4Q22 and 2022

Conference 1:00 p.m. (Brasilia Time)

11:00 a.m. (New York Time)
The conference call will be held in Portuguese, with simultaneous
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Highlights (R$ '000) 4Q22 4Q21 22 vs 21 2022 2021 22 vs 21
Consolidated net revenue 2,590,497 2,489,876 4.0% 8,458,663 7,221,181 17.1%
Net revenue - Products 1,991,530 1,999,821 -0.4% 6,180,422 5,506,258 12.2%
Net revenue - Midway Financeira 571,292 466,276 22.5% 2,190,678 1,643,476 33.3%
Net revenue - Midway Mall 27,675 23,779 16.4% 87,563 71,448 22.6%
Same-store sales (% YoY Products) -3.1% 6.5% -9.6 p.p. 8.3% 24.1% -15.8 p.p.
Consolidated gross profit 1,473,062 1,387,934 6.1% 4,921,129 3,887,933 26.6%
Consolidated gross margin 56.9% 55.7% 1.1 p.p. 58.2% 53.8% 4.3 p.p.
Gross margin - Products 49.7% 50.9% -1.2 p.p. 50.7% 50.2% 0.5 p.p.
Adjusted consolidated EBITDA 389,499 452,213 -13.9% 948,116 898,089 5.6%
EBITDA from Products 347,269 278,059 24.9% 742,573 406,937 82.5%
EBITDA from Midway Financeira 15,864 151,105 -89.5% 122,613 424,549 -71.1%
EBITDA from Midway Mall 26,366 23,050 14.4% 82,930 66,603 24.5%
Adjusted EBITDA margin 15.0% 18.2% -3.1 p.p. 11.2% 12.4% -1.2 p.p.
Adjusted EBITDA margin from products 17.4% 13.9% 3.5 p.p. 12.0% 7.4% 4.6 p.p.
Net Income 102,257 304,619 -66.4% 51,980 453,128 -88.5%

Midway Financeira's net revenue grew 22.5% vs. 4Q21 and

Consolidated net revenue of R$2.6 billion, a 4.0% 33.3% in the year, reflecting the gradual evolution of the
increase versus 4Q21. The year recorded a growth credit portfolio, which reached R$6.0 billion, +18.2%
of 17.1%, to R$8.5 billion. compared to the end of 2021.

Strong performance in women's apparel same
stores sales of 20.9% in the year, as a result of the
evolution of the segment's value proposition, with
a focus on Riachuelo's target customer.
Increased coverage ratio from 92.3% in 3Q22 to 93.7% in
4Q22.
NPL ratio for 15 to 90 days decreased, and NPL ratio over 90
days presented stability in the quarter.

24.9% evolution in adjusted EBITDA from

products in 4Q22 and 82.5% in the year, as a result
of the evolution of the value proposition and
discipline of operating expenses.
Operational improvement of the digital channel,
which has already reached breakeven since
August and ended the quarter with positive
EBITDA.
Xodó Loyalty: the initial results collected during pilot phase
of the program carried out with invited customers showed
an average increase of 32% in their frequency and 29% in
spending at Riachuelo’s stores, exceeding projected
expectations.

ESG (Environmental, Social and Governance):

We became part of B3's ISE portfolio, which demonstrates

The Company ended the year with a cash level of
R$2.4 billion, which corresponds to 176% of the
short-term debt, demonstrating adequate
liquidity in view of the group's future obligations.
the Company's evolution in ESG matters.
Riachuelo was the only Brazilian textile retail company to
achieve leadership in the CDP Water Safety Program.
We ended the year with a 30% reduction in our
Greenhouse Gas emissions, ensuring 100% traceability of
energy sources.

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BRANDS PLATFORM
 Riachuelo: fashion and lifestyle, with 100% Brazilian DNA. Full of personality and a benchmark in the women's fashion retail
sector, Riachuelo dresses dreams, transforms and empowers Brazilian women, facilitating access to fashion and taking it to
the consumer with quality, variety, and fair value;

 Casa Riachuelo: from an omnichannel experience and an attractive product mix, Casa Riachuelo offers customers the latest
trends in home decor and products to dress the Brazilian home, in an elegant environment and offering a differentiated
service, focused on customizing the shopping experience and making it even more pleasant;

 Carter's: presents strong synergy with Riachuelo's value proposition and reinforces the Company's positioning in the baby
and early childhood clothing segment. All Carter's stores are born Omni and integrated with our ecosystem;

 FANLAB: a new business front dedicated to the geek audience, which operates independently both in the physical and
digital environments. FANLAB was already born within an omnichannel and integrated platform with solutions for fashion,
lifestyle, and financial services, reinforcing the strategy of the Company's ecosystem evolution.

PHYSICAL CHANNELS
The Company has 396 stores strategically distributed in all regions of Brazil, of which 333 are Riachuelo stores, 48 Carter's stand-
alone stores, 12 Casa Riachuelo stand-alone stores and 3 FANLAB stores, in addition to 13 Casa Riachuelo stores and 2 Carter's stores
in the store-in-store model.

In line with the Company's expansion strategy, in 2022, 35 new stores were opened, including:

 23 Carter's stores: 22 stand-alone and 1 store-in-store;

 5 Riachuelo stores;
B3 S.A. – BRASIL, BOLSA, BALCÃO: GUAR3 – ON
 4 Casa Riachuelo stores; 2 stand-alone and 2 store-in-store;

 3 FANLAB stores.
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DIGITAL CHANNELS
At the end of 4Q22, the Company exceeded the mark of 21 million active customers in its ecosystem, a 23% increase compared to
4Q21, and its customer base remains omnichannel: 53% of customers who purchased through digital means are also physical store
customers.

The penetration of this customer profile reached 15% of total sales in 4Q22, with emphasis on the strength of omnichannel customers,
who have a purchase frequency 2.4 times higher than other customers. Digital channels accounted for 9% of total sales, reflecting
the Company's strategy in which customers choose the channel they have the greatest affinity with at every moment of the purchase.
As a result, we recorded an operational improvement in the digital channels, which already showed a positive contribution margin in
4Q22.

Purchases originating from Riachuelo app accounted for 43% of online sales made during the quarter, following a high share, which
also contributes to greater purchase recurrence.

Complementing the Company's omnichannel strategy, the Marketplace reinforces the lifestyle concept based on fashion and
product curation, expanding categories and occasions of use for customers from 788 thousand offers from more than 380 sellers,
totaling 2.2 million SKUs available for sale.

At the end of 4Q22, the marketplace's share in digital channels increased to 17.4%. An analysis of consumers' profile shows that 82%
of our customers who bought in the marketplace had never purchased through this channel before and 42% of new customers in the
marketplace are also new to the ecosystem, thus demonstrating the success of the strategy. The penetration of Riachuelo card in
purchases made in the marketplace reached 46% in 4Q22, reinforcing the integration of the ecosystem.

FIDELITY & RELATIONSHIP

Xodó, the Riachuelo card loyalty program whose pilot phase
had its first stage launched in September 2022, reflects the
purpose of the Company to connect desires to
accomplishments. In order to strengthen the bond with its
clients, the Company now offers a series of benefits in
purchases, in addition to an exclusive relationship platform. All
this for free, with simple and attractive participation mechanics.

The highlighted advantages include the offer of cashback for

use in purchases in all physical and digital channels, as well as for
other expenses incurred using Riachuelo cards.

Due to the results presented, we will continue with a second

stage of tests throughout 2023. The invited customers
demonstrated, through a survey, good receptivity and
satisfaction with the experience of participating in the program.
From the consumption behavior stance, participants had a 32%
average increase in their frequency and 29% in spending within
Riachuelo, exceeding projected expectations.

The program will help us know about our customers' habits even
further, identify purchase propensity triggers, and scale more
personalized journeys.

Our CRM continues to evolve as a relationship and incentive

channel, resulting in increased recurrence of our customers. We
carried out more than a thousand campaigns per month, with
different approaches and segmentations through push, email,
SMS, call center and directly through the stores POS. With a
wide range of channels and offers, we are able to offer different
experiences to each of our customers.

In 2022, we implemented a new platform in the customer service area, which now is related to CRM Marketing, to generate more
personalized journeys and further strengthen our relationship with customers.

