Pei Wei Clean Ingredients Study Insights

Pei Wei Health & Wellness /Clean Label Study Final Report September 2018

Methodology This study was conducted via internet interviews among an internal panel of Pei Wei customers and an external panel of trade area consumers. Sample Size N=200 Trade Area Consumers N=400 Pei Wei P3M Customers Eclub Sample Description: External Panel Males and Females (35%/65%) Ages 18-64 Live within 5 miles of a Pei Wei restaurant zip code Visit fast casual restaurants once a month or more often Have convenient access to a Pei Wei Non-Rejecter towards visiting Pei Wei in the future Industry Security Interviewing Conducted: July 2-16, 2018 Internal Panel Males and Females (30%/70%) Ages 18 or older Visit fast casual restaurants once a month or more often Visited Pei Wei in the past 3 months Have convenient access to a Pei Wei Non-Rejecter towards visiting Pei Wei in the future Interviewing Conducted: July 2-16, 2018 Trade Area Total Contacts N=555; Pei Wei P3M Customers Eclub Total Contacts N=842

About 7 in 10 are extremely/very interested in having detailed ingredients Interest in Restaurants Providing Detailed Ingredient Information Trade Area Pei Wei P3M Customers Eclub (A) (B) 65% Top 2 Box 70% Top 2 Box 35% Extremely Interested 32% Extremely Interested 35% Very Interested 33% Very Interested 25% Somewhat Interested 31% Somewhat Interested 4% Not Very Interested 3% Not Very Interested 1% Not At All Interested 1% Not At All Interested Q.4; If restaurants began providing detailed ingredient information, how interested would you be in having access to that information? Base: Trade Area N=200; Pei Wei Past 3 Month Customers Eclub (Client Database) N=400 LETTERS Indicate significant differences between groups at the 95% confidence level 3

Consumers report ordering Clean Ingredients/Healthier Menu Options More Often Past Year Change in Ordering Clean Ingredients/Healthier Menu Options Trade Area Pei Wei P3M Customers Eclub (A) (B) 76% More Often 62% More Often A 22% A Lot More Often 42% A A Lot More Often 40% A Little More Often 34% A Little More Often 36% B About the Same 23% About the Same 1% A Little Less Often 1% A Little Less Often 1% A Lot Less Often 0% A Lot Less Often Q.1; Compared to a year ago, do you find yourself (or others you dine with) ordering food with clean ingredients and/or healthier ingredients ? Base: Trade Area N=200; Pei Wei Past 3 Month Customers Eclub (Client Database) N=400 LETTERS Indicate significant differences between groups at the 95% confidence level 4

When it comes to clean label /H&W, what are consumers looking for? Clean Ingredients/Healthier Menu Options Important to Them (Unaided) Trade Area Pei Wei P3M Customers Eclub (A) (B) Fruit/Vegetables (25%) Fruit/Vegetables (38% A) Fresh/Freshly Made/Not Frozen (18% B) Salad (12% A) Organic (14%) Fresh/Freshly Made/Not Frozen (11%) Salad (10%) Less/No Fried Food (11%) No/Less Artificial Gluten Free/Sensitive (10% A) Additives/Flavors/Preservatives (10% B) Organic (9%) Less/No Fried Food (9%) Low/No Carbs (9%) Low/Less Fat (9%) Less/Low Sodium (7%) Vegetarian/Vegan Options (8%) Low/Less Fat (6%) Lighter/Low Calories (8%) Low/No Sugars (6%) Non-GMO (7%) Whole Grains/Brown Rice/Quinoa (6% A) Low/No Carbs (7%) Non-GMO (6%) Low/No Sugars (7%) Lighter/Low Calories (5%) All Natural Ingredients (6% B) High Protein (5%) Q.2; When looking for a restaurant to eat at, what clean ingredients and/or healthier menu options, if any, are important to you? Base: Trade Area N=200; Pei Wei Past 3 Month Customers Eclub (Client Database) N=400 LETTERS Indicate significant differences between groups at the 95% confidence level 5

Pei Wei Aspirational WBOC Recipe is Middle of the Pack Relative to being seen as clean Clean Perception of Ingredient Label Panera Soba Noodle Bowl PandaOrange Chicken PW: Aspirational Wei Better Orange Chicken Trade Area (A) PW (C) Pei Wei P3M Customers Eclub (B) Panera Panda PW (A) (B) (C) Panera Panda (A) (B) 41% BC 6% 28% B 32% BC 4% 25% B Top 3 Box (Very Clean) Top 3 Box (Very Clean) 42% 38% 54% AB 45% B 24% 48% B Middle 4 Box Middle 4 Box 14% 51% AC 14% 15% 65% AC 17% Bottom 3 Box (Not Clean At All) Bottom 3 Box (Not Clean At All) 3% 5% 4% Not Sure 8% 7% 10% Not Sure Q.13; Please read the list and indicate how clean you consider this ingredient list. Base: Trade Area N=200; Pei Wei Past 3 Month Customers Eclub (Client Database) N=400 LETTERS Indicate significant differences between restaurants at the 95% confidence level 6

