2020 Mr. James Walker, CFE, is a top restaurant industry expert with a specialty in rebranding and repositioning iconic American comfort food brands. Walker is an industry-leading authority in restaurant technology and delivery channels, and he specializes in mergers & acquisitions, domestic and international development, operations, franchising, and new product development. With more than 30 years of broad based, senior level, management experience in the hospitality and retail industries, Walker has served as President, Chief Development Officer, as well as in Senior Operations and New Product Development positions, for brands such as ®, ®, Johnny Rockets® and ®. As the North American Vice President for Subway®, Walker oversaw their 28,000 restaurants in the U.S. and . He has conducted business in more than 65 international markets, including such emerging markets as , , and Mongolia. In 2019, Walker was appointed to the Board of Advisors for Ireland’s Rocket Restaurants Group, which includes Eddie Rocket’s chain of American diners and ROCKET’S fast casual restaurants. Mr. Walker holds a Master of Business Administration (MBA) from Duke’s Fuqua School of Business, and has received certificates and James diplomas from a number of culinary institutions and colleges, including Yale’s School of Management, and Harvard’s Business School. A life- long learner, Walker recently completed MIT’s “Artificial Intelligence: Implications for Business Strategy” program. In 2020 and 2017, he was Walker, CFE a Reader’s Pick for the Nation’s Restaurant News “Power List” of notable restaurant executives. In 2016, he was awarded the President’s “E” Senior Vice President, Restaurants Award by President Obama for Excellence in Furthering American Business Internationally. In 2015, the International Franchise Association (IFA) conferred the designation of Certified Franchise Executive (CFE) to Mr. Walker.

“Food is the only art form that you experience with all your senses, and you must experience to live.” – J. 2 The flavor of New York

• Nathan’s has stood the test of time as a legacy restaurant brand, and continues to evolve as ‘The Flavor of New York’ domestically and worldwide.

• There are over 225 Nathan’s restaurants all over the world and 70,000 points of distribution - 56,000 at retail and 14,000 in foodservice.

• The Nathan’s concept is unique in the foodservice industry, as its menu and restaurant designs are flexible.

• Nathan’s sold over 700 million hot dogs last year!

3 Globally, Nathan’s Famous serves guests the flavor of New York with our “memorable,” “craveable” and “Instagrammable” food, with a focus on health, hygiene, and safety.

We provide a best-in-class experience for our guests and employees, while delivering strong financial performance for our shareholders and franchisees.

4 International

Revenue Streams and Businesses May Include: What’s Unique 1. Corporate Owned & Operated Restaurants 2. Sub-Franchised Restaurants About the 3. Multiple Formats: Ghost Kitchens, Kiosks, Carts, Trucks 4. Packaged Goods in Grocery & Convenience Stores Nathan’s 5. Food Service Sales to Restaurants 6. Wings of New York Famous International Opportunity?

5 The food that makes us famous

6 Four Food pillars

1. Burgers & Shakes2. Premium Heroes 3. Hand-Dipped Program 4. Hot Dogs & Fries 7 Brand Positioning marketing

9 Limited time offers

6 lto’s a year

fpo

10 Influencers

LEVERAGING THE POWER OF a following

11 Hot Dog Eating Contest

12 A fanatical • The Nathan’s Famous Hot Dog Eating Contest is broadcast live on ESPN every July 4. • Nathan’s Famous enjoyed coverage on NBC’s Today Show, ESPN’s SportsCenter, FOLLOWING ESPN Radio (multiple shows nationwide), BarstoolSports, CNBC, CNN, CNN Headline News, 1010 WINS, USA Today, The Associated Press, Sports Illustrated, BuzzFeed, Reuter’s, Bloomberg, TIME Magazine, NPR, FOX News, FOX’s Good Day NY, FOX’s Lock It In, TMZ, TMZ Sports, Deadspin, CBS Radio, The Rich Eisen Show and ESPN Magazine, national and worldwide entertainment programs, print online and radio

• The Nathan’s Hot Dog Eating Contest on July 4 generated over 28 billion media impressions (this is ALL media coverage, not just the ESPN broadcast), with a value of over $2.5 billion.

• All the regional qualifier’s media coverage in the months leading up to July 4 totaled a reach of over 240 million, and a media value of over $63 million. 13 the new normal

14 new paper products

15 food trucks and carts

• Affords full menu or smaller, flexible menu • Lower cost of investment; no rent • Mobile which allows to move locations and follow the crowds • Great brand exposure when you own a restaurant; acts as commissary too • Opportunities include catering, parties, weddings, events and much more 16 ghost kitchens

• Use existing kitchen – restaurant, food service, catering hall – to offer Nathan’s Famous branded menu through delivery

• Minimal upfront costs; another revenue stream; no building costs; no need to invest in things like signage or menuboards

17 Wings of New York

• Non-Nathan’s branded new chicken wing concept available through delivery-only platforms – Wings of New York

• Menu consists of chicken wings, hand-dipped chicken tenderloins, French fries and craveable toppings, over a dozen fantastic wing sauces from all over the Scoville scale, as well as made- from-scratch bleu cheese and ranch dipping dressings

• Easy concept to add operationally and no additional or limited equipment needed

18 RESTAURANT DESIGN & DEVELOPMENT

19 New Designs

new menu boards

20 New Designs

new menu boards

21 INTERNATIONAL

22 International

Nathan’s 9 Countries • International •Jamaica •Kazakhstan Restaurants: •Malaysia • •Philippines • •United Kingdom •UAE

23 International

Revenue Streams and Businesses May Include: What’s Unique 1. Corporate Owned & Operated Restaurants 2. Sub-Franchised Restaurants About the 3. Multiple Formats: Ghost Kitchens, Kiosks, Carts, Trucks 4. Packaged Goods in Grocery & Convenience Stores Nathan’s 5. Food Service Sales to Restaurants 6. Wings of New York Famous International Opportunity?

24 International

• Worldwide brand recognition for over 100 years Nathan’s • A wide variety of high-quality menu items adaptable to local tastes and pallets Offers: • Flexible menu that includes Nathan’s signature, world famous hot dogs and fries, New York’s Finest burger program, proprietary hand-dipped chicken and onion ring programs and more • Flexible and adaptable restaurant operations • Supply chain support • Assistance with importing proprietary food and paper products • Assistance with establishing in-country sourcing of brand- acceptable food items and paper products

25