Monro, Inc.Investor

Presentation

May 2019

Certain statements in this presentation, other than statements of historical fact, including estimates, projections, statementsrelated to our business plans and operating results are forward-looking statements within the meaning of the PrivateSecurities Litigation Reform Act of 1995. Monro has identified some of these forward-looking statements with words suchas “anticipates,” “believes,” “expects,” “estimates,” “is likely,” “predicts,” “projects,” “forecasts,” “may,” “will,” “should,” and“intends” and the negative of these words or other comparable terminology. These forward-looking statements are basedon Monro’s current expectations, estimates, projections and assumptions as of the date such statements are made, and aresubject to risks and uncertainties that may cause results to differ materially from those expressed or implied in the forward-looking statements. Additional information regarding these risks and uncertainties are described in the Company’s filingswith the Securities and Exchange Commission, including in the “Risk Factors” and “Management’s Discussion and Analysisof Financial Condition and Results of Operations” sections of our most recently filed periodic reports on Forms 10-K andForm 10-Q, which are available on Monro’s website at https://corporate.monro.com/investors/financial-information/. Monroassumes no obligation to update or revise these forward-looking statements for any reason, even if new informationbecomes available in the future.

This presentation contains references to Adjusted Earnings Per Share (EPS), which is a “non-GAAP financial measure” asthis term is defined in Item 10(e) of Regulation S-K under the Securities Act of 1933 and the Securities Exchange Act of1934 and Regulation G under the Securities Exchange Act of 1934. In accordance with these rules, Monro has reconciledthis non-GAAP financial measure to its most directly comparable U.S. GAAP measure. Management views this non-GAAPfinancial measure as a way to assess comparability between periods.

This non-GAAP financial measure is not intended to represent, and should not be considered more meaningful than, or asan alternative to, its most directly comparable GAAP measure. This non-GAAP financial measure may be different fromsimilarly titled non-GAAP financial measures used by other companies.

Safe Harbor Statement and Non-GAAP Measures

2

Company Overview

▪ Dominant in the Northeastern U.S. and expanding in Southern and

Western markets

▪ Fiscal 2019 sales of $1,200.2 million

▪ 1,249 company operated stores in 30 states and 98 franchised

locations as of May 21, 2019

▪ 33 acquisitions in the past 7 fiscal years, adding 429 locations, $630

million in revenue and entry into 9 new states

▪ Operating two store formats in key markets

−Service stores – 559 stores

• 80% maintenance services, 20% tires

• $600,000 a year in sales per store

−Tire stores - 690 stores (excluding wholesale)

• 55% tires, 45% service

• $1.2 million a year in sales per store

▪ 8 wholesale locations and 3 retread facilities

A Leading Chain of Independently Owned and Operated Tire and Auto Service Locations

3

Store locations as of 5/21/19

A Unique Operating Model

Monro Has a Diversified Supply Chain, Sourcing High Quality, Low Cost Parts Direct and a Strong Portfolio of Tire Brands

PARTS

Secondary parts distribution:

The following types of parts are sourced

from various cities in China:

▪ Brake Rotors and Pads

▪ Filters

▪ Steering and Suspension

▪ Wipers

▪ Belts

Store locations as of 5/21/194

TIRES

A Favorable Industry Backdrop

Favorable Industry Backdrop for Automotive Services with the

Vehicles in Operation Expected to Grow Significantly Over the Next Few Years

U.S. Annual Light Vehicle Sales

Total Miles Traveled in U.S.

Source: FRED Economic data, Light weight Vehicle Sales: Autos and Light Trucks Source: Lang, IHS Markit, 2018. 2018 – 2022 are estimated figures

U.S. Light Vehicles in Operation (VIO)

200

210

220

230

240

250

260

270

280

290

300

2012 2013 2014 2015 2016 2017 2018* 2019* 2020* 2021* 2022*

▪ Growing total vehicle population from U.S. auto sales

▪ 270+ million vehicles on the road

▪ Increasing age of vehicles (average of ~12 years)

