Jollibee Foods Corp.

COMPANY BACKGROUND

Started by its chairman, Tony Tan Caktiong, as an ice cream parlor in 1975, Jollibee Foods is now one of
Asia’s top quick-service restaurant chains by market value. Jollibee, the company’s flagship chain, has
become a household name in the Philippines Its other quick-service restaurant brands include Chowking,
which serves Asian cuisine; Greenwich, which does pizza; Red Ribbon, a bakery chain; and Mang Inasal,
where the specialty is grilled chicken. The company also owns the Philippines franchise rights for Burger
King.

Outside the Philippines, Jollibee Foods has affiliates that develop and operate international brands like
Yonghe King, Hong Zhuang Yuan, San Pin Wang and 12 Hotpot. It has restaurants in Brunei, China, Hong
Kong, Kuwait, Oman, Qatar, Saudi Arabia, Singapore, the U.S. and Vietnam.

The chains sell dishes that are prepared on-site and are based on original company recipes. The
restaurants use company-specified ingredients and supplies, and follow company standards and
procedures. Tan Caktiong, a chemical engineering graduate from the University of Santo Tomas in
Manila, in August stepped down as Jollibee CEO and was replaced by his brother Ernesto Tanmantiong