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A leading Canadian value retailer with international reach Investor Presentation – Q2-FY2026 August 27, 2025
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All amounts are expressed in Canadian dollars, unless otherwise indicated2 - Dollarama Investor Presentation Q2-FY2026 Disclaimer Forward-Looking Statements. Certain statements contained in this presentation, and in any discussion in relation to this presentation, constitute forward-looking statements about results, levels of activity, performance, goals or achievements of Dollarama and Dollarcity or other future events or developments that may affect Dollarama and Dollarcity which are based on information currently available to management and estimates and assumptions that management believes are appropriate and reasonable in the circumstances. The words “may”, “will”, “would”, “should”, “could”, “expects”, “plans”, “intends”, “trends”, “indications”, “anticipates”, “believes”, “estimates”, “predicts”, “likely” or “potential” or the negative or other variations of these words or other comparable words or phrases, are intended to identify forward-looking statements. Specific forward-looking statements in this presentation include, but are not limited to, statements with respect to: the Dollarama’s long-term store target, Dollarama’s ESG strategy, Dollarcity's long-term store target, the planned expansion of the operations of Dollarcity in Mexico, the intended development of a logistics hub in Western Canada, and certain anticipated benefits of the acquisition of The Reject Shop Limited and its long-term store target. Forward-looking statements are based on information currently available to management and on estimates and assumptions made by management. However, there can be no assurance that such estimates and assumptions will prove to be correct. Many factors could cause actual results, levels of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements contained herein including, without limitation, the risk factors described in Dollarama’s Annual Management’s Discussion and Analysis (MD&A) dated April 3, 2025 filed with Canadian securities regulators and available on SEDAR+ at www.sedarplus.ca. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management’s expectations as at August 27, 2025, and, accordingly, are subject to change after such date. Except as may be required by law, management has no intention and undertakes no obligation to update or revise any forward-looking statements. All forward-looking statements contained in this presentation are expressly qualified by this cautionary statement. No financial information presented in this presentation as of a date more recent than February 2, 2025 has been audited. Where the information is from third-party sources, the information is from sources believed to be reliable, at the latest as at August 3, 2025, but Dollarama has not independently verified any such information contained herein. Industry and Market Data We have obtained the market and industry data presented in this presentation from a combination of internal company surveys and third-party information and estimates of our management. We know of no third-party source that reports on the Canadian, LATAM or Australian discount retail market and industry data. As such, all Canadian, LATAM or Australian discount retail store market and industry data presented in this presentation is based on internally generated management estimates, including estimates based on our review of third-party web sites. While we believe our internal surveys, third party information, and estimates of our management are reliable, we have not verified them with, nor have they been verified by, any third party or independent sources and we have no assurance that the information contained in web sites is current and up-to-date. While we are not aware of any misstatements regarding the market and industry data presented in this presentation, such data involves risks and uncertainties and are subject to change based on various factors, including those factors discussed above. Non-GAAP and Other Financial Measures This presentation refers, and any discussion in relation to this presentation may refer, to certain non-GAAP and other financial measures. These measures do not have a standardized meaning prescribed by GAAP and are therefore unlikely to be comparable to similar measures presented by other issuers. Consequently, they should not be considered in isolation or as a substitute for financial performance measures calculated in accordance with GAAP. Refer to the section entitled “Non-GAAP and Other Financial Measures” in each of Dollarama’sQ2-FY26 MD&A dated August 27, 2025 and Dollarama’s FY25 MD&A dated April 3, 2025, for the definition of these items and, where applicable, a reconciliation of those measures to the most directly comparable GAAP measures, which sections are incorporated by reference herein and which filings are available on SEDAR+ at www.sedarplus.ca. No Offer and No Solicitation This presentation does not constitute an offer to buy or sell or a solicitation of an offer to buy or sell any securities of Dollarama Inc. and does not constitute or form part of, and under no circumstances is to be construed as, an offering document, such as an offering memorandum, or an advertisement for an offer to buy or sell any securities of Dollarama Inc. or any of its subsidiaries.
