1. 7th Annual LatAm CEO Conference – Magazine Luiza
May, 16th and 17th

2. 2
 Overview of the Brazilian market
 Magazine Luiza

3. 3
Brazilian GDP has grown 13% annual rate over the last 8 years
Source: LCA, IBGE 2009 – Estimativas 2010 e 2011 LCA
+13%
2011E
4.143
2010E
3.250
2009
3.022
2008
3.032
2007
2.883
2006
2.718
2005
2.614
2004
1.769
2003
1.556
GDP (R$ Trillion)
GDP CAGR

4. 4
% working-age
population
11,7
12,3
11,5
9,8
10,0
9,3
7,9 8,1
6,7
6,0
0
0,5
1
1,5
2
2,5
3
5
6
7
8
9
10
11
12
13
14
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
The country has reached full employment recently
Source: MTE (Ministério do Trabalho e Emprego), IBGE
Unemployment rate (% of working age population) N° of formal jobs created
N° of jobs
created (MM)

5. 5
200
240
260
300
350
380
415
465
510
545
622
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Real income growth has helped to boost consumption in the internal market
Source: DIEESE (Depto. Intersindical de Estatísticas e Estudos Socioeconômicos), BACEN
Minimum Wage (R$)
Growth of 211% – 2012 over 2002

6. 6
Middle class corresponded to 49,3% of the total domicile in 2011
Class A
Class B
Class C
Class D
Class E
4,5 4,1
17,5 30,7
30,9
33,8
13,2
49,3
15,1
0,8
1998 2011
Social Class Distribution - % of total domiciles
New middle class represented 57 million domiciles in 2011
Source: IPC TARGET

7. 7
71,1
86,0
97,5
118,3
146,7
172,8
196,5
225,3
247,4
2003 2004 2005 2006 2007 2008 2009 2010 2011
Retail segment is usually responsible for the entrance of class C in the financial
service
1) Number of Private label cards – total population
Source: CETELEM (PesquisaObservador 2012, Dezembro 2011 – IPSOS) , ABECS (Associação Brasileira das Empresas de Cartão de Crédito e Serviços)
61%
37%
15%
39%
63%
85%
Class AB Class C Class DE
With access Without access
Account access Private Label cards (MM)1
CAGR: 16,9% annual rate

8. 8
607
733
936
1.227
1.414
1.706
2.030
2005 2006 2007 2008 2009 2010 2011
Consumer credit has been considered the turbine of growth with stable
compromised montly income with debt services
1) Total credit operations over GDP
Source: BACEN
Credit operations (R$ bn)
Compromised montly income
with debt services
%GDP
Total Operations
28% 31% 35% 40% 44% 45% 49%
17,6
18,6
17,6
18,5
19,6 19,4
22,2
2005 2006 2007 2008 2009 2010 2011
% debt services
1

9. 9
Healthier consumer credit when compared with other countries due to a
combination of longer duration and lower rates
1) Federal bank
Source: CAIXA ECONÔMICA FEDERAL
4 4
7
11 12
18
33
56
70
4 6
9
14
21 23
47
76
80
2003 2004 2005 2006 2007 2008 2009 2010 2011
Housing credit – Caixa Econômica Federal1 (R$ Bn)
Disbursed Contracted

10. 10
Households appliances (MM units)1 Electronics (MM units)2
Computers (MM units) Mobiles (MM units)
More houses and credit availability are an opportunity to increase sales of
durable goods
13,3
16,3
21,0 19,8
22,8
2007 2008 2009 2010 2011
1) Include: refrigerator, freezer, washing machine, tanquinho, stove, microwave, ar conditionar; 2) LCD, LED, Plasma, 3D, DVD, Home Theather, Mini system
Source: GFK Retail
19,9
22,0
19,8
22,0
25,6
2007 2008 2009 2010 2011
5,4
6,2 6,3
7,1
9,6
2007 2008 2009 2010 2011
30,8
42,9 41,4
47,8
57,2
2007 2008 2009 2010 2011

11. 11
Despite the growth, middle class penetration is still low
12
13
35
68
50
93
Air conditioner
Flat TV
Smartphone
Washing Machine
Computer
Refrigerator (with freezer)
Percentage (%)
Total Population
6
7
19
61
39
37
Class C
Source: PNAD 2009 (Pesquisa Nacional por amostra de domicílios), IBGE,
1)Nielsen - Consumidor Móvel 2011
1

