KINNEVIK ROCKET CAPITAL MARKETS DAY
BERLIN, MAY 22 2014

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2

LINIO – THE B2C MARKET PLACE FOR SPANISH LATAM
Targeting the crown jewel of ecommerce
• Targeting the general ecommerce space in Spanish speaking Latam
with a B2C market place and retail business model
• Currently 225m addressable customers across 4 fast growing
economies - now expanding to another 9 countries and ~100
million people
Clear market leadership in all launched countries
• Founded in 2012 and already market leader in in Mexico, Colombia,
Peru and Venezuela
• Offers more than 300,000 products across 60 categories
Positioned to win
• Unparalleled product mix diversification and company positioning
• Lean set-up with HQ and shared services in Mexico, Independently
operating country offices in Bogota, Lima, Caracas and Santiago
• COD offering in all markets, extensive in-house and 3PL logistic
set-up that covers 99%+ of population even for oversized items
Quick highlights – Linio:
3

To be the biggest and most trusted market
place - online as well as offline - for
companies to sell and customer buy
products in Latin America
OUR VISION
4

Targeting the crown jewel of ecommerce

HUGE FAST-GROWING RETAIL MARKET
ANNUAL
RETAIL
GROWTH:
ANNUAL
ONLINE RETAIL
GROWTH:
6%
29%
RETAIL
MARKET
SIZE 480EUR BN
6
Source: Goldman Sachs IBC

LINIO IS ADDRESSING THE LARGEST UNTAPPED ECOMMERCE
OPPORTUNITY IN THE WORLD
GDP (USD TN.)
16.2
8.3
5.9
3.4
3.2
DOMINATING B2C
Source: United Nations, 2012
7

8
E-COMMERCE IS POISED TO BE A REAL GAME-CHANGER IN LATAM
36%of the Colombian population lives in a
city with 1 leading department store
90%of the US population lives 15 minutes
away from a Walmart
Distribution of main department stores and
leading electronics offline chain

Internet Penetration by Country
% over total population
Online retail market size
Million USD
GDP per capita
USD
Online retail market penetration
% over total retail market
26%
30%
31%
33%
51%
60%
42%
51%
0%
15%
30%
45%
60%
75%
Mexico
Colombia
Peru
Venezuela
0.4%
0.3%
0.3%
0.6%
2.3%
0.9%
0.5%
0.9%
0.0%
0.8%
1.5%
2.3%
3.0%
Mexico
Colombia
Peru
Venezuela
8085
5149
4362
5690
11224
7831
6797
6128
-­‐
3,000
6,000
9,000
12,000
Mexico
Colombia
Peru
Venezuela
670
139
66
82
5096
700
168
97
-­‐
750
1,500
2,250
3,000
Mexico
Colombia
Peru
Venezuela
2009
2013
THE FUNDAMENTALS FOR E-COMMERCE ARE GROWING RAPIDLY
9
Source: IMF, World Bank, Goldman Sachs

Clear market leader in all markets

EXPLOSIVE SALES GROWTH
Q3
´12
Q4
´12
Q1
´13
Q2
´13
Q3
´13
Q4
´13
206K
NET ORDERS
11

DRIVEN BY CONTINOUSLY GROWING CUSTOMER BASE
-­‐
400
800
1,200
1,600
Dec-­‐12
Feb-­‐13
Apr-­‐13
Jun-­‐13
Aug-­‐13
Oct-­‐13
Dec-­‐13
-­‐
100
200
300
400
Dec-­‐12
Feb-­‐13
Apr-­‐13
Jun-­‐13
Aug-­‐13
Oct-­‐13
Dec-­‐13
Active email subscribers since December 2012
´000 email subscribers
Unique customers since December 2012
´000 customers
12

