Portillo's Inc. · NASDAQ:PTLO
Portillo's — ICR Conference 2026
27 slides from Portillo's's conference presentation, Jan 12, 2026
Slide 1: ICR Conference
ICR Conference January 12, 2026 1
Slide 2: Cautionary Note on Forward-Looking Statements & Non-GAAP Measures
CAUTIONARY NOTE ON FORWARD-LOOKING STATEMENTS & NON-GAAP MEASURES This presentation contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995 ("PSLRA"). All statements other than statements of historical fact are forward- looking statements. Forw
Slide 3: Main Topics for Today
MAIN TOPICS FOR TODAY PORTILLO’S: GROWTH: STRENGTHENING A TRULY BELOVED SUCCESSES AND OUR PROFITABLE BRAND LESSONS LEARNED MODEL 3
Slide 4: Portillo's: A Truly Beloved Brand
PORTILLO’S: A TRULY BELOVED BRAND 4
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Slide 6: The Portillo's Experience has created a legion of obsessed fans
The Portillo’s Experience has created a legion of obsessed fans. 80 2025 Net Promoter Score (NPS)(1) 64 63 62 62 61 60 57 57 56 40 NPS 28 20 0 (1) Net promoter score measures consumer enthusiasm and advocacy based on a single survey question. Scores shown from guests who indicate they visit each bra
Slide 7: Our fans satisfy their cravings through all channels
Our fans satisfy their Portillo’s cravings through all channels, creating industry-leading volumes in each … Average Unit Volumes ("AUV") $3.7M $3.4M $1.5M Dine-In + Carry Out Drive-Thru Delivery + Catering (~43% of Sales) (~39% of Sales) (~18% of Sales) Note: Dine-In defined as any order served ove
Slide 8: Top-tier average AUVs versus prominent peers
… which drives top-tier average AUVS versus prominentHOME peers MARKET and fast-casual competitors. OUTSIDE HOME MARKET AVERAGE UNIT VOLUME $9.2M $8.6M $6.6M $5.8M $4.0M $4.0M $3.9M $3.1M $2.9M $2.8M Source: Public company filings, QSR Note: AUV for Portillo’s, Chipotle, CAVA, and Sweetgreen is pres
Slide 9: Exceptionally high engagement with our new Perks program
Our fans’ devotion drives exceptionally high engagement with our new, unique Perks program. Timely, Relevant 2025 Campaigns Total New Members Surprised and Delighted Fans 2,100,000 2,000,000 1,900,000 1,800,000 1,700,000 1,600,000 0 Mar-25 Dec-25 2.1M+ Total Members Now 10.1% of total sales in 10 mo
Slide 10: Portillo's fanatics will drive long distances to get their fix
Portillo’s fanatics will drive long distances to get their “fix.” ATLANTA © 2025 Portillo’s Hot Dogs | All rights reserved | Do not share or duplicate confidential content, in whole or part, without written consent 10
Slide 11: Portillo's fanatics will drive long distances to get their fix
Portillo’s fanatics will drive long distances to get their “fix.” © 2025 Portillo’s Hot Dogs | All rights reserved | Do not share or duplicate confidential content, in whole or part, without written consent 11
Slide 12: Kennesaw is the most recent example of pent-up new-market demand
Kennesaw is the most recent example of pent-up new-market demand for Portillo’s … #100 $302K MILESTONE LAST WEEK’S RESTAURANT SALES OPENING 3RD $2.2M BIGGEST SALES IN THE OPENING FOR FIRST 7 WEEKS PORTILLO’S KENNESAW, GA, RESTAURANT (30 MINS. FROM DOWNTOWN ATLANTA) OPENED ON NOV. 14, 2025 © 2025 Por
Slide 13: Continues our streak of strong entries into brand new states
…and continues our streak of strong entries into brand new states. © 2025 Portillo’s Hot Dogs | All rights reserved | Do not share or duplicate confidential content, in whole or part, without written consent 13
Slide 14: Growth: Successes and Lessons Learned
GROWTH: SUCCESSES AND LESSONS LEARNED 14
Slide 15: Portillo's has delivered decades of growth
