Investment Thesis Overview

Typical Seasonality of MTY Results System sales(¹) fluctuate with the seasons GROUPE MTY GROUP Q1 Dec-Jan-Feb Q2 March-Apr-May Winter Spring Q3 June-July-Aug Summer Q4 Sept-Oct-Nov Fall Sales for Frozen treats SOFT STRONG STRONGEST SOFT & smoothies Sales for Papa STRONG STRONG SOFT STRONGEST Murphy's Food court sales are higher during December because of Holiday shopping Higher street front sales Higher sales from food courts Halloween is the biggest sales day for Papa Murphy's COLD STONE COLD STONE (1) This is a non-GAAP measure. Please refer to page 3 of this presentation. 40 40

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