EX-99.2

Dollar Tree Acquisition of Family Dollar

July 28, 2014

Exhibit 99.2

Safe Harbor

We (Dollar Tree, Inc.) obtained or created the market and competitive position data used throughout this presentation from research, surveys or studies conducted

by third parties, information provided by customers, and industry or general publications. Industry publications and surveys generally state that they have obtained

information from sources believed to be reliable but do not guarantee the accuracy and completeness of such information. While we believe that each of these

studies and publications and the other information we receive or review is reliable, we have not independently verified such data and we do not make any

representation as to the accuracy of such information.

Certain statements contained herein are “forward-looking statements” that are subject to the safe harbor provisions of the Private Securities Litigation Reform Act

of 1995. These forward-looking statements and information about our current and future prospects and our operations and financial results are based on currently

available information. Various risks, uncertainties and other factors could cause actual future results and financial performance to vary significantly from those

anticipated in such statements. The forward looking statements include assumptions about our operations, such as cost controls and market conditions, and

certain plans, activities or events which we expect will or may occur in the future and relate to, among other things, the business combination transaction involving

Dollar Tree and Family Dollar, the financing of the proposed transaction, the benefits, results, effects and timing of the proposed transaction, future financial and

operating results, and the combined company’s plans, objectives, expectations (financial or otherwise) and intentions. Risks and uncertainties related to the

proposed merger include, among others: the risk that Family Dollar’s stockholders do not approve the merger; the risk that regulatory approvals required for the

merger are not obtained on the proposed terms and schedule or are obtained subject to conditions that are not anticipated; the risk that the financing required to

fund the transaction is not obtained; the risk that the other conditions to the closing of the merger are not satisfied; potential adverse reactions or changes to

business or employee relationships, including those resulting from the announcement or completion of the merger; uncertainties as to the timing of the merger;

competitive responses to the proposed merger; response by activist shareholders to the merger; costs and difficulties related to the integration of Family Dollar’s

business and operations with Dollar Tree’s business and operations; the inability to obtain, or delays in obtaining, the cost savings and synergies contemplated by

the merger; uncertainty of the expected financial performance of the combined company following completion of the proposed transaction; the calculations of, and

factors that may impact the calculations of, the acquisition price in connection with the proposed transaction and the allocation of such acquisition price to the net

assets acquired in accordance with applicable accounting rules and methodologies; unexpected costs, charges or expenses resulting from the merger; litigation

relating to the merger; the outcome of pending or potential litigation or governmental investigations; the inability to retain key personnel; and any changes in

general economic and/or industry specific conditions. Consequently, all of the forward-looking statements made by Dollar Tree or Family Dollar, in this and in other

documents or statements are qualified by factors, risks and uncertainties, including, but not limited to, those set forth under the headings titled “Cautionary

Statement Regarding Forward-Looking Statements” and “Risk Factors” in Dollar Tree’s Annual Report on Form 10-K for the fiscal year ended February 1, 2014,

Family Dollar’s Annual Report on Form 10-K for the fiscal year ended August 31, 2013, Dollar Tree’s Quarterly Report on Form 10-Q for the quarter ended May 3,

2014, Family Dollar’s Quarterly Report on Form 10-Q for the quarter ended May 31, 2014, and other reports filed by Dollar Tree and Family Dollar with the SEC,

which are available at the SEC’s website http://www.sec.gov. Please read our “Risk Factors” and other cautionary statements contained in these filings. Readers

are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Dollar Tree and Family Dollar, undertake

no obligation to update or revise any forward-looking statements, even if experience or future changes make it clear that projected results expressed or implied in

such statements will not be realized, except as may be required by law. As a result of these risks and others, actual results could vary significantly from those

anticipated herein, and our financial condition and results of operations could be materially adversely affected.

Additional Information

Important Information for Investors and Shareholders

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there

be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws

of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of

1933,

amended.

connection

with

the

proposed

merger

between

Dollar

Tree

and

Family

Dollar,

Dollar

Tree

will

file

with

the

Securities

and

Exchange

Commission (SEC) a registration statement on Form S-4 that will include a proxy statement of Family Dollar that also

constitutes a prospectus of Family Dollar.

