Chipotle Mexican Grill — Jul 29, 2026 release

During the second quarter of 2026 we repurchased $630.7 million of stock at an average price per share of $32.55. As of June 30, 2026, $1.7 billion remained available under share repurchase authorizations from our Board of Directors, including an additional $1.3 billion in authorizations approved by our Board of Directors on June 11, 2026. 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 in accordance with applicable rules. Outlook For 2026, management is anticipating the following: • Full year comparable restaurant sales growth in the low single digit range • 350 to 370 new restaurant openings, which includes 10 to 15 international partner-operated restaurants. Around 80% of new company-owned restaurants will have a Chipotlane • An estimated underlying full year effective tax rate between 24% and 26% 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 ca