FORM 6-K

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934

For the month of February, 2021

           Brazilian Distribution Company           
(Translation of Registrant’s Name Into English)

Av. Brigadeiro Luiz Antonio,
3142 São Paulo, SP 01402-901
     Brazil     
(Address of Principal Executive Offices)

        (Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F)

Form 20-F   X   Form 40-F       

        (Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule
101 (b) (1)):

Yes ___ No   X  

(Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule
101 (b) (7)):

Yes ___ No   X  

        (Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.)

Yes ___ No   X  

Companhia Brasileira de Distribuição   Consolidated Financial Statements Year ended December 31, 2020

Companhia Brasileira de Distribuição   Consolidated Financial Statements Year ended December 31, 2020

INDEPENDENT AUDITOR’S REPORT ON INDIVIDUAL AND CONSOLIDATED FINANCIAL STATEMENTS

To the Shareholders, Board of Directors and Officers

Companhia Brasileira de Distribuição

São Paulo - SP

Opinion

We have audited the individual and consolidated financial statements of Companhia Brasileira de Distribuição (“Company”), identified as Individual and Consolidated, respectively, which comprise the statement of financial position as at December 31, 2020, and the statements of profit or loss, of comprehensive income, of changes in equity, and of cash flows for the year then ended, and notes to the financial statements, including a summary of significant accounting policies.

In our opinion, the individual and consolidated financial statements referred to above present fairly, in all material respects, the individual and consolidated financial position of the Company as at December 31, 2020, and its individual and consolidated financial performance and cash flows for the year then ended, in accordance with accounting practices adopted in Brazil and with the International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB).

Basis for opinion

We conducted our audit in accordance with Brazilian and International Standards on Auditing. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the individual and consolidated financial statements section of our report. We are independent of the Company and its subsidiaries in accordance with the relevant ethical principles set forth in the Code of Professional Ethics for Accountants and the professional standards issued by Brazil’s National Association of State Boards of Accountancy (CFC), and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Emphasis of matter - Restatement of corresponding figures due to spin-off of the subsidiary Sendas Distribuidora S.A.

As mentioned in Note 2, as a result of the spin-off of the subsidiary Sendas Distribuidora S.A. at December 31, 2020, the corresponding figures referring to the prior-year consolidated statements of profit or loss and of value added, presented for comparison purposes, were adjusted and are being restated, as provided for in Accounting Pronouncement NBC TG 31/IFRS 5 - Noncurrent assets held for sale and discontinued operations. Our opinion is not modified in respect of this matter.

Companhia Brasileira de Distribuição   Consolidated Financial Statements Year ended December 31, 2020

Key audit matters

Key audit matters are those that, in our professional judgment, were of most significance in our audit of the financial statements of the current year. These matters were addressed in the context of our audit of the individual and consolidated financial statements as a whole, and in forming our opinion thereon, and we do not provide an individual opinion on these matters. For each matter below, our description of how our audit addressed the matter, including any commentary on the findings or outcome of our procedures, is provided in that context.

We have fulfilled the responsibilities described in the Auditor’s responsibilities for the audit of the individual and consolidated financial statements section of our report, including in relation to these matters. Accordingly, our audit included the performance of procedures designed to respond to our assessment of the risks of material misstatement of the financial statements. The results of our audit procedures, including the procedures performed to address the matters below, provide the basis for our audit opinion on the accompanying financial statements.

Realization of State VAT (ICMS) credits

At December 31, 2020, the balance of State VAT (ICMS) credits totaled R$1,428 million in the individual statements and R$1,435 million in the consolidated statements, as disclosed in Note 10. The ICMS credit recoverability analysis was significant for our audit as the amounts of these credits are material in relation to the individual and consolidated financial statements as of December 31, 2020 and because the preparation of this analysis involves judgment by the Company management in determining the projections of future ICMS debts in its operations, including consideration of special taxation regimes. These projections could be impacted by future market and economic conditions.

How our audit addressed this matter:

Our audit included the following procedures, among others: i) understanding of the process implemented by management to prepare the annual analysis of recoverability of tax credits, including assessment of the design and operating effectiveness of internal control implemented by the Company referring to this annual process and to the preparation of projections used by management; ii) assessment of the reasonableness of the data used in the preparation of the annual tax credit recoverability analysis, including the mathematical accuracy of the calculations made in such analysis; iii) involvement of our indirect tax specialists in assessing the application of tax legislation and special taxation regimes for the projections used in the annual tax credit recoverability analysis; and (iv) review of the adequacy of the respective disclosures in the financial statements.

