MercadoLibre, Inc. Reports Financial Results for Fourth Quarter 2012 and Full Year 2012

MercadoLibre, Inc. Reports Financial Results for Fourth Quarter 2012 and Full
Year 2012

* Net Revenues in Q4'12 grew to 103.8 million, a 30.9% growth in local
currencies, and a 20.0% growth in USD

* Items sold during Q4'12 increased by 19.5% year-over-year to 19.0 million

* Net Income during Q4'12 grew to 30.2 million, a 47.6% growth in local
currencies, and a 39.9% growth in USD

BUENOS AIRES, Argentina, Feb. 25, 2013 (GLOBE NEWSWIRE) -- MercadoLibre, Inc.
(Nasdaq:MELI) (http://www.mercadolibre.com), Latin America's leading
e-commerce technology company, today reported financial results for the fourth
quarter and full year ended December 31, 2012.

Marcos Galperin, President and Chief Executive Officer of MercadoLibre, Inc.,
commented, "I am very pleased with the financial results that MercadoLibre was
able to deliver during 2012: above $373 million in revenues, a 39%
year-on-year growth in constant dollars, and slightly more than $100 million
in Net Income, a 44% year-on-year growth in constant dollars. These growth
rates were achieved despite difficult comparisons during the second half of
the year as we anniversaried the launch of our new technology platform. Our
sustained investment in this platform will remain crucial going forward:
having accelerated our pace of innovation, it allows us to constantly improve
upon the buying and selling experience that we offer our users, as we continue
building the preeminent e-commerce ecosystem in the region."

Financial Results Summary

MercadoLibre reported consolidated net revenues for the three months ended
December 31, 2012 of $103.8 million, representing a year-over-year growth of
20.0% in USD, and 30.9% in local currencies.

For the three months ended December 31, 2012, gross merchandise volume grew
13.6% year-over-year to $1,646.5 million, while total payment volume grew
30.5% year-over-year to $524.9 million. In local currencies, gross merchandise
volume grew 21.1% year-over-year, while payment volume grew 47.1%
year-over-year.

Items sold on MercadoLibre during the fourth quarter 2012 increased 19.5% to
19.0 million, while total payments transactions through MercadoPago increased
42.6% to 6.7 million.

Gross profit for the fourth quarter of 2012 was $76.4 million, a 16.1%
increase over the previous year quarter. Gross profit margin for the period
was 73.6%, down from 76.0% during the fourth quarter of 2011, driven primarily
by growth in the lower margin payment business.

Total operating expenses during the fourth quarter 2012 were $37.2 million, a
1.2% increase over the previous year quarter. Total operating expenses as a
percentage of net revenues for the fourth quarter of 2012 were 35.9%, an
improvement of 666 basis points compared to 42.5% for the same quarter one
year earlier.

Income from operations for the fourth quarter 2012 was $39.1 million,
representing a year-over-year growth of 35.1% in USD, and 49.6% in local
currencies. Operating income margin for the period was 37.7%, up from 33.5%
during the fourth quarter of 2011.

Net income before taxes was $42.2 million, an increase of 36.9% over the
fourth quarter of 2011. The blended tax rate for the quarter was of 28.4%, as
compared to 29.9% during the same quarter one year earlier.

Net income for the three months ended December 31, 2012, increased 39.9%
year-over-year to $30.2 million, a local currency growth of 47.6%.

Net income margin was 29.2% for the fourth quarter of 2012, compared to 25.0%
for the same period last year. Earnings per share for the fourth quarter of
2012 were $0.69 compared to $0.47 for the prior year quarter.

Free cash flow, defined as cash from operating activities less payment for the
acquisition of property, equipment and intangible assets, was $51.1 million
for the three months ended December 31, 2012, an increase of 103.2% over the
fourth quarter of 2011.*

For the full year, MercadoLibre generated $5.7 billion in gross merchandise
volume, consolidated net revenues of $373.6 million, and net income of $101.3
million, or $2.30 per share. Gross merchandise volume was up 18.3% in 2012
when compared to the full year 2011, while net revenues increased 25.0% and
net income increased 32.0%. In constant dollars, gross merchandise volume
increased 29.2%, consolidated net revenues were up by 38.9%, and net income
was up by 44.2%, all versus the previous year.

