Sendas Distribuidora (ASAI3) Investor presentation summary

Scale and market position

• 316 stores and 40M monthly customers; operations span 24 states plus Brasília and 140 cities, with 90k employees.

• Sales share gained 6 p.p. from 2021 to 2025; the presentation equates customer gains to 18M people.

• Cash & Carry accounts for 52% of a R$630B market; channel share was 52% in YTD26 through September.

Consumer and market context

• Household debt reached 81.7% in 3Q26, while household spending growth was 0.2%; higher debt commitments are squeezing disposable income.

• Customers are trading down, seeking alternatives and promotions, and shifting channels to manage grocery budgets.

• The presentation identifies GLP-1 use as a basket-shaping trend: surveyed households reported higher greens and animal-protein consumption and lower sweets and snack consumption.

Growth avenues

• Private label spans 4 segments and 140+ products in 118 São Paulo stores, with a target of 250 products by Dec 2026; selected items were 15%–20% cheaper and delivered 5–8.5 p.p. higher gross margin.

• Assaí Farma opened its first store in Jul 2026; 11 stores were open, with a 25-store target by Dec 2026 and a longer-term ambition of 250 pharmacies.

• Fuel and EV charging plans leverage existing sites and traffic; in-house operations are planned at up to 45 stores in 2027, with EV charging potential of 3.8M vehicles served annually.

• In & Out categories use supplier partnerships across 5 non-food categories; supplements reached 300 stores in under a year, with dedicated displays planned to expand from 40 to 200 stores in 1Q27.

• Financial services plans include proprietary cards, Assaí Pay and cashback; the 10-year goal is to triple results, with proprietary cards projected at 15%–18% of sales.