Earnings release
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Exhibit 99.1 Shake Shack Announces Third Quarter 2026 Financial Results ▪ Total revenue of $423.3 million, up 15.2% versus 2025, including $408.0 million of Shack sales and $15.3 million of Licensing revenue. ▪ System-wide sales of $644.8 million, up 12.8% versus 2025. ▪ Same-Shack sales up 2.5% versus 2025. ▪ Operating income of $21.5 million versus $18.5 million in 2025. • Restaurant-level profit of $91.7 million, or 22.5% of Shack sales. ▪ Net income of $17.8 million versus $13.7 million in 2025. • Adjusted EBITDA of $62.8 million, up 16.0% versus 2025. ▪ Net income attributable to Shake Shack Inc. of $16.5 million, or earnings of $0.39 per diluted share. • Adjusted pro forma net income of $17.8 million, or earnings of $0.40 per fully exchanged and diluted share. ▪ Opened 21 new Company-operated Shacks and 16 new licensed Shacks. NEW YORK, NY (Business Wire) — November 5, 2026 — Shake Shack Inc. (“Shake Shack” or the “Company”) (NYSE: SHAK) has posted its results for the third quarter of 2026 in a Shareholder Letter in the Quarterly Results section of the Company's Investor Relations website, which can be found here: Q3 2026 Shake Shack Shareholder Letter. Shake Shack will host a conference call at 8:00 a.m. ET. Hosting the call will be Robert Lynch, Chief Executive Officer, and Michelle Hook, Chief Financial Officer. The conference call can be accessed live over the phone by dialing (877) 407-0792, or for international callers by dialing (201) 689-8263. A replay of the call will be available until November 12, 2026 by dialing (844) 512-2921 or for international callers by dialing (412) 317-6671; the passcode is 13762370. The live audio webcast of the conference call will be accessible in the Events & Presentations section on the Company's Investor Relations website at investor.shakeshack.com. An archived replay of the webcast will also be available shortly after the live event has concluded. (1) Restaurant-level profit, Adjusted EBITDA and Adjusted pro forma net income are non-GAAP measures. A reconciliation to the most directlycomparable financial measures presented in accordance with GAAP is set forth in the schedules accompanying this release. See “Non-GAAP Financial Measures” below. (1) (1) (1)
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Exhibit 99.1 About Shake Shack Shake Shack serves elevated versions of American classics using only the best ingredients. It's known for its delicious made- to-order Angus beef burgers, crinkle cut fries, crispy chicken, hand spun milkshakes, house-made lemonades, and more. With its high-quality food at a great value, warm hospitality, and a commitment to crafting uplifting experiences, Shake Shack quickly became a cult-brand with widespread appeal. Shake Shack's purpose is to Stand For Something Good®, from its premium ingredients and team member development to its inspiring designs and deep community investment. Since the original Shack opened in 2004 in NYC's Madison Square Park, the Company has expanded to over 750 locations system- wide, including over 480 in 36 U.S. States and the District of Columbia, and nearly 270 international locations across London, Hong Kong, Shanghai, Singapore, Mexico City, Istanbul, Dubai, Tokyo, Seoul and more. Skip the line with the Shack App, a mobile ordering app that lets you save time by ordering ahead! Guests can select their location, pick their food, choose a pickup time and their meal will be cooked-to-order and timed to arrival. Available on iOS and Android. Media: Corey Gee, Shake Shack cblumenthal@shakeshack.com Investor Relations: Alison Sternberg, Shake Shack Head of Investor Relations (844) SHACK-04 (844-742-2504) investor@shakeshack.com Definitions The following definitions apply to these terms as used in this release: "Shack sales" is defined as the aggregate sales of food, beverages, gift card breakage income and Shake Shack brandedmerchandise at Company-operated Shacks and excludes sales from licensed Shacks. “System-wide sales” is an operating measure and consists of sales from Company-operated Shacks and licensed Shacks.The Company does not recognize the sales from licensed Shacks as revenue. Of these amounts, revenue is limited tolicensing revenue based on a percentage of sales from licensed Shacks, as well as certain up-front fees, such as territoryfees, opening fees, and termination fees. "Same-Shack sales" represents Shack sales for the comparable Shack base, which is defined as the number of Company-operated Shacks open for 24 full fiscal months or longer. For consecutive days that Shacks were temporarily closed, thecomparative period was also adjusted. "Restaurant-level