TA Petro Overview of SVC Leases and Financial Upside
Warning Concerning Forward-Looking Statements and
Non-GAAP Financial Measures
This presentation contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. Whenever
we use words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," "will," "may" and negatives and derivatives of these or similar expressions, we are making forward-looking
statements. Forward-looking statements in this presentation relate to various aspects of our business, including statements about Travel Centers of America Inc.'s ("TA," "the Company," "our,"
or "we") site expansion strategy; the potential benefits of TA's recent strategic reorganization; truck service, including off-site service, investment strategy, improvements to retail operations;
trucking industry growth forecasts; and TA's expense forecasts. These forward-looking statements are based upon our present intent, beliefs or expectations, but forward-looking statements
are not guaranteed and may not occur.
Forward-looking statements involve known and unknown risks, uncertainties and other factors, some of which are beyond our control, such as demand for trucking services, fuel price volatility,
fuel supply disruption, the availability and cost of labor, and acts of terrorism, geopolitical risks, war, public health crises, such as the ongoing COVID-19 pandemic, or other man-made or
natural disasters. For example: (a) the site locations we acquire may not generate increased operating income or it may take longer than we expect for these sites to become profitable, if at all;
(b) managing and integrating acquired, developed and franchised locations may be more expensive than anticipated and expose us to new liabilities and financial losses; (c) we may not have
sufficient collateral or we may be unable to identify lenders willing to increase their commitments to us or join our credit facility; (d) we may be unable to monetize our existing unencumbered
real estate; (e) improved fuel efficiency and alternative fuel technologies or other means of transportation that may be developed and widely adopted could reduce demand for the fuel we sell;
(f) customer demand and competitive conditions may significantly impact our nonfuel revenues and the cost of our nonfuel products; (g) our suppliers may be unwilling or unable to extend to us
reasonable credit tems for our purchases; (h) our working capital requirements may increase; (i) transaction fees associated with fuel cards used by our customers may increase and further
reduce our profits; (j) our return on investment in the growth of our business may be less than anticipated; (k) compliance with, and changes to, federal, state and local laws and regulations
may adversely affect our operating environment; (1) litigation in which we are involved may be expensive and distract management, and the outcome of such litigation could adversely affect the
business; and (m) we may be susceptible to actual and potential conflicts of interest with our related parties, and the benefits we anticipate from such relationships may not materialize.
These and other risks identified under the heading "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2019, and our Quarterly Report on Form 10-Q for the
three and nine months ended September 30, 2020, each filed with the Securities and Exchange Commission, or SEC, as well as the other information we file with the SEC could cause our
results to differ from those stated or implied by our forward-looking statements. You are encouraged to read our filings with the SEC, available at www.sec.gov, for a discussion of these and
other risks and uncertainties. You should not place undue reliance upon forward-looking statements. Except as required by law, we undertake no obligation to update or revise any forward-
looking statement as a result of new information, future events or otherwise.
Certain information contained in this presentation relates to or is based on studies, publications, surveys and other data obtained from third-party sources. While we believe these third-party
sources to be reliable as of the date of this presentation, we make no representation as to the adequacy, fairness, accuracy and completeness of any information from third-party sources.
Non-GAAP Financial Measures
This presentation contains Non-GAAP financial metrics. These non-GAAP financial measures should be considered only as supplemental to, and not as superior to, financial measures
prepared in accordance with U.S. generally accepted accounting principles, or GAAP. TA believes the non-GAAP financial measures in this presentation are meaningful supplemental
disclosures because they may help investors gain a better understanding of changes in TA's operating results and its ability to pay rent or service debt when due, make capital expenditures
and expand its business. These non-GAAP financial measures also may help investors to make comparisons between TA and other companies and to make comparisons of TA's financial and
operating results between periods. Management uses these measures in developing internal budgets and forecasts and analyzing TA's performance. Reconciliations of those metrics to the
most directly comparable financial measure calculated in accordance with GAAP are included herein.
1
TA PETRO TAEXPRESS
Stopping CentersView entire presentation