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Acquisition of Speedway by 7-Eleven, Inc. August 3, 2020 Seven & I Holdings Co., Ltd

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Acquisition of Speedway by 7-Eleven, Inc. August 3, 2020 Seven & I Holdings Co., Ltd Acquisition of Speedway by 7-Eleven, Inc. August 3, 2020 Seven & i Holdings Co., Ltd. Copyright (C) 2020 Seven & i Holdings Co., Ltd. All Rights Reserved. Growth Opportunity 1 of 7-Eleven, Inc. TODAY’S AGENDA 2 Speedway Acquisition 3 ESG Initiatives Copyright (C) 2020 Seven & i Holdings Co., Ltd. All Rights Reserved. 2 Growth Opportunity 1 of 7-Eleven, Inc. TODAY’S AGENDA 2 Speedway Acquisition 3 ESG Initiatives Copyright (C) 2020 Seven & i Holdings Co., Ltd. All Rights Reserved. 3 Group Strategy Overview (Reposting of FY2020 Financial Presentation) Open the next Challenge for “Food” that are now Creation of affluent “Convenience” door needed by customers “lifestyle hubs” CVS Business strategy Strengthening food / Tokyo Large-scale commercial as a core of growth metropolitan area food strategy base strategy ・Further enhance customer value by ・Further strengthen Seven Premium ・Operation of large-scale shopping centers domestic CVS Group-wide team merchandising method ・Respond to local needs and premium High quality + reasonable price + good ・Expand scale through M&As in the North health Respond to local needs and demand for American market premium products ・Tokyo metropolitan area food strategy ・Building facilities and communities from ・Providing value through 70,000 stores Reinforcement of food value chain an experience-based perspective worldwide toughness ・ (20,000 domestic and 50,000 overseas) (Manufacturing, Distribution, Sales) Monetization through product sales + tenants + services Expansion of "contact points" with our customers ・Enhancing credit cards business Digital and financial strategies ・Promote Group CRM based on 7iD ・Expansion of last mile functions ・Active utilization of AI and other technologies (productivity improvement) Contributing to improving QOL* with Aiming to become a corporate group that is four growth engines indispensable to people's daily lives *QOL：Quality of Life Copyright (C) 2020 Seven & i Holdings Co., Ltd. All Rights Reserved. 4 Group Strategy – Trends in Japan – Existing Store Sales YOY Change of Values due to COVID-19 Safety, Security, 120 Social Distancing and Health (％) At-home Takeout / Delivery Eating/Drinking trend Shrinking ESG・ Commercial Areas Sustainability 100 Approx. 60% of Sales in Japan come from Seven-Eleven Japan “Foods” Ito-Yokado(Food only) significance of existence as York-Benimaru York Mart/York “Essential Business“ 7-Eleven, Inc. (for reference) 80 York Co., Ltd. established in June 2020 Nov. Dec. Jan. Feb. Mar. Apr. May June Promote Tokyo metropolitan area food strategy Copyright (C) 2020 Seven & i Holdings Co., Ltd. All Rights Reserved. 5 Group Strategy Overview(Reposting of FY2020 Financial Presentation) Open the next Challenge for “Food” that are now Creation of affluent “Convenience” door needed by customers “lifestyle hubs” CVS Business strategy Strengthening food / Tokyo Large-scale commercial as a core of growth metropolitan area food strategy base strategy ・Further enhance customer value by ・Further strengthen Seven Premium ・Operation of large-scale shopping centers domestic CVS Group-wide team merchandising method ・Respond to local needs and premium High quality + reasonable price + good ・Expand scale through M&As in the health Respond to local needs and demand for North American market premium products ・Tokyo metropolitan area food strategy ・Building facilities and communities from ・Providing value through 70,000 stores Reinforcement of food value chain an experience-based perspective worldwide toughness ・ (20,000 domestic and 50,000 overseas) (Manufacturing, Distribution, Sales) Monetization through product sales + tenants + services Expansion of "contact points" with our customers ・Enhancing credit cards business Digital and financial strategies ・Promote Group CRM based on 7iD ・Expansion of last mile functions ・Active utilization of AI and other technologies (productivity improvement) Contributing to improving QOL* with Aiming to become a corporate group that is four growth engines indispensable to people's daily lives *QOL：Quality of Life Copyright (C) 2020 Seven & i Holdings Co., Ltd. All Rights Reserved. 6 7-Eleven, Inc.(SEI) Overview . North America’s largest convenience store chain operating and franchising over 9,800 stores in the U.S. and Canada 71,100+ 9,800+ Owns Global . Operating models: 7-Eleven Locations Locations in Trademark − Company operated :24% globally U.S. & Canada (ex. Japan) − Type C franchise: 70%: − Type A(BCP) franchise: 6% . Stores typically vary in size from 2,400 to 3,000 square feet and are 2019 2019 2019 most often located on corners for great visibility and easy access . Proprietary offerings (including high margin fresh foods, dispensed $36.1B $1.1B $1.8B beverages and private brands) represent 22%+ of all merchandise Total sales Op. income EBITDA sales . 