profit," a non-GAAP measure, is defined as Shack sales less Shack-level operating expenses includingFood and paper costs, Labor and related expenses, Other operating expenses and Occupancy and related expenses. "Restaurant-level profit margin," a non-GAAP measure, is defined as Shack sales less Shack-level operating expensesincluding Food and paper costs, Labor and related expenses, Other operating expenses and Occupancy and relatedexpenses as a percentage of Shack sales. “EBITDA,” a non-GAAP measure, is defined as Net income before interest expense (net of interest income), Income taxexpense, and Depreciation and amortization expense. “Adjusted EBITDA,” a non-GAAP measure, is defined as EBITDA (as defined above), excluding equity-based compensationexpense, Impairments, loss on disposal of assets, and Shack closures, amortization of cloud-based software implementationcosts, as well as certain non-recurring items that the Company does not believe directly reflect its core operations and maynot be indicative of the Company's recurring business operations. "Adjusted pro forma net income," a non-GAAP measure, represents Net income attributable to Shake Shack Inc. assumingthe full exchange of all outstanding SSE Holdings, LLC membership interests ("LLC Interests") for shares of Class A commonstock, adjusted for certain non-recurring items that the Company does not believe are directly related to its core operationsand may not be indicative of its recurring business operations.
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Exhibit 99.1 SHAKE SHACK INC.CONDENSED CONSOLIDATED BALANCE SHEETS(UNAUDITED) (in thousands, except share and per share amounts) September 302026 December 312025 ASSETS Current assets: Cash and cash equivalents $ 319,004 $ 360,123 Accounts receivable, net 30,563 32,962 Inventories 7,562 7,182 Prepaid expenses and other current assets 40,242 30,080 Total current assets 397,371 430,347 Property and equipment, net of accumulated depreciation of $630,566 and $551,004, respectively. 695,791 625,851 Operating lease assets 568,563 507,253 Deferred income taxes, net 315,438 322,385 Other assets 8,132 10,373 TOTAL ASSETS $ 1,985,295 $ 1,896,209 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 25,085 $ 24,747 Accrued expenses 82,599 103,354 Accrued wages and related liabilities 24,375 25,481 Operating lease liabilities, current 69,850 63,553 Other current liabilities 29,043 27,783 Total current liabilities 230,952 244,918 Long-term debt 248,517 247,731 Long-term operating lease liabilities 639,888 575,138 Liabilities under tax receivable agreement, net of current portion 244,030 244,463 Other long-term liabilities 27,095 30,210 Total liabilities 1,390,482 1,342,460 Commitments and contingencies Stockholders' equity: Preferred stock, no par value—10,000,000 shares authorized; none issued and outstanding as ofSeptember 30, 2026 and December 31, 2025. — — Class A common stock, $0.001 par value—200,000,000 shares authorized; 40,415,423 and40,254,281 shares issued and outstanding as of September 30, 2026 and December 31, 2025,respectively. 40 40 Class B common stock, $0.001 par value—35,000,000 shares authorized; 2,385,789 and2,434,789 shares issued and outstanding as of September 30, 2026 and December 31, 2025,respectively. 2 2 Additional paid-in capital 459,366 452,577 Retained earnings 104,585 72,709 Accumulated other comprehensive loss (6) (1) Total stockholders' equity attributable to Shake Shack Inc. 563,987 525,327 Non-controlling interests 30,826 28,422 Total equity 594,813 553,749 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 1,985,295 $ 1,896,209
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Exhibit 99.1 SHAKE SHACK INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME(UNAUDITED) (in thousands, except per share amounts) Thirteen Weeks Ended Thirty-Nine Weeks Ended September 302026 September 242025 September 302026 September 242025 Shack sales $ 408,026 96.4 % $ 352,846 96.0 % $1,165,510 96.5 % $1,005,908 96.3 % Licensing revenue 15,247 3.6 % 14,565 4.0 % 42,118 3.5 % 38,867 3.7 % TOTAL REVENUE 423,273 100.0 % 367,411 100.0 % 1,207,628 100.0 % 1,044,775 100.0 % Shack-level operating expenses: Food and paper costs 115,276 28.3 % 103,461 29.3 % 331,575 28.4 % 286,119 28.4 % Labor and related expenses 103,823 25.4 % 88,033 24.9 % 297,766 25.5 % 262,759 26.1 % Other operating expenses 65,828 16.1 % 53,779 15.2 % 186,458 16.0 % 152,809 15.2 % Occupancy and related expenses 31,366 7.7 % 26,995 7.7 % 90,171 7.7 % 77,219 7.7 % General and administrative expenses 44,989 10.6 % 44,381 12.1 % 146,918 12.2 % 125,692 12.0 % Depreciation and amortization expense32,930 7.8 % 27,079 7.4 % 92,767 7.7 % 80,167 7.7 % Pre-opening costs 6,978 1.6 % 4,625 1.3 % 20,486 1.7 % 12,798 1.2 % Impairments, loss on disposal of assets, andShack closures 601 0.1 % 510 0.1 % 1,893 0.2 % 3,448 0.3 % TOTAL EXPENSES 401,791 94.9 % 348,863 95.0 % 1,168,034 96.7 % 1,001,011 95.8 % INCOME FROM OPERATIONS 21,482 5.1 % 18,548 5.0 % 39,594 3.3 % 43,764 4.2 % Other income, net 2,459 0.6 % 3,103 0.8 % 7,804 0.6 % 8,924 0.9 % Interest expense (567) (0.1)% (504) (0.1)% (1,668) (0.1)% (1,615) (0.2)% INCOME BEFORE INCOME TAXES 23,374 5.5 % 21,147 5.8 % 45,730 3.8 % 51,073 4.9 % Income tax expense 5,607 1.3 % 7,436 2.0 % 11,375 0.9 % 14,366 1.4 % NET INCOME 17,767 4.2 % 13,711 3.7 % 34,355 2.8 % 36,707 3.5 % Less: Net income attributable to non-controlling interests 1,281 0.3 % 1,210 0.3 % 2,479 0.2 % 2,813 0.3 % NET INCOME ATTRIBUTABLE TO SHAKESHACK INC. $ 16,486 3.9 % $ 12,501 3.4 % $ 31,876 2.6 % $ 33,894 3.2 % Earnings per share of Class A common stock: Basic $ 0.41 $ 0.31 $ 0.79 $ 0.84 Diluted $ 0.39 $ 0.30 $ 0.76 $ 0.81 Weighted-average shares of Class A commonstock outstanding: Basic 40,399 40,250 40,349 40,199 Diluted 41,910 41,874 41,885 41,852 (1) As a percentage of Shack sales. (1)
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Exhibit 99.1 SHAKE SHACK INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(UNAUDITED) (in thousands) Thirty-Nine Weeks Ended September 302026 September 242025 OPERATING ACTIVITIES Net income (including amounts attributable to non-controlling interests) $ 34,355 $ 36,707 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization expense 92,767 80,167 Amortization of debt issuance costs 786 786 Amortization of cloud computing assets 1,334 1,676 Non-cash operating lease cost 77,313 64,489 Equity-based compensation 14,077 14,173 Deferred income taxes 7,474 9,238 Non-cash interest 41 31 Impairments, loss on disposal of assets, and Shack closures 1,893 3,448 Changes in operating assets and liabilities: Accounts receivable 2,399 (925) Inventories (380) (297) Prepaid expenses and other current assets (6,980) (4,134) Other assets (2,644) (4,634) Accounts payable 973 (610) Accrued expenses (19,056) 22,078 Accrued wages and related liabilities (1,106) 524 Other current liabilities (788) (1,377) Operating lease liabilities (67,379) (65,713) Other long-term liabilities 953 3,592 NET CASH PROVIDED BY OPERATING ACTIVITIES 136,032 159,219 INVESTING ACTIVITIES Purchases of property and equipment (162,405) (106,697) NET CASH USED IN INVESTING ACTIVITIES (162,405) (106,697) FINANCING ACTIVITIES Payments on principal of finance leases (4,999) (4,013) Deferred financing costs — (10) Distributions paid to non-controlling interest holders (2,931) (1,758) Payments under tax receivable agreement, including interest (977) (37) Net proceeds from stock option exercises 69 123 Employee withholding taxes related to net settled equity awards (5,903) (9,784) NET CASH USED IN FINANCING ACTIVITIES (14,741) (15,479) Effect of exchange rate changes on cash and cash equivalents (5) — INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (41,119) 37,043 CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 360,123 320,714 CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 319,004 $ 357,757
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Exhibit 99.1 SHAKE SHACK INC. NON-GAAP FINANCIAL MEASURES(UNAUDITED) To supplement the condensed consolidated financial statements, which are prepared and presented in accordance with U.S. generally accepted accounting principles (“GAAP”), the Company uses the following non-GAAP financial measures: Restaurant-level profit, Restaurant-level profit margin, EBITDA, adjusted EBITDA, adjusted EBITDA margin, adjusted pro forma net income and adjusted pro forma earnings per fully exchanged and diluted share (collectively the "non-GAAP financial measures"). Restaurant-Level Profit Restaurant-level profit is defined as Shack sales less Shack-level operating expenses including Food and paper costs, Labor and related expenses, Other operating expenses and Occupancy and related expenses. How This Measure Is Useful When used in conjunction with GAAP financial measures, Restaurant-level profit and Restaurant-level profit margin are supplemental measures of operating performance that the Company believes are useful measures to evaluate the performance and profitability of its Shacks. Additionally, Restaurant-level profit and Restaurant-level profit margin are key metrics used internally by management to develop internal budgets and forecasts, as well as assess the performance of its Shacks relative to budget and against prior periods. It is also used to evaluate employee compensation as it serves as a metric in certain performance-based employee