Bloomin' Brands, Inc. 10-Q

Item 1. Financial Statements CONSOLIDATED BALANCE SHEETS (IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA) JUNE 28, 2026 DECEMBER 28, 2025 (UNAUDITED) ASSETS Current assets Cash and cash equivalents $ 66,613 $ 59,461 Inventories 60,309 61,486 Other current assets, net 82,671 148,691 Total current assets 209,593 269,638 Property, fixtures and equipment, net 897,895 912,645 Operating lease right-of-use assets 967,380 979,270 Goodwill 185,135 185,135 Intangible assets, net 423,354 425,266 Deferred income tax assets, net 253,014 224,693 Equity method investment 66,694 63,967 Other assets, net 114,990 111,293 Total assets $ 3,118,055 $ 3,171,907 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities Accounts payable $ 153,632 $ 138,189 Current operating lease liabilities 176,821 176,268 Accrued and other current liabilities 183,488 186,256 Unearned revenue 310,095 377,933 Total current liabilities 824,036 878,646 Non-current operating lease liabilities 1,033,036 1,046,380 Deferred income tax liabilities, net 10,145 9,009 Long-term debt, net 702,788 787,425 Other long-term liabilities, net 112,982 113,282 Total liabilities 2,682,987 2,834,742 Commitments and contingencies (Note 13) Stockholders’ equity Bloomin’ Brands stockholders’ equity Preferred stock, $ 0.01 par value, 25,000,000 shares authorized; no shares issued and outstanding as of June 28, 2026 and December 28, 2025 — — Common stock, $ 0.01 par value, 475,000,000 shares authorized; 85,614,287 and 85,221,767 shares issued and outstanding as of June 28, 2026 and December 28, 2025, respectively 856 852 Additional paid-in capital 1,246,837 1,241,239 Accumulated deficit ( 830,599 ) ( 917,597 ) Accumulated other comprehensive income 14,739 9,108 Total Bloomin’ Brands stockholders’ equity 431,833 333,602 Noncontrolling interests 3,235 3,563 Total stockholders’ equity 435,068 337,165 Total liabilities and stockholders’ equity $ 3,118,055 $ 3,171,907 The accompanying notes are an integral part of these unaudited consolidated financial statements. 3 Table of Contents BLOOMIN’ BRANDS, INC. CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (IN THOUSANDS, EXCEPT PER SHARE DATA, UNAUDITED) THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED JUNE 28, 2026 JUNE 29, 2025 JUNE 28, 2026 JUNE 29, 2025 Revenues Restaurant sales $ 997,957 $ 984,771 $ 2,039,783 $ 2,014,288 Franchise and other revenues 17,852 17,595 35,699 37,672 Total revenues 1,015,809 1,002,366 2,075,482 2,051,960 Costs and expenses Food and beverage 306,397 298,332 623,810 611,636 Labor and other related 312,670 315,494 632,879 630,744 Other restaurant operating 254,833 253,225 513,647 511,360 Depreciation and amortization 46,010 44,598 92,306 88,545 General and administrative 53,664 59,527 105,970 120,904 Provision for impaired assets and restaurant closings 3,972 1,540 9,504 1,890 Total costs and expenses 977,546 972,716 1,978,116 1,965,079 Income from operations 38,263 29,650 97,366 86,881 Interest expense, net ( 11,141 ) ( 10,699 ) ( 23,553 ) ( 21,886 ) Income before benefit for income taxes 27,122 18,951 73,813 64,995 Benefit for income taxes ( 6,672 ) ( 8,748 ) ( 16,963 ) ( 7,845 ) Loss from equity method investment, net of tax ( 864 ) ( 1,806 ) ( 1,042 ) ( 3,097 ) Net income from continuing operations 32,930 25,893 89,734 69,743 (Loss) income from discontinued operations, net of tax ( 350 ) 779 82 525 Net income 32,580 26,672 89,816 70,268 Less: net income attributable to noncontrolling interests 1,236 1,253 2,818 2,697 Net income attributable to Bloomin’ Brands $ 31,344 $ 25,419 $ 86,998 $ 67,571 Net income $ 32,580 $ 26,672 $ 89,816 $ 70,268 Other comprehensive income: Foreign currency translation adjustments 1,147 1,731 3,717 ( 622 ) Reclassification of foreign currency translation adjustments into earnings due to sale of business — — — 217,548 Net gain on derivatives, net of tax 266 290 1,914 113 Comprehensive income 33,993 28,693 95,447 287,307 Less: comprehensive income attributable to noncontrolling interests 1,236 1,253 2,818 2,697 Comprehensive income attributable to Bloomin’ Brands $ 32,757 $ 27,440 $ 92,629 $ 284,610 Basic earnings per share: Continuing operations $ 0.37 $ 0.29 $ 1.02 $ 0.79 Discontinued operations (*) 0.01 * 0.01 Net basic earnings per share $ 0.37 $ 0.30 $ 1.02 $ 0.80 Diluted earnings per share: Continuing operations $ 0.37 $ 0.29 $ 1.01 $ 0.79 Discontinued operations (*) 0.01 * 0.01 Net diluted earnings per share $ 0.36 $ 0.30 $ 1.01 $ 0.79 Weighted average common shares outstanding: Basic 85,559 85,041 85,418 84,971 Diluted 86,223 85,140 85,987 85,135 Th e accompanying notes are an integral part of these unaudited consolidated financial statements. * Represents less than $0.01. Amounts may not add due to rounding. 4 Table of Contents BLOOMIN’ BRANDS, INC. CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (IN THOUSANDS, EXCEPT PER SHARE DATA, UNAUDITED) BLOOMIN’ BRANDS, INC. COMMON STOCK ADDITIONAL PAID-IN CAPITAL ACCUM- ULATED DEFICIT ACCUMULATED OTHER COMPREHENSIVE INCOME NON-CONTROLLING INTERESTS TOTAL SHARES AMOUNT Balance, March 29, 2026 85,409 $ 854 $ 1,243,290 $ ( 861,943 ) $ 13,326 $ 3,240 $ 398,767 Net income — — — 31,344 — 1,236 32,580 Other comprehensive income, net of tax — — — — 1,413 — 1,413 Stock-based compensation — — 3,559 — — — 3,559 Common stock issued under stock plans (1) 205 2 ( 12 ) — — — ( 10 ) Distributions to noncontrolling interests — — — — — ( 1,628 ) ( 1,628 ) Contributions from noncontrolling interests — — — — — 387 387 Balance, June 28, 2026 85,614 $ 856 $ 1,246,837 $ ( 830,599 ) $ 14,739 $ 3,235 $ 435,068 Balance, December 28, 2025 85,222 $ 852 $ 1,241,239 $ ( 917,597 ) $ 9,108 $ 3,563 $ 337,165 Net income — — — 86,998 — 2,818 89,816 Other comprehensive income, net of tax — — — — 5,631 — 5,631 Stock-based compensation — — 6,229 — — — 6,229 Common stock issued under stock plans (1) 392 4 ( 631 ) — — — ( 627 ) Distributions to noncontrolling interests — — — — — ( 3,567 ) ( 3,567 ) Contributions from noncontrolling interests — — — — — 421 421 Balance, June 28, 2026 85,614 $ 856 $ 1,246,837 $ ( 830,599 ) $ 14,739 $ 3,235 $ 435,068 (CONTINUED...) 