PBPB Potbelly Corporation

Potbelly Corporation (NASDAQ: PBPB), the iconic neighborhood sandwich shop concept, today announced the launch of its Potbelly 50/50 Large Area Developer Incentive Program, designed to reward multi-unit operating partners who successfully develop and open shops on an accelerated timeline. This announcement comes as Potbelly continues to strategically execute its long-term growth plans and expand its brand across the U.S.

As part of the program, franchisees who enter a Shop Development Area Agreement (SDAA) to open at least 15 Potbelly shops in eight years or less will now have the opportunity to receive substantial financial benefits for beating their committed dates. Through the Potbelly 50/50 Large Area Developer Incentive Program, Potbelly will offer qualifying franchisees reduced initial franchise fees and reduced deposit fees, as well as 50% off royalty fees for the period of time the shop is opened ahead of the required opening date.

“Our franchisees are key partners in our long-term growth, and Potbelly is proud to support them in all aspects of their business, including the critical development stage,” said Lynette McKee, CFE, Senior Vice President of Franchising at Potbelly. “We are excited to introduce these new benefits to support and deliver significant cost savings to our multi-unit franchisees who are able to execute efficient development timelines and bring Potbelly’s good vibes and delicious food to new neighborhoods.”

As Potbelly continues to grow, it remains focused on attracting existing franchisees of non-competing brands with a strong franchising portfolio and financial strength to help the brand scale. Franchising opportunities are available across the U.S., including in the markets of Atlanta, GA, Phoenix, Denver, Ohio, Virginia, Pennsylvania, parts of Florida and Tennessee, Dallas, Houston and other Texas markets.

You can learn more about franchise opportunities with Potbelly at https://www.potbelly.com/franchising-why-potbelly.

About PotbellyPotbelly Corporation is a neighborhood sandwich concept that has been feeding customers’ smiles with warm, toasty sandwiches, signature salads, hand-dipped shakes and other fresh menu items, customized just the way customers want them, for more than 40 years. Potbelly promises Fresh, Fast & Friendly service in an environment that reflects the local neighborhood. Since opening its first shop in Chicago in 1977, Potbelly has expanded to neighborhoods across the country - with more than 440 shops in the United States including more than 90 franchised shops in the United States. For more information, please visit our website at www.potbelly.com.

Forward Looking Statements

This press release may contain statements that might be considered as forward-looking statements or predictions of future operations including, but not limited to, statements regarding the Company’s ability to execute its long-term growth strategy, the expansion of the Potbelly brand across the U.S. and the Company’s ability to attract franchisees of non-competing brands. Such statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are based on management’s belief or interpretation of information currently available. These statements and assumptions involve certain risks and uncertainties including the Company’s ability to successfully execute its long-term growth plans and the Company’s ability to achieve its planned expansion through the Potbelly 50/50 Large Area Developer Incentive Program. Actual events may also differ from these expectations as a result of the risks identified from time to time in our filings with the Securities and Exchange Commission. We assume no duty to update these statements as of any future date.

Media Contact:ICRPotbellyPR@icrinc.com