SHAK

SEC source: 0001140361-16-079844 · doc1.xml · nonDerivative · entry 4

Select Equity Group, L.P. · CIK 0001592643 · Director · See Remarks

SEG PARTNERS L P · CIK 0001060793 · Director · See Remarks

SEG Partners Offshore Master Fund, Ltd. · CIK 0001632171 · Director · See Remarks

SEG PARTNERS II L P · CIK 0001215218 · Director · See Remarks

Loening George S · CIK 0001632169 · Director · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 53,944

F1 · ownership.nature: See Exhibit 99.1.

F2 · ownership.nature: See Exhibit 99.1.

SEC source: 0001140361-16-079844 · doc1.xml · nonDerivative · entry 3

Select Equity Group, L.P. · CIK 0001592643 · Director · See Remarks

SEG PARTNERS L P · CIK 0001060793 · Director · See Remarks

SEG Partners Offshore Master Fund, Ltd. · CIK 0001632171 · Director · See Remarks

SEG PARTNERS II L P · CIK 0001215218 · Director · See Remarks

Loening George S · CIK 0001632169 · Director · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 213,581

F1 · ownership.nature: See Exhibit 99.1.

F4 · ownership.nature: See Exhibit 99.1.

SEC source: 0001140361-16-079844 · doc1.xml · nonDerivative · entry 2

Select Equity Group, L.P. · CIK 0001592643 · Director · See Remarks

SEG PARTNERS L P · CIK 0001060793 · Director · See Remarks

SEG Partners Offshore Master Fund, Ltd. · CIK 0001632171 · Director · See Remarks

SEG PARTNERS II L P · CIK 0001215218 · Director · See Remarks

Loening George S · CIK 0001632169 · Director · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 640,416

F1 · ownership.nature: See Exhibit 99.1.

F3 · ownership.nature: See Exhibit 99.1.

SEC source: 0001140361-16-079844 · doc1.xml · nonDerivative · entry 1

Select Equity Group, L.P. · CIK 0001592643 · Director · See Remarks

SEG PARTNERS L P · CIK 0001060793 · Director · See Remarks

SEG Partners Offshore Master Fund, Ltd. · CIK 0001632171 · Director · See Remarks

SEG PARTNERS II L P · CIK 0001215218 · Director · See Remarks

Loening George S · CIK 0001632169 · Director · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 55,119

F1 · ownership.nature: See Exhibit 99.1.

F2 · ownership.nature: See Exhibit 99.1.

SEC source: 0001140361-16-079390 · doc1.xml · nonDerivative · entry 9

Select Equity Group, L.P. · CIK 0001592643 · Director · See Remarks

SEG PARTNERS L P · CIK 0001060793 · Director · See Remarks

SEG Partners Offshore Master Fund, Ltd. · CIK 0001632171 · 10% owner · See Remarks

SEG PARTNERS II L P · CIK 0001215218 · Director · See Remarks

Loening George S · CIK 0001632169 · Director · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 217,851

F1 · ownership.nature: See Exhibit 99.1.

F4 · ownership.nature: See Exhibit 99.1.

SEC source: 0001140361-16-079390 · doc1.xml · nonDerivative · entry 8

Select Equity Group, L.P. · CIK 0001592643 · Director · See Remarks

SEG PARTNERS L P · CIK 0001060793 · Director · See Remarks

SEG Partners Offshore Master Fund, Ltd. · CIK 0001632171 · 10% owner · See Remarks

SEG PARTNERS II L P · CIK 0001215218 · Director · See Remarks

Loening George S · CIK 0001632169 · Director · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 646,976

F1 · ownership.nature: See Exhibit 99.1.

F3 · ownership.nature: See Exhibit 99.1.

SEC source: 0001140361-16-079390 · doc1.xml · nonDerivative · entry 7

Select Equity Group, L.P. · CIK 0001592643 · Director · See Remarks

SEG PARTNERS L P · CIK 0001060793 · Director · See Remarks

SEG Partners Offshore Master Fund, Ltd. · CIK 0001632171 · 10% owner · See Remarks

SEG PARTNERS II L P · CIK 0001215218 · Director · See Remarks

Loening George S · CIK 0001632169 · Director · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 56,289

F1 · ownership.nature: See Exhibit 99.1.

F2 · ownership.nature: See Exhibit 99.1.

SEC source: 0001620533-16-000266 · wf-form4_147388638676486.xml · nonDerivative · entry 1

Flug Jeffrey · CIK 0001396917 · Director · 10% owner

GULF FIVE LLC · CIK 0001633992 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · BY LLC

Disclosed balance after: 63,191

F1 · price: The transaction was executed in multiple trades at prices ranging from $35.5001 to $35.6100. The price reported above reflects the weighted average sales price.

F2 · price: The Reporting Person hereby undertakes to provide upon request to the SEC Staff, Shake Shack Inc. (the "Issuer") or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected.

F3 · ownership.nature: Represents shares of Class A common stock ("Class A Stock") of the Issuer held by Gulf Five LLC. The Reporting Person disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.

SEC source: 0001209191-16-140639 · doc4.xml · nonDerivative · entry 15

Green Equity Investors VI, L.P. · CIK 0001531051 · Director · 10% owner

Green Equity Investors Side VI, L.P. · CIK 0001531059 · Director · 10% owner

GEI Capital VI, LLC · CIK 0001632071 · Director · 10% owner

Green VI Holdings, LLC · CIK 0001632074 · Director · 10% owner

LGP MANAGEMENT INC · CIK 0001175525 · Director · 10% owner

LEONARD GREEN PARTNERS LP · CIK 0001175523 · Director · 10% owner

PERIDOT COINVEST MANAGER LLC · CIK 0001632725 · Director · 10% owner

LGP Malted Coinvest LLC · CIK 0001568925 · Director · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,890,822

F10 · shares: Represents shares sold by GEI Side VI.

F16 · price: This transaction was executed in multiple trades at prices ranging from $35.77 to $36.57. The price reported above reflects the weighted average sale price. The Reporting Persons hereby undertake to provide upon request to the SEC staff, the Issuer, or a security holder of the Issuer full information regarding the number of Shares and prices at which the trades were effected.

F11 · balance_after: Represents shares owned by GEI Side VI.

F4 · ownership.direct: GEI Capital VI, LLC ("Capital") is the general partner of GEI VI and Green Equity Investors Side VI, L.P. ("GEI Side VI"). Green VI Holdings, LLC ("Holdings") is a limited partner of GEI VI. Leonard Green & Partners, L.P. ("LGP") is the management company of GEI VI and GEI Side VI, and an affiliate of Capital and Holdings. Peridot Coinvest Manager LLC ("Peridot") is the management company of LGP Malted Coinvest LLC ("Malted"), and an affiliate of Capital and Holdings. LGP Management, Inc. ("LGPM") is the general partner of LGP.

F5 · ownership.direct: Each of GEI VI, GEI Side VI, Malted, Peridot, LGP, LGPM, Capital, and Holdings, directly (whether through ownership or position), or indirectly through one or more intermediaries, may be deemed for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, to be the indirect beneficial owner of some or all of the A-Common owned by GEI VI, GEI Side VI, or Malted, or the shares of Class B Common Stock, par value $0.001 per share ("B-Common") and limited liability company interests (the "LLC Interests") of SSE Holdings, LLC owned by GEI VI and Malted (collectively, the "Equity Interests") and, therefore, a "ten percent holder" hereunder.

F12 · ownership.direct: Each of GEI VI, Malted, Peridot, LGP, LGPM, Capital, and Holdings disclaims beneficial ownership of the Equity Interests reported on this row, except to the extent of its pecuniary interest therein, and, with respect to GEI Side VI, except to the extent of its direct ownership reported herein, and this report shall not otherwise be deemed an admission that the Reporting Persons are the beneficial owners of such securities for purposes of Section 16 or for any other purposes.

SEC source: 0001209191-16-140639 · doc4.xml · nonDerivative · entry 14

Green Equity Investors VI, L.P. · CIK 0001531051 · Director · 10% owner

Green Equity Investors Side VI, L.P. · CIK 0001531059 · Director · 10% owner

GEI Capital VI, LLC · CIK 0001632071 · Director · 10% owner

Green VI Holdings, LLC · CIK 0001632074 · Director · 10% owner

LGP MANAGEMENT INC · CIK 0001175525 · Director · 10% owner

LEONARD GREEN PARTNERS LP · CIK 0001175523 · Director · 10% owner

PERIDOT COINVEST MANAGER LLC · CIK 0001632725 · Director · 10% owner

LGP Malted Coinvest LLC · CIK 0001568925 · Director · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 23,627

F7 · shares: Represents shares sold by Malted.

F16 · price: This transaction was executed in multiple trades at prices ranging from $35.77 to $36.57. The price reported above reflects the weighted average sale price. The Reporting Persons hereby undertake to provide upon request to the SEC staff, the Issuer, or a security holder of the Issuer full information regarding the number of Shares and prices at which the trades were effected.

