In a year of widespread economic challenges, I am truly pleased with our progress as we put our customers and people at the forefront of our operations, drove strategic growth across the network, and lived by our values. I am especially proud of our team members for their relentless focus on providing compelling value and ease to our customers, both inside our stores and on our forecourts.

We worked hard to prepare our business for the future as we launched our 10 for the Win strategy and laid the groundwork for simpler, faster, and more efficient ways of working together to better serve our customers.
We set ambitious goals from financial performance to winning in food, thirst, fuel, and network expansion and pushed ourselves to be a better employer and a more responsible retailer.

No doubt, in the back half of this year, we faced near term economic headwinds, especially in the U.S. with our more cash-strapped consumers. However, we believe this trend is transitory, and we feel very good
about our extremely diversified business and its proven resilience.

Value and ease

As many consumers continue to feel a strain on their wallets, we have looked for the best ways to provide them with value and ease. Our most significant initiative has been the roll-out of our Inner Circle loyalty
program this year in the U.S. and the advancement of our Extra loyalty program in Europe. Inner Circle is a free membership program with fuel and food rewards and much more, while also providing new personalized
experiences to our most valuable customers. The program is now in over 4,000 stores, 30 states, and has over six million fully enrolled customers. Inner Circle is an important tool in helping us provide consistent and
high visibility value both inside our stores and at our forecourt, and we are excited that our loyalty members are visiting our locations more frequently.

Over the year, we held fuel promotional events at thousands of stations across the network, whichoffered immediate discounts at the pump as well
as fuel cards touse on future visits. These events are bringing increased awareness to the fuel brand, impactful savings to our customers, and driving traffic to our locations. In August, we held our first ever global
Couche-Tard / Circle K Day, which started in Hong Kong, moved across Europe and North America, and finished in California bringing millions of new and returning visitors to our stores.

Many of our customers are also turning to our private label products to stretch their available cash. We have substantially expanded our portfolio in recent years with products ranging from private label wine to chocolate, chips, proprietary beverages, and much more, all at attractive price points and high quality. The value for our customers is compounded by limited time
offers and bundle deals.

Strategic Roadmap

While our day-to-day focus is always on making our customers’ lives a litter easier, we are also planning for the future as we look to generate more value for our shareholders, simplify work for our team members, and most of all, create a better experience in convenience and mobility for our customers.

This year, we started our five-year strategy, 10 For the Win, which has the financial ambition to grow the business to $10 billion EBITDA1. Importantly, 10 for the Win is not a radical new approach, but rather a framework for continuous improvement of our business and operations with its main pillars building upon our key differentiating strengths.

Fundamental to this new strategy is developing better ways of working together and taking advantage of our global scale and evolving technology. We are enhancing our operating model to reduce duplication, unlock value, and increase speed. We are also looking to improve our tools and processes, including implementing solutions that decrease administrative hours, provide 24-hour customer support, and add
automation to make it simpler for our teams and allow them to focus more on our customers. We are also increasing efficiency as part of our Fit to Serve initiative. Here, our commitment to
disciplined operational cost control has already led to a strong reduction in normalized expenses and we are performing notably better than the weighted average of inflation impacting our business operations. This underscores our commitment to financial prudence and operational excellence, even amidst ongoing economic pressures.

Most Trusted Brand

Our aspiration to be the most trusted brand in convenience and mobility guides the 10 for the Win strategy, and our goalposts are clear: winning the customer, winning offer, and winning fuel. As we work
to become better food operators, we are committed to creating a best-in-class food offer at our locations. We now have Fresh Food, Fast at more than 5,800 locations globally, and our teams are focused on improving profitability and sales by optimizing our supply chain and ensuring availability and in-stock. This includes rolling out new forecast production tools in the U.S. that are leveraging AI to determine demand more accurately. Sampling also increased globally, driving immediate sales benefit, and we continue to introduce new, popular products that target local tastes.