Companhia Brasileira de Distribuiçao Netherlands B : EXTRACT OF THE MINUTES OF THE MEETING OF THE BOARD OF DIRECTORS HELD ON DECEMBER 23RD, 2022 - Form 6-K

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 December, 2022

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

PUBLICLY HELD COMPANY AND AUTHORIZED COMPANY

CNPJ/ME No. 47.508.411/0001-56

NIRE 35.300.089.901

EXTRACT OF THE MINUTES OF THE MEETING OF THE BOARD OF DIRECTORS HELD ON DECEMBER 23^RD, 2022

1. DATE, TIME AND PLACE: December 23^rd, 2022, at 06:30 p.m., at the head offices of Companhia Brasileira de Distribuição ("Company"), at Avenida Brigadeiro Luís Antônio, No. 3.142, City and State of São Paulo.

2. CONDUCTION OF THE MEETING: Chairman: Mr. Arnaud Daniel Charles Walter Joachim Strasser; Secretary: Mrs. Aline Pacheco Pelucio.

3. CALL TO ORDER AND ATTENDANCE: The call was done pursuant to paragraphs first and second of article 14 of the Company's Bylaws and articles 7 and 8 of the Internal Regulation of the Company's Board of Directors. Were present all of the members of the Board of Directors, namely, Messrs. Arnaud Daniel Charles Walter Joachim Strasser, Jean-Charles Henri Naouri, Marcelo Pimentel, Christophe Hidalgo, Eleazar de Carvalho Filho, Hervé Daudin, Luiz Augusto de Castro Neves, Rafael Russowsky and Renan Bergmann

4. AGENDA: (i) Analysis and deliberation on the Built to Suit operation; (ii) Analysis and deliberation on the Third Amendment to the SPA Shanghai Contract; (iii) Analysis and deliberation on the prepayment of receivables; (iv) Analysis and deliberation on the proposed issue of shares within the scope of the Company's stock option program and the respective capital increase; and (v) Analysis and deliberation on the updating of the Company's policies.

5.RESOLUTIONS: Starting the work, Messrs. Counselors took the following resolutions, unanimously and without reservations:

5.1 Analysis and deliberation on the Built to Suit operation: The Members of the Board of Directors decided, unanimously and without reservations, for the resolution of a Built to Suit operation in the amount of BRL 200,000,000.00 (two hundred million Reais) relating to the financing of the Company's expansion projects;

5.2 Analysis and deliberation on the Third Amendment to the SPA Shanghai Agreement: The Members of the Board of Directors decided, unanimously and without reservations, for the resolution of the Third Amendment to the SPA Shanghai Agreement;

5.3 Analysis and deliberation on the prepayment of receivables: the Members of the Board of Directors resolved, unanimously and without reservations, on the prepayment of receivables proposed by the Management.

5.4 Analysis and deliberation on the proposal of issuance of shares under the terms of the stock option plan of the Company and the respective capital increase: Messrs. members of the Board of Directors discussed (i) the Company's Compensation in Stock Option Plan approved in the Special Shareholders' Meeting held on May 9, 2014 and amended at the Annual and Special Shareholders' Meeting held on April 24, 2015, at the Annual and Special Shareholders' Meeting held on April 25, 2019 and at the Special Shareholders' Meeting held on December 30, 2019 ("Compensation Plan") and (ii) The Company's Stock Option Plan approved at the Special Shareholders' Meeting held on May 9, 2014 and amended at the Annual and Special Shareholders' Meeting held on April 24, 2015, at the Annual and Special Shareholders' Meeting held on April 25, 2019 and at the Special Shareholders' Meeting held on December 30, 2019 ("Stock Option Plan", collectively with the Compensation Plan, the "Plans") and resolved:

