Alimentation Couche-tard Inc. · TSX:ATD
Alimentation Couche-tard — Merger or Acquisition (March 2023)
13 slides from Alimentation Couche-tard's merger presentation, Mar 16, 2023
Slide 1: Investor Presentation – Firm Offer to Acquire Certain European Assets from TotalEnergies
ALIMENTATION COUCHE-TARD INVESTOR PRESENTATION – FIRM OFFER TO ACQUIRE CERTAIN EUROPEAN ASSETS FROM TOTALENERGIES March 16, 2023 1
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS Certain statements in this presentation and the accompanying oral presentation, which describe Couche-Tard’s objectives, projections, estimates, expectations or forecasts, may constitute forward looking statements within the meaning of securities legislation, including tho
Slide 3: Transaction Overview
TRANSACTION OVERVIEW Retail network operating in Germany and the Benelux, with the purchase of 100% of the shares of the Germany and Netherlands companies, and 60% of the Belgium and Luxembourg companies Store The network, at the end of 2022, includes 2,193 stores, of which 1,195 are in Germany; 1,2
Slide 4: Compelling Strategic Rationale
COMPELLING STRATEGIC RATIONALE ❖ Unique opportunity to invest into a complementary & winning network with leading positions in large economies in Europe; strong geographic & strategic fit ❖ Leading positions in fuel, leading B2B network and expected significant synergy opportunities (~ €120M3 over t
Slide 5: Network Overview, Margin Profile & Combined European Presence
NETWORK OVERVIEW, MARGIN PROFILE & COMBINED EUROPEAN PRESENCE With the proposed acquisition Circle K would move from serving a population of 70M to 185M 2 Based on unaudited financial information of the contemplated entities 1 Margin, which represents revenues less cost of sales, does not represent
Slide 6: Pro Forma Profile – Addition of ~2,200 Sites and ~3,000 Team Members
PRO FORMA PROFILE – ADDITION OF ~2,200 SITES AND ~3,000 TEAM MEMBERS OVER 4 NEW EUROPEAN COUNTRIES 28 COUNTRIES & TERRITORIES 6
Slide 7: High-Quality Locations in All Countries
HIGH-QUALITY LOCATIONS IN ALL 4 COUNTRIES 7
Slide 8: Solid Balance Sheet and Capacity to Invest
SOLID BALANCE SHEET AND CAPACITY TO INVEST – STRONG TRACK RECORD OF DELEVERAGING POST ACQUISITIONS Investment Grade Credit Rating BBB / Baa2 S&P / Moody’s Leverage Ratio2,3 Q3/23 1.46 below 2.25 target Incremental Balance Sheet Capacity4 ~ $10 billion incremental debt (1,3) 1 Pro forma ratios based
Slide 9: Investment Highlights
INVESTMENT HIGHLIGHTS • Global rebrand initiative permits better leverage of broad scale. Size and Scale • More flexibility to compete compared to small-size operators. • Decentralized model drives accountability and entrepreneurship. Strong Culture • Cost discipline and lean operations are a major
Slide 10: Non-IFRS Measures
NON-IFRS MEASURES Non-IFRS Measures To provide more information for evaluating the Corporation’s performance, the financial information included in this presentation contains certain data that are not performance measures under IFRS (“non-IFRS measures”), which are also calculated on an adjusted bas
Slide 11: Non-IFRS Measures
NON-IFRS MEASURES Earnings before interest, taxes, depreciation, amortization and impairment (‘EBITDA’), adjusted EBITDA and Pro- forma adjusted EBITDA EBITDA represents net earnings plus income taxes, net financial expenses, and depreciation, amortization and impairment. Adjusted EBITDA represents
Slide 12: Investor Relations Contact
INVESTOR RELATIONS CONTACT Jean-Philippe D. Lachance Vice President, Investor Relations and Treasury Investor.Relations@couche-tard.com 12
Slide 13: Thank You
THANK YOUE FUTURE 13
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