GET IN THE 2018 FLAVOR BRAND OVERVIEW BUSINESS!

CONFIDENTIAL INFORMATION: Copying, dissemination or distribution of this information is strictly prohibited. A POWERFUL FAST-CASUAL BRAND

Category Unique Flavor Strong Tech Significant Leader Experience Value Forward Whitespace

• Largest national, fast • THE destination when • Individual combo • 20%+ of sales from • Long-term US unit casual wing-focused our guests crave fresh, meals range from online channels in the potential of ~2,500 chain in the U.S. cooked-to-order wings $7 – 9 USD in most U.S. — Q4 2016 (98% franchised) international markets • Balanced growth • 11 bold, distinctive and • Social at the core; across existing and • Over 1,000 craveable flavors on • Family packs have a engagement over new market categories in 40 states bone-in and boneless per person average 30% and 8 countries as of wings of $6 – 8 USD in most [Forbes, November 2014] • Emerging international December 2017 international markets footprint with no • Digital-first advertising direct competitors strategy with high ROI and significant global potential

2 Confidential Information — Do Not Distribute HISTORY AND ACCOLADES 2010 2013 2015 2017 ROARK CAPITAL GROUP WINGSTOP OPENS NEW WINGSTOP OPENS 100 INTERNATIONAL ACQUIRES WINGSTOP LOCATIONS IN RUSSIA IN THE U.A.E. LOCATIONS; 2002 AND OPENED , 1 BILLION OPENED , OVER WINGS SOLD OPENED COLOMBIA 1000 RESTAURANTS 1994 2009 2011 2014 2015 ORIGINAL WINGSTOP WINGSTOP SIGNS FIRST 500TH WINGSTOP OPENS IPO on NASDAQ: OPENS NEAR DALLAS, TEXAS INTERNATIONAL LOCATION OPENS NEW LOCATIONS IN WING (June 12) AGREEMENT THE PHILIPPINES & FRANCHISE AWARDS

RANKED 70TH IN FRANCHISE 500 TOP 10 FASTEST GROWING TOP 40, BEST FRANCHISES 2015 FRANCHISEE SATISFACTION ENTREPRENEUR (2015) CONCEPT LIMITED SERVICE CHAINS FOR AFRICAN AMERICANS — BEST FRANCHISE TECHNOMIC (2014) BLACK ENTERPRISE MAGAZINE FRANCHISE BUSINESS REVIEW (2015) TOP 10 BEST FRANCHISE DEALS (2014) THE BEST FRANCHISE DEAL 10 GREATEST FRANCHISE BETS MOST EFFECTIVE USE GREAT PLACE TO WORK CERTIFIED IN NORTH AMERICA (2016 – 2017) CNN MONEY (2011) OF SOCIAL MEDIA QSR MAGAZINE DFW INTERACTIVE MARKETING ASSOCIATION NAMED TO ZAGAT’S #3 TOP GROWTH CHAIN (2014, 2015) NATIONAL SURVEY #1 IN SYSTEM SALES GROWTH FASTCASUAL.COM GOLDEN CHAIN WINNER (2015) (2011) NATION NEWS 3 Confidential Information — Do Not Distribute AN ORGANIZATION OF PROVEN LEADERS

NAME + TITLE YEARS SELECTED PRIOR EXPERIENCE NAME + TITLE YEARS SELECTED PRIOR EXPERIENCE

Rave Restaurant Group, Kevin Koons Charlie Morrison 20+ Steak & Ale Restaurant, Fedex VP — International 12+ Domino’s President + CEO Kinkos, , Operations

Wendy’s, CBS, Larry Kruguer Stacy Peterson CBRE, Fedex Kinkos, 20+ Alamo Rent A Car, 15+ COO CXO Blockbuster American Express

Michael Cardinal Logistics, Madison Jobe Rave Restaurant Group, Skipworth 15+ 25+ KPMG Audit & Weaver CDO Ruby Restaurant Group, CFO

Rave Restaurant Group, Flynn Dekker Darryl Marsch Doughnuts, Inc., 20+ Fogo De Chao, Fedex Kinkos, 18+ CMO General Counsel RJ Reynolds Tobacco Co. Blockbuster 4 Confidential Information — Do Not Distribute

THE WINGSTOP MISSION TO SERVE THE WORLD FLAVOR We strive to deliver on our Our brand knows no The Craft, the Crave, commitments to our guests, boundaries due to our unique and the Culture. team members, franchisees product, complex flavors and & shareholders. commitment to quality. • Always cooked to order • Scratch-made sides and dips • Intensely loyal fan base • 100+ int’l locations in 8 countries outside the U.S., and we’re just • Hand-tossed seasoned fries • Best in class franchisee returns getting started • Menu appeal for individuals, • High growth, asset light model; • Portable concept; <1% global groups, families and events best of both worlds for investors closure rate in 2016 • Ubiquitous flavor profile works just about everywhere 6 Confidential Information — Do Not Distribute THE WINGSTOP PRODUCT OFFER

CLASSIC and SEASONED FRIES and BONELESS WINGS HOMEMADE SIDES Choose Classic or Boneless Wings or mix At Wingstop, we make our sides fresh daily. Ranch dressing made and match. Sauced, tossed and always from real buttermilk. Hand tossed & seasoned fries and so much FRESH cooked to order! more. When you make the best wings, only the best sides will do. SERVED PIPING-HOT

Our food is always made-to- order – no heat lamps or microwaves involved – and served hot.