Based on the results of the audit procedures carried out on the annual tax credit recoverability analysis, which is consistent with management's assessment, we consider that the criteria and assumptions associated with the recoverability of the ICMS credits adopted by management, as well as the respective disclosures in the explanatory notes, are acceptable, in the context of the financial statements taken as a whole.

Companhia Brasileira de Distribuição   Consolidated Financial Statements Year ended December 31, 2020

Tax contingencies assessed as possible loss

As disclosed in Note 22.6, the Company is a party to administrative and judicial proceedings arising from various tax contingencies, totaling R$10,081 million, for which no provision was recorded as at December 31, 2020, given that the likelihood of loss was assessed as possible based on the information available on that date.

Management uses significant judgment to determine whether the technical arguments used by the Company are more likely than not to be successful in the judicial discussion of such proceedings in court, considering the complexity of the tax environment in Brazil and the absence of case law on certain tax matters. In this assessment, management counts on the assistance of external legal advisors.

Management's assessment of the likelihood of loss of tax contingencies was significant for our audit as it is complex and involves significant judgment based on interpretations of tax legislation and legal rules.

How our audit addressed this matter:

Our audit included the following procedures, among others: i) understanding of the process implemented by management, including assessment of the design and operating effectiveness of internal control implemented by the Company for identification, monitoring and evaluation of tax proceedings, to determine whether the technical arguments used by management are more likely than not to succeed in courts; ii) obtaining confirmation letters directly from the Company's external legal advisors and use of our knowledge and experience on application of tax legislation by tax authorities to evaluate the judgments made by the Company management regarding tax proceedings; iii) involvement of our tax specialists to evaluate the technical arguments presented by management and analysis of a sample of opinions or legal guidance from external advisors obtained by the Company; and (iv) review of the adequacy of the respective disclosures in the financial statements.

Based on the result of the audit procedures carried out on the judgments and assessments of the likelihood of loss on the tax proceedings rated as possible loss, which is consistent with management's assessment, we consider that the criteria and assumptions adopted to determine the likelihood of loss on such proceedings, as well as the respective disclosures in the explanatory notes, are acceptable, in the context of the financial statements taken as a whole.

Corporate reorganization

As disclosed in Note 1, at the General and Special Shareholders’ Meeting of the Company and its wholly-owned subsidiary Sendas Distribuidora S.A. ("Sendas"), held on December 31, 2020, shareholders of both companies approved the proposal for corporate reorganization previously approved on December 14, 2020 by the Board of Directors of both companies.

As a result of this corporate reorganization, the Company management deconsolidated the assets and liabilities of Sendas from consolidation and presented Sendas’ profit or loss as discontinued operations in the statement of profit or loss and in the corresponding prior-year period. This matter was considered significant for our audit due to the complexity arising from this corporate reorganization, the aspects related to accounting records, the adequate presentation of Sendas’ profit or loss as discontinued operations, and the appropriate disclosure in the explanatory notes.

Companhia Brasileira de Distribuição   Consolidated Financial Statements Year ended December 31, 2020

How our audit addressed this matter:

Our audit procedures included the following, among others: (i) review of the corporate reorganization agreement and all other related corporate legal documents; (ii) check of the accounting records and their consistency with the documents presented in the register of approval of general and special shareholders’ meetings; (iii) review of the technical accounting memoranda prepared by the Company management; and (iv) review of the adequacy of the respective disclosures in the financial statements.

Based on the result of the audit procedures carried out regarding the adequacy of the accounting treatment given to the Company's corporate reorganization, which is consistent with management's assessment, we consider that the recording of the transaction and the respective disclosures in the explanatory notes are acceptable, in the context of the financial statements taken as a whole.

Other matters

Statements of value added

The individual and consolidated statements of value added (SVA) for the year ended December 31, 2020, prepared under the responsibility of the Company management and presented as supplementary information for IFRS purposes, were submitted to audit procedures conducted jointly with the audit of the Company's financial statements. To form our opinion, we evaluated if these statements are reconciled to the financial statements and accounting records, as applicable, and if their form and content comply with the criteria defined by Accounting Pronouncement NBC TG 09 – Statement of Value Added. In our opinion, the individual and consolidated statements of value added were prepared fairly, in all material respects, in accordance with the criteria defined in the above-mentioned accounting pronouncement, and are consistent in relation to the financial statements taken as a whole.

Other information accompanying the individual and consolidated financial statements and the auditor’s report

Management is responsible for such other information, which comprise the Management Report.

Our opinion on the individual and consolidated financial statements does not cover the Management Report and we do not express any form of assurance conclusion thereon.

In connection with our audit of the individual and consolidated financial statements, our responsibility is to read the Management Report and, in doing so, consider whether this report is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of the Management Report, we are required to report that fact. We have nothing to report in this regard.

