Marc Caira, President & CEO, Tim Hortons Inc.

Tim Hortons today

99 100

are aware of our brand

out

of

42%

of QSR traffic

All figures apply to Canadian operations only

1M visit Tim Hortons every day

>

8 10

QSR coffees purchased from Tim Hortons

out

of ~

3

Well positioned… The undisputed Canadian beverage leader

TOTAL CAFFEINATED BEVERAGES

% SHARE OF QSR SERVINGS

Source: NPD Crest, 12 months ended Feb 2014. All trademarks, copyrights and other forms of intellectual property belong to their respective owners.

74.8

4.5

9.9

All Other QSR

10.8 76.5% Cold Specialty Coffee

76.9% Hot Tea

76.0% Brewed Coffee

65.8% Hot Specialty Coffee

Tim Hortons today

#1 traffic share at breakfast traffic share at morning and afternoon snacking traffic share in coffee and caffeinated beverages tied for #1 traffic share at lunch

All figures apply to Canadian operations only 5

What is your biggest fear ?

COMPLACENCY !

6

STRATEGIC ROADMAP

• Anxious Consumers

• Value Conscious

• Low Growth

• Competitive Intensity

• Margin Pressure

Pivotal time for the restaurant industry

Changing Tastes Generation Changes Connected Consumers

8

Menu evolution

Quality of Ingredients Nutrition, Health & Wellness

Bold New Flavours & Customization Green & Sustainable

9

Bold

Different

Daring

Key pillars of our strategy

Lead,

Defend

& Grow

A

Must-Win

Battle

Grow,

Learn,

Expand

U.S. CANADA INTERNATIONAL

11

Canada: Lead, Defend & Grow

• Ultimate Guest Experience–flawless execution

• Defend the core: coffee, baked goods

• Capture new consumer demand spaces

• Alternative Channels

• Embracing Technology

Differentiated Innovation

Owner Presence and Engagement

Restaurant Appeal and Experience

Quality, Value Speed, Friendliness

Delivering the

Ultimate

Guest Experience

Defending our core starts with coffee

Order accuracy

Coffee consistency

Speed of service

Roast profiles and blends

Milk-based beverages

Coffee of origins

Brewing and roasting systems

Operational Excellence Coffee Innovation

Technology

Bolder more intense flavors Healthier Options / Choices Leverage freshness & convenience More “ In and Outs” offers

Hot breakfast sandwich

Lunch “ Plus”

Ownable lunch proposition: Fresh, bolder flavours and significant moves in Health, Nutrition & Wellness Proprietary food platforms that transcend dayparts Attract growing number of people ( women ) bringing their lunch from home

Traffic

Mix

Premium

Snacking & baked goods

Health, nutrition and wellness

Becoming a food destination is a key growth driver

‘Demand spaces’ offer growth and opportunity

Charge

Caffeine fix

$1.3B

Breakfast on the run

$1.6B

Just feed me

$2.6B

Connect

Morning leisure

$1.5B

Modest comfort

$2.2B

Health aware

$2.9B

Family time

$2.4B

Crave

Treat break

$4.0B

Satisfy craving

$3.7B

Source: Consumer Survey (August - September 2013)

$22.2B Total Market:

16

Brand leverage and channel extension provide

incremental opportunity

Retail channels

Commercial channels

Office

Roast & ground coffee

Single-serve coffee

Vending

Embracing Technology

• Enhance Consumer

Experience

• Drive Consumer

Behaviour

• WiFi, Mobile Payments,

Digital Menuboards,

Tims TV, DD Loyalty

Cards

Picture should be

inserted and cropped

to fill entire red area

U.S.A : Must-Win Battle

95% of population* is aware of Tim Hortons

79% of population* finds Tim Hortons convenient

*in core and priority markets

Drive AUV improvement across all dayparts

Focus on core to increase average unit volumes

Work with well-capitalized partners to complement our efforts

We have repositioned our

image as a Cafe & Bake Shop

>50% of units

Picture should fill

entire page

U.S. becoming

a meaningful

contributor to

our financial

performance

Famous for

Cafe & Bake Shop

AUV growth in

current footprint

Drive increased

trial & loyalty

Enhance returns by

reducing capital

deployment

Saudi Arabia

Oman

UAE

Qatar

Kuwait

Bahrain

100 120 restaurants targeted to open in the UAE, Qatar, Bahrain, Kuwait & Oman

restaurants targeted to open in Saudi Arabia

International: Grow – Learn – Expand

Saudi Arabia

TOTAL NUMBER OF RESTAURANTS

5

24

38

63

10

2011 2012 2013 2014 (estimated)

At year-end

Picture should be

inserted and cropped

to fill entire red area

International: Grow - Learn - Expand

Our international path forward

Continue to learn and grow in the GCC

Validate strategy in 2014 beyond the GCC

Opportunities in various global markets

Positioned to enter new markets in 2015

24

1. Empower with clear accountability. 2. Commitments are promises - On time, On budget, Error free. 3. Make disciplined choices. 4. Be fast and nimble focused on flawless execution. 5. Embrace Innovation and have the courage to fail.

6. Foster cross-functional cooperation and ownership.

“ We Are Here To Help Our Franchisees Win ! “

OUR SUPPLIERS

• We need you to help us grow.

• We need you to bring your Innovations to us first.

• We need to be better at bringing your ideas to market faster.

• We need to be better at communicating our requirement plans and decisions with you.

• We need to find ways to better “REWARD” our suppliers that help us grow.

• More at our July Convention in Toronto.

26

Rejuvenated Canadian growth engine

Scalable, profitable U.S. business

Established, growing international presence

Enhanced capabilities and talent

Above market-average total shareholder return (TSR)

2014-2018

Questions?