5 Table of Contents BLOOMIN’ BRANDS, INC. CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (IN THOUSANDS, EXCEPT PER SHARE DATA, UNAUDITED) BLOOMIN’ BRANDS, INC. COMMON STOCK ADDITIONAL PAID-IN CAPITAL ACCUM- ULATED DEFICIT ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) NON-CONTROLLING INTERESTS TOTAL SHARES AMOUNT Balance, March 30, 2025 84,987 $ 850 $ 1,261,204 $ ( 883,682 ) $ 2,225 $ 4,253 $ 384,850 Net income — — — 25,419 — 1,253 26,672 Other comprehensive income, net of tax — — — — 2,021 — 2,021 Cash dividends declared, $ 0.15 per common share — — ( 12,759 ) — — — ( 12,759 ) Stock-based compensation — — 2,403 — — — 2,403 Common stock issued under stock plans (1) 75 1 ( 46 ) — — — ( 45 ) Distributions to noncontrolling interests — — — — — ( 1,651 ) ( 1,651 ) Contributions from noncontrolling interests — — — — — 202 202 Retirement of warrants — — ( 399 ) — — — ( 399 ) Balance, June 29, 2025 85,062 $ 851 $ 1,250,403 $ ( 858,263 ) $ 4,246 $ 4,057 $ 401,294 Balance, December 29, 2024 84,855 $ 849 $ 1,273,288 $ ( 925,834 ) $ ( 212,793 ) $ 3,936 $ 139,446 Net income — — — 67,571 — 2,697 70,268 Other comprehensive income, net of tax — — — — 217,039 — 217,039 Cash dividends declared, $ 0.30 per common share — — ( 25,506 ) — — — ( 25,506 ) Stock-based compensation — — 3,632 — — — 3,632 Common stock issued under stock plans (1) 207 2 ( 612 ) — — — ( 610 ) Distributions to noncontrolling interests — — — — — ( 3,451 ) ( 3,451 ) Contributions from noncontrolling interests — — — — — 875 875 Retirement of warrants — — ( 399 ) — — — ( 399 ) Balance, June 29, 2025 85,062 $ 851 $ 1,250,403 $ ( 858,263 ) $ 4,246 $ 4,057 $ 401,294 ________________ (1) Net of shares withheld for employee taxes. The accompanying notes are an integral part of these unaudited consolidated financial statements. 6 Table of Contents BLOOMIN’ BRANDS, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (IN THOUSANDS, UNAUDITED) TWENTY-SIX WEEKS ENDED JUNE 28, 2026 JUNE 29, 2025 Cash flows provided by operating activities: Net income $ 89,816 $ 70,268 Income from discontinued operations, net of tax 82 525 Net income from continuing operations 89,734 69,743 Adjustments to reconcile Net income from continuing operations to cash provided by operating activities of continuing operations: Depreciation and amortization 92,306 88,545 Amortization of deferred gift card sales commissions 11,640 11,767 Provision for impaired assets and restaurant closings 9,504 1,890 Stock-based compensation expense 6,229 3,632 Deferred income tax expense — 1,055 Loss on foreign currency forward contracts — 18,711 Loss from equity method investment, net of tax 1,042 3,097 Foreign currency translation gain on installment receivable from sale of business — ( 14,152 ) Other, net 438 411 Change in assets and liabilities ( 44,476 ) ( 64,014 ) Net cash provided by operating activities of continuing operations 166,417 120,685 Net cash (used in) provided by operating activities of discontinued operations ( 200 ) 2,443 Net cash provided by operating activities $ 166,217 $ 123,128 Cash flows used in investing activities: Capital expenditures $ ( 69,187 ) $ ( 84,297 ) Payments on foreign currency forward contracts — ( 12,436 ) Cash received from sale, net of tax withheld and cash left in business — 95,863 Other investments, net 341 1,290 Net cash (used in) provided by investing activities of continuing operations ( 68,846 ) 420 Net cash used in investing activities of discontinued operations — ( 1,623 ) Net cash used in investing activities $ ( 68,846 ) $ ( 1,203 ) Cash flows used in financing activities: Proceeds from borrowings on revolving credit facilities $ 405,000 $ 770,000 Repayments of borrowings on revolving credit facilities ( 490,000 ) ( 860,000 ) Repayments of finance lease obligations ( 1,403 ) ( 1,348 ) Principal settlements and repurchase of convertible senior notes — ( 20,724 ) Payments for retirement of warrants — ( 399 ) Payments of taxes from share-based compensation, net ( 627 ) ( 610 ) Distributions to noncontrolling interests ( 3,567 ) ( 3,451 ) Contributions from noncontrolling interests 421 875 Cash dividends paid on common stock — ( 25,506 ) Other — ( 100 ) Net cash used in financing activities of continuing operations ( 90,176 ) ( 141,263 ) Net cash used in financing activities of discontinued operations — ( 65 ) Net cash used in financing activities ( 90,176 ) ( 141,328 ) Effect of exchange rate changes on cash and cash equivalents ( 43 ) ( 345 ) Net increase (decrease) in cash and cash equivalents 7,152 ( 19,748 ) Cash and cash equivalents as of the beginning of the period 59,461 70,056 Cash and cash equivalents as of the end of the period $ 66,613 $ 50,308 Supplemental disclosures of cash flow information: Cash paid for interest $ 23,162 $ 29,134 Supplemental disclosures of non-cash activities: Capital expenditures included in current liabilities $ 25,216 $ 20,090 The accompanying notes are an integral part of these unaudited consolidated financial statements. 7 Table of Contents BLOOMIN’ BRANDS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) 1. Description of the Business and Basis of Presentation Description of the Business - Bloomin’ Brands, Inc. (“Bloomin’ Brands” or the “Company”), a holding company that conducts its operations through its subsidiaries, is one of the largest full-service dining restaurant companies in the world, with a portfolio of leading, differentiated restaurant concepts. OSI Restaurant Partners, LLC (“OSI”) is the Company’s primary operating entity. The Company owns and operates casual, polished casual and fine dining restaurants. The Company’s restaurant portfolio includes Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill and Fleming’s Prime Steakhouse & Wine Bar. Additional Outback Steakhouse, Carrabba’s Italian Grill and Bonefish Grill restaurants are operated under franchise agreements. Basis of Presentation - The accompanying interim unaudited condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission. Accordingly, they do not include all the information and footnotes required by generally accepted accounting principles in the United States (“U.S. GAAP”) for complete financial statements. The Company utilizes a 52-53-week year ending on the last Sunday in December and its fiscal year ending December 27, 2026 will contain 52 weeks. In the opinion of the Company, all adjustments necessary for fair statement of results for the periods presented have been included and are of a normal, recurring nature. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Unless otherwise noted, disclosures within these Notes to Consolidated Financial Statements relate solely to the Company’s continuing operations. These financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 28, 2025. The preparation of the accompanying consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimated. Reclassifications - The Company reclassified certain immaterial amounts in prior period financial statements to conform to the current period’s presentation. These reclassifications had no effect on previously reported Net income. Recently Issued Financial Accounting Standards Not Yet Adopted - In November 2024, the FASB issued ASU No. 2024-03, “Income Statement - Reporting Comprehensive Income (Subtopic 220-40): Disaggregation of Income Statement Expenses,” (“ASU No. 2024-03”) which requires detailed disclosures in the notes to financial statements of expense categories within relevant income statement captions including purchases of inventory, employee compensation, depreciation and intangible asset amortization. ASU No. 2024-03 is effective for fiscal years beginning after December 15, 2026 and interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. ASU No. 2024-03 may be applied either prospectively for reporting periods after the effective date or retrospectively to prior periods presented. The Company is currently evaluating the impact ASU No. 2024-03 will have on its disclosures. Recent accounting guidance not discussed herein is not applicable, did not have or is not expected to have a material impact to the Company. 2. Equity Method Investment On December 30, 2024, an indirect wholly owned subsidiary of the Company completed the sale of 67 % of the ownership interest in its business in Brazil to a fund managed by an affiliate of Vinci Partners Investments Ltd. (the 8 Table of Contents BLOOMIN’ BRANDS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - Continued “Brazil Sale Transaction”). Following the closing, the Brazil restaurants began operating as unconsolidated franchisees and the Company retained a 33 % interest, which is accounted for using the equity method of accounting. To ensure timely reporting, the Company records the results of the equity method investment in Brazil on a calendar basis one-month lag. Following is a rollforward of the Company’s equity method investment for the periods indicated: THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED (dollars in thousands) JUNE 28, 2026 JUNE 29, 2025 JUNE 28, 2026 JUNE 29, 2025 Balance, beginning of the period $ 66,404 $ 61,776 $ 63,967 $ — Fair value of retained interest at sale closing date — — — 59,863 Loss, net of tax ( 864 ) ( 1,806 ) ( 1,042 ) ( 3,097 ) Foreign currency translation adjustment 1,154 1,732 3,769 4,936 Balance, end of the period $ 66,694 $ 61,702 $ 66,694 $ 61,702 3. Revenue Recognition The following tables include the disaggregation of Restaurant sales and franchise revenues by restaurant concept and reportable segment for the periods indicated: THIRTEEN WEEKS ENDED JUNE 28, 2026 JUNE 29, 2025 (dollars in thousands) RESTAURANT SALES FRANCHISE REVENUES RESTAURANT SALES FRANCHISE REVENUES U.S. Outback Steakhouse $ 576,278 $ 7,755 $ 571,897 $ 7,800 Carrabba’s Italian Grill 181,118 575 181,141 573 Bonefish Grill 133,087 72 126,671 89 Fleming’s Prime Steakhouse & Wine Bar 97,902 — 95,586 — U.S. total 988,385 8,402 975,295 8,462 International Franchise — 7,593 — 7,051 Other (1) 9,572 11 9,476 10 Total $ 997,957 $ 16,006 $ 984,771 $ 15,523 TWENTY-SIX WEEKS ENDED JUNE 28, 2026 JUNE 29, 2025 (dollars in thousands) RESTAURANT SALES FRANCHISE REVENUES RESTAURANT SALES FRANCHISE REVENUES U.S. Outback Steakhouse $ 1,176,588 $ 15,764 $ 1,169,378 $ 15,969 Carrabba’s Italian Grill 365,605 1,162 365,471 1,235 Bonefish Grill 273,565 141 262,662 193 Fleming’s Prime Steakhouse & Wine Bar 204,818 — 197,914 — U.S. total 2,020,576 17,067 1,995,425 17,397 International Franchise (2) — 15,163 — 16,334 Other (1) 19,207 27 18,863 32 Total $ 2,039,783 $ 32,257 $ 2,014,288 $ 33,763 ________________ (1) Includes Restaurant sales for Company-owned restaurants in Hong Kong. (2) The twenty-six weeks ended June 29, 2025 includes one month of pre-Brazil Sale Transaction intercompany royalties. 9 Table of Contents BLOOMIN’ BRANDS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - Continued The following table includes a detail of assets and liabilities from contracts with customers included on the Company’s Consolidated Balance Sheets as of the periods indicated: (dollars in thousands) JUNE 28, 2026 DECEMBER 28, 2025 Other current assets, net Deferred gift card sales commissions $ 12,919 $ 17,155 Unearned revenue Deferred gift card revenue $ 302,404 $ 370,439 Deferred loyalty revenue 5,557 5,695 Deferred franchise fees - current 538 544 Other 1,596 1,255 Total Unearned revenue $ 310,095 $ 377,933 Other long-term liabilities, net Deferred franchise fees - non-current $ 4,387 $ 4,408 The following table is a rollforward of deferred gift card sales commissions for the periods indicated: THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED (dollars in thousands) JUNE 28, 2026 JUNE 29, 2025 JUNE 28, 2026 JUNE 29, 2025 Balance, beginning of the period $ 13,633 $ 13,127 $ 17,155 $ 16,935 Deferred gift card sales commissions amortization ( 4,839 ) ( 4,870 ) ( 11,640 ) ( 11,767 ) Deferred gift card sales commissions capitalization 4,633 4,900 8,685 8,873 Other ( 508 ) ( 603 ) ( 1,281 ) ( 1,487 ) Balance, end of the period $ 12,919 $ 12,554 $ 12,919 $ 12,554 The following table is a rollforward of unearned gift card revenue for the periods indicated: THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED (dollars in thousands) JUNE 28, 2026 JUNE 29, 2025 JUNE 28, 2026 JUNE 29, 2025 Balance, beginning of the period $ 313,425 $ 308,738 $ 370,439 $ 366,059 Gift card sales 56,776 58,035 104,884 104,561 Gift card redemptions ( 62,817 ) ( 63,072 ) ( 160,244 ) ( 160,666 ) Gift card breakage ( 4,980 ) ( 4,065 ) ( 12,675 ) ( 10,318 ) Balance, end of the period $ 302,404 $ 299,636 $ 302,404 $ 299,636 10 Table of Contents BLOOMIN’ BRANDS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - Continued Franchise Revenue - Effective December 31, 2023, the Company entered into an Amended & Restated Holistic Resolution Agreement (the “2023 Resolution Agreement”) with Cerca Trova Southwest Restaurant Group, LLC (d/b/a Out West Restaurant Group) and certain of its affiliates (collectively, “Out West”), who currently operate 71 franchised Outback Steakhouse restaurants in the western United States. The 2023 Resolution Agreement provided for forbearance regarding prior defaults and established operating covenants to maintain such forbearance. During the thirteen weeks ended June 28, 2026, the Company received notice from the agent for Out West’s senior lender that Out West was in default of its separate Credit and Guaranty Agreement, dated as of April 25, 2017 (as amended or otherwise modified from time to time, the "Credit Agreement”) and Forbearance Agreement and Fourth Amendment to Credit and Guaranty Agreement (the “Forbearance Agreement”) with such agent and senior lenders as Out West was no longer in compliance with one or more covenants of such agreements. The agent and senior lenders have not yet elected to take any specific actions with respect to the default notice and have not yet elected to terminate the Forbearance Agreement, Credit Agreement, or other credit documents. Out West continues to operate its restaurants in the ordinary course and was current in its obligations to the Company as of June 28, 2026, including payment of royalties and other fees. If the senior lenders exercise their rights under their Forbearance Agreement with respect to this default, or the Forbearance Agreement expires or is terminated, the lenders have a priority right to payment of amounts due and may exercise creditor remedies against Out West, subject to applicable law and loan documents, including foreclosure on Out West’s assets. At this time, the Company is unable to predict the outcome of this situation or possible actions by Out West or Out West’s lenders or any alternatives that these parties may consider, which could include a court-supervised process. The Company is working with Out West and other parties to mitigate potential disruptions and is actively evaluating the Company’s operational, contractual and strategic alternatives to address Out West’s near-term liquidity constraints and longer-term operations. 4. Impairments and Exit Costs The components of Provision for impaired assets and restaurant closings are as follows for the periods indicated: THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED (dollars in thousands) JUNE 28, 2026 JUNE 29, 2025 JUNE 28, 2026 JUNE 29, 2025 Impairment losses Total U.S. impairment losses $ 2,582 $ 5,680 $ 6,162 $ 6,266 Restaurant closure charges (benefits) U.S. $ 1,405 $ ( 3,726 ) $ 3,296 $ ( 3,670 ) Other ( 15 ) ( 414 ) 46 ( 706 ) Total restaurant closure charges (benefits) 1,390 ( 4,140 ) 3,342 ( 4,376 ) Provision for impaired assets and restaurant closings $ 3,972 $ 1,540 $ 9,504 $ 1,890 11 Table of Contents BLOOMIN’ BRANDS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - Continued 5. Earnings Per Share The following table presents the computation of basic and diluted earnings per share for the periods indicated: THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED (in thousands, except per share data) JUNE 28, 2026 JUNE 29, 2025 JUNE 28, 2026 JUNE 29, 2025 Net income attributable to Bloomin’ Brands $ 31,344 $ 25,419 $ 86,998 $ 67,571 (Loss) income from discontinued operations, net of tax ( 350 ) 779 82 525 Net income attributable to Bloomin’ Brands from continuing operations $ 31,694 $ 24,640 $ 86,916 $ 67,046 Basic weighted average common shares outstanding 85,559 85,041 85,418 84,971 Effect of dilutive securities: Stock-based compensation awards 664 99 569 164 Diluted weighted average common shares outstanding 86,223 85,140 85,987 85,135 Basic earnings per share (1): Continuing operations $ 0.37 $ 0.29 $ 1.02 $ 0.79 Discontinued operations (*) 0.01 * 0.01 Net basic earnings per share $ 0.37 $ 0.30 $ 1.02 $ 0.80 Diluted earnings per share (1): Continuing operations $ 0.37 $ 0.29 $ 1.01 $ 0.79 Discontinued operations (*) 0.01 * 0.01 Net diluted earnings per share $ 0.36 $ 0.30 $ 1.01 $ 0.79 Antidilutive stock-based compensation awards 1,655 1,754 1,524 1,953 Antidilutive convertible senior notes and warrants — 1,682 — 1,835 ________________ (1) Amounts may not add due to rounding. * Represents less than $0.01. 12 Table of Contents BLOOMIN’ BRANDS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - Continued 6. Stock-based Compensation Plans The following table presents a summary of the Company’s performance-based share units (“PSUs”) and restricted stock units (“RSUs”) activity: WEIGHTED AVERAGE GRANT DATE FAIR VALUE PER UNIT AGGREGATE INTRINSIC VALUE (1) (in thousands, except per unit data) PSUs RSUs PSUs RSUs PSUs RSUs Outstanding as of December 28, 2025 626 1,461 $ 16.08 $ 9.48 $ 4,253 $ 9,920 Granted (2) 1,158 2,010 $ 6.13 $ 6.30 Performance adjustment (3) ( 229 ) — $ 21.02 $ — Vested — ( 494 ) $ — $ 10.52 Forfeited ( 33 ) ( 41 ) $ 13.61 $ 9.77 Outstanding as of June 28, 2026 1,522 2,936 $ 7.82 $ 7.13 $ 13,651 $ 26,333 Expected to vest as of June 28, 2026 (4) 1,410 2,936 $ 12,648 $ 26,333 ________________ (1) Based on the $ 6.79 and $ 8.97 share price of the Company’s common stock on the last trading day of the year ended December 28, 2025 and the twenty-six weeks ended June 28, 2026, respectively. (2) Beginning in 2025, PSU grants contain separate performance goals that are set at the beginning of each of the three annual performance periods and units earned based on performance will cliff vest after three years . (3) Represents adjustment to 0 % payout for PSUs granted during 2023 and adjustment to 67 % payout for the first annual performance period for PSUs granted during 2025. (4) For PSUs, the estimated number of units to be issued upon the vesting of outstanding PSUs is based on Company performance projections of performance criteria set forth in the 2024, 2025 and 2026 PSU award agreements. The following represents unrecognized stock-based compensation expense and the remaining weighted average recognition period as of June 28, 2026: UNRECOGNIZED COMPENSATION EXPENSE (dollars in thousands) REMAINING WEIGHTED AVERAGE RECOGNITION PERIOD (in years) Performance-based