(*) See note on "Non-GAAP Financial Measures"

The following table summarizes certain key performance metrics for the three
months ended December 31, 2012 and 2011.

Three month ended December 31, (in 2012      2011      %YoY  %YoY Constant USD
MM)
Total confirmed registered users   81.5      65.8      23.7% --
at the end of period
New confirmed registered users     4.3       3.8       12.0% --
during the period
Gross merchandise volume           $ 1,646.5 $1,450.0 13.6% 21.1%
Items sold                        19.0      15.9      19.5% --
Total payments volume             $524.9  $402.3  30.5% 47.1%
Total payments transactions       6.7       4.7       42.6% --

Table of Year-on-Year Local Currency Revenue Growth Rates by Quarter

                          YoY Growth rates at previous years exchange rates
Consolidated Net                                                
Revenues
                          Q4'11    Q1'12    Q2'12   Q3'12   Q4'12
Brazil                   39%        29%        36%       25%       19%
Argentina                70%        85%        81%       69%       62%
Mexico                   31%        35%        30%       29%       19%
Venezuela                64%        66%        72%       57%       43%
Others                   35%        34%        30%       20%       15%
Total                    46%        44%        47%       37%       31%

Conference Call and Webcast

The Company will host a conference call and audio webcast on February 25, 2013
at 4:30 p.m. Eastern Time. The conference call may be accessed by dialing
+(970) 315-0420 or +(877) 303-7209 (Conference ID 12322459) and requesting
inclusion in the call for MercadoLibre. The live conference call can be
accessed via audio webcast at the investor relations section of the Company's
website, at http://investor.mercadolibre.com. An archive of the webcast will
be available for one week following the conclusion of the conference call.

Definition of Selected Operational Metrics

Total confirmed registered users – Measure of the cumulative number of users
who have registered on the MercadoLibre platform (including MercadoPago) and
confirmed their registration.

New confirmed registered users – Measure of the number of new users who have
registered on the MercadoLibre platform (including MercadoPago) and confirmed
their registration.

Gross merchandise volume – Measure of the total U.S. dollar sum of all
transactions completed through the MercadoLibre Marketplace, excluding motor
vehicles, vessels, aircraft, real estate, and services.

Items sold– Measure of the number of items sold/purchased through the
MercadoLibre Marketplace.

Total payment volume – Measure of total U.S. dollar sum of all transactions
paid for using MercadoPago.

Total payment transactions – Measure of the number of all payment completed
transactions using MercadoPago.

Operating margin – Defined as income from operations as a percentage of net
revenues.

Blended tax rate – Defined as income and asset tax expense as a percentage of
income before income and asset tax.

Net income margin – Defined as net income as a percentage of net revenues.

Free Cash Flow – Defined as cash flows from operating activities less
property, equipment and intangible asset.

Local Currency Growth Rates – Calculated by using the average monthly exchange
rate for each month during the previous year and applying it to the
corresponding month in the current year, so as to calculate what the growth
would have been had exchange rates been the same throughout both periods.

About MercadoLibre

Founded in 1999, MercadoLibre is Latin America's leading e-commerce technology
company. Through its primary platforms, MercadoLibre.com and MercadoPago.com,
it provides solutions to individuals and companies buying, selling,
advertising, and paying for goods and services online.

MercadoLibre.com serves millions of users and creates a market for a wide
variety of goods and services in an easy, safe and efficient way. The site is
among the top 50 in the world in terms of page views and is the leading retail
platform in unique visitors in the major countries in which it operates
according to metrics provided by comScore Networks. The Company is listed on
NASDAQ (Nasdaq:MELI) following its initial public offering in 2007.

For more information about the company visit:
http://investor.mercadolibre.com.

The MercadoLibre, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=4193

Consolidated balance sheets                                    
                                                  December 31,  December 31,
                                                  2012          2011
Assets                                                          
Current assets:                                                 
Cash and cash equivalents                          $101,489,002 $67,381,677
Short-term investments                             93,694,805    74,928,620
Accounts receivable, net                           19,837,022    16,815,087
Credit cards receivables, net                      35,816,506    23,855,689
Prepaid expenses                                   2,080,079     1,269,594
Deferred tax assets                                11,040,543    9,131,638
Other assets                                       11,403,218    6,863,250
Total current assets                               275,361,175   200,245,555
Non-current assets:                                             
Long-term investments                              85,955,584    43,933,316
Property and equipment, net                        37,726,222    30,877,719
Goodwill                                           60,366,063    62,093,948
Intangible assets, net                             7,279,865     6,494,857
Deferred tax assets                                5,862,247     6,491,646
Other assets                                       6,118,120     5,794,395
Total non-current assets                           203,308,101   155,685,881
Total assets                                       $478,669,276 $355,931,436
                                                               
