rrgb2q17supplementalfina

CLASSIFIED – INTERNAL USE Second Quarter 2017 Results August 8, 2017

2CLASSIFIED – INTERNAL USE Forward-Looking Statements Forward-looking statements in this presentation regarding the Company’s strategic initiatives, future performance, off-premise sales, marketing campaign, earnings per share, interest expense, statements under the heading “Outlook for 2017” and all other statements that are not historical facts, are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on assumptions believed by the Company to be reasonable and speak only as of the date on which such statements are made. Without limiting the generality of the foregoing, words such as “expect,” “anticipate,” “intend,” “plan,” “project” or “estimate,” or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. Except as required by law, the Company undertakes no obligation to update such statements to reflect events or circumstances arising after such date, and cautions investors not to place undue reliance on any such forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those described in the statements based on a number of factors, including but not limited to the following: the effectiveness of the Company’s business improvement initiatives; the ability to fulfill planned expansion and restaurant remodeling; the effectiveness of marketing strategies and initiatives to achieve restaurant sales growth; the cost and availability of key food products, labor, and energy; the ability to achieve anticipated revenue and cost savings from new technology systems and tools in the restaurants and other initiatives; the ability to increase carry-out and other off-premise sales; availability of capital or credit facility borrowings; the adequacy of cash flows or available debt resources to fund operations and growth opportunities; federal, state, and local regulation of the Company’s business; and other risk factors described from time to time in the Company’s Form 10-K, Form 10-Q, and Form 8-K reports (including all amendments to those reports) filed with the U.S. Securities and Exchange Commission. This presentation may also contain non-GAAP financial information. Management uses this information in its internal analysis of results and believes that this information may be informative to investors in gauging the quality of the Company’s financial performance, identifying trends in results, and providing meaningful period- to-period comparisons. For a reconciliation of non-GAAP measures presented in this document, see the Appendix of this presentation or the Schedules to the Q1 press release posted on redrobin.com.

3CLASSIFIED – INTERNAL USE Red Robin Q2-2017 Results • Total revenues increased 3.3% • Comparable restaurant revenue up 0.5% • Restaurant-level operating profit(1) was 19.9% compared to 20.9% in the prior year • Adjusted EBITDA(1) was $32.3 million • Diluted earnings per share were $0.53 compared to $0.55 in Q2 2016. Adjusted diluted EPS(1) were $0.61 compared to $0.75 in the prior year • Opened 3 new Red Robin® restaurants (1) See reconciliations of non-GAAP financial measures to the most comparable GAAP financial measures in Appendix.

4CLASSIFIED – INTERNAL USE Driving Satisfaction and Loyalty • Elevating Guest Experience, Value Perception, Ad Effectiveness, To-Go • Improving speed of service, taste and order accuracy • Continuing to achieve consistently stronger Net Promoter Scores

© 2017 Technomic Inc. 5CLASSIFIED – INTERNAL USE %Top Box “Provides Value Through High Quality Menu Items” (vs. peers) Base: 700 recent guests per year for each chain tracked (350 recent guests for 2017 YTD) Source: Consumer Brand Metrics, Technomic Inc. 43.5% 40.1% 48.3% 47.5% 48.1% 49.8% 49.5% 48.1% 30.0% 35.0% 40.0% 45.0% 50.0% 55.0% 2014 2015 2016 Q1 - Q2 2017 Ability to Provide Value through High Quality Items Competitor A Competitor B Competitor C Competitor D Red Robin Gourmet Burgers & Brews Best In Class Average

6CLASSIFIED – INTERNAL USE “Let’s Burger” Campaign

7CLASSIFIED – INTERNAL USE Investing in Off-Premise Opportunities

8 Staged Deployment in Carryout 0 460 Online Ordering 0 460 New Packaging 0 460 Call Center 0 460 In-Store Pickup / Designated Resource 0 460 Curbside Q4Q2 Q3Q1Locations Q4 2016