▪ 2018 total annual miles driven up ~0.4% y/y

▪ Decreasing number of service outlets and bays

▪ Increasing complexity of vehicles

▪ Favorable demographics

Key Highlights

5Source: FRED Economic data, Moving 12-Month Total Vehicle Miles Traveled

2,600,000

2,700,000

2,800,000

2,900,000

3,000,000

3,100,000

3,200,000

3,300,000

03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18

0

2

4

6

8

10

12

14

16

18

20

03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18

A Favorable Industry Backdrop

Vehicles in Operation – 0 to 5 Years Vehicles in Operation – 6 to 12 Years

Monro is Well-Positioned to Capitalize on Positive Industry Trends,

with Our Sweet Spot Experiencing the Fastest Growth in Vehicles in Operation

50

60

70

80

90

100

110

120

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

+6.56% CAGR -.03% CAGR

▪ Strong growth in new vehicles (0-5 years) between 2012

and 2017 is creating a significant tailwind for the 6-12 year

old vehicle cohort for the next few years

▪ 6-12 year cohort expected to grow the fastest at +3.9%

CAGR for the period 2017 - 2022

▪ Monro’s targeted market segment is the 6-12 year cohort

50

60

70

80

90

100

110

120

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

-3.97% CAGR +3.90% CAGR

Vehicles in Operation – 13+ Years

50

60

70

80

90

100

110

120

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

+4.27% CAGR +1.47% CAGR

Source for all data: Lang, IHS Markit, 2018

Key Highlights

6

A Favorable Industry Backdrop

Monro Operates in the $230 Billion Do-It-For-Me* Segment of $287 Billion U.S. Automotive Aftermarket Industry

Automotive Aftermarket DIFM vs. DIY Sales

0

50,000

100,000

150,000

200,000

250,000

300,000

2012 2013 2014 2015 2016 2017

DIFM DIY

Source: Autocare Association Factbook

2008 % (outlets) 2016 % (outlets) CAGR

Dealers 20,770 15.6% 16,680 12.7% (2.7%)

General Repair

Garages76,564 57.4% 80,071 61.1% 0.6%

Tire Dealers 18,596 14.0% 19,822 15.1% 0.8%

Specialty Repair 9,674 7.3% 7,040 5.4% (3.9%)

Oil Change/Lube 7,649 5.7% 7,437 5.7% (0.4%)

Total 133,253 100% 131,050 100%

Source: Autocare Association Factbook

▪ DIFM continues to gain share from DIY

segment

▪ Vehicle complexity continues to drive shift to

DIFM from DIY

▪ Future technology advances expected to

accelerate shift to DIFM

DIFM vs. DIY Trends

▪ Fewer outlets/bays to work on more vehicles in

operation in the U.S.

▪ Industry still highly fragmented, with significant

opportunities for further consolidation

Key Highlights

* Includes Replacement Tire Segment 7

Fourth Quarter Fiscal 2019 Highlights

▪ Comparable store sales increased by 0.5% when

adjusted for less selling days in the quarter

▪ Sales from new stores added $17.7M, including

sales from recent acquisitions of $14.0M

Achieved Fifth Consecutive Quarter of Positive Comparable Store Sales Growth1

▪ Brakes: 8%

▪ Alignments: 1%

▪ Maintenance: Flat

▪ Tires: -1%

▪ Front End/Shocks: -2%

4QFY19

Key Highlights1

4QFY19

Key Highlights

81Results are adjusted for days

Quarterly Comps Trends

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%

3.5%

4QFY18 1QFY19 2QFY19 3QFY19 4QFY191 11

2-Year Stacked Quarterly Comps Trends

-6.0%

-4.0%

-2.0%

0.0%

2.0%

4.0%

4QFY18 1QFY19 2QFY19 3QFY19 4QFY191 11

A Scalable Platform: Recent Acquisitions

Acquisitions Completed and Announced in Fiscal 2019 Represent $132M in Annualized Sales

1Greenfield stores include new construction as well as the acquisition of one to four store operations

Completed Acquisitions

▪ Completed the acquisition of 40 retail locations and one distribution center in California in 1QFY20

▪ Enters a new state, expanding the Company’s geographic footprint to the West Coast

▪ Building out platform for growth in the region with increased support and capabilities

▪ $45M in annualized sales, breakeven to EPS in FY20

▪ Sales mix of 70% service and 30% tires

▪ Completed the acquisition of 12 retail locations in Louisiana, early in 1QFY20

▪ Enters a new state, expanding the Company’s presence in the southern markets

▪ $15M in annualized sales, breakeven to EPS in FY20

▪ Sales mix of 35% service and 65% tires

Greenfield Openings1

▪ Added three greenfield locations during the fourth quarter

9

Driving Long-Term Sustainable Growth

Enhance Customer-Centric

Engagement• Customer retention

• Customer acquisition

• Omnichannel

Accelerate Productivity

& Team Engagement• Optimized store staffing model

• Clearly defined career path and

enhanced training program

• Aligned compensation

Improve Customer Experience• Online reputation management

• Consistent in-store experience

• Consistent store appearance

Scalable Platform to

Drive SustainableGrowth

Investments in Technology and Data-Driven Analytics to Support Strategic Initiatives

