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Two-year Company-owned comparable net bakery-cafe sales increased 11.5%.

Additionally, Company-owned comparable net bakery-cafe sales in fiscal Q1 2017 outperformed the Black Box all-industry composite by 690 basis points.

Both JAB Holding Company and JAB Consumer Fund are overseen by three senior partners, .

About Panera Thirty years ago, at a time when quick service meant low quality, Panera set out to challenge this expectation.

We believed that food that was good and that you could feel good about, served in a warm and welcoming environment by people who cared, could bring out the best in all of us.

Indeed, Panera has been the best performing restaurant stock of the past twenty years – up over 8,000%.

Today's transaction is a direct reflection of those efforts, and delivers substantial additional value for our shareholders." Shaich continued, "Over the last five years, we have developed and executed a powerful strategic plan to be a better competitive alternative with emerging runways for growth.

Today, we are pre-releasing Q1 2017 Company-owned bakery-cafe comps of 5.3%, which is 690 bps better than the Black Box all-industry composite." Shaich concluded, "Our success for shareholders is the byproduct of our commitment to long-term decision making and operating in the interest of all stakeholders, including guests, associates, and franchisees.