#1Quality Is Our Recipe, LLC Second Quarter 2020 Conference Call August 5, 2020#2Quality Is Our Recipe, LLC Greg Lemenchick Senior Director - Investor Relations & Corporate FP&A#3Forward-Looking Statements and Non-GAAP Financial Measures This presentation, and certain information that management may discuss in connection with this presentation, contains certain statements that are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Reform Act"). For all such forward-looking statements, we claim the protection of the safe harbor for forward-looking statements contained in the Reform Act. Many important factors could affect our future results and could cause those results to differ materially from those expressed in or implied by our forward-looking statements. Such factors include, but are not limited to, those identified under the caption "Forward-Looking Statements" in our release issued on August 5, 2020 and in the "Special Note Regarding Forward-Looking Statements and Projections" and "Risk Factors" sections of our most recent Form 10- K / Form 10-Qs. In addition, this presentation and certain information management may discuss in connection with this presentation reference non-GAAP financial measures (i.e. adjusted revenue, adjusted EBITDA, adjusted earnings per share, free cash flow and systemwide sales). These non-GAAP financial measures exclude certain expenses and benefits. Reconciliations of non-GAAP financial measures to the most directly comparable GAAP financial measures are provided in the Appendix to this presentation. THE WENDY'S COMPANY | 3#4Š N m Agenda Business Update Financial Results IR Calendar Q&A THE WENDY'S COMPANY | 4#5Quality Is Our Recipe, LLC Todd Penegor President & Chief Executive Officer#61 * WE WILL BECOME. THE WORLD'S thriving beloved RESTAURANT BRAND.#7Wendy's() FRE VEND Wendy's QUALITY IS OUR RECIPE Q2 Business Update ▪ Continued Support for Employees, Customers, and Franchisees ▪ Sales Trends Accelerating ▪ Resilient Economic Model Sustained Breakfast Strength Growing Digital Business Strong Liquidity Position Committed to Long Term Growth Initiatives THE WENDY'S COMPANY | 7#8U.S. Restaurant Sales Continuing to Accelerate in July U.S. SAME-RESTAURANT SALES ~-14% April ~-2% May ~5% June -8% July ● ● ● Sales trends improve to high single digits in July Customer counts continue to improve Strong average check continues THE WENDY'S COMPANY | 8#9Marketing Plans Aimed at Continuing to Drive Growth 4 FOR $4 RETABLISHED ESTABLISHED Wendy's THE WENDY'S COMPANY | 9#10Building our Breakfast Business Weekly sales continue to grow; ~8% of total U.S. sales in Q2 ■ Company to invest up to $15M in incremental advertising in 2020 Plan to market breakfast in a big way in the back half Franchise system fully supportive ▪ Awareness levels remain strong; significant upside remains NOW SERVING BREAK FAST Breakfast BACONATOR AT PARTICIPATING RESTAURANTS THE WENDY'S COMPANY | 10#11Digital Sales Growth Continues - Loyalty to Add Another Layer l Sketch Home 9:41 AM REWARDS Your Balance 203 Visit Rewards Store Scan in Restaurant Rewards WAKE UP with Wendy's Order 85 Scan * 100% Account throm REWARDS TM THE WENDY'S COMPANY | 11#12Operational Excellence Remains a Key Priority Over 70% of dining rooms open Speed and taste metrics significantly improved Strong, accelerating restaurant margin Evaluating future restaurant operating model efficiencies en QUALITY IS OUR RECRE THE WENDY'S COMPANY | 12#13International Markets Are Recovering *As of August 2, 2020 ~90%* of restaurants now open Strong recoveries in key markets such as Canada, Puerto Rico, and NZ ▪ U.K. launch remains on track Fully committed to International growth THE WENDY'S COMPANY | 13