share units $ 7,288 2.2 Restricted stock units $ 16,519 2.2 7. Supplemental Balance Sheet Information Other current assets, net , consisted of the following as of the periods indicated: (dollars in thousands) JUNE 28, 2026 DECEMBER 28, 2025 Prepaid expenses $ 21,366 $ 24,018 Accounts receivable - gift cards, net 13,288 71,232 Accounts receivable - vendors, net 13,532 19,495 Accounts receivable - franchisees, net 3,326 3,603 Accounts receivable - other, net 11,887 7,886 Deferred gift card sales commissions 12,919 17,155 Other current assets, net 6,353 5,302 $ 82,671 $ 148,691 13 Table of Contents BLOOMIN’ BRANDS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - Continued Goodwill and Intangible Assets - The Company performs its annual assessment for impairment of goodwill and other indefinite-lived intangible assets as of the first day of its second fiscal quarter. The 2026 annual assessment was qualitative. During the thirteen weeks ended June 29, 2025, the Company performed a quantitative annual impairment analysis due to a decline in the Company’s stock price and market capitalization. In connection with the 2026 and 2025 annual assessments, the Company did no t record any impairment charges. During the thirteen weeks ended December 28, 2025, the Company also performed an interim quantitative impairment analysis as a result of: (i) a sustained decline in the Company’s stock price and market capitalization and (ii) a decline in margins specific to the Bonefish Grill reporting unit. In connection with this analysis, the Company determined that the Bonefish Grill reporting unit was impaired and $ 28.2 million of goodwill impairment was recorded to fully impair the goodwill of the reporting unit. Accrued and other current liabilities consisted of the following as of the periods indicated: (dollars in thousands) JUNE 28, 2026 DECEMBER 28, 2025 Accrued payroll and other compensation $ 71,637 $ 79,436 Accrued insurance 27,444 22,733 Other current liabilities 84,407 84,087 $ 183,488 $ 186,256 Long-term debt, net , consisted of the following as of the periods indicated: JUNE 28, 2026 DECEMBER 28, 2025 (dollars in thousands) OUTSTANDING BALANCE INTEREST RATE OUTSTANDING BALANCE INTEREST RATE Senior secured credit facility - revolving credit facility (1) $ 405,000 5.55 % $ 490,000 6.09 % 2029 Notes 300,000 5.13 % 300,000 5.13 % Long-term debt 705,000 790,000 Less: unamortized debt discount and issuance costs ( 2,212 ) ( 2,575 ) Long-term debt, net $ 702,788 $ 787,425 ________________ (1) Includes a maximum capacity of $ 1.2 billion and matures on September 19, 2029. Interest rate represents the weighted average interest rate as of the respective periods. Debt Covenants - As of June 28, 2026 and December 28, 2025, the Company was in compliance with its debt c ovenants. 14 Table of Contents BLOOMIN’ BRANDS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - Continued 8. Stockholders’ Equity Accumulated Other Comprehensive Income (“AOCI”) - The following table is a rollforward of the components of AOCI for the periods indicated: THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED (dollars in thousands) JUNE 28, 2026 JUNE 29, 2025 JUNE 28, 2026 JUNE 29, 2025 Foreign currency translation: Balance, beginning of the period $ 11,832 $ 3,023 $ 9,262 $ ( 212,172 ) Foreign currency translation adjustment - equity method investment 1,154 1,732 3,769 4,936 Foreign currency translation adjustment - other ( 7 ) ( 1 ) ( 52 ) ( 5,558 ) Reclassification of foreign currency translation adjustments into earnings due to sale of business — — — 217,548 Balance, end of the period $ 12,979 $ 4,754 $ 12,979 $ 4,754 Net gain (loss) on derivatives, net of tax: Balance, beginning of the period $ 1,494 $ ( 798 ) $ ( 154 ) $ ( 621 ) Change in fair value of derivatives, net of tax 490 263 1,962 63 Reclassification realized in Net income, net of tax ( 224 ) 27 ( 48 ) 50 Balance, end of the period $ 1,760 $ ( 508 ) $ 1,760 $ ( 508 ) Accumulated other comprehensive income: Balance beginning of the period $ 13,326 $ 2,225 $ 9,108 $ ( 212,793 ) Other comprehensive income attributable to Bloomin' Brands 1,413 2,021 5,631 217,039 Balance, end of the period $ 14,739 $ 4,246 $ 14,739 $ 4,246 9. Derivative Instruments and Hedging Activities Interest Rate Risk - The Company manages economic risks, including interest rate variability, primarily by managing the amount, sources and duration of its debt funding and through the use of derivative financial instruments. The Company’s objective in using interest rate derivatives is to manage its exposure to interest rate movements. To accomplish this objective, the Company uses interest rate swaps. Designated Hedges Cash Flow Hedges of Interest Rate Risk - To manage its exposure to fluctuations in variable interest rates, in March 2024 and December 2023, the Company entered into 11 interest rate swap agreements with ten counterparties with an aggregate notional amount of $ 375.0 million and one and two-year tenors (the “2023 and 2024 Swap Agreements”). The Company had $ 100.0 million of interest rate swap agreements mature on December 31, 2024 and December 31, 2025, respectively, and $ 175.0 million of interest rate swap agreements mature on March 31, 2026 . 15 Table of Contents BLOOMIN’ BRANDS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - Continued In October 2025, the Company entered into an additional eight interest rate swap agreements with eight counterparties with an aggregate notional amount of $ 300.0 million and 12 - and 21 -month tenors (the “2025 Swap Transactions”, together with the 2023 and 2024 Swap Agreements, the “Swap Transactions”). The following are the terms of the remaining Swap Transactions: NOTIONAL AMOUNT WEIGHTED AVERAGE FIXED INTEREST RATE (1) EFFECTIVE DATE TERMINATION DATE $ 100,000,000 3.37 % December 31, 2025 December 31, 2026 $ 200,000,000 3.18 % March 31, 2026 December 31, 2027 ____________________ (1) The weighted average fixed interest rate excludes the term SOFR adjustment and interest rate spread described below. In connection with the Swap Transactions, the Company effectively converted its outstanding indebtedness based on the notional amount from a variable rate of SOFR, plus a term SOFR adjustment of 0.10 % and a spread of 150 to 250 basis points, to the