Sendas Distribuidora S A : Institucional Presentation

INSTITUTIONAL PRESENTATION

September 2021

LARGEST PURE PLAYER CASH & CARRY WITH CONSISTENT GROWTH

Retail Leadership
2nd largest													Approval of Pension
															Reform
retailer in Brazil	+8pp												Jair Bolsonaro	Spin-off
			New Strategy and Management
							Election		39.4
				New store format
	of market share												Truck Drivers
	in the last 6 years							#Quarentou
									Strike
									Assaí is 40 Years old
		Acquires									30.4
National Footprint	60% stake in Assaí								Impeachment of
	Increases to
										Dilma Rousseff
												24.9
189					100% stake					Protests in favor of
					in Assaí
									Dilma's Impeachment	20.1
One of the Largest(1)
							Dilma Rousseff
Stores	Companies in Brazil		New						15.7
		Dilma Rousseff				Re-election
23 states(3)	17th Place		States									27.9%
		Election				9.0	11.3
	The brand is one of							6.8					CAGR
					4.3	5.1						2011-2020
	the 20th most valuable		1.5	2.2	3.3
	brands in Brazil(2)
	2007	2008	2009	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020
	# Stores	15	28	40	57	59	61	75	84	95	107	126	144	166	184
	EBITDA Margin(4)	-	-	-	-	-	-	-	5.1%	5.3%	5.6%	6.5%	6.8%	7.0%	7.5%
	Revenue/store (R$mm)		55	58	60	77	86	93	110	122	148	160	173	183	214
Notes: (1) Considering sales in 2019, according to Exame; (2) 2020 Interbrand Ranking; (3) In August 2021; (4) Adjusted EBITDA - after IRFS 16												2

CONTINUOUS EXPANSION OF NATIONAL FOOTPRINT

2012

+17

states

+8pp

August	1	1
2021
	3	5

1	1
	5

+128	8	3
stores	1

4

2

3	9		2
	3	2
	1	8
	1	3
16	3

44%

of sales

2outside Southeast(3)

Market share (1)

61 stores

182k sqm of sales área

189 stores

78

3

5

23

2

Market Share

Gains

in 1H21(2)

10k employees

6 states

Source: Nielsen

Notes: (1) National Market Share according to Nielsen between 2014 to 2019; (2) According to Nielsen; (3) in 2020; (4) until August/2021

836k sqm of sales area

50k employees

23 states

10 distribution centers

11 regional offices with autonomy

5 inaugurations(4)

+

23 stores under

construction 3

ASSAÍ IS THE SECOND LARGEST RETAIL PLAYER IN BRAZIL AND THE FASTEST-GROWING PURE CASH & CARRY PLAYER

Retail Ranking	Food Retail Ranking
Gross Revenues (2020) - R$ bn	Gross Revenues (2020) - R$ bn

74.8

39.4

36.1 34.5

31.0

24.9

14.4 13.0 12.6

10.3 10.0 9.4

(1)

(2)

(4)

74.8

Largest and

Fastest-Growing	39.4
pure Cash & Carry

							31.0
							24.9
							14.4
			6.5	8.8	9.0	9.0	9.4
2.7	3.0	4.6

Atakadão Atakarejo

CSD Varejo

Mart Minas

Makro Atacadista

Grupo Pereira

Supermerca dos BH

Grupo Muffato

Cencosud

Grupo Mateus

Grupo Big

GPA

Assaí

Carrefour

20th

18th …13th…10th (3)

9th

8th

7th

6th

5th

4th (2)

3rd (1)

2nd

1st

30%

12%

27%

(4%) (3)

15%

18%

14%

3%

27%

(4%)

3%

25%

15%

CAGR17-20
Source: Companies' data and ABRAS.	4
Notes: (1) Ex-Assaí and Éxito; (2) Considers information disclosed in Material Fact by the Carrefour Group; (3) Revenues in 2019; (4) Revenues in 2020 released to the public in a press release format. The audited Financial Statements have not been published.

Largest segment...

... share ...

C&C increased

26.7%

in 2020

(vs. 13% Super/Hyper)	+611
	C&C stores in the
	last 4 years
	(vs. 314 in the last
... preference...	15 years)

... growth

65%
of Brazilian
households	Assaí improved
shop in C&C

30%

in 2020

Source: NielsenIQ - August 2021

CASH & CARRY SEGMENT INCREASES RELEVANCE WHEN COMPARED TO FOOD RETAIL

Cash & Carry Relevance in Food Retail

9.0%					8.8%			8.5%	8.5%
26.3%	26.7%			25.2%	23.0%
27.0%	25.5%			26.2%	25.5%
37.7%	39.0%			40.1%	43.0%
	jan/20				jun/20		dec/20		jun/21
					C&C			Super		Hyper			Proximity

Penetration by Channel in Brazilian Homes

	65%	65%	65%
58%	60%
	62%	62%	60%
59%
55%
41%	46%	45%	44%
37%
	30%		27%
26%	26%	26%

2017	2018	2019		2020	YTD 2021
	Hyper	Super	Proximity		C&C

5