F8 · balance_after: Represents shares owned by Malted.

F4 · ownership.direct: GEI Capital VI, LLC ("Capital") is the general partner of GEI VI and Green Equity Investors Side VI, L.P. ("GEI Side VI"). Green VI Holdings, LLC ("Holdings") is a limited partner of GEI VI. Leonard Green & Partners, L.P. ("LGP") is the management company of GEI VI and GEI Side VI, and an affiliate of Capital and Holdings. Peridot Coinvest Manager LLC ("Peridot") is the management company of LGP Malted Coinvest LLC ("Malted"), and an affiliate of Capital and Holdings. LGP Management, Inc. ("LGPM") is the general partner of LGP.

F5 · ownership.direct: Each of GEI VI, GEI Side VI, Malted, Peridot, LGP, LGPM, Capital, and Holdings, directly (whether through ownership or position), or indirectly through one or more intermediaries, may be deemed for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, to be the indirect beneficial owner of some or all of the A-Common owned by GEI VI, GEI Side VI, or Malted, or the shares of Class B Common Stock, par value $0.001 per share ("B-Common") and limited liability company interests (the "LLC Interests") of SSE Holdings, LLC owned by GEI VI and Malted (collectively, the "Equity Interests") and, therefore, a "ten percent holder" hereunder.

F9 · ownership.direct: Each of GEI VI, GEI Side VI, Peridot, LGP, LGPM, Capital, and Holdings disclaims beneficial ownership of the Equity Interests reported on this row, except to the extent of its pecuniary interest therein, and, with respect to Malted, except to the extent of its direct ownership reported herein, and this report shall not otherwise be deemed an admission that the Reporting Persons are the beneficial owners of such securities for purposes of Section 16 or for any other purposes.

SEC source: 0001209191-16-140639 · doc4.xml · nonDerivative · entry 13

Green Equity Investors VI, L.P. · CIK 0001531051 · Director · 10% owner

Green Equity Investors Side VI, L.P. · CIK 0001531059 · Director · 10% owner

GEI Capital VI, LLC · CIK 0001632071 · Director · 10% owner

Green VI Holdings, LLC · CIK 0001632074 · Director · 10% owner

LGP MANAGEMENT INC · CIK 0001175525 · Director · 10% owner

LEONARD GREEN PARTNERS LP · CIK 0001175523 · Director · 10% owner

PERIDOT COINVEST MANAGER LLC · CIK 0001632725 · Director · 10% owner

LGP Malted Coinvest LLC · CIK 0001568925 · Director · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 394,533

F1 · shares: Represents shares of Class A common stock, par value $0.001 per share ("A-Common") of the Issuer sold by Green Equity Investors VI, L.P. ("GEI VI").

F16 · price: This transaction was executed in multiple trades at prices ranging from $35.77 to $36.57. The price reported above reflects the weighted average sale price. The Reporting Persons hereby undertake to provide upon request to the SEC staff, the Issuer, or a security holder of the Issuer full information regarding the number of Shares and prices at which the trades were effected.

F3 · balance_after: Represents shares owned by GEI VI.

F4 · ownership.direct: GEI Capital VI, LLC ("Capital") is the general partner of GEI VI and Green Equity Investors Side VI, L.P. ("GEI Side VI"). Green VI Holdings, LLC ("Holdings") is a limited partner of GEI VI. Leonard Green & Partners, L.P. ("LGP") is the management company of GEI VI and GEI Side VI, and an affiliate of Capital and Holdings. Peridot Coinvest Manager LLC ("Peridot") is the management company of LGP Malted Coinvest LLC ("Malted"), and an affiliate of Capital and Holdings. LGP Management, Inc. ("LGPM") is the general partner of LGP.

F5 · ownership.direct: Each of GEI VI, GEI Side VI, Malted, Peridot, LGP, LGPM, Capital, and Holdings, directly (whether through ownership or position), or indirectly through one or more intermediaries, may be deemed for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, to be the indirect beneficial owner of some or all of the A-Common owned by GEI VI, GEI Side VI, or Malted, or the shares of Class B Common Stock, par value $0.001 per share ("B-Common") and limited liability company interests (the "LLC Interests") of SSE Holdings, LLC owned by GEI VI and Malted (collectively, the "Equity Interests") and, therefore, a "ten percent holder" hereunder.

F6 · ownership.direct: Each of GEI Side VI, Malted, Peridot, LGP, LGPM, Capital, and Holdings disclaims beneficial ownership of the Equity Interests reported on this row, except to the extent of its pecuniary interest therein, and, with respect to GEI VI, except to the extent of its direct ownership reported herein, and this report shall not otherwise be deemed an admission that the Reporting Persons are the beneficial owners of such securities for purposes of Section 16 or for any other purposes.

SEC source: 0001209191-16-140633 · doc4.xml · nonDerivative · entry 5

SOKOLOFF JONATHAN D · CIK 0001175522 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 2,308,982

F14 · shares: Represents shares of A-Common sold by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common sold, 29,959 were sold by GEI VI, 17,855 were sold by GEI Side VI, and 2,186 were sold by Malted.

F15 · price: This transaction was executed in multiple trades at prices ranging from $35.77 to $36.57. The price reported above reflects the weighted average sale price. Mr. Sokoloff hereby undertakes to provide upon request to the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of Shares and prices at which the trades were effected.

F16 · balance_after: Represents shares owned by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common reported, 394,533 are owned by GEI VI, 1,890,822 are owned by GEI Side VI, and 23,627 are owned by Malted.

F4 · ownership.nature: Mr. Sokoloff directly (whether through ownership or position), or indirectly through one or more intermediaries, may be deemed for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, to be the indirect beneficial owner of the shares owned by GEI VI, GEI Side VI, and Malted. Mr. Sokoloff disclaims beneficial ownership of the shares owned by each of GEI VI, GEI Side VI, and Malted, except to the extent of his pecuniary interest in GEI VI and GEI Side VI, and this report shall not otherwise be deemed an admission that he is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

SEC source: 0001620533-16-000264 · wf-form4_147337323775610.xml · nonDerivative · entry 4

Flug Jeffrey · CIK 0001396917 · Director · 10% owner

GULF FIVE LLC · CIK 0001633992 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · BY LLC

Disclosed balance after: 64,091

F2 · price: The Reporting Person hereby undertakes to provide upon request to the SEC staff, Shake Shack Inc. (the "Issuer") or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected.

F6 · price: The transaction was executed in multiple trades at prices ranging from $36.2500 to $36.5600. The price reported above reflects the weighted average sales price.

F3 · ownership.nature: Represents shares of Class A common stock ("Class A Stock") of the Issuer held by Gulf Five LLC. The Reporting Person disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.

SEC source: 0001140361-16-079390 · doc1.xml · nonDerivative · entry 6

Select Equity Group, L.P. · CIK 0001592643 · Director · See Remarks

SEG PARTNERS L P · CIK 0001060793 · Director · See Remarks

SEG Partners Offshore Master Fund, Ltd. · CIK 0001632171 · 10% owner · See Remarks

SEG PARTNERS II L P · CIK 0001215218 · Director · See Remarks

Loening George S · CIK 0001632169 · Director · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 222,126

F1 · ownership.nature: See Exhibit 99.1.

F4 · ownership.nature: See Exhibit 99.1.

SEC source: 0001140361-16-079390 · doc1.xml · nonDerivative · entry 5

Select Equity Group, L.P. · CIK 0001592643 · Director · See Remarks

SEG PARTNERS L P · CIK 0001060793 · Director · See Remarks

SEG Partners Offshore Master Fund, Ltd. · CIK 0001632171 · 10% owner · See Remarks

SEG PARTNERS II L P · CIK 0001215218 · Director · See Remarks

Loening George S · CIK 0001632169 · Director · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 653,526

F1 · ownership.nature: See Exhibit 99.1.

F3 · ownership.nature: See Exhibit 99.1.

SEC source: 0001140361-16-079390 · doc1.xml · nonDerivative · entry 4

Select Equity Group, L.P. · CIK 0001592643 · Director · See Remarks

SEG PARTNERS L P · CIK 0001060793 · Director · See Remarks

SEG Partners Offshore Master Fund, Ltd. · CIK 0001632171 · 10% owner · See Remarks

SEG PARTNERS II L P · CIK 0001215218 · Director · See Remarks

Loening George S · CIK 0001632169 · Director · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 57,464

F1 · ownership.nature: See Exhibit 99.1.

F2 · ownership.nature: See Exhibit 99.1.

