85.4 million Items Sold, up 38.8%,

85.5 million Total Payment Transactions, up 64.0%

Net Revenues of $335.4 million, up 43.7% on an FX neutral basis

BUENOS AIRES, Argentina, Aug. 08, 2018 (GLOBE NEWSWIRE) -- MercadoLibre, Inc. (Nasdaq: MELI) ( http://www.mercadolibre.com ), Latin America's leading e-commerce technology company, today reported financial results for the quarter ended June 30, 2018.

Pedro Arnt, Chief Financial Officer of MercadoLibre, Inc., commented, “The outlook for our industry is as positive as ever, and our investment thesis remains intact. The internet is rapidly becoming a driving force that is increasing the pace of modernization in Latin America. This modernization presents us with the opportunity to turn a history of underdeveloped infrastructure in the areas of retail and banking from a disadvantage into an advantage, as it allows for innovation to flourish unencumbered by existing legacy players.”

Second Quarter 2018 Business Highlights

-- Gross merchandise volume again surpassed $3 billion, reaching $3.1 billion, a 15.2% year-over-year increase in USD, and a 35.9% year-over-year increase on an FX neutral basis, representing the fifth consecutive quarter of growth. -- Items sold increased for the second consecutive quarter to 85.4 million, a 38.8% year-over-year increase, delivering solid growth. -- Unique buyers grew 16.0% year-over-year versus 28.0% in the first quarter. This declining growth rate is attributable primarily to the price increases from our major postal partner, and the May truckers strike that lasted ten days and had a negative impact on e-commerce in Brazil. This deceleration in unique buyers growth in Brazil was partially offset by unique buyer growth rates in Mexico, Colombia, Chile and Argentina, where growth rates in unique buyers exceeded 20%. -- Live listings offered on Mercado Libre’s marketplace grew to 154.8 million in the second quarter of 2018, a 56.4% year-over-year increase, surpassing for the first time ever the 150 million mark. -- We continue to transition to being a mobile first company, as mobile gross merchandize volume “GMV” penetration grew 28.1% year-over-year reaching 55.5% mobile penetration. -- Items shipped through MercadoEnvíos reached 52.8 million, a 58.1% year-over-year increase, driven primarily by increasing our free shipping options, strong marketing of our loyalty program and customer acquisition initiatives. Items shipped in Argentina, Mexico, Chile and Colombia were highlights of the quarter, growing 73%, 135%, 440%, and 166% respectively year-over-year. -- Total payment volume through MercadoPago reached $4.4 billion, a year-over-year increase of 40.4% in USD and 66.3% on an FX neutral basis. Total payment transactions increased 64.1% year-over-year, totaling 85.5 million for the quarter. -- We continue to successfully execute off-platform payments efforts (both online and offline) though merchant services, mPos, and mobile wallet businesses. On a consolidated basis, off-platform total payment volume grew 96.7% year-over-year in USD and 142.4% on an FX neutral basis. -- Our mobile-point-of-sale business quickly becoming one of our fastest growing non-marketplace business units, representing 43.3% of total off-platform payment volume for the quarter.

Adoption of ASC 606

-- Effective January 1, 2018, the Company adopted ASC 606, Revenue from Contracts with Customers related to revenue recognition (“ASC 606”) issued by the Financial Accounting Standards Board (“FASB”). The Company has adopted ASC 606 using the full retrospective transition method and has accordingly revised its consolidated financial statements for the year ended December 31, 2017, and applicable interim periods within the year ended December 31, 2017, as if ASC 606 had been effective for those periods. Because the Company did not offer free shipping in 2016, net revenue for that year does not need to be recast. -- As a result of adopting ASC 606, the Company must present net revenue net of amounts paid in connection with the Company’s free shipping initiative rather than including these amounts in the cost of net sales, as previously recorded. For the three-month period ended June 30, 2018 the Company incurred $97 million of shipping subsidies that have been netted from revenues. -- As a result of adopting ASC 606, our net revenues for the periods indicated below have been recast as presented below. Our adoption of 606 does not affect our operating or net income/loss.

