higher number of cars received in
December 2021. Net revenue totaled R$973.8 million, with growths of R$699.2 YoY
(+254.8%), and R$164.6 million QoQ (+20.4%).

NUMBER OF CARS SOLD vs. AVERAGE PRICE OF CAR SOLD (R$)

65,423 64,467
54,576 58,733
50,153 51,894
40,162 40,615 45,290

14,127 18,465 14,321 14,509 15,225

9,869 12,462 12,472
5,356

1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22

Number of Cars Sold Average Price of Cars Sold (R$)

12
3.b. Costs

Chg. 1Q22 x Chg. 1Q22 x

(R$ million) 1Q21 4Q21 1Q22
1Q21 4Q21
Cost (214.6) (576.0) (714.8) 233.1% 24.1%

Costs totaled R$714.8 million in 1Q22, increases of R$500.2 million YoY (+233.1%), and
R$163.5 million QoQ (+24.1%), which reflect the higher sales.

3.c. Operational Result

Chg. 1Q22 x Chg. 1Q22 x

(R$ million) 1Q21 4Q21 1Q22
1Q21 4Q21
Gross Profit 59.9 233.1 259.0 332.4% 11.1%
Gross Margin 21.8% 28.8% 26.6% +4.8 p.p -2.2 p.p
Administrative Expenses (31.4) (62.1) (66.6) 112.1% 7.2%
Depreciation and Amortization (7.8) (10.5) (12.1) 55.1% 15.2%
Depreciation (Other) (1.3) (2.5) (3.2) 146.2% 28.0%
Amortization of right of use (IFRS 16) (6.5) (8.0) (8.9) 36.9% 11.3%
EBITDA 36.3 181.6 204.5 463.4% 12.6%
EBITDA Margin 13.2% 22.4% 21.0% +7.8 p.p -1.4 p.p
EBIT 28.5 171.0 192.4 575.1% 12.5%
EBIT Margin 10.4% 21.1% 19.8% +9.4 p.p -1.4 p.p

Gross Profit totaled R$259.0 million in 1Q22, with growths of R$199.1 million YoY (+332.4%),
and R$25.9 million QoQ (+11.1%), with a Gross Margin of 26.6%, an increase of 4.8 p.p. over
1Q21 and a decrease of 2.2 p.p. from 4Q21. The YoY growth was mainly due to higher average
prices in the Used Cars Sales market, which remained buoyant over 2021.

Administrative expenses totaled R$66.6 million in 1Q22, a growth of R$35.2 million YoY
(+112.1%), mainly due to higher sales and the increase in the number of stores (+11 stores).
Compared to 4Q21, growth was R$4.5 million (+7.2%), mainly due to selling costs and the
addition of three new stores.

EBITDA totaled R$204.5 million in 1Q22, a YoY growth of R$163.9 million (+463.4%), due to
higher net revenue. QoQ, EBITDA grew by R$22.9 million (+12.6%), also due to higher net
revenue. The EBITDA Margin came to 21.0%, up by 7.8 p.p. YoY and by 1.5 p.p. QoQ.

EBIT came to R$192.4 million in 1Q22, with growths of R$163.8 million YoY (+575.1%), and
R$21.3 million QoQ (+12.5%). The EBIT Margin was 19.8%, a YoY growth of 9.4 p.p. and a
QoQ decrease of 1.0 p.p.

The results remain strong because of the market scenario, the efficiency of the sales team,
and the maturity of the Used Cars Sales segment.

13
 GROSS MARGIN EVOLUTION

27.1% 28.8% 26.6%

21.8% 24.0%
19.4%

6.1% 6.3% 6.9%

1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22

STORES vs. ADMINISTRATIVE EXPENSES (% of Revenue)

11.4%
8.6% 7.5% 7.7%
6.0% 6.0% 6.0% 6.8%
4.9%
70 70 73 75 78 81
69 66 67

1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22

Number of Stores Administrative Expenses (% Revenue)

4. Financial Result
Chg. 1Q22 Chg. 1Q22
FINANCIAL RESULT (R$ milion) 1Q21 4Q21 1Q22
x 1Q21 x 4Q21
Financial Result (76.7) (208.1) (287.3) 274.8% 38.0%
Net Interest (68.5) (195.1) (215.4) 214.2% 10.4%
Interest Expenses (74.4) (301.0) (318.9) 328.6% 5.9%
Financial Investments 5.9 105.9 103.5 1667.4% -2.2%
Net results from derivatives and foreign exchange (2.9) (2.6) (56.3) 1822.5% 2027.4%
Interest on right of use (IFRS 16) (6.9) (9.8) (11.4) 66.0% 16.1%
Other financial expenses and revenues 1.7 (0.5) (4.2) -347.2% 672.0%

Chg. 1Q22 Chg. 1Q22

Net results from derivatives and foreign exchange (R$ milion) 1Q21 4Q21 1Q22
x 1Q21 x 4Q21
Net results from derivatives and foreign exchange (2.9) (2.6) (56.3) 1822.5% 2027.4%
Net exchange variation on borrowings (14.8) (56.8) 440.5 -3086.3% -875.8%
Exchange variation revenue on investments 165.2 155.0 (666.1) -503.3% -529.8%
Exchange rate changes on borrowings (179.9) (211.8) 1,106.6 -715.1% -622.6%
Gain (losses) on derivative transactions 11.8 54.1 (496.8) -4302.0% -1017.7%
Gain (losses) on derivative transactions - Foreign Exchange 10.5 60.9 (432.5) -4229.2% -809.9%
Gain (losses) on derivative transactions - Interest and Fees 1.3 (6.8) (64.3) -4867.8% 848.0%

The Company recorded financial expenses of R$287.3 million in 1Q22, increases of R$210.6
million YoY (+274.8%), and R$79.2 million QoQ (+38.0%), mainly due to:
i) The R$1.9 billion QoQ rise in net debt; and
ii) The rise in the SELIC rate, from 4.25% in February 2021 to 11.75% in March 2022.

14
 5. Net Income

Chg. 1Q22 x Chg. 1Q22 x

(R$ million) 1Q21 4Q21 1Q22
1Q21 4Q21
Gross Profit 398.9 819.2 884.9 121.8% 8.0%
Gross Margin¹ 75.2% 87.9% 89.2% +14.0 p.p +1.3 p.p
Gross Margin² 49.6% 47.1% 45.0% -4.5 p.p -2.0 p.p
EBITDA 304.5 776.6 863.1 183.4% 11.1%
EBITDA Margin¹ 57.4% 83.3% 87.0% +559 p.p +87 p.p
EBITDA Margin² 37.8% 44.6% 43.9% +6.1 p.p -0.7 p.p
EBIT 242.3 606.2 650.3 168.4% 7.3%
EBIT Margin¹ 45.7% 65.0% 65.6% +19.9 p.p +0.5 p.p
EBIT Margin² 30.1% 34.8% 33.1% +3.0 p.p -1.7 p.p
EBT 165.7 398.0 363.0 119.1% -8.8%
EBT Margin¹ 31.2% 42.7% 36.6% +5.4 p.p -6.1 p.p
EBT Margin² 20.6% 22.9% 18.5% -2.1 p.p -4.4 p.p
Net Income 109.5 276.7 258.1 135.7% -6.7%
Net Margin¹ 20.6% 29.7% 26.0% +5.4 p.p -3.7 p.p
Net Margin² 13.6% 15.9% 13.1% -0.5 p.p -2.8 p.p
¹ On Net Revenue from Rentals
² On Total Net Revenue

Chg. 1Q22 x Chg. 1Q22 x

(R$ million) 1Q21 4Q21 1Q22
1Q21 4Q21
Adjusted Net Income 109.5 276.7 258.1 135.7% -6.7%
Financial Result (76.7) (208.1) (287.3) 274.6% 38.1%
Income Taxes and Social Contribution 56.2 121.4 104.9 86.7% -13.6%
Depreciation (62.2) (170.4) (212.8) 242.1% 24.9%
Amortization of right of use (IFRS 16) (20.2) (27.5) (33.0) 63.4% 20.0%
12 Adjusted EBITDA 304.5 776.6 863.1 183.4% 11.1%

Gross Profit totaled R$884.9 million in 1Q22, with a gross margin of 45.0%, a decrease of
4.5p.p compared to 1Q21 and a decrease of 2.0p.p. compared to 4Q21. The dilution of costs
and expenses as a percentage of net revenue in the quarter continues to reflect the discipline
in the Company’s expense management.

Consolidated EBITDA totaled R$863.1 million, with a margin of 43.9% in 1Q22, with YoY
growths of R$558.6 million and 6.1 p.p. in the margin, and an increase of R$86.5 million and
a reduction of 0.7 p.p. compared to 4Q21. Consequently, the monthly EBITDA per car hit an
all-time high of R$1,660 in 1Q22.

Consolidated EBIT totaled R$650.3 million in 1Q22, increases of R$408.0 million YoY and
R$44.1 million QoQ. The EBIT Margin came to 33.1%, up by 3.0 p.p. YoY and down by 1.7 p.p.
QoQ.

Net Income totaled R$258.1 million, up by R$148.6 million YoY (+135.7%), mainly due to
i) the continued strategy to expand and renew the fleet; ii) the increase of the average rate,

11
Calculation over Net Revenue from Rentals.
2² Calculation over Total Net Revenue
15
especially in the RAC segment; iii) the absorption of CS Frotas, generating operational
synergies in the GTF segment; iv) the growth of Movida Zero Km, also in the GTF segment,
diluting costs and increasing margins in the short term; and v) operational improvements.
QoQ, Net Income fell by R$18.6 million (-6.7%), mainly due to higher costs with depreciation
and net financial expenses.

6. Net CAPEX

Chg. 1Q22 x Chg. 1Q22 x

CAPEX (R$ million) 1Q21 4Q21 1Q22
1Q21 4Q21

RAC
Fleet 248.5 1,950.5 1,764.8 610.2% -9.5%
Renewal 248.5 971.5 1,250.5 403.2% 28.7%
Expansion - 979.0 514.2 n.a. -47.5%
Stores 8.7 20.4 24.6 182.8% 20.6%
New 4.3 6.8 16.8 290.7% 147.1%
Previously existent 4.5 13.5 7.8 73.3% -42.2%
Other 24.5 25.3 19.6 -20.0% -22.5%
TOTAL 281.8 1,996.2 1,808.9 541.9% -9.4%
GTF
Fleet 400.1 959.9 152.7 -61.8% -84.1%
Renewal 114.9 385.9 44.5 -61.3% -88.5%
Expansion 285.2 574.0 108.1 -62.1% -81.2%
Other 0.0 1.4 1.7 n.a. 21.4%
TOTAL 400.1 961.2 154.3 -61.4% -83.9%
TOTAL GROSS 682.0 2,957.4 1,963.3 187.9% -33.6%

Gross Revenue from the Sale of Assets 277.9 816.0 981.5 253.2% 20.3%

NET TOTAL 404.0 2,141.5 981.7 143.0% -54.2%

Net CAPEX totaled R$981.7 million in 1Q22. The 4,968 cars addition to the fleet together with
the maintenance of occupancy rates in the RAC segment and the good performance of the
GTF segment is a result of the flexible strategy adopted since the beginning of the pandemic
and the post-COVID resumption.

The residual vehicle PP&E balance of R$12.3 billion in 1Q22 reflects the new fleet profile of
more complete cars and SUVs in the portfolio, which have higher purchase tickets.

In the same period, the market value of our asset base (FIPE table) was 27.1% higher than
the residual book value on average, generating potential gain in the sale of assets. By applying
the average appreciation in the total asset base, the potential future gain would reach R$3.6
billion (R$12.3 billion x 1+29.1%). The gain arises from a structural price change in the market
and protects the Company against potential future interest increases.

16
 7. Cash Flow

Chg. 1Q22 LTM x

Cash Generation (R$ million) 1Q21 LTM 1Q22 LTM
1Q21 LTM (%)

EBITDA 974 2,642 171%

Non cash items 406 (177) -144%
Cost of Sale of assetes used in lease and services rendered 1,909 2,419 27%
Change in Working Capital 15 (974) -6495%
Renewal Capex (1,958) (4,162) 113%
Cash Flow from Operations 1,346 (252) -119%
Net Financial Expenses (197) (696) 253%
(-) Taxex (19) (70) 265%
(-) Dividends and interest on capital paid (34) (146) 332%
(-) Other Capex (81) (128) 58%
Cash Flow Before Expansion 1,015 (1,291) -227%
(-) Expansion Capex (1,275) (3,442) 170%
(-) Acquisition of Investments by company purchase (31) 5 -116%
(-) Acquired`s assumed cash - 4 n.a.
(+/-) Debt/Equity/Cash 938 4,741 406%
Cash Generation 647 17 -97%
Notes: 1) The Renewal Capex and Expansion CAPEX structure is estimated using the same proportion of the Company's accrual-
based CAPEX presented in the Earnings Release (Fundamentals and Spreadsheets on the Investor Relations website); 2) “Non-
cash items”: Includes the write-off of assets and liabilities and the difference of EBITDA from accrual to cash basis; 3) “CAPEX
others”: Related to IT, stores, and other projects, and 4) “Debt/Equity/Cash”: Includes issues, funding, securities, and difference
of interest from accrual to cash basis.

The Company’s EBITDA reached R$2.6 billion in 1Q22, a YoY increase of R$1.7 billion. The
generation of operational cash came to -R$252 million, mainly due to the Company’s
strategy, which is undergoing a cycle where fleet renewal requires higher investments. Cash
generated before growth totaled -R$1.3 billion, less expansion CAPEX, additional
acquisitions, and funding resulted in a net cash generation of R$17 million, which fell due to
renewal CAPEX that required more cash than expansion CAPEX.

8. Indebtedness
1Q22 INDEBTEDNESS SCHEDULE

4,621¹
3,912
1,000

2,239
- 1,571 3,790
3,621 1,265 626
1,172 963
150 - 500
459 197 -
163 521
1,613 500 206 121
121 1,115 975 908 179 0
339 284 521 0
206 0
121 123
Cash 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031
Debenture Borrowings, financing and leasing New Debenture

¹The cash and debt net position exclude the effect of 4131 linked to the bond.

17
 Debt Ratios 1Q21 4Q21 1Q22
Net Debt / Net Fixed Assets 0.5x 0.6x 0.7x
Net Debt / LTM EBITDA 3.2x 2.9x 3.0x
Net Debt / Equity 1.4x 2.1x 2.7x

EBITDA / Net Interest 4.4x 3.7x 4.3x

EBIT / Net Interest 3.5x 2.9x 3.2x
NOTE: The calculation of the LTM Net Debt/EBITDA ratio considers the adjusted EBITDA to calculate the
covenants.

The net debt and EBITDA breakdown used for the calculation of the Net Debt/LTM EBITDA
ratio is as follows:

Net Debt Conciliation (R$ million) 1Q22

Gross Debt 14,165
(+) Loans, borrowing, Debentures and leases 13,459
(+) Derivative financial instruments 1,075
(+) Hedge financial instruments (368)

(-) Cash and equivalents and securities, marketable securities and financial investments 5,651

NET DEBT 8,515

EBITDA reconciliation (R$ million) 1Q22 LTM

Net Income 968
Income Taxes and Social Contribution 411
Financial Result 696
Depreciation 464
Amortization of right of use (IFRS 16) 103
EBITDA 2,642
Cost of damaged and casualty vehicles written off, net of the respective amount recovered through sale 36
(+) EBITDA LTM Acquired Companies 168
EBITDA to calculate covenants 2,845

Gross debt totaled R$8.5 billion in 1Q22, mainly due to i) the bond retap in September 2021,
of US$300 million; ii) the debenture issues between 1Q21 and 1Q22, of R$3.4 billion, plus the
debentures from the absorption of CS Frotas, of R$1.2 billion. Leverage, measured by the net
debt/EBITDA ratio, stood at 3.0x, reflecting the strong operational result arising from higher
indebtedness and growth of the fleet.

9. Profitability
The indexes show a continued expansion for six quarters in a row, expanding the Company’s
performance. The spread of LTM ROIC versus the cost of debt was 9.9 p.p. in 1Q22, while
LTM ROE totaled 34.6%, once again breaking profitability records.

18
 All-time high!
34.6%

29.0%
25.3%

19.4% All-time high!

15.3% 16.4%
13.6%
12.0% 12.3% 11.4%
10.4% 10.0%
10.3% 8.0% 8.4% 6.5%
4.7% 5.1%
9.0% 7.7% 7.8% 2.8% 3.1% 3.9%
4.4% 3.4% 3.1%

1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22

ROIC LTM COST OF DEBT (POST TAXES) ROE LTM

NOTE: ROIC was calculated using EBIT and the effective tax rate as "Return”, and the net debt added to equity as "Capital
Invested", considering the last twelve months of the analyzed periods. Considers results adjusted in 1Q20.

10. Dividends and Interest on Equity

Shareholder Amount
Type Competence Approval Date Payment Date Amount/share
Position Date (R$ million)
Interest on equity 2017 12/28/2017 1/4/2018 5/30/2018 15.0 0.070260380
Interest on equity 2018 3/29/2018 4/4/2018 8/30/2018 4.7 0.022147761
Dividends 2017 4/26/2018 4/26/2018 5/30/2018 0.8 0.003697021
Interest on equity 2018 6/25/2018 6/29/2018 10/1/2018 7.0 0.032950777
Interest on equity 2018 9/28/2018 10/26/2018 4/5/2019 25.4 0.096756643
Interest on equity 2018 12/13/2018 12/20/2018 7/5/2019 37.9 0.144399887
Interest on equity 2019 3/29/2019 6/28/2019 7/10/2019 20.0 0.076228950
Interest on equity 2019 6/28/2019 9/27/2019 10/10/2019 20.0 0.076203297
Interest on equity 2019 9/20/2019 10/3/2019 1/6/2020 27.7 0.093238492
Interest on equity 2020 12/23/2020 1/5/2021 7/1/2021 44.0 0.147814004
Interest on equity 2021 3/31/2021 6/29/2021 7/12/2021 27.0 0.090564228
Interest on equity 2021 6/23/2021 6/28/2021 10/11/2021 23.9 0.080166113
Interest on equity 2021 9/24/2021 9/29/2021 11/17/2021 27.7 0.076774598
Interest on equity 2021 12/22/2021 12/29/2021 1/31/2022 45.3 0.125375129
Interest on equity 2022 3/24/2022 3/30/2022 7/5/2022 54.0 0.149454282
Dividends 2021 4/26/2022 5/4/2022 5/16/2022 307.0 0.848884241
NOTE: Only distributions made after the IPO on February 8, 2017 were considered.

11.Capital Markets

Movida Participações S.A. began trading its shares on B3’s Novo Mercado segment on
February 8, 2017, under the ticker MOVI3. The average daily traded volume of MOVI3
between February 8, 2017 and April 29, 2022 was R$26 million.

19
 MOVI3 04/29/2022
R$18.15 (+142% vs IPO)
Average volume of R$26 million per trading
session since February 2017 (1.5% of the free float)
18.15

7.50

MOVI3 IBOV SMALL CAPS

12.Conference Calls
Conference Calls and Webcasts
Portuguese (with simultaneous
translation into English)
Monday, May 2, 2022
2:00 p.m. (São Paulo) |
1:00 p.m. (NY)
Dial-in
+55 11 3181-8565 or +55 11 4090-1621
Access Code: Movida
Click here to access the Webcast

20
 13. Environmental, Social, and Governance Information (“ESG”)

Quarterly ESG Data

Environment

Environment 1Q21 2Q21 3Q21 4Q21 1Q22

Water
Absolute water consumption (m³) 53,625 54,357 94,417 59,811 75,538
Relative water consumption (m³/employee/day) 0.17 0.16 0.26 0.15 0.18
Relative water consumption (m³/car/day) 0.16 0.16 0.16 0.13 0.16
Energy
Absolute energy consumption (kwh) 2,648,723 2,093,151 2,800,340 3,551,443 3,775,024
Relative energy consumption (kwh/employee/day) 8.34 6.29 7.58 8.67 8.88

Note: Relative consumption indicators consider the average consumption of the last three months.

1Q22 Employees Profile

1Q22 Leadership Profile

Note: Amount referring to eligible leadership positions, excluding operational leadership

Employees attending anti-corruption training

Anti-Corruption training 1Q21 2Q21 3Q21 4Q21 1Q22

% Employees 84 83 85 86 81

To learn more about our priority topics, practices, and projects related to environmental,
social, and governance aspects, see our Sustainability Report here.
21
Income Statement
Income Statement (With IFRS16) (R$ million) 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2020 2021
RAC
Gross Revenue 368.7 206.1 304.6 406.9 414.2 388.3 495.8 626.4 666.1 1,286.3 1,924.8
Deductions (43.3) (32.1) (34.7) (47.9) (49.1) (46.3) (52.5) (67.3) (71.4) (158.0) (215.2)
Net Revenue 325.4 174.0 269.9 359.0 365.1 342.0 443.3 559.2 594.7 1,128.3 1,709.6
Cost (169.1) (125.8) (160.4) (152.3) (132.1) (144.0) (158.6) (188.9) (203.9) (607.7) (623.6)
Ex-depreciation cost (105.2) (68.7) (76.8) (100.0) (97.6) (106.7) (107.5) (103.0) (95.5) (350.7) (414.9)
Depreciation (63.8) (57.1) (83.6) (52.4) (34.5) (37.2) (51.1) (85.9) (108.4) (256.9) (208.7)
Fleet Depreciation (48.2) (41.6) (67.7) (37.2) (13.6) (16.1) (25.0) (57.9) (77.3) (194.7) (112.6)
Other Depreciation (4.2) (4.4) (5.0) (4.9) (8.4) (8.5) (8.9) (9.0) (9.5) (43.7) (61.4)
Amortization of right of use (IFRS 16) (11.5) (11.1) (10.9) (10.2) (12.5) (12.7) (17.2) (19.0) (21.5) (18.5) (34.7)
Gross Profit 156.3 48.2 109.5 206.7 233.0 198.0 284.7 370.3 390.8 520.6 1,086.0
Gross Margin 48.0% 27.7% 40.6% 57.6% 63.8% 57.9% 64.2% 66.2% 65.7% 46.1% 63.5%
Selling, general and administrative expenses (85.5) (60.9) (73.0) (96.8) (98.8) (94.6) (102.7) (123.0) (125.8) (316.1) (419.1)
EBITDA 134.7 44.4 120.1 162.3 168.7 140.7 233.1 333.1 373.4 461.4 875.6
EBITDA Margin 41.4% 25.5% 44.5% 45.2% 46.2% 41.1% 52.6% 59.6% 62.8% 40.9% 51.2%
EBIT 70.8 (12.7) 36.5 109.9 134.2 103.4 182.0 247.2 265.0 204.5 666.9
EBIT Margin 21.8% -7.3% 13.5% 30.6% 36.8% 30.2% 41.1% 44.2% 44.6% 18.1% 39.0%
Fleet Management (GTF)
Gross Revenue 140.5 137.6 138.2 156.3 184.2 216.7 317.7 412.7 442.5 572.5 1,131.3
Deductions (13.9) (12.8) (13.4) (15.3) (18.9) (20.7) (30.4) (40.0) (45.2) (55.4) (110.0)
Net Revenue 126.6 124.8 124.8 141.0 165.3 196.0 287.3 372.7 397.4 517.1 1,021.3
Cost (64.9) (62.0) (58.9) (61.4) (59.2) (68.3) (119.7) (156.9) (162.2) (247.2) (404.0)
Ex-depreciation cost (27.3) (23.0) (28.6) (33.0) (40.5) (42.0) (67.9) (83.4) (72.4) (112.0) (233.8)
Depreciation (37.6) (39.0) (30.3) (28.4) (18.7) (26.3) (51.8) (73.4) (89.8) (135.2) (170.3)
Fleet Depreciation (37.2) (38.6) (29.8) (28.0) (17.6) (24.9) (50.2) (71.7) (86.8) (133.6) (164.4)
Other Depreciation (0.4) (0.4) (0.4) (0.4) (1.1) (1.5) (1.6) (1.7) (3.0) (1.7) (5.9)
Gross Profit 61.7 62.8 65.9 79.6 106.0 127.7 167.6 215.8 235.2 269.9 617.2
Gross Margin 48.7% 50.3% 52.8% 56.4% 64.2% 65.2% 58.4% 57.9% 59.2% 52.2% 60.4%
Selling, general and administrative expenses (15.3) (10.2) (14.0) (22.3) (26.5) (26.4) (25.0) (27.9) (42.2) (61.8) (105.7)
EBITDA 84.0 91.5 82.2 85.6 99.5 127.7 193.1 261.9 285.3 343.3 682.2
EBITDA Margin 66.3% 73.4% 65.9% 60.7% 60.2% 65.1% 67.2% 70.3% 71.8% 66.4% 66.8%
EBIT 46.4 52.5 51.9 57.3 79.6 101.4 142.6 187.9 193.0 208.1 511.5
EBIT Margin 36.7% 42.1% 41.6% 40.6% 48.2% 51.7% 49.6% 50.4% 48.6% 40.2% 50.1%
Used Cars Sales (Seminovos)
Gross Revenue 567.4 750.0 648.6 495.0 277.9 680.1 852.2 816.0 981.5 2,460.9 2,626.2
Deductions (8.2) (0.9) (7.7) (4.2) (3.4) (6.6) (7.5) (6.8) (7.8) (21.0) (24.4)
Net Revenue 559.2 749.1 640.9 490.7 274.5 673.5 844.6 809.1 973.8 2,439.9 2,601.8
Cost (525.0) (702.2) (596.8) (395.7) (214.6) (512.0) (615.8) (576.0) (714.8) (2,219.7) (1,918.5)
Gross Profit 34.2 46.9 44.1 95.0 59.9 161.5 228.8 233.1 259.0 220.2 683.3
Gross Margin 6.1% 6.3% 6.9% 19.4% 21.8% 24.0% 27.1% 28.8% 26.6% 9.0% 26.3%
Selling, general and administrative expenses (33.6) (36.9) (38.3) (42.0) (31.4) (50.7) (50.8) (62.1) (66.6) (150.9) (195.0)
Depreciation (5.8) (5.4) (5.1) (4.4) (7.8) (9.4) (9.1) (10.5) (12.1) (20.7) (36.8)
Other Depreciation (1.5) (1.7) (1.6) (1.2) (1.3) (2.2) (2.2) (2.5) (3.2) (6.0) (8.2)
Amortization of right of use (IFRS 16) (4.3) (3.8) (3.5) (3.1) (6.5) (7.2) (7.0) (8.0) (8.9) (14.7) (28.6)
EBITDA 6.5 15.4 10.9 57.4 36.3 120.1 187.2 181.6 204.5 90.0 525.2
EBITDA Margin 1.2% 2.1% 1.7% 11.7% 13.2% 17.8% 22.2% 22.4% 21.0% 3.7% 20.2%
EBIT 0.7 10.0 5.7 53.0 28.5 110.7 178.1 171.0 192.4 69.3 488.3
EBIT Margin 0.1% 1.3% 0.9% 10.8% 10.4% 16.4% 21.1% 21.1% 19.8% 2.8% 18.8%
Consolidated
Gross Revenue 1,076.5 1,093.6 1,091.4 1,058.2 876.3 1,285.2 1,665.7 1,855.1 2,090.1 4,319.7 5,682.2
Deductions (65.4) (45.7) (55.8) (67.5) (71.4) (73.7) (90.4) (114.1) (124.4) (234.4) (349.6)
Net Revenue 1,011.2 1,047.8 1,035.6 990.7 804.9 1,211.5 1,575.2 1,741.0 1,965.8 4,085.3 5,332.6
Net revenue from services 452.0 298.7 394.7 500.0 530.3 538.0 730.6 931.9 992.0 1,645.4 2,730.9
Cost (758.9) (890.0) (816.1) (609.5) (406.0) (724.3) (894.0) (921.8) (1,080.9) (3,074.5) (2,946.1)
Ex-depreciation cost (651.7) (788.5) (697.1) (524.3) (343.8) (651.3) (783.3) (751.4) (868.0) (2,661.7) (2,529.8)
Depreciation (107.2) (101.5) (119.0) (85.1) (62.2) (72.9) (110.7) (170.4) (212.8) (412.9) (416.3)
Fleet Depreciation (85.3) (80.2) (97.5) (65.2) (31.2) (41.0) (75.2) (129.6) (164.2) (328.3) (277.0)
Other Depreciation (6.0) (6.4) (7.1) (6.6) (10.8) (12.1) (12.6) (13.2) (15.7) (26.2) (48.8)
Amortization of right of use (IFRS 16) (15.9) (14.9) (14.4) (13.3) (20.2) (19.8) (22.9) (27.5) (33.0) (58.4) (90.4)
Gross Profit 252.2 157.8 219.4 381.2 398.9 487.2 681.2 819.2 884.9 1,010.7 2,386.5
Gross Margin 55.8% 52.8% 55.6% 76.2% 75.2% 90.6% 93.2% 87.9% 89.2% 61.4% 87.4%
Selling, general and administrative expenses (134.3) (108.0) (125.3) (161.1) (156.6) (171.7) (178.5) (213.0) (234.6) (528.8) (719.8)
EBITDA 225.1 151.3 213.2 305.3 304.5 388.5 613.4 776.6 863.1 894.8 2,083.0
EBITDA Margin¹ 22.3% 14.4% 20.6% 30.8% 37.8% 32.1% 38.9% 44.6% 43.9% 54.4% 76.3%
EBIT 117.9 49.8 94.1 220.1 242.3 315.5 502.7 606.2 650.3 481.9 1,666.7
EBIT Margin¹ 26.1% 16.7% 23.9% 44.0% 45.7% 58.6% 68.8% 65.0% 65.6% 29.3% 61.0%
Financial Result (45.2) (45.8) (37.4) (36.9) (76.7) (67.4) (132.7) (208.1) (287.3) (165.3) (485.0)
Financial expenses (54.2) (73.1) (74.2) (45.3) (265.2) 239.9 (342.3) (591.2) (395.0) (246.8) (958.7)
Financial income 9.0 27.3 36.8 8.4 188.5 (307.3) 209.5 383.0 107.7 81.5 473.8
EBT 72.7 4.0 56.7 183.2 165.7 248.1 370.0 398.0 363.0 316.6 1,181.8
EBT Margin¹ 7.2% 0.4% 5.5% 18.5% 20.6% 20.5% 23.5% 22.9% 18.5% 19.2% 43.3%
Net Income 55.1 2.6 37.2 138.7 109.5 173.9 259.4 276.7 258.1 233.5 819.4
Net Margin 12.2% 0.9% 9.4% 27.7% 20.6% 32.3% 35.5% 29.7% 26.0% 14.2% 30.0%

