Alimentation Couche-Tard (ATD) AGM 2024 summary

Opening remarks and agenda

• Meeting opened by Executive Chairman, with roles and agenda outlined, including financial statement review, auditor appointment, director elections, advisory vote on executive compensation, and five shareholder proposals.

• Voting procedures and participation rules for shareholders and proxies were explained, with electronic voting and Q&A protocols established.

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 an annualized rate of 13% since 2014, with earnings per share up 15% to $2.41.

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

• 2024 EBITDA decreased by 2.9% year-over-year, but available cash flow was $1.7 billion.

• Dividend increased by over 25% and has grown for 18 consecutive years; $1.5 billion paid to shareholders last year.

Board and executive committee updates

• Sixteen directors were nominated and elected, including the incoming CEO, Alex Miller, who assumes the role on September 6th.

• Outgoing CEO Brian Hannasch transitions to special advisor; new CFO and Chief Digital Officer introduced.