SEC source: 0001209191-16-140639 · doc4.xml · nonDerivative · entry 12

Green Equity Investors VI, L.P. · CIK 0001531051 · Director · 10% owner

Green Equity Investors Side VI, L.P. · CIK 0001531059 · Director · 10% owner

GEI Capital VI, LLC · CIK 0001632071 · Director · 10% owner

Green VI Holdings, LLC · CIK 0001632074 · Director · 10% owner

LGP MANAGEMENT INC · CIK 0001175525 · Director · 10% owner

LEONARD GREEN PARTNERS LP · CIK 0001175523 · Director · 10% owner

PERIDOT COINVEST MANAGER LLC · CIK 0001632725 · Director · 10% owner

LGP Malted Coinvest LLC · CIK 0001568925 · Director · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,908,677

F10 · shares: Represents shares sold by GEI Side VI.

F15 · price: This transaction was executed in multiple trades at prices ranging from $36.75 to $37.08. The price reported above reflects the weighted average sale price. The Reporting Persons hereby undertake to provide upon request to the SEC staff, the Issuer, or a security holder of the Issuer full information regarding the number of Shares and prices at which the trades were effected.

F11 · balance_after: Represents shares owned by GEI Side VI.

F4 · ownership.direct: GEI Capital VI, LLC ("Capital") is the general partner of GEI VI and Green Equity Investors Side VI, L.P. ("GEI Side VI"). Green VI Holdings, LLC ("Holdings") is a limited partner of GEI VI. Leonard Green & Partners, L.P. ("LGP") is the management company of GEI VI and GEI Side VI, and an affiliate of Capital and Holdings. Peridot Coinvest Manager LLC ("Peridot") is the management company of LGP Malted Coinvest LLC ("Malted"), and an affiliate of Capital and Holdings. LGP Management, Inc. ("LGPM") is the general partner of LGP.

F5 · ownership.direct: Each of GEI VI, GEI Side VI, Malted, Peridot, LGP, LGPM, Capital, and Holdings, directly (whether through ownership or position), or indirectly through one or more intermediaries, may be deemed for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, to be the indirect beneficial owner of some or all of the A-Common owned by GEI VI, GEI Side VI, or Malted, or the shares of Class B Common Stock, par value $0.001 per share ("B-Common") and limited liability company interests (the "LLC Interests") of SSE Holdings, LLC owned by GEI VI and Malted (collectively, the "Equity Interests") and, therefore, a "ten percent holder" hereunder.

F12 · ownership.direct: Each of GEI VI, Malted, Peridot, LGP, LGPM, Capital, and Holdings disclaims beneficial ownership of the Equity Interests reported on this row, except to the extent of its pecuniary interest therein, and, with respect to GEI Side VI, except to the extent of its direct ownership reported herein, and this report shall not otherwise be deemed an admission that the Reporting Persons are the beneficial owners of such securities for purposes of Section 16 or for any other purposes.

SEC source: 0001209191-16-140639 · doc4.xml · nonDerivative · entry 11

Green Equity Investors VI, L.P. · CIK 0001531051 · Director · 10% owner

Green Equity Investors Side VI, L.P. · CIK 0001531059 · Director · 10% owner

GEI Capital VI, LLC · CIK 0001632071 · Director · 10% owner

Green VI Holdings, LLC · CIK 0001632074 · Director · 10% owner

LGP MANAGEMENT INC · CIK 0001175525 · Director · 10% owner

LEONARD GREEN PARTNERS LP · CIK 0001175523 · Director · 10% owner

PERIDOT COINVEST MANAGER LLC · CIK 0001632725 · Director · 10% owner

LGP Malted Coinvest LLC · CIK 0001568925 · Director · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 25,813

F7 · shares: Represents shares sold by Malted.

F15 · price: This transaction was executed in multiple trades at prices ranging from $36.75 to $37.08. The price reported above reflects the weighted average sale price. The Reporting Persons hereby undertake to provide upon request to the SEC staff, the Issuer, or a security holder of the Issuer full information regarding the number of Shares and prices at which the trades were effected.

F8 · balance_after: Represents shares owned by Malted.

F4 · ownership.direct: GEI Capital VI, LLC ("Capital") is the general partner of GEI VI and Green Equity Investors Side VI, L.P. ("GEI Side VI"). Green VI Holdings, LLC ("Holdings") is a limited partner of GEI VI. Leonard Green & Partners, L.P. ("LGP") is the management company of GEI VI and GEI Side VI, and an affiliate of Capital and Holdings. Peridot Coinvest Manager LLC ("Peridot") is the management company of LGP Malted Coinvest LLC ("Malted"), and an affiliate of Capital and Holdings. LGP Management, Inc. ("LGPM") is the general partner of LGP.

F5 · ownership.direct: Each of GEI VI, GEI Side VI, Malted, Peridot, LGP, LGPM, Capital, and Holdings, directly (whether through ownership or position), or indirectly through one or more intermediaries, may be deemed for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, to be the indirect beneficial owner of some or all of the A-Common owned by GEI VI, GEI Side VI, or Malted, or the shares of Class B Common Stock, par value $0.001 per share ("B-Common") and limited liability company interests (the "LLC Interests") of SSE Holdings, LLC owned by GEI VI and Malted (collectively, the "Equity Interests") and, therefore, a "ten percent holder" hereunder.

F9 · ownership.direct: Each of GEI VI, GEI Side VI, Peridot, LGP, LGPM, Capital, and Holdings disclaims beneficial ownership of the Equity Interests reported on this row, except to the extent of its pecuniary interest therein, and, with respect to Malted, except to the extent of its direct ownership reported herein, and this report shall not otherwise be deemed an admission that the Reporting Persons are the beneficial owners of such securities for purposes of Section 16 or for any other purposes.

SEC source: 0001209191-16-140639 · doc4.xml · nonDerivative · entry 10

Green Equity Investors VI, L.P. · CIK 0001531051 · Director · 10% owner

Green Equity Investors Side VI, L.P. · CIK 0001531059 · Director · 10% owner

GEI Capital VI, LLC · CIK 0001632071 · Director · 10% owner

Green VI Holdings, LLC · CIK 0001632074 · Director · 10% owner

LGP MANAGEMENT INC · CIK 0001175525 · Director · 10% owner

LEONARD GREEN PARTNERS LP · CIK 0001175523 · Director · 10% owner

PERIDOT COINVEST MANAGER LLC · CIK 0001632725 · Director · 10% owner

LGP Malted Coinvest LLC · CIK 0001568925 · Director · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 424,492

F1 · shares: Represents shares of Class A common stock, par value $0.001 per share ("A-Common") of the Issuer sold by Green Equity Investors VI, L.P. ("GEI VI").

F15 · price: This transaction was executed in multiple trades at prices ranging from $36.75 to $37.08. The price reported above reflects the weighted average sale price. The Reporting Persons hereby undertake to provide upon request to the SEC staff, the Issuer, or a security holder of the Issuer full information regarding the number of Shares and prices at which the trades were effected.

F3 · balance_after: Represents shares owned by GEI VI.

F4 · ownership.direct: GEI Capital VI, LLC ("Capital") is the general partner of GEI VI and Green Equity Investors Side VI, L.P. ("GEI Side VI"). Green VI Holdings, LLC ("Holdings") is a limited partner of GEI VI. Leonard Green & Partners, L.P. ("LGP") is the management company of GEI VI and GEI Side VI, and an affiliate of Capital and Holdings. Peridot Coinvest Manager LLC ("Peridot") is the management company of LGP Malted Coinvest LLC ("Malted"), and an affiliate of Capital and Holdings. LGP Management, Inc. ("LGPM") is the general partner of LGP.

F5 · ownership.direct: Each of GEI VI, GEI Side VI, Malted, Peridot, LGP, LGPM, Capital, and Holdings, directly (whether through ownership or position), or indirectly through one or more intermediaries, may be deemed for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, to be the indirect beneficial owner of some or all of the A-Common owned by GEI VI, GEI Side VI, or Malted, or the shares of Class B Common Stock, par value $0.001 per share ("B-Common") and limited liability company interests (the "LLC Interests") of SSE Holdings, LLC owned by GEI VI and Malted (collectively, the "Equity Interests") and, therefore, a "ten percent holder" hereunder.

F6 · ownership.direct: Each of GEI Side VI, Malted, Peridot, LGP, LGPM, Capital, and Holdings disclaims beneficial ownership of the Equity Interests reported on this row, except to the extent of its pecuniary interest therein, and, with respect to GEI VI, except to the extent of its direct ownership reported herein, and this report shall not otherwise be deemed an admission that the Reporting Persons are the beneficial owners of such securities for purposes of Section 16 or for any other purposes.

SEC source: 0001209191-16-140639 · doc4.xml · nonDerivative · entry 9

Green Equity Investors VI, L.P. · CIK 0001531051 · Director · 10% owner

Green Equity Investors Side VI, L.P. · CIK 0001531059 · Director · 10% owner

GEI Capital VI, LLC · CIK 0001632071 · Director · 10% owner

Green VI Holdings, LLC · CIK 0001632074 · Director · 10% owner

LGP MANAGEMENT INC · CIK 0001175525 · Director · 10% owner

LEONARD GREEN PARTNERS LP · CIK 0001175523 · Director · 10% owner

PERIDOT COINVEST MANAGER LLC · CIK 0001632725 · Director · 10% owner

LGP Malted Coinvest LLC · CIK 0001568925 · Director · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,912,511

F10 · shares: Represents shares sold by GEI Side VI.

