Fat Brands, Inc — fact timeline

Carmen Vidal was appointed as Director at Fat Brands, Inc.

“appointed the following individuals to fill vacancies on the Board: Donald Berchtold, Tyler Child, Kenneth Kepp, Carmen Vidal, Mason Wiederhorn, Taylor Wiederhorn and Thayer Wiederhorn.”

Kenneth Kepp was appointed as Director at Fat Brands, Inc.

“appointed the following individuals to fill vacancies on the Board: Donald Berchtold, Tyler Child, Kenneth Kepp, Carmen Vidal, Mason Wiederhorn, Taylor Wiederhorn and Thayer Wiederhorn.”

Tyler Child was appointed as Director at Fat Brands, Inc.

“appointed the following individuals to fill vacancies on the Board: Donald Berchtold, Tyler Child, Kenneth Kepp, Carmen Vidal, Mason Wiederhorn, Taylor Wiederhorn and Thayer Wiederhorn.”

Donald Berchtold was appointed as Director at Fat Brands, Inc.

“appointed the following individuals to fill vacancies on the Board: Donald Berchtold, Tyler Child, Kenneth Kepp, Carmen Vidal, Mason Wiederhorn, Taylor Wiederhorn and Thayer Wiederhorn.”

Fat Brands, Inc shareholders approved Advisory vote on the frequency of future advisory votes on executive compensation at the 2022-12-20 meeting.

“In light of the “say-on-frequency” vote of the stockholders of the Company (Proposal 5, discussed in Item 5.07 of the Original 8-K) with respect to the frequency of future advisory votes on executive compensation, the Board of Directors of the Company has determined that the Company will hold an advisory vote on executive compensation annually”

Andrew Wiederhorn resigned as Chief Executive Officer at Fat Brands, Inc.

“On March 3, 2023, Andrew Wiederhorn, founder and Chief Executive Officer of FAT Brands Inc. (the “ Company ”), resigned as Chief Executive Officer with an effective date of May 5, 2023, and will accept a new position as outside consultant and strategic advisor to the Company.”

Fat Brands, Inc reported the fiscal year ended December 25, 2022 results: revenue $407.2 million, net income Net loss of $126.2 million, EPS $7.66 per diluted share.

“• Total revenue increased 242.5% to $407.2 million compared to $118.9 million in 2021 ◦ System-wide sales growth of 108.0% compared to 2021 ◦ Year-to-date system-wide same-store sales growth of 6.0% in 2022 compared to 2021 ◦ Over 140 new store openings during 2022 • Net loss of $126.2 million, or $7.66 per diluted share, compared to $31.6 million, or $2.15 per diluted share, in 2021”

Fat Brands, Inc reported the fourth quarter of 2022 results: revenue $103.8 million, net income Net loss of $70.8 million, EPS $4.29 per diluted share.

“• Total revenue improved 39.9% to $103.8 million compared to $74.2 million in the fourth quarter of 2021 ◦ System-wide sales growth of 22.1% in the fourth quarter of 2022 compared to the prior year quarter ◦ Year-to-date system-wide same-store sales growth of 2.7% in the fourth quarter of 2022 compared to the prior year ◦ 44 new store openings during the fourth quarter of 2022 and over 140 openings during the year • Net loss of $70.8 million, or $4.29 per diluted share, compared to $19.6 million, or $1.38 per diluted share, in the fourth quarter of 2021”

Fat Brands, Inc incurred senior notes of $40,000,000 with qualified institutional buyers at 6.00% Fixed Rate maturing July 22, 2051 (legal final maturity), anticipated call date July 25, 2023.

“On January 25, 2023, FAT Brands Inc. (the “ Company ”) completed the sale of an aggregate principal amount of $40,000,000 of Series 2022-1 6.00% Fixed Rate Senior Secured Notes, Class A-2 (the “ Class A-2 Notes ”) issued by its special purpose, wholly-owned subsidiary, FAT Brands GFG Royalty I, LLC (the “ Issuer ”).”

Fat Brands, Inc: Filed Certificate of Amendment to eliminate classified board and provide for annual election of directors (effective 2022-12-20).

“On December 20, 2022, immediately following the vote on proposal 1 at the 2022 Annual Meeting of Stockholders (the “Annual Meeting”) of FAT Brands Inc. (the “Company”), the Company filed a Certificate of Amendment to its Second Amended and Restated Certificate of Incorporation to eliminate the three-year, staggered terms of the Company’s directors and provide for the annual election of directors.”

Fat Brands, Inc shareholders approved Ratification Of Appointment Of Independent Registered Public Accounting Firm at the 2022-12-25 meeting.

“(6) Ratification Of Appointment Of Independent Registered Public Accounting Firm. The proposal to ratify the selection of Baker Tilly US, LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 25, 2022 was approved. The votes regarding this proposal were as follows: For Against Abstained Broker Non-Votes 2,365,403,067 6,803,993 667,764 191,885,875”

Fat Brands, Inc shareholders approved Advisory Vote On The Frequency Of Future Votes On The Compensation Of Named Executive Officers.

