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    ASAI3   BRASAIACNOR0

SENDAS DISTRIBUIDORA S.A.

(ASAI3)
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Sendas Distribuidora S A : Presentation about the Material Fact - Assaí

10/15/2021 | 08:42am EST

Transaction Involving Conversion of Extra Hiper Stores

OCTOBER, 2021

DISCLAIMER

This presentation ("Presentation") was prepared by Sendas Distribuidora S.A. ("Company") and contains operational and financial information prepared by the Company and publicly available information to assist and contextualize the analysis of a potential transfer of certain commercial establishments to the Company ("Analysis"). The transaction remains subject to certain conditions precedent, including the negotiation of definitive agreements and approval by the corporate boards of the parties pursuant to their relevantpolicies for related-party transactions.

This Presentation was prepared solely for informative purposes and does not seek to serve as a basis for any investment decision and does not constitute an offer or invitation for the purchase and sale of securities or financial instruments, or a legal, tax, accounting opinion or investment recommendation. Its recipients shall conduct their own investigation and analysis and the data set forth in this Presentation, as well as consider the advice of financial, legal, accounting, tax and other business advisors and such other factors which may be appropriate in relation to the Analysis.

This Presentation does not purport to be all-inclusive or to contain all information that the recipient may need for a complete, consistent and accurate evaluation of the transaction. No investment or financial decision should be based solely on the information contained herein.

The simulations and trends use historical data and, therefore: (i) are not error-free; and (ii) the accuracy of the results obtained depends on external public or private sources of information, which are solely responsible for the data provided.

The market data and competitive data information used in this Presentation was obtained from internal and external research, public documents and market data. The Company has not independently verified market share or any other data obtained from third parties.

This Presentation is exclusively valid on this date, as future events may change the assumptions, conclusions and information provided herein. The Company has no obligation to update, revise, rectify or to rescind this Presentation due to any subsequent occurrence. The Company has no obligation to implement the plans and procedures hereby discussed or be responsible by the failure of any negotiations or operations in respect to this Presentation. Any estimate of what

may occur in the future is based on the Company's best judgement as well as publicly available information on the date of this Presentation.

There shall be no guarantee of future profitability or achievement of goals, revenues or gains of synergies. Actual results may vary from those earned historically and such variations may be significant. No information contained in this

Presentation is or will be a promise or statement as to the past or future. The Company is not responsible for any information related to or resulting from the use of this Presentation.

No tacit or express statement or guarantee is hereby being provided and neither the Company nor any of its respective officers, board members, employees, designees, advisors, agents, shareholders or representatives assume nor comb

shall assume any liability as to or with respect to the completeness or accuracy of this Presentation or that of any other information, written or oral, which is made available to the recipient. Consequently, any liability for such statements

or guarantees is expressly denied, specifically with regard to any statements or guarantees concerning the attainmentof any future projections, estimates of the management, prospects, indicators or returns.

The Company does not assume responsibilities for the completion of the Analysis described hereto and its content shall not be presumed as a financial, tax or legal advice.

This Presentation is owned by the Company, which does not allow any republication, disclosure or transmission thereof to third parties, in whole or in part, without prior written authorization of the Company, except for the cases required

by law.

THIS PRESENTATION IS NOT INTENDED FOR USE IN PUBLIC COMMUNICATION VEHICLES SUCH AS NEWSPAPERS, MAGAZINES, RADIO, TELEVISION, OPEN INTERNET PAGES, SOCIAL NETWORKS OR IN ESTABLISHMENTS OPEN TO THE PUBLIC.

The delivery of this Presentation does not assume or create any obligation for the Company with respect to the recipient. No decision has yet been taken by the Company with respect to the Analysis, the Company reserves the right to cease discussions with recipientof any aspectof the Analysis at any time, without prior notice and at its sole discretion.

All inquiries or requests for additional information shall be exclusively submitted or directed to the Company's Investor Relations Office.

2

Conversion of 71 commercial points, reaching 300 Assaí stores in 2023 including organic expansion

Potential of more than R$25 billion(1) Gross Revenues from converted

stores at maturity

Strategic commercial establishments in exceptional locations in

major cities and metropolitan regions

MAIN TRANSACTION

DRIVERS

Low cannibalization with Assaí current stores given the past common strategy of the two brands and the real estate barrier

~R$100 billion estimated Gross

Acceleration of the expansion

Revenue in 2024

pace, mainly in higher income

classes, with less legal approval

complexity

Rapid maturation with established and well-known

+420k sqm of sales area(2),

+49.8% the current area(3)

Proven and successful model of organic expansion and conversions: +150 stores opened in the last decade, 25 conversions in the last 5 years

Source: Company Information

Notes: (1) Based on the Company's past experience in converting stores, as explained on

Commercial establishments with high potential of profitability

commercial points for more than 20 years

End consumer migration to C&C format (+5 p.p. of share(4)) and

agility gain for the local economy

due to the proximity of the stores to large centers

page 6 of the presentation; (2) Sales area of the current stores inExtra Hiper format; (3) Based on the current sales area of 847 sqm as of Sep/21; (4) Considers the last 18

3

months, according to Nielsen

IRREPLICABLE STORES IN PRIME LOCATIONS

SUBTÍTULO

3

2

1

2 2

1

3 2

51

1

3

2

33 8

2

16

States

~62%

Stores in

Capitals

63 Stores

in Large

Metropolitan

Areas

~50%

Stores in

SP

Conversion plan for

the 71 Extra stores

R$ 8.7 bi

~3x

R$ 25.0 bi

Gross

Uplift(2)

Gross Revenues in

~40 stores in 2022

Revenues(1)

the maturity(2)

~30 stores is 2023

Note: (1) Extra Hiper 7M21LTM gross revenues (does not consider revenues from gas station); (2) Based on the Company's past experience

4

in converting stores, as explained on page 6 of the presentation

STORES IN DENSELY POPULATED URBAN AREAS

FACILITATING THE ACCESS FOR B2B AND B2C CUSTOMERS

Campinas - São Paulo State

Salvador - Bahia State

1 00m

1 00m

Accelerated store ramp-up and protection of the most profitable markets

5

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Sendas Distribuidora SA published this content on 15 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 October 2021 12:41:02 UTC.


© Publicnow 2021
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Sales 2021 42 814 M 7 575 M 7 575 M
Net income 2021 1 240 M 219 M 219 M
Net Debt 2021 8 490 M 1 502 M 1 502 M
P/E ratio 2021 14,6x
Yield 2021 1,41%
Capitalization 17 908 M 3 167 M 3 168 M
EV / Sales 2021 0,62x
EV / Sales 2022 0,51x
Nbr of Employees 50 000
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Chart SENDAS DISTRIBUIDORA S.A.
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Sendas Distribuidora S.A. Technical Analysis Chart | ASAI3 | BRASAIACNOR0 | MarketScreener
Technical analysis trends SENDAS DISTRIBUIDORA S.A.
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 11
Last Close Price 13,30 BRL
Average target price 22,42 BRL
Spread / Average Target 68,6%
EPS Revisions
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Belmiro de Figueiredo Gomes Chief Executive Officer
Daniela Sabbag Papa Director-Administration, Finance & IR
Jean-Charles Henri Naouri Chairman
Anderson Barres Castilho Operations Director
Luiz Nelson Guedes de Carvalho Independent Director
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