BRANDS FRESH. AUTHENTIC. TASTY. Investor Presentation January 2022 CREAMERY® GREAT 48 AM Cookies native grill 箭 wings FAZOLI'S PRETZELMAKER YALLA. mediterranean LEGAL DISCLAIMER 2 This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the future financial performance and growth of the Company, the Company's ability to open stores in the development pipeline, and the Company's ability to conduct future ...

Table of Contents Title of each class Trading Symbol(s) Name of each exchange on which registered Class A Common Stock, par value $0.0001 per share FAT The Nasdaq Stock Market LLC Class B Common Stock, par value $0.0001 per share FATBB The Nasdaq Stock Market LLC Series B Cumulative Preferred Stock, par value $0.0001 per share FATBP The Nasdaq Stock Market LLC Warrants to purchase Common Stock FATBW The Nasdaq Stock Market LLC UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ...

BRANDS FRESH. AUTHENTIC. TASTY. Earnings Supplement Q2 2021 August 5th, 2021 AIPLE IF IN I GRILL & WINGS ooki CAFE | EXPRESS PRETZELMAKER YALLA. mediterranean LEGAL DISCLAIMER 4 This Earnings Supplement contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the future financial and operating results of the Company, including estimates of annual EBITDA, our ability to integrate the Global Franchise Group brands and cond ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 27, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-38250 FAT Brands Inc. (Exact name of registrant as specified in its charter) Delaware 82-1302696 (State or other jurisdiction of incorporation or organization) (I. ...

Financial Highlights - System-wide sales increased by 353% compared to Q1 2020[3] - Same-store sales (SSS) grew by 78% compared to Q1 2020[4] - System-wide sales reached $1144 million[5] - Total revenue was $66 million in Q1 2021[5] - Adjusted EBITDA was $11 million in Q1 2021[5] Sales Performance - System-wide sales in Q1 2020 were $477 million, Q2 2020 were $732 million, Q3 2020 were $849 million, Q4 2020 were $1069 million[7] - Average weekly sales improved by 50% in April 2021 compared to March 2021[8] Financing - The company completed a whole business securitization with the closing of $1445 million Series 2021-1 Fixed Rate Asset-Backed Notes on April 26, 2021[8] - The securitization was priced with a weighted average fixed interest rate of 592% per annum[9]

Financial Performance - Total revenues for the thirteen weeks ended March 28, 2021, were $6,649,000, an increase of 50.3% from $4,423,000 for the same period in 2020, primarily due to the acquisition of Johnny Rockets[207]. - The net loss for the thirteen weeks ended March 28, 2021, was $2,432,000 compared to a net loss of $2,370,000 for the same period in 2020, indicating a slight increase in losses[206]. - General and administrative expenses rose to $4,926,000 for the first quarter of 2021, up from $3,531,000 in the first quarter of 2020, reflecting an increase of 39.5%[209]. - Other expenses totaled $2,665,000 for the first quarter of 2021, compared to $2,090,000 for the same period in 2020, marking an increase of 27.5%[211]. - Advertising expenses increased to $1,192,000 in the first quarter of 2021 from $931,000 in the first quarter of 2020, reflecting a rise of 28.1%[210]. - The company’s refranchising efforts resulted in operating costs of $427,000 in the first quarter of 2021, down from $539,000 in the same period of 2020[210]. Cash and Liquidity - The company reported a cash and restricted cash balance of $4,915,000 as of March 28, 2021, down from $7,211,000 as of December 27, 2020[219]. - The company expects its liquidity position to be sufficient for the twelve months following the issuance of the Form 10-Q, aided by improved operating performance post-COVID-19[218]. - Net cash used in investing activities decreased by $2,840,000 in the thirteen weeks ended March 28, 2021 compared to the prior year[227]. - Net cash from financing activities decreased by $12,950,000 in the thirteen weeks ended March 28, 2021 compared to the prior year, with proceeds from borrowings being $37,271,000 higher in 2020 due to the sale of Series A-2 and B-2 Notes[228]. Financing Activities - On April 26, 2021, the company completed a private offering of fixed-rate secured notes, resulting in net proceeds of approximately $57 million[217]. - The Series A-2 and B-2 Notes had a combined face amount of $40,000,000, with net proceeds from the issuance being $37,389,000 after discounts and debt offering costs[232]. - Approximately $24,730,000 of the proceeds from the Series M-2 Notes were used to acquire Johnny Rockets, with the remaining balance available for working capital[236]. - Scheduled principal payments of $1,000,000 per quarter on each of the Series A-2 and B-2 Notes are expected to begin in the second quarter of 2021[238]. Corporate Governance - The Board of Directors declared a cash dividend of $0.13 per share, totaling $1,590,000, payable on May 7, 2021[229]. - The Management Agreement provides for a management fee of $200,000 per month, subject to a 3% annual increase[239]. - As of March 28, 2021, FAT Royalty was in compliance with the financial and non-financial covenants associated with the 2020 Securitization Notes[242]. Regulatory and Compliance - The 2021 Securitization Notes included an initial principal amount of $97,104,000 for Series 2021-1 Fixed Rate Senior Secured Notes, Class A-2[244]. - The Company does not have any material commitments for capital expenditures as of March 28, 2021[247]. - The Company is classified as a Smaller Reporting Company (SRC) and is adopting the deferral period for ASU 2016-13, allowing implementation until fiscal periods beginning after December 15, 2022[259]. - The Company is currently evaluating the impact of ASU 2016-13 on its consolidated financial statements but does not expect a material impact[259].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.0001 per share FAT The Nasdaq Stock Market LLC Series B Cumulative Preferred Stock, par value $0.0001 per share FATBP The Nasdaq Stock Market LLC Warrants to purchase Common Stock FATBW The Nasdaq Stock Market LLC FORM 10-K (Mark One) [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the f ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.0001 per share FAT The Nasdaq Stock Market LLC Series B Cumulative Preferred Stock, par value $0.0001 per share FATBP The Nasdaq Stock Market LLC Warrants to purchase Common Stock FATBW The Nasdaq Stock Market LLC FORM 10-Q (Mark One) [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For th ...

