1. CONFERENCE CALL
RESULTS 4Q16
February 21st, 2017

2. 2. OPERATIONAL HIGHLIGHTS
AGENDA 4T16
1. RESULTS
2. OPERATIONAL HIGHLIGHTS
3. INVESTMENTS
4. Q&A SESSION 2

3. MARKETPLACE (% Total GMV)
1. MAIN INDICATORS
TOTAL GMV (R$)
MARKETPLACE GMV (R$)
MARKETPLACE (% Total GMV)
12,458 MM
2,179 MM
17.5%
+10.6%
+153.4%
+9.9 p.p.
MARKET SHARE (%)
EBITDA (R$)
MOBILE (% Traffic)
26.2%
688 MM
49.5%
+0.7 p.p.
+12.8%
+15.3 p.p. 3

4. MARKETPLACE (% Total GMV)
1. MAIN INDICATORS – 4T16
TOTAL GMV (R$)
MARKETPLACE GMV (R$)
MARKETPLACE (% Total GMV)
4,436 MM
862 MM
19.4%
+18.3%
+140.8%
+9.9 p.p.
MARKET SHARE (%)
MOBILE (% Traffic)
NEW CUSTOMERS (LTM)
28.4%
51.4%
+701 Thousand
+1.6 p.p.
+12.7 p.p. 4

5. Leadership position of B2W Digital in Latin America.
2. MARKET SHARE
Leadership position of B2W Digital in Latin America.
Source: e-Bit 5 5

6. People, Businesses, Products and Services.
2. VIRTUOSOUS CYCLE
The Digital Platform that connects
People, Businesses, Products and Services. 6

7. Marketplace GMV (R$ MM)
2. MARKETPLACE GMV GROWTH
More than 4,700 sellers in the platform (+2,200 vs 2015).
2.2 Billion (R$) GMV in last 12 months (+153.4%).
19.4% participation in Total GMV in 4Q16 (+9.9 p.p. vs 4Q15).
19.4%
18.7%
862
2,179
15.9%
14.2%
571
+2.5x
9.5%
398
860
358
348
4Q15
1Q16
2Q16
3Q16
4Q16
2015
2016
Marketplace GMV (R$ MM)
Marketplace participation in Total GMV (%)
Marketplace GMV (R$ MM) 7 7

8. 2. NEW PARTNERSHIPS IN MARKETPLACE
In line with the strategy to integrate new stores of various sizes and across multiple sectors, B2W stablished new important partnerships. 8

9. Benefits: 2. B2W ENTREGA - DELIVERY SERVICE
A partnership with Correios (Brazilian postal authority) that offers small and medium-sized sellers a new freight option.
Single contract with carrier
Order Tracking
B2W technology platform
Full control of the delivery process
Benefits:
1-Optimization and standardization of the post
2-Reduction of contacts and complaints
3-Treatment of occurrences by B2W
4-Cost Reduction for Sellers and Clients 9

10. B2W Services: Complete solutions in different verticals.e tecnologia.
2. BIT SERVICES
B2W Services: Complete solutions in different verticals.e tecnologia.
Online Price Intelligence
Marketplace
Integration
Webstore and ERP Services
Digital
Marketing
Digital
Security
Offline Price Integration 10

11. + 2. LOGISTICS AND OPERATION 95% 59% 185 142 +36 p.p. +30%
Distribution Unit participation in deliveries:
4Q15
4Q16
59%
95%
B2W Distribution Unit rechead 95% of total deliveries made by the Company.
Through the agreement with Vialog, B2W will have more capilarity in the southern region.
+36 p.p. 2 5 1
Number of Hubs
4Q15
4Q16
142
185
+30%
Distribution Centers
National Coverage with 185 hubs 10 11
Vialog Operation (40 hubs)

12. Traffic by mobile devices
2. M-COMMERCE
B2W Digital’s leadership in migration from e-commerce to m-commerce.
Traffic by mobile devices
+12.7 p.p.
51.4%
2016: B2W’s apps were downloaded 5.7 million of times (+105% vs 2015).
38.7%
4Q15
4Q16 12

13. 2. CUSTOMER SERVICE
B2W continues to be recognized as best-in-class for its customer service #3
Average grade¹
3.7
7.2
Solution index¹
58%
89%
Would buy again¹
38%
78%
COMPETITORS
4Q16
3Q16
4Q16
3Q16
7.0
4.3
90%
67%
73%
47%
¹ According to Reclame Aqui: Last 6 Months / Base 01/23/2017. 13

14. 3. INVESTIMENTS
B2W will continue to invest in the digital platform it has built, monetizing all areas of the business.
Continuous reduction of CAPEX as a % of total GMV...
…and increase of coverage of CAPEX by EBITDA.
Increase of EBITDA/CAPEX coverage
Reduction of CAPEX as % of total GMV
150%
12%
76% 9% 7%
68%
60% 4%
2013
2014
2015
2016
2013
2014
2015
2016
The CAPEX of 4Q16 totaled R$ 129,4 milhões (3% of Total GMV) and the EBITDA Coverage Index in the same period was 202%.
Note: Total Capex of R$ 714mm, R$ 812mm, R$ 808mm and R$ 460mm in 2013, 2014, 2015 and 2016, respectively. 14

15. The Digital Platform that connects People, Businesses, Products and Services.15

16. 4Q16 Earnings Call and Webcast
Investor Relations
Telephone: +55 (21)