PARTY PLATTERS FAMILY PACKS Our popular party platters will delight all Regardless if you enjoy Classic Wings, Boneless Wings or your friends. Great for parties or any special Boneless Tenders, Wingstop has a pack for you. Now you occasion. Our award-winning wings are can mix and match Classic Wings and Boneless Wings! guaranteed to suit every taste. Sauced and tossed in a variety of flavors, and sides complete a meal that will appeal to everyone. 7 Confidential Information — Do Not Distribute MILD CORE FLAVORS all the flavor minus the burn

ATOMIC HICKORY SMOKED BBQ a habanero fueled inferno sweet. smokey. rich.

MANGO HABANERO LEMON PEPPER sweet and spicy collide a hint of citrus and black pepper

CAJUN GARLIC PARMESAN hot with a southern twist savory and buttery

ORIGINAL HOT HAWAIIAN a blend of heat and tang big tangy island flavor

LOUISIANA RUB TERIYAKI a southern mix with hints of garlic bold and sweet asian spices

8 Confidential Information — Do Not Distribute Culinary innovation: FLAVOR drives MENU BUSINESS INNOVATION Hand-crafted, Flavor-focused, Consumer Research Social Media Market Monitoring Intelligence

FLAVOR EVENTS Product Idea No discounts or gimmicks Launch Creation

B:8.5” T:8.5” S:8.5”

LIMITED EDITION FLAVOR Honey siracha BOLD. EXOTIC. ADDICTING. B:11” S:11” T:11”

Flavor Concept PIRI PIRI PEPPERS WITH A HINT OF ZESTY CITRUS. Event CITY NAME 12345 STREET NAME • (123) 456-7890 SKIP THE WAIT. ORDER @ WINGSTOP.COM Testing

19812_WS_BCP_FSI_NoCoupons_RUN.indd R SAVED 2-3-2017 6:19 PM | BY Sara Leuty | PREVIOUSLY BY Sara Leuty | FILES SENT VIA BigFiles » Contact Kate Bridges · 816.423.6928 · [email protected] ROUND

JOB INFO APPROVAL & NOTES FONTS & IMAGES Fonts » Helvetica (Ultra Compressed), Futura (Extra Bold Condensed Oblique, Bold Oblique, Bold Condensed Oblique) Job 19812 Creative Director Katy/Corey Wingstop Images » BCPForcedPerspLayersC_Flat_CMYK.psd (CMYK; 765 ppi; 39.17%), bag_texture_white. Client Designer Edwing Mendez tif (Gray; 283 ppi, -284 ppi, 296 ppi; 141.05%, -141.05%, 134.97%), 103156_WingStop_Ex- Account Manager Kate Bridges Media Type CS6 plosion_v4_Flat_CMYK.psd (CMYK; 1337 ppi; 22.44%), BCP_Handwritten_White_texture_Flat_ Studio Artist Sara Leuty CMYK.psd (CMYK; 663 ppi; 45.23%) Bleed None Print Production None 4C Cyan, Magenta, Yellow, Black Trim 8.5” x 11” Proofreader None Inks » Live None

Publication None Notes » None

9 Confidential Information — Do Not Distribute COVETED

GUEST BASE MILLENNIALS • 18 – 34 year olds • Ethnically diverse • Group-centered occasions • 50% male / 50% female

FAMILIES • Flavor Orchestrators • Orders for the whole family

FLAVOR CRAVERS • Broad, loyal and diverse guest base attracted by unique flavor experience, product quality, brand personality and convivial nature of eating wings 10 Confidential Information — Do Not Distribute US BUSINESS The ONLY national fast- UNIQUE casual wing-focused concept! CONCEPT & POSITIONING

BAR CENTRIC PIZZA DELIVERY CONVENIENCE CASUAL DININGCASUAL

QSR CHICKEN SMALL REGIONAL SPEED STRENGTH REGIONAL

12 Confidential Information — Do Not Distribute INDUSTRY LEADING 2012 TO 2016 SSS STACKED SAME STORE SALES

47.3% ■ % 2016 3.2 ■ % 2015

7. 9 38.2% 37.7% ■ % 2014 35.7% ■ % 2013 ■ % 2012 12.5 6.3 26.2% ■ 24.0% 23.6% % Cumulative SSS 6.7 13.3 3.8 12.0 6.4 5.7 9.9 16.0% 6.9 6.6 13.9% 4.1 6.3 12.0% 7. 5 10.7 5.9 2.5 8.1% 8.0% 5.9 3.6 4.5 13.8 2.3 5.4 3.6 2.8

