Tractor Supply Company Investor Presentation — February 2018

Document content

Investment Community Day

Mary Winn Pilkington

Vice President, Investor and Public RelationsPresentations

Greg Sandfort, Chief Executive Officer

Steve Barbarick, President and Chief Merchandising Officer

Rob Mills, Chief Information and Strategy Officer

Kurt Barton, Chief Financial Officer

Depart for Store TourAgendaSafe Harbor Statement and Non-GAAP Measures

The Company claims the protection of the safe- harbor for forward -looking statements contained in the Private Securities Litigati on Reform Act of 1995.

The information in this presentation contains certain forward -looking statements. These statements discuss, among other things, expectations with respect to

sales, earnings, store growth, capital expenses, margins, debt, payment of dividends and stock repurchases. These forward- looking statements are based

on estimates, projections, beliefs and assumptions, and may be affected by risks or uncertainties including, but not limited to,competition, product demand,

economic conditions, the ability to open new stores, the effectiveness of merchandising and marketing initiatives, the abilit y to realize operational

efficiencies, inflation, consumer debt levels, governmental approvals, ability to hire and retain qualified employees, weathe r, etc. The Company intends

these forward -looking statements to speak only as of the time of the presentation and does not undertake any obligation to updat e or revise them after

the date hereof or as more information becomes available.

Actual results may differ materially from anticipated results described in these forward- looking statements. As a result, all of the forward -looking

statements made are qualified by these cautionary statements and those contained in the Risk Factors section of the Company’s Annual Report on Form

10-K filed with the Securities and Exchange Commission.

The Company’s presentations may include certain non -GAAP financial measures, such as its Return on Invested Capital (“ROIC”) calculation. This

supplemental information should not be considered in isolation or as a substitute for related GAAP measures. The Company believes that ROIC is

meaningful for investors and management because it measures how effectively the Company deploys its capital base

Reconciliations of the supplemental information to the comparable GAAP measures can be found on our Investor Relations websit e at ir.tractorsupply.com.Tractor Supply…For Life Out Here

For those joining via webcast, please click on Brand Anthem in the Resources section.Greg Sandfort

Chief Executive Officer80 Years and Going Strong