NASDAQ_TXRH_2019

Serving our

communities

Across

AMERICA

Partners,

We had no idea two months ago when

we released earnings and drafted our

Shareholder Letter that our nation

and the world would be turned upside

down due to the COVID-19/Coronavirus

pandemic. There is no doubt that our

industry has changed drastically and

there is still much we do not know, which

is why we have withdrawn our financial

guidance for 2020.

But take note that there is also a lot

that we do know. We know that we have

the best operators in the world and

when times are tough, they fight.

They fight to help feed America, whether

it’s in our restaurants, To-Go, Curbside,

or Family Value Packs. Our goal is always

to take care of our people, our guests,

and the communities in which we live

and work. That fighting spirit is why we

have had 40 consecutive quarters of same

store sales growth over the past 10 years.

In short, at Texas Roadhouse, where

there is a will there is a way. During

this ever-changing time, our Managing

Partners have found phenomenal ways

to feed their communities and keep the

doors open.

They rolled up their sleeves and literally

converted their sit-down restaurants into

a To-Go/Curbside model in just a matter

of days. It is nothing short of amazing

that our operators overhauled their

restaurants to go from less than 10% of

their sales through To-Go a few weeks

ago to nearly 100% of their sales through

Curbside, To-Go, and Carryout because

their dining rooms are temporarily closed.

Some created single drive-thrus, some

have double drive-thrus, most created

Family Value Packs, and some even sold

bulk food where there were community

shortages and allowed by the state.

They all had different strategies, but

what they all have in common is their

commitment to serving their communities

and not giving up.

That’s what owner/operators do. I have

never been prouder in my life of our

team of people who are working

around the clock to keep feeding

America. I am confident that

when you have the best

people and give them the

freedom to operate, then

they will not only survive,

they will thrive. Thank you

for your trust and support of

Texas Roadhouse!

Revised^

March^25

, 2020

2999_Frt_Ins.indd 1 3/24/20 11:14 PM