First Watch Restaurant — Investor Presentation (November 2026)

5 slides from First Watch Restaurant's investor presentation, Nov 3, 2026

Slide 1: Annual Growth Targets Through 2028
ANNUAL GROWTH TARGETS THROUGH 2028 November 3, 2026 Exhibit 99.1
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS This presentation contains a number of “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995, which are subject to known and unknown risks, uncertainties and other important factors that may cause actual results to be materially di
Slide 3: Annual Growth Targets Through 2028
3 ANNUAL GROWTH TARGETS THROUGH 2028 • Same Restaurant Sales growth of 2% to 4%(1) • Total Revenue growth of 10% to 13% • G&A Expense growth lower than Total Revenue growth • Adjusted EBITDA growth of 15%+ • Positive Free Cash Flow(2) beginning in 2027 and increasing each year (1) Includes positive
Slide 4: Balancing Expansion with Additional Financial Flexibility
4 BALANCING EXPANSION WITH ADDITIONAL FINANCIAL FLEXIBILITY GROWTH PLAN DRIVES ADJUSTED EBITDA GROWTH AND FREE CASH FLOW • Optimizing capital allocation framework by committing to unit growth • Enables improved self-funding of new restaurant openings and maintenance capital expenditures from operati
Slide 5: For more information, visit investors.firstwatch.com
For more information, visit investors.firstwatch.com or email [email protected]