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Our vision 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 Our purpose 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 Our values Entrepreneurial People-focused Value-oriented Passionate Agile and solution-driven Innovative 3 - Dollarama Investor Presentation Q2-FY2026 Serving customers with purpose
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$6.7B LTM revenues 14.6% LTM SG&A as a % of sales All figures for Last Twelve Months (LTM) are at Q2-FY26 quarter ended August 3, 2025 and, except for SSS growth, are on a consolidated basis which include the financial results of The Reject Shop Limited from July 22, 2025 to August 3, 2025 1. Refer to the section entitled “Non-GAAP and Other Financial Measures” of the Q2-FY26 MD&A for the definition of these items and, where applicable, their reconciliation with the most directly comparable GAAP measure 2. LTM free cash Flow generation = LTM Cash Flow from Operation (being $427 million at Q2-FY26) – LTM Capital Expenditures (being $61 million at Q2-FY26) – LTM Lease repayments (being $86 million at Q2-FY26) 4 - Dollarama Investor Presentation Q2-FY2026 A high-performing, growth-oriented value retailer (TSX: DOL) 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 9.5% LTM sales growth 45.5% LTM gross margin1 as a % of sales $2.3B LTM EBITDA or 34.0% of sales1 $163.8M LTM Dollarcity net earnings contribution 4.5% LTM comparable store sales growth1 in Canada $0.8B LTM free cash flow generation1,2
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Dollarama geographic presence as at the second quarter ended August 3, 2025 (Q2-FY26) Dollarcity store count and countries of operation as at Dollarcity’s latest quarter ended June 30, 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 method5 - Dollarama Investor Presentation Q2-FY2026 A growing reach and international footprint Canada 1,665 stores (Since 1992) Mexico 1 store (Since Q2 2025) Guatemala 110 stores (Since 2013) El Salvador 79 stores (Since 2013) Colombia 384 stores (Since 2016) Peru 84 stores (Since 2021) Australia 395 stores (Since Q2 2025) 2,7182 retail locations in seven countries 41,000+2 employees on three continents Long-term Store Targets1 2,200 Dollarama stores in Canada by 2034 1,050 Dollarcity stores in LATAM by 2031 (excluding Mexico) 700 Stores in Australia by 2034
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6 - Dollarama Investor Presentation Q2-FY2026 Competitive advantages Broad customer base Value proposition that appeals to broad range of consumer profiles across demographics, income ranges and markets Differentiated concept Broad assortment of products at multiple, low fixed price points in a clean, compact, consistent format and shopping experience International scale In 7 countries with unrivalled Canadian presence, and strong penetration in Australia and select LATAM markets Technology Robust infrastructure for budgeting, store operations and replenishment; growing internal data and analytics capabilities Strong brand Recognized as a reputable and valuable brand in Canada; sought-after destination for everyday and seasonal goods Capital-efficient Simple, cost-effective growth- oriented business model and operations, solid growth metrics and investment payback periods Value proposition Superior direct sourcing and buying capabilities, supported by efficient logistics, delivering compelling value to customers Operational excellence Nimble operator with proven track record, strong team committed to disciplined execution, culture of agility and entrepreneurship
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7 - Dollarama Investor Presentation Q2-FY2026 Serving Canadians with purpose – Select FY25 sustainability highlights Continued deployment of HR technologies to support talent retention and development Multiple decarbonization projects launched in support of ongoing climate strategy review Sustainalytics Low Risk ESG Risk Rating as of July 2025 First Scope 3 quantification, vendor outreach and survey with select partners under purchased goods and transportation (Categories 1 and 4) on climate initiatives AA MSCI Rating as of August 2025 Human rights risk management approach enhanced across governance, risk assessment and indirect vendor engagement activities and processes
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2 1. Represents forward-looking information, please refer to the ‘’Forward-looking statements’’ section of this presentation for additional information8 - Dollarama Investor Presentation Q2-FY2026 Clear strategy driving sustainable growth and value creation 1 3 4 • 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 • Pilot test expansion into Mexico (first store opened in June 2025) • Target of 1,050 Dollarcity stores by 2031 (excluding Mexico)1 • Scaled entry, creating platform for sustained growth • Unlock growth and margin expansion using 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 Scale up Dollarcity business in LATAM Profitably grow Canadian footprint Optimize and accelerate growth in Australia Optimize capital allocation to drive returns
