1. KFC, but focused on flame-grilled chicken with a Mexican-inspired menu.

2. Chipotle, but centered around flame-grilled chicken platters and meals.

3. A healthier, quick-service alternative to KFC, specializing in citrus-marinated grilled chicken.

• Flame-Grilled Chicken: Their signature product, citrus-marinated and grilled over an open flame.
• Burritos: Large flour tortillas filled with their flame-grilled chicken or other proteins, rice, beans, and fresh ingredients.
• Bowls: Customizable meals featuring a base of rice or greens, topped with their chicken or other proteins, and various fresh toppings.
• Tacos: Soft tortillas filled with flame-grilled chicken or other proteins, fresh toppings, and salsa.
• Quesadillas: Grilled flour tortillas filled with melted cheese, often with added chicken.
• Salads: Fresh greens topped with flame-grilled chicken and various fresh ingredients and dressings.
• Sides & Salsas: A variety of traditional Mexican-inspired sides like rice, beans, and coleslaw, along with fresh house-made salsas.

El Pollo Loco (LOCO) is a restaurant chain that primarily sells directly to individual consumers.

Here are up to three categories of customers that El Pollo Loco serves:

1. Families and Groups: Many customers are families or groups seeking a convenient and flavorful meal option. El Pollo Loco often offers family meal bundles that cater to multiple people, making it a popular choice for dinner or casual gatherings.
2. Health-Conscious Consumers: El Pollo Loco's flame-grilled chicken is often perceived as a healthier alternative to traditional fried fast food. Customers looking for lighter, fresh, and less processed options are drawn to their menu, which includes salads and various grilled chicken dishes.
3. Convenience and Value Seekers: Customers looking for a quick, affordable, and satisfying meal for lunch or dinner are a significant segment. This includes busy professionals, students, and general consumers seeking a tasty and readily available option without the wait or cost of a full-service restaurant.

Elizabeth "Liz" Williams, Chief Executive Officer

Liz Williams has served as Chief Executive Officer of El Pollo Loco since March 2024. Prior to this role, Ms. Williams was CEO of Outfox Hospitality, the parent company of Foxtrot and Dom's Kitchen and Market. She also led Hart House, LLC, and was CEO of Drybar Holdings. Previously, Ms. Williams spent over ten years at Yum! Brands, Inc. and Taco Bell (2010-2020), where she held various leadership positions, including President of Taco Bell International and Global Chief Financial Officer of Taco Bell. During her tenure, she was part of the leadership team that drove a significant brand turnaround from 2011-2020. Before joining Yum!, Ms. Williams spent six years at Boston Consulting Group in the Consumer and Retail practice, and began her career at Dell Technologies. She currently serves on the board of Stitch Fix.

Ira Fils, Chief Financial Officer

Ira Fils has served as Chief Financial Officer of El Pollo Loco since June 2022. He has an extensive background in the restaurant industry. Prior to joining El Pollo Loco, Mr. Fils was the Chief Financial Officer and Secretary of The Habit Restaurants, LLC (The Habit Burger Grill) from August 2008 to June 2022. During his time at Habit, he helped lead the company's successful IPO in 2014 and was actively involved in its sale to Yum! Brands in 2020. He was a key member of the executive team that grew Habit restaurants from 20 to over 300 locations. Before Habit, Mr. Fils served as Chief Financial Officer of Mimi's Café from 2005 to 2008, and held various financial roles, including Chief Financial Officer, at Rubio's Restaurants, Inc. from 1998 to 2003. He began his career at Family Restaurants and American Restaurant Group.

Maria Hollandsworth, President and Chief Operating Officer

Maria Hollandsworth was appointed Chief Operating Officer on October 31, 2022, and has served as President and Chief Operating Officer since March 2024. She also served as the company's interim Chief Executive Officer from November 2023 to March 2024. Before joining El Pollo Loco, Ms. Hollandsworth was the Regional Vice President of Operations for Dunkin', a division of Inspire Brands, Inc.

Jill Adams, Chief Marketing Officer

Jill Adams serves as the Chief Marketing Officer for El Pollo Loco. Prior to her current role, Ms. Adams worked at Jack in the Box, Inc., where she held various leadership positions in areas such as field marketing, product marketing, menu strategy, integrated marketing, and innovation and growth.

Tim Welsh, Chief Development Officer

Tim Welsh has served as El Pollo Loco's Chief Development Officer since June 2024. Before joining El Pollo Loco, Mr. Welsh was the Senior Vice President of Design and Construction for TriMark's South and West US Regions.

