Sendas Distribuidora S.A. (NYSE:ASAI) Q1 2023 Earnings Conference Call May 5, 2023 10:00 AM ET Company Participants Gabrielle Helu - Investor Relations Director Belmiro de Gomes - Chief Executive Officer Daniela Sabbag - Chief Financial Officer Wlamir dos Anjos - Logistics and Commercial VP Anderson Castilho - Operational VP Conference Call Participants Andrew Ruben - Morgan Stanley Operator [starts abruptly] during the call regarding business perspectives, forecasts and operational targets at Asai represen ...

As filed with the Securities and Exchange Commission on March 14, 2023. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSU ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION _____________________ _____________________ Washington, D.C. 20549 FORM 6-K Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934 For the month of March 2023 Commission File Number: 001-39928 Sendas Distribuidora S.A. (Exact Name as Specified in its Charter) Sendas Distributor S.A. (Translation of registrant's name into English) Avenida Ayrton Senna, No. 6,000, Lote 2, Pal 48959, Anexo A Jacarepaguá 22775-00 ...

Financial Data and Key Metrics Changes - The company reported a revenue of BRL16 billion in Q4 2022, doubling sales compared to 2019, and a total revenue of BRL54.5 billion for the year, reflecting a growth of 31% [9][10] - Adjusted EBITDA for Q4 2022 was BRL1.3 billion, with an EBITDA margin of 7.7% when excluding pre-operational expenses, while the annual EBITDA reached BRL3.9 billion with a margin of 7.2% [23][24] - The net profit for Q4 was BRL406 million, with a margin of 2.5%, and for the year, it was BRL1.2 billion with a margin of 2.2% [30] Business Line Data and Key Metrics Changes - The company opened 60 new stores in 2022, including 13 organic stores and 46 converted hypermarkets, contributing to a significant increase in customer flow and sales [16][17] - Gross profit for Q4 was BRL2.7 billion, with a total of BRL9 billion for the year, indicating stability in gross margins despite the expansion efforts [13][24] Market Data and Key Metrics Changes - The company gained over 2% market share nationally in Q4, with a notable 5 percentage point increase in the State of Sao Paulo, reflecting strong performance in a competitive market [11][12] - The average sales per square meter increased from BRL4,500 to BRL4,700, demonstrating effective commercial strategies [11] Company Strategy and Development Direction - The company aims to continue its expansion with plans for 40 new store openings in 2023, focusing on converting Extra hypermarkets and maintaining a strong investment strategy [32][33] - The management emphasized the importance of maintaining low operational costs while enhancing customer experience and expanding product assortment [19][21] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing a potential decrease in inflation and its positive impact on consumer purchasing behavior, which could lead to increased sales [34][35] - The company is focused on improving governance and ensuring the security of minority shareholders, with plans for board renewal and enhanced policies [39] Other Important Information - The company has made significant investments in logistics, opening three new distribution centers and increasing storage capacity by 40% to support its expansion [14] - The company was recognized for its social responsibility efforts, including inclusion in the ISE Index for sustainability and the establishment of the Assai Institute for social projects [31] Q&A Session Summary Question: Concerns about the impact of food inflation on same-store sales - Management acknowledged concerns but highlighted that a trade-down effect could benefit sales as consumers adjust their purchasing behavior in response to inflation [41][42] Question: Governance and board renewal plans - Management confirmed that governance improvements are underway, with a focus on aligning with the controlling shareholder and renewing the board to enhance corporate governance [42][43] Question: Impact of supplier relationships on gross margins - Management indicated that ongoing negotiations with suppliers are expected to positively impact profitability and working capital levels [49][50] Question: Capitalized interest and its impact on profits - Management explained that capitalized interest is a standard accounting practice and will decrease as store openings progress, with expectations for reduced impact in the coming months [53][60] Question: Performance in B2B and B2C channels - Management noted a shift towards more end consumers in the customer mix, with expectations for increased B2C sales in converted stores [65][66] Question: Lessons learned from service and assortment initiatives - Management confirmed that lessons learned from previous initiatives have informed changes in new store conversions, enhancing customer experience and service offerings [71][72]

EARNINGS RELEASE 4 th QUARTER 2022 February 16th, 2023 SOLID OPERATIONAL PERFORMANCE WITH RESULTS ABOVE EXPECTATIONS Higher-than-expected profitability and significative market share gains RECORD EXPANSION: 60 new stores in 2022 (above initial guidance of 52 stores) 263 stores in operation +36% of sales areas R$ 4.5 bi Investments GROSS SALES: ~R$ 60 billion in 2022 Robust growth: +31% Strong performance of converted stores and solid SSS ADJUSTED EBITDA: ~R$ 4 bi in 2022 Successful commercial strategy Opera ...

Sendas Distribuidora S.A. (NYSE:ASAI) Q2 2022 Earnings Conference Call July 28, 2022 10:30 AM ET Company Participants Gabrielle Helú - Director, IR Belmiro de Gomes - CEO Daniela Sabbag - CFO Wlamir dos Anjos - VP, Commercial and Logistics Conference Call Participants Danniela Eiger - XP Luiz Guanais - BTG Ruben Couto - Santander Thiago Macruz - Itaú BBA Felipe Cassimiro - HSBC João Soares - Citi Vinicius Strano - UBS Joseph Giordano - JPMorgan Irma Sgarz - Goldman Sachs Vinicius Strano - Bank of America An ...

