THE CORPORATE LIBRARY

Related Party Transactions and Outside Related Director Information

Tim Hortons Inc. (THI)

3/21/2006 S-1/A Information

A trust for the benefit of Paul D. House is the sole shareholder of a corporation that purchased a shopping centre property in Tottenham, Ontario, Canada from an unrelated third party in 1998. As part of that purchase, the corporation now leases a Tim Hortons restaurant to one of our subsidiaries, which lease has a remaining term of nine years. The amounts of rent paid to the corporation in fiscal 2004 and 2005 were $55,000 and $58,763, respectively. In our opinion, the terms of this lease are no less favourable than we could have obtained from an unrelated third party.

Frank Iacobucci was elected to our board of directors in January 2006. Mr. Iacobucci is counsel to the law firm Torys LLP. We have engaged Torys LLP from time to time to provide legal advice and services for us and our subsidiaries. Torys LLP also serves as legal counsel to the underwriters of this offering with respect to matters of Canadian law.

During the term of the shared services agreement—while Wendy’s will own over 80% of our common stock—Wendy’s Chief Executive Officer and Chief Financial Officer will spend a portion of their time attending to matters relating to us. Accordingly, pursuant to the shared services agreement, we will pay to Wendy’s (not to those executives) US$210,000 per month to cover a portion of Wendy’s costs related to those executives’ compensation.