Companhia Brasileira de Distribuição   Consolidated Financial Statements Year ended December 31, 2020

Responsibilities of management and those charged with governance for the individual and consolidated financial statements

Management is responsible for the preparation and fair presentation of the individual and consolidated financial statements in accordance with accounting practices adopted in Brazil and with the International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB), and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the individual and consolidated financial statements, management is responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

Those charged with governance are responsible for overseeing the Company’s and its subsidiaries’ financial reporting process.

Auditor’s responsibilities for the audit of the individual and consolidated financial statements

Our objectives are to obtain reasonable assurance about whether the individual and consolidated financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with Brazilian and International Standards on Auditing will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with Brazilian and International Standards on Auditing, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

Companhia Brasileira de Distribuição   Consolidated Financial Statements Year ended December 31, 2020

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements, including applicable independence requirements, and communicated with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

From the matters communicated with those charged with governance, we determined those matters that were of most significance in the audit of the financial statements of the current year and are therefore the key audit matters. We described these matters in our auditor’s report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

São Paulo, February 23, 2021.

ERNST & YOUNG

Auditores Independentes S.S.

CRC-2SP034519/O-6

Clinton L. Fernandes

Accountant CRC-1SP205541/O-2

Companhia Brasileira de Distribuição   Consolidated Financial Statements Year ended December 31, 2020

Message from Management

2020 proved to be a year of many challenges and a new reality of life imposed by the global pandemic. However, we made important progress on strategic fronts that were decisive in consolidating the Group's footprint and business performance in South America.

We ended the period with approval for the spin-off of the Cash & Carry operation, which enabled the creation of two entirely independent companies - Assaí and GPA - and drive growth in their respective markets.

We retained our position as South America's largest food retail group, with a diversified portfolio of banners and brand leaders in Brazil, Colombia, Argentina and Uruguay.

However, the period demanded agility, resilience and adaptability, and our multichannel, multiformat and multiregional approach helped us to quickly adapt ourselves to the scenario. We brought forward initiatives in record time, maintaining the operation fully functional while ensuring the safety of our customers and employees.

At GPA, adjusting the portfolio of brick-and-mortar stores was one of the priority actions during the year: our new commercial actions at Extra Hiper were successful, with 23 stores already adapted and rollout planned for the remainder of the portfolio in 2021.

We practically concluded the conversions of Extra Super to Mercado Extra stores, with a more competitive positioning for the regional market. And Pão de Açúcar, which remains resilient, will move forward with the expansion of the main concepts of the G7 store model and the resumption of organic store openings in the second half of this year. Proximity stores demonstrated excellent adherence to the new consumption reality in which people seek neighborhood stores: expansion of the Minuto Pão de Açúcar format is among our priorities for 2021.

An important driver of building loyalty and profitability for the business, Private-Label Brands achieved 20% share of Brazil’s food business in the year, with new products and revised assortment, which resulted in a very high penetration of 80% among our customers.

It was a year of profound transformation in how we live and consume, and food e-commerce played an important role and received significant impetus from the expansion of our logistics solutions, backed by exclusive warehouses, stores dedicated to e-commerce and Click & Collect deliveries, as well as the last mile option.

Our e-commerce sales in 2020 surpassed R$1.1 billion, a threefold growth from the previous year, expanding its share of both the food business and the e-commerce market in Brazil. Our database of omnichannel customers, who consume on average 2.7 times more than customers who purchase only from brick-and-mortar stores, doubled in 4Q20 compared to 4Q19.

We took an important step towards consolidating the GPA digital platform with the launch of Marketplace last year. In 2021, we plan to significantly expand the assortment for both 1P and 3P, offering an increasingly more comprehensive purchase basket through our electronic channels.

Stix, the largest coalition rewards program in Brazil's retail sector, in partnership with Raia Drogasil, was another tool to build customer loyalty, alongside the existing loyalty programs Pão de Açúcar Mais and Clube Extra, which have over 20.6 million registered customers.

Companhia Brasileira de Distribuição   Consolidated Financial Statements Year ended December 31, 2020

Grupo Éxito maintained its customer-centric strategy and, notably, successfully innovated and adapted itself to the evolving needs triggered by the pandemic. The business registered gross revenue of R$24.7 billion in the year, driven by growth of the Wow and Carulla FreshMarket formats and by the expansion of the omnichannel strategy in all the countries where the Company operates.

The omnichannel initiatives also made considerable progress in the year, with sales totaling R$2 billion (R$1 billion in food) and 12.4% of the online channel's share coming from the Colombian operation, a benchmark in Latin America. In addition, the Puntos Colombia loyalty program registered 13.4 million customers and was integrated to the company's commercial ecosystem to enable further development of the marketplace.

