Arko Petroleum Corp. · NASDAQ:APC
Arko Petroleum — Investor Presentation (August 2026)
26 slides from Arko Petroleum's investor presentation, August 2026
Slide 1: Investor Presentation and Q2 Highlights
One of the Largest Wholesale Fuel Distributors by Gallons in North America Investor Presentation and Q2 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 Petroleum Corp.'s ("APC" or the "Company") e
Slide 3: Business Overview
Business Overview A look at APC’s scale, segments and investment highlights 3
Slide 4: 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 Segment Highlights APC distributes fuel to 3,489 sites across the U.S. through its three business segments W
Slide 5: One of the Largest Wholesale Fuel Distributors in North America
One of the Largest Wholesale Fuel Distributors in North America APC has a strong history of accretive growth and a broad presence, with 3,489 sites spanning more than 30 states, making us one of the largest fuel distributors by gallons in North America Map of APC’s Wholesale, ARKO Retail and Fleet F
Slide 6: Public Listing of APC
Public Listing of APC APC Successfully Listed on Nasdaq on February 12, 2026 Key Highlights Public Listing Date February 12, 2026 Offer Price $18.00 per share Shares Listed 12.6M Shares of Class A Common Stock, representing 26.4% of the economic interest in APC (1) Primary Gross Proceeds $226 millio
Slide 7: APC Investment Highlights
APC Investment Highlights 01 Tenured Supplier Relationships and Long-Term Fee-Based Distribution Contracts 02 Stable Cash Flow Profile with High Relative Cash Flow Conversion Well-Positioned to Return Capital to Stockholders While Pursuing a Conservatively 03 ARKO Capitalized Balance Sheet Petroleum
Slide 8: Long-Term, Fee-Based Contracts Provide a Foundation for Cash Flow Stability
Long-Term, Fee-Based Contracts Provide a Foundation for Cash Flow Stability Majority of gallons (~85%) distributed are sold under long-term, cost-plus contracts Fuel Distribution Model Wholesale (Cost-Plus & Consignment) Fleet Fueling GPMP (Cost-Plus) • Fixed-fee mark-up (1,801 sites) and gross • Su
Slide 9: Leading Cash Flow Conversion Profile and Strong Balance Sheet
Leading Cash Flow Conversion Profile and Strong Balance Sheet June 30, 2026 Cash Flow Conversion Profile Asset-light nature of Low relative leverage target 70% targeted discretionary businesses results in low (stockholders are primary cash flow (1) as a percentage maintenance capital recipients of c
Slide 10: Attractive Industry Dynamics Backstop Strong Growth Outlook
Attractive Industry Dynamics Backstop Strong Growth Outlook The U.S. fuels distribution market remains highly fragmented, providing 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 i
Slide 11: Attractive Fleet Fueling Segment
Attractive Fleet Fueling Segment Leading Cardlock Operator With Strong Presence on the East Coast and in the Southwestern U.S. Overview Strong Performance After Quarles Acquisition • The Fleet Fueling segment was added in July 2022 as part of the acquisition of • Acquisition included 121 proprietary
Slide 12: GPMP Segment Leverages its Relationship with ARKO
GPMP Segment Leverages its Relationship with ARKO • GPMP Segment supplies fuel to substantially all of the ARKO Retail Sites at our cost of fuel plus a fixed fee • GPMP charges a fixed fee to certain of the ARKO Retail Sites that are not supplied by APC • The sales to ARKO Retail Sites, similar to o
Slide 13: Robust Organic and Inorganic Long-Term Growth Outlook
Robust Organic and Inorganic Long-Term 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 Reta
Slide 14: APC Financial Overview
APC Financial Overview Sites and Gallons Distributed MM (2022 –2025)(1) Fuel Contribution $MM(1) Wholesale Fleet Fueling GPMP Other Sites Wholesale Fleet Fueling GPMP Illustrative Impact of GPMP Fee Increase (2) Other 3,622 3,558 3,489 $220 $216 3,214 $217 $188 2,183 2,132 $11 $10 $9 1,967 2,006 $10
Slide 15: Q2 Results
APC ARKO PETROLEUM CORP. Q2 Results a August 6, 2026
Slide 16: Q2 2026 Earnings Highlights
Q2 2026 EARNINGS HIGHLIGHTS (compared to Q2 2025) New Cardlocks 2.2x $724M +7.1% +1.6% +4.9% ❖ 3 new Cardlocks opened YTD ❖ 17 in various stages of WHOLESALE FLEET FUELING GPMP development NET LEVERAGE(2) AVAILABLE OPERATING PROFIT OPERATING PROFIT OPERATING PROFIT(1) LIQUIDITY(3) ADJUSTED EBITDA (4
Slide 17: Material Acquisition Announcement: U.S. Petroleum Partners
One of the Largest Wholesale Fuel Distributors by Gallons in North America Material Acquisition Announcement: The Business of U.S. Petroleum Partners, LLC Strategic Acquisition Expected to Expand Scale, Enhance Vertical Integration and Support Long-Term Cash Flow Growth A u g u s t 6 , 2 0 2 6 17 AP
Slide 18: APC Announces Agreement to Acquire the Business of U.S. Petroleum Partners
(1) APC Announces Agreement to Acquire the Business of U.S. Petroleum Partners (USPP) U.S. 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
Slide 19: Appendix
ARKO PETROLEUM CORP. REE A re Appendix
Slide 20: Q2 '26 Reconciliation to non-GAAP Figures
Q2 ’26 Reconciliation to non-GAAP Figures 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 $ 324,204 $ 526,572 Ratio of
Slide 21: Material Acquisition Announcement: U.S. Petroleum Partners
One of the Largest Wholesale Fuel Distributors by Gallons in North America Material Acquisition Announcement: The Business of U.S. Petroleum Partners, LLC Strategic Acquisition Expected to Expand Scale, Enhance Vertical Integration and Support Long-Term Cash Flow Growth A u g u s t 6 , 2 0 2 6 21 AP
Slide 22: Transaction Overview
Transaction Overview APC has announced an agreement to acquire the business of U.S. Petroleum Partners, LLC (“USPP”) • Consideration at closing consisting of $205 million in cash plus the cost of inventory. Additionally, $30 million Class A common stock will be issued at Transaction closing, held in
Slide 23: USPP Business Overview
USPP Business Overview U.S. Petroleum Partners Wholesale Distribution Business Overview • Wholesale Locations: Approximately 280 million gallons distributed annually across more than 400 branded and Vertically-integrated fuel distribution business unbranded wholesale locations headquartered in the G
Slide 24: Strategic Rationale
Strategic Rationale(1) 01 Will Meaningfully Expand Platform and Increase Scale ✓ Add approximately 280 million gallons of annual fuel volume, including a substantial base of more than 400 wholesale locations with long-term supply agreements, supported by two strategically located terminals and an in
Slide 25: Transaction Expected to Enhance Scale, Diversification and Financial Strength
Transaction Expected to Enhance Scale, Diversification and Financial Strength (1) Enhances Expanded Increased Strong Balance Discretionary Cash Footprint Scale Sheet Flow 2,500+ 2.2+ Billion 3.0x – 3.5x ~$30 Million Expected Pro Forma Expected Pro Forma Expected Pro Forma Expected Additional Wholesa
Slide 26: Thank You!
. Thank You! 26