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El Pollo Loco's main products and services consist primarily of Mexican-style grilled chicken and related Mexican food items such as tacos, burritos, tostada salads, chicken bowls, quesadillas, and catering services.

The addressable market sizes for El Pollo Loco's main products and services in the U.S. are as follows:

• U.S. Quick Service Restaurant (QSR) Market: The market size for the Quick Service Restaurant (QSR) industry in the United States is estimated at approximately $447.2 billion in 2025. This market is projected to reach $731.6 billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 10.35% during the forecast period (2025-2030).
• U.S. Fast Food Chicken Restaurants Market: The market size for the Fast Food Chicken Restaurants industry in the United States is projected to be $63.7 billion in 2025. This segment has shown a growth rate (CAGR) of 5.6% between 2020 and 2025.

1. Menu Innovation: El Pollo Loco is focusing on a robust pipeline of new menu items and flavor innovations to attract and retain customers. Recent and upcoming launches include Mango Habanero chicken, fresco wraps, salads, and new quesadilla combos, with additional options being tested for 2026. This strategy aims to drive trial from both new and existing customers by offering diverse and craveable products. The company believes that flavor innovation is a significant opportunity in the chicken category to excite consumers and drive engagement.
2. New Unit Growth and Geographic Expansion: The company plans to accelerate its restaurant footprint, particularly outside of its core California market. El Pollo Loco expects to open at least 10-11 new system-wide restaurants in 2025, with a significant majority outside California, and aims to nearly double its development pace in 2026. This expansion includes targeting new markets such as Arizona, Colorado, Idaho, New Mexico, Texas, and Washington, with a focus on a new, more affordable restaurant prototype to reduce build costs and drive long-term growth.
3. Digital Engagement and Operational Enhancements: El Pollo Loco is investing in a "digital-first approach" to enhance customer interaction and drive sales. This includes leveraging its Loco Rewards app for exclusive offers, improving online ordering, and rolling out kiosks in company-owned and franchised restaurants to streamline ordering and improve efficiency. Additionally, operational improvements, such as the rollout of holding cabinets for chicken and new salsa preparation equipment, are expected to enhance food quality and labor efficiency, contributing to an improved customer experience.
4. Menu Price Increases: Management expects to implement menu pricing increases. For 2025, menu pricing is anticipated to average 3%, moderating to 2% in the second half of the year. In Q3 2024, the effective price increase was 8.4% year-over-year, and Q3 2025 saw an effective price increase of 2.8%. These price adjustments are intended to contribute to revenue growth and offset cost pressures.
5. Restaurant Remodels and Brand Relaunch: The company is undertaking extensive remodeling efforts to modernize existing restaurants and enhance the customer experience. Plans include remodeling 60-70 restaurants in 2025, with a goal to reach approximately half of its system over the next four years in partnership with franchisees. These remodels, alongside a brand relaunch campaign such as "Let's get Loco," are designed to emphasize El Pollo Loco's heritage and differentiate it in the QSR landscape, thereby attracting more customers and improving comparable store sales.

Share Repurchases

• In 2023, El Pollo Loco repurchased approximately $59 million in common stock, including a $12.6 million repurchase agreement completed on December 4, 2023.
• During the first quarter of 2025, the company repurchased approximately $1.8 million in common stock.
• The share repurchase program was terminated on March 31, 2025, with less than $0.1 million remaining available.

Share Issuance

• In the first quarter of 2025, El Pollo Loco recorded $0.426 million in proceeds from the issuance of common stock upon the exercise of stock options, net of expenses.
• The number of common shares outstanding decreased from approximately 36.7 million as of March 3, 2023, to around 30.05 million as of April 2025, indicating that share repurchases generally outpaced issuances during this period.

Inbound Investments

• In June 2025, private equity firm CapitalSpring acquired a 5.2% stake in El Pollo Loco, representing a $14.7 million investment, with intentions to discuss potential transactions to maximize shareholder value.
• Biglari Capital Corp., holding approximately 15% of El Pollo Loco, made an unsolicited non-binding offer in April 2025 to acquire the remaining outstanding shares.

Capital Expenditures

• For the full year 2025, El Pollo Loco projects capital expenditures to be between $28 million and $34 million.
• These capital expenditures are primarily focused on supporting the opening of at least 10 new system-wide restaurants and funding technology upgrades.
• The company plans to remodel 60 to 70 restaurants in 2025 as part of a broader four-year strategy to update approximately half of its system.