Liabilities and Equity                                          
Current liabilities:                                            
Accounts payable and accrued expenses              $23,976,613  $20,251,313
Funds payable to customers                         101,472,662   69,216,185
Salaries and social security payable               19,974,463    13,525,293
Taxes payable                                      19,210,568    11,633,178
Loans payable and other financial liabilities      84,570        146,194
Dividends payable                                  4,812,396     3,531,362
Total current liabilities                          169,531,272   118,303,525
Non-current liabilities:                                        
Salaries and social security payable               3,452,445     3,844,172
Loans payable and other financial liabilities      59,493        136,227
Deferred tax liabilities                           8,975,290     8,670,606
Other liabilities                                 2,837,150     1,797,890
Total non-current liabilities                      15,324,378    14,448,895
Total liabilities                                  $184,855,650 $132,752,420
                                                               
Commitments and contingencies (Note 15)                         
Redeemable noncontrolling interest                 $4,000,000   $4,000,000
Equity:                                                         
Common stock, $0.001 par value, 110,000,000 shares
authorized, 44,150,920 and 44,142,020 shares       $44,151      $44,142
issued and outstanding at December 31, 2012 and
December 31, 2011, respectively
Additional paid-in capital                         120,468,759   120,452,032
Retained earnings                                  218,083,844  135,726,188
Accumulated other comprehensive loss               (48,783,128)  (37,043,346)
Total Equity                                      289,813,626   219,179,016
                                                               
Total Liabilities, Redeemable Noncontrolling       $478,669,276 $355,931,436
Interest and Equity

                                                              
Consolidated statements of income                            
                                    Year Ended December 31,
                                    2012          2011          2010
                                    
Net revenues                         $373,601,494 $298,931,625 $216,715,713
Cost of net revenues                 (98,085,644)  (72,055,835)  (46,549,845)
Gross profit                         275,515,850   226,875,790   170,165,868
                                                              
Operating expenses:                                            
Product and technology development   (28,626,880)  (23,349,787)  (15,855,992)
Sales and marketing                 (72,002,954)  (64,968,755)  (48,883,167)
General and administrative           (45,228,145)  (38,785,083)  (30,828,146)
Total operating expenses            (145,857,979) (127,103,625) (95,567,305)
Income from operations               129,657,871   99,772,165    74,598,563
                                                              
Other income (expenses):                                       
Interest income and other financial  11,877,375    9,905,829     4,931,215
gains
Interest expense and other financial (1,138,379)   (3,648,733)   (7,601,671)
losses
Foreign currency gain/(loss)         11,597        2,353,005     (62,447)
Other (loss) / income, net          (190,938)     73,894        --
Net income before income / asset tax 140,217,526   108,456,160   71,865,660
expense
                                                              
Income / asset tax expense           (38,871,379)  (31,659,821)  (15,840,641)
Net income                          $101,346,147 $76,796,339  $56,025,019
                                                              
Less: Net Income attributable to     98,849        16,286        --
Reedemable Noncontrolling Interest
Net income attributable to           $101,247,298 $76,780,053  $56,025,019
MercadoLibre, Inc. shareholders
                                                              
                                    Year Ended December 31,
                                    2012          2011          2010
                                                              
Basic EPS                                                      
Basic net income attributable to                  
MercadoLibre, Inc.
Shareholders per common share        $2.30        $1.73        $1.27
                                                              
Weighted average shares              44,147,861    44,138,397    44,124,018
                                                              
                                                              
Diluted EPS                                                    
Diluted net income attributable to                
MercadoLibre, Inc.
Shareholders per common share        $2.30        $1.73        $1.27
                                                              
Weighted average shares              44,149,838    44,151,437    44,146,858

                                                              
Consolidated statements of income                            
                                              Three Months Ended December 31,
                                              2012             2011
                                              (Unaudited)
                                              
