Fueling the Future

C-Store Market Remains Fragmented with Significant Opportunity for Consolidation 15 U.S. Convenience Store Composition By Chain Size(1) • Strong track record of integrating acquisitions Fragmented market provides opportunity for low-risk growth • 70% of industry comprised of operators with 50 or fewer convenience stores (1) 10 GLOBAL 1-10 Stores 63% of Operators (95,906) 501+ Stores 21% of Operators (32,003) 201-500 Stores 4% of Operators (6,169) 51-200 Stores 6% of Operators (8,780) 70% of industry ≤ 50 store chains (1) National Association of Convenience Stores - 1H 2023 NACS/ NielsenIQ Convenience Industry Store Count 11-50 Stores 6% of Operators (9,204)

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