Slide 1: Investor Presentation Q2'25 Results
INVESTOR PRESENTATION Q2’25 Results August 4, 2025
Slide 2: Second Quarter 2025 Disclaimers
Second Quarter 2025 DISCLAIMERS This presentation may contain forward-looking statements including, but A reconciliation of Non-GAAP measures can be found in our Second not limited to, statements regarding MercadoLibre, Inc.'s expectations, Quarter 2025 earnings press release, available on our inves
Slide 3: MELI Content for Investors
Second Quarter 2025 IR CONTENT MELI Content for Investors PODCAST NEWS ALERTS IR CALENDAR Listen here Subscribe See here MercadoLibre, Inc. I 3
Slide 4: Operational & Financial Highlights
Second Quarter 2025 Operational & Financial Highlights GMV ITEMS SOLD TOTAL TPV CREDIT PORTFOLIO US$15.3BN 550.1MM US$64.6BN US$9.3BN +21% YoY 37% FXN YoY +31% YoY +39% YoY +61% FXN YoY +91% YoY NET REVENUES AND INCOME FROM OPERATIONS NET INCOME ADJUSTED FREE CASH FINANCIAL INCOME FLOW2 US$6.8BN US$
Slide 5: Agenda
Second Quarter 2025 Agenda REVENUE & 1. QUARTERLY KPIs 3. FINANCIAL FACTSHEET 2. FINANCIAL METRICS
Slide 6: Quarterly KPIs
Second Quarter 2025 1. QUARTERLY KPIs
Slide 7: Marketplace Highlights: Unique Active Buyers
Second Quarter 2025 1. Quarterly KPIs Marketplace Highlights Unique Active Buyers (MM) 70.8 >70mn Unique Active Buyers 67.3 66.6 Growth remains strong at 25% YoY - 60.8 the highest since Q1’21 - and broad- 56.6 based across countries. This reflects the continued enhancements to our value proposition
Slide 8: Marketplace Highlights: GMV and Items Sold
Second Quarter 2025 1. Quarterly KPIs Marketplace Highlights Solid GMV and Items Sold growth across the board, with acceleration in Mexico and continued strength in Brazil Gross Merchandise Volume Items Sold (FX-Neutral YoY Growth) (% YoY Growth) Q2'24 Q1'25 Q2'25 Q2'24 Q1'25 Q2'25 252% 126% 52% 46%
Slide 9: Marketplace Highlights: Same & Next Day Shipments
Second Quarter 2025 1. Quarterly KPIs Marketplace Highlights Same & Next Day Shipments (MM) 162.9 147.5 143.4 134.6 Same & Next Day Shipments +28% YoY 127.3 Almost 52% of shipments were delivered within the same & next day, even with an increase in penetration of slow shipments Q2'24 Q3'24 Q4'24 Q1'
Slide 10: Marketplace Highlights: Items Sold per Unique Buyer
Second Quarter 2025 1. Quarterly KPIs Marketplace Highlights Items Sold per Unique Buyer (Units) 7.8 7.8 Items sold per unique buyer +5% YoY Solid growth despite the large increase in new buyers, which dilutes this metric 7.5 7.4 in the short-term 7.4 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 MercadoLibre, Inc.
Slide 11: Fintech Services Highlights: Monthly Active Users
Second Quarter 2025 1. Quarterly KPIs Fintech Services Highlights Fintech Monthly Active Users1 (MM) 67.6 64.3 61.2 MAU growing 30% YoY 56.2 52.0 Engagement with Mercado Pago is growing as our value proposition continues to strengthen; this is the seventh consecutive quarter of growth at or above 30
Slide 12: Fintech Services Highlights: AUM and Credit Portfolio
Second Quarter 2025 1. Quarterly KPIs Fintech Services Highlights AUM and credit portfolio both expand strongly in Q2’25 as engagement with Mercado Pago grows Assets Under Management1 Credit Portfolio (US$ M) (US$ M; % share of total) 3 +109% Consumer Credit Card Merchant Asset-backed 13,796 YoY 9,3
Slide 13: Fintech Services Highlights: Net Interest Margin After Losses
Second Quarter 2025 1. Quarterly KPIs Fintech Services Highlights Net Interest Margin After Losses (% of avg portfolio) 31.1% 27.6% 24.2% Solid NIMAL of 23.0% 22.7% 23.0% Broadly stable QoQ, despite higher credit card mix and moves upmarket Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Net Interest Margin After Los
Slide 14: Fintech Services Highlights: Past Dues and Provision Coverage
Second Quarter 2025 1. Quarterly KPIs Fintech Services Highlights Early NPLs improve QoQ and YoY in all major countries and products due to better asset quality and portfolio mix Past Dues 15-90 & >90 Provision Coverage ( % NPLs / Total Portfolio) (% Allowance of Doubtful Accounts / NPLs) 15-90 days
