Investor Deck. May 2018 NASDAQ: BURG NASDAQ: BURG 1

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1 Investor Deck May 2018 NASDAQ: BURG NASDAQ: BURG 1

2 Safe Harbor Statement Forward-Looking Statements Statements in this presentation that are not descriptions of historical facts are forward-looking statements relating to future events, and as such all forward-looking statements are made pursuant to the Securities Litigation Reform Act of Statements may contain certain forward-looking statements pertaining to future anticipated or projected plans, performance and developments, as well as other statements relating to future operations and results. Any statements in this presentation that are not statements of historical fact may be considered to be forward-looking statements. Words such as "may," "will," "expect," "believe," "anticipate," "estimate," "intends," "goal," "objective," "seek," "attempt," or variations of these or similar words, identify forward-looking statements. These forwardlooking statements by their nature are estimates of future results only and involve substantial risks and uncertainties, including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new stores, successful completion of the Company s proposed acquisitions and expansion, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed from time to time in our reports filed with the Securities and Exchange Commission. There can be no assurance that our actual results will not differ materially from expectations and other factors more fully described in our public filings with the U.S. Securities and Exchange Commission, which can be reviewed at Non-GAAP Measures Chanticleer Holdings, Inc. prepares its consolidated financial statements in accordance with United States generally accepted accounting principles ( GAAP ). In addition to disclosing financial results prepared in accordance with GAAP, the Company discloses information regarding Adjusted EBITDA and Restaurant EBITDA, which differ from the term EBITDA as it is commonly used. In addition to adjusting net income (loss) from continuing operations to exclude taxes, interest, and depreciation and amortization, Adjusted EBITDA also excludes pre-opening and closing costs for our restaurants, results of locations closed in current period, noncash expenses, transaction and severance related expenses, change in fair value of derivative liability and other income and expenses. In addition, Restaurant EBITDA also excludes management fee income, franchise revenue and general and administrative expenses. Adjusted EBITDA and restaurant EBITDA are not measures of performance defined in accordance with GAAP. However, adjusted EBITDA and restaurant EBITDA are used internally in planning and evaluating the company's operating performance and by the Company s creditors. Accordingly, management believes that disclosure of these metrics offers investors, bankers and other stakeholders an additional view of the company's operations that, when coupled with the GAAP results, provides a more complete understanding of the Company's financial results. Adjusted EBITDA and Restaurant EBITDA should not be considered as alternatives to net loss or to net cash used in operating activities as a measure of operating results or of liquidity. It may not be comparable to similarly titled measures used by other companies, and it excludes financial information that some may consider important in evaluating the company's performance. A reconciliation of GAAP net income (loss) to Adjusted EBITDA and Restaurant EBITDA is included in the accompanying financial schedules. For further information, please refer to Chanticleer s Annual Report on Form 10-K. NASDAQ: BURG 2

3 Chanticleer At A Glance Exchange: NASDAQ Ticker: BURG Common Shares: 3M Regional restaurant brand strategy Management team composed of industry veterans $11M market value Revenue of $41M Operating metrics strengthening Attractive valuation relative to peers Inflection point - entering growth phase and gaining scale Market Cap: $11M Share Price (5/4/18): $ Week Range: $1.81 $6.89 Avg. Daily Volume: 54,602 Headquarters: Charlotte, NC Employees: 800+ Founded: 2005 NASDAQ: BURG 3

4 Our Brand Portfolio AWARD WINNING REGIONAL BRANDS Strong Unit Economics 55 Units, > $40M Annual Revenue >10% Aggregate Restaurant Operating EBITDA ACCELERATED UNIT GROWTH Scalable model - expected to grow 20%+ in 2018 Little Big Burger offers industry leading economics Cash on Cash Returns for select Little Big Burger stores ranging between 60%-90% Little Big Burger expected to double in 2018 NASDAQ: BURG 4

5 Strategic Plans and Timelines & Beyond Acquisition Phase Integration Phase Profitable Growth Fast Casual Acquisitions o Little Big Burger o BGR The Burger Joint o BT s Burger Joint o American Burger Co o Just Fresh Integrate Acquired Operations Improve Margins and Cash Flow Systems & Process standardization G&A Reductions Closed Underperforming Locations Accelerate Growth Expand Franchising Drive Cash Flow Monetize Non-core Business Strengthen Balance Sheet NASDAQ: BURG 5

