Slide 1: Investor Presentation and Q2 2026 Highlights
One of the Largest Operators of Convenience Stores and Wholesale and Fleet Distributors in the U.S. A Fortune 1000® Company Investor Presentation and Q2 2026 Highlights August 2026 1
Slide 2: Safe Harbor Statement
Safe Harbor Statement FORWARD-LOOKING STATEMENTS This document includes certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may address, among other things, ARKO Corp.'s (the "Company") expected financial a
Slide 3: ARKO Corp. – One of the Largest Operators of C-Stores and Wholesale and Fleet Fuel Distributors
ARKO Corp. (“ARKO”) – One of the Largest Operators of C- Stores and Wholesale and Fleet Fuel Distributors in the U.S. As of Dec 31, 2025 ~$1.5 Billion ~3,500 Cumulative Adjusted EBITDA from 2020 through December 31, 2025 Total Sites ~2.1 Billion More Than ~10,000 ~2.4 Million Fuel Gallons Sold in 20
Slide 4: ARKO Corp. – Scaled, Complementary Operations
ARKO Corp. – Scaled, Complementary Operations Complementary segments provide scale, earnings diversification and durable cash flows MAP OF COMBINED OPERATIONS (December 31, 2025) $249M 2025 Adjusted EBITDA RETAIL SEGMENT WHOLESALE, FLEET FUELING AND GPMP (2) (Nasdaq: APC) 1,118 3,489 Company Operate
Slide 5: ARKO Corp.'s Core Strengths
ARKO Corp.’s One of the Largest Operators of Convenience Stores in the U.S. with Significant Core Strengths 01 Community Brand Equity One of the Largest Wholesale and Fleet Fuel Distributors in North America with 02 Historically Stable Cash Flows through ARKO Petroleum Corp. (“APC”) 03 Multi-Year Tr
Slide 6: ARKO Retail
ARKO A Family of Community Brands ARKO Retail GPM
Slide 7: ARKO's Retail Footprint Across 27 States
ARKO’S RETAIL FOOTPRINT ACROSS 27 STATES PORTFOLIO KEY STATISTICS (for the twelve months ended December 31, 2025 and as of December 31, 2025, as applicable) GROSS PROFIT MIX 6% 1,118 923M $268M Company Operated Retail Operating Fuel Gallons Sold Retail Sites Income(1) 41% 53% 59% / 41% $1.5B Merchan
Slide 8: Local Brand Equity and Density in Stronghold Markets
Local Brand Equity and Density in Stronghold Markets L E A D IN G B A N N E R S W I T H 5 0 + Y E A R H I S T O R I E S I N T H E I R C O M M U N I T I E S ROI Focused Retail Growth ✓ Differentiated Strategy Preserves Est. 1970 Est. 1980 Est. 1966 Est. 1977 Established Community Brand 55+ Years 45+
Slide 9: Highly Fragmented Convenience Store Industry
Highly Fragmented Convenience Store Industry 151,975 convenience stores operate in the United States(1) 2025 Split of Stores Count B y O p e r a t o r S i z e (1) • ~63% (96k) of stores are operated by operators with 10 or fewer stores ARKO competes market-by-market and store-by-store, using scale t
Slide 10: Multi-Year Transformation Plan
Multi-Year Segmentation of Retail Store Portfolio, Retaining Stores in Strategic Markets While 01 Transformation Transitioning Certain Stores to the Wholesale Segment Plan 02 Retained-Store Targeted Reinvestment to Fuel Organic Growth: Enhanced Food + Refresh / Remodel / Rebuild High-quality retail
Slide 11: Dealerization Strategy Driving Higher-Quality Retail Earnings
Dealerization Strategy Has Been Driving Higher-Quality Retail Earnings While Expanding APC's Wholesale Platform Stores identified for dealerization do not strategically fit within our core future footprint and their contribution to the Retail Segment is immaterial DEALERIZATION RESULTS • Retained St