Portillo’s has delivered decades of growth … 110 102 94 Number of Restaurants by Fiscal Year 84 72 69 64 62 57 52 46 41 38 38 34 34 34 34 35 32 33 31 29 26 27 23 24 22 18 19 16 17 14 10 11 7 8 5 6 4 1 1963 … 1968 1969 1971 1976 1983 1984 1986 1987 1989 1990 1992 1993 1994 1998 1999 2001 2002 2003 20
Slide 16: Expanded from its Chicago base over the last 20 years
… and has successfully expanded from its Chicago base over the last 20 years. 2017 2016 2021 2019 2006 2005 2013 Market 2025 2023 Chicagoland 2016 Midwest Sunbelt 16
Slide 17: Our earliest new market locations have matured into strong performers
Our earliest new market locations have matured into strong performers. FY 2025 Sales $11.0M $10.2M Average $8.0M $7.2M $9.1M Buena Park Merrillville Scottsdale Tempe Buena Park , CA Merrillville, IN Scottsdale, AZ Tempe, AZ 2005 2006 2013 2013 © 2025 Portillo’s Hot Dogs | All rights reserved | Do no
Slide 18: Our first fully developed non-Chicago market compares favorably with peers
Our first fully developed non-Chicago market has results that compare favorably with peers. Phoenix Market Entry 2016 2013 Number of 8 8 Restaurants $3.9M (Company- $5.8 (Phoenix Only) AUVs Owned Locations) Awareness / Trial / Usage Aware 56% Aware 49% 55% 63% Trial 31% Trial 31% 13% 29% Regular Use
Slide 19: Attempts to quickly penetrate markets spread demand across too many locations
Recently, attempts to quickly penetrate markets spread demand across too many locations. Houston Market Map Houston Market Sales Richmond, TX Katy, TX Willowbrook, TX Tomball, TX Stafford, TX 450K 400K 350K 300K Weekly Sales 250K 200K 150K 100K 50K 0K 1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49
Slide 20: We have right-sized our restaurants to deliver better unit economics
We have also right-sized our restaurants to deliver better unit economics. Humble Beginnings 2016 2019 2023 2025 Villa Park, IL Chicago (C&T), IL Roseville, MN Allen, TX Kennesaw, GA 6,250 sq. ft. 4,220 sq. ft. 9,300 sq. ft. 11,300 sq. ft. 7,700 sq. ft. (Restaurant of the Future 1.0) 20
Slide 21: We are moving forward with the growth reset
We are moving forward with the growth reset announced last fall. • Leverage our base of superfans with new market entries but recognize that building demand beyond that base takes time. • Real estate decisions will be guided by a new site selection model. • Open fewer restaurants in more territories
Slide 22: 2026 and 2027 will move us in the right direction
Although some legacy sites remain in the pipeline, 2026 and 2027 will move us in the right direction. DFW Airport – Spring 2026 Class of 2025 Class of 2026 Class of 2027 8 New 8 New 8 New Restaurants Restaurants Restaurants All ROTF 1.0 Diverse Formats Diverse Formats Chicago Inline – Fall 2026 ROTF
Slide 23: People are the Heart of Portillo's
People are the Heart of Portillo’s, and are well- aligned on our new approach. FAMILY GREATNESS ENERGY FUN ~25 POINT Lower Turnover Than Fast Casual Segment(1) (1) Based on data from Blackbox for non-management positions as of December 31, 2025. 23
Slide 24: Strengthening Our Profitable Model
STRENGTHENING OUR PROFITABLE MODEL 24
Slide 25: Preliminary 2025 Key Financial Results
Preliminary 2025 Key Financial Results(1) Q4 FY 2025 Same-Restaurant Sales(2) -3.3% -0.5% Price 2.3% 3.2% Transactions (3.3%) (2.5%) Mix (2.3%) (1.2%) Total Revenue $185.7M $732.1M Restaurant-Level Adjusted EBITDA(3) $40.6M $158.4M Adjusted EBITDA(4) $24.7M $97.3M (1) Results are preliminary and una
Slide 26: FY 2026 Outlook
FY 2026 Outlook 8 New Restaurants New Restaurant Timing First Half 6 Commodity Inflation Mid single digit Second Half 2 • First-ever airport location (Dallas Fort-Worth) Labor Inflation 3.0% to 3.5% • Second inline location (Chicago) Restaurant-Level Adjusted EBITDA Margin(1) 20.5% to 21% • ~$9M Adj
Slide 27: Come visit us here in Orlando!
Come visit us here in Orlando! 10 MINUTE DRIVE TO 7715 PALM PKWY 27