AGM 2021

Feb 2, 2021

Good morning, everyone. Welcome to the Annual Meeting of Aramark Shareholders. I'm Stephen Sadoff, Chairman of the Board of Aramark. I will serve as Chairman of today's meeting. Assisting me with our meeting is Harold Dichter, Secretary of Aramark. This is our 1st year hosting a virtual meeting. The virtual meeting provides the same rights and advantage of a physical meeting, while supporting the health and well-being of our shareholders and other participants during the COVID-nineteen pandemic. I'd like to begin by introducing members of our Board of Directors who are present and our Director nominee. Our directors are Susan Cameron, Greg Creed, Calvin Darden, Richard Dreiling, Irene Estevas, Daniel Heinrich, Paul Hillel, Karen King, Arthur Winkleblatt, John Zomer and our Director nominee, Bridget Heller. I'd also like to acknowledge some other guests attending our meeting. Certain members of Aramark's leadership team are with us today as well as representatives of KPMG LLP, our independent public accounting firm for fiscal 2020 and Deloitte and Touche LLP, who will serve as our independent public accounting firm for fiscal 2021. Now let's get to the order of business. An agenda for the meeting and a list of rules and procedures for the conduct of the annual meeting have been posted to the virtual meeting website. To conduct an orderly meeting, we ask that participants abide by these rules. The following business is scheduled to come before this meeting as outlined in our proxy statement. The election of directors, the ratification of accountants, The advisory vote on the compensation of executives, the advisory vote on the frequency of future advisory votes on the compensation of executives, The approval of the company's 3rd amended and restated 2013 Stock Incentive Plan and the approval of the company's 2021 Employee Stock Purchase Plan. First, I will ask Harold Victor to conduct the business portion of the meeting. Thank you, Steve. The Board of Directors has fixed the close of business on December 10, 2020 as the record date for determination of the shareholders entitled Notice of and to vote at this meeting. As of that date, there were 253,927,685 shares Common stock outstanding and entitled to be voted at this meeting. Each share of common stock is entitled to 1 vote per share. Thus, shares entitled to cast 2 153,927,685 votes were outstanding on the record date. A certified shareholder list has been prepared and may be examined by shareholders upon Quest. A notice of the meeting and proxy statement was mailed on December 23, 2020 to shareholders of record on December 10, 2020. A copy is available on the virtual meeting website. I have an affidavit of mailing establishing that such notice was duly given. Representatives of Broadridge, which has been appointed Inspector of Election, report shares of common stock entitled to cast a majority of the votes that may be cast at the meeting are represented here today. Accordingly, a quorum is present. Any record holder who has not yet voted or sent in a proxy card and is participating may vote now by clicking the Vote Here button on the meeting website and following the instructions provided. As described in the company's December 23, 2020 proxy statement, company's Board of Directors has nominated Susan Cameron, Greg Creed, Calvin Darden, Richard Dreiling, Irene Estevez, Daniel Heinrich, Bridget Heller, Paul Hillel, Karen King, Steven Sadov, Arthur Winkelback and John Zilmer For election as directors of the company to serve until the 2022 Annual Meeting of Shareholders or until their successors are elected and qualified and And has recommended that each such director be so elected. Under the company's bylaws, no other nominations may be made at this time. The Board has also recommended that the company's shareholders ratify the Audit Committee selection of Deloitte and Touche LLP as the company's independent public accounting firm for fiscal year 2021, Approve on a non binding advisory basis, the compensation page of the named executive officers of the company. Approve on a non binding advisory basis That future votes to approve on a non binding advisory basis, the compensation paid to the named executive officers of the company should be held annually. Approve the company's 3rd amended and restated 2013 stock incentive plan and approve the company's 2021 employee stock purchase plan. As a reminder, shareholders who have sent in proxies need not take any further action with respect to the matters to be voted upon today. However, if you have not submitted a proxy Or if you would like to change your vote and you are participating in the meeting on the web portal, you may do so now by clicking the Vote Here button on your screen. The polls are now declared open at 10:0:5 a. M. With respect to each of the items before the meeting. In case there is any discussion on these six matters specifically, Shareholders can submit a question now by typing a question in the Ask a Question field on the virtual meeting website and clicking Submit. There will be time for an open Q and A later. As noted in the meeting rules and procedures posted to the virtual meeting website, in order to conduct the meeting efficiently and ensure everyone that would like to ask a question has an opportunity, We will limit each shareholder to 2 questions. Are there any questions on the 6 items being voted on? Again, there will be time for general Q and A later. We will pause for a moment to allow for any additional questions to be submitted. As it appears that the voting is complete, I will now close the polls at 10:0:06 a. M. I will now ask the Inspector of Election to read its preliminary report. Based on the preliminary tally of the Inspector of votes entitled to be cast, each of the nominees of the Board has been elected. The selection of Deloitte and Touche LLP as the company's independent public accountant has been ratified. The compensation The company's named executive officers has been approved. It has been determined that the advisory vote on the compensation of the company's named executive officers Should be held annually. The company's 3rd amended and restated 2013 stock incentive plan has been approved And the company's 2021 employee stock purchase plan has been approved. A final report containing the precise tally Will be submitted to the Secretary of the company for inclusion with the minutes. Based on this preliminary tally and subject delivery of the inspectors final report. The 12 nominees have been elected to serve as directors until the 2022 Annual Meeting of Shareholders or until their successors are elected and qualified. The Audit Committee selection of Deloitte Touche LLP as the company's independent public accountant for fiscal year 2021 has been ratified. The compensation of the company's named executive officers has been approved. It has been determined that the advisory vote on the compensation of the company's named executive officers should be held annually. The company's 3rd amended and restated 2013 stock incentive plan and the 2021 employee stock purchase plan have each been approved. Now I will turn the meeting back over to Steve Sadov. Thank you, Harold. The Secretary will file the report of the Inspector of Election with the records of the meeting. Those records may be reviewed by shareholders by contacting the company's secretary. We'll now allow time for the general discussion and questions. As we did previously, any shareholder wishing to submit a question should have type of question in the Ask a Question field in the web portal and click Submit. There's a 2 question limit per shareholder to allow us to answer questions from as many shareholders as possible. So please submit your questions now if you have. Okay. I see one question. So I'll direct it to you, John, first. The question is with COVID, have you had any major issues getting products from Live vendors, if so, which categories? Thank you. Hi, yes. This is John Selmer. We have had very good results in terms of our availability of products and supply. There have been no significant disruptions Affecting the business of the various products that we use both domestically and internationally. So our supply chain Team has done an excellent job of making sure they maintain an adequate supply for operations of both food products as well as Okay. I do not see any questions. Are there any other questions? Okay. Seeing none, that concludes our general Q and A session. I will now turn the meeting back over to Steve Sadov. Thank you, Harold. And I want to thank all of you for attending. I want to thank our members of our management team, our Board of Directors. And again, thank you for your continued support. The meeting is now adjourned. Have a good day. The conference has now concluded. Thank you for attending today's presentation. You may now disconnect.