FAT Brands Inc. and its subsidiaries (Debtors) commenced voluntary Chapter 11 bankruptcy cases on January 26, 2026, in the U.S. Bankruptcy Court for the Southern District of Texas. A mediated agreement, the Amended and Restated Stipulation and Agreed Order Regarding Mediated Agreement (Stipulation), was entered into on March 19, 2026, by the Debtors, Andrew Wiederhorn, an ad hoc group of securitization noteholders, Moelis & Company LLC, and the official committee of unsecured creditors. Andrew Wiederhorn, the Executive, took a temporary leave of absence from the Debtors, effective March 19, 2026, until the later of the sale of substantially all restaurant chains/franchise operations or consummation of a confirmed Chapter 11 plan. Andrew Wiederhorn will receive aggregate payments of up to $5.0 million, funded through the DIP Facilities, payable in installments through July 2026, in full satisfaction of the Company's obligations to him (subject to indemnification rights). All existing employment and related agreements between the Company and Andrew Wiederhorn terminated as of March 19, 2026. Andrew Wiederhorn's family members employed by the Company (Thayer Wiederhorn, Taylor Wiederhorn, and Mason Wiederhorn) were terminated as of March 19, 2026, and will receive accrued compensation. The Company's Board of Directors was reduced from fifteen to two persons, with Patrick Bartels and Neal Goldman (Special Committee Directors) remaining as the sole directors, vested with exclusive authority over restructuring and Chapter 11 cases. All other directors of FAT Brands Inc. and Twin Hospitality Group Inc. resigned, effective March 19, 2026. Moelis & Company LLC will withdraw its retention application, receive no further fees, and be indemnified by the Debtors. The Ad Hoc Group agreed to withdraw motions seeking a Chapter 11 trustee appointment and Andrew Wiederhorn's suspension. The Debtors obtained two senior secured superpriority debtor-in-possession (DIP) multiple draw term loan facilities, totaling up to approximately $307.6 million, effective March 25, 2026. The FBG DIP Facility provides up to $184.6 million ($46.1 million new money, $138.4 million roll-up of prepetition secured indebtedness). The Twin DIP Facility provides up to $123.0 million ($30.8 million new money, $92.3 million roll-up of prepetition secured indebtedness). Loans under each DIP Facility bear interest at 12.0% per annum, with a default rate of an additional 2.0% per annum. A backstop fee of 10.0% of new money commitments and an upfront fee of 2.5% of new money loans are capitalized into the principal amount. An exit fee of 2.5% of new money loans (cash) or 7.0% (capitalized) is applicable, excluding roll-up financing. The DIP Facility matures on the earliest of May 8, 2026 (subject to extension), the effective date of a Chapter 11 plan, consummation of an asset sale, or acceleration due to default. The DIP obligations are secured by liens on substantially all assets of the Loan Parties and hold superpriority administrative expense status under the Bankruptcy Code.