Investor Presentaiton

DENNY'S INVESTMENT HIGHLIGHTS Denny's Consistently Growing Same-Store Sales Expanding Global Footprint Growing Profitability with 90% Franchised Business Strong Free Cash Flow* Generation Consistently Returning Capital to Shareholders System-wide same-store sales growth in 14 of last 15 quarters Highest annual same-store sales growth in over a decade in 2015 • More than 450 new restaurants opened since 2009 (>25% of the system) • More than 50 international locations opened since 2009 (8 new countries) • 35% Adjusted EBITDA* growth since 2010 27% Adjusted EPS* growth in 2016 with 175% Adjusted EPS* growth since 2011 Generated over $280M in Free Cash Flow* over the last 6 years, capital expenditures, cash interest, and cash taxes. after ⚫ 2017 Full Year Guidance¹ is $58M to $60M in Free Cash Flow* • Nearly $60M allocated to repurchase shares in 2016 • More than $270M allocated to share repurchase program since November 2010² See Appendix for reconciliation of Net Income to Adjusted EBITDA, Adjusted Income Before Taxes, Adjusted Net Income, Adjusted Net Income per Share (also called Adjusted Earnings per Share), and Free Cash Flow. 1. Full Year Guidance provided in Fourth Quarter 2016 Earnings Release dated February 15, 2017. 2. Data as of December 28, 2016, the end of Fiscal Fourth Quarter 2016. 3

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