In millions ---------------------------------------------- Gross H1 2017* H1 2018** Q2 2017* Q2 2018** billings $ 590.5 $ 865.5 $ 316.5 $ 432.0 In millions ---------------------------------------------- Adjustments H1 2017* H1 2018** Q2 2017* Q2 2018** (Decrease) $ 36.9 $ 209.2 $ 32.6 $ 96.6 In millions ---------------------------------------------- Net H1 2017* H1 2018** Q2 2017* Q2 2018** Revenues $ 553.6 $ 656.4 $ 283.9 $ 335.4 *As Recast **As Reported (*) The table above may not total due to rounding.

The tables below present our gross billing and amounts paid by us in connection with our free shipping service.

In millions ------------------------------------------------- H1 2017 H1 2018 Q2 2017 Q2 2018 Brazil $ 339.8 $ 546.8 $ 180.1 $ 270.5 Argentina $ 159.4 $ 211.9 $ 88.0 $ 105.9 Gross billings Mexico $ 35.7 $ 60.7 $ 20.2 $ 31.3 Venezuela $ 28.6 $ — $ 14.2 $ — Others $ 26.9 $ 46.1 $ 14.1 $ 24.3 In millions ------------------------------------------------- Adjustments H1 2017 H1 2018 Q2 2017 Q2 2018 (Decrease) Brazil $ 22.9 $ 166.8 $ 22.9 $ 74.7 Argentina $ — $ 9.9 $ — $ 5.7 Mexico $ 13.6 $ 26.1 $ 9.4 $ 13.8 Venezuela $ — $ — $ — $ — Others $ 0.4 $ 6.4 $ 0.4 $ 2.4 In millions ------------------------------------------------- H1 2017* H1 2018** Q2 2017* Q2 2018** Net Revenues Brazil $ 317.0 $ 380.0 $ 157.2 $ 195.8 Argentina $ 159.4 $ 202.0 $ 88.0 $ 100.1 Mexico $ 22.1 $ 34.6 $ 10.8 $ 17.5 Venezuela $ 28.6 $ — $ 14.2 $ — Others $ 26.5 $ 39.7 $ 13.8 $ 21.9 *As Recast **As Reported (*) The table above may not total due to rounding.

Second Quarter 2018 Financial Highlights

-- Net revenues for the second quarter grew to $335.4 million, a year-over-year increase of 18.1% in USD and 43.7% on an FX neutral basis. -- Enhanced marketplace revenues decreased 13.2% year-over-year in USD, and 0.4% on an FX neutral basis, while non-marketplace revenues increased 72.5% year-over-year in USD and 107.5% on an FX neutral basis. -- Gross profit was $159.7 million with a margin of 47.6%, compared to 60.4% in the second quarter of 2017. Most of the gross margin compression is attributed to an increase in free shipping subsidies. -- Total operating expenses were $188.0 million, up 32.8% year-over-year. As a percentage of revenues, operating expenses were 56.1%, as compared to 49.9% during the second quarter of 2017. -- Loss from operations was $28.2 million, down 194.1% year-over-year. As a percentage of revenues, loss from operations was 8.4%, as compared to a gain of 10.6% during the second quarter of 2017. -- Interest income was $9.9 million, a 7.0% decrease year-over-year as a result of lower interest rates in Brazil as well as a lower float in Brazil and Argentina. -- The company incurred $13.2 million in financial expenses in the second quarter of 2018 mostly related to working capital funding for the payments businesses and to interest accrual on our convertible bond issued in 2014. -- Net loss before taxes was $19.0 million, down 252.6% year-over-year. -- Income tax gain was $7.7 million during the second quarter, yielding a blended tax rate for the period of 40.6%. -- Net loss as reported for the second quarter was $11.3 million, resulting in basic net loss per share of $0.25. -- Operating cash flow was $144.2 million. Net decrease in cash, restricted cash and cash equivalents was $173.6 million in during the second quarter of 2018.

The following table summarizes certain key performance metrics for the three months ended June 30th, 2018 and 2017.