¹ Calculated over Net revenue from rentals

22
Balance Sheet
Balance Sheet - Proforma (R$ million) 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22
Assets
Cash and cash equivalents 239.2 287.4 327.9 68.6 886.6 2,816.5 4,644.0 146.0 903.5
Securities 810.3 1,413.2 1,297.1 1,623.9 2,095.7 2,740.2 3,630.3 7,640.4 4,747.1
Accounts receivable 398.1 376.4 398.4 455.4 447.1 550.9 631.6 879.9 1,075.7
Taxes recoverable 17.0 8.3 17.8 16.3 15.8 17.7 24.1 34.5 93.0
Anticipated Income Taxes and Social Contribution 71.5 70.6 71.9 64.3 55.2 49.7 71.7 74.7 87.6
Other receivables 6.6 7.5 5.4 4.4 5.0 4.8 19.4 26.4 25.6
Expenses for the following financial year 2.4 1.4 1.8 1.0 1.2 1.3 5.7 11.8 6.7
Prepaid expenses 67.7 38.5 27.5 9.5 73.6 59.3 53.3 27.1 133.7
Related parties - - - - - - - - -
Available-for-sale assets (fleet renewal) 408.9 425.9 162.0 136.7 186.6 300.0 335.6 306.0 611.2

Total current assets 2,021.7 2,629.3 2,309.8 2,380.2 3,766.9 6,540.3 9,415.7 9,147.0 7,684.0

Non-current assets
Assets held for distribution to shareholders - - - - - - - - -
Securities - 40.0 40.2 40.4 2,529.6 - - - -
Taxes recoverable 28.8 53.1 50.1 37.0 37.7 26.3 26.5 26.4 26.5
- - - - - - - 4.9 4.9
Differed tax credits 95.2 101.3 95.9 109.5 122.9 144.7 206.6 154.4 161.2
Related parties - - - - - - - - -
Judicial deposits 6.5 7.1 6.7 6.5 6.0 6.0 6.4 6.5 8.1
Other receivables - - - - - - 9.6 14.5 16.2
Derivative financial instruments 11.2 29.8 55.2 44.1 59.1 37.7 41.7 38.8 35.7
Accounts receivable 4.4 4.0 3.9 3.2 3.3 2.8 2.8 7.2 2.1

Permanent
Investments 1.1 1.1 1.2 1.2 2.0 2.1 1.2 1.2 1.2
Property and equipment 5,005.8 4,469.0 5,036.5 5,738.8 6,358.2 7,287.4 9,856.9 12,140.0 12,833.8
Intangible assets 116.0 126.1 135.2 141.7 156.3 157.3 168.4 175.0 181.8

Total non-current assets 5,268.9 4,831.4 5,424.8 6,122.4 9,275.1 7,664.4 10,320.1 12,568.9 13,271.4

Total assets 7,290.6 7,460.7 7,734.6 8,502.6 13,042.0 14,204.7 19,735.8 21,715.9 20,955.4

Liabilities and equity

Current liabilities
Borrowings and financing 351.3 327.0 375.4 526.6 202.6 144.8 131.1 250.0 232.2
Debentures 229.8 399.2 338.3 376.7 337.2 348.8 346.6 367.3 463.9
Confirming Operations – automakers 56.9 518.3 230.0 149.3 - - - - -
Trade payables 1,479.8 727.2 1,142.9 1,172.7 945.5 1,343.4 1,360.5 2,316.8 1,725.6
Labor obligations 45.8 48.6 51.3 50.5 60.0 70.9 73.6 67.0 80.7
Tax obligations 6.2 11.3 8.4 13.6 14.9 20.7 22.3 24.8 25.4
Income Tax and Social Contribution payable 1.3 1.0 0.2 3.9 0.8 26.9 18.8 1.8 -
Dividends and interest on capital payable 33.8 33.8 33.8 37.4 60.4 81.6 46.2 130.1 137.5
Acquisitions of Payable Companies - - - - - - 9.5 9.5 -
Accounts payable and prepayments 70.4 70.2 76.8 73.3 123.4 111.5 157.7 172.3 184.6
Lease payable - - - - - - 45.2 37.7 25.7
Lease for right use 52.0 47.0 46.6 44.2 62.0 67.7 84.4 103.0 108.3
Related parties - - - - - - - - -
Assignment of credit rights - - - - - - - - -
Derivative financial instruments - - - - - - - 270.9 429.0

Total current liabilities 2,327.2 2,183.5 2,303.8 2,448.2 1,806.9 2,216.3 2,296.1 3,751.2 3,412.9

Non-current liabilities
Long term liabilities
Borrowings and financing 417.3 704.9 800.6 540.0 5,965.0 5,245.9 7,555.1 7,717.1 6,952.2
Debentures 2,083.3 2,112.4 2,107.6 2,790.8 2,238.5 3,218.5 5,545.0 5,978.1 5,781.5
Derivative financial instruments - 2.8 - - 167.9 364.1 378.4 102.1 681.5
Taxes to be collected - - - - - - - 2.1 1.9
Provision for judicial and administrative litigation 5.2 5.4 5.2 4.7 4.6 4.5 4.0 4.7 5.3
Liabilities held for distribution to shareholders - - - - - - - - -
Accounts payable and prepayments 0.8 0.7 0.6 0.5 3.0 0.4 6.8 12.9 12.6
Lease payable - - - - - - 31.5 7.4 3.2
Lease for right use 135.3 127.7 137.4 128.6 253.4 241.3 252.3 305.0 311.7
Deferred income and social contribution taxes 141.7 144.1 162.1 231.0 253.1 354.9 488.5 550.8 551.2

Total non-current liabilities 2,783.7 3,097.9 3,213.5 3,695.7 8,885.5 9,429.5 14,261.6 14,680.2 14,301.2

Equity:
Share capital 2,009.9 2,009.9 2,009.9 2,009.9 2,009.9 2,009.9 2,590.7 2,590.7 2,590.8
Shares held in treasury (23.0) (23.1) (23.2) (23.3) (23.4) (27.2) (12.5) (12.6) (12.6)
Capital reserve 65.2 60.8 60.8 60.9 60.9 61.0 63.1 61.6 61.6
Equity Adjustments (4.7) (3.2) (2.3) (0.4) (92.0) (29.0) (235.1) (269.2) (516.5)
Profit reserve 132.2 134.8 172.0 311.6 394.1 544.1 771.9 914.0 1,118.1
Retained earnings in the period - 0.0 - - - - - - -
Advance for future capital increase - - - - - - - - -

Total Equity 2,179.6 2,179.3 2,217.3 2,358.7 2,349.6 2,558.8 3,178.1 3,284.5 3,241.3

Total liabilities and equity 7,290.6 7,460.7 7,734.6 8,502.6 13,042.0 14,204.7 19,735.8 21,715.9 20,955.4

23
Operational Data

Operational Data 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22
RAC
Number of points of sales* 195 184 190 194 195 199 202 207 216
Fleet - End of the Period 78,220 66,025 67,978 71,219 70,213 78,453 79,888 90,671 96,572
Average Operational Fleet 64,924 50,952 56,269 59,811 64,796 63,654 67,381 70,538 75,286
Average Rented Fleet 48,799 37,161 46,518 50,502 51,370 50,671 55,849 57,025 57,280
Average Age of the Fleet (in months) 7.7 8.7 9.0 9.5 11.1 11.7 11.4 11.3 8.8
Number of Daily Rentals (thousand) 4,420 3,462 4,330 4,823 5,067 4,618 5,143 5,281 5,225
Occupancy Rate (%) 75.2% 72.9% 82.7% 84.4% 79.3% 79.6% 82.9% 80.8% 76.1%
Daily Rentals Average (R$) 83.4 59.5 70.3 84.4 81.7 84.1 96.4 118.6 127.5
Average monthly revenue per average operational fleet 1,893.0 1,348.1 1,804.2 2,267.9 2,130.8 2,033.6 2,452.9 2,960.2 2,949.2
LTM depreciation per average operational fleet (2,125.0) (2,581.1) (3,423.7) (3,357.7) (2,763.1) (2,202.2) (1,438.5) (1,691.0) (2,547.7)
Fleet Management (GTF)
Fleet - End of the Period 40,889 39,673 40,731 47,244 52,395 55,776 88,379 96,303 95,370
Average Operational Fleet 34,587 32,980 33,511 39,270 44,736 49,929 68,035 79,898 85,083
Average Age of the Fleet (in months) 14.5 15.9 16.4 15.1 14.7 15.7 15.0 15.8 18.9
Number of Daily Rentals (thousand) 3,144.6 3,046.6 3,082.4 3,613.3 3,861.7 4,544.1 6,259.2 7,350.6 7,657.5
Average Quarterly Ticket (R$) 3,660.2 3,783.1 3,724.4 3,589.7 3,694.3 3,925.5 4,222.9 4,664.9 4,670.3
Average Monthly Ticket (R$) 1,220.1 1,261.0 1,241.5 1,196.6 1,231.4 1,308.5 1,407.6 1,555.0 1,556.8
LTM depreciation per average operational fleet (3,907.4) (4,215.5) (4,240.7) (3,806.4) (3,030.2) (2,395.5) (2,397.5) (2,717.3) (3,308.3)
Used Cars Sale (Seminovos)
Number of stores 69 66 67 70 70 73 75 78 81
Number of Cars Sold** 14,127 18,465 14,321 9,869 5,356 12,462 14,509 12,472 15,225
RAC 12,397 16,469 10,860 8,237 3,778 10,101 11,112 9,970 13,308
GTF 1,730 1,996 3,461 1,632 1,578 2,361 3,397 2,502 1,917
Average Price of Sold Cars (R$) 40,162 40,615 45,290 50,153 51,894 54,576 58,733 65,423 64,467
RAC 41,289 41,335 47,429 51,595 54,056 56,507 61,802 67,684 65,384
GTF 32,083 34,672 38,578 42,875 46,717 46,312 48,692 56,414 58,104
Average Age of Sold Cars (months) 20.6 16.6 19.8 19.9 22.9 22.2 24.2 23.8 21.1
RAC 17.4 15.6 17.1 17.5 18.9 19.7 21.5 21.4 19.8
GTF 30.1 24.2 25.9 28.5 30.3 31.5 31.3 32.9 31.1

CAPEX

CAPEX (R$ million) 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22
RAC
Fleet 936.1 263.4 711.1 676.4 248.5 1,265.5 1,142.0 1,950.5 1,764.8
Renewal 600.7 263.4 608.6 498.8 248.5 718.7 1,019.9 971.5 1,250.5
Expansion 335.4 - 102.5 177.6 - 546.8 122.0 979.0 514.2
Stores 8.4 4.3 8.3 4.1 8.7 7.7 12.5 20.4 24.6
New 0.2 1.9 4.6 1.5 4.3 4.6 2.5 6.8 16.8
Old 8.2 2.4 3.8 2.6 4.5 3.2 10.0 13.5 7.8
Others 19.2 15.9 17.9 25.4 24.5 45.6 28.2 25.3 19.6
TOTAL 963.7 283.6 737.3 706.0 281.8 1,318.9 1,182.7 1,996.2 1,808.9
Fleet Management (GTF)
Fleet 203.1 39.7 238.8 500.9 400.1 267.0 945.0 959.9 152.7
Renewal 31.4 24.9 25.1 80.5 114.9 145.1 87.4 385.9 44.5
Expansion 171.7 14.8 213.7 420.3 285.2 121.8 857.6 574.0 108.1
Others - - - - 0.0 1.5 0.3 1.4 1.7
TOTAL 203.1 39.7 238.8 500.9 400.1 268.5 945.3 961.2 154.3
TOTAL CAPEX (RAC+GTF) 1,166.8 323.3 976.1 1,206.8 682.0 1,587.4 2,128.0 2,957.4 1,963.3

Number of Cars Bought 24,221 5,962 18,242 21,167 10,911 23,273 25,098 32,177 21,202
RAC 20,266 5,012 13,551 11,666 4,004 19,070 13,495 21,463 19,849
GTF 3,955 950 4,691 9,501 6,907 4,203 11,603 10,714 1,353
Average Price of Bought Cars (R$) 47,031 50,847 52,071 55,619 59,452 65,849 83,151 90,445 90,436
RAC 46,189 52,564 52,477 57,983 62,073 66,363 84,623 90,876 88,909
GTF 51,349 41,791 50,900 52,717 57,932 63,518 81,472 89,582 112,824

24
Statements of financial position
As at March 31, 2022 and December 31, 2021
(In thousands of Brazilian Reais)
Parent Company Consolidated Parent Company Consolidated
Assets Note Liabilities Note
03/31/2022 12/31/2021 03/31/2022 12/31/2021 03/31/2022 12/31/2021 03/31/2022 12/31/2021

Current Current
Cash and cash equivalents 5 30,703 2,711 904,521 146,030 Trade payables 13 49,189 36,421 1,725,608 2,316,752
Marketable securities and financial investments 6 812,851 2,030,259 4,747,063 7,640,423 Loans and borrowings 14 74,028 68,691 232,205 250,031
Trade receivables 7 160,911 136,760 1,075,725 879,885 Debentures 15 298,889 287,181 463,885 367,288
Taxes recoverable - 87 51 92,999 34,531 Derivative financial instruments 4 27,537 6,793 429,027 270,875
Prepaid income tax and social contribution 19 39,905 26,304 87,563 74,712 Right-of-use leases 16 108,846 72,645 108,267 103,044
Fixed assets available for sale 8 7,709 363 611,185 306,031 Leases payable - - - 25,728 37,731
Dividends receivable - 30,560 31,924 - - Social and labor liabilities 18 11,069 9,475 80,682 66,977
Other credits - 37,630 43,478 165,952 65,347 Tax liabilities - 11,828 12,200 25,379 24,832
Total current assets 1,120,356 2,271,850 7,684,008 9,146,959 Income tax and social contribution payable 19 - - - 1,769
Noncurrent Dividends and interest on capital payable 20.8 135,168 127,773 137,516 130,121
Payables for the acquisition of companies - - 9,473 - 9,473
Other payables and advances - 14,431 13,545 184,616 172,300
Derivative financial instruments 4 24,130 - 35,660 38,781 Total current liabilities 730,985 644,197 3,412,913 3,751,193
Trade receivables 7 826 5,439 2,110 7,182
Taxes recoverable - 7,664 7,612 26,512 26,436 Noncurrent
Prepaid income tax and social contribution 19 - - 4,851 4,851 Loans and borrowings 14 199,601 249,514 6,952,233 7,717,093
Judicial deposits 17 5,434 4,858 8,053 6,460 Debentures 15 3,750,216 3,739,288 5,781,505 5,978,107
Deferred income tax and social contribution 19 155,096 146,393 161,246 154,427 Derivative financial instruments 4 - - 681,507 102,146
Other credits - 2,714 1,980 16,190 14,493 Tax liabilities - 1,926 - 1,926 2,058
Total long-term assets 195,864 166,282 254,622 252,630 Right-of-use leases 16 115,518 80,811 311,744 304,983
Leases payable - - - 3,189 7,390
Investments 9 6,533,338 5,461,004 1,188 1,191 Provision for judicial and administrative litigation 17 298 304 5,307 4,712
Property and equipment 10 273,894 151,453 12,833,830 12,140,029 Deferred income tax and social contribution 19 - - 551,177 550,758
Intangible assets 11 3,224 2,500 181,788 175,044 Other payables and advances - 86,846 54,503 12,649 12,941
Total noncurrent assets 7,006,320 5,781,239 13,271,428 12,568,894 Total noncurrent liabilities 4,154,405 4,124,420 14,301,237 14,680,188
Equity
Share capital 20.1 2,590,776 2,590,702 2,590,776 2,590,702
Treasury shares 20.2 (12,649) (12,639) (12,649) (12,639)
Capital reserve 20.5 61,633 61,633 61,633 61,633
Equity valuation adjustments 4.4 e 9 (516,528) (269,184) (516,528) (269,184)
Revenue reserves 20.6 1,118,054 913,960 1,118,054 913,960
Total equity 3,241,286 3,284,472 3,241,286 3,284,472
-
Total assets 8,126,676 8,053,089 20,955,436 21,715,853 Total liabilities and equity 8,126,676 8,053,089 20,955,436 21,715,853

The accompanying notes are an integral part of this individual and consolidated quarterly information. 4/61
Statements of profit or loss
Three-month periods ended March 31, 2022 and 2021
(In thousands of Brazilian Reais, unless otherwise stated)

Parent Company Consolidated

Note
03/31/2022 03/31/2021 03/31/2022 03/31/2021
Net revenue from leases, rendering services and sale of assets used in services rendered 21 203,783 132,978 1,965,791 804,889
(-) Cost of leases, rendering services and sale of assets used in services rendered 21 (108,677) (98,108) (1,080,875) (405,960)
(=) Gross profit 95,106 34,870 884,916 398,929
Selling expenses 22 (1,973) (1,196) (103,490) (58,135)
Administrative expenses 22 - (14,212) (89,743) (65,230)
(Reversal) provision for expected credit losses (impairment) of trade receivables 22 (229) (450) (10,547) (6,325)
Other operating (expenses) income, net 22 (2,060) (1,042) (30,851) (26,915)
Equity results from subsidiaries 9 246,222 113,442 - -
Operating income (expenses), net 241,960 96,542 (234,631) (156,605)
Profit before finance income and expenses and taxes 337,066 131,412 650,285 242,324
Finance income 23 51,359 3,898 107,671 188,526
Finance expenses 23 (149,513) (39,433) (394,958) (265,184)
Financial result, net (98,154) (35,535) (287,287) (76,658)
(=) Profit before income tax and social contribution 238,912 95,877 362,998 165,666
Income tax and social contribution - current 19 - - (1,346) (328)
Income tax and social contribution - deferred 19 19,182 13,604 (103,558) (55,857)
Income tax and social contribution, net 19,182 13,604 (104,904) (56,185)
Profit for the year 258,094 109,481 258,094 109,481
(=) Basic earnings per share (in R$) 26 0.7143 0.3671
(=) Diluted earnings per share (in R$) 26 0.7127 0.3653

The accompanying notes are an integral part of this individual and consolidated quarterly information. 5/61
Statements of comprehensive income
Three-month periods ended March 31, 2022 and 2021
(In thousands of Brazilian Reais)

Parent Company Consolidated

Note
03/31/2022 03/31/2021 03/31/2022 03/31/2021
Net income for the period - 258,094 109,481 258,094 109,481
Losses on the Parent Company’s cash flow hedge 4.4 (6,589) - (6,589) -
Income tax and social contribution on the Parent Company's cash flow hedge 19 2,240 - 2,240 -
Losses on cthe subsidiaries’ cash flow hedge 4.4 (368,174) (138,997) (368,174) (138,997)
Income tax and social contribution on the subsidiaries’ cash flow hedge 19 125,179 47,450 125,179 47,450
Items that will be subsequently reclassified to profit or loss for the period (247,344) (91,547) (247,344) (91,547)

Total comprehensive income for the year 10,750 17,934 10,750 17,934

The accompanying notes are an integral part of this individual and consolidated quarterly information. 6/61
Statements of changes in equity
For the three-month periods ended March 31, 2022 and 2021
(In thousands of Brazilian Reais)

Revenue reserves
Share Treasury Capital Equity valuation Legal Investment Earnings Retained
Note Total equity
capital shares reserves adjustments reserve reserve reserve earnings

At December 31, 2021 2,590,702 (12,639) 61,633 (269,184) 74,701 729,900 109,359 - 3,284,472
Profit for the period 26 - - - - - - - 258,094 258,094
Loss on financial instruments, net of taxes 4.4 - - - (4,349) - - - - (4,349)
Loss on financial instruments, from subsidiaries 4.4 - - - (242,995) - - - - (242,995)
Total comprehensive income for the period, net of taxes 2,590,702 (12,639) 61,633 (516,528) 74,701 729,900 109,359 258,094 3,295,222
IPO costs, net of deferred taxes 19 74 - - - - - - - 74
Repurchase of shares - - (10) - - - - - - (10)
Result in the variation of equity interest 9 - - - 9,580 - - - - 9,580
Result in the variation of equity interest, from subsidiaries 9 - - - (9,580) - - - - (9,580)
Interest on capital 20.8 - - - - - - - (54,000) (54,000)
At March 31, 2022 2,590,776 (12,649) 61,633 (516,528) 74,701 729,900 109,359 204,094 3,241,286

At December 31, 2020 2,009,942 (23,306) 60,863 (407) 33,729 168,500 109,359 - 2,358,680
Profit for the period 26 - - - - - - - 109,481 109,481
Other comprehensive income (loss) for the period, net of taxes - - - - (91,547) - - - - (91,547)
Total comprehensive income for the period, net of taxes 2,009,942 (23,306) 60,863 (91,954) 33,729 168,500 109,359 109,481 2,376,614
Repurchase of shares - - (71) - - - - - - (71)
Share-based payment transaction - - - 8 - - - - - 8
Interest on capital - - - - - - - (27,000) - (27,000)
At March 31, 2021 2,009,942 (23,377) 60,871 (91,954) 33,729 168,500 82,359 109,481 2,349,551

The accompanying notes are an integral part of this individual and consolidated quarterly information. 7/61
Statements of cash flows - indirect method
Three-month periods ended March 31, 2022 and 2021
(In thousands of Brazilian Reais)
Parent Company Consolidated
Note
03/31/2022 03/31/2021 03/31/2022 03/31/2021
Cash flows from operating activities
Profit before income tax and social contribution 19 238,912 95,877 362,998 165,666
Amortization of fair value surplus of vehicles of acquired companies 9 - 34 - -
Depreciation and amortization 22 36,549 56,092 212,837 62,178
Cost of sale of assets used in lease and services rendered 18 10,944 1,041 715,585 214,626
Expected credit losses from trade receivables 22 229 450 10,547 6,325
Losses (gains) on write-offs of assets and liabilities - Losses arising from write-offs by accident - 2,380 218 57,880 62,158
Provision (reversal of provision) for judicial and administrative litigation 17 - - 595 (169)
Equity in results of investees 9 (246,222) (113,442) - -
Share-based payment - - 8 - 8
Transactions with derivative financial instruments 4 (4,308) - 496,805 (11,823)
Interest/indexation accruals on loans and borrowings, debentures, right-of-use leases and supplier financing - car manufacturers 3 144,228 37,794 (777,189) 262,072
182,712 78,072 1,080,058 761,041
Decrease (increase) in assets and liabilities
Trade receivables 7 (16,899) (6,367) (201,315) 4,306
Trade payables 13 11,826 4,803 38,902 20,286
Labor and tax liabilities, and taxes recoverable - (6,606) 6,719 (51,718) 1,938
Other current and noncurrent assets and liabilities - (11,755) 37,089 (91,869) (14,494)
Changes in current and noncurrent assets and liabilities (23,434) 42,244 (306,000) 12,036
159,278 120,316 774,058 773,077

Income tax and social contribution paid - (9,110) - 1,496 (9,641)

14, 15
Interest paid on loans and borrowing, debentures, right-of-use leases and supplier financing - car manufacturers (115,852) (31,347) (341,727) (103,650)
and 16
Acquisition of property and equipment for leasing, cash disbursed 10 (269) - (2,533,109) (997,344)
Investments in marketable securities and financial investments 6 1,264,941 704,519 2,893,360 (2,961,094)
Net cash generated by (used in) operating activities 1,298,988 793,488 796,460 (3,298,652)

