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Analyst Coverage
| Firm | Analyst |
| Bank of America Merrill Lynch | Joseph Buckley |
| BMO Capital Markets | Peter Sklar |
| Canaccord / Genuity | Candice Williams |
| CIBC World Markets | Perry Caicco |
| Cowen and Company | Paul Westra |
| Desjardins Securities | Keith Howlett |
| Edward Jones | Brian Yarborough |
| Goldman Sachs | Michael Kelter |
| Morgan Stanley | Jon Tower / John Glass |
| Raymond James | Kenric Tyghe |
| RBC Capital Markets | Irene Nattel |
| Scotia Capital | Patricia Baker |
| SunTrust Robinson Humphrey | Christopher O'Cull |
| TD Newcrest | Michael Van Aelst |
| UBS Securities | David Palmer |
Tim Hortons Inc. is followed by the analysts listed above. Please note that any opinions, estimates or forecasts regarding Tim Hortons Inc.'s performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of Tim Hortons Inc. or its management. Tim Hortons Inc. does not by its reference above or distribution imply its endorsement of or concurrence with such information, conclusions or recommendations.
