Investment Thesis Overview

Highly Competitive Industry with Low Barriers to Entry GROUPE MTY GROUP Restaurants MTY competes with a variety of players in each of its local markets Convenience food stores Competitive Factors Quality, variety and value perception of food products offered Quality of service Number of banners Restaurant location (proximity) Coffee Shops GROUPE MTY Take-out & delivery operations GROUP Quality and speed of service Supermarkets Street Vendors Delicatessen Attractiveness of facilities Convenience (on-line ordering, delivery, etc.) Effectiveness of marketing New product development 26 46

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