After the registration statement has been declared effective by the SEC, the definitive proxy statement/prospectus will be delivered to shareholders of Family

Dollar. INVESTORS AND SECURITY HOLDERS OF FAMILY DOLLAR ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT/PROSPECTUS

(INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) AND OTHER DOCUMENTS RELATING TO THE MERGER THAT WILL BE FILED WITH

THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION

ABOUT THE PROPOSED MERGER. Investors and security holders will be able to obtain free copies of the registration statement and the definitive proxy

statement/prospectus (when available) and other documents filed with the SEC by Dollar Tree and Family Dollar through the website maintained by the SEC at

http://www.sec.gov.

Copies

the

documents

filed

with

the

SEC

Dollar

Tree

will

available

free

charge

Dollar

Tree’s

internet

website

www.DollarTree.com

under

the

heading

“Investor

Relations”

and

then

under

the

heading

“Download

Library”

contacting

Dollar

Tree’s

Investor

Relations

Department at 757-321-5284. Copies of the documents filed with the SEC by Family Dollar will be available free of charge on Family Dollar’s internet website at

www.FamilyDollar.com

under the heading

“Investor Relations”

and

then under the heading “SEC Filings”

or by contacting Family Dollar’s Investor Relations

Department at 704-708-2858.

Participants in the Solicitation

Dollar Tree, Family Dollar, and their respective directors, executive officers and certain other members of management and employees may be deemed to be

participants in the solicitation of proxies from the holders of Family Dollar common stock in respect of the proposed transaction. Information regarding the

persons who may, under the rules of the SEC, be considered participants in the solicitation of proxies in favor of the proposed merger will be set forth in the

proxy statement/prospectus when it is filed with the SEC. You can find information about Dollar Tree’s and Family Dollar’s directors and executive officers in

their respective definitive proxy statements filed with the SEC on May 12, 2014 and December 6, 2013, respectively. You can obtain free copies of these

documents from Dollar Tree or Family Dollar using the contact information above.

Compelling Strategic Rationale

Creates the largest discount retailer in North America, by number of

stores

Complementary business models across fixed-

and multi-price points

Targets broader range of customers and geographies

Leverages complementary merchandise expertise

Generates significant synergy opportunities

Enhances financial performance and improves growth prospects

Transaction Overview

Transaction multiples based on Family Dollar LTM EBITDA ending May 31, 2014 of $815mm

Assumes $300mm in run-rate synergies

Excluding one-time transaction costs and acquisition accounting adjustments

Terms

$74.50 per Family Dollar Stores, Inc. share, implying $9.2 billion enterprise value

•

Represents 22.8% premium to Family Dollar’s closing share price of $60.66 as of July 25, 2014

•

Represents Enterprise Value / LTM EBITDA

excluding synergies: 11.3x

•

Represents Enterprise Value / LTM EBITDA

1,2

including synergies: 8.2x

Under the terms of the transaction, Family Dollar shareholders will receive $74.50 for each share they own,

comprised of $59.60 in cash and $14.90 in Dollar Tree stock.

The stock portion will be subject to a collar such that

Family Dollar shareholders will receive 0.2484 Dollar Tree shares if the average Dollar Tree trading price during a

specified period preceding closing is equal to or greater than $59.98 and 0.3036 Dollar Tree shares if this average

trading price is less than or equal to $49.08. If the average trading price of Dollar Tree stock during this period

preceding closing is between $49.08 and $59.98, Family Dollar shareholders will receive a number of shares

between 0.2484 and 0.3036 equal to $14.90 in value.

Financing

$9.5 billion of committed financing

Anticipated financing consists of bank and bond financing

Accretion

In first financial year after close, expected to be low to mid single-digit percentage accretive to cash EPS

Approximately $300 million of annual run-rate synergies to be achieved by the third

year post

-closing

One-time costs to achieve

synergies of approximately $300 million

Leadership

Bob Sasser will serve as CEO of the combined company

Howard Levine (CEO of Family Dollar) will report to Bob Sasser

Estimated

Closing

By early 2015, subject to customary closing conditions, including Family Dollar shareholder vote and expiration or

termination of the applicable HSR waiting period

Transaction Provides Significant Value

to Family Dollar Shareholders

Transaction

deliver

significant

immediate

value

and

upside

Family

Dollar

shareholders

•

22.8% premium to Family Dollar’s closing share price of $60.66 as of

July 25, 2014

•

Represents a 5-year total shareholder return of approximately 160%

•

Upon closing, Family Dollar shareholders will own no more than 15.1% and no

less than 12.7% of outstanding common stock of Dollar Tree

Family Dollar will benefit from a number of strategic benefits in the combination