Net revenues                                   $103,754,645    $86,465,653
Cost of net revenues                           (27,402,861)     (20,724,540)
Gross profit                                   76,351,784       65,741,113
                                                              
Operating expenses:                                            
Product and technology development             (6,686,830)      (6,748,985)
Sales and marketing                           (19,182,428)     (19,401,416)
General and administrative                     (11,354,005)     (10,624,821)
Total operating expenses                      (37,223,263)     (36,775,222)
Income from operations                         39,128,521       28,965,891
                                                              
Other income (expenses):                                       
Interest income and other financial gains      2,880,600        2,868,565
Interest expense and other financial losses    (273,902)        (1,086,099)
Foreign currency gain/(loss)                   489,094          272,183
Other (loss) / income, net                    31               (179,256)
Net income before income / asset tax expense  42,224,344       30,841,284
                                                              
Income / asset tax expense                     (11,977,955)     (9,219,854)
Net income                                    $30,246,388     $21,621,430
                                                              
                                                              
Less: Net Income attributable to Reedemable    55,985           15,764
Noncontrolling Interest
Net income attributable to MercadoLibre, Inc.  $30,190,403     $21,605,666
shareholders
                                                              
                                                              
                                              Three Months Ended December 31,
                                              2012             2011
                                              (Unaudited)
Basic EPS                                                      
Basic net income attributable to MercadoLibre, 
Inc.
Shareholders per common share                  $0.69           $0.47
                                                              
Weighted average shares                        44,150,920       44,142,020
                                                              
                                                              
Diluted EPS                                                    
Diluted net income attributable to             
MercadoLibre, Inc.
Shareholders per common share                  $0.69           $0.47
                                                              
Weighted average shares                        44,152,895       44,152,658

                                                              
Consolidated statements of cash                                
flows
                                   Year Ended December 31,
                                   2012           2011          2010
                                                              
Cash flows from operations:                                    
Net income attributable to          $101,247,298 $76,780,053  $56,025,019
MercadoLibre, Inc. Shareholders
Adjustments to reconcile net income
to net cash provided by operating                              
activities:
Net Income attributable to          98,849        16,286        --
Reedemable Noncontrolling Interest
Depreciation and amortization       8,959,293     7,268,075     4,921,650
Accrued interest                    (2,538,735)   (3,177,578)   (504,874)
Stock-based compensation expense -  --           --            244
stock options
Stock-based compensation expense -  --           --            37,696
restricted shares
LTRP accrued compensation          4,442,822     4,079,265    3,479,066
Deferred income taxes               (492,362)     1,022,797     (7,053,030)
Changes in assets and liabilities:                             
Accounts receivable                (8,651,951)   (9,274,653)   (7,063,942)
Credit Card Receivables             (15,570,142)  (19,494,707)  (2,324,575)
Prepaid expenses                    (898,959)     (436,310)     (333,755)
Other assets                        (5,809,218)   (6,532,978)   (3,643,650)
Accounts payable and accrued        18,061,683    10,808,788    8,987,590
expenses
Funds payable to customers          39,889,201    27,875,755    15,458,416
Other liabilities                   1,153,610     490,838       (89,402)
Net cash provided by operating      139,891,389   89,425,631   67,896,453
activities
Cash flows from investing                                      
activities:
Purchase of investments             (539,355,434) (379,044,395) (121,266,157)
Proceeds from sale and maturity of  472,871,653   336,835,026   76,062,629
investments
Payment for acquired businesses,    --           (5,468,180)   --
net of cash acquired
Purchases of intangible assets      (1,390,654)   (280,706)     (416,450)
Purchases of property and equipment (16,747,746)  (18,924,161)  (13,214,043)
Net cash used in investing          (84,622,182)  (66,882,416) (58,834,021)
activities
Cash flows from financing                                      
activities:
Decrease in short term debt         --           --            (3,000,000)
Dividends paid                      (17,968,004)  (10,593,206)  --
Stock options exercised             5,700         11,175        18,199
Net cash used in financing          (17,962,304)  (10,582,031) (2,981,801)
activities
Effect of exchange rate changes on  (3,199,578)   (1,409,973)   946,433
cash and cash equivalents
Net increase in cash and cash       34,107,325    10,551,211    7,027,064
equivalents
Cash and cash equivalents,          67,381,677    56,830,466    49,803,402
beginning of the year
Cash and cash equivalents, end of   $101,489,002 $67,381,677  $56,830,466
the year
                                                              