9CLASSIFIED – INTERNAL USE Optimizing Our Labor Models

CLASSIFIED – INTERNAL USE 10 Financial Update

11CLASSIFIED – INTERNAL USE Q2-17 Sales Highlights Q2-17 (12 Weeks) Q2-16 (12 Weeks) Change Q7-16 YTD (28 Weeks) Q2-16 YTD (28 Weeks) Change Restaurant revenue $312.4 million $302.2 million 3.4% $725.8 million $698.9 million 3.9% Total company revenues $315.8 million $305.5 million 3.3% $734.3 million $707.7 million 3.8% Company-owned comp revenue(1) 0.5% -3.2% -0.4% -2.7% Price/Mix -0.5% 0.7% 0.1% 1.3% Guest counts 1.0% -3.9% -0.5% -4.0% Franchised comp revenue -1.9% -3.0% -2.7% -1.2% Company avg. weekly revenue/unit(1) – total $55,234 $54,877 0.7% $55,333 $55,500 -0.3% Company avg. weekly revenue/unit(1) – comp $56,018 $55,760 0.5% $56,308 $56,511 -0.4% Avg. weekly restaurant level operating profit/unit(1) – comp $11,194 $11,961 -6.4% $11,557 $12,624 -8.5% Red Robin operating weeks 5,655 5,504 2.7% 13,117 12,592 4.2% Net Sales/ sq. ft (TTM) $447 $458 -2.4% (1) Calculated at constant currency rates.

12CLASSIFIED – INTERNAL USE Comparable Restaurant Revenue Trend(1) 3.1% 2.9% 3.5% -2.0% -2.6% -3.2% -3.6% -4.3% -1.2% 0.5% -4.5% -2.5% -0.5% 1.5% 3.5% 5.5% Q1-15 Q2-15 Q3-15 Q4-15 Q1-16 Q2-16 Q3-16 Q4-16 Q1-17 Q2-17 (1) Calculated at constant currency rates.

13CLASSIFIED – INTERNAL USE 23.0% 22.5% 21.6% 21.9% 22.5% 20.9% 18.6% 19.0% 20.7% 19.9% 16.0% 17.0% 18.0% 19.0% 20.0% 21.0% 22.0% 23.0% 24.0% 25.0% Q1 Q2 Q3 Q4 2015 2016 2017 Restaurant Level Operating Profit (1) Margins 13 (1) See Appendix for reconciliation of non-GAAP restaurant-level operating profit to net income (loss)

14CLASSIFIED – INTERNAL USE Q2-17 Restaurant Results 14 % of Restaurant Revenue Q2-17 % of Restaurant Revenue Q2-16 Favorable (Unfavorable) Cost of sales 23.7% 23.4% (30 bps) Labor 34.7% 34.0% (70 bps) Other operating 13.7% 13.4% (30 bps) Occupancy 8.0% 8.3% 30 bps Restaurant Level Operating Profit(1) 19.9% 20.9% (100 bps) (1) See Appendix for reconciliation of non-GAAP restaurant-level operating profit to net income (loss)

15CLASSIFIED – INTERNAL USE $45.5 $33.6 $30.0 $34.3 $48.9 $33.5 $26.8 $29.2 $45.8 $32.3 $10.0 $15.0 $20.0 $25.0 $30.0 $35.0 $40.0 $45.0 $50.0 $55.0 Q1 Q2 Q3 Q4 2015 2016 2017 Adjusted EBITDA(1)(2) ($ in millions) 15 (1) See Appendix for reconciliation of non-GAAP Adjusted EBITDA to Net Income (Loss) (2) To conform with current period presentation and to provide an EBITDA measure comparable to other companies in our industry, stock-based compensation is included in EBITDA in all prior periods presented.

16CLASSIFIED – INTERNAL USE Adjusted Earnings Per Diluted Share $1.10 $0.78 $0.58 $0.86 $1.27 $0.75 $0.38 $0.35 $0.89 $0.61 $0.15 $0.35 $0.55 $0.75 $0.95 $1.15 $1.35 Q1 Q2 Q3 Q4 2015 2016 2017 16 See Appendix for reconciliation of non-GAAP Adjusted Earnings Per Diluted Share to Earnings (Loss) Per Diluted Share

17CLASSIFIED – INTERNAL USE Outlook for 2017 • Earnings per diluted share projected to range from $0.20 to $0.30 for the third quarter and will approximate the low end of the $2.80 to $3.10 guidance for full-year 2017. • Cost of sales, as a percentage of restaurant revenue, projected to be in the range of down 25 basis points to up 25 basis points versus 2016 due to the impact of higher ground beef and potato prices in the last half of the year. • Restaurant labor costs, as a percentage of restaurant revenue, projected to range from flat to an increase of 50 basis points compared to 2016. • General and administrative expense expected to be slightly less than Company’s original estimate of $100 million. • Tax rate projected to be in the range of 15% to 20%. Note on Guidance Policy: The Company provides only annual guidance as it relates to revenues, comparable restaurant revenue growth, operating weeks associated with locations opened, cost of sales and restaurant labor costs as a percentage of restaurant revenue, other operating expenses (other than interest expense), depreciation and amortization, general and administrative expense, selling expense, pre-opening expense, income tax rate, EBITDA, earnings per diluted share, overall capital expenditures and restaurant openings and closings. The Company intends to only provide updates if there is a material change versus the previously communicated guidance.

