Slide 1: A leading Canadian value retailer
A leading Canadian value retailer Investor Presentation – Q1-FY2026 June 11, 2025
Slide 2: Forward-looking statements
Forward-looking statements Certain statements contained in this presentation, and in any discussion during or following this presentation, constitute forward-looking statements about results, levels of activity, performance, goals or achievements of Dollarama and Dollarcity or other future events or
Slide 3: Serving Canadians with purpose
Serving Canadians with purpose Our vision Our purpose Our values To be the leading value To provide Canadians from all Entrepreneurial retailer in every market in walks of life with the best quality which we operate, and value on every dollar they People-focused providing customers with spend and wi
Slide 4: A leading Canadian value retailer (TSX: DOL)
A leading Canadian value retailer (TSX: DOL) $6.5B 45.3% Recognized brand serving Canadians from all walks of life LTM revenues LTM gross margin as a % of sales Differentiated concept offering compelling value at multiple, low fixed price points 9.2% 14.5% LTM sales LTM SG&A Consistent shopping expe
Slide 5: A growing reach and international footprint
A growing reach and international footprint 1,638 10 provinces 2,200 corporate-operated Unrivalled Canadian Dollarama store Dollarama stores across presence with locations in all target by 2034 Canada provinces and two territories #1 85% and only national pure of Canadian households play dollar stor
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 Quebec and multiple, low fixed price points in buying capabilit
Slide 7: Serving Canadians with Purpose – Select FY25 sustainability highlights
Serving Canadians with Purpose – Select FY25 sustainability highlights Human rights risk First Scope 3 Sustainalytics management quantification and Low Risk ESG approach enhanced supplier outreach Risk Rating across governance, risk assessment and to select product and transportation maintained sinc
Slide 8: Clear strategy driving sustainable growth and value creation
Clear strategy driving sustainable growth and value creation 1 2 3 4 Maximize core Profitably grow Scale up Dollarcity Optimize capital allocation business Canadian footprint business in LATAM to drive returns • Maintain compelling • Grow Dollarama store • Continue to grow footprint • Actively manag
Slide 9: A strong core business
Q1 A strong core business 9 - Dollarama Investor Presentation Q1-FY2026 FY2026
Slide 10: A diversified product mix offering compelling value
A diversified product mix offering compelling value 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 Halloween
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
Strong brand recognition and broad customer appeal A value retail shopping destination Serving Canadians 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 young famil
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 1,500+ 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 and environmental Shrink management and efficiency in support of ESG
Slide 15: Driving profitable growth in Canada
Q1 Driving profitable growth in Canada 15 - Dollarama Investor Presentation Q1-FY2026 FY2026
Slide 16: Well-balanced, growing store network
Well-balanced, growing 1,638 stores in 10 Canadian provinces and store network 2 territories Head office and logistics Store footprint Store footprint activities centralized in by geography By market type Montreal area with Calgary 1 logistics hub to be built 1 8% Atlantic Canada 19% 25% Urban 27% S
Slide 17: Efficient and profitable network growth
Efficient and profitable network growth • 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 allowance, for a
Slide 18: A robust evaluation process: path to 2,200-store target
A robust evaluation process: path to 2,200-store target 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 assessment reg
Slide 19: Scaling up Dollarcity
Q1 Scaling up Dollarcity 19 - Dollarama Investor Presentation Q1-FY2026 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 DOL model 60.1% 4 operating countries Total DOL equity interest, Growing presence in Colombia, El Strong local partners and management team with option to purchase Salvador,
Slide 21: A growing footprint in key markets
A growing footprint in key markets Mexico First stores expected to be Store footprint opened in summer 2025 by geography 10% 18% Colombia Guatemala El Salvador 109 59% Guatemala El Salvador Panama 13% 77 Peru Colombia 644 632 377 Store network growth 532 79 81 Head office (Number of stores) in Pan
Slide 22: Long-term target of 1,050 Dollarcity stores
Long-term target of 1,050 Dollarcity stores Maintain pace of growth; Build efficient and low-cost operating grow presence in key markets platform to support growth • Long-term store target revised to • Building up logistics platform to 1,050 Dollarcity stores by 2031 (up support growth plans – decen
Slide 23: Dollarama vs. Dollarcity
