This presentation is for informational purposes only, and is not an offer to buy or sell or a solicitation to buy or sell any securities, investment products or other financial product or service, an official confirmation of any transaction, or an official statement of Limestone Capital Investment Club. Any views or opinions presented are solely those of the author and do not necessarily represent those of Limestone Capital. Jeff McFarland| Consumers Portfolio Manager Ian Keiper| Consumers Analyst Graeme Moore| Consumers Analyst Osman Aziz| Consumers Analyst Chris Bulla| Frosh Representative Consumer Products

1 Group Mandate OverviewThesisMacro/MicroCatalysts/Risk s Valuation Introduction to Consumer Products Following our stock pitch on Ford a few weeks ago, this group has initiated its coverage on the North American consumer products sector, with a specific focus on Canadian companies. Within the consumer staples segment, we are following retail and food processing firms. Our coverage of consumer discretionary products will span across the retail, automotive, and manufacturing segments. Additionally, each update will feature a profile of one consumer staples company and one consumer discretionary company.

Coverage Universe 2 Consumer Staples Consumer Discretionary OverviewThesisMacro/MicroCatalysts/Risk s Valuation Saputo Maple Leaf Foods Cott Metro Loblaws George Weston Shopper’s Drug Mart Wal-Mart Whole Foods Costco Lululemon Tim Hortons Canadian Tire Shaw Rogers Magna Toyota Ford Chrysler Honda GM Volkswagen

Costco Profile 3 OverviewThesisMacro/MicroCatalysts/Risk s Valuation Company DescriptionShare Price Information ValuationFinancial Highlights (5 years)

Lululemon Profile 4 OverviewThesisMacro/MicroCatalysts/Risk s Valuation Company DescriptionShare Price Information ValuationFinancial Highlights (5 years) Lululemon Athletica inc., is a designer and retailer of technical athletic apparel operating primarily in North America and Australia. The Company offers apparel and accessories for women, men and female youth. Apparel and accessories are designed for yoga, running and general fitness. Branded apparel is principally sold through 174 stores, and distributed through thousands of health clubs, located in North America and Australia. Share Price:$ Day Avg. Daily Volume:2,361, Week High/Low:$81.09/41.70 Market Cap:$10,300,000,000 EV:$9,590,000,000 EV/EBITDA:27.00 Forward P/E (1 yr.):31.11 P/E (TTM): EPS:$1.49 Profit Margin:18.48% Dividend Yield: N/A Beta:1.63 Community Sentiment:Bullish

Food Processing Saputo Maple Leaf Foods Cott Comparables 5 Consumer Staples OverviewThesisMacro/MicroCatalysts/Risk s Valuation

Retail Metro Loblaws George Weston Shopper’s Drug Mart Wal-Mart Whole Foods Costco Comparables 6 Consumer Staples OverviewThesisMacro/MicroCatalysts/Risk s Valuation

Retail/ Manufacturing Lululemon Tim Hortons Canadian Tire Shaw Rogers Magna Comparables 7 Consumer Discretionary OverviewThesisMacro/MicroCatalysts/Risk s Valuation

Automotive Toyota Ford Chrysler Honda GM Volkswagen Comparables 8 Consumer Discretionary OverviewThesisMacro/MicroCatalysts/Risk s Valuation