SG Q2 2026 Earnings Report

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sweetgreen NEWS RELEASE Sweetgreen , Inc. Announces Second Quarter 2026 Financial Results 2026-08-06 LOS ANGELES -- ( BUSINESS WIRE ) -- Sweetgreen , Inc. ( NYSE : SG ) ( the " Company " ) , the mission - driven , next - generation restaurant and lifestyle brand that serves healthy food at scale , today announced financial results for its second fiscal quarter ended June 28 , 2026 . Second quarter 2026 financial highlights For the second quarter of fiscal year 2026 , compared to the second quarter of fiscal year 2025 : . Total revenue increased 3.8 % to $ 192.7 million . • Same - Store Sales Change of ( 6.2 % ) , versus ( 7.6 % ) . • • Total Digital Revenue Percentage of 66.3 % , up from 60.8 % and Owned Digital Revenue Percentage ( 1 ) of 38.8 % , up from 33.4 % . Loss from operations was $ ( 27.4 ) million and loss from operations margin was ( 14.2 ) % , versus $ ( 26.4 ) million and ( 14.2 ) % . • Restaurant - Level Profit ( 2 ) was $ 25.2 million and Restaurant - Level Profit Margin ( 2 ) was 13.1 % , versus $ 35.1 million and 18.9 % . • Net loss was $ ( 26.3 ) million and net loss margin was ( 13.6 ) % , versus net loss of $ ( 23.2 ) million and net loss margin of ( 12.5 ) % . Adjusted EBITDA ( 2 ) was $ ( 0.2 ) million and Adjusted EBITDA Margin ( 2 ) was ( 0.1 ) % , versus $ 6.4 million and 3.5 % . • 2 Net New Restaurant Openings , versus 9 . 1

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(1) Purchases made in-store where a customer uses scan-to-redeem or scan-to-earn, as part of the SG Rewards loyalty program introduced during thesecond quarter of scal year 2025, are included as part of our Owned Digital Channels sales.(2) Restaurant-Level Prot, Restaurant-Level Prot Margin, Adjusted EBITDA, and Adjusted EBITDA Margin are non-GAAP measures. Reconciliations tothe most directly comparable nancial measures presented in accordance with GAAP, are set forth in the schedules accompanying this release. “Our results are not where they need to be, but the progress we saw in the second quarter reinforces our condence that the plan is working,” said Jonathan Neman, Co-Founder and Chief Executive Ocer. “Guests are responding to wraps, restaurant execution is improving, and transactions strengthened throughout the quarter. We remain focused on delivering a consistently great guest experience, bringing more guests into Sweetgreen, and rebuilding restaurant-level protability.” Results for the second quarter ended June 28, 2026: Total revenue in the second quarter of scal year 2026 was $192.7 million, an increase of 3.8% versus the prior year period. This increase was primarily due to an increase of $18.4 million of incremental revenue associated with 36 Net New Restaurant Openings during or subsequent to the second quarter of scal year 2025. The increase in revenue was partially oset by a decrease in Comparable Restaurant Base revenue of $11.2 million, resulting in a negative Same-Store Sales Change of 6.2%, reecting a 2.0% decrease in trac and a 4.2% decrease in product mix. The decrease in mix was primarily driven by increased promotional activity, a shift in menu mix towards wraps, and the removal of ripple fries. Our loss from operations margin was (14.2)% for the second quarter of both scal year 2026 and 2025. Restaurant- Level Prot Margin was 13.1%, a decrease of roughly 600 basis points versus the prior year period, due to a negative Same-Store Sales Change of 6.2% driven by higher overall ingredient usage, investments in chicken and tofu portions, and increased promotional activity. These increases were partially oset by lower general and administrative expense and impairment of long-lived assets. General and administrative expense was $29.7 million, or 15.4% of revenue for the second quarter of scal year 2026, as compared to $34.5 million, or 18.6% of revenue in the prior year period. The decrease in general and administrative expense was primarily due to a $2.8 million decrease in stock-based compensation expense, primarily related to the decrease in expenses associated with restricted stock units and performance-based restricted stock units issued prior to our IPO, and a $1.2 million decrease in management salary and benets expense. Net loss for the second quarter of scal year 2026 was $(26.3) million, as compared to net loss of $(23.2) million in the prior year period. The increase in net loss was primarily due to a $9.9 million decrease in our Restaurant-Level Prot, partially oset by decreases in general and administrative expense, as described above, and impairment and closure costs. 2

