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(1) Excludes one franchised restaurant in Guam. (1) Based on unit count (2) Represents preliminary FY2015 sales data and unit counts as of December 29, 2015. Actual results for fiscal year 2015 are expected to be released in March 2016 (3) Del Taco system-wide unit count as of December 29, 2015. Mexican QSR competitive unit counts / system-wide sales are from the Technomic Top 500 2015 report reflecting 2014 results 5
• • • • • • • • (1) Source: The NPD Group/CREST , Q3, 2015. 6
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Fresh hand-sliced avocado, chicken Freshly grilled, marinated chicken, A warm, soft flour tortilla filled Flour tortilla, choice of grilled fresh in our restaurants, savory secret sauce, crisp lettuce, with shredded chicken, topped cilantro-lime rice, pinto handmade pico de gallo salsa, salsa and freshly hand-grated cheddar with crisp lettuce and real or black beans, grilled casera, fresca lime rice, and seasoned cheese, in a warm flour tortilla cheddar cheese chicken, salsa and cheese black beans. or sour cream Freshly grilled chicken, hand-sliced Fire-grilled chicken, lettuce, guacamole, Freshly grilled chicken, avocado, seasoned black beans, pico de gallo, avocado ranch dressing, choice of cilantro-lime rice, diced onions, and handmade pico de cheddar cheese and cool sour cream, all pinto or black beans, salsa, gallo, served over fresca lime rice served with Latin rice and black beans cheese and sour cream Source: Company internal price survey of Southern California Taco Bell (n=20) and Chipotle (n=20) restaurants conducted in December 2015 8
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Source: Weighted QSR average same store sales per NPD Group Sales Track Report. 11
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(1) Preliminary and unaudited During fiscal 2015 the AUV for the top 33% company – operated restaurants in the comparable store base was ≥$1.5M with an averag e AUV of $1.72 million (2) (3) 90% of these company restaurants had a fiscal 2015 restaurant contribution margin of 21% or higher. Restaurant contribution is defined as company restaurant sales less company restaurant expenses. Restaurant contribution margin is defined as restaurant contribution as a percentage of company restaurant sales Check Average Sources: Average check data is from public company filings (JACK and FRGI as of most recent Form 10-K) and Wall Street research for CMG and Taco Bell. 13
Source: AUV and Restaurant Contribution %: Benchmark data is from the most recent public company filings (Jack, Zoes, YUM, Popeyes, Bojangles, and Taco Cabana), Taco Bell and Popeye’s data was derived from their fiscal 2014 10 -K for company-owned restaurants only (1) Restaurant contribution is defined as company restaurant sales less company restaurant expenses. Restaurant contribution margin is defined as restaurant contribution as a percentage of company restaurant sales 14
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(1) Del Taco Internal Guest Experience Survey, Top Box Rating Average Score 16
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(1) Del Taco Internal Attitudes & Usage Study, August 2015 19
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(1) Based on internal analysis and a study prepared by a leading national consulting firm. 25
(1) Restaurant contribution is defined as company restaurant sales less company restaurant expenses. Restaurant contribution margin is defined as restaurant contribution as a percentage of company restaurant sales (2) Restaurant contribution margin percentage for new restaurants trends lower than our mature base due to market rental rates 26
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(1)
INGREDIENT % OF PURCHASE Taco Meat (1) All 2015 results disclosed in this presentation are based on preliminary fiscal 2015 results, are unaudited, have not been reviewed by our independent registered public accountants, and remain subject to change in connection with the preparation of the audited financial statements for the year ended December 29, 2015. 33
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