MercadoLibre : Q1'23 Earnings Presentation

Investor Presentation

First Quarter 2023 Results

May 3rd, 2023

This presentation may contain forward-looking statements relating to such matters as continued growth prospects for the Company, industry trends and product and technology initiatives.

These statements are based on currently available information and our current assumptions, expectations and projections about future events. While we believe that our assumptions, expectations and projections are reasonable in view of currently available information, you are cautioned not to place undue reliance on these forward- looking statements.

A reconciliation of Non-GAAP measures can be found in our First Quarter 2023 earnings press release, available on our investor relations website, and in the section entitled "Non-GAAP Measures of Financial Performance" of our quarterly report on Form 10-Q for the quarter ended March 31st, 2023.

All the information included in this presentation is updated as of March 31st, 2023. Except as may be required by applicable law, we assume no obligation to publicly update or revise our statements.

Certain monetary amounts included elsewhere in this document have been subject to rounding adjustments. Accordingly, figures shown as totals in certain tables may not be the arithmetic aggregation of the figures that precede them.

Our actual results may differ materially from those included in this conference call, for a variety of reasons, including those described in the forward-looking statements and risk factor sections of our annual report on Form 10-K for the year ended December 31st, 2022, and any of MercadoLibre Inc.'s other applicable filings with the Securities and Exchange Commission, which are available on our investor relations website (http://investor.mercadolibre.com).

First Quarter 2023

Operational & Financial Highlights

US$9.4BN		US$37.0BN	US$27.0BN
			US$3.0BN
+43% FXN1 YoY		+96.1% FXN1 YoY	+120.8% FXN1 YoY			+58.4% FXN1 YoY
GMV		TPV		TPV OFF MARKETPLACE			NET REVENUES

309.0MM	93.4%		US$3.0BN
		US$340MM
+16% YoY		+295bps YoY	+26% YoY			11.2% Margin
ITEMS SOLD		MANAGED NETWORK2		CREDIT PORTFOLIO		INCOME FROM OPERATIONS

1 FX-Neutral basis (Please see shareholder letter for reconciliation to nearest GAAP measure); 2 Percentage of successful items shipped on Managed Logistics Network	3

First Quarter 2023

Key Messages

• We had a successful start to 2023, with strong momentum across the business. We surpassed the mark of 100mn unique active usersin our ecosystem for the first time ever and delivered record EBIT for a first quarter of $340mnon strong revenue of $3.0bn.
• Our first quarter EBIT margin of 11.2%increased substantially year-on-year, with higher net shipping and advertising revenues and cost leverage on several COGS and operating expense lines driving the margin expansion.
• Gross Merchandise Volumeof $9.4bn grew at a faster FX-neutral pace of 43% year-on-year, with all three major geographies (Argentina, Brazil and Mexico) delivering stronger trends in items sold and unique buyers than the prior quarter. Market share gains in Brazil strengthened on the back of FX- neutral GMV growth of 28% year-on-year.
• Our delivery times continue to be the fastest across the region, helped by Mercado Envios reaching a new record of fulfillment penetration of 44%.
• Our Fintechbusiness continues to show strong momentum with Total Payment Volumereaching $37.0bn; off-platform TPV grew above 100% on a FX- neutral basis for the sixth consecutive quarter.
• Mercado Crédito'sportfolio grew marginally to $3.0bn as we continued to take a cautious approach to originations. In Q1'23, our credit business delivered an annualized IMAL* spread of 39%, with our <90-day NPL falling sequentially to 9.5%, down significantly from 13.4% in Q1'22.

*Interest Margins After Losses (IMAL) = Credit revenues (APRs + late fees) net of provision for doubtful accounts	4

First Quarter 2023

Agenda

1● Quarterly Highlights

2● Financial Metrics

3● Margins

4● Appendix