Alimentation Couche-Tard (ATD) AGM 2024 summary

Opening remarks and agenda

• Meeting opened by the Executive Chairman, with the Chief Legal Officer serving as secretary.

• Agenda included receipt of audited financials, auditor appointment, director elections, advisory vote on executive compensation, and review of five shareholder proposals.

• Voting procedures and participation rules for the virtual meeting were outlined.

Financial performance review

• Gross margin increased by 9.3% since 2014 and 0.4% over the last year, reaching over $12 billion.

• EBITDA grew at a 13% annualized rate since 2014, with per share earnings up 15% to $2.41.

• Over the past 10 years, share value increased by 450%, outperforming North American indexes.

• EBITDA for the year was $5.5 billion, with available cash flow of $1.7 billion.

• Dividend increased by over 25% and has grown for 18 consecutive years.

• $1.4 billion in shares were redeemed in 2024, completing over half of the buyback program.

Board and executive committee updates

• Sixteen directors were nominated and elected, including the incoming CEO, Alex Miller.

• Alex Miller appointed as President and CEO effective September 6th, succeeding Brian Hannasch.

• Executive team includes new CFO Felipe Da Silva and Chief Digital Officer Erica Fortune.