Slide 1: 2Q26 Results Presentation
2Q26 Results Presentation AUGUST 6, 2026
Slide 2: We generated R$ 21.3M in cash in 2Q26, with record revenue
We generated R$ 21.3M in cash in 2Q26, with record revenue and 74% growth in LTM EBITDA Consolidated Net Revenue R$ 115.7M Adjusted EBITDA¹ Cash generation +18% vs. 2Q25 R$ 17.3M +R$ 21.3M Shopping Brazil +38% vs. 2Q25 In 2Q26 +32% vs. 2Q25 Margin of 15.0% (+2.2p.p.) Record for a 2nd quarter Net Rev
Slide 3: In 2026, we take the next step
In 2026, we take the next step Growth Growth in in top-line, Maintaining revenue with a a healthy per user Growth in focus on margin (ARPU) Bitcoin per Shopping share Méliuz | 2Q26 Results Presentation AI First 3
Slide 4: In 2026, we take the next step
In 2026, we take the next step Growth Growth in in top-line, Maintaining revenue with a a healthy per user Growth in focus on margin (ARPU) Bitcoin per Shopping share Méliuz | 2Q26 Results Presentation AI First 4
Slide 5: For years, we have been adding increasingly larger cohorts of users
xxx For 3 years, we have been adding increasingly larger cohorts of users to our business Total accounts New e-commerce buyers (# million) (base 100) Méliuz | 2Q26 Results Presentation 5
Slide 6: We remain a long-term customer retention machine
xxx At the same time, we remain a long-term customer retention machine Revenue Retention by Cohort (# million) +219% Méliuz | 2Q26 Results Presentation Revenue retention from the cohort acquired 10 years ago3 6
Slide 7: Steady growth: close to R$ 500 million in Net Revenue
xxx The result is our steady growth: we are close to reaching R$ 500 million in Net Revenue, +26% in the LTM Consolidated Net Revenue (R$ million) +44% Shopping Revenue LTM2Q26 vs LTM2Q25 -25% Financial Services Méliuz | 2Q26 Results Presentation Revenue LTM2Q26 vs LTM2Q25 -5% Other companies LTM2Q2
Slide 8: Core business growing fast, driven by beyond e-commerce
xxx The core business continues growing fast, driven by the 114% YoY growth in beyond e-commerce Net Revenue Shopping Brazil Shopping Brazil Revenue Growth YoY (R$ million) (R$ million) +19% E-commerce Growth 2Q26 YoY +114% Beyond E-commerce Growth 2Q26 YoY Méliuz | 2Q26 Results Presentation 21% Bey
Slide 9: E-commerce shows consistent growth and maintains Take Rate
xxx E-commerce continues to show consistent growth and maintains Take and Net Take levels: +26% YoY in LTM Revenue E-commerce Revenue and Take Rate GMV and Net Take Rate (R$ million | %) (R$ billion | %) Méliuz | 2Q26 Results Presentation 9
Slide 10: Beyond E-commerce and E-commerce are complementary and synergistic
Beyond xxx E-commerce and E-commerce are complementary and synergistic Beyond Multi-product High Cross E-commerce user Platform Usage Frequency Cross E-commerce Low Méliuz | 2Q26 Results Presentation only Low High LTV per user 10
Slide 11: We leveraged these synergies across verticals
In xxx2Q26, we successfully leveraged these synergies across verticals Cross-Sell Index Across Verticals (base 100) Beyond Multi-product High Cross E-commerce user Platform Usage Frequency Cross E-commerce Méliuz | 2Q26 Results Presentation Low only Low High +80M recommendations LTV per user month,
Slide 12: In 2026, we take the next step
In 2026, we take the next step Growth Growth in in top-line, Maintaining revenue with a a healthy per user Growth in focus on margin (ARPU) Bitcoin per Shopping share Méliuz | 2Q26 Results Presentation AI First 12
Slide 13: In twelve months, we grew ARPU by 37% in e-commerce and 78% beyond
xxx In just twelve months, we grew ARPU by 37% in e-commerce and 78% in beyond e-commerce LTM Revenue per Active User (base 100) E-commerce Beyond E-commerce Méliuz | 2Q26 Results Presentation 1 LTM revenue per active user: revenue attributed to users over the last 12 months divided by the number of
Slide 14: In 2026, we take the next step
In 2026, we take the next step Growth Growth in in top-line, Maintaining revenue with a a healthy per user Growth in focus on margin (ARPU) Bitcoin per Shopping share Méliuz | 2Q26 Results Presentation AI First 14
Slide 15: Expenses remain at their lowest level in history
Net Revenue R$ million Expenses remain at their lowest level in history, even as Méliuz grows faster % of net revenue Méliuz | 2Q26 Results Presentation 15
Slide 16: Our cashback rates remain healthy and in line with historical performance
xxx Our cashback rates remain healthy and in line with historical performance Cashback Shopping as % of Shopping Brazil Net Revenue Méliuz | 2Q26 Results Presentation 16
Slide 17: Adjusted EBITDA up 38% YoY, margin of 22.1% in LTM2Q26
xxx We improved our Adjusted EBITDA by +38% YoY and reached an Adjusted EBITDA margin of 22.1% in LTM2Q26 Consolidated Adjusted EBITDA¹ (R$ million) Méliuz | 2Q26 Results Presentation 1 Adjusted EBITDA excluding the Bitcoin impairment. 17