Optimize Product &

Service Offering• Redefined selling approach

• Optimized tire assortment

10

Improve Customer Experience

❑ Improve SEO and local listing management

❑ Effectively build and manage online presenceOnline Reputation

Management

❑ Deliver a best-in-class experience to all customers

❑ Provide clear product choices and quality service to

customers

Consistent In-Store

Experience

❑ Modernize store layout

❑ Establish clear standards for retail bannersConsistent Store

Appearance

Delivering a

Five-Star

Experience

11

3.7

4.0

4.24.3

4.44.5 4.5

4.1

4.5

4.7 4.7 4.7

4.8

4.7

3.0

3.5

4.0

4.5

5.0

-

20,000

40,000

60,000

80,000

100,000

120,000

140,000

160,000

180,000

Q3 FY18 Q4 FY18 Q1 FY19 Q2 FY19 Q3 FY19 Q4 FY19 FY19

Negative Neutral Positive End of Quarter All Time Rating Quarterly Rating

Monro.Forward Progress Update

Monro.Forward Initiatives Well Underway and Advancing as Planned

12

❑ Continuing to execute customer satisfaction and online reputation management

program across Monro’s store base

❑ Focus on the in-store experience is having significant impact on Company online

reviews and has increased “Star Ratings” to 4.7 in fiscal 2019 and 4.5 All-time

Improve Customer

Experience

Nu

mb

er

of

Re

vie

ws

Monro.Forward Progress Update

❑ Rochester pilot refresh stores seeing increased customer satisfaction ratings

❑ Expanding store refresh to approximately 50 stores during 1QFY20

❑ Modernized store layout on track to be rolled out across the Company’s remaining

markets and store formats over the next 3 to 5 years

Improve Customer

Experience

Monro.Forward Initiatives Well Underway and Advancing as Planned

13

Store Refresh: Brand Consolidation Strategy

Consolidating Brand Portfolio Into Five Regional Power Brands to Increase Brand Awareness in Each Market