Cash flow from investing activities

Acquisition of investments through purchase of company - (9,473) (34,725) (9,473) (30,775)
Cash assumed on the merger of subsidiaries - 871 - - -
Dividends and interest on capital received 20.8 - 21,595 - -
Advance for future capital increase and capital increase in investee 9 (1,131,329) (840,495) - -
Acquisition of property and equipment for investment and intangible assets 10 and 11 (789) - (45,495) (26,662)
Net cash used in investing activities (1,140,720) (853,625) (54,968) (57,437)

Cash flow from financing activities

Share issue costs - 74 - 74 -
Repurchase of shares 9 (10) (71) (10) (71)
Dividends and interest on capital paid 20.8 (39,311) - (39,311) -
Proceeds from derivatives - (5,667) - (130,935) -
New loans, borrowings and debentures 14 - 400,000 466,500 5,530,012
14, 15
Payment of loans and borrowings, debentures, supplier financing - car makers and right-of-use leases (85,362) (348,932) (277,937) (1,355,948)
and 16
Net cash generated by (used in) financing activities (130,276) 50,997 18,381 4,173,993
Net increase (decrease) in cash and cash equivalents 27,992 (9,140) 757,491 817,904

Cash and cash equivalents

At the beginning of the year - 2,711 12,852 146,030 68,647
At the end of the year - 30,703 3,712 903,521 886,551
Net increase (decrease) in cash and cash equivalents 27,992 (9,140) 757,491 817,904

Supplementary cash flow information

Acquisition of property and equipment:
Right-of-use lease of property and equipment (223,489) (115,224) (43,232) (160,981)
Outstanding suppliers financing - car manufacturers - - 629,986 -

The accompanying notes are an integral part of this individual and consolidated quarterly information.8/61
Statements of value added
For the three-month periods ended March 31, 2022 and 2021
(In thousands of Brazilian Reais)
Parent Company Consolidated
Note
03/31/2022 03/31/2021 03/31/2022 03/31/2021
Revenues generated
Sales and rendering services 21 224,230 148,423 2,090,145 876,312
Expected credit losses from trade receivables 22 (229) (450) (10,547) (6,325)
Other operating income 22 17 228 29,450 34,521
224,018 148,201 2,107,923 904,508
Inputs acquired from third parties
Cost of sales and rendering services 21 (83,408) (54,552) (959,892) (407,711)
Materials, electric power, services provided by third parties and others - (135) (6,503) (176,056) (90,282)
(83,543) (61,055) (1,135,948) (497,993)
Gross value added 140,475 87,146 973,100 406,515
Retentions
Depreciation and amortization 22 (36,549) (56,092) (212,836) (62,178)
Net value added produced 103,926 31,054 760,264 344,337
Value added received through transfer
Equity results from subsidiaries 9 246,222 113,442 - -
Finance income 23 51,917 3,905 108.366 188,984
298,139 117,347 108.366 188,984
Total value added to distribute 402,065 148,401 868.630 533,321

Value added distributed

Personnel
Salaries and wages - 336 9,268 70,619 50,303
Benefits - 479 261 10,146 6,729
Severance pay fund (FGTS) - 334 204 6,128 3,422
Other - 1,683 310 4,811 2,553
2,832 10,043 91,704 63,007

Taxes and contributions -

Federal taxes - (7,016) (9,404) 74,405 70,503
State taxes - 164 51 38,930 18,095
Municipal taxes - 1 1 1,741 932
(6,851) (9,352) 115,076 89,530

Remuneration of third party capital

Interest and finance expenses 23 147,910 39,263 391,721 265,184
Rentals - 80 (1,034) 12,035 6,119
147,900 38,229 403,756 271,303

Remuneration of own capital

Interest on capital - 54,000 27,000 54,000 27,000
Distribution of dividends - 204,094 82,481 204,094 82,481
258,094 109,481 258,094 109,481
Total value added distributed 402,065 148,401 868,630 533,321

The accompanying notes are an integral part of this individual and consolidated quarterly information.9/61
 Notes to the quarterly information
For the three-month periods ended March 31, 2022 and 2021
(In thousands of Brazilian Reais, unless otherwise stated)

1. OPERATIONS

Movida Participações S.A. (the "Company" or the "Parent Company") is a publicly-traded corporation listed
under the ticker symbol MOVI3 in the New Market segment of B3 S.A. – Brasil, Bolsa, Balcão – “B3”), being the
highest level of corporate governance in the Brazilian capital market. The Company’s registered address is at
1017 Renato Paes de Barros street, 9th floor, São Paulo,

Movida Participações S.A. and its subsidiaries (hereinafter referred to as “Movida” or the “Group”) operate in
the light vehicle rental (“rent-a-car” or “RAC”), light vehicle fleet management and outsourcing (“GTF”) segments.
Movida continuously renews its fleet selling and replacing its vehicles at or near the end of their economically
useful lives.

Movida also incorporates Movida Europe, a nonresident legal entity not otherwise allocated to a segment
engaged in raising funds through the issuance of Senior Notes (Bonds).

At March 31, 2022, Movida had 298 company-owned stores, of which 217 were car rental points and 81 were
pre-owned car stores (285 company-owned stores, of which 207 car rental points and 78 were pre-owned car
stores at December 31, 2021), distributed across 106 cities in Brazil, on the high street and at airports, operating
a fleet of 192,942 vehicles (186,974 vehicles at December 31, 2021 in 102 cities in Brazil).

1.1. Merger of companies

On December 30, 2021, the Extraordinary General Meeting of Movida Participações S.A. approved the merger
of its subsidiaries Movida Locação de Veículos Premium Ltda. and Vox Frotas Locadora S.A., the purpose of
the merger is to obtain administrative and economic benefits streamlining and rationalizing operating costs and
activities developed by the companies.

The merger was approved as of January 1, 2022. Below we show the accounting balances of the subsidiaries
at January 1, 2022 and the balance of the parent company after the merger:
Movida Participações Vox Frotas Movida Premium at Movida Participações after
Merger of balances at 01/01/2022
at 01/01/2022 01/01/2022 01/01/2022 merger

Assets
Cash and cash equivalents 2,711 406 465 3,582
Marketable securities and financial investments 2,030,259 23,481 24,052 2,077,792
Trade receivables 142,199 1,748 1,120 145,067
Property and equipment 151,453 67,413 2,170 221,036
Investments 5,461,004 - - 5,461,004
Dividends receivable 31,924 - - 31,924
Deferred income tax and social contribution 146,393 - 163 146,556
Other assets 87,146 4,984 1,827 93,958
Total assets 8,053,089 98,032 29,797 8,180,919

Liabilities and equity

Trade payables 36,421 659 950 38,030
Loans and borrowings 318,205 - - 318,205
Debentures 4,026,469 - - 4,026,469
Dividends payable and interest on capital 127,773 647 718 129,138
Deferred income tax and social contribution - 12,901 - 12,901
Other liabilities 259,749 3,051 184 262,984
Equity 3,284,472 80,774 27,946 3,393,192
Total liabilities and equity 8,053,089 98,032 29,798 8,180,919

1.2. Acquisition of Marbor Frotas Corporativas Ltda.

On December 16, 2021, Movida signed a purchase and sale agreement for the acquisition of all Marbor's shares
for R$130,000, to be adjusted for net debt and other usual adjustments for this type of transaction, on the
transaction closing date, which will occur upon the conclusion of certain usual conditions precedent.

Of the agreed price, R$ 65,000 will be paid in cash on the closing date and the remaining amount will be paid
one year after transaction close.

10/61
 Marbor has operating in Fleet Management and Outsourcing since 1996. The transaction will contribute 1.8
thousand vehicles under lease contracts, which have an average age of approximately 1.4 years and are
distributed among over 100 corporate customers with contracts averaging 2.7 years.

On April 4, 2022, the transaction was completed and the Company took over control of the operation.

Given that the transaction was completed in April 2022, the acquisition reports are still being prepared.

1.3. Situation Ukraine and Russia

The Company has monitored the developments of the conflict between Ukraine and Russia and as it does not
have any type of direct relationships with customers or suppliers of these countries, the main economic impacts
are related to the rise in commodity price, especially those related to natural gas and oil, due to the rise in fuel
prices in Brazil. Management has not identified impacts on these financial statements and does not expect
material effects on the performance of its activities and on its financial position arising from the scenario
described.

1.4. Sustainability and environment

Movida is committed to its role of maintaining and implementing initiatives aimed at environmental, social and
governmental sustainability, and seeks to assess the corresponding risks which may affect its wider community
and, in particular, its operations and business.

A Sustainability Committee linked to the Board of Directors was created, to which the actions taken to mitigate
the identified risks are reported on a quarterly basis. It is led by a director and an independent member, drawing
executives from its parent company Grupo SIMPAR, who meet bimonthly, in order to ensure that sustainability
continuously permeates the management and decision-making processes.

Socio and Environmental Responsibility

Among the impacts arising from the operations of its portfolio, Movida understands that the development of its
activities is directly linked to sustainable growth through measures to preserve its ecosystem.

This is incorporated into the Sustainability Policy, with a focus on strategic discussions, covered monthly by the
sustainability committees and presented quarterly to the Board of Directors.

The Company's main areas in this regard include the Greenhouse Gas Emissions Program (GHG). The objective
is to measure the real environmental impact of the business, through an emissions inventory based on the
international methodology of the GHG Protocol. Hence, the Company continually raises awareness as to the
rational use of fuels, continuous fleet renewal seeking more fuel efficient vehicles to reduce greenhouse gas
emissions.

Climate risk management

The automotive sector affects the environment and contributes to climate change due to the consumption of
carbon based fuels with resultant atmospheric emissions. As a response, a strategic plan for the decarbonization
of Movida was implemented, which includes the following goals:

• Acquisition of electric vehicles;

• Migration from gasoline to ethanol fuels;
• Incentives to encourage and guarantee the use of ethanol as a substitute for gasoline;
• Telemetry technology for most of the fleet, promoting better driver performance, reducing fuel consumption;
• Higher share of renewable energy sources in the energy matrix to reduce emissions;;
• Operating optimization, seeking efficiency, investing in better technologies and maintenance.

Engagement in climate change

Movida considers its role in the promotion of good practices essential to its wider communities. Seeking to
optimize drivers good practices to encourage sustainability, the Company has its own programs that seek to
assist its customers in mapping emissions offering opportunities to reduce/neutralize carbon emissions.
11/61
 Management has evaluated all information and has not identified any effects on the financial statements.

2. BASIS OF PREPARATION AND PRESENTATION OF THE INDIVIDUAL AND CONSOLIDATED

QUARTERLY INFORMATION

2.1. Statement of compliance (International Financial Reporting Standards - IFRS and the Brazilian
Accounting Pronouncements Committee - CPC)

The individual and consolidated quarterly information has been prepared in accordance with Technical
Pronouncement CPC 21 (R1) – “Interim Statements” and IAS 34 - “Interim Financial Reporting”, issued by the
International Accounting Standards Board (“IASB”) and presented according to the standards issued and
approved by the Securities Commission of Brazil (“CVM”), applicable to the preparation of Quarterly Information
(“QI”).

In view of differences between Brazilian and international accounting practices related to unrealized results,
specifically from operations with companies under common control, from January 1, 2019, the Company began
presenting its individual quarterly accounting information only in accordance with the accounting practices
adopted in Brazil (“BR GAAP”).

The consolidated quarterly information as of March 31, 2022 remains presented in accordance with BRGAAP
and in accordance with IFRS.

This individual and consolidated quarterly information contains selected explanatory notes containing material
and relevant corporate information to provide an understanding of the changes in Movida’s financial position
and performance since the most recent individual and consolidated annual financial statements. Therefore, this
quarterly information should be read in conjunction with the Company’s individual and consolidated financial
statements for the year ended December 31, 2021, published on February 21, 2022.

All information of significance to the individual and consolidated quarterly information is being disclosed and is
consistent with that used by Management in the performance of its duties.

This individual and consolidated quarterly information was approved and authorized for issuance by the
Executive Board on April 28, 2022.

2.2. Statement of value added (“DVA”)

The preparation of individual and consolidated statements of value added (“DVA”) is required by the Brazilian
corporate legislation and the accounting practices adopted in Brazil applicable to listed companies.

The international financial reporting standards (IFRS) do not require the presentation of such statement.
Accordingly, under the IFRS this statement is presented as supplementary information, without prejudice to the
set of individual and consolidated quarterly information.

2.3. Functional and presentation currency

This individual and consolidated quarterly information is presented in Brazilian Reais (“R$”), which is the
functional currency of Movida and its subsidiaries. All amounts have been rounded to the nearest thousand,
unless otherwise indicated.

2.4. Foreign currency-denominated transactions

Foreign currency transactions are translated into Brazilian Reais using the exchange rates prevailing at the
dates of the transactions or the dates of valuation when items are remeasured.

Foreign exchange gains and losses that relate to financial assets and liabilities, such as loans and borrowings,
cash and cash equivalents and marketable securities indexed in a currency other than the Brazilian Real, are
presented in the statement of profit or loss as finance income or expenses.
12/61
2.5. Equity interest and basis of consolidation

The individual and consolidated quarterly information at March 31, 2022 and December 31, 2021 includes the
operations of the Parent Company and its subsidiaries. The equity interests at year end were as follows:

% Direct interest
Corporate name Trade name Domicile
03/31/2022 12/31/2021
Movida Locação de Veículos S.A. “Movida RAC” Brazil 100.00 100.00
Movida Locação de Veículos Premium Ltda. (i) “Movida Premium” Brazil 0.00 100.00
Movida Finance S.A. “Movida Finance” Luxembourg 100.00 100.00
Movida Europe S.A. “Movida Europe” Luxembourg 100.00 100.00
Vox Frotas Locadora S.A. (i) “Vox Frotas" Brazil 0.00 100.00
CS Brasil Participações e Locações S.A. “CS Participações" Brazil 100.00 100.00
CS Brasil Frotas S.A.(ii) “CS Frotas" Brazil 20.25 20.25

% Indirect interest
Corporate name Trade name Domicile
03/31/2022 12/31/2021
CS Brasil Frotas Ltda. (ii) “CS Frotas" Brazil 79.75 79.75

(i) Movida Locação de Veículos Premium Ltda. and Vox Frotas Locadora S.A. were merged on January 1, 2022. For more details, see the note on Operations.
(ii) Equity interest due to debentures convertible into shares of CS Frotas acquired by Movida Participações.

2.6. Basis of consolidation

The following accounting policies have been applied consistently in the preparation of the individual and
consolidated quarterly information.

Subsidiaries:

The Group controls an entity when it is exposed to, or has rights to, variable returns on its involvement with the
entity and has the ability to affect those returns through its power over the entity. The quarterly information of
subsidiaries is included in the consolidated quarterly information from the date on which the Group obtains
control until the date on which control ceases.

In the Parent company's individual quarterly information, the financial information of subsidiaries is accounted
for using the equity method.

Transactions eliminated on consolidation

Intra-group balances and transactions, and any unrealized income and expenses arising from intra-group
transactions, are eliminated. Unrealized gains arising from transactions with equity-accounted investees are
eliminated against the investment to the extent of the Group’s interest in the investee. Unrealized losses are
eliminated in the same way as unrealized gains, but only to the extent that there is no evidence of impairment.

2.7. Fair value measurement

The fair value is the price that would be received for the sale of an asset or paid to transfer a liability in an orderly
transaction between market participants at the measurement date in the principal market or, in its absence, the
most advantageous one to which Movida has access at that date. The fair value of a liability reflects its non-
performance risk, which includes, among others, Movida’s own credit risk.

When available, Movida measures the fair value of an instrument using the quoted price in an active market. A
market is regarded as active if transactions involving the asset or liability take place with sufficient frequency
and volume to provide reliable pricing information on an ongoing basis.

If there is no quoted price in an active market, then Movida uses valuation techniques that maximize the use of
relevant observable inputs and minimize the use of unobservable inputs. The chosen valuation technique should
incorporate all of the factors that market participants would take into account when pricing a transaction.

13/61
 If an asset or liability measured at fair value has a purchase price and a sales price, Movida measures these
assets based on the purchase price and the liabilities based on the sales price.

The best evidence of the fair value of a financial instrument upon its initial recognition is normally the transaction
price – i.e. the fair value of the consideration given or received. If Movida determines that the fair value upon
initial recognition differs from the transaction price, and the fair value is evidenced neither by a quoted price in
an active market for an identical asset or liability nor a valuation technique for which the use of unobservable
inputs is judged to be insignificant in relation to the measurement as a whole, then the financial instrument is
initially measured at fair value, adjusted to defer the difference between the fair value upon initial recognition
and the transaction price. Subsequently, that difference is recognized in profit or loss on an appropriate basis
over the life of the instrument, but no later than when the valuation is wholly supported by observable market
data or the transaction is closed out, whichever occurs first.

See details on the classification and disclosure of Movida's financial instruments in Note 4.2.

2.8. Use of critical accounting estimates, judgments and assumptions

In the preparation of this quarterly information, Management has made judgments, estimates and assumptions
that affect the application of accounting policies and the reported amounts of assets, liabilities, income and
expenses. Actual results may differ from these estimates,

which are reviewed on an ongoing basis. Revisions to estimates are recognized prospectively.

2.8.1. Judgments

The accounting estimates and underlying judgments are reviewed on an ongoing basis through historical
experience and other factors that are considered to be reasonable in the circumstances.

Cash flow statements – Indirect method (securities and short-term investments): Movida classifies bonds,
securities and short-term investments as operating activities due to their short term nature to settle suppliers
and debts. These amounts are not invested for long-term investments and are used in the Company’s operating
cycle.

2.8.2. Critical accounting estimates and assumptions

Based on assumptions, the Group makes estimates concerning the future. The resulting accounting estimates
will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant
risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial
year are addressed below:

a) Acquisition of subsidiary: Measurement of the fair value of the consideration transferred (including
contingent consideration) and fair value of the assets acquired and liabilities assumed – Note 1;
b) Deferred income tax and social contribution – recognition of deferred tax assets: availability of future
taxable profit against which the deductible temporary differences and tax losses can be used – Note
19.1;
c) Property and equipment (definition of residual value and useful life) - Note 10;
d) Fixed assets available for sale – definition of residual value – Note 8;
e) Impairment losses of intangible assets – impairment test of intangible assets and goodwill: key
assumptions regarding recoverable amounts - Note 11;
f) Expected credit losses from trade receivables: measurement of expected credit losses from trade
receivables and contract assets: key assumptions in determining the weighted average rate of loss -
Note 7.1.

3. OPERATING SEGMENTS

Operating segments are defined as components that develop business activities: (i) from which they can earn
revenues and incur expenses; (ii) whose operating results are regularly reviewed by the chief operating officer
responsible for deciding on resources to be allocated to the segment and for evaluating its performance; and
(iii) to which individual financial information is available.

14/61
The operating segments were defined based on reports used for strategic decision-making by the chief decision-
makers. Movida has two operating business segments subject to disclosure of information:

Rent a car (RAC): segment responsible for car rental in stores located inside and outside airports. Rentals are
contracted by individuals and companies. There are also rentals to insurance companies that offer hire cars to
their customers in case of claims.

As part of the fleet renewal program, Movida retires the cars and sells them after a period of use from 15 to 18
months, and a significant part is sold to final customers through used car stores spread across the country.

Fleet Management and Outsourcing (GTF): segment responsible for the management of fleets for companies
for long periods, generally 24 to 36 months. Cars are purchased after signing the agreements according to each
customer’s needs, and at the end of these agreements, cars are retired. These vehicles are sold at point-of-
sales and for resellers spread across the country.

The Company's management information is evaluated by the financial management on a monthly basis based
on this segment structure.

No customer accounted for more than 10% of the operating revenue for the periods ended March 31, 2022 and
2021.

15/61
1.1. Financial information by operating segment

The individual financial position by operating segment reconciled with the consolidated financial position are as follows:

Rent a Car GTF Not allocated (i) Consolidated

Assets
03/31/2022 12/31/2021 03/31/2022 12/31/2021 03/31/2022 12/31/2021 03/31/2022 12/31/2021
Current assets
Cash and cash equivalents - - - - 903,951 146,030 903,521 146,030
Marketable securities and financial investments - - - - 4,747,063 7,640,423 4,747,063 7,640,423
Trade receivables 842,365 680,966 233,359 198,919 - - 1,075,724 879,885
Fixed assets available for sale 490,780 212,350 120,406 93,681 - - 611,186 306,031
Other assets 239,924 100,072 106,590 74,517 - - 346,514 174,589
1,573,069 993,388 460,355 367,117 5,650,584 7,786,453 7,684,008 9,146,958
Noncurrent assets
Property and equipment, net 7,460,150 6,906,396 5,373,680 5,233,633 - - 12,833,830 12,140,029
Intangible assets 155,026 152,890 26,762 22,154 - - 181,788 175,044
Other assets 632,716 664,397 (376,906) (410,576) - - 255,810 253,821
8,247,892 7,723,683 5,023,536 4,845,211 - - 13,271,428 12,568,894
Total assets 9,820,961 8,717,072 5,483,891 5,212,328 5,650,584 7,786,453 20,955,436 21,715,853

Rent a Car GTF Not allocated (i) Consolidated

Liabilities
03/31/2022 12/31/2021 03/31/2022 12/31/2021 03/31/2022 12/31/2021 03/31/2022 12/31/2021
Current liabilities
Trade payables 1,402,984 1,735,468 322,624 581,284 - - 1,725,608 2,316,752
Loans, borrowings and debentures 401,490 - 27,537 - 696,089 925,925 1,125,116 925,925
Other liabilities 245,536 279,365 316,653 229,151 - - 562,189 508,516
2,050,010 2,014,833 493,822 810,435 696,089 925,925 3,442,272 3,751,193
Noncurrent liabilities
Loans, borrowings and debentures - - - - 13,415,245 13,804,736 13,415,245 13,804,736
Tax provisions - - - - 551,177 550,758 551,177 550,758
Other liabilities 352,192 280,151 17,377 44,543 - - 334,815 324,694
352,192 280,151 17,377 44,543 13,966,422 14,355,494 14,301,237 14,680,188
Equity - - - - 3,241,286 3,284,472 3,241,286 3,284,472

Total liabilities 2,402,202 2,294,984 649,437 854,978 17,903,797 18,565,891 20,955,436 21.715.853

(i) Amounts not allocated directly to one of the segments as they are administered centrally.

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1.2. Statement of profit or loss per operating segment

Rent a Car GTF Consolidated

03/31/2022 03/31/2021 03/31/2022 03/31/2021 03/31/2022 03/31/2021
Net revenue from leases, rendering services and sale of assets used in services rendered 1,456,972 565,787 508,819 239,102 1,965,791 804,889
(-) Cost of leases, services rendered and sale of assets used in services rendered without depreciation (729,813) (253,950) (156,477) (98,748) (886,290) (352,698)
(-) Depreciation and amortization costs (107,750) (34,528) (86,835) (18,734) (194,585) (53,262)
Gross profit 619,409 277,309 265,507 121,620 884,916 398,929
General and administrative expenses without depreciation and amortization (173,378) (122,350) (43,002) (25,338) (216,380) (147,689)
Depreciation and amortization expenses (12,270) (7,804) (5,981) (1,112) (18,251) (8,916)
Operating income 433,761 147,155 216,524 95,170 650,285 242,324
Finance result (287,287) (76,658)
Profit before income tax and social contribution 362,998 165,666
Current and deferred income tax and social contribution (104,904) (56,185)
Profit for the period 258,094 109,481

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4. FINANCIAL INSTRUMENTS AND RISK MANAGEMENT

4.1. Financial assets

Movida's financial instruments are presented in the following accounting classifications:

4.2. Financial instruments by category

Movida's financial instruments are presented below, allocated according to their accounting classifications:
Parent Company
03/31/2022 12/31/2021
Fair value Fair value Fair value of
through Amortized cost Total through profit hedge Amortized cost Total
profit or loss or loss instruments
Assets
Cash and cash equivalents - 30,703 30,703 - - 2,711 2,711
Marketable securities and financial investments 812,851 - 812,851 2,030,259 - - 2,030,259
Trade receivables - 161,737 161,737 - - 142,199 142,199
Dividends receivable - 30,560 30,560 - - 31,924 31,924
Derivative financial instruments - 24,130 24,130 - - - -
Other credits - 37,630 37,630 - - 43,478 43,478
Total 812,851 284,760 1,097,611 2,030,259 - 220,312 2,250,571
Liabilities
Trade payables - 49,189 49,189 - - 36,421 36,421
Loans and borrowings - 273,629 273,629 - - 318,205 318,205
Debentures - 4,049,105 4,049,105 - - 4,026,469 4,026,469
Derivative financial instruments - - - - 6,793 - 6,793
Payables for the acquisition of companies - - - - - 9,473 9,473
Right-of-use leases - 224,364 224,364 - - 153,456 153,456
Dividends payable - 135,168 135,168 - - 127,773 127,773
Other payables - 101,277 101,277 - - 68,048 68,048
Total - 4,832,732 4,832,732 - 6,793 4,739,845 4,746,638

Consolidated
03/31/2022 12/31/2021
Fair value
Fair value of Fair value Fair value of
through Amortized Amortized
hedge Total through profit hedge Total
profit or cost cost
instruments or loss instruments
loss
Assets
Cash and cash equivalents - - 903,520 903,520 - - 146,030 146,030
Marketable securities and financial investments 4,747,063 - - 4,747,063 7,640,423 - - 7,640,423
Trade receivables - - 1,077,835 1,077,835 - - 887,067 887,067
Derivative financial instruments - 35,660 - 35,660 - 38,781 - 38,781
Dividends receivable - - 30,560 30,560 - - 31,924 31,924
Other credits - - 165,952 165,952 - - 65,347 65,347
Total 4,747,063 35,660 2,177,867 6,960,590 7,640,423 38,781 1,130,368 8,809,572
Liabilities
Trade payables - - 1,725,608 1,725,608 - - 2,316,752 2,316,752
Loans and borrowings - - 7,184,438 7,184,438 - - 7,967,124 7,967,124
Debentures - - 6,245,390 6,245,390 - - 6,345,395 6,345,395
Derivative financial instruments - 1,110,534 - 1,110,534 - 373,021 - 373,021
Payables for the acquisition of companies - - - - - - 9,473 9,473
Right-of-use leases - - 420,011 420,011 - - 408,027 408,027
Leases payable - - 28,917 28,917 - - 45,121 45,121
Dividends payable - - 137,516 137,516 - - 130,121 130,121
Other payables - - 197,265 197,265 - - 194,714 194,714
Total - 1,110,534 15,939,145 17,049,679 - 373,021 17,416,727 17,789,748

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4.3. Fair value of financial assets and liabilities

A comparison by category of the carrying amount and fair value of Movida’s financial instruments is shown
below:

Parent company
03/31/2022 12/31/2021
Carrying amount Fair value Carrying amount Fair value
Financial assets
Cash and cash equivalents 30,703 30,703 2,711 2,711
Marketable securities and financial investments 812,851 812,851 2,030,259 2,030,259
Trade receivables 161,737 161,737 142,199 142,199
Derivative financial instruments 24,130 24,130 - -
Dividends receivable 30,560 30,560 31,924 31,924
Other credits 37,630 37,630 43,478 43,478
Total 1,097,611 1,073,481 2,250,571 2,250,571
Financial liabilities
Trade payables 49,189 49,189 36,421 36,421
Loans and borrowings 273,629 249,984 318,205 299,978
Debentures 4,049,105 4,058,924 4,026,469 3,975,742
Derivative financial instruments - - 6,793 6,793
Right-of-use leases 224,364 224,364 153,456 153,456
Payables for the acquisition of companies - - 9,473 9,473
Dividends payable 135,168 135,168 127,773 127,773
Other payables 101,277 101,277 68,048 68,048
Total 4,832,732 4,818,906 4,746,638 4,677,684

Consolidated
03/31/2022 12/31/2021
Carrying amount Fair value Carrying amount Fair value
Financial assets
Cash and cash equivalents 903,520 904,520 146,030 146,030
Marketable securities and financial investments 4,747,063 4,747,063 7,640,423 7,640,423
Trade receivables 1,077,835 1,077,835 887,067 887,067
Derivative financial instruments 35,660 35,660 38,781 38,781
Dividends receivable 30,560 30,560 31,924 31,924
Other credits 165,952 165,952 65,347 65,347
Total 6,960,590 6,960,590 8,809,572 8,809,572

Financial liabilities
Trade payables 1,725,608 1,725,608 2,316,752 2,316,752
Loans and borrowings 7,184,438 7,529,839 7,967,124 8,298,966
Debentures 6,245,390 6,197,474 6,345,395 5,245,118
Derivative financial instruments 1,110,534 1,110,534 373,021 373,021
Right-of-use leases 420,011 420,011 408,027 408,027
Leases payable 28,917 29,230 45,121 45,121
Payables for the acquisition of companies - - 9,473 9,473
Dividends payable 137,516 137,516 130,121 130,121
Other payables 197,265 197,265 194,714 194,714
Total 17,049,679 17,347,477 17,789,748 17,021,313

The fair values of financial assets and liabilities are measured in accordance with the following categories:

● Level 1 - Quoted prices (unadjusted) in active markets for identical assets and liabilities; and

● Level 2 - Quoted prices in active markets for similar instruments, observable prices for identical or
similar instruments in non-active markets and valuation models for unobservable inputs.

