MercadoLibre was founded in 1999 to build an online marketplace in Latin America. It has since expanded to become the leading internet ecosystem in the region. It operates transactional marketplaces, payments processing services, online advertising, and web stores across most countries in Latin America. MercadoLibre has experienced strong growth, with over 50 million registered users, $3.4 billion in gross merchandise volume in 2010, and robust financial performance. It aims to continue growing by expanding into new categories and services both on and off its platform.

1. MercadoLibre: the leading e-commerce ecosystem in Latin America S T R I C T L Y P R I V A T E A N D C O N F I D E N T I A L

3. Spring of 1999: drove visiting venture capitalist John Muse back to the airport, and pitched idea along the way.

4. June 1999: MercadoLibreis founded.

6. Finding the right people : GSB provides the network

7. Quickly evolving competition

8. De Remate going head to head with MercadoLibre in 3 markets.

9. Local players such as Lokau in Brazil quickly expanding.

10. Imminent entrance of U.S.-based Yahoo! and eBay?M E R C A D O L I B R E : T H E L E A D I N G I N T E R N E T E C O S Y S T E M I N L A T A M 1

11. What has happened since MercadoLibre’s history Acquired Tucarro.com and Tuinmueble.com Acquired the operations of DeRemate that it didn’t own Expandedbusiness model Acquired Lokau 2005 1999 2000 2001 2002 2004 2006 2003 2007 2008 2009 M E R C A D O L I B R E : T H E L E A D I N G I N T E R N E T E C O S Y S T E M I N L A T A M Break even. AcquiredDeRemate subs Launched 227% netrevenues growth—regional leadership eBay acquired19.5% of MLfor iBazar Brazil IPOUS$333mm Launched search advertising and web stores Source: Company 2

12. Population, 2011E Latin America has one of the best combinations of actual GDP and population size with expected growth rates GDP and Population GDP and Population China GDP CAGR 2009-2012 Central and Eastern Europe Source: IMF. Figures in table are 2011 estimates Asia ex Japan and China Middle East and Africa Latin America M E R C A D O L I B R E : T H E L E A D I N G I N T E R N E T E C O S Y S T E M I N L A T A M US Western Europe Japan Source: IDM 3

13. Latin America is expected to post the highest internet users growth due to improving infrastructure and low penetration base Selected infrastructure statistics by region (sorted by internet users growth rates) Source: EIU databases, al numbers in millions, CAGR for estimates 2009-2012 Global broadband penetration per inhabitant %, 2009 Global internet penetration per inhabitant %, 2009 M E R C A D O L I B R E : T H E L E A D I N G I N T E R N E T E C O S Y S T E M I N L A T A M Source: ITU, ICT Statistics Source: ITU, ICT Statistics 4

14. Asia Pacific ex-Japan …outpacing all other regions… US E-commerce growth Current internet buyers, 2009E Retail e-commerce volume CAGR 2009-2012 LatinAmerica Central and EasternEurope Asia Pacific ex Japan WesternEurope M E R C A D O L I B R E : T H E L E A D I N G I N T E R N E T E C O S Y S T E M I N L A T A M USA Japan Source: IDM. Figures in table are 2009 estimates 5

16. GDP covered: US$ 4,179bn1

17. Total retail market: US$477bn2

18. Total ecommerce retail market: US$16.3bn2

20. Internet Penetration: 36%

21. Broadband subscriptions: 32 million

23. 1.7bn pages viewed per month on average4

24. 11th largest global retail site, 1st Retail in LatAm

25. #1 Retail site in each of the markets

26. ~50mm search page views /weekday Uruguay Argentina 1ITU for countries where MercadoLibre has operations, as of 2009 2IDC, for all Latin American countries, 2009 estimates ³Comscore, November 2010 4Comscore, One year average (Nov. 2009 – Nov. 2010) 6

27. MercadoLibre’s is the most visited e-commerce site in Latin America and #11 globally… Global–Retail web sites audience Latam–Retail web sites audience M E R C A D O L I B R E : T H E L E A D I N G I N T E R N E T E C O S Y S T E M I N L A T A M Brazil–Retail web sites audience Source: ComScore. All figures Q4’10 except global retail Q1’10 7

28. … and one of the top internet destinations in the region Latam–total internet audience Source: ComScore Brazil–total internet audience M E R C A D O L I B R E : T H E L E A D I N G I N T E R N E T E C O S Y S T E M I N L A T A M Source: ComScore. All figures Q4’10. 8

30. Classifieds marketplace

35. Classifieds / Listing

37. US$3.4bn GMV (41% 5-yr CAGR) during 2010

39. 75% new items

41. Most affordable prices

43. Move towards more back-ended pricing

44. Focus on continuously improving buyer experience10

45. MercadoLibre’s key metrics –Marketplace GMVe (US$mm) Successful items sold (mm) CAGR 2002 – 2020: 52.1% CAGR 2002 – 2010: 67,4% New Paid Listings (mm) Registered Users (mm) M E R C A D O L I B R E : T H E L E A D I N G I N T E R N E T E C O S Y S T E M I N L A T A M CAGR 2002 – 2010: 33.6% CAGR 2003 – 2010: 44,6% Source: company filings 11

48. 6.7mm payments processed during 2010

50. 55% financed payments

52. Fluidity of user experience / ease of integration

54. Merchant services: enable third party payments (off platform)

55. Expand consumer credit offering12

56. MercadoLibre’s key metrics –Payments Number of payment transactions (mm) TPV (US$bn) Number of transactions/successful items sold Average ticket paid with MP2US$ # transactions (mm) TPV (US$bn) CAGR 2005-2010: 78.5% CAGR 2005-2010: 82.4% 2TPV/Number of transactions MercadoPago penetration (TPV/GMVe) Adoption3 M E R C A D O L I B R E : T H E L E A D I N G I N T E R N E T E C O S Y S T E M I N L A T A M 3 Share of Live Listing at the end of the period in MP countries Source: Company filings 13

58. Offers buyers access to inventory from branded retailers that complement listings on platform

59. Offers advertisers >32mm unique monthly visitors and their purchase intent

60. Marks a focus on search advertising over display while capturing share of wallet of large retailers

61. Starting from a small base showing very rapid growth: > 11,000 advertisers / month, 19% QoQ

62. 713mm Ads / month, 11% QoQ

63. >30mm ad impressions / quarter, 13% QoQ

65. MercadoShops has fixed pricing per monthly usage that gets credited back in marketplace fees

66. Monetization mainly through MercadoPago

67. Deeply integrated with MercadoPago, Marketplace and MercadoClics

68. Low cost SaaSweb-stores: average cost of premium shop USD30/month

69. Over 5,000 active shops already after official launch in H2’10M E R C A D O L I B R E : T H E L E A D I N G I N T E R N E T E C O S Y S T E M I N L A T A M 14

70. Robust Financial Performance Gross Profit Net Revenues Margin Gross Profit (US$mm) Margin EBITDA (US$mm) Net Revenues (US$mm) CAGR 2005-2010: 50.4% CAGR 2005-2010: 50.3% CAGR 2005-2010: 101.6% EBITDA Net income M E R C A D O L I B R E : T H E L E A D I N G I N T E R N E T E C O S Y S T E M I N L A T A M Net income (US$mm) Margin CAGR 2005-2010: 88.5% Source: Company filings 15