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A strong core business 9 - Dollarama Investor Presentation Q2-FY2026
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47%53%61% 39% 39% 48% 13% 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 A diversified product mix offering compelling value in Canada General merchandise Consumables Seasonal Sourcing mix3 Direct Import North American Vendors Brand mix2 Product categories1 Consumables General merchandise Seasonal $0.25-$5.00 Merchandise sold at low fixed price points Private label National brands Electronics Hardware Homeware Kitchenware Party supplies Stationery Toys & apparel Christmas Easter Halloween Souvenirs Spring St. Patrick’s Day Summer Winter Valentine’s Day Cleaning supplies Confectionery Drinks & snacks Food/pantry Health & beauty Paper, plastics & foils Pet care 10 - Dollarama Investor Presentation Q2-FY2026
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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 25-30% 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 plano) resulting in efficient everyday facing/zoning • Centralized logistics and distribution; differentiated store replenishment and inventory management approach 11 - Dollarama Investor Presentation Q2-FY2026
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12 - Dollarama Investor Presentation Q2-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 #2 strongest brand in Canada according to Brand Finance Canada Global Top 10 2025 ranking #38 most valuable brand in Canada according to Brand Finance Canada 100 2025 ranking #6 most reputable brand in Quebec and #8 in Canada according to Leger 2025 Reputation survey 6 2 38
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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 375+ stores Constantly evolving the service and customer interaction model to stimulate sales and to stay abreast of consumer and industry trends Growing digital footprint to bring additional customer convenience • Growing presence on third-party delivery platforms through participating stores to bring added convenience • Between approx. 1,375 and 1,625 participating stores on Instacart, Uber Eats, Doordash and/or Skip delivery platforms across Canada 13 - Dollarama Investor Presentation Q2-FY2026
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14 - Dollarama Investor Presentation Q2-FY2026 Optimizing processes and gaining efficiencies Retail system optimization to drive efficiency • POS systems • NCR POS terminals 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 Energy and environmental efficiency in support of ESG goals • LED retrofits • HVAC system upgrades • Baler installation (in-store recycling) Technology investments and enhanced centralized data and analytics capabilities driving execution across our operations
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15 - Dollarama Investor Presentation Q2-FY2026 Driving profitable growth in Canada
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1. All figures are for stores in Canada as at the second quarter ended August 3, 2025 (Q2-FY26) 2. New store openings by geography for two-year period from Q2-FY24 to Q2-FY26 3. All figures are for the Canadian segment as at the FY25 ended February 2, 2025 (Q4-FY25) 4. Represents forward-looking information, please refer to the ‘’Forward-looking statements’’ section of this presentation for additional information 16 - Dollarama Investor Presentation Q2-FY2026 Well-balanced and growing Canadian store network Atlantic Canada Quebec Ontario Western Canada 10,458 sq.ft.3 Average per store ~85% of Canadian households within 10 km of a Dollarama 17.4M sq.ft.3 of retail space and 2.7M sq.ft.3 of logistics space in Canada $4.1M3 Average store annual sales Non-mall Mall Urban Satellite Suburban Rural 8% 26% 38% 28% 4% 21% 27% 48% 25% 30% 26% 19% 81% 19% Store footprint1 (By geography) Store footprint1 (By market type) New store openings1,2 (By geography - last 2 years) Store footprint1 (By building type) Atlantic Canada Quebec Ontario Western Canada Head office in Montreal 1,665 stores across Canada Network of logistics activities in Montreal area; Calgary logistics hub under development, to be operational by end of 20274 127154 199 49 58 643 433 1 1
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17 - Dollarama Investor Presentation Q2-FY2026 Efficient and profitable network growth in Canada $3.2M Average annual store sales within 2 years of opening ~2 years store payback period ~$920K New store average investment • Strong free cash flow generation to fund organic network growth • 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 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 All figures are for stores in Canada as at February 2, 2025
