On June 7, 2023, the board of directors of ARKO Corp. appointed Mr. Avram (Avi) Friedman as a director, filling the vacancy created by the previously reported resignation of Starlette Johnson. Additionally, on June 7, 2023, the Board expanded its size from seven to eight directors and appointed Ms. Laura Karet as a director to fill the newly-created vacancy.

Mr. Friedman will serve as a director for the remainder of Ms. Johnson's term, which expires on the date of the company's 2025 Annual Meeting of Stockholders, and until his successor has been duly elected and qualified, subject to his earlier death, resignation, retirement, disqualification or removal. Ms. Karet will serve as a director for a term expiring at the company's 2024 Annual Meeting of Stockholders and until her successor her been duly elected and qualified, subject to her earlier death, resignation, retirement, disqualification or removal. The board appointed Mr. Friedman to serve on the Board's Audit Committee and Compensation Committee and Ms. Karet to serve on the Board's Audit Committee and Nominating and Governance Committee.

Avram (Avi) Friedman is an Adjunct Associate Professor of Business at Columbia Business School since 2021. From 2001 to 2020, Mr. Friedman worked at Davidson Kempner Capital Management LP (Davidson Kempner). Mr. Friedman was a Managing Member of the firm from 2006 through 2020.

During his time at Davidson Kempner, Mr. Friedman co-managed the firm's credit portfolios, including distressed investments, high yield, convertible arbitrage, real estate and structured products. In addition to portfolio management, Mr. Friedman also served on various investment and risk committees. Prior to Davidson Kempner, Mr. Friedman was a Vice President at Nomura Securities Special Situations Investment Trust from 2000 to 2001 and a Director in the Special Situations Group at PricewaterhouseCoopers Securities LLC from 1995 to 2000.

Previously, Mr. Friedman was a Director of GPM Investments, LLC from 2014-2020. Laura Karet has over 30 years of experience in the grocery and consumer products industries. From 2012 to 2023, Ms. Karet served as the Chief Executive Officer of Giant Eagle Inc. She also served as the chairman of Giant Eagle's board of directors.

From 2000 to 2012, Ms. Karet served as Vice President of Marketing of Giant Eagle, during which period she was honored as one of Progressive Grocer Magazine's 2010 Top Women in Grocery. During her tenure at Giant Eagle, Ms. Karet was noted for a variety of innovations, including enhancing manufacturing and fresh food production capabilities that led to expanded product offerings. She also focused on applying next generation technologies such as A.I., robotics, and automation to retail, e-commerce, customer behavior and supply chains to streamline operations in stores and online.

Prior to joining Giant Eagle, Ms. Karet was a marketing executive at the Sara Lee Corporation from 1997 to 2000 and a brand manager at the Procter & Gamble Company from 1990 to 1997, where she oversaw such household names such as Secret antiperspirant, Folgers coffee, and Crisco. Ms. Karet is a Trustee for the Brookings Institution and the Committee for Economic Development. She is also a member of the Council on Foreign Relations.