RedRed RobinRobin GourmetGourmet BurgersBurgers

InvestorInvestor DayDay DecemberDecember 7,7, 20072007 ForwardForward LookingLooking StatementStatement

This presentation includes "forward-looking statements" within the meaning of the federal securities laws, commonly identified by such terms as “looking ahead,” “anticipates,” “estimates” and other terms with similar meaning. Although the Company believes that the assumptions upon which the financial information and its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company’s filings with the Securities and Exchange Commission on Forms 10-K and 10-Q. These factors include, among others, our ability to open and operate new restaurants and expand into existing or new markets; delay or failure of new restaurants to achieve profitability; ability to successfully integrate acquired restaurants; increases in costs; seasonality of sales; cost or availability of labor; the effectiveness of our new restaurant opening initiatives and our new advertising strategy; geographic concentration of our restaurants; impact of price increases on guest visits and changes in consumer preference and discretionary spending practices. All forward-looking statements in this presentation are expressly qualified by such cautionary statements and by reference to the underlying assumptions. These statements are not guarantees of future performance and therefore undue reliance should not be placed on them.We do not undertake to publicly update forward-looking statements, whether as a result of new information, future events or otherwise. WelcomeWelcome

Red Robin has an unparalleled and extraordinary approach to Guest service known as Unbridled Acts. There are thousands of stories of Red Robin Team Members who live our values through random acts of kindness they bestow upon restaurant Guests and other Team Members. Each Unbridled Act®, regardless of size, is a true testament to our amazing culture and the care we take for each and every Guest — and even our own Team Members. DennyDenny MullenMullen

ChairmanChairman andand ChiefChief ExecutiveExecutive OfficerOfficer GoalsGoals forfor OurOur MeetingMeeting

¡ Exposure to senior management team

¡ Show the new prototype building

¡ Understand concept differentiation

¡ Update on 2007 initiatives & results

¡ Focus for 2008 AgendaAgenda forfor TodayToday

¡ Introduce management - Denny

¡ Concept differentiation – Eric

¡ NRO initiative – Eric

¡ Building cost reduction initiative – Todd

¡ Development process – Todd

¡ Marketing and National media campaign – Susan

¡ Financials and Franchise acquisitions– Katie

¡ Wrap up – Denny

¡ Q&A - All DennyDenny MullenMullen

¡ Introduction of Management Team ‘ Dennis Mullen, Chairman & CEO ‘ Eric Houseman, President & COO ‘ Katie Scherping, SVP & Chief Financial Officer ‘ Todd Brighton, SVP & Chief Development Officer ‘ Susan Lintonsmith, SVP & Chief Marketing Officer ‘ Annita Menogan, SVP & Chief Legal Officer ‘ Mike Woods, SVP & Chief Knowledge Officer ‘ Jeff Neely, VP and Chief People Officer ‘ Chris Laping, VP and Chief Information Officer ‘ Jeff Melnick, Regional Vice President Southwest ‘ Ed Taliaferro, Regional Vice President Northwest & Midwest ‘ Tim Kaliher, Regional Vice President East ThoughtsThoughts onon 20082008

¡ Difficult macro environment – uncertain consumer

¡ Continuation of 2007 focus areas: ‘NRO normalcy institutionalized ‘Disciplined growth strategy ‘National Media Campaign ramp up ‘4-walls execution

¡ 2008 expectations and financial guidance will be provided in mid-February 2008 EricEric HousemanHouseman

PresidentPresident andand ChiefChief OperatingOperating OfficerOfficer CornerstonesCornerstones ConceptConcept OverviewOverview

¡ Unique brand positioning ‘Offer high quality, imaginative menu items ‘Create a fun and memorable dining experience ‘Provide exceptional dining value with broad consumer appeal

¡ Capitalize on key demographic trends

¡ Significant growth opportunity TheThe SameSame GreatGreat MenuMenu ImaginativeImaginative andand CravableCravable FoodFood ImaginativeImaginative andand CravableCravable FoodFood ImaginativeImaginative andand CravableCravable BeveragesBeverages UniqueUnique BrandBrand PositioningPositioning

