What exhibit contains the Noodles & Company consolidated financial statements?

According to the 2025 Noodles & Company Franchise Disclosure Document, the consolidated financial statements of Noodles & Company are included as Exhibit F. This exhibit contains audited consolidated balance sheets as of December 31, 2024, and January 2, 2024, along with related consolidated statements of operations, stockholders' equity, and cash flows. These statements cover the three-year periods ending December 31, 2024, January 2, 2024, and January 3, 2023.

As a prospective franchisee, reviewing these financial statements is crucial for assessing the financial health and stability of Noodles & Company. The balance sheets provide a snapshot of the company's assets, liabilities, and equity at specific points in time, while the statements of operations, stockholders' equity, and cash flows reveal the company's financial performance over the past three years. Analyzing these statements can help you understand Noodles & Company's revenue trends, profitability, and cash flow generation, which are important indicators of its overall financial strength.

It is important to note that these are consolidated financial statements, meaning they include the financial results of Noodles & Company and all its subsidiaries. This provides a comprehensive view of the company's financial performance as a whole. Franchisees should carefully examine these statements and consider seeking professional financial advice to fully understand the implications for their investment. Understanding the franchisor's financial position is a critical step in evaluating the risks and opportunities associated with investing in a Noodles & Company franchise.