Six-months Periods Three-month Periods Ended Ended June 30, June 30, ----------------------- - ------------------- (in millions) 2018 (*) 2017 (*) 2018 2017 ------------------------------------------------------ - -------- - -------- - --------- --------- Number of confirmed registered users at end of period 234.9 191.2 234.9 191.2 Number of confirmed new registered users during period 23.0 17.0 11.8 9.0 Gross merchandise volume $ 6,276.6 $ 5,056.3 $ 3,135.4 $ 2,722.4 Number of successful items sold 165.6 114.7 85.4 61.5 Number of successful items shipped 105.3 60.7 52.8 33.4 Total payment volume $ 8,601.4 $ 5,721.8 $ 4,426.1 $ 3,152.0 Total volume of payments on marketplace $ 5,603.8 $ 4,027.4 $ 2,794.3 $ 2,201.6 Total payment transactions 159.8 96.4 85.5 52.1 Unique buyers 25.0 22.2 16.9 14.6 Unique sellers 8.6 6.5 4.2 4.2 Capital expenditures $ 46.8 $ 34.6 $ 23.7 $ 21.8 Depreciation and amortization $ 22.6 $ 19.1 $ 11.5 $ 10.1 (*) Percentages have been calculated using whole-dollar amounts rather than rounded amounts that appear in the table. The table above may not total due to rounding.

Table of Year-over-Year USD Revenue Growth Rates by Quarter

YoY Growth rates Consolidated Net Revenues Q2’17 Q3’17 Q4’17 Q1’18 Q2’18 Brazil 53% 35% 37% 15% 25% Argentina 30% 30% 42% 43% 14% Mexico (6)% (3)% 48% 51% 62%

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

YoY Growth rates Consolidated Net Revenues Q2’17 Q3’17 Q4’17 Q1’18 Q2’18 Brazil 40% 31% 35% 19% 40% Argentina 44% 51% 62% 80% 68% Mexico (3)% (7)% 41% 39% 71%

Conference Call and Webcast

The Company will host a conference call and audio webcast on Aug 8th, 2018 at 4:30 p.m. Eastern Time. The conference call may be accessed by dialing +(970) 315-0420 or +(877) 303-7209 (Conference ID 2498798) and requesting inclusion in the call for Mercado Libre. 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

Gross Billings - Total accrued fees, commissions, interest, and other sales received from users

Foreign Exchange (“FX”) Neutral – Calculated by using the average monthly exchange rate of each month of 2017 and applying it to the corresponding months in the current year, so as to calculate what the results would have been had exchange rates remained constant. Intercompany allocations are excluded from this calculation. These calculations do not include any other macroeconomic effect such as local currency inflation effects or any price adjustment to compensate local currency inflation or devaluations.

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

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

Total volume of payments on marketplace - Measure of the total U.S. dollar sum of all marketplace transactions paid for using MercadoPago, excluding shipping and financing fees.

Total payment volume – Measure of total U.S. dollar sum of all transactions paid for using MercadoPago, including marketplace and non-marketplace transactions.

Enhanced Marketplace - Revenues from the Enhanced Marketplace service, include the final value fees and shipping fees charged to the Company’s customers.

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

Items shipped- Measure of the number of items that were shipped through our shipping service.

Local Currency Growth Rates – Refer to FX Neutral definition.

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

New confirmed registered users – Measure of the number of new users who have registered on the Mercado Libre Marketplace and confirmed their registration.

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

Total confirmed registered users – Measure of the cumulative number of users who have registered on the Mercado Libre Marketplace and confirmed their registration.

Unique Buyers – New or existing buyers with at least one purchase made in the period.

Unique Sellers – New or existing sellers with at least one listing in the period.

About Mercado Libre

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

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

Forward-Looking Statements

Any statements herein regarding MercadoLibre, Inc. that are not historical or current facts are forward-looking statements. These forward-looking statements convey MercadoLibre, Inc.’s current expectations or forecasts of future events. Forward-looking statements regarding MercadoLibre, Inc. involve known and unknown risks, uncertainties and other factors that may cause MercadoLibre, Inc.’s actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. Certain of these risks and uncertainties are described in the “Risk Factors,” “Forward-Looking Statements” and “Cautionary Note Regarding Forward-Looking Statements” sections of MercadoLibre, Inc.’s annual report on Form 10-K for the year ended December 31, 2017, and any of MercadoLibre, Inc.’s other applicable filings with the Securities and Exchange Commission. Unless required by law, MercadoLibre, Inc. undertakes no obligation to publicly update or revise any forward-looking statements to reflect circumstances or events after the date hereof.