Slide 18: 5th consecutive quarter of LTM EBITDA margin growth
xxx We reached the 5th consecutive quarter of LTM EBITDA margin growth Consolidated Adjusted EBITDA¹ (R$ million) +5 p.p. Adjusted EBITDA margin for 2Q26 LTM vs. 2Q25 LTM Méliuz | 2Q26 Results Presentation ~2x Adjusted EBITDA Margin: 2Q26 LTM vs. 2Q24 LTM 1 Adjusted EBITDA excluding the Bitcoin impa
Slide 19: EBITDA converted into cash: R$21.3 million in 2Q26
xxx EBITDA converted into cash: We generated R$21.3 million in cash in 2Q26 Cash Flow Bridge in 2Q26 (R$ million) Méliuz | 2Q26 Results Presentation 19
Slide 20: In 2026, we take the next step
In 2026, we take the next step Growth Growth in in top-line, Maintaining revenue with a a healthy per user Growth in focus on margin (ARPU) Bitcoin per Shopping share Méliuz | 2Q26 Results Presentation AI First 20
Slide 21: We continue to accelerate AI adoption across the whole company
We continue to accelerate AI adoption across the whole company Engineering Development & Product +90% of code written by AI AI Base Infrastructure Analytics as a support Database Integration and tool Analytics Skills Méliuz | 2Q26 Results Presentation Simple Automations Business & • Content creation
Slide 22: We continue to accelerate AI adoption across the whole company
We continue to accelerate AI adoption across the whole company End-to-End Flow Engineering Development & Product From PRD to integrated +90% of code written by AI testing Real-Time Insights AI Base Infrastructure • Performance alerts Analytics as a support Database Integration and • A/B testing anal
Slide 23: We continue to accelerate AI adoption across the whole company
We continue to accelerate AI adoption across the whole company End-to-End Flow Engineering Development 24/7 Product From PRD to integrated & Product +90% of code written by AI Development testing Real-Time Insights AI Base Infrastructure • Performance alerts Autonomous and Analytics as a support Dat
Slide 24: AI is not a goal: it is the means behind every result
AI is not a goal: it is the means behind every result we generate Annual revenue PR/Dev 1 per employee 2 (%) (R$ million) Méliuz | 2Q26 Results Presentation 1 PR/Devs: ratio between the number of pull requests in the period and the average number of developers over the same interval, excluding code-
Slide 25: In 2026, we take the next step
In 2026, we take the next step Growth Growth in in top-line, Maintaining revenue with a a healthy per user Growth in focus on margin (ARPU) Bitcoin per Shopping share Méliuz | 2Q26 Results Presentation AI First 25
Slide 26: Buyback program generated an 8.5% increase in shareholder ownership
The buyback program allowed us to capture the market asymmetry and generate an 8.5% increase in ownership for our shareholders Material Fact - Results, next 12 months2 +9.1M shares repurchased Oct 8, 20251 (R$ million) 100% funded from operating cash flow (R$ million) -8.1% reduction in outstanding s
Slide 27: We believe the Company remains undervalued relative to its peers
We believe the Company remains undervalued relative to its peers Market Cap Cash available Buyback BTC NAV Adjusted Enterprise Value¹ R$ 509.5 M R$ 75.5 M R$ 37.2 M R$ 199.3 M R$ 197.5 M - - - = Adjusted EBITDA R$ 109.6M +74% YoY Méliuz | 2Q26 Results Presentation EV/EBITDA² 1.80x 10.58x 72.65x 6.72
Slide 28: 7th highest growth in the Ibovespa, lowest EV/Net Income multiple
We are the 7th company with the highest growth in the Ibovespa, yet we trade at the lowest EV/Net Income multiple Méliuz | 2Q26 Results Presentation Méliuz IR internal analysis. Considers Méliuz's LTM2Q26 Net Income excluding the Bitcoin impact. Méliuz's EV was calculated based on the market cap as
Slide 29: We approved a new buyback program
We approved a new buyback program to continue generating value for our shareholders Current scenario Strong operating performance R$109.6M Consistent results over the last quarters LTM Adjusted EBITDA1, +74% YoY New buyback program Cash generation R$ 45.3M 100% generated by operations Cash generated
Slide 30: New capital allocation structure: efficient, flexible and integrated
To execute the buyback plan, we approved a new capital allocation structure: more efficient, flexible and integrated Treasury Strategy Objective Cash generation from the Core Bitcoin in treasury Business BTC Yield and Integrated assessment and management of the Company's net cash value generation for
Slide 31: We will be the largest Loyalty program in Brazil!
We will be FOR USERS ● Throughout the entire purchase journey the largest ● With the best experience ● Being a remembered and loved brand Loyalty FOR PARTNERS ● Best ROI among Marketing channels program ● Greater sales generation capacity FOR INVESTORS Méliuz | 2Q26 Results Presentation in Brazil! ●
Slide 32: ri.meliuz.com.br
ri.meliuz.com.br ri@meliuz.com.br