Dine Brands Global, Inc. (DIN) Presents at Piper Sandler 5th Annual Growth Frontiers Conference Transcript

Dine Brands Global, Inc. ( DIN ) Piper Sandler 5th Annual Growth Frontiers Conference September 15, 2026 3:30 PM EDT Company Participants John Peyton - CEO, Applebee’s President & Director Vance Chang - Chief Financial Officer Conference Call Participants Brian Mullan - Piper Sandler & Co., Research Division Presentation Brian Mullan Piper Sandler & Co., Research Division All right. Thanks for being here. My name is Brian Mullan. I'm the restaurant and food distribution analyst here at Piper Sandler. We're very pleased to have the team from Dine Brands. We've got CEO, John Peyton; and CFO, Vance Chang. We've also got members from the IR team in the audience. Thank you, guys, for being here. Question-and-Answer Session Brian Mullan Piper Sandler & Co., Research Division Just want to start with IHOP. Brand got a new leader in January of '25, right, with Lawrence Kim, been a little over 1.5 years. A bit of an open-ended question for you. But John, it would be great to get your perspective. How have you seen the brand evolve in that time? What lies ahead on the priority list for the stand-alone brand? And I ask that in the context of 3 really solid quarters of outperformance in a row in Black Box to traffic. And so we just would love to hear your big-picture thoughts on that stand-alone, and we'll get to the dual later. John Peyton CEO, Applebee’s President & Director Got it. So IHOP welcomed Lawrence Kim, who came in as President 2 years ago. He has a long career -- had a long career at Yum! Brands and Taco Bell. So we were attracted by his Taco Bell pedigree as well as strong marketing, digital, social. And what you're seeing now in the last couple of quarters of IHOP outperforming Black Box in traffic and most recently in comps is the fruits