Where can I find the Statement of Ownership Interests exhibit for Del Taco?

According to the 2025 Del Taco Franchise Disclosure Document, if the franchise developer is not an individual, each holder of an ownership interest in the developer must be listed in Exhibit C. This exhibit is related to the Personal Guarantee included with the agreement, suggesting that Exhibit C contains details about the ownership interests in the development entity.

Furthermore, the FDD states that the organizational documents of a legal entity (articles of incorporation, partnership agreement, etc.) must include provisions that limit the entity's purpose to the development and operation of Del Taco restaurants. These documents must also prohibit the issuance and transfer of ownership interests in violation of the agreement. Del Taco requires certified copies of these documents to ensure compliance.

To ensure transparency and control over ownership, Del Taco mandates that all ownership interest documents bear a specific legend indicating that the transfer of these securities is subject to the terms and conditions of the agreement with Del Taco LLC. The developer is also required to place a stop transfer order against any transfer of ownership interests, except those permitted by the agreement. Therefore, a prospective franchisee should refer to Exhibit C of the Development Agreement to find the Statement of Ownership Interests and understand the full scope of ownership obligations and restrictions.