First Watch IPO Presentation Deck

Off-Premises Has Unlocked Accessibility Maintaining Off-Premises Volume as In-Restaurant Sales Ramp Average Weekly Off-Premises Sales 23 $1,897 Q4'19 $8,082 Q4'20 $8,079 Q2'21 ● ● ● ● ● EGION ● OF Off-premises available in all restaurants New 2021 locations to have dedicated off premises infrastructure elements such as dedicated make lines and to-go rooms, separate entrances and dedicated parking spots where feasible Off-premises sales were 23% of total restaurant sales in Q2'21 Direct takeout accounted for 53% of off-premises sales Third-Party Delivery accounted for 47% of off-premises sales Relatively margin neutral with pricing surcharge BOOM TAWRZEN FIRST WATCH BEGASFRIT BEUNGH SEISIE

View entire presentation