Wendy : Rebel Foods and Sierra Nevada Restaurants Announce Strategic Partnership in India for Approximately 400 Restaurants

The Wendy's Company, Rebel Foods and Sierra Nevada Restaurants Announce Strategic Partnership in

India for Approximately 400 Restaurants

Rebel Foods and Sierra Nevada Restaurants Partner to Open Approximately 250 Wendy's Cloud Kitchens

Across India

Sierra Nevada Restaurants to Add 150 Traditional Wendy's Restaurants

Partnership Expands Wendy's Presence in India from Delhi-NCR to Nationwide

DUBLIN, Ohio and NEW DELHI, India, December 1, 2020 - The Wendy's Company (Nasdaq: WEN), Rebel Foods and Sierra Nevada Restaurants today announced a strategic partnership to expand Wendy's® presence in India over the next decade. As part of the expansion plans, Rebel Foods will partner with Sierra Nevada Restaurants to develop and operate approximately 250 Wendy's cloud kitchens across India, and

Sierra Nevada will develop 150 traditional Wendy's restaurants.

Rebel Foods is the world's largest operator of online restaurants with over 300 cloud kitchens across India, UAE, South East Asia and the United Kingdom. Sierra Nevada Restaurants launched Wendy's in India in 2015 and operates four traditional restaurants and five cloud kitchens in Delhi's National Capital Region.

Wendy's and its franchisees operate more than 6,800 restaurants worldwide with a vision of becoming the world's most thriving and beloved restaurant brand.

Abigail Pringle, President, International & Chief Development Officer of The Wendy's Company,said:

"We are delighted to welcome Rebel Foods into the Wendy's family and to expand our relationship with Sierra Nevada Restaurants. This reflects Wendy's commitment to growing our International business in strategic high-growth potential markets through both traditional restaurant expansion and digital innovation with the meaningful addition of approximately 400 restaurants. We look forward to expanding our presence in India and continuing to grow the Wendy's footprint around the world."

Jasper Reid, CEO of Sierra Nevada Restaurants,said: "We are thrilled to deepen our partnership with Wendy's through our relationship with Rebel Foods, whom we admire and respect. We know that convenience is king and customers want Wendy's everywhere. Omni-channel is key and a game-changer for QSR. This collaboration demonstrates Sierra Nevada's commitment to scale Wendy's across India."

Kallol Banerjee, Co-founder of Rebel Foods,said: "This is a game-changing partnership. Rebel Foods, Wendy's and Sierra Nevada all believe in quality, speed, and the convenience that comes from multiple channels. For generations, brands building a national presence relied solely on a brick-and-mortar strategy and made significant investments over decades. By partnering with the Rebel Foods network of existing kitchens in India, Wendy's will get immediate access to rapid scale across the country, at far lower levels of capital. We have always wanted to partner with a world-class burger brand, and this partnership with a globally beloved name is a fantastic addition to our portfolio."

Forward Looking Statements

This release contains certain statements that are not historical facts, including statements regarding the

Company's intention to expand its presence in India in partnership with Rebel Foods and Sierra Nevada

Restaurants. Those statements, as well as statements preceded by, followed by or that include the words "will," "may," "believes," "intends," "plans," "expects," "anticipates," or similar expressions constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Reform Act"). The forward-looking statements are based on the Company's expectations at the time,

speak only as of the dates they are made and are susceptible to a number of risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from those expressed or implied in any forward-looking statement. These factors include, but are not limited to, the factors identified in the "Special Note Regarding Forward-Looking Statements and Projections" and "Risk Factors" sections of our Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q and in our

other filings with the Securities and Exchange Commission. For all forward-looking statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Reform Act.

About Wendy's

Wendy's® was founded in 1969 by Dave Thomas in Columbus, Ohio. Dave built his business on the premise, "Quality is Our Recipe®," which remains the guidepost of the Wendy's system. Wendy's is primarily engaged in the business of operating, developing and franchising a system of distinctive quick-service restaurants serving high quality food. The Wendy's Company (Nasdaq: WEN) is committed to doing the right thing and making a positive difference in the lives of others. Today, Wendy's and its franchisees operate more than 6,800 restaurants worldwide with a vision of becoming the world's most thriving and beloved restaurant brand. For details on franchising, connect with us atwww.wendys.com/franchising.

Visitwww.wendys.com andwww.squaredealblog.com for more information and connect with us on Twitter and Instagram using @wendys, and on Facebook atwww.facebook.com/wendys.

About Rebel Foods

Rebel Foods is the world's largest operator of online restaurants with over 300 cloud kitchens across India, UAE, South East Asia and the United Kingdom. Rebel was founded by Jaydeep Barman and Kallol Banerjee with investment from Sequoia Capital and other world-class private equity firms. In addition to Wendy's,

Rebel Food's operates Faasos, Behrouz Biryani, Mandarin Oak, Oven Story, Sweet Truth and a host of

brands globally, included region-specific players such as Holy Cow in the United Kingdom. Visithttps://rebelfoods.co/ for more information.

About Sierra Nevada Restaurants

Sierra Nevada Restaurants is the India Master Franchisee for Wendy's. Sierra is owned and managed by IMM, a UK investor, with a strategic stake held by Hunch Ventures, a consumer-focused venture fund. IMM also partners with a range of tier one brands around the world including the Jamie Oliver Group whose restaurant brands IMM owns and manages in India. The IMM vision is to establish India's most respected and profitable food group. For more information visitwww.immassociates.com and for Wendy's India visitwww.facebook.com/wendysindia or connect on Instagram using @wendysindia.

FOR MORE INFORMATION:

Wendy's Media Contact

Heidi [e-mail]

Sierra Nevada and Rebel Foods Media Contact Jaspreet Kaur

One Source [phone]