Special Stockholders’ MeetingJanuary 18, 2007

Acquiring the Brooks and Eckerd Drugstore ChainsA Unique Opportunity for Rite Aid

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Forward-Looking and Cautionary StatementForward-Looking and Cautionary Statement

This is an oral presentation which is accompanied by slides. Investors are urged to review our SEC filings.During today’s presentation forward-looking statements may be made. Such statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. Consequently, all forward-looking statements made during this presentation are qualified by those risks, uncertainties and other factors.Please reference our SEC filings, which are available on our web site, for a detail description of factors that could cause actual results to differ materially from those expressed or implied in such forward-looking statements.Also during today’s presentation, non-GAAP financial measures are referenced. The definition and purpose for using these measures and historical and prospective reconciliations to GAAP measures are in our Form 8-K we furnished the SEC which is available on our web site.

3

Attractive Stores, Desirable LocationsAttractive Stores, Desirable Locations

As of August 24, 2006

631381654754

356

1

287

49258

107

188

2861372125

Brooks Eckerd Store Base

Distribution Centers

1,858 Stores

4

Brooks Eckerd Improving Sales TrendsBrooks Eckerd Improving Sales Trends

-5%-4%-3%-2%-1%0%1%2%3%4%5%6%7%

Q1 Q2 Q3 Q4 Q1 Q2

Front-End Pharmacy

2006 2007

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Dedicated Integration Team Focused on Successful ImplementationDedicated Integration Team Focused on Successful Implementation

Functional Detail Plan

Integration Leadership TeamMary Sammons, Jim Mastrian, Pierre Legault, Chris Hall

Integration LeaderChris Hall

Synergy Control Project Manager Project Mgmt Office

Communication, Change Mgmt,

Training Category Mgmt Supply Chain Finance

IT Infrastructure

IT Development Construction Store Ops Rx Ops

Marketing & Merchandising

Supply Chain

Operations

Store Construction

Pharmacy Services

Pharmacy Operations

Information Services

Finance Human Resources

Legal & Internal Audit

Communication

Ded

icat

ed R

esou

rces

6

Integration Plan ApproachIntegration Plan Approach

Phase 2Phase 1 Phase 3 Phase 4Store

AnalysisInstall IT servers &

VSATExpand DC

capacity

4 – 6 Months 12 Months 24 - 36 Months

Maintain Continuity of the Business

ClosePre-Close

Successful Integration & Conversion of

Brooks / Eckerd Stores and Distribution

Centers

Retrofit Planograms

Store Systems

Conversion

Supply Chain Conversion

Remerchandise

New DécorPackage

Store Remodeling

7

Integration Plan UpdateIntegration Plan Update

• Plan completed• Conversion scheduled, timetables finalized• Moving into implementation phase

– Purchase of computer/broadcast equipment• 23 pilot stores identified• Integration meetings with Brooks and Eckerd

associates in January/February– Field management– Store and pharmacy managers

• Field management structure finalized

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Exterior Signage –Before and AfterExterior Signage –Before and After

9

Interior Signage –Before and AfterInterior Signage –Before and After

10

Interior Signage –Before and AfterInterior Signage –Before and After

11

Interior Signage –Before and AfterInterior Signage –Before and After

12

Interior Signage –Before and AfterInterior Signage –Before and After

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Rite Aid After the AcquisitionRite Aid After the Acquisition

Rite Aid Will Have Approximately 5,000 Stores Nationally and Become the Largest Retail Drugstore Chain in the Eastern US

Approximately5,000

Stores Total

A Stronger National Drugstore Chain with Increased Presence

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Market Presence in Key MSA’s After AcquisitionMarket Presence in Key MSA’s After Acquisition

Leadership Positions in Eastern US MSA’s Metro Area Rankings

3Hartford, CT3Nashville, TN3Boston, MA3Atlanta, GA2Allentown, PA2Worcester, MA2Albany, NY2Stamford, CT2Richmond, VA2Charlotte, NC2Providence, RI2District of Columbia2New York, NY1Raleigh Cary, NC

1Rochester, NY

1Buffalo, NY1Virginia Beach, VA1Pittsburgh, PA

1Baltimore, MD1Philadelphia, PA

RankMetro Area

Source: Metro Markets 2006

#1 Share38%

#2 Share40%

#3 Share12%

Other10%

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Scale Similar to Walgreens and CVSScale Similar to Walgreens and CVS

Source: Public filings

5,0005,500

6,200

3,300

Store Count

56% Increase

in Store Base

Pro Forma

Approximately

Approximately

Approximately

Approximately

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Pro Forma Revenues and Adjusted EBITDAPro Forma Revenues and Adjusted EBITDA

