Investor Presentation – Q4-FY2026 (Investor Presentation 2026 03 24 FY26Q4 vF)

A leading Canadian value retailer with international reach

Investor Presentation - Q4-FY2026

March 24, 2025

To be the leading value retailer in every market in which we operate, providing customers with unsurpassed value for their hard-earned money in a time-pressed world

Entrepreneurial People-focused Value-oriented Passionate

Agile and solution-driven

Innovative

To provide customers from all walks of life with the best quality and value on every dollar they spend and with proximity and convenient access

to affordable, everyday items that address their needs and exceed their expectations

3 - Dollarama Investor Presentation Q4-FY2026

$7.3B

Revenues

13.1%

Sales growth

$2.4B

4.2%

Comparable store sales growth1 in Canada

EBITDA or

33.2% of sales1

Gross margin1 as a % of sales

45.0%

15.1%

LTM SG&A

$1.1B

as a % of sales

$191.5M

Free cash flow generation1

Dollarcity net earnings contribution

Recognized Canadian brand serving customers from all walks of life

Differentiated concept offering compelling value at multiple, low fixed price points

Consistent shopping experience and broad assortment of everyday products

Capital-efficient, growth-oriented business model with a superior direct sourcing platform

Nimble operator who has consistently delivered robust financial and operational results

Strong track record of stakeholder value creation since 2009 IPO

4 - Dollarama Investor Presentation Q4-FY2026

All figures for Last Twelve Months (LTM) are at Q4-FY26 quarter ended February 1, 2026 and, except for SSS growth, are on a consolidated basis which include the financial results of Dollarama Australia Pty Limited from July 22, 2025 to February 1, 2026

1. Refer to section entitled "Non-GAAP and Other Financial Measures" of the "Appendix" section of this presentation or of the Q4-FY26 MD&A for the definition of these items and, where applicable, their reconciliation with the most directly comparable GAAP measure

(Since 1992)

1,691 stores

(Since Q2 2025)

11 stores

(Since 2013)

116 stores

(Since 2016)

415 stores

(Since Q2 2025)

402 stores

(Since 2013)

85 stores

(Since 2021)

105 stores

2,8252

retail locations in seven countries

43,000+2

employees on three continents

2,200

Dollarama stores in Canada by 2034

1,050

Dollarcity stores in LATAM by 2031

(excluding Mexico)

700

Stores in Australia by 2034

5 - Dollarama Investor Presentation Q4-FY2026

Dollarama geographic presence as at the fourth quarter ended February 1, 2026 (Q4-FY26) Dollarcity store count and countries of operation as at Dollarcity's latest quarter ended December 31, 2025

1. Represents forward-looking information, please refer to the ''Forward-looking statements'' section of

   this presentation for additional information

2. The Corporation's investment in Dollarcity is accounted for as a joint arrangement using the equity method

Recognized as a reputable and valuable brand in Canada; sought-after destination for everyday and seasonal goods

Broad assortment of products at multiple, low fixed price points in a clean, compact, consistent format and shopping experience

Superior direct sourcing and buying capabilities, supported by efficient logistics, delivering compelling value to customers

Nimble operator with proven track record, strong team committed to disciplined execution, culture of agility and entrepreneurship

In 7 countries with unrivalled Canadian presence, and strong penetration in Australia and select LATAM markets

Value proposition that appeals to broad range of consumer profiles across demographics, income ranges and markets

Simple, cost-effective growth-oriented business model and operations, solid growth metrics and investment payback periods

Robust infrastructure for budgeting, store operations and replenishment; growing internal data and analytics capabilities

6 - Dollarama Investor Presentation Q4-FY2026

across governance, risk assessment and indirect vendor engagement activities and processes

with select partners under purchased goods and transportation (Categories 1 and 4) on climate initiatives

as of November 2025

A

to support talent retention

and development

in support of ongoing climate

strategy review

as of March 2026

7 - Dollarama Investor Presentation Q4-FY2026

• Grow Dollarama store network across Canada in a disciplined manner

• Maintain store payback period overtime

• Optimize logistics operations in support of network growth

• Long-term target of 2,200 Dollarama stores by 20341

• Continue to grow footprint in the four current countries of operation

• Expand into Mexico with first store opened in June 2025 and 11 stores at the end of FY26

• Target of 1,050 Dollarcity stores by 2031 (excluding Mexico)1

• Scaled entry, creating platform for sustained growth

• Unlock growth and margin expansion using proven Dollarama playbook and operational discipline

