STEVE FARRAR CHIEF OPERATING OFFICER OF NORTH AMERICA

RECIPE TO WIN Create the best total customer experience. The Wendy’s Company

A CUT ABOVE Activating people Evolving service experience Reimaging restaurants The Wendy’s Company

The Wendy’s Company Internal Scorecards OPS IMPROVEMENT

RESTAURANT OPERATING LEVELS U.S. Company and Franchise Restaurants The Wendy’s Company 32.5% 24.8% 83.5% 0.6% 2008 2011 2008 2011 A & B LEVEL F LEVEL

The Wendy’s Company Customer Feedback OPS IMPROVEMENT

20% 25% 45% 55% 80% Minutes Hours Days Weeks Months Source: Forum Corporation Complaint Response Time vs. Customers Returning % of Customers Who Will Not Buy Again The Wendy’s Company

$1,200,000 $1,300,000 $1,400,000 $1,500,000 $1,600,000 $1,700,000 20% 30% 40% 50% 60% 70% 80% 90% 100% E S TI M A TE D ANN U A L S A L E S CUSTOMER SCORE Actual Company Restaurant Sampling High Customer Scores = High Sales The Wendy’s Company

$1,200,000 $1,300,000 $1,400,000 $1,500,000 $1,600,000 $1,700,000 20% 30% 40% 50% 60% 70% 80% 90% 100% E S TI M A TE D ANN U A L S A L E S CUSTOMER SCORE Actual Company Restaurant Sampling High Customer Scores = High Sales Each point increase results in $5,000 incremental annual sales The Wendy’s Company

“My Wendy’s” Reimages Customer Satisfaction 53% 58% 62% Not Implemented 1-3 months 12+ months Customer Scores After Implementation The Wendy’s Company

The Wendy’s Company

PEOPLE REBOOT In each Image Activation restaurant:  Re-interviewed entire staff  Kept only “Five-Stars”/hired exceptional new employees  Changed GMs and DMs as needed The Wendy’s Company

The Wendy’s Company SUPERIOR SERVICE

Win with “Five-Star Athletes”

The Wendy’s Company IMAGE ACTIVATION

1969…Wendy’s The Wendy’s Company

TODAY…New QSRs The Wendy’s Company

TODAY…Wendy’s Outdated Designs The Wendy’s Company

TODAY…Functional, not Competitive The Wendy’s Company

TODAY…Bold, Innovative…A CUT ABOVE The Wendy’s Company

“This CAN’T be Wendy’s!” The Wendy’s Company

“This CAN’T be Wendy’s! I’m telling all my friends.” The Wendy’s Company

The Wendy’s Company

TRADITIONAL ULTRA-MODERN URBAN CONTEMPORARY

DRIVEN BY CUSTOMER EXPECTATIONS

HIGH-LEVEL RESULTS SALES UP IN ALL DAYPARTS CONSISTENTLY HIGH SALES The Wendy’s Company

HIGH-LEVEL RESULTS DINING ROOM SALES DRIVING 50% OF SALES GROWTH The Wendy’s Company

The Wendy’s Company

Manhattan In-Line Design Prototype

The Wendy’s Company Where do we go from here?

TRADITIONAL ULTRA-MODERN URBAN CONTEMPORARY

The Wendy’s Company

FINALIZING DESIGNS Validating consumer impact and sustainability of sales Optimizing cost while retaining sales-driving power Maximizing ROI The Wendy’s Company

IMAGE ACTIVATION Highest returns Lowest cost Most durable finishes Remain relevant to customers The Wendy’s Company

IMAGE ACTIVATION – 2012 All company remodels and most new builds will be new designs 50 more remodels 20 new stores The Wendy’s Company

The Wendy’s Company IMAGE ACTIVATION

The Wendy’s Company

Media Launch AVERAGE WEEKLY BREAKFAST SALES Kansas City, Phoenix, Pittsburgh The Wendy’s Company Net Gross Coupon Rate % 7/10 9/10 11/10 1/11 3/11 5/11 11/11 1/12 Anniversary Launch 7/11 9/11

GAINING FRANCHISEE SUPPORT Breakfast The Wendy’s Company CUSTOMERS OPERATIONS FINANCIAL

The Wendy’s Company Question: How would you rate breakfast at Wendy’s on the following…* Variety 9.0 Taste 9.2 Freshness 9.2 Quality 9.2 Convenience 9.3 Location 9.2 Price 9.0 Value 9.1 * Rating on a 10-point scale STRONG CONSUMER SCORES

What Makes Wendy’s Breakfast Special FRESH INGREDIENTS AND FRESH PREPARATION DIFFERENTIATED MENU OFFERINGS SANDWICHES BEVERAGES SIDES BAKERY The Wendy’s Company VALUE

STRONG FINANCIAL PERFORMANCE The Wendy’s Company Continued positive sales Focus on producing sustainable P&L for system Long-term incremental investment in marketing

The Wendy’s Company OPERATIONALLY SUCCESSFUL

The Wendy’s Company New market in Northeast  Adding breakfast to company remodels and new builds  50 remodels  20 new stores  Sustain long-term performance of existing test markets BREAKFAST EXPANSION – 2012

The Wendy’s Company DAYPART EXPANSION

The Wendy’s Company LATE NIGHT

24-HOUR OPERATIONS The Wendy’s Company

Founded on innovation Driven by execution The Wendy’s Company

The Wendy’s Company

The Wendy’s Company

The Wendy’s Company A CUT ABOVE ACTIVATING PEOPLE EVOLVING SERVICE EXPERIENCE REIMAGING RESTAURANTS