First Watch Restaurant Group, Inc.

Thank you for standing by and welcome to First Watch Restaurant Group, Inc.'s second quarter earnings conference call occurring today on August 4, 2026 at 8 a.m. Eastern Time. Please note that all participants are currently in a listen-only mode. Following the presentation, the conference will be open for analyst questions and instructions on how to ask a question will be given at that time. This call will be archived. and available for replay at investors.firstwatch.com under the news and events section. I would now like to turn the call over to Steven Marotta, Vice President of Investor Relations for First Watch to begin.

Hello, everyone.

I am joined by First Watch's Chief Executive Officer and President Chris Tomasso and Chief Financial Officer Ashlee Weisser. This morning, Firstwatch issued its earnings release for the second quarter of fiscal year 2026 on Globe Newswire and filed its quarterly report on Form 10-Q with the SEC. These documents can be found at investors.firstwatch.com. This conference call will include forward-looking statements that are subject to various risks and uncertainties that could cause the company's actual results to differ materially from these statements. The statements include, without limitation, statements concerning the conditions of the company's industry and its operations. Performance and Financial Outlook, Growth Plans and Strategies, and Future Expenses. Any such statement should be considered in conjunction with cautionary statements in the company's earnings release and the risk factor disclosures in the company's filings with the SEC, including our annual report on Form 10-K and quarterly reports on Form 10-Q. First Watch assumes no obligation to update these forward-looking statements, whether as a result of new information Future developments or otherwise accept as may be required by law. Lastly, management's remarks today will include references to various non-GAAP measures, including restaurant-level operating profits, restaurant-level operating profit margins, adjusted EBITDA, and adjusted EBITDA margins. Investors should review the reconciliation of these non-GAAP measures to compare all GAAP results contained in the company's earnings release file this morning. Any references to percentage growth when discussing the second quarter performance is a comparison to the second quarter of 2025, unless otherwise indicated. The format for today's call will begin with Chris, our Chief Executive Officer, who will provide a review of our operational highlights from the second quarter, as well as an overall overview of the business. Ashley, our Chief Financial Officer, will then discuss our financial results for the quarter and provide the outlook for the balance of 2026. Following these remarks, Chris and Ashley will jointly provide an update on our long-term targets before we open the call for questions. And with that, I will turn the call over to Chris. Thanks, Steve.