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FINANCIAL SERVICES
Midway Financeira is an integrated financial products and services platform connected with retail, and is a fundamental part of our
ecosystem. With the offer of autonomy and facilities to the user, the Company started to have an ever-broader relationship with its
customers, going beyond the mere offer of card and personal loans at stores, by also offering products and services in digital
channels, with maximum integration with the retail sector. The omnichannel card-holding customer has a purchase frequency ~3
times higher than other customers.

At the end of 4Q22, the Midway app had 2.6 million open digital accounts. Of these, we have approximately 1 million customers with
monthly access to carry out activities such as transfer via PIX, payment of bank slips, debt renegotiation and cell phone recharges,
being an important channel for relationship, cross-selling and revenue generation.

GUARARAPES FACTORY
Guararapes produced 39.0 million pieces in 2022, earning R$1.8 billion for Riachuelo in that period. The share of own products reached
45% of the total apparel categories sales in 2022, which ensures agility, reactivity, in addition to better social and environmental control
of the chain.

INTEGRATED DISTRIBUTION AND LOGISTICS

Supply of stores and delivery to customers

As a result of the improvements made to our commercial systems and logistical processes, we had a reduction in store disruptions
based on a more assertive initial allocation according to store clustering, and a more efficient replacement, with a greater balance of
inventory assortments and volumes that are in the Distribution Centers - CD, which led to a reduction in the average supply period
for the stores.

We continue with our priority of making faster deliveries to our customers. As part of actions taken to improve the level of service
offered, we entered into partnerships with startups in São Paulo and Rio de Janeiro, with a focus on increasing efficiency in the last
mile and reducing the delivery time for the end customer.

Thus, the number of orders delivered on the next day across the country increased 86% in 4Q22 vs. 4Q21. The average delivery time
for orders shipped from CDs throughout Brazil reduced from 3.5 days to 2.9 days. Considering the city of São Paulo and the Southeast
region, the average delivery time was one day and two days in the same period, respectively.

In addition to deliveries, our "Store Pick-up" and "Quick Pick-up" solutions are available in 100% of the stores, with the Quick Pick-up
deadline of up to 4 hours, integrated with lockers for the "Click and Pick-up" functionality. In 4Q22, these solutions represented 25%
of digital channel sales, versus 18% in 4Q21.

Operating efficiency

Following our focus on gaining efficiency in digital channels, we presented a 10% reduction in the cost per delivery of orders shipped
by the store in 4Q22 vs. 4Q21. In addition, the average cost per total order decreased by 28% and the percentage of net freight cost
was down 3 p.p. vs. 4Q21.

As part of our goal of delivering end-to-end conscious fashion to our consumers, 30% to 40% of stores in São Paulo are already
supplied with an electric fleet. Additionally, 100% of the e-commerce deliveries that leave Guarulhos CD to the city of Guarulhos are
carried out with an electric fleet, in addition to other areas in the city of São Paulo.

Integrated mobility focused on the customer experience

The new stores are already born with a payment structure focused on self-checkout + mobile POS, in which self-checkout reaches
around 50%.

 Self-Checkout: implementation of self-service totems for 77 stores in December 2022, bringing a relevant operating
efficiency gain;

 Mobile POS: tool that enables completion of purchases outside traditional checkouts, providing greater agility,
convenience, and flexibility to consumers, reducing the number of fixed POSs and generating a more fluid journey for
customers. Available in 100% of stores.

Still on the omni journey, our e-store solution — an infinite shelf platform with online and offline stock 100% integrated with physical
stores – represents 9% of orders from digital channels in 4Q22. In 2022, we followed the maturation of this solution, where more than
300,000 orders were delivered to customers from the infinite shelf.

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Movimento CRIA!

Sustainability is present in all of the Group's strategies and decision-making processes and the Movimento CRIA! permanently
translates the business model and how the Company conducts its activities, taking responsibility for its commitments to society and
the environment. For Riachuelo, choices and attitudes transform, revolutionize and create. CRIA! unifies sustainability practices for
an increasingly sustainable fashion path, from the search for raw materials and operations with less environmental impact, through
social initiatives that drive and transform communities, to monitoring and development of suppliers. With this initiative, the Group
seeks to join forces with society, listening to demands, responding with transparency and creating new ways of making fashion.

Guararapes joins the B3 Corporate Sustainability Index

For the 1st time, the Company was selected to integrate the 2023 portfolio of the B3 Corporate Sustainability Index ("ISE"). This
portfolio brings together 70 companies that stood out for their commitment to corporate sustainability.

Being part of the ISE portfolio demonstrates Guararapes' evolution and maturing in ESG matters, reinforcing the Company's focus on
creating a more sustainable fashion. This achievement reflects the Company's commitment to not only mitigate its negative impacts
on the planet, but also to go further: work to regenerate ecosystems and promote, economically and socially, communities in regions
where it operates.

In addition, it demonstrates the solid and fast way in which the Company has advanced in its sustainable actions. Because we
understand that the planet needs our action now and that the future we create together!

Riachuelo is the only Brazilian textile retail company to achieve leadership in water management at the CDP

Currently, only 1.2% of the Earth's water is available for human consumption, creating a serious problem for future generations and for
the planet. Responsible management of water use is a mission for Riachuelo, which has been joining efforts, with the support of
technology and innovation, to have less and less impact on the environment in its operations.

The most recent proof of this movement is that Riachuelo was the only Brazilian textile retail company to earn an A- score, reaching
the leadership level in the CDP Water Safety Program, an entity that operates a global disclosure system for investors, companies,
cities, states and regions to manage their environmental impacts. CDP recognized both the way in which Riachuelo manages water
in its production processes and the transparent way in which it reports its information to the market.

Our actions to reduce water use include our more efficient processes and technologies, which significantly reduce water
consumption, such as ozone, laser and nebulization. These technologies allow us to reduce water use by up to 20 times.

In addition, this year Riachuelo received a B+ score in Climate Change from the CDP, registering progress in its commitment to
reducing greenhouse gas emissions.

Climate Changes: we ended the year with a 30% reduction in our emissions

The voluntary commitment set by Riachuelo to reduce direct Greenhouse Gas Emissions by 30% in 2022, based on the year 2019,
was fulfilled with the purchase of International Renewable Energy Certificates (I-Recs), thus ensuring 100% traceability of energy
sources.

Commitment to Community: Donation of R$700,000 to AACD

In 4Q22, the Company was present on SBT's Teleton program supporting the Association for Assistance to Disabled Children
(AACD). Teleton is a television marathon with the aim of raising donations for the entity whose mission is to promote the rehabilitation
of people with disabilities. Our partnership with AACD goes back a long way and this year, we contributed more than R$700,000.
With the donation, we help the institution to maintain and expand its social work as well as to create and improve technological
rehabilitation centers throughout the national territory.

Circularity

Through the Innovation in Circularity + Sustainability HUB created by Riachuelo, we seek to find scaled solutions to a sensitive and
global issue in the fashion industry: closing the loop when it comes to textile recycling. With this initiative, the Company leads and
plays a leading role in conducting and gathering information, and innovative solutions related to the topic, connecting and integrating
different actors. With key partners searching together for effective solutions, already in the short and medium term, the Hub promises
to be the cradle of projects and new technologies that can be scalable. Therefore inspiring, engaging and inviting strategic players
who have the same interest as Riachuelo: to use the science and technology to reduce what is discarded in the environment and
promote a circular and healthy economy in the fashion industry in Brazil.

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Sustainability of our products

Riachuelo went beyond the target set for 2022 with regard to the use of more sustainable raw materials and products. The target was
30% of more sustainable products and 30% of more sustainable raw materials. We ended 2022 with 35% more sustainable products
in stores and 31.1% more sustainable raw materials.

Instituto Riachuelo

The Riachuelo Institute was born to shelter our socioeconomic initiatives. Through it, we promote special projects that impact around
150 small and medium-sized entrepreneurs and more than four thousand people in the northeast of Brazil, especially in Rio Grande
do Norte – RN state.

Among its action fronts, we highlight:

Pró-Sertão Program: through the Supply Chain Program in partnership with Sebrae and the State Government, the Instituto Riachuelo
supports more than 100 sewing workshops distributed in 33 municipalities in RN.

Agro Sertão: program in partnership with Embrapa and Sebrae that provides income and food security for the families from Seridó,
based on food culture. In addition to planting cotton without chemical inputs, this food crop is based on feeding its herd and planting
food for its subsistence, such as: beans, broad beans, corn, sesame, where the surplus is sold in the region to complement income.