12. 12
 Overview of the Brazilian market
 Magazine Luiza

13. 13
Growing for more than 50 years in the Brazilian Retail Market
Strong corporate culture,
focus on valuing people
and customers
Company
Financial Information –
1Q12
Focus on the best
product mix
Pioneer in the retail
financial service
Magazine Luiza
First social e-commerce
in Brazil
Multiple growth
opportunities
Multi-channel model
under the same brand

14. 14
Corporate structure
1 2
(1) JV with Itaú Unibanco
(2) JV with Cardif
(3) Corporate integration of both companies concluded
100%
50%
40.55%
100% 100%
3
3

15. 15
Ownership structure
Pre – IPO Post – IPO
75,4%
5,6%
6,7%
12,4%
LTD Administração e Part. S.A.
Wagner Garcia Part. S.A.
Founding Family Members
Capital Int’l Inc. (Private Equity Fund)
2,5%
2,7%
4,5%
60,6%
29,7%
Capital Int’l Inc. (Private Equity Fund)
Founding Family Members
Wagner Garcia Part. S.A.
LTD Administração e Part. S.A.
Free Float
186,494,467 shares
150,000,000 shares

16. 16
Name / Post
Years with the
Company
Experience
(years)
Shareholding by CIPEF - private equity fund of the Capital Group
Established corporate governance
Executives with ample experience in the Brazilian retail industry
Experienced executives with strong corporate governance
 Controlling shareholders with more than 50 years in the
industry
 Board of Directors with independent members since 2005
 Audit Committee led by an independent member
 Financial statements audited for the past 10 years by a
“Big Four” firm
 Senior Management: retention plan (stock options)
 CIPEF
− Five private equity funds with more than US$2.5
billion invested since 1997
 A successful history of investments in Brazil and in other
emerging economies
− Abril S.A., Arcos Dorados, Constellation Overseas
and Grupo IBMEC
Luiza Helena Trajano
President
>40 >40
Marcelo Silva
CEO
3 34
Roberto Bellissimo
CFO
>10 >10
Fabrício Garcia
Chief Commercial Officer
>10 >10
Frederico Trajano
Chief Sales and Marketing Officer
>10 >10
Isabel Bonfim
Chief Management and Control Officer >30 >30
Marcelo Barp (1)
Luizacred
4 9
Luis Felipe (1)
Luizaseg
6 >20
Note 1. Years of experience in the financial services industry

17. 17
Proven history of strong organic growth and successful aquisition even
throughout adverse economic scenarios
0,5 0,6 0,7 0,9 1,4 1,9 2,2 2,6
3,2
3,8
5,3
7,1
96 111 127 174
253
351 346
391
444 455
604
728
-300
-100
100
300
500
700
900
0
2
4
6
8
10
12
14
16
18
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Upstate SP:
+5 stores
Rede Wanel
September, 11th
Currency crisis –
President Lula’s
election
Lojas Líder
Campinas:
+20 stores
Rio Grande Sul
+51 stores
Madol, Killar
Santa Catarina:
+100 stores
São Paulo (Capital):
+46 stores
Nordeste:
+136 stores
Beginning of
Sub-prime crisis
Lehman
Brothers’
bankruptcy
PIGS’ crisis
Gross Revenue – Retail Operation (R$ Billion) Number of Stores
Baú:
+ 104 stores

18. 18
Broad geographic footprint including in the Northeast of Brazil
Distribution Center (8)
States with Stores
% of stores per region (2011)
Cabedelo
Simões Filho
Contagem
Ribeirão Preto
Loureira
Ibiporã
Navegantes
Caxias
Geographic footprint
31%
24%
30%
South
2%
Mid-West
20%
Northeast
48%
Southeast
728 stores
Gross Revenue evolution – Northeast
R$ MM
651,8
992,1
2010 2011
52%