“(5) Advisory Vote On The Frequency Of Future Votes On The Compensation Of Named Executive Officers. The proposal to approve, on a non-binding advisory basis, the frequency of future votes on the compensation of the Company’s named executive officers received the following votes: One Year Two Years Three Years Abstain 2,162,829,591 7,769,865 5,438,900 4,950,593”

Fat Brands, Inc shareholders approved Advisory Vote on the Compensation of Named Executive Officers.

“(4) Advisory Vote on the Compensation of Named Executive Officers. The proposal to approve, on a non-binding advisory basis, the compensation of the Company’s named executive officers was approved. The votes regarding this proposal were as follows: For Against Abstained Broker Non-Votes 2,165,812,016 9,257,758 5,919,174 191,885,875”

Fat Brands, Inc shareholders approved Amendment To 2017 Omnibus Equity Incentive Plan.

“(3) Amendment To 2017 Omnibus Equity Incentive Plan. The proposal to approve an amendment to the Company’s 2017 Omnibus Equity Incentive Plan (the “Plan”) to increase the number of shares of Class A Common Stock issuable under the Plan was approved. The votes regarding this proposal were as follows: For Against Abstained Broker Non-Votes 1,943,673,606 231,979,386 5,335,955 191,885,875”

Fat Brands, Inc shareholders approved Election of Directors.

“(2) Election of Directors. Stockholders elected seven nominees for director to the Company’s Board of Directors to hold office until the 2023 Annual Meeting of Stockholders and until their respective successors have been duly elected and qualified. The votes regarding this proposal were as follows: Name of Nominee For Withheld Broker Non-Votes Kenneth J. Anderson 2,173,182,347 7,806,603 191,885,875 Lynne L. Collier 2,174,046,515 6,942,435 191,885,875 Amy V. Forrestal 586,650,412 1,594,338,538 191,885,875 Squire Junger 585,701,352 1,595,287,599 191,885,875 James C. Neuhauser 2,173,182,860 7,806,090 191,885,875 Edward H. Rensi 1,991,915,233 189,073,717 191,885,875 Andrew A. Wiederhorn 2,173,164,437 7,824,513 191,885,875”

Fat Brands, Inc shareholders approved Amendment To Certificate Of Incorporation To Declassify Board Of Directors.

“(1) Amendment To Certificate Of Incorporation To Declassify Board Of Directors. The proposal to amend the Company’s certificate of incorporation to declassify the Board of Directors and provide for the annual election of all directors was approved. The votes regarding this proposal were as follows: For Against Abstained Broker Non-Votes 2,163,592,375 13,086,195 4,310,379 191,885,875”

Fat Brands, Inc entered into Sales Agreement with ThinkEquity LLC valued at up to $21,435,000 maximum aggregate offering price (effective 2022-11-14).

“On November 14, 2022, FAT Brands Inc., a Delaware corporation (the “Company”), entered into an ATM Sales Agreement (the “Sales Agreement”) with ThinkEquity LLC (the “Agent”), pursuant to which the Company may offer and sell from time to time through the Agent up to $21,435,000 maximum aggregate offering price of shares”

Edward H. Rensi was appointed as Vice Chairman of the Board at Fat Brands, Inc.

“and appointed Edward H. Rensi as Vice Chairman of the Board.”

James C. Neuhauser changed role as Executive Chairman of the Board at Fat Brands, Inc.

“The Board also elevated James C. Neuhauser, formerly an independent director on the Board, to the position of Executive Chairman of the Board”

Lynne L. Collier was appointed as Independent Director at Fat Brands, Inc.

“Effective July 12, 2022, the Board of Directors (the "Board") of FAT Brands Inc. (the "Company") appointed Lynne L. Collier as an independent director of the Company to fill a vacancy on the Board.”

Thayer D. Wiederhorn changed role as Chief Operating Officer at Fat Brands, Inc.

“On November 18, 2021, the Company promoted Thayer D. Wiederhorn to Chief Operating Officer of the Company, effective immediately.”

Kenneth J. Anderson was appointed as Director at Fat Brands, Inc.

“On October 19, 2021, the Board of Directors (the “Board”) of FAT Brands Inc. (the “Company”) appointed Amy V. Forrestal and Kenneth J. Anderson as directors of the Company, effective on such date, to fill existing vacancies on the Board.”

Amy V. Forrestal was appointed as Director at Fat Brands, Inc.

“On October 19, 2021, the Board of Directors (the “Board”) of FAT Brands Inc. (the “Company”) appointed Amy V. Forrestal and Kenneth J. Anderson as directors of the Company, effective on such date, to fill existing vacancies on the Board.”