Genuine Parts Co. (GPC) Global Consumer and Retail Conference 2026 — Key Takeaways

Equity Research 15 September 2026 | 4:10PM EDT

Genuine Parts Co. (GPC): Global Consumer and Retail Conference 2026 — Key Takeaways

Kate McShane, CFA | Goldman Sachs & Co. LLC

Mark Jordan, CFA | Goldman Sachs & Co. LLC Presenters: We hosted Will Stengel, Chairman & Chief Executive Officer, and Bert Emily Ghosh Nappier, EVP, Chief Financial and Operating Officer of Genuine Parts Company, at the | 33rd Annual Global Retail Conference. Goldman Sachs & Co. LLC

Nishi Agarwal Bottom Line: The company’s planned separation remains on track for 1Q 2027, and | following the recently announced management updates, the businesses are well Goldman Sachs India SPL positioned from a management perspective. Going forward, there remains Grace Chee | significant opportunity for both Motion and the Global Automotive businesses to Goldman Sachs & Co. LLC improve operations, with key areas identified as pricing/source capabilities, and Samantha Chiang distribution for Automotive. We expect to hear more at GPC’s upcoming investor day | events in December. Goldman Sachs & Co. LLC

Genuine Parts Company - Will Stengel, Chairman & Chief Executive Officer, and Bert Nappier, EVP, Chief Financial and Operating Officer

n Management update positions both companies well post separation: Management noted the company’s planned separation remains on track for 1Q 2027, and with the recently announced management update, each business is now positioned well from a leadership perspective, in our view. GPC’s current Chairman and CEO, Will Stengel, will join the Motion business as Chairman and CEO, while Bert Nappier, the company’s current EVP, CFO & COO will remain with GPC. Court Carruthers, who is a current GPC Board member and has extensive experience in distribution, is CEO-elect for GPC. With the management team aligned, current priorities now include (1) ensuring day-one continuity for each business and that processes are in place so Motion can execute post-separation, and (2) maintaining the current business momentum. n Post-separation capital priorities: The company did not disclose detailed capital allocation plans for each business post-separation, but noted the

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Goldman Sachs Genuine Parts Co. (GPC)

significant organic growth and bolt-on M&A opportunities that exist for Motion, along with organic investments for the automotive business, particularly with regard to supply chain. Following the separation, management expect an investment grade rating for both businesses. n Motion’s pricing/sourcing margin opportunity: Management noted that Motion’s business has an attractive opportunity to expand margins by optimizing their pricing and source capabilities. For pricing, management described the process as being in the third inning, while sourcing is in the second. n Distribution to be a focus for the US auto business: Supply chain and distribution capabilities are likely to emerge as a key area of investment for the US automotive business post-separation, with management citing the need to catch-up in this regard following a period of underinvestment. We expect this to be a significant focus at the company’s upcoming investor day on December 8th, with planned investments likely to include an increase in robotics and automation. n NAPA independents to remain a core component of US auto strategy: The NAPA independents will remain a core component of the company’s US automotive strategy, allowing GPC to a hold a presence is more rural markets that are less attractive from a company perspective. GPC plans to continue buying back the network where attractive, but will continue to take a market-by-market approach. n International automotive remains…