Embroidery and handicraft: the project linked to these activities contains an engagement factor of enormous impact, since it is
directly linked to the local culture, coming from generations and which may be extinguished due to lack of incentive, structure and
market update. The Instituto Riachuelo, in partnership with Sebrae, works to expand and strengthen the market, providing conditions
to guarantee autonomy and strengthen the relationship between embroiderers and artisans with end consumers.

Native digital campaigns

The Company's communication strategy in 2022 was guided by the strengthening of digital campaigns, consolidating Riachuelo as a
content generator, and valuing the role of creators and influencers, which ensured identification, proximity and many lessons learned.

The last quarter of 2022 saw a greater presence of influencers in campaigns, topics relevant to networks (trends) and investments
increasingly focused on online strategies. Campaigns in the period accounted for 937 million impacts for Riachuelo, a 126% growth
versus 3Q22, 13 million clicks on digital media pieces, in addition to 110 million views on videos:

 Summer: the 2022 Summer collection was the big bet for October, which featured strong digital influencers, along with
influencers from Visto Riachu – our micro and nano influencer acceleration program;

 Brazilian Artists: with "Brasilidade" as one of its main pillars of communication, Riachuelo continued the Viva Arte initiative,
started in September with the collab with João Incerti, and launched three collaborative collections with artists Paulo
Mariotti, Verena Smit and Gabriel Azevedo;

 Parties: the campaign left the scope of photos and fashion movies and proposed a "video podcast" model, achieving the
highest engagement rate of the semester on Instagram;

 BodyWork: in January 2023, Riachuelo's sports brand, BodyWork, was relaunched, bringing Rebeca Andrade, Olympic and
world gymnastics champion, to the launch campaign. The brand delivers functional products, with a focus on performance
and quality in its collections.

The Visto Riachu, nano and micro-influencers acceleration program, increased the volume of publications and accounted for 39% of
the content produced in 4Q22.

In 2023, Riachuelo joins the sponsorship team of Big Brother Brasil – BBB, a program that connects the consumer in an omnichannel
strategy and that will allow Riachuelo to get closer to very relevant conversations with great repercussions. In addition, during the first
quarter of the year, it is a television program with a significant audience. Riachuelo thus appropriates a territory of opportunities and
visibility.

Social networks and media

 INSTAGRAM: Riachuelo closed the year with 8.2 million followers, being one of the most influential fashion and lifestyle
profiles in Brazil, with absolute leadership in interactions among the main competitors;

 TIKTOK: presence in this network continues to grow and consolidates itself as one of Riachuelo's largest communication
channels. There were more than 47 million views in 80 publications from October to December;
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  LIVESHOP: throughout 4Q22, 11 lives were held, and in 2022 there were 49 lives, with a total audience of 2.8 million people,
which represented 61.5% of new users of the site.

CCXP22

The biggest pop culture festival in the world, the 2022 edition brought together 280,000 people during the 5 days of the fair. Present
at CCXP since 2016, in the 2022 edition, Riachuelo officially passed the baton to FANLAB, which was one of the official sponsors of
the event. With a 540m² stand, the group's new geek brand brought different worlds of products to visitors, such as Harry Potter, Star
Wars, anime, games, heroes, movies, and series. As FANLAB was born with the purpose of providing experiences, the brand entered
into a partnership with Netflix for two activations: Stranger Things and Round 6. Another highlight was the issue of 1,100 Riachuelo
cards during the event.

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8 8
 Consolidated Products Midway Financeira Midway Mall
(R$ '000)
4Q22 4Q21 22 vs 21 4Q22 4Q21 22 vs 21 4Q22 4Q21 22 vs 21 4Q22 4Q21 22 vs 21
Net revenue 2,590,497 2,489,876 4.0% 1,991,530 1,999,821 -0.4% 571,292 466,276 22.5% 27,675 23,779 16.4%
Gross profit 1,473,062 1,387,934 6.1% 989,257 1,017,019 -2.7% 456,130 347,136 31.4% 27,675 23,779 16.4%
Gross margin 56.9% 55.7% 1.1 p.p. 49.7% 50.9% -1.2 p.p. 79.8% 74.4% 5.4 p.p. 100.0% 100.0% 0.0 p.p.
EBITDA 403,331 515,670 -21.8% 458,718 376,515 21.8% (81,752) 116,105 n.a. 26,366 23,050 14.4%
EBITDA margin 15.6% 20.7% -5.1 p.p. 23.0% 18.8% 4.2 p.p. -14.3% 24.9% n.a. 95.3% 96.9% -1.7 p.p.
Adjusted EBITDA 389,499 452,213 -13.9% 347,269 278,059 24.9% 15,864 151,105 -89.5% 26,366 23,050 14.4%
Adjusted EBITDA margin 15.0% 18.2% -3.1 p.p. 17.4% 13.9% 3.5 p.p. 2.8% 32.4% -29.6 p.p. 95.3% 96.9% -1.7 p.p.

Consolidated Products Midway Financeira Midway Mall

(R$ '000)
2022 2021 22 vs 21 2022 2021 22 vs 21 2022 2021 22 vs 21 2022 2021 22 vs 21
Net revenue 8,458,663 7,221,181 17.1% 6,180,422 5,506,258 12.2% 2,190,678 1,643,476 33.3% 87,563 71,448 22.6%
Gross profit 4,921,129 3,887,933 26.6% 3,133,034 2,763,556 13.4% 1,700,532 1,052,929 61.5% 87,563 71,448 22.6%
Gross margin 58.2% 53.8% 4.3 p.p. 50.7% 50.2% 0.5 p.p. 77.6% 64.1% 13.6 p.p. 100.0% 100.0% 0.0 p.p.
EBITDA 961,948 961,546 0.0% 854,022 505,394 69.0% 24,997 389,549 -93.6% 82,930 66,603 24.5%
EBITDA margin 11.4% 13.3% -1.9 p.p. 13.8% 9.2% 4.6 p.p. 1.1% 23.7% -22.6 p.p. 94.7% 93.2% 1.5 p.p.
Adjusted EBITDA 948,116 898,089 5.6% 742,573 406,937 82.5% 122,613 424,549 -71.1% 82,930 66,603 24.5%
Adjusted EBITDA margin 11.2% 12.4% -1.2 p.p. 12.0% 7.4% 4.6 p.p. 5.6% 25.8% -20.2 p.p. 94.7% 93.2% 1.5 p.p.

In 2022, the Company presented a consolidated net revenue of R$8.5 billion, a growth of 17.1% vs. 2021, reflecting the evolution of the
value proposition of its core business, which resulted in an increase of 12.2% in net revenue from Products, and the gradual growth of
Midway Financeira's credit portfolios, which brought a net revenue 33.3% higher than the previous year.

Consolidated adjusted EBITDA for 2022 totaled R$948.1 million, a 5.6% increase compared to 2021, mainly due to the 82.5% growth
in adjusted EBITDA from Products, as it has already returned to pre-pandemic levels. Midway Financeira, on the other hand, faced a
challenging scenario throughout the year and, as a result, adhered to more conservative credit policies, adjusting the risk of granting
new cards and reviewing customer limits.

Adjusted EBITDA evolution (R$ million)

1,240
66
898 948
466 83
67
123
425
369
708 40 743
331 407
-2
2019 2020 2021 2022

EBITDA - Products EBITDA - Midway Financeira EBITDA - Midway Mall

9
10

10
SALES

4Q22 4Q21 22 vs 21 2022 2021 22 vs 21

Sales Performance (R$ '000)

Products Total 1,991,530 1,999,821 -0.4% 6,180,422 5,506,258 12.2%
Riachuelo 1,919,587 1,954,907 -1.8% 5,971,241 5,417,476 10.2%
Casa Riachuelo 26,709 21,114 26.5% 86,176 44,068 95.6%
CARTER'S 45,234 23,799 90.1% 123,005 44,713 175.1%
Same-store sales (% YoY) -3.1% 6.5% -9.6 p.p. 8.3% 24.1% -15.8 p.p.
Operating Data
Total number of stores 396 364 8.8% 396 364 8.8%
Sales area in thousand sqm 697.4 684.9 1.8% 697.4 684.9 1.8%
Net revenue per sqm (R$ per sqm) 2,858 2,934 -2.6% 8,942 8,119 10.1%
Total average ticket (R$) 195.7 159.0 23.1% 181.1 152.6 18.7%
Riachuelo card average ticket (R$) 252 234 7.6% 236 212 11.6%
Number of employees (Group)* 31,155 35,325 -11.8% 31,155 35,325 -11.8%

*It takes into account intermittent employees measured by FTE (Full-Time Equivalent) and does not include employees on leave.