¡ Family-friendly atmosphere attracts teens, tweens, and high-income women ¡ Uniquely positioned between casual dining & fast- casual ‘$11.06 YTD average check – one of the lowest in the industry ‘37-42 minute dining experience X“We wait on our Guest, they never wait on us” UniqueUnique BrandBrand PositioningPositioning

Strong Value Proposition

Low Average Check Drives Customer Traffic at Lunch (49%) and Dinner (51%)

$18.00

$15.00 $12.98 $13.07 $12.45 $12.51 $11.06 $11.28 $11.50

Applebee's Ruby Chili's O'Charley's TGI California Olive Red Red Robin Tuesday Friday's Pizza Garden Lobster Gourmet gers Kitchen Bur UniqueUnique BrandBrand PositioningPositioning

¡ 70% of family meal decisions heavily influenced by teens/tweens ¡ Red Robin averages more Guests under 18 than the casual-dining average

Demographic Comparison - Age

6% 10% 8% 7% 12% 12% 13% 15% 15% 16% 16% 19% 22% 23% 23% 22% 18% 24% 30% 29% 33% 34% 32% 27%

29% 22% 21% 20% 22% 17%

Red Robin Applebees Chili's TGIF Olive Garden Casual Dining

<18 18-34 35-49 50-64 65+

Crest, The NPD Group, year-end 2006 UniqueUnique BrandBrand PositioningPositioning

¡ Strong brand loyalty - one third of guests generate over 70% of business ¡ Attract high income families, including women, teens and tweens

Household Income: Distribution of Guests

22% 21% 34% 29% 32% 29%

18% 15% 17% 17% 17% 17% 28% 32% 25% 26% 26% 29%

19% 18% 18% 14% 16% 14% 13% 12% 13% 12% 7% 11% Red Robin Applebees Chili's TGIF Olive Garden Casual Dining

less than $25,000 $25,000 - 45,000 $45,000 - 75,000 $75,000 - 100,000 $100,000 +

Crest, The NPD Group, year-end 2006 NRONRO INITIATIVEINITIATIVE WhereWhere WereWere We?We?

NROs – Existing Market

RRGB Existing Market NRO*

$80,000

Non-Comp Timeframe Comp Timeframe $75,000

$70,000 Non-Comp AUV is 90%-97% of Comp

$65,000 AUV

$60,000 Negative Comps Comp AUV =$63K

$55,000

87% of comp averge $50,000 Q1 Q2 Q3 Q4 Q5 Q6 Q7 Q8 Q9 Q10 Q11 Q12 Period of Time Open

*For Illustrative purposes only; not intended to represent any NRO or class of NROs. Represents a blend of new and existing NROs. WhereWhere WereWere We?We?

NROs – New Market

RRGB New Market NRO*

$80,000

Non-Comp Timeframe Comp Timeframe $75,000

$70,000 Non-comp AUV is 80-85% of Comp Comp AUV =$63K $65,000 AUV

$60,000

Negative Comps $55,000 79% of comp avg $50,000 Q1 Q2 Q3 Q4 Q5 Q6 Q7 Q8 Q9 Q10 Q11 Q12 Period of Time Open

*For Illustrative purposes only; not intended to represent any NRO or class of NROs. Represents a blend of new and existing NROs. WhereWhere WereWere We?We?

