Chipotle Mexican Grill — Oct 29, 2024 release

More information will be available in our Quarterly Report on Form 10-Q, which will be filed with the SEC by the end of October. Outlook For 2024, management is anticipating the following: • Full year comparable restaurant sales growth in the mid to high-single digit range • 285 to 315 new company-operated restaurant openings with over 80% having a Chipotlane • An estimated underlying effective full year tax rate between 24% and 26% before discrete items For 2025, management is anticipating the following: • 315 to 345 new company-operated restaurant openings with over 80% having a Chipotlane Definitions The following definitions apply to these terms as used throughout this release: • Comparable restaurant sales, or sales comps, and comparable restaurant transactions , represent the change in period-over-period total revenue or transactions for restaurants in operation for at least 13 full calendar months. • Average restaurant sales refer to the average trailing 12-month food and beverage revenue for restaurants in operation for at least 12 full calendar months. • Restaurant level operating margin represents total revenue less direct restaurant operating costs, expressed as a percent of total revenue. • Digital sales represent food and beverage revenue for company-operated restaurants generated through the Chipotle website, Chipotle app or third-party delivery aggregators. Digital sales include revenue deferrals associated with Chipotle Rewards. 1 Restaurant level operating margin, adjusted diluted earnings per share, adjusted net incom