Tranche Update on Good Times Restaurants Inc.'s Equity Buyback Plan announced on February 3, 2022.

Good Times Restaurants Inc. is an operator of Bad Daddy’s Burger Bar and Good Times Burgers & Frozen Custard. The Company owns, operates and licenses 41 Bad Daddy’s Burger Bar restaurants through its wholly owned subsidiaries. Bad Daddy’s Burger Bar is a full-service small box restaurant concept featuring a chef-driven menu of gourmet signature burgers, chopped salads, appetizers and sandwiches with a full bar and a focus on a selection of local and craft beers in a high-energy atmosphere that appeals to a broad consumer base. In addition, through its wholly owned subsidiaries, Good Times Restaurants Inc. owns, operates and franchises 31 Good Times Burgers & Frozen Custard restaurants primarily in Colorado. Good Times is a regional quick-service concept featuring 100% all-natural burgers and chicken sandwiches, signature wild fries, green chili breakfast burritos and fresh frozen custard desserts. Its subsidiaries include Good Times Drive Thru Inc. and Bad Daddy’s International, LLC.