O'Reilly Automotive, Inc. Analyst Day 2026

Good morning, everyone. Welcome to the 2026 O’Reilly Analyst Day. For those that I do not know, my name is Leslie Skorick, Senior Director of Tax and Investor Relations. It's great to see everybody. It's been wonderful getting to know you over the last couple of years, and we appreciate your continued interest in our company. I will start the day with our forward-looking statement, which you can see on the presentation and on the webcast. I'm not going to read this, but we do claim the protections under the Private Securities Litigation Reform Act of 1995. All information provided today will be in relation to our most recent public earnings release, which was June 30, 2026. We will not provide any new outlook or updated guidance.

This is a chance for us to talk to you about our company and provide opportunities for you all to ask our management team questions and to see our facilities here in Atlanta. The schedule for today will be about an hour of prepared remarks. After that, we will do question and answers. Eric and I will walk the room, so just raise your hand as you have a question. At 10:00 A.M., we will end the webcast. When we end the webcast, we're going to do just a really brief overview of the DC tour and the rest of the day. We're going to break into two groups this year, just so everybody can hear a little better on the DC tour and stay a little closer.

One group will go to the store that's attached to the DC, the other group will go into the distribution center, and then we will swap. After the tours, probably around noon, we'll reconvene in here for lunch. At 1:00 P.M., the shuttle buses will leave for the second store, where management will give an additional tour. At 2:00 P.M., the shuttle buses will leave for the airport. In order to keep us moving, I just want to briefly talk about a couple aspects of our culture. These events are a great way to showcase O’Reilly teamwork and dedication. The teams at this DC, in this store region, and in our corporate office have all put in a tremendous amount of extra time to allow us the privilege to be here today.

This event is very outside of the jobs of these teams that perform each and every day to ensure the continued success of O’Reilly Auto Parts, but all have stepped up to ensure that you walk away knowing what a special company we have here. That support makes all the difference and will be on display as you interact with the teams throughout the day. I'm now going to hand the presentation over to Brad.

Okay. Good morning, everyone. Thank you so much, Leslie. A lot of you have heard us say this over the years, but we start every meeting at O’Reilly with a culture statement. We never allow ourselves to open up a meeting, a session, a huddle without talking about the company culture. We know a lot of companies talk about culture, but I think for a lot of you that have studied us for a long time and been involved with our story, you realize that sometimes there's something a little bit different about O’Reilly. I assure you, before you ever get to differentiators of our distribution centers, our hub stores, superior product availability, proprietary brands, our focus on a 50/50 dual market strategy, way before that is the foundation of the company culture that our founders, back 70 years ago almost this year, founded.

From 1957, the O’Reilly family, our original 13 team members, they founded that culture. It wasn't until 1998 that we actually documented the culture. A lot of you that have known our story for a long time know that we acquired Hi/LO Auto Supply back in 1998, doubled the size of the company, went from 200 stores to almost 400 overnight, and that was a pivotal point in my career a couple of years after I started. We had somebody, a friend outside the company, that said to the O’Reilly family and the management team, "You know what? Y'all have something special here. You have something very special. As you go on to double the size of the company, you better document it.

You better really think about the foundation and the culture values and all the things that got you from basically being a warehouse distributor in the '50s, '60s, and '70s on into 1978 and the '80s when we defined our dual market strategy. You better define it." That was great advice to us, and that's actually the year that we really documented the company culture. But I always remind everybody that our culture didn't start in 1998. It started in 1957, and we're going to talk a lot about that today. There's a lot of components of the O’Reilly culture. But it is missed sometimes, I believe, especially with the investment community at times, how important our promote from within philosophy is to what we do every day. This is a pretty blue-collar industry. You think about men and women that grew up in parts stores.

