Applegreen plc Transformational acquisition of Welcome Break Applegreen plc – Transformational Acquisition of a Majority Stake in Welcome Break September 2018 1 Applegreen plc Transformational acquisition of Welcome Break Disclaimer THIS PRESENTATION AND ITS CONTENTS ARE CONFIDENTIAL. NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY JURISDICTION WHERE SUCH DISTRIBUTION WOULD BE UNLAWFUL. The information contained in this presentation has been prepared and issued by and is the sole responsibility of Applegreen plc and is being furnished to each recipient solely for informational purposes. The information contained in this presentation is confidential and should not be reproduced, published, transmitted or otherwise disclosed, in whole or in part, to any third party without the prior written consent of Applegreen plc. By accessing this presentation, you will be deemed to have represented, warranted and undertaken that you have read, understood and will comply with the contents of this notice. For the purposes of this notice, "presentation" means this document, any oral presentation, any question and answer session and any written or oral material discussed or distributed during the meeting. This presentation should not be considered as a recommendation by any of Applegreen plc, its directors, employees or advisers, or any other person to acquire shares in Applegreen plc (“Ordinary Shares”). Any recipient of this presentation is recommended to seek its own professional advice in relation to any shares it might decide to acquire in Applegreen plc. This presentation refers to certain events which are to be the subject of an admission document to be published by Applegreen plc (the “Admission Document”). The information set out in the Admission Document may be different from the information contained in this presentation. No assurance is given by Applegreen plc that any Ordinary Shares will be issued or sold and no decision should be made by any person to subscribe for any Ordinary Shares without reading the Admission Document. The information in this presentation does not purport to be comprehensive and is strictly for information purposes only. While reasonable care has been taken in the preparation of this presentation, it has not been verified and no reliance should be placed by any person on the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation or otherwise made available nor as to the reasonableness of any information contained herein. To the extent available, the industry and market data contained in this presentation has come from official or third party sources. In addition, certain of the industry and market data contained in the presentation comes from Applegreen plc’s own internal research and estimates based on the knowledge and experience of management in the markets in which Applegreen plc operates. While Applegreen plc believes that such research and estimates are reasonable and reliable, they, and their underlying methodology and assumptions, have not been verified by any independent source for accuracy or completeness and are subject to change. Accordingly, no undue reliance should be placed on any of the industry or market data contained in this presentation. No representations or warranties, express or implied, are given by Applegreen plc, Shore Capital and Corporate Limited or its affiliates (“SCCL"), Shore Capital Stockbrokers Limited or its affiliates (“SCSL” and together with SCCL, “Shore”), Goodbody Stockbrokers or its affiliates (“Goodbody”) or any of their respective directors, employees or advisers as to the accuracy, reliability or completeness of this presentation or any other written or oral information which has been or may be made available. Accordingly, none of Applegreen plc, Shore or Goodbody or any of their respective directors, employees, advisers or affiliates take any responsibility for, or will accept any liability in respect of, the accuracy, reliability or completeness of the information in this presentation or any other written or oral information which has been or may be made available or for the opinions contained herein or for any errors, omissions or misstatements and none of them will be liable for any losses arising out of any person's reliance upon such information. The opinions in this presentation constitute the present judgement of Applegreen plc, which is subject to change without notice. No reliance therefore may be put on the reasonableness of any future projections, management estimates, budgets or prospects of returns contained in this presentation. Statements in this presentation with respect to each of Applegreen plc’s and Welcome Break's (“WB") business, strategies, projected financial figures, transaction synergies, earnings guidance, financial guidance, future dividends and beliefs and with respect to the proposed investment in WB by Applegreen plc (the “Transaction”), as well as other statements that are not historical facts are forward-looking statements involving risks and uncertainties which could cause the actual results to differ materially from such statements. Statements containing the words "expect", "anticipate", "intends", "plan", "estimate", "aim", "forecast", "project" and similar expressions (or their negative) identify certain of these forward-looking statements. The forward-looking statements in this presentation are based on numerous assumptions regarding the transaction and each of Applegreen plc and WB's present and future business strategies and the environment in which each of Applegreen plc and WB will operate in the future. Forward-looking statements involve inherent known and unknown risks, uncertainties and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond each of Applegreen plc and WB's ability to control or estimate precisely, such as future market conditions, currency fluctuations, the behaviour of other market participants, the actions of regulators and other factors such as each of Applegreen plc and WB's ability to obtain financing, changes in the political, social and regulatory framework in which each of Applegreen plc and WB operates or in economic, technological or consumer trends or conditions. Past performance should not be taken as an indication or guarantee of future results, and no representation or warranty, express or implied, is made regarding future performance. Applegreen plc is not under any obligation to update or keep current the information contained in this presentation or to provide the recipient of it with access to any additional information that may arise in connection with it. This presentation includes certain stand-alone financial and other information for WB. While such stand-alone financial and other information for WB has been sourced primarily from information that has made publicly available by WB. Such stand-alone financial and other information for WB as so adjusted has not been audited or reviewed by any accounting firm or other third party and has not been independently verified and no reliance should be placed thereon. This presentation includes certain combined or pro forma financial information for WB and Applegreen plc. Such combined or pro forma financial information is preliminary in nature, only represents current estimates of the potential impact of the Transaction on Applegreen plc, remains subject to change and is provided solely for illustrative purposes. The underlying figures for WB and Applegreen plc may not be prepared on a comparable GAAP basis or on the basis of the same (or similar) accounting policies. In particular, please note that WB's underlying historical financial information has been prepared in accordance with UK GAAP and is presented in GBP, whereas Applegreen plc's underlying historical financial information has been prepared in accordance with IFRS and is presented in Euro, and that the combined or pro forma financial information contained herein has not been audited or reviewed by any accounting firm or other third party and has not been independently verified. No reliance should be placed on the combined or pro forma financial information contained in this presentation. This presentation is neither an offer to sell, purchase or subscribe for any investment in Applegreen plc nor a solicitation of such an offer. Nor is this presentation intended to grant any form of exclusivity or form the basis of any contract. This presentation is not and does not constitute or form a part of any offer of, or solicitation to purchase or subscribe for, any securities in the United States, Canada, Australia, Japan, the Republic of South Africa or any other jurisdiction where such offer or solicitation would be unlawful. Any such securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “Securities Act”). No public offering of securities will be made in the United States of America. Subject to certain limited exceptions, neither this presentation nor any copy of it may be taken, transmitted or distributed, directly or indirectly, into the United States, its territories or