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 The table below presents the general classification of financial instruments, assets and liabilities, according to
the fair value hierarchy:

Parent company
03/31/2022 12/31/2021
Level 1 Level 2 Total Level 1 Level 2 Total
Assets at fair value through profit or loss
Cash and cash equivalents
Bank Deposit Certificate (CDB) - 30,106 30,106 - 2,529 2,529
Repurchase agreements - - - - 88 88
Subtotal - 30,106 30,106 - 2,617 2,617
Marketable securities and financial investments
Financial Treasury Bills (“LFT”) 587,219 - 587,219 841,359 - 841,358
National Treasury Bills (“LTN”) 198,154 - 198,154 1,188,900 - 1,188,901
Financial bills 27,478 - 27,478 - - -
Subtotal 785,373 - 812,851 2,030,259 - 2,030,259
Total 785,373 30,106 842,957 2,030,259 2,617 2,032,876
Fair value of hedging instruments
Derivative financial instruments - - - - 6,793 6,793
Subtotal - - - - 6,793 6,793
Total 785,373 30,106 842,957 2.030.259 9,410 2,037,052
Fair value of financial assets and liabilities
Loans and borrowings - 273,629 273,629 - 318,205 318,205
Debentures - 4,049,105 4,049,105 - 4,026,469 4,026,469
Total - 4,322,734 4,322,734 - 4,344,674 4,344,674

Consolidated
03/31/2022 12/31/2021
Level 1 Level 2 Total Level 1 Level 2 Total
Assets at fair value through profit or loss
Cash and cash equivalents
Bank Deposit Certificate (CDB) - 485,776 485,776 - 104,776 104,776
Repurchase agreements - 31,177 31,177 - 5,366 5,366
Subtotal - 516,953 516,953 - 110,142 110,142
Marketable securities and financial investments
Financial Treasury Bills (“LFT”) 1,116,053 - 1,116,053 1,365,163 - 1,365,163
National Treasury Bills (“LTN”) 256,605 - 256,605 1,818,406 - 1,818,406
Financial bills 32,261 - 32,261 3,162 - 3,162
American Treasury Bills 3,341,432 - 3,341,432 4,453,692 - 4,453,692
Quotas of funds - 712 712 - - -
Subtotal 4,746,351 712 4,747,063 7,640,423 - 7,640,423
Fair value of hedge instruments
Derivative financial instruments - 35,660 35,660 - 38,781 38,781
Subtotal - 35,660 35,660 - 38,781 38,781
Total 4,746,351 553,325 5,299,676 7,640,423 148,923 7,789,346

Financial instruments whose carrying amounts are equivalent to their fair values are classified at Level 2 of
the fair value hierarchy.

The valuation techniques used to measure all financial instruments assets and liabilities at fair value include:

● Quoted market prices or quotations from financial institutions or brokers for similar instruments; and

● Analysis of discounted cash flows.

The valuation curve used in the fair value measurement of agreements indexed to CDI - Interbank Deposit
Certificates at March 31, 2022 is as follows:

Interest curve - Brazil

Vertex 1M 6M 1Y 2Y 3Y 5Y 10Y
Rate (p.a.) - % 11.7% 12.6% 12.7% 11.9% 11.4% 11.2% 11.5%
Source: B3 S.A. - Brasil, Bolsa, Balcão 3/31/2022.

4.4. Financial risk management

Movida uses derivative financial instruments to hedge certain risk exposures. Movida has loans and borrowing,
debentures, trade payables, right-of-use leases, dividends and interest on capital payable, other payables and
advances, other credits, trade receivables, marketable securities and financial investments, financial
instruments and demand and short-term deposits that result directly from its operations. Movida is exposed to
the following risks resulting from financial instruments: (a) credit risk, (b) market risk and (c) liquidity risk.

Management oversees these risks with the support of the Financial Committee, which advises on the
assessment of the financial risks and recommends actions to the Board of Directors to ensure the financial
risks to Movida are governed by appropriate practices and procedures. Movida’s Financial Committee carries

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out ongoing monitoring of financial transactions to avoid high risk investments, meaning derivative instruments
other than those used for hedging known risks. Movida does not have derivative instruments or any other
assets of speculative nature.

It is the responsibility of the Board of Directors to authorize transactions involving any type of derivative
instrument, which is defined as any agreement that generates financial assets and liabilities, regardless of the
market in which they are traded or listed, or the manner of their realization.

(a) Credit risk

Credit risk involves the potential for default by a counterparty to an agreement or financial instrument, resulting
in a financial loss. Movida is exposed to credit risk on its operations (especially with regard to its receivables)
and investing activities, including investments at banks and financial institutions, derivative instruments and
other financial instruments.

● Cash and cash and cash equivalents, marketable securities and financial investments

The credit risk associated with investments at banks and financial institutions is managed by Movida's treasury
area in accordance with the guidelines approved by the Board of Directors. Surplus funds are invested only in
approved counterparties and within the limits established for each, in order to minimize the concentration of
risk and therefore mitigate potential financial losses in the event of an institution going bankrupt.

The ratings arising from the Brazilian (“Br”) and global credit risk exposure scale were taken from ratings
agencies and for presentation purposes the following standard nomenclature was used:

Nomenclature: Quality
Br AAA Prime
Br AA+, Br AA, Br AA- High Investment Grade
Br A+, Br A, Br A- High Average Investment Grade
Br BBB+, Br BBB, Br BBB- Low Average Investment Grade
Br BB+, Br BB, Br BB- Speculative Grade
Br B+, Br B, Br B- Highly Speculative Grade
Br CCC+ Speculative Degree of Substantial Risk
Br CCC Extremely Speculative Degree
Br CCC-, Br CC, Br C Speculative Degree of Moratorium with Small Expectation of Recovery
Br DDD, Br DD, Br D Speculative Degree of Moratorium

Movida’s quality and maximum credit risk exposure to cash and cash equivalents, marketable securities and
financial investments are as follows:

Parent company Consolidated

03/31/2022 12/31/2021 03/31/2022 12/31/2021
Cash on hand 520 - 10,421 529
Br AAA 19 21 375,886 34,867
Br AA+ - - - 118
Br AA 58 73 261 27
Br BB- - - - 64
Total bank deposits 77 94 376,147 35,359
Total cash on hand 597 94 386,568 35,888

Parent company Consolidated

03/31/2022 12/31/2021 03/31/2022 12/31/2021
Financial investments
Br AAA 30,099 2,602 516,927 106,726
Br AA 7 15 738 3,415
Total financial investments 30,106 2,617 517,665 110,141
Total cash and cash equivalents 30,703 2,711 904,233 146,029

Parent company Consolidated

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 03/31/2022 12/31/2021 03/31/2022 12/31/2021
Marketable securities and financial investments
Br AAA 812,851 2,030,259 4,746,351 7,640,423
Total marketable securities 812,851 782,296 4,746,351 7,640,423

● Trade receivables

Customer-related credit is reviewed at the time of contracting, subject to the procedures, controls and
established practices related to this risk. Outstanding trade receivables are monitored very closely by the
Company's Management. The need for a provision for expected credit losses from trade receivables is
analyzed monthly on an individual basis for key customers. In addition, the Company pools together similar
low-value trade receivables for the purpose of estimating the risk of loss on a consolidated basis. This
calculation is based on historical data for recent periods.

The credit analysis area assessed the credit quality of customers, taking into consideration their financial
position, past experience and other factors. Individual credit limits and risks are set
based on internal or external ratings based on a ranking of companies specialized in credit ratings in
accordance with the limits set by Management.

The credit risk concentration is limited, because Movida has a diversified customer base. All significant
transactions and customers are located in Brazil, and no customer individually accounts for more than 10% of
Movida’s revenues.

Movida's quality and maximum credit risk exposure to trade receivables are as follows:

Parent company Consolidated

03/31/2022 12/31/2021 03/31/2022 12/31/2021
Trade receivables – customers 179,817 159,089 783,671 654,387
(-) Expected credit losses from trade receivables (18,080) (16,890) (129,293) (118,756)
Trade receivables - credit card
AAA - - 423,457 351,436
Total trade receivables 161,737 94,341 1,077,835 887,067

(b) Market risk

Market risk is the risk that changes in market prices, such as exchange rates, interest rates, inflation rates and
stock prices, will affect Movida’s income or the value of its holdings of financial instruments. The market rate
involves potential fluctuations in the fair value of the future cash flows derived from a given financial instrument
in response to variations in its market prices. Market prices typically three types of risks: interest rate risk,
inflation variation risk, exchange risk and price risk, which may be related to commodities, shares, among
others. Market risk is managed to ensure that Movida keeps risk levels considered acceptable in the context
of its operations.

Currently, Movida is exposed to interest rate risk levied mainly on financial investments, marketable securities,
loans and borrowings, right-of-use leases and debentures, as well as the exchange rate variation of the Euro
and the Dollar, arising from the liability position of derivative financial instruments, and also to the variation in
inflation, levied on the remuneration of debentures.

● Interest rate risk

Interest rate risk involves potential fluctuation in the fair value of the future cash flows derived from a given
financial instrument in response to changes in market interest rates.

Movida is substantially exposed to the risk of changes in market interest rate refers mainly to cash and cash
equivalents, marketable securities and financial investments, as well as loans, borrowings, debentures, leases
payable and right-of-use leases. As a policy, the Group seeks to concentrate this risk to changes in the DI,
and uses derivatives for this purpose.

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All these transactions are conducted under the guidelines established by the financial committee, and are
approved by the Board of Directors.. Movida seeks to apply the hedge accounting to manage the volatility in
profit or loss and in its exposure.

The Company has interest rate swap contracts indexed to IPCA plus a fixed spread, as a percentage of CDI.
These instruments were contracted to protect the Company’s results from volatilities caused by variations in
the IPCA, which, on the dates of their contracting, were evaluated by Management, with the support of the
financial committee, as greater risk. All contracts were approved by the Board of Directors.

● Risk of changes in inflation

Movida has debentures issued whose remuneration is indexed to the Broad Consumer Prices Index – IPCA.
These bonds have a long-term profile. To mitigate this risk of changes in inflation, swap instruments were
contracted to exchange the IPCA variation for the Interbank Deposit Certificate (CDI) rate (Note 5.5).

● Foreign exchange risk

Movida is exposed to foreign exchange risk due to the mismatch between the currencies in which borrowings
are denominated and its functional currency. Borrowings are generally denominated in the same currency as
the cash flow generated by the Company’s trading operations, mainly in Reais. However, there are also
contracts in US Dollars and Euros, which are hedged against exchange rate changes using swap instruments,
which exchange the foreign currency indexation and the fixed rate for the CDI rate, limiting the exposure to
any losses due to exchange rate changes. The sensitivity analysis is presented in Note 4.4.

● Fair value of derivatives and other financial instruments

The fair values of financial instruments that are not traded on active markets are determined using valuation
techniques. The Group uses its judgment to choose between various methods and to define assumptions
mainly based on the market conditions existing at the reporting date. The Group used the discounted cash
flow analysis to calculate the fair values of several financial assets at fair value through other comprehensive
income, assets that are not traded in active markets.

The fair value of swaps is calculated based on the present value of estimated future cash flow based on
observable yield curves.

● Derivative financial instruments and hedge activities

Initially, derivatives are recognized at their fair value as at the date on which a derivative contract is entered
into, and subsequently remeasured at fair value. The method for recognizing the resulting gain or loss
depends, in the case of the adoption of hedge accounting, on the nature of the item/object being hedged. The
Group adopts hedge accounting, and designates certain derivatives as cash flow hedges.

● Cash flow hedge

The effective portion of changes in the fair value of derivatives designated and qualified as cash flow hedges
is recognized in equity, in the account "Equity valuation adjustments". The gain or loss related to the ineffective
portion is immediately recognized in the statement of profit or loss as "Total interest and charges on debts, net
of swap” (Note 25).
The amounts accumulated in equity are reclassified in the periods in which the hedged item affects profit or
loss.

Gains or losses related to the effective portion of interest rate swaps hedging loans at variable rates are
recognized in the statement of profit or loss as finance expenses at the same time as the interest expenses
on the hedged loans.

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● Hedge ineffectiveness

Hedge ineffectiveness is determined at the time of initiation of the hedge relationship and through periodic
prospective assessments of its effectiveness to ensure that there is any economic relationship between the
hedged item and the hedging instrument.

Movida contracts swaps with critical terms that are similar to the hedged item, such as reference rate, reset
dates, payment dates, maturities and reference value. The hedged item can be identified in full or as a
proportion of the outstanding loans based on the swaps' reference value.

● Market risk hedge derivative instruments

To manage the risk of foreign exchange and interest rate volatility, Movida contracted derivative instruments
“Swap”. These swaps the Euro to CDI, the US Dollar to CDI, and IPCA to CDI, reducing Movida's currency
exposure and IPCA interest rate.

Movida currently has two CCB/4131 loans exposed to exchange rate variations.

The first contract was executed in March 2020, raising 42,000,000 Euros at a rate of 5.28% p.a. with
semiannual interest payments and maturing in five years.

In January 2021, Movida Europe issued debt securities abroad, bearing interest at 5.25% p.a. and maturing in
2031 (“Notes”), denominated in US Dollars and with a principal amount of USD 500,000,000. In September
2021, the Company carried out the issuance of a new series of this note (re tap) in the total amount of USD
300,000,000. The issuances were merged, totaling USD 800,000,000, maintaining the prior maturity and
issuance rate.

Part of the Notes proceeds were brought into Brazil via a loan signed by Brazilian subsidiary Movida RAC for
USD 425,000,000, for the same term as the original loan. This credit line is guaranteed by a financial
investment made by Movida Europe using funds obtained from the issuance of the Notes. The Parent company
Movida contracted swap instruments to mitigate the exchange risk with interest rate spread and notional
amount of USD 425,000,000.

Additionally, to reduce the cash flow risk linked to the debentures issued on September 15, 2021, in the
principal amount of R$ 1,750 and term of 10 years, indexed to the IPCA index on the future financial expense
of certain financial liabilities, the Company contracted “Swap” derivatives, converting the IPCA + 7.64% to a
percentage of CDI.

The first contract refers to the 1st and 2nd series of the 6th issuance of debentures placed by its subsidiary
Movida RAC in the total amount of R$400,000 and R$300,000, and were carried out for the same period of
the original debt exchanging the IPCA+7 .2% for a percentage of the CDI. The second contract refers to the
3rd series of its 7th issuance of debentures, in the total amount of R$350,000, carried out for the same period
of the original loan exchanging the IPCA +7.6% for a percentage of the CDI. The third contract carried out in
February 2022 refers to a new CCB/4131 loan exposed to exchange variation, with the funding of USD
50,000,000 at a rate of 100% SOFR + 1.28%, with payment of semiannual interest and maturing in 5 years
(2027). A swap instrument was contracted for this loan, with critical terms coinciding with the terms and
conditions of the hedged item (amount, rate, index, maturity, payment dates and amortization schedule),
exchanging exchange rate risk for 100% of CDI + 2.60%.

This cash flow hedging operation resulted in effective changes in its fair value, net of taxes, in the amount of
R$ 242,996 for the period ended March 31, 2022 (R$ 210,389 for the year ended December 31, 2021), which
were recorded in “Other comprehensive income” as below.

Derivatives are used only for economic hedging purposes and not as speculative investments, and meet the
criteria for hedge accounting.

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The sensitivity analysis is presented in Note 4.5.

Parent company
Equity Change Equity
12/31/2021 12/31/2021
Derivative financial instruments designated as cash flow hedges:
Swap agreements 6,589 (11,117) 17,706
Deferred income tax and social contribution (2,240) 3,780 (6,020)
Net losses (gains) recognized in other comprehensive income 4,349 (7,337) 11,686

Consolidated
Equity Variation Equity
03/31/2022 12/31/2021
Derivative financial instruments designated as cash flow hedges:
Swap agreements (6,589) (6,589) -
Income tax and social contribution on the Parent Company's cash flow hedge 2,240 2,240 -
Swap contracts (368,174) (49,403) (318,771)
Deferred income and social contribution taxes 125,179 16,797 108,382
Net losses (gains) recognized in other comprehensive income (247,344) (36,955) (210,389)

Parent company Consolidated

03/31/2022 12/31/2021 03/31/2022 12/31/2021
Derivative financial instruments designated as cash flow hedge: - (1,549) - (60,307)
Gains recognized in profit or loss for the period (Note 24) - (1,549) - (60,307)

In the same period, no gains or losses arising from an ineffective portion of hedge were identified. The
accumulated amounts in "Other comprehensive income" are realized in the statement of profit or loss in the
periods in which the hedged item affects the results (for example, when the hedged item is settled).

The relationship between the hedging instrument and the hedged item, as well as the risk management policies
and objectives, were documented at the beginning of the transaction. Effectiveness tests are also properly
documented, thus confirming the prospective effectiveness of the hedging relationship based on the variations
in the market values of the hedged items, in accordance with Technical Pronouncement CPC 48/IFRS 9 –
“Financial Instruments”.

The outstanding contracts at March 31, 2022 in the consolidated are as follow:
At
Type of derivative
Instrument Operation Maturity Position Principal Currency Rate Hedge index amortized At fair value
financial instrument
cost
Swap agreement Cash flow hedge SWAP IPCA x CDI 09/15/2031 Asset 350,000 BRL 7.64% 100.00% 373,361 427,183
Swap agreement Cash flow hedge SWAP IPCA x CDI 09/15/2031 Liability 350,000 BRL 0.00% 135.94% (352,471) (430,590)
20,890 (3,407)
Asset position 373,361 427,183
Liability (352,471) (430,590)
Total net of SWAP 20,890 (3,407)

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 At
Type of derivative
Instrument Operation Maturity Position Principal Currency Rate Hedge index amortized At fair value
financial instrument
cost
Swap agreement Cash flow hedge SWAP EUR x CDI 03/17/2025 Asset 42,000 EUR 1.7000% 100.00% 220,892 224,375
Swap agreement Cash flow hedge SWAP EUR x CDI 03/17/2025 Liability 221,949 BRL CDI+2.07% 100.00% (222,987) (231,077)
(2,095) (6,702)

Swap agreement Cash flow hedge SWAP USD x CDI 02/06/2031 Asset 50,000 USD 5.25% 100.0% 238,859 280,809
Swap agreement Cash flow hedge SWAP USD x CDI 02/06/2031 Asset 25,000 USD 5.25% 100.0% 119,395 141,113
Swap agreement Cash flow hedge SWAP USD x CDI 02/06/2031 Asset 100,000 USD 5.25% 100.0% 477,580 564,453
Swap agreement Cash flow hedge SWAP USD x CDI 02/06/2031 Asset 50,000 USD 5.25% 100.0% 238,790 282,227
Swap agreement Cash flow hedge SWAP USD x CDI 02/06/2031 Asset 100,000 USD 5.25% 100.0% 477,718 561,618
Swap agreement Cash flow hedge SWAP USD x CDI 02/06/2031 Asset 425,000 USD 1.72% 100.0% 1,902 94,833
Swap agreement Cash flow hedge SWAP USD x CDI 02/06/2031 Asset 50,000 USD 5.25% 100.0% 238,790 282,227
Swap agreement Cash flow hedge SWAP USD x CDI 02/06/2031 Asset 50,000 USD 5.25% 100.0% 238,859 280,809
Swap agreement Cash flow hedge SWAP USD x CDI 02/06/2031 Liability 288,210 BRL 0.00% 150.5% (294,886) (388,635)
Swap agreement Cash flow hedge SWAP USD x CDI 02/06/2031 Liability 144,105 BRL 0.00% 147.0% (147,363) (190,900)
Swap agreement Cash flow hedge SWAP USD x CDI 02/06/2031 Liability 576,420 BRL 0.00% 151.5% (589,861) (781,125)
Swap agreement Cash flow hedge SWAP USD x CDI 02/06/2031 Liability 288,210 BRL 0.00% 150.0% (294,863) (387,671)
Swap agreement Cash flow hedge SWAP USD x CDI 02/06/2031 Liability 576,420 BRL 0.00% 150.5% (589,771) (777,270)
Swap agreement Cash flow hedge SWAP USD x CDI 02/06/2031 Liability 2,449,785 BRL 0.00% 11.3% (4,213) (170,977)
Swap agreement Cash flow hedge SWAP USD x CDI 02/06/2031 Liability 288,210 BRL 0.00% 150.0% (294,863) (387,652)
Swap agreement Cash flow hedge SWAP USD x CDI 02/06/2031 Liability 288,210 BRL 0.00% 150.5% (294,886) (388,635)
(478,813) (984,776)

Swap agreement Cash flow hedge SWAP IPCA x CDI 12/15/2025 Asset 100,000 BRL 7.17% 100.0% 112,375 120,989
Swap agreement Cash flow hedge SWAP IPCA x CDI 12/15/2025 Asset 200,000 BRL 7.24% 100.0% 224,736 241,962
Swap agreement Cash flow hedge SWAP IPCA x CDI 06/16/2028 Asset 400,000 BRL 7.24% 100.0% 471,082 535,732
Swap agreement Cash flow hedge SWAP IPCA x CDI 12/15/2025 Liability 100,000 BRL 0.00% 152.0% (104,367) (122,083)
Swap agreement Cash flow hedge SWAP IPCA x CDI 12/15/2025 Liability 200,000 BRL 0.00% 151.4% (208,725) (243,707)
Swap agreement Cash flow hedge SWAP IPCA x CDI 06/16/2028 Liability 400,000 BRL 0.00% 140.0% (435,665) (567,956)
59,436 (35,063)
Swap agreement Cash flow hedge SWAP IPCA x CDI 09/15/2031 Asset 350,000 BRL 7.64% 100.00% 373,361 427,183
Swap agreement Cash flow hedge SWAP IPCA x CDI 09/15/2031 Liability 350,000 BRL 0.00% 135.94% (352,471) (430,590)
20,890 (3,407)
Swap agreement Cash flow hedge SWAP SOFRUSD X CDI 02/10/2027 Asset 50,000 USD 1.55% 0.00% 240,584 248,310
Swap agreement Cash flow hedge SWAP SOFRUSD X CDI 02/10/2027 Liability 266,500 BRL 2.60% 100.00% (271,198) (293,236)
(30,614) (44,926)
Total net of SWAP (431,196) (1,074,874)
Asset position 3,403,725 3,993,404
Liability (3,834,921) (5,068,278)
Total net of SWAP (431,196) (1,074,874)

The table below indicates the expected periods during which the cash flow associated with the swap
agreement will impact the profit or loss, and the respective carrying amount of this instrument.
Expected cash flow
Cash flow swap Curve amount (MTM) 1-6 months 7-12 months Up to 2 years Up to 3 years Over 3 years
Asset position 3,993,404 87,460 159,941 237,682 277,653 3,230,668
Liability position (5,068,278) (300,281) (376,147) (545,609) (498,543) (3,347,698)
Total (1,074,874) (212,821) (216,206) (307,927) (220,890) (117,030)

(c) Liquidity risk

Movida monitors the risks associated with funding shortages on an ongoing basis using a current liquidity
planning tool.

Movida’s purpose is to maintain a balance of cash and highly-liquid investments, maintaining flexibility through
the use of bank loans and the ability to raise funds through capital markets to ensure its liquidity and operational
continuity. The average indebtedness tenures are monitored in order to provide short-term liquidity, analyzing
installments, charges and cash flow.

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 The contractual maturities of financial liabilities, including interest appropriation, are shown below:

Parent company
Contractual cash
Financial liabilities Carrying amount Up to 1 year 1 to 2 years Over 3 years
flow
Trade payables 49,189 49,189 49,189 - -
Loans and borrowings 273,629 369,753 61,896 142,481 165,376
Debentures 4,049,105 5,937,208 703,026 1,118,428 4,115,755
Right-of-use leases 224,364 192,289 115,864 48,092 28,333
Dividends payable 135,168 135,168 135,168 - -
Other payables and advances 101,277 101,277 14,431 86,846 -
Total 4,832,732 6,784,884 1,079,574 1,395,847 4,309,464

Consolidated
Contractual cash
Financial liabilities Carrying amount Up to 1 year 1 to 2 years Over 3 years
flow
Trade payables 1,725,608 1,725,608 1,725,608 - -
Loans and borrowings 7,184,438 9,821,822 534,733 621,639 8,665,450
Debentures 6,245,390 9,024,955 996,889 1,807,029 6,221,037
Derivative financial instruments 1,110,534 1,110,534 - - 1,110,534
Right-of-use leases 420,011 606,918 247,116 219,477 140,326
Dividends payable 137,516 137,516 137,516 - -
Other payables and advances 197,265 197,265 184,616 12,649 -
Total 17,020,762 22,624,618 3,826,478 2,660,794 16,137,347

4.5. Interest rate and currency sensitivity analysis

Movida carried out a sensitivity analysis in accordance with CPC 40 (R1) Financial Instruments in order to
demonstrate the effects of changes in interest and exchange rates on its financial assets and liabilities,
considering the following probable interest and exchange rates for the next 12 months.