Consolidated statements of income (In thousands of U.S. dollars, except for share data) Six Months Ended June 30, Three Months Ended June 30, ---------------------------- --------------------------- 2018 2017 2018 2017 - -------- - - -------- - - -------- - - -------- - Net revenues $ 656,353 $ 553,558 $ 335,377 $ 283,882 Cost of net revenues (333,847 ) (213,148 ) (175,628 ) (112,328 ) - -------- - - -------- - - -------- - - -------- - Gross profit 322,506 340,410 159,749 171,554 Operating expenses: Product and technology development (71,833 ) (60,639 ) (33,437 ) (30,338 ) Sales and marketing (231,939 ) (123,786 ) (121,216 ) (76,856 ) General and administrative (76,395 ) (59,808 ) (33,337 ) (31,498 ) Impairment of Long-Lived Assets — (2,837 ) — (2,837 ) - -------- - - -------- - - -------- - - -------- - Total operating expenses (380,167 ) (247,070 ) (187,990 ) (141,529 ) - -------- - - -------- - - -------- - - -------- - (Loss) income from operations (57,661 ) 93,340 (28,241 ) 30,025 - -------- - - -------- - - -------- - - -------- - Other income (expenses): Interest income and other financial gains 19,110 22,820 9,915 10,663 Interest expense and other financial losses (23,936 ) (12,977 ) (13,202 ) (6,506 ) Foreign currency gains (losses) 18,178 (21,097 ) 12,577 (21,760 ) -------- - - -------- - - Net (loss) income before income tax gain (expense) (44,309 ) 82,086 (18,951 ) 12,422 - -------- - - -------- - - -------- - - -------- - Income tax gain (expense) 20,138 (28,252 ) 7,700 (7,106 ) - -------- - - -------- - - -------- - - -------- - Net (loss) income $ (24,171 ) $ 53,834 $ (11,251 ) $ 5,316 - -------- - - -------- - - -------- - - -------- -

Six-Months Ended June 30, Three-Months Ended June 30, ---------------------------- ----------------------------- 2018 2017 2018 2017 - ---------- - - ---------- - ---------- - - ---------- Basic EPS Basic net (loss) income Available to shareholders per common share $ (0.55 ) $ 1.22 $ (0.25 ) $ 0.12 ---------- - - ---------- ---------- - - ---------- Weighted average of outstanding common shares 44,157,364 44,157,364 44,157,364 44,157,364 - ---------- - - ---------- - ---------- - - ---------- Diluted EPS Diluted net (loss) income Available to shareholders per common share $ (0.55 ) $ 1.22 $ (0.25 ) $ 0.12 - - ---------- - - ---------- Weighted average of outstanding common shares 44,157,364 44,157,364 44,157,364 44,157,364 - ---------- - - ---------- - ---------- - - ---------- Cash Dividends declared (per share) — 0.150 — 0.150 - ---------- - - ---------- - ---------- - - ----------

Consolidated balance sheets (In thousands of U.S. dollars, except par value) June 30, December 31, 2018 2017 - --------- - - --------- - Assets Current assets: Cash and cash equivalents $ 489,157 $ 388,260 Restricted cash and cash equivalents 34,854 — Short-term investments 69,432 209,432 Accounts receivable, net 27,470 28,168 Credit cards receivables, net 307,614 521,130 Loans receivable, net 112,066 73,409 Prepaid expenses 14,410 5,864 Inventory 7,938 2,549 Other assets 62,213 58,107 - --------- - - --------- - Total current assets 1,125,154 1,286,919 Non-current assets: Long-term investments 11,394 34,720 Property and equipment, net 113,170 114,837 Goodwill 83,637 92,279 Intangible assets, net 19,256 23,174 Deferred tax assets 106,330 57,324 Other assets 60,500 63,934 - --------- - - --------- - Total non-current assets 394,287 386,268 Total assets $ 1,519,441 $ 1,673,187 - --------- - - --------- - Liabilities and Equity Current liabilities: Accounts payable and accrued expenses $ 226,101 $ 221,095 Funds payable to customers 498,623 583,107 Salaries and social security payable 50,043 65,053 Taxes payable 28,300 32,150 Loans payable and other financial liabilities 146,655 56,325 Other liabilities 25,342 3,678 Dividends payable — 6,624 - --------- - - --------- - Total current liabilities 975,064 968,032 Non-current liabilities: Salaries and social security payable 19,123 25,002 Loans payable and other financial liabilities 333,364 312,089 Deferred tax liabilities 23,166 23,819 Other liabilities 13,987 18,466 - --------- - - --------- - Total non-current liabilities 389,640 379,376 - --------- - - --------- - Total liabilities $ 1,364,704 $ 1,347,408 - --------- - - --------- - Equity: Common stock, $0.001 par value, 110,000,000 shares authorized, 44,157,364 shares issued and outstanding at June 30, 2018 and December 31, 2017 $ 44 $ 44 Additional paid-in capital 24,969 70,661 Retained earnings 515,846 537,925 Accumulated other comprehensive loss (386,122 ) (282,851 ) - --------- - - --------- - Total Equity 154,737 325,779 - --------- - - --------- - Total Liabilities and Equity $ 1,519,441 $ 1,673,187 - --------- - - --------- -

