Dunkin Brands Group, Inc.

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1 Dunkin Brands Group, Inc. Investor Presentation Fourth Quarter

2 Forward-Looking Statements Certain information contained in this presentation, particularly information regarding future economic performance, finances, and expectations and objectives of management constitutes forward-looking statements. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts and are generally contain words such as believes, expects, may, will, should, seeks, approximately, intends, plans, estimates or anticipates or similar expressions. Our forward-looking statements are subject to risks and uncertainties, which may cause actual results to differ materially from those projected or implied by the forward-looking statement. Forward-looking statements are based on current expectations and assumptions and currently available data and are neither predictions nor guarantees of future events or performance. You should not place undue reliance on forward-looking statements, which speak only as of the date hereof. We do not undertake to update or revise any forward-looking statements after they are made, whether as a result of new information, future events, or otherwise, except as required by applicable law. For discussion of some of the important factors that could cause these variations, please consult the Risk Factors section of the Company s most recent Annual Report on Form 10-K. Nothing in this presentation should be regarded as a representation by any person that these targets will be achieved and the Company undertakes no duty to update its targets. Regulation G This presentation contains certain non-gaap measures which are provided to assist in an understanding of the Dunkin Brands Group, Inc. business and its performance. These measure should always be considered in conjunction with the appropriate GAAP measure. Reconciliations of non-gaap amounts to the relevant GAAP amount are available on 2

3 ASSET-LIGHT, NEARLY % YEARS OF BRAND HERITAGE SIGNIFICANT U.S. & GLOBAL GROWTH OPPORTUNITY FRANCHISED BUSINESS MORE THAN 18,000 RESTAURANTS WORLDWIDE 3

4 74 % 20 % OF 2013 SEGMENT REVENUE OF 2013 SEGMENT REVENUE 6 % OF 2013 SEGMENT REVENUE 4

5 Focused Growth Strategies Across Each Segment INCREASE COMPARABLE STORE SALES AND PROFITABILITY IN DD U.S. CONTINUE DD U.S. CONTIGUOUS STORE EXPANSION INCREASE COMPARABLE STORE SALES AND DRIVE STORE GROWTH FOR BR U.S. DRIVE ACCELERATED INTERNATIONAL GROWTH ACROSS BOTH BRANDS 5

6 Capitalizing on Near-Term Growth; Laying Groundwork for the Future GROW comp store sales growth of BR U.S. DRIVE accelerated international growth across both brands ACCELERATE DD U.S. contiguous store expansion GROW comp store sales and profitability in DD U.S. SHORT-TERM GROWTH DRIVER MEDIUM-TERM GROWTH DRIVER LONG-TERM GROWTH DRIVER 6

7 DRIVING GROWTH IN 2014 & BEYOND Strengthen worldwide awareness through global branding initiatives Make our brands more accessible to consumers Globalize U.S. disciplines and metrics Pro-actively approach sustainability 7

8 INCREASE COMPARABLE STORE SALES AND PROFITABILITY IN DD U.S. 8

0% 4.0% 2.8% 3.2% 1.7% 4.0% 4.2% 3.5% 0.0% (2.0%) (0.8%) (1.

9 Strong Dunkin Donuts U.S. Comp Growth Momentum Resilient Comp Performance Throughout Economic Cycles 8.0% 6.0% 4.0% 2.0% 5.7% 4.3% 7.0% 6.1% 4.3% 45 CONSECUTIVE QUARTERS OF COMPARABLE STORE SALES GROWTH 1.3% 2.3% 5.1% 4.2% 3.8% 3.4% 2.8% 6.0% 7.2% 4.0% 4.0% 2.8% 3.2% 1.7% 4.0% 4.2% 3.5% 0.0% (2.0%) (0.8%) (1.3%) Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 Note: Fiscal year-end changed from August to December starting in

10 Driving Comparable Store Sales and Franchisee Profitability Portfolio of High-Margin, Differentiated Beverage and Food Products Successful Limited Time Offer Strategy Continuous operational improvement 10

11 $300M + CONSUMER ENGAGEMENT FRANCHISEE-FUNDED ADVERTISING BUDGET NATIONAL MARKETING DRIVING SALES AND BUILDING BRAND AWARENESS WITH INTERACTIVE & SOCIAL MEDIA 11

12 Rewarding Every Dunkin Run Launched DD Perks Rewards Program Nationally on January 27 12

13 CONTINUE DD U.S. CONTIGUOUS STORE EXPANSION 13

14 Opportunity to Double Dunkin Donuts US Footprint REGION STORES (1) PENETRATION (1) Core 3,932 1:9,200 Established 2,472 1:22,000 Emerging 1,059 1:84,000 West 214 1:610,000 TOTAL 7,677 1:40,000 1 As of end of December

~4,000 3,932 2,472 ~5,000 1,059 214 Q4 '13 Core Established Emerging West

15 Significant Long-Term Expansion Opportunity for Dunkin Donuts U.S. West Emerging Established Core ~15,000+ ~ 5,000 ~4,000 7,677 ~100 ~350 ~3,000 ~2,700 ~4,000 3,932 2,472 ~5,000 1, Q4 '13 Core Established Emerging West Long-term 1:9,200 1:20,000 1:23,000 1:25,000 1:20,000 DD PRO FORMA LONG-TERM PENETRATION 15

16 Proven Track Record of Accelerating Growth DUNKIN DONUTS U.S. NET DEVELOPMENT E 16

Core 10-15% West 16% West 15-20% Opened 371 net new restaurants in 2013 for 5% net unit growth

