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Investor Presentation

November 3, 2021

Safe Harbor Statement

This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. This includes, without limitation, financial guidance and projections and statements with respect to expectations of the Company's future financial condition, results of operations, cash flows, plans, targets, goals, objectives, performance, growth potential, engines and opportunities, expected growth rates, industry-leading comparable sales growth, competitive position and business; annualized average unit volume; the Company's strong foothold in the off-premise channel supporting the business in the COVID-19 environment; recovery from the COVID-19 pandemic; the Company's ability to leverage its brand power, sales, scale and operational expertise to drive margin performance and unit growth; statements from the Company's corporate social responsibility report; the opportunity for additional domestic and foreign locations and licensees and territories; target returns for new restaurant openings; performance of international licensed locations; the acquisitions of North Italia and Fox Restaurant Concepts ("FRC") and FRC as an incubation engine; anticipated unit growth roadmap; and resumption of strong unit growth.

Such forward-looking statements include all other statements that are not historical facts, as well as statements that are preceded by, followed by or that include words or phrases such as "believe," "plan," "will likely result," "result," " expect," " intend," "will continue," "continue," "is anticipated," "anticipated," "estimate," "project," "may," "could," "would," "should" and similar expressions. These statements are based on the Company's current expectations and involve risks and uncertainties which may cause results to differ materially from those set forth in such statements. These forward-looking statements also may be affected by various factors outside of the Company's control including the rapidly evolving nature of the COVID-19 pandemic and related containment measures, including the potential for a complete shutdown of the Company's restaurants, international licensee restaurants and the Company's bakery operations; supply chain disruptions; demonstrations, political unrest, potential damage to or closure of the Company's restaurants and potential reputational damage to the Company or any of its brands; economic, public health and political conditions that impact consumer confidence and spending, including the impact of the COVID-19 pandemic and other health epidemics or pandemics on the global economy; acceptance and success of The Cheesecake Factory in international markets; acceptance and success of North Italia, the FRC concepts and other concepts; the risks of doing business abroad through Company owned restaurants and/or licensees; foreign exchange rates, tariffs and cross border taxation; changes in unemployment rates; changes in laws impacting the Company's business, including laws and regulations related to COVID-19 impacting restaurant operations and customer access to off- and on-premise dining; increases in minimum wages and benefit costs; the economic health of the Company's landlords and other tenants in retail centers in which its restaurants are located, and the Company's ability to successfully manage its lease arrangements with landlords; unanticipated costs that may arise in connection with a return to normal course of business including potential negative impacts from furlough actions; the economic health of suppliers, licensees, vendors and other third parties providing goods or services to the Company; compliance with debt covenants; strategic capital allocation decisions including any share repurchases or dividends; the ability to achieve projected financial results; economic and political conditions that impact consumer confidence and spending; the resolution of uncertain tax positions with the Internal Revenue Service and the impact of tax reform legislation; adverse weather conditions in regions in which the Company's restaurants are located; factors that are under the control of government agencies, landlords and other third parties; the risks, costs and uncertainties associated with opening new restaurants; and other risks and uncertainties detailed from time to time in the Company's filings with the Securities and Exchange Commission ("SEC"). Forward-looking statements speak only as of the dates on which they are made and the Company undertakes no obligation to publicly update or revise any forward-looking statements or to make any other forward-looking statements, whether as a result of new information, future events or otherwise, unless required to do so by law. Investors are referred to the full discussion of risks and uncertainties associated with forward-looking statements and the discussion of risk factors contained in the Company's latest Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K as filed with the SEC, which are available at www.sec.gov.

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An Experiential Dining Category Leader

Culinary forward. First class hospitality. Concepts like no other.

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Investment Highlights

• Experiential dining category leader with diversified growth engines
• Leveraging the Company's differentiation and strong foothold in the off-premise channel to support the business in the COVID-19 environment
• Best-in-classoperational execution and industry-leading retention
• Significant and accelerating growth opportunities driving one of the highest expected growth rates in the casual dining industry

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The Cheesecake Factory - Global Footprint

Opportunity for 300 Domestic Locations Over Time &

Continued International Expansion

Toronto		Kuwait
	(3)		Beijing
		Bahrain		Shanghai (3)
Company-Owned: 208	Saudi	(1) Qatar
	(3)
	Arabia		UAE
	(4)		Macau Hong Kong
		(6)

Monterrey

Guadalajara

Mexico

City

(4)

International - Licensed: 29

High quality, high profile locations worldwide

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