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Mercado Libre Business Overview 2017

Overview The leading e-commerce

platform in Latin America

Mercado Libre hosts the largest online commerce

and payments ecosystem in Latin America. Our

efforts are centered on enabling e-commerce and

digital and mobile payments on behalf of our

customers by delivering a suite of technology

solutions across the complete value chain of

commerce. We are present in 18 countries including:

Argentina, Brazil, Mexico, Colombia, Chile,

Venezuela and Peru. Based on unique visitors and

page views we are market leaders in each of the

major countries were we are present

18

Countries We are the leading technology

company in developing e-commerce

and commercial solutions in Latin

America

2

Mercado Libre is well positioned to

capture a significant market opportunity

635M

Population of Latam

350M

Internet users

200M

Online shoppers

182M

Registered users

Presence in 18 countries in Latin

America; largest online payment

network in the region

“Top of Mind” in e-commerce and traffic

leader

Enhanced Ecosystem. Marketplace,

Payments, SaaS, Shipping

Solid Financials. One of few profitable

e-commerce models in the world;

Strong balance sheet, $550M+ Cash &

Equivalents

Source: Company Source, eMarketer, World Bank 3

Expected continued e-commerce

growth in Latin America

CAGR

19%

(US$B)

Source: eMarketer 2016 4

$ 16.9 $ 19.5 $ 22.1 $ 24.7 $ 27.1 $ 29.7

$ 3.6 $ 5.0

$ 6.9 $ 8.8

$ 10.6 $ 12.4

$ 4.4

$ 5.7

$ 7.2

$ 9.0

$ 11.0

$ 13.3

$ 8.6

$ 10.8

$ 13.6

$ 17.3

$ 20.2

$ 24.4

2014 2015 2016E 2017E 2018E 2019E

Rest of Latam

Mexico

Argentina

Brazil

% of Total Retail (LATAM) 2.3% 2.5% 2.7% 3.0% 3.2% 3.3%

% of Total Retrail (USA) 8.4% 9.2% 10.1% 11.1% 12.3% 13.5%

Mercado Libre History

Mercado Libre

Acquisitions

Overview The leading e-commerce platform in Latin America

$ 299

$ 374

$ 473

$ 557

$ 652

$ 844

$ 158

$ 274

6.2 %

6.5 % 6.5 %

7.9 %

9.1 %

10.5 %

8.8 %

11.7 %

$0

$100

$200

$300

$400

$500

$600

$700

$800

$900

2011 2012 2013 2014 2015 2016 1Q16 1Q17

TR

Net Revenues (US$M) GMV TPV

1Q17 $2.334 (M)

1Q16 $1.781 (M)

1Q17 $2.601 (M)

1Q17 $1.376 (M)

Source: Company information GMV: Gross Merchandise Volume

TPV: Total Payment Volume

7

At the center of the e-commerce revolution Top e-commerce websites by unique visitors in Latam