bonus arrangements. The Company believes presentation of Restaurant-level profit and Restaurant-level profit margin provides investors with a supplemental view of its operating performance that can provide meaningful insights to the underlying operating performance of the Shacks, as these measures depict the operating results that are directly impacted by the Shacks and exclude items that may not be indicative of, or are unrelated to, the ongoing operations of the Shacks. It may also assist investors to evaluate the Company's performance relative to peers of various sizes and maturities and provides greater transparency with respect to how management evaluates the business, as well as the financial and operational decision-making. Limitations of the Usefulness of this Measure Restaurant-level profit and Restaurant-level profit margin may differ from similarly titled measures used by other companies due to different methods of calculation. Presentation of Restaurant-level profit and Restaurant-level profit margin is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. Restaurant-level profit excludes certain costs, such as General and administrative expenses and Pre- opening costs, which are considered normal, recurring cash operating expenses and are essential to support the operation and development of the Company's Shacks. Therefore, this measure may not provide a complete understanding of the Company's operating results as a whole and Restaurant-level profit and Restaurant-level profit margin should be reviewed in conjunction with the Company's GAAP financial results.
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Exhibit 99.1 A reconciliation of Restaurant-level profit to Income from operations, the most directly comparable GAAP financial measure, is set forth below. Thirteen Weeks Ended Thirty-Nine Weeks Ended (dollar amounts in thousands) September 302026 September 242025 September 302026 September 242025 Income from operations $ 21,482 $ 18,548 $ 39,594 $ 43,764 Less: Licensing revenue 15,247 14,565 42,118 38,867 Add: General and administrative expenses 44,989 44,381 146,918 125,692 Depreciation and amortization expense 32,930 27,079 92,767 80,167 Pre-opening costs 6,978 4,625 20,486 12,798 Impairments, loss on disposal of assets, and Shack closures601 510 1,893 3,448 Restaurant-level profit $ 91,733 $ 80,578 $ 259,540 $ 227,002 Total revenue $ 423,273 $ 367,411 $ 1,207,628 $ 1,044,775 Less: Licensing revenue 15,247 14,565 42,118 38,867 Shack sales $ 408,026 $ 352,846 $ 1,165,510 $ 1,005,908 Restaurant-level profit margin 22.5 % 22.8 % 22.3 % 22.6 % (1) As a percentage of Shack sales. (1)
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Exhibit 99.1 SHAKE SHACK INC. NON-GAAP FINANCIAL MEASURES(UNAUDITED) EBITDA and Adjusted EBITDA EBITDA, a non-GAAP measure, is defined as Net income before interest expense (net of interest income), Income tax expense and Depreciation and amortization expense. Adjusted EBITDA, a non-GAAP measure, is defined as EBITDA excluding equity-based compensation expense, Impairments, loss on the disposal of assets, and Shack closures, amortization of cloud-based software implementation costs, as well as certain non-recurring items that the Company does not believe directly reflect its core operations and may not be indicative of the Company's recurring business operations. How These Measures Are Useful When used in conjunction with GAAP financial measures, EBITDA and adjusted EBITDA are supplemental measures of operating performance that the Company believes are useful measures to facilitate comparisons to historical performance and competitors' operating results. Adjusted EBITDA is a key metric used internally by management to develop internal budgets and forecasts and also serves as a metric in its performance-based equity incentive programs and certain bonus arrangements. The Company believes presentation of EBITDA and adjusted EBITDA provides investors with a supplemental view of the Company's operating performance that facilitates analysis and comparisons of its ongoing business operations because they exclude items that may not be indicative of the Company's ongoing operating performance. Limitations of the Usefulness of These Measures EBITDA and adjusted EBITDA may differ from similarly titled measures used by other companies due to different methods of calculation. Presentation of EBITDA and adjusted EBITDA is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. EBITDA and adjusted EBITDA exclude certain normal recurring expenses. Therefore, these measures may not provide a complete understanding of the Company's performance and should be reviewed in conjunction with the GAAP financial measures.