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18 - Dollarama Investor Presentation Q2-FY2026 A robust evaluation process: path to 2,200-store target in Canada 2,200 stores by 20341 • Average of ~66 net new stores opened annually over last 10 fiscal years • New store payback period maintained over time • Continued positive customer response to value proposition, third-party analysis, historical and projected data as well as the current real estate pipeline support the updated store target Micro potential Assessment of real estate opportunities, population growth and competitive intensity Macro potential Internal validation of feasibility of assessment region by region with store ops Theoretical potential Result of micro and macro potential assessments True potential Potential adjusted based on Management’s evaluation of market conditions, financial considerations and feasibility of execution 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 2021 2,000 by 2031 Updated in 2024 2024 2,200 by 20341 Current target All figures are for stores in Canada as at February 2, 2025 1. Represents forward-looking information, please refer to the ‘’Forward-looking statements’’ section of this presentation for additional information
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19 - Dollarama Investor Presentation Q2-FY2026 Scaling up Dollarcity
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Store count and countries of operation as at Dollarcity’s last quarter ended June 30, 2025 Financial results are for Dollarcity’s last fiscal year ended December 31, 2024 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 20 - Dollarama Investor Presentation Q2-FY2026 Dollarcity, a proven high-potential LATAM value retailer Compelling growth platform in dynamic LATAM markets with appetite for DOL model Strong local partners and management team Successful in adopting and adapting DOL model to LATAM markets and consumers Strong store network growth execution, 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 of approx. 130 million 60.1% Total DOL equity interest, with option to purchase an additional stake 5 operating countries Growing presence in Colombia, El Salvador, Guatemala and Peru US$1.3B 2024 revenues Mexico expansion First store opened in June 2025 DOL has an 80.05% economic stake in the Mexico business 658 Dollarcity stores in LATAM, based on localized Dollarama concept $163.8M LTM net earnings contribution for DOL
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A growing footprint in key markets 21 - Dollarama Investor Presentation Q2-FY2026 13 26 36 38 40 43 49 52 59 66 72 77 7913 30 39 52 61 67 76 89 99 108 110 3 28 74 118 145 206 261 311 368 384 9 24 50 79 84 1 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 59% 13% 18% 10% Colombia El Salvador Guatemala Peru Mexico As at Dollarcity’s latest quarter ended June 30, 2025 Guatemala 110 El Salvador 79 Colombia 384 Peru 84 Mexico 1 Store footprint (By geography) Store network growth (Number of stores) Head office in Panama City 658 stores in five countries Decentralized logistics operations Panama 1
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22 - Dollarama Investor Presentation Q2-FY2026 Maintain pace of growth; grow presence in key markets • Long-term store target revised to 1,050 Dollarcity stores by 20311 (up from 850 stores by 2029) to reflect the anticipated growth in Peru and Colombia • Entered Colombia in 2017 • Entered Peru in May 2021 • Long-term store target does not incorporate planned Mexico expansion (first store opened in June 2025) Build efficient and low-cost operating platform to support growth • Building up logistics platform to support growth plans – decentralized logistics network with local warehousing in countries of operations, mix of Dollarcity-owned and 3PL operations • Product sourcing from DOL balanced with local sourcing from LATAM • New store opening investment in line with Dollarama Long-term target of 1,050 Dollarcity stores1 1. Represents forward-looking information, please refer to the ‘’Forward-looking statements’’ section of this presentation for additional information
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23 - Dollarama Investor Presentation Q2-FY2026 Optimizing and accelerating growth in Australia