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Adjusted EBITDA, which excludes stock-based compensation expense and certain other adjustments, was $(0.2) million for the second quarter of scal year 2026, as compared to $6.4 million in the prior year period. This change was primarily due to the $9.9 million decrease in Restaurant-Level Prot. Fiscal Year 2026 Outlook The Company's updated outlook reects reduced consumer demand for fresh prepared foods due to the multistate outbreak of cyclosporiasis since mid-July. The pace and timing of recovery remain uncertain. For scal year 2026, we now anticipate the following: Approximately 13 Net New Restaurant Openings, with about half featuring the Innite Kitchen Same-Store Sales Change between (8.0)% to (7.0)% Restaurant-Level Prot Margin of 10.5% to 11.0% Adjusted EBITDA between $(27.0) million to $(23.0) million We have not reconciled our expectations as to Restaurant-Level Prot Margin and Adjusted EBITDA to their most directly comparable GAAP measures as a result of uncertainty regarding, and the potential variability of, reconciling items. Accordingly, reconciliation is not available without unreasonable eort, although it is important to note that these factors could be material to our results computed in accordance with GAAP. Conference Call Sweetgreen will host a conference call to discuss its nancial results and nancial outlook today, August 6, 2026, at 2:00 p.m. Pacic Time. A live webcast of the call can be accessed from Sweetgreen’s Investor Relations website at investor.sweetgreen.com. An archived version of the webcast will be available from the same website after the call. Forward-Looking Statements This press release and the related conference call, webcast, and presentation contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may include, but are not limited to, statements regarding our scal year 2026 outlook; our business strategies, including the expected timing and benets of our Sweet Growth Transformation Plan; trends in our business and our ability to improve our nancial results in future periods; our plans for new menu items in 2026; our expectations regarding contributions that our modied customer loyalty program will make to our nancial results in future scal periods, including the impact of increased personalization on customer loyalty; our expectations regarding improvements in our restaurant operations and resulting impact on our key metrics and nancial results; our condence in the company’s long term growth opportunity; our expectations regarding the performance of certain menu items and 3

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oerings; our expectations regarding future menu prices; our expectations regarding the impact of, and our ability to recover from, ongoing food safety concerns on consumer demand and our sales trends; our expectations regarding initiatives to improve ingredient usage and food costs; our expectations regarding the impact of our eorts to improve operational eciency, including through the implementation of new stang models; and our plans regarding brand marketing initiatives. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantied. In some cases, you can identify forward-looking statements because they contain words or phrases such as “anticipate,” “are condent that,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “opportunity,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “toward,” “will,” or “would,” or the negative of these words or other similar terms or expressions. You should not put undue reliance on any forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. Forward-looking statements are based on information available at the time those statements are made and are based on current expectations, estimates, forecasts, and projections as well as the beliefs and assumptions of management as of that time with respect to future events. These statements are subject to risks and uncertainties, many of which involve factors or circumstances that are beyond our control, that could cause actual performance or results to dier materially from those expressed in or suggested by the forward-looking statements. In addition, new risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements. In light of these risks and uncertainties, the forward-looking events and circumstances discussed in this press release and the related conference call may not occur and actual results could dier materially from those described in the forward-looking statements. These risks and uncertainties include our ability to compete eectively, uncertainties regarding changes in economic conditions and geopolitical events, and the customer behavior trends they drive, our ability to open new restaurants, our ability to eectively identify and secure appropriate sites for new restaurants, our ability to expand into new markets and the risks such expansion presents, the impact of severe weather conditions or natural disasters on our restaurant sales and results of operations, the protability of new restaurants we may open, and the impact of any such openings on sales at our existing restaurants, our ability to deploy, and secure support for the proprietary kitchen automation technology, known as the Innite Kitchen, in a timely and cost-eective manner, our ability to preserve the value of our brand, food safety and foodborne illness concerns, the eect on our business of increases in labor costs, labor shortages, and diculties in hiring, training, rewarding and retaining a qualied workforce, the impact of pandemics or disease outbreaks, our ability to achieve protability in the future, our ability to identify, complete, and integrate acquisitions, the eect on our business of governmental regulations, including but not limited to any future regulations that impose taxes, taris, or duties on food products, supplies or other items that we purchase, changes in employment laws, the eect on our business of expenses and potential management distraction associated with litigation, potential privacy and cybersecurity incidents, the eect on our 4

