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1、AnnualReport2020 Redefining EnergyShareholder LetterMichael J.KasbarChairman&Chief Executive Officer2020 was a year when our company,our communities,and our world were challenged in ways we had never seen before.It was a year when we learned a lot about ourselves,how we respond to rapid change,and w
2、hat really matters.The COVID-19 health and financial crisis disrupted many businesses.In an unparalleled stress test,we kept our global team safe,we kept our business running and we continued to be there for our customers.We absorbed risk,delivered on our commercial commitments,and improved our safe
3、ty metrics along the way.We maintained our financial position as the counterparty of choice to our global aviation,marine,and land-based customers,suppliers and partners.I am proud of my 5,000 colleagues and the outcomes they achieved in this challenging year.The cloud infrastructure we invested in
4、over the last three years combined with cloud storage,collaboration,and communications applications and platforms provided a functional set of workforce-ready tools enabling us to quickly transition to remote working and keep commercial activities running.We digitized transactions,documents,and comm
5、unications,and moved hundreds of suppliers and customers to our apps and portal solutions.These efforts reduce costs,lower the combined carbon footprint for ourselves and our business partners,and increase our market value by establishing greater operational integration.We are taking our large and l
6、iquid analog transportation fuel marketplace and turning it into a digital energy ecosystem to reduce costs for ourselves and our partners,drive greater operational efficiencies and lower our collective carbon footprint.Our energy management business has continued to evolve its natural gas,power,win