BUSINESS TO WORLDCOMPANHIA GLOBAL DO VAREJO

4Q09 Results Conference Call4Q09 Results Conference CallMarch 12th, 2009 (Friday)

Time: 1:00 p.m. (Brazil) 11:00 a.m. (US EST)

Phone: +1 (786) 924.6977

Code: B2W

Replay: until March 18th, 2009Access: +55 (11) 4688.6312 Code: 46200

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Forward-looking statements

This presentation contains forward-looking statements relating to the prospects of the business, estimates for operating and financial results, and those related to growth prospects of B2W. These are merely projections and, as such, are based exclusively on the expectations of B2W’s management concerning the future of the business and its continued access to capital to fund the Company’s business plan. Such forward-looking statements depend, substantially, on changes in market conditions, government regulations, competitors’ pressures, the performance of the Brazilian economy and the industry, among other factors and risks disclosed in B2W’s filed disclosure documents and are, therefore, subject to change without prior notice.

The financial statements were prepared and are presented in accordance with the norms issued by the Securities Exchange Commission (known locally as CVM), as well as the Novo Mercado listing rules. Except when otherwise specified, the analyses refer to consolidated results, considering adjustments promoted by Law 11,638/07.

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Highlights of 4Q09 and 2009

Gross Revenue (GR): +16% in 4Q09 and +14% in 2009

Net Revenue (NR): +31% in 4Q09 and +22% in 2009

EBITDA: +49% in 4Q09 and +20% in 2009

EBITDA Margin over GR: +2.6 p.p in 4Q09 and +0.5 in 2009

Net Income: R$14 million in 4Q09 and 48 million in 2009

Cash Conversion Cycle : 1-day improvement in 4Q09

Compra com 1-Click in Submarino (“One Click Shopping”): launched in jan/10

International Expansion: online ticket sales expansion to every Cinemark cinema in Mexico (more than 30 places).

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4,478

5,107

2008 2009

1,296

1,506

4Q08 4Q09

Gross Revenue (R$ millions)

Gross Revenue: +16% in 4Q09 and +14% in 2009

+16% +14%

2010: Market Research in preparation

Range of growth for e-commerce between 15% and 35%

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3,117 3,793

2008 2009

877 1,145

4Q08 4Q09

Net Revenue (R$ millions)

Net Revenue: +31% in 4Q09 and +22% in 2009

+31%

+22%

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R$ MM % NR R$ MM % NR % Δ p.p.Gross Revenue 1,505.6 131.5% 1,295.6 147.7% 16% -16.2 p.p.

Net Revenue 1,144.9 100.0% 877.3 100.0% 31% -

Gross Profit 315.3 27.5% 252.5 28.8% 25% -1.3 p.p.

EBITDA 174.0 15.2% 117.1 13.3% 49% 1.9 p.p.

R$ MM % GR R$ MM % GR % Δ p.p.Gross Revenue 1,505.6 100.0% 1,295.6 100.0% 16% -

Net Revenue 1,144.9 76.0% 877.3 67.7% 31% 8.3 p.p.

Gross Profit 315.3 20.9% 252.5 19.5% 25% 1.4 p.p.

EBITDA 174.0 11.6% 117.1 9.0% 49% 2.6 p.p.

Variation

Variation

4Q08Restatement

OVER GROSS REVENUE

4Q09 4Q08Restatement

OVER NET REVENUE

4Q09

Tax ChangeFor comparison purposes, the margins usually calculated as a percentage

of the Net Revenue should be calculated as a percentage of the Gross Revenue.

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117

174

4Q08 4Q09

407 489

2008 2009

EBITDA (R$ millions and % of Net Revenue)

EBITDA: +49% in 4Q09 and +20% in 2009

EBITDA Margin over GR: +2.6 p.p in 4Q09 and +0.5 in 2009

+20%

+49%

97 94

81

70

96

4Q093Q092Q091Q094Q08

Suppliers

65

61 59

54 54

4Q093Q092Q091Q094Q08

Inventories

101

105

100 98

112

4Q093Q092Q091Q094Q08

Account Receivables

697278

82

70

4Q093Q092Q091Q094Q08

Cash Conversion Cycle

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Cash Conversion Cycle - Parent Company

+1 day+11 days

-11 days

-1 days

99

COMPRA COM 1-CLICK (“ONE CLICK SHOPPING”)

Choose a deliverylocation

Choose a cardNow just click

You register just one time

Multiple adresses

Various payment forms

Total freedom

A lot of products with just 1-Click

Following the path of innovation, the Submarine lauched in January 2010 another great innovation, the service Compra com 1-Click (“One Click Shopping”).

This is a pioneering action of the brand in Brazil, which aims to facilitate and streamline the buying process online, improvingthe consumer experience.

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Submarino Card

Submarino Card: The participation of the card into Submarino website has increased

gradually and reached an average of 26% stake in the 4Q09 salesMastercard customer base, driving strong growth in the number of

active cards

Growth of 68% in the amount of tickets sold in Brazil in 2009Expansion the sale of tickets online for the entire network

Cinemark Mexico in 2010 (more than 30 cinema ) We began exploring new countries in Latin America

New Submarino Viagens website, with new look and innovativefeatures

High rates of growth, and better margins compared to ParentCompany

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Priorities for Next QuartersBalance among growth of sales, operational margin and working capital

Scale Gain reducing operating expenses

Finalization of Operational and Technological integration of thebrands

CAPEX in 2010 between R$200MM e R$250MM

Increased active customer base, frequency of purchases and sales conversion

Improvement of our subsidiaries operation

Technology upgrade and innovation to all our business units

Continuous staff training.

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4Q09 Results Conference Call

B2W Investor Relations Teamhttp://www.b2winc.comri@b2winc.comPhone: +55 (21) 2206.6000

BUSINESS TO WORLDCOMPANHIA GLOBAL DO VAREJO