7-Eleven, Inc. is privately held and became a wholly owned, indirect subsidiary of Seven & i Holdings in Tokyo, Japan, on Nov. 9, 2005 Sales MIX GP MIX Fuel 20.1％ Fuel Merch. 50.7％ 49.3％ Merch. 79.9％ Source: Company information. Copyright (C) 2020 Seven & i Holdings Co., Ltd. All Rights Reserved. 7 Growth of SEI MDSE Sales, Operating Income, Store Counts Contribution for Consolidated Figures (FY 2020) 9,682 25 MDSE Sales 10,000 MDSE Sales (in $ bn.) OP Income OP Income (stores) OP Income (in $ 100 mn.) 24.0 ％ 20 Store Counts as of Dec. 31(right) 8,000 17.8 Net Income 5,829 15 6,000 29.1 ％ 10 4,000 7.0 5 11.1 2,000 2.1 0 0 (FY) 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 Accounts for approx. 30% of Dec. 2005－ President DePinto consolidated net income *Composition ratio is calculated on a yen basis after amortization of goodwill Copyright (C) 2020 Seven & i Holdings Co., Ltd. All Rights Reserved. 8 U.S. Convenience Store Industry Total Store Counts: 152,720 (as of Dec. 31, 2019) No. of Shares Chain Name Stores (％) 1 7-Eleven, Inc. 9,046 5.9 No. of stores 2 Alimentation Couche-Tard Inc. 5,933 3.9 w/ Fuels operated 3 Speedway LLC 3,900 2.6 4 Casey’s General Stores Inc. 2,181 1.4 65.4 ％ 79.9 ％ 5 EG America LLC 1,679 1.1 6 Murphy USA Inc. 1,489 1.0 Small operators with motor fuels (10 or fewer stores) 7 GPM Investments LLC 1,272 0.8 over 65％ approx. 80％ 8 BP America Inc. 1,017 0.7 9 ExtraMile Convenience Stores LLC 942 0.6 10 Wawa Inc. 880 0.6 Top 10 chains’ shares Industry less than 20％ remains fragmented Top 10 chains 28,339 18.6 •Source: NACS State of the Industry Compensation Report, CSP’s TOP 202 Convenience Stores 2020, except for SEI, which is the U.S. store count as of December 2019. Copyright (C) 2020 Seven & i Holdings Co., Ltd. All Rights Reserved. 9 U.S. Macro Environment (Population, GDP) Estimated Population Estimated GDP (mn.) ($ bn.) 400 U.S. Japan 40,000 real GDP(U.S.) real consumption(U.S.) real GDP(Japan) 300 30,000 200 20,000 100 10,000 – 0 2010 2015 2020 2025 2030 2035 2040 2045 2050 2017 2022 2027 2032 2037 2042 2047 Source: OECD, National Institute of Population and Social Security Research Copyright (C) 2020 Seven & i Holdings Co., Ltd. All Rights Reserved. 10 Motor Fuels (1) SEI：CPG, Total Fuel Gross Profit SEI：CPG・Fuel Sales Volume (￠) (＄mn.) (￠) (％) YOY change in CPG(left) Total Fuel GP CPG 25 2,000 20.0 +40.0 Fuel sales volume growth per +16.9 store(right) 10.0 +20.0 +4.9 +3.5 +1.2 +1.1 (0.2) 20 1,000 ±0.0 ±0.0 (1.2) (1.3) (1.7) (2.8) (9.9) (10.0) (20.0) (31.7) (20.0) (40.0) 15 0 1Q 2Q 3Q 4Q 1Q 2Q (FY) 2010 2012 2014 2016 2018 2019 2020 Profitability of fuel business has grown continuously FY2020 Q2 (Apr. – June) Fuel GP：+30％ Copyright (C) 2020 Seven & i Holdings Co., Ltd. All Rights Reserved. 11 Motor Fuels (2) Estimated Fuel Consumption Gross Energy Trade (bn. of (Quadrillion British gallon) 2020-2030 2030-2050 thermal unit) 2019 40 Exports (1.6)％CAGR +0.3％CAGR History Projections 100 20 Imports 0 1990 2010 2030 2050 50 Fuel Prices per gallon by Country (＄) 10.00 8.71 Aligned with oil 6.29 producing nations 5.15 5.00 4.10 0 2.63 2020 2025 2030 2035 2040 2045 2050 2.07 0.00 2020-2050 Total: (0.4)％CAGR Saudi U.S. China Japan U.K. Hong-Kong Arabia Source: Energy Information Agency Annual Energy Outlook 2020., GlobalPetrolPrices.com Copyright (C) 2020 Seven & i Holdings Co., Ltd. All Rights Reserved. 12 Motor Fuels (3) Light–duty Fuel Economy Penetration of Electric Vehicles (Miles per gallon) 2019 New EV sales as a % of total 50 History Projections Car Combined 11.2% 25 Light Truck 7.2% 3.9% 5.0% 1.8% 2.3% 0 2010 2020 2030 2040 2050 2019 2020 2025 2030 2035 2050 ・Fuel retail price is low and stable Profitability of fuel business would be ・Fuel economy is continuously improving stable over the medium term ・Penetration of EV will be limited Source: Energy Information Agency Annual Energy Outlook 2020 Copyright (C) 2020 Seven & i Holdings Co., Ltd. All Rights Reserved. 13 Growth Strategy and Key Initiatives Fresh Food & Six Point Plan Product Offering: Private Brands Proprietary Beverages Deliver a Consistent 1 Customer Experience Modernize Food & Beverage 2 Experience . Fresh Foods is a $2B+ business . $1B / year business with +22% CAGR . Proprietary Beverages average 62% margin . High quality, lower price Optimize the Product Offering 3 . New Food & Beverage platform, accelerating . 55% average margin sales growth, in 1,500 stores by year-end Digitally Transform 4 Convenience Digitally Transform Loyalty / Innovation Delivery 5 Modernize the Store Base . 35M Registered Members .
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