LA MADELEINE FRENCH BAKERY & CAFE

Data Based On: 50 franchised outlets at Traditional Locations and 6 franchised outlets at Non-Traditional Facilities, open for full year 2024, as described in Table 2 and Table 3 notes.

* Calculated weighted average gross revenue from Table 2 (Traditional Locations) and Table 3 (Non-Traditional Facilities). Table 2 Top 50%: 25 units * $2,929,753; Table 2 Bottom 50%: 25 units * $1,888,193; Table 3 (overall): 6 units * $2,108,047. Formula: (25*2929753 + 25*1888193 + 6*2108047) / 56 = $2,376,731. Revenue top quartile uses the average for the Top 50% segment from Table 2. Revenue bottom quartile uses the average for the Bottom 50% segment from Table 2. Median gross revenue is not provided for the overall franchised sample. Estimated average_ebitda for franchised units by applying the company-owned EBITDA margin (11.5% from Table 1) to the calculated weighted average franchised gross revenue. Calculated average_ebitda = $2,376,731 * 11.5% = $273,324. Using company-owned data as a proxy for EBITDA due to a statement in Note 1 to Table 1, which indicates no material financial or operational differences except for royalties and Brand Marketing Fund contributions. Estimated best_guess_profit by subtracting franchised fees (5% royalties + 2% Brand Marketing Fund = 7%) from the company-owned EBITDA margin (11.5%). Estimated profit margin = 11.5% - 7% = 4.5%. best_guess_profit_low = $2,376,731 * 4.5% = $106,953. best_guess_profit_high = $2,376,731 * 4.5% = $106,953. This profit estimate is before interest, taxes, depreciation, and amortization.