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Couche-Tard Announces Definitive Merger Agreement with CST Brands, Inc.

Laval, Québec, Canada, August 22, 2016 – Alimentation Couche-Tard Inc. (TSX: ATD.A ATD.B), (“Couche-Tard”), today announces a definitive merger agreement with CST Brands, Inc. (NYSE: CST) (“CST”) under which Couche-Tard would acquire CST in an all-cash transaction for US $48.53 per share, with a total enterprise value of approximately US $4.4 billion including net debt assumed. The terms and conditions of the agreement were unanimously approved by the Boards of Directors of both companies.

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