Enjoei (ENJU3) investor relations material

Business model and reach

• C2C marketplace connecting buyers seeking curated, affordable items with individual sellers and micro-entrepreneurs; platform emphasizes social discovery and engagement.

• 1.1M active buyers, 1.3M active sellers, R$1.4B GMV, R$190.07 average order value, 23.2% take rate and 16.3% net take rate.

• Online marketplace monetizes through seller commissions; buyers pay shipping, with partial freight subsidies. Physical stores operate through owned and franchised formats.

• Franchise channel had 9 stores in operation and 2 under implementation or site selection; 2026 priorities include operational refinement, partner differentiation and store profitability.

Market opportunity and growth strategy

• Brazil secondhand fashion GMV projected to rise from R$26.0B in 2025 to R$89.5B in 2031, a 22.8% CAGR; Brazil had more than 118,000 active thrift stores.

• Brazil e-commerce penetration was 9.9% in 2025 versus 23.1% in the US, indicating room for further online-market expansion.

• Platform captured 7.0% of total web and app traffic in fashion and accessories; 38% of shoppers navigate between physical and online stores.

• 2026 priorities: expand inventory and seller base, diversify categories, improve conversion, increase efficiency and maximize profitability per physical store.

• Free listing mode and AI-powered uploads are intended to broaden inventory, attract higher-AOV categories and support platform growth while maintaining capital discipline.

Revenue model and product initiatives

• Listing options include Free Mode at 0% seller commission, Classic Mode at 12%, Boosted Mode at 18% and Enjoei Pro at 50%; rates and fees vary by service and mode.

• Enjoei Pro provides consignment services including product photography, listing, negotiation and shipping; the Cabreúva distribution center can process more than 1.5M products.

• AI-powered upload launched in 1Q26, automating listing creation and reducing listing time per item by more than 30%.

• Free Mode removes seller commission and fees for eligible listings; monetization includes a buyer service fee and optional protected shipping, with listing limits and incentive restrictions.

• Enjugrana completed its first full quarterly cycle in 4Q25; in 2Q26 it improved the parent net financial result by R$4.7M YoY, supporting checkout efficiency and lower prepayment costs.