Investor Presentaiton

POSITIVE OUTLOOK FOR LIQUID FUEL DEMAND OECD COUNTRIES MODERATELY IMPACTED BY NATURAL GAS & ELECTRIC Worldwide light-duty vehicle energy consumption Quadrillion Btu Worldwide plug-in electric vehicles as percent of light-duty vehicle stock Percent 60 55 50 45 /electricity natural gas Low PEV Penetration case Reference case High PEV Penetration case 26% 40 35 30 25 petroleum-based 18% 14% 20 10% 9% 15 8% 10 5% 5% 3% 2% 3% 5 0% 1% 1% 1% 0 2015 2020 2025 2030 2035 2040 2020 2025 2030 2035 2040 Investor Day Source: U.S. Energy Information Administration (EIA) - International Energy Outlook 2017 (September 14, 2017) CIRCLE K Jan 2018 Couche-Tard ingo

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