Red Robin Gourmet Burgers (RRGB) Provides Business Update

Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB) ("Red Robin" or the "Company"), a full-service restaurant chain serving an innovative selection of high-quality gourmet burgers in a family-friendly atmosphere, today provided a business update.

Paul J.B. Murphy III, Red Robin's President and Chief Executive Officer, said, "We are encouraged by our improving comparable sales trend over the past several weeks as we continue to expand our seating capacity primarily through outdoor dining. Looking ahead, we expect to build further momentum from the implementation and related seating expansion of all-weather tents and booth partitions by early in the fourth quarter along with indoor dining rooms beginning to re-open in California. Off-premise sales also remain strong as Guests continue to seek out our craveable, high-quality food through the convenience of carryout and third-party delivery. As we navigate through the pandemic, our Team Members are doing an incredible job prioritizing health and safety protocols while delivering consistent, quality execution of our brand promise with continued, record guest satisfaction scores."

Preliminary net comparable restaurant revenues and average net sales per restaurant through the week ended September 6, 2020 are as follows:

Company-owned Restaurants with Open Indoor Dining Rooms

As of September 6, 2020, the Company is operating approximately 349 indoor dining rooms with limited capacity, representing 85% of 412 currently open Company-operated restaurants.

Preliminary net comparable restaurant revenues and average net sales per restaurant through the week ended September 6, 2020 are as follows:

Balance Sheet and Liquidity

As of September 6, 2020, the Company had liquidity of approximately $104 million comprising cash and cash equivalents and available capacity under its credit facility.

Virtual Conference Participation

The Company will be holding investor meetings and participating in a virtual fireside chat discussion at the J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum. Red Robin's fireside chat discussion will be held on Monday, September 14, 2020, at 12:20 PM Eastern Time.

Investors and interested parties may listen to a webcast of this fireside chat discussion by visiting the Company's website at www.redrobin.com under the investor relations section.

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