Sendas Distribuidora (ASAI3) Corporate presentation summary

Market position and operating scale

• Described as Brazil’s largest and most present food retailer, with a retail-sector brand value of R$12 billion and ~40 million customer visits per month.

• Household penetration in Greater São Paulo is ~60%; B2C contributes 58% of sales and B2B 42%.

• 313 stores across 24 states as of Aug 2026, with 1.6M+ sqm of sales area, 8 distribution centers and 90K+ employees.

• 2024 monthly sales per sqm ranked highest in cash and carry at R$4.4K, versus R$4.2K for the next-ranked operator.

• More than 3.7K suppliers, 60% regional, supported by 28 purchasing cells and regionalized assortments, pricing and communication.

Commercial model and growth priorities

• Revenue increased from R$46B in Dec 2021 to R$85B in Dec 2025, up 86%; expansion was financed by operating cash generation.

• 2026 priorities include controlled expansion, deleveraging, productivity and margin improvement, plus using existing store capacity to grow revenue and dilute costs.

• Meu Assaí had 16M users; app customer base grew 20% in 2Q26 and last-mile sales rose 237% YoY.

• Assaí Farma opened its first store in July 2026; 3 stores were operating by Aug 11, with 25 targeted by year-end and 250 potential long-term locations.

• Private-label strategy uses Assaí and Chef brands for distinct B2C and food-service propositions, targeting customer loyalty, stronger value and margin improvement.

2Q26 performance and financial position

• Gross revenue was R$21.4B, up 2.4%; same-store sales rose 0.9%, same-store market share gained 0.3 p.p. and traffic grew 3.4%.

• Adjusted EBITDA was R$1.071B, down 0.7%, with a 5.59% pre-IFRS 16 margin, down 0.07 p.p.; gross margin rose 0.4 p.p.

• Recurring pre-IFRS 16 net income reached R$344M, up 93.6%; reported pre-IFRS 16 net income was R$537M.

• LTM operating cash generation was R$3.3B; net debt plus discounted receivables fell R$1.4B, and leverage declined to 2.37x.

• Cash availability reached R$7.0B in 2Q26; 2026 CAPEX is planned at ~R$700M, including ~5 store openings.