State of the Industry

© 2021 Technomic, Inc. © 2021 Technomic, Inc. 2© 2021 Technomic, Inc.

Image Source: Shutterstock

© 2021 Technomic, Inc. © 2021 Technomic, Inc. 3© 2021 Technomic, Inc.

Image Source: Shutterstock

© 2021 Technomic, Inc. 4

Note: Based on preliminary raw data; unweightedSource: Technomic Raw Feed Data Sources

80%

67%

40%

24%

Fine Dining Casual Dining Fast Casual QSR

MARCH 2021YOY SALES GROWTH*

© 2021 Technomic, Inc.

Source: Technomic analysis of Opentable.com data

-120.0

-100.0

-80.0

-60.0

-40.0

-20.0

0.0

20.0

7 D

ay A

vera

ge %

Cha

nge

RESTAURANT RESERVATIONSChange v. Same Period 2019

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Vaccinations Quarantine Fatigue Warmer Weather Stimulus $s

© 2021 Technomic, Inc.

Pent-up demand expected

68% of consumers say that once it’s safe, they are very excited to dine in at restaurants again

Base: 1,000 consumersSource: Technomic Omnibus Survey Photo by Alex Haney on Unsplash

© 2021 Technomic, Inc.

47%

43%

32%

27%

23%

15%

15%

12%

11%

11%

6%

Hanging out with friends/family

Going out to eat at a restaurant

Traveling

Going shopping at a store or shopping mall

Going to a movie

Going to a bar with friends, family, co-workers

Going to a park

Going to a sporting event

Going back to my office or place of work

Attending a concert or play

Going to a museum

ACTIVITIES CONSUMERS ARE LOOKING FORWARD TO ONCE COVID-10 RESOLVED % INDICATING

Base: 1,000 consumersUp to 3 selected. List shown is not exhaustive.Source: Technomic, Inc.

© 2021 Technomic, Inc. 9

Source: Technomic Feb 2021 Wallchart

100 100 100

56.5

76.6 77

83.8

93.9 95.7

2nd Quarter 3rd Quarter 4th Quarter

Quarterly Sales Indices2019=100

2019 2020 2021 (FC)

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Category: Final demand foods; seasonally adjustedSource: Bureau of Labor Statistics

-6%

-4%

-2%

0%

2%

4%

6%

8%

10%

12%

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

PRODUCER PRICE INDEX: FINAL DEMAND FOODSYEAR-OVER-YEAR CHANGE %

MARCH 20215.1%

© 2021 Technomic, Inc.

Source: Bureau of Labor Statistics

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%

3.5%

4.0%

4.5%

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

RESTAURANT MENU PRICE INDICES12-MONTH CHANGE %

MARCH 20213.7%

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*2019 = 100Source: Technomic Projections

30

40

50

60

70

80

90

100

110

120

130

140

2019 2020 2021* 2022 2023 2024 2025

CUMULATIVE SEGMENT GROWTH INDEXNOMINAL GROWTH

LSRs FSRs Retail Hosts Travel & Leisure Noncommercial Total Foodservice

© 2021 Technomic, Inc.

SurvivalMarch-May 2020

StartUneven re-opening

June 2020-Feb 2021

SurgeIndustry recovery

StrengthenLong-term investment

and growthThe ‘Four S’ Process of Recovery WE

ARE HERE NOW