Slide 12: Marketing Strategy Focused on Driving Traffic, Expanding Margin
Marketing Strategy Focused on Driving Traffic, Expanding Margin and Strengthening the Retail Platform Remodels and NTIs • Heavy touch remodels • Bridge remodels • Turf Protection Remodels Food Service Development • Continue to develop Optimize Cold menus at various delis Vault Execution fas REWARDS®
Slide 13: Intently Focused on Expanding Margins
MERCHANDISE MARGIN Intently Focused + ~430 bps on Expanding 34.7% Margins – 32.8% 33.7% 33.9% With More 31.8% Opportunity 30.4% Ahead 2022 2023 2024 2025 Q1 '26 Q2 '26 RETAIL FUEL MARGIN +7.2 CPG 47.9¢ 48.6¢ 41.4¢ 42.8¢ 38.8¢ 39.6¢ 2022 2023 2024 2025 Q1 '26 Q2 '26 STRONG OPPORTUNITY TO FURTHER EXPA
Slide 14: Remodels & New-To-Industry Stores
Remodels & New-To-Industry Stores Repeatable format leveraging enhanced foodservice and merchandising to drive traffic, basket size and profitability of Retained Stores TARGETED REPEATABLE MEASURED Invest capital where Consumer focused design Data-Driven Expansion returns are most attractive and cus
Slide 15: Remodel & NTI 2026 Progress & Early Results
Remodel & NTI 2026 Progress & Early Results Early results support continued investment in remodels and NTIs as high-return growth initiatives REMODELS NEW-TO-INDUSTRY STORES • 4 remodels completed in IH 2026, all featuring new foodservice offerings • 3 NTIs completed in 1H 2026, all featuring new fo
Slide 16: ARKO Petroleum Corp.
ARKO ARKO Petroleum Corp. ARKO PETROLEUM CORP.
Slide 17: Public Listing of APC Creates Value for ARKO
Public Listing of APC Creates Value for ARKO Transaction Highlights: • On Feb. 12, 2026, APC publicly listed on NASDAQ − APC includes the operations of ARKO’s wholesale, fleet fueling and GPMP segments − Responsible for the wholesale distribution of motor fuels to substantially all of ARKO’s retail
Slide 18: Introduction to APC
Introduction to APC (for the 12 Months Ended Dec 31, 2025 and as of Dec 31, 2025, as applicable) APC is one of the largest wholesale fuel distributors by gallons in North America APC OVERVIEW APC distributes fuel to 3,489 sites across the WHOLESALE SEGMENT FLEET FUELING SEGMENT GPMP SEGMENT • Suppli
Slide 19: APC Investment Highlights
APC Investment Highlights 1 Tenured Supplier Relationships and Long-Term Fee- Based Distribution Contracts 2 Stable Cash Flow Profile With High Relative Cash Flow Conversion . Well-Positioned to Return Capital to Stockholders While 3 Pursuing a Conservatively Capitalized Balance Sheet Strong Track R
Slide 20: Long-Term, Fee-Based Contracts Provide a Foundation for Cash Flow
Long-Term, Fee-Based FUEL DISTRIBUTION MODEL Contracts Provide a W H O L E S A L E ( C O S T - P L US & C O N S I G NME N T ) Foundation for Cash Flow • Fixed-fee mark-up (1,801 sites) and gross profit share under consignment (298 sites) • Typical 10-year initial contract terms Stability • Embedded
Slide 21: APC's Leading Cash Flow Conversion Profile and Strong Balance Sheet
APC’s Leading Cash Flow Conversion Profile and Strong Balance Sheet CASH FLOW CONVERSION PROFILE Asset-light nature of Low relative leverage target 70% targeted discretionary cash businesses results in low (stockholders primary recipients flow(1) as a percentage of maintenance capital of cash flow)
