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Alimentation Couche-Tard Investor Presentation

EFFICIENT STRUCTURE BELOW EBITDA LINE EBITDA 1 D&A 2 Net financial expenses Income taxes Net earnings 100% 26% 5% 15% 54% Low cost of debt and global corporate structure permits high conversion of EBITDA to net earnings. 1 Please refer to the "Non-IFRS Measures" section of this presentation for additional information on performance measures not defined by IFRS. 2 Depreciation, amortization and impairment. Alimentation Couche-Tard | Investor Presentation 35 3 CIRCLE K ingo

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