Meliuz Sa · BMFBOVESPA:CASH3

Meliuz Sa — Q3 2025 Earnings Presentation

24 slides from Meliuz Sa's earnings presentation, Nov 6, 2025

  1. Slide 1: Earnings Presentation

    Earnings Presentation NOVEMBER 6, 2025

  2. Slide 2: We tripled EBITDA, reaching R$ 94.7 million in LTM3T25, and grew net revenue by 37%

    We tripled EBITDA, reaching R$ 94.7 million in LTM3T25, and grew net revenue by 37% year-on-year Financial highlights: R$ 123.7MM +37% R$ 14.2MM +61% R$ 94.7MM +25% 3Q25 consolidated vs. 3Q24 3Q25 Net Income vs. 3Q24 LTM3Q25 EBITDA vs. LTM2Q25 Net Revenue R$ 26.5MM +258% 21.4% +13 p.p. 63% vs. 3Q24

  3. Slide 3: Agenda

    | AGENDA Topline & Growth Bottom Line & Operating Efficiency Cash generation and Bitcoin strategy

  4. Slide 4: Agenda: Topline & Growth

    | AGENDA Topline & Growth Bottom Line & Operating Efficiency Cash generation and Bitcoin strategy

  5. Slide 5: Among the most downloaded apps in Brazil, with CAC well below average

    We are among the 20 most downloaded apps in Brazil, with a CAC (Customer Acquisition Cost) well below the average of other shopping players Play Store Ranking Shopping Category R$ 1.9MM Marketing investments per month Category Brazil Resultados 3T25 Presentation 4,8 ⭐ Earningsde 191K reviews Apresen

  6. Slide 6: Record registrations with increasingly active users

    Even with reduced budget, we achieved record registrations, with increasingly active users Accounts Added Total accounts Active Users Millions of accounts Millions of accounts +1.0MM Accounts opened in a single month Resultados 3T25 (October) Apresentação Méliuz | 3Q25 Presentation Earningsde 6

  7. Slide 7: User acquisition and activation will drive revenue growth; GMV cohorts

    User acquisition GMV cohorts R$ billion and activation will drive revenue growth in the medium to long term , thanks to the strong retention of our cohorts Resultados 3T25 Presentation +96% Earningsde Apresentação Retention Méliuz | 3Q25 of GMV in 5 years¹ ¹ Referring to the 2019 cohort. 7

  8. Slide 8: We grew Shopping Brasil by 63% year-on-year

    We grew Shopping Brasil by 63% year-on-year, with consistent growth acceleration in all quarters of 2025 Net revenue Shopping Brazil R$ million Earningsde Apresentação Méliuz | 3Q25 Resultados 3T25 Presentation 8

  9. Slide 9: 63% shopping growth: 40% e-commerce, 172% other shopping businesses

    The 63% growth in shopping is the result of a 40% growth in e-commerce, along with 172% growth in other shopping businesses. Net revenue Net revenue Net revenue shopping Brazil E-commerce other verticals shopping R$ million R$ million R$ million = Earningsde Apresentação Méliuz | 3Q25 Resultados 3T2

  10. Slide 10: Méliuz Prime, Ads and for Brands accounted for about 25% of shopping revenue

    Together, these initiatives accounted for approximately 25% of net revenue from shopping in 3Q25. Méliuz Prime Méliuz Ads Méliuz for Brands Earningsde Apresentação Resultados 3T25 Presentation +390% Méliuz | 3Q25 Active user base growth 3Q25 vs. 3Q24 10

  11. Slide 11: New opportunities for monetizing the base and making partners profitable

    We focus on developing new opportunities for monetizing the base and making partners profitable Product Focus Individual levers Méliuz Ads B2B Larger inventory and AI for hyper-personalization Méliuz Prime B2B B2C Increase in subscribers' share of wallet Méliuz for Brands Resultados 3T25 B2B B2C Grow

