Second Quarter 2017 Conference Call

Second Quarter Financial Highlights 2017 Company Restaurant Margin 19.6% G&A $51.3 $116.1 36.2% Adjusted EBITDA* Adjusted EBITDA Margin* Adjusted EPS* YTD Free Cash Flow * See reconciliation of non-GAAP financial measures in the Appendix. Adj. EBITDA Margin 26.8% $102 Q2 2016 Adj. EBITDA $29 Q2 2017 vs. Q2 2016 Adjusted EBITDA Royalties, Net Franchise Fees & Net Rental Income $10 $0.15 $88.5 G&A ($4) $ Mils (except per share amounts) (Unaudited) 2016 21.9% $61.1 $102.5 26.8% $0.10 $37.3 Restaurant Margin B/(W) (230) bps 16.1% 13.3% ($21) +940 bps 50.0% 137.2% THE WENDY'S COMPANY | 15 Sold Restaurant EBITDA (SOIII) $ Mils (Unaudited) Adj. EBITDA Margin 36.2% $116 8/9/2017 Q2 2017 Adj. EBITDA THE WENDY'S COMPANY | 16 8

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