NROs – RLOP Margin

NRO RLOP Margin Ramp-up

Non-Comp Timeframe Comp Timeframe

25%

20%

15% RLOP % 10%

5%

0% Q1 Q2 Q3 Q4 Q5 Q6 Q7 Q8 Q9 Q10 Q11 Q12

NRO RLOP % COMP RLOP %

*For Illustrative purposes only; not intended to represent any NRO or class of NROs. NRONRO ProcessProcess SummarySummary NRONRO ProcessProcess DetailDetail 1111 CriticalCritical NRONRO IngredientsIngredients andand 33 CriticalCritical NRONRO ResultsResults SELECTIONSELECTION LeadershipLeadership SelectionSelection

¡ Benchmarking

¡ Assessments

¡ Long-term Development

¡ Scorecard AssessmentsAssessments

¡ Achiever ¡ DISC ¡ Hartman LeadershipLeadership ScorecardScorecard

¡ Seasoned? ¡ How much RR experience? ¡ How much NRO experience? ¡ Systems certified? ¡ Tools certified? ¡ Training certified? SeasonedSeasoned LeadershipLeadership

¡ 2006 NRO Openings ~ 20% seasoned leaders

¡ 2007 NRO Openings ~ 70% seasoned leaders

¡ 2008 NRO Openings identified >90% seasoned leaders SuccessionSuccession PlanningPlanning

Having the Right Bench Strength

Succession Planning is the ongoing process that identifies, develops and retains the right people to ensure we have the next generation of leaders to sustain Red Robin’s growth and culture. TRAININGTRAINING MITMIT ProgramProgram

Purpose: ¡ 8-week training program in a Certified Training Restaurant to develop the future leaders of Red Robin Gourmet Burgers.

Materials: ¡ CLUB Red – Front of House / General Managers ‘ Creating a Legacy of Unbridled Believers ¡ CHEF Red – Kitchen Managers ‘ Creating Heart of the House Exceptional Food Quality ¡ Resource: ‘ Reading material and reference information ¡ Passport: ‘ Training workbook (quizzes, worksheets, certifications, etc.) NRONRO NormalcyNormalcy WorkshopWorkshop

Purpose: ¡ Better prepare our leadership teams to successfully open and normalize NROs

Topics have included: ¡ Leading Change ¡ NRO Scorecard ¡ Labor Management ¡ Food / Inventory Management ¡ Sales Team Training Certification ¡ Heart of House (HOH) Training Certification HOHHOH TrainingTraining CertificationCertification PrePre--TrainedTrained && TransferredTransferred TMsTMs

Purpose: ¡ Leverage strengths and experience of neighboring restaurants ¡ Build a stronger NRO team: ‘Support new Team Member training prior to the restaurant opening ‘Build new restaurant bench strength by transferring experienced Team Members ComputerComputer BasedBased TrainingTraining

¡ MenuLink – Food & Inventory System ¡ NuSTaRs – Labor Management System ¡ Burgermaster* – FOH recipe knowledge ¡ Burger Builder* – HOH recipe knowledge ¡ Menu Tour* – FOH menu item location & ingredient knowledge

* Currently in development for Q1 FY08 NEWNEW RESTAURANTRESTAURANT DEVELOPMENTDEVELOPMENT NRONRO SupportSupport

¡ Creation of New Restaurant Development (NRD) Department ¡ 1K Program (collaborative work flow tool) ¡ 42 Day Building Turnover ¡ Senior GM ¡ Pre and Post Support ¡ NRO Budget Management RESULTSRESULTS

““GettingGetting thethe GuestGuest whatwhat theythey want,want, howhow theythey wantwant it,it, inin aa timely,timely, respectfulrespectful manner.manner.”” SuccessSuccess MeasurementsMeasurements

¡ Average Unit Volumes (AUV) – 1st 6 weeks

¡ Sales Retention – rolling 6 weeks

¡ Profit Normalization

¡ Close the gap between new and existing market performance 20072007 vs.vs. 20062006 NRONRO AUVAUV ComparisonComparison

¡ 1st 6 weeks of sales 12%

¡ 2nd 6 weeks of sales 10%

¡ 3rd 6 weeks of sales 11%

¡ 4th 6 weeks of sales 9% OperationalOperational MeasurementsMeasurements

¡ Gift of Time Report

¡ Operations Scorecard

¡ Training Certification Measurements GiftGift ofof TimeTime ReportReport OperationsOperations ScorecardScorecard ResultsResults SoSo FarFar

