Alimentation Couche-Tard Investor Presentation — October 2022

4 = Buy - A great company, it will do well in the future.

3 = Hold - A classic "right company at the right price".

2 = Sell - If we were you, we would seriously consider getting rid of this one.

1 = Screaming Sell - Enough said.

In addition to our rating, we also added a dividend safety score from 1 to 5:

DIVIDEND SAFETY SCORE

5 = Stellar dividend - Past, present and future dividend growth look impressive.

4 = Good dividend - The company shows sustainable dividend growth.

3 = Decent dividend - Don’t expect much more than 3-5% dividend growth.

2 = Dividend is safe but - Not likely to increase this year (0-3%). Potential for a dividend cut.

1 = Dividend Trash - There has been a cut or the dividend is not sustainable.

But before you dive into this report and read all the great news we found about your holdings, we’ve done some extra

work and built a portfolio summary for you. The summary is based on the information you provided us. It is completed to

the best of our knowledge, but this summary cannot be taken as your real portfolio.The information contained within this report is for informational purposes only and it is not intended as a recommendation of the securities

highlighted or any particular investment strategy; nor should it be considered a solicitation to buy or sell any security. In addition, this

information is not represented or warranted to be accurate, correct, complete, or timely. The securities mentioned in this report and the

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Nobina