Magazine Luiza S A : Notice to the Market - Atypical Fluctuations in the Company's Shares

MAGAZINE LUIZA S.A.

Publicly-held Company

Corporate Taxpayer ID: 47.960.950/0001-21

Company Registry (NIRE): 35.3.0010481.1

NOTICE TO THE MARKET

Magazine Luiza S.A. ("Company" or "Magalu"), in compliance with official letter 1234/2021-SLS, issued by B3 SA. - Brasil, Bolsa, Balcão ("B3"), the leading Brazilian Stock Exchange, on September 10th, 2021 (the "Official Letter"), which is reproduced in relevant part in the paragraph below, hereby seeks to clarify and make public to its shareholders and the market in general, through this notice, facts related to atypical fluctuations in the Company's shares during the period mentioned in the Official Letter.

The relevant portion of the Official Letter reads as follows: "In light of the recent fluctuations seen in the securities issued by your company, the number of trades and the amount traded, as detailed below, we request that you inform us, by 09/13/2021, if there is any fact of your knowledge that can justify these fluctuations."

Common Shares

Prices (R$ per share)

Date	Open	Minimum	Maximum	Average	Last	Change %	Nº Trades	Quantity	Volume (R$)
08/27/2021	18.92	18.76	19.15	18.95	19.03	1.22	47,831	22,854,400	433,016,032.00
08/30/2021	18.94	18.49	19.10	18.85	18.88	-0.78	49,560	22,428,500	422,774,343.00
08/31/2021	18.75	18.14	19.06	18.40	18.24	-3.38	55,446	30,710,300	565,163,966.00
09/01/2021	18.36	18.28	18.86	18.66	18.68	2.41	70,665	22,207,800	414,378,960.00
09/02/2021	18.66	17.86	18.66	18.20	18.01	-3.58	54,476	26,117,200	475,273,104.00
09/03/2021	18.10	17.90	18.90	18.52	18.90	4.94	55,968	46,378,200	859,153,284.00
09/06/2021	18.86	18.77	19.50	19.31	19.48	3.06	35,808	18,344,900	354,245,370.00
09/08/2021	19.25	18.65	19.33	18.85	18.79	-3.54	71,802	36,352,200	685,394,006.00
09/09/2021	18.90	17.96	19.42	18.54	18.85	0.31	62,975	35,169,300	651,912,285.00
09/10/2021*	19.06	17.37	19.12	17.99	17.37	-7.85	102,884	61,296,500	1,102,959,321.00

*Updated until 4:41 pm.

Reiterating its commitment to provide timely information to its shareholders and the market in general, Magalu hereby declares that it is not aware of any relevant act or fact disclosed by the Company that justifies such movements in the stock. The Company believes that the atypical fluctuations can be attributed to news published by the press or by a specialized data consulting firm, which are not directly related to Magalu and/or its long-term fundamentals. Among them are the results of the IBGE's Monthly Survey of Commerce, presented in a report by

Valor Econômico newspaper entitled "Perfect Storm Hits Eletro-electronics", a report by consulting firm YipitData, and news of a capital increase by an Asian company in the sector. It is important to note that such news generally affected stocks throughout the sector.

Magalu continues to grow at an above market rate, maintaining the pattern of the last five years. According to data from the consulting firm Compre & Confie, the Company's market share increased, on average, two percentage points in the months of July and August 2021, compared to the same period last year. This increase took place despite the fact that Magalu has the largest annual comparison base among all of its main competitors; the Company's e-commerce was the fastest-growing in the third quarter of 2020 and the most advanced in market share over the past two years. It is worth mentioning that the market share gain observed in recent months has been driven by Magalu's marketplace, which just reached the historic milestone of 100,000 active sellers.

In addition, in August of 2021, Magalu launched a new stock repurchase program authorizing the Company to repurchase up to 40 million shares, of which 14.4 million have been repurchased in recent weeks.

The Company will keep its shareholders, and the market in general, duly informed under the terms of the applicable legislation.

São Paulo, September 13th, 2021

Roberto Bellissimo Rodrigues

Chief Financial Officer and Director of Investor Relations

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