David Broadhurst Kevin Bolt Don Beaumont Frank Coleman R. J. - PowerPoint PPT Presentation

David Broadhurst

Kevin Bolt

Don Beaumont

Frank Coleman

R. J. (Bob) Kennedy

Gary Lukassen

Keith Martell

James Oborne

H. Sanford (Sandy) Riley

Don Beaumont

SALES GROWTH ($ in millions) 783 789 $800 750 704 659 $600 $400 $200 $0 2000 2001 2002 2003 2004

TRADING PROFIT GROWTH ($ in millions) 77 $80 73 72 70 64 $60 $40 $20 $0 2000 2001 2002 2003 2004

NET EARNINGS PER UNIT 2.32 $2.50 2.22 2.14 1.89 1.95 $2.00 $1.50 $1.00 $0.50 $0.00 2000 2001 2002 2003 2004

CASH FLOW FROM OPERATIONS ($ in millions) / RONA (%) % $70 21.0 63 59 59 56 % $60 18.0 48 14.8 13.9 % $50 15.0 Cash Flow 13.4 12.7 from Operations 11.5 % $40 12.0 RONA (%) % $30 9.0 % $20 6.0 $10 3.0 % % $0 0.0 2000 2001 2002 2003 2004

CAPITAL STRUCTURE Debt $250 1.00 0.92 Equity ($ in millions) 236 230 Debt : Equity 220 219 $200 0.80 0.69 191 0.62 176 0.56 $150 0.60 152 0.51 137 128 121 $100 0.40 $50 0.20 $0 0.00 2000 2001 2002 2003 2004

NWF CASH PAID OUT & REINVESTED Fiscal Year 2004 2003 2002 2001 2000 Cash flow from Operations/unit $ 3.89 3.65 3.67 3.74 3.21 Payout $ 1.80 1.90* 1.56 1.46 1.44 Payout % 46.3 52.1 42.5 39.0 44.9 Reinvested $ 2.09 1.75 2.11 2.28 1.77 *includes special distribution of $0.34

SALES GROWTH Consolidated +6.4% • Canada Food +4.5% • Canada General Merchandise +7.6% • Alaska +7.1%

TRADING PROFIT PERFORMANCE ($ in millions) $18 Total $16 14.6 Canada 14.3 13.6 13.2 $14 Alaska 1.4 $12 1.0 2.3 1.6 $10 $8 $6 $4 $2 12.6 12.9 11.6 12.3 $0 Q1 2001 Q1 2002 Q1 2003 Q1 2004 Q1 2005

TRADING PROFIT PERFORMANCE ($ in millions) $18 Total $16 14.6 Canada 14.3 13.6 13.2 $14 Alaska 1.4 $12 1.0 2.3 1.6 $10 $8 $6 $4 $2 12.6 12.9 11.6 12.3 14.1 $0 Q1 2001 Q1 2002 Q1 2003 Q1 2004 Q1 2005

TRADING PROFIT PERFORMANCE ($ in millions) $18 16.8 Total $16 14.6 Canada 14.3 13.6 13.2 $14 2.7 Alaska 1.4 $12 1.0 2.3 1.6 $10 $8 $6 $4 $2 12.6 12.9 11.6 12.3 14.1 $0 Q1 2001 Q1 2002 Q1 2003 Q1 2004 Q1 2005

NET EARNINGS ($ in millions) 7.7 $8 6.4 6.3 $6 5.5 4.9 $4 $2 $0 Q1 2001 Q1 2002 Q1 2003 Q1 2004 Q1 2005

RELATIVE UNIT PRICE PERFORMANCE (%) 450 NWF.UN 403 Retailing Group 375 TSX Composite 290 300 235 225 180 150 123 118 107 100 111 93 81 124 75 101 76 80 81 0 2000 2001 2002 2003 2004 2005

• Population growth

• Population growth • Pipeline construction

• Population growth • Pipeline construction • Government funding

• Population growth • Pipeline construction • Government funding • Alaska oil revenues

• Population growth • Pipeline construction • Government funding • Alaska oil revenues • Fuel-related cost pressures

• Operate each store as if it were the only store we have • Offer more exciting, new and exclusive merchandise • Achieve higher sales per capita • Lower our costs through better systems and more productive work

• 60 managers through Best Practice

• 60 managers through Best Practice • New manager talent pool development

• 60 managers through Best Practice • New manager talent pool development • Profit-sharing to reward store performance

• 60 managers through Best Practice • New manager talent pool development • Profit-sharing to reward store performance • Technology that builds a better store

• High same store sales growth

• High same store sales growth • Strong customer response to food

• High same store sales growth • Strong customer response to food • Fashion blend increasing as stores mature

• High same store sales growth • Strong customer response to food • Fashion blend increasing as stores mature • Finding locations and people are a priority

Northern Canada Retail Food Procurement & Wholesaling Alaska Commercial Company Giant Tiger West

Northern Canada Retail Food Procurement & Wholesaling Carl McKay Alaska Commercial Company Giant Tiger West

Northern Canada Retail Food Procurement & Wholesaling Carl McKay Scott Findlay Alaska Commercial Company Giant Tiger West

Northern Canada Retail Food Procurement & Wholesaling Carl McKay Scott Findlay Alaska Commercial Company Giant Tiger West Rex Wilhelm

Northern Canada Retail Food Procurement & Wholesaling Carl McKay Scott Findlay Alaska Commercial Company Giant Tiger West Scott McKay Rex Wilhelm

Ron Voldeng Jerry Bittner