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Exhibit 99.1 A reconciliation of EBITDA and adjusted EBITDA to Net income, the most directly comparable GAAP measure, is set forth below. Thirteen Weeks Ended Thirty-Nine Weeks Ended (dollar amounts in thousands) September 302026 September 242025 September 302026 September 242025 Net income $ 17,767 $ 13,711 $ 34,355 $ 36,707 Depreciation and amortization expense 32,930 27,079 92,767 80,167 Interest expense, net 525 472 1,509 1,495 Income tax expense 5,607 7,436 11,375 14,366 EBITDA $ 56,829 $ 48,698 $ 140,006 $ 132,735 Equity-based compensation 4,995 4,423 14,077 14,173 Amortization of cloud-based software implementation costs 291 510 1,334 1,676 Impairments, loss on disposal of assets, and Shack closures601 510 1,893 3,448 Executive transition costs 31 — 2,282 414 Legal settlements — — 848 983 Restatement costs — — — 354 Other 47 — 520 3 Adjusted EBITDA $ 62,794 $ 54,141 $ 160,960 $ 153,786 Adjusted EBITDA margin 14.8% 14.7% 13.3% 14.7% (1) Expenses incurred in connection with the termination, search, and hiring of certain executive positions. (2) Expenses incurred to establish accruals related to the settlements of legal matters. (3) Expenses incurred related to the restatement of prior periods in the 2023 Form 10-K. (4) Amounts related to the conflict in the Middle East and expenses incurred for professional fees related to non-recurring matters. (5) Calculated as a percentage of Total revenue, which was $423.3 million and $1,207.6 million for the thirteen and thirty-nine weeks ended September 30, 2026, respectively, and $367.4 million and $1,044.8 million for the thirteen and thirty-nine weeks ended September 24, 2025, respectively. (1) (2) (3) (4) (5)
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Exhibit 99.1 SHAKE SHACK INC. NON-GAAP FINANCIAL MEASURES(UNAUDITED) Adjusted Pro Forma Net Income and Adjusted Pro Forma Earnings Per Fully Exchanged and Diluted Share Adjusted pro forma net income represents Net income attributable to Shake Shack Inc. assuming the full exchange of all outstanding SSE Holdings, LLC membership interests ("LLC Interests") for shares of Class A common stock, adjusted for certain non-recurring items that the Company does not believe are directly related to its core operations and may not be indicative of recurring business operations. Adjusted pro forma earnings per fully exchanged and diluted share is calculated by dividing adjusted pro forma net income by the weighted-average shares of Class A common stock outstanding, assuming the full exchange of all outstanding LLC Interests, after giving effect to the dilutive effect of outstanding equity-based awards. How These Measures Are Useful When used in conjunction with GAAP financial measures, adjusted pro forma net income and adjusted pro forma earnings per fully exchanged and diluted share are supplemental measures of operating performance that the Company believes are useful measures to evaluate performance period over period and relative to its competitors. By assuming the full exchange of all outstanding LLC Interests, the Company believes these measures facilitate comparisons with other companies that have different organizational and tax structures, as well as comparisons period over period because it eliminates the effect of any changes in Net income attributable to Shake Shack Inc. driven by increases in its ownership of SSE Holdings, which are unrelated to the Company's operating performance, and excludes items that are non-recurring or may not be indicative of ongoing operating performance. Limitations of the Usefulness of These Measures Adjusted pro forma net income and adjusted pro forma earnings per fully exchanged and diluted share may differ from similarly titled measures used by other companies due to different methods of calculation. Presentation of adjusted pro forma net income and adjusted pro forma earnings per fully exchanged and diluted share should not be considered alternatives to Net income and earnings per share, as determined under GAAP. While these measures are useful in evaluating the Company's performance, it does not account for the earnings attributable to the non-controlling interest holders and therefore does not provide a complete understanding of the Net income attributable to Shake Shack Inc. Adjusted pro forma net income and adjusted pro forma earnings per fully exchanged and diluted share should be evaluated in conjunction with GAAP financial results.