BRANDS FRESH. AUTHENTIC. TASTY. Q3 2020 - Earnings Supplement November 10, 2020 YALLA mediterranean LEGAL DISCLAIMER 2 This earnings supplement of FAT Brands Inc. ("we", "our" or the "Company") contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the future financial and operating results of the Company, the Company's ability to leverage its expertise and infrastructure and successfully integrate and exploit the syne ...

Financial Data and Key Metrics Changes - System-wide sales increased from $42 million in Q2 2020 to $68 million in Q3 2020, representing a 63.2% increase [8] - Total revenue rose to $4.1 million from $3.1 million in Q2 2020, with system-wide sales increasing 52% quarter-over-quarter [19] - Adjusted EBITDA was $621,000 compared to $2.3 million in Q3 2019, reflecting the challenges faced during the pandemic [21] Business Line Data and Key Metrics Changes - Franchisees opened 12 new stores in Q3 2020, bringing the year-to-date total to 15 stores, with expectations to close 2020 with 57 new stores compared to 24 in 2019 [10][11] - The burger brands showed a quick recovery, with Hurricane and Buffalo's Cafe brands demonstrating strong resilience, comping over 100% on a weekly basis [19] Market Data and Key Metrics Changes - The company reported that 25% of its stores were temporarily closed due to COVID-19, with significant closures in the Johnny Rockets brand, particularly in cruise ships and amusement parks [53][55] - The company has a strong presence in states with favorable weather conditions, which mitigates the impact of winter closures [31] Company Strategy and Development Direction - The acquisition of Johnny Rockets for approximately $25 million is expected to significantly enhance revenues and EBITDA, with projections indicating a potential 50% increase in revenues and 100% increase in EBITDA on a normalized basis [12][13] - The company is focused on organic growth and plans to continue opening new stores while supporting franchisees with enhanced delivery options and marketing initiatives [11][14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about recovery as the vaccine rollout progresses, anticipating a strong recovery for Johnny Rockets and overall growth for the company [26][38] - The company is generating positive cash flow and is well-positioned for growth, with plans to refinance its securitization facility to lower capital costs [36][40] Other Important Information - The company raised $9 million through a public offering of preferred stock, simplifying its capital structure and demonstrating confidence from insiders [17][18] - The company is actively exploring additional acquisitions but prioritizes executing the integration of Johnny Rockets [42][46] Q&A Session Summary Question: Can you discuss the synergies from the Johnny Rockets acquisition? - Management noted significant synergies and expressed optimism about the brand's recovery post-COVID, although specific Q4 revenue projections were not provided [25][26] Question: What is the current status of the steakhouse brands? - The steakhouse brands have faced challenges, with some permanent closures, but management indicated that they represent only 8% of revenue going forward [30] Question: How is the company positioned for winter weather challenges? - Management stated that most restaurants are in favorable climates, and they have prepared franchisees for winter operations with outdoor dining solutions [31] Question: What is the update on the Fog Cutter Capital transaction? - Management confirmed that negotiations are ongoing and they hope to complete the transaction by the end of the year [32] Question: Can you provide a breakdown of closed stores due to COVID? - Management provided details on the number of temporarily closed stores across various brands, indicating that 25% of stores are currently closed [52][53]