ARGENTINA

1) MERCADOLIBRE.COM.AR

2) OLX.COM.AR

3) GARBARINO.COM

4) NETSHOES.COM.AR

5) FRAVEGA.COM

6) DAFITI.COM.AR

7) MERCADOPAGO.COM.AR

8) MUSIMUNDO.COM

9) FALABELLA.COM.AR

10) ALAMAULA.COM

BRAZIL

1) MERCADOLIVRE.COM.BR

2) AMERICANAS.COM.BR

3) OLX.COM.BR

4) CASASBAHIA.COM.BR

5) BUSCAPE.COM.BR

6) WALMART.COM.BR

7) NETSHOES.COM.BR

8) EXTRA.COM.BR

9) SUBMARINO.COM.BR

10) PONTOFRIO.COM.BR

MEXICO

1) MERCADOLIBRE.COM.MX

2) SEGUNDAMANO.MX

3) LINIO.COM.MX

4) EBAY.COM

5) ALIEXPRESS.COM

6) VIVANUNCIOS.COM.MX

7) APPLE.COM

8) WALMART.COM.MX

9) AMAZON.COM

10) TROVIT.COM.MX

CHILE

1) MERCADOLIBRE.CL

2) FALABELLA.COM

3) YAPO.CL

4) SODIMAC.CL

5) RIPLEY.CL

6) PARIS.CL

7) ALIEXPRESS.COM

8) LINIO.CL

9) ABCDIN.CL

10) EASY.CL

COLOMBIA

1) MERCADOLIBRE.COM.CO

2) OLX.COM.CO

3) LINIO.COM.CO

4) MITULA.COM.CO

5) AMAZON.COM

6) EXITO.COM

7) TUCARRO.COM.CO

8) FALABELLA.COM.CO

9) TROVIT.COM.CO

10) TIENDEO.COM.CO

VENEZUELA

1) MERCADOLIBRE.COM.VE

2) OLX.COM.VE

3) AMAZON.COM

4) TUCARRO.COM.VE

5) MERCADOLIBRE.COM

6) APPLE.COM

7) QUEBARATO.CO.VE

8) CLASF.CO.VE

9) NEXOLOCAL.COM.VE

10) EBAY.COM

Source: ComScore October 2016 (Desktop only) 8

At the center of the e-commerce revolution Mercado Libre is the 7th e-commerce website in terms of unique visitors

0

50,000

100,000

150,000

200,000

250,000

300,000

350,000

400,000

Retail Worldwide Ranking

Source: ComScore October 2016 (Desktop only) 9

Mercado

Libre

Marketplace The Mercado Libre Marketplace, is a fully-

automated, topically-arranged and user-

friendly online commerce service

This service permits both businesses and

individuals to list general merchandising

items and conduct their sales and purchases

online in either a fixed-price or auction-

based format. Any Internet user in the

countries in which we operate can browse

through the various products that are listed

on our website and register with Mercado

Libre to list, bid for and purchase such

items and services

58% Total Revenues

182 Million Users

13.3 Million Buyers

3.4 Million Sellers

U$S 2.3 Billion GMV

U$S 158.5 Million Core Marketplace Net Revenues

53 Million Sold items

1Q17

10

Mercado

Pago

Payments

Solution MercadoPago complements the Mercado

Libre Marketplace, as an integrated online

payments solution

MercadoPago is designed to facilitate

transactions both on and off the Mercado

Libre Marketplace by providing a mechanism

that allows our users to securely, easily and

promptly send, receive and finance payments

online

MercadoPago is currently available in:

Argentina, Brazil, Mexico, Colombia,

Venezuela, Chile, Uruguay and Peru

15 Million Payers

U$S 2.6 Billion Payment Volume

44 Million Payment Transactions

1Q17

11

Mercado

Envíos

Shipping

Solutions

27.3 Million Items Shipped

Through MercadoEnvíos, Mercado Libre

facilitates the shipping of goods from

sellers to buyers

Through MercadoEnvios, we offer a cost-

efficient integration with existing logistics

and shipping carriers to sellers on our

platform. Sellers opting into the program

are able to offer a uniform and seamlessly

integrated shipping experiences to their

buyers at competitive prices

MercadoEnvios is available in: Argentina,

Brazil, Mexico, Colombia and Chile

Shipping Penetration

Brazil – 70%

Mexico – 56%

Colombia – 41%

Argentina – 30%

Chile – 14%

1Q17

12

Maximizing our user experience

through integrated platform solutions

Deepest product selection in Latam

+

Payments/Financing

+

Shipping solutions

=

Enhanced marketplace

buyers return rate 3x higher

better NPS*

*NPS: Net Promoter Score. 13

Our Business Model

Sellers pay commissions on successful

transactions, equal to a

percentage of value sold (or GMV)

Marketpla

ce

Logistics

solutions

Marketplace

FinTech

services

Advertisement

SaaS

Stores & ERP

Sellers pay commissions on successful

transactions, equal to a percentage of

value sold (or GMV)

Sellers pay for shipping integrated

into their product offerings

Sellers pay set-up and maintenance

fees on storefronts powered by us

Display banners link directly to client websites, charging on a

CPM basis (cost per impression). Clients bid for keywords, paying

on a CPC basis (cost per click)

