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Investor Presentaiton

Business Combination A more powerful business combining offline and online platforms له Share's swap viavarejo Equity Value R$1.6bn 21.9% Cnova France viavarejo Cnova Global Ecommerce Brazil Net Debt R$1.1bn EV R$2.7bn + R$16mm cash 100% Cnova Brazil Cnova Agenda September, 12th - Via Varejo General Shareholders Meeting No vote by the controlling shareholder. Reorganization was approved by 94% of the minority shareholders present at the meeting October, 27th - Cnova Global Ecommerce General Shareholders Meeting 11

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