Slide 22: Attractive Industry Dynamics Backstop Strong Growth Outlook
Attractive Industry Dynamics Backstop Strong Growth Outlook The U.S. fuels distribution market remains highly fragmented, leaving runway for APC to continue its acquisitive growth strategy • The U.S. fuels distribution market supplied approximately 196 billion gallons of gasoline and diesel fuel in
Slide 23: Attractive Fleet Fueling Segment
Attractive Fleet Fueling Segment Leading Cardlock Operator With Strong Presence on the East Coast and Southwestern U.S. OVERVIEW S T R O N G P E R F O R M A N C E A F T E R Q U A R L E S A C Q U I S I T I O N (1) • The Fleet Fueling segment was added in July 2022 as part of the acquisition of • Acqu
Slide 24: APC's Robust Organic and Inorganic Growth Outlook
APC’s Robust Organic and Inorganic Growth Outlook Ample Liquidity to Support Disciplined Growth Strategy and Consistent Dividend Growth DIVERSIFIED GROWTH STRATEGY APC has grown total gallons distributed by a compounded annual growth rate of ~11% between 2020 and 2025 FLEET FUELING NTI ARKO RETAIL N
Slide 25: APC to Acquire Business of U.S. Petroleum Partners (USPP)
APC to Acquire Business of U.S. Petroleum Partners (USPP)(1) US Petroleum Partners is a vertically-integrated fuel distribution business ~280M +~14%(2) >400 ~$30M(3) GALLONS OF INCREASE IN APC WHOLESALE EXPECTED ANNUAL ANNUAL FUEL VOLUME TOTAL GALLONS DISTRIBUTED ANNUALLY LOCATIONS ADDED ADJUSTED EB
Slide 26: Q2 2026 Highlights
ARKO A Family of Community Brands Q2 2026 Highlights
Slide 27: ARKO: Q2 2026 Earnings Highlights
ARKO: Q2026 Earnings Highlights Compared to Q2 2025 +0.5% +110 bps $72M SAME STORE RETAIL FUEL CONTRIBUTION(1) RETAIL SEGMENT MERCHANDISE MARGIN ADJUSTED EBITDA (2) -0.9% +100K Members SAME STORE MERCH SALES (EXCL. CIGARETTES) 2.6M ENROLLED LOYALTY MEMBERS(3) 3 Completed YTD 4 Completed YTD 3 Comple
Slide 28: APC: Q2 2026 Earnings Highlights
APC: Q2 2026 Earnings Highlights Compared to Q2 2025 +7.1% +1.6% +4.9% WHOLESALE SEGMENT OPERATING INCOME(1) FLEET FUELING SEGMENT OPERATING INCOME(1) GPMP SEGMENT OPERATING INCOME(2) +4% +12% $724M DISCRETIONARY CASH FLOW (3) OF $27.1M (Q2’25 ADJUSTED EBITDA (3) of $39.8M (Q2’25: $38.3M) AVAILABLE
Slide 29: Appendix
ARKO A Family of Community Brands Appendix
Slide 30: Q2 '26 Reconciliation to non-GAAP Figures: ARKO Corp.
Q2 ’26 - Reconciliation to non-GAAP Figures: ARKO Corp. Reconciliation of Net Income to EBITDA and Adjusted EBITDA For the Three Months For the Six Months Ended June 30, Ended June 30, 2026 2025 2026 2025 (in thousands) Net income, including net income attributable to non-controlling interests $ 9,4
Slide 31: Q2 '26 Reconciliation to non-GAAP Figures: ARKO Petroleum Corp.
Q2 ’26 - Reconciliation to non-GAAP Figures: ARKO Petroleum Corp. As of June 30, As of December 31, 2026 2025 (in thousands, except ratios) Total debt, net $ 184,710 $ 392,030 Financing leases 98,845 96,733 Financial liabilities 55,212 53,365 Cash and cash equivalents (14,563) (15,556) Net Debt $ 32
Slide 32: Safe Harbor Statement - ARKO Petroleum Corp.
Safe Harbor Statement - ARKO PETROLEUM CORP. FORWARD-LOOKING STATEMENTS This document includes certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may address, among other things, ARKO Petroleum Corp.'s ("A
Slide 33: Thank You!
Thank You! 33