F14 · price: This transaction was executed in multiple trades at prices ranging from $35.75 to $36.75. The price reported above reflects the weighted average sale price. The Reporting Persons hereby undertake to provide upon request to the SEC staff, the Issuer, or a security holder of the Issuer full information regarding the number of Shares and prices at which the trades were effected.

F11 · balance_after: Represents shares owned by GEI Side VI.

F4 · ownership.direct: GEI Capital VI, LLC ("Capital") is the general partner of GEI VI and Green Equity Investors Side VI, L.P. ("GEI Side VI"). Green VI Holdings, LLC ("Holdings") is a limited partner of GEI VI. Leonard Green & Partners, L.P. ("LGP") is the management company of GEI VI and GEI Side VI, and an affiliate of Capital and Holdings. Peridot Coinvest Manager LLC ("Peridot") is the management company of LGP Malted Coinvest LLC ("Malted"), and an affiliate of Capital and Holdings. LGP Management, Inc. ("LGPM") is the general partner of LGP.

F5 · ownership.direct: Each of GEI VI, GEI Side VI, Malted, Peridot, LGP, LGPM, Capital, and Holdings, directly (whether through ownership or position), or indirectly through one or more intermediaries, may be deemed for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, to be the indirect beneficial owner of some or all of the A-Common owned by GEI VI, GEI Side VI, or Malted, or the shares of Class B Common Stock, par value $0.001 per share ("B-Common") and limited liability company interests (the "LLC Interests") of SSE Holdings, LLC owned by GEI VI and Malted (collectively, the "Equity Interests") and, therefore, a "ten percent holder" hereunder.

F12 · ownership.direct: Each of GEI VI, Malted, Peridot, LGP, LGPM, Capital, and Holdings disclaims beneficial ownership of the Equity Interests reported on this row, except to the extent of its pecuniary interest therein, and, with respect to GEI Side VI, except to the extent of its direct ownership reported herein, and this report shall not otherwise be deemed an admission that the Reporting Persons are the beneficial owners of such securities for purposes of Section 16 or for any other purposes.

SEC source: 0001209191-16-140639 · doc4.xml · nonDerivative · entry 8

Green Equity Investors VI, L.P. · CIK 0001531051 · Director · 10% owner

Green Equity Investors Side VI, L.P. · CIK 0001531059 · Director · 10% owner

GEI Capital VI, LLC · CIK 0001632071 · Director · 10% owner

Green VI Holdings, LLC · CIK 0001632074 · Director · 10% owner

LGP MANAGEMENT INC · CIK 0001175525 · Director · 10% owner

LEONARD GREEN PARTNERS LP · CIK 0001175523 · Director · 10% owner

PERIDOT COINVEST MANAGER LLC · CIK 0001632725 · Director · 10% owner

LGP Malted Coinvest LLC · CIK 0001568925 · Director · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 26,283

F7 · shares: Represents shares sold by Malted.

F14 · price: This transaction was executed in multiple trades at prices ranging from $35.75 to $36.75. The price reported above reflects the weighted average sale price. The Reporting Persons hereby undertake to provide upon request to the SEC staff, the Issuer, or a security holder of the Issuer full information regarding the number of Shares and prices at which the trades were effected.

F8 · balance_after: Represents shares owned by Malted.

F4 · ownership.direct: GEI Capital VI, LLC ("Capital") is the general partner of GEI VI and Green Equity Investors Side VI, L.P. ("GEI Side VI"). Green VI Holdings, LLC ("Holdings") is a limited partner of GEI VI. Leonard Green & Partners, L.P. ("LGP") is the management company of GEI VI and GEI Side VI, and an affiliate of Capital and Holdings. Peridot Coinvest Manager LLC ("Peridot") is the management company of LGP Malted Coinvest LLC ("Malted"), and an affiliate of Capital and Holdings. LGP Management, Inc. ("LGPM") is the general partner of LGP.

F5 · ownership.direct: Each of GEI VI, GEI Side VI, Malted, Peridot, LGP, LGPM, Capital, and Holdings, directly (whether through ownership or position), or indirectly through one or more intermediaries, may be deemed for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, to be the indirect beneficial owner of some or all of the A-Common owned by GEI VI, GEI Side VI, or Malted, or the shares of Class B Common Stock, par value $0.001 per share ("B-Common") and limited liability company interests (the "LLC Interests") of SSE Holdings, LLC owned by GEI VI and Malted (collectively, the "Equity Interests") and, therefore, a "ten percent holder" hereunder.

F9 · ownership.direct: Each of GEI VI, GEI Side VI, Peridot, LGP, LGPM, Capital, and Holdings disclaims beneficial ownership of the Equity Interests reported on this row, except to the extent of its pecuniary interest therein, and, with respect to Malted, except to the extent of its direct ownership reported herein, and this report shall not otherwise be deemed an admission that the Reporting Persons are the beneficial owners of such securities for purposes of Section 16 or for any other purposes.

SEC source: 0001209191-16-140639 · doc4.xml · nonDerivative · entry 7

Green Equity Investors VI, L.P. · CIK 0001531051 · Director · 10% owner

Green Equity Investors Side VI, L.P. · CIK 0001531059 · Director · 10% owner

GEI Capital VI, LLC · CIK 0001632071 · Director · 10% owner

Green VI Holdings, LLC · CIK 0001632074 · Director · 10% owner

LGP MANAGEMENT INC · CIK 0001175525 · Director · 10% owner

LEONARD GREEN PARTNERS LP · CIK 0001175523 · Director · 10% owner

PERIDOT COINVEST MANAGER LLC · CIK 0001632725 · Director · 10% owner

LGP Malted Coinvest LLC · CIK 0001568925 · Director · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 430,926

F1 · shares: Represents shares of Class A common stock, par value $0.001 per share ("A-Common") of the Issuer sold by Green Equity Investors VI, L.P. ("GEI VI").

F14 · price: This transaction was executed in multiple trades at prices ranging from $35.75 to $36.75. The price reported above reflects the weighted average sale price. The Reporting Persons hereby undertake to provide upon request to the SEC staff, the Issuer, or a security holder of the Issuer full information regarding the number of Shares and prices at which the trades were effected.

F3 · balance_after: Represents shares owned by GEI VI.

F4 · ownership.direct: GEI Capital VI, LLC ("Capital") is the general partner of GEI VI and Green Equity Investors Side VI, L.P. ("GEI Side VI"). Green VI Holdings, LLC ("Holdings") is a limited partner of GEI VI. Leonard Green & Partners, L.P. ("LGP") is the management company of GEI VI and GEI Side VI, and an affiliate of Capital and Holdings. Peridot Coinvest Manager LLC ("Peridot") is the management company of LGP Malted Coinvest LLC ("Malted"), and an affiliate of Capital and Holdings. LGP Management, Inc. ("LGPM") is the general partner of LGP.

F5 · ownership.direct: Each of GEI VI, GEI Side VI, Malted, Peridot, LGP, LGPM, Capital, and Holdings, directly (whether through ownership or position), or indirectly through one or more intermediaries, may be deemed for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, to be the indirect beneficial owner of some or all of the A-Common owned by GEI VI, GEI Side VI, or Malted, or the shares of Class B Common Stock, par value $0.001 per share ("B-Common") and limited liability company interests (the "LLC Interests") of SSE Holdings, LLC owned by GEI VI and Malted (collectively, the "Equity Interests") and, therefore, a "ten percent holder" hereunder.

F6 · ownership.direct: Each of GEI Side VI, Malted, Peridot, LGP, LGPM, Capital, and Holdings disclaims beneficial ownership of the Equity Interests reported on this row, except to the extent of its pecuniary interest therein, and, with respect to GEI VI, except to the extent of its direct ownership reported herein, and this report shall not otherwise be deemed an admission that the Reporting Persons are the beneficial owners of such securities for purposes of Section 16 or for any other purposes.

SEC source: 0001209191-16-140633 · doc4.xml · nonDerivative · entry 4

SOKOLOFF JONATHAN D · CIK 0001175522 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 2,358,982

F11 · shares: Represents shares of A-Common sold by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common sold, 6,434 were sold by GEI VI, 3,834 were sold by GEI Side VI, and 470 were sold by Malted.

F12 · price: This transaction was executed in multiple trades at prices ranging from $36.75 to $37.08. The price reported above reflects the weighted average sale price. Mr. Sokoloff hereby undertakes to provide upon request to the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of Shares and prices at which the trades were effected.

