The Wendy's Company Announces New Development Agreements in the Central Asia Region

The Brand Strategically Collaborates with Kusto Group and Global Investors Limited to Accelerate Growth Plans in The Republic of Georgia, Uzbekistan and Kazakhstan

News provided by

The Wendy’s Company

Jun 24, 2021, 09:00 ET

DUBLIN, Ohio, June 24, 2021 /PRNewswire/ -- The Wendy's Company (Nasdaq: WEN), the owners of Kusto Group, and Global Investors Limited ("Wissol Group") announced today three strategic development agreements to expand Wendy's® brand presence in the Central Asia Region over the next nine years.

Together, these partners will help deliver on Wendy's strategic growth pillar of expanding the brand's footprint, bringing the Wendy's presence to a total of 65 restaurants across The Republic of Georgia, Uzbekistan and Kazakhstan by 2030. To initiate the development plans, Kusto Group and Wissol Group opened the first two Wendy's restaurants in Kazakhstan located in the historic center of Almaty earlier this year, along with opening a new drive-thru only restaurant in May located on a Wissol gas station in the Gelovani district of Tbilisi, Georgia.

Abigail Pringle, President, International and Chief Development Officer of The Wendy's Company, said, "We're excited to expand Wendy's presence across the Central Asia Region with world-class, experienced franchisees that have strong operations experience, local development expertise and a proven track record for growing brands internationally. Kusto Group and Wissol Group, and their owners and affiliates, share our values and passion for quality and exceptional customer service. We firmly believe that our great-tasting, signature menu items – featuring made-to-order hamburgers, premium chicken sandwiches, fresh salads, fries, chili and Frosty® desserts – will appeal to consumers who are looking for more options and high-quality food at a great price."

Yerkin Tatishev, Chairman of the Board of Directors of Kusto Group, said, "Customers should expect high-quality, fresh products and ingredients from Wendy's. It is very important to our organization that menu items are prepared and sourced locally, working with farmers and suppliers in both Kazakhstan and Uzbekistan to deliver on Wendy's elevated menu standards."

Dr. Samson Pkhakadze, President of Wissol Group said, "We've been a proud Wendy's franchisee since we opened the first Wendy's restaurant in Georgia in 2014. We are thrilled to grow the Wendy's brand in Georgia, and to partner with Kusto Group, and their owners and affiliates, to bring Wendy's to Kazakhstan and Uzbekistan after making the brand a favourite restaurant in Georgia. Wendy's is a well-established, iconic global brand, and is known for quality. We have every confidence that the brand will also be successful and beloved by customers in the Central Asia Region."

Forward Looking Statements
This release contains certain statements that are not historical facts, including statements regarding the Company's intention to expand its presence in The Republic of Georgia, Uzbekistan, and Kazakhstan in collaboration with Kusto Group and Wissol Group. 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 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.

About The Wendy's Company
Wendy's^® was founded in 1969 by Dave Thomas in Columbus, Ohio, U.S.A. Dave built his business on the premise, "Quality is Our Recipe^®," which remains the guidepost of the Wendy's system. Wendy's is primarily engaged in the business of operating, developing and franchising a system of distinctive quick-service restaurants serving high quality food. The Wendy's Company (Nasdaq: WEN) is committed to doing the right thing and making a positive difference in the lives of others. Today, Wendy's and its franchisees operate 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 the following sites or connect with us on social media for more information:

The Republic of Georgia: https://wendys.ge/ge/wendys (website), https://www.facebook.com/WendysGeorgia (Facebook) or on Instagram using @wendysgeorgia
Kazakhstan: https://www.facebook.com/Wendys-Kazakhstan-109212694306323/ (Facebook) or on Instagram using @wendys.kz
Uzbekistan: https://www.facebook.com/wendysuzbekistan (Facebook)

About Kusto Group
International company Kusto Group was founded by Yerkin Tatishev and his partners in 2002. Today Kusto Group has a great experience in launching business projects in multiple directions and has more than 30 companies in 10 countries (Canada, China, Georgia, Israel, Kazakhstan, Russia, Singapore, Turkey, Vietnam, Ukraine). The main directions of "Kusto Group" – agribusiness, oil and gas, real estate, construction materials and retail.

About Global Investors Limited
The "Wissol Group", one of the largest business groups in Georgia, is involved in different sectors of the local economy. The group is represented by its sub-brands: Wissol Petroleum Georgia – owner and operator of the widest chain of petrol stations throughout Georgia; Smart Retail – a fast-growing food supermarket chain; Wissol Auto Express – the exclusive partner of French oil giant TOTAL retailing lubricants in Georgia; MP Development – Real Estate Developer; Alma – outdoor and indoor advertising company; franchisee and developer of restaurant chain under US Wendy's brand; franchisee and developer of restaurant chain under US Dunkin' brand.

For more information, please contact:

Georgia Media Contact:
Rusudan Kbilashvili, Head of PR and CSR, Wissol Group
995.577.102. 201 or [email protected]

Kazakhstan Media Contact:
Anail Bykov, Chief Executive Officer
+7 705 772 72 52 or [email protected]

The Wendy's Company Media Contact:
Megan Hill, Manager of Global Communications
+1 614.764.6749 or [email protected]

SOURCE The Wendy’s Company