19. 19
Ranked the 23th most valuable brand in Brazil
1) Source: Ranking Istoé Dinheiro, Milward Brown/Brandanalytics
1. Petrobras
2. Bradesco
3. Itaú
4. SKOL
5. Banco do Brasil
First 5
most
valuable
21 – 35 most valuable
36 – 50 most valuable brands
6 – 20 most valuable
6. Natura
7. Brahma
8. Vale
9. Sadia
10. Antartica
11. Vivo
12. Perdigão
13. Lojas Americanas
14. Bohemia
15. Ipiranga
16. OI
17. Casas Bahia
18. Totvs
19. TAM
20. Cielo
21. Multiplus
22. Porto Seguro
23. Magazine Luiza
24. GOL
25. Redecard
26. Net
27. Extra
28. BM&F
29. Banrisul
30. Hering
36. Anhanguera
37. Amil
38. Lojas Renner
39. MRV
40. Marisa
31. Iguatemi
32. Odontoprev
33. Pão de Açúcar
34. União
35. Embratel
41. Durafloor
42. Arezzo
43. Gerdau
44. Drogasil
45. Swift
46. Havaianas
47. Deca
48. PDG
49. Localiza
50. Riachuelo
Ranking published on Istoé Dinheiro Magazine – May 2012
Magazine Luiza brand values USD 479 MM

20. 20
Growing for more than 50 years in the Brazilian Retail Market
Strong corporate culture,
focus on valuing people
and customers
Company
Financial Information –
1Q12
Focus on the best
product mix
Pioneer in the retail
financial service
Magazine Luiza
First social e-commerce
in Brazil
Multiple growth
opportunities
Multi-channel model
under the same brand

21. 21
High influence of service and credit on
purchasing decision
13 years among the Best Places to Work
 Communication: Luiza TV, Radio Luiza, Town Halls
 Transparency: Availability of management information
and frequently alingment – Monthly store P&L avaliable
on the internet
 Empowerment: Sales staff and managers have flexibility
to negotiate sales conditions within a range
 Compensation: based on gross profit, financial margin and
sales
Strong corporate culture assisted by a sales model that is supported by
enthusiastic teams
Price
39,8%
37,0%
Service/
Credit
8,4%
Product Variety
4,5%
Punctuality of Delivery
3,2%
Offered brands
7,1%
Others

22. 22
Exceptional relationship management drives customer loyalty
30 million customers registered
More than 10 years of purchase and sales data
 CRM tool available to all stores - Boomerang
 Telemarketing during sales staff downtime (7,3
million calls on 20112)
Statistical models of purchasing behavior and
price
CRM Tool
Only program in the sector
More than 1 million clients
Golden Day: stores opened exclusively for
program clients
Golden clients usually spend 55% more than
regular clients
Golden Clients
1) Only Magazine Luiza stores

23. 23
Client database mainly composed by clients from classes CDE
Million of clients – South, Southeast and Mid-West1
1) Do not include Lojas do Baú’s client database
+20%
2011
2010
2009
2008
2007
Class CDE
Class AB
14%
10%
10%
90%
90%
86%
86%
14%
14%
86%
10,8
13,2
16,0
18,9
22,2

24. 24
Growing for more than 50 years in the Brazilian Retail Market
Strong corporate culture,
focus on valuing people
and customers
Company
Financial Information –
1Q12
Focus on the best
product mix
Pioneer in the retail
financial service
Magazine Luiza
First social e-commerce
in Brazil
Multiple growth
opportunities
Multi-channel model
under the same brand

25. 25
Unique retail chain truly multi-channel in Brazil
 Free-standing stores or in
malls
 Physical showroom and in-
store stock
 Size: 700-1.000 m2
 Small or mid-sized cities
 Direct delivery
 No physical showroom or
stock
 Size: 130 m2
 Sales per m2 is double
conventional store
 27.000 total SKU s
 More than 10 million
unique visitors
 75% growth in 2010
 Same product mix as the
Internet
 Dedicates sales team
624 stores in 16 states
Multi-channel strategy meets customer
demands
103 stores in 4 states
More than 70MM page
views

26. 26
Gross revenue growth for Conventional and Virtual stores...
CAGR
Gross Revenue (R$ Bn)
+29%
2011
6,3
6,0
0,3
2010
4,8
4,5
0,2
2009
3,5
3,3
0,2
2008
3,0
2,8
0,2
Conventional Stores
Virtual Stores

27. 27
... and e-commerce above the market average
CAGR
Gross Revenue (R$ MM)
+51%
2008
821,1
2009
568,7
2010
324,9
2011
239,5

