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*This figure represents the net sales achieved for calendar year 2021 at five (5) affiliate owned restaurants and eight (8) franchised restaurants. **This figure represents the average EBITDA achieved for calendar year 2021 as a percentage of consolidated net sales at the same five (5) affiliate owned restaurants and eight (8) franchised restaurants. *** This figure represents the Median Initial Investment to open the same five (5) affiliate owned restaurants and six (6) of the same eight (8) franchised restaurants above, all of which were opened in Second Generation Sites. **** This figure represents the Total Estimated Initial Investment to open an Angry Crab Shack in a Second Generation Site. Second Generation Sites are restaurant locations where the operator utilized a premises that was previously operated as a restaurant and therefore requires less initial investment to open and operate. Most Angry Crab Shacks are opened in Second Generation Sites. Each of the included restaurants were open for all of calendar year 2021. This information appears in Item 19 of our Franchise Disclosure Document (FDD). You should review our FDD for details about these results. Your results may differ. There is no assurance that you will do as well.

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