Dollarama vs. Dollarcity DOLLARAMA DOLLARCITY Merchandise mix1 (based on annual retail value For the year ended For the quarter ended For the year ended For the quarter ended for respective latest full fiscal years) Feb. 2, 2025 May 4, 2025 Dec. 31, 2024 March 31, 2025 49% 48% 42% Dollarama Number o
Slide 24: Acquisition of Australian discount retailer The Reject Shop
Q1 Acquisition of Australian discount retailer FY2026 The Reject Shop 24 - Dollarama Investor Presentation Q1-FY2026
Slide 25: Transaction summary
Transaction summary • On March 26, 2025, Dollarama entered into a scheme implementation agreement with The Reject Shop (ASX: TRS) Acquisition • Proposed acquisition of all ordinary shares of The Reject Shop for an all-cash consideration of A$6.68 per share summary − Represents 108% premium to The Re
Slide 26: Financial metrics
Q1 Financial metrics 26 - Dollarama Investor Presentation Q1-FY2026 FY2026
Slide 27: Robust financial performance
Robust financial performance FIRST QUARTER ENDED Y-O-Y FISCAL YEAR ENDED Y-O-Y (in millions of dollars, except per share amounts) May 4, 2025 Apr. 28, 2024 Growth Feb. 2, 2025 Jan. 28, 2024 Growth Comparable store sales 4.9% 5.6% 4.6% 12.8% Sales $1,521 % of sales $1,406 % of sales 8.2% $6,413 % of
Slide 28: Best-in-class performance on key metrics
Best-in-class performance on key metrics Strong organic growth with low capital Balanced approach to operating margin Return on invested capital2 requirements LTM EBIT margin (%) (%) Growth and cash conversion (%) 27.4 8% Dollarama 22.6% Last three fiscal years store count CAGR Dollar General 4.9% 6
Slide 29: Strong key metrics growth since IPO
Strong key metrics growth since IPO Store count Sales (Number of ($M) 6,413 6,529 stores) 1,551 1,616 1,638 5,867 1,421 1,486 1,291 1,356 5,053 1,160 1,225 4,331 1,095 3,787 4,026 3,266 3,549 2,963 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 YTD FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25
Slide 30: Best-in-class margin since IPO
Best-in-class margin since IPO EBITDA margin EBIT margin (%) (%) 26.7% 27.4% 33.1% 33.7% 25.5% 30.4% 30.1% 31.7% 23.1% 23.8% 22.9% 22.7% 23.6% 29.3% 28.1% 29.6% 21.8% 21.4% 23.7% 25.3% 2 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 LTM FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 LTM IAS
Slide 31: A balanced approach to capital allocation
A balanced approach to capital allocation Invest in organic growth Return capital to shareholders • New stores (avg. of 66 net new stores opened annually in last • Maximize shareholder returns with a focus on value- 10 fiscal years) enhancing share buybacks (over 44% of public float repurchased sinc
Slide 32: Returning capital to shareholders
Returning capital to shareholders ~$7.5B Uses of cash (in millions of dollars) 1,121 1,168 returned to shareholders in share repurchases since FY13 Dividends 862 Share repurchases 752 753 736 670 584 1,071 478 1060 381 ~$750M 331 625 705 813 533 689 656 returned to shareholders in 187 436 327 142 di
Slide 33: Actively managed capital structure
Actively managed capital structure 89% $1,279M Debt structure as at Q1-FY2026 fixed rate debt available liquidity ($229M cash + $1,050M undrawn and available under credit facility)1 $500M $450M Fixed $375M Fixed 5.533% $375M Fixed 5.165% Fixed 3.40% 3.0 $250M 1.871% $300M Fixed 2.443% weighted avera
Slide 34: Strong track record of shareholder value creation
Strong track record of shareholder value creation Stock performance since May 4, 2015 4050 Dollarama (Total Cumulative Return of a $100 investment) 3850 3650 TSX Capped Consumer 3450 3250 Discretionary Index 628% 10-year total 3050 shareholder return1 2850 2650 2450 2250 2050 299% 1850 5-year total
Slide 35: Appendix
Appendix 35 - Dollarama Investor Presentation Q1-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
Dollarama through the years 1992 2004 2009 2011 2012 2013 Dollarama founded as Investment by IPO (TSX:DOL) Sale by Bain Capital of Introduction of $2.50 Beginning of single-price point retail Bain Capital remaining equity stake and $3.00 price commercial partnership 585 stores in points with LATAM v
Slide 38: DOL vs. Canadian dollar store landscape
DOL vs. Canadian dollar store landscape Three-year store count Dollarama vs. next four pure play competitors 1 ~6.4x larger than our next largest pure Thousands of people per 1,800 Q1-F24 Q1-F25 Q1-F26 play competitor Dollarama store2 1,638 1,569 1,600 1,507 in Canada 32 1,400 26 22 22 1,200 1,000
Slide 39: DOL vs. US pure play dollar stores
DOL vs. US pure play dollar stores DOLLARAMA DOLLAR GENERAL DOLLAR TREE LTM revenues ($ millions) $6,529 US$41,134 US$24,587 LTM EBITDA ($ millions) $2,200 US$2,969 US$2,381 Number of stores 1,638 20,582 9,016 SCALE Average sales / store ($ millions) C$4.1 US$2 US$3 Average store size (sq. ft) 10,45
Slide 40: 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 that will operate the Mexico portion of the business, with certain strategic and operational decisions being subject to 100% st
Slide 41: Thank you
Thank you Dollarama Inc. 5805 Royalmount Ave. Montreal, QC H4P 0A1