Highlights of Panera Bread’s Item 19 Financial Performance Representations (2012 FDD) – Part 2

Section II – Statement of Average Net Profit and EBITDA of Company-Owned Bakery-Cafes for the Fiscal Year Ending December 27, 2011

Gross Revenues – are comprised of the aggregate gross amount of all sales of food, beverages, and other products and merchandise sold and services rendered, but does not include sales or service taxes.

Average Amount: $2,388,132
% of Average Gross Revenues: 100%
Number Attaining or Surpassing the Average Amount: 268
% Attaining or Surpassing % of Average Gross Revenues: 42.9%

Discounts – consist of the dollar amount of coupons, MyPanera Rewards Program, other promotional discounts, and employee meals.

Average Amount: $80,068
% of Average Gross Revenues: 3.4%
Number Attaining or Surpassing the Average Amount: 260
% Attaining or Surpassing % of Average Gross Revenues: 41.7%

Net Sales – the aggregate gross amount, determined in accordance with Panera Standards, of all sales of food, beverages, and other products or merchandise sold and services rendered in connection with the Panera Bread Bakery-Cafe, including monies derived from sales at or away from the Panera Bread Bakery-Cafe, whether for cash or credit, but excluding (1) all federal, state, or municipal sales or service taxes collected from customers and paid to the appropriate taxing authorities; and (2) all customer refunds and adjustments, and promotional discounts made by the Panera Bread Bakery-Cafe.

Average Amount: $2,308,064
% of Average Gross Revenues: 96.6%
Number Attaining or Surpassing the Average Amount: 275
% Attaining or Surpassing % of Average Gross Revenues: 44.1%

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