6 Unique, Growing Brands NASDAQ: BURG 6

7 Better Burgers Accelerating Growth & Profitability Simple, Chef-Driven Menu Best Burger in Portland Industry Leading Unit Economics Accelerate Growth Company & Franchise Gourmet, Open Flame Best Burger in DC Strong Unit Economics Leverage Updated Design Company & Franchise Expanded Menu Larger Model Improving Unit Economics Drive Cash Flow Recently closed under-performing locations to improve consolidated profitability and cash flow NASDAQ: BURG 7

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10 Welcome NASCAR Superstar Denny Hamlin to the Family! NASCAR Superstar Denny Hamlin Partners with Chanticleer Holdings to Open Little Big Burger Location in Cornelius, N.C. Agreement Includes Option for Nine Additional Locations! Over 1M Social Media Followers I m looking forward to opening my first Little Big Burger right down the street from where I live, said Hamlin. I m a huge fan of Little Big Burger. The burgers and fries are as good as you can get. I have been impressed with the management team Chanticleer has assembled with Little Big Burger, and I therefore can t be more excited about being able to further expand this concept to the Charlotte, North Carolina market. NASDAQ: BURG 10

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13 Drive Cash Flow - Monetize Focusing Investment in Fast Casual Burgers NASDAQ: BURG 13

14 Financials NASDAQ: BURG 14

15 Store Count and Revenue Growth Systemwide Store Count (As of Dec 31, 2017) Revenue LBB BT BGR JF ABC Hooters $45 $40 $35 $30 $25 $20 $15 $10 $5 $0 8 $41,7 $41,4 $35,3 $23,3 $6,4 $7,3 $1, NASDAQ: BURG 15

16 Cost & EBITDA% Trends Cost of Goods% G&A % 35% 35% 34,5% 34,4% 34,3% 34% 34,0% 33,6% 33,7% 34% 33,1% 33,1% 33,1% 33% 32,7% 32,8% 33% 32% Q2 15Q3 15Q4 15Q1 16Q2 16Q3 16Q4 16Q1 17Q2 17Q3 17Q4 17 Restaurant EBITDA 15,0% 13,4% 13,2% LBB 15%-20% 13,0% 11,3% 10,7% 11,4% 11,0% 9,9% 9,6% 7,7% 9,3% 8,1% 9,4% $1,4 $1,4 9,0% 7,8% $0,5 $0,7 $0,9 $1,0 $1,1 $1,1 $1,2 $0,9 7,0% $0,9 $0,9 5,0% 19% 17% 15% 13% 11% 9% 7% 5% 4,0% 2,0% 0,0% -2,0% -4,0% -6,0% -8,0% 21,0% 17,8% 15,0% Adjusted EBITDA 16,6% 12,8% 12,3% 14,2% 14,0% 10,1% 8,9% 11,2% Q2 15 Q3 15 Q4 15 Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Q3 17 Q4 17 -$0,6-6,9% -$0,4-4,2% -$0,1 -$0,2-0,6% 1,8% -2,3% 2,1% $0,2 $0,2-1,2% -$0,1 -$0,3-2,9% 2,3% 0,5% 0,5% $0,2 $0,1 $0,2 NASDAQ: BURG 16

17 Example Unit-Level Economics AMERICAN BURGER BGR LITTLE BIG BURGER Est. Revenue per store $850,000 $800,000 $700,000 Avg Size, sq ft 2,500 1,800 1,400 Target EBITDA margin 12% 15% 20% EBITDA per unit $100,000 $120,000 $140,000 Est. Initial Investment $450,000 $400,000 $275,000 Est. 15% TI allowance $(67,500) $(60,000) $(37,500) Est. Net Initial Investment $382,500 $340,000 $237,500 Est. Cash on Cash Return 25% 35% 60% NASDAQ: BURG 17