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business of restrictions and costs imposed by privacy, data protection, and data security laws, regulations, and industry standards, and our ability to enforce our rights in our intellectual property. Additional information regarding these and other risks and uncertainties that could cause actual results to dier materially from the Company's expectations is included in our SEC reports, including our Annual Report on Form 10-K for the scal year ended December 28, 2025, as updated by subsequently led Quarterly Reports on Form 10-Q. Except as required by law, we do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise. Additional information regarding these and other factors that could aect the Company’s results is included in the Company’s SEC lings, which may be obtained by visiting the SEC's website at www.sec.gov. Information contained on, or that is referenced or can be accessed through, our website does not constitute part of this document and inclusions of any website addresses herein are inactive textual references only. Glossary Average Unit Volume (“AUV”)- AUV is dened as the average trailing revenue for the prior four scal quarters for all restaurants in the Comparable Restaurant Base. Comparable Restaurant Base- Comparable Restaurant Base for any measurement period is dened as all restaurants that have operated for at least twelve full months as of the end of such measurement period, other than any restaurants that had a material, temporary closure or permanently closed during the relevant measurement period. A restaurant is considered to have had a material, temporary closure if it had no operations for a consecutive period of at least 30 days. Net New Restaurant Openings - Net New Restaurant Openings reect the number of new Sweetgreen restaurant openings during a given reporting period, net of any permanent Sweetgreen restaurant closures during the same given period. Same-Store Sales Change- Same-Store Sales Change reects the percentage change in year-over-year revenue for the relevant scal period for all restaurants that have operated for at least 13 full scal months as of the end of such scal period, excluding any restaurant that has had a temporary or permanent closure during any prior or current scal month in the relevant measurement period. We dene a temporary closure as a closure of at least ve days during which the restaurant would have otherwise been open; for any such temporary closure occurring during a prior or current scal month, such scal month, as well as the corresponding scal month for the prior or current scal year, as applicable, will be excluded when calculating Same-Store Sales Change for that restaurant. Total Digital Revenue Percentage and Owned Digital Revenue Percentage- Our Total Digital Revenue Percentage is the percentage of our revenue attributed to purchases made through all channels except Non- 5

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Digital transactions made through our In-Store Channel. Our Owned Digital Revenue Percentage is the percentage of our revenue attributed to purchases made through our Owned Digital Channels. Non-GAAP Financial Measures In addition to our consolidated nancial statements, which are presented in accordance with GAAP, we present certain non-GAAP nancial measures, including Restaurant-Level Prot, Restaurant-Level Prot Margin, Adjusted EBITDA, and Adjusted EBITDA Margin. We believe these measures are useful to investors and others in evaluating our performance because these measures: facilitate operating performance comparisons from period to period by isolating the eects of some items that vary from period to period without any correlation to core operating performance or that vary widely among similar companies. These potential dierences may be caused by variations in capital structures (aecting interest expense), tax positions (such as the impact on periods or companies of changes in eective tax rates or NOL), and the age and book depreciation of facilities and equipment (aecting relative depreciation expense); are widely used by analysts, investors, and competitors to measure a company’s operating performance; are used by our management and board of directors for various purposes, including as measures of performance, and as a basis for strategic planning and forecasting; and are used internally for a number of benchmarks, including to compare our performance to that of our competitors. We dene Restaurant-Level Prot as loss from operations adjusted to exclude general and administrative expense, depreciation and amortization, pre-opening costs, loss on disposal of property and equipment, and, in certain periods, impairment and closure costs and restructuring charges. Restaurant-Level Prot Margin is Restaurant- Level Prot as a percentage of revenue. As it excludes general and administrative expense, which is primarily attributable to our corporate headquarters, which we refer to as our Sweetgreen Support Center, we evaluate Restaurant-Level Prot and Restaurant-Level Prot Margin as a measure of protability of our restaurants. We dene Adjusted EBITDA as net income (loss) adjusted to exclude income tax expense, interest income, interest expense, depreciation and amortization, stock-based compensation expense, loss on disposal of property and equipment, other (income) expense, our enterprise resource planning system (“ERP”) implementation and related costs, legal settlements, and, in certain periods, impairment and closure costs, restructuring charges, gain on disposal of business, and other non-recurring expenses. Adjusted EBITDA Margin is Adjusted EBITDA as a percentage of revenue. Restaurant-Level Prot, Restaurant-Level Prot Margin, Adjusted EBITDA, and Adjusted EBITDA Margin have 6