¡ Improved AUVs in 1st 6 weeks – 12% higher than 2006 opening class

¡ Sustaining higher AUVs measured in 6-week increments

¡ Non-comparable AUVs vs. Comparable AUVs as a percentage = 91+% for Q2 & Q3 2007 vs. average of ~87% in 2006

¡ Profitability focus – labor and food cost NRONRO RecipeRecipe ToddTodd BrightonBrighton

SeniorSenior ViceVice PresidentPresident andand ChiefChief DevelopmentDevelopment OfficerOfficer ToddTodd BrightonBrighton

¡ Cost reduction initiative

¡ Growth opportunities & market potential

¡ Site selection criteria

¡ Store development process

¡ Franchise Partner development CostCost ReductionReduction InitiativeInitiative

¡ Starting point full year 2005/early 2006 units average cost to build = $2.5 million

¡ Phase 1: objective to reduce cost without impacting the guest experience

¡ Phase 1 results = $150,000 savings in 99.12 prototype building CostCost ReductionReduction InitiativeInitiative ((concon’’tt))

¡ Phase 2: objective to develop a smaller prototype with same seating capacity

¡ 2007A prototype ~5,600 sq. ft. with cost savings of an additional $150,000 ‘Company built 5 units: Georgia (4/16), North Carolina (7/30), Florida (8/13), Colorado (11/5), Illinois (11/12) ‘Franchise Partner built 1 unit, Michigan (9/17) ‘2008 approximately 75% of units will be 2007A prototype FloorFloor PlanPlan ChangesChanges

Reduced Overall Square Footage 5,532 sq. ft. vs. 6,350 sq. ft. Deleted Patio & Trellis Straight Bar – Not Curved Reduced Millwork Reduced Cost of Restroom Finishes Self Contained Refrigerated Equipment No Team Restroom Looking at Changing to Carpet & Tile vs. All Tile

2007-A2007-A 99.1199.11 GrowthGrowth OpportunitiesOpportunities && MarketMarket PotentialPotential

Year end 2007  384 units ‘ RRGB = 250 ‘ FP = 134  40 states in US  Average Guests per day >800 UnitUnit GrowthGrowth OpportunitiesOpportunities

Substantial New Unit Opportunity to Expand Chain in U.S.

1,887

1,238

878 600 614 651 384

Red Robin TGI Friday's Olive Red Lobster Ruby Chili's Applebee's Garden Tuesday

Note: Total North American locations as per recent SEC filings or company website disclosures GrowthGrowth OpportunitiesOpportunities

¡ Concept widely accepted across the US & Canada

¡ Well positioned to take advantage of slowdown in growth and changes in course at other casual diners

¡ 1,000 plus unit potential for Red Robin

¡ Growth opportunities where there are kids, women, families with the right demographics who love hamburgers SiteSite SelectionSelection

¡ Types of sites vary – regional malls, Big Box power center, life style center

¡ Prototype flexibility allows for executing in a variety of locations

¡ Population density

¡ Day-part population

¡ Income levels

¡ Availability of prime locations/relationship with Real Estate developers StoreStore DevelopmentDevelopment ProcessProcess

2008 development expectations:

¡ 30 to 33 units

¡ 10 units currently under construction

¡ ~ 60% of 2008 operating weeks from new units in EXISTING markets

¡ Development plans fairly even through 2008 on a quarterly basis

¡ Total operating weeks from new unit openings expected to grow between ~ 7 - 8% from 2007

¡ ~75% to be built using the 2007A prototype StoreStore DevelopmentDevelopment ProcessProcess ((concon’’tt))

¡ Experienced development team

¡ Proven execution of development cycle builds strong relationship with Real Estate developers FranchiseFranchise PartnerPartner DevelopmentDevelopment

¡ Number of Franchise Partners operating Red Robin restaurants: 24

¡ Number of Franchise Partners actively developing: 14

¡ 2008 Franchise Partners are expected to open approximately 11 to 13 units SusanSusan LintonsmithLintonsmith

SeniorSenior ViceVice PresidentPresident andand ChiefChief MarketingMarketing OfficerOfficer SusanSusan LintonsmithLintonsmith

¡ Brand positioning & architecture

¡ Guest perception and core occasions

¡ Marketing & communications

¡ 2007 National media campaign

¡ 2008 National media strategy BrandBrand PositioningPositioning StatementStatement

Target For fun loving families who want quality Audience food in an energetic fun environment

Point of Red Robin is the gourmet burger expert Reference

Benefit That offers fun, craveable, signature food delivered by happy, upbeat and respectful Team Members with a “no-problem” attitude

Support Because our unbridled culture gives TMs the freedom to customize the guest experience.