17 Contiguous Development Strategy is Driving High-Quality, Efficient Growth Established 33% 2013 Net Openings by Market Type Core 24% Established 30-35% Forecasted 2014 Net Openings by Market Type Core 10-15% West 16% West 15-20% Opened 371 net new restaurants in 2013 for 5% net unit growth Emerging 27% Emerging 30-35% Expecting 380 to 410 net new restaurants in 2014 for 5%+ net unit growth 17

VOLUMES $936,000 CASH-ON-CASH RETURNS 25-30% As of 4/1/2013 Traditional

18 Compelling unit economics driving accelerated growth 2012 COHORT STORE-LEVEL ECONOMICS TRADITIONAL STORES AVERAGE INITIAL CAPEX $420,000 AVERAGE UNIT VOLUMES $936,000 CASH-ON-CASH RETURNS 25-30% As of 4/1/2013 Traditional Dunkin Donuts Restaurants only 2012 data is projected based on partial year results 18

19 Strong Growth in Restaurant Profitability Since % GROWTH IN W&E 7pt INCREASE IN W&E 21 pt INCREASE IN W&E FIRST YEAR SALES 25% GROWTH IN C&E $15K $10K FIRST YEAR EBITDA% 6pt INCREASE IN C&E % 5% FIRST YEAR CASH-ON-CASH RETURN 17pt INCREASE IN C&E % 25% 15% 5% 2012 Data is forecasted, DD Traditional restaurants only West & Emerging Core & Established 19

20 Unlocking Tremendous Westward Expansion Opportunity RIGOROUS REAL-ESTATE & FRANCHISEE SELECTION OPERATIONS-FOCUSED CULTURE NATIONAL MEDIA FOCUSED ON BEVERAGES PORTFOLIO OF HIGH-MARGIN PRODUCTS 5 FLAT NATIONAL COST OF GOODS BY

21 DRIVE ACCELERATED INTERNATIONAL GROWTH ACROSS BOTH BRANDS 21

1,000 800 3,297 600 706 598 636 271 400 478 200-2,347 338 365 120 92 81 Asia

22 Both brands have strong international presence with significant growth potential Store count: 6,000 1,200 5,644 1,044 Baskin-Robbins Dunkin' Donuts 1, , , Asia Middle East Europe Americas Australia / NZ 11 Note: Unit count as of end of Dec

23 Targeting International Growth in Highest AWS/Profit Opportunity Markets Opened 415 net new Dunkin Donuts and BaskinRobbins internationally in 2013 Expecting net new Dunkin Donuts and Baskin-Robbins internationally in

24 Strong International Presence Today with Significant Long-Term Growth Potential Opened 1 st U.K. Dunkin Donuts 41 Dunkin Donuts in Germany Franchise recruitment underway in Brazil, Turkey & Scandinavia Formed Baskin-Robbins Australia JV with existing Middle East partner Franchise recruitment underway in South Africa & Germany 24

25 INCREASE COMPARABLE STORE SALES GROWTH OF BR U.S. 25

optimization complete Growing with topperforming franchisees Attractive

26 Returning Baskin-Robbins U.S. to Growth Opened 4 net new restaurants in 2013 Restaurant base optimization complete Growing with topperforming franchisees Attractive franchising offers Expecting 5 to 10 net new restaurants in 2014 Improving unit economics Growing brand advertising fund 26

27 Franchisee-Model Enables Leveraged Capital Structure and Financial Flexibility DELEVERAGE EBITDA growth & required amortization payments UPSIZED TERM LOAN IN AUGUST SHARE REPURCHASE Offset dilution from exercising of stock options & other opportunistic repurchases DIVIDENDS Raised quarterly dividend from $0.19 in 2013 to $0.23 in Q Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q

28 2014 Guidance BUSINESS SEGMENTS DUNKIN BRANDS DUNKIN DONUTS U.S. 3% 4% comp store sales growth total net unit development 500 remodels INTERNATIONAL (DD & BR) total net unit development 6 8% revenue growth 10 12% adjusted operating income growth 150 to 200 bps of adjusted operating income margin expansion $1.79 $1.83 EPS BASKIN-ROBBINS U.S. 1 3% comp store sales growth 5 10 total net unit development 28

29 Long-Term Earnings Targets DRIVERS LONG-TERM TARGETS STRONG, CONSISTENT REVENUE GROWTH U.S. consolidated comps in the 2 4% range Total net unit development of approximately 4 6% with opportunity to accelerate 6 8% revenue growth 10 12% adjusted operating income growth 15%+ adjusted EPS growth HIGHLY LEVERAGEABLE COST STRUCTURE Drives margin expansion of bps per year STRONG FREE CASH FLOW Facilitates earnings growth through deleveraging or shareholder payout 29

30 Brands have unique mix of heritage and consumer buzz Key ingredients in place to drive sustainable longterm growth Track record of driving strong comps Domestic and international growth opportunities Focused on driving disciplined, profitable growth by franchisees Asset-light business model generating strong cash flow EXPECT TO OPEN 685 TO 800 NET NEW RESTAURANTS GLOBALLY IN

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Dunkin Brands Group, Inc.

Dunkin Brands Group, Inc. Investor Presentation Jefferies Consumer Conference Nigel Travis Chairman & CEO 1 Forward-Looking Statements Certain information contained in this presentation, particularly information