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## CASH POSITION 

## OPERA TING ACTIVITIES 

Operating activities generated cash flows of $ 432.3 million over fiscal 2014 compared to $ 566.0 million in 2013 . The decrease is attributable to changes in non-cash working capital items and also to the higher amount of taxes paid in the first quarter of 2014 for current income taxes due as at September 28, 2013 that were higher due to the gain realized on the sale of part of our investment in Alimentation Couche-T ard. 

## INVESTING ACTIVITIES 

Investing activities required outflows of $299.8 million over fiscal 2014 versus $264.3 million of generated cash flows in 2013 . The variation is largely attributable to the proceeds from the disposal of part of our investment in Alimentation Couche-T ard for $472.6 million in the second quarter of 2013. 

During fiscal 2014 , we and our retailers opened six  new stores and carried out major expansions and renovations of 25  stores for a gross expansion of 570,300 square feet and a net increase of 133,900 square feet or 0.7% of our retail network. 

## FINANCING ACTIVITIES 

Over the fiscalyear ended September 27, 2014, we utilized funds of $177.3 million versus $822.8 million for fiscal 2013. This change is attributable to the greater redemption of shares in fiscal 2014 , in the amount of $ 459.7 million versus $ 409.4 million in fiscal2013, as well as to a $396.3 million increase in our debt in 2014 versus $6.2 million in 2013 and a $11.4 million repayment of the debt in 2014 versus $337.3 million in 2013 mainly from the proceeds of the disposal of part of our investment in Alimentation Couche-T ard. 

$^{(1)}$ See table on "Operating income before depreciation and amortization and associate's earnings adjustments" 

$^{(2)}$ See table on "Net earnings from continuing operations adjustments" 

$^{(3)}$ See section on "Forward-looking information" 

$^{(4)}$ See section on "IFRS and non-IFRS measurements" 

$^{(5)}$ See table on "Net earnings adjustments" 

