KINNEVIK ROCKET CAPITAL MARKETS DAY

BERLIN, MAY 22 2014

1he lnformauon conLalned ln Lhls presenLauon ls publlc lnformauon only, buL lL does noL necessarlly represenL all
lnformauon relaLed Lo Lhe lssues dlscussed or presenLed hereln, or all vlews of Lhe company. 1he lnformauon has
been researched by Lhe company wlLh due care and all and any evaluauons or assessmenLs sLaLed hereln represenL
Lhe company's oplnlons. We advlse you LhaL some of Lhe avallable lnformauon has been lndependenLly verled and
may be based on sLaLemenLs by Lhlrd persons, buL no represenLauon or warranLy, expressed or lmplled, ls made as
Lo, and no rellance should be placed on, Lhe falrness, accuracy, compleLeness or correcLness of Lhls lnformauon or
oplnlons conLalned hereln. CerLaln sLaLemenLs conLalned hereln may be sLaLemenLs of fuLure expecLauons and
oLher forward-looklng sLaLemenLs LhaL are based on our currenL personal vlews and assumpuons and lnvolve
known and unknown rlsks and uncerLalnues LhaL may cause acLual resulLs, performance or evenLs Lo dler
maLerlally from Lhose expressed or lmplled ln such sLaLemenLs. none of our Leam shall assume any llablllLy
whaLsoever (ln negllgence or oLherwlse) for any loss or unreallzed proL whaLsoever arlslng from any use of Lhls
presenLauon or Lhe sLaLemenLs conLalned hereln as regards unverled Lhlrd person sLaLemenLs, any sLaLemenLs of
fuLure expecLauons and oLher forward-looklng sLaLemenLs, or Lhe falrness, accuracy, compleLeness or correcLness
of sLaLemenLs conLalned ln Lhe presenLauon, or oLherwlse made ln connecuon wlLh Lhls presenLauon.


1hls presenLauon does noL consuLuLe an oer or lnvlLauon Lo purchase or subscrlbe for any lnvesLmenL and nelLher
Lhls presenLauon nor any parL of lL shall form Lhe basls of or be relled upon ln connecuon wlLh Lhe enLerlng lnLo any
commlLmenL or conLracL whaLsoever, and ls solely lnLended Lo communlcaLe lnformauon regardlng Lhe company,
lLs buslness Lrack-records and Leam members. no one should base Lhelr lnvesLmenL declslons on Lhls presenLauon
buL should form Lhelr personal oplnlons on Lhe basls of furLher avallable lnformauon and evaluauons and
assumpuons. ln addluon, any prospecuve lnvesLor should consulL lLs own auorney and buslness advlsor as Lo Lhe
legal, buslness, and Lax and relaLed mauers concernlng any lnvesLmenL declslon.
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:
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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
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
S1
60
42
S1
0
1S
30
4S
60
7S
Mex|co Co|omb|a eru Venezue|a
0.4
0.3
0.3
0.6
2.3
0.9
0.S
0.9
0.0
0.8
1.S
2.3
3.0
Mex|co Co|omb|a eru Venezue|a
808S
S149
4362
S690
11224
7831
6797
6128
-
3,000
6,000
9,000
12,000
Mex|co Co|omb|a eru Venezue|a
670
139
66 82
S096
700
168
97
-
7S0
1,S00
2,2S0
3,000
Mex|co Co|omb|a eru Venezue|a
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
3 12 4 12 1 13 2 13 3 13 4 13
206K
NET ORDERS
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DRIVEN BY CONTINOUSLY GROWING CUSTOMER BASE
-
400
800
1,200
1,600
Dec-12 Ieb-13 Apr-13 Iun-13 Aug-13 Cct-13 Dec-13
-
100
200
300
400
Dec-12 Ieb-13 Apr-13 Iun-13 Aug-13 Cct-13 Dec-13
Active email subscribers since December 2012
000 email subscribers
Unique customers since December 2012
000 customers
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1
8ased on slmllarweb.com
LINIO HAS A CLEAR TRAFFIC MARKET SHARE LEADERSHIP IN THE 4
MARKETS WHERE WE CURRENTLY OPERATE
ure e-commerce p|ayers
V|s|ts (|n Mn), March 2014
1
Mkt share
1

0 2 4 6 8
Linio
Netshoes
Amazon
Decompras
Dportenis
Coordiutil
Others
54%
25%
2%
2%
ure e-commerce + Cm|ne keta||ers
V|s|ts (|n Mn), March 2014
1
Mkt share
1

0 2 4 6 8 10
Linio
Netshoes
Walmart
Falabella
Liverpool
xito
Coppel
Others
1%
0%
16%
23%
9%
9%
7%
5%
5%
31%
(7 eers) (30 eers)
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

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LINIO IS A TRUE MULTI-CATEGORY SITE
SHIPPED ITEMS BY CATEGORY
DECEMBER 2013
More than 60 categories
140k items shipped in one month
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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
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Positioned to win
Consulting
Private Equity
MBA
Norwegian national
CEO Andreas 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 DAllesio 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
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STRONG AND DIVERSIFIED INVESTOR
PORTFOLIO
Backing from highly successful sector specialists and investors:
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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
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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
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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 3
rd
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
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