Sendas Distribuidora S.A. (NYSE:ASAI) Q1 2022 Results Conference Call May 10, 2022 10:00 AM ET Company Participants Gabrielle Helú - Director, IR Belmiro Gomes - CEO Daniela Sabbag - CFO Wlamir dos Anjos - VP, Commercial and Logistics Anderson Castilho - VP, Operations Conference Call Participants Danniela Eiger - XP Felipe Cassimiro - HSBC João Soares - Citi Felipe Rached - Goldman Sachs Joseph Giordano - JP Morgan Operator Good morning, everyone, and thank you for waiting. Welcome to the Earnings Call for ...

Market Risks and Financial Instruments - The company is exposed to market risks from changes in foreign currency and interest rates, with a treasury policy designed to manage these risks [710]. - A substantial part of the company's U.S. dollar-denominated liabilities has been swapped to obligations denominated in reais, utilizing cross-currency interest rate swaps [712]. - The company engages in derivative financial instruments to mitigate risks caused by fluctuating currency and interest rates, with realized and unrealized gains and losses included in financial income and expense [713]. ADR and Depositary Services - The Sendas common shares trade in the form of American Depositary Shares (ADS) on the NYSE since March 8, 2021 [714]. - The depositary will distribute cash dividends or other distributions to ADR holders after converting any cash received into U.S. dollars, subject to necessary deductions [721]. - In the case of share distributions, the depositary will issue additional ADRs to represent the number of ADSs corresponding to the shares [724]. - The depositary may sell rights to subscribe for additional shares if it cannot lawfully distribute such rights, distributing net proceeds as cash to ADR holders [724]. - The company may make elective distributions available to ADR holders, contingent on timely requests and the depositary's determination of practicability [727]. - The deposit agreement and related documents are governed by New York law, with any legal proceedings to be instituted in New York courts [719]. - The depositary will issue ADSs upon the deposit of shares and payment of associated fees [730]. - ADR holders have no direct ownership interest in the deposited shares, only rights as per the deposit agreement [731]. - The depositary may charge $5.00 for each 100 ADSs issued or surrendered, along with additional fees for various services [746]. - A fee of up to $0.05 per ADS may be charged for cash distributions or elective dividends [747]. - The depositary is not responsible for currency conversion at specified rates or for the timely completion of transactions [729]. - ADR holders may instruct the depositary on how to exercise voting rights for underlying shares [741]. - The depositary will provide periodic statements showing the number of ADSs registered in the ADR holder's name [735]. - The depositary may restrict the withdrawal of deposited securities under certain conditions, such as temporary delays or compliance with laws [736]. - Fees for foreign currency conversion and other governmental charges may apply [749]. - The depositary may engage in foreign exchange transactions to convert foreign currency into U.S. dollars for distributions [750]. - For the year ended December 31, 2021, the company received reimbursements from the depositary totaling US$1 million [755]. - The depositary may collect fees for issuance and cancellation of ADSs directly from investors or intermediaries, and these fees may vary over time [754]. - ADR holders are responsible for paying any taxes or governmental charges related to their ADSs, and the depositary has the right to seek payment from any current or prior ADR holder [756]. - The deposit agreement allows for amendments without consent, provided ADR holders receive at least 30 days' notice for any fee increases [761]. - The depositary may terminate the deposit agreement under specific circumstances, including bankruptcy or if the shares cease to be listed on a recognized stock exchange [765]. - The depositary may refuse to provide services to ADR holders who have not paid outstanding fees and expenses [754]. - The depositary can deduct taxes from cash distributions or sell deposited securities to cover any unpaid taxes owed by ADR holders [756]. - The company may agree with the depositary to amend the deposit agreement without ADR holder consent for necessary compliance with laws [762]. - The depositary may suspend the issuance of ADRs under certain conditions, such as temporary delays or compliance with regulations [767]. - ADR holders agree to indemnify the depositary against claims related to taxes or governmental charges arising from their holdings [757]. Internal Control and Financial Reporting - The company reported a material weakness in internal control over financial reporting as of December 31, 2021, due to inadequate controls related to the interpretation and application of complex accounting matters [791]. - Management identified deficiencies that did not allow for the timely detection of immaterial misstatements in asset classification and cash flow statements [792]. - The company is committed to improving internal control processes to ensure compliance with the Sarbanes-Oxley Act and SEC rules [793]. - Remedial actions will include evaluating the involvement of technical specialists to mitigate future errors related to unusual transactions [793]. - Internal control over financial reporting is designed to provide reasonable assurance regarding the reliability of financial reporting in accordance with IFRS [788]. - The company maintains policies to ensure transactions are recorded accurately and in accordance with appropriate authorizations [789]. - There is a risk that controls may become inadequate due to changes in conditions or deterioration in compliance with policies [790]. - The company will continue to review financial reporting controls and procedures diligently [793]. - The assessment of internal control effectiveness was based on the COSO framework established by the Treadway Commission [791]. - The company acknowledges that internal controls can only provide reasonable assurance and may not prevent all misstatements [790]. - No changes in internal controls over financial reporting during the reporting period that materially affected internal control [795]. - The company plans to implement remediation procedures in 2022 to address identified material weaknesses [795]. - Luiz Nelson Guedes de Carvalho is recognized as an audit committee financial expert, meeting SEC and NYSE independence requirements [797].