The Cheesecake Factory Incorporated Announces Major Strides Toward Eliminating Gestation Crates in Its Pork Supply

The Cheesecake Factory Incorporated (NASDAQ: CAKE) has announced progress toward its longstanding goal of eliminating gestation crates from its pork supply. As detailed in its recently published 2021 Corporate Social Responsibility Report, the company is projecting that it will transition 75% of its U.S. pork supply to be fully gestation crate-free by the end of 2022, accomplished through a unique partnership with its strategic suppliers.

Specifically, The Cheesecake Factory Incorporated has started aligning its contracted pork supply nationwide with standards which ban gestation crates during sows’ 16-week pregnancy cycles, and prohibit confining breeding sows to less than 24 square feet of usable floorspace per animal.

“The welfare of all animals throughout our supply chain is critically important to us,” said Megan Bloomer, Vice President of Sustainability for The Cheesecake Factory Incorporated. “We are on the path to eliminating gestation crates and thanks to our valued pork suppliers we are able to further improve the welfare of sows in our supply chain by aligning with these standards. We are working to reach 100% compliance for gestation crate-free.”

“By making such tremendous progress toward fully eliminating gestation crates, The Cheesecake Factory is once again showing its commitment to animal welfare,” said Josh Balk, Vice President of Farm Animal Protection for the Humane Society of the United States.

For further information on The Cheesecake Factory's animal welfare commitments and other CSR efforts, please visit https://www.thecheesecakefactory.com/corporate-social-responsibility/.

About The Cheesecake Factory Incorporated

The Cheesecake Factory is a leader in experiential dining. We are culinary forward and relentlessly focused on hospitality. Delicious, memorable experiences created by passionate people – this defines who we are and where we are going. We currently own and operate 307 restaurants throughout the United States and Canada under brands including The Cheesecake Factory, North Italia® and a collection within our Fox Restaurant Concepts business. Internationally, 29 The Cheesecake Factory restaurants operate under licensing agreements. Our bakery division operates two facilities that produce quality cheesecakes and other baked products for our restaurants, international licensees and third-party bakery customers. In 2022, we were named to the FORTUNE Magazine "100 Best Companies to Work For®" list for the ninth consecutive year. To learn more, visit www.thecheesecakefactory.com, www.northitalia.com and www.foxrc.com.

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About the Humane Society of the United States

Founded in 1954, the Humane Society of the United States fights the big fights to end suffering for all animals. Together with millions of supporters, we take on puppy mills, factory farms, trophy hunts, animal testing and other cruel industries. With our affiliates, we rescue and care for tens of thousands of animals every year through our animal rescue team’s work and other hands-on animal care services. We fight all forms of animal cruelty to achieve the vision behind our name: A humane society.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as codified in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, without limitation, statements regarding the company’s commitment to animal welfare, projecting that it will transition 75% of its U.S. pork supply to be fully gestation crate-free by the end of 2022, working to reach 100% compliance for gestation crate-free, and the company’s Corporate Social Responsibility Reports. Such forward-looking statements include all other statements that are not historical facts, as well as statements that are preceded by, followed by or that include words or phrases such as “believe,” “plan,” “will likely result,” “expect,” “intend,” “will continue,” “is anticipated,” “estimate,” “project,” “may,” “could,” “would,” “should” and similar expressions. These statements are based on current expectations and involve risks and uncertainties which may cause results to differ materially from those set forth in such statements. Investors are cautioned that forward-looking statements are not guarantees of future performance and that undue reliance should not be placed on such statements. These forward-looking statements may be affected by various factors including: the rapidly evolving nature of the COVID-19 pandemic and related containment measures, including the potential for a complete shutdown of the company’s restaurants, international licensee restaurants and the company’s bakery operations; supply chain disruptions; demonstrations, political unrest, potential damage to or closure of the company’s restaurants and potential reputational damage to the company or any of its brands; economic, public health and political conditions that impact consumer confidence and spending, including the impact of COVID-19 and other health epidemics or pandemics on the global economy; acceptance and success of The Cheesecake Factory in international markets; acceptance and success of North Italia and the Fox Restaurant Concepts restaurants, Social Monk Asian Kitchen and other concepts; the risks of doing business abroad through company-owned restaurants and/or licensees; foreign exchange rates, tariffs and cross border taxation; changes in unemployment rates; changes in laws impacting the company’s business, including laws and regulations related to COVID-19 impacting restaurant operations and customer access to off- and on-premise dining; increases in minimum wages and benefit costs; the economic health of the company’s landlords and other tenants in retail centers in which its restaurants are located, and the company’s ability to successfully manage its lease arrangements with landlords; unanticipated costs that may arise in connection with a return to normal course of business, including potential negative impacts from furlough actions; the economic health of suppliers, licensees, vendors and other third parties providing goods or services to the company; the timing of new unit development; compliance with debt covenants; strategic capital allocation decisions including any share repurchases or dividends; the ability to achieve projected financial results; economic and political conditions that impact consumer confidence and spending; the resolution of uncertain tax positions with the Internal Revenue Service and the impact of tax reform legislation; adverse weather conditions in regions in which the company’s restaurants are located; factors that are under the control of government agencies, landlords and other third parties; the risks, costs and uncertainties associated with opening new restaurants; and other risks and uncertainties detailed from time to time in the company’s filings with the Securities and Exchange Commission (“SEC”). Forward-looking statements speak only as of the dates on which they are made and the company undertakes no obligation to publicly update or revise any forward-looking statements or to make any other forward-looking statements, whether as a result of new information, future events or otherwise, unless required to do so by law. Investors are referred to the full discussion of risks and uncertainties associated with forward-looking statements and the discussion of risk factors contained in the company’s latest Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K as filed with the SEC, which are available at www.sec.gov.

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