Net revenue from products totaled R$2.0 billion in 4Q22, in line with the revenue presented in 4Q21, and grew 10.0% over the same
period in 2019.

This sales performance was impacted by some atypical factors, such as lower-than-usual temperatures for the last quarter of the year,
as well as the World Soccer Cup event. December was the month with the best performance in the quarter, especially after the end
of the world cup.

 Apparel: emphasis on the performance of the women's and children's subcategories as a result of the evolution of the
value proposition and assertive positioning in these segments.

 Beauty: the category showed strong growth, with strong adherence to the value proposition in fashion and lifestyle.

 Home Fashion: the category still faces a challenging scenario, with a consumption profile targeted towards other categories
associated with the return of mobility. The Company continues to take advantage of the moment to evolve its value
proposition to customers in this segment, which contributes to higher profitability, but has an initial impact on sales.

 Electronics: the segment continues to face challenges, but has been offset by the Company's focus on supplementary
products.

In 2022, net revenue from products totaled R$6.2 billion, a 12.2% increase against 2021. Same-store sales (SSS) increased by 8.3% vs.
2021. Highlights on the 13.4% advance in the apparel category, with 20.9% in women's apparel.

Casa Riachuelo

Operational Data 4Q22 4Q21 22 vs 21 2022 2021 22 vs 21

# Stand alone stores 12 10 20.0% 12 10 20.0%
# Store in store 13 11 18.2% 13 11 18.2%
Net revenue (R$000) 26,709 21,114 26.5% 86,176 44,068 95.6%
Net revenue per sqm (R$ per sqm) 2,477 3,014 -17.8% 8,794 8,154 7.8%
Gross profit (R$000) 12,920 9,627 34.2% 41,772 20,355 105.2%
Gross Margin 48.4% 45.6% 2.8 p.p. 48.5% 46.2% 2.3 p.p.

Casa Riachuelo's net sales totaled R$26.7 million in 4Q22, a 26.5% increase against 4Q21. This format presented a gross margin of 48.4%
in the quarter, a 2.8 p.p. increase compared to the previous period. Casa Riachuelo ended 2022 with 12 stand-alone stores and 13 store-
in-store units, present in all regions of Brazil. In 2022, Casa Riachuelo's net revenue was R$86.2 million, a 95.6% increase against 2021,
and the gross margin for the year increased by 2.3 p.p., to 48.5%.

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Carter's

Operational Data 4Q22 4Q21 22 vs 21 2022 2021 22 vs 21

# Stand alone stores 48 26 84.6% 48 26 84.6%
# Store in store 2 1 100.0% 2 1 100.0%
Net revenue (R$000) 45,234 23,799 90.1% 123,005 44,713 175.1%
Net revenue per sqm (R$ per sqm)) 9,601 11,433 -16.0% 31,410 27,573 13.9%
Gross profit (R$000) 23,169 11,712 97.8% 62,627 22,311 180.7%
Gross Margin 51.2% 49.2% 2.0 p.p. 50.9% 49.9% 1.0 p.p.

Carter's net sales totaled R$45.2 million in 4Q22, a 90.1% increase compared to 4Q21. This format presented a gross margin of 51.2% in
the quarter, a 2.0 p.p. increase compared to the previous period. Carter's ended 2022 with 48 stand-alone stores and 2 store-in-store
units, present in all regions of Brazil, with stores in major shopping malls. In 2022, Carter's net revenue was R$123.0 million, an increase
of 175.1% vs. 2021, and the gross margin for the year increased by 1.0 p.p. to 50.9%.

Stores Portfolio Evolution*

396
3
364 12
10
332 48
321 26
3
5
321 324 328 333

2019 2020 2021 2022

Riachuelo Carter's Casa Riachuelo Fanlab

(*) Stores in the store-in-store model not included.

4Q22 Sales Area Age

4% 2%

8%

29% 58%

Over 10 years From 6 to 9 years From 3 to 5 years

From 1 to 2 years Under 1 year

Store revitalization

In 2022, part of the Company's strategy was to revitalize its Riachuelo store network, in addition to openings. Throughout the year,
interventions with different intensities were completed in 190 stores, ranging from lighting projects, painting, replacement of visual
merchandising equipment to more structural renovations, which included changes to the store's sales area, facade, and entry of new
categories, among others.

12
PRODUCTS PERFORMANCE

(R$ '000) 4Q22 4Q21 22 vs 21 2022 2021 22 vs 21

Net revenue 1,991,530 1,999,821 -0.4% 6,180,422 5,506,258 12.2%
COGS (1,002,273) (982,802) 2.0% (3,047,388) (2,742,701) 11.1%
Gross profit 989,257 1,017,019 -2.7% 3,133,034 2,763,556 13.4%
Gross margin 49.7% 50.9% -1.2 p.p. 50.7% 50.2% 0.5 p.p.
Adjusted EBITDA 347,269 278,059 24.9% 742,573 406,937 82.5%
Adjusted EBITDA margin 17.4% 13.9% 3.5 p.p. 12.0% 7.4% 4.6 p.p.

Gross Profit

Gross profit from products totaled R$989.3 million in the quarter, a decrease of 2.7% vs. the 4Q21. The gross margin from products
reached 49.7% in 4Q22, while the gross margin for apparel reached 53.2%. The lower gross margin in the quarter reflects inventory
loss entries above previous levels due to the shift in the inventory calendar and the higher cost of idleness in the industrial operation
as a result of the preparation to centralize manufacturing production in Rio Grande do Norte State. There was no change in the
commercial strategy in terms of price and product positioning.

In 2022, gross profit from products reached R$3.1 billion, 13.4% higher than the gross profit for 2021. Gross margin on products reached
50.7% in the year, a 0.5 p.p. increase compared to 2021, already returning to the same pre-pandemic level (50.5% in 2019).

Gross Profit from Products (R$ MM) Gross Profit from Products (R$ MM)
50.9% 50.2% 50.7%
49.7%

-2.7%

+13.4%

1,017 3,133
989
2,764

4Q21 4Q22 2021 2022

Gross margin from products Gross margin from products

Adjusted EBITDA

In 4Q22, adjusted EBITDA from products totaled R$347.3 million in the quarter, a 24.9% increase compared to 4Q21, and reached an
EBITDA margin of 17.4%, a 3.5 p.p. gain vs. the same period in the previous year.

The digital channels, which have been operating at breakeven since August 2022, posted positive EBITDA this quarter as a result of
the Company's focus on efficiency gain and extracting value from the channel.

Year-to-date, adjusted EBITDA from products totaled R$742.6 million vs. R$406.9 million in 2021, with an EBITDA margin growing to
12.0% (vs. 7.4% in 2021). This result also reflects an important resumption of the Company's operations in the retail segment when
compared to 2019, the pre-pandemic period.
Adjusted EBITDA from products (R$ MM) Adjusted EBITDA from products (R$ MM)