Under Dollar Tree leadership, opportunity to accelerate Family Dollar recent

initiatives

•

Deliver better value to customers

•

Improve operating performance

Represents shareholder return beginning July 25, 2009

Dollar Tree Overview

Store Count¹

US: 4,891

Canada: 189

Pricing Strategy

Dollar Tree: $1

Dollar Tree Canada: CAD$1.25

Deal$: Multi-price

Merchandise

Variety-discretionary, seasonal,

and consumables

Real Estate

Strategy

Mostly suburban

Store Size

8,000 –

10,000 sq ft

Target Customer

Demographic

Broad range of Middle America

Founded in 1986, IPO in 1995

Uniquely positioned in all of retail

“Everything’s $1”

is a true

differentiator in the eyes of the

customer

WOW the customer

Fast, full, fun and friendly

Incredible values

Thrill of the “hunt”

Total number of stores for Dollar Tree as of last quarter-end (May 3, 2014)

Store Count¹

US: 8,246

Pricing Strategy

Multi-price

Merchandise

Primarily consumables

and household products

Real Estate

Strategy

Urban and rural

Store Size

7,500 –

9,500 sq ft

Target Customer

Demographic

Low to lower-middle income

Family Dollar Overview

Founded in 1959, IPO in 1970

Value for everyday items

Most items priced below $10

with ~13% of sales at $1 or less

Great values and convenient

shopping experience

National brands at incredible

savingss

“Your neighborhood discount

store”

Total number of stores for Family Dollar as of last quarter-end (May 31, 2014)

The New Dollar Tree

Creates leading discount retailer in North America

$10,378mm

$18,353mm

$815mm

$1,998mm

7.9%

10.9%

LTM financials and store count for Dollar Tree as of May 3, 2014 and Family Dollar as of May 31, 2014. Figures exclude synergies or integration costs

59.5mm sq. ft

103.5mm sq. ft

North

American

footprint

LTM

revenue

LTM

EBITDA

margin

$7,975mm

$1,183mm

14.8%

Total selling

area

44.0mm sq. ft

Formats

•

US:

4,891

•

Canada:

189

•

Total:

5,080

•

US:

8,246

•

US:

13,137

•

Canada:

189

•

Total:

13,326

•

Dollar Tree (4,673)

•

Deals (218)

•

Dollar Tree Canada (189)

•

Dollar Tree Direct

•

Family Dollar (8,246)

•

Family Dollar (8,246)

•

Dollar Tree (4,673)

•

Deals (218)

•

Dollar Tree Canada (189)

•

Dollar Tree Direct

Pre-Acquisition

Post-Acquisition

LTM

EBITDA

Dollar Tree will be better positioned to provide our customers with merchandise they want

and need given a broader pricing strategy

Broadens Dollar Tree’s fixed-price point platform to offer more variety, more value and serve

more customers

The complementary multi-price point platform allows for growth in higher-cost-of-operation

urban areas

Complementary Business Models Across

Fixed-

and Multi-Price Points

Fixed-price

point

96%

Multi-price point

Fixed-price

point

36%

Multi

price-point

64%

Post-Acquisition

Pre-Acquisition

Breakdown by number of stores

Note: Store count for Dollar Tree as of May 3, 2014 and Family Dollar as of May 31, 2014

Targets Broader Range of Customers & Geographies

Dollar Tree and Family Dollar serve different customer segments

•

Dollar Tree targets a broad range of “Middle America”

consumers

•

Family Dollar targets “Low-

to Lower-Household Income”

consumers

Transaction will enable the combined company to deliver a broader assortment of

merchandise to a wider spectrum of consumers at low prices

Dollar Tree’s and Family Dollar’s complementary value propositions will enable combined

company to expand its customer base and reach

Complementary Merchandise Expertise

Merchandise

mix

Private label

as % of sales

35%

–

40%

Based on last financial year sales breakdown for Dollar Tree as of February 1, 2014 and Family Dollar as of August 31, 2013

26%

Significant opportunity to build on our legacy strengths in variety and consumables

Offer compelling assortments at prices that WOW our customers

Right products, right place, right time

Consumable

50%

Variety