Highlights of Chick-fil-A’s Item 19 Financial Performance Representations (2012 FDD)

The franchisee will operate a franchised Chick-fil-A Restaurant business, which is a quick-service restaurant specializing in a boneless breast of chicken sandwich.

The total investment necessary to begin operation of a franchised Chick-fil-A Restaurant business is from $227,830 to $1,329,900. This includes $5,000 that must be paid to Chick-fil-A, Inc., as the franchisor, or any affiliate.

Domestic Chick-fil-A Restaurants Included in Sample

As of December 31, 2011, there were approximately 1,591 domestic Chick-fil-A Restaurants and Licensed Units, including approximately 1,365 domestic Chick-fil-A Restaurants and 226 Chick-fil-A Licensed Units.

The domestic Chick-fil-A Licensed Units, which are operated by Chick-fil-A Licensees, and their annual sales volumes are not the subject of these financial performance representations.

As of December 31, 2011, approximately 1,324 of the 1,365 domestic Chick-fil-A Restaurants were being operated by Operators and 41 of the 1,365 domestic Chick-fil-A Restaurants were being operated by Chick-fil-A or its affiliates.

Approximately 1,290 of those 1,365 domestic Chick-fil-A Restaurants had been open for at least one full calendar year as of December 31, 2011.

Of these 1,290 domestic Chick-fil-A Restaurants, 9 were “Satellite” locations, and their annual sales volumes are not the subject of these financial performance representations. The remaining 1,281 domestic Chick-fil-A Restaurants that had been open for at least one full calendar year as of December 31, 2011, and their annual sales volumes are the subject of these financial performance representations.

Approximately 321 of the 1,290 domestic Chick-fil-A Restaurants that had been open for at least one full calendar year as of December 31, 2011 were located in malls, and approximately 960 of the 1,290 domestic Chick-fil-A Restaurants that had been open for at least one full calendar year as of December 31, 2011 were located in non-mall environments (e.g. Free Standing Units (“FSUs”) and Drive-Thru Only Units (“DTOs”).

Annual Sales Volume of Domestic Chick-fil-A Restaurants

For purposes of the financial performance representations set forth below, the term “annual sales volume” includes a Chick-fil-A Restaurant’s entire gross receipts (excluding only sales taxes levied upon retail sales and payable over to the appropriate governmental authority) from sales at, from or related to the Chick-fil-A Restaurant during the applicable calendar year, whether for cash or on a charge, credit, or time basis, including sales and services (i) where orders originate and/or are accepted at, in or away from the Chick-fil-A Restaurant, or (ii) pursuant to telephone or other similar orders received or filled at or in the Chick-fil-A Restaurant.

Both Chick-fil-A Restaurants located in malls and Chick-fil-A Restaurants located in non-mall environments are similar with respect to their operations and receive similar services from Chick-fil-A.

Additionally, the financial performance representations set forth below have been derived from the financial reporting statements of both independent, franchised Operator and company-operated Chick-fil-A Restaurants. Both are similar with respect to their operations, financial performance from an annual sales volume perspective, and receive similar services from Chick-fil-A.

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