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Here are 1-3 brief analogies to describe Arko Petroleum (APC):

• Like Casey's General Stores but with a more national footprint.
• 7-Eleven but also a major wholesale fuel distributor.
• Murphy USA combined with a large-scale fuel distribution network.

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• Crude Oil Production: Extraction and sale of raw crude oil from conventional and unconventional reservoirs.
• Natural Gas Production: Extraction and sale of natural gas for energy generation, industrial use, and as a petrochemical feedstock.
• Refined Fuels: Processing of crude oil into various fuels, including gasoline, diesel, jet fuel, and heating oil, for transportation and other energy needs.
• Lubricants: Manufacturing and distribution of lubricating oils and greases for automotive, industrial, and marine applications.
• Petrochemicals: Production of chemical products derived from petroleum and natural gas, such as plastics, synthetic fibers, and industrial chemicals.

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Arko Petroleum (symbol: APC) is not a recognized public company in standard financial databases, suggesting it may be a hypothetical or fictitious entity. Therefore, specific, real-world major customers cannot be identified.

However, assuming Arko Petroleum operates as a typical major petroleum company, its primary sales would be business-to-business (B2B) rather than directly to individuals. Major customers in the petroleum industry generally fall into the following categories:

• Other Energy Companies: These include major integrated oil companies, independent refiners, and large-scale distributors or marketers of crude oil, natural gas, and refined products (such as gasoline, diesel, and jet fuel). These companies purchase commodities in bulk for further processing, distribution, or sale through their own networks.
• Industrial Consumers: This category encompasses large industrial entities that rely on petroleum products or natural gas as primary feedstocks or energy sources.
  • Chemical and Petrochemical Manufacturers: Companies that convert crude oil derivatives (like naphtha) and natural gas liquids (like ethane, propane) into plastics, fertilizers, and a wide array of other chemical products.
  • Power Generation Utilities: Electricity providers that use natural gas or fuel oil to generate power.
  • Heavy Industries: Sectors such as steel, cement, and mining that require substantial volumes of fuel for their operations.
• Large-Scale Transportation Companies: Businesses in the commercial transportation sector that are major consumers of fuels.
  • Airlines: Global and regional carriers that purchase vast quantities of jet fuel.
  • Shipping Companies: International and domestic maritime operators requiring bunker fuel.
  • Large Fleet Operators: Such as major trucking companies, public transit authorities, and railroad companies that purchase diesel or natural gas in bulk.

As Arko Petroleum (APC) is not a real-world public company, specific names and stock symbols of its customers cannot be provided.

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Arie Kotler, President and Chief Executive Officer

Arie Kotler has served as the Chairman and Chief Executive Officer of ARKO Corp. since December 22, 2020, and as President since January 15, 2021. He also serves as the President and Chief Executive Officer of ARKO Petroleum Corp. Mr. Kotler founded GPM Investments in 2003, later selling the business and reacquiring it in 2011. Under his leadership, GPM expanded significantly through numerous acquisitions, growing from 200 convenience store sites in 2013 to over 1,500 in 2023. ARKO Corp. was formed in 2020 through a merger with Haymaker Acquisition Corp. II. Mr. Kotler previously served as Chairman and Chief Executive Officer of Arko Holdings, Ltd., a publicly traded company on the Tel Aviv Stock Exchange that was GPM's controlling owner.

Jordan Mann, Chief Financial Officer

Jordan Mann is the Chief Financial Officer of ARKO Petroleum Corp. He was appointed Interim Chief Financial Officer of ARKO Corp. effective October 10, 2025, succeeding Robb Giammatteo. Before joining ARKO in 2023, Mr. Mann held senior positions in investment banking, including serving as an Executive Director at Morgan Stanley and a Director at Credit Suisse. At ARKO Corp., he has been responsible for corporate strategy, capital markets, and investor relations. Mr. Mann holds a Bachelor of Science in Economics from Duke University and a Juris Doctor from Harvard Law School.

Maury Bricks, General Counsel and Secretary

Maury Bricks serves as the General Counsel and Secretary of ARKO Corp. and ARKO Petroleum Corp. since the merger transaction on December 22, 2020. He previously held the role of General Counsel and Secretary for GPM since January 2013. Prior to joining GPM, Mr. Bricks was an attorney with Greenberg Traurig, LLP from 2005 to 2013. Before his time at Greenberg Traurig, LLP, he worked in finance for the pipeline and retail natural gas divisions of Shell Oil Company. He is also a CFA charterholder.

Irit Aviram, Executive Vice President, Office of the Chairman and CEO

Irit Aviram was appointed Executive Vice President, Office of the Chairman and CEO of ARKO Corp. in January 2022. She previously served as VP and General Counsel and Secretary of Arko Holdings Ltd. from October 2015 and also from June 2006 to September 2009.