In a year of so many challenges, social and environmental issues gained prominence. In Brazil, we updated our Social and Environmental Policy on Sourcing Beef and published the Social and Environmental Policy for Sourcing Palm Oil Products and the Group's Environmental Policy, in continuation of our initiatives to combat deforestation and climate change. We advanced in our commitment to reducing carbon emissions, which was included as a target for variable compensation of all Group executives in 2021.

In a pioneering move in Brazil's retail sector, we extended our Animal Welfare commitments to chains other than eggs, including good practices for the production of broiler, pork and beef. In the diversity and inclusion agenda, we intensified our efforts, publishing the Diversity and Human Rights Policy and conducting training programs for all employees and contractors to promote human rights and combat all types of discrimination.

The GPA Institute, the Group’s social investments arm, played a fundamental role in donating food, which benefited more than 4,000 families during the pandemic. The Fundação Éxito, which is committed to eradicating chronic child malnutrition, delivered approximately 255,000 food baskets, benefiting nearly 112,000 children.

The Company's consistent efforts combined with sustainable practices were recognized by its inclusion in the 2021 portfolio of the Corporate Sustainability Index (ISE) of B3 - Brasil, Bolsa, Balcão. We were also rated B+ by CDP Climate (B- in 2019) and won the Corporate Excellence Award at the Out & Equal LGBTQI+ Brazil 2020 forum for actions to promote respect and a diverse and equitable workplace.

Grupo Éxito, for its part, was the only food retailer in Latin America to be recognized for its sustainability standards, for the second straight year in the Sustainability Yearbook 2021 of Standard and Poor’s ESG.

We ended 2020 proud of our trajectory. In 2021, we will continue to adapt our portfolio to market needs, with the focus on executing our strategy of serving clients of all profiles, backed by the omnichannel approach and an increasingly integrated digital platform. Operational excellence, constant innovation and strengthening of the value proposition of selected formats are the Company’s priorities in Brazil, along with maintaining high Environmental, Social and Governance (ESG) standards.

At Grupo Éxito, apart from the digital presence and strong omnichannel approach, its leadership of the food retail market in Colombia and Uruguay will continue to pave the way for a strong and resilient operation in 2021. The robust ecosystem will also bring monetization opportunities and, consequently, improved customer experience.

Companhia Brasileira de Distribuição   Consolidated Financial Statements Year ended December 31, 2020

We started the year with more positive signs in relation to the public health crisis, though we are certain that we will have major macroeconomic challenges to overcome. However, we remain optimistic about maintaining business growth in a continuous process of transformation, keeping step with technological advances and consumption trends, while dealing in a conscientious and responsible manner with all of our stakeholders.

Christophe José Hidalgo - Chief Executive Officer

Companhia Brasileira de Distribuição   Consolidated Financial Statements Year ended December 31, 2020

INDEPENDENT AUDITORS

The individual and consolidated financial statements of GPA were reviewed by Ernst & Young. The hiring of independent auditors is based on principles that safeguard the independence of the auditor, which are: (a) auditors may not audit their own work; (b) auditors may not exercise managerial functions; and (c) auditors should not advocate on behalf of GPA or provide any services that may be considered prohibited by the regulations in force.

In compliance with Instruction 381/03 issued by the Securities and Exchange Commission of Brazil (CVM), we hereby declare that, for the fiscal year ended December 31, 2020, E&Y did not provide any services other than those related to the independent audit.

Companhia Brasileira de Distribuição   Consolidated Financial Statements Year ended December 31, 2020

AUDIT COMMITTEE REPORT - FINANCIAL YEAR 2020

Initial information

The Audit Committee (“Committee”) of Companhia Brasileira de Distribuição (“Company”) is a statutory advisory body directly linked to the Board of Directors.

The responsibilities and duties of the various governance bodies that interact with the Audit Committee are identified on the Company's Investor Relations portal, accessible at the following electronic address: http://www.gpari.com.br/

Committee activities in 2020

MEETINGS

In 2020, the Committee met in 30 sessions, 12 of which were scheduled in advance, according to the official annual calendar, and the others were extraordinary. The meetings were attended by members of the Executive Board, internal auditor and other managers of the Company and, in 9 of them, also by independent auditors.

The Committee, or through its members, individually and / or jointly, also held sessions with the President of the Company, its Financial Director and the Co-Vice President of the Board of Directors, as well as with the Directors responsible for the Business Units of the Company, for detailed knowledge of the operations and of the main risks and mitigation actions related to each respective area.

The then Coordinator reported, periodically, the main topics addressed by the Committee in its meetings to the Board of Directors, accompanied by the Independent Auditors whenever applicable.