F13 · balance_after: Represents shares owned by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common reported, 424,492 are owned by GEI VI, 1,908,677 are owned by GEI Side VI, and 25,813 are owned by Malted.

F4 · ownership.nature: Mr. Sokoloff directly (whether through ownership or position), or indirectly through one or more intermediaries, may be deemed for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, to be the indirect beneficial owner of the shares owned by GEI VI, GEI Side VI, and Malted. Mr. Sokoloff disclaims beneficial ownership of the shares owned by each of GEI VI, GEI Side VI, and Malted, except to the extent of his pecuniary interest in GEI VI and GEI Side VI, and this report shall not otherwise be deemed an admission that he is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

SEC source: 0001209191-16-140633 · doc4.xml · nonDerivative · entry 3

SOKOLOFF JONATHAN D · CIK 0001175522 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 2,369,720

F8 · shares: Represents shares of A-Common sold by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common sold, 23,524 were sold by GEI VI, 14,021 were sold by GEI Side VI, and 1,717 were sold by Malted.

F9 · price: This transaction was executed in multiple trades at prices ranging from $35.75 to $36.75. The price reported above reflects the weighted average sale price. Mr. Sokoloff hereby undertakes to provide upon request to the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of Shares and prices at which the trades were effected.

F10 · balance_after: Represents shares owned by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common reported, 430,926 are owned by GEI VI, 1,912,511 are owned by GEI Side VI, and 26,283 are owned by Malted.

F4 · ownership.nature: Mr. Sokoloff directly (whether through ownership or position), or indirectly through one or more intermediaries, may be deemed for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, to be the indirect beneficial owner of the shares owned by GEI VI, GEI Side VI, and Malted. Mr. Sokoloff disclaims beneficial ownership of the shares owned by each of GEI VI, GEI Side VI, and Malted, except to the extent of his pecuniary interest in GEI VI and GEI Side VI, and this report shall not otherwise be deemed an admission that he is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

SEC source: 0001620533-16-000264 · wf-form4_147337323775610.xml · nonDerivative · entry 3

Flug Jeffrey · CIK 0001396917 · Director · 10% owner

GULF FIVE LLC · CIK 0001633992 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · BY LLC

Disclosed balance after: 73,612

F2 · price: The Reporting Person hereby undertakes to provide upon request to the SEC staff, Shake Shack Inc. (the "Issuer") or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected.

F5 · price: The transaction was executed in multiple trades at prices ranging from $36.9900 to $37.1000. The price reported above reflects the weighted average sales price.

F3 · ownership.nature: Represents shares of Class A common stock ("Class A Stock") of the Issuer held by Gulf Five LLC. The Reporting Person disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.

SEC source: 0001620533-16-000264 · wf-form4_147337323775610.xml · nonDerivative · entry 2

Flug Jeffrey · CIK 0001396917 · Director · 10% owner

GULF FIVE LLC · CIK 0001633992 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · BY LLC

Disclosed balance after: 74,812

F2 · price: The Reporting Person hereby undertakes to provide upon request to the SEC staff, Shake Shack Inc. (the "Issuer") or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected.

F4 · price: The transaction was executed in multiple trades at prices ranging from $35.9900 to $36.9800. The price reported above reflects the weighted average sales price.

F3 · ownership.nature: Represents shares of Class A common stock ("Class A Stock") of the Issuer held by Gulf Five LLC. The Reporting Person disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.

SEC source: 0001140361-16-079390 · doc1.xml · nonDerivative · entry 3

Select Equity Group, L.P. · CIK 0001592643 · Director · See Remarks

SEG PARTNERS L P · CIK 0001060793 · Director · See Remarks

SEG Partners Offshore Master Fund, Ltd. · CIK 0001632171 · 10% owner · See Remarks

SEG PARTNERS II L P · CIK 0001215218 · Director · See Remarks

Loening George S · CIK 0001632169 · Director · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 226,401

F1 · ownership.nature: See Exhibit 99.1.

F4 · ownership.nature: See Exhibit 99.1.

SEC source: 0001140361-16-079390 · doc1.xml · nonDerivative · entry 2

Select Equity Group, L.P. · CIK 0001592643 · Director · See Remarks

SEG PARTNERS L P · CIK 0001060793 · Director · See Remarks

SEG Partners Offshore Master Fund, Ltd. · CIK 0001632171 · 10% owner · See Remarks

SEG PARTNERS II L P · CIK 0001215218 · Director · See Remarks

Loening George S · CIK 0001632169 · Director · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 660,076

F1 · ownership.nature: See Exhibit 99.1.

F3 · ownership.nature: See Exhibit 99.1.

SEC source: 0001140361-16-079390 · doc1.xml · nonDerivative · entry 1

Select Equity Group, L.P. · CIK 0001592643 · Director · See Remarks

SEG PARTNERS L P · CIK 0001060793 · Director · See Remarks

SEG Partners Offshore Master Fund, Ltd. · CIK 0001632171 · 10% owner · See Remarks

SEG PARTNERS II L P · CIK 0001215218 · Director · See Remarks

Loening George S · CIK 0001632169 · Director · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 58,639

F1 · ownership.nature: See Exhibit 99.1.

F2 · ownership.nature: See Exhibit 99.1.

SEC source: 0001140361-16-078960 · doc1.xml · nonDerivative · entry 9

Select Equity Group, L.P. · CIK 0001592643 · Director · See Remarks

SEG PARTNERS L P · CIK 0001060793 · Director · See Remarks

SEG Partners Offshore Master Fund, Ltd. · CIK 0001632171 · Director · See Remarks

SEG PARTNERS II L P · CIK 0001215218 · Director · See Remarks

Loening George S · CIK 0001632169 · Director · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 245,221

F1 · ownership.nature: See Exhibit 99.1.

F4 · ownership.nature: See Exhibit 99.1.

SEC source: 0001140361-16-078960 · doc1.xml · nonDerivative · entry 8

Select Equity Group, L.P. · CIK 0001592643 · Director · See Remarks

SEG PARTNERS L P · CIK 0001060793 · Director · See Remarks

SEG Partners Offshore Master Fund, Ltd. · CIK 0001632171 · Director · See Remarks

SEG PARTNERS II L P · CIK 0001215218 · Director · See Remarks

Loening George S · CIK 0001632169 · Director · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 688,957

F1 · ownership.nature: See Exhibit 99.1.

F3 · ownership.nature: See Exhibit 99.1.

SEC source: 0001140361-16-078960 · doc1.xml · nonDerivative · entry 7

Select Equity Group, L.P. · CIK 0001592643 · Director · See Remarks

SEG PARTNERS L P · CIK 0001060793 · Director · See Remarks

SEG Partners Offshore Master Fund, Ltd. · CIK 0001632171 · Director · See Remarks

SEG PARTNERS II L P · CIK 0001215218 · Director · See Remarks

Loening George S · CIK 0001632169 · Director · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 63,804

F1 · ownership.nature: See Exhibit 99.1.

F2 · ownership.nature: See Exhibit 99.1.

SEC source: 0000846623-16-000022 · primary_doc.xml · nonDerivative · entry 2

SLOATE LAURA J · CIK 0000846623 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,500

SEC source: 0000846623-16-000022 · primary_doc.xml · nonDerivative · entry 1

SLOATE LAURA J · CIK 0000846623 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,000

SEC source: 0001209191-16-140639 · doc4.xml · nonDerivative · entry 6

Green Equity Investors VI, L.P. · CIK 0001531051 · Director · 10% owner

Green Equity Investors Side VI, L.P. · CIK 0001531059 · Director · 10% owner

GEI Capital VI, LLC · CIK 0001632071 · Director · 10% owner

Green VI Holdings, LLC · CIK 0001632074 · Director · 10% owner

LGP MANAGEMENT INC · CIK 0001175525 · Director · 10% owner

LEONARD GREEN PARTNERS LP · CIK 0001175523 · Director · 10% owner

PERIDOT COINVEST MANAGER LLC · CIK 0001632725 · Director · 10% owner

LGP Malted Coinvest LLC · CIK 0001568925 · Director · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,926,532

F10 · shares: Represents shares sold by GEI Side VI.

F13 · price: This transaction was executed in multiple trades at prices ranging from $36.03 to $36.34. The price reported above reflects the weighted average sale price. The Reporting Persons hereby undertake to provide upon request to the SEC staff, the Issuer, or a security holder of the Issuer full information regarding the number of Shares and prices at which the trades were effected.

F11 · balance_after: Represents shares owned by GEI Side VI.

F4 · ownership.direct: GEI Capital VI, LLC ("Capital") is the general partner of GEI VI and Green Equity Investors Side VI, L.P. ("GEI Side VI"). Green VI Holdings, LLC ("Holdings") is a limited partner of GEI VI. Leonard Green & Partners, L.P. ("LGP") is the management company of GEI VI and GEI Side VI, and an affiliate of Capital and Holdings. Peridot Coinvest Manager LLC ("Peridot") is the management company of LGP Malted Coinvest LLC ("Malted"), and an affiliate of Capital and Holdings. LGP Management, Inc. ("LGPM") is the general partner of LGP.

