POPEYES LOUISIANA KITCHEN

Data Based On: 2,435 franchised free-standing and in-line Popeyes Restaurants that were continuously operated for the 12-month period ended December 31, 2025, and submitted profit and loss statements for 2025.

* Weighted average gross revenue calculated from the 'Sales $' row in Table IV (EBITDA by Annual Sales Level) for 2,435 franchised free-standing and in-line restaurants. The calculation used individual sales figures and unit counts for each of the eight segments: sum((Sales$_i * units_i)) / 2,435 total units = $1,878,813.74. Weighted median gross revenue calculated similarly from the 'Sales $' (Median) row in Table IV: sum((MedianSales$_i * units_i)) / 2,435 total units = $1,857,912.48. Weighted average revenue top quartile calculated from the 'Sales $' of the '>$2.5M' annual sales level segments in Table IV (364 Free-standing units at $3,066,573 and 56 In-line units at $3,135,750) / 420 total units = $3,075,796.60. Weighted average revenue bottom quartile calculated from the 'Sales $' of the '<$1.5M' annual sales level segments in Table IV (637 Free-standing units at $1,176,101 and 169 In-line units at $1,201,327) / 806 total units = $1,181,390.32. Weighted average EBITDA calculated from the 'EBITDA³ $' row in Table IV using individual EBITDA dollar amounts and unit counts for each of the eight segments: sum((EBITDA$_i * units_i)) / 2,435 total units = $234,477.10. Weighted average EBITDA margin calculated from the 'EBITDA' percentage row in Table IV using individual EBITDA percentages and unit counts for each of the eight segments: sum((EBITDA%_i * units_i)) / 2,435 total units = 10.78%. Best guess profit range (low and high) estimated by multiplying the overall weighted average sales from Table IV ($1,878,813.74) by the minimum (3.5%) and maximum (18.5%) EBITDA percentages observed across all segments in Table IV. Low: $1,878,813.74 * 0.035 = $65,758.48. High: $1,878,813.74 * 0.185 = $347,580.54.