BrandBrandBrand ArchitectureArchitectureArchitecture Core Essence Our Cornerstones Personality • Fun, energetic, upbeat • Fresh, young at heart, confident • Americana • ‘irreverent”, edgy • Come as you are • Happy and humorous; celebratory Benefits • Fun, craveable, signature items • Upbeat, happy servers with a “no-problem” attitude • Customized experience • Bottomless steak fries and beverages • Quality & quantity Key Attributes • Fresh; freshly prepared / customized • Kids, fun, balloons, game room, TVs • Wholesome/high values (safe environment and food) • Gourmet / innovative burgers • Ample staffing with unbridled culture

GuestGuest PerceptionPerception MapMap

Source: Red Robin USA: Perceptual Map Analysis; by Data Development Worldwide, February 2007. CoreCoreCoreCore OccasionsOccasionsOccasionsOccasions forfor forfor RedRed RedRed RobinRobin RobinRobin

“Pleases Young “Mom and Kids on “Family Time With “Weekday Kids” the Go” Teens” Lunch”

Families with kids Females with children Dual-income Adults at a <12. Unplanned <18; out and about; households with weekday lunch. weekend dinner want a kid friendly teens. Unplanned Want a place occasion; want a place where they can weekend dinner to where they can get good place to get in and out quickly. spend time with the a quick entrée that spend time with family. Wants is served fresh. the family. beverage variety including alcohol.

Source: 2005-2007 Red Robin Segmentation Study (Data Development Worldwide) TheThe RedRed RobinRobin GuestGuest MarketingMarketing && CommunicationCommunication

¡ Drive Brand Understanding, Trial and Frequency

¡ Primary Marketing Vehicles:

‘National cable television advertising

‘National internet media advertising

‘Local restaurant marketing campaigns

‘eClub / loyalty promotions

‘National / in-restaurant promotions 20072007 NationalNational MediaMedia AdvertisingAdvertising

2007 Campaign

¡ 11 weeks on national cable television

‘April 9 to June 10 (6 total weeks on air)

‘August 13 to September 30 (5 weeks on air)

¡ 31 weeks of online internet advertising

¡ 1% system wide contribution = $11.5 million investment AwardAward winningwinning RedRed RobinRobin Commercials:Commercials: 20072007 Tempt Test Dye Pack

Our 2007 TV Spots won an award for the best Advertising for a company with over $500 million in sales by National Restaurant Association (Oct 2007). 20072007 NationalNational MediaMedia AdvertisingAdvertising

2007 Campaign influence:

¡ Traffic up versus prior year:

‘Q1 07 = -3.6%

‘Q2 07 = +0.7% Media started

‘Q3 07= +1.1%

¡ RRGB guest count trend – strong performer vs. Knapp-Track™ Casual Dining Index during 2007

¡ Total brand awareness up significantly vs. prior year GuestGuest TrafficTraffic TrendsTrends vs.vs. KnappKnapp--TrackTrack™™

Red Robin’s Guest Count Performed Favorably Against Casual Dining Average

5% 4.1% 4%

3% 1.8% 2% 1.1% 0.9% 1% 0.7% 0% -1% -0.9% -0.3% -0.6%

-2% -2.3% -2.6% -3% -3.0% -2.9% -3.5% -3.6% -4% -4.2% -4.0% -5% Q4'05 Q1'06 Q2'06 Q3'06 Q4'06 Q1'07 Q2'07 Q3'07

RRGB Casual Dining Average

Casual dining averages obtained from Knapp & Associates AwarenessAwarenessAwarenessAwareness ofof ofof RedRed RedRed RobinRobin RobinRobin significantlysignificantly significantlysignificantly increasedincreasedincreasedincreased inin inin20072007 20072007 Aided Awareness Summary for Red Robin Random Incidence in RR Zip Code Areas*

12 35 26 Not Aware

88 % 74 65 Aware

2005 2006 2007

Statistically different from prior year at a 95% confidence level.

