Risk Factors Update Summary

• Sweetgreen incurred $7.4 million and $14.4 million restructuring expenses in fiscal year 2023 and 2022, respectively.
• Increased net loss from $190.4 million in 2022 to $113.2 million in 2023.
• Revenue decreased from 32% to 28% in fiscal years 2022 and 2023, respectively.
• State net operating loss carryforwards decreased from $610 million to $630 million in 2022 and 2023.
• Future sales of Class A common stock could dilute other stockholders' ownership.
• Implementation of cost-cutting measures, including workforce reductions, to offset pressures.
• California legislation requires a minimum wage of $20 per hour for certain restaurant employees.
• Compliance with Section 404 requires evaluation to be included in the Annual Reports on Form 10-K.
• Transition to alternative bowls and packaging solutions due to supply chain disruptions.
• Issuance of additional capital stock in the future may result in dilution to all other stockholders.
• Introduction of steak as an ingredient may impact achieving carbon neutrality by 2027.
• Increased labor costs due to inflation and higher gas prices affecting operations in 2023.
• Potential need for additional capital to support business growth and technology development.
• Changes in executive management team may result in loss of institutional knowledge.