This study estimated a probable scenario of the CDI rate of 12.72% p.a., based on the future interest rate
curve of B3, SELIC of 12.71% p.a. (source: BACEN – Central Bank of Brazil), EUR rate of R$ 5.91 (source:
B3 S.A. - Brasil, Bolsa e Balcão), IPCA of 7.46% p.a. (source: B3 S.A. - Brasil, Bolsa e Balcão), proportionally
impacting loans and financial investments. For the TLP, the scenario considered probable at March 31, 2022
is a rate of 12.23% p.a. (source: BNDES – Banco Nacional de Desenvolvimento).

The table below is presented with the respective impacts on the finance result, considering the probable
scenario (Scenario I), stressed by 25% (Scenario II) and 50% (Scenario III):

Parent company
Scenario I + Scenario I +
Potential Probable
Probable 25% 50%
Operation Exposure Risk gain / scenario -
rate deterioration - deterioration -
(loss) CDI/TLP
CDI/TLP CDI/TLP
Interest rate risk
Financial instruments
Financial investments R$ 30,703 CDI Gain 13.39% 4,110 5,138 6,165
Marketable securities R$ 812,851 SELIC Gain 12.72% 103,394 129,243 155,092
Total assets 107,505 134,381 161,257
Loans and borrowings R$ 273,629 CDI+2.69% Loss 15.41% (42,171) (50,872) (59,574)
Debentures (CDI) R$ 3,731,639 CDI+2.58% Loss 15.30% (570,921,) (689,587) (808,253)
Debentures (IPCA) R$ 317,466 IPCA+7.64% Loss 15.10% (47,923) (53,840) (59,757)
Total liabilities (661,014) (794,299) (927,584)
Swap asset position - Debentures (IPCA) R$ 317,466 IPCA 7.64% Gain 15.10% 47,923 53,840 59,757
Swap liability position - Debentures (IPCA) R$ 317,466 135.94% of CDI Loss 17.29% (54,895) (68,619) (82,342)
Net effect of exposure (6,972) (14,779) (22,585)
Total liabilities (667,986) (809,078) (950,169)
Net exposure and impact on finance result - floating rate (560,482) (674,697) (788,912)
Variation in result in relation to the probable scenario - (114,215) (228,430)

(*) Source of indices: Focus Report – BACEN and B3

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 The objective of this sensitivity analysis is to measure the impact of changes in market variables on Movida's
financial instruments, and resulting increase or decrease in finance expenses, net.
Consolidated
Scenario I + Scenario I +
Potential Probable
Probable 25% 50%
Operation Exposure Risk gain / scenario -
rate deterioration deterioration
(loss) CDI/TLP
- CDI/TLP - CDI/TLP
Interest rate risk
Financial instruments
Financial investments R$ 903,521 CDI Gain 13.39% 295,402 369,252 443,102
Marketable securities R$ 32 CDI Gain 13.39% 4.320 5.400 6.479
Marketable securities R$ 4,747,031 SELIC Gain 12.72% 438,117 547,646 657,175
Total assets 733,523 916,904 1,100,284
Loans and borrowings R$ 7,184,438 CDI+2.63% Loss 15.35% (444,346) (536,528) (628,710)
Debentures (CDI) R$ 5,132,926 CDI+2.7% Loss 15.42% (791,521) (954,748) (1,117,975)
Total CDI (1,235,867) (1,820,851) (1,746,685)
Loans and borrowings R$ 30,118 TLP Loss 6.08% (1,831.159) (2,288.949) (2,746.738)
Loans and borrowings - IPCA+7.33% Gain 7.46% (2,615) (3,269) (3,923)
Total TLP+IPCA (4,446.159) (5,557.949) (6,669.738)
Total liabilities (1,240,314) (1,820,854) (1,753,355)
Derivative designated as hedge
Debentures (IPCA) R$ 1,112,464 IPCA+7.33% Loss 14.78% (164,435) (185,170) (205,905)
Swap long position - Debentures (IPCA) R$ 1,112,464 IPCA+7.33% Gain 14.78% 164,435 185,170 205,905
Swap liability position - Debentures (IPCA) R$ 1,112,464 142.34% of CDI Loss 18.11% (201,417) (251,771) (302,125)
Net effect of exposure (201,417) (251,771) (302,125)
Net exposure and impact on finance expenses - floating rate (708,208) (1,155,722) (955,196)
Exchange rate risk
Financial instruments
Financial investments USD 79,525 USD + 0.03% Gain 13.39% 39,143 280,769 336,923
Marketable securities USD 705,271 USD + 5.35% Gain 12.72% 526,187 324,269 389,123
Total assets 565,330 605,038 726,046
Loans, borrowings (USD) USD (800,000) Fixed rate - 5.25% Loss 15.65% (592,111) (145,995) (145,995)
Total liabilities (592,111) (145,995) (145,995)
Derivative designated as hedge
Loans, borrowings (EUR) EUR 42,000 EUR+1.7% Loss 14.33% (6,019) (7,346) (8,672)
Swap asset position - Loans and borrowings (EUR) EUR (42,000) EUR+1.7% Gain 14.33% 6,019 7,346 8,672
Swap liability position - Loans and borrowings (EUR) R$ 220,892 CDI+2.07% Loss 14.79% (32,670) (39,694) (46,719)
Loans, borrowings (USD) USD 425,000 USD+5.83% Loss 16.23% (68,981) (80,030) (91,080)
Swap asset position - Loans and borrowings (USD) USD (425,000) USD+5.83% Gain 16.23% 68,981 80,030 91,080
Swap liability position - Loans and borrowings (USD) USD 2,029,536 150.41% of CDI Loss 19.13% (388,288) (485,360) (582,432)
Loans, borrowings (USD) USD 50,000 USD+1.51% Loss 11.91% (5,955) (7,255) (8,555)
Swap asset position - Loans and borrowings (USD) USD (50,000) USD+1.51% Gain 11.91% 5,955 7,255 8,555
Swap liability position - Loans and borrowings (USD) R$ 237,401 CDI+2.6% Loss 15.32% (36,370) (43,919) (51,469)
Net effect of exposure (457,328) (568,973) (680,619)
Total net exposure and impact on finance result of exchange rate risk (98,494) (109,931) (100,569)
Variation in result in relation to the probable scenario - 707,052 (246,988)

5. CASH AND CASH EQUIVALENTS

Parent company Consolidated
03/31/2022 12/31/2021 03/31/2022 12/31/2021
Cash 520 - 10,421 529
Banks 77 94 376,147 35,359
Total cash and banks 597 94 386,568 35,888
Repurchase agreements - 88 31,177 5,366
CDB (Bank Deposit Certificate) 30,106 2,529 485,776 104,776
Total financial investments 30,106 2,617 516,963 110,142
Total 30,703 2,711 903,521 146,030

During the period ended March 31, 2022, the average yield of local funds was 2.55% p.a., pegged at 105.24%
of the CDI (at December 31, 2021 the average yield was 4.55% p.a., pegged at 103% of the CDI).

Information on the fair value measurement, Movida's exposure to credit and market risks, and sensitivity to
interest and currency rates are included in Notes 4.2, 4.3 and 4.4.

6. MARKETABLE SECURITIES AND FINANCIAL INVESTMENTS

Parent company Consolidated

Operations
03/31/2022 12/31/2021 03/31/2022 12/31/2021
Government securities – exclusive funds
Financial Treasury Bills (“LFT”) 587,219 841,358 1,116,053 1,365,163
National Treasury Bills (“LTN”) 198,154 1,188,901 256,605 1,818,406
American Treasury Bills - - 3,341,432 4,453,692
Financial Bills 27,478 - 32,261 3,162
Quotas from other funds - - 712 -
Total 812,851 2,030,259 4,747,063 7,640,423
In current assets 812,851 2,030,259 4,747,063 7,640,423
Total 812,851 2,030,259 4,747,063 7,640,423

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 The average income from government securities allocated to exclusive funds managed by the Parent
Company Simpar accrue at fixed and floating rates (fixed LTN and LFT SELIC). During the period ended
March 31, 2022, the average income from these investments was 2.55% p.a. (4.55% p.a. for the year ended
December 31, 2021).

Information on the fair value measurement, Movida's exposure to credit and market risks, and sensitivity to
interest and currency rates are included in Notes 4.2, 4.3 and 4.4.

7. TRADE RECEIVABLES
Parent company Consolidated
03/31/2022 12/31/2021 03/31/2022 12/31/2021
Trade receivables 150,777 135,499 569,489 445,072
Receivables from credit cards - - 423,457 351,436
Unbilled revenue from rentals 15,666 13,921 142,472 178,667
Receivables from related parties (Note 26.1) 13,374 9,669 71,710 30,648
(-) Expected credit losses from trade receivables (18,080) (16,890) (129,293) (118,756)
Subtotal 161,737 142,199 1,077,835 887,067
In current assets 160,911 136,760 1,075,724 879,885
In noncurrent assets 826 5,439 2,111 7,182
Total 161,737 142,199 1,077,835 887,067

At March 31, 2022 and December 31, 2021, Movida had not receivables given as debt guarantees. Information
on the fair value measurement and on Movida's exposure to credit and market risks are included in Notes 4.2
and 4.3.

7.1. Changes in balances of expected credit losses from trade receivables

Parent company Consolidated

At December 31, 2021 (16,890) (118,040)
(-) Merger of subsidiaries 955 -
(-) Additions (298) (12,869)
(+) Reversals 69 2,322
(+)Loss recovery (i) - (706)
At March 31, 2022 (18,080) (129,293)
At December 31, 2020 (33,096) (128,319)
(-) Additions (595) (8,438)
(+) Reversals 145 2,113
(+) Write-off (i) 17,545 41,917
At March 31, 2021 (16,001) (92,727)

(i) Refers to securities written off as losses, having been overdue for over two years and now subject to a
100% provision. However, administrative and judicial collection efforts continue. There is no impact on
the net balance of trade receivables and on the related cash flows.

7.2. Classification by maturities and their respective expected loss rates

- Parent company
03/31/2022 12/31/2021
Trade receivables Expected losses % Net total Trade receivables Expected losses % Net total
Current (not overdue) 152,385 (10,166) 6.67% 142,219 133,150 (9,720) 7.30% 123,430
Due within 30 days 7,586 (251) 3.31% 7,335 8,216 (184) 2.24% 8,032
Overdue from 31 to 90 days 1,659 (294) 17.72% 1,365 1,882 (194) 10.31% 1,688
Overdue from 91 to 180 days 1,787 (324) 18.13% 1,463 9,014 (231) 2.56% 8,783
Overdue from 181 to 365 days 9,386 (594) 6.33% 8,792 625 (360) 57.60% 265
Overdue for more than 365 days 7,014 (6,451) 91.97% 563 6,202 (6,202) 100.00% -
Total overdue 27,432 (7,914) 28.85% 19,518 25,939 (7,171) 27.65% 18,768
Total 179,817 (18,080) 10.05% 161,737 159,089 (16,891) 10.62% 142,198

- Consolidated
03/31/2022 12/31/2021
Trade receivables Expected losses % Net total Trade receivables Expected losses % Net total
Current (not overdue) 991,297 (35,839) 3.62% 955,458 825,900 (30,003) 3.63% 795,897
Due within 30 days 49,767 (3,666) 7.37% 46,101 39,917 (2,983) 7.47% 36,934
Overdue from 31 to 90 days 38,947 (5,662) 14.54% 33,285 27,718 (4,380) 15.80% 23,338
Overdue from 91 to 180 days 28,350 (7,128) 25.14% 21,222 25,977 (6,321) 24.33% 19,656
Overdue from 181 to 365 days 31,732 (15,042) 47.40% 16,690 24,066 (12,823) 53.28% 11,243
Overdue for more than 365 days 67,036 (61,957) 92.42% 5,079 62,245 (62,245) 100.00% -
Total overdue 215,832 (93,455) 43.30% 122,377 179,923 (88,752) 49.33% 91,171
Total 1,207,129 (129,294) 10.71% 1,077,835 1,005,823 (118,755) 11.81% 887,067

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8. FIXED ASSETS AVAILABLE FOR SALE

This account includes vehicles that were recorded as property and equipment and that, as a result of their
replacement, are available for immediate sale. These assets classified in current assets are available for
immediate sale in their present condition and are thus very likely to be sold under a year. Once classified as
fixed assets available for sale, assets are no longer depreciated.

Depending on levels of demand, such as seasonal peaks, the vehicles can be used again in operations. When
this occurs, the assets are returned to property and equipment and depreciation recorded.

Analysis of fixed assets available for sale for the periods ended March 31, 2022 and December 31, 2021 are
as follows:

Parent company Consolidated

Accumulated Accumulated
Cost Net value Cost Net value
depreciation depreciation
At December 31, 2021 695 (332) 363 343,640 (37,609) 306,031
Addition from merger of subsidiaries 1,432 - 1,432 - - -
Assets written off due to sale(i) (11,353) 409 (10,944) (761,030) 45,445 (715,585)
Assets transferred from property and equipment 17,072 (214) 16,858 1,078,315 (57,576) 1,020,739
At March 31, 2022 7,846 (137) 7,709 660,925 (49,740) 611,185

At December 31, 2020 2,448 (757) 1,691 152,298 (15,564) 136,734

Assets written off due to sale(i) (1,698) 657 (1,041) (242,675) 28,049 (214,626)
Assets transferred from property and equipment (291) 415 124 296,386 (31,879) 264,507
At March 31, 2021 459 315 774 206,009 (19,394) 186,615

(i) Write-off due to sale reflect the total cost of sales of assets used in services rendered; and

At March 31, 2022 and December 31, 2021, Movida had no assets held for sale given as debt collaterals.

9. INVESTMENTS

Interests in investees were accounted for under the equity method of accounting, based on the financial
information on the investees, as follows:

Equity results from

Investments Equity at 03/31/2022 Interest % 03/31/2022
subsidiaries
Movida Locação de Veículos S.A. 5,112,384 100.00% 210,283 5,112,384
CS Brasil Participações S.A. 1,008,276 100.00% 23,046 1,008,276
CS Brasil Frotas S.A. 1,925,661 20.25% 9,778 389,986
Movida Europe (76,317) 100.00% 755 -
Movida Finance S.A. 92 100.00% (18) 92
Goodwill and surplus value (i) 20,226 - - 20,226
Unrealized gains (losses) on intra-group transactions damage - 2,378 2,374
Total permanent investments 246,222 6,533,338

Equity results from

Investments Equity at 12/31/2021 Interest % 12/31/2021
subsidiaries
Movida Locação de Veículos S.A. 4,126,826 100.00% 724,801 4,126,826
CS Brasil Participações S.A. 823,351 100.00% 53,836 823,351
CS Brasil Frotas S.A. 1,873,476 20.25% 962 379,416
Vox Frotas Locadora de Veículos S.A. 80,774 100.00% 15,363 80,774
Movida Locação de Veículos Premium Ltda. 27,946 100.00% 4,454 27,946
Movida Europe (43,759) 100.00% (43,951) -
Movida Finance S.A. 109 100.00% (1) 109
Goodwill and surplus value (i) - - - 20,226
Unrealized gains (losses) on intra-group transactions - - (4,036) 2,356
Total permanent investments 751,428 5,461,004

(i) Goodwill arising from a business acquisition, which is classified as an investment by the Parent Company, in accordance with CPC 18 (R2) / IAS 24 – Investments in
Associates and Joint Ventures, and as intangible assets in the Consolidated, in accordance with ICPC 09 (R2) - “Individual Financial Statements, Separate Statements,
Consolidated Statements and Application of the Equity Method”.

a) Consolidated

On September 9, 2018, the Company through its subsidiary Movida Locação de Veículos S.A. (“Movida
Locação”) signed a strategic alliance agreement with E-moving, a startup for lease and sale of electric bicycles.
Founded in 2015, E-moving operates in São Paulo and has approximately 400 electric bicycles. The
agreement provides for support to the development of the business and investment for expansion over five
years. Movida now has an option to become a partner at the end of the period. Up to March 31, 2022 the total
amount invested was R$ 1,181 (R$ 1,191 at December 31, 2021).

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9.1. Changes in investments

Movida Unrealized
Movida CS Brasil Vox Frotas Locação de Goodwill and gains (losses)
CS Brasil Movida Movida
Locação de Participações Locadora de Veículos surplus on intra- Total
Frotas S.A. Europe S.A. Finance S.A.
Veículos S.A. S.A. Veículos S.A. Premium value group
Ltda. transactions(ii)
At December 31, 2021 4,126,826 823,351 379,416 80,774 27,946 - 109 20,226 2,356 5,461,004
Advance for future capital increase and capital increase in investee 979,030 152,299 - - - - - - - 1,131,329
Equity results from subsidiaries 210,283 23,046 9,778 - - 755 (18) - 2,378 246,222
Reclassification negative equity(i) - - - - - 32,558 - - - 32,558
Adjustment to present value of debentures - - 16,302 - - - - - - 16,302
Write-offs - - - - - - - - (2,357) (2,357)
Merger of subsidiaries - - - (80,774) (27,946) - - - - (108,720)
Other comprehensive income (209,682) - - - - (33,313) - - - (242,995)
Result in the variation of shareholding 5,932 9,580 (15,512) - - - - - - -
Other (5) - 2 - - - 1 - (3) (5)
At March 31, 2022 5,112,384 1,008,276 389,986 - - - 92 20,226 2,374 6,533,338
At December 31, 2020 3,800,627 - - - 24,336 - - 4,123 6,375 3,835,461
Acquisitions of investments - - - 24,451 - 114 - 10,160 - 34,725
Equity results from subsidiaries 134,079 - - - 987 (20,319) - - (1,305) 113,442
Capital increase 791,659 - - 48,836 - - - - - 840,495
(-) Amortization of goodwill and surplus value - - - - - - - (34) - (34)
Other comprehensive income (91,547) - - - - - - - - (91,547)
At March 31, 2021 4,634,818 - - 73,287 25,323 (20,205) - 14,249 5,070 4,732,542

(i) Refers to the unrealized result of a lease agreement between the Company and its subsidiary

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9.2. Balances of assets and liabilities and results of investees and subsidiaries

The balances of assets, liabilities, revenues and expenses in subsidiaries at March 31, 2022 and December 31, 2021 are presented below:

Movida
CS Brasil Participações S.A. CS Brasil Frotas S.A. Movida Europe S.A. Movida Finance S.A.
Locação de Veículos S.A.
03/31/2022 12/31/2021 03/31/2022 12/31/2021 03/31/2022 12/31/2021 03/31/2022 12/31/2021 03/31/2022 12/31/2021
Current assets 2,485,265 1,855,760 35,449 21,294 496,168 605,193 3,716,912 4,488,249 91 109
Noncurrent assets 11,739,039 10,933,501 1,101,760 1,083,609 1,920,721 1,770,642 - - - -
Current liabilities 2,473,999 2,738,028 107,846 110,283 371,322 399,376 34,342 99,954 - -
Noncurrent liabilities 6,637,921 5,924,411 21,087 171,269 119,905 102,983 3,758,887 4,432,054 - -
Equity 5,112,384 4,126,822 1,008,276 823,351 1,925,662 1,873,476 (76,317) (43,759) 91 109

Net revenues 1,659,135 4,649,242 7,164 13,509 162,914 258,013 - - - -

Costs and expenses (1,448,852) (3,924,441) 15,882 40,327 (114,631) (183,848) 755 (43,951) (18) (1)
Profit (loss) for the period 210,283 724,801 23,046 53,836 48,283 74,165 755 (43,951) (18) (1)

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10. PROPERTY AND EQUIPMENT

The movements in the Parent Company and Consolidated for the periods ended March 31, 2022 and 2021
were as follows:

Parent company
Machinery Computers Furniture Right of Right of
Construction
Vehicles and and and use use Total
in progress
equipment peripherals fixtures (vehicles) (properties)
Cost:
At December 31, 2021 4,522 65 49 25 60 354,707 36,389 395,817
Additions 269 - - 34 4 220,556 2,933 223,758
Merger of subsidiaries 70,720 - - - - - - 70,720
Transfers to fixed assets available for sale (i) (17,072) - - - - - - (17,072)
Write-offs(ii) (24) - - - - (355,595) - (355,581)
At March 31, 2022 58,415 65 49 59 64 219,668 39,322 317,642
Depreciation:
At December 31, 2021 (3,059) (59) - (16) (31) (237,728) (3,471) (244,364)
Depreciation for the year (1,116) (3) - (4) (1) (34,334) (1,028) (36,486)
Merger of subsidiaries (1,172) - - - - - - (1,172)
Transfers to fixed assets available for sale (i) 214 - - - - - - 214
Write-offs(ii) 1 - - - - 238,060 - 238,061
At March 31, 2022 (5,132) (62) - (20) (32) (34,002) (4,499) (43,747)
Net value:
At December 31, 2021 1,463 6 49 9 29 116,979 32,918 151,453
At March 31, 2022 53,283 3 49 39 32 185,666 34,823 273,894

Parent company
Machinery Computers Furniture Right of Right of
Construction
Vehicles and and and use use Total
in progress
equipment peripherals fixtures (vehicles) (properties)
Cost:
At December 31, 2020 6,765 65 - 42 58 574,262 - 581,192
Additions 98 - - - - 115,224 - 115,322
Transfers to fixed assets available for sale (i) 291 - - - - - - 291
Write-offs(ii) (286) - - - - (17,795) - (18,081)
At March 31, 2021 6,868 65 - 42 58 671,691 - 678,724
Depreciation:
At December 31, 2020 (3,696) (52) - (27) (26) (236,086) - (239,887)
Depreciation for the period (200) (2) - (2) (1) (55,825) - (56,030)
Transfers to fixed assets available for sale (i) (415) - - - - - - (415)
Write-offs(ii) (31) - - - - - - (31)
At March 31, 2021 (4,342) (54) - (29) (27) (291,911) - (296,363)

Net value:
At December 31, 2020 3,069 13 - 15 32 338,176 - 341,305
At March 31, 2021 2,526 11 - 13 31 379,780 - 382,361

(i) Refers to the transfer of the acquisition cost and accumulated depreciation of the vehicles being
decommissioned to the fixed assets available for sale account. See Note 9; and See Note 9; and

(ii) Refers mainly to write-offs due to damaged or stolen vehicles amounting to R$ 22 (R$ 255 at March 31,
2021).

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 Consolidated
Machinery and Constructions in Leasehold Computers and Furniture and Right of use Right of use
Vehicles Total
equipment progress improvements peripherals fixtures (vehicles) (properties)
Cost:
At December 31, 2021 12,144,450 11,499 26,633 87,012 21,948 37,245 17,002 538,419 12,884,208
Additions 1,903,063 9,909 14,537 - 4,855 3,151 14,351 28,881 1,978,747
Transfers to fixed assets available for sale(i) (1,078,315) - - - - - - - (1,078,315)
Write-offs (ii) (57,097) (147) - (3,882) (322) (27) (302) - (61,777)
Transfers 522 - (13,734) 13,734 (522) - - - -
At March 31, 2022 12,912,623 21,261 27,436 96,864 25,959 40,369 31,051 567,300 13,722,863
Accumulated depreciation:
At December 31, 2021 (525,053) (3,644) - (29,295) (8,084) (9,715) (5,662) (162,726) (744,179)
Depreciation for the year (165,169) (287) - (4,538) (1,226) (964) (5,926) (28,090) (206,200)
Transfers to fixed assets available for sale(i) 57,576 - - - - - - - 57,576
Write-offs(ii) 802 - - 2,492 406 10 60 - 3,770
At March 31, 2022 (631,844) (3,931) - (31,341) (8,904) (10,669) (11,528) (190,816) (889,033)
Net value:
At December 31, 2021 11,619,397 7,855 26,633 57,717 13,864 27,530 11,340 375,693 12,140,029
At March 31, 2022 12,280,779 17,330 27,436 65,523 17,055 29,700 19,523 376,484 12,833,830

Consolidated
Machinery and Constructions in Leasehold Computers and Furniture and Right of use Right of use
Vehicles Total
equipment progress improvements peripherals fixtures (vehicles) (properties)
Cost:
At December 31, 2020 5,810,216 5,544 14,059 65,217 17,228 26,386 - 268,695 6,207,345
Additions 741,433 - 8,739 - 1,704 2,043 - 168,529 922,448
Additions due to acquisition of company 89,806 - - 32 - - - - 89,838
Transfers to fixed assets available for sale(i) (296,386) - - - - - - - (296,386)
Write-offs(ii) (56,968) - - (8,015) (1,749) - - (7,548) (74,280)
Transfers - - (9,732) 9,732 151 (151) - - -
At March 31, 2021 6,288,101 5,544 13,066 66,966 17,334 28,278 - 429,676 6,848,965

Accumulated depreciation:
At December 31, 2020 (312,115) (1,983) - (29,885) (7,208) (6,383) - (111,018) (468,592)
Additions (31,085) (138) - (4,259) (835) (690) - (20,191) (57,198)
Depreciation arising from acquisitions of companies (9,559) - - - - - - - (9,559)
Transfers to fixed assets available for sale(i) 31,879 - - - - - - - 31,879
Write-offs(ii) 3,014 - - 8,015 1,714 - - - 12,743
Transfers - - - - (15) 15 - - -
At March 31, 2021 (317,866) (2,121) - (26,129) (6,344) (7,058) - (131,209) (490,727)

Net value:
At December 31, 2020 5,498,101 3,561 14,059 35,332 10,020 20,003 157,677 5,738,753
At March 31, 2021 5,970,235 3,423 13,066 40,837 10,990 21,220 298,467 6,358,238

(i) Refers to the transfer of the acquisition cost and accumulated depreciation of the vehicles being decommissioned to the fixed assets available for sale account.
See Note 9; and

(ii) Refers mainly to write-offs due to damaged vehicles amounting to R$ 56,295 (R$ 53,954 at March 31, 2021).

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Movida annually reviews the expected market value estimates at the end of the economic useful lives of its
property and equipment, regularly monitors the estimated economic useful lives used to determine the
respective depreciation and amortization rates and, whenever necessary, analyses are performed on the
recoverability of its assets.

The last asset recoverability test was conducted on December 31, 2021 and there was no need to constitute
a provision for impairment, as shown in Note 13.

The depreciation methods, useful lives and residual values are reviewed annually, and adjusted if appropriate.