Panera ingredient seen as cleanest Clean Perception of Ingredient Label: Panera Soba Noodle Bowl Most Clean Trade Area Pei Wei P3M Customers Eclub (A) (B) 41% B 32% Top 3 Box (Very Clean) Top 3 Box (Very Clean) 42% 45% Middle 4 Box Middle 4 Box 14% 15% Bottom 3 Box (Not Clean At All) Bottom 3 Box (Not Clean At All) 3% Not Sure 8% A Not Sure Q.13c; Please read the list and indicate how clean you consider this ingredient list. Base: Trade Area N=200; Pei Wei Past 3 Month Customers Eclub (Client Database) N=400 LETTERS Indicate significant differences between groups at the 95% confidence level 7

Majority see Panda as not clean label Clean Perception of Ingredient Label: Panda Orange Chicken Least Clean Trade Area Pei Wei P3M Customers Eclub (A) (B) 6% 4% Top 3 Box (Very Clean) Top 3 Box (Very Clean) 38% B 24% Middle 4 Box Middle 4 Box 51% 65% A Bottom 3 Box (Not Clean At All) Bottom 3 Box (Not Clean At All) 5% Not Sure 7% Not Sure Q.13b; Please read the list and indicate how clean you consider this ingredient list. Base: Trade Area N=200; Pei Wei Past 3 Month Customers Eclub (Client Database) N=400 LETTERS Indicate significant differences between groups at the 95% confidence level 8

Overall, Pei Wei ranks 7th while Panda is last Clean/Healthy Menu Ratings (Top 2 Box: Very Clean/Healthy Menu) Trade Area 39% Pei Wei P3M Customers Eclub 62% 89% 44% 76% 33% 78% 37% 67% 23% 59% 32% 56% 18% 58% 19% 53% 13% 53% 48% Q.5a; Please rate each of the following restaurants on how Clean/Healthy you consider their menu. Base: Trade Area Ever Visited Restaurant N=45-171; Pei Wei Past 3 Month Customers Eclub (Client Database) Ever Visited Restaurant N=62-400 9

Zoes and Panera top the list of clean /healthy menus; Panda again is last Clean/Healthy Menu Rankings (Among Those Who Visited Each Brand) Trade Area Pei Wei P3M Customers Eclub 74% 74% 73% 73% 51% 51% 48% 48% 67% 67% 62% 62% 40% 40% 35% 35% 47% 47% 62% 62% 27% 27% 29% 29% 45% 45% 46% 46% 14% 14% 27% 27% 39% 39% 44% 44% 19% 19% 22% 22% 9% 9% 14% 14% 28% 28% 29% 29% 4% 4% 8% 8% 20% 20% 27% 27% 3% 3% 3% 3% 18% 18% 9% 9% 2% 2% 2% 2% 11% 11% 8% 8% Ranked First (Among Ever Visited Brand) 6% 6% 5% 5% Ranked Top 2 (Among Ever Visited Brand) Q.5b; Please rank order these restaurants from the one you feel has the Most Clean/Healthy Menu to the one you feel has the Least Clean/Healthy Menu. Base: Trade Area Ever Visited Restaurant N=45-171; Pei Wei Past 3 Month Customers Eclub (Client Database) Ever Visited Restaurant N=62-400 10

PW does well in delivering on issues that are most important Importance vs. Agreement Pei Wei (Trade Area) Less Important + PW Higher Important + PW High % Top 2 Box Agree Pei Wei Offers this Menu Option PW Gaps Important + PW Lower Less Important + PW Lower % Top 2 Box Important When Selecting Where to Eat Q.8/10; For each statement that appears in the box below, click on the gray box that best represents how important each is to you when selecting where to eat. Base: Total Trade Area N=200 Q.12; For each statement that appears in the box below, click on the gray box that best represents how much you agree or disagree that Pei Wei offers this cleaner/healthier or more responsible food choice option? Base: Trade Area Ever Visited Pei Wei N=166 11

The same holds true for Current Guests, PW does well on delivering on what s most important Importance vs. Agreement Pei Wei (Pei Wei P3M Customers Eclub) Important + PW High Less Important + PW Higher % Top 2 Box Agree Pei Wei Offers this Menu Option PW Gaps Less Important + PW Lower Important + PW Lower % Top 2 Box Important When Selecting Where to Eat Q.8/10; For each statement that appears in the box below, click on the gray box that best represents how important each is to you when selecting where to eat. Q.12; For each statement that appears in the box below, click on the gray box that best represents how much you agree or disagree that Pei Wei offers this cleaner/healthier or more responsible food choice option? Base: Pei Wei Past 3 Month Customers Eclub (Client Database) N=400 12