28. 28
Growing for more than 50 years in the Brazilian Retail Market
Strong corporate culture,
focus on valuing people
and customers
Company
Financial Information –
1Q12
Focus on the best
product mix
Pioneer in the retail
financial service
Magazine Luiza
First social e-commerce
in Brazil
Multiple growth
opportunities
Multi-channel model
under the same brand

29. 29
CDC Third-party Cards Cash Sales/Down Payment
Luiza Card
Pioneer in the financial services through Luizacred...
• JV with Itaú-Unibanco (50%/50%)
since October 2001
• Important tool to enhance
customer loyalty
• Itaú Unibanco: credit and funding
management
• Magazine Luiza: sales force
management and customer
acquisition process
Comments
50% of sales are made through Luizacred
49%
30%
17% 13% 13%
1%
19%
34% 39% 35%
25% 24%
27% 26% 28%
25% 27% 22% 22% 24%
2007 2008 2009 2010 2011

30. 30
…and Luizaseg Joint Ventures
Luizaseg: significant growth in insurance product sales
• JV (50%/50%) with Cardif,
established in 2006:
 Extended warranty
Broker for life, home, health,
dental and card insurance
Guaranteed exchange
Comments
Products

31. 31
Growing for more than 50 years in the Brazilian Retail Market
Strong corporate culture,
focus on valuing people
and customers
Company
Financial Information –
1Q12
Focus on the best
product mix
Pioneer in the retail
financial service
Magazine Luiza
First social e-commerce
in Brazil
Multiple growth
opportunities
Multi-channel model
under the same brand

32. 32
Focus on the best product mix...
Mix
% of sales, 2011
31%
24%
20%
15%
10%
Household
Appliances
Sound & Image
Technology
Furniture & Kitchen
Appliance
Others

33. 33
... to support changes in consumer behavior (1/4)
Television
South, Southeast and Mid-west
Units sold (%)
91%
2011
9%
2007
93%
7%
1) LCD, Plasma, LED, 3D
Television
Northeast
Units sold (%)
CRT
Flat TV 1
R$ 783 R$ 1.406
Weighed average ticket
R$ 636 R$ 1.007
67%
2011
33%
2007
95%
5%

34. 34
... to support changes in consumer behavior (2/4)
Computer
South, Southeast and Mid-west
Units sold (%)
84%
30%
2011
70%
2007
16%
Computer
Northeast
Units sold (%)
Notebook
Desktop
R$ 1.364 R$ 1.124
Weighed average ticket
R$ 909 R$ 818
88%
47%
2011
53%
2007
12%

35. 35
... to support changes in consumer behavior (3/4)
Washing Machine
South, Southeast and Mid-west
Units sold (%)
52%
73%
2011
27%
2007
48%
Washing Machine
Northeast
Units sold (%)
“Tanquinho”
Washing Machine
R$ 701 R$ 884
Weighed average ticket
R$ 581 R$ 586
43% 48%
2011
52%
2007
57%

36. 36
... to support changes in consumer behavior (4/4)
Refrigerator
South, Southeast and Mid-west
Units sold (%)
40%
20%
2011
80%
2007
60%
Refrigerator
Northeast
Units sold (%)
With freezer
Without freezer
R$ 1.323 R$ 1.501
Weighed average ticket
R$ 1.139 R$ 1.142
64%
35%
2011
65%
2007
36%

37. 37
Evolution of plans and interest rates also supported those changes
TV LCD 32" Notebook Washing Machine
Year 2007 2011 2007 2011 2007 2011
Price (R$) 2.947 1.187 2.002 1.246 1.159 1.046
Installments (R$) 293,00 99,36 199,45 104,30 115,47 87,56
Installment/Class C
Minimum Wage
25,7% 6,1% 17,5% 6,4% 10,1% 5,4%
1) Analysis: March to June 2007; April 2011
Source: Flyer Magazine Luiza
Interest Rate 5,50%
Form 0+15
2007
2,99%
2011
Minimum Wage (R$) 380,00 545,00
Main changes
• Interest rates became more attractive
through Luiza Card financing
• Purchase power increased while risk
decreased
Class C Minimum Wage (R$) 1.140 1.635

38. 38
Growing for more than 50 years in the Brazilian Retail Market
Strong corporate culture,
focus on valuing people
and customers
Company
Financial Information –
1Q12
Focus on the best
product mix
Pioneer in the retail
financial service
Magazine Luiza
First social e-commerce
in Brazil
Multiple growth
opportunities
Multi-channel model
under the same brand

