Alimentation Couche Tard : 2022 Management Proxy Circular

Dear shareholders

On behalf of the Board of Directors and management of the Corporation, we are pleased to invite you to Alimentation Couche-Tard Inc.'s annual general and special meeting of shareholders which will be held on Wednesday, August 31, 2022, at 10:30 a.m. (Eastern time). This year again, the Corporation is holding the Meeting as a virtual-only meeting, which will be conducted via live webcast, where all shareholders regardless of geographic location will have an equal opportunity to participate. The Corporation views the use of technology-enhanced shareholder communications as a method to facilitate individual investor participation, making the Meeting more accessible and engaging for all involved, permitting a broader base of shareholders to participate in the Meeting, which is consistent with the goals of the regulators, stakeholders, and other invested in the corporate governance process. The virtual-only formal for the Meeting will also help mitigate the ongoing health and safety concerns to the community, shareholders, employees and other stakeholders in light of the continuing COVID-19 environment. Based on past practice, most of our shareholders vote in advance of the Meeting by proxy using the various available voting channels and these voting channels will continue to be available. We encourage shareholders to continue to vote in advance by proxy.

Fiscal 2022 performance

Once again, continued global challenges and turmoil have brought out the best in our company and our people as we managed the business carefully and delivered a strong financial year while showing outstanding care and commitment to each other, our customers and our communities. Our size, our winning culture and strategy, and the structures that we have put in place, both at the executive management level and from a governance standpoint, served the business well, both in its operational and financial performance. Additionally, a smooth transition to a single class of shares triggered by the sunset clause highlighted our stable financial structures and the ongoing support from our shareholders. With a strong, diversified, and responsible capital structure as well as our healthy balance sheet and solid financial position, we are well-positioned for the future of convenience and mobility. We remain focused on our core strategic initiatives, ready to expand and solidify our global network through organic growth and acquisitions and to drive value for our shareholders. In the year ahead, our award-winning, engaged culture will continue to be guided by the values we live by: One Team, doing the right thing, taking ownership and playing to win.

Global company

We are immensely proud of the 122,000 people working in our global network comprised of more than 14,000 stores around the world. Their dedication, hard work and entrepreneurial spirit contributed to the Corporation's strong financial performance and set the stage for further success. We also wish to express our gratitude to our shareholders for their unwavering support and continued interest.

Your vote is important

Detailed instructions about how to participate at our Meeting and a description of the items of business to be considered at the Meeting can be found in the notice of annual general and special meeting of shareholders and the accompanying management information circular. We invite you please to take some time to read these documents before you vote your shares as they discuss many important topics.

We look forward to engaging with you at our Meeting. Sincerely,

(s) Alain Bouchard	(s) Brian Hannasch
Alain Bouchard	Brian Hannasch
Founder and Executive Chairman	President and Chief Executive Officer

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Alimentation Couche-Tard Inc. • 2022 Management Information Circular

Notice of our 2022 annual general and special meeting of

shareholders and availability of materials

NOTICE IS HEREBY GIVEN THAT Alimentation Couche-Tard Inc. (the "Corporation") will hold its annual general and special meeting of shareholders (the "Meeting").

Date, time and place
When	Where
Wednesday, August 31, 2022, at 10:30 a.m. (EDT)	Virtual meeting via live webcast at
	https://web.lumiagm.com/475468046

Due to the ongoing impacts of the COVID-19 pandemic, this year we will once again hold the Meeting in a virtual-only format, which will be conducted via live webcast. We are confident that hosting a virtual meeting will enable greater participation by our shareholders, by allowing those who might not have otherwise been able to travel to a physical meeting to attend online. All shareholders, regardless of their geographic location, will have an equal opportunity to participate in the Meeting and engage with directors and management of the Corporation as well as with other shareholders.

You can find out more about our policies and practices relating to virtual meetings, as well as detailed instructions on how to cast your vote in the enclosed management information circular (the "Circular").