14

Brand Consolidation Strategy

▪ Through acquisitions, Monro has grown to include nine well-

known retail brands underneath our corporate umbrella

▪ Leveraging customer data-driven analytics to support

consolidation into five regional banners with strong market

awareness

▪ Opportunistically shifting to a tire-oriented banner in targeted

markets with strong upside opportunity

Retail Brand Portfolio

Service Tire

❑ Focus marketing spend to higher ROI channels

❑ Focus on direct marketing via new analytic-based

CRM platform

❑ Enhance private label credit card offering

❑ Use analytics to optimize digital efforts

❑ Leverage market segmentation and demographic

information to facilitate direct marketing to target

customers

❑ Upgraded website with mobile-capable architecture

❑ Launch e-commerce capability for online tire

purchases and installations in-store

❑ Leverage preferred tire installer agreements to

drive traffic

Enhance Customer-Centric Engagement

Customer Retention

Customer Acquisition

Omnichannel

15

Monro.Forward Progress Update

❑ Expanded collaboration with Amazon.com to more than 800 stores, supporting

omnichannel strategy

❑ CRM and digital customer retention initiatives making solid progress

❑ Data-driven “new customer” marketing initiatives launched in 4QFY19

Enhance Customer-

Centric Engagement

Monro.Forward Initiatives Well Underway and Advancing as Planned

16

Expanded Amazon.com Collaboration

▪ Monro’s tire installation services available to customers who purchase

tires online from Amazon.com and select the Ship-to-Store option

▪ Initially launched in the greater Baltimore area, now available at more

than 800 locations operating under a number of Monro brands in 21

states across the United States

▪ Collaboration will be expanded to provide tire installation services to

Amazon.com customers at all of Monro’s retail locations across 30 states

▪ Increased traffic driven by integration with online tire retailers

❑ Improve tire sales strategy to offer the right tires at

the right price

❑ Leverage data to optimize inventory assortment

❑ Simplified invoices and inspection forms

❑ Clearly defined ‘Good, Better, Best’ product options

❑ Educate customers on new tire installation, brake

and oil change service options

Optimize Product & Service Offering

Optimized Tire Assortment

Redefined Selling

Approach

FuturePresentPast

17

Accelerate Productivity & Team Engagement

❑ Aligned store compensation model with

performance

❑ Incentives grow as sales, profits and customer

experience improve

Aligned Compensation

❑ Achieve the right balance of labor and technical

abilities across our stores

❑ Implement data-driven store scheduling software

Optimized Store

Staffing Model

❑ Attract, train and retain talented technicians and

managers

❑ Launched Monro University, a comprehensive

learning management system, to pilot stores in

January 2019

Clearly Defined Career Path

and Enhanced

Training Program

18

Monro.Forward Progress Update

❑ Continued momentum of Good-Better-Best product and service packages

❑ Introduction of new Tier 2 tire brands to optimize tire assortment in 4QFY19

❑ Will continue to refine category management and visual merchandising as part of the

store refresh initiative rollout during FY20

Optimize Product &

Service Offering

❑ Recently launched Monro University training courses, on track to roll out to all

locations over the course of the calendar year

❑ Optimized store staffing model after rightsizing overstaffed and understaffed stores

❑ Data-driven store scheduling and staffing software to be implemented during FY20

Accelerate Productivity

& Team Engagement

Monro.Forward Initiatives Well Underway and Advancing as Planned

19

Scalable Platform to Drive Sustainable Growth

▪ Continue to increase store density in our 30 states

▪ Expand geographically into attractive markets

▪ On average, acquisitions represent the opportunity for 10%

annual sales growth

▪ Acquisition growth drives scale and operating margin expansion,

strengthening competitive advantages

Same Store Sales Growth

▪ Through Monro.Forward, drive higher

customer retention and acquisition rates

Acquisitions

▪ Create value through profitable

acquisitions

Greenfield Expansion

▪ Continue new store openings in existing

markets

▪ ~20 to 40 stores per year

A Scalable Business Model with Multiple Avenues for Growth

20

A Proven M&A Strategy

Monro’s Acquisition Strategy Has Delivered Significant Growth Over the Years

Historical Acquisition Activity

Average

Acquisition

Size

FY13 FY14 FY15 FY16 FY17 FY18 FY19

Number of

locations139 stores 20 stores 80 stores

35 stores and

134 franchise

locations

78 stores,

4 wholesale

locations and 2

retread

facilities

28 stores

38 stores, 4

wholesale

locations and 1

retread facility

15 Stores

Annualized

Sales growth~$190 million ~$35 million ~$90 million ~$35 million ~$150 million $20 million $70 million ~$20 million

A Proven Track Record

▪ 49 acquisitions in the last 17 fiscal years, encompassing 724 locations and $970 million of revenue

▪ 33 acquisitions in the past 7 fiscal years, adding 429 locations and $630 million in revenue

▪ Entered 9 new states, expanding our presence in the Southern and Western markets

21

Solid Fourth Quarter Performance and FY19 Results In-Line with Company Expectations

Fourth Quarter and Fiscal 2019 Results

4QFY19 4QFY18 Δ FY19 FY18 Δ

Sales (millions) $287.2 $285.6 0.6% $1,200.2 $1,127.8 6.4%

Same Store Sales1 0.5% 2.4% (190 bps) 2.3% (0.1%) 240 bps

Gross Margin 38.3% 37.7% 60 bps 38.8% 38.6% 20 bps

Operating Margin 9.9% 10.7% (80 bps) 10.6% 11.3% (70 bps)

GAAP EPS $.50 $.52 (3.8%) $2.37 $1.92 23.4%

One-time Costs2 $.01 $.02 $.07 $.10

One-time Tax (Benefit) / Expense ($.04) ($.06) $.06

One-time Extra Selling Week

Benefit($.10) ($.10)

Adjusted EPS $.51 $.40 27.5% $2.38 $1.98 20.2%

1Adjusted for days2Diluted earnings per share included $.01 per share of one-time costs related to increased acquisition activity in 4QFY19 compared to 4QFY18. This compares to $.02 per share in management transition costs in 4QFY18. In fiscal 2019, there were $.05 per share in one-time costs related

to Monro-Forward investments, $.01 per share in one-time costs related to the increased acquisition activity in 4QFY19 compared to 4QFY18, and $.01 per share in corporate and field management realignment costs, compared to $.04 per share in litigation settlement costs and $.06 per

share in management transition costs in fiscal 201822

Fiscal 2020 Outlook

FY20 FY19 Δ

Sales (millions) $1,295 to $1,325 $1,200 8% to 10%

Same Store Sales +2% to +4% 2.3%-30 bps to

170 bps

GAAP EPS $2.55 to $2.75 $2.37 8% to 16%

Delivering Growth Today While Continuing to Invest for Tomorrow

Operating Margin

▪ Assumes operating margin of ~11.3% at midpoint of FY20 sales

guidance

▪ Expect stable tire and oil costs year-over-year

▪ Expect to generate earnings increase on a comparable store sales

increase above ~1%

Additional Guidance Assumptions (at the midpoint)

▪ Interest expense of ~$32 million

▪ Depreciation and amortization of ~$67 million

▪ EBITDA of ~$215 million

▪ Tax rate of ~23.5%

▪ Capital expenditures of ~$65 million

▪ 33.9 million weighted average number of diluted shares outstanding

Stores

▪ Guidance includes recently completed acquisitions in

California and Louisiana and excludes any additional potential

acquisitions

▪ Guidance includes six ground-up greenfield store openings in

FY20

23

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

FY19 FY21E

4.0% +

2.3%

10.0%

10.5%

11.0%

11.5%

12.0%

12.5%

13.0%

FY19 FY21E

12.0%+

10.6%

SSS Improvement

Operating Margin

Expansion

Longer-Term Organic Growth Financial Targets

Accelerating Same Store Sales Growth Drives Operating Leverage and Double Digit Earnings Growth

❑ Accelerate from 2% to above 4%Same Store Sales Growth

❑ Return to 12%+ Operating MarginOperating Margin

Expansion

❑ Deliver Consistent 10% - 15% Earnings

GrowthEarnings Per Share Growth

Note: Financial targets exclude any future potential acquisitions

1Adjusted for days 24

1

Disciplined Capital Allocation

Executing on Growth Strategy While Maintaining a Disciplined Approach to Capital Allocation

Investing in the Business

▪ Capex of $44.5M during fiscal 2019

▪ Continue to expect ~$75M of incremental Capex over 5 years to invest in store re-image and technology

Returning Cash to Shareholders

▪ Paid $26.8M in dividends in fiscal 2019

▪ Currently $.22 per share quarterly, an increase of 10% from fiscal 2019

Executing on M&A Opportunities

▪ Spent $62.4M on acquisitions during fiscal 2019

▪ Acquisitions completed and announced in fiscal 2019 represent $132M in annualized sales, or 11% annualized sales

growth

Utilizing Strong Balance Sheet

▪ Generated $152.9M of operating cash flow in fiscal 2019

▪ Debt-to-EBITDA ratio as of March 2019 of 2.15x provides significant flexibility to fund M&A strategy

▪ Extended revolving credit facility25

Investment Highlights

▪ Leading chain of Company-operated undercar care facilities in the U.S. with a wide breadth of product and service offerings

▪ Strong position in Northeast, Great Lakes and Mid-Atlantic and expanding into Western markets with a presence in 30 states

▪ 18 years of consecutive annual sales growth

▪ Low cost operator with strong operating margins

▪ Well-positioned to capitalize on a favorable industry backdrop

▪ Monro.Forward strategy creating a scalable platform to drive sustainable growth, with a focus on operational excellence to

increase overall customer lifetime value

▪ Significant growth opportunity to execute disciplined acquisition strategy in a highly fragmented industry

▪ Strong balance sheet and cash flow

▪ Delivering consistent shareholder returns with fourteen dividend increases, every year since a cash dividend was initiated

26

Appendix

27

Q2 FY19 Q3 FY19 Q4 FY19 Q2 FY20 Q3 FY20 Q4 FY20Q4 FY18 FY20FY19 FY21

Monro.Forward Strategic Initiatives

New store comp plans

Technology based in-store experience

Data-driven “new customer” marketing

Monro omnichannel & e-commerce

Store staffing & scheduling system

Improve Customer Experience

Enhance Customer-Centric Engagement

Optimize Product & Service Offering

Accelerate Productivity & Team Engagement

Foundational technology & tools

New in-store sales packages

Scheduled maintenance in-store selling

Data-driven CRM

New websites

Tire category management

Scale store refresh & operational excellence

= Completed Initiatives

28

Pilot store refresh & operational excellence

Monro University pilot (includes career path, LMS)