1
Based
on
similarweb.com
LINIO HAS A CLEAR TRAFFIC MARKET SHARE LEADERSHIP IN THE 4
MARKETS WHERE WE CURRENTLY OPERATE
Pure
e-­‐commerce
players
Visits
(in
Mn),
March
2014
1
Mkt
share
1
0" 2" 4" 6" 8"
Linio"
Netshoes"
Amazon"
Decompras"
Dportenis"
Coordiutil"
Others"
54%"
25%"
2%"
2%"
Pure
e-­‐commerce
+
Offline
Retailers
Visits
(in
Mn),
March
2014
1
Mkt
share
1
0" 2" 4" 6" 8" 10"
Linio"
Netshoes"
Walmart"
Falabella"
Liverpool"
Éxito"
Coppel"
Others"
1%"
0%"
16%"
23%"
9%"
9%"
7%"
5%"
5%"
31%"
(7
Peers)
(30
Peers)
11%"
13

0%"
5%"
10%"
15%"
20%"
25%"
Q2'12" Q4'12" Q2'13" Q4'13"
Mobile visit ratio of total visits
Percentage of total site visits
LINIO IS QUICKLY BECOMING A MOBILE SHOPPING PLATFORM
Android APP
Mobile theme
IOS APP
14

LINIO IS A TRUE MULTI-CATEGORY SITE
SHIPPED ITEMS BY CATEGORY
DECEMBER 2013
More than 60 categories140k items shipped in one month 15

From <5% of sales in December to ~25%
of sales in May
Monthly growth rate of 84% (1)
Vendor base of 1000+, growing at 62%
monthly
Average achieved commission north of
12%
(1) Average growth rate from June 2013 to April 2014
MARKETPLACE IS GROWING INCREDIBLY
FAST WITH HEALTHY MARGINS
16

Positioned to win

• Consulting
• Private Equity
• MBA
• Norwegian national
CEOAndreas Mjelde
NAME TITLE PREVIOUS EXPERIENCE
• Consulting
• Consumer goods
• MBA
• Italian national
• CFO and FPA roles across
Europe
• MSc
• French national
Luca Ranaldi
Olivier Sieuzac
Chief Commercial Officer
MD Linio Colombia
Head of Finance
Antonio Nunes Chief Marketing Officer • Consulting
• Business Development
• MSc
• Portuguese national
Cristian Cortes Chief Operating Officer • Consulting
• Logistics operations
• MBA
• Mexican national
Fernando D’Allesio Head of Business Development
MD Linio Peru
• Corporate finance
• Business Development
• MBA
• Peruvian national
COMPLETE REGIONAL MANAGEMENT STRUCTURE LEADS TO BENEFITS
OF SCALE AND FUNCTIONAL EXPERTISE
18

STRONG AND DIVERSIFIED INVESTOR
PORTFOLIO
Backing from highly successful sector specialists and investors:
19

Only e-commerce platform with broad Cash
On Delivery offering
SCALABLE SOLUTIONS IN PLACE TO OVERCOME THE OPERATIONAL
CHALLENGES IN THE REGION
Independently operating 4 large scale
warehouses to ensure fast and cost efficient
operations
Full integration with major logistics carriers
in each country and last-mile own fleet,
enabling superior service level and tracking
capabilities
Fully in-sourced 24/7 customer service to
offer un-paralleled customer experience
Internally developed anti-fraud team with
best-in-class performance
20

LINIO WILL IN THE NEXT 6-12 MONTHS CONTINUE TO INNOVATE THE
B2C MODEL IN LATAM
Geographic expansion to 9 new countries to cover a total of > 320 million people
Continued expansion of market place offering
Express shipping nationwide and innovative same-day delivery in capitals
Linio Mas (more) - subscription model for free shipping and exclusive offerings
Express shipping and Linio Mas also for market place products
21

Marketplace
Fulfilment
B2C
Operating Model Similar players Date Launched Benefits
▪ Control supply chain
▪ Build strong customer reputation and trust
June
2012
June
2013
Winter 2014
▪ Expand assortment
▪ Improve economics and reduce working capital needs
▪ Offer marketplace / C2C merchants and 3rd parties world
class ecommerce logistic service
▪ Further drive operational efficiency
Payment 2015
▪ Offer customers with trustworthy and reliable payment
options
▪ Lower costs for sellers
Groceries Summer 2015
▪ Partner with one large grocery retailer in each market to
start offering same-day and express grocery deliveries
SEVERAL ADDITIONAL ATTRACTIVE BUSINESS MODELS
TO BUILD OUT FROM CURRENT CORE
22