Investment Thesis Overview

Q2-21 Network Location Evolution GROUPE MTY GROUP Quarterly net location closures represent on average 1% of total locations. Closed fewer locations in Q2'21 than in Q2'20 despite the pandemic and heavy restrictions. Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Beginning of period 7,300 7,236 7,123 7,001 6,949 Opened Closed 48 45 39 41 61 (111) (157) (161) (92) (103) Acquired JV closed (1) (1) (1) End of period 7,236 7,123 7,001 6,949 6,907 Net (64) (113) (122) (52) (42) Net closures as a % of number of locations 0.9% 1.6% 1.7% 0.7% 0.6% 49

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