Strong Financial Performance & Growth Strategy
DISCLAIMERS
Forward-Looking Information
This Presentation contains "forward-looking information" for purposes of applicable securities laws ("forward-looking statements"), which reflect the current view of management with respect to the Company's objectives, plans, goals, strategies, outlook, results of
operations, financial and operating performance, prospects and opportunities, including statements relating to store count and same-store sales growth. Wherever used, the words "may", "will", "anticipate", "intend", "estimate", "expect", "plan", "believe" and similar
expressions identify forward-looking information and forward-looking statements. Forward-looking information and forward-looking statements should not be read as guarantees of future events, performance or results, and will not necessarily be accurate indications of
whether, or the times at which, such events, performance or results will be achieved. All of the information in this Presentation containing forward-looking information or forward-looking statements is qualified by these cautionary statements.
Forward-looking information and forward-looking statements are based on information available to management at the time they are made, underlying estimates, opinions and assumptions made by management and management's current good faith belief with respect to
future strategies, prospects, events, performance and results, and are subject to inherent risks and uncertainties surrounding future expectations generally. Such risks and uncertainties include, but are not limited to, those described in "Risk Factors" which are described in
the Company's annual information form dated March 22, 2017 filed on www.sedar.com.
Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking information and forward-looking statements and are cautioned not to place undue reliance on such information and statements. The Company does not
undertake to update any such forward-looking information or forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable laws.
Non-IFRS Measures and Industry Metrics
This Presentation makes reference to certain non-IFRS measures including key performance indicators used by management and typically used by our competitors in the restaurant industry. These measures are not recognized measures under IFRS and do not have a
standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS measures by providing further understanding
of our results of operations from management's perspective. Accordingly, these measures should not be considered in isolation nor as a substitute for analysis of our financial information reported under IFRS. We use non-IFRS measures including "EBITDA", "Adjusted
EBITDA", "Pro Forma Adjusted EBITDA", "free cash flow", "free cash flow conversion", "Adjusted Net Income" and "Pro Forma Adjusted Net Income". This Presentation also makes reference to "system-wide sales" and "same-store sales growth" which are commonly used
operating metrics in the restaurant industry but may be calculated differently by other companies in the restaurant industry. These non-IFRS measures and restaurant industry metrics are used to provide investors with supplemental measures of our operating performance
and liquidity and thus highlight trends in our business that may not otherwise be apparent when relying solely on IFRS measures. We also believe that securities analysts, investors and other interested parties frequently use non-IFRS measures, including restaurant industry
metrics, in the evaluation of companies in the restaurant industry. The Company's management also uses non-IFRS measures and restaurant industry metrics in order to facilitate operating performance comparisons from period to period, to prepare annual operating budgets
and forecasts and to determine components of management compensation. For a: (i) detailed definition of each of the non-IFRS measures and industry metrics referred to; and (ii) reconciliation of these non-IFRS measures refer to the Company's Management's Discussion
and Analysis dated March 22, 2017, which is available on SEDAR at www.sedar.com.
Financial Matters
In this Presentation, all amounts are in U.S. dollars, unless otherwise indicated. Any graphs, tables or other information in this Presentation demonstrating the historical performance of the Company or any other entity contained in this Presentation are intended only to
illustrate past performance of such entities and are not necessarily indicative of future performance of the Company or such entities. Any financial outlook or future oriented financial information in this Presentation, has been approved by management of the Company as of
May 4, 2017. Such financial outlook or future oriented financial information is provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be
appropriate for other purposes.
Industry and Market Data
Market data and industry forecasts contained in this Presentation have been obtained from industry publications, various publicly available sources and reports purchased by the Company as well as from management's good faith estimates, which are derived from
management's knowledge of the industry and independent sources that management believes to be reliable. Industry publications, surveys and forecasts generally state that the information contained therein has been obtained from sources believed to be reliable. We have
not independently verified any of the information from third-party sources nor have we ascertained the validity or accuracy of the underlying economic assumptions relied upon therein. Certain of the industry data presented herein has been derived from reports
commissioned and paid for by the Company and prepared by Technomic Inc., a research and consulting firm servicing the food and food service industry, in 2016. Actual outcomes may vary materially from those forecast in the reports or publications referred to herein, and
the prospect for material variation can be expected to increase as the length of the forecast period increases. Although we believe these sources are generally reliable, the accuracy and completeness of such information is not guaranteed and has not been independently
verified.
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