Mr. Mathieu Brunet reports

ALIMENTATION COUCHE-TARD RENEWS ITS SHARE REPURCHASE PROGRAM

The Toronto Stock Exchange has approved the renewal of Alimentation Couche-Tard Inc.'s repurchase program, authorizing it to repurchase up to 74,194,410 common shares, representing 10 per cent of the 741,944,105 shares comprising Couche-Tard's public float (as such term is defined in the TSX company manual) as of July 9, 2026. As of July 9, 2026, Couche-Tard had 917,962,609 shares issued and outstanding.

The average daily trading volume for the six-month period preceding June 30, 2026, represents 1,470,463 shares. In accordance with TSX requirements, Couche-Tard is entitled to purchase, on any trading day, up to a total of 367,615 shares, representing 25 per cent of this average daily trading volume.

Couche-Tard believes that the purchase of up to 74,194,410 shares under the program is an appropriate use of its funds under its disciplined capital allocation strategy and may constitute a desirable investment in the best interests of Couche-Tard. When such repurchases occur, the number of shares in circulation is reduced, and the proportionate interest of all remaining shareholders in Couche-Tard is proportionally increased.

"As we continue to advance our Core + More strategy and generate strong cash flows, we remain focused on disciplined capital allocation and creating long-term shareholder value. We believe this share repurchase program is an attractive way to return capital to shareholders while maintaining the flexibility to invest in future growth," said Filipe Da Silva, chief financial officer.

Under the terms of the program, Couche-Tard may repurchase up to 74,194,410 shares on the open market through the facilities of the TSX and through alternative trading systems in Canada, as well as outside of the facilities of the TSX pursuant to exemption orders issued by securities regulators, over the course of 12 months commencing July 23, 2026, and ending at the latest on July 22, 2027. All shares will be purchased at their market price at the time of acquisition, except for purchases effected outside of the facilities of the TSX pursuant to exemption orders issued by securities regulators, which will be at a discount to the market price as provided in such exemption orders.

The actual number of shares purchased under the program, the timing of purchases and the price at which the shares are bought will depend upon management discretion based on factors such as market conditions. All shares repurchased under the program will be cancelled upon their repurchase. Although share repurchases are a key part of Couche-Tard's capital allocation strategy, there can be no assurances that any such purchases will be completed.

Under Couche-Tard's previous program, which commenced on July 23, 2025, and expires on July 22, 2026, Couche-Tard obtained approval from the TSX to repurchase for cancellation up to 77,115,921 shares. Between July 23, 2026, and July 9, 2026, Couche-Tard repurchased for cancellation a total of 30,342,275 shares under the program, through the facilities of the TSX and alternative Canadian trading systems for an approximate total cost of $1.59-billion (U.S.) and a weighted-average price per share of approximately $52.31 (U.S.) or $72.60 (Canadian).

In connection with the program, Couche-Tard has established an automatic share purchase plan with a designated broker whereby shares may be repurchased at times when such purchases would otherwise be prohibited pursuant to regulatory restrictions or self-imposed blackout periods. Under the ASPP, before entering a self-imposed blackout period, Couche-Tard may, but is not required to, ask the designated broker to make purchases under the program. Such purchases will be made at the discretion of the designated broker, within limits established by Couche-Tard prior to the blackout periods. Outside of the blackout periods, purchases will be made at the discretion of Couche-Tard's management. The ASPP will constitute an automatic plan for purposes of applicable Canadian securities legislation and has been precleared by the TSX.

About Alimentation Couche-Tard Inc.

Couche-Tard is a global leader in convenience and mobility, operating in 27 countries and territories, with close to 17,300 stores, of which approximately 13,200 offer road transportation fuel. With its Couche-Tard and Circle K banners, it is one of the largest independent convenience store operators in the United States, and it is a leader in the convenience store industry and road transportation fuel retail in Canada, Scandinavia, the Baltics and Belgium, as well as in Ireland. It also has an important presence in Luxembourg, Germany, the Netherlands and Poland, as well as in Hong Kong Special Administrative Region of the People's Republic of China. Approximately 145,000 people are employed throughout its network.

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