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U.S. Department of Justice Drops All Charges Against Andrew Wiederhorn, FAT Brands, William Amon, and Rebecca Hershinger

1. U.S. Attorney dismissed all charges against FAT Brands' CEO Wiederhorn. 2. Wiederhorn maintains innocence; no victims or financial losses involved. 3. FAT Brands anticipates more than 100 new store openings this year. 4. Company holds 1,000 units in development, poised for continued growth. 5. FAT Brands operates over 2,300 locations, including well-known restaurant chains.

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FAQ

Why Bullish?

The dismissal of charges significantly reduces legal uncertainty for FAT, similar to past examples where resolved litigation led to stock appreciation.

How important is it?

The dismissal of charges allows FAT Brands to focus on business growth, enhancing investor confidence and potential stock value.

Why Short Term?

Immediate positive sentiment likely due to legal resolution, driving investor interest in the near term.

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TWNP
LOS ANGELES, July 29, 2025 (GLOBE NEWSWIRE) -- The United States Attorney for the Central District of California has filed a motion to dismiss all charges against Andrew “Andy” Wiederhorn, FAT Brands Inc. (NASDAQ: FAT), Rebecca Hershinger, and William Amon. Mr. Wiederhorn and his legal team have consistently maintained his innocence, and that the events described involved no criminal conduct, no victims, and no financial losses. “From day one, we have maintained Andy’s innocence,” said Nick Hanna, of Gibson Dunn, counsel for Mr. Wiederhorn and the former U.S. Attorney for the Central District of California. “We are extremely grateful that the U.S. Attorney’s Office listened to our arguments and determined, in the interests of justice, that all charges should be dropped.” “We have said from the beginning that this is a case with no victims, no losses, and no crimes,” added Douglas Fuchs of Gibson Dunn and counsel to Mr. Wiederhorn. “Today, the U.S. Attorney took the appropriate step of dismissing the indictment.” “I am grateful to the U.S. Attorney’s Office for taking a fresh look at this case and to the attorneys who worked tirelessly on my behalf and on behalf of the other defendants,” said Andy Wiederhorn. “With this indictment behind us, I look forward to focusing on the continued growth and success of FAT Brands.” FAT Brands Inc. is a global restaurant franchising company with a portfolio of 18 restaurant concepts and over 2,300 locations worldwide. With the DOJ matter closed, FAT Brands is poised to continue to build on recent growth, with over 1,000 units in its development pipeline, approximately 120 signed development agreements year-to-date, and more than 100 new store openings anticipated this year. The company’s franchising model, co-branding options, and well-established restaurant concepts – including Fatburger, Johnny Rockets, Round Table Pizza, and Twin Peaks, a subsidiary of Twin Hospitality Group Inc. (NASDAQ: TWNP) – position it as a leader in the global dining landscape. About FAT (Fresh. Authentic. Tasty.) BrandsFAT Brands (NASDAQ: FAT) is a leading global franchising company that strategically acquires, markets and develops fast casual, casual and polished casual dining restaurant concepts around the world. The Company currently owns 18 restaurant brands: Round Table Pizza®, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Great American Cookies, Smokey Bones, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Native Grill & Wings, Pretzelmaker, Elevation Burger, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises and owns over 2,300 units worldwide. For more information on FAT Brands, please visit http://www.fatbrands.com. Forward Looking StatementsThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the timing and performance of new store openings and FAT Brands’ pipeline of new store locations. These statements are subject to significant business, economic and competitive risks, uncertainties and contingencies, many of which are difficult to predict and beyond our control, which could cause our actual results to differ materially from the results expressed or implied in such forward-looking statements. We refer you to the documents filed by FAT Brands from time to time with the Securities and Exchange Commission, such as our reports on Form 10-K, Form 10-Q and Form 8-K, for a discussion of these and other risks and uncertainties that could cause our actual results to differ materially from our current expectations and from the forward-looking statements contained in this press release. We undertake no obligation to update any forward-looking statements to reflect events or circumstances occurring after the date of this press release. MEDIA CONTACT: Erin Mandzik, FAT Brandsemandzik@fatbrands.com 860-212-6509

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