Sendas Distribuidora Sa · BMFBOVESPA:ASAI3
Sendas Distribuidora Sa — Q4 2025 Earnings Presentation
14 slides from Sendas Distribuidora Sa's earnings presentation, Feb 12, 2026
Slide 1: Earnings Results 4th Quarter 2025
EARNINGS RESULTS 4 TH QUARTER 2025 FEBRUARY 12 TH , 2026
Slide 2: Free Cash Generation of R$2.8 billion and leverage of 2.56x (vs guidance of 2.60x)
Free Cash Generation of R$2.8 billion and leverage of 2.56x (vs guidance of 2.60x) Gross profit optimization, focus on expense control, and financial discipline 2025 4Q25 • Free Cash Generation: R$ 2.8 billion Sales Cash and • 84% EBITDA to cash conversion Leverage • 2.56x, below guidance (2.60x) •
Slide 3: Leverage below guidance and at the lowest level since 2021
Leverage below guidance and at the lowest level since 2021 Commitment to consistent cash generation Cash Generation Leverage (R$ Billion ) Contractual Covenants : 3.0x Net Debt (1) 2024 12.5 -1.29x Contractual Operating Cash Generation 3.7 Covenants Ratio 4,37x in 4Q25 (1): 1.19x Capex -0.9 3,85x 3,
Slide 4: Assaí continues to evolve the model to capture market trends
Assaí continues to evolve the model to capture market trends Strengthening the value proposition to better serve customers Assortment Adaptation Assaí is the largest seller of proteins in South America (1) Butcher shop + cold cuts emporium = 5% of Assaí's total sales Growth Avenues Financial Health
Slide 5: Assaí Digital: new partnership with Mercado Livre and expansion of last-mile
Assaí Digital: new partnership with Mercado Livre and expansion of last - mile Greater convenience for Assaí customers Assaí Digital New Partnership : Mercado Livre Last Mile Partnerships • Assaí's debut in the marketplace through • Expanding the partnership with iFood the fulfillment model • From 5
Slide 6: In & Out: Launch of around 30 categories in 2026
In & Out: Launch of around 30 categories in 2026 Leverage the flow of 40 million monthly customers to increase share of wallet IN & OUT Opportunity Limited Time Unbeatable prices Items Offers 6
Slide 7: Private Label strengthens positioning with customers and industry
Private Label strengthens positioning with customers and industry Developing more cost - effective products Private Label Products offering Launch in ~200 SKUs in Margin similar quality to 1Q26 in Focus on the high -penetration Improvement leading brands with São Paulo Chef and products by the lower
Slide 8: Health & Wellness (“Mundo Saúde”) benefits from Assaí's strategic position
Health & Wellness (“Mundo Saúde”) benefits from Assaí's strategic position Leverage the flow of 40 million monthly customers to increase share of wallet Health & Assaí Farma Wellness • Pilot with 25 stores in 2H26 Daily Energy & Supplements • Strategic in-store location • Greater focus and the creat
Slide 9: Financial Services – FIC transaction
Financial Services – FIC transaction Flexibility to expand financial services ecosystem 2004 2020 2026 Creation of FIC - GPA vs Assaí Approval of the Joint venture spin-off Spin -off by the GPA and Itaú Central Bank 2017 2025 2028 Launch of the Spin -off of FIC New Financial Termination of Passaí Ca
Slide 10: Expanding the financial services ecosystem
Expanding the financial services ecosystem Greater adherence to the Company's public Financial After approval by the Central Bank, Assaí can immediately explore new products Services New Financial Solutions Private Label Card Insurance Assists Consortium Digital Solutions Business (B2B) Account POS
Slide 11: Initiatives aimed at operational efficiency and greater value creation
Initiatives aimed at operational efficiency and greater value creation Use of technological tools with embedded AI and automated solutions Remote Supervisor Purchasing, Supply and Pricing • Remote call center Management • Greater agility in service • Recommendation by product in store • 2’30’’ → 22’
Slide 12: We promote prosperity and achieve important recognitions
We promote prosperity and achieve important recognitions ESG Advances Awards and Recognitions Efficient Operations : Consumidor Moderno • 46% waste reuse (+2.8p.p.) • For the 6th time elected as the company that • 93 stores with solar energy self -production most respects the consumer Ethical and Tr
Slide 13: Q&A
Q&A Para fazer perguntas, clique no ícone Q&A na parte inferior da tela. Escreva seu NOME, EMPRESA e IDIOMA da pergunta a ser feita . Ao ser anunciado, uma solicitação para ativar seu microfone aparecerá na tela e, então, você deve ativar o seu microfone para fazer perguntas . Orientamos que as perg
Slide 14: Thank You
THANK YOU Investor Relations Team ri.assai@assai.com.br / ri.assai.com.br