Rite Aid Revenues Rite Aid Pro Forma Revenues

Fiscal 2006 Revenue = $17.3 billion Fiscal 2006 PF Revenue = $26.8 billion

Rite Aid Pro Forma Fiscal 2006 Adjusted EBITDA

$1,044

$676

$369

$0

$200

$400

$600

$800

$1,000

$1,200

Rite Aid Adj EBITDA Jean Coutu USA Adj EBITDA Rite Aid PF Adj EBITDA(1) (2)

($ in millions)

3.9%

3.9%

37%63%

Pharmacy

Front End

Pharmacy

Front End33%

67%

(1) Rite Aid Fiscal 2006 Adjusted EBITDA is a non-GAAP financial measure and is defined and reconciled to operating results in its Form 8-K furnished to the SEC. (2) Jean Coutu USA fiscal 2006 Adjusted EBITDA is a non-GAAP financial measure and is defined and reconciled to operating results in its Form 6-K furnished to the SEC and in the

attached schedule.

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Meaningful Net Reductions in Costs and Expenses after AcquisitionMeaningful Net Reductions in Costs and Expenses after Acquisition

Gross Profit Improvement

Advertising Expense Optimization

Distribution Improvement & Other

Cost Savings

Corporate Administration

Reduction

~$150 Million Annual Full

Run-Rate Net Reductions in

Costs and Expenses

Achieve Full Run-Rate Net Reductions in Costs and Expenses 12 Months After Transaction Close

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Pro Forma Adjusted EBITDAPro Forma Adjusted EBITDA

Rite Aid Pro Forma Fiscal 2006 Adjusted EBITDA

$1,044

$1,194

$676

$150

$369

Rite Aid AdjEBITDA

Jean Coutu USAAdj EBITDA

Rite Aid PF AdjEBITDA

Net Reductions Rite Aid PF AdjEBITDA with Net

Reductions

(1) (2)

($ in millions)

3.9%

3.9%

4.5%

(1) Rite Aid Fiscal 2006 Adjusted EBITDA is a non-GAAP financial measure and is defined and reconciled to operating results in its Form 8-K furnished to the SEC. (2) Jean Coutu USA fiscal 2006 Adjusted EBITDA is a non-GAAP financial measure and is defined and reconciled to operating results in its Form 6-K furnished to the SEC and in the

attached schedule.

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3.9% 3.9%

4.5%

7.3%7.4%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

Pro Forma

Opportunities for Additional Operational ImprovementsOpportunities for Additional Operational Improvements

Adjusted EBITDA Margin(1)

Without Net Synergies

Pro Forma

With Net Synergies(2)

Potential M

argin

Upside Improvement

(1) Adjusted EBITDA margin for Rite Aid based on fiscal 2006. Rite Aid Fiscal 2006 Adjusted EBITDA is a non-GAAP financial measure and is defined and reconciled to operating results in its Form 8-K furnished to the SEC. Jean Coutu USA fiscal 2006 Adjusted EBITDA is a non-GAAP financial measure and is defined and reconciled to operating results in its Form 6-K furnished to the SEC and in the attached schedule. EBITDA margin for Walgreens and CVS based on LTM November 30, 2006 and September 30, 2006, respectively.

(2) Assumes annual full run-rate net synergies of $150 million.

Revenue Synergies and Additional Operational Improvements Provide Further Upside

Opportunities atBrooks & Eckerd Stores• Front-end improvement• Greater purchasing

efficiencies due to increase in scale for both Rite Aid and Brooks / Eckerd

• Underperforming store improvement

• Rationalize distribution center network

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Expected Financial ImpactExpected Financial Impact

• Annual net reduction in costs and expenses of approximately $150 million 12 months after closing

• Accretive to EPS 12 months after closing– Dilutive first 12 months following closing

due to integration costs• Additional free cash flow after one year• Additional revenue potential• A debt ratio below the level it is today within

12 to 24 months after closing

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Next StepsNext Steps

• Obtain FTC approval– Response to second request certified this

week• Finalize financing details

– Build term-loan syndicate– Assume 8.5% Jean Coutu Group Notes– Sell bonds

• Expected close– Shortly after Q4, which ends March 3, 2007

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Acquisition Is a Unique OpportunityAcquisition Is a Unique Opportunity• Adds attractive stores in desirable locations • Gives Rite Aid the greater scale needed to compete more effectively

with our major rivals• Creates leading drug retailer in the Eastern U.S.• Strengthens our ability to take advantage of opportunities for growth in

our industry – and we believe Rite Aid has the experience, systems and resources to make the most of these opportunities

• Enables us to better withstand industry and competitive challenges• Provides opportunities for significant cost savings• Potential to realize additional revenue synergies• Improves growth and value proposition

Special Stockholders’ MeetingJanuary 18, 2007

Acquiring the Brooks and Eckerd Drugstore ChainsA Unique Opportunity for Rite Aid