(1) (2) (2) (1) (3) (2) (1) (4) (1) (5) (6) (2) 13 Confidential Information — Do Not Distribute Source: Company filings Notes: (1)Domestic system-wide (2)Domestic company-owned (3)Global company-owned (4)Franchised (5)System-wide (6)Dunkin U.S. segment only ... AND INDUSTRY LEADING SALES TO INVESTMENT RATIO

3x 2.7x 2.6x 2.4x 2.4x 2.1x 1.8x 1.7x 1.4x 1.4x

(1) (1) (3) (4) (4) (5) (4) (6) (7) (4) (8)

Source: Company filings and 2015 Technomic Report (representing FY2014 financials) Notes: 1.Domestic system-wide 2.Global system-wide 3.FY2013 TechnomicAUV/ 2013 average investment cost 4.Domestic, company-owned 5.2013 data from Barclays 5/2014 Franchise Conference, 14 Confidential Information — Do Not Distribute Dunkin’ Donuts restaurants data 6.Uses 2014 annualized company-owned Average Weekly Sales (AWS) 7.Target unit economics 8.FY2014 TechnomicAUV/ 2014 target investment cost PROVEN CONCEPT ACROSS A VARIETY 40 STATE FOOTPRINT OF MARKETS with Room to Grow in All Markets(1) TOTAL US STORE COUNT – 922 AVERAGING ONLY 3 DOMESTIC CLOSURES PER YEAR SINCE 2013 15 Confidential Information — Do Not Distribute Note: (1) Restaurant count as of 12/31/16 ACCELERATING

153 PACE OF DEVELOPMENT 142 20

24 • 79% of current domestic pipeline 102 is from existing franchisees as 20 of 12/31/16 74 • Mix of single 530 57 133 503 518 and multi-unit 118 franchisees 363 35 10 82 4 274 64 6 53 29

2 011 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016

Gross New Unit Openings by Year Domestic Restaurant Opening Commitments RAPID UNIT DEVELOPMENT HEALTHY FRANCHISEE BASE ■ Domestic ■ International ■ Development Commitments 16 Confidential Information — Do Not Distribute INTERNATIONAL BUSINESS INTERNATIONAL EXPANSION

UNITED STATES Opened 1994 1,000 restaurants PHILIPPINES Opened July, 2014 11 restaurants MEXICO Opened Nov., 2009 60 restaurants Opened April, 2015 4 restaurants SINGAPORE Opened Dec., 2013 5 restaurants SAUDI ARABIA, MALAYSIA & COLOMBIA Opened 2017 INDONESIA Opened June, 2014 21 restaurants PANAMA, UK, & FRANCE Opening 2018 18 Confidential Information — Do Not Distribute Note: this data is pertinent through end of Q4 of 2016. ALTERNATIVE asset types, service models, FLEXIBLE format sizes with ATTRACTIVE environments INTERNATIONAL MODEL TAILORED to local market dynamics

OR

Contemporary design Sports theme design Order at counter Table service FAST- Table delivery and beer (optional) SPORTS- Full bar Digital menu boards CASUAL 20+ TV monitors & audio CASUAL DINING 120 –180 sq.m. 300 – 400 sq.m. 19 50 – 70 seats 150 – 200 seats RESTAURANT DESIGN

The INTERIOR design, seen here, is industrial, bold, comfortable and clean. It will be inviting to both millennials and diverse ethnic groups; our target demographics, looking for an affordable, fresh and quality experience. The unique, open kitchen with a view of the preparation of our made to order wings adds a level of entertainment to the occasion.

20 The Wingstop EXTERIOR design has eye-catching logo placement, floor RESTAURANT to ceiling glass, natural colors and lots of light. From the outside, guests DESIGN will be enticed to explore our flavor offerings and relaxing dining room.

21

INTERNATIONAL OUR DNA IS WINGS — bone-in and boneless, yet our focus is always flavor. Across the globe, MENU we introduce flavor variety through our appetizers, INNOVATION beverages, new entrees and desserts.

STREET CORN BOBA TEA SHAKE CHURROS CHICKEN S’MORES BROWNIE UAE, Mexico & KSA Indonesia Indonesia All International Markets Philippines

22 Confidential Information — Do Not Distribute

RESTAURANT Our SUPPORT CENTER is focused on providing the BEST SERVICE to SUPPORT our FRANCHISE PARTNERS. CENTER

Wingstop Franchisees and General Managers participate in an intensive, hands-on orientation that focuses on restaurant operations, administration, marketing and hospitality at the Wingstop Restaurant Support Center in Dallas, TX.

Our experienced team reviews demographic and psychographic criteria, as well as cultural and local needs to give your business the best opportunity for success. Subsequently, we help you customize the restaurant design, menu offerings and service model based on our guidelines. 23 Confidential Information — Do Not Distribute THANK YOU