Monro : Fourth Quarter Fiscal 2021 Earnings Presentation

FOURTH QUARTER FISCAL 2021 EARNINGS CALL MAY 20, 2021

Safe Harbor Statement and Non-GAAP Measures

Certain statements in this presentation, other than statements of historical fact, including estimates, projections, statements related to our business plans and operating results are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Monro has identified some of these forward-looking statements with words such

as "anticipates," "believes," "expects," "estimates," "is likely," "predicts," "projects," "forecasts," "may," "will," "should," and

"intends" and the negative of these words or other comparable terminology. These forward-looking statements are based on Monro's current expectations, estimates, projections and assumptions as of the date such statements are made, and are subject to risks and uncertainties that may cause results to differ materially from those expressed or implied in the forward- looking statements, to include the significant uncertainty relating to the duration and scope of the COVID-19 pandemic and its impact on our customers, executive officers and employees. Additional information regarding these risks and uncertainties are described in the Company's filings with the Securities and Exchange Commission, including in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of our most recently filed periodic reports on Forms 10-K and Form 10-Q, which are available on Monro's website at https://corporate.monro.com/investors/financial-information/. Monro assumes no obligation to update or revise these forward-looking statements for any reason, even if new information becomes available in the future.

In addition to including references to diluted earnings per share ("EPS"), which is a generally accepted accounting principles ("GAAP") measure, this presentation includes references to adjusted diluted earnings per share, which is a non- GAAP financial measure. Monro has included a reconciliation from adjusted diluted EPS to its most directly comparable GAAP measure, diluted EPS in Slide 6. Management views this non-GAAP financial measure as a way to better assess comparability between periods because management believes the non-GAAP financial measure shows the Company's core business operations while excluding certain non-recurring items and items related to our Monro.Forward or acquisition initiatives.

This non-GAAP financial measure is not intended to represent, and should not be considered more meaningful than, or as an alternative to, its most directly comparable GAAP measure. This non-GAAP financial measure may be different from similarly titled non-GAAP financial measures used by other companies.

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Fiscal 2021 Takeaways

Well-Positioned to Capitalize on Strengthening Demand and Drive Long-Term, Sustainable Growth

1	Operational Excellence: Focus on in-store execution complemented by the transformation of approximately 360
stores to date, migrating approximately 115 stores to a tire-oriented brand, with rebranded stores in key markets
	outperforming store base
2	Strategic Acquisitions: Recently completed acquisitions of 30 stores, expanding presence in Western Region
	and bringing annualized sales from acquisitions completed and announced in fiscal 2021 to $65 million

3	Significant Cash Flow: Generated record cash flow in fiscal 2021, positioning us well to implement our strategic
initiatives, execute attractive acquisition opportunities, pay down debt and return cash to shareholders

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Go-Forward Priorities

A Renewed Focus on Operational Execution To Realize the Full Potential of Our Business

Enhance the customer experience and improve in-store execution to drive long-term organic growth Capitalize on strategic acquisition opportunities in our highly fragmented industry

Generate strong cash flow through operational improvements and working capital optimization

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Fourth Quarter Fiscal 2021 Sales Highlights

Well Positioned to Drive Higher Sales and Generate Strong Cash Flow

Quarterly Comps Trends

10%
5%
0%
	Q4FY20		Q1FY21		Q2FY21		Q3FY21		Q4FY21
-5%
-10%
-15%
-20%
-25%
-30%

Q4FY21

Key Highlights

• Comparable store sales of 9.4% driven by strong demand recovery
• Sales from new stores added $5.1M, including sales from recent acquisitions of $4.6M
• Generated record operating cash flow of ~$185M in fiscal 2021 driven by profitability and strong working capital management

1Preliminary results through May 15, 2021 and May 16, 2020

Monthly Comparable Store Sales

100%
80%
60%
40%
20%
0%
-20%
-40%	January	February	March	April	May MTD1
-60%
		CY20	CY21

Q4FY21

Key Highlights

• Sequential comp improvement in all product and service categories, with tires outperforming all other categories
• • Tires: 17%
  • Alignments: 15%
  • Front End/Shocks: 1%
  • Maintenance: 0%
  • Brakes: -1%

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