Sendas Distribuidora voluntarily delisting ADSs from NYSE

Sendas Distribuidora’s (ASAI) board approved the intention of the company to proceed with the voluntary delisting of its American Depositary Shares, or ADSs, each representing five common shares of the company and represented by American Depositary Receipts or ADRs, from the NYSE, including the change of the company’s ADR program to Level 1, in order to enable investors to maintain ownership of their ADSs, which may be traded on over-the-counter markets after the delisting, as applicable, and deregistration with the SEC, once the company complies with the applicable deregistration requirements. The company considers that maintaining a secondary listing on the NYSE is not currently beneficial, given that trading of the company’s common shares is around 87% on Brazil’s Novo Mercado. The company intends to file a Form 25 with the SEC seeking to make the delisting effective by January 9, 2025. The company expects immediately following the Delisting, the ADSs will begin to trade over-the-counter.