  12. Slide 12: Shopping Brazil drove 37% net revenue growth despite Financial Services drop

    Shopping Brazil drove Méliuz's 37% growth in net revenue, despite a 40% drop in Financial Services revenue. Net revenue Net revenue Net revenue Total net revenue R$ million shopping Brazil financial services other companies R$ million R$ million R$ million = Earningsde Apresentação Méliuz | 3Q25 Resu

  13. Slide 13: Consistently accelerating our growth in total net revenue

    Total net revenue R$ million We are consistently R$ 62M accelerating Revenue addition 9M25 our growth R$ 34M Revenue addition 9M24 Resultados 3T25 Presentation 80% Earningsde Apresentação growth in added Méliuz | 3Q25 revenue 9M25 13

  14. Slide 14: Agenda: Bottom Line & Operating Efficiency

    | AGENDA Topline & Growth Bottom Line & Operating Efficiency Cash generation and Bitcoin strategy

  15. Slide 15: We continue to aggressively optimize costs

    Fixed costs We continue R$ million to aggressively optimize costs Resultados 3T25 Presentation -23pp. Earningsde Apresentação of net revenue Méliuz | 3Q25 representation 15

  16. Slide 16: An extremely efficient and healthy business

    Net revenue R$ million Today we have an extremely efficient and % of healthy business net revenue Earningsde Apresentação Méliuz | 3Q25 Resultados 3T25 Presentation 16

  17. Slide 17: Consolidated EBITDA grew 258% quarter on quarter

    We grew consolidated EBITDA by 258% in the quarterly comparison. EBITDA R$ million Earningsde Apresentação Méliuz | 3Q25 Resultados 3T25 Presentation 17

  18. Slide 18: Net income grew 61% in Q3 2025 versus Q3 2024

    And in net income, we achieved 61% growth in Q325 versus Q324. Net income R$ million Earningsde Apresentação Méliuz | 3Q25 Resultados 3T25 Presentation 18

  19. Slide 19: Agenda: Cash generation and Bitcoin strategy

    | AGENDA Topline & Growth Bottom Line & Operating Efficiency Cash generation and Bitcoin strategy

  20. Slide 20: Cash flow increased by R$ 16.1 million between June and October 2025

    We increased our cash flow by R$ 16.1 million between June/25 and October/25 Cash position R$ million R$ 16.1 million Total change over the period Méliuz | 3Q25 Earnings Presentation 20

  21. Slide 21: Operating cash flow of R$ 25.3 million and R$ 9.2 million invested in Bitcoin

    This result was the outcome of operating cash flow of R$ 25.3 million, combined with an investment of R$ 9.2 million in the Bitcoin strategy Cash flow variations June to October 2025 R$ milhões Méliuz | 3Q25 Earnings Presentation 21

  22. Slide 22: YTD Accumulated BTC Yield of 920%

    We have a YTD Accumulated BTC Yield of 920% Sats per share BTC Gain (BTC) BTC US$ Gain (USD) ₿ 420.8 US$ 48.0MM BTC yield (YTD) BSE return +920% 25% Méliuz | 3Q25 Earnings Presentation Bitcoin position Average purchase price of BTC ₿ 604.69 (US$) US$ 103,323 22

  23. Slide 23: Share buyback plan launched in Q3 2025; EV/EBITDA versus peers

    In Q3 2025, we announced the launch of the Company's share buyback plan. Outros players Méliuz Enterprise Value (EV)¹ Multiple R$ million EV/EBITDA: BMOB3: 5.46x 483.6 87.6 0.67x LWSA3: 10.71x +37% +45 MM TOTS3: 17.15x Receita líquida YoY Total accounts 94.7 MM 4th place Méliuz | 3Q25 Earnings Prese

  24. Slide 24: ri.meliuz.com.br

    ri.meliuz.com.br ri@meliuz.com.br

Méliuz — Q3 2025 Earnings Presentation on 6ix