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The largest discount retailer in Australia, representing a solid foothold for market entry All figures as at December 29, 2024 unless otherwise indicated 1. Sales between December 30, 2023 and december 29, 2024 2. Denotes Gross Leasable Area (GLA) 3. For the last twelve months (LTM) ended December 29, 2024. Only includes revenues from stores that have traded for the full financial period . 24 - Dollarama Investor Presentation Q2-FY2026 Dollarama in Australia today • Focused on helping all Australians save money everyday since 1981 • Broad discount-oriented offering of private-label and national brands • Operating under the banner “The Reject Shop” Well-located national store network Hazelmere Distribution centre Truganina Distribution centre Ipswich Distribution centre 44 27 83 98 120 18 Head office in Melbourne 5 ~7,700 sq. ft.2 Average store size A$2.3 million3 Average revenue per store A$866 million1 Sales in 2024 Network growth 354 stores 395 stores Aug. 3, 2025 (Q2-FY26) Jun. 28, 2020 (Q4-FY20)
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Compelling value creation opportunity enabling attractive risk -adjusted returns 1. Represents forward-looking information, please refer to the ‘’Forward-looking statements’’ section of this presentation for additional information25 - Dollarama Investor Presentation Q2-FY2026 Plan for the business: Key value creation pillars for Dollarama in Australia Merchandising strategy • Access to Dollarama’s sourcing expertise and products • New price-point strategy Operational excellence • Optimize store and logistics operations • Invest in IT infrastructure and systems Store experience • Convert to Dollarama shopping experience • New store design and layout, product merchandising Accelerated store network growth • Increase proximity and convenience to Australian customers • Network expansion target to 700 stores in Australia by 2034 1
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26 - Dollarama Investor Presentation Q2-FY2026 Financial metrics Q2 FY2026
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27 - Dollarama Investor Presentation Q2-FY2026 Robust financial performance SECOND QUARTER ENDED Y-O-Y FISCAL YEAR ENDED Y-O-Y (in millions of dollars, except per share amounts) Aug. 3, 2025 Jul. 28, 2024 Growth Feb. 2, 2025 Jan. 28, 2024 Growth Comparable store sales in Canada1 4.9% 4.7% 4.6% 12.8% Sales $1,724 % of sales $1,563 % of sales 10.3% $6,413 % of sales $5,867 % of sales 9.3% Gross margin1 $784 45.5% $707 45.2% 10.9% $2,894 45.1% $2,613 44.5% 10.7% SG&A $241 14.0% $213 13.6% 13.3% $930 14.5% $845 14.4% 10.1% Equity pick-up (Dollarcity) $38 2.2% $23 1.5% 68.9% $130 2.0% $75 1.3% 72.5% EBITDA1 $588 34.1% $524 33.5% 12.2% $2,122 33.1% $1,861 31.7% 14.0% Operating income $483 28.0% $423 27.1% 14.3% $1,711 26.7% $1,496 25.5% 14.4% Net earnings $321 18.6% $286 18.3% 12.4% $1,169 18.2% $1,010 17.2% 15.6% EPS (diluted) $1.16 $1.02 13.7% $4.16 $3.56 16.9% Adj. net debt / LTM EBITDA1 2.05x 2.21x 2.16x 2.16x All figures are at Q2-FY26 quarter ended August 3, 2025 and, except for comparable store sales growth, are on a consolidated basis which include the financial results of The Reject Shop Limited from July 22, 2025 to August 3, 2025 1. Refer to the section entitled “Non-GAAP and Other Financial Measures” of the FYQ2-26 MD&A for the definition of these items and, where applicable, their reconciliation with the most directly comparable GAAP measure
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All financial figures as at Q2-FY26 for Dollarama, as at latest available quarter end for peers (at the latest as at May 27, 2025) Sources: company websites as adjusted by Bloomberg/Factset; Walmart Canada figures not available 1. (EBITDA – CAPEX) / EBITDA 2. LTM EBIT*(1-LTM Effective Tax Rate) / (Total debt + total equity) 3. EBIT = EBITDA - Depreciation and Amortization Best-in-class performance on key metrics 27.7 8.0 8.1 6.7 5.2 7.0 3.9 4.2 5.9 DOL Canadian Tire North West Metro Couche Tard Loblaw Empire Dollar General Dollar Tree Balanced approach to operating margin LTM EBIT margin (%) Canadian retailers with product offering overlap with Dollarama US dollar stores Strong organic growth with low capital requirements Growth and cash conversion (%) Dollarama 20.0% Dollar General 5.0% Dollar Tree 9.1% Couche-Tard 9.6% Empire 5.8% Loblaw 9.0% Metro 9.3% Canadian Tire 6.9% North West 12.1% Return on invested capital2 (%) (2%) 0% 2% 4% 6% 8% 40% 60% 80% 100% Last three fiscal years store count CAGR Cash flow after CAPEX1 EMPIRE COMPANY COUCHE-TARD NORTHWEST DOLLAR GENERAL DOLLARAMA CANADIAN TIRE METROLOBLAWS EMPIRE COMPANY 28 - Dollarama Investor Presentation Q2-FY2026 DOLLAR TREE