39. 39
Magazine Você: leading our multi-channel strategy to the highest degree
•Brazil: fourth-largest market
– Revenue (2010): R$ 26 bn
•2,74 million direct sellers
Source: Ibope, Ebit, Forrester research, Magazine Luiza
• 23 million buyers
• 46,5% from Class C
• Revenue (2011): R$ 20 bn
• 85% claim to be in a social
network
– Facebook: 30 MM users
–Orkut : 29MM users
•The user creates its own store with up to 60 products from Magazine Luiza website (magazineluiza.com.br) and
share the products with its friendsthrough Facebook and Orkut
• Comission goes from 2,5% to 4,5% per product sold in the store
• No initial investment is required
•Magazine Luiza is responsible for logistics and payment
Direct Sales E-commerce in Brazil Social Networks

40. 40
Growing for more than 50 years in the Brazilian Retail Market
Strong corporate culture,
focus on valuing people
and customers
Company
Financial Information –
1Q12
Focus on the best
product mix
Pioneer in the retail
financial service
Magazine Luiza
First social e-commerce
in Brazil
Multiple growth
opportunities
Multi-channel model
under the same brand

41. 41
Source: IBGE, Company
Excellent organic growth potential…
South
109
Southeast
Mid-West
Northeast
North
 Multi-channel model and
large geographic footprint
gives Magazine Luiza an
advantage in identifying
new stores opportunities
 240 priority cities for new
Magazine Luiza stores
 Together, priority cities
would support more than
400 new stores
− 30% will be opened
with the Virtual Store
Concept
18
56
30
28

42. 42
… and multiple growth opportunities throughout Brazil
Organic Growth
• Increase presence where
currently operating,
especially the northeast
and Greater São Paulo
• 39% of the stores have
not reached their
maturity
• Remodel to increase
same store sales
Industry Consolidation
• M&A potential with high
industry fragmentation –
more than 50% of the
industry is in the hands of
small companies
Relevant Growth of Virtual
Channels
• Amount of virtual store and
internet sales above market
growth
Increase Share of Financial
Products
• Only 4.3 million of
current 30 million
customers have a Luiza
credit card – significant
growth potential
• Penetration of Luizacred
in Lojas Maia sales

43. 43
Growing for more than 50 years in the Brazilian Retail Market
Strong corporate culture,
focus on valuing people
and customers
Company
Financial Information –
1Q12
Focus on the best
product mix
Pioneer in the retail
financial service
Magazine Luiza
First social e-commerce
in Brazil
Multiple growth
opportunities
Multi-channel model
under the same brand

44. 44
 Highlights of 1Q12 and Expectations for the Next Quarters
 Financial Performance
 Operational Performance

45. 45
Highlights of 1Q12
Initiatives and Achievements Impacts on Financial Results
 Significant sales growth versus 1Q11
• Sales growth of 25.7%
• Same store sales growth of 15.9%
• E-commerce growth of 42.8%
 Sustainable growth
• Gross margin in line with projected level
• Financial discipline (sales with no interest)
• Results were in line with the projection for 1Q12
 Conclusion of Lojas do Baú integration
• System integration concluded
• Stores’ maturation process has just started
• Capture of synergies initiated
 Continuation of Lojas Maia integration process
• Corporate integration – April 30th
• System integration scheduled for 2Q12
 Rationalization of costs and expenses
• Rationalization of costs and expenses throughout
the company – most initiatives were already
implemented in January and February 2012,
benefits for upcoming quarters
 Extraordinary expenses: R$33.5 million
• Magazine Luiza and Baú’ store: R$20.3 million
• Maia’ stores: R$13.2 million
 Investments in infrastructure and expansion
• 7 new stores inaugurated
• 5 Baú’ store were closed
• Total investments: R$43.2 million
o Logistics: R$12.5 million (Louveira’s DC
expansion concluded)
 Luizacred results
• Maintenance of conservative approach in the 1Q12
• Reduction of credit approval rate
• Participation in the rationalization of costs and
expenses project
 Magazine Luiza results
• The majority of non-recurring expenses planned for
2012 were incurred in January and February
• March 2012: operational expenses were
significantly lower and below projection. generating
positive results for the Company

