McDonald's Investor Presentation Deck

Important Disclaimers This presentation contains financial measures that are not calculated in accordance with generally accepted accounting principles in the United States ("GAAP"), including Systemwide sales, free cash flow conversion and adjusted operating margin. Systemwide sales include sales at all restaurants, whether operated by us or by franchisees. Free cash flow conversion is free cash flow (cash provided by operations, less capital expenditures) divided by net income. Adjusted operating margin is defined as non-GAAP operating income (operating income adjusted for certain special gains and charges) divided by total revenues. More information about these non- GAAP financial measures, including why management believes they provide useful information to investors, can be found in our filings with the Securities and Exchange Commission (the "SEC"). See the Appendix to this presentation for reconciliations of these non-GAAP financial measures to the most directly comparable financial measures calculated and presented in accordance with GAAP. 2023 Outlook has been excerpted from our Quarterly Report on Form 10-Q filed with the SEC on May 4, 2023 (the "Report"). 2023 Outlook comprises forward-looking statements that reflect current expectations, are not guarantees of performance and speak only as of the date of the Report. You should not unduly rely on forward- looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include those reflected under "Risk Factors" in the Report and elsewhere in our filings with the SEC. Website links included in this presentation are for convenience only. Information contained on or accessible through such website links is not incorporated in, and does constitute a part of, this presentation. 2

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