They grew up turning wrenches, turning bays, getting grease under their fingernails, working the parts counter, helping professional shops get a car off the rack, working with professional technicians, working with service providers, service writers, shop owners, and obviously hardcore DIY customers. When you grow up like I did and so many of us did in the auto parts business, you really want somebody at the district manager level, the regional director level, the division vice president level, that has really stood in your shoes. It's missed sometimes, I feel, how strong our promote from within philosophy and promote from within culture really is. I'm sure a lot of people talk about that, but you think about our company. I started 30 years ago last week. I had the privilege of celebrating my 30th anniversary with the company last week.

When I look back on my career, you think about a young man that started 17 years old, sweeping floors and stocking shelves when the company had 180 stores back in 1996, and had the opportunities that I've had, it's just an incredible, really an American success story. It's the American dream. I think it's missed sometimes that when the O'Reilly family took the company public back in 1993, the easiest thing for the O'Reilly family to do would've been to hand the business off to a fourth and fifth generation. That would've been what a lot of companies have done. A lot of the WDs, the independents, the two-steppers that still exist today are still family businesses. A lot of people don't realize the O'Reilly family had a vision. They had a vision for all of us, and they had a vision for the company.

We're going to take the company public, we're going to tap into capital markets, we're going to take this unbelievable dual market strategy company, superior product availability, professional parts people, and we're going to let our kids. We're going to actually discourage our kids from coming in the business. We're going to let them go to school, go do what you want to do, because they believed, and they would tell you today, they love their kids very much, but they would tell you today that they had a belief that if you handed the business off to a fourth and fifth generation, at some point, you have a generation that takes the company for granted and doesn't really know what sweat equity went in in the first few generations of the company.

They wanted to tap into capital markets, and they wanted to do it virtually 100% promote from within. They had a vision for all of us that you will meet in this room today, so many of us that grew up with this company. For that, we just have an unbelievable amount of ownership in this company, and not just for 2026, but for the next couple decades. As you look at the tenure on this page, I want you to not only think about the tenure, but I want you to think about, I would ask you to think about the respect and the credibility and the ownership and the extra want that you generate in 95,000 people, 95,000 team members, 70,000 of those team members in the stores. I don't have time to highlight everybody on this page.

You know the executive team. You know a lot of leaders. You'll hear from a few of our other leaders. A couple that I want to highlight, when you go out in the stores today, I hope everybody has the opportunity to hit both stores, but when you think about the fact, and maybe not everybody in this room has heard us say this, most of you probably have, but for 6,700 stores, or roughly 6,500 in the U.S., we have roughly 660 district managers. Those men and women oversee about 10 stores a piece. Some are 8, some are 12. Of 660 of those men and women, 100% of those men and women ran a successful O'Reilly store. We have never hired one of those jobs in the company history, and we never will.

There is not a lot of absolutes in business, but as long as we are around, that will always be the case. 100% of our district managers ran a successful O'Reilly store. We have roughly 78 regional directors that oversee all these district managers that run roughly 100 stores a piece. 78 of the 78 not only ran a successful O'Reilly store, they ran a successful O'Reilly district, 100%. We have 14 division vice presidents. One of them is in this room today. You will have an opportunity to meet later, Patrick Quartermaine, started with the company 21 years ago. I knew him when we hired him here in Atlanta. I was living here in Atlanta, responsible for our eastern expansion. Started 21 years ago, entry level, now runs a division for us. 14 of our division vice presidents, 100% of them, ran a successful O'Reilly store, district, region, and now division.

We have four senior vice presidents of store operations and sales, hope you pick up on the theme here, that report up to Jason Tarrant. All four of those ran a successful O'Reilly store, district, region, division, and now area. And obviously, myself and Jason Tarrant all ran a store and every rank in between. We feel in retail and in our industry, that is incredibly special. I ask that while you focus on what are those little nuts that O'Reilly screws down, supply chain, all these different things, that you do not pass up the fact that the thing we are going to highlight most today is our people, our culture, and our promote-from-within philosophy. We are very proud of that, and it is the same thing on the distribution side. You are going to meet some of our distribution leaders today. We basically have two vice presidents.