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Exhibit 99.1 A reconciliation of adjusted pro forma net income to Net income attributable to Shake Shack Inc., the most directly comparable GAAP measure, and the computation of adjusted pro forma earnings per fully exchanged and diluted share are set forth below. Thirteen Weeks Ended Thirty-Nine Weeks Ended (in thousands, except per share amounts) September 302026 September 242025 September 302026 September 242025 Numerator: Net income attributable to Shake Shack Inc. $ 16,486 $ 12,501 $ 31,876 $ 33,894 Adjustments: Reallocation of Net income attributable to non-controllinginterests from the assumed exchange of LLC Interests 1,281 1,210 2,479 2,813 Impairment charge and Shack closures 32 (44) 67 1,904 Executive transition costs 31 — 2,282 414 Legal settlements — — 848 983 Restatement costs — — — 354 Other 47 — 520 3 Tax impact of above adjustments (123) 2,187 (1,325) 1,363 Adjusted pro forma net income $ 17,754 $ 15,854 $ 36,747 $ 41,728 Denominator: Weighted average shares of Class A common stock outstanding—diluted 41,910 41,874 41,885 41,852 Adjustments: Assumed exchange of weighted average LLC Interests forshares of Class A common stock 2,400 2,437 2,420 2,443 Adjusted pro forma fully exchanged weighted average shares ofClass A common stock outstanding—diluted 44,310 44,311 44,305 44,295 Adjusted pro forma earnings per fully exchanged share—diluted$ 0.40 $ 0.36 $ 0.83 $ 0.94 Thirteen Weeks Ended Thirty-Nine Weeks Ended September 302026 September 242025 September 302026 September 242025 Earnings per share of Class A common stock—diluted $ 0.39 $ 0.30 $ 0.76 $ 0.81 Assumed exchange of weighted average LLC Interests forshares of Class A common stock 0.01 0.01 0.02 0.02 Non-GAAP adjustments — 0.05 0.05 0.11 Adjusted pro forma earnings per fully exchanged share—diluted$ 0.40 $ 0.36 $ 0.83 $ 0.94 (1) Assumes the exchange of all outstanding LLC Interests for shares of Class A common stock, resulting in the elimination of the non-controlling interest and recognition of the net income attributable to non-controlling interests. (2) Expenses incurred related to Shack closures and impairment charges during fiscal 2024 and fiscal 2025. (3) Expenses incurred in connection with the termination, search, and hiring of certain executive positions. (4) Expenses incurred to establish accruals related to the settlements of legal matters. (5) Expenses incurred related to the restatement of prior periods in the 2023 Form 10-K. (6) Amounts related to the conflict in the Middle East and expenses incurred for professional fees related to non-recurring matters. (7) Represents the tax effect of the aforementioned adjustments and pro forma adjustments to reflect corporate income taxes at assumed effective tax rates of 24.4% and 25.7% for the thirteen and thirty-nine weeks ended September 30, 2026, respectively, and 24.9% and 23.8% for the thirteen and thirty-nine weeks ended September 24, 2025, respectively. Amounts include provisions for U.S. federal income taxes, certain LLC entity-level taxes and foreign withholding taxes, assuming the highest statutory rates apportioned to each applicable state, local and foreign jurisdiction. (8) Represents the per share impact of non-GAAP adjustments for each period. Refer to the reconciliation of Adjusted pro forma net income above, for additional information. (1) (2) (3) (4) (5) (6) (7) (1) (1) (8)