A&w Food Services Of Canada, Inc. · TSX:AW
A&w Food Services Of Canada — Q2 2026 Earnings Presentation
34 slides from A&w Food Services Of Canada's earnings presentation, Jul 23, 2026
Slide 1: A&W Food Services of Canada Inc. Investor Presentation
A&W Food Services of Canada Inc. Investor Presentation TSX: AW.UN July 2026
Slide 2: Cautionary Statements
Cautionary Statements Forward-Looking Information Certain statements in this presentation contain forward-looking information within the meaning of applicable securities laws in Canada. The words “anticipates”, “believes”, “budgets”, “could”, “estimates”, “expects”, “forecasts”, “intends”, “may”, “m
Slide 3: Cautionary Statements (Continued)
Cautionary Statements (Continued) Market and Industry Data This presentation includes market information and industry data obtained from independent industry publications, market research and other publicly available sources. Although management believes these sources to be generally reliable, the a
Slide 4: Our Story & Mission
Our first A&W drive-in opened in 1956 Our Story & Mission Present Day A&W Food Services of Canada is not just the original burger chain—it’s Since 1956 also one of Canada’s fastest-growing one! Our journey began in 1956 with the opening of our first restaurant in Winnipeg. Since then, our delicious bu
Slide 5: Presentation Overview
Presentation Overview ★ A&W Food Services of Canada Inc. | Overview ★ Business Highlights ★ Strategy and Results ★ Recipe for Growth and 2026 Outlook
Slide 6: A&W is a True Canadian Success Story
A&W is a True Canadian Success Story Financial Strength Market Leadership and Stability 2nd Largest QSR Burger Chain and 3rd Largest Restaurant Trailing 4 Quarter System Sales Brand in Canada Franchisor of $1.94bn and Adjusted EBITDA Brand Strength Business Model of $99.1MM(2) Ranked as one of the S
Slide 7: 1,105 A&W Restaurants Across Canada and Growing
Delighting Guests from Coast-to-Coast 1,105 A&W Restaurants Across Canada and Growing(1) 12 new A&W Over 70% of A&W 618 Freestanding 210 Convenience restaurants opened restaurants have a Q2 YTD 2026 drive thru 1 195 18 213 42 3 46 197 339 161 Shopping Centre 116 Urban & Other 22 29 Two standalone Pr
Slide 8: Consistently a Top Ranked Brand in Canada
Consistently a Top Ranked Brand in Canada (1) #7 Strongest Brand in Canada for 2026 #1 Strongest Brand in Canada for 2023 #3 Strongest Brand in Canada for 2025 #1 Strongest Brand in Canada for 2024 #2 Strongest Brand in Canada for 2022 1. Per Brand Finance Canada’s annual reports for 2022 through 20
Slide 9: Proven and Recognized Excellence
Proven and Recognized Excellence
Slide 10: #2 Franchise in Canada, #1 Burger QSR Franchise
Winner of the Elite Franchise Top 100 Canada 2026 #2 Franchise in Canada #1 Burger QSR Franchise in Canada Source Elite Franchise 100 Canada 2026
Slide 11: #1 Best Tasting Burger
#1 Best Tasting Burger(1) #1 Retail Root Beer (2) Best Quality Beef(1) Variety of Plant-Based Iconic Onion Rings Menu Options 1. Ratings are with respect to the six major QSR burger chains in Canada and are based on market consumer research of Synqrinus (conducted in 2026 and commissioned by A&W Foo
Slide 12: A&W Operates in the Large and Growing Burger Segment
A&W Operates in the Large and Growing Burger Segment of the Canadian QSR Market $13.3bn $44.5bn Canadian QSR Bur ger Market Canadian QS(1R) Size(1) Market Size ~2.2% year ove r year growth(1) (1) year growth $1.94bn ~3.7% year over A&W Trailing 4 Quarter (2) System Sale s 1. Based on trailing 12 mon
Slide 13: Revenue, System Sales and Adjusted EBITDA
A Long History of Growth 202 6 ): 5.9% 7- Q2 R (201 CAG ): 5.8% Q2 2026 (2 0 17- CAG R Revenue ($MM) Average EBITDA Margin(1): 31.9% System Sales ($bn)(1) Adjusted EBITDA ($MM)(1)(2) 1. “System Sales”, “Adjusted EBITDA” and “Adjusted EBITDA Margin” are non-IFRS financial measures and non-IFRS ratios.