12.0%
17.4%

13.9%

7.4%
+24.9%
+82.5%

743
347
278
407

4Q21 4Q22 2021 2022

EBITDA margin from products EBITDA margin from products

13
14

14
Midway Financeira (R$ '000) 4Q22 4Q21 22 vs 21 2022 2021 22 vs 21

Gross Revenue 604,177 494,755 22.1% 2,316,457 1,745,355 32.7%

Revenue from card operations 390,992 334,452 16.9% 1,555,239 1,229,389 26.5%
Revenue from personal loans 165,489 118,695 39.4% 595,112 357,042 66.7%
Revenue from commissions 47,696 41,608 14.6% 166,106 158,924 4.5%
Tax expenses (32,885) (28,479) 15.5% (125,779) (101,879) 23.5%
Net Revenue 571,292 466,276 22.5% 2,190,678 1,643,476 33.3%
PDA - cards (278,151) (182,058) 52.8% (949,248) (521,819) 81.9%
PDA - personal loans (85,632) (43,314) 97.7% (267,349) (88,784) 201.1%
Recovery / Portfolio Sale 110,933 183,504 -39.5% 409,977 691,396 -40.7%
Discounts in credit operations (94,794) (105,332) -10.0% (427,583) (547,698) -21.9%
PDA net of recovery and discount (347,645) (147,200) 136.2% (1,234,203) (466,906) 164.3%
Result from financial operation 223,647 319,077 -29.9% 956,474 1,176,570 -18.7%
Result from financial operation margin 39.1% 68.4% -29.3 p.p. 43.7% 71.6% -27.9 p.p.
Operating expenses (207,817) (202,978) 2.4% (833,926) (787,161) 5.9%
Other operating income and expenses (97,582) 6 n.a. (97,552) 140 n.a.
Revenue from services provided to Riachuelo 13,024 12,700 2.5% 41,196 38,204 7.8%
Depreciation and amortization (8,987) (8,394) 7.1% (38,914) (28,230) 37.8%
Operating income (38,409) (26,281) 46.1% (136,833) (58,470) 134.0%
Income before income tax (116,125) 94,130 n.a. (109,554) 341,053 n.a.
Income tax and social contribution 54,735 (50,574) n.a. 58,736 (145,611) n.a.
Net income (loss) (61,389) 43,556 n.a. (50,818) 195,442 n.a.
Adjusted EBITDA 15,864 151,105 -89.5% 122,613 424,549 -71.1%
Adjusted EBITDA margin 2.8% 32.4% -29.6 p.p. 5.6% 25.8% -20.2 p.p.

Midway Financeira's gross revenue totaled R$604.2 million in 4Q22, a 22.1% growth compared to 4Q21. This evolution is mainly
associated with the 16.9% growth in financial revenue from card operations and the performance of the personal loan operation,
which reported a 39.4% increase. In 2022, Midway Financeira recorded a gross revenue of R$2.3 billion, a 32.7% increase compared
to 2021.

The performance presented in the main revenues from the financial operation reflect the gradual growth movement of the credit
portfolios during the year 2022, even with the adherence to more restrictive policies in the granting of credit.

The provision for credit losses from Riachuelo card operations (Private Label + Brand) and personal loans, net of credit recovery and
discounts, totaled R$347.6 million and covers the restoration of the absolute volumes of Midway Financeira's credit portfolio, as well
as the scenario of greater inflationary pressure and household indebtedness. The increase in the Provision for Doubtful Accounts -
PDA in the quarter also reflects the increase in the coverage ratio, from 92.3% in 3Q22 to 93.7% in 4Q22. Also, in 4Q22, Midway sold
part of its credit card portfolio, generating revenue of R$50.3 million, similar to the revenue from the sale of the portfolio made in
4Q21. In the year, the PDA expense net of the recovery of credits and discounts totaled R$1.2 billion.

Given this scenario and based on data and model-driven management, the Company follows the most conservative credit policies,
adjusting the risk by granting new cards and reviewing the limits of customers with higher risk. In addition, Midway also continues to
seek opportunities in collection strategies.

Operating expenses amounted to R$207.8 million in 4Q22, practically in line with 4Q21. Other operating expenses and revenues
totaled an expense of R$97.6 million in the quarter, related to the termination of the agreement with the Visa brand. On the other
hand, we negotiated exclusivity with the Mastercard brand, with more favorable terms throughout the contract.

As a result of the elements mentioned above, Adjusted EBITDA from Financial Operations reached R$15.9 million in 4Q22. In the year,
adjusted EBITDA from Financial Operations totaled R$122.6 million, down 71.1% compared to 2021.

15
 Evolution of the PDA on the portfolio (up to 360 days)

5,964
5,558 5,647
12.1% 5,046 4,988
4,854
4,571 4,497 4,428
4,109 4,281
4,046 3,983
3,712 3,708 3,708
7.6% 7.5% 7.1%
6.2% 5.6% 5.6% 5.9% 5.8%
4.3% 4.8%
2.7% 2.7% 3.5% 2.9%
1.5%

1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22

Credit portfolio up to 360 days (R$ 000) % PDA on the portfolio (up to 360 days)

The total credit portfolio amounted to R$6.0 billion in December 2022, an 18.2% increase as compared to December 2021. In the same
period, the credit card portfolio increased 14.0% and totaled R$5.1 billion, while the personal loan portfolio, excluding charges, grew
53.6%, totaling R$820 million.

Midway Key Indicators 4Q22 4Q21 22 vs 21

Credit Portfolio (R$ '000, up to 360 days) 5,964 5,046 18.2%
Card (R$ '000) 5,145 4,512 14.0%
Personal Loan (R$ '000) 820 534 53.6%
% PDA net of recovery and discount (up to 360 days) 5.8% 2.9% 2.9 p.p.
Coverage Ratio 93.7% 95.7% -2.0 p.p.
Delinquency Rate - 15 to 90 days* 7.3% 6.8% 0.4 p.p.
Delinquency Rate - over 90 days* 17.4% 12.2% 5.3 p.p.
Basel Index 11.4% 16.2% -4.8 p.p.

(*) Considers all financial products.

In the quarter, Midway Financeira increased its coverage ratio sequentially and ended the period with a total provision sufficient to
cover 93.7% of credits overdue for more than 90 days. The provision balance ended the period at 7.3% of the portfolio overdue by
180 days

Coverage Ratio (overdue for more than 90 days)

104.5%
101.6%

97.3%
95.7%
94.5% 94.5% 93.7%
93.0% 93.0% 93.0% 93.0% 93.0% 92.8% 92.2% 92.3%
90.1%

1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22

The delinquency rate continues to be a challenge in view of the macroeconomic scenario, but the new credits granted have been
showing a better quality. Delinquency on the credit card portfolio between 15 and 90 days (over 15 to 90) showed a significant
reduction of 1.4 p.p. vs. 3Q22, reaching 6.6%, which demonstrates a better behavior of shorter delay ranges. Portfolio delinquency
over 90 days (over 90) also dropped and reached 15.6%.

The delinquency of the Personal Loan portfolio between 15 and 90 days (over 15 to 90) has remained practically stable since the 2 nd
quarter. The portfolio over 90 days (over 90), in turn, increased to 29%, but remains below pre-pandemic levels.

16
 Delinquency Ratio - Cards
27.0%

22.7%
20.1%
18.1% 18.4% 18.4%
17.1%
15.2% 15.9% 15.6%
14.2%
12.8%
11.3% 11.1% 11.4% 11.5%

12.2%
10.2% 10.2% 9.3%
8.1% 8.6% 8.3% 9.0%
7.9% 8.0%
6.2% 6.7% 6.2% 6.6%
4.6% 4.3%

1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22
Over 90 days 15 to 90 days

Delinquency Ratio - Personal Loans

63.0%
56.3%
51.7%

37.1% 38.9% 38.7% 38.1% 37.2%

34.1%
29.0%
23.5% 23.0% 25.0%
18.8% 18.2% 19.7%

20.3% 6.7% 6.7%

15.4% 15.1% 14.0% 15.3% 15.5%
11.9% 11.1% 10.8% 11.9% 12.6% 11.7% 11.6% 11.8%

1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22
Over 90 days 15 to 90 days

The Basel Index ended the fourth quarter of 2022 at 11.4%. This index is an international indicator defined by the Basel Committee on
Banking Supervision, which recommends a minimum ratio of 8% between capital and risk-weighted assets. In Brazil, the minimum
required ratio is 11%, according to current regulations (CMN Resolution No. 4958/21, Circular Letter No. 3644/13, and BACEN Circular
Letter No. 3678/13).

PAYMENT TERMS
Sales made through Riachuelo's card, including private label cards and branded cards, represented 33.4% in 4Q22 vs. 34.7% in 4Q21,
as shown below:

4Q22 Sales Distribution 4Q21 Sales Distribution

6.4% 6.4%

28.1% 26.5%

26.9% 28.2%

38.5% 38.8%

Riachuelo Card with Interest Riachuelo Card without Interest Third-party Cards Cash

17
18
18
 Midway Mall (R$ ‘000) 4Q22 4Q21 22 vs 21 2022 2021 22 vs 21
Gross Revenue 29,603 25,940 14.1% 95,180 77,989 22.0%
Rents 29,096 25,554 13.9% 93,353 76,511 22.0%
Assignment of Rights 508 386 31.5% 1,828 1,478 23.7%
Net revenue 28,733 25,197 14.0% 91,671 75,300 21.7%
EBITDA 26,366 23,050 14.4% 82,930 66,603 24.5%
EBITDA margin 91.8% 91.5% 0.3 p.p. 90.5% 0.9 p.p. 2.0 p.p.
GLA (thousand of sqm) 65.7 65.7 0.0% 65.7 65.7 0.0%
EBITDA/GLA (R$/sqm) 401.4 350.9 14.4% 1,262.6 1,014.0 24.5%
NOI 27,329 23,972 14.0% 86,832 69,826 24.4%
NOI margin 95.1% 95.1% 0.0 p.p. 94.7% 92.7% 2.0 p.p.

