Real Restaurants: A Sausalito, CA Based Restaurant Group Tiburon Research November 12, 2018

Real Restaurants Comments 1 Founded in 1985 Founded by Bill Higgins, Bill Upson, & Cindy Pawlcyn Based in Sausalito, CA CEO: XXXX Web site: www.realrestaurants.com Source: 10/16/18 Bungalow 44 Web Site; 10/16/18 Marin Magazine Web Site; Tiburon Research & Analysis 1

Real Restaurants History Real Restaurants was Founded in 1985 and Has Subsequently Evolved through its Early, Middle, & Recent Phases Real Restaurants History Real Restaurants Founded Real Restaurants Today Early Phase Middle Phase Recent Phase Approximate Dates: 1985 1986 - 1995 1996 - 2010 2011 - 2019 2019 Key Steps: 1985: Real Restaurants founded XXXX: -- XXXX: -- XXXX: -- Source: 10/16/18 Bungalow 44 Web Site; 10/16/18 Marin Magazine Web Site; Tiburon Research & Analysis 2

Real Restaurants Businesses Real Restaurants Has a Number of Businesses, Including Bar Bocce, Bix, Bungalow 44, Buckeye Roadhouse, FOG CITY, PANoRAMA, Picco, Pizzeria Picco, & Zero Zero Real Restaurants Businesses Real Restaurants Businesses Bar Bocce Bix Bungalow 44 Buckeye Roadhouse FOG CITY PANoRAMA Picco Pizzeria Picco Zero Zero Source: 11/12/18 Real Restaurants Web Site; Tiburon Research & Analysis 3

Real Restaurants’ First Business is Bar Bocce Comments -- Source: Tiburon Research & Analysis 4

Real Restaurants’ Second Business is Bix Comments -- Source: Tiburon Research & Analysis 5

Real Restaurants’ Third Business is Bungalow 44 Comments Founded in 2005 Founded by Bill Higgins, Vanessa Higgins, & Peter Schumacher Based in Mill Valley, CA CEO: XXXX Web site: www.bungalow44.com Source: Tiburon Research & Analysis 6

Real Restaurants’ Fourth Business is Buckeye Roadhouse Comments -- Source: Tiburon Research & Analysis 7

Real Restaurants’ Fifth Business is FOG CITY Comments -- Source: Tiburon Research & Analysis 8

Real Restaurants’ Sixth Business is PANoRAMA Comments -- Source: Tiburon Research & Analysis 9

Real Restaurants’ Seventh Business is Picco Comments -- Source: Tiburon Research & Analysis 10

Real Restaurants’ Eighth Business is Pizzeria Picco Comments -- Source: Tiburon Research & Analysis 11

Real Restaurants’ Ninth Business is Zero Zero Comments -- Source: Tiburon Research & Analysis 12

Real Restaurants is Led by its CEO… Organizational Chart -- -- -- -- -- -- Source: Tiburon Research & Analysis 13

Real Restaurants Has a Board of Directors Led by its Chairman… -- -- -- -- -- -- -- -- -- -- Source: Tiburon Research & Analysis

Real Restaurants is Privately Owned Comments -- Source: Tiburon Research & Analysis 15

Real Restaurants is Owned by …. Needs data Real Restaurants Ownership By Owner Source: Tiburon Research & Analysis 16 16 16

Tiburon Strategic Advisors Comments Focus on corporate-level strategy Serve senior executives only at financial services companies Key services: market seminars, market research, & strategy consulting Served over 450 corporate clients and completed over 2,100 projects since 1998 Host semi-annual CEO Summits, offer free weekly research releases, and offer free business benchmarking tools for all types of advisors Chip Roame background McKinsey & Company Charles Schwab & Company Tiburon since 1998 Source: Tiburon Research & Analysis