1. Review of Q3 2006 Financial Results April 11, 2006

2. Forward-Looking Statement Disclaimer Certain statements in this presentation, including statements regarding future results and performance, are forward-looking statements (as such term is defined under the United States Private Securities Litigation Reform Act of 1995) based on current expectations. The accuracy of such statements is subject to a number of risks, uncertainties and assumptions that may cause actual results to differ materially from those projected, including, but not limited to, changes in foreign currency valuations, our ability to effectively compete and changes in competition or other trends in the industries in which we compete and other factors. For further information, readers are referred to the section on Risks and Uncertainties contained in the MD&A and other Company filings. The Company disclaims any intention or obligation to update or revise any forward- looking information contained in its communications, whether as a result of new information, future events or otherwise. This presentation also contains certain Non-GAAP financial measures. Such information is reconciled to the most directly comparable financial measures in the Company’s communications with shareholders.

3. Mr. Jean Coutu President and Chief Executive Officer The Jean Coutu Group (PJC) inc.

4. 3 RESULTS HIGHLIGHTS / Q3 2006  Both of the Company’s networks showed an increase in sales, despite a difficult comparison with last year’s strong flu season.  Our new Ontario distribution center is operational.  Same-store sales growth has improved in the US network due to improving pharmacy sales trends. Front- end sales would have shown positive growth without the decline in the photo category.  The Company amended its senior secured credit facility to provide more flexibility to execute its business plan over the next 18 months.

5. 4 RESULTS HIGHLIGHTS / Q3 2006

6. 5 RESULTS SEGMENTED OIBA

7. 6 RESULTS OIBA VARIANCE ANALYSIS M $US 125,3 137,2 + 8,6- 5,8 + 6,3 + 2,8

8. 7 RESULTS HIGHLIGHTS / MARCH SALES GROWTH

9. Mr. François J. Coutu President, Canadian Operations The Jean Coutu Group (PJC) inc.

10. 9 REVENUESOIBA M CAN$ OIBA margin CANADIAN OPERATIONS REVENUES AND OIBA 20052006 20052006

11. 10 Sales Gross Margin CANADIAN OPERATIONS SALES AND GROSS MARGIN 20062005 M CAN$ % 20062005

12. 11 2005 CANADIAN NETWORK RETAIL SALES GROWTH - COMPARABLE STORES % 2006

13. 12  Launch of the new Ontario distribution center:  Transfer of 2,600 SKU’s of beauty products.  All cosmetic products are now distributed from this facility.  The Jean Coutu Group was ranked first among Quebec’s most admired companies according to an exclusive survey carried out by Leger Marketing from December 2005 to January 2006.  Network pharmacy sales improved by 7.4%, consolidating our leading market position in Quebec. CANADIAN OPERATIONS HIGHLIGHTS / Q3 2006

14. 13  Network front-end sales were impacted by a weak cough and cold season:  Sales decreased by 1.6% during the third quarter.  Sales increased by 0.4% excluding the OTC category.  112,000 PJC/Air Miles gift cards have been issued since the introduction of instant in-store rewards redemptions on January 28, 2006:  This represents an increase of over 40,000 gift cards per month compared to previously.  $28.31 average basket per $20 gift card. CANADIAN OPERATIONS HIGHLIGHTS / Q3 2006

15. Mr. Pierre Legault Executive Vice-President The Jean Coutu Group (PJC) Inc.

16. 15 REVENUESOIBA M $US OIBA Margin US NETWORK REVENUES AND OIBA 20052006 2005 2006

17. 16 Sales Gross Margin US NETWORK SALES AND GROSS MARGIN 20062005 M US$ % 20062005

18. 17 2005 US NETWORK RETAIL SALES GROWTH - COMPARABLE STORES (1) % 2006 (1) Retail sales growth includes Eckerd drugstores as of August 1, 2005.

19. 18 US NETWORK SALES TRENDS  Pharmacy comparable store sales improved by 2.2% during the third quarter:  Pharmacy all store sales increased by 1.0% versus last year despite the effect of generic substitution (-2.1%), closed stores impact (-2.0%) and a weak cough & cold season (-1.1%).  Front-end comparable store sales at -0.1% showed a positive trend driven by categories such as Beauty and Consumables, but continued to be impacted by a declining Film & Photo category:  Front-end all store sales would have grown by 0.4% excluding the impact of the Film & Photo category (-2.0%), and 1.0% excluding also the OTC category (-0.6%) reflecting the weak flu season.

20. BEAUTY % Growth All Stores 19 US NETWORK FRONT-END SALES TRENDS 2005 2006

21. CONSUMABLES % Growth All Stores 20 US NETWORK FRONT-END SALES TRENDS 2005 2006

22. MEDICARE PART “D” UPDATE  Program began January 1, 2006  1.67 million scripts filled in 1 st two months = $105 million in sales  No meaningful “incremental” volume yet… just a shift from existing customers  Potential volume from new enrollees prior to May 15, 2006 deadline December FY 2006 February FY 2006 Brooks Eckerd % of Scripts 21 US NETWORK PHARMACY SALES TRENDS

23. 22 US NETWORK GROSS MARGIN  Gross margin was 25.3% during the third quarter, an improvement of 40bp compared to last year.  In pharmacy, gross margin improved versus last year due to continued success of generics substitution but declined compared to the previous quarter following Medicare Part D introduction and greater managed care pressure:  The initial impact of Medicare Part D on gross margin will decrease since the majority of « dual-eligibles » have switched from Medicaid to Medicare and as script volume increases.  In Front-end, gross profit decreased versus last year principally due to the declining Film & Photo category.

24. Generic Substitution Rate Generic substitution rate continues to climb in both Brooks and Eckerd stores. Opportunity to improve Eckerd as stores are converted to RX Care System 23 US NETWORK GROSS PROFIT

25.  General and operating expenses decreased to 21.5% of revenues in the last quarter compared to 22.3% in the previous quarter.  But these expenses increased by $18.1M during the quarter due to seasonal costs:  Holiday and Medicare Part D wages, Front store wages for Christmas and Utilities.  General and operating expenses performance will improve as we migrate toward one set of business processes.  Approximately 74% of these expenses are semi-fixed: salaries and premises costs. 24 US NETWORK SG&A

26. Wages & benefits and rent accounted for 74% of total SG&A in the third quarter. $525M $ 511M $ 529M 25 60 % 16 % 24 % 59 % 16 % 25 % 58 % 16 % 26 % US NETWORK SG&A

27. 26 US NETWORK SUPPLY CHAIN  Pharmacy service levels continued to improve as we optimize the supply chain and rationalize distribution centers.  Better pharmacy in-stock position reflected in reduction of partial fill scripts and higher service levels.  In Front-end, distribution center service levels have been more challenging following supply chain systems issues.

28. 27 US NETWORK REAL ESTATE AGE PROFILE OF 1,853 BROOKS ECKERD STORES 25 % 39 % 36 %

29. 28 US NETWORK REAL ESTATE TYPE PROFILE OF 1,853 BROOKS ECKERD STORES 53 % 39 % 8 %

30. 29 US NETWORK REAL ESTATE CAPITAL INVESTMENT INITIATIVES SINCE AUGUST 2004

31. 30 « Glow in the Dark » US NETWORK REAL ESTATE

32. TOWARD AN OPTIMAL US NETWORK CURRENT SITUATION  Even though the Eckerd purchase price was attractive, operations were deteriorating and turn- out to be weaker than expected at closing.  The “human challenges” of change management were underestimated.  There were IT integration and process issues.  During this period, sales growth has been slower than expected.  RESULT: Our progress is delayed by 12 months when compared to initial plan. 31

33. TOWARD AN OPTIMAL US NETWORK STRENGTHS & WEAKNESSES  We have a leading and profitable contiguous network located in eastern United States.  Our store base is modern and favorably located with many new and relocated stores and over half freestanding.  We have the scale and critical mass to operate efficiently.  IT integration issues have resulted in a continuation of dual processes and systems, increasing our operating costs and reduced efficiencies.  RESULT: Financial performance has not improved as anticipated and additional SG&A expenses are incurred. 32

34. TOWARD AN OPTIMAL US NETWORK OUR PRIORITIES  Improve financial performance by growing the top line with a focus on operational improvements and efficiency.  We are focused on building the customer base through service and improving execution, while completing best practice operational improvements and controlling expenses by continuously detailing and optimizing our operations.  The building blocks:  Implement sales growth initiatives in both the pharmacy and front-end.  Optimize the store base.  Focus on operating efficiency and synergies. 33

35. TOWARD AN OPTIMAL US NETWORK ACTION PLAN  Pharmacy sales growth initiatives.  Front-end sales growth initiatives.  Optimization of the store base.  Focus on operating efficiency and synergies:  People  IT initiatives / systems consolidation  Logistics  Store operations  Headquarters 34

36.  There is significant upside based on the improvement of our financial performance.  The effort will take more time than anticipated (12 months).  We know how to make it happen:  By leveraging our experience, focus, the network’s strengths while we address points of improvement.  With the goal of improving shareholder value. 35 TOWARD AN OPTIMAL US NETWORK CONCLUSION

37. Mr. André Belzile Senior Vice-President Finance and Corporate Affairs The Jean Coutu Group (PJC) inc.

38. 37 RESULTS ADDITIONAL INFORMATION ON NON-GAAP MEASURES

39. 38 RESULTS ADDITIONAL INFORMATION ON NON-GAAP MEASURES Non-GAAP MeasuresQ3 2006Q2 2006Q3 20059 months (millions $US) 20062005 Net earnings31.6 30.839.9 73.5 58.2 Unrealized loss (gain) on derivative financial instruments - --0.6 - - Unrealized foreign exchange loss (gain) on monetary items 0.3 -1.8-11.9 -0.3 8.2 Earnings before unrealized loss (gain) on on financing activities31.9 29.027.4 73.2 66.4 Net earnings per share$ 0.12 $ 0.15 $ 0.28 $ 0.23 Unrealized loss (gain) on financing activities - -0.01 -0.05 - 0.03 Earnings per share before unrealized loss (gain) on financing activities$ 0.12 $ 0.11$ 0.10 $ 0.28 $ 0.26

40. 39 FINANCIAL POSITION CONSOLIDATED HIGHLIGHTS (1) Market capitalization based on 261.7 million shares at the closing price of Marsh 29, 2006 of $CAN 11.68 per share and a currency exchange rate of $CAN/$US of 0.8523 (1)

41. 40 FINANCIAL POSITION CREDIT AGREEMENT AMENDMENT  Because our progress is delayed by 12 months when compared to initial plan, the Company acted proactively and negotiated an amendment to its Credit Agreement to delay the Leverage Ratio step-down by a year:  To provide more flexibility to execute its business plan.  Leverage Ratio in compliance with pre-amendment covenant at the end of Q3.  Annualized pre-tax financing expenses will increase by approximately $2.7 million.

42. Review of Q3 2006 Financial Results April 11, 2006