• Underpenetrated market; target of ~700 stores by 20341

• Invest in business to fuel organic and strategic growth

• Actively manage balance sheet and capital structure

• Disciplined deployment of capital to generate attractive returns

• Focus on shareholder returns via share buybacks and dividend using excess free cash flows

  Across all regions, maintain compelling value proposition, promote initiatives to maintain low-cost operating model and guided by our ESG framework and commitment to serving customers from all walks of life

  8 - Dollarama Investor Presentation Q4-FY2026

  1. Represents forward-looking information, please refer to the ''Forward-looking statements'' section of

  this presentation for additional information

  A strong

  core business

  9 - Dollarama Investor Presentation Q4-FY2026

  
  
  

  A diversified product mix offering compelling value in Canada

  General merchandise Consumables Seasonal Electronics
  
  Hardware Homeware Kitchenware
  
  Party supplies
  
  Stationery
  
  Toys & apparel
  
  

  Cleaning supplies

  
  
  

  Confectionery

  Drinks & snacks
  
  Food/pantry Health & beauty
  
  Paper, plastics & foils Pet care
  
  

  Christmas

  
  
  

  Easter

  Halloween
  
  
  
  
  
  

  Souvenirs Spring

  St. Patrick's Day

  Summer

  Winter
  
  Valentine's Day
  
  

  10 - Dollarama Investor Presentation Q4-FY2026

  Product categories1

  13%

  39%

  48%

  Merchandise sold at low fixed price points

  General merchandise

  Consumables Seasonal

  39%

  47%

  61%

  53%

  Private label

  National brands

  Direct Import

  North American Vendors

  Department and seasonal listings not exhaustive Retail values are for the Canadian segment

  1. Product categories are based on FY2025 retail value

  2. Brand mix is based on retail value for FY2025

  3. Sourcing mix is based on total procurement volume for FY2025

  Sourcing mix3 Brand mix2

  $0.25-$5.00

  
  
  

  Effective sourcing and merchandising

  Product sourcing expertise and built-in flexibility

  • Strong direct sourcing capabilities, reducing costs associated

    with intermediaries and increasing bargaining power with suppliers

  • Flexible product mix (brand vs. private label, import vs. domestic)

  • Objective to refresh 25-35% of SKUs on an annual basis with no loss leaders

  • Pricing flexibility through multi-price point strategy

  • Product selection supported by industry/trend tracking, customer feedback and analytics

    Efficient in-store merchandising

  • Clean, bright, compact four-wall format with consistent offering and layout chain-wide

  • Optimized product placement and display designs

  • Effective merchandising system for

    execution of resets

  • Flexible zonogram by department (vs. fixed planogram) resulting in efficient everyday facing/zoning

  • Centralized logistics and distribution; differentiated store replenishment and inventory management approach

    11 - Dollarama Investor Presentation Q4-FY2026

    
    
    

    Strong brand recognition and broad customer appeal in Canada

    A value retail shopping destination

    • Recognized for value for money

      and convenience

    • Customers appreciate the breadth and depth of the product assortment

    • Sought-after destination for focused trips as well as routine shopping

      Serving customers from all walks of life

    • Appeals to all demographics and

      income ranges

    • High representation of young families

    • Highly loyal customer base

      6

      #6

      most reputable brand in Quebec and #8 in Canada according to Leger 2025 Reputation survey

      2

      #2

      strongest brand in Canada according to Brand Finance Canada Global Top 10 2025 ranking

      38

      #38

      most valuable brand

      in Canada according to Brand Finance Canada 100 2025 ranking

      
      
      

      12 - Dollarama Investor Presentation Q4-FY2026

      
      
      

      Enhancing and evolving the service model and customer experience

      Queue line and check-out process optimization

      • Optimized queue lines for increased impulse item displays; in 1,600+ stores

      • From u-shaped to straight line

        POS check-out design to accelerate transactions

      • Self-checkouts technology selectively deployed in high traffic stores to accelerate transaction processing;

in approximatively 1/5 of stores

• Growing presence on third-party delivery platforms through participating stores to bring added convenience

• Approximately 1,600 participating stores on Instacart, Uber Eats, Doordash and/or Skip delivery platforms across Canada

  Constantly evolving the service and customer interaction model to stimulate sales and to stay abreast of consumer and industry trends

  13 - Dollarama Investor Presentation Q4-FY2026

  
  
  

  Optimizing processes and gaining efficiencies

  
  
