Investor Presentaiton

NORTH WEST 2. Giant Tiger Sale/ Restructure COMPANY THE Discontinued stores impaired Canadian EBITDA (1) performance... Discontinued GT EBITDA ($ in millions) 13.1 11.1 7.2 IFRS 16 = $0.3 million 3.2 -6.4 2015 2016 2017 2018 2019 ...while we preserved our franchise exclusivity Average annual capex spend of $6.7 million Slow new store maturation = losses over years 1-3 Performance upside from individual store franchising not pursued because non-economic to NWC Disproportionate management attention vs. core business potential (1) 2019 is reported on a Pre-IFRS 16 Leasing basis in order to facilitate comparisons to 2015 - 2018 6

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