First Watch Restaurant Group, Inc. — fact timeline

Mel Hope retired as Chief Financial Officer at First Watch Restaurant Group, Inc..

“As previously announced in the Company’s Current Report on Form 8-K dated February 20, 2026, it is expected that Mr. Hope will serve as an advisor to the Company for a period of time to ensure a smooth transition.”

Ashlee Weisser was appointed as Chief Financial Officer at First Watch Restaurant Group, Inc..

“On June 6, 2026, the Board of Directors of First Watch Restaurant Group, Inc. (the “Company”) appointed Ashlee Weisser, the Company’s Senior Vice President, Financial Planning & Analysis, as the Company’s Chief Financial Officer, effective June 8, 2026.”

First Watch Restaurant Group, Inc. shareholders approved Ratification of Appointment of Independent Registered Public Accounting Firm at the 2026-05-20 meeting.

“The stockholders ratified the appointment of PricewaterhouseCoopers LLP as the Company’s independent registered public accounting firm for the Company’s fiscal year ending December 27, 2026.”

First Watch Restaurant Group, Inc. shareholders approved Advisory Resolution on the Frequency of Future Votes on Executive Compensation at the 2026-05-20 meeting.

“The stockholders approved, on a non-binding, advisory basis, an annual vote frequency for future advisory votes on the compensation paid to our named executive officers.”

First Watch Restaurant Group, Inc. shareholders approved Advisory Resolution on Executive Compensation at the 2026-05-20 meeting.

“The stockholders approved, on a non-binding, advisory basis, the compensation paid to our named executive officers.”

First Watch Restaurant Group, Inc. shareholders approved Election of Class II Directors at the 2026-05-20 meeting.

“The stockholders elected each of the three nominees named below as Class II directors to serve until the 2029 annual meeting of stockholders or until their successors are duly elected and qualified or until their earlier resignation or removal.”

First Watch Restaurant Group, Inc. reported thirteen weeks ended March 29, 2026 ("Q1 2026") results: revenue $331.0 million, net income $(2.7) million, EPS $(0.04) per diluted share. Guidance reaffirmed.

“total revenues increased 17.3% to $331.0 million as compared to $282.2 million in the same period of 2025”

Michael Fleisher was appointed as Director at First Watch Restaurant Group, Inc..

“On August 22, 2024, the Board increased the number of directors of the Company from nine to ten, and appointed Michael Fleisher to serve as a Class I director, effective November 1, 2024”

Charles Jemley was appointed as Director at First Watch Restaurant Group, Inc..

“On August 22, 2024, the Board appointed Charles Jemley as a Class II director to fill the vacancy on the Board resulting from the resignation of Ms. Bradley, with such appointment effective August 22, 2024”

Julie M.B. Bradley resigned as Director at First Watch Restaurant Group, Inc..

“On August 20, 2024, Julie M.B. Bradley, who has been a director of First Watch Restaurant Group, Inc. (the “Company”) since January 2020, informed the Company of her intent to resign from the Company’s Board of Directors (the “Board”) effective immediately to pursue other professional interests.”

First Watch Restaurant Group, Inc. reported the 53-week fiscal year ended December 31, 2023 ("2023") results: revenue $891.6 million, net income $25.4 million.

“Total revenues increased 22.1% to $891.6 million from $730.2 million in 2022”

First Watch Restaurant Group, Inc. reported the fourteen weeks ended December 31, 2023 ("Q4 2023") results: revenue $244.6 million, net income $2.6 million.

“Total revenues increased 31.7% to $244.6 million in Q4 2023 from $185.7 million in Q4 2022”

First Watch Restaurant Group, Inc. incurred term loan of $125 million with Bank of America, N.A. at base rate plus an additional margin that ranges between 150 basis points and 225 maturing 2029-01-05.

“a new $125 million incremental delayed draw term loan facility (the "2024 Incremental Delayed Draw Term Facility" and the loans thereunder, the "2024 Incremental Delayed Draw Term Loans") was established”

First Watch Restaurant Group, Inc. amended revolving credit of $125 million with Bank of America, N.A. at base rate plus an additional margin that ranges between 150 basis points and 225 maturing 2029-01-05.

“the replacement revolving credit facility was increased by $50 million in new revolving credit commitments bringing the aggregate committed amount under the new revolving credit facility to $125 million (the "2024 Revolving Facility")”

First Watch Restaurant Group, Inc. amended Amendment No. 2 to Credit Agreement with Bank of America, N.A. and the lenders party thereto valued at Amendment to credit agreement replacing $100 million term loan A, $75 million revolving credit facil (effective 2024-01-05).