Slide 15: Acquiring Highlights: Acquiring TPV
Second Quarter 2025 1. Quarterly KPIs Acquiring Highlights Acquiring TPV (US$ BN) Acquiring ON Acquiring OFF 44.4 41.9 40.3 36.0 31% YoY growth in Acquiring TPV 33.7 16.2 15.5 14.2 By delivering a more compelling 13.7 and differentiated value proposition, 13.3 we continue to grow strongly across all
Slide 16: Acquiring Highlights: TPV per Segment and Sellers with Credit
Second Quarter 2025 1. Quarterly KPIs Acquiring Highlights Growth trends remain robust across geographies, with rising cross-sell of Credits Acquiring TPV per Segment Monthly Active Sellers with Credit (FX-Neutral YoY Growth) (% of total) Q2'24 Q1'25 Q2'25 28.4% 329% 26.3% 144% 24.6% 124% 101% 21.8%
Slide 17: Financial Metrics
Second Quarter 2025 2. FINANCIAL METRICS
Slide 18: Commerce Net Revenues
Second Quarter 2025 2. Financial Metrics Financial Metrics Commerce Net Revenues (US$ M, % FXN growth) Commerce services Commerce products sales FX-Neutral YoY Growth 131% 121% 106% 57% 45% Strong Commerce revenue growth 3,839 3,554 3P take rate of 21.3% rose 60bps 3,303 3,139 811 2,970 709 YoY with
Slide 19: Fintech Net Revenues per Quarter
Second Quarter 2025 2. Financial Metrics Financial Metrics Fintech Net Revenues per Quarter (US$ M, %) Financial services and income Credit revenues Fintech products sales YoY FXN Growth 92% 84% 81% 73% 63% Strong Fintech revenue growth 2,951 Take rate broadly flat YoY, with 15 2,505 2,632 gains fro
Slide 20: Income from Operations and Net Income
Second Quarter 2025 2. Financial Metrics Financial Metrics Strong top line drove solid Income from Operations growth; Net Income down on higher FX losses and tax rate Income from Operations and Margin Net Income and Margin (US$ M, % of Net Revenues) (US$ M, % of Net Revenues) 14.3% 13.5% 12.9% 10.5%
Slide 21: Income from Operations Margin
Second Quarter 2025 2. Financial Metrics Income from Operations Margin -210 bps 14.3% 0.7% 0.4% 12.2% (1.0)% (0.8)% (1.3)% (0.1)% 1 EBIT Margin Q2'24 COGS Marketing Expenses & G&A Product Development Bad Debt Other EBIT Margin Q2'25 Sales Expenses 1 Refers to chargeback and buyer protection program
Slide 22: Net Income Margin
Second Quarter 2025 2. Financial Metrics Net Income Margin -280bps 10.5% 0.1% 7.7% (2.1)% (0.1)% (0.7)% Net Income Margin Q2'24 COGS + OPEX Interest income & expense, net Tax Foreign Exchange Net Income Margin Q2'25 MercadoLibre, Inc. I 22
Slide 23: Adjusted Free Cash Flow
Second Quarter 2025 2. Financial Metrics Adjusted Free Cash Flow Q2’25 Adjusted Free Cash Flow (US$ M) Total cash, restricted cash, Total cash,and investments restricted cash, digital assets investments and digital assets... 10,954 7,778 Q1’24 Q1’25 Available cash, investments and B 4,835 3,567 4 di
Slide 24: Available Cash & Leverage
Second Quarter 2025 2. Financial Metrics Available Cash & Leverage Leverage Evolution (US$ M) 1.05x 0.83x 8,979 0.73x 0.69x 0.44x 7,726 Leverage remains low 6,850 3,830 6,324 The QoQ increase in debt - and the 5,403 2,247 2,891 leverage ratio - is primarily a result of 1,287 2,001 additional funding
Slide 25: Revenue & Financial Factsheet
Second Quarter 2025 REVENUE & 3. FINANCIAL FACTSHEET
Slide 26: Net Revenue Breakdown by Products and Services
3. Revenue & Second Quarter 2025 Financial Factsheet Net Revenue Breakdown by Products and Services Q2’251 & Q2’242 Brazil Mexico Argentina Others Total (US$ M) 2Q25 2Q24 2Q25 2Q24 2Q25 2Q24 2Q25 2Q24 2Q25 2Q24 Commerce Services (a) 1,616 1,411 803 686 440 261 169 144 3,028 2,502 Commerce Product Sa
Slide 27: Operational & Financial Factsheet
3. Revenue & Second Quarter 2025 Financial Factsheet Operational & Financial Factsheet Volumes (US$ M, %) Users (MM) Net Revs. per Segment1 (US$ M, %) GMV (FX-Neutral growth) 15,258 37.2% Unique Active Buyers (units) 70.8 25.1% Brazil 3,473 24.7% Items Sold (units) 550 30.6% Fintech Monthly Active U
Slide 28: Investor Relations
Investor Relations investor@mercadolibre.com http://investor.mercadolibre.com MercadoLibre, Inc.