Slide 14: 20 Year Track Record of Growth
20 Year Track Record of Growth A&W System Sales ($bn) (1) Canadian QSR Industry Growth(2) 217% Canadian Commercial Food Service Industry Growth(2) A&W Annual System Sales Growth(1) 161% 128% (4) (3) 7.4% 3.7% 7.3% 1.5% 2.2% 0.0% (0.7%) 0.4% 6.3% 7.6% 3.4% 2.0% 9.8% 4.1% (14.3%) 14.0% 7.4% 2.7% (0.6%
Slide 15: Best-in-Class on 10-Year System Sales Growth
Best-in-Class on 10-Year System Sales Growth Average Annual Average Annual Same Store Sales Growth(2) System Sales Growth(1)(3) Note: Per public disclosure; average annual growth figures from 2016 to 2025 shown (System Sales growth and Same Store Sales growth excludes 2020 and 2021 due to COVID pande
Slide 16: Q2 Key Performance Indicators
Q2 Key Performance Indicators Q2 2026 Q2 2025 YTD 2026 YTD 2025 System Sales(1) $469,720 $452,291 $872,566 $849,215 System Sales Growth(2) +3.9% +3.4% +2.7% +2.7% Same Store Sales Growth(3) +2.1% +1.6% +1.1% +1.1% Number of A&W restaurants 1,105 1,082 1,105 1,082 (+23 YoY) Net Annual Restaurant Unit
Slide 17: Q2 Financial Highlights
Q2 Financial Highlights Q2 2026 Q2 2025 YTD 2026 YTD 2025 (in thousands of Canadian $) Total revenue $70,841 $68,777 $130,231 $129,910 Income before income taxes $16,003 $17,198 $29,658 $29,642 Adjusted EBITDA(1) $24,430 $25,485 $43,968 $44,921 Adjusted EBITDA Margin(2) +34.5% +37.1% +33.8% +34.6% F
Slide 18: Key Performance Indicators
Key Performance Indicators For the 3 most recently completed fiscal years Fiscal Fiscal Fiscal 3 Year 2025 2024 2023 Average System Sales(1) $1,920,243 $1,868,478 $1,853,119 $1,880,613 System Sales Growth(2) +2.8% +0.8% +4.3% +2.6% Same Store Sales Growth(3) +1.2% -0.6% +2.7% +1.1% Number of A&W rest
Slide 19: Strategic Direction: Guest Experience Results So Far
Strategic Direction 1. Create “can’t wait to come back” appeal and guest experience ★ Improve guest experience through a new 5 star operating system. ★ Establish A&W for many more Canadians as the home of Canada’s best tasting burgers, through menu innovation in Canada. Results So Far… All A&W resta
Slide 20: Strategic Direction: Convenience
Strategic Direction 2. Be highly convenient for our guests, wherever they are ★ Operate and grow a successful mobile app business, including addition of a loyalty program in 2025. ★ Open 200 new restaurants, including 110 in Ontario, half of them in partnership with Petro Canada. Results So Far… ➔ A
Slide 21: Strategic Direction: Make A&W Restaurants More Successful
Strategic Direction 3. Make A&W restaurants even more successful ★ Grow franchisee financial health, implement capital reductions and increase profit ★ Accelerate growth and success in Ontario ★ Operate, market and grow a successful Brew Bar business in every region and concept Results So Far… ➔ The c
Slide 22: Strategic Direction: Easier for Franchisees to Operate
Strategic Direction 4. Make it easier for franchisees and their teams to operate successful restaurants ★ Operating system changes and ongoing training support. ★ Dramatically improve our technology capabilities. Results So Far… ➔ The franchisee rating of technology support capabilities dramatically
Slide 23: The Recipe for Future Growth
The Recipe for Future Growth ★ Market Leadership and Growth: Maintain position as one of Canada's fastest-growing burger chain. ★ Strength of Franchisee Network: Maintain and grow a strong of franchisee network; franchisee demand is strong evidenced by 70% of new A&W locations being opened by existi