F5 · ownership.direct: Each of GEI VI, GEI Side VI, Malted, Peridot, LGP, LGPM, Capital, and Holdings, directly (whether through ownership or position), or indirectly through one or more intermediaries, may be deemed for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, to be the indirect beneficial owner of some or all of the A-Common owned by GEI VI, GEI Side VI, or Malted, or the shares of Class B Common Stock, par value $0.001 per share ("B-Common") and limited liability company interests (the "LLC Interests") of SSE Holdings, LLC owned by GEI VI and Malted (collectively, the "Equity Interests") and, therefore, a "ten percent holder" hereunder.

F12 · ownership.direct: Each of GEI VI, Malted, Peridot, LGP, LGPM, Capital, and Holdings disclaims beneficial ownership of the Equity Interests reported on this row, except to the extent of its pecuniary interest therein, and, with respect to GEI Side VI, except to the extent of its direct ownership reported herein, and this report shall not otherwise be deemed an admission that the Reporting Persons are the beneficial owners of such securities for purposes of Section 16 or for any other purposes.

SEC source: 0001209191-16-140639 · doc4.xml · nonDerivative · entry 5

Green Equity Investors VI, L.P. · CIK 0001531051 · Director · 10% owner

Green Equity Investors Side VI, L.P. · CIK 0001531059 · Director · 10% owner

GEI Capital VI, LLC · CIK 0001632071 · Director · 10% owner

Green VI Holdings, LLC · CIK 0001632074 · Director · 10% owner

LGP MANAGEMENT INC · CIK 0001175525 · Director · 10% owner

LEONARD GREEN PARTNERS LP · CIK 0001175523 · Director · 10% owner

PERIDOT COINVEST MANAGER LLC · CIK 0001632725 · Director · 10% owner

LGP Malted Coinvest LLC · CIK 0001568925 · Director · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,000

F7 · shares: Represents shares sold by Malted.

F13 · price: This transaction was executed in multiple trades at prices ranging from $36.03 to $36.34. The price reported above reflects the weighted average sale price. The Reporting Persons hereby undertake to provide upon request to the SEC staff, the Issuer, or a security holder of the Issuer full information regarding the number of Shares and prices at which the trades were effected.

F8 · balance_after: Represents shares owned by Malted.

F4 · ownership.direct: GEI Capital VI, LLC ("Capital") is the general partner of GEI VI and Green Equity Investors Side VI, L.P. ("GEI Side VI"). Green VI Holdings, LLC ("Holdings") is a limited partner of GEI VI. Leonard Green & Partners, L.P. ("LGP") is the management company of GEI VI and GEI Side VI, and an affiliate of Capital and Holdings. Peridot Coinvest Manager LLC ("Peridot") is the management company of LGP Malted Coinvest LLC ("Malted"), and an affiliate of Capital and Holdings. LGP Management, Inc. ("LGPM") is the general partner of LGP.

F5 · ownership.direct: Each of GEI VI, GEI Side VI, Malted, Peridot, LGP, LGPM, Capital, and Holdings, directly (whether through ownership or position), or indirectly through one or more intermediaries, may be deemed for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, to be the indirect beneficial owner of some or all of the A-Common owned by GEI VI, GEI Side VI, or Malted, or the shares of Class B Common Stock, par value $0.001 per share ("B-Common") and limited liability company interests (the "LLC Interests") of SSE Holdings, LLC owned by GEI VI and Malted (collectively, the "Equity Interests") and, therefore, a "ten percent holder" hereunder.

F9 · ownership.direct: Each of GEI VI, GEI Side VI, Peridot, LGP, LGPM, Capital, and Holdings disclaims beneficial ownership of the Equity Interests reported on this row, except to the extent of its pecuniary interest therein, and, with respect to Malted, except to the extent of its direct ownership reported herein, and this report shall not otherwise be deemed an admission that the Reporting Persons are the beneficial owners of such securities for purposes of Section 16 or for any other purposes.

SEC source: 0001209191-16-140639 · doc4.xml · nonDerivative · entry 4

Green Equity Investors VI, L.P. · CIK 0001531051 · Director · 10% owner

Green Equity Investors Side VI, L.P. · CIK 0001531059 · Director · 10% owner

GEI Capital VI, LLC · CIK 0001632071 · Director · 10% owner

Green VI Holdings, LLC · CIK 0001632074 · Director · 10% owner

LGP MANAGEMENT INC · CIK 0001175525 · Director · 10% owner

LEONARD GREEN PARTNERS LP · CIK 0001175523 · Director · 10% owner

PERIDOT COINVEST MANAGER LLC · CIK 0001632725 · Director · 10% owner

LGP Malted Coinvest LLC · CIK 0001568925 · Director · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 454,450

F1 · shares: Represents shares of Class A common stock, par value $0.001 per share ("A-Common") of the Issuer sold by Green Equity Investors VI, L.P. ("GEI VI").

F13 · price: This transaction was executed in multiple trades at prices ranging from $36.03 to $36.34. The price reported above reflects the weighted average sale price. The Reporting Persons hereby undertake to provide upon request to the SEC staff, the Issuer, or a security holder of the Issuer full information regarding the number of Shares and prices at which the trades were effected.

F3 · balance_after: Represents shares owned by GEI VI.

F4 · ownership.direct: GEI Capital VI, LLC ("Capital") is the general partner of GEI VI and Green Equity Investors Side VI, L.P. ("GEI Side VI"). Green VI Holdings, LLC ("Holdings") is a limited partner of GEI VI. Leonard Green & Partners, L.P. ("LGP") is the management company of GEI VI and GEI Side VI, and an affiliate of Capital and Holdings. Peridot Coinvest Manager LLC ("Peridot") is the management company of LGP Malted Coinvest LLC ("Malted"), and an affiliate of Capital and Holdings. LGP Management, Inc. ("LGPM") is the general partner of LGP.

F5 · ownership.direct: Each of GEI VI, GEI Side VI, Malted, Peridot, LGP, LGPM, Capital, and Holdings, directly (whether through ownership or position), or indirectly through one or more intermediaries, may be deemed for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, to be the indirect beneficial owner of some or all of the A-Common owned by GEI VI, GEI Side VI, or Malted, or the shares of Class B Common Stock, par value $0.001 per share ("B-Common") and limited liability company interests (the "LLC Interests") of SSE Holdings, LLC owned by GEI VI and Malted (collectively, the "Equity Interests") and, therefore, a "ten percent holder" hereunder.

F6 · ownership.direct: Each of GEI Side VI, Malted, Peridot, LGP, LGPM, Capital, and Holdings disclaims beneficial ownership of the Equity Interests reported on this row, except to the extent of its pecuniary interest therein, and, with respect to GEI VI, except to the extent of its direct ownership reported herein, and this report shall not otherwise be deemed an admission that the Reporting Persons are the beneficial owners of such securities for purposes of Section 16 or for any other purposes.

SEC source: 0001209191-16-140639 · doc4.xml · nonDerivative · entry 3

Green Equity Investors VI, L.P. · CIK 0001531051 · Director · 10% owner

Green Equity Investors Side VI, L.P. · CIK 0001531059 · Director · 10% owner

GEI Capital VI, LLC · CIK 0001632071 · Director · 10% owner

Green VI Holdings, LLC · CIK 0001632074 · Director · 10% owner

LGP MANAGEMENT INC · CIK 0001175525 · Director · 10% owner

LEONARD GREEN PARTNERS LP · CIK 0001175523 · Director · 10% owner

PERIDOT COINVEST MANAGER LLC · CIK 0001632725 · Director · 10% owner

LGP Malted Coinvest LLC · CIK 0001568925 · Director · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,929,153

F10 · shares: Represents shares sold by GEI Side VI.

F2 · price: This transaction was executed in multiple trades at prices ranging from $35.03 to $35.94. The price reported above reflects the weighted average sale price. The Reporting Persons hereby undertake to provide upon request to the SEC staff, the Issuer, or a security holder of the Issuer full information regarding the number of Shares and prices at which the trades were effected.

F11 · balance_after: Represents shares owned by GEI Side VI.

F4 · ownership.direct: GEI Capital VI, LLC ("Capital") is the general partner of GEI VI and Green Equity Investors Side VI, L.P. ("GEI Side VI"). Green VI Holdings, LLC ("Holdings") is a limited partner of GEI VI. Leonard Green & Partners, L.P. ("LGP") is the management company of GEI VI and GEI Side VI, and an affiliate of Capital and Holdings. Peridot Coinvest Manager LLC ("Peridot") is the management company of LGP Malted Coinvest LLC ("Malted"), and an affiliate of Capital and Holdings. LGP Management, Inc. ("LGPM") is the general partner of LGP.

