Marisa Lojas S A : Dados Econômico-Financeiros

Interim Financial Information

Marisa Lojas S.A. and Subsidiaries

March 31, 2023

with Independent Auditor's Review Report on Interim Financial Information

São Paulo CorporateTowers

Av.PresidenteJuscelino Kubitschek, 1,909 6º ao 10ºandar - Vila NovaConceição 04543-011 - SãoPaulo -SP- Brasil

Tel: +55 11 2573-3000 ey.com.br

A free translation from Portuguese into English of Independent auditor's review report on interim financial information prepared in Brazilian currency in accordance with Accounting Pronouncements NBC TG 21 and IAS 34 - Interim Financial Reporting

Independent auditor's review report on interim financial information

The Board of Directors, Shareholders and Officers of

Marisa Lojas S.A.

São Paulo - SP

Introduction

We have reviewed the individual and consolidated interim financial information of Marisa Lojas S.A. ("Company"), contained in the Quarterly Information Form (ITR) for the quarter ended March 31, 2023, which comprises the statement of financial position as at March 31, 2023 and the related statements of profit or loss, of comprehensive income (loss), of changes in equity, and of cash flows for the three- month period then ended, including the explanatory information.

The executive board is responsible for the preparation of the individual and consolidated interim financial information in accordance with Accounting Pronouncement NBC TG 21 - Interim Financial Reporting and IAS 34 - Interim Financial Reporting, issued by the International Accounting Standards Board (IASB), as well as for the fair presentation of this information in conformity with the rules issued by the Brazilian Securities and Exchange Commission (CVM) applicable to the preparation of the Quarterly Information Form (ITR). Our responsibility is to express a conclusion on this interim financial information based on our review.

Scope of review

We conducted our review in accordance with Brazilian and International Standards on Review Engagements (NBC TR 2410 and ISRE 2410 - Review of Interim Financial Information Performed by the Independent Auditor of the Entity, respectively). A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with auditing standards and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Basis for qualified conclusion

As disclosed in Note 20.4, indirect subsidiary M CARTÕES - Administradora de Cartões de Crédito Ltda. ("M Cartões") has legal and administrative proceedings seeking the annulment of tax deficiency notices, based on allegedly omission of taxable income in 2011, 2012 and 2015 for the collection of Corporate Income Tax (IRPJ) and Social Contribution Tax on Net Profit (CSLL), which were not recorded, since the likelihood of loss is assessed as possible according to the executive board's opinion.

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Uma empresa-membro da Ernst & Young Global Limited

On September 14, 2022, M Cartão was notified of an unfavorable decision regarding the tax deficiency notice for 2012. Had such unfavorable decision been assessed based on the requirements of Accounting Interpretation ICPC 22/IFRIC23 - Uncertainty over Income Tax Treatments, the probability of loss should have been classified as probable and, in our understanding, a provision should have been recognized to comply with the accounting practices referred to under NBC TG 21 and IAS 34. The revised information indicates that, had this provision been recognized, the Individual balance of investments, total noncurrent assets and equity as of March 31, 2023 would have been overstated by R$141,240 thousand (R$136,863 thousand at December 31, 2022), and the loss for the three-month period ended on that date would have been understated by R$4,377 thousand; and, the Consolidated balance of total noncurrent liabilities would have been understated and equity overstated at March 31, 2023 by R$141,240 thousand (R$136,863 thousand at December 31, 2022), and the loss for the three-month period ended on that date would have been understated by R$4,377 thousand.

Qualified conclusion on the individual and consolidated interim financial information

Based on our review, except for the matter described in the paragraph above, we are not aware of any fact that leads us to believe that the individual and consolidated interim financial information included in the aforementioned quarterly information was not prepared, in all material respects, in accordance with NBC TG 21 and IAS 34, applicable to the preparation of Quarterly Information (ITR), and presented in accordance with the rules issued by the Brazilian Securities and Exchange Commission (CVM).

Emphasis of matter

Restatement of corresponding figures

As mentioned in Note 2.2, due to the correction of related errors: (i) the undue recognition of revenue arising from the amount received by M Cartões as a result of a partnership with third parties and; (ii) the undue capitalization of expenses in intangible assets of Marisa and M Cartões, the corresponding amounts referring to the individual and consolidated statements of profit or loss, of comprehensive income (loss), of changes in equity, of cash flows and of value added for the three-month period ended March 31, 2022, presented for comparison purposes, were adjusted and are restated as provided for under NBC TG 23 - Accounting Policies, Changes in Accounting Estimates and Errors. Our conclusion is not modified in respect of this matter.

Material uncertainty with respect to continuity of business operations

We draw attention to Note 2 to the individual and consolidated interim financial information, which indicates that the Company incurred a loss of R$148,967 thousand in the three-month period ended March 31, 2023 and, according to the statement of financial position on that date, the Company's current liabilities exceeded total current assets by R$248,875 thousand. As stated in Note 2, these events or conditions, together with other matters described in the same note, indicate the existence of material uncertainty that may cast significant doubt on the Company's and its subsidiaries' ability to continue as a going concern. Our conclusion is not qualified in respect of this matter.

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Other matters

Statements of value added

The quarterly information referred to above includes the individual and consolidated statements of value added (SVA) for the three-month period ended March 31, 2023, prepared under the responsibility of the Company's executive board and presented as supplementary information for purposes of IAS 34. These statements have been subject to review procedures performed in conjunction with the review of the quarterly information to conclude whether it is reconciled to the interim financial information and accounting records, as applicable, and whether its form and content are in accordance with the criteria defined in NBC TG 09 - Statement of Value Added. Based on our review, except for the effects on value added arising from the matter described in the paragraph "Basis for qualified conclusion", we are not aware of any fact that leads us to believe that these statements of value added were not prepared, in in all material respects, in accordance with the criteria set out in this Standard and consistently with the individual and consolidated interim financial information taken as a whole.

São Paulo, May 15, 2023.

ERNST & YOUNG

Auditores Independentes S/S Ltda.

CRC-SP-034519/O

Patricia Nakano Ferreira

Accountant CRC-SP-234620/O

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