Business to be transacted at the Meeting

1. To receive our audited consolidated financial statements for the fiscal year ended April 24, 2022, together with the auditor's report.
2. To appoint our independent auditor until the next annual meeting of shareholders and authorize the board to set its remuneration.
3. To elect each of the directors nominated to serve on our board until the next annual general meeting.
4. To approve in a non-binding advisory capacity our approach to executive compensation policies.
5. To consider and, if deemed advisable, adopt a special resolution authorizing the Corporation to amend its articles of incorporation in order to (i) create a new class of shares, namely an unlimited number of common shares; (ii) convert each of the issued and outstanding Class A Multiple Voting Shares of the Corporation into one common share of the Corporation; (iii) after giving effect to the aforesaid conversion, repeal the Class A Multiple Voting Shares of the Corporation and the Class B Subordinate Voting Shares of the Corporation as well as the rights, privileges, restrictions and conditions attaching thereto; and, (iv) add an English version of Annex II attached to the articles of incorporation of the Corporation.
6. To vote on the four shareholder proposals we received from a shareholder this year, as set out in Appendix "D"of the Circular.

Notice and Access

As permitted under Canadian securities regulators, you are receiving this notification as the Corporation has decided to use the "notice-and-access" mechanism for delivery to both registered and non-registered shareholder of this notice of annual general and special meeting of shareholders, the Circular prepared in connection with the Meeting, and other proxy-related materials (the "Meeting Materials"). You can download the Meeting Materials at https://corpo.couche-tard.com/en/investors/shareholders- ressources/annual-general-meeting-documents/.

How to request a paper copy of the Meeting Materials

If you would prefer to receive a paper copy of the Circular, please call us at the number in the box to the left, or send us an email, and we will mail it to you at no cost. Note that we will not mail the proxy form or voting instruction form, so please keep the one you received with this notice.

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Alimentation Couche-Tard Inc. • 2022 Management Information Circular

Call		Send an email
1 [phone]	(toll-free in North America)	[e-mail]
1 [phone]	(outside North America)

We need to receive your request by August 19, 2022 if you want to receive the Circular before the Meeting. After the Meeting, please call 1 [phone] to ask for a printed copy.

Attendance and voting at the Meeting

The record date (the "Record Date") for determination of shareholders entitled to receive notice of and to vote at the Meeting was July 5, 2022. Only shareholders whose names have been entered in the register of our shares on the close of business on the Record Date will be entitled to receive notice of and to vote at the Meeting. Shareholders who acquire shares after the Record Date will not be entitled to vote such shares at the Meeting.

Registered shareholders and duly appointed proxyholders will be able to attend, participate, vote and ask questions in writing or by telephone live at the Meeting.

Non-registered shareholders who have not duly appointed themselves as their proxy will be able to attend the Meeting only as guests. Guests will be able to listen to the Meeting but will not be able to vote or ask questions.

Registered shareholders	Non-registered shareholders
You are a registered shareholder if your shares are held in your	You are a non-registered shareholder if your shares are listed in
name.	an account statement provided to you by an intermediary.

Shareholders who wish to appoint a proxyholder other than the persons designated by the Corporation on the form of proxy or voting instruction form (including a non-registered shareholder who wishes to appoint themselves as proxyholder) must carefully follow the instructions in the Circular and on their form of proxy or voting instruction form. These instructions include the additional step of registering such proxyholder with our transfer agent, TSX Trust Company, after submitting their form of proxy or voting instruction form. Failure to register the proxyholder will result in the proxyholder not receiving a control number that will act as their online sign-in credentials and is required for them to vote at the Meeting and, consequently, will only be able to attend the Meeting online as a guest.

We have enclosed a proxy form or voting information form with this notice. If you cannot attend the Meeting, please sign and return the form following the instructions on page 7 of the Circular.

Questions

If you have any questions regarding this notice, the notice-and-access mechanism or the Meeting please call TSX Trust Company at 1 [phone].

By order of the Board of Directors,

(s) Valéry Zamuner

Valéry Zamuner

Senior Vice-President, General Counsel and Corporate Secretary

Laval, Québec

July 5, 2022

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Alimentation Couche-Tard Inc. • 2022 Management Information Circular

Management Information Circular

Welcome to our 2022 Management Information Circular. We are sending you this document because you owned shares of Alimentation Couche-Tard Inc. on July 5, 2022 (the Record Date). Please read it carefully and exercise your right to vote.

Our Board of Directors has approved the content of this Management Information Circular and its distribution to shareholders.

(s) Valéry Zamuner

Valéry Zamuner

Senior Vice-President, General Counsel and Corporate Secretary

July 5, 2022