Midway Mall's net revenue totaled R$28.7 million in 4Q22, 14.0% higher than the same period in 2021. EBITDA reached R$26.4 million
in this quarter, a 14.4% expansion, compared to 3Q21.

Year-to-date, Midway Mall recorded a net revenue of R$91.7 million, 21.7% higher than in 2021, and an EBITDA of R$82.9 million, up
24.5% against 2021.

Quantity Sales Area (sqm) Total Area

Rented Stores 348 573,703 781,371

Mall Stores 335 551,643 744,343
Street Stores 13 22,060 37,029
Own Stores 48 123,666 217,010
Mall Stores 10 31,051 42,671
Street Stores 38 92,615 174,339
Total 396 697,369 998,382

In addition to the Midway Mall operation, the group stands out for having a representative portfolio of stores in its own real properties.
Among the Company's 396 stores at the end of December 2022, 48 were installed in properties belonging to the group. Thus, of the
current 697 thousand m² of total sales area, 124 thousand m² (18%) refer to stores located in their own real properties.

Considering the area of its own real properties, together with the distribution center located in Natal and industrial production plants,
the Company has approximately 589 thousand m² of gross built-up area.

19
20
20
CONSOLIDATED OPERATING EXPENSES

(R$ '000) 4Q22 4Q21 22 vs 21 2022 2021 22 vs 21

Selling expenses (589,717) (620,124) -4.9% (2,206,948) (2,137,331) 3.3%

General and administrative expenses (248,297) (325,795) -23.8% (1,007,519) (1,047,217) -3.8%
Total operating expenses (838,014) (945,919) -11.4% (3,214,467) (3,184,548) 0.9%
% consolidated net revenue 32.3% 38.0% -5.6 p.p. 38.0% 44.1% -6.1 p.p.

In 4Q22, operating expenses totaled R$838.0 million, an 11.4% reduction compared to 4Q21, despite the impact of inflation in the
period. Operating expenses represented 32.3% of the consolidated net revenue in 4Q22, a 5.6 p.p. decrease vs. 4Q21. Year-to-date
operating expenses totaled R$3.2 billion and represented 38.0% of consolidated net revenue for 2022, a 6.1 p.p. decrease vs. 2021.

This result is due to the Company's discipline and control over its expenses, with revisions in the structures of the areas and
outsourced services, in addition to the focus on balancing the intensity of expenses related to the digital operation, especially those
related to media and freight, as part of its omnichannel strategy.

CONSOLIDATED EBITDA

EBITDA Reconciliation (R$ '000) 4Q22 4Q21 22 vs 21 2022 2021 22 vs 21

Net income 102,257 304,619 -66.4% 51,980 453,128 -88.5%

(+) Income tax and social contributions provision 39,919 25,733 55.1% (96,129) (242,002) -60.3%
(+) Financial result 108,590 44,367 144.8% 406,691 200,445 102.9%
(+) Depreciation and amortization 152,565 140,951 8.2% 599,406 549,974 9.0%
EBITDA 403,331 515,670 -21.8% 961,948 961,546 0.0%
Adjusted EBITDA margin 15.6% 20.7% -5.1 p.p. 11.4% 13.3% -1.9 p.p.
( - ) Other Items (13,832) (63,457) -78.2% (13,832) (63,457) -78.2%
Tax Recovery - Lei do Bem (118,213) - n.a. (118,213) - n.a.
Property, plant and equipment alienation (*) (46,954) (98,457) -52.3% (46,954) (98,457) -52.3%
Closing of Fortaleza factory 39,044 - n.a. 39,044 - n.a.
Advocative fees 14,674 - n.a. 14,674 - n.a.
Midway Financeira Expenses (**) 97,617 35,000 n.a. 97,617 35,000 n.a.
Adjusted EBITDA 389,499 452,213 -13.9% 948,116 898,089 5.6%
Adjusted EBITDA margin 15.0% 18.2% -3.1 p.p. 11.2% 12.4% -1.2 p.p.

(*) Related to the sale of the Legacy aircraft that belonged to Lojas Riachuelo in 4Q22. In 4Q21, the amount refers to the sale of the Company's
headquarters property, as already disclosed.
(**) Refers to the termination of the agreement with Visa in 4Q22. In 4Q21, there was an additional provision at Midway Financeira, in order to meet the
requirements of IFRS 9, as already disclosed.

Adjusted EBITDA totaled R$389.5 million in the quarter, with a margin of 15.0%. The 13.9% decrease compared to 4Q21 mainly reflects
the lower adjusted EBITDA of Midway Financeira, resulting from the resumption of provisions in view of the restoration of the
absolute volumes of the credit portfolio, as well as the scenario of greater inflationary pressure and household indebtedness.
Adjusted EBITDA from merchandise increased by 24.9% in the quarter.

In the year 2022, adjusted EBITDA totaled R$948.1 million, a 5.6% increase compared to the previous year. Year-to-date Adjusted
EBITDA margin was 11.2%.

21
FINANCIAL RESULT

(R$ ‘000) 4Q22 4Q21 22 vs 21 2022 2021 22 vs 21

Financial Income 47,715 37,915 25.8% 166,286 93,756 77.4%

Income from cash equivalents 45,866 33,371 37.4% 162,254 86,392 87.8%
Other financial income 1,849 4,544 -59.3% 4,032 7,364 -45.2%
Financial Expenses (151,263) (95,034) 59.2% (559,929) (259,377) 115.9%
Interest on loans, financing and debentures (149,231) (92,723) 60.9% (549,789) (240,714) 128.4%
Other financial expenses (2,032) (2,312) -12.1% (10,140) (18,663) -45.7%
Monetary and Currency Variation, net 15,255 32,432 -53.0% 70,912 46,059 54.0%
Net financial result (ex – IFRS16) (88,293) (24,687) 257.6% (322,731) (119,562) 169.9%
% consolidated net revenue 3.4% 1.0% 2.4 p.p. 3.8% 1.7% 2.2 p.p.
Interest on lease liabilities (20,297) (19,679) 3.1% (83,960) (80,883) 3.8%
Net financial result (108,590) (44,366) 144.8% (406,691) (200,445) 102.9%

The Company's ex-IFRS16 net financial result totaled an expense of R$88.3 million in the quarter, representing 3.4% of the net revenue.
This result continues to be impacted by the high-interest rate recorded in the period.

The main changes in the financial result in the quarter were:

 Financial revenues: increase of 25.8%, totaling R$47.7 million in 4Q22, mainly reflecting higher cash profitability due to higher
interest rates in the period and higher average cash in the period;

 Financial expenses: reached R$151.3 million in 4Q22 vs. R$95.0 million in 4Q21. This 59.2% variation mainly reflects the higher
cost of debt resulting from the increased CDI rate in the period.

In the year, the ex-IFRS16 net financial result totaled R$322.7 million, an increase of 169.9%. This variation was mainly due to the
increase in the average CDI rate for the period, from 4.5% in 2021 to 12.5% in 2022.

NET INCOME

(R$ ‘000) 4Q22 4Q21 22 vs 21 2022 2021 22 vs 21

EBITDA 403,331 515,670 -21.8% 961,948 961,546 0.0%
Depreciation and amortization (152,565) (140,951) 8.2% (599,406) (549,974) 9.0%
Financial result (108,590) (44,367) 144.8% (406,691) (200,445) 102.9%
Result before taxes 142,176 330,352 -57.0% (44,149) 211,126 n.a.
Income and Social Contribution Taxes (39,919) (25,733) 55.1% 96,129 242,002 -60.3%
Net Income 102,257 304,619 -66.4% 51,980 453,128 -88.5%
Net margin 3.9% 12.2% -8.3 p.p. 0.6% 6.3% -5.7 p.p.

