December Edition

Chipotle's Continued Growth Since current CEO Scott Boatwright joined Chipotle in 2017 as Chief Restaurant Officer, the company has grown from over 2,300 restaurants to 4,000 locations, a 70% increase in only eight years. Chipotle will open between 315 to 345 restaurants for the full year 2025, with at least 80% featuring a Chipotlane. For 2026, management is anticipating 350 to 370 new restaurant openings, including 10 to 15 international partner-operated locations. "Achieving 4,000 restaurants underscores the strength of our strategic initiatives and commitment to Cultivate a Better World," said Scott Boatwright, Chief Executive Officer. "Most importantly, our continued growth has allowed us to bring real food made with responsibly sourced ingredients to more communities throughout the world and create new career opportunities for our team members." Chipotle's International Expansion To date, Chipotle has over 100 restaurants outside the U.S., including 75 in Canada, 28 in Europe and 11 partner-operated locations in the Middle East. Last month, in partnership with Alshaya Group, the first Chipotlane outside of North America opened at Bneid Al Gar in Kuwait. Additionally, the company signed a development agreement to open restaurants in Mexico for the first time next year with Alsea, S.A.B. de C.V.

(Alsea), a leading restaurant operator in Latin America and Europe. Through a joint venture with SPC Group, a leading South Korea-based food company, the first Chipotle restaurants in South Korea and Singapore are also scheduled to open in 2026. Chipotle Mexican Grill, Inc. (NYSE: CMG) is cultivating a better world by serving responsibly sourced, classically-cooked, real food with wholesome ingredients without artificial colors, flavors or preservatives. There are over 3,900 restaurants as of September 30, 2025, in the United States, Canada, the United Kingdom, France, Germany, and the Middle East and it is the only restaurant company of its size that owns and operates all its restaurants in North America and Europe. With over 130,000 employees passionate about providing a great guest experience, Chipotle is a longtime leader and innovator in the food industry.