U.S. SMID FIRST TO MARKET

Research evidence excerpt

U.S. SMID FIRST TO MARKET

North America Equity Research

Due to market closures, there will be no publication of U.S. SMid First to Market on 19 June. Publication

resumes on 22 June.

U.S. SMID First to Market 18 June 2026

Top Stories

Advance Auto Parts, Inc. (Christopher Horvers, CFA) (AAP, N, PT $65.00)

Mgmt Meeting Highlights

We hosted meetings with AAP management at its Raleigh headquarters, seeing CEO Shane O’Kelly and CFO Ryan

Grimsland, in addition to our first meetings with most of the rest of the senior management team including recently hired Head

of Supply Chain Ron Gilbert (formerly of Saks), Chief Merchandising Officer Bruce Starnes (via TGT), Head of Pro Anthony

Sarlanis, Head of Stores Tony Hurst, and Head of Merchandising Operations Smriti Maheshwari (formerly of TGT, LOW, and

DG), in addition to others.

JPM Energy Conference Question Bank (Arun Jayaram/Jeremy Tonet, CFA/Eli Jossen, CFA/Aidan C Kelly/Mark

Strouse, CFA/Bill Peterson/Bennett Moore)

E&P, Integrated Oil & Refining, Midstream, Oilfield Services & Equipment, Utilities, Power, Clean

Energy/Sustainable Investing and Metals & Mining

The J.P. Morgan Energy Research team is hosting our 11th annual Natural Resources Conference, taking place in New York on

June 23-24, 2026. In total, we have ~144 companies confirmed to participate with a mix of E&Ps, Oilfield Services and

Equipment, Integrated Oils and Refiners, Energy Infrastructure, MLPs, North American Utilities, Clean Energy, and Mining

companies.

E&P, Integrateds and Refiners (Arun Jayaram)

Previewing JPM’s 11th Natural Resources Conference; Buyside Focus Remains on Power, LNG, and

Data Center Themes

JPM View: We preview JPM’s 11th annual Natural Resources conference, which will take place on June 23-24 in NYC. This