Annual weighted average depreciation rates:

Average annual rate of depreciation (%)

Parent company Consolidated
Property and equipment items
03/31/2022 12/31/2021 03/31/2022 12/31/2021
Vehicles 6,68% 8.20% 5.37% 6.14%
Machinery and equipment 10.00% 10.77% 10.00% 7.84%
Computers and peripherals 20.00% 17.91% 20.00% 18.97%
Furniture and fixtures 10.00% 8.47% 10.00% 9.94%
Leasehold improvements 0.00% 0.00% 24.81% 24.12%
Right of use (vehicles) 47.82% 33.20% 14.47% 66.72%
Right of use (properties) 10.86% 19.08% 20.32% 23.69%

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11. INTANGIBLE ASSETS

Movements in the Parent Company and Consolidated for the periods ended March 31, 2022 and 2021 were as follows:

Parent Company Consolidated

Trademarks Trademarks Contracts with
Software Total Goodwill(i) Software Points-of-sale Total
and patents and patents customers
Cost:
At December 31, 2021 1,117 2,203 3,320 13,551 171,602 1,173 4,679 10,827 201,832
Additions - 789 789 - 13,496 - - - 13,496
Write-offs - - - - (239) - - - (239)
At March 31, 2022 1,117 2,992 4,109 13,551 184,859 1,173 4,679 10,827 215,089
Amortization:
At December 31, 2021 - (820) (820) - (26,466) (30) (292) - (26,788)
Additions - (65) (65) - (6,610) - (27) - (6,637)
Write-offs - - - - 124 - - - 124
At March 31, 2022 - (885) (885) - (32,952) (30) (319) - (33,301)
Net value:
At December 31, 2021 1,117 1,383 2,500 13,551 145,136 1,143 4,387 10,827 175,044
At March 31, 2022 1,117 2,107 3,224 13,551 151,907 1,143 4,360 10,827 181,788

Cost:
At December 31, 2020 1,117 1,367 2,484 11,399 130,903 1,173 4,678 505 148,658
Additions - - - 10,159 9,393 - - - 19,552
Write-offs - - - - (579) - - - (579)
At March 31, 2022 1,117 1,367 2,484 21,558 139,717 1,173 4,678 505 167,631

Amortization:
At December 31, 2021 - (563) (563) - (6,731) (28) (183) - (6,942)
Additions - (62) (62) - (4,953) - (27) - (4,980)
Write-offs - - - - 579 - - - 579
At March 31, 2022 - (625) (625) - (11,105) (28) (210) - (11,343)

(i) Goodwill arising from the business combination of the car rental segment.

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 Average annual amortization rates:

Average annual rate of amortization (%)

Parent company Consolidated

Intangible asset items
03/31/2022 12/31/2021 03/31/2022 12/31/2021
Software 20.00% 14.40% 20.00% 13.65%
Trademarks 20.00% 0.00% 20.00% 0.00%
Points-of-sale 0.00% 0.00% 1.40% 2.33%
Contracts with customers 2.99% 2.99% 2.99% 2.99%

12. IMPAIRMENT TESTING

The impairment test of indefinite useful life assets is carried out once a year, or when there are indicators of
impairment of some of the cash-generating units ("CGUs"). Movida classifies CGUs based on their segments,
RAC or GTF (Note 3).

Movida classifies CGUs as the set of assets of the fleet of each operating segment.

At March 31, 2020, as the COVID-19 pandemic had caused measures of social distancing, customer footfall
was reduced resulting in the closure of rent a car and pre-owned car stores. Accordingly, Movida reviewed its
projections used in the impairment test of its assets. The review resulted in the recognition of impairment loss
for these assets.

At December 31, 2021, Management updated its studies and did not identify any adjustment to the amount
provisioned.

13. TRADE PAYABLES

Description Parent Company Consolidated

03/31/2022 12/31/2021 03/31/2022 12/31/2021
Car manufacturers and vehicle dealers(i) - - 1,514,487 2,144,533
Service providers and automotive parts 9,728 9,211 50,474 26,071
Service providers, except automotive 11,181 8,461 94,933 44,135
Related parties (Note 24.1) 23,524 15,232 6,227 2,272
Other 4,756 3,517 59,487 99,741
Total 49,189 36,421 1,725,608 2,316,752

(i) Change in the balance of car manufacturers and vehicle dealerships is due to the reduction in the
volume of purchase of new vehicles and renegotiation with car manufacturers (Note 14).

Information on Movida's exposure to liquidity risk related to suppliers is disclosed in Note 4.3.

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14. LOANS AND BORROWINGS

Parent company
Promissory notes(i) Total
At December 31, 2021 318,205 318,205
Funding -
Amortization (50,000) (50,000)
Interest paid (4,105) (4,105)
Interest incurred 9,529 9,529
At March 31, 2022 273,629 273,629
Current 74,028 74,028
Noncurrent 199,601 199,601
Total 273,629 273,629

Parent company
Promissory notes(i) Total
At December 31, 2020 103,599 103,599
Funding 400,000 400,000
Amortization (3,000) (3,000)
Interest paid (469) (469)
Interest incurred 2,762 2,762
Expenses to be recognized (2,379) (2,379)
At March 31, 2021 500,513 500,513
Current 125,702 125,702
Noncurrent 374,811 374,811
Total 500,513 500,513

Consolidated
International Senior
Promissory Working Commercial
FNE(ii) CCB (iii) FINEP(iv) credit Notes Total
notes(i) capital notes
(4131)(v) "BOND"(vi)
At December 31, 2021 318,205 - 33,981 30,093 3,064,408 4,520,437 - - 7,967,124
Funding - - - - 266,500 - - 200,000 466,500
Charges to be recognized - - - - - - - (1,975) (1,975)
Amortization (50,000) - - - - - - - (50,000)
Interest capitalized - - - 453 - - - - -
Interest paid (4,105) - - (434) (80,584) (111,896) - - (197,019)
Interest incurred 9,529 - 1,098 - 42,291 49,182 - 3,893 105,993
Exchange rate changes - - - 5 (432,483) (674,160) - - (1,106,638)
At March 31, 2022 273,629 - 35,079 30,117 2,860,132 3,783,563 - 201,918 7,184,438
Current 74,028 - 12,660 2,858 114,547 24,675 - 3,437 232,205
Noncurrent 199,601 - 22,419 27,259 2,745,585 3,758,888 - 198,481 6,952,233
At March 31, 2022 273,629 - 35,079 30,117 2,860,132 3,783,563 - 201,918 7,184,438
At December 31, 2020 175,766 176,281 415,571 30,047 269,012 - - - 1,066,677
Acquisition of company - - - - - - 9,089 - 9,089
Funding 400,000 - - - 2,449,275 2,683,500 - - 5,532,775
Amortization (3,000) (175,448) (414,690) - - - - - (593,138)
Interest paid (469) (4,096) (5,827) (325) (2,081) - - - (12,798)
Interest incurred 3,941 3,263 4,946 335 1,085 21,602 - - 35,172
Expenses to be recognized (2,379) - - - - (18,191) - - (20,570)
Exchange rate changes - - - - (14,751) 165,150 - - 150,399
At March 31, 2021 573,859 - - 30,057 2,702,540 2,852,061 9,089 - 6,167,606
Current 199,048 - - 24 144 3,411 - - 202,627
Noncurrent 374,811 - - 30,033 2,702,396 2,848,650 9,089 - 5,964,979
Total 573,859 - - 30,057 2,702,540 2,852,061 9,089 - 6,167,606

Schedule Annual average rate (%) Average rate structure Maturity

Commercial
14.55% 2.60% + CDI Feb-2027
notes
Promissory
14.68% CDI + 2.45% CDI + 2.70% CDI + 3.00% Mar/23 - Mar/24 - Mar/25
notes
CCB 2.95% CDI+2.95% Nov-2024
FINEP 6.08% TLP + 5% Jul/30
1.7%// AGO21_FEV22_AGO22_FEV23_AGO23_FEV24_AGO24_FEV24_AGO25_FEV26)
Loans 4131 Eur+1.70%
10,18354945%//1,5529404% (jul/25) // 01/03/2027
Senior Notes
5.25% 5.25% Aug/22-23-24, Feb/24, Aug/25
"Bond"

(i) Promissory notes ('NPs’) refer to notes acquired from financial institutions to strengthen working
capital, and cash management to finance the renewal and expansion of the vehicle fleet, in the ordinary
course of business. These transactions contain covenant clauses, including the maintenance of certain
financial ratios, linked to the percentage of debt and finance expenses in relation to earnings before
interest, taxes, depreciation and amortization (EBITDA), measured annually based on the performance
of the consolidated Movida. In the event of noncompliance, amortization may be accelerated.

(ii) Bank Credit Bills (CCBs) refer to bills acquired from financial institutions to subsidize the working
capital and finance the purchase of vehicles, machinery and equipment for operations. These
agreements have varying maturities, either monthly, quarterly, semi-annually or bullet, and some CCBs
have covenants including the maintenance of certain financial ratios, linked to the proportion of debt to

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 EBITDA, measured annually based on the performance of the parent Movida and its subsidiaries. In the
event of noncompliance, amortization may be accelerated.

(iii) Financier of Studies and Projects (FINEP) refer to financing agreements with the Financier of Studies
and Projects - FINEP, with the purpose of investing in research and development projects for
technological innovations. This transaction has no covenant clauses. Principal will be repaid at the end
of the contract

(iv) International credit (4131) refers to borrowing transactions with foreign financial institutions, with semi-
annual payment of interest and annual amortization of the principal, with installments payable in March
2023, 2024 and 2025. This transaction contains covenant clauses, including the maintenance of certain
financial ratios, linked to the percentage of debt and finance expenses in relation to earnings before
interest, taxes, depreciation and amortization (EBITDA), measured annually based on the performance
of Movida and its subsidiaries. This transaction is fully hedged through swap agreement (Note 4.4(b)).
In the event of noncompliance, amortization may be accelerated.

(v) Senior Notes “Bond” refer to debt bonds issued by subsidiary Movida Europe in the international
capital market raising USD 500,000 thousand, with maturity on February 8, 2031 and the semi-annual
payment of interest of 5.25% p.a. This operation is 100% protected, through a swap contract and has a
sustainability commitment clause, whereby Movida must observe and promote actions in order to act in
a sustainable manner, such as reducing greenhouse gas emissions and maintaining certification as that
of “Company B”.

As highlighted above, certain sustainable emission commitments were made, the main one being to
reduce its Greenhouse Gas (GHG) intensity by 15% by 2030. The sustainability performance must be
measured until December 31, 2025. Failure to achieve these targets, may generate a future increase in
the cost of said debts, with a spread adjustment of 0.25%, in the interest rate of the Sustainability Linked
Bonds as of August 8, 2026, changing the remuneration from 5.25% to 5 .50% of Movida Europe shares.
The Company has established monitoring mechanisms to meet these commitments.

The following definitions refer to the paragraphs above:

a) Net Debt means the total balance of the Issuer’s short and long-term loans and borrowing, including
debentures and any other debt securities, marketable securities and financial investments, after the
deduction of: (i) cash and short-term investments, namely investments with daily liquidity maturing within
360 days; and (b) loans and borrowing arranged under the program for the financing of the inventories
of new and pre-owned vehicles, locally made or imported, and automotive parts, using revolving credit
facilities from financial institutions linked to the manufacturers.

b) EBITDA means the net profit or loss, on a consolidated basis, for the last 12 months, before: (i) finance
result; (ii) income tax and social contribution; and (iii) depreciation and amortization expenses. For all
issuances of the Group, EBITDA is adjusted by the impairment of assets (loss on the devaluation of
assets and provision for expected credit losses from trade receivables) and equity equivalents.

c) Net finance expenses means borrowing costs plus monetary adjustments, less income from financial
investments, all related to the items described in the definition of Net Debt above, calculated on an
accrual basis over the last 12 months.

All commitments to maintain financial ratios are fulfilled as of March 31, 2022

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15. DEBENTURES

Parent company
3rd Issue 4rd Issue 5rd Issue 6rd Issue 7rd Issue Total
Balance on December 31, 2021 600,284 464,981 610,345 555,849 1,795,010 4,026,469
Interest paid - (19,969) - - (87,680) (107,649)
Appropriate interest 18,224 13,161 19,269 18,431 61,200 130,285
Balance on March 31, 2022 618,508 458,173 629,614 574,280 1,768,530 4,049,105
Current 220,066 9,041 31,476 29,388 8,917 298,888
Not circulant 398,442 449,132 598,138 544,892 1,759,613 3,750,217
Total 618,508 458,173 629,614 574,280 1,768,530 4,049,105

Controladora
1rd Issue 2rd Issue 3rd Issue 4rd Issue 5rd Issue Total
Balance on December 31, 2020 12,044 416,160 595,054 707,212 600,980,00 2,331,450
Amortization (11,892) (278,113) - - - (290,005)
Interest paid (378) (2,799) - (17,655) - (20,832)
Appropriate interest 226 3,149 6,297 11,608 7,102,00 28,382
Balance on March 31, 2021 - 138,397 601,351 701,165 608,082 2,048,995
Current - 138,397 5,036 78,006 10,456 231,895
Not circulant - - 596,315 623,159 597,626 1,817,100
Total - 138,397 601,351 701,165 608,082 2,048,995

Consolidado
3rd Issue- 4rd Issue- 5rd Issue- 6rd Issue- 7rd Issue -
3rd Issue - 5rd Issue - 6rd Issue - 7rd Issue - 8rd Issue -
Parent Parent Parent Parent Parent 2rd Issue - CSP Total
Movida RAC Movida RAC Movida RAC Movida RAC Movida RAC (i)
company company company company company
Balance on December 31, 2021 600,284 464,981 610,345 555,849 1,795,010 211,121 201,987 760,239 398,086 598,187 149,306 6,345,395
Amortization - - - - - (40,000) - - - - - (40,000)
Interest paid - (19,969) - - (87,680) (15,945) - - - - (1,740) (125,334)
Appropriate interest 18,224 13,161 19,269 18,431 61,200 4,901 6,394 34,759 13,049 23,505 - 212,893
Debt spin-off (ii) - - - - - - - - - - (147,566) (147,566)
Balance on March 31, 2022 618,508 458,173 629,614 574,280 1,768,530 160,077 208,381 794,998 411,135 621,692 - 6,245,388
Current 220,066 9,041 31,476 29,388 8,917 83,193 8,620 34,863 15,264 23,056 - 463,884
Not circulant 398,442 449,132 598,138 544,892 1,759,612 76,884 199,761 760,135 395,871 598,636 - 5,781,503
Total 618,508 458,173 629,614 574,280 1,768,529 160,077 208,381 794,998 411,135 621,692 - 6,245,388
(i) 8th Issuance of Movida RAC refers to the migration of CS debentures, due to corporate restructuring.
(ii) Debt spin-off referring to the issuance of the 2nd debentures of CS Participações that was transferred to CS Holding, due to this operation having already been born with authorization in the corporate reorganization

Consolidado
1rd Issue- 2rd Issue- 3rd Issue- 4rd Issue- 5rd Issue-
1rd Issue - 2rd Issue - 3rd Issue - 4rd Issue - 5rd Issue -
Parent Parent Parent Parent Parent Total
Movida RAC Movida RAC Movida RAC Movida RAC Movida RAC
company company company company company
Balance on December 31, 2020 12,044 416,160 595,054 707,212 600,980 188,041 40,200 207,201 200,690,00 199,903 3,167,485
Amortization (11,892) (278,113) - - - (62,500) (40,000) - (200,000) - (592,505)
capture - - - - - - - - - - -
charges to be appropriated - - - - - - - - - - -
Interest paid (378) (2,799) - (17,655) - (5,885) (471) (8,378) (2,913) - (38,479)
Appropriate interest 226 3,149 6,297 11,608 7,102,00 4,207 271 1,754 2,223 2,391 39,228
Balance on March 31, 2021 - 138,397 601,351 701,165 608,082 123,863 - 200,577 - 202,294 2,575,729
Current - 138,397 5,036 78,006 10,456 61,390 - 41,043 - 2,892 337,220
Not circulant - - 596,315 623,159 597,626 62,473 - 159,534 - 199,402 2,238,509
Total - 138,397 601,351 701,165 608,082 123,863 - 200,577 - 202,294 2,575,729

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 The characteristics of the debentures are presented in the table below:
Issuer Movida Participações Movida Locação CS Brasil Participações
1st 2nd 2nd 6th 1st 2nd
Description 3rd issuance 4th issuance 5th issuance 6th issuance 7th issuance 1st issuance 3rd issuance 4th issuance 5th issuance 7th issuance 8th issuance
issuance issuance issuance issuance issuance issuance
a. Identification of the
process by nature
CEF/ Itaú/ BOCOM BOCOM Bradesco BTG BTG
Financial institution Bradesco Bradesco BTG Pactual Itaú Santander BTG/ CEF Bradesco BB Santander XP UBS BRASIL
SAFRA BBM BBM BBI PACTUAL PACTUAL
st
1 series amount 150,000 138,250 214,478 250,000 250,000 550,000 1,150,000 250,000 100,000 100,000 200,000 200,000 400,000 400,000 600,000 600,000 15,000
2nd series amount 250,000 181,500 138,112 166,000 350,000 - 250,000 - - - - - 300,000 - - - -
3rd series amount - 130,250 247,410 284,000 - - 350,000 - - - - - - - - - -
Financial institution - - - Brazil - - - - - Brazil Brazil - - - - - -
1st series amount - - - - - - - - - 100,000 - - - - - - -
2nd series amount - - - - - - - - - - - - - - - - -
Total 400,000 450,000 600,000 700,000 600,000 550,000 1,750,000 250,000 100,000 200,000 200,000 200,000 700,000 400 600 600,000 15,000
Issue 07/04/2017 06/07/2018 01/04/2019 06/27/2019 11/06/2020 04/23/2021 09/15/2021 04/13/2018 10/31/2018 06/27/2019 04/30/2020 11/24/2020 04/16/2021 11/30/2021 12/21/2020 12/10/2020 12/15/2020
Funding 07/27/2017 06/07/2018 01/04/2019 06/27/2019 11/06/2020 04/23/2021 09/15/2021 04/13/2018 10/31/2018 06/27/2019 04/30/2020 11/24/2020 04/16/2021 11/30/2021 12/28/2021 12/21/2020 12/17/2020
07/15/2020
6/15/2028 -
Maturity and 06/07/2023 06/07/2024 07/27/2027 10/15/2025 04/15/2027 09/15/2031 03/29/2023 10/10/2021 01/24/2024 04/20/2022 11/18/2023 11/30/2026 1012/2025 12/10/2025 12/15/2025
12/15/2025
07/15/2022
Type Unsecured Unsecured Unsecured Unsecured Unsecured Unsecured Unsecured Unsecured Unsecured Unsecured Unsecured Unsecured Unsecured Unsecured Floating
Identification of the asset with MOVI MOVI MOVI MOVI
MOVI 11/21 MOVI 15/25 MOVI16 MVLV11 MVLV12 MVLV13 MVLV14 MVLV15 MVLV26 MVLV17 CSBR11 CSBR 11 CSBR 12
B3 12/22/32 13/23/33 14/24/34 17/27/37
b. Effective interest rate p.a.
%
CDI + CDI + CDI + CDI + CDI + CDI + CDI + CDI + CDI + CDI + IPCA+
1st series CDI + 2.70% CDI+2.00% CDI + 2.90% CDI3.70% CDI3.70% CDI2.90%
+1.55% +1.60% +1.85% +1.25% +2.50% +3.20% +1.80% +1.60% +4.20% +2.75% 7.1702%
CDI + CDI + CDI + IPCA+
2nd series CDI+2.70% CDI + 2.95% - CDI2.90% - - - - - - - - -
+2.20% +2.05% +1.60% 7.2413%a.a
CDI + CDI +
3rd series - CDI+1.90% - - IPCA7.64% - - - - - - - - - -
+2.05% +2.05%
c. Total amount of the debt - - 618,508 458,174 629,613 574,280 1,768,530 - - 153,432 - 208,381 794,998 398,086 598,187 - 149,306

All debentures have clauses of requiring the maintenance of financial ratios of debt and finance expenses to earnings before interest, taxes, depreciation and
amortization, plus the cost of sale of assets used in services rendered, calculated over the last 12 months (EBITDA) from Movida. In the event of noncompliance, the
amortization may be accelerated. These debentures do not have any guarantees.

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16. RIGHT-OF-USE LEASES

The Company leases its vehicles, which were classified as operating leases.

The Company subleased vehicles. In accordance with CPC 06(R1) /IAS 17, the lease and sublease contracts
were classified as operating leases. The Company assessed the classification of sublease contracts with
reference to the right-of-use asset, and not the underlying asset, and concluded that they are operating leases
in accordance with CPC 06(R2) /IFRS 16.

The parent company Movida RAC (Rent a Car) leases vehicles to the parent company with an average term
of 3 years, classified as operating leases, since the contractual flow of operations considers the sale of the
asset at market value after the average period of 3 years and that there is no option to sell and transfer the
asset to the service provider.

The Company has applied CPC 47 / IFRS 15 - Revenue from Contracts with Customers to allocate the
consideration in the contract to each lease and non-lease component.

The Company reached its discount rates, based on the risk-free interest rates observed in the Brazilian market,
for the terms of its contracts, adjusted to the reality of the company (credit spread). The spreads were obtained
through surveys with potential investors of the company’s debt securities. The table below shows the rates
charged vis-à-vis the terms of the contracts, as required by CPC 12, §33: The Company updates the rates on
a quarterly basis and the information regarding the period ended March 31, 2022 is presented below:

Contracts by term and discount rate

Parent company and Consolidated
Contracted terms Average rate - year ended December 31, 2021
1 12.99%
2 14.31%
3 13.33%
5 13.36%
10 13.92%
15 14.08%
20 14.12%

Information on lease liabilities for which Movida is the lessee is presented below:

Parent Company Consolidated

Vehicles (i) Properties Total Vehicles (i) Properties Total
Balance on December 31. 2021 119,335 34,121 153,456 11,513 396,513 408,026
additions 220,556 2,933 223,489 14,350 28,881 43,231
write-offs (117,535) - (117,535) (242) - (242)
principal payment (34,334) (1,028) (35,362) (5,926) (27,978) (33,904)
interest payment (3,599) (499) (4,098) (401) (6,824) (7,225)
appropriate interest 3,615 799 4,414 542 9,585 10,127
Balance on March 31, 2022 188,038 36,326 224,364 19,836 400,177 420,013
Current 103,717 5,129 108,846 19,836 88,431 108,267
Not cisrculant 84,321 31,197 115,518 - 311,746 311,746
Total 188,038 36,326 224,364 19,836 400,177 420,013

Balance on December 31, 2020 344.551 - 344.551 - 172.796 172.796

additions 115.224 - 115.224 - 168.529 168.529
write-offs (17.796) - (17.796) - (7.548) (7.548)
principal payment (55.927) - (55.927) - (20.165) (20.165)
interest payment (7.667) - (7.667) - (5.064) (5.064)
appropriate interest 6.650 - 6.650 - 6.883 6.883
Balance on March 31, 2021 385.035 - 385.035 - 315.431 315.431
Current 203.593 - 203.593 - 61.994 61.994
Not cisrculant 181.442 - 181.442 - 253.437 253.437
Total 385.035 - 385.035 - 315.431
(i) Refers to the movement of subleased vehicles.

Lease maturity schedule:

Parent company Consolidated
Vehicles Properties 03/31/2022 Vehicles Properties 12/31/2021 Vehicles Properties 03/31/2022 Vehicles Properties 12/31/2021
Current liabilities 103,717 5,129 108,846 69,773 2,872 72,645 19,836 86,741 106,577 11,514 91,530 103,044
After 1st year 60,792 2,784 63,576 37,287 3,198 40,485 - 97,195 97,195 - 87,682 87,682
After 2nd year 20,594 3,016 23,610 11,580 3,415 14,995 - 75,576 75,576 - 73,201 73,201
After 3rd year 2,781 2,769 5,550 631 3,664 4,295 - 54,385 54,385 - 55,208 55,208
After 4th year 148 1,456 1,604 63 1,552 1,615 - 22,665 22,665 - 25,076 25,076
Over 5 years 7 21,172 21,179 1 19,420 19,421 - 63,616 63,616 - 63,816 63,816
Noncurrent liabilities 84,322 31,197 115,519 49,562 31,249 80,811 - 313,436 313,436 - 304,983 304,983
Total 188,039 36,326 224,365 119,335 34,121 153,456 19,836 400,177 420,013 11,514 396,513 408,027

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 The table below shows the potential right of PIS / COFINS recoverable embedded in the lease
consideration, according to the periods foreseen for payment. These are both undiscounted balances and
balances discounted to present value.

Present value adjustment

Cash flows Parent company Consolidated
Lease consideration 224,364 420,013
PIS/COFINS 20,754 38,851

For the period ended March 31, 2022, the Company recognized PIS/COFINS credits of R$ 20,754 in the
Parent company and R$ 38,851 in the consolidated.

Pursuant to Circular Letter CVM/SNC/SEP/02/2019, this meets the requirement for the presentation of
comparative balances with the application of projected inflation of the right-of-use assets, right-of-use lease
liability, depreciation and financial expenses. The Company estimates a projected inflation rate of 17.78%,
considering this rate, the following effects are estimated for the period ended March 31, 2022:

Parent company Consolidated

Cash flows Book value Projected inflation Book value Projected inflation
Right-of-use asset, net 220,489 259,560 396,007 466,179
Lease liabilities 224,364 264,121 420,011 494,437

Depreciation expense 36,551 43,028 212,836 250,551

Finance expenses 138,683 163,258 271,172 319,224

16.1. Variable and short-term lease payments

In the period ended March 31, 2022, Movida recognized R$ 12,676 (R$ 31,397 at December 31, 2021) related
to expenses with variable and short-term lease payments.

16.2. Analysis of leases payable

Lease agreements for the acquisition of vehicles and assets of Movida operating activity which have annual
fixed charges, and are distributed as follows:

Consolidated
At December 31, 2021 45,121
Principal paid (6,466)
Interest paid (10,174)
Interest incurred 436
At March 31, 2022 28,917
Current 25,728
Noncurrent 3,189
Total 28,917

16.3. As a lessor

When the Company acted as a lessor, it determined at lease inception whether each lease was a finance lease
or an operating lease.

To classify each lease, Movida made an overall assessment of whether the lease transferred substantially all
the risks and rewards incidental to ownership of the underlying asset. If this was the case, the lease was a
finance lease; if not, it was an operating lease. As part of this assessment, Movida considered certain indicators
such as whether the lease was for the greater part of the economic life of the asset.
The following table presents a maturity analysis of lease payments, showing the undiscounted lease payments
that will be received after the reporting date.

Up to 1 year 1 to 2 years 2 to 3 years 3 to 4 years 4 to 5 years Over 5 years Total

Leases receivable 173,967 313,312 323,719 21,271 724 298 833,291

Total 173,967 313,312 323,719 21,271 724 298 833,291

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17. PROVISION FOR JUDICIAL AND ADMINISTRATIVE LITIGATION AND JUDICIAL DEPOSITS

Movida is a party to a number of civil, labor and tax lawsuits and administrative lawsuits. A provision is
established for all demands arising from lawsuits for which it is probable that an outflow of funds will be made
to settle a contingency and/or an obligation, and where a reasonable estimate of this outflow can be made.
The assessment of the likelihood of loss includes the assessment of available evidence, hierarchy of laws,
available case laws, recent court decisions and their relevance in the legal system, as well as the assessment
made by outside lawyers.
The provision is reviewed and adjusted to account for changes in circumstances, such as the applicable
limitation period, completion of tax inspections, or additional exposure identified on the basis of new matters
or court decisions.

The nature of the lawsuits is as follows:

Civil - Civil lawsuits do not individually involve material amounts and are mainly related to alleged failure to
provide services (mainly credit card billing issues related to leasing in general, vehicle damages and traffic
fines), termination of contract of sale and purchase of assets (vehicles), as well as lawsuits involving traffic
accidents filed by third parties and regressive action of insurers.

Tax - Tax lawsuits do not discuss significant amounts and are mainly related to some tax assessment notices
regarding improper collection of ICMS and ISS debts, as well as tax execution/motion to stay execution arising
from the collection of IPVA, advertising fees and other.

