def METHOD_NAME(composite_key):
    """
    Convert the given composite-key string back to a list of distinct values.
    - Percent-encoded characters are converted back to their raw values
    - Single literal null characters `%00` are converted back to a Python `None`.
    Inverse operation of `construct_composite_key()`.
    """
    values = [unquote_plus(value) for value in composite_key.split(COMPOSITE_KEY_SEPARATOR)]
    values = [value if value != "\0" else None for value in values]
    return values