Investor Presentaiton

Business Combination Online business taken to another level Cnova Brazil ✓ Pure Player Commercial Strategy ✓ 4 Distribution Centers ✓ 100% Outsourced Logistics ✓ Inactive Marketing Initiatives ✓ Gross Merchandise Value of R$8bn in 2015 N viavarejo Cnova Brazil ✓ Multi-Channel Commercial Strategy ✓ 26 Distribution Centers ✓ 1,300 pick-up points ✓ Proprietary Logistic Model ✓ Multi-channel advertising ✓ Combined Gross Merchandise Value of R$30bn in 2015. 12

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