| Warning Concerning Forward-Looking Statements and Non-GAAP Financial Measures 4 Thispresentationcontainsstatementsthatconstituteforward-lookingstatementswithinthemeaningofthePrivateSecuritiesLitigationReformActof1995andothersecuritieslaws.Whenever weusewordssuchas"believe,""expect,""anticipate,""intend,""plan,""estimate,""will,""may"andnegativesandderivativesoftheseorsimilarexpressions,wearemakingforward-looking statements.Forward-lookingstatementsinthispresentationrelatetovariousaspectsofourbusiness,includingstatementsaboutTravelCentersofAmericaInc.’s(“TA,”“theCompany,”“our,” or“we”)financialtargets;transformationplan,includingTA'sgrowthstrategy,ITdevelopmentandotheranticipatedoperationalinitiatives;franchiseexpansionexpectations;useofartificial intelligenceandothertechnologytoimprovefuelmargin;truckservicegrowth;alternativeenergyopportunities;fleetcustomerstrategy,includingtheimpactofaprivatelabelbillingcard; hospitalityimprovements;andanticipatedacquisitions.Theseforward-lookingstatementsarebaseduponourpresentintent,beliefsorexpectations,butforward-lookingstatementsarenot guaranteedandmaynotoccur. Forward-lookingstatementsinvolveknownandunknownrisks,uncertaintiesandotherfactors,someofwhicharebeyondourcontrol,suchasdemandfortruckingservices,fuelpricevolatility, fuelsupplydisruption,theavailabilityandcostoflabor,andactsofterrorism,geopoliticalrisks,war,publichealthcrises,suchastheCOVID-19pandemic,orotherman-madeornatural disasters.Forexample:(a)thesitelocationsweacquiremaynotgenerateincreasedoperatingincomeoritmaytakelongerthanweexpectforthesesitestogeneratesufficientprofitability,if atall;(b)managingandintegratingacquired,developedandfranchisedlocationsmaybemoreexpensivethananticipatedandexposeustonewliabilitiesandfinanciallosses;(c)wemaynot havesufficientcollateralorwemaybeunabletoidentifylenderswillingtoincreasetheircommitmentstousorjoinourcreditfacility;(d)wemaybeunabletomonetizeourexisting unencumberedrealestate;(e)improvedfuelefficiencyandalternativefueltechnologiesorothermeansoftransportationthatmaybedevelopedandwidelyadoptedcouldreducedemandfor thefuelwesell;(f)customerdemandandcompetitiveconditionsmaysignificantlyimpactournonfuelrevenuesandthecostofournonfuelproducts;(g)oursuppliersmaybeunwillingor unabletoextendtousreasonablecredittermsforourpurchases;(h)ourworkingcapitalrequirementsmayincrease;(i)transactionfeesassociatedwithfuelcardsusedbyourcustomersmay increaseandfurtherreduceourprofits;(j)ourreturnoninvestmentinthegrowthofourbusinessmaybelessthananticipated;(k)compliancewith,andchangesto,federal,stateandlocal lawsandregulationsmayadverselyaffectouroperatingenvironment;(l)litigationinwhichweareinvolvedmaybeexpensiveanddistractmanagement,andtheoutcomeofsuchlitigation couldadverselyaffectthebusiness;(m)wemaybesusceptibletoactualandpotentialconflictsofinterestwithourrelatedparties,andthebenefitsweanticipatefromsuchrelationshipsmay notmaterialize;and(n)increasedfuelpricesresultingfromresponsestointernationalconflictsmayimpactourprofitabilityanddemandforfuel. Theseandotherrisksidentifiedundertheheading"RiskFactors”inourAnnualReportonForm10-KfortheyearendedDecember31,2021,filedwiththeSecuritiesandExchange Commission,orSEC,aswellastheotherinformationwefilewiththeSECcouldcauseourresultstodifferfromthosestatedorimpliedbyourforward-lookingstatements.Youareencouraged toreadourfilingswiththeSEC,availableatwww.sec.gov,foradiscussionoftheseandotherrisksanduncertainties.Youshouldnotplaceunduerelianceuponforward-lookingstatements. Exceptasrequiredbylaw,weundertakenoobligationtoupdateorreviseanyforward-lookingstatementasaresultofnewinformation,futureeventsorotherwise. Certaininformationcontainedinthispresentationrelatestoorisbasedonstudies,publications,surveysandotherdataobtainedfromthird-partysources.Whilewebelievethesethird-party sourcestobereliableasofthedateofthispresentation,wemakenorepresentationastotheadequacy,fairness,accuracyandcompletenessofanyinformationfromthird-partysources. Non-GAAP Financial Measures Thispresentationcontainsnon-GAAPfinancialmeasures.Thesenon-GAAPfinancialmeasuresshouldbeconsideredonlyassupplementalto,andnotassuperiorto,financialmeasures preparedinaccordancewithU.S.generallyacceptedaccountingprinciples,orGAAP.TAbelievesthenon-GAAPfinancialmeasuresinthispresentationaremeaningfulsupplemental disclosuresbecausetheymayhelpinvestorsgainabetterunderstandingofchangesinTA'soperatingresultsanditsabilitytopayrentorservicedebtwhendue,makecapitalexpenditures andexpanditsbusiness.Thesenon-GAAPfinancialmeasuresalsomayhelpinvestorstomakecomparisonsbetweenTAandothercompaniesandtomakecomparisonsofTA'sfinancialand operatingresultsbetweenperiods.ManagementusesthesemeasuresindevelopinginternalbudgetsandforecastsandanalyzingTA'sperformance.Reconciliationsofthosemetricstothe mostdirectlycomparablefinancialmeasurecalculatedinaccordancewithGAAPareincludedherein. |