Q3-24 ACT Investor Presentation

Non-IFRS Accounting Standards Measures Adjusted net earnings attributable to shareholders of the Corporation and adjusted diluted net earnings per share. Adjusted net earnings attributable to shareholders of the Corporation represents net earnings attributable to shareholders of the Corporation adjusted for net foreign exchange gains or losses, acquisition costs, the impact from changes in accounting policies and adoption of accounting standards, impairment on goodwill, investments in subsidiaries, joint ventures and associated companies, as well as other specific items for which the impact on consolidated results is not deemed indicative of future trends, such as the reclassification adjustment of gain on forward starting interest rate swaps, and the impact of the non- controlling interests on the items mentioned previously. Please note that the changes in the composition of this measure relating to the net earnings attributable to shareholders of the Corporation and the impact of the non-controlling interests on the items mentioned previously are to reflect the impact of the addition of non-controlling interests during the quarter. These measures are considered useful for evaluating the underlying performance of our operations on a comparable basis. The table below reconciles net earnings attributable to shareholders of the Corporation, as per IFRS Accounting Standards, with adjusted net earnings attributable to shareholders of the Corporation and adjusted diluted net earnings per share: Interest-bearing debt, net interest-bearing debt and leverage ratio. Interest bearing-debt is the sum of the following balance sheet accounts: Short-term debt and current portion of long-term debt, Long-term debt, Current portion of lease liabilities and Lease liabilities, and is considered useful to facilitate the understanding of our financial position in relation with financing obligations. Net interest-bearing debt corresponds to the previous measure minus Cash and cash equivalents and is considered useful to assess our financial health, risk profile, and ability to meet our financing obligations. Leverage ratio represents a measure of financial condition considered useful to assess our financial leverage and our ability to cover our net financing obligations in relation to our adjusted EBITDA and pro forma impact of the acquisition of certain European retail assets from TotalEnergies SE for the 53-week period ended February 4, 2024. Please note that the change in the composition of this measure relating to the pro forma impact of the acquisition of certain European retail assets from TotalEnergies SE is, as described in the opening remarks of this section, to reflect the impact of acquisitions deemed materiall in our ability to cover our net financing obligations for the period where the financing obligations related to the acquisition are included in net interest-bearing debt. The table below reconciles net interest-bearing debt and adjusted EBITDA, for which the calculation methodology is described in another table of this section, as well as the pro forma impact of the acquisition of certain European retail assets from TotalEnergies SE, with the leverage ratio: (in millions of US dollars, except per share amounts, or unless otherwise noted) Net earnings attributable to shareholders of the Corporation Adjusted for: Acquisition costs 16-week period ended February 4, 2024 16-week period ended January 29, 2023 623.4 737.4 53 week period ended April 30, 2023 3,090.9 52-week period ended April 24, 2022 2,683.3 Net foreign exchange (gain) loss Loss on convertible promissory notes recorded at fair value through earnings or loss prior to their maturity 5.6 2.7 13.7 (5.4) 1.6 0.7 6.7 (20.7) (in millions of US dollars, except ratio data) Short-term debt and current portion of long-term debt Current portion of lease liabilities Long-term debt Lease liabilities Interest-bearing debt Less: Cash and cash equivalents Net interest-bearing debt 26.4 Adjusted EBITDA Impairment of our investment in Fire & Flower 23.9 33.7 Pro forma adjustments) Impairment and impact of deconsolidation of Russian subsidiaries 56.2 Adjusted EBITDA and pro forma adjustments Leverage ratio 53-week period ended 53-week period ended As at 52-week period ended February 4, 2024 2,162.9 503.2 April 30, 2023 0.7 438.1 April 24, 2022 1.4 425.4 8.376.0 5.888.31 5,963.6 3,648.5 3.146.5 3,049.5 14,690.6 9,473.6 9.439.9 (1,036.1) (834.2) (2.143.9) 13,654.5 8,639.4 7,296.0 5,794.5 5,775.4 5,266.1 445.9 6,240.4 5,775,4 5,266. 2.19:1 1.50:1 1.39:1 Cloud computing transition adjustment 15.1 Tax impact of the items above and rounding 1.4 Adjusted net earnings attributable to shareholders of the Corporation Weighted average number of shares diluted (in millions) 625.0 (0.7) 741.0 963.8 1,005.9 (3.6) 3,152.0 1.009.5 (4.3) (1) 2,770.0 1,063.5 Adjusted diluted net earnings per share 0.65 0.74 3.12 2.60 The information as at April 30, 2023, has been adjusted based on our final estimates of the fair value of assets acquired and liabilities assumed for the acquisition of True Blue Car Wash LLC. (2) Represents the pre-acquisition EBITDA estimate of the European retail assets acquired from TotalEnergies SE from January 30, 2023 to the acquisition date, as well as the estimated impact of synergies stemming from the transaction for the same period. EBITDA used in determining this adjustment is derived from unaudited financial information. Please refer to the "Forward-Looking Statements" section of this presentation for additional information on expected synergies. Q3-24 ACT Investor Presentation CIRCLE ingo

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