Labor - Labor lawsuits do not individually involve material amounts and the related provision was recognized
to cover the risks of loss arising from lawsuits claiming compensation for overtime, commissions, hazardous
duty premium, health hazard premium, work accidents and lawsuits filed by employees of third parties due to
the subsidiary liability.

17.1. Judicial deposits and provision for judicial and administrative litigation

The table below presents an analysis by nature of judicial deposits and provisions at March 31, 2022 and
December 31, 2021.

Judicial deposits Provisions

Parent Company Consolidated Parent company Consolidated
03/31/2022 12/31/2021 03/31/2022 12/31/2021 03/31/2022 12/31/2021 03/31/2022 12/31/2021
Civil 18 17 1,509 1,037 249 255 2,587 2,578
Tax 5,394 4,823 5,398 4,827 - - - -
Labor 22 18 1,146 596 49 49 2,720 2,134
Total 5,434 4,858 8,053 6,460 298 304 5,307 4,712

Judicial deposits refer to: (i) judicial bank accounts or blocking of bank balances to guarantee any executions
required in court; or (ii) deposits in a judicial account in lieu of tax payments or payables that are being
discussed in court.

17.2. Changes in the provision for judicial and administrative litigation

The movements in the provision for judicial and administrative litigation for the periods ended March 31, 2022
and 2021 are as follows:

Parent company Consolidated

Civil Labor Total Civil Labor Total
At December 31, 2021 255 49 304 2,578 2,134 4,712
Additions 7 - 7 520 705 1,225
Reversals (13) - (13) (511) (119) (630)
At March 31, 2022 249 49 298 2,587 2,720 5,307

At December 31, 2021 115 69 184 2,646 2,078 4,724

Additions - - - 895 140 1,035
Reversals - - - (798) (406) (1,204)
At March 31, 2021 115 69 184 2,743 1,812 4,555

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17.3. Possible risk of losses for which no provisions are recorded in the statement of financial
position

Movida is a party to civil, labor and tax lawsuits at the judicial or administrative level, with loss considered
possible by Management under the advice of its legal counsel and for which no provision was recorded.

The amounts involved in the litigations are shown below:

Parent company Consolidated

03/31/2022 12/31/2021 03/31/2022 12/31/2021
Civil 2,015 1,617 30,022 23,477
Labor 207 305 11,525 14,486
Tax 4,312 766 33,919 20,031
Total 6,534 2,688 75,466 57,994

Possible civil case risk of losses refer to complaints from consumers for alleged failure to provide services or
of an indemnity nature for loss of profits and material and moral damages for traffic accidents involving vehicles
in their fleet, not involving individual material amounts.

Management believes that there is no specific procedure adopted that gives rise to labor claims filed against
Movida, and the labor claims filed do not involve individual material amounts and are mainly related to payment
of differences in overtime and commissions, hazardous duty premium, health hazard premium and lawsuits
filed by the employees of outsourced companies.
Tax claims refer to tax assessment notices that are being challenged in respect of the improper collection of
ICMS and ISS debts, and to tax execution/motion to stay execution arising from the collection of IPVA and
PIS/COFINS, advertising fees and other charges.

18. LABOR AND SOCIAL LIABILITIES

18.1 Accounting policy

i) Short-term benefits

Short-term employee benefits are expensed as the related service is provided. A liability is recognized
for an amount expected to be paid whether Movida has a present legal or constructive obligation to
pay this amount as a result of past service provided by the employee and the obligation can be
estimated reliably.

ii) Profit sharing

Movida recognizes a liability and an expense profit sharing based on a methodology that takes into
consideration the profit attributable to Movida's shareholders after adjustments.

18.2. Analysis of labor and social liabilities

Parent company Consolidated
03/31/2022 12/31/2021 03/31/2022 12/31/2021
Provision for vacation, 13th salaries and bonuses 9,171 7,848 53,785 42,211
Salaries 971 923 9,305 9,451
Social security (INSS) 820 601 16,686 13,947
Severance pay fund (FGTS) 74 91 566 1,075
Other 33 12 340 293
Total deferred tax assets 11,069 9,475 80,682 66,977

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19. INCOME TAX AND SOCIAL CONTRIBUTION

19.1. Deferred income tax and social contribution

Deferred income tax (“IRPJ”) and social contribution (“CSLL”) assets and liabilities were calculated based on
the balances of tax loss carryforwards and temporary differences deductible or taxable in the future. Their
origins are comprised as follows:
Parent company Consolidated
03/31/2022 12/31/2021 03/31/2022 12/31/2021
Deferred tax assets:
Income tax and social contribution tax losses 161,955 135,628 348,895 204,582
Provision for judicial and administrative litigation 101 103 1,808 1,602
Provision for expected credit losses from trade receivables 6,147 5,742 43,233 40,376
Impairment of assets - - 3,208 3,208
Recognized in comprehensive income – swap agreement 6,020 6,020 240,035 108,592
Adjustment from effects of adoption of changes of CPC 06 (R2)/IFRS 16 1,778 8,713 9,044 8,079
Other 10,677 57 40,956 26,691
Total deferred tax assets 186,678 156,263 687,179 393,130

Deferred tax liabilities:

Accounting vs. tax depreciation (33,389) (7,960) (1,027,101) (740,662)
Property and equipment - finance leases 1,810 (1,910) (43,652) (41,792)
Recognized in profit or loss – swap agreement - - (3,153) (3,153)
Deferred income from public bodies - - (5,895) (5,460)
Other (3) - 2,691 1,606
Total deferred tax liabilities (31,582) (9,870) (1,077,110) (789,461)
Total net 155,096 146,393 (389,931) (396,332)
Classified as:
Deferred income tax and social contribution assets - noncurrent 155,096 146,393 161,246 154,427
Deferred income tax and social contribution liabilities - noncurrent - - (551,177) (550,758)
Total, net 155,096 146,393 (389,931) (396,331)

MOVEMENT Parent Company Consolidated

Net balance of deferred income tax and social contribution at December 31, 2021 146,393 (396,331)
Income tax and social contribution from the acquisition of Vox Frotas (12,901) -
Income tax and social contribution from the merger of CS Participações and CS Frotas 163 -
Deferred income tax and social contribution recognized in profit or loss 19,182 (103,877)
Deferred income tax and social contribution on IPO costs 19 19
Deferred income tax and social contribution on other comprehensive income 2,240 110,258
Net balance of deferred income tax and social contribution at March 31, 2022 155,096 (389,931)

MOVEMENT Parent Company Consolidated

Net balance of deferred income tax and social contribution at December 31, 2020 108,924 (121,541)
Deferred income tax and social contribution recognized in profit or loss 13,604 (55,857)
Deferred income tax and social contribution on IPO costs - 47,240
Net balance of deferred income tax and social contribution at March 31, 2021 122,528 (130,158)

19.2. Reconciliation of income tax and social contribution (expense) income

Current amounts are calculated based on the current rates levied on taxable profit before income tax and
social contribution, as adjusted by respective additions, exclusions and offsets allowed by the prevailing
legislation.
Parent company Consolidated
03/31/2022 03/31/2021 03/31/2022 03/31/2021
Profit before income tax and contribution 238,912 95,877 362,998 165,666
Statutory rates 34% 34% 34% 34%
IRPJ and CSLL at the standard rates (81,230) (32,598) (123,419) (56,326)
Permanent (additions) exclusions
Equity in results of investees/subsidiaries 82,907 39,014 (13) -
Interest on capital - TLP - Received (854) - 251 -
Interest on capital - TLP - Payment 18,360 9,180 (4,216) 9,180
Nondeductible expenses (1) (8) 22,597 (153)
10% surcharge - - (43) 6
Other exclusions - (1,984) (61) (8,892)
IRPJ and CSLL calculated 19,182 13,604 (104,904) (56,185)
Income tax and social contribution
Current - - (1,346) (328)
Deferred 19,182 13,604 (103,558) (55,857)
IRPJ and CSLL in profit or loss 19,182 13,604 (104,904) (56,185)

Movida's income tax returns are open to review by tax authorities for five years from the filing of the return.
Due to these reviews, additional taxes and penalties may arise, which would be subject to interest. However,
Management believes that all taxes have either been properly paid or accrued for.

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19.3. Income tax and social contribution prepaid
Parent company Consolidated
Income tax and Income tax and Income tax and
social social social
Total, net Total, net
contribution contribution contribution
prepaid prepaid payable
IRPJ and CSLL balance at December 31, 2021 26,304 26,304 79,563 (1,769) 77,794
Reversal/ Provision for income tax and social contribution - - (167) 1,769 1,602
Merger of subsidiaries 4,492 4,492 - - -
Provision for income tax and social contribution 2,696 2,696 (858) - (858)
Income tax and social contribution prepaid 6,413 6,413 10,404 - 10,404
IRPJ/CSLL paid - - 3,472 - 3,472
IRPJ and CSLL balance at March 31, 2022 39,905 39,905 92,414 - 92,414

IRPJ and CSLL balance at December 31, 2020 27,686 27,686 64,329 - 64,329
Addition due to acquisition of company - - 317 (749) (432)
Provision for income tax and social contribution - - - (328) (328)
IRPJ/CSLL paid - - 9,641 - 9,641
Offset of IRPJ/CSLL - - (239) 239 -
Offset against other federal and social security taxes (7,604) (7,604) (18,804) - (18,804)
IRPJ and CSLL balance at March 31, 2021 20,082 20,082 55,244 (838) 54,406

19.4. Estimated realization schedule

Deferred tax assets arising from temporary differences will be used as the respective differences are settled
or carried out.

Consolidated tax losses can be carried forward indefinitely and at March 31, 2022, the deferred income tax
and social contribution are recorded for all accumulated tax losses.

In estimating the realization of deferred tax assets, Management considers its budget and strategic plan based
on the estimated realization schedule of assets and liabilities that gave rise to them, and in earnings projections
for the subsequent years.

The following schedule was drawn up for the realization of deferred income tax and social contribution credits:

Year Parent company Consolidated

2022 8,073 8,393
2023 28,977 30,126
2024 20,372 21,180
2025 23,828 24,772
2026 39,426 40,989
2027 to 2029 34,420 35,784
Total 155,096 161,244

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20. EQUITY

i. Common shares

Common shares are classified as equity. Incremental costs directly attributable to the issuance of new shares
are shown in equity as a deduction, net of tax, from the proceeds.

ii. Repurchase and redemption of shares (treasury shares)

When shares recognized as equity are repurchased, the consideration paid, which includes any directly
attributable costs, is recognized as a deduction from equity.

The repurchased shares are classified as treasury shares and are presented as a deduction of equity. When
treasury shares are subsequently sold or reissued, the amount received is recognized as an increase in equity,
and the gain or loss resulting from the transaction is presented as a capital reserve.

iii. Capital reserve

Capital reserves reflect amounts received by the Company that do not flow through profit or loss. The
respective reserve essentially reflects the contributions made by shareholders that are directly related to the
formation or increase of the capital. The capital reserves are a group of accounts within Equity.

20.1. Share capital

The Company’s capital stock, fully subscribed and paid-in, at March 31, 2022 is R$ 2,590,776 (R$ 2,590,702
at December 31, 2021), divided into 362,302,086 common shares, without par value (362,302,086 at
December 31, 2021).

The composition of the share capital at March 31, 2022 is as follows:

03/31/2022
Common shares (%)
(i)
Simpar S.A. 232,229,018 64.1%
Treasury shares 987,580 0.3%
Other 129,085,488 35.6%
Total 362,302,086 100%
(i) In this quarter, SIMPAR acquired a total of 4,114,700 (four million, one hundred and fourteen thousand and seven hundred) common shares issued by the Company. The average
value per share is R$14.89.

20.2. Treasury shares

At March 31, 2022, the Company repurchased own shares for R$ 10 (R$ 10,667 at December 31, 2021). Thus,
the balance of treasury shares at March 31, 2022 is R$ 12,649 (R$ 12,639 at December 31, 2021). The shares
were acquired for treasury, to cover any exercise of options within the scope of the share-based compensation
plan.

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20.3. Share-based compensation plan

The Parent Company Simpar S.A. created in 2010 a Stock Option Plan, prior to Movida’s IPO, for which the
Company has granted stock options of Simpar to some members of its Executive Board.

The program is intended to allow beneficiaries to receive restricted stock in order to: (a) stimulate the
expansion, success and achievement of Movida’s corporate purposes; (b) align the interests of Movida
shareholders with those of the beneficiaries; and (c) allow Movida or its subsidiaries to attract and retain the
beneficiaries.

The awards granted to beneficiaries, plus the options or other rights to receive shares issued by Movida under
stock option programs or share-based compensation programs to be approved in the future, may entitle them
to a number of shares not to exceed, at any time, 5% of the total voting capital of Movida, on a fully diluted
basis.

The following table sets forth the quantity and weighted average exercise price and the movements of stock
options:
Quantity of stock options (Parent company)
Stock options
Granted Canceled Exercised
outstanding

Position at December 31, 2021 669,294 (30,144) (282,994) 356,156

Granted in 2022 - - - -
Position at March 31, 2022 669,294 (30,144) (282,994) 356,156

Position at December 31, 2020 402,176 (30,144) (118,331) 253,701

Granted in 2021 - - (55,551) (55,551)
Position at March 31, 2021 402,176 (30,144) (173,882) 198,150

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20.4. Restricted stock plan and matching

At the Extraordinary General Meeting held on January 13, 2017, approval was given for the restricted stock program for Movida’s officers, employees and service
providers. The restricted stock plan consists of the delivery by Movida (restricted shares) to its employees as part of the payment of variable compensation of the
beneficiaries as bonds, in annual installments for four years. In addition, employees may, at their sole discretion, opt to receive an additional portion of the variable
compensation amount as a bonus paid in the form of Movida's shares, and in case the employee opts to receive shares, Movida will provide the employee with 1
matching share for each 1 own share received by the employee, within the limits established in the program. The granting of the right to receive restricted share and
matching shares is made through the conclusion of a Grant Agreement between Movida and the employee. Thus, the plan seeks to: (a) stimulate the expansion, success
and achievement of Movida and its subsidiaries' social objectives; (b) align the interests of Movida and its subsidiaries’ shareholders with those of its employees; and
(c) enable Movida and its subsidiaries to attract and retain the beneficiaries.

In order to calculate the number of restricted shares to be delivered to the employee, the net value earned by the employee will be divided by the average quotation of
Movida shares on B3 S.A. - Brasil, Bolsa, Balcão, weighted by the trading volume in the last 30 pre-dates prior to each date of acquisition of the rights related to the
restricted shares.

Restricted and matching shares granted will be redeemed only after the minimum terms stipulated by the plan and according to the characteristics indicated in the
following tables:

Fair value of the Restricted

Year of Number of Exercise Risk-free Expected
Plan Tranche option on the Volatility stock plan Acquisition period Transfer date
grant shares price interest rate dividends
grant date life
01/18 2018 47,565 1 6.99 7.900 33.92% 6.38% 2.22% 5 years 04/23/2018 to 04/24/2019 04/24/2019
01/18 2018 47,565 2 6.99 7.760 33.92% 7.25% 2.22% 5 years 04/23/2018 to 04/24/2020 04/24/2020
01/18 2018 47,565 3 6.99 7.620 33.92% 8.19% 2.22% 5 years 04/23/2018 to 04/24/2021 04/24/2021
01/18 2018 47,630 4 6.99 7.480 33.92% 8.89% 2.22% 5 years 04/23/2018 to 04/24/2022 04/24/2022
01/19 2019 213,081 1 7.87 7.425 41.74% 6.42% 2.22% 5 years 05/02/2019 to 05/01/2020 05/02/2020
01/19 2019 213,081 2 7.87 7.425 41.74% 6.42% 2.22% 5 years 05/02/2019 to 05/01/2021 05/02/2021
01/19 2019 213,081 3 7.87 7.425 41.74% 6.42% 2.22% 5 years 05/02/2019 to 05/01/2022 05/02/2022
01/19 2019 213,267 4 7.87 7.425 41.74% 6.42% 2.22% 5 years 05/02/2019 to 05/01/2023 05/02/2023
FOLLOW ON 2019 83,900 1 14.66 13.831 41.74% 6.42% 2.22% 3 years 10/03/2019 to 07/30/2022 07/31/2022
ROUTE 2019 23,354 1 7.87 7.425 41.74% 6.42% 2.22% 3 years 05/02/2019 to 05/01/2020 04/29/2020
ROUTE 2019 23,354 2 7.87 7.425 41.74% 6.42% 2.22% 3 years 05/02/2019 to 05/01/2021 04/29/2021
ROUTE 2019 23,354 3 7.87 7.425 41.74% 6.42% 2.22% 3 years 05/02/2019 to 05/01/2022 04/29/2022
01/20 2020 42,046 1 17.4 16.698 40.44% 2.15% 2.82% 5 years 05/04/2020 to 05/03/2021 05/04/2021
01/20 2020 42,046 2 17.4 16.698 40.44% 2.15% 2.82% 5 years 05/04/2020 to 05/03/2022 05/04/2022
01/20 2020 42,046 3 17.4 16.698 40.44% 2.15% 2.82% 5 years 05/04/2020 to 05/03/2023 05/04/2023
01/20 2020 42,004 4 17.4 16.698 40.44% 2.15% 2.82% 5 years 05/04/2020 to 05/03/2024 05/04/2024
ROUTE 2020 16,047 1 17.4 16.698 40.44% 2.15% 2.82% 3 years 04/28/2020 to 04/27/2021 04/28/2021
ROUTE 2020 16,047 2 17.4 16.698 40.44% 2.15% 2.82% 3 years 04/28/2020 to 04/27/2022 04/28/2022
ROUTE 2020 16,064 3 17.4 16.698 40.44% 2.15% 2.82% 3 years 04/28/2020 to 04/27/2023 04/28/2023

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Number of restricted shares:

Number of restricted shares (Parent company)
Outstanding
Granted Canceled Transfer
restricted shares

Position at December 31, 2021 1,537,847 (87,992) (625,931) 823,923

Granted in 2022 - (2,233) - (2,233)
Position at March 31, 2022 1,537,847 (90,225) (625,931) 821,690

Position at December 31, 2020 1,413,098 (76,197) (327,256) 1,009,645

Granted in 2021 - - - -
Position at March 31, 2021 1,413,098 (76,197) (327,256) 1,009,645

20.5. Capital reserves

The capital reserves reflect the gain on the sale of shares at market price for the granting of awards to the
executives of Movida.

No amount was recorded in profit or loss for the period ended March 31, 2022 (R$ 8 at March 31, 2021) under
“Administrative Expenses” as compensation for the share-based payment plans, and the balance accumulated
in the capital reserve account related to these plans in equity is R$ 61,633 at March 31, 2022 (R$ 61,633 at
December 31, 2021).

20.6. Revenue reserves

Revenue reserves are recognized by appropriation of Movida’s earnings, as provided for in paragraph 4 of art.
182 of Law 6,404/76. According to paragraph 6 of art. 202 of this Law, added by Law 10,303/01, if there are
any unappropriated profits, after allocation to mandatory dividends and other capital reserves.

These comprise: legal reserve, in the amount of R$ 74,701 at March 31, 2022 and December 31, 2021,
investment reserve in the amount of R$ 729,900 at March 31, 2022 and December 31, 2021, retained earnings
in the amount of R$ 109,359 at March 31, 2022 and December 31, 2021, and accumulated profits in the
amount of R$ 204,095 at March 31, 2022 and R$ 258,094 at December 31, 2021. Additionally, the earnings
reserve is comprised of: (i) statutory reserve; (ii) contingency reserve; (ii) unrealized earnings reserve; (ii)
earnings reserve for expansion; (iv) tax incentive reserve; and (v) special reserve for mandatory dividends not
distributed; for which Movida has no balance recorded in the periods ended March 31, 2022 and December
31, 2021.

The balance in the retained earnings reserve refers to retained earnings based on the capital budget,
established under the terms of article 196 of the Brazilian Corporation Law, and approved at the Annual
Shareholders’ General Meeting held on April 26, 2019. At a meeting of the Board of Directors, the shareholders
approved the inclusion in Management’s proposal to be analyzed at the Extraordinary General Meeting (EGM),
held on April 30, 2020, the reclassification of these retained earnings to the Investment Reserve. The
reclassification will be reflected in the individual and consolidated quarterly financial information subsequent
to the EGM’s approval.

20.7. Investment reserve

Movida maintains a “Investment Reserve” of R$ 729,900 at March 31, 2022 and December 31, 2021, which
will finance the expansion of the activities of Movida and/or its subsidiaries and associates, including through
the subscription of capital increases or the creation of new ventures, which will be formed with up to 100% of
the profit outstanding that remains after the legal and statutory deductions. The balances cannot exceed 80%
of Movida's subscribed capital, and the balance of this reserve plus other profit reserves, except for the
unrealized profit reserve and the contingency reserve, cannot exceed 100% of Movida's subscribed capital.

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20.8. Dividends and interest on capital payable

Pursuant to Movida’s Bylaws, the shareholders are entitled to annual mandatory dividend not lower than 25%
of Movida annual profit, adjusted by the following additions or exclusions:
● 5% allocated to the legal reserve;

● Amount for the contingency reserve and reversal of the same reserves recorded in prior years. A portion
of the profit may also be retained for the “investment reserve”.

The amount to be distributed must be approved at the Annual General Meeting (AGM) that also approves
Management accounts related to the prior year, based on the proposal submitted by the Executive Board and
approved by the Board of Directors. Dividends are distributed in accordance with the resolution of this AGM,
held in the first four months of each year.

Movida’s Bylaws permit the distribution of interim dividends, as an advance towards the minimum mandatory
dividends.

At March 31, 2022, “dividends payable” include R$ 137,516 (R$ 130,121 at December 31, 2021) referring to
dividends and interest on capital accumulated.

Consolidated
Dividends
Interest on capital Total
payable
At December 31, 2021 47,108 83,013 130,121
Interest on capital paid (39,311) - (39,311)
Profit distribution 54,000 - 54,000
Withholding Income Tax (IRRF) (7,294) - (7,294)
At March 31, 2022 54,503 83,013 137,516

At December 31, 2020 37,400 - 37,400

Profit distribution 27,000 - 27,000
Withholding Income Tax (IRRF) (4,050) - (4,050)
At March 31, 2021 60,350 - 60,350

21. NET REVENUE FROM LEASES, RENDERING SERVICES AND SALE OF ASSETS USED IN
SERVICES RENDERED

Rent a Car GTF Consolidated

03/31/2022 03/31/2021 03/31/2022 03/31/2021 03/31/2022 03/31/2021
Net revenue
Revenue from vehicle rental 594,665 365,079 - - 594,665 365,079
Revenue from fleet management and outsourcing - - 397,364 165,270 397,364 165,270
Revenue from sales of assets 862,307 200,708 111,455 73,832 973,762 274,540
Total net revenue 1,456,972 565,787 508,819 239,102 1,965,791 804,889
Timing of revenue recognition
Products and services transferred at a point in time 862,307 200,708 111,455 73,832 973,762 274,540
Products and services transferred over time 594,665 365,079 397,364 165,270 992,029 530,349
Total net revenue 1,456,972 565,787 508,819 239,102 1,965,791 804,889

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21.1. Analysis of revenue from contracts with customers

The following table presents the analytical composition of the revenue from contracts with customers of the
main business lines and the timing of revenue recognition. It also includes reconciliation of the analytical
composition of revenue with Movida’s reportable segments.

Parent company Consolidated

03/31/2022 03/31/2021 03/31/2022 03/31/2021
Revenue from vehicle rental (a) - - 666,098 414,192
Revenue from fleet outsourcing and management (a) 209,617 146,916 442,530 184,176
Revenue from sales of assets (b) 14,613 1,507 981,517 277,944
Gross revenue 224,230 148,423 2,090,145 876,312
(-) Revenue deductions
Taxes on sales (c) (19,285) (13,442) (110,788) (63,935)
Returns and rebates (1,162) (1,606) (6,580) (4,466)
Discounts granted - (397) (6,956) (3,022)
(20,447) (15,445) (124,354) (71,423)
Total net revenue 203,783 132,978 1,965,791 804,889
Timing of revenue recognition
Products transferred at a point in time 14,613 1,111 981,517 274,922
Products and services transferred over time 189,170 131,867 984,274 529,967
Total net revenue 203,783 132,978 1,965,791 804,889

(a) Revenue recognition in accordance with CPC 06 (R2) / IFRS 16 - Leases.

(b) Revenue recognition in accordance with CPC 47 (R2) / IFRS 15 - Revenue from Contracts with Customers.
(c) Taxes levied on sales refer mainly to municipal taxes on services (rates of 2% to 5%) and contributions related to PIS (rate of 1.65%)
and COFINS (rate of 7.6%).

22. EXPENSES BY NATURE

Movida's statement of profit or loss is presented by function. Expenses by nature are as follows:
Parent company Consolidated
03/31/2022 03/31/2021 03/31/2022 03/31/2021
Cost of sale of assets used in lease and services rendered (10,944) (1,041) (714,776) (214,626)
Personnel expenses (3,912) (10,947) (103,738) (70,795)
Depreciation and amortization (36,549) (56,092) (212,836) (62,178)
Expected credit losses from trade receivables (229) (450) (10,547) (6,325)
Communication and publicity (259) (404) (18,371) (12,818)
Building maintenance, water, electricity and telephony (58) (1) (13,946) (11,004)
Vehicle expenses and maintenance (70,459) (50,518) (256,410) (159,152)
PIS/COFINS credits on inputs 10,407 10,327 157,371 59,846
Cost of damaged vehicles sold (ii) (1,996) (1,058) (27,451) (23,731)
Contracted services - (5,606) (75,495) (45,194)
Property leasing (79) 1,034 (12,676) (6,119)
Other income (expenses) 1,139 (252) (26,630) (10,469)
(112,939) (115,008) (1,315,506) (562,565)
(-) Cost of services rendered and sale of assets used in services rendered (108,677) (98,108) (1,080,875) (405,960)
Selling expenses (1,973) (1,196) (103,490) (58,135)
Administrative expenses - (14,212) (89,743) (65,230)
Provision for expected credit losses from trade receivables (229) (450) (10,547) (6,325)
Other operating income (expenses) (2,060) (1,042) (30,851) (26,915)
(112,939) (115,008) (1,315,506) (562,565)
(i) Refers to the cost of vehicles damaged and casualty vehicles written off, net of the respective amount recovered through sale, in the amount of R$ 1,994 (R$ 1,058 at March
31, 2021) in the consolidated.

