Chipotle Mexican Grill — Jul 23, 2025 release

The repurchase authorization may be modified, suspended, or discontinued at any time. More information will be available in our Quarterly Report on Form 10-Q, which will be filed with the SEC by the end of July 2025. Outlook For 2025, management is anticipating the following: • About flat full year comparable restaurant sales • 315 to 345 new company-owned restaurant openings with over 80% having a Chipotlane • An estimated underlying effective full year tax rate between 25% and 27% before discrete items 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 company-owned restaurants in operation for at least 13 full calendar months. • Average restaurant sales refers to the average trailing 12-month food and beverage revenue for company-owned 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-owned restaurants generated through the Chipotle website, Chipotle app or third-party delivery aggregators. Digital sales include revenue deferrals associated with Chipotle Rewards. Conference Call Details Chipotle will host a conference call on Wednesday, July 23,