Advance Auto Parts (AAP) AGM 2025 summary

Opening remarks and agenda

• Meeting opened virtually with instructions for Q&A and conduct, and formal agenda outlined, including five key proposals for shareholder vote.

• Forward-looking statements and risk factors were highlighted at the outset.

Board and executive committee updates

• Nine director nominees, including seven independent directors, were introduced for reelection.

• Executive team strengthened over the past year with leaders possessing deep retail and functional expertise.

Financial performance review

• 2024 described as transformative, with decisive actions taken to position for long-term profitable growth.

• Sale of WORLDPAC for $1.5 billion completed, strengthening the balance sheet and streamlining operations.

• Carquest Canada business retained for its growth potential and alignment with the U.S. model.