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703 826 1,079 1,111 1,131 1,283 1,523 1,861 2,122 2,264 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 Q2-FY26 LTM 3 4 1. This figure is for the Canadian segment as at the second quarter ended August 3, 2025 (Q2-FY26) 2. Refer to the section entitled “Non-GAAP and Other Financial Measures” of the FYQ2-26 MD&A for the definition of these items and, where applicable, their reconciliation with the most directly comparable GAAP measure 3. FY21 EBITDA and net earnings reflect incremental direct costs related to COVID-19 (~$84.0M on a pre-tax basis) 4. FY22 EBITDA and net earnings reflect incremental direct costs related to COVID-19 (~$35.5M on a pre-tax basis) 29 - Dollarama Investor Presentation Q2-FY2026 Strong key metrics growth 1,095 1,160 1,225 1,291 1,356 1,421 1,486 1,551 1,616 1,665 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 Q2-FY26 446 519 545 564 564 663 802 1,010 1,169 1,262 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 Q2-FY26 LTM 3 4 2,963 3,266 3,549 3,787 4,026 4,331 5,053 5,867 6,413 6,666 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 Q2-FY26 LTM Store count1 (Number of stores) IFRS 16IAS 17 Sales ($M) IFRS 16IAS 17 EBITDA2 ($M) IFRS 16IAS 17 Net earnings ($M) IFRS 16IAS 17 This figure is for the Canadian segment as at the second quarter ended August 3, 2025 (Q2-FY26)
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15.5% 14.5% 14.2% 14.6% 16.2% 15.1% 14.3% 14.4% 14.5% 14.6% FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 Q2-FY26 LTM 23.7% 25.3% 30.4% 29.3% 28.1% 29.6% 30.1% 31.7% 33.1% 34.0% FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 Q2-FY26 LTM 21.8% 23.1% 23.8% 22.9% 21.4% 22.7% 23.6% 25.5% 26.7% 27.7% FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 Q2-FY26 LTM 39.2% 39.8% 44.6% 43.6% 43.8% 43.9% 43.5% 44.5% 45.1% 45.5% FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 Q2-FY26 LTM 1. Refer to the section entitled “Non-GAAP and Other Financial Measures” of the FYQ2-26 MD&A for the definition of these items and, where applicable, their reconciliation with the most directly comparable GAAP measure 2. FY21 metrics reflect incremental direct costs related to COVID-19 (~$2.9M in Gross Margin, ~$81.1M in SG&A, ~$84.0M in EBITDA and EBIT) 3. FY22 metrics reflect incremental direct costs related to COVID-19 (~$35.5M in SG&A, ~$35.5M in EBITDA and EBIT) 30 - Dollarama Investor Presentation Q2-FY2026 Best-in-class margins EBITDA margin1 (%) IFRS 16IAS 17 EBIT margin ($M) IFRS 16IAS 17 Gross margin1 (%) SG&A margin (%) 2 32 3 2 32 3 IFRS 16IAS 17 IFRS 16IAS 17
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31 - Dollarama Investor Presentation Q2-FY2026 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 10 fiscal years) • Long-term store target in Canada increased to 2,200 stores by 2034, which will be supported by a two-node logistics model in both Montreal area and Calgary (i.e. WH/DC capacity)1 • Transformational and maintenance capex (enhancing service model, optimizing processes, gaining efficiencies and maintaining assets) • Maximize shareholder returns with a focus on value- enhancing share buybacks (over 44% of public float repurchased since the inception of the NCIB in June 2012) • Consistent dividend distribution throughout the years, approved quarterly (declared every quarter since 2011 inception) • Consistent annual dividend growth throughout the years (dividend increased annually or 14x since 2011) Historical balanced approach to capital allocation has allowed for significant return of capital to shareholders 1. Represents forward-looking information, please refer to the ‘’Forward-looking statements’’ section of this presentation for additional information
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1. FY21 metrics reflect impact of Covid-19 2. Excluding the tax on share repurchases enacted during Q2-FY2532 - Dollarama Investor Presentation Q2-FY2026 Returning capital to shareholders 31 38 42 45 47 49 51 54 55 61 64 80 97 55 156 293 436 625 705 813 533 327 87 1060 689 656 1,071 175 13 187 331 478 670 752 862 584 381 142 1,121 753 736 1,168 230 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 Uses of cash (in millions of dollars) Dividends Share repurchases ~$7.6B returned to shareholders in share repurchases since FY13 ~$781M returned to shareholders in dividends since FY12 1 2
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Oct'25 Jul'26 Sep'27 Sep'28 Jul'29 Apr'30 Dec'30 $375M Fixed 1.871% $375M Fixed 2.443%$250M Fixed 5.084% $450M Fixed 5.165% Maturity Date $600M Fixed 3.850% 1. These numbers are on a consolidated basis 2. These numbers are for Canadian segment only 3. Excludes letters of credit (approximately $1.6M) 4. Including hedges on fixed rate notes 5. The rating of any debt securities is not a recommendation to buy, sell or hold such securities, in as much as such ratings do not comment as to market price or suitability for a particular investor. Each credit rating should be evaluated independently of any other credit rating 6. Refer to the section entitled “Non-GAAP and Other Financial Measures” of the FYQ2-26 MD&A for the definition of these items and, where applicable, their reconciliation with the most directly comparable GAAP measure 33 - Dollarama Investor Presentation Q2-FY2026 89%2 fixed rate debt $1,764M1 available liquidity ($687M cash + $1,077M undrawn and available under credit facilities)3 3.49%2 weighted average cost of debt4 3.32 years weighted average time to maturity $300M Fixed 1.505% BBB(high)/BBB/Baa2 Investment grade ratings from DBRS, S&P and Moody’s5 2.05x1 Leverage (adjusted net debt to EBITDA) ratio6 Debt structure as at Q2-FY2026 $500M Fixed 5.533% Actively managed capital structure