  Retail system optimization to drive efficiency

  • POS systems

  • NCR POS terminals

    
    
    Energy efficiency projects that also support ESG goals

  • LED retrofits

  • HVAC system upgrades

  • Baler installation (in-store recycling)

    Time management and training
    
    

  • Kronos advanced scheduling

  • Mobile apps

  • "GPS" training program

    
    
    Shrink management and loss prevention

  • Security camera installation

  • Other shrink management initiatives and programs

Technology investments and enhanced centralized data and analytics capabilities driving execution across our operations

14 - Dollarama Investor Presentation Q4-FY2026

Driving profitable growth in Canada

15 - Dollarama Investor Presentation Q4-FY2026

Well-balanced and growing Canadian store network

1 1

(By geography)

7%

28%

26%

39%

(By market type)

19% 25%

26%

30%

156

204 52 58

656 435

128

Head office in Montreal

1,691 stores across Canada

3

Network of logistics activities in Montreal area; Calgary logistics hub under development, to be operational by end of 20274

(By geography - last 2 years)

Atlantic Canada Quebec Ontario

Western Canada

(By building type)

19%

81%

$4.1M

Average store annual sales

10,455 sq.ft.3

Average per store

~85%

of Canadian households within 10 km of a Dollarama

17.7M sq.ft.3

of retail space and 2.7M sq.ft.3

of logistics space in Canada

16 - Dollarama Investor Presentation Q4-FY2026

1. All figures are for stores in Canada as at the fourth quarter ended February 1, 2026 (Q4-FY26)

   4%

   19%

   46%

   31%

2. New store openings by geography for two-year period from Q4-FY24 to Q4-FY26

3. All figures are for the Canadian segment as at the FY26 ended February 1, 2026 (Q4-FY26)

4. Represents forward-looking information, please refer to the ''Forward-looking statements'' section of

   this presentation for additional information

   
   
   
   
   
   
   

   Efficient and profitable network growth in Canada

   Average annual store sales within 2 years of opening

   New store average investment

   store payback period

   • Strong free cash flow generation to fund organic network growth

     $3.2M

     
     
     

     ~$920K

     
     
     

   • Efficient capital model requiring an avg. of $920K in leasehold improvements, fixtures and inventory, net of tenant allowance, for a new store

   • Quick sales ramp up and average payback

     ~2 years

     
     
     

     period for new stores of approximately 2 years, resulting in low capital intensity and high ROI on network growth

   • Low store network maintenance capex requirements

     17 - Dollarama Investor Presentation Q4-FY2026 All figures are for stores in Canada as at February 1, 2026

     
     
     

     2,200 stores

     by 20341

     Micro potential

     Assessment of real estate opportunities, population growth and competitive intensity

Year Store target1 Status

2009 (IPO) 900

Achieved in 2014

2012 1,200 Achieved in 2018

2015 1,400 by 2022 Achieved in 2021

2017 1,700 by 2027 Updated in 2021

18 - Dollarama Investor Presentation Q4-FY2026

All figures are for stores in Canada as at February 1, 2026

1. Represents forward-looking information, please refer to the ''Forward-looking statements'' section of

this presentation for additional information

Scaling up

Dollarcity

19 - Dollarama Investor Presentation Q4-FY2026

60.1%

5 operating countries

Compelling growth platform in dynamic LATAM markets with appetite for Dollarama model

732

Equity interest in CARS, with option to purchase an additional 9.89% stake

Dollarcity stores in Latin America, based on localized Dollarama concept

US$1.5B

2025 revenues

Growing presence in Colombia, El

Salvador, Guatemala, Peru and Mexico

Mexico expansion

First store opened in June 2025, now at 11 stores. 80.05% equity interest with option for additional 4.945%

$191.5M

LTM net earnings contribution

Successful in adopting and adapting Dollarama model to LATAM markets and consumers

Strong store network growth with three new markets

entered since 2017 (Colombia, Peru and Mexico)

Sales performance comparable to DOL; rapid new store sales ramp up

Dollarcity expansion including in Mexico expected to

be self-funded through Dollarcity excess cash flows

High potential market in Mexico, the 2nd largest LATAM economy with a population over 130 million

20 - Dollarama Investor Presentation Q4-FY2026

Store count and countries of operation as at Dollarcity's last quarter ended December 31, 2025 Financial results are for Dollarcity's last fiscal year ended December 31, 2025

The Corporation's investment in Dollarcity is accounted for as a joint arrangement using the equity method

Please refer to MD&A and AIF for further details on Dollarcity