Dear Fellow Shareholder,

I am excited to tell all of you about the great 2021 we have had at BIGB. I am thrilled to be
sharing this news with you seeing as this is my first time writing our annual shareholder letter as
the CEO of Big Burger. I want to thank Joseph M. Bones, the former president and CEO of
BIGB, for all his hardwork and dedication during his fifteen year tenure at BIGB. I am lucky to
have had him as a mentor. That being said, 2021 was a record year on all fronts for BIGB: sales,
net income and earnings per share (EPS). We are grateful to continue to be the nation’s leading
producer of beef, poultry and vegetarian burgers for commercial food service purveyors and
grocers.

In 2021 we were able to increase our share of the U.S. market by 10% which means we now
account for 50% of the US market share. We were able to accomplish this by getting contacts
with five additional grocery chains in the nation, two of which are top five chains in the country.
To accommodate for the increase in demand we recently opened a new beef and poultry
processing plant in New Mexico that has had a very smooth first three months of operations. In
addition to this positive news we have had growth in our revenue by 15% and beat our projected
EPS by 17%. We have confidence in our business and feel that we are in a good spot in relation
to this year's Income Statement, Balance Sheet and Statement of Cash Flows.

I can confidently say that we are off to a strong 2022. In February we made a $750 million
acquisition of Buns Unlimited. We made this move because we believed that it would diversify
our product offering to sell more to the company’s national network of commercial food service
purveyors and grocers. We have been able to offer a much greater selection of products to the
grocery stores we sell to. This has resulted in grocers dropping our rivals' products and instead
purchasing more of our products. In addition, we have a very strong relationship with Buns
Unlimited. They are operating as a wholly-owned subsidiary of BIGB and have maintained its
operational headquarters in Boise, Idaho. We have also welcomed all of the senior management
and employees to the BIGB family. We believe that this acquisition will be one of the biggest
ROIs in BIGB history.

Despite all our success in the past year we did run into a minor set back in January of 2022. We
issued a product recall of 100,000 pounds of ground beef burger patties with the date stamp of
January 2022 which came from our primary beef processing plant in Austin, Texas. After
discovering this quality problem with the product, BIGB immediately notified the U.S.
Department of Agriculture, USDA. We were able to swiftly solve this problem. We made sure
that there was no effect on the company’s poultry or vegetarian processing plants in Cedar
Rapids, Iowa and Ashville, North Carolina, respectively.
I really believe that with our acquisition Buns Unlimited that we will have a very strong 2022.
We have already experienced a strong start and are confident that it will carry through the rest of
the first quarter. In terms of our full year 2022 results we also project another strong year. With
the five additional grocery store contacts paired with the increased products we have been able to
sell due to our acquisition of Buns Unlimited, we are set up for a successful year.

Before I conclude I want to thank all the amazing BIGB employees who make this company as
successful as we are. We would not be where we are today without all of your hardwork and
dedication. In addition all of us at BIGB will do everything we can for the betterment of our
shareholders, employees, distributors, customers and every other stakeholder.

John R. Flank, March 31, 2022

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