RAVE RESTAURANT GROUP, INC.

RAVE RESTAURANT GROUP, INC. franchises and licenses pizza restaurants under the "Pizza Inn" and "Pie Five Pizza Company" or "Pie Five" trademarks. The company's Pizza Inn brand includes franchised pizza buffet ("Buffet Units"), delivery/carry-out ("Delco Units"), express restaurants ("Express Units"), and ghost kitchens ("Pizza Inn Ghost Kitchen Units"). It also previously licensed Pizza Inn Express, or PIE, kiosks ("PIE Units"), though the last PIE Unit closed during the quarter ended June 28, 2026, with no plans for future openings. The Pie Five brand consists of franchised fast casual pizza restaurants ("Pie Five Units") and ghost kitchens ("Pie Five Ghost Kitchen Units"). As of June 28, 2026, RAVE RESTAURANT GROUP, INC. had a total of 109 franchised Pizza Inn restaurants, 13 franchised Pie Five Units, and zero licensed PIE Units. The 91 domestic franchised Pizza Inn restaurants included 80 Buffet Units, four Delco Units, and seven Express Units, with zero Pizza Inn Ghost Kitchen Units. Additionally, there were 18 international franchised Pizza Inn restaurants. Domestic Pizza Inn restaurants are primarily located in the southern United States, with North Carolina, Texas, Arkansas, and South Carolina representing approximately 21%, 18%, 11%, and 10%, respectively, of the total domestic units. The company facilitates the distribution of food, equipment, and supplies to its domestic and international restaurant system through agreements with third-party distributors. The first Pizza Inn restaurant opened in Dallas, Texas, in 1958, and the company began franchising internationally in the late 1970s. The first Pie Five restaurant opened in Ft. Worth, Texas, in June 2011.