Investor Presentaiton
Strong Management
Team and Infrastructure
to Support Growth
Fast Growing
Hospitality Company
Well Positioned for
Significant Growth in a
Transforming Hospitality
Sector
Acquisitions Can Further
Enhance Our Brand Portfolio
and Unit Pipeline
Multiple Levers to Drive
Revenues and Profitability
STRONG ECONOMICS
DRIVES FLEXIBILITY
Strong Portfolio of
High Volume, High Margin
Brands with Industry
Leading ROIC
STK
STEAKHOUSE
Revenue
EBITDA
Cash Investment
ROI
Significant Pipeline For
Unit Growth in 2023
and Beyond
Target New Unit
Economics
$8.0mm
$1.9mm
$3.8mm(1)
50%
Share Buybacks Creating
Value For Shareholders
KONA GRILL
Revenue
EBITDA
Target New Unit
Economics
$5.0mm
Cash Investment
ROI
$1.0mm
$2.5mm(1)
40%
(1) Excludes preopening expenses and net of tenant improvement
allowances
(1) Excludes preopening expenses and net of tenant improvement
allowances
CAUTIONARY STATEMENTS
FORWARD-LOOKING STATEMENTS - This presentation contains statements relating to the Company's future business and financial performance and future events or developments that constitute
"forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Statements that include the words "expect," "intend," "plan,"
"believe," "project," "forecast," "estimate," "may," "should," "anticipate," "target," and similar words identify forward-looking statements. A variety of factors, many of which are beyond the Company's control,
affect the Company's operations, performance, business strategies and results, and the Company's actual results may differ materially from those indicated in these statements. These factors include, but are not
limited to, the impact of COVID-19 and government responses on the Company's business, continued compliance with governmental regulation, the ability to manage growth, requirements or changes affecting
the Company's business, general economic and business conditions and the Company's ability to open new restaurants and food and beverage locations in existing and new markets. More detailed information
about these risk factors may be found in the Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2022. The statements
made herein speak only as of the date of this presentation. The Company undertakes no obligation to update its forward-looking statements to reflect events or circumstances after the date of this presentation.
NON-GAAP FINANCIAL MEASURES - This presentation contains non-GAAP financial measures. A "non-GAAP financial measure" is a numerical measure of a company's financial performance that
excludes or includes amounts from a measure calculated and presented in accordance with GAAP in the consolidated statements of operations, balance sheets or statements of cash flows of the Company.
These measures are presented because management uses this information to monitor and evaluate financial results and trends and believes this information to also be useful for investors. The Company has
both wholly owned and partially owned subsidiaries. Same store sales represent total U.S. food and beverage sales at owned and managed units opened for at least a full 18-months. This measure includes
total revenue from our owned and managed locations. Total food and beverage sales at owned and managed units represents total revenue from owned operations as well as the sales reported to the Company
by the owners of locations the Company manages, where it earns management and incentive fees. EBITDA is defined as net income before interest expense, provision for income taxes and depreciation and
amortization. Adjusted EBITDA represents net income before interest expense, provision for income taxes, depreciation and amortization, non-cash impairment loss, non-cash rent, pre-opening expenses, non-
recurring gains and losses and losses from discontinued operations. The disclosure of EBITDA and Adjusted EBITDA and other non-GAAP financial measures may not be comparable to similarly titled measures
reported by other companies. EBITDA and Adjusted EBITDA should be considered in addition to, and not as a substitute for, or superior to, net income, operating income, cash flows, revenue, or other measures
of financial performance prepared in accordance with GAAP. For a reconciliation of total food and beverage sales at owned and managed units, EBITDA, and Adjusted EBITDA to the most directly comparable
financial measures presented in accordance with GAAP and a discussion of why we consider them useful, see the Company's filings with the Securities and Exchange Commission, including its Annual Report
on Form 10-K for the year ended December 31, 2021, and its Quarterly Report on Form 10-Q for the quarters ended September 30, 2021, and September 30, 2022.
*Non-GAAP reconciliations please see the Company's press release dated March 9, 2023.View entire presentation