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50 250 450 650 850 1050 1250 1450 1650 1850 2050 2250 2450 2650 2850 3050 3250 3450 3650 3850 4050 4250 4-Aug-15 4-Aug-17 4-Aug-19 4-Aug-21 4-Aug-23 4-Aug-25 (Total Cumulative Return of a $100 investment) Dollarama TSX Capped Consumer Discretionary Index 1. Stock price as at August 4, 2025. Total return without dividend reinvestment34 - Dollarama Investor Presentation Q2-FY2026 Strong track record of shareholder value creation 608% 10-year total shareholder return1 286% 5-year total shareholder return1 Stock performance since August 4, 2015
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35 - Dollarama Investor Presentation Q2-FY2026 Appendix
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36 - Dollarama Investor Presentation Q2-FY2026 A seasoned board and management team Neil Rossy President and Chief Executive Officer Johanne Choinière Chief Operating Officer Patrick Bui Chief Financial Officer Nicolas Hien Chief Information Officer Laurence L’Abbé Senior Vice-President, Legal Affairs and Corporate Secretary Geoffrey Robillard Senior Vice President Import Division Stephen Gunn Chair of the Board Corporate Director Joshua Bekenstein Senior Advisor Bain Capital Partners Gregory David Chief Executive Officer GRI Capital Elisa D. Garcia Corporate Director Kristin W. Mugford Senior Lecturer Harvard Business School Nicholas Nomicos Senior Advisor Nonantum Capital Partners Neil Rossy President and Chief Executive Officer Dollarama Samira Sakhia President and Chief Executive Officer Knight Therapeutics Thecla Sweeney Founding Partner Alphi Capital Huw Thomas, FCPA, FCA Corporate Director Board of directors Executive officers
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1910-1992 Three generations of Rossy’s grow a family business to 44-store variety chain in Quebec. In 1992, Larry Rossy opens first Dollarama store selling items at $1 or less. The concept is a success. 1994-2006 Dollarama experiences rapid growth and by 2006, has 460 stores in all ten Canadian provinces. In 2004, Bain Capital invests majority stake. 2009-2012 In 2009, Dollarama introduces price points above $1.00 and lists on the TSX. By 2012, it has 700 stores and price points up to $3.00, further expanding its product offering. 2013-2015 Dollarama starts testing its concept outside Canada through Dollarcity which has 15 stores in El Salvador. By 2015, Dollarcity is also present in Guatemala. 37 - Dollarama Investor Presentation Q2-FY2026 Dollarama through the years: Laying the foundations for Canadian expansion
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2015-2017 In 2015, Dollarama has 1,000 stores and price points up to $4.00. Dollarcity enters Colombia in 2017 pursuing further expansion. 2019 By 2019, there are 1,300 Dollarama stores in Canada and 440 Dollarcity stores in LATAM. Dollarama acquires 50.1% equity stake in Dollarcity. 2021-2023 Dollarcity enters Peru in 2021. In 2022, Dollarama introduces price points up to $5.00. In 2023, Dollarama opens its 1500th store and Dollarcity its 500th. 2024-2025 In 2024, Dollarama increases Dollarcity ownership to 60.1% and expands partnership to Mexico. In 2025, acquires TRS in Australia and Dollarcity opens its first store in Mexico. 38 - Dollarama Investor Presentation Q2-FY2026 Dollarama through the years (cont’d): Canadian leadership and growing international presence
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39 - Dollarama Investor Presentation Q2-FY2026 Parallels with Dollarama business model Product categories1 Sourcing mix2 Price point range C$0.25 - C$5.00 US$0.69 - US$4.00 A$0.45 - A$15.003 # of stores 1,6654 6584 3954 Average store size ~10,500 sq. ft. ~7,400 sq. ft. ~7,700 sq. ft. # of employees ~28,400 ~8,000 ~5,000 Population 41.4 million5 247.2 million5 27.2 million5 (Fiscal year ended June 30, 2024)(Fiscal year ended February 1, 2025) (Fiscal year ended December 31, 2024) 42% 51% 7% 48%52% 49% 42% 9% 43% 57% General merchandise Consumables Seasonal Imported Domestic 47%53% 39% 48% 13% 1. Based on sales for respective latest full fiscal years; categories may differ slightly among Dollarama, Dollarcity and The Reject Shop. 2. Dollamara and Dollarcity sourcing mix based on annual procurement volume for respective latest full fiscal years. For Dollarama, domestic refers to merchandise purchased in North America For Dollarcity, domestic refers to merchandise purchased in countries of operation. The Reject Shop sourcing mix is based on sales for latest full fiscal year For The Reject Shop, domestic refers to merchandise purchased in Australia 3. Items with price points between A$0.45 and A$15.00 represents ~90% of sales for FY2024 across departments. Price point range excludes taxes and reusable shopping bags sold 4. As of latest available fiscal quarter-end for Dollarama and Dollarcity, as of June 30, 2025 for The Reject Shop 5. International Monetary Fund (IMF), annual estimates for 2025 as at April 2024