INTERACTION WITH INTERNAL AND INDEPENDENT AUDITS

The Coordinator of the GPA / CBD Committee interacted with the Internal Audit of Grupo Casino, the controlling shareholder of GPA, in order to exchange experiences.

The Committee worked intensively with the Company's Internal Audit Director (accompanied, when applicable, by the risk area coordinator), as well as with the main partners and the EY Independent Audit team. Except for emerging issues that emerged, the Committee's permanent agenda in its interactions with the Auditors, both Internal and Independent:

Companhia Brasileira de Distribuição   Consolidated Financial Statements Year ended December 31, 2020

In view of the acquisition process of the former GPA co-parent company, Almacenes Éxito SA (“Grupo Éxito”), concluded at the end of 2019, the Committee maintained periodic interactions with the members of Grupo Éxito's Management and its independent auditors, with the objective of monitoring possible impacts on the consolidation of financial results in GPA.

In addition, the Audit Committee followed the Company's spin-off project of its wholly-owned subsidiary Assaí Distribuidora, concluded on December 31, 2020 via resolution of the Extraordinary General Meeting.

Contingencies and Provisions

During 2020, the Committee periodically monitored GPA contingencies, monitoring related provisions and maintaining special attention to the progress of tax and labor claims.

Accounting Issues

Together with the Accounting Department, the Committee analyzed and discussed, prior to the disclosure of each quarterly result and the results for the year ended 12/31/2020, the information contained in the Financial Statements and the Explanatory Notes, always with the participation of the Independent Audit.

Tax Issues

In addition, the Committee members held quarterly discussions with the Company about tax contingencies, as well as about the methodology for monetizing tax credits, as well as continuing to monitor, quarterly, compliance with the credit consumption schedule, with a special focus on the values of provisioning.

Compliance

During 2020, the Committee maintained the supervision of the Company's Compliance area, which focused on monitoring the supplier base, to mitigate risks of fraud, corruption and conflicts of interest, monitoring government agreements and revising the Code of Ethics, to adapt to the Novo Mercado, and became aware of the training and qualifications for GPA employees and suppliers carried out during the year.

Internal controls

The Committee maintained constant supervision of the work carried out by the area responsible for internal controls during the year 2020, with a focus on fulfilling the obligations provided for in SOX.

Reporting Channel

The Audit Committee regularly monitored the most relevant complaints received through the internal communication channel (Ombudsman) in a confidential manner and without identifying the complainant.

Risks

The Audit Committee carried out extensive work with the Risk Management team, in order to adopt a methodology for defining a Risk Matrix, which was recommended by the Committee for deliberation by the Company's Board of Directors in 2020.

Audit Committee Suggestions

Suggestions for improvements in internal processes and procedures have been presented by the Committee and addressed by the Company in a timely manner.

Companhia Brasileira de Distribuição   Consolidated Financial Statements Year ended December 31, 2020

Conclusion

The Audit Committee believes that all the relevant matters that were made known and described in this Report are adequately disclosed in the Management Report, in the Financial Statements and the respective Explanatory Notes for the year ended December 31, 2020, which were audited by EY, recommending that they be forwarded for deliberation by the Board of Directors and submitted for approval to CBD's General Shareholders' Meeting.

São Paulo, February 23, 2021.

Eleazar de Carvalho Filho, Committee Coordinator and Financial Specialist

Fernando Dal-Ri Murcia - Accounting and Auditing Specialist

Renan Bergmann

Gisélia da Silva

Companhia Brasileira de Distribuição   Consolidated Financial Statements Year ended December 31, 2020

FISCAL COUNCIL’S REPORT

The Company’s Fiscal Council, in accordance with its statutory and legal duties, examined the Financial Statements Related to the fiscal year ending in December 31, 2020 and issued an opinion favorable for their approval by the Company’s Board of Directors.

São Paulo, February 23, 2021

Libano Barroso - Chairman

Éric Martins

Rafael Morsch

Companhia Brasileira de Distribuição   Consolidated Financial Statements Year ended December 31, 2020

Management statement on the financial statements

In accordance with the item V of article 25 of Instruction CVM no. 480, of December 7, 2009, as amended, the Directors stated that have reviewed, discussed and agreed with the Company´s Financial Statement related to the year ended 2020, authorizing the conclusion on this date.

São Paulo, February 23, 2021.

Directors

Christophe José Hidalgo

President

Christophe José Hidalgo

Vice President of Finance

Christophe José Hidalgo

Investor’s relationship Director

Companhia Brasileira de Distribuição   Consolidated Financial Statements Year ended December 31, 2020

Management statement on the independent auditor’s report

In accordance with the item V of article 25 of Instruction CVM no. 480, of December 7, 2009, as amended, the Directors stated that have reviewed, discussed and agreed with to the Independent Registered Public Accounting Firm Report over the Company´s Financial Statements for the year ended 2020, issued on this date.