                                                              
                                   Year Ended December 31,
                                   2012           2011          2010
                                                              
Supplemental cash flow information:                            
Cash paid for interest              $68,916       $58,559      $5,781,058
Cash paid for income and asset      $38,837,721   31,050,206   22,253,947
taxes
                                                              
Acquisition of AutoPlaza.com                                   
Cash and cash equivalents           $--           $3,876       $--
Tax credits                         --             49,951        --
Non current assets                  --             99,522        --
Total assets acquired               --             153,349       --
Total liabilities assumed           --             --            --
Net assets acquired                 --             153,349       --
Goodwill and Identifiable           --             8,966,744     --
Intangible Assets
Non-controlling interest                          (3,648,037)   
Total purchase price                --             5,472,056     --
Cash and cash equivalents acquired  --             3,876         --
Payment for acquired businesses,    $--           $5,468,180   $--
net of cash acquired

                                                                         
Financial
results of                                                                
reporting
segments
            Year Ended December 31, 2012
            Brazil        Argentina    Mexico       Venezuela    Other        Total
                                                                  Countries
                                                                         
Net revenues $ 179,639,592 $88,513,640 $ 26,987,130 $ 54,676,170 $23,784,962 $373,601,494
Direct costs (104,501,652) (41,841,587) (14,912,375) (17,768,989) (11,458,627) (190,483,230)
Direct       75,137,940    46,672,053   12,074,755   36,907,181   12,326,335   183,118,264
contribution
                                                                         
Operating
expenses and
indirect                                                                  (53,460,393)
costs of net
revenues
Income from                                                               129,657,871
operations
                                                                         
Other income                                                              
(expenses):
Interest
income and
other                                                                     11,877,375
financial
gains
Interest
expense and
other                                                                     (1,138,379)
financial
results
Foreign
currency                                                                  11,597
gain
Other                                                                     (190,938)
losses, net
Net income
before
income /                                                                  $140,217,526
asset tax
expense
                                                                         
                                                                         
            Year Ended December 31, 2011
            Brazil        Argentina    Mexico       Venezuela    Other        Total
                                                                  Countries
                                                                         
Net revenues $ 165,905,789 $56,714,941 $ 22,275,213 $ 34,828,878 $19,206,804 $298,931,625
Direct costs (96,910,310)  (23,463,871) (12,472,204) (13,287,279) (10,062,446) (156,196,110)
Direct       68,995,479    33,251,070   9,803,009    21,541,599   9,144,358    142,735,515
contribution
                                                                         
Operating
expenses and
indirect                                                                  (42,963,350)
costs of net
revenues
Income from                                                               99,772,165
operations
                                                                         
Other income                                                              
(expenses):
Interest
income and
other                                                                     9,905,829
financial
gains
Interest
expense and
other                                                                     (3,648,733)
financial
results
Foreign
currency                                                                  2,353,005
gain
Other                                                                     73,894
income, net
Net income
before
income /                                                                  108,456,160
asset tax
expense
                                                                         
                                                                         
            Year Ended December 31, 2010
            Brazil        Argentina    Mexico       Venezuela    Other        Total
                                                                  Countries
                                                                         
Net revenues $ 122,825,076 $39,892,763 $ 18,950,450 $ 20,885,541 $14,161,883 $216,715,713
Direct costs (73,393,467)  (19,649,506) (11,723,168) (9,875,510)  (7,785,914)  (122,427,565)
Direct       49,431,609    20,243,257   7,227,282    11,010,031   6,375,969    94,288,148
contribution
                                                                         
Operating
expenses and
indirect                                                                  (19,689,585)
costs of net
revenues
Income from                                                               74,598,563
operations
                                                                         
Other income                                                              
(expenses):
Interest
income and
other                                                                     4,931,215
financial
gains
Interest
expense and
other                                                                     (7,601,671)
financial
results
Foreign
currency                                                                  (62,447)
loss
Other
expenses,                                                                 --
net
Net income
before
income /                                                                  $71,865,660
asset tax
expense

