Slide 1: A leading Canadian value retailer with international reach
A leading Canadian value retailer with international reach Investor Presentation – Q4-FY2026 March 24, 2026
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements. Certain statements contained in this presentation, and in any discussion in relation to this presentation, constitute forward-looking statements about results, levels of activity, performance, goals or achievements of Dollarama, Dollarama Australia and Dollarci
Slide 3: Serving customers with purpose
Serving customers with purpose Our vision Our purpose Our values To be the leading value retailer To provide customers from all walks Entrepreneurial in every market in which we of life with the best quality and value operate, providing customers on every dollar they spend and with People-focused wi
Slide 4: A high-performing, growth-oriented value retailer
A high-performing, growth-oriented value retailer (TSX: DOL) $7.3B 45.0% Recognized Canadian brand serving customers from all walks of life Revenues Gross margin1 as a % of sales Differentiated concept offering compelling value at multiple, low fixed price points 13.1% 15.1% Sales growth LTM SG&A Co
Slide 5: A growing reach and international footprint
A growing reach and international footprint Long-term Store Targets1 Canada (Since 1992) 2,8252 2,200 1,691 stores retail locations in seven Dollarama stores in countries Canada by 2034 Mexico (Since Q2 2025) 11 stores 43,000+2 1,050 employees on three Dollarcity stores in Guatemala El Salvador cont
Slide 6: Competitive advantages
Competitive advantages Strong brand Differentiated concept Value proposition Operational excellence Recognized as a reputable and Broad assortment of products at Superior direct sourcing and Nimble operator with proven valuable brand in Canada; multiple, low fixed price points in buying capabilities
Slide 7: Serving Canadians with purpose
Serving Canadians with purpose – Select sustainability highlights Human rights risk First Scope 3 Sustainalytics management quantification, vendor Low Risk ESG approach enhanced outreach and survey Risk Rating across governance, risk assessment and with select partners under purchased as of November
Slide 8: Clear strategy driving sustainable growth and value creation
Clear strategy driving sustainable growth and value creation 1 Profitably grow Canadian footprint 2 Scale up Dollarcity business in LATAM 3 Transform Australia and accelerate growth 4 Optimize capital allocation to drive returns • Grow Dollarama store • Continue to grow footprint • Scaled entry, cr
Slide 9: A strong core business
A strong core business 9 - Dollarama Investor Presentation Q4-FY2026
Slide 10: A diversified product mix offering compelling value in Canada
A diversified product mix offering compelling value in Canada Product categories1 13% General merchandise Consumables Seasonal 39% $0.25-$5.00 Merchandise 48% sold at low fixed price points Electronics Cleaning supplies Christmas General merchandise Easter Consumables Hardware Confectionery Seasonal
Slide 11: Effective sourcing and merchandising
Effective sourcing and merchandising Product sourcing expertise and Efficient in-store built-in flexibility merchandising • Strong direct sourcing capabilities, • Clean, bright, compact four-wall reducing costs associated format with consistent offering and with intermediaries and increasing layout
Slide 12: Strong brand recognition and broad customer appeal in Canada
Strong brand recognition and broad customer appeal in Canada A value retail shopping destination Serving customers from all walks of life • Recognized for value for money • Appeals to all demographics and and convenience income ranges • Customers appreciate the breadth and • High representation of y
Slide 13: Enhancing and evolving the service model and customer experience
Enhancing and evolving the service model and customer experience Queue line and check-out process Growing digital footprint to bring optimization additional customer convenience • Optimized queue lines for increased • Growing presence on third-party delivery impulse item displays; in 1,600+ stores p
Slide 14: Optimizing processes and gaining efficiencies
Optimizing processes and gaining efficiencies Retail system optimization Time management and training to drive efficiency • Kronos advanced scheduling • POS systems • Mobile apps • NCR POS terminals • “GPS” training program Energy efficiency projects that Shrink management and also support ESG goals
Slide 15: Driving profitable growth in Canada
Driving profitable growth in Canada 15 - Dollarama Investor Presentation Q4-FY2026
Slide 16: Well-balanced and growing Canadian store network
Well-balanced and growing Canadian store network 1 1 Store footprint1 Store footprint1 (By geography) (By market type) 156 128 7% 204 52 58 Atlantic Canada 19% 25% Urban 656 435 28% 26% Quebec Satellite Ontario Suburban Western Canada 26% Rural 30% 39% Head office in Montreal Network of logistics