São Paulo, February 23, 2021.

Directors

Christophe José Hidalgo

President

Christophe José Hidalgo

Vice President of Finance

Christophe José Hidalgo

Investor’s relationship Director

Companhia Brasileira de Distribuição   Balance Sheets December 31, 2020 and 2019 (In millions of Reais)

The accompanying notes are integral part of these financial statements.

Companhia Brasileira de Distribuição   Balance Sheets December 31, 2020 and 2019 (In millions of Reais)

The accompanying notes are integral part of these financial statements.

Companhia Brasileira de Distribuição   Statements of Operations Years ended December 31, 2020 and 2019 (In millions of Reais)

The accompanying notes are integral part of these financial statements.

Companhia Brasileira de Distribuição   Statements of Comprehensive Income Years ended December 31, 2020 and 2019 (In millions of Reais)

The accompanying notes are integral part of these financial statements.

Companhia Brasileira de Distribuição   Statements of Changes in Shareholders' Equity Years ended December 31, 2020 and 2019 (In millions of Reais)

The accompanying notes are integral part of these financial statements.

Companhia Brasileira de Distribuição   Statements of Changes in Shareholders' Equity Years ended December 31, 2020 and 2019 (In millions of Reais)

(*) Refers to adjustments made to foreign subsidiaries with a hyperinflationary economy.

The accompanying notes are integral part of these financial statements.

Companhia Brasileira de Distribuição   Statement of Cash Flows Years ended December 31, 2020 and 2019 (In millions of Reais)

The accompanying notes are integral part of these financial statements.

Companhia Brasileira de Distribuição   Statement of Cash Flows Years ended December 31, 2020 and 2019 (In millions of Reais)

In accordance with CPC03 (R2) / IAS7 - Statement of Cash Flows, interest paid in the amount of R$774 on December 31, 2020 (R$504 on December 31, 2019) is being disclosed in the financing activity under the item “Loans and financing payments ".

The main non-cash transactions are disclosed in note 32.

The accompanying notes are integral part of these financial statements.

Companhia Brasileira de Distribuição   Statement of Value Added Years ended December 31, 2020 and 2019 (In millions of Reais)

The accompanying notes are integral part of these financial statements.

Companhia Brasileira de Distribuição   Notes to the consolidated financial statements December 31, 2020 (In millions of Brazilian reais, unless otherwise stated)

Companhia Brasileira de Distribuição ("Company" or “CBD”), directly or through its subsidiaries (“Group” or “GPA”) is engaged in the retail of food, clothing, home appliances, electronics and other products through its chain of hypermarkets, supermarkets and specialized stores, especially under the trade names "Pão de Açúcar, “Minuto Pão de Açúcar”, "Extra Hiper”, “Extra Super”, “Mercado Extra", “Minimercado Extra”, “Assai”, and the neighborhood shopping mall brand “Conviva”. The Group’s headquarters are located in the city of São Paulo, State of São Paulo, Brazil.

On November 27, 2019, the Company acquired of Casino the control of Almacenes Éxito SA (“Éxito”), a Colombian company operating in this country under the supermarket and hypermarket flags Éxito, Carulla, Super Inter, Surtimax and Surtimayorista, in Argentina under the Libertad banner and in Uruguay having Disco and Devoto. Additionally, Éxito operates shopping centers in Colombia under the Viva brand. The operations of Éxito and its subsidiaries will be considered as an international operating segment Éxito Group in note 31. Further details of the acquisition can be seen in note 13 of these financial statements.

The Company's investments in retail activities in the electronics and e-commerce segments related to Via Varejo S.A. were presented as discontinued operations and were alienated in June 2019 (see note 12.4), and represented the stores under the brands “Ponto Frio” and “Casas Bahia", as well as the e-commerce platforms “CasasBahia.com”, “Pontofrio.com” and “Barateiro.com”.

The Company’s shares are listed on the São Paulo Stock Exchange (“B3”) Level 1 of Corporate Governance under the ticker symbol “PCAR4” and on the New York Stock Exchange (ADR level III), under the ticker symbol “CBD”.

The Company is controlled, through Wilkes Participações S.A. (“Wilkes”), and its ultimate parent company is Casino Guichard Perrachon (“Casino”), French company listed on Paris Stock Exchange.

