Statement From Guzman Y Gomez Founder & Ceo, Steven Marks

STATEMENT FROM GUZMAN Y GOMEZ FOUNDER & CEO, STEVEN MARKS

Wednesday 20 July 2022

This morning there was a report in the Australian Financial Review implying that investment banks were considering a merger between Guzman y Gomez and Zambrero.

There is absolutely no truth to that report.

GYG has a team of world class Directors, Investment partners, Senior Executives, Franchisees, Suppliers and over 10,000 of the best hospitality crew in the country. Over the last 16 years, Guzman y Gomez has grown to over 170 restaurants in four countries and every single year we have had a laser like focus on our mission to re-invent fast food.

I am so proud of this brand and what we have collectively achieved. GYG has no need, no desire, and no intention of undertaking a merger with any other business. Others putting 'rumours' into market to prop themselves up is an unfortunate and mildly comical distraction which should not gain any further traction as it's simply not true.

At GYG we are focused on our own business, brand, food, and guest experience.

GYG is one of a handful Australian businesses to become a "unicorn" with a private valuation of over $1 billion.

Our valuation is not based on the number of restaurants we operate. GYG's valuation is based on;

- The exceptional revenue (AUV) each GYG restaurant generates
- Our profitability
- Our growing number of new restaurants; and
- The potential we have to re-Invent fast food and build thousands of restaurants here and globally.

I am so incredibly proud of everyone who has played a part in this success, and I do not want those efforts to be diminished by others assuming they are the same as GYG.

GYG knows our place in the market and our results are reflective of this.

- GYG leads the Australian market in Authentic Mexican food. This is evident in the record- breaking week we recorded last week. GYG broke our national sales record, transaction record, breakfast sales record and app sales record. GYG served over 600,000 people last week alone.

- GYG's average unit volume (AUV) per restaurant outperforms even the most established fast-
food brands in Australia

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