Movida presented the following amounts of losses with damaged and stolen vehicles:

Damaged vehicles Vehicles

Period (stolen) / Total damaged
Revenue Cost Total
recovered / stolen
From April 1, 2021 to June 30, 2021 25,499 (31,761) (6,262) (12,709) (18,971)
From July 1, 2021 to September 30, 2021 32,269 (38,699) (6,430) (13,621) (20,051)
From October 1, 2021 to December 31, 2021 27,274 (36,511) (9,237) (13,477) (22,714)
From January 1, 2022 to March 31, 2022 29,643 (43,333) (13,689) (13,762) (27,451)
Cumulative total 144,587 (187,635) (43,047) (69,871) (112,918)

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23. FINANCE RESULT

Parent Company Consolidated
03/31/2022 03/31/2021 03/31/2022 03/31/2021
Finance income
Financial investments 50,938 3,243 103,515 5,857
Interest received 338 147 2,574 1,216
Gain (losses) on derivative transactions - - - 11,823
Other finance income 84 508 1,582 4,480
Total finance income 51,359 3,898 107,671 188,526
Total interest and charges on debts
Interest on debentures (130,285) (28,382) (212,895) (39,228)
Interest on loans and borrowings (9,529) (2,762) (105,998) (35,172)
Exchange rate changes on borrowings (18) - 440,513 (14,751)
Gain (losses) on derivative transactions 4,308 - (496,805) -
Interest and charges on leases (9,907) (6,650) (11,425) (6,883)
Interest on suppliers financing – car manufacturers - - (308) (888)
Total interest and charges on debts (145,431) (37,794) (386,918) (96,922)
Other finance expenses
Financial taxes and charges expenses (2,586) (381) (5,281) (1,853)
Interest on other payables (89) - (308) (206)
Other finance expenses (1,407) (1,258) (2,451) (1,053)
Total other finance expenses (4,082) (1,639) (8,040) (3,112)
Total finance expenses (149,513) (39,433) 394,958 (100,034)

Finance result, net (98,154) (35,535) (287,287) (76,658)

24. RELATED PARTY TRANSACTIONS

Management has identified as related parties its shareholders, other companies related to these shareholders,
its managers and other key management personnel and their families, as defined in Pronouncement CPC 5
(R1)/ IAS 24.

Movida through a commercial agreement may sell to the Simpar Group vehicles used in its operation, limited
to 10% of the sales made by Movida in the last 12 months. However, the minimum sale price by Movida must
correspond to the average price of sale of pre-owned vehicles to large groups (according to the make, model
and mileage of each vehicle) practiced by Movida in the 60 days prior to the receipt of the intention to sell.

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24.1. Assets and liabilities with related parties

The balances with related parties are disclosed in the tables below:
Parent Company
Trade receivables Dividends receivable Other credits
Assets 03/31/2022 12/31/2021 03/31/2022 12/31/2021 03/31/2022 12/31/2021
Transactions with the Parent company
Simpar S.A. (note 26.2.2) 370 6 - - - -
Subtotal 370 6 - - - -
Transactions with subsidiaries
Movida Locação de Veículos S.A. 2,880 10 - - 15,315 3,296
Movida Locação de Veículos Premium Ltda. - - - 718 - 36
Movida Europe 9,473 9,473 - - - -
CS Brasil Frotas Ltda. - - - - 21,500 -
CS Brasil Participações S.A. - - 30,560 30,560 - -
Vox Frotas Locadora S.A. - - 647 - 285
Subtotal 12,353 9,483 30,560 31,925 36,815 3,617
Related parties
BBC Leasing Arrendamento Mercantil S.A. - 8 - - - -
Borgato Serviços Agrícolas S.A. 2 - - - - -
Fadel Transporte Ltda. 36 38 - - - -
JSL S.A. 50 30 - - - 1
Original Veículos Ltda. 256 - - - - -
Ponto Veículos Ltda. 171 - - - - -
Pronto Express Logística 74 - - - - -
Transrio Caminhões, Ônibus, Máquinas e Motores Ltda. 7 52 - - - -
Vamos Máquinas Equipamentos S.A. 55 21 - - - -
Vamos Locação de Caminhões, Máquinas e Equipamentos S.A. - 31 - - - 8
Subtotal 651 180 - - - 9
Total 13,374 9,669 30,560 31,925 36,815 3,626

Parent company
Dividends and interest on
Trade payables Other payables
capital payable
Liabilities 03/31/2022 12/31/2021 03/31/2022 12/31/2021 03/31/2022 12/31/2021
Transactions with the Parent company
Simpar S.A. (note 26.2.3) 37 - 85,333 80,665 161 161
Subtotal 37 - 85,333 80,665 161 161
Transactions with subsidiaries
Movida Locação de Veículos S.A. (i) 23,390 15,200 - - 38 39
CS Brasil Frotas Ltda. - - - - 3 -
Subtotal 23,390 15,200 - - 41 45
Related parties
Avante Veículos Ltda. 10 10 - - - -
JSL S.A. 64 - - - 20 75
Original Veículos Ltda. 22 17 - - - -
Original Locad Veic - - - - - 11
Ponto Veículos Ltda. 1 5 - - - -
Subtotal 97 32 - - 20 86
Total 23,524 15,232 85,333 80,665 222 292

(i) Movida Locação de Veículos Ltda., through a commercial agreement, carries out sublease of vehicles
for Movida Participações S.A.

Consolidated
Trade receivables Other credits
Assets 03/31/2022 12/31/2021 03/31/2022 12/31/2021
Transactions with the Parent company
Simpar S.A. 373 8 52 6
Subtotal 373 8 52 6
Related parties
ATU12 Arrend port SPE SA 2
BBC Leasing Arrendamento Mercantil S.A. 101 234 - -
BBC Pagamentos LTDA. 6 2 - -
Borgato Serviços Agrícolas S.A. 131 - - -
CS Brasil Transportes de Passageiros e Serviços Ambientais Ltda. 1,713 1,213 87 26
CS Brasil Holding e Locação S.A. - - 3,556 -
Fadel Transporte Ltda. 38 64 - -
Grãos do Piauí Conc Rod - 10 73 -
JSL S.A. 598 439 - 10
Original Distribuidora Ltda - 1 - -
Original Veículos Ltda. 14,887 18,733 - 1
Original Locad Veic 199 - 1,153 1,153
Ponto Veículos Ltda. 5,706 9,243 - -
Quick Logística Ltda. - - 24 -
Ribeira Empreendimentos Imobiliários Ltda. 8 7 - -
Transrio Caminhões, Ônibus, Máquinas e Motores Ltda. 11 57 - -
Pronto Express Logística 131 - -
Vamos Máquinas Equipamentos S.A. - 168 - -
Vamos Locação de Caminhões, Máquinas e Equipamentos S.A. 2,534 359 3 8
Vamos Com Cam Máq LA Ltda. 1 4 - -
Vamos Com Maq Agric LTDA 37 32 - -
Subtotal 26,101 30,566 4,898 1,198
Total 26,474 30,574 4,950 1,204

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Consolidated
Dividends and interest on
Trade payables Other payables
capital payable
Liabilities 03/31/2022 12/31/2021 03/31/2022 12/31/2021 03/31/2022 12/31/2021
Transactions with the Parent company
Simpar S.A. 663 - 87,681 80,665 264 508
Subtotal 663 - 87,681 80,665 264 508
Transactions with subsidiaries
CS Brasil Frotas Ltda. - 1 - - - -
Subtotal - 1 - - - -
Related parties
Avante Veículos Ltda. 21 19 - - - -
BBC Leasing Arrendamento Mercantil S.A. 20 123 - - - -
BBC Pagamentos 10 - - - - -
Borgato Serviços Agrícolas S.A. 1 - - - -
CS Holding - - - - 641 32
CS Brasil Transportes de Passageiros e Serviços Ambientais Ltda. 3,207 2,145 - - 32,761 32,617
JSL S.A. 929 - - - 143 2,508
Mogi Mob Trans Pass LTDA 49 - - - - -
Original Veículos Ltda. 812 39 - - 104 142
Original Locad Veic 58 58 - - - 918
Ponto Veículos Ltda. 238 377 - - - -
Quick Logística Ltda. 81 - - - 22
Transrio Caminhões, Ônibus, Máquinas e Motores Ltda. - - - - 2 2
Transmoreno 138 - - - - -
Vamos Locação de Caminhões, Máquinas e Equipamentos S.A. - 97 - - 8 129
Vamos Seminovos Ltda. - 18 - - - 49
Subtotal 5,564 2,876 - - 33,659 36,419
Total 6,227 2,877 87,681 80,665 33,923 36,927

24.2. Transactions with the Parent company

24.2.1. Assets
Assets Transactions Specification
Trade
Simpar S.A. Refers to car rental under market conditions
receivables
Simpar S.A. Other credits Refers to reimbursement of expenses and Administrative Service Center ("CSA" – Note 26.5)

24.2.2. Liabilities
Assets Transactions Specification
Simpar S.A. Other payables Refers to reimbursement of expenses and Administrative Service Center ("CSA" – Note 26.5)

24.3. Other related-party transactions

24.3.1. Assets
Assets Relationship Specification
Avante Veículos Ltda. Same shareholder (SIMPAR S.A.) Reimbursement of expenses
ATU12 Arrend port SPE SA Same shareholder (SIMPAR S.A.) Reimbursement of expenses
BBC Leasing Arrendamento Mercantil S.A. Same shareholder (SIMPAR S.A.) Reimbursement of expenses
BBC Pagamentos LTDA. Same shareholder (SIMPAR S.A.) Reimbursement of expenses
Borgato Serviços Agrícolas S.A. Same shareholder (SIMPAR S.A.) Reimbursement of expenses
BMB Mode Center S.A. Same shareholder (SIMPAR S.A.) Reimbursement of expenses
CS Brasil Transportes de Passageiros e Serviços Ambientais Ltda. Same shareholder (SIMPAR S.A.) Reimbursement of expenses
CS Brasil Holding e Locação S.A. Same shareholder (SIMPAR S.A.) Reimbursement of expenses
Fadel Transporte Ltda. Same shareholder (SIMPAR S.A.) Reimbursement of expenses
Instituto Julio Simões Same shareholder (SIMPAR S.A.) Reimbursement of expenses
JSL Arrendamento S.A. Same shareholder (SIMPAR S.A.) Reimbursement of expenses
JSL Concessionárias S.A. Same shareholder (SIMPAR S.A.) Reimbursement of expenses
JSL Corretora Ltda. Same shareholder (SIMPAR S.A.) Reimbursement of expenses
JSL Empreendimentos Imobiliários Ltda. Same shareholder (SIMPAR S.A.) Reimbursement of expenses
Grãos do Piauí Conc Rod Same shareholder (SIMPAR S.A.) Reimbursement of expenses
JSL S.A. Same shareholder (SIMPAR S.A.) Rent a car and reimbursement of expenses
Madre Corretora e Administradora de Seguros Ltda. Same shareholder (SIMPAR S.A.) Reimbursement of expenses
Medlogística Prestação de Serviços de Logística S.A. Same shareholder (SIMPAR S.A.) Reimbursement of expenses
Mobi Transporte Urbano Ltda. Same shareholder (SIMPAR S.A.) Reimbursement of expenses
Mogi Mob Trans Pass LTDA Same shareholder (SIMPAR S.A.) Reimbursement of expenses
Original Distribuidora Ltda Same shareholder (SIMPAR S.A.) Reimbursement of expenses
Original Veículos Ltda. Same shareholder (SIMPAR S.A.) Sale of parts and reimbursement of expenses
Original Locad Veic Same shareholder (SIMPAR S.A.) Reimbursement of expenses
Ponto Veículos Ltda. Same shareholder (SIMPAR S.A.) Reimbursement of expenses
Quick Armazéns Ltda. Same shareholder (SIMPAR S.A.) Reimbursement of expenses
Quick Logística Ltda. Same shareholder (SIMPAR S.A.) Reimbursement of expenses
Ribeira Empreendimentos Imobiliários Ltda. Same shareholder (SIMPAR S.A.) Reimbursement of expenses
Transrio Caminhões, Ônibus, Máquinas e Motores Ltda. Same shareholder (SIMPAR S.A.) Reimbursement of expenses
Pronto Express Logística Same shareholder (SIMPAR S.A.) Reimbursement of expenses
Vamos Máquinas Equipamentos S.A. Same shareholder (SIMPAR S.A.) Reimbursement of expenses
Vamos Locação de Caminhões, Máquinas e Equipamentos S.A. Same shareholder (SIMPAR S.A.) Rent a car and reimbursement of expenses
Vamos Com Cam Máq LA Ltda. Same shareholder (SIMPAR S.A.) Reimbursement of expenses
Vamos Com Maq Agric LTDA Same shareholder (SIMPAR S.A.) Reimbursement of expenses
Vamos Seminovos Ltda. Same shareholder (SIMPAR S.A.) Reimbursement of expenses

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24.3.2. Liabilities
Liabilities Relationship Specification
Avante Veículos Ltda Same shareholder (SIMPAR S.A.) Reimbursement of expenses
BBC Leasing Arrendamento Mercantil S.A. Same shareholder (SIMPAR S.A.) Reimbursement of expenses
Borgato Serviços Agrícolas S.A. Same shareholder (SIMPAR S.A.) Reimbursement of expenses
CS Brasil Transportes de Passageiros e Serviços Ambientais Ltda. Same shareholder (SIMPAR S.A.) Reimbursement of expenses
CS Brasil Frotas Ltda Same shareholder (SIMPAR S.A.) Reimbursement of expenses
Instituto Julio Simões Same shareholder (SIMPAR S.A.) Reimbursement of expenses
JSL Empreendimentos Imobiliários Ltda. Same shareholder (SIMPAR S.A.) Reimbursement of expenses
JSL S.A. Same shareholder (SIMPAR S.A.) Reimbursement of expenses
Madre Corretora e Administradora de Seguros Ltda. Same shareholder (SIMPAR S.A.) Reimbursement of expenses
Medlogística Prestação de Serviços de Logística S.A. Same shareholder (SIMPAR S.A.) Reimbursement of expenses
Mobi Transporte Urbano Ltda. Same shareholder (SIMPAR S.A.) Reimbursement of expenses
Original Veículos Ltda. Same shareholder (SIMPAR S.A.) Purchase of parts and accessories under market conditions
Original Locad Veic Same shareholder (SIMPAR S.A.) Rent a car and reimbursement of expenses
Ribeira Empreendimentos Imobiliários Ltda. Same shareholder (SIMPAR S.A.) Reimbursement of expenses
Transrio Caminhões, Ônibus, Máquinas e Motores Ltda. Same shareholder (SIMPAR S.A.) Reimbursement of expenses
Vamos Locação de Caminhões, Máq. e Equipamentos S.A. Same shareholder (SIMPAR S.A.) Reimbursement of expenses
Vamos Seminovos Same shareholder (SIMPAR S.A.) Reimbursement of expenses
Vamos Máquinas Equip S.A. Same shareholder (SIMPAR S.A.) Reimbursement of expenses
Vox Frotas Locadora Same shareholder (SIMPAR S.A.) Reimbursement of expenses

24.4. Related party transactions with effects in the statement of profit or loss
Parent company
Results Revenue from services rendered Cost of services rendered Fleet renewal revenue Fleet renewal costs Administrative expenses Finance expenses
03/31/2022 03/31/2021 03/31/2022 03/31/2021 03/31/2022 03/31/2021 03/31/2022 03/31/2021 03/31/2022 03/31/2021 03/31/2022 03/31/2021
Transactions with subsidiaries
Movida Locação de Veículos S.A. - 4 (59,336) 77,730 - 213 - (213) (17) - - -
CS Brasil Frotas Ltda. - - - - - - - - - - 10,812 -
Subtotal - 4 (59,336) 77,730 - 213 - (213) (17) - 10,812 -
Related parties - - - - -
BBC Leasing Arrendamento Mercantil S.A. 4 - - - - - - - - - - -
JSL S.A. 35 - (9) - - - - - (10) - - -
Original Veículos Ltda. - - (35) - 256 - (256) - - - - -
Original Locad Veic - - (12) - - - - - - - - -
Ponto Veículos Ltda. - - - - 171 - (171) - - - - -
Pronto Express Logística 167 - 1 - - - - - - - - -
Transrio Caminhões, Ônibus, Máquinas e Motores Ltda. 104 - - - - - - - - - - -
Fadel Transporte Ltda. 105 - - - - - - - - - - -
Vamos Máquinas Equipamentos S.A. 43 - - - - - - - - - - -
Vamos Locação de Caminhões, Máquinas e Equipamentos S.A. 74 - - - - - - - - - - -
Subtotal 532 - (55) - 427 - (427) - (10) - - -
Total 532 4 (59,391) 77,730 427 213 (427) (213) (27) - 10,812 -

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Consolidated
Revenue from services
Results Administrative expenses Finance expenses
rendered Cost of services rendered Fleet renewal revenue Fleet renewal costs
03/31/2022 03/31/2021 03/31/2022 03/31/2021 03/31/2022 03/31/2021 03/31/2022 03/31/2021 03/31/2022 03/31/2021 03/31/2022 03/31/2021
Transactions with the Parent company
Simpar S.A. (note 26.2.2) - - (2) - - - - - (276) - - -
Subtotal - - (2) - - - - - (276) - - -
Transactions with subsidiaries
Movida Locação de Veículos S.A. 30 - (59,347) - - - - - (3,799) - 3,782 -
CS Brasil Participações S.A. - - (6,578) - - - - - (6,107) - 6,107 -
CS Brasil Frotas Ltda. 6,588 6 (30) - 805 - (805) - - - 10,812 -
Subtotal 6,618 6 (65,955) - 805 - (805) (805) (9,906) - 20,701 -
Related parties
Avante Veículos Ltda. - 1 - 5 - - - - - - - -
BBC Leasing Arrendamento Mercantil S.A. 281 404 - - 53 - (53) - - - - -
BBC Pagamentos 5 - (121) - - - - - - - - -
Borgato Serviços Agrícolas S.A. - 76 - - - - - - - - - -
BMB Mode Center S.A. 1 - - - - - - - - - - -
CS Brasil Holding e Locação S.A. - - - - - - - - - - 702 -
CS Brasil Transportes de Passageiros e Serviços Ambientais Ltda. 1,514 274 (132) - 141 - (141) - - - - -
JSL S.A. 1,044 807 (69) - 65 - (65) - (299) - - -
Madre Corretora e Administradora de Seguros Ltda. 12 1 - - - - - - - - - -
Medlogística Prestação de Serviços de Logística S.A. - 31 - - - - - - - - - -
Mogi Mob Trans Pass LTDA - - (55) - - - - - - - - -
Original Distribuidora Ltda - - - - - - - - - - - -
Original Veículos Ltda. 19 15 (517) 2,887 12,642 - (12,642) - (273) - - -
Original Locad Veic - - (6,004) - - - - - - - - -
Ponto Veículos Ltda. 7,070 - (36) 1,952 3,658 - (3,658) - 3,852 - - -
Pronto Express Logística 221 - 1 - - - - - - - - -
Quick Logística Ltda. - - (73) - - - - - - - - -
Ribeira Empreendimentos Imobiliários Ltda. 18 - - - - - - - - - - -
Transrio Caminhões, Ônibus, Máquinas e Motores Ltda. 111 142 - - - - - - (76) - - -
Fadel Transporte Ltda. 129 - - - - - - - - - - -
Transmoreno Tran Log Ltda - - (108) - - - - - - - - -
Vamos Máquinas Equipamentos S.A. 329 - - - - - - - - - - -
Vamos Locação de Caminhões, Máquinas e Equipamentos S.A. 367 204 - - 4,533 324 (4,533) (324) - - - -
Vamos Comércio de Caminhões e Máquinas Linha Amarela Ltda. 2 1 - - 108 - (108) - - - - -
Vamos Comércio de Máquinas Agrícolas Ltda. 57 - - - - - - - - - - -
Vamos Seminovos Ltda. - - - - - - - - (28) - - -
Subtotal 11,180 1,956 (7,114) 4,844 21,200 324 (21,200) (324) 3,176 - 702 -
Total 17,798 1,962 (73,071) 4,844 22,005 324 (22,005) (324) (7,006) (276) 21,403 -

24.5. Administrative services center

The Simpar Group makes allocations, based on criteria defined in appropriate technical studies regarding shared expenses within the same structure and back office
expenses. The Administrative Service Center (“CSA”) does not charge management fees or apply profitability margins on the services rendered, passing on only the
costs. Infrastructure and administrative structure expenses shared with Simpar totaled R$ 11,187 at March 31, 2022, accounting for 0.57% of Movida's net revenue (R$
4,044 at March 31, 2021 or 0.50% of Movida's net revenue).

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24.6. Management compensation

For the period ended March 31, 2022, the compensation, including payroll charges, paid to key management
personnel was R$ 4,001 (R$ 3,242 at March 31, 2021), in the consolidated. Management does not have post-
retirement benefits or any other long-term benefits, except for the share-based payment plan and restricts
shares, as disclosed in Note 21.3, as follows:

Management 03/31/2022 03/31/2021

Fixed compensation 2,767 2,266

Variable compensation 1,171 939
Benefits 63 37
Total 4,001 3,242

25. INSURANCE COVERAGE

Movida has contracted insurance considered by Management to be sufficient to cover possible risks on its
assets and/or properties of third parties. For the vehicle fleet, for the most part, it self-manages the risk of
accidents in its fleet, having performed a cost benefit study.
Vehicles/equipment Insured
Contracted
Beneficiary Guarantee Risk Location Quantity Type amount Effective period
coverage
Vehicle rental, including
Movida Locação de Civil liability 02/17/2022 to
management and Brazil Total fleet Vehicles 27,000 200
Veículos S.A. insurance 05/18/2022
maintenance
Damage to property, pain Global insurance
Movida Locação de and suffering, theft or companies: 12/31/2012 to
Brazil Property Residential 346 26,400
Veículos S.A. qualified theft and rental explosion, lightning 12/31/2022
coverage. and fire

26. EARNINGS PER SHARE

Basic earnings per share are calculated by dividing the profit (loss) attributable to the owners of Movida by the
weighted average number of common shares issued during the period, less the common shares repurchased
by Movida and held in treasury.

The calculation of basic earnings per share is presented below:

(Loss) profit from operations 03/31/2022 03/31/2021

Numerator:
Profit for the period 258,094 109,481
Denominator:
Weighted average number of outstanding shares 361,314,597 298,256,791
Basic earnings per share - R$ 0.7143 0.3671

The diluted earnings per share are calculated by adjusting the weighted average number of outstanding
common shares, assuming the conversion of all potential common shares for potential dilution.

Movida has a category of common shares which could potentially cause dilution: stock options. For stock
options, a calculation is made to determine the number of shares that would be acquired at fair value
(determined as the average annual market price of the Company’s share), based on the monetary value of the
subscription rights linked to the outstanding stock options. The number of shares calculated as previously
mentioned is compared with the number of shares outstanding, assuming the term of the stock options.

The calculation of diluted earnings per share is presented below:

Profit from operations 03/31/2022 03/31/2021

Numerator:
Profit for the period 258,094 109,481
Denominator:
Weighted average number of outstanding shares 362,138,520 299,669,889
Diluted earnings per share - R$ 0.7127 0.3653

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27. SUPPLEMENTAL INFORMATION TO THE STATEMENT OF CASH FLOWS

The statements of cash flows under the indirect method are prepared and presented in accordance with the
accounting pronouncement CPC 03 (R2)/IAS 7 – “Statement of Cash Flows”.

27.1. Acquisition of property and equipment

Parent company Consolidated
03/31/2022 03/31/2021 03/31/2022 03/31/2021
Total additions to property and equipment (Note 11) 223,758 115,224 1,978,747 922,448
Addition of right-of-use assets (Note 11) (223,489) (115,224) (43,232) (160,981)
Balance variations:
Supplier financing - car manufacturers - - 629,986 248,363
Cash disbursed for acquisition 269 - 2,565,501 1,009,830

Cash for acquisition of property and equipment 269 - 2,533,049 997,344

Cash for acquisition of property and equipment for investment - - 32,452 12,486
Total additions to property and equipment 269 - 2,565,501 1,009,830

27.2. Acquisition and formation of intangible assets

Parent company Consolidated

03/31/2022 03/31/2021 03/31/2022 03/31/2021
Total additions to intangible assets (note 11) 789 - 13,496 19,552
Additions due to capitalization of interest on loans and borrowings (Note 14) - - (453) -
Total additions to intangible assets not affecting cash flow 789 - 13,043 19,552
Cash for acquisition of intangible assets for investment 789 - 13,043 9,393
Goodwill on acquisition of company - - - 10,159
Total additions to intangible assets 789 - 13,043 19,552

28. EVENTS AFTER THE REPORTING PERIOD

a) Issue of Debentures

The subsidiary Movida Locação de Veículos issued on March 22, 2022, the 9th issue of simple, non-convertible
debentures, of a floating guarantee type, in a single series in the total amount of R$ 1,000,000, which was
settled on April 5, 2022, maturing on April 5, 2027, with amortizations carried out from the fourth year onwards,
in two installments (2026 and 2027). Interest correspond to 100% of the accumulated variation of the average
daily rates of the DI – Interbank Deposits, over extra-group, increased exponentially by a surcharge or spread
equivalent to 2.95% p.a., amortized on a half-yearly basis, and financial ratios are calculated based on the
Issuer's consolidated financial statements.

b) Acquisition of Relevant Equity Interest

On April 7, 2022, Movida Participações S.A. (“Movida”) communicates, in compliance with article 12, §6, of
resolution 44, the Brazilian Securities Commission, about the correspondence received on this date by Simpar
S.A., informing that it acquired 3,301,800 common shares issued by the Company, and this acquisition caused
its interest to exceed 65% of the total common shares issued by Movida.

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Independent auditor’s report on the individual and consolidated

quarterly information

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Statement of the Statutory Audit Committee

The Statutory Audit Committee of Movida Participações S.A., pursuant to its obligations
under article 163 of Law 6,404/76, at a meeting held on this date, after examining the
Management Report and the individual and consolidated financial statements for the period
ended March 31, 2022, concludes unanimously, based on the examinations made and also
considering the Independent Auditor’s Report, that these documents reflect fairly the
Company's financial position and results of operations.

São Paulo, April 30, 2022.

________________________
Luciano Douglas Colauto

_________________________
Daniel Vinicius Alberini Schrickte

___________________________
Márcio Álvaro Moreira Caruso

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Statement of the Executive Board on the individual and consolidated

quarterly information
In accordance with item VI of article 25 of CVM Instruction 480 of December 7, 2009, the
Executive Board declares that it has reviewed, discussed and agreed with the individual and
consolidated quarterly information of Movida Participações S.A. for the period ended March
31, 2022, and has authorized its issue on this date.

São Paulo, April 30, 2022.

________________________
Renato Horta Franklin
Chief Executive Officer

_________________________
Edmar Prado Lopes Neto
Chief Financial and Investor Relations Officer

___________________________
João Paulo de Oliveira Lima
Chief Controlling Officer
Accountant – CRC SP259650/O-3

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Statement of the Executive Board on the Independent Auditor’s Report

In accordance with item V of article 25 of CVM Instruction 480 of December 7, 2009, the Executive Board
declares that it has reviewed, discussed and agreed with the conclusions expressed in the Independent
Auditor’s Report on the individual and consolidated quarterly information of Movida Participações S.A. for the
period ended March 31, 2022, issued on this date.

São Paulo, April 30, 2022.

_______________________
Renato Horta Franklin
Chief Executive Officer

_________________________
Edmar Prado Lopes Neto
Chief Financial and Investor Relations Officer

___________________________
João Paulo de Oliveira Lima
Chief Controlling Officer
Accountant - CRC SP259650/O-3

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