F5 · ownership.direct: Each of GEI VI, GEI Side VI, Malted, Peridot, LGP, LGPM, Capital, and Holdings, directly (whether through ownership or position), or indirectly through one or more intermediaries, may be deemed for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, to be the indirect beneficial owner of some or all of the A-Common owned by GEI VI, GEI Side VI, or Malted, or the shares of Class B Common Stock, par value $0.001 per share ("B-Common") and limited liability company interests (the "LLC Interests") of SSE Holdings, LLC owned by GEI VI and Malted (collectively, the "Equity Interests") and, therefore, a "ten percent holder" hereunder.

F12 · ownership.direct: Each of GEI VI, Malted, Peridot, LGP, LGPM, Capital, and Holdings disclaims beneficial ownership of the Equity Interests reported on this row, except to the extent of its pecuniary interest therein, and, with respect to GEI Side VI, except to the extent of its direct ownership reported herein, and this report shall not otherwise be deemed an admission that the Reporting Persons are the beneficial owners of such securities for purposes of Section 16 or for any other purposes.

SEC source: 0001209191-16-140639 · doc4.xml · nonDerivative · entry 2

Green Equity Investors VI, L.P. · CIK 0001531051 · Director · 10% owner

Green Equity Investors Side VI, L.P. · CIK 0001531059 · Director · 10% owner

GEI Capital VI, LLC · CIK 0001632071 · Director · 10% owner

Green VI Holdings, LLC · CIK 0001632074 · Director · 10% owner

LGP MANAGEMENT INC · CIK 0001175525 · Director · 10% owner

LEONARD GREEN PARTNERS LP · CIK 0001175523 · Director · 10% owner

PERIDOT COINVEST MANAGER LLC · CIK 0001632725 · Director · 10% owner

LGP Malted Coinvest LLC · CIK 0001568925 · Director · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,320

F7 · shares: Represents shares sold by Malted.

F2 · price: This transaction was executed in multiple trades at prices ranging from $35.03 to $35.94. The price reported above reflects the weighted average sale price. The Reporting Persons hereby undertake to provide upon request to the SEC staff, the Issuer, or a security holder of the Issuer full information regarding the number of Shares and prices at which the trades were effected.

F8 · balance_after: Represents shares owned by Malted.

F4 · ownership.direct: GEI Capital VI, LLC ("Capital") is the general partner of GEI VI and Green Equity Investors Side VI, L.P. ("GEI Side VI"). Green VI Holdings, LLC ("Holdings") is a limited partner of GEI VI. Leonard Green & Partners, L.P. ("LGP") is the management company of GEI VI and GEI Side VI, and an affiliate of Capital and Holdings. Peridot Coinvest Manager LLC ("Peridot") is the management company of LGP Malted Coinvest LLC ("Malted"), and an affiliate of Capital and Holdings. LGP Management, Inc. ("LGPM") is the general partner of LGP.

F5 · ownership.direct: Each of GEI VI, GEI Side VI, Malted, Peridot, LGP, LGPM, Capital, and Holdings, directly (whether through ownership or position), or indirectly through one or more intermediaries, may be deemed for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, to be the indirect beneficial owner of some or all of the A-Common owned by GEI VI, GEI Side VI, or Malted, or the shares of Class B Common Stock, par value $0.001 per share ("B-Common") and limited liability company interests (the "LLC Interests") of SSE Holdings, LLC owned by GEI VI and Malted (collectively, the "Equity Interests") and, therefore, a "ten percent holder" hereunder.

F9 · ownership.direct: Each of GEI VI, GEI Side VI, Peridot, LGP, LGPM, Capital, and Holdings disclaims beneficial ownership of the Equity Interests reported on this row, except to the extent of its pecuniary interest therein, and, with respect to Malted, except to the extent of its direct ownership reported herein, and this report shall not otherwise be deemed an admission that the Reporting Persons are the beneficial owners of such securities for purposes of Section 16 or for any other purposes.

SEC source: 0001209191-16-140639 · doc4.xml · nonDerivative · entry 1

Green Equity Investors VI, L.P. · CIK 0001531051 · Director · 10% owner

Green Equity Investors Side VI, L.P. · CIK 0001531059 · Director · 10% owner

GEI Capital VI, LLC · CIK 0001632071 · Director · 10% owner

Green VI Holdings, LLC · CIK 0001632074 · Director · 10% owner

LGP MANAGEMENT INC · CIK 0001175525 · Director · 10% owner

LEONARD GREEN PARTNERS LP · CIK 0001175523 · Director · 10% owner

PERIDOT COINVEST MANAGER LLC · CIK 0001632725 · Director · 10% owner

LGP Malted Coinvest LLC · CIK 0001568925 · Director · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 458,848

F1 · shares: Represents shares of Class A common stock, par value $0.001 per share ("A-Common") of the Issuer sold by Green Equity Investors VI, L.P. ("GEI VI").

F2 · price: This transaction was executed in multiple trades at prices ranging from $35.03 to $35.94. The price reported above reflects the weighted average sale price. The Reporting Persons hereby undertake to provide upon request to the SEC staff, the Issuer, or a security holder of the Issuer full information regarding the number of Shares and prices at which the trades were effected.

F3 · balance_after: Represents shares owned by GEI VI.

F4 · ownership.direct: GEI Capital VI, LLC ("Capital") is the general partner of GEI VI and Green Equity Investors Side VI, L.P. ("GEI Side VI"). Green VI Holdings, LLC ("Holdings") is a limited partner of GEI VI. Leonard Green & Partners, L.P. ("LGP") is the management company of GEI VI and GEI Side VI, and an affiliate of Capital and Holdings. Peridot Coinvest Manager LLC ("Peridot") is the management company of LGP Malted Coinvest LLC ("Malted"), and an affiliate of Capital and Holdings. LGP Management, Inc. ("LGPM") is the general partner of LGP.

F5 · ownership.direct: Each of GEI VI, GEI Side VI, Malted, Peridot, LGP, LGPM, Capital, and Holdings, directly (whether through ownership or position), or indirectly through one or more intermediaries, may be deemed for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, to be the indirect beneficial owner of some or all of the A-Common owned by GEI VI, GEI Side VI, or Malted, or the shares of Class B Common Stock, par value $0.001 per share ("B-Common") and limited liability company interests (the "LLC Interests") of SSE Holdings, LLC owned by GEI VI and Malted (collectively, the "Equity Interests") and, therefore, a "ten percent holder" hereunder.

F6 · ownership.direct: Each of GEI Side VI, Malted, Peridot, LGP, LGPM, Capital, and Holdings disclaims beneficial ownership of the Equity Interests reported on this row, except to the extent of its pecuniary interest therein, and, with respect to GEI VI, except to the extent of its direct ownership reported herein, and this report shall not otherwise be deemed an admission that the Reporting Persons are the beneficial owners of such securities for purposes of Section 16 or for any other purposes.

SEC source: 0001209191-16-140633 · doc4.xml · nonDerivative · entry 2

SOKOLOFF JONATHAN D · CIK 0001175522 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 2,408,982

F5 · shares: Represents shares of A-Common sold by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common sold, 4,398 were sold by GEI VI, 2,621 were sold by GEI Side VI, and 320 were sold by Malted.

F6 · price: This transaction was executed in multiple trades at prices ranging from $36.03 to $36.34. The price reported above reflects the weighted average sale price. Mr. Sokoloff hereby undertakes to provide upon request to the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of Shares and prices at which the trades were effected.

F7 · balance_after: Represents shares owned by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common reported, 454,450 are owned by GEI VI, 1,926,532 are owned by GEI Side VI, and 28,000 are owned by Malted.

F4 · ownership.nature: Mr. Sokoloff directly (whether through ownership or position), or indirectly through one or more intermediaries, may be deemed for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, to be the indirect beneficial owner of the shares owned by GEI VI, GEI Side VI, and Malted. Mr. Sokoloff disclaims beneficial ownership of the shares owned by each of GEI VI, GEI Side VI, and Malted, except to the extent of his pecuniary interest in GEI VI and GEI Side VI, and this report shall not otherwise be deemed an admission that he is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

SEC source: 0001209191-16-140633 · doc4.xml · nonDerivative · entry 1

SOKOLOFF JONATHAN D · CIK 0001175522 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 2,416,321

F1 · shares: Represents shares of Class A common stock, par value $0.001 per share ("A-Common") sold by Green Equity Investors VI, L.P. ("GEI VI"), Green Equity Investors Side VI, L.P. ("GEI Side VI"), and LGP Malted Coinvest LLC ("Malted"). Of the shares of A-Common sold, 25,561 were sold by GEI VI, 15,234 were sold by GEI Side VI, and 1,866 were sold by Malted. GEI VI's, GEI Side VI's, and Malted's A-Common, together with GEI VI's and Malted's B-Common and LLC Interests, are collectively referred to herein as the "Equity Interests."