In order to unlock the full potential of the Company's Cash & Carry and traditional retail businesses, allowing them to operate autonomously, with separate management, focus on the business model and direct access to the capital market and other sources of financing for each of the businesses, the Extraordinary General Meeting of the shareholders of the Company and Sendas Distribuidora S.A.(Sendas), held on December 31, 2020, approved the proposal for corporate reorganization, previously approved on December 14, 2020 by the Boards of Directors of both companies , which comprises:

Companhia Brasileira de Distribuição   Notes to the consolidated financial statements December 31, 2020 (In millions of Brazilian reais, unless otherwise stated)

Companhia Brasileira de Distribuição   Notes to the consolidated financial statements December 31, 2020 (In millions of Brazilian reais, unless otherwise stated)

Companhia Brasileira de Distribuição   Notes to the consolidated financial statements December 31, 2020 (In millions of Brazilian reais, unless otherwise stated)

On December 11, 2020, Sendas obtained its registration as a publicly-held company in category “A” before the Brazilian Securities and Exchange Commission (CVM), pursuant to CVM Instruction No. 480/2009.

On February 10, 2021, the request for listing and admission to trading of shares issued by Sendas on the Novo Mercado of B3 SA - Brasil, Bolsa, Balcão (“B3”). On February 12, 2021, a request for listing of American Depositary Securities (“ADSs”) issued by Sendas on the New York Stock Exchange (“NYSE”) was granted. Holders of common shares issued by GPA, after the close of trading on February 26, 2021, will receive shares issued by Sendas, in proportion to their respective holdings in GPA's share capital.

The Company has been monitoring the progress of COVID-19 (Coronavirus) and its impacts on its operations. Several actions were taken by the administration, among which we highlight the creation of a crisis committee formed by the senior management, which takes decisions in line with the recommendations with the Ministry of Health, local authorities and professional associations.

The Company has adopted all possible measures to mitigate the risks of virus transmission in stores, distribution centers and offices, such as: frequent cleaning, safety / protection items for employees, flexible working hours, adoption of telework, among other decisions.

Since the beginning of the COVID-19 outbreak, our stores have remained open, in addition to the important evolution of our e-commerce formats. The Company has an important commitment to society to continue taking products to our consumers. We had no problems in supplying the industries that continued to supply our distribution centers and stores.

On March 10, 2020, the CVM issued CVM-SNC / SEP Circular Letter No. 02/2020, instructing publicly-held companies to carefully assess the impacts of COVID-19 on their business and disclose the main risks in the financial statements and uncertainties arising from this analysis, observing the applicable accounting standards.

Accordingly, the Company carried out a complete analysis of the financial statements, in addition to updating the analyzes on the Company's operational continuity. The main themes evaluated were:

• The Company prepared strategic planning for the next three years and carried out the impairment test of its assets, according to the methodology and assumptions described in notes 7.2, 8.1, 15.1, 16.1 and 16.2;

• We assessed the realization of the balances of accounts receivable from credit card operators, customers, galleries in our stores, real estate rentals and understand that there is currently no need to record provisions in addition to those already registered;

• As for inventories, we do not foresee the need for adjustment for realization;

• Financial instruments already reflect the market assumptions in their valuation, and there are no additional exposures not disclosed in this financial statements. The Company is not exposed to significant financing in US dollars;

• The Company does not, for the moment, foresee additional needs to obtain financing;

• Finally, the costs necessary to adapt our stores to serve the public are highlighted in Note 28 - Other operating expenses, net.

Companhia Brasileira de Distribuição   Notes to the consolidated financial statements December 31, 2020 (In millions of Brazilian reais, unless otherwise stated)

In summary, according to management's estimates and the monitoring of the impacts of the pandemic, there are no effects that should be recorded in the financial statements, nor are there any effects on the Company's operational continuity and / or estimates that would justify changes or registration of provisions, in addition to those already disclosed. The Company will continue to monitor and assess the impacts and, if necessary, make the necessary disclosures.

In November 2019, Via Varejo's management released anonymous complaints to the market that dealt with alleged irregularities in Via Varejo financial statements, which management had attempted in September 2019. Subsequently, in December 2019 Via Varejo reported that preliminary investigation had found alleged evidence of accounting irregularities. On March 25, 2020, Via Varejo communicated the final result of the investigation, stating that it is not necessary to register any effect resulting from the investigations in the Company's financial statements.

On December 30, 2019, the Company's shareholders at the Extraordinary General Meeting approved the admission of the Company to the Novo Mercado of B3 SA - Brasil, Bolsa, Balcão (“B3”), the conversion of all preferred shares into common shares, in the proportion of one common share for each preferred share. On February 14, 2020, B3 approved the admission of GPA to the special listing segment Novo Mercado. On March 2, the process of converting preferred shares into common shares was completed and GPA started trading on the Novo Mercado.

On December 23, 2019, the Company signed a commitment to sell 6 properties (Pão de Açúcar stores) in the Sale and Leaseback modality to Rio Bravo Investimentos Distribuidora de Titulos e Valores Imobiliários Ltda. of a total amount of R$92, of which R$91 was received. In 2020, the Company concluded the sale of 5 of the 6 stores. The parties entered into lease agreements for the 5 properties, with a term of 10 years, renewable for the same period, ensuring the continuity of GPA operations in properties with sustainable financial conditions.

On March 5, 2020, the Company entered into a Sale and Leaseback transaction with investment funds administered by BRL Trust Distribuidora de Títulos e Valores Mobiliários S.A. and managed by TRX Gestora de Recursos Ltda. (“TRX”), pursuant to the signing of a “Private Instrument of Commitment of Purchase and Sale of Real Estate Properties and Real Surface Law Institution” (“Instrument”). The Instrument initially foresees the sale of 43 properties of the Company in various tranches, for the total amount of R$1,246.

The Company completed the sale of 39 properties for a total amount of R$1,183, which R$1,181 already received. Four properties of non-relevant value from the total volume were not sold. The parties entered into lease agreements for each property, with a term of 15 years, renewable for the same period.

On December 23, 2020, the Company signed a contract for the sale of 4 properties in the Sale and Leaseback modality to Rio Bravo Investimentos Distribuidora de Titulos e Valores Imobiliários Ltda. for a

Companhia Brasileira de Distribuição   Notes to the consolidated financial statements December 31, 2020 (In millions of Brazilian reais, unless otherwise stated)

total amount of R$255, of which R$235 was received in 2020. The parties signed a 15-year lease agreement for these 4 stores, renewable for the same period, ensuring the continuity of GPA operations in properties with financial conditions sustainable.

Management assessed the Company's ability to continue operating for the foreseeable future and concluded that it has the ability to keep its operations and systems functioning normally, even in the face of the COVID-19 pandemic (see note 1.2). Thus, Management is not aware of any material uncertainty that could generate significant doubts about its ability to continue operating and the financial statements have been prepared based on the assumption of operational continuity.

Companhia Brasileira de Distribuição   Notes to the consolidated financial statements December 31, 2020 (In millions of Brazilian reais, unless otherwise stated)

The individual and consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standard Board (“IASB”) and accounting practices adopted in Brazil law 6,404/76 and accounting pronouncements issued by Comitê de Pronunciamentos Contábeis (“CPC”) and approved by the Brazilian Securities and Exchange Commission (“CVM”).

The financial statements have been prepared on the historical cost basis except for certain financial instruments measured at their fair value. All relevant information in the financial statements is being evidenced and corresponds to that used by the Administration in the conduct of the Company.

The individual and consolidated financial statements is being presented in millions of Brazilian Reais (“R$”), which is the reporting currency of the Company. The functional currency of associates and subsidiaries located abroad is the local currency of each jurisdiction.

The financial statements for the year ended December 31, 2020 were approved by the Board of Directors on February 23, 2021.

The Company concluded the sale process of the subsidiary Via Varejo SA (see note 12.3), and maintained until June 14, 2019 the individual and consolidated financial statements of the result and the statement of added value for the year ended December 31, 2019 disclosed considering the effects of such transaction in compliance with technical pronouncement CPC 31 / IFRS 5 - Non-current assets held for sale and Discontinued Operation.

The consolidated statement of income for the year and the statement of consolidated added value and the notes related to the result for the year ended December 31, 2019 are being restated due to the spin-off of subsidiary Sendas (Assai) note 1.1, considering the effects of such transaction in compliance with technical pronouncement CPC 31/IFRS 5 - Non-current assets held for sale and Discontinued Operation.

The cash flow statements include continued and discontinued operations in line with technical pronouncement CPC31/IFRS 5.

The consolidated financial statements include the accounting information of all subsidiaries in which the Company exercises control, directly or indirectly. The determination of which subsidiaries are controlled by the Company and the procedures for full consolidation follow the concepts and principles established by CPC 36 (R3)/IFRS 10.

The financial statements of the subsidiaries are prepared on the same closing date of the Company's years, adopting consistent accounting policies. All balances between Group companies, including income and expenses, unrealized gains and losses and dividends resulting from operations between Group companies are eliminated in full.

Gains or losses resulting from changes in equity interest in subsidiaries, which do not result in loss of control, are recorded directly in equity.

In the individual financial statements, interests are calculated considering the percentage held by GPA or its subsidiaries. In the consolidated financial statements, the Company fully consolidates all of its subsidiaries, maintaining the non-controlling interest highlighted in a specific line in shareholders' equity and income statement.