GLOBAL PARTNERS LP

Global Partners LP is a master limited partnership formed in March 2005. The company owns, controls, or has access to a large terminal network for refined petroleum products and renewable fuels, connected to strategic rail, pipeline, and marine assets, extending from Maine to Florida and into the U.S. Gulf States. It is one of the largest independent owners, suppliers, and operators of gasoline stations and convenience stores, primarily in Massachusetts, Maine, Connecticut, Vermont, New Hampshire, Rhode Island, New York, New Jersey, and Pennsylvania (the "Northeast"), as well as Maryland and Virginia. As of December 31, 2025, the company had a portfolio of 1,524 owned, leased, and/or supplied gasoline stations, including 290 directly operated convenience stores, primarily in the Northeast. Additionally, it has 67 gasoline stations in Texas operated or supplied by its joint venture, Spring Partners Retail LLC. Global Partners LP is also a major distributor of gasoline, distillates, residual oil, and renewable fuels to wholesalers, retailers, and commercial customers in the New England states and New York. The company's activities include purchasing, selling, gathering, blending, storing, and transporting petroleum and related products, such as gasoline and gasoline blendstocks (like ethanol), distillates (like home heating oil, diesel, and kerosene), residual oil, renewable fuels, crude oil, and propane. It also transports petroleum products and renewable fuels by rail from the mid-continent region of the United States and Canada. Products are primarily sourced from domestic and foreign refiners, ethanol producers, crude oil producers, major and independent oil companies, and trading companies. The business operates under three segments: Wholesale, Gasoline Distribution and Station Operations (GDSO), and Commercial.