Mercado Libre will invest in a new storage center

By Mercado Libre

This is an automated translation of the press release issued in Spanish

Buenos Aires, September 4, 2024 - Mercado Libre announced the development of a new Storage Center that will double storage capacity, increase product processing and reduce delivery times for the platform's millions of users.

The new site, which will require an investment of 75 million dollars and will be developed by Plaza Logística within the Mercado Central premises, will have 56 thousand square meters and will allow the processing of 200 thousand to more than 400 thousand products per day. The new Storage Center will have space dedicated to the storage of bulky products and will increase the assortment of some categories.

The investment will involve the incorporation of more than 2,300 people and will generate thousands more indirect jobs, as it will allow thousands of Argentine SMEs to expand their operations and generate greater volume for the different operators throughout the logistics chain.

“This investment will allow us to develop new business verticals and at the same time significantly increase the number of fast and secure shipments to offer the best buying and selling experience to our millions of users. We continue to bet on the consolidation of e-commerce in the country and we want to be protagonists of this growth in the coming years,” said Ariel Szarfsztejn, President of Commerce at Mercado Libre.

“We are happy and honored to support Mercado Libre with this new investment. This is a development with the highest international standards of quality and sustainability. We are greatly motivated to contribute to the creation of youth employment, the development of logistics infrastructure and the growth of the country. We thank Mercado Libre for their renewed vote of confidence and we hope to continue investing with them in the development of Argentina,” said Ramiro Molina, General Manager of Plaza Logística.

This announcement comes as Mercado Libre celebrates its 25th anniversary, in which the company reinforces its commitment to developing solutions that drive the progress of millions of people in the country through the democratization of electronic commerce and financial services.

About Mercado Libre

Founded in 1999, Mercado Libre, Inc (NASDAQ: Meli) is the leading e-commerce and financial services technology company in Latin America, with operations in 18 countries. It offers a complete ecosystem of solutions for individuals and businesses to buy, sell, advertise, obtain credit and insurance, collect and send money, save and pay for goods and services both online and offline. Mercado Libre aims to facilitate access to commerce and financial services in Latin America, a market that presents great opportunities and high growth potential. It uses top-level technology to create intuitive solutions adapted to the local culture in order to transform the lives of millions of people in the region. More information at http://investor.mercadolibre.com/

About Plaza Logistics

Founded in 2009, Plaza Logística is Argentina's leading company in the development and management of multi-client logistics parks. It has more than 500,000 square meters distributed in six logistics parks strategically located in the City and Province of Buenos Aires. Plaza Logística seeks to promote the future of logistics and e-commerce, allowing more people to make their purchases online every day. Based on its associative link with leading companies and thanks to the investment in infrastructure and the adoption of new technologies, Plaza Logística develops state-of-the-art storage and distribution centers that, due to their strategic location, allow for shortening the last mile. More information at: https://plazalogistica.com.ar/