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Investor Presentaiton

Denny's STRONG PARTNERSHIP WITH FRANCHISEES Well Diversified, Experienced, and Energetic Group of 266 Franchisees • 37 franchisees with more than 10 restaurants each collectively comprise 60% of the franchise system As we strive to be a model franchisor, we listen, partner, share, refine and invite participation from our franchisees in virtually all brand strategies and initiatives through our Denny's Franchisee Association and Brand Advisory Councils • The largest-ever turnout at the 2016 Annual Denny's Franchisee Association Convention is evidence of our growing momentum and brand relevance Ownership of 1,564 Franchisee Restaurants Total Franchise Number of Number of Total Franchise Franchise Units Franchisees Units as % Units of Total 1 94 94 6% 2-5 104 297 19% 6-10 31 237 15% 11-15 14 176 11% 16-30 13 282 18% > 30 10 478 31% Total 266 1,564 100% 18
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