* Includes all consumers in the RR zip code areas; Statistically significant sample sizes (over 2000 consumers per year)

Source: Red Robin 2005-2007 Annual Segmentation Study (by Data Development Worldwide); conducted in Oct. each year 20082008 NationalNational MediaMedia AdvertisingAdvertising

2008 Campaign Strategy

¡ 24 weeks on national cable television (+118% from 2007) ‘ Nearly 11 months of coverage (early Feb. to mid-Nov.) ‘ 54% more cable GRPs than 2007 ‘ 73% more :30 spots than 2007 ‘ Additional media channels X :10 network spots X online network video

¡ Continued strong targeted Internet plan

¡ 4 new commercials (same campaign) funded by Cooperative Advertising budget

¡ 1.5% system-wide contribution to start 1/08 (~$18-$19 mil.) KatieKatie ScherpingScherping

SeniorSenior ViceVice PresidentPresident andand ChiefChief FinancialFinancial OfficerOfficer KatieKatie ScherpingScherping

¡ Year to date Q3 2007 performance

¡ 2007 Full year guidance

¡ 2007 Full year guidance vs. 2006

¡ Franchise acquisition Q3Q3 YTDYTD 20072007 FinancialFinancial ResultsResults

Forty weeks ended One-time Adjusted non- October 7, 2007 charges GAAP results Restaurant revenues$ 567,161 97.9%$ 567,161 97.9% Restaurant operating costs 452,821 79.9% 452,821 79.9% Restaurant level operating profit$ 114,340 20.2%$ 114,340 20.2% Add - other revenue 12,474 2.2% 12,474 2.2% Deduct - other operating: Depreciation and amortization 32,819 5.7% 32,819 5.7% General and administrative 47,762 8.2% (266) (a) 47,496 8.2% Pre-opening costs 6,184 1.1% 6,184 1.1% Legal settlement 1,653 0.3% (1,653) - 0.0% Reacquired franchise costs 1,821 0.3% (1,821) - 0.0%

Total other operating costs 90,239 15.6% (3,740) 86,499 14.9% Income from operations 36,575 6.3% (3,740) 40,315 7.0% Total other expenses 6,777 1.2% 6,777 1.2% Provision for income taxes 9,237 1.6% (1,159) 10,396 1.8% Net income$ 20,561 3.5% (2,581) $ 23,142 4.0% Diluted earnings per share$ 1.22 $ (0.16) $ 1.38 ($'s in 000's) (a) Acquistion integration related expense Source: Schedule 1 - 11/8/2007 Press Release Q3Q3 20072007 BalanceBalance SheetSheet

October 7, 2007 December 31, 2006 Assets: Cash$ 9,702 $ 2,762 Total current assets$ 36,938 $ 29,283 Property and equipment, net$ 394,121 $ 351,736

Liabilties: Total current liabilities$ 90,006 $ 70,162 Total liabilities $ 261,048 $ 207,065

Credit Agreement: Current portion of term loan$ 11,250 - Long-term portion of term loan 135,937 - Long-term revolving loan -$ 99,000 Letters of credit 4,459 4,647 Total outstanding$ 151,646 $ 103,647 Total available* 300,000 200,000 Net available$ 148,354 $ 96,353 ($'s in 000's) * 2007 Revised agreement allows for an additional $100 million at borrower's request and lender participation.

Summary information from Q3 2007 10Q filing. 20072007 FullFull YearYear GuidanceGuidance

¡ SSS% = 2.5%-3.0% ‘ Includes price of 0.9% taken in April 2007 and approx. 3.1% in August.