18CLASSIFIED – INTERNAL USE In Closing 18

19CLASSIFIED – INTERNAL USE Thank you to all of our Team Members! 17

CLASSIFIED – INTERNAL USE 20 Appendix

21CLASSIFIED – INTERNAL USE Adjusted Net Income(1) $15.6 $11.2 $8.3 $12.0 $17.6 $10.3 $5.0 $4.5 $11.6 $7.9 $2.0 $4.0 $6.0 $8.0 $10.0 $12.0 $14.0 $16.0 $18.0 Q1 Q2 Q3 Q4 2015 2016 2017 ($ in millions) 21 (1) See Appendix for reconciliation of non-GAAP Adjusted Net Income to Net Income (Loss)

22CLASSIFIED – INTERNAL USE $36.0 $31.3 $34.0 $39.6 $42.5 $24.6 $27.6 $4.3 $70.0 $34.7 $0.0 $10.0 $20.0 $30.0 $40.0 $50.0 $60.0 $70.0 $80.0 Q1 Q2 Q3 Q4 2015 2016 2017 Cash Flow from Operations ($ in millions) 22

23CLASSIFIED – INTERNAL USE Q2-17 Commodity Update As of July 9, 2017, approximately 67% of the Company’s estimated food and beverage purchases for the last half of 2017 were covered by fixed price contracts, most of which are scheduled to expire at various times through the end of 2017. 23 % of Total COGS in Q2-17 Market vs. Contract Ground beef 14.3% Market Steak fries 10.9% 100% contracted through 10/17 Poultry 9.8% 100% contracted though 1/18 Produce 8.4% 70% contracted through 10/17 Meat 7.2% Prime rib 100% through 10/17 Bread 6.1% Frozen bread 100% contracted through 12/17 Seafood 3.6% Cod and Shrimp 100% contracted through 12/17 Fry oil 1.7% 100% contracted through 6/18

24CLASSIFIED – INTERNAL USE Reconciliation of Adjusted Net Income to Net Income (Loss) and Adjusted Earnings Per Diluted Share to Earnings (Loss) Per Diluted Share 24 ($ in thousands, except per share data) 2015 2016 2017 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Net income (loss) as reported $ 16,565 $ 11,166 $ 8,282 $ 11,691 $ 14,225 $ 7,552 $ (1,300) $ (8,752) $ 11,567 $ 6,931 Adjustments to net income (loss): Asset impairment and restaurant closure costs - - - 581 825 3,860 9,321 20,420 - 1,584 Litigation contingencies - - - - 3,900 - - - - - Reorganization costs - - - - - - - 1,322 - - Change in estimate for gift card breakage (1,369) - - - - - - - - - Income tax (expense) benefit of adj. 439 - - (227) (1,356) (1,153) (2,993) (8,470) - (618) Adjusted net income $ 15,635 $ 11,166 $ 8,282 $ 12,045 $ 17,594 $ 10,259 $ 5,028 $ 4,520 $ 11,567 $ 7,897 Diluted net income (loss) per share(1): Net income (loss) as reported $ 1.16 $ 0.78 $ 0.58 $ 0.84 $ 1.03 $ 0.55 $ (0.10) $ (0.68) $ 0.89 $ 0.53 Adjustments to net income (loss): Asset impairment and restaurant closure costs - - - 0.04 0.06 0.28 0.70 1.58 - 0.12 Litigation contingencies - - - - 0.28 - - - - - Reorganization costs - - - - - - - 0.10 - - Change in estimate for gift card breakage (0.09) - - - - - - - - - Income tax (expense) benefit of adj. 0.03 - - (0.02) (0.10) (0.08) (0.22) (0.65) - (0.04) Adjusted EPS - diluted $ 1.10 $ 0.78 $ 0.58 $ 0.86 $ 1.27 $ 0.75 $ 0.38 $ 0.35 $ 0.89 $ 0.61 (1) For the third and fourth quarters of 2016, the impact of dilutive shares is included in the calculations as the adjustments for the quarter resulted in adjusted net income. In the fourth quarter of 2016, the calculation for Asset impairment and restaurant closure costs includes $0.01 related to the effect of the diluted shares on net loss per share as reported.