As a consequence of the exercise of options pertaining to Series B7 and B9 of the Compensation Plan, and to Series C6 of the Stock Option Plan, to approve, as recommended by the Financial Committee and observed the limit of the authorized capital of the Company, as provided by Article 6 of the Bylaws, the capital increase of the Company in the amount of R$ 275,589.13 (two hundred and seventy-five thousand, five hundred and eighty-nine reais and thirteen centavos), by issuance of 395,711 (three hundred and ninety-five thousand, seven hundred and eleven) common shares, whereas:

(i)15,629 (fifteen thousand, six hundred and twenty-nine) common shares, at the issuance rate of R$ 17.39 (seventeen reais and thirty-nine centavos) per share, fixed in accordance with the Stock Option Plan, in the total amount of R$ 271,788.31 (two hundred and seventy-one thousand, seven hundred and eighty-eight reais and thirty-one centavos), due to the exercise of options from Series C6;

(ii)128,229 (one hundred and twenty-eight thousand, two hundred and twenty-nine) common shares, at the issuance rate of R$ 0.01 (one centavo) per share, fixed in accordance with the Compensation Plan, in the total amount of R$ 1,282.29 (one thousand, two hundred and eighty-two reais and twenty-nine centavos), due to the exercise of options from Series B7; and

(iii)251,853 (two hundred and fifty-one thousand, eight hundred and fifty-three) common shares, at the issuance rate of R$ 0.01 (one centavo) per share, fixed in accordance with the Compensation Plan, in the total amount of R$ 2,518.53 (two thousand, five hundred and eighteen reais and fifty-three centavos), due to the exercise of options from Series B9.

According to the Company's By-laws, such common shares hereby issued have the same characteristics and conditions and enjoy the same rights, benefits and advantages of other existing common shares issued by the Company, including dividends and other capital's remuneration that may be declared by the Company.

Thus, the Company's capital stock shall change from the current R$ 5,860,795,896.87 (five billion, eight hundred and sixty million, seven hundred and ninety-five thousand, eight hundred and ninety-six reais and eighty-seven centavos), to R$ 5,861,071,486.00 (five billion, eight hundred and sixty-one million, seventy-one thousand, four hundred and eighty-six reais), fully subscribed and paid for, divided into 270,139,069 (two hundred and seventy million, one hundred and thirty-nine thousand and sixty-nine) common shares with no par value.

5.5 Analysis and deliberation on updating the Company's policies: The Members of the Company's Board of Directors resolved, unanimously and without reservations, to approve the following policies: Donations and Sponsorship Policy, Consequences and Disciplinary Measures Policy and Access´s Policy.

6. APPROVAL AND SIGNATURE OF THESE MINUTES: As there were no further matters to be addressed, the meeting was adjourned so that these minutes were drawn up. Then the meeting was resumed and these minutes were read and agreed to, having been undersigned by all attending persons. São Paulo, December 23^rd, 2022. Chairman: Mr. Arnaud Daniel Charles Walter Joachim Strasser; Secretary: Mrs. Aline Pacheco Pelucio. Members of the Board of Directors who were present: Messrs. Arnaud Daniel Charles Walter Joachim Strasser, Jean-Charles Henri Naouri, Marcelo Pimentel, Christophe Hidalgo, Eleazar de Carvalho Filho, Hervé Daudin, Luiz Augusto de Castro Neves Rafael Russowsky and Renan Bergmann.

I hereby certify, for due purposes, that this is an extract of the minutes registered in the relevant corporate book, in accordance with Article 130, paragraph 3, of Law No. 6.404/76 as amended.

__________________________________ Aline Pacheco Pelucio Secretary

SIGNATURES

Pursuant to the requirement of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

		COMPANHIA BRASILEIRA DE DISTRIBUIÇÃO
Date: December 26, 2022	By: /s/ Marcelo Pimentel
		Name:	Marcelo Pimentel
		Title:	Chief Executive Officer
		By: /s/ Guillaume Marie Didier Gras
		Name:	Guillaume Marie Didier Gras
		Title:	Investor Relations Officer

FORWARD-LOOKING STATEMENTS

This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates offuture economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.