weighted average fixed interest rates within the table above, plus a term SOFR adjustment of 0.10 % and a spread of 150 to 250 basis points. The Swap Transactions have an embedded floor of minus 0.10 %. The Swap Transactions have been designated and qualify as cash flow hedges, are recognized on the Company’s Consolidated Balance Sheets at fair value and are classified based on the instruments’ maturity dates. The Company estimates $ 1.6 million of interest income will be reclassified from Accumulated Other Comprehensive Income to Interest expense, net over the next 12 months related to the outstanding Swap Transactions. The following table presents the fair value and classification of the Company’s Swap Transactions as of the periods indicated: (dollars in thousands) CONSOLIDATED BALANCE SHEETS CLASSIFICATION JUNE 28, 2026 DECEMBER 28, 2025 Interest rate swaps - asset Other current assets, net $ 1,495 $ 208 Interest rate swaps - asset Other assets, net 862 — Total fair value of derivative instruments - assets (1) $ 2,357 $ 208 Interest rate swaps - liability Accrued and other current liabilities $ — $ 330 Interest rate swaps - liability Other long-term liabilities, net — 87 Total fair value of derivative instruments - liabilities (1) $ — $ 417 ____________________ (1) See Note 8 - Stockholders’ Equity for interest rate swaps impact on AOCI and Note 11 - Fair Value Measurements for fair value discussion of the interest rate swaps. By utilizing the interest rate swaps, the Company is exposed to credit-related losses in the event that the counterparty fails to perform under the terms of the derivative contract. To mitigate this risk, the Company enters into derivative contracts with major financial institutions based upon credit ratings and other factors. The Company continually assesses the creditworthiness of its counterparties. As of June 28, 2026, all counterparties to the Swap Transactions performed in accordance with their contractual obligations. The Swap Transactions contain provisions whereby the Company could be declared in default on its derivative obligations if the repayment of the underlying indebtedness is accelerated by the lender due to the Company’s default on indebtedness. As of June 28, 2026 and December 28, 2025, the Company has not posted any collateral related to the Swap Transactions. The Company’s Swap Transactions are subject to master netting arrangements. As of June 28, 2026, the Company elected not to offset derivative positions in its Consolidated Balance Sheet with the same counterparty under the same agreement. 16 Table of Contents BLOOMIN’ BRANDS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - Continued Non-Designated Hedges The Company entered into foreign currency forward contracts to partially offset the foreign currency exchange gains and losses generated by the Brazilian Reais rate risk associated with the purchase price installment payments from the Brazil Sale Transaction. During the thirteen weeks ended December 28, 2025, the Company received the final installment payment related to the Brazil Sale Transaction and the foreign currency forward contracts matured. The followin g table summarizes the effects of the Company’s foreign exchange forward contracts on the Consolidated Statements of Operations and Comprehensive Income for the periods indicated: CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME CLASSIFICATION THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED (dollars in thousands) JUNE 29, 2025 JUNE 29, 2025 Loss on foreign currency forward contracts (1) General and administrative $ 8,461 $ 18,711 ____________________ (1) The loss on foreign currency forward contracts, which includes costs in connection with the forward contracts, is partially offset within General and administrative expense by foreign currency exchange gains of $ 6.2 million and $ 14.2 million for the thirteen and twenty-six weeks ended June 29, 2025, respectively, related to the installment receivable from the Brazil Sale Transaction. 10. Leases The following table includes a detail of lease assets and liabilities included on the Company’s Consolidated Balance Sheets as of the periods indicated: (dollars in thousands) CONSOLIDATED BALANCE SHEETS CLASSIFICATION JUNE 28, 2026 DECEMBER 28, 2025 Operating lease right-of-use assets Operating lease right-of-use assets $ 967,380 $ 979,270 Finance lease right-of-use assets (1) Property, fixtures and equipment, net 7,923 9,296 Total lease assets, net $ 975,303 $ 988,566 Current operating lease liabilities Current operating lease liabilities $ 176,821 $ 176,268 Current finance lease liabilities Accrued and other current liabilities 3,303 3,389 Non-current operating lease liabilities Non-current operating lease liabilities 1,033,036 1,046,380 Non-current finance lease liabilities Other long-term liabilities, net 6,493 7,890 Total lease liabilities $ 1,219,653 $ 1,233,927 ________________ (1) Net of accumulated amortization of $ 6.0 million and $ 5.4 million as of June 28, 2026 and December 28, 2025, respectively. 17 Table of Contents BLOOMIN’ BRANDS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - Continued Following is a summary of expenses and income related to leases recognized in the Company’s Consolidated Statements of Operations and Comprehensive Income for the periods indicated: CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME CLASSIFICATION THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED (dollars in thousands) JUNE 28, 2026 JUNE 29, 2025 JUNE 28, 2026 JUNE 29, 2025 Operating lease cost (1) Other restaurant operating $ 42,604 $ 42,623 $ 85,055 $ 84,928 Variable lease cost Other restaurant operating 913 1,294 2,086 2,486 Finance lease costs: Amortization of leased assets Depreciation and amortization 673 750 1,368 1,440 Interest on lease liabilities Interest expense, net 180 261 373 500 Sublease revenue Franchise and other revenues ( 1,681 ) ( 1,745 ) ( 3,155 ) ( 3,447 ) Lease costs, net $ 42,689 $ 43,183 $ 85,727 $ 85,907 ________________ (1) Excludes rent expense for office facilities and closed or subleased properties of $ 3.1 million and $ 3.4 million for the thirteen weeks ended June 28, 2026 and June 29, 2025, respectively, and $ 6.4 million and $ 7.0 million for the twenty-six weeks ended June 28, 2026 