25CLASSIFIED – INTERNAL USE Restaurant Level Operating Profit Reconciliation to Income from Operations and Net Income (Loss) ($ in thousands) 2015 2016 2017 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Restaurant revenue $ 388,509 $ 288,704 $ 279,496 $ 282,189 $ 396,770 $ 302,117 $ 293,858 $ 287,924 $ 413,451 $ 312,351 Restaurant operating costs(1): Cost of sales 97,950 71,665 68,197 66,825 92,325 70,831 69,447 65,646 94,607 73,903 Labor 124,356 93,513 92,097 93,551 132,984 102,847 102,294 101,107 145,519 108,422 Other operating 46,584 35,356 36,144 36,260 49,708 40,275 42,463 41,531 54,680 42,712 Occupancy 30,147 23,210 22,804 23,846 32,498 24,905 25,121 24,884 33,119 25,140 Restaurant-level operating profit 89,472 64,960 60,254 61,707 89,255 63,259 54,533 54,756 85,526 62,174 Add – Franchise royalties, fees, and other revenue 6,392 4,275 3,916 4,111 5,356 3,432 3,449 3,535 5,106 3,420 Deduct – Other operating: Depreciation and amortization 23,003 17,260 18,618 18,493 23,951 19,159 21,468 22,117 28,044 21,173 General and administrative expenses 34,995 23,044 23,709 21,257 31,980 19,972 20,328 19,015 30,913 21,927 Selling 13,066 11,082 7,899 8,027 11,408 11,047 8,718 9,169 12,362 10,167 Pre-opening and acquisition costs 955 1,369 2,239 2,445 2,372 2,238 2,382 1,033 1,855 1,377 Other charges(2) - - - 581 4,725 3,860 9,321 21,742 - 1,584 Total other operating 72,019 52,755 52,465 50,803 74,436 56,276 62,217 73,076 73,174 56,228 Income (loss) from operations 23,845 16,480 11,705 15,015 20,175 10,415 (4,235) (14,785) 17,458 9,366 Interest expense, net and other 1,060 904 1,098 747 1,638 1,486 1,612 2,046 2,984 2,453 Income tax expense (benefit) 6,220 4,410 2,325 2,577 4,312 1,377 (4,547) (8,079) 2,907 (18) Total other 7,280 5,314 3,423 3,324 5,950 2,863 (2,935) (6,033) 5,891 2,435 Net income (loss) $ 16,565 $ 11,166 $ 8,282 $ 11,691 $ 14,225 $ 7,552 $ (1,300) $ (8,752) $ 11,567 $ 6,931 (1) Excluding depreciation and amortization, which is shown separately. (2) Certain amounts presented in prior periods have been reclassified to conform with the current period presentation. See condensed consolidated statement of operations in Exhibit 99.1 for explanation of Other charges.

26CLASSIFIED – INTERNAL USE EBITDA and Adjusted EBITDA Reconciliation to Net Income (Loss) 26 2015 2016 2017 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Net income (loss) as reported $ 16,565 $ 11,166 $ 8,282 $11,691 $14,225 $ 7,552 $ (1,300) $ (8,752) $ 11,567 $ 6,931 Adjustments to net income (loss): Income tax expense (benefit) 6,220 4,410 2,325 2,577 4,312 1,377 (4,547) (8,079) 2,907 (18) Interest expense, net 1,088 805 777 959 1,655 1,555 1,822 2,161 3,249 2,626 Depreciation and amortization 23,003 17,260 18,618 18,493 23,951 19,159 21,468 22,117 28,044 21,173 EBITDA(1).. $ 48,322 $ 33,641 $ 30,002 $ 33,720 $ 44,143 $ 29,643 $ 17,443 $ 7,447 $ 45,767 $ 30,712 Asset impairment and restaurant closure costs - - - 581 825 3,860 9,321 20,420 - 1,584 Litigation contingencies - - - - 3,900 - - - - - Reorganization costs - - - - - - - 1,322 - - Change in estimate for gift card breakage (1,369) - - - - - - - - - Adjusted EBITDA $ 45,507 $ 33,641 $ 30,002 $ 34,301 $ 48,868 $ 33,503 $ 26,764 $ 29,189 $ 45,767 $ 32,296 ($ in thousands) (1) To conform with current period presentation and to provide an EBITDA measure comparable to other companies in our industry, stock-based compensation was excluded from EBITDA in all prior periods presented.