I n v e s t o r P r e s e n t a t i o n

Liberty Tax, Inc.

Safe Harbor Statement

This presentation may contain forward-looking statements within the meaning of the securities laws. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words or variations of words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “projects,” “forecasts,” “targets,” “would,” “will,” “should,” “could,” or “may” or other similar expressions. Forward-looking statements provide management’s current expectations or predictions of future conditions, events or results. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future are forward-looking statements. They may include estimates of revenues, income, earnings per share, capital expenditures, dividends, liquidity, capital structure or other financial items, descriptions of management’s plans or objectives for future operations, products or services, or descriptions of assumptions underlying any of the above. All forward-looking statements speak only as of the date they are made and reflect the Company’s good faith beliefs, assumptions and expectations, but they are not guarantees of future performance or events. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions, factors, or expectations, new information, data or methods, future events or other changes, except as required by law. By their nature, forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Factors that might cause such differences include, but are not limited to, a variety of economic, competitive and regulatory factors, many of which are beyond the Company’s control and that are described in our Annual Report on Form 10-K for the fiscal year ended April 30, 2015 in the section entitled “Risk Factors”, as well as additional factors we have described and may describe from time to time in other filings with the Securities and Exchange Commission. You should understand that it is not possible to predict or identify all such factors and, consequently, you should not consider any such list to be a complete set of all potential risks or uncertainties. 2

Agenda

The Industry

The Company

Future Opportunities

130 130 130132

134

138

143 142140

143145 145 146

148 149151

154

The Industry is Large and Steadily Growing

Source: SOI Tax Stats Historical Table 1 (2001-2012), Publication 6149 (2015 update), figures are for calendar years filed

U.S. Individual Tax Returns(in millions)

4

Three certainties in life: Death, Taxes and Change!

Online Providers Have Not Reduced Paid Preparer Market Share

58% 59% 60% 62% 63% 63% 63% 60% 61% 60% 61% 60% 60% 60% 59%

42% 41% 40% 38% 37% 37% 37% 40% 39% 40% 39% 40% 40% 40% 41%

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Paid Preparer DIY

Source: Liberty Tax, Inc. estimates and IRS data, figures are for calendar years filed5

Growth in DIY resulting from previous pen and paper filers, not taking from paid preparer segment.

This is NOT a DIY Generation

6

From 2010 to 2013, revenue in Nail Salons has grown 34%

Revenue in Pet Grooming & Boarding has grown 20% since 2010

In 2013, Sales in Landscaping grew 12% and Profitability improved by more than 50%

Molly Maid cleaning service has a 97% customer retention rate, with nearly $20 billion in annual sales and a projected growth rate of 20%

Source: Forbes article (4/23/2014), Statista, www.mollymaid.com, www.about.com Franchises

Agenda

The Industry

The Company

Future Opportunities

Company Overview

2nd largest preparer of paid tax returns in the United States and Canada

Gaining market share every year for 17 years

Close to 4,500 locations in U.S. and Canada

More than 95% franchised

8

Liberty’s Competitive Advantage

Vs. Branded Competitors Our Franchise structure creates “ownership” mentality

No CEO turnover – Long Term Focus

Local Guerrilla Marketing efforts

Vs. Mom & Pops More attractive Financial product choices

In-house certification program for tax preparers

Support infrastructure for complicated returns

9

Liberty is positioned to outperform both branded competitors and Mom and Pops

Financial Products are Important to our Customers

Key Advantages: Refund Transfer Lowest price among branded

competitors

NetSpend Card Fastest access to refund - opportunity to

improve attachment rates

Refund Advance Most flexible offering for consumers

10

~50% of U.S. Customers Receive a Refund Transfer Product

Growth Across All Metrics

3,620 3,995 4,074 3,926 4,023 4,222

225188

446 512 305 265

2011 2012 2013 2014 2015 2016

Seasonal Permanent

Total LocationsCAGR = 7.7%

1,946 2,075 2,116 2,201 2,247

2011 2012 2013 2014 2015

Total Returns (offices only)(in thousands)

CAGR = 3.7%

$338.6 $359.1$381.2

$421.2$434.9

2011 2012 2013 2014 2015

Systemwide Revenue (offices only)(in millions)

CAGR = 6.5%

11* Numbers reflect both U.S. and Canada operations

Financial Performance

EBITDAAdjusted Net Income and EPS1Revenue

$118

$131

$148

$160$162

2011 2012 2013 2014 2015

$32$35

$40

$45$43

2011 2012 2013 2014 2015

1 Net income and EPS adjusted for non-recurring items.

($ in millions except per share data)

$1.00 $1.22 $1.39 $1.45

12

$1.36

Agenda

The Industry

The Company

Future Opportunities

Growth Initiatives - SiempreTax+

Launched in FY2015 with 57 locations in 16 states, grew to 144 locations this year

Service to Hispanic community is reinforced with over 800 Hispanic certified Liberty offices

14

New brand focused on fast growing, underserved Hispanic market

Source: U.S. Census Bureau, 1970, 1980, 1990, and 2000 Decennial Censuses; July 1, 2011 Population Estimates; 2008 National Population Projections

Includes citizens, legal immigrants, non-citizen long-term visitors and illegal immigrants.

SiempreTax+ Office Locations

15

Over 25% Hispanic 10-25% Hispanic5-10% Hispanic Less than 5% Hispanic

Source: www.census.gov/2010census/data

Affordable Care Act

Minimal impact so far, in fact confusion and fear may be keeping people from filing

2016 changes should drive more upside for paid preparers

Confusion over new 1095 notices

Higher penalties - bigger refund surprises

Increased IRS enforcement

16

Increased Complication will provide long-term opportunities for paid preparers, but impact has been slow to materialize

Mom & Pop Consolidation Opportunity

65% Mom & Pops

2% Liberty

2% Jackson Hewitt16% H&R Block

Liberty’s Focus

17Source: Liberty Tax, Inc. estimates and IRS data

FY 2015Paid Preparer Segment

15% CPAs

Liberty Tax, Inc.

I n v e s t o r P r e s e n t a t i o n

Industry Attractive to Entrepreneurs

Predictability and history of tax industry adds a sense of security

Low capital requirements

Short duration of tax season results in low annual overhead

Labor force is plentiful and inexpensive

Annual filing requirements result in “annuity like” demand

Recession resistant

Low investment in time

2/3 of our franchisees keep their day job while building their business

19

ACA and Immigration Reform make this the best time in decades to be in the tax industry

There is Seasonality within the 4 Month Tax Season

20

Q4Q3

FY 2015

Fastest Refund• Younger• Lower income• Simple returns

Minimize Payment• Older• Higher Income• Complex Return