First Watch IPO Presentation Deck
We've Rapidly Grown Units Throughout the U.S.
System-Wide Restaurants Since 2014
Company-Owned Franchised
Total:
15
(1)
19
129
2014
148
91
(2]
186
2015
277
103
194
2016
297
+18%
CAGR (¹)
105
213
2017
318
103
248
2018
351
((3)
69
299
2019
368
88
321
2020
409
2,220+
We have the potential for more than 2,200 locations in the U.S.
Represents total system-wide restaurants including franchises.
Increase in franchise restaurants reflects acquisition of The Egg and L
Decrease in franchised restaurants represents completion of conversion of acquired restaurants to the First Watch brand
Restaurant Count by State as of Q2'21(1)
25
1
Fastest-Growing Full Service Restaurant in 2019 according to
Nation's Restaurant News and in 2020 by FSR Magazine
18
6
10
55
21
3
3
5
20
4
12
35
15
5
15
18
23
102
Proven portability with restaurants in our top decile spanning 9 states and 14 DMAS
FIRST WATCH
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