Investor Presentaiton

STRONG AND SCALABLE FREE CASH FLOW CONVERSION Capital Structure & Financial Discipline 95 95 979 81 1,065 890 865 614 102 85 2,331 2,396 360 351 1,876 63 145 77 1,640 104 279 404 79 1,376 841 172 56 172 87 65 807 899 50 91 563 457 459 2011 289 EBITDA 2012 Income tax paid Investor Day Jan 2018 2013 ■Business disposals ■Interest paid 2014 20150 20160 2017 ■Net capex Dividends Free Cash Flow CIRCLE K Couche-Tard ingo

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