and June 29, 2025, respectively, which is included in General and administrative expense. The following table is a summary of supplemental information related to leases for the periods indicated: TWENTY-SIX WEEKS ENDED (dollars in thousands) JUNE 28, 2026 JUNE 29, 2025 Cash flows from operating activities: Cash paid for amounts included in the measurement of operating lease liabilities $ 92,334 $ 91,977 Leased assets obtained in exchange for new operating lease liabilities $ 32,956 $ 42,892 Leased assets obtained in exchange for new finance lease liabilities $ — $ 5,629 11. Fair Value Measurements Fair value is the price that would be received for an asset or paid to transfer a liability, or the exit price, in an orderly transaction between market participants on the measurement date. Fair value is categorized into one of the following three levels based on the lowest level of significant input: Level 1 Unadjusted quoted market prices in active markets for identical assets or liabilities Level 2 Observable inputs available at measurement date other than quoted prices included in Level 1 Level 3 Unobservable inputs that cannot be corroborated by observable market data Fair Value Measurements on a Recurring Basis - The following table summarizes the Company’s financial assets and liabilities measured at fair value by hierarchy level on a recurring basis as of the periods indicated: CONSOLIDATED BALANCE SHEETS CLASSIFICATION MEASUREMENT LEVEL FAIR VALUE (dollars in thousands) JUNE 28, 2026 DECEMBER 28, 2025 Assets: Short-term investments Cash and cash equivalents Level 1 $ 5,172 $ 5,597 Interest rate swaps Other current assets, net Level 2 $ 1,495 $ 208 Interest rate swaps Other assets, net Level 2 $ 862 $ — Liabilities: Interest rate swaps Accrued and other current liabilities Level 2 $ — $ 330 Interest rate swaps Other long-term liabilities Level 2 $ — $ 87 18 Table of Contents BLOOMIN’ BRANDS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - Continued Fair value of each class of financial instruments is determined based on the following: FINANCIAL INSTRUMENT METHODS AND ASSUMPTIONS Short-term investments Carrying value approximates fair value because maturities are less than three months. Derivative instruments Fair value measurements are based on the contractual terms of the derivatives and observable market-based inputs. The interest rate swaps are valued using a discounted cash flow analysis on the expected cash flows of each derivative using observable inputs including interest rate curves and credit spreads. The Company also considers its own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. As of June 28, 2026 and December 28, 2025, the Company determined that the credit valuation adjustments were not significant to the overall valuation of its derivatives. Interim Disclosures about Fair Value of Financial Instruments - The Company’s non-derivative financial instruments consist of cash equivalents, accounts receivable, accounts payable and long-term debt. The fair values of cash equivalents, accounts receivable, and accounts payable approximate their carrying amounts reported on the Company’s Consolidated Balance Sheets due to their short duration. Debt is carried at amortized cost; however, the Company estimates the fair value of debt for disclosure purposes. The following table includes the carrying value and fair value of the Company’s debt by hierarchy level as of the periods indicated: JUNE 28, 2026 DECEMBER 28, 2025 (dollars in thousands) CARRYING VALUE FAIR VALUE LEVEL 2 CARRYING VALUE FAIR VALUE LEVEL 2 Senior secured credit facility - revolving credit facility $ 405,000 $ 405,000 $ 490,000 $ 490,000 2029 Notes $ 300,000 $ 286,551 $ 300,000 $ 269,505 12. Income Taxes THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED (dollars in thousands) JUNE 28, 2026 JUNE 29, 2025 JUNE 28, 2026 JUNE 29, 2025 Income before benefit for income taxes $ 27,122 $ 18,951 $ 73,813 $ 64,995 Benefit for income taxes $ ( 6,672 ) $ ( 8,748 ) $ ( 16,963 ) $ ( 7,845 ) Effective income tax rate ( 24.6 ) % ( 46.2 ) % ( 23.0 ) % ( 12.1 ) % In the U.S., a restaurant company employer may claim a credit against its federal income taxes for FICA taxes paid on certain tipped wages (the “FICA Tax Credits”). The level of FICA Tax Credits is primarily driven by U.S. Restaurant sales and is not impacted by costs incurred that may reduce Income before benefit for income taxes. For the thirteen and twenty-six weeks ended June 28, 2026 and June 29, 2025, the Benefit for income taxes includes the benefit of FICA Tax Credits on certain tipped wages relative to forecasted full-year Income before benefit for income taxes. The Benefit for income taxes for the thirteen weeks ended June 28, 2026 is lower than the thirteen weeks ended June 29, 2025 due to the impact of changes to the estimate of forecasted annual Income before benefit for income taxes relative to the prior quarter and the benefit of FICA Tax Credits for the thirteen weeks ended June 29, 2025. The Benefit for income taxes for the twenty-six weeks ended June 28, 2026 is higher than the twenty-six weeks ended June 29, 2025, despite higher Income before benefit for income taxes, primarily due to lower forecasted full-year Income before benefit for income taxes in 2026 compared to 2025, which increased the relative benefit of the FICA Tax Credits. 19 Table of Contents BLOOMIN’ BRANDS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - Continued The effective income tax rate for the thirteen and twenty-six weeks ended June 28, 2026 and June 29, 2025 was lower than the Company’s blended federal and state statutory rate of approximately 26 % primarily due to the benefit of the FICA Tax Credits . The following table is a summary of cash paid for income taxes for the periods indicated: TWENTY-SIX WEEKS ENDED (dollars in thousands) JUNE 28, 2026 JUNE 29, 2025 Cash paid for income taxes, net of refunds (1) $ 4,353 $ 22,288 ________________ (1) The twenty-six weeks ended June 29, 2025 includes approximately $ 14.1 million of withholding taxes related to the first installment of the Brazil Sale Transaction. 