West 49 Inc. 2009 AGM Presentation

Annual General Meeting June 17, 2009

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.

FY 2009 in Review ,[object Object],[object Object],[object Object],[object Object],Challenging year

FY 2009 in Review ,[object Object],[object Object],[object Object],Primary objective: defend market share

FY 2009 in Review Defended market share Grew comparable store sales Impacted margins

FY 2009 in Review ,[object Object],[object Object],Decisive action

A Strong Start to FY 2010 ,[object Object],[object Object],[object Object],[object Object],First quarter progress

Financial Review — FY 2009 ,[object Object],[object Object],Results impacted by non-cash items

Financial Review — FY 2009 ,[object Object],FY 2009 = $210.4M FY 2008 = $204.9M Comparable Store Sales Gross Margin Consolidated = -0.4% West 49 banner = +0.1% FY 2009 = $46.8M FY 2008 = $52.4M

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

Financial Review — Q1 2010 ,[object Object],Q1 2010 = + $40.8M Q1 2009 = + $38.9M Comparable Store Sales Consolidated = +2.9% West 49 banner = +7.7% + 4.9%

Financial Review — Q1 2010 ,[object Object],[object Object],[object Object],Q1 2010 = + $7.4M Q1 2009 = + $4.8M Gross Margin Rate* Q1 2010 = + 18.1% Q1 2009 = + 12.3% * As a rate to net sales + $2.6M + 580 bps

Financial Review — Q1 2010 ,[object Object],Q1 2010 = ($2.2M) Q1 2009 = ($4.3M) Net Income (Loss) Income (Loss) per Share Q1 2010 = ($2.6M) Q1 2009 = ($4.2M) Q1 2010 = ($0.04) Q1 2009 = ($0.07)

Our Outlook ,[object Object],[object Object],Better positioned for BACK-TO-SCHOOL and HOLIDAY selling seasons

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

Attractive Target Market ,[object Object],[object Object],[object Object],Canadian tweens and teens

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

Growing our core business MAXIMIZE RETURNS from existing stores OPEN NEW STORES in new & existing markets

West 49 Inc. 2009 AGM Presentation

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