“On January 5, 2024 (the “Closing Date”), FWR Holding Corporation, a Delaware corporation (“FWR”), an indirect subsidiary of the Company, entered into that certain Amendment No. 2 to Credit Agreement (the “Amendment”), by and among FWR, as borrower, AI Fresh Parent, Inc., a Delaware corporation and indirect subsidiary of the Company (“Holdings”), the subsidiaries of FWR party thereto as guarantors, the lenders party thereto and Bank of America, N.A., as administrative agent and collateral agent (in such capacities, the “Administrative Agent”), which amends that certain Credit Agreement, dated as of October 6, 2021 (as amended by that certain Amendment No. 1 to Credit Agreement, dated as of February 24, 2023, the “Existing Credit Agreement”; the Existing Credit Agreement, as amended by the Amendment, the “Amended Credit Agreement”), by and among FWR, Holdings, the lenders from time to time party thereto and the Administrative Agent.”

First Watch Restaurant Group, Inc. entered into Asset Purchase Agreement with VIM Holdings, LLC, its subsidiaries, and Mr. Robert B. Frame valued at $75 million aggregate purchase price (effective 2024-01-05).

“On January [5], 2024, First Watch Restaurants, Inc. (“FWRI”), a wholly-owned subsidiary of First Watch Restaurant Group, Inc. (the “Company”), entered into an Asset Purchase Agreement (the “Asset Purchase Agreement”) with (i) VIM Holdings, LLC (“VIM”), (ii) VIM’s subsidiaries, including VIM Holdings Bradford, Inc., VIM Holdings Brier Creek, Inc., VIM Holdings Durham 15/501, Inc., VIM Holdings Glenwood, Inc., VIM Holdings Heritage Junction, Inc. and VIM Holdings TTC, Inc. (collectively, the “VIM Subsidiaries”), (iii) VIM, in its capacity as the parent company of the VIM Subsidiaries, and each of the members of VIM (collectively, the “Sellers”), and Mr. Robert B. Frame, in the capacity of agent and representative of VIM and the Sellers as set forth in the Asset Purchase Agreement, pursuant to which FWRI will acquire substantially all of the assets of VIM and the VIM Subsidiaries related to 21 franchise-owned First Watch restaurants and one restaurant under development in North Carolina f”

First Watch Restaurant Group, Inc. reported preliminary financial results for fourth quarter and fiscal year ended December 31, 2023.

“On January 8, 2024, First Watch Restaurant Group, Inc. (the “Company”) issued a press release announcing certain preliminary operational results for the fourth quarter and fiscal year ended December 31, 2023. A copy of the release is attached as Exhibit 99.1 hereto.”

Jostein Solheim was elected as Class I director at First Watch Restaurant Group, Inc..

“elected Jostein Solheim to serve as a Class I director, effective December 6, 2023”

First Watch Restaurant Group, Inc. reported the thirteen weeks ended September 24, 2023 results: revenue $219.2 million, net income $5.4 million, or $0.09 per diluted share, EPS $0.09 per diluted share. Guidance raised.

“our restaurant count and successfully navigate within virtually any economic environment. ” Highlights for Q3 2023 compared to Q3 2022*: • Total revenues increased 17.3% to $219.2 million in Q3 2023 from $186.9 million in Q3 2022 • System-wide sales increased 14.9% to $270.3 million in Q3 2023 from $235.2 million in Q3 2022 • Same-restaurant sales growth of 4.8%”

First Watch Restaurant Group, Inc. reported the thirteen weeks ended June 25, 2023 ("Q2 2023") results: revenue $216.3 million, net income $8.0 million, EPS $0.13 per diluted share. Guidance raised.

“in our unique opportunity and the growth algorithm that underpins our long-term targets .” Highlights for Q2 2023 compared to Q2 2022*: • Total revenues increased 17.3% to $216.3 million in Q2 2023 from $184.5 million in Q2 2022 • System-wide sales increased 17.4% to $271.5 million in Q2 2023 from $231.2 million in Q2 2022 • Same-restaurant sales growth of 7.8%”

Irene Chang Britt was elected as Class II Director at First Watch Restaurant Group, Inc..

“elected Irene Chang Britt to serve as a Class II director, effective immediately, for a term expiring at the Company’s 2026 annual meeting of stockholders.”

First Watch Restaurant Group, Inc. shareholders approved Ratification of appointment of PricewaterhouseCoopers LLP as independent registered public accounting firm for fiscal year ending December 31, 2023 at the 2023-05-23 meeting.

“The stockholders ratified the appointment of PricewaterhouseCoopers LLP as the Company’s independent registered public accounting firm for the Company’s fiscal year ending December 31, 2023.”

First Watch Restaurant Group, Inc. shareholders approved Election of two Class II director nominees at the 2023-05-23 meeting.

“The stockholders elected each of the two nominees named below as Class II directors to serve until the 2026 annual meeting of stockholders or until their successors are duly elected and qualified or until their earlier resignation or removal.”

First Watch Restaurant Group, Inc. reported first fiscal quarter ended March 26, 2023 results: revenue $211.4 million, net income $9.4 million, EPS $0.15 per diluted share. Guidance raised.