46. 46
Expectations for the next quarters
Significant Sales Growth
 Sustainable growth:
• Maturation of new stores
• Internet
• Positive outlook of the Brazilian market
(noteworthy reduction in the basic interest rate
to its lowest level ever)
Lojas Maia Integration Process
 System integration – expected to 3Q12
 Fully integrated management – 4Q12
• Dilution of administrative and logistics
expenses
• Working capital and price management
contributing to the increase of Lojas Maia’s
gross margin.
Results – Luizacred
 Stability of credit approval rate
 Increase in its profitability during the 2S12
 Portfolio’s maturation and expenses’ dilution
 Dilution of operating expenses and
proportional reduction of provisions. thanks to
the improved quality of the overdue loan
portfolio
Results – Magazine Luiza
 Continuing with the rationalization of costs and
expenses project
 Improvements of profitability – quarter versus
quarter
 Better productivity indicators and significantly
positive results in 2012.
1
2
3
4

47. 47
 Highlights of 1Q12 and Expectations for the Next Quarters
 Financial Performance
 Operational Performance

48. 48
Gross Revenue (R$ billion)
Retail
Consolidated
1.1
% of growth over the same quarter of 2011
1Q12
2.0
2011
7.1
4Q11
2.1
3Q11
1.8
2Q11
1.6
1Q11
1.6
2.1
1Q12
2011
7.6
4Q11
2.3
3Q11
1.9
2Q11
1.7
1Q11
1.7
• Gross revenue of the Retail segment increased
25.0% versus 1Q11
• Same store sales growth of 15.9% driven by:
— Stores maturation
— “Fantastic Sales”
• Increase in the number of stores: from 604 in
the end of 1Q11 to 730 stores in the end of
1Q12
• Consolidated gross revenue increased 25.7%
versus o 1Q11:
— Growth of the retail segment
— Growth of the consumer financial service
revenue of 34.7% (influenced by service’s
revenues and personal loans – recorded
under Luizacred)
Comments
25.0%
25.7%

49. 49
Gross Revenue – Internet (R$ million)
1Q12
248.5
2011
821.1
4Q11
250.9
3Q11
214.4
2Q11
181.7
1Q11
174.0
• 42.8% increase over 1Q11. boosted by:
— Multi-channel approach: infrastructure
shared with other channels
— Increase in the number of SKUs (long tail)
and improvements in product mix
— Innovation in content
— Investments in systems and logistics to
guarantee the best customer service
(Magazine Luiza is considered diamond by
e-bit)
Comments
Internet
42.8%
% of growth over the same quarter of 2011

50. 50
1Q12
0.6
2011
2.1
4Q11
0.7
3Q11
0.5
2Q11
0.5
1Q11
0.5
% of growth over the same quarter of 2011
Net Revenue and Gross Profit (R$ billion)
33.2% 32.8% 32.7% 34.7% 33.4%
Gross Margin (%)
1Q12
1.8
2011
6.4
4Q11
1.9
3Q11
1.6
2Q11
1.5
1Q11
1.4
• Strong growth due to the increase of the gross
revenues (retail segment and consumer financial
service)
• Net revenue growth outpaced gross revenue
growth. basically due to the higher volume of
products subject to tax substitution. which is
booked under COGS
Comments
Net Revenue - Consolidated
27.5%
• Retail:
— Strong grow due to Fantastic Sales in January
— Increase in the Internet participation
— Integration of Baú stores
— Low gross margin at Lojas Maia:
o Clearance
• Consumer Financing:
— Reduction of CDI rate
Comments
31.8%
Gross Profit - Consolidated
22.4%

51. 51
Operating Expenses – Consolidated (R$ million)
Operating Expenses (R$ MM)
• SG&A Expenses:
— Impact of the extraordinary
expenses with new stores.
integration of Baú. and review of
people cost expenditures
— Captures of synergies initiated as a
result of office integration (Baú’
stores and expenses rationalization
• Provisions:
— Robust provisions (Luizacred
conservatism)
• Other operational expenses:
— Impact of extraordinary expenses
and personal loans
• Extraordinary Expenses:
— R$33.5 million. being R$20.3 million
at Magazine Luiza and Baú and
R$13.2 million at Maia
Comments
26.2% 1.0%
% Net Revenue
26.3% 5.0%
385.8
14.4
371.4
Total
Provisions &
other oper.
revenues
SG&A
1Q11
565.6
90.6
475.0
Total
Provisions &
other oper.
Revenues
SG&A
1Q12
31.3%
27.2%