Consolidated statements of cash flows (In thousands of U.S. dollars, except par value) Six Months Ended June 30, ------------------------------- 2018 2017 - ---------- - - ---------- - Cash flows from operations: Net (loss) income $ (24,171 ) $ 53,834 Adjustments to reconcile net (loss) income to net cash provided by operating activities: Unrealized Devaluation Loss, net 6,976 25,502 Impairment of Long-Lived Assets — 2,837 Depreciation and amortization 22,566 19,083 Accrued interest (7,845 ) (10,930 ) Non cash interest and convertible notes amortization of debt discount and 9,684 4,798 amortization of debt issuance costs LTRP accrued compensation 16,792 22,068 Deferred income taxes (54,818 ) (10,451 ) Changes in assets and liabilities: Accounts receivable (21,807 ) (5,165 ) Credit card receivables 97,097 34,161 Prepaid expenses (10,143 ) 5,462 Inventory (6,299 ) 102 Other assets (24,441 ) (22,074 ) Accounts payable and accrued expenses 42,771 33,633 Funds payable to customers 32,513 63,164 Other liabilities 20,213 (498 ) Interest received from investments 8,066 10,788 - ---------- - - ---------- - Net cash provided by operating activities 107,154 226,314 - ---------- - - ---------- - Cash flows from investing activities: Purchase of investments (1,248,452 ) (2,186,528 ) Proceeds from sale and maturity of investments 1,390,713 2,200,172 Purchases of intangible assets (242 ) (74 ) Advance for property and equipment (4,426 ) (8,351 ) Changes in principal of loans receivable, net (66,629 ) (20,143 ) Purchases of property and equipment (42,092 ) (26,147 ) - ---------- - - ---------- - Net cash provided by (used in) investing activities 28,872 (41,071 ) - ---------- - - ---------- - Cash flows from financing activities: Proceeds from loans payable and other financial liabilities 146,666 7,800 Payments on loans payable and other financing liabilities (14,893 ) (2,969 ) Dividends paid (6,624 ) (13,247 ) Purchase of convertible note capped call (45,692 ) — ---------- - - Net cash provided by (used in) financing activities 79,457 (8,416 ) - ---------- - - ---------- - Effect of exchange rate changes on cash, cash equivalents, restricted cash (79,732 ) (28,176 ) and cash equivalents - ---------- - - ---------- - Net increase in cash, cash equivalents, restricted cash and cash equivalents 135,751 148,651 - ---------- - - ---------- - Cash, cash equivalents, restricted cash and cash equivalents, beginning of $ 388,260 $ 234,140 the period - ---------- - - ---------- - Cash, cash equivalents, restricted cash and cash equivalents, end of the $ 524,011 $ 382,791 period - ---------- - - ---------- -