18 Burger Store Development Pipeline BRAND LOCATION TIMING Hassalo - Portland, OR Opened Q (EB5) Platform - Hillsboro, OR Opened Q (EB5) Progress Ridge - Beaverton, OR Opened Q2 2017(Fin Ptr) Prosperity Village - Charlotte, NC Opened Q ( Fin Ptr) Little Big Burger ( sq ft) Capitol Hill - Seattle, WA Green Lake Village - Seattle, WA Mid 2018 (Fin Ptr) Mid 2018 (Fin Ptr) Smith & Burns - Seattle, WA Mid 2018 (Fin Ptr) Multnomah Village - Portland, OR Mid 2018 (Fin Ptr) Lake Oswego, OR Mid 2018 (Company) Rea Farms - Charlotte, NC Mid 2018 (Fin Ptr) BGR ( sq ft) American Burger ( sq ft) Mosaic District - Northern VA Catholic University - Northern VA None Planned Opened Q (Company) Opened Q (Company) N/A *Company only Does not include potential Franchisee Sites pending (BGR Bloomfield NJ and Reston VA. LBB Austin TX. and San Diego) NASDAQ: BURG 18

19 Growth Strategy NASDAQ: BURG 19

20 Strategic Plans and Timelines & Beyond Acquisition Phase Integration Phase Profitable Growth Fast Casual Acquisitions o Little Big Burger o BGR The Burger Joint o BT s Burger Joint o American Burger Co o Just Fresh Integrate Acquired Operations Improve Margins and Cash Flow Systems & Process standardization G&A Reductions Closed Underperforming Locations Accelerate Growth Expand Franchising Drive Cash Flow Monetize Non-core Business Strengthen Balance Sheet NASDAQ: BURG 20

21 Better Burgers Accelerating Growth & Profitability Regional brand strategy o Cult-like following o Award winning brands o Unique appeal High perceived customer value Strong growth potential - Little Big Burger and BGR o Small, economical, efficient model o Strong unit level economics - Superior EBITDA margins and cash on cash returns NASDAQ: BURG 21

22 Valuation Relative to Peers Chanticleer Holdings enterprise value is currently half of 1X revenues compared to industry median of 3.1X US QSR & COFFEE/SNACKS PUBLIC RESTAURANT VALUATIONS MORE THAN DOUBLE IN EIGHT YEARS 10x +121% x 8x 7x EV/Revenue 6x 5x 4x MEDIAN: 3.1X 3x 2x MEDIAN: 1.4X.5X 1x 0x Aaron Allen Source: Aaron Allen & Associates, public data * Notes: 2017 Estimate NASDAQ: BURG 22

23 Conclusion At inflection point with restructuring phase complete, gaining scale and entering profitable growth phase Operations and balance sheet improving with G&A at historic lows Highly scalable and profitable model with strong store level economics Modest $20M enterprise value on 2017 revenue of $41M Trading at just half 1X EV/Revs compared to industry median of 3.1X Large upside for continued growth with strong store pipeline NASDAQ: BURG 23

24 Jason Assad Investor & Media Relations P: (678) E: NASDAQ: BURG 24

25 Appendix EBITDA Reconciliation Chanticleer Holdings, Inc. and Subsidiaries Reconcilation of Net Loss to EBITDA (Unaudited) Three Months Ended Year Ended December 31, 2017 December 31, 2016 December 31, 2017 December 31, 2016 Consolidated net loss $ (1,535,579) $ (1,940,926) $ (7,166,235) $ (4,346,034) Interest expense 646, ,463 2,592,961 2,347,019 Income tax (813,826) 60,596 (644,429) 198,463 Depreciation and amortization 513, ,882 2,282,801 2,341,697 EBITDA $ (1,189,194) $ (634,985) $ (2,934,902) $ 541,145 Restaurant pre-opening and closing expenses 179,737 27, , ,130 Operating results of restuarants closed in period 69, ,011 - Change in fair value of derivative liabilities (1,231,608) (Gain) loss on debt refinancing ,310 - Asset impairment charge 922,726-2,395,616 - Transaction and severence related expenses - 68, , ,905 Other income (expense) (62,935) 424,660 (112,984) 412,272 Adjusted EBITDA $ (79,770) $ (114,890) $ 234,083 $ 81,844 General and administrative expenses 1,132,494 1,331,915 4,442,746 5,586,128 Franchise revenues (105,550) (138,741) (395,176) (520,222) Management fee revenue (25,018) (25,000) (100,000) (100,000) Restaurant EBITDA $ 922,156 $ 1,053,284 $ 4,181,653 $ 5,047,750 NASDAQ: BURG 25