Slide 17: Efficient and profitable network growth in Canada
Efficient and profitable network growth in Canada • Strong free cash flow generation to fund $3.2M organic network growth Average annual store sales within 2 years of opening • Efficient capital model requiring an avg. of $920K in leasehold improvements, fixtures and inventory, net of tenant allowan
Slide 18: A robust evaluation process: path to 2,200-store target in Canada
A robust evaluation process: path to 2,200-store target in Canada Micro Macro Theoretical True potential potential potential potential Assessment of real estate Internal validation of Result of micro and Potential adjusted based on opportunities, population growth and competitive feasibility of asse
Slide 19: Scaling up Dollarcity
Scaling up Dollarcity 19 - Dollarama Investor Presentation Q4-FY2026
Slide 20: Dollarcity, a proven high-potential LATAM value retailer
Dollarcity, a proven high-potential LATAM value retailer Compelling growth platform in dynamic LATAM markets with appetite for Dollarama model 60.1% 5 operating countries Equity interest in CARS, Growing presence in Colombia, El Strong local partners and management team with option to purchase Salva
Slide 21: A growing footprint in key markets
A growing footprint in key markets Store footprint (By geography) 13% Colombia El Salvador 17% Mexico Guatemala 58% 11 Peru 12% Mexico Guatemala 116 El Salvador Panama 85 Store network growth 11 (Number of stores) Colombia 105 415 79 50 Head office 24 in Panama City 415 368 Peru 311 732 stores in
Slide 22: Long-term target of 1,050 Dollarcity stores
Long-term target of 1,050 Dollarcity stores1 Maintain pace of growth; Build efficient and low-cost operating grow presence in key markets platform to support growth • Long-term store target revised • Building up logistics platform to to 1,050 Dollarcity stores by 20311 support growth plans – decentr
Slide 23: Multi-year transformation of Dollarama Australia
Multi-year transformation of Dollarama Australia 23 - Dollarama Investor Presentation Q4-FY2026
Slide 24: Dollarama Australia today
Dollarama Australia today Largest national discount retailer in Australia Well-located national store network spanning every state A$916M ~7,700 sq. ft. FY26 stand-alone sales1 Average store size2 Brisbane Logistics Hub Northern (A$10.6)M ~5,800 employees Territory at end of FY26 85 FY26 stand-alone
Slide 25: Bringing Dollarama's value proposition to Australia
Bringing Dollarama’s value proposition to Australia Strategic Pillars FY27 Priorities1 Beyond FY271 • Introduce first Dollarama-import SKUs with • Deploy value proposition through continued gradual ramp-up in second half of FY27 phase-in of Dollarama products Merchandising strategy • Target of appro
Slide 26: Q4 FY2026 Financial metrics
Q4 Financial metrics 26 - Dollarama Investor Presentation Q4-FY2026 FY2026
Slide 27: Robust financial performance
Robust financial performance FOURTH QUARTER ENDED Y-O-Y FISCAL YEAR ENDED Y-O-Y (in millions of dollars, except per share amounts) Feb. 1, 2026 Feb. 2, 2025 Growth Feb. 1, 2026 Feb. 2, 2025 Growth Comparable store sales in 1.5% 4.9% 4.2% 4.6% Canada1 Sales $2,101 % of sales $1,881 % of sales 11.7% $
Slide 28: Best-in-class performance on key metrics
Best-in-class performance on key metrics Strong organic growth with low Rigorous execution results in strong Return on invested capital requirements operating margin2 capital3 LTM (%) (%) Growth and cash conversion (%) 21.6 Dollarama 21.0% 10% EMPIRE COMPANY Dollar General 4.9% Last three fiscal yea
Slide 29: Strong key metrics growth
Strong key metrics growth Store count in Canada1 Sales (Number of stores) 1,691 ($M) 7,256 1,486 1,551 1,616 6,413 1,356 1,421 5,867 1,225 1,291 5,053 1,095 1,160 4,026 4,331 3,266 3,549 3,787 2,963 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY2
Slide 30: Best-in-class margins
Best-in-class margins EBITDA margin1 Operating margin2 (%) (%) 25.5% 26.7% 26.7% 23.8% 22.9% 23.6% 30.4% 29.3% 31.7% 33.1% 33.2% 21.8% 23.1% 21.4% 22.7% 28.1% 29.6% 30.1% 23.7% 25.3% 2 3 3 4 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 IAS 17 I
Slide 31: A balanced approach to capital allocation
A balanced approach to capital allocation Invest in organic growth Return capital to shareholders • Opened an average of 69 net new stores annually in the last • Maximize shareholder returns with a focus on value- 15 fiscal years enhancing share buybacks (approx. 45% of public float repurchased sinc
Slide 32: Returning capital to shareholders
Returning capital to shareholders ~$8.3B Uses of cash returned to shareholders in (in millions of dollars) share repurchases since FY13 1,168 1,121 Dividends Share repurchases 957 862 752 753 736 670 584 ~$840M 1,071 478 1060 844 381 331 813 returned to shareholders in 625 705 689 656 dividends sinc
