ValueAct Capital Activist Presentation Deck

Seven & i Holdings Today: 15 Years of Limited Value Creation Indexed TSR 1,400 1,300 1,200 1,100 1,000 900 800 700 600 500 400 300 200 100 0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Seven & i Holdings Walmart Pan Pacific President Chain FAST Retailing McDonalds Casey's Couche-Tard TSR % p.a. +4.6% +10.2% +12.5% +13.1% +13.9% +15.6% +15.8% +18.5% Sources: FactSet (prices as of 1/20/2022), VAC analysis Memo: Assumes dividends are reinvested back into company stock hr 14

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