We have deep respect for Seven & i and the business it has built in Japan. We admire 7-Eleven Japan’s products, distribution system, operating model, franchisee network, and brand. As a result, we have no intention to change 7-Eleven Japan’s operations. By coming together, we firmly believe a global champion will be created, not only in the convenience store industry, but across the wider retail industry.

We appreciate and admire Seven & i and 7-Eleven Japan’s importance to the rural population in Japan. We do not plan on closing rural stores given their significant positive impact on the livelihoods of many communities.

Yes, we plan to continue the important role that 7-Eleven Japan stores play in the national disaster preparedness and relief plans. This is something we understand and hugely value. At Couche-Tard, we actively contribute to the communities we operate in, making everyone’s lives easier every day and supporting our customers through in times of need, like through the global pandemic and recent LA wildfires.

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We will work with local teams to determine the best operating hours of 7-Eleven Japan stores.

The retail gasoline industry in the United States is highly fragmented, and, together, our combined market share is only around 12%, which does not raise antitrust concerns. However, we understand that in specific areas we will need to divest stores, and both companies’ U.S. counsel are cooperating to develop a plan for such divestitures.

Our company has a long, successful history of M&A. Corporate acquisitions are at the heart of our strategy and approximately 70% of our growth has come from M&A. Over time, we have built very close relationships with financial institutions and with our strong desire to complete the deal, we are confident that we can secure financing.

No, a hostile takeover is not under consideration. We remain confident that our proposal is the most attractive for Seven & i, its customers, franchisees, and the shareholders of both companies, and so we will continue our friendly approach with Seven & i.

We have a robust track record of successfully executing transactions, and we have built deep expertise and a disciplined approach to capital markets. Backed by substantial financial strength, we are well positioned to deliver outstanding results for this transaction.

We firmly believe that a combination with Seven & i has clear strategic and financial benefits for both companies' customers, employees, franchisees and shareholders and that together, we will unlock new opportunities through shared best practices, innovation and a stronger supply network, creating a global retail champion.