Marisa Lojas S A : 3Q22 Conference Call Presentation

3Q22 HIGHLIGHTS

• SSS for Physical Stores stable; slightly negative on consolidated basis given the sharper drop in Digital sales;
• Significant gain in gross margin (+7.2 pp) even during the traditional "Sale" in July;
• Inventory level in line with the Company's target;
• Operating Expenses pratically stable versus 3Q21;
• Consolidated Adjusted EBITDA - lower dilution of Retail expenses and NPLs impact on Mbank;
• NPS 76.6%, reinforcing consistency in the indicator.

Retail Sales and

SSS

• Impact of longstanding cold temperatures, even after launch of Spring-Summer collection
• Good acceptance of the new collection on higher temperature days
• Physical Stores SSS stable, Digital SSS impacted by strong comparison base
• Lower promotional efforts due to the excellent condition of stocks

TOTAL RETAIL SALES AND

SSS EVOLUTION

Retail Sales (Digital)

• Digital Sales: -43.8% vs. 3Q21 - high comp base of +96.6%
• Greater focus on channel profitability vs. top-line growth
• APP reached 67.3% of Digital sales
• We surpassed 17.5 MM downloads at the end of 3Q22

PARTICIPATION IN DIGITAL SALES (SITE VS APP)

Retail - Gross Margin and Inventories

• Significant margin gain +7.2 pp vs 3Q21 with expansion in all months of the quarter
• Commercial strategy focused on product improvement and inventory management
• Markdowns 21.4% lower than 3Q21
• Average of 19.9 million units in the quarter - in line with our lower inventories target

Gross Margin (%) - Retail

Inventory (in MM units)