Slide 33: Actively managed capital structure
Actively managed capital structure 88%2 $1,451M1 Debt structure as at Q4-FY2026 fixed rate debt available liquidity ($332M cash + $1,048M and A$75M $600M available under credit facilities)3 Fixed $500M 3.850% Fixed $450M $375M 5.533% $375M Fixed Fixed Fixed 5.165% 3.31%2 3.62 $300M 1.871% Fixed 2.44
Slide 34: Strong track record of shareholder value creation
Strong track record of shareholder value creation Stock performance of a $100 investment since IPO 4,500 4,300 Dollarama (Total Cumulative Return of a $100 investment) 4,100 3,900 635% 3,700 TSX Capped Consumer 10-year total 3,500 Discretionary Index shareholder return1 3,300 3,100 2,900 2,700 2,500
Slide 35: Appendix
Appendix 35 - Dollarama Investor Presentation Q4-FY2026
Slide 36: A seasoned board and management team
A seasoned board and management team Executive officers Neil Rossy President and Chief Executive Officer Board of directors Johanne Choinière Stephen Gunn Nicholas Nomicos Chief Operating Officer Chair of the Board Senior Advisor Corporate Director Nonantum Capital Partners Patrick Bui Joshua Bekens
Slide 37: Dollarama through the years: Laying the foundations for Canadian expansion
Dollarama through the years: Laying the foundations for Canadian expansion 1910-1992 1994-2006 2009-2012 2013-2015 Three generations of Rossy’s Dollarama experiences In 2009, Dollarama introduces Dollarama starts testing its grow a family business rapid growth and by 2006, price points above $1.00 c
Slide 38: Dollarama through the years (cont'd): Canadian leadership and growing international presence
Dollarama through the years (cont’d): Canadian leadership and growing international presence 2015-2017 2019 2021-2023 2024-2025 In 2015, Dollarama By 2019, there are Dollarcity enters Peru in 2021. In 2024, Dollarama increases has 1,000 stores and 1,300 Dollarama stores Dollarcity ownership In 2022,
Slide 39: Parallels with Dollarama business model
Parallels with Dollarama business model (Fiscal year ended February 1, 2025) (Fiscal year ended December 31, 2024) (Fiscal year ended June 30, 2024) 9% 7% General merchandise 13% 39% 42% Product categories1 Consumables 42% 49% 51% Seasonal 48% Imported 43% Sourcing mix2 53% 47% 52% 48% 57% Domestic
Slide 40: DOL vs. Canadian dollar store landscape
DOL vs. Canadian dollar store landscape Three-year store count ~6.1x Thousands of people per Dollarama store2 Dollarama vs. next four pure play competitors1 larger than our next largest pure 1,800 1,691 Q4-F24 Q4-F25 Q4-F26 play competitor 1,616 32 1,551 in Canada 1,600 1,400 26 22 22 ~3.3x 1,200 1
Slide 41: DOL vs. US pure play dollar stores
DOL vs. US pure play dollar stores DOLLARAMA DOLLAR GENERAL DOLLAR TREE LTM revenue (millions) C$6,801 US$42,724 US$18,961 1 LTM EBITDA (millions) C$2,350 US$3,370 US$1,731 Number of stores 1,691 20,893 9,269 SCALE Average sales / store (millions) C$4.1 US$2 US$2 Average store size (sq. ft) 10,455 7
Slide 42: Dollarcity governance framework
Dollarcity governance framework Dollarama board of directors Dollarama (60.1%) • Majority representation on the boards of Dollarcity and of the parent company of the entity Central American that will operate the Mexico portion of the business, with certain strategic and operational decisions being s
Slide 43: Non-GAAP and Other Financial Measures
Non-GAAP and Other Financial Measures EBITDA represents net earnings plus income taxes, net financing costs and depreciation and amortization and includes the Corporation’s share of net earnings of its equity-accounted investments. Management believes EBITDA measure represents a supplemental metric
Slide 44: Non-GAAP and Other Financial Measures (cont'd)
Non-GAAP and Other Financial Measures (cont’d) Free Cash Flow represents cash flow from operating activities after capital expenditures and lease repayments. A reconciliation of cash flows from operating activities to Free Cash Flow (FCF) is included below: QUARTER ENDED FISCAL YEAR ENDED (in thousa
Slide 45: Non-GAAP and Other Financial Measures (cont'd)
Non-GAAP and Other Financial Measures (cont’d) Adjusted net debt to EBITDA ratio is a ratio calculated using adjusted net debt over consolidated EBITDA for the last twelve months. Management uses this ratio to partially assess the financial condition of the Corporation. An increasing ratio would ind
Slide 46: Non-GAAP and Other Financial Measures (cont'd)
Non-GAAP and Other Financial Measures (cont’d) EBITDA margin represents EBITDA divided by sales. Management believes that this measure is useful in assessing the performance of ongoing operations and efficiency of operations relative to its sales. A reconciliation of EBITDA to EBITDA margin is inclu
Slide 47: Thank you
Thank you Dollarama Inc. 5805 Royalmount Ave. Montreal, QC H4P 0A1