Michael Nuchamovitz, Executive Vice President, Business Development and M&A

Michael Nuchamovitz was appointed as ARKO Corp.'s Executive Vice President, Business Development and M&A in January 2022. He has served as Executive Vice President of GPM Investments, LLC since January 2012 and as a member of its Board of Managers since July 2012. Before joining GPM Investments, LLC, Mr. Nuchamovitz served as Chief Executive Officer of Arkos USA LLC, an affiliate of Arko Holdings, Ltd., from May 2010 to August 2014, and as the Executive Vice President and Chief Financial Officer of Tarragon Corporation from November 2008 to April 2010. His experience includes M&A, strategic planning, and growing enterprise value.

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The key risks to Arko Petroleum (symbol: APC) primarily revolve around environmental regulations, evolving market dynamics due to electric vehicle adoption, and exposure to international trade tariffs.

1. Environmental Regulations and Climate Change Initiatives: Arko Petroleum faces significant risks from the adoption of new environmental laws and regulations aimed at addressing global climate change. These regulations could include limits on carbon emissions and more stringent requirements for the exploration, drilling, and transportation of crude oil and petroleum products. Widespread implementation of such laws and regulations could lead to a substantial increase in the cost of petroleum-based fuels, which, in turn, may result in lower demand for road transportation fuel.
2. Increasing Electric Vehicle (EV) Adoption: The ongoing trend of increasing electric vehicle adoption presents a long-term risk to the demand for Arko Petroleum's core products. While current fossil fuel demand is noted as resilient, the projected growth of EV market share, such as the estimate of EVs comprising 26% of vehicles on the road by 2035, indicates a future reduction in the demand for gasoline and diesel.
3. Exposure to International Trade Tariffs: Arko Petroleum has a Tariff Resilience Score of 0, according to GuruFocus. This score indicates that the company may have significant exposure to international trade tariffs. Factors contributing to this risk include global supply chain dependencies, the balance of manufacturing locations versus sales markets, and the company's import/export balance and revenue percentage.

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The rapid global acceleration in the adoption of electric vehicles (EVs) and renewable energy sources (such as solar and wind power) poses a clear emerging threat to Arko Petroleum. This trend is driven by technological advancements, decreasing costs, government incentives, and growing environmental concerns, leading to a projected decline in demand for fossil fuels, particularly in the transportation sector which is a major consumer of petroleum products. Evidence includes the increasing market share of EV manufacturers and widespread national commitments to phase out internal combustion engine vehicles.

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Arko Petroleum (symbol: APC) operates primarily in three segments: wholesale fuel distribution, fleet fueling, and supplying fuel to its own and third-party retail sites. The addressable markets for these services are within the United States.

• The addressable market for U.S. gasoline and diesel supply was 194.8 billion gallons in 2024.
• The market size for Gasoline & Petroleum Wholesaling in the U.S. was estimated at $664.1 billion in 2024 and is projected to reach $664.7 billion in 2025.
• For their services related to supplying fuel to retail locations, the U.S. convenience store market, which includes fuel sales, was approximately $159.93 billion in 2024 and is estimated to grow to $287.07 billion by 2033. Additionally, total in-store convenience store sales in the U.S. are estimated at $297 billion in 2024. Convenience stores in the U.S. sell approximately 80% of all fuel, accounting for $491.5 billion in sales as of 2013. As of 2024, 121,852 convenience stores in the U.S. sold motor fuels.

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Expected Drivers of Future Revenue Growth for Arko Petroleum (APC)

• Expansion of Fleet Fueling Network: Arko Petroleum, through its fleet fueling segment, operates proprietary and third-party cardlock fueling stations. The parent company, ARKO Corp., has indicated plans for the expansion of its network through new-to-industry (NTI) locations and additional cardlock sites in 2026, which are expected to directly increase fuel sales volume for Arko Petroleum.
• Growth in Wholesale Segment through Dealerization and Volume Expansion: Arko Petroleum's wholesale segment is responsible for supplying fuel to third-party dealer gas stations and ARKO retail sites under long-term contracts. The ongoing dealerization program by ARKO Corp., which converts retail stores to dealer-operated sites, is a key driver for expanding Arko Petroleum's wholesale fuel distribution business. This initiative, coupled with a demonstrated 7.5% volume growth in the wholesale segment in Q3 2025, is expected to increase the gallons of fuel distributed and, consequently, revenue.
• Optimization of Fuel Margins: Arko Petroleum's ability to maintain or improve fuel margins per gallon, particularly within its fleet fueling segment, is a significant driver of profitable revenue growth. For example, the fuel margin for the fleet fueling segment increased to 49 cents per gallon in Q2 2025, up from 45.9 cents in the prior year period. This optimization contributes positively to overall revenue and profitability.

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Share Issuance

• ARKO Petroleum Corp. (APC) has filed for an initial public offering (IPO) to raise up to $100 million by listing Class A common stock on the Nasdaq under the symbol "APC".
• The company was established in 2022 and encompasses ARKO Corp.'s wholesale, fleet fueling, and GPMP segments.

Capital Expenditures

• ARKO Petroleum's operating model is designed to be cost- and capital-efficient, with the addition of wholesale and cardlock sites not expected to require substantial incremental corporate overhead.