Financial results of reporting segments Three Months Ended June 30, 2018 ---------------------------------------------------------------------------- Brazil Argentina Mexico Other Total Countries -------- - - --------- - - ------- - - --------- - - --------------- (In thousands) Net revenues $ 195,839 $ 100,110 $ 17,540 $ 21,888 $ 335,377 Direct costs (176,987 ) (68,051 ) (39,534 ) (21,088 ) (305,660 ) Direct contribution 18,852 32,059 (21,994 ) 800 29,717 (loss) Operating expenses and indirect costs (57,958 ) of net revenues --------------- Loss from (28,241 ) operations --------------- Other income (expenses): Interest income and other 9,915 financial gains Interest expense and other (13,202 ) financial losses Foreign 12,577 currency gains --------------- Net loss before income $ (18,951 ) tax gain - --------------- Three Months Ended June 30, 2017 --------------------------------------------------------------------------------------------- Brazil Argentina Mexico Venezuela Other Countries Total -------- - - --------- - - ------- - - --------- - - --------------- - - -------- - (In thousands) Net revenues $ 157,152 $ 87,992 $ 10,803 $ 14,181 $ 13,754 $ 283,882 Direct costs (97,200 ) (49,697 ) (33,420 ) (5,708 ) (12,555 ) (198,580 ) Impairment of Long-lived - - - (2,837 ) - (2,837 ) Assets -------- - --------- - ------- --------- - --------------- - -------- - Direct contribution 59,952 38,295 (22,617 ) 5,636 1,199 82,465 (loss) Operating expenses and indirect costs (52,440 ) of net revenues -------- - Income from 30,025 operations -------- - Other income (expenses): Interest income and other 10,663 financial gains Interest expense and other (6,506 ) financial losses Foreign currency (21,760 ) losses -------- - Net income before income $ 12,422 tax expense - -------- -

Non-GAAP Financial Measures

To supplement our consolidated financial statements presented in accordance with U.S. GAAP, we use foreign exchange (“FX”) neutral measures as 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 U.S. 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 our results of operations as determined in accordance with U.S. GAAP. This non-GAAP financial measure should only be used to evaluate our results of operations in conjunction with the most comparable U.S. GAAP financial measures.

Reconciliation of this non-GAAP financial measure to the most comparable U.S. GAAP financial measures can be found in the tables included in this quarterly report.

The Company believes that reconciliation of FX neutral measures to the most directly comparable GAAP measure provides investors an overall understanding of our current financial performance and its prospects for the future. Specifically, we believe this non-GAAP measure provide useful information to both management and investors by excluding the foreign currency exchange rate impact that may not be indicative of our core operating results and business outlook.

The FX neutral measures were calculated by using the average monthly exchange rates for each month during 2017 and applying them to the corresponding months in 2018, so as to calculate what our results would have been had exchange rates remained stable from one year to the next. The table below excludes intercompany allocation FX effects. Finally, this measure does not include any other macroeconomic effect such as local currency inflation effects, the impact on impairment calculations or any price adjustment to compensate local currency inflation or devaluations.

The following table sets forth the FX neutral measures related to our reported results of the operations for the three-month period ended June 30, 2018:

Three-month Periods Ended June 30, (*) ------------------------------------------------------------------ As reported FX Neutral Measures -------------------------------- -------------------------------- Percentag Percentag (In millions, except percentages) 2018 2017 e 2018 2017 e Change Change --------------------------------- - ------ - - ------ - -------- - ------ - - ------ - -------- (Unaudited) (Unaudited) Net revenues $ 335.4 $ 283.9 18.1 % $ 407.9 $ 283.9 43.7 % Cost of net revenues (175.6 ) (112.3 ) 56.4 % (209.3 ) (112.3 ) 86.3 % - ------ - - ------ - ------ - - ------ - - ------ - ------ - Gross profit 159.7 171.6 -6.9 % 198.6 171.6 15.8 % Operating expenses (188.0 ) (138.7 ) 35.5 % (227.9 ) (138.7 ) 64.4 % Impairment of Long-Lived Assets — (2.8 ) -100.0 % — (2.8 ) -100.0 % - ------ - - ------ - ------ - - ------ - - ------ - ------ - Total operating expenses (188.0 ) (141.5 ) 32.8 % (227.9 ) (141.5 ) 61.1 % - ------ - - ------ - ------ - - ------ - - ------ - ------ - Loss / Income from operations (28.2 ) 30.0 -194.1 % (29.3 ) 30.0 -197.7 % - ------ - - ------ - ------ - - ------ - - ------ - ------ - (*) The table above may not total due to rounding.

CONTACT:

MercadoLibre, Inc.Investor Relationsinvestor@mercadolibre.com

http://investor.mercadolibre.com

A pdf accompanying this announcement is available at http://resource.globenewswire.com/Resource/Download/e22643e1-25ab-469d-b4e1-460da6bfbf25