The Wendy's Company Announces it is Evaluating a Potential Debt Raise Transaction

Company Revises Dates to Report Fourth Quarter and Full Year 2021 Results and to Host 2022 Investor Day

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Jan 18, 2022, 16:30 ET

DUBLIN, Ohio, Jan. 18, 2022 /PRNewswire/ -- The Wendy's Company (Nasdaq: WEN) announced today that it is evaluating, subject to market and other conditions, a potential debt raise transaction within its securitized debt facility. If the Company proceeds with this transaction it could complete this as early as the end of the first quarter of 2022. If the transaction is completed, the Company expects to use the net proceeds from the transaction in accordance with its capital allocation policy, including investments to support the growth of the Wendy's brand or the return of capital to shareholders through dividends and share repurchases. As a result of the timing of this potential transaction, the Company has revised the dates for reporting its fourth quarter and full year 2021 results and hosting its 2022 investor day.

Fourth Quarter and Full Year 2021 Results

The Company will release its fourth quarter and full-year 2021 results and issue its 2022 outlook before the market opens on Tuesday, March 1. The Company will host a conference call that same day at 8:30 a.m. ET, with a simultaneous webcast from the Company's Investor Relations website at www.irwendys.com. The related presentation materials will also be available on the Company's Investor Relations website. The live conference call will be available by telephone at (866) 211-4759 for domestic callers and (647) 689-6752 for international callers. An archived webcast and presentation materials will be publicly available on the Company's Investor Relations website.

2022 Investor Day

The Company will host a virtual investor day on Thursday, June 9, where it plans to provide an update on its long-term strategic vision and re-introduce its long-term outlook. The event will be available to all interested parties via webcast from the Company's Investor Relations website at www.irwendys.com.

Forward-Looking Statements

This press release contains certain statements that are not historical facts, including statements regarding the Company's evaluation of a potential debt raise transaction, including the size and timing of, and expected use of proceeds from, any such transaction. Those statements, as well as statements preceded by, followed by, or that include the words "will," "may," "believes," "intends," "plans," "expects," "anticipates," or similar expressions constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Reform Act"). The forward-looking statements are based on the Company's expectations at the time, speak only as of the dates they are made and are susceptible to a number of risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from those expressed or implied in any forward-looking statement. These factors include, but are not limited to the Company's ability to complete the potential debt raise transaction on the terms or timeline described or at all as well as the factors identified in the "Special Note Regarding Forward-Looking Statements and Projections" and "Risk Factors" sections of our Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q and in our other filings with the Securities and Exchange Commission. For all forward-looking statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Reform Act.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities. Any debt securities, if offered, will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws.

About Wendy's

Wendy's^® was founded in 1969 by Dave Thomas in Columbus, Ohio. Dave built his business on the premise, "Quality is our Recipe^®," which remains the guidepost of the Wendy's system. Wendy's is best known for its made-to-order square hamburgers, using fresh, never frozen beef*, freshly-prepared salads, and other signature items like chili, baked potatoes and the Frosty^® dessert. The Wendy's Company (Nasdaq: WEN) is committed to doing the right thing and making a positive difference in the lives of others. This is most visible through the Company's support of the Dave Thomas Foundation for Adoption^® and its signature Wendy's Wonderful Kids^® program, which seeks to dramatically increase the number of adoptions of children waiting in North America's foster care systems. Today, Wendy's and its franchisees employ hundreds of thousands of people across more than 6,800 restaurants worldwide with a vision of becoming the world's most thriving and beloved restaurant brand. For details on franchising, connect with us at www.wendys.com/franchising. Visit www.wendys.com and www.squaredealblog.com for more information and connect with us on Twitter and Instagram using @wendys, and on Facebook at www.facebook.com/wendys.