Achieving Long-Term Growth Targets

SHAREHOLDER FRIENDLY MODEL EBITDA Growth and Cash Generation Support Return of Capital and Deleveraging LTM Q4 2017 Cash Conversion 1 Net Debt/ LTM Adjusted EBITDA 4 97% 94% 93% $1.83 Per Share Dividend $2.90 Per Share Dividend 84% 72% 5.2x 5.0x dunkin' brands. (2) dineEquity 2.4x 3.1x $3.17 Per Share Dividend $3.05 Per Share Dividend 5.8x 4.5x 6.8x TUZXA PAPA JOHN'S Q1 2015 Q2 2016 Q2 2016 Q4 2017 Post Recap. Pro-Forma Q4 2017 Pro-forma Q3 2018 Q3 2018 Pro-Forma Domino's Source: Public company filings. Notes: 1. 2. 3. 4. Defined as (Adjusted EBITDA - Capex) / Adjusted EBITDA. Calculations use Adjusted EBITDA. LTM Q4 Capex of $2.5 million is adjusted for restaurant acquisitions. Leverage Net Debt / LTM Adjusted EBITDA. 25 Appendix

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