“confidence in First Watch’s leadership position and our strong consumer value proposition.” Highlights for Q1 2023 compared to Q1 2022*: • Total revenues increased 22.1% to $211.4 million in Q1 2023 from $173.1 million in Q1 2022 • System-wide sales increased 23.6% to $264.7 million in Q1 2023 from $214.1 million in Q1 2022 • Same-restaurant sales growth of 12.9%”

David Paresky was appointed as Class II director at First Watch Restaurant Group, Inc..

“On April 4, 2023, the Board appointed David Paresky as a Class II director to fill the vacancy on the Board resulting from the resignation of Mr. White, with such appointment effective on April 5, 2023.”

Michael White resigned as Director at First Watch Restaurant Group, Inc..

“On April 4, 2023, Michael White, who has been a director of First Watch Restaurant Group, Inc. (the “Company”) since April 2019, informed the Company of his intent to resign from the Company’s Board of Directors (the “Board”) effective immediately.”

Lisa Price resigned as Director at First Watch Restaurant Group, Inc..

“On March 9, 2023, Lisa Price, who has been a director of First Watch Restaurant Group, Inc. (the “Company”) since September 2020, informed the Company of her intent to resign from the Company’s Board of Directors (the “Board”) for personal reasons.”

First Watch Restaurant Group, Inc. reported thirteen weeks ended December 25, 2022 results: revenue Total revenues increased 14.2% to $185.7 million in Q4 2022 from $162.6 million in Q4 2021, net income Net loss improved to $(0.5) million in Q4 2022 compared to $(4.7) million in Q4 2021.

“Highlights for Q4 2022 compared to Q4 2021: • Total revenues increased 14.2% to $185.7 million in Q4 2022 from $162.6 million in Q4 2021 • System-wide sales increased 15.6% to $234.2 million in Q4 2022 from $202.7 million in Q4 2021 • Same-restaurant sales growth of 7.7% (up 29.3% relative to Q4 2019 * ) • Same-restaurant traffic growth of (0.6)% (up 5.2% relative to Q4 2019*) • Income from operations of $1.5 million and Income from operations margin of 0.8% in Q4 2022 compared to Loss from operations of $(1.1) million and Loss from operations margin of (0.7)% in Q4 2021, respectively • Restaurant level operating profit** and Restaurant level operating profit margin ** of $30.5 million and 16.7% in Q4 2022 compared to $29.2 million and 18.2% in Q4 2021, respectively • Net loss improved to $(0.5) million in Q4 2022 compared to $(4.7) million in Q4 2021 • Adjusted EBITDA ** increased to $15.1 million in Q4 2022 from $14.2 million in Q4 2021 • Opened 16 system-wide restaurants (11 company”

First Watch Restaurant Group, Inc. reported fourth fiscal quarter and fiscal year ended December 25, 2022 results: revenue Total revenues of $730.2 million, up 21.5%, net income Net income of $6.9 million compared to Net loss of $(2.1) million in 2021.

“First Watch Restaurant Group, Inc. Reports Strong 2022 Financial Results and Provides 2023 Outlook • Total revenues of $730.2 million, up 21.5% and System-wide sales of $914.8 million, up 21.9% • Same-restaurant sales growth of 14.5% and Same-restaurant traffic growth of 7.7% • Income from operations margin of 2.4% and Restaurant level operating profit margin of 17.9% • 43 system-wide restaurants opened across 16 states”

First Watch Restaurant Group, Inc. reported preliminary financial results for the fourth quarter and fiscal year ended December 25, 2022.

“On January 9, 2023, First Watch Restaurant Group, Inc. (the “Company”) issued a press release announcing certain preliminary operational results for the fourth quarter and fiscal year ended December 25, 2022.”

First Watch Restaurant Group, Inc. reported the thirteen weeks ended September 25, 2022 results: revenue $186.9 million, net income $46.0 thousand. Guidance raised.

“99.1. --- EX-99.1 (EX-99.1) --- First Watch Restaurant Group, Inc. Reports Strong Q3 2022 Financial Results and Raises Certain of Its Full Year Guidance Total revenues of $186.9 million, up 18.7% compared to prior year Same-restaurant sales growth of 12.0% driven by same-restaurant traffic growth of 3.7% Income from operations margin of 1.4% and restaurant level”

Kenneth L. Pendery, Jr. departed as Chairman Emeritus at First Watch Restaurant Group, Inc..

“Kenneth L. Pendery, Jr., Chairman Emeritus of the Company, will retire from his role as Chairman Emeritus and as a director of the Company on September 1, 2022.”

Stephanie Lilak was elected as Director at First Watch Restaurant Group, Inc..

“On June 17, 2022, the Board of Directors (the “Board”) of First Watch Restaurant Group, Inc. (the “Company”) increased the number of directors of the Company from eight to nine, and elected Stephanie Lilak to serve as a director, effective immediately”