F2 · price: This transaction was executed in multiple trades at prices ranging from $35.03 to $35.94. The price reported above reflects the weighted average sale price. Mr. Sokoloff hereby undertakes to provide upon request to the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of Shares and prices at which the trades were effected.

F3 · balance_after: Represents shares owned by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common reported, 458,848 are owned by GEI VI, 1,929,153 are owned by GEI Side VI, and 28,320 are owned by Malted.

F4 · ownership.nature: Mr. Sokoloff directly (whether through ownership or position), or indirectly through one or more intermediaries, may be deemed for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, to be the indirect beneficial owner of the shares owned by GEI VI, GEI Side VI, and Malted. Mr. Sokoloff disclaims beneficial ownership of the shares owned by each of GEI VI, GEI Side VI, and Malted, except to the extent of his pecuniary interest in GEI VI and GEI Side VI, and this report shall not otherwise be deemed an admission that he is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

SEC source: 0001620533-16-000264 · wf-form4_147337323775610.xml · nonDerivative · entry 1

Flug Jeffrey · CIK 0001396917 · Director · 10% owner

GULF FIVE LLC · CIK 0001633992 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · BY LLC

Disclosed balance after: 98,612

F1 · price: The transaction was executed in multiple trades at prices ranging from $35.5000 to $36.3700. The price reported above reflects the weighted average sales price.

F2 · price: The Reporting Person hereby undertakes to provide upon request to the SEC staff, Shake Shack Inc. (the "Issuer") or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected.

F3 · ownership.nature: Represents shares of Class A common stock ("Class A Stock") of the Issuer held by Gulf Five LLC. The Reporting Person disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.

SEC source: 0001140361-16-078960 · doc1.xml · nonDerivative · entry 6

Select Equity Group, L.P. · CIK 0001592643 · Director · See Remarks

SEG PARTNERS L P · CIK 0001060793 · Director · See Remarks

SEG Partners Offshore Master Fund, Ltd. · CIK 0001632171 · Director · See Remarks

SEG PARTNERS II L P · CIK 0001215218 · Director · See Remarks

Loening George S · CIK 0001632169 · Director · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 265,786

F1 · ownership.nature: See Exhibit 99.1.

F4 · ownership.nature: See Exhibit 99.1.

SEC source: 0001140361-16-078960 · doc1.xml · nonDerivative · entry 5

Select Equity Group, L.P. · CIK 0001592643 · Director · See Remarks

SEG PARTNERS L P · CIK 0001060793 · Director · See Remarks

SEG Partners Offshore Master Fund, Ltd. · CIK 0001632171 · Director · See Remarks

SEG PARTNERS II L P · CIK 0001215218 · Director · See Remarks

Loening George S · CIK 0001632169 · Director · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 720,502

F1 · ownership.nature: See Exhibit 99.1.

F3 · ownership.nature: See Exhibit 99.1.

SEC source: 0001140361-16-078960 · doc1.xml · nonDerivative · entry 4

Select Equity Group, L.P. · CIK 0001592643 · Director · See Remarks

SEG PARTNERS L P · CIK 0001060793 · Director · See Remarks

SEG Partners Offshore Master Fund, Ltd. · CIK 0001632171 · Director · See Remarks

SEG PARTNERS II L P · CIK 0001215218 · Director · See Remarks

Loening George S · CIK 0001632169 · Director · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 69,449

F1 · ownership.nature: See Exhibit 99.1.

F2 · ownership.nature: See Exhibit 99.1.

SEC source: 0001209191-16-140034 · doc4.xml · nonDerivative · entry 8

Green Equity Investors VI, L.P. · CIK 0001531051 · Director · 10% owner

GEI Capital VI, LLC · CIK 0001632071 · Director · 10% owner

Green Equity Investors Side VI, L.P. · CIK 0001531059 · Director · 10% owner

Green VI Holdings, LLC · CIK 0001632074 · Director · 10% owner

LEONARD GREEN PARTNERS LP · CIK 0001175523 · Director · 10% owner

LGP Malted Coinvest LLC · CIK 0001568925 · Director · 10% owner

LGP MANAGEMENT INC · CIK 0001175525 · Director · 10% owner

PERIDOT COINVEST MANAGER LLC · CIK 0001632725 · Director · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,944,387

F12 · shares: Represents shares sold by GEI Side VI.

F15 · price: This transaction was executed in multiple trades at prices ranging from $35.00 to $35.73. The price reported above reflects the weighted average sale price. The Reporting Persons hereby undertake to provide upon request to the SEC staff, the Issuer, or a security holder of the Issuer full information regarding the number of Shares and prices at which the trades were effected.

F13 · balance_after: Represents shares owned by GEI Side VI.

F3 · ownership.direct: GEI Capital VI, LLC ("Capital") is the general partner of GEI VI and Green Equity Investors Side VI, L.P. ("GEI Side VI"). Green VI Holdings, LLC ("Holdings") is a limited partner of GEI VI. Leonard Green & Partners, L.P. ("LGP") is the management company of GEI VI and GEI Side VI, and an affiliate of Capital and Holdings. Peridot Coinvest Manager LLC ("Peridot") is the management company of LGP Malted Coinvest LLC ("Malted"), and an affiliate of Capital and Holdings. LGP Management, Inc. ("LGPM") is the general partner of LGP.

F4 · ownership.direct: Each of GEI VI, GEI Side VI, Malted, Peridot, LGP, LGPM, Capital, and Holdings, directly (whether through ownership or position), or indirectly through one or more intermediaries, may be deemed for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, to be the indirect beneficial owner of some or all of the A-Common owned by GEI VI, GEI Side VI, or Malted, or the shares of Class B Common Stock, par value $0.001 per share ("B-Common") and limited liability company interests (the "LLC Interests") of SSE Holdings, LLC owned by GEI VI and Malted (collectively, the "Equity Interests") and, therefore, a "ten percent holder" hereunder.

F14 · ownership.direct: Each of GEI VI, Malted, Peridot, LGP, LGPM, Capital, and Holdings disclaims beneficial ownership of the Equity Interests reported on this row, except to the extent of its pecuniary interest therein, and, with respect to GEI Side VI, except to the extent of its direct ownership reported herein, and this report shall not otherwise be deemed an admission that the Reporting Persons are the beneficial owners of such securities for purposes of Section 16 or for any other purposes.

SEC source: 0001209191-16-140034 · doc4.xml · nonDerivative · entry 7

Green Equity Investors VI, L.P. · CIK 0001531051 · Director · 10% owner

GEI Capital VI, LLC · CIK 0001632071 · Director · 10% owner

Green Equity Investors Side VI, L.P. · CIK 0001531059 · Director · 10% owner

Green VI Holdings, LLC · CIK 0001632074 · Director · 10% owner

LEONARD GREEN PARTNERS LP · CIK 0001175523 · Director · 10% owner

LGP Malted Coinvest LLC · CIK 0001568925 · Director · 10% owner

LGP MANAGEMENT INC · CIK 0001175525 · Director · 10% owner

PERIDOT COINVEST MANAGER LLC · CIK 0001632725 · Director · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 30,186

F11 · shares: Represents shares sold by Malted.

F15 · price: This transaction was executed in multiple trades at prices ranging from $35.00 to $35.73. The price reported above reflects the weighted average sale price. The Reporting Persons hereby undertake to provide upon request to the SEC staff, the Issuer, or a security holder of the Issuer full information regarding the number of Shares and prices at which the trades were effected.

F7 · balance_after: Represents shares owned by Malted.

F3 · ownership.direct: GEI Capital VI, LLC ("Capital") is the general partner of GEI VI and Green Equity Investors Side VI, L.P. ("GEI Side VI"). Green VI Holdings, LLC ("Holdings") is a limited partner of GEI VI. Leonard Green & Partners, L.P. ("LGP") is the management company of GEI VI and GEI Side VI, and an affiliate of Capital and Holdings. Peridot Coinvest Manager LLC ("Peridot") is the management company of LGP Malted Coinvest LLC ("Malted"), and an affiliate of Capital and Holdings. LGP Management, Inc. ("LGPM") is the general partner of LGP.

F4 · ownership.direct: Each of GEI VI, GEI Side VI, Malted, Peridot, LGP, LGPM, Capital, and Holdings, directly (whether through ownership or position), or indirectly through one or more intermediaries, may be deemed for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, to be the indirect beneficial owner of some or all of the A-Common owned by GEI VI, GEI Side VI, or Malted, or the shares of Class B Common Stock, par value $0.001 per share ("B-Common") and limited liability company interests (the "LLC Interests") of SSE Holdings, LLC owned by GEI VI and Malted (collectively, the "Equity Interests") and, therefore, a "ten percent holder" hereunder.

F8 · ownership.direct: Each of GEI VI, GEI Side VI, Peridot, LGP, LGPM, Capital, and Holdings disclaims beneficial ownership of the Equity Interests reported on this row, except to the extent of its pecