Sendas Distribuidora S A : Institutional Presentation - May/23

INSTITUTIONAL PRESENTATION

May 2023

Largest pure player Cash & Carry with consistent growth

Gross Sales

Retail Leadership

2nd largest

retailer in Brazil

National Footprint

266

Stores

23 states & Federal District

+8pp

of market share in the last 6 years

One of the Largest(1) Companies in Brazil

21st Place

The 15th most valuable

brand in Brazil(2)

							(R$ billion)					47 conversions
														concluded
														66
														hypermarket
														commercial
											Approval of Pension	points acquired
		New Strategy and Management						Reform			59.7
			New store format
											Jair Bolsonaro		Spin-off
						#Quarentou			Election
						Assaí is 40 Years old			Truck Drivers			45.6
		Increases to					Impeachment of		Strike		39.4
		100% stake					Dilma Rousseff
			in Assaí					Protests in favor of
										30.4
							Dilma's Impeachment
	New		Dilma Rousseff				Dilma Rousseff			24.9
	States					Re-election							27.0%
		Election						20.1
									15.7					CAGR
								11.3
							9.0						2011-2022
						6.8
			3.3	4.3	5.1
	1.5	2.2
2007	2008	2009	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022

# Stores	15	28	40	57	59	61	75	84	95	107	126	144	166	184	212	263
EBITDA Margin(3)	-	-	-	-	-	-	-	5.1%	5.3%	5.6%	6.5%	6.8%	7.0%	7.5%	7.9%	7.2%
Revenue/store (R$mm)		55	58	60	77	86	93	110	122	148	160	173	183	214	215	227

(1) Considering sales in 2021, according to Exame; (2) Ranking Brand Finance Brasil 100 - Época Negócios; (3) Adjusted EBITDA - post IRFS 16	2

Continuous expansion of national footprint boosted by a strong execution capacity

61 stores		2023	1
182k sqm of sales area		+205	3
10k employees		Stores
6 states	+17	1

1

7

1

	2
3	13	3
	5	5
	1	12

2012

States

2

2

6

1

6

9 1

	1	5
23	5

266 stores +1,3M sqm of sales area

+70k employees

4

102

3

9

6

33

2

23 States

12 Distribution Centers

11 regional offices with autonomy

Record

Expansion in

2022

+60 stores

3

Assaí is the 2nd largest retailer in Brazil and the fastest-growing pure Cash & Carry player

Retail Ranking

Gross Revenues (2022) - R$ bn

Food Retail Ranking

Gross Revenues (2022) - R$ bn

108.1

Largest and

108.1

59.7

45.2

36.4

24.6

18.5 17.8

(1)

Source: Companies' data and ABRAS.

(1) GPA exc. Éxito.

14.3

11.1

Fastest-Growing59.7

pure Cash & Carry

									24.6
							14.0	18.5
		7.7	8.3	11.1	11.2	12.0
3.8	4.3
Comercial Zaragoza	Superm. Líder	EPA	Mart Minas	Cencosud	Grupo Pereira	Grupo Muffato	Superm. BH	GPA	Grupo Mateus	Assaí	Carrefour
22nd	...19th ... 10th	9th	8th	7th	6th	5th	4th (1)	3rd	2nd	1st
11%	7%	15%	19%	1%	11%	12%	15%	1%	21%	18%	10%

4

Cash & Carry segment increases relevance when compared to food retail

Cash & Carry Relevance in Monthly Purchases			Market Share - Food Retail
36%			(Dec/22)				Nielsen Perimeter (3) (Dec/22)
		22%				Market
				18%			46.1%	26.3%	19.6%	8.1%
						Share:
					12%
						8%
						4%
	Other ¹		C&C	Bar ²	Super	Hyper Proximity
								8.4 p.p.

Penetration by Channel in Brazilian Homes

(Dec/22)

	Last 36
71%	months (4)	:

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

65% 66%

62%	61%
45%	43%
26%	24%

64%	-0.7 p.p.		-0.9 p.p.
38%
21%		-6.7 p.p.
	C&C	Super	Hyper	Proximity

2017 2018 2019 2020 2021 2022

C&C Super Hyper Proximity

Source: NielsenIQ	5
(1) Small grocery stores and Super and Hypermarket that do not belong to large Groups; (2) mainly related to beverage distributors; (3) Only considers brands that reports to Nielsen; (4) From Jan/2020 to Sep/2022