14

Clearly identified growth drivers…

• Expected e-commerce CAGR of 19% through 2019

• Geographic rollout in 18 LATAM markets Market Growth

• Mobile shift expanding broadband enabled customer base

• Marketplace continues to push towards mobile users Mobile

• Increased adoption of shipping and fulfillment services

• Improved monetization of payments / credit on marketplace

• Grow % volume coming from large

merchants, brands, and branded

retailers

• Focus on UX drives engagement and loyalty

• Ecosystems of apps / data enhance

experience

• Grow new categories still under-indexed in marketplace

Logistics

Merchant Base

User Experience

New Categories

Enhanced

Marketplace

Payments

15

Payments growth driven by marketplace

adoption, new products, and online-to-offline

opportunity

On Marketplace

Adoption

Off Marketplace

Adoption

Online to Offline of

Payments Business

Merchant and

Consumer Credit

Marketplace

Other Financial

Technology Services

and Products

Expandin

g M

ark

et

Opport

unity

Increasingly Off-Marketplace / Off-Line

Drive usage of payment

services across

geographic footprint

Leverage

marketplace scale to

become payment

standard for online

transactions

Leverage online

payments scale and

technology to offer

offline products

through mobile POS

terminals

Leverage low

origination costs and

granular user data to

distribute merchant

and consumer credit

Expand

complementary

product offerings to

create FinTech

platform

2016 TPV of $3.2Bn 78% of Marketplace

GMV through

MercadoPago 2016

20% of 2016 TPV coming

from off-Marketplace

Merchant service offering.

Growing at 100% on an FX

neutral basis in 2016

25% of Brazilian off-

Marketplace

Merchant service

volume already

coming from MPOS

70% of GMV was

purchased on credit

during 2016

By 2020, FinTech will

replace 25% of online

& mobile banking

systems

Relevant

Metric

16

Mercado Libre Financial Overview

Highlights

Succesful Items

1Q16 1Q17 YoY

38.3M 53.2M

Live Listings

182 million users

+38.6%

+58.4%

1Q17

2.3 B GMV

Source: company information

273.9M Revenues (US$) 157.6M +73.8%

53.6M 84.9M

18

GMV (US$M)

Core Marketplace Metrics

$ 5,704

$ 7,305 $ 7,082 $ 7,151

$ 8,048

$ 1,781

$ 2,334

2012 2013 2014 2015 2016 1Q16 1Q17Source: company information

31%

YoY

19

67

83

101

128

181

38

53



Items Sold (M)

39%

YoY

20



14 18

23

37

65

54

85

2012 2013 2014 2015 2016 1Q16 1Q17

Live Listings (M)

58%

YoY

21

$ 1,787

$ 2,498

$ 3,525

$ 5,187

$ 7,754

$ 1,376

$ 2,601

2012 2013 2014 2015 2016 1Q16 1Q17

TPV (US$M)

Payments Metrics


89%

YoY

22

23

32

46

80

139

28

44

2012 2013 2014 2015 2016 1Q16 1Q17

TPN (M) – Transactions


Payments Metrics

60%

YoY

23

Net Revenues (US$ M)

Financial Metrics

$ 374

$ 473

$ 557

$ 652

$ 844

$ 158

$ 274


74%

YoY

24

Financial Metrics


56.0%

58.0%

60.0%

62.0%

64.0%

66.0%

68.0%

70.0%

72.0%

4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17

Gross Profit $ 114 $ 103 $ 104 $ 112 $ 118 $ 102 $ 126 $ 146 $ 163 $ 169

Margin % 70.5% 69.8% 67.4% 66.3% 65.1% 64.8% 63.3% 63.1% 63.6% 61.6%

$ -

$ 20

$ 40

$ 60

$ 80

$ 100

$ 120

$ 140

$ 160

$ 180

Gross Profit (US$ M)

25

Financial Metrics


0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17

EBIT 25.6 34.6 45.3 33.7 30.5 32.2 53.7 64.7 63.3

Margin % 17.3% 22.4% 26.8% 18.6% 19.3% 16.1% 23.3% 25.2% 23.1%

-

10.0

20.0

30.0

40.0

50.0

60.0

70.0

EBIT (US$ M)

26


-

10.0

20.0

30.0

40.0

50.0

60.0

70.0

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17

NI U$ Million 1.7 19.5 45.6 39.0 30.2 15.9 38.9 51.3 48.5

EPS 0.04 0.44 1.03 0.87 0.68 0.36 0.88 1.16 1.10

Net Income & EPS

27

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