¡ Revenue = $763.0M to $767.0M

¡ Company Development = 26 units with 60% of operating weeks in new markets / 40% in existing markets

¡ Franchise Development = 14 units

¡ G&A Leverage 40 bps year over year

¡ GAAP EPS = $1.70-$1.74 per share ‘ Includes $0.28-$0.30 impact from stock compensation expense ‘ Includes TRV acquisition charge of ($0.08), litigation settlement of ($0.07), acquisition integration costs of ($0.01), partially offset by TRV accretion of +$0.05. 20072007 FullFull yearyear guidanceguidance vs.vs. 20062006 ResultsResults

One-time Adjusted non-GAAP Full Year 2007 Guidance charges results Restaurant revenues$ 763 $ 767 $ 763 $ 767 Diluted earnings per share$ 1.70 $ 1.74 $ 0.16 $ 1.86 $ 1.90

One-time 53rd week Adjusted for 52 week Full Year 2006 charges impact comparison Restaurant revenues$ 603 $ (14) $ 589 Diluted earnings per share$ 1.75 0.07$ (0.11) $ 1.71 Year over year growth - revenue 29.5% 30.2% Year over year growth - diluted earnings per share 8.8% 11.1%

($'s, except per share amounts in 000's) Source: Q3 2007 10Q filing DiverseDiverse FoodFood && BeverageBeverage OfferingsOfferings

Q3 2007 Food Sales Q3 2007 Total Sales

Food 79.5% Soups Desserts Appetizers 2% 1% 11% Beef Burgers Kids Menu 35% 7%

Sandwiches 9%

Salads 10% Other Entrees Burgers* Non Alcoholic Alcoholic 8% Beverages 17% Beverages 14.0% 6.5%

* Includes Chicken, fish, turkey, pot roast, veggie and other Q3Q3 ’’0707 CommodityCommodity LandscapeLandscape

% of Food & % of Sales Bev Costs Spot or Contract ? Poultry 3.2% 13.0% Contract thru 12/08 Hamburger 2.4% 10.5% Spot Produce 2.3% 9.9% Mixed Fries 1.9% 8.3% Contract thru 11/08 Bread 1.7% 7.4% Contract thru 12/08 Cheese 1.7% 7.4% Contract thru 4/08 Seafood 1.0% 3.7% Contract thru 5/08 Meat 0.9% 3.4% Contract thru 12/08 Dairy 0.5% 2.1% Mixed Other/Misc 4.1% 17.4% Mixed Non-Alcoholic 2.6% 10.9% Contract thru 2011 Alcoholic 1.4% 6.0% Mixed Rebates -0.8%

Total Food & Beverage 22.9% 100.0% FranchiseFranchise AcquisitionsAcquisitions

¡ 2006 Washington Acquisition ‘ 13 restaurants ‘ AUVs $4.3 million ‘ Purchase price: $42 million ‘ 2006 Accretion of $0.05, excluding one-time charge of $0.07

¡ 2007 California Acquisition ‘ 16 existing restaurants (1 managed) ‘ AUVs $3.3 million ‘ Purchase price: $47.5 million ‘ Earnout provision up to additional $3 million ‘ 2007 Accretion of $0.05, excluding one-time charge and integration expense of $0.09 FranchiseFranchise AcquisitionAcquisition RationaleRationale

¡ Acquisition of existing restaurants have certainty of performance

¡ Investment in units without any pre-opening expense

¡ Opportunity to develop territory previously owned by Franchise Partners

¡ Immediately accretive (excluding reacquired franchise costs) to earnings

¡ Return on investment very high DennyDenny MullenMullen

ChairmanChairman andand ChiefChief ExecutiveExecutive OfficerOfficer WrapWrap UpUp

¡ Experienced management team

¡ Differentiated concept

¡ Strong value proposition

¡ Significant development opportunities

¡ Strong balance sheet to support future growth Questions??Questions??