Ascent Hospitality, Parent Company of Perkins and Huddle House, Selects Toast to Power Growing Restaurant Portfolio

Toast (NYSE:TOST), the digital technology platform built for hospitality, has signed an agreement with Ascent Hospitality Management to implement Toast Enterprise Solutions at Perkins American Food Co. and Huddle House initially across 500 restaurant locations. In addition to Toast point-of-sale (POS) terminals, both Perkins and Huddle House will use Toast Go® mobile handheld devices, Kitchen Display Systems (KDS), and Toast's Restaurant Management Suite Enterprise.

Ascent Hospitality Management is focused on invigorating leading brands and positioning them for the future. To help support the company's plans for Perkins and Huddle House to enhance operational efficiency, strengthen the guest dining experience, and continue to grow, Ascent sought a modern cloud-based technology partner that could be easily implemented and managed across brands. Ascent also sought an easy-to-use platform that could scale and support future innovation for corporate users, franchisees, and restaurant staff.

"Perkins and Huddle House are proven, full-service brands with rich histories and loyal guest followings. To ensure we are well-positioned to grow for years to come, we need to increase operational efficiency — while maintaining the tradition of quality and service our guests expect from our brands," said Steve Roach, Chief Technology Officer at Ascent Hospitality Management. "From the start, the Toast team showed their excitement for our vision and demonstrated they could help us achieve it. Our first Perkins location on Toast went live last fall and we are delighted to see more of our restaurants make the transition."

"We all love the restaurant brands that provide us the same high quality, consistent, welcoming service and meals time and time again. The restaurants that truly stand the test of time are constantly raising the bar for themselves and making improvements in the background, whether it's adjusting the menu, adapting how they provide hospitality, or what tech partners they use," said Kelly Esten, Chief Marketing Officer at Toast. "Toast is delighted to partner with Perkins and Huddle House as they plan for a bright future of serving their many loyal guests for years to come."

Toast currently serves hundreds of multi-unit brands, including Caribou Coffee, Choice Hotels, Craveworthy Brands, WaBa Grill, Nothing Bundt Cakes, Papa Gino's & D'Angelo, Costa Vida Fresh Mexican Grill, and The Human Bean, among others. For more information about Toast and its enterprise capabilities, visit our Toast for Enterprise page.

About Toast

Toast (NYSE:TOST) is a cloud-based, all-in-one digital technology platform purpose-built for the entire restaurant community. Toast provides a comprehensive platform of software as a service (SaaS) products and financial technology solutions that give restaurants everything they need to run their business across point of sale, payments, operations, digital ordering and delivery, marketing and loyalty, and team management. We serve as the restaurant operating system, connecting front of house and back of house operations across service models including dine-in, takeout, delivery, catering, and retail. Toast helps restaurants streamline operations, increase revenue, and deliver amazing guest experiences. For more information, visit www.toasttab.com.

About Ascent Hospitality Management

Ascent Hospitality Management is the parent company of Huddle House and Perkins American Food Co. and was founded to acquire and invigorate storied brands to drive long-term growth. With nearly 600 locations across the U.S. and Canada, the company's mission is "Bringing friends and families together, over delicious food, served from the heart." Huddle House and Perkins each have more than 60 years of serving award-winning, made-to-order breakfast and all-day favorites with a smile to families and friends nationwide. Visit ascenthm.com for additional information on both brands and franchise opportunities.

Forward-Looking Statements

This press release contains "forward-looking statements," within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the context of the statement and generally arise when Toast or its management is discussing its beliefs, estimates or expectations. Such statements generally include the words "believes," "plans," "intends," "may," "will," "expects," "anticipates," "outlook," "continues," or similar expressions. These statements are not historical facts or guarantees of future performance, but represent the beliefs of Toast and its management at the time the statements were made regarding future events which are subject to certain risks, uncertainties and other factors, many of which are outside Toast's control. Actual results and outcomes may differ materially from what is expressed or forecast in such forward-looking statements. Forward-looking statements include, without limitation, statements regarding Toast's business plans and strategy in serving multi-unit customers, the agreement between Toast and Ascent Hospitality Management and its impact on Toast's business and operations, and the implementation of the Toast platform at Perkins and Huddle House restaurants.

The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in Toast's filings with the Securities and Exchange Commission ("SEC"), including in the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations'' in Toast's Annual Report on Form 10-K for the year ended December 31, 2023, Toast's Quarterly Report on Form 10-Q for the three and nine months ended September 30, 2024, and Toast's subsequent SEC filings. Toast can give no assurance that the plans, intentions, expectations or strategies as reflected in or suggested by those forward-looking statements will be attained or achieved. The forward-looking statements in this release are based on information available to Toast as of the date hereof, and Toast disclaims any obligation to update any forward-looking statements, except as required by law. These forward-looking statements should not be relied upon as representing Toast's views as of any date subsequent to the date of this press release.

TOST-CORP

View source version on businesswire.com: https://www.businesswire.com/news/home/20250218940337/en/

Media: [email protected]

Investors: [email protected]