ARAMARK Goldman Sachs Global Consumer and Retail Conference

All right. Good morning, everyone. Thanks so much for being here. I am incredibly excited for this next session of our Goldman Sachs Global Consumer and Retail Conference with Aramark, which has so much going on. I feel like we are going to pack so much into these next 35 minutes. My name is Lizzie Dove. I cover gaming, leisure, and lodging here at Goldman, and it is my pleasure to have here Jim Tarangelo, Executive Vice President and CFO of Aramark, Pat Liebler, CEO of Aramark Nexus, and we have Felise Kissell here in the audience too, Head of Investor Relations and Corporate Development. Welcome, Jim and Pat. Appreciate it.

Thanks so much for being here. Pat, I think this is your debut with Wall Street investors. So very excited to hear all of what you have to say about Aramark Nexus, which we will get into very shortly. Maybe just to start off, if we just step back and see, Aramark today feels like broadly is growing faster, retaining clients at a higher rate, margins are firing on all cylinders, a lot of new contracts that you have been winning, and that is before we even talk about Aramark Nexus, which we absolutely are going to talk about. What do you think has structurally changed over the last few years when it comes to the core business, and how sustainable is that higher growth algorithm?

Definitely. Just on the core business as it pertains to the U.S., it feels like things have really been firing on all cylinders this year, to use that phrase again, and really on track this year with momentum really across the board. What are you seeing overall in terms of demand? Are there particular sub-segments or industries that have been driving that, or how would you categorize the U.S. overall this year?

Yeah. Makes sense. So let's maybe move on to Nexus, which has certainly been highly topical over the last 6 months, to say the least. The speed of progress has been astounding since you've only announced it just a few months ago, and already you have multiple sites in mobilization and planned and another announcement today, which we'll get into in a little bit. Pat, maybe you can start with the basics for us. Firstly, for those not familiar, maybe you could take a second just to give a little bit of your history with the company, and then for anyone that's not familiar, can you explain what exactly Aramark does for a data center site or a co-locator, and why is a hospitality company the right partner for these types of segments?

Yeah. So, I've been with Aramark now 20 years. Spent the last 5 as President and CEO of Aramark Refreshments and was given the opportunity to lead Nexus about 6 months ago. It's been in the works about a year, that we've been talking about what this is going to look like. But we're excited about changing the industry and what's happening. So you think about what typically was known in the oil and gas business as land camp or man camps. We really have intended and have begun to bring an elevated service when it comes to hospitality. So when you think about on-trend food concepts and hotel-like amenities, activities similar to what you see at colleges and universities with intramural type sports, wellness centers, fitness centers, will be golf courses.