INVESTOR PRESENTATION July 29, 2025 SAFE HARBOR STATEMENT This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. This includes, without limitation, financial guidance and projections, including underlying assumptions, and statements with respect to expectations of the Company's future financial condition, results of operations, cash flows, share repurchases, objecti ...

Company Overview - The company owns and operates 358 restaurants across the US and Canada, including 215 The Cheesecake Factory locations[8] - The company's fiscal year 2024 revenue was $3.6 billion[8] - The company's market capitalization was $2.5 billion as of April 1, 2025[8] Expansion and Growth - There are 33 international The Cheesecake Factory locations[12, 21] - The company is targeting approximately 20% average annual unit growth for North Italia and Flower Child[82, 91] - The company plans to open as many as 25 new units in 2025[105, 118] Financial Performance - Total revenue for Q1 2025 was $927 million, up 4% from the previous year[113] - Adjusted net income margin for Q1 2025 was 4.9%, up 90 bps from the previous year[113] - The company issued $575 million of 2.00% Convertible Senior Notes due 2030[113, 117] Sales and Unit Volume - The Cheesecake Factory's FY 2024 average weekly sales equate to $12.5 million annualized AUV[111] - North Italia's FY 2024 average weekly sales equate to $7.7 million annualized AUV[111] - Flower Child's FY 2024 average weekly sales equate to $7.2 million annualized AUV[111] Off-Premise Performance - Off-premise sales accounted for 17% of total revenue in FY 2024[26] - The Cheesecake Factory's off-premise average weekly sales for FY 2024 were $2.8 million per restaurant[39]