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Cracker Barrel Urges Shareholders To Reject Nominations Of Biglari And Cooley To Board Of Directors

We believe Mr. Biglari and Mr. Cooley are wrong for Cracker Barrel’s Board and their election could jeopardize the powerful momentum we have built in the past year.

PROVEN DELIVERY OF SIGNIFICANT SHAREHOLDER VALUE IN 2012 THAT OUTPACED OUR COMPETITORS

Delivering value that benefits all our shareholders is our overriding focus. I am proud to have served as CEO during the past year, a time of significant achievements. To that end, we are pleased that the stock market has recognized our progress since the announcement of our six strategic priorities on September 13, 2011, with a 68.4% appreciation in the value of our shares through September 28, 2012. These gains are substantially higher than those of our peer group and the overall market, as shown in this chart:

 

12-Sep-2011 to 28-Sep-2012

         

Total Percentage Share Price Appreciation

Cracker Barrel         68.4%
S&P 500 Restaurant Index         15.4
S&P 600 Restaurant Index         35.1
S&P 1500 Restaurant Index         17.8
S&P 500 Index         24.0
       

We have also increased our quarterly dividend 100% over the last year and continued our share buyback program as we strive to find additional ways to deliver value on your investment.

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