52. 52
Financial Expenses – Consolidated (R$ million)
Financial Expenses (R$ MM)
% Net Revenue
• Financial Results:
— Financial expenses declined from
3.2% of net revenue in 1Q11 to 2.2%
in 1Q12. impacted by the reduction
in net debt and loer CDI rate in the
period
— Stable pre-paid Luiza card
receivables: R$6.2 million at 1Q11
and 1Q12. (0.3% consolidated net
revenue)
— Minimaze interest-free sales on
Luiza card. as well as limit the share
of third-party credit cards in total
sales. encouraging Luizacred sales
Comments
1Q12
39.2
1Q11
45.7
Financial Expenses
3.2% 2.2%

53. 53
EBITDA and Adjusted EBITDA (R$ million)
Margin EBITDA (%)
• EBITDA impacted by:
— Gross margin reduction at Lojas Maia
— Extraordinary expenses including pre
operational expenses of new stores and
integration process
— Increase in provisions for loan losses
Comments
1Q12
9.3
2011
300.6
4Q11
52.5
3Q11
92.2
2Q11
71.9
1Q11
84.0
5.9% 4.9% 5.8% 2.7% 4.7%
EBITDA
0.5%
Adjusted EBITDA
42.8
26.0
7.5
Adjusted
EBITDA
Deferred
Revenues
0.0
Extraord.
Expenses
Extraord.
Revenues
Current
9.3
1Q11
0.5% 2.4%
1Q12
78.7
84.0
Adjusted
EBITDA
Deferred
Revenues
5.4
Extraord.
Expenses
0.0
Extraord.
Revenues
0.0
Current
5.9% 5.6%

54. 54
Adjusted Net Income
12.3
5.4 8.7
Adjusted
Income
Tax credits
not recorded
0.0
Taxes
1.8
Extraordinary
Result
Net Income
Net Income and Adjusted Net Income (R$ million)
Adjusted
Income
-10.3
Tax credits
not recorded
8.3
Taxes
-11.4
Extraordinary
Result
33.5
Net Income
-40.7
1Q11 1Q12
0.9% 0.6% -2.3% -0.6%
Net Income
1Q12
-40.7
2011
11.7
4Q11
16.9
3Q11
11.7
2Q11
4.6
1Q11
12.3
0.9% 0.3% 0.7% -0.9% 0.2%
• Net income impacted by:
— Gross margin reduction at Lojas Maia
— Extraordinary expenses including pre
operational expenses of new stores and
integration process
— Deferred taxes were not accountable due
to Lojas Maia losses (R$8.3 million)
-2.3%
Net Margin (%)
• Net income impacted by:
— Gross margin reduction at Lojas Maia
— Extraordinary expenses including pre
operational expenses of new stores and
integration process
— Deferred taxes were not accountable due
to Lojas Maia losses (R$8.3 million)
Comments

55. 55
Investiments (R$ million)
11.5
28.9
18.4
10.0
15.1
19.3
37.8
11.0
6.0
7.5
7.5
25.1
6.5
2.3
15.4
1Q12
43.2
7.3
4Q11
97.6
5.8
3Q11
50.2
11.8
2Q11
40.0
1.9
1Q11
22.5
4.2
• 7 new stores inaugurated (4
conventional stores in the Northeast
and 3 virtual stores in Paraná)
• Other investments include the
conclusion of the expansion of the
Louveira distribution center and other
investments in logistics. which totaled
R$12.5 million in 1Q12.
Comments
Investiments
Others
Infrastructure
Store Refit
New Stores

56. 56
 Highlights of 1Q12 and Expectations for the Next Quarters
 Financial Performance
 Operational Performance

57. 57
Operational Performance – Stores
Number of Stores (unit) Same Store Sales Growth (%)
67 69
69
103 106
1
1
1
1
1Q12
730
623
1
4Q11
728
624
3Q11
684
614
2Q11
613
543
1Q11
604
536
Conventional Stores
Virtual Stores
Site
1Q11
54.7%
25.6%
21.7%
1Q12
25.0%
15.9%
12.6%
Average Age – Stores
122
More than 3 years
447
2 to 3 years
11
1 to 2 years
150
Up to 1 year
+ 126 stores
Same Stores Sale Growth - Physical Stores
Same Store Sales Growth (includes e-commerce)
Total Retail Growth