The Company ended the fourth quarter with a net income of R$102.3 million, totaling R$52.0 million in 2022, with emphasis on (i) net
income from Products, which reflects the Company's strategy to evolve the value proposition of its core business, bringing more
assertiveness and product quality to the Products segment, combined with the dynamics of passing on inflation in sales prices; (ii)
Midway Mall's net income, resulting from the resumption of the customer flow in the mall; and (iii) the impact of the macroeconomic
scenario and the evolution of delinquency levels on Midway Financeira's results.

22
INVESTMENTS (CAPEX)

(R$ '000) 4Q22 (%) 4Q21 (%) 2022 (%) 2021 (%)
Tech & Digital Transformation 100,135 70.5% 122,668 62.0% 313,453 53.2% 338,636 59.6%
New stores 15,391 10.8% 33,711 17.0% 82,073 13.9% 103,291 18.2%
Maintenance 8,848 6.2% 9,447 4.8% 33,366 5.7% 20,913 3.7%
Remodeling 8,611 6.1% 12,659 6.4% 98,370 16.7% 44,198 7.8%
Distribution centers 4,102 2.9% 2,442 1.2% 12,959 2.2% 7,807 1.4%
Factory 3,564 2.5% 7,294 3.7% 30,051 5.1% 25,202 4.4%
Other 929 0.7% 5,863 3.0% 3,757 0.6% 14,029 2.5%
Management systems 361 0.3% 3,793 1.9% 14,799 2.5% 14,467 2.5%
Total 141,941 100.0% 197,877 100.0% 588,829 100.0% 568,543 100.0%

In 4Q22, the Company's investments totaled R$141.9 million, comprising mainly investments in technology and digital transformation,
in addition to store remodeling and expansion.

In 2022, the Company invested R$588.8 million, a 3.6% increase compared to the R$568.5 million invested in 2021, mainly related to
the revitalization of 190 stores carried out in the period, partially offset by the lower number of stores opened in the last year, in
addition to the reduction in the intensity of investments made in technology.

FREE CASH FLOW

(R$ '000) 4Q22 4Q21 2022 2021

Consolidated EBITDA after IFRS 16 403,331 515,670 961,948 961,546
Items non cash (189,300) (239,063) 5,695 44,040
IFRS 16 - rents (77,324) (76,814) (290,585) (251,396)
Change in Working Capital 754,121 (18,508) 407,165 (851,691)
Trade accounts receivable (274,372) (880,374) 34,605 (1,505,322)
Inventories 131,767 77,588 (112,508) (248,177)
Suppliers 215,846 135,616 (83,739) 12,594
Payables to card managers 173,342 285,853 186,802 720,803
Payroll, provisions and social contributions (31,001) (395) (27,525) 80,106
Taxes 205,783 235,404 73,410 (58,564)
Others 332,756 127,800 336,120 146,869
Income tax and social contribution paid (62,383) (41,097) (151,308) (55,856)
CF Operations 828,445 140,188 932,915 (153,357)
Investment - (261) (8) (5,152)
Property, plant and equipment (38,383) (78,843) (275,055) (234,382)
Intangible (103,558) (119,034) (313,773) (334,161)
Sell of assets 21,900 299,897 23,946 307,704
CF Investiments (120,041) 101,759 (564,890) (265,991)
Free Cash Flow 708,404 241,947 368,025 (419,348)
Financial expenses paid (99,984) (582) (115,960) (67,599)
Dividends and interest on shareholders' equity (1,402) (30,396) (211,201) (206,088)
Funding / Amortization 583,172 43,383 245,140 (612,371)
Securities - 22 32,370 109,236
Financial Cash Flow 481,786 12,427 (49,651) (776,822)
Increase (decrease) in cash and cash
1,190,190 254,374 318,374 (1,196,171)
equivalents, net

The Company presented a free cash generation of R$708.4 million in 4Q22 vs. R$241.9 million in 4Q21, mainly due to better working
capital. In the year, free cash flow totaled R$368 million.
23
NET DEBT AND LEVERAGE

Net Debt (R$ ‘000) 31/12/2022 30/09/2022 31/12/2021

Cash & Cash Equivalents 2,420,540 1,218,466 2,090,553
Loans and Financing (4,083,946) (3,497,530) (3,576,867)
Short Term (1,377,835) (1,077,416) (1,379,324)
Long Term (2,706,111) (2,420,114) (2,197,543)
Net Debt (1,663,406) (2,279,064) (1,486,314)
Net Debt/EBITDA¹ 1.7 2.1 1.5
Net Debt/EBITDA pre-IFRS 16¹ 2.5 2.9 2.2
¹ Last 12 months.

The Company ended the year with a cash level of R$2.4 billion, which corresponds to 176% of the short-term debt, demonstrating
adequate liquidity in view of the group's future obligations. In the quarter, advances were made on receivables in the amount of
R$506.8 million.

Net debt reached R$1.7 billion at the end of 2022, with a decrease in the net debt/EBITDA ratio to 1.7x and net debt/EBITDA pre-IFRS
to 2.5x.

24
STORE OPENINGS IN 4Q22

Store Openings Opening Sales Area   (sqm)

Carter's
1 - SP - Shopping Tamboré OCTOBER 110
2 - SP - Shopping JK Iguatemi OCTOBER 114
3 - SP - Mooca Plaza Shopping OCTOBER 100
4 - SP - Shopping Pátio Paulista OCTOBER 78
5 - MS - Shopping Campo Grande NOVEMBER 98
6 - SE - Shopping Jardins NOVEMBER 80
7 - SP - Shopping Cidade Jardim DECEMBER 75
8 - RJ - Shopping Leblon DECEMBER 71
FANLAB
1 - SP - Shopping Metrô Tatuapé NOVEMBER 143

EBITDA PRE-IFRS 16
Reconciliation of Pre-IFRS 16 EBITDA
4Q22 4Q21 22 vs 21 2022 2021 22 vs 21
(R$ '000)
Net income 102,257 304,619 -66.4% 51,980 453,128 -88.5%
(+) Income tax and social contributions provision 39,919 25,733 55.1% (96,129) (242,002) -60.3%
(+) Financial result 108,590 44,367 144.8% 406,691 200,445 102.9%
(+) Depreciation and amortization 152,565 140,951 8.2% 599,406 549,974 9.0%
EBITDA (after IFRS 16) 403,331 515,670 -21.8% 961,948 961,546 0.0%
(-) Lease depreciation (IFRS 16) (54,077) (55,624) -2.8% (218,028) (218,216) -0.1%
(-) Lease finance expense (IFRS 16) (20,297) (19,679) 3.1% (83,960) (80,883) 3.8%
(-) Other adjustments (2,950) (1,206) 144.5% 11,402 15,758 -27.6%
EBITDA* (pre IFRS 16) 326,007 439,161 -25.8% 671,362 678,205 -1.0%
EBITDA margin (pre IFRS 16) 12.6% 17.6% -5.1 p.p. 7.9% 9.4% -1.5 p.p.