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1 Source: latest available store count; company websites 2 Source: Statistics Canada; Q2-FY25 store count40 - Dollarama Investor Presentation Q2-FY2026 DOL vs. Canadian dollar store landscape ~3.3x more Dollarama stores than 4 largest pure play competitors combined 1,525 242 111 117 43 1,583 248 107 115 32 1,665 256 102 115 26 0 200 400 600 800 1,000 1,200 1,400 1,600 1,800 Dollarama Dollar Tree Canada Dollar Store with More Great Canadian Buck or Two Q2-F24 Q2-F25 Q2-F26 Three-year store count Dollarama vs. next four pure play competitors1 ~6.5x larger than our next largest pure play competitor in Canada 32 26 22 22 Western Provinces Ontario Quebec Atlantic & Northwest Territories Thousands of people per Dollarama store2
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DOLLARAMA DOLLAR GENERAL DOLLAR TREE LTM revenues ($ millions) $6,663 US$41,134 US$24,587 LTM EBITDA ($ millions) $2,261 US$2,969 US$2,381 Number of stores 1,665 20,582 9,016 Average sales / store ($ millions) C$4.1 US$2 US$3 Average store size (sq. ft) 10,446 7,562 11,709 Average sales / sq. ft $393 US$264 US$233 Metropolitan areas, mid-sized cities and small towns 49% Consumables 83% Consumables 50% Consumables 10% Seasonal 10% Seasonal 50% Variety categories 41% General merchandise 5% Home products 3% Apparel Predominantly US$1.25 ($1.50 or less in Canada), US$7.00 or less SCALEMIX AND LOCATIONS Real estate locations Rural, suburban and urban communities Suburban locations, with focus on opening new stores in strip shopping centers anchored by large retailers Merchandise mix Price points $0.25 - $5.00 US$10.00 or less All figures are for Dollarama’s Canadian segment as at Q2-FY26, as at latest available quarter end for peers (Dollar General Q1-FY25 as at June 3, 2025; Dollar Tree Q1-FY25 as at May 3, 2025) 1. Refer to the section entitled “Non-GAAP and Other Financial Measures” of the FYQ2-26 MD&A for the definition of these items and, where applicable, their reconciliation with the most directly comparable GAAP measure 41 - Dollarama Investor Presentation Q2-FY2026 DOL vs. US pure play dollar stores 1
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Dollarcity governance framework 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% stockholder approval • Option entitling Dollarama to acquire an additional 9.89% equity interest in Dollarcity (and corresponding 4.945% stake in Mexico Partnership), at any time on or before December 31, 2027 Dollarcity founding group (39.9%) • Dollarcity founding group has a put right pursuant to which they can require, in certain circumstances, that Dollarama purchase shares of Dollarcity held by them, along with a pro rata portion of shares in the Mexico Partnership • This right may be exercised in the ordinary course during specific periods, subject to certain transaction size thresholds, required ownership thresholds for designated person and freeze periods, among other conditions and restrictions • Ability to postpone the exercise of Dollarcity founding group put right in certain situations • Ability to purchase all remaining shares if exercise of put right results in Dollarcity founding group holding less than a specified ownership threshold • Event-driven put rights in case of drag-along/sale transaction, Dollarama change of control or a designated person departure event • Exercise of any put right triggers fair market share price valuation Mexico Partnership • Dollarama holds an 80.05% economic interest in the parent company of the entity that will operate the Mexico portion of the business, with the Dollarcity founding group holding a 19.95% economic interest • Board of Directors and officers of the Mexico operating entity to be initially the same as Dollarcity Dollarama board of directors Dollarcity management team ▪ Chief Executive Officer ▪ Executive Vice-President of Operations ▪ Director of Finance and Treasury ▪ Director of Procurement/Sr. Buyer ▪ Director of Store Operations ▪ Director of Logistics ▪ Director of Legal ▪ Director of Projects ▪ Director of Human Resources ▪ 3 Dollarama representatives ▪ 2 Dollarcity representatives Dollarcity board of directors Central American Retail Sourcing, Inc. DOL 60.1% DC Stockholders 39.9% Inversiones Comerciales Mexicanas S.A. DOL 80.05% DC Stockholders 19.95% 42 - Dollarama Investor Presentation Q2-FY2026
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Thank you Dollarama Inc. 5805 Royalmount Ave. Montreal, QC H4P 0A1