2014 ANNUAL REPORT
AND PROXY STATEMENT

Chipot le Mexican Grill, Inc.
1
401Wynkoop Street, Suite 500 en er,
0 0 arch , 01
5
DEAR FELLOW SHAREHOLDERS:
When we set as our mission to change the way people think about and eat fast food, we knew it was a big and dif cult, but ery important, goal n establishing this mission for hipotle, we belie ed that we had a food culture and a people culture that would allow us to create a new fast food model, and unit economics that would enable us to do this in a way that was pro table and that would pro ide outstanding returns to our shareholders hroughout , we ha e seen increasing e idence that our ision is becoming reality idence of hipotle s continued leadership and in uence comes in many forms, from our ongoing uest to make the ery best tasting food we can made with the ery best ingredients and prepared using classical cooking techni ues to the strengthening of our people culture, strengthening of consumer trends that support our business model, our in uence on the category and our performance relati e to the industry as a whole uring the year, in our pursuit for better ingredients we ser ed more esponsibly aised® meat (from animals raised in more humane ways and without the use of antibiotics or added hormones) than any other restaurant company We continued to use dairy products made with milk from pastured dairy cattle We remain committed to our program of using local and organically grown produce whene er possible nd we continued to make signi cant progress toward our goal of ser ing food made with ingredients that are not genetically modi ed ll of these mo es are consistent with our ood with ntegrity mission, and contribute to making the most delicious food we can, while also making great strides to impro e the o erall food supply o other restaurant company matches hipotle s commitment to using ingredients that are raised