13. Commitments and Contingencies Litigation and Other Matters - The Company had reserves of $ 5.0 million and $ 4.9 million for certain of its outstanding legal proceedings as of June 28, 2026 and December 28, 2025, respectively, within Accrued and other current liabilities on its Consolidated Balance Sheets. While the Company believes that additional losses beyond these accruals are reasonably possible, it cannot estimate a possible loss contingency or range of reasonably possible loss contingencies beyond these accruals. Lease Guarantees - The Company assigned its interest, and is contingently liable, under certain real estate leases, the latest of which expires in 2032. As of June 28, 2026, the undiscounted payments that the Company could be required to make in the event of non-payment by the primary lessees were $ 9.7 million. The present value of these potential payments discounted at the Company’s incremental borrowing rate as of June 28, 2026 was $ 7.9 million. As of June 28, 2026 and December 28, 2025, the Company’s recorded contingent lease liability was $ 1.6 million. 14. Segment Reporting The following is a summary of reportable segments: REPORTABLE SEGMENT CONCEPT GEOGRAPHIC LOCATION U.S. (1) Outback Steakhouse United States of America Carrabba’s Italian Grill Bonefish Grill Fleming’s Prime Steakhouse & Wine Bar International Franchise Outback Steakhouse 12 Franchise Markets Carrabba’s Italian Grill (Abbraccio) _________________ (1) Includes franchise locations. All other operating segments, which comprise the Company’s Hong Kong subsidiary and equity method investment in Brazil, do not meet the quantitative thresholds for determining reportable segments. Segment accounting policies are the same as those described in Note 1 - Summary of Significant Accounting Policies in the Company’s Annual Report on Form 10-K for the year ended December 28, 2025. Revenues for all segments include transactions with customers and royalties from franchisees. There were no material transactions among reportable segments. Excluded from Income from operations for U.S. are certain legal and corporate costs not directly related to the performance of the segment, most stock-based compensation expenses, a portion of insurance expenses and certain bonus expenses. 20 Table of Contents BLOOMIN’ BRANDS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - Continued Operating income is utilized by the Company’s Chief Operating Decision Maker (“CODM”) as the primary segment profit or loss measure to allocate resources in the planning and forecasting process and also to review operating performance by monitoring actual results versus prior year and forecasts. The following table is a summary of revenues by segment for the periods indicated: THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED (dollars in thousands) JUNE 28, 2026 JUNE 29, 2025 JUNE 28, 2026 JUNE 29, 2025 Revenues U.S. $ 998,632 $ 985,828 $ 2,041,085 $ 2,016,731 International Franchise 7,593 7,051 15,163 16,334 Total segment revenues 1,006,225 992,879 2,056,248 2,033,065 All other 9,584 9,487 19,234 18,895 Total revenues $ 1,015,809 $ 1,002,366 $ 2,075,482 $ 2,051,960 The following table presents segment operating income and significant segment expense information for the periods indicated: THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED (dollars in thousands) JUNE 28, 2026 JUNE 29, 2025 JUNE 28, 2026 JUNE 29, 2025 U.S. Total revenues $ 998,632 $ 985,828 $ 2,041,085 $ 2,016,731 Less: Food and beverage 303,392 295,414 617,767 605,726 Labor and other related 307,543 307,652 621,835 620,357 Other restaurant operating 249,522 247,446 502,891 501,055 Other expenses (1) 70,576 66,855 142,977 133,462 Total segment expenses 931,033 917,367 1,885,470 1,860,600 Income from operations $ 67,599 $ 68,461 $ 155,615 $ 156,131 International Franchise Total revenues (2) $ 7,593 $ 7,051 $ 15,163 $ 16,334 Less: Total segment expenses (1) 184 213 418 492 Income from operations $ 7,409 $ 6,838 $ 14,745 $ 15,842 Total segment Total revenues $ 1,006,225 $ 992,879 $ 2,056,248 $ 2,033,065 Less: Total segment expenses 931,217 917,580 1,885,888 1,861,092 Total segment income from operations $ 75,008 $ 75,299 $ 170,360 $ 171,973 _________________ (1) Includes Depreciation and amortization and General and administrative expense. The U.S. segment also includes Provision for impaired assets and restaurant closings. (2) The twenty-six weeks ended June 29, 2025 includes one month of pre-Brazil Sale Transaction intercompany royalties. 21 Table of Contents BLOOMIN’ BRANDS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - Continued The following table is a reconciliation of segment income from operations to Income before benefit for income taxes for the periods indicated: THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED (dollars in thousands) JUNE 28, 2026 JUNE 29, 2025 JUNE 28, 2026 JUNE 29, 2025 Total segment income from operations $ 75,008 $ 75,299 $ 170,360 $ 171,973 Unallocated corporate operating expense ( 37,385 ) ( 46,422 ) ( 74,113 ) ( 86,190 ) All other 640 773 1,119 1,098 Total income from operations 38,263 29,650 97,366 86,881 Interest expense, net ( 11,141 ) ( 10,699 ) ( 23,553 ) ( 21,886 ) Income before benefit for income taxes $ 27,122 $ 18,951 $ 73,813 $ 64,995 The following table is a summary of depreciation and amortization by segment for the periods indicated: THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED (dollars in thousands) JUNE 28, 2026 JUNE 29, 2025 JUNE 28, 2026 JUNE 29, 2025 Depreciation and amortization U.S. $ 43,774 $ 42,145 $ 87,808 $ 83,758 Corporate 2,175 2,205 4,276 4,289 All other 61 248 222 498 Total depreciation and amortization $ 46,010 $ 44,598 $ 92,306 $ 88,545 The following table is a summary of capital expenditures by segment, for the periods indicated: TWENTY-SIX WEEKS ENDED (dollars in thousands) JUNE 28, 2026 JUNE 29, 2025 Capital expenditures U.S. $ 67,206 $ 76,906 Corporate 1,904 7,380 All other 77 11 Total capital expenditures $ 69,187 $ 84,297 The following table sets forth Total assets by segment as of the periods i ndicated: (dollars in thousands) JUNE 28, 2026 DECEMBER 28, 2025 Assets U.S. $ 2,509,708 $ 2,598,842 International Franchise 104,739 105,237 Total segment assets 2,614,447 2,704,079 Corporate 416,816 387,573 All other 86,792 80,255 Total assets $ 3,118,055 $ 3,171,907 22 Table of Contents BLOOMIN’ BRANDS, INC. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS