Chuy : Q1 2023 Investor Presentation

Chuy's Holdings, Inc.

Q1 2023

Investor Presentation

CAUTIONARY STATEMENT

Forward-Looking Statements

This presentation may include forward-looking statements. These statements reflect the current views of the Company's senior management with respect to future events and financial performance. These statements include forward-looking statements with respect to the Company's business and industry in general. Statements that include the words "expect," "intend," "plan," "believe," "project," "forecast," "estimate," "may," "should," "anticipate" and similar statements of a future or forward-looking nature identify forward-looking statements for purposes of the federal securities laws or otherwise. Forward-looking statements address matters that involve risks and uncertainties. Accordingly, there are or will be important factors that could cause the Company's actual results to differ materially from those indicated in these statements. The statements made herein speak only as of the date of this presentation.

Non-GAAP Financial Measures

This presentation contains certain non-GAAP financial measures. A "non-GAAP financial measure" is defined as a numerical measure of a company's financial performance that excludes or includes amounts so as to be different than the most directly comparable measure calculated and presented in accordance with GAAP in the statements of income, balance sheets or statements of cash flow of the Company. The Company has provided a reconciliation of non-GAAP financial measures to the most directly comparable financial measure in the Appendix to this presentation. The non-GAAP financial measures used within this presentation are Adjusted EBITDA and Restaurant-Level Operating Margin. These measures are presented because management uses this information to monitor and evaluate financial results and trends and believes this information to also be useful for investors. For additional information about our non-GAAP financial measures, see our earnings releases and filings with the Securities and Exchange Commission.

1

PRESENTERS

Steve Hislop

President of Chief Executive Officer

Jon Howie

Vice President and Chief Financial

Natalie Harden

Vice President of Finance and Investor Relations

2

CHUY'S HIGHLIGHTS

Fresh, Authentic Mexican and Tex-Mex Inspired Cuisine

Considerable Dining Value and Broad Customer Appeal

Upbeat Atmosphere Coupled with Irreverent Brand Helps Differentiate Concept

Flexible Business Model with Industry Leading Unit

Strong Balance Sheet

Deep Rooted and Inspiring Company Culture

3

INDUSTRY LEADING OPERATING METRICS

Comparable restaurant base generated 18.4% of LTM restaurant-level operating margin

Comparable restaurant base generated LTM average unit volumes of $4.4 million

• Highest volume restaurant had LTM sales of $10.0 million
• Serve approximately 240,000 customers per location per year, on average

Average Unit Volume ($Millions)

$10.0	Full-Service Mexican Concepts	Select Best-in-Class Concepts
$8.0
$6.7		$7.0
$6.0			$5.9
$4.4		$5.1
		$3.9
$4.0	$3.4	$3.4
$2.4
$2.0
$0.0

4

Source: Based on Company 2022 Filings and Technomic Industry Report as of most recent available fiscal year and estimates. Chuy's based on latest filed LTM period.