Annual General Meeting
June 17, 2009

Sam Baio
President & CEO

Forward-Looking Statements
Certain statements in this presentation are forward-looking and are
subject to important risks, uncertainties and assumptions concerning
future conditions that may ultimately prove to be inaccurate and may
differ materially from actual future events or results.
Forward-looking statements are based on estimates made by
management of West 49 Inc. based on current information. These are
not formal forecasts or projections of future results and have not been
derived from any pro forma financial statements now have been
audited or reviewed by any third party. You are reminded not t place
undue reliance on these forward-looking statements, which speak only
as of the date hereof. West 49 Inc. shall undertake no obligation to
release publicly any revisions to these forward-looking statements to
reflect events or circumstance that occur after the date hereof or to
the occurrence of unanticipated events.
3

FY 2009 in Review
• Volatile Canadian $
• Cross-border shopping
• Minimum wage increases
• Troubling economy
4

FY 2009 in Review
• Best brands on Earth,
lowest prices ever
• Platinum Club sales
incentive program
• Ontario no-tax event
5

FY 2009 in Review
6

FY 2009 in Review
• Shut down Duke’s Northshore
• Centralized all functions for the
Off The Wall banner into our
Burlington head office
7

A Strong Start to FY 2010
• Continued top line growth
• Higher gross margin
• Benefited from focus on expense
management
• Narrowed loss from a year ago
8

Rhonda Biddix
CFO &
Corporate Secretary

Financial Review — FY 2009
• Goodwill & intangible asset
impairment charge = $12M
• Impairment related to Duke’s
Northshore = $0.9M
10

Financial Review — FY 2009
Net Sales
FY 2009 = $210.4M
FY 2008 = $204.9M
Comparable Store Sales
Consolidated = -0.4%
West 49 banner = +0.1%
Gross Margin
FY 2009 = $46.8M
FY 2008 = $52.4M
11

Financial Review — FY 2009
Normalized EBITDA
FY 2009 = $3.4M
FY 2008 = $8.8M
Normalized Net Income (Loss)
FY 2009 = ($2.6M)
FY 2008 = $1.5M
Income (Loss) Per Share, Normalized
FY 2009 = ($0.04)
FY 2008 = $0.02
12

Financial Review — Q1 2010
Net Sales
Q1 2010 = + $40.8M
+ 4.9%
Q1 2009 = + $38.9M
Comparable Store Sales
Consolidated = +2.9%
West 49 banner = +7.7%
13

Financial Review — Q1 2010
Gross Margin
Q1 2010 = + $7.4M
+ $2.6M
Q1 2009 = + $4.8M
Gross Margin Rate*
Q1 2010 = + 18.1%
+ 580 bps
Q1 2009 = + 12.3%
• Improved product margins
• Improved focus on inventory and merchandising
14 * As a rate to net sales

Financial Review — Q1 2010
EBITDA (Loss)
Q1 2010 = ($2.2M)
Q1 2009 = ($4.3M)
Net Income (Loss)
Q1 2010 = ($2.6M)
Q1 2009 = ($4.2M)
Income (Loss) per Share
Q1 2010 = ($0.04)
Q1 2009 = ($0.07)
15

Sam Baio
President & CEO

Our Outlook
• Recession / recovery???
• Our efforts are just
beginning to pay off
Better positioned for
BACK-TO-SCHOOL and
HOLIDAY selling seasons
17

We will be THE retail destination
of choice for Canadian
tweens & teens
seeking to fulfill their action
sports lifestyles needs.

Attractive Target Market
• Spend $4.9 billion / year
 ½ on clothing, footwear
& accessories
• Account for 76% of action
sports participants
19

Top Brands for Canadian Youth
Clothing Shoes
1. American Eagle 1. Nike
2. Hollister 2. DC
3. West 49 3. Converse
4. DC 4. Adidas
5. Stitches 5. Vans
6. Bluenotes 6. Puma
7. Aeropostale 7. Airwalk
8. Garage 8. C1Rca
9. Billabong 9. Etnies
10. Nike 10. Ugg
20 Source: Global Habbo Youth Survey – Brand Update 2009

Unique Promotions
21

OPEN NEW STORES
in new & existing markets
MAXIMIZE RETURNS
from existing stores

Annual General Meeting
June 17, 2009
Produced by The Equicom Group Inc.