BRADESCO CEO FORUM

NOV/20

Leading Brand

Omni Fashion Retailer

Financial Products andServices

VALUE PROPOSITION

Marisa’s value proposition is to offer a

translating trends that best fit our customers

fashion,Democratic

STORES

345 Stores

181 Malls (52%) | 164 Streets (48%)

182 Southeast (53%) | 163 Nationwide (47%)

Distribution center

7 10

2

11

Number of stores

2

2

1

1

3

3

55

611

33

15

10

10

23 4

30126

16

4

11

24

OUR PAST

2.3

2.9

3.2

3.7

4.1

4.4

4.1

3.7 3.73.5

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Retail Salesin billion R$

Golden Years

o Accelerated growth

o Country wide expansion

o Financial Services introduction

o IPO

Perfect Storm

o External challenges with economic deterioration

o Internal mistakes with positioning

o Consecutive decline in SSS

o Negative financial results

WHAT WE’VE BEEN DOING

Products Operation Merchandising Supply Chain

o Improvement of product quality in terms of raw material, sewing and model

o Better timing to market demand

o Appropriate collections for each region

o Inventory optimization

o Strategies for each section of the store, according to customers’ age and products’ turnover

o Targeted distribution of stores’ sectors considering exposure to customers

o New marketing strategies in terms of products’ showcase and exposition via digital influencers on social media

o Products supply according to clients demand and considering area/projections of sales

o Average leadtimereduction of 11 days

o Optimized alignment of store supply frequency with distribution center

Operating Processes Improvements

TURNAROUND ON TRACK

Same Store Sales

-0.8%

-2.2%

7.6%

5.1% 5.6%

9.5%

11.7%*

2017 2018 1Q19 2Q19 3Q19 4Q19 1Q20

*SSS until March 15, 2020

DIAGNOSIS

Recovering a more profitable client basis

Who was Marisa attracting?

o Older woman

o Lower income

o Smaller fashion repertoire

Who is Marisa bringing back?

o Younger

o Higher income

o Higher fashion demand

36 43 47

72

3

57 55 50

1Q18 1Q19 4Q19

Marisa and others Only Marisa Didn't Visit

Competitive scenario

Store Layout

Customer Service

Product

Price

7.5 8.5

2018

2019

8.0

Customer satisfaction

Source: Oficina Sophia

2019: IMPROVEMENT OF CUSTOMER PERCEPTION

3037 35

2018 2019 2020

Customers aged 18 to 29 Evolution of satisfaction

Source: Oficina Sophia

Who bought at Marisa:

2020: ATTRACTING YOUNGER PUBLIC

4

11

19

24

43

Card

Product & Style

Price

Customer Service

Store Layout

1Q19

7

17

23

25

28

Price

Card

Store Layout

Customer Service

Product & Style

1Q20

PANDEMIC IMPACTS

o Focus in:

o Ensure the safety of employees and customers;

o Preserve the operational condition of the business;

o Support employees, customers and suppliers;

1. Home-office;

2. Business security measures;

o Contracts renegotiation;

o Digital acceleration;

o Cash protective measures, as invoice payment initiatives, among others.

MAIN LEGACIES

o Operating leverage improvement;

o New level of store rental contracts;

o Processes digitalization;

o Permanent home-office for part of

the employees;

o Cash converion cycle optimization

(inventories). 55.4

59.861.1

64.4

58.1 57.0 56.6 55.6

66.8

73.6

jan feb mar apr may jun jul aug sep oct

NPS EVOLUTION | 2020

o Growth and relevance of the digital platform and omnichannel;

IMPROVING RESULTS

Net Revenue (R$ mn) and SSS (%) Gross Profit (R$ mn) and Margin (%)

540.3 550.7

149.1

446.6

-2.3%

5.6%

-9,7%-6.3%

3.5%*

3Q18 3Q19 2Q20 3Q20 Oct

Net Retail Revenue SSS

228.5 234.6

46.4

150.5

42.3% 42.6%

31.1%33.7%

41.7%*

3Q18 3Q19 2Q20 3Q20 Oct

Gross Profit Margin

o Sales quickly returning to normal levels;

o Digital Platform increasing 115.6% y/y – 24% of Ship from

store;

o Items/ticket grew 15.1% y/y;

o Adequacy of inventories of 27% in the period;

o Gradual evolution of the product margin during the period -

31.1% in July, 36.5% in August and 43.6% in September.;

*The data for the month of October are preliminary information and not audited by the independent auditors

o To become the platform for the Brazilian woman – APP, omnichannel

and marketplace in;

o New store concept;

o Digital FPS;

o Stores and logistics processes optimization.

STRATEGIC PROJECTS

GOVERNANCE: BOARD OF DIRECTORS

High Corporate Governance Standards

Chairman✓ EX-CEO of RI Happy and Walmart

Brasil✓ More than 10 years of retail

Non-Independent Advisor✓ More than 50 years at Marisa✓ Ex-CEO of Marisa

Independent Advisor✓ Ex-CEO of Walmart.com in Brazil✓ More than 20 years in online sales

Independent Advisor✓ Ex-CEO of Smiles, Credicard and

Losango✓ More than 30 years in the financial

sector

Hector Nuñez Marcio Goldfarb Paulo Silva

Leonel AndradeCristina Sarian

Independent Advisor✓ Advisor at RaiaDrogasil✓ 20 years of experience in the

financial sector

Carla Schmitzberger

Independent Advisor✓ Ex-Head of Havainas Unit at

Alpargatas✓ Ex-VP of Marketing at Credicard

and Citibank

GOVERNANCE

Board of Directors

Strategy Comittee

Audit Comittee

HR Comittee

Finance Comittee

Eduardo Pocetti

Mauricio Graccho

Marco Foletto

Fiscal Council

GOVERNANCE: MANAGEMENT

CEO

✓ More than 20 years in store operations inretail

✓ Former VP of Operations and Sales at Marisa

Marcelo Pimentel

VP of Finance and IRO

✓ More than 20 years in finance✓ More than 8 years in fashion retail

Adalberto Santos

VP of Procurement and Operations

✓ More than 20 years in operation infashion retail

Alberto Kohn