                                                                     
Financial
results of                                                            
reporting
segments
            Three Months Ended December 31, 2012
            Brazil       Argentina    Mexico      Venezuela   Other       Total
                                                               Countries
            (Unaudited)                                                                    
Net revenues $47,067,048 $ 25,713,148 $7,620,346 $           $6,550,285 $
                                                   16,803,819              103,754,646
Direct costs (26,395,391) (12,884,121) (3,745,018) (5,134,006) (2,890,020) (51,048,556)
Direct       20,671,657   12,829,027   3,875,328   11,669,813  3,660,265   52,706,090
contribution
                                                                     
Operating
expenses and
indirect                                                              (13,577,569)
costs of net
revenues
Income from                                                           39,128,521
operations
                                                                     
Other income                                                          
(expenses):
Interest
income and
other                                                                 2,880,600
financial
gains
Interest
expense and
other                                                                 (273,902)
financial
results
Foreign
currency                                                              489,094
loss
Other gains,                                                          31
net
Net income
before
income /                                                              $42,224,344
asset tax
expense
                                                                     
                                                                     
            Three Months Ended December 31, 2011
            Brazil       Argentina    Mexico      Venezuela   Other       Total
                                                               Countries
            (Unaudited)                                                                    
Net revenues $45,246,546 $ 17,914,864 $6,062,213 $           $5,464,328 $86,465,653
                                                   11,777,702
Direct costs (27,197,798) (7,618,197)  (3,590,393) (4,190,282) (2,816,636) (45,413,306)
Direct       18,048,748   10,296,667   2,471,820   7,587,420   2,647,692   41,052,347
contribution
                                                                     
Operating
expenses and
indirect                                                              (12,086,455)
costs of net
revenues
Income from                                                           28,965,891
operations
                                                                     
Other income                                                          
(expenses):
Interest
income and
other                                                                 2,868,565
financial
gains
Interest
expense and
other                                                                 (1,086,099)
financial
results
Foreign
currency                                                              272,183
gain
Other                                                                 (179,256)
losses, net
Net income
before
income /                                                              $30,841,284
asset tax
expense

Non-GAAP Financial Measures

To supplement the Company's condensed consolidated financial statements
presented in accordance with generally accepted accounting principles (GAAP),
MercadoLibre uses free cash flows, a non-GAAP measure.

This non-GAAP measure should not be considered in isolation or as a substitute
for measures of performance prepared in accordance with GAAP and may be
different from non-GAAP measures used by other companies. In addition, this
non-GAAP measure is not based on any comprehensive set of accounting rules or
principles. Non-GAAP measures have limitations in that they do not reflect all
of the amounts associated with MercadoLibre's results of operations as
determined in accordance with GAAP. This non-GAAP financial measure should
only be used to evaluate MercadoLibre's results of operations in conjunction
with the most comparable GAAP financial measures.

Reconciliation of this non-GAAP financial measure to the most comparable GAAP
financial measure can be found in the table included in this press release.

Non-GAAP financial measures are provided to enhance investors' overall
understanding of the Company's current financial performance. Specifically,
the Company believes that free cash flow provides useful information to both
management and investors by excluding payments for the acquisition of
property, equipment, of intangible assets and of businesses net of cash
acquired, that may not be indicative of the Company's core operating results.
In addition, we report free cash flows to investors because we believe that
the inclusion of this measure provides consistency in the Company's financial
reporting.

Free cash flow represents cash from operating activities less payment for the
acquisition of property, equipment and intangible assets and acquired
businesses net of cash acquired. MercadoLibre considers free cash flow to be a
liquidity measure that provides useful information to management and investors
about the amount of cash generated by the Company's operations after the
purchases of property, and equipment, of intangible assets and of acquired
businesses net of cash acquired. A limitation of the utility of free cash flow
as a measure of financial performance is that it does not represent the total
increase or decrease in the Company's cash balance for the period.

Reconciliation of Operating Cash Flows to Free Cash Flows

                                              Three Months Ended December 30,
                                              2012            2011
                                                             
                                                             
Net Cash provided by Operating Activities      $56.2         $27.1
                                                             
Payment for acquired businesses, net of cash   --            --
acquired
                                                             
Purchase of intangible assets                  (0.0)          (0.2)
                                                             
Purchases of property and equipment            (5.1)          (1.8)
                                                             
Free cash flows                               $51.1         $25.1

The table above may not total due to rounding.


CONTACT: MercadoLibre, Inc.
         Investor Relations
         investor@mercadolibre.com
         http://investor.mercadolibre.com

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