Slide 24: Industry Leading Canadian Burger QSR
Industry Leading Canadian Burger QSR Net Restaurant Growth in #2 Burger Chain in Canada Canada(1) Annual Canadian Total Restaurants in +12 units added Q2 YTD 2026 System Sales Canada (Units) (4) ($bn)(2,3) ~3.0% Average Annual +292 units Net Restaurant Growth $7.50 1,489 2014–2025 ~0.6% Average Annu
Slide 25: Significant Whitespace Opportunity
Significant Whitespace Opportunity Untapped New Restaurant Potential Provides Clear Path for Growth Strong Presence in ~425 Restaurant Whitespace Western Canada 1,094(1) 1,522(1) 492 ~537(2) 45 Δ 428 ∆ ★ Robust pipeline of new A&W restaurants to be 339 193 70 opened in partnership largely with existi
Slide 26: Highly Experienced Management Team
Highly Experienced Management Team 15+ Years of A&W Experience on Average Culture of “Climate” developed 40+ years ago to enable the business to be Susan Senecal, Brent Todd, highly successful Kelly Blankstein, Corinne Hua, Mike Atkinson, President & CEO Chief Chief Financial Chief Corporate & EVP O
Slide 27: Strategically Focused on Enhancing the Franchisee Business Model
Strategically Focused on Enhancing the Franchisee Business Model NEW RESTAURANT COST REDUCTION Achieved nearly $500K reduction on the cost of new freestanding FRANCHISEE restaurants through redesign, with PROFITABILITY the first one built with new design in 2025 and further expansion Improved franchi
Slide 28: Expanding Franchisee Profitability
EXPANDING FRANCHISEE PROFITABILITY awcanada awcanada awcanada Optimizing Procurement Overhauling Operating Franchisee Profit Training, and Distribution, and Procedures Guidance, Benchmarking Securing Favorable Contracts for Improved Speed of Service and Skills Development for and Enhanced Guest Impro
Slide 29: Food Services has Exclusive Rights to Pret in Canada
★ Food Services has Exclusive rights to Pret in Canada ★ First stand alone corporately owned shop opened in January 2024 in downtown Toronto ★ Second corporately owned shop opened in January 2026 in Toronto’s TD Centre PATH ★ First franchised shop opened in June 2026 at Vancouver International Airpo
Slide 30: Pret Coffee was Introduced in All A&W Restaurants
★ Pret Coffee was introduced in all A&W restaurants in 2024 and has fueled growth in coffee sales and has created brand awareness across Canada.
Slide 31: Balanced Capital Allocation Priorities
Balanced Capital Allocation Priorities Net Debt to Adjusted EBITDA Invest in the Business Maintain an Attractive For Growth Dividend Maximize Shareholder Returns by 2.2 X(1) E cient Capital Spend Model, Reserve for High-Growth Investments Maintaining an Attractive Dividend such as Pret Annual Divide
Slide 32: 2026 Financial Outlook
2026 Financial Outlook (released March 2026 ) (2026E)(4) Same Store Sales Growth %(3) 0.5% – 3.0% Total A&W restaurant count, end of fiscal year 1,112 – 1,120 System Sales Growth %(2) 2.5% – 5.0% Adjusted EBITDA(1) $103M – $105M 1. “Adjusted EBITDA” is a non-IFRS financial measure. See “Cautionary Sta
Slide 33: Equity Ownership
(1) Equity Ownership Shares owned by Public Shareholders Total Shares owned by ~42% Common Key Shareholders(2) Shares ~54% Outstanding: ~24MM Shares owned by the Directors and Executive Officers(3) ~4% 1. As at June 14, 2026. 2. All shares beneficially owned by Jefferson Mooney, David Mindell, Paul Holl
Slide 34: Thank you!
Thank you!
A&W Food Services of Canada — Q2 2026 Earnings Presentation on 6ix