Portillos Expects To Close Underperforming Restaurants Totaling Mid-To-High Single Digit Number Outside Of Chicagoland, With Majority Occurring In Q4; Expects Analysis To Result In Material Cash & Non-Cash Charges Mostly In Q4

Planned Restaurant Closures

Portillo’s expects to close a mid-to-high single digit number of underperforming restaurants outside of Chicagoland, with the majority occurring in the fiscal fourth quarter of 2026. In making this determination, the Company evaluated each restaurant’s sales performance, restaurant-level margins, and projected operating performance. These actions are part of the Company's ongoing efforts to improve restaurant-level profitability, strengthen returns on invested capital and optimize its restaurant portfolio. The Company expects the analysis to result in material cash and non-cash charges mostly in the fiscal fourth quarter of 2026.