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limitations as analytical tools, and you should not consider them in isolation or as substitutes for analysis of our results as reported under GAAP. In particular, Restaurant-Level Prot and Adjusted EBITDA should not be viewed as substitutes for, or superior to, loss from operations or net income (loss) prepared in accordance with GAAP as a measure of protability. Some of these limitations are: although depreciation and amortization are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future, and Restaurant-Level Prot and Adjusted EBITDA do not reect all cash capital expenditure requirements for such replacements or for new capital expenditure requirements; Restaurant-Level Prot and Adjusted EBITDA do not reect changes in, or cash requirements for, our working capital needs; Restaurant-Level Prot and Adjusted EBITDA do not reect the impact of the recording or release of valuation allowances or tax payments that may represent a reduction in cash available to us; Restaurant-Level Prot and Adjusted EBITDA do not consider the potentially dilutive impact of stock-based compensation; Restaurant-Level Prot is not indicative of overall results of the Company and does not accrue directly to the benet of stockholders, as corporate-level expenses are excluded; Adjusted EBITDA does not take into account any income or costs that management determines are not indicative of ongoing operating performance, such as stock-based compensation; loss on disposal of property and equipment; other (income) expense; restructuring charges; ERP implementation and related costs; legal settlements; and other expenses as described in more detail in the table reconciling our net income (loss) to Adjusted EBITDA, below; and other companies, including those in our industry, may calculate Restaurant-Level Prot and Adjusted EBITDA dierently, which reduces their usefulness as comparative measures. Because of these limitations, you should consider Restaurant-Level Prot, Restaurant-Level Prot Margin, Adjusted EBITDA and Adjusted EBITDA Margin alongside other nancial performance measures, loss from operations, net income (loss), and our other GAAP results. About Sweetgreen Sweetgreen (NYSE: SG) is on a mission to build healthier communities by connecting people to real food. Sweetgreen sources the best quality ingredients from farmers and suppliers they trust to cook food from scratch that is both delicious and nourishing. They plant roots in each community by building a transparent supply chain, investing in local farmers and growers, and enhancing the total experience with innovative technology. Since opening its rst 560-square-foot location in 2007, Sweetgreen has scaled to over 285 locations across the United States, and their vision is to lead the next generation of restaurants and lifestyle brands built on quality, community and innovation. To learn more about Sweetgreen, its menu, and its loyalty program, visit www.Sweetgreen.com. 7

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Follow @Sweetgreen on Instagram, Facebook and X. SWEETGREEN, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share and per share amounts)(unaudited) June 28, 2026December 28, 2025ASSETS Current assets:Cash and cash equivalents $ 142,631$ 89,177Accounts receivable 5,710 5,166Inventory 2,873 2,384Prepaid expenses 11,357 6,381Current portion of lease acquisition costs 90 93Assets held for sale — 25,427 Other current assets 1,278 1,029 Total current assets 163,939 129,657 Operating lease assets 286,094 284,263Property and equipment, net 311,218 326,903Goodwill 27,793 27,793Intangible assets, net 9,922 10,424Security deposits 1,282 1,316Lease acquisition costs, net 197 241Restricted cash 6,158 4,166Equity investments 86,429 — Other assets 2,627 3,341 Total assets $ 895,659$ 788,104 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities:Current portion of operating lease liabilities$ 42,324$ 41,590Accounts payable 14,103 19,885Accrued expenses 38,920 33,739Accrued payroll 11,374 8,143Gift cards and loyalty liability 7,585 7,177Liabilities held for sale — 1,085 Other current liabilities 29 7,033 Total current liabilities 114,335 118,652 Operating lease liabilities, net of current portion313,071 312,904Other non-current liabilities — 149 Deferred income tax liabilities 632 274 Total liabilities $ 428,038$ 431,979 COMMITMENTS AND CONTINGENCIESStockholders’ equity:Common stock, $0.001 par value per share, 2,000,000,000 Class A shares authorized, 107,140,211 and106,554,859 Class A shares issued and outstanding as of June 28, 2026 and December 28, 2025,respectively; 300,000,000 Class B shares authorized, 11,893,558 and 11,893,558 Class B shares issuedand outstanding as of June 28, 2026 and December 28, 2025, respectively119 118Additional paid-in capital 1,377,3861,365,430 Accumulated decit (909,884) (1,009,423) Total stockholders’ equity 467,621 356,125 Total liabilities and stockholders’ equity$ 895,659$ 788,104 SWEETGREEN, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (in thousands, except share and per share amounts)(unaudited) Thirteen weeks ended June 28, 2026 June 29, 2025 Revenue $ 192,662100%$ 185,583100% R i ( l i fd i i d i i d 8

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Restaurant operating costs (exclusive of depreciation and amortization presentedseparately below):Food, beverage, and packaging 57,40729.8% 51,44427.7%Labor and related expenses 56,31329.2% 51,04427.5%Occupancy and related expenses 18,1179.4% 16,4388.9% Other restaurant operating costs 35,64818.5% 31,53217.0% Total restaurant operating costs 167,48586.9% 150,45881.1%Operating expenses:General and administrative 29,71315.4% 34,50518.6%Depreciation and amortization 18,7579.7% 17,9969.7%Pre-opening costs 1,1070.6% 2,5341.4%Impairment and closure costs 2,1551.1% 5,3362.9%Loss on disposal of property and equipment3390.2% 31 —% Restructuring charges 5160.3% 1,1460.6% Total operating expenses 52,58727.3% 61,54833.2% Loss from operations (27,410) (14.2)% (26,423) (14.2)%Interest income (1,216) (0.6)% (1,725) (0.9)%Interest expense 62 —% 5 —% Other expense (income) 2 —% (1,635) (0.9)% Net loss before income taxes (26,258) (13.6)% (23,068) (12.4)% Income tax expense 12 —% 90 —% Net loss $ (26,270) (13.6)%$ (23,158) (12.5)%Earnings (loss) per share:Net loss per share, basic and diluted$ (0.22) $ (0.20)Weighted average shares outstanding, basic and diluted118,898,524 117,827,054 SWEETGREEN, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (in thousands, except share and per share amounts)(unaudited) Twenty-six weeks ended June 28, 2026 June 29, 2025 Revenue $ 354,183100.0%$ 351,887100.0% Restaurant operating costs (exclusive of depreciation and amortization presentedseparately below):Food, beverage, and packaging 104,26029.4% 95,43627.1%Labor and related expenses 107,07430.2% 99,11528.2%Occupancy and related expenses 35,88410.1% 32,1129.1% Other restaurant operating costs 65,58718.5% 60,41217.2% Total restaurant operating costs 312,80588.3% 287,07581.6%Operating expenses:General and administrative 58,98016.7% 72,84220.7%Depreciation and amortization 37,38610.6% 35,10210.0%Pre-opening costs 2,2180.6% 4,2301.2%Impairment and closure costs 2,7910.8% 5,4301.5%Loss on disposal of property and equipment7380.2% 117—% Restructuring charges 1,0210.3% 2,0510.6% Total operating expenses 103,13429.1% 119,77234.0% Loss from operations (61,756) (17.4)% (54,960) (15.6)%Interest income (2,622) (0.7)% (3,628) (1.0)%Interest expense 90 —% 5 —%Gain on disposal of business (160,562) (45.3)% — —% Other expense (income) 9 —% (3,320) (0.9)% Net income (loss) before income taxes101,32928.6% (48,017) (13.6)% Income tax expense 1,7900.5% 1800.1% Net income (loss) $ 99,53928.1%$ (48,197) (13.7)%Earnings (loss) per share:Basic $ 0.84 $ (0.41)Diluted $ 0.82 $ (0.41)Weighted average shares outstanding:Basic 118,803,299 117,566,164Diluted 120,774,680 117,566,164 9

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SWEETGREEN, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands)(unaudited) Twenty-six weeks ended June 28, 2026 June 29, 2025 Cash ows from operating activities:Net income (loss) $ 99,539$ (48,197)Adjustments to reconcile net income (loss) to net cash used in operating activities:Depreciation and amortization 37,386 35,102Amortization of lease acquisition 47 46Amortization of cloud computing arrangements565 495Non-cash operating lease cost 18,711 17,064Loss on disposal of property and equipment738 117Stock-based compensation 10,982 18,221Non-cash impairment and closure costs 1,693 5,325Non-cash restructuring charges 455 443Deferred income tax expense 360 180Change in fair value of contingent consideration liability— (3,338)Gain on disposal of business (161,161) —Changes in operating assets and liabilities:Accounts receivable (544) (1,635)Inventory (489) (425)Prepaid expenses and other current assets(5,023) (249)Operating lease liabilities (19,914) (22,378)Accounts payable (4,308) (188)Accrued payroll and benets 3,231 (5,074)Accrued expenses and other current liabilities5,261 2,265Gift card and loyalty liability 408 1,859Contingent consideration liability (5,396) (2,290) Other non-current liabilities (146) (8) Net cash used in operating activities (17,605) (2,665)Cash ows from investing activities:Purchase of property and equipment (22,522) (40,333)Purchase of intangible assets (3,832) (4,300)Security and landlord deposits 34 100 Proceeds from disposal of business 100,000 — Net cash provided by (used in) investing activities73,680 (44,533)Cash ows from nancing activities:Proceeds from stock option exercise 59 2,679 Payment associated to shares repurchased for tax withholding(688) (259) Net cash (used in) provided by nancing activities(629) 2,420Net change in cash and cash equivalents and restricted cash55,446 (44,778) Cash and cash equivalents and restricted cash—beginning of year93,343 217,429 Cash and cash equivalents and restricted cash—end of period$ 148,789$ 172,651 Supplemental disclosure of cash ow information Cash paid for interest $ 90$ 5 Non-cash investing and nancing activities Purchase of property and equipment accrued in accounts payable and accrued expenses$ 8,649$ 11,049Series C Preferred Stock of Wonder Group, Inc. as partial consideration for the Spyce sale$ 86,429$ — SWEETGREEN, INC. AND SUBSIDIARIESSUPPLEMENTAL FINANCIAL AND OTHER DATA (dollars in thousands)(unaudited) Thirteen weeks endedTwenty-six weeks ended June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025 Net New Restaurant Openings2 9 6 14Average Unit Volume (as adjusted)(1) $ 2,516$ 2,831$ 2,516$ 2,831Same-Store Sales Change (%) (as adjusted)(2) (6.2)% (7.6)% (9.3)% (5.5)%Total Digital Revenue Percentage(3) 66.3% 60.8% 66.7% 60.3%Owned Digital Revenue Percentage(3) 38.8% 33.4% 38.9% 32.7% 10

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(1)Eight restaurants were excluded from the Comparable Restaurant Base for the thirteen and twenty-six weeks ended June 28, 2026. One restaurantwas excluded from the Comparable Restaurant Base for the thirteen and twenty-six weeks ended June 29, 2025. Such adjustments did not result ina material change to AUV.(2)Our results for the thirteen weeks ended June 28, 2026 have been adjusted to reect the closures of seven restaurants, including one temporaryclosure and six permanent closures, which were excluded from the calculation of Same-Store Sales Change. Our results for the twenty-six weeksended June 28, 2026 have been adjusted to reect the closures of 14 restaurants, including eight temporary closures and six permanent closures,which were excluded from the calculation of Same-Store Sales Change. Our results for the thirteen and twenty-six weeks ended June 29, 2025 havebeen adjusted to reect the temporary closures of one and eight restaurants, respectively, which were excluded from the calculation of Same-StoreSales Change. Such adjustments did not result in a material change to Same-Store Sales Change for either period.(3)Purchases made in-store where a customer uses scan-to-redeem or scan-to-earn, as part of the SG Rewards loyalty program introduced during thesecond quarter of scal year 2025, are included as part of our Owned Digital Channels sales. SWEETGREEN, INC. AND SUBSIDIARIESReconciliation of GAAP to Non-GAAP Measures (dollars in thousands)(unaudited)The following table sets forth a reconciliation of our loss from operations to Restaurant-Level Prot, as well as the calculation of loss from operationsmargin and Restaurant-Level Prot Margin for each of the periods indicated: Thirteen weeks endedTwenty-six weeks ended June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025 Loss from operations$ (27,410) $ (26,423) $ (61,756) $ (54,960)Add back:General and administrative29,713 34,505 58,980 72,842Depreciation and amortization18,757 17,996 37,386 35,102Pre-opening costs 1,107 2,534 2,218 4,230Impairment and closure costs2,155 5,336 2,791 5,430Loss on disposal of property and equipment(1) 339 31 738 117 Restructuring charges(2) 516 1,146 1,021 2,051 Restaurant-Level Prot$ 25,177$ 35,125$ 41,378$ 64,812Loss from operations margin(14.2)% (14.2)% (17.4)% (15.6)%Restaurant-Level Prot Margin13.1% 18.9% 11.7% 18.4% (1)Loss on disposal of property and equipment includes the loss on disposal of assets related to retirements and replacement or write-o of leaseholdimprovements or equipment.(2)Restructuring charges are expenses that are paid in connection with reorganization of our operations. These costs primarily include lease andrelated costs associated with our vacated former Sweetgreen Support Center, including the impairment and the amortization of the operating leaseasset and costs related to our vacated former New York oce. SWEETGREEN, INC. AND SUBSIDIARIESReconciliation of GAAP to Non-GAAP Measures (dollars in thousands)(unaudited)The following table sets forth a reconciliation of our net income (loss) to Adjusted EBITDA, as well as the calculation of net income (loss) margin andAdjusted EBITDA Margin for each of the periods indicated: Thirteen weeks endedTwenty-six weeks ended June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025 Net income (loss) $ (26,270) $ (23,158) $ 99,539$ (48,197)Non-GAAP adjustments:Income tax expense 12 90 1,790 180Interest income (1,216) (1,725) (2,622) (3,628)Interest expense 62 5 90 5Depreciation and amortization18,757 17,996 37,386 35,102Stock-based compensation(1) 5,178 8,000 10,982 18,221Loss on disposal of property and equipment(2) 339 31 738 117Impairment and closure costs(3) 2,155 5,336 2,791 5,430Other expense (income)(4) 2 (1,635) 9 (3,320)Restructuring charges(5) 516 1,146 1,021 2,051ERP implementation and related costs(6) 290 254 565 495L l l (7) 75 12 243 11

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Legal settlements(7) — 75 12 243 Gain on disposal of business(8) — — (160,562) — Adjusted EBITDA $ (175) $ 6,415$ (8,261) $ 6,699Net income (loss) margin (13.6)% (12.5)% 28.1% (13.7)%Adjusted EBITDA Margin (0.1)% 3.5% (2.3)% 1.9% (1)Includes non-cash, stock-based compensation.(2)Loss on disposal of property and equipment includes the loss on disposal of assets related to retirements and replacement or write-o of leaseholdimprovements or equipment.(3)Includes costs related to impairment of long-lived and operating lease assets and store closures.(4)Other expense (income) includes the change in fair value of the contingent consideration issued as part of the Spyce acquisition.(5)Restructuring charges are expenses that are paid in connection with the reorganization of our operations. These costs primarily include lease andrelated non-cash expenses associated with our vacated former Sweetgreen Support Center, including the impairment and the amortization of theoperating lease asset, severance and related benets associated with a reduction in force at our Sweetgreen Support Center, and costs related toour vacated former New York oce.(6)Represents the amortization costs associated with the implementation of our cloud computing arrangements in relation to our ERP.(7)Expenses recorded for accruals related to the settlements of legal matters.(8)Gain recognized on the disposal of the Spyce business from the transaction completed during the twenty-six weeks ended June 28, 2026. Sweetgreen Contact, Anthony Wiginton Investor Relations ir@sweetgreen.com Media press@sweetgreen.com Source: Sweetgreen, Inc. 12

Earnings release