58. 58
Operational Performance – Luizacred
Financed Mix Sales (%) Luizacred’s Revenue (R$ MM)
237
715
127
1Q12
+37%
59
1,395
68
486
1,911
1Q11
1,141
475
Luiza Card - Inside Luiza Stores
Luiza Card - Outside Luiza Stores
CDC
Personal Loan
10%
14%
32%
30%
26%
32%
1Q11
100%
33%
1Q12
24%
100%
Cash Sales / Down payment
Luiza Card
Third Party Credit Card
CDC

59. 59
Operational Performance – Portfolio’s composition
Luiza Card – Total Credit Card Base (MM) Portfolio (R$ MM)
4.3
4.4
4.2
4.0
3.5
1Q12
4Q11
3Q11
2Q11
1Q11
371
537
+38%
1Q12
3,334
2,656
141
1Q11
2,424
2,053
Personal Loans CDC Credit card

60. 60
Portfolio Overdue Mar 2012 Dec 2011 Sep 2011 Jun 2011 Mar 2011
Total Portfolio (R$ MM) 3,334.1 100.0% 3,334.2 100.0% 3,011.7 100.0% 2,668.3 100.0% 2,424.2 100.0%
000 to 014 days 2,754.4 82.6% 2,773.8 83.2% 2,478.2 82.3% 2,155.4 80.8% 1,890.1 78.0%
015 a 030 days 52.9 1.6% 43.2 1.3% 34.2 1.1% 78.8 3.0% 96.6 4.0%
031 a 060 days 47.8 1.4% 39.5 1.2% 36.2 1.2% 51.9 1.9% 59.7 2.5%
061 a 090 days 56.8 1.7% 64.4 1.9% 52.7 1.8% 48.4 1.8% 63.7 2.6%
091 a 120 days 46.5 1.4% 53.2 1.6% 54.0 1.8% 45.3 1.7% 66.2 2.7%
121 a 150 days 44.3 1.3% 46.4 1.4% 48.8 1.6% 47.3 1.8% 51.6 2.1%
151 a 180 days 54.4 1.6% 41.9 1.3% 51.8 1.7% 51.2 1.9% 33.5 1.4%
180 a 360 days 277.1 8.3% 271.8 8.2% 255.7 8.5% 190.0 7.1% 162.8 6.7%
Overdue from 15-90 days 157.5 4.7% 147.0 4.4% 123.2 4.1% 179.1 6.7% 219.9 9.1%
Overdue above 90 days 422.2 12.7% 413.3 12.4% 410.3 13.6% 333.8 12.5% 314.2 13.0%
Total Overdue 579.7 17.4% 560.4 16.8% 533.5 17.7% 512.9 19.2% 534.1 22.0%
Allowance for doubtful
accounts in IFRS 467.5 14.0% 469.5 14.1% 455.7 15.1% 372.9 14.0% 333.4 13.8%
Coverage (%) 111% 114% 111% 112% 106%
Luizacred Portfolio (R$ million)

61. 61
Investor Relations
ri@magazineluiza.com.br
www.magazineluiza.com.br/ir
Any statement made in this presentation referring to the Company’s business outlook. projections and financial and operating goals represent
beliefs. expectations about the future of the business. as well as assumptions of Magazine Luiza’s management and are solely based on
information currently available to the Company. Future considerations are not a guarantee of performance. These involve risks. uncertainties and
assumptions since they refer to forward-looking events and. therefore depend on circumstances that may not occur. These forward-looking
statements depend substantially on the approvals and other necessary procedures for the projects. market conditions. and performance of the
Brazilian economy. the sector and international markets and hence are subject to change without prior notice. Thus. it is important to understand
that such changes in conditions. as well as other operating factors may affect the Company’s future results and lead to outcomes that may be
materially different from those expressed in such future considerations. This presentation also includes accounting data and non-accounting data
such as operating. pro forma financial data and projections based on the Management’s expectations. Non-accounting data has not been
reviewed by the Company’s independent auditors.
Legal Disclaimer

62. 7th Annual LatAm CEO Conference – Magazine Luiza
May, 16th and 17th