25
CONSOLIDATED INCOME STATEMENT

Income Statement (R$ ‘000) 4Q22 4Q21 22 vs 21 2022 2021 22 vs 21

Gross revenue 3,219,978 3,119,933 3.2% 10,428,767 9,007,354 15.8%
Gross revenue - Products 2,587,675 2,600,648 -0.5% 8,021,657 7,187,862 11.6%
Gross revenue - Midway Financeira 604,177 494,755 22.1% 2,316,457 1,745,355 32.7%
Gross revenue - Midway Mall 28,126 24,529 14.7% 90,653 74,137 22.3%
Deductions (664,062) (666,691) -0.4% (2,091,909) (1,886,022) 10.9%
ICMS tax benefits 34,581 36,635 -5.6% 121,805 99,850 22.0%
Net revenue 2,590,497 2,489,876 4.0% 8,458,663 7,221,181 17.1%
Net revenue - Products 1,991,530 1,999,821 -0.4% 6,180,422 5,506,258 12.2%
Net revenue - Midway Financeira 571,292 466,276 22.5% 2,190,678 1,643,476 33.3%
Net revenue - Midway Mall 27,675 23,779 16.4% 87,563 71,448 22.6%
Cost of goods and services sold (1,117,435) (1,101,942) 1.4% (3,537,534) (3,333,248) 6.1%
COGS - products (1,002,273) (982,802) 2.0% (3,047,388) (2,742,701) 11.1%
Costs - Midway Financeira (115,162) (119,140) -3.3% (490,146) (590,547) -17.0%
Gross profit 1,473,062 1,387,934 6.1% 4,921,129 3,887,933 26.6%
Gross margin 56.9% 55.7% 1.1 p.p. 58.2% 53.8% 4.3 p.p.
Selling expenses (589,717) (620,124) -4.9% (2,206,948) (2,137,331) 3.3%
General and administrative expenses (248,297) (325,795) -23.8% (1,007,519) (1,047,217) -3.8%
Total operating expenses (838,014) (945,919) -11.4% (3,214,467) (3,184,548) 0.9%
Provision for doubtful accounts (307,229) (96,584) 218.1% (868,223) 22,305 n.a.
Depreciation and amortization expenses (145,509) (134,598) 8.1% (572,824) (524,563) 9.2%
Other operating expenses/income 68,456 163,886 -58.2% 96,927 210,445 -53.9%
EBIT 250,766 374,719 -33.1% 362,542 411,572 -11.9%
Financial revenue (expense) (108,590) (44,367) 144.8% (406,691) (200,445) 102.9%
Earnings before income tax and social
142,176 330,352 -57.0% (44,149) 211,126 n.a.
contribution
Income and social contribution taxes (39,919) (25,733) 55.1% 96,129 242,002 -60.3%
Net income (loss) 102,257 304,619 -66.4% 51,980 453,128 -88.5%
Net margin 3.9% 12.2% -8.3 p.p. 0.6% 6.3% -0.9 p.p.
Depreciation and amortization (expenses+costs) 152,565 140,951 8.2% 599,406 549,974 9.0%
EBITDA 403,331 515,670 -21.8% 961,948 961,546 0.0%
EBITDA margin 15.6% 20.7% -5.1 p.p. 11.4% 13.3% -1.9 p.p.
Total common shares (ON) 499,200 499,200 0.0% 499,200 499,200 0.0%
EPS (R$) 0.20 0.61 -66.4% 0.10 0.91 -88.5%

26
CONSOLIDATED BALANCE SHEET

Assets (R$ ‘000) 12/31/22 09/30/22 12/31/21

Current assets 10,203,609 8,083,846 8,832,709

Cash & cash equivalents 2,420,540 1,218,466 2,090,553
Trade accounts receivable 2,285,931 2,097,817 2,543,481
Branded-card trade receivables 2,922,840 2,836,581 2,699,894
Inventories 1,339,277 1,481,721 1,272,577
Recoverable taxes 1,093,205 369,167 160,489
Other current assets 141,816 80,094 65,715
Non-current assets 5,018,330 5,759,294 5,645,712
Deferred or recoverable taxes 1,342,040 2,063,691 2,100,933
Court deposits 188,745 181,474 160,535
Investment properties 160,567 161,910 165,941
Property, plant and equipment 1,574,382 1,632,616 1,573,521
Right of use 849,902 883,578 916,406
Intangible assets 902,694 836,025 728,376
Total assets 15,221,939 13,843,140 14,478,421

Liabilities (R$ ‘000) 12/31/22 09/30/22 12/31/21

Current liabilities 6,307,421 5,348,583 6,085,371

Suppliers 788,793 605,137 761,580
Suppliers - "Confirming" 173,697 141,507 284,649
Loans and financing 526,025 556,022 986,522
Debentures 851,810 521,394 392,802
Lease operations 282,848 288,623 282,054
Dividends proposed and payable 63,647 64,032 205,061
Wages, benefits and provisions 227,773 258,774 255,298
Income tax and social contribution 324,592 180,206 228,701
Payables to card managers 2,577,794 2,404,452 2,390,992
Other current liabilities 490,442 328,436 297,712
Non-current liabilities 3,651,430 3,336,057 3,126,265
Loans and financing 863,590 756,389 467,808
Debentures 1,842,521 1,663,725 1,729,735
Lease operations 662,373 693,224 718,268
Provision for labor, tax and civil risks 96,692 218,721 205,855
Other non-current liabilities 186,254 3,998 4,599
Shareholders’ equity 5,263,088 5,158,500 5,266,785
Share Capital 3,100,000 3,100,000 3,100,000
Treasury shares (20) (20) (20)
Granted Options 58,250 56,023 44,319
Assigned cost reserve 82,289 83,213 85,772
Profit reserve 2,022,569 1,919,284 2,036,714
Total liabilities 15,221,939 13,843,140 14,478,421

27
CONSOLIDATED CASH FLOW

Cash Flow Statement - Indirect Method (R$ ‘000) 4Q22 4Q21 2022 2021

Cash flow from operating activities

Net income for the period 102,257 304,619 51,980 453,128
Estimate for credit losses 129,712 94,095 683,142 (28,318)
Equity instruments granted 2,227 5,105 13,931 20,419
Tax credits  recovery  (2,059) (5,544) (16,167) (33,109)
Depreciation and amortization 98,488 85,327 381,378 331,758
IFRS 16 depreciation 54,077 55,624 218,028 218,216
Profit (loss) from disposal of fixed assets (48,945) (242,941) (49,699) (244,611)
Deferred taxes 93,264 (30,332) (133,832) (213,362)
Estimate for losses (gain) in inventories 10,677 22,895 45,808 18,509
Impairtment of fixed assets 9,074 - 9,074 -
Provision for labor, tax and civil risks (119,552) 14,100 (98,519) 20,210
Prescribed dividends and interest on shareholders' equity (385) (552) (385) (552)
Interest and monetary exchange variation 141,976 87,486 529,710 243,671
Interest on IFRS 16 20,297 19,679 83,960 80,883
IFRS16 adjustment in subsidiary "COVID-19 effect” - - - (30,502)
Interest on securities (11,780) (6,806) (43,454) (17,135)
Changes in assets and liabilities
Trade accounts receivable (404,084) (974,469) (648,537) (1,477,004)
Inventories 131,767 77,588 (112,508) (248,177)
Recoverable taxes (93,666) 103,532 (24,296) 89,826
Other assets (7,390) 131,825 (21,769) 133,038
Judicial deposits and others (4,116) (6,998) (16,496) (16,299)
Suppliers 183,656 121,657 27,213 7,192
Suppliers - "Confirming" 32,190 13,959 (110,952) 5,402
Payroll, provisions and social contributions (31,001) (395) (27,525) 80,106
Income tax and social contribution 6,044 56,238 140,294 89,478
Other taxes and contributions 202,200 111,510 107,411 8,603
Payables to card managers 173,342 285,853 186,802 720,803
Other liabilities 344,262 2,973 374,385 30,130
Cash provided from operating activities 1,012,532 326,028 1,548,977 242,303
Payment of interest (141,887) (56,574) (279,485) (144,071)
Provision for labor, tax and civil risks paid (2,477) (11,937) (10,644) (11,937)
Payment of income tax and social contribution (62,383) (41,097) (151,308) (55,856)
Net cash provided from operating activities 805,785 216,420 1,107,540 30,439
Cash flow from investing activities
Avaiable assets for sale - (1,000) - (1,000)
Redemption of securities - 1,022 32,370 110,236
Additions to investment property - (261) (8) (5,152)
Additions to property, plant and equipment (38,383) (78,843) (275,055) (234,382)
Additions to intangible assets (103,558) (119,034) (313,773) (334,161)
Receivables from the sale of property, plant and equipment 21,900 299,897 23,946 307,704
Net cash used in investing activities (120,041) 101,781 (532,520) (156,755)
Cash flow from financing activities
Interest on own capital paid - (14) (201,401) (173,624)
Income tax on interest on own capital paid (1,402) (30,382) (9,800) (32,464)
Loans and financing 100,369 219,246 642,634 588,338
Debentures 700,000 - 1,537,046 -
Cost to be appropriated - Debentures (6,597) - (19,568) -
Amortization of loans and financings (69,511) (175,863) (889,522) (1,157,099)
Amortization of CRI - - - (43,610)
Amortization of lease liabilities (77,324) (76,814) (290,585) (251,396)
Debenture amortization (141,089) - (1,025,450) -
Net cash used in investing activities 504,446 (63,827) (256,646) (1,069,855)
Increase (decrease) in cash and cash equivalents, net 1,190,190 254,374 318,374 (1,196,171)
Cash and cash equivalents at the beginning of the period 853,959 1,471,401 1,725,775 2,921,946
Cash and cash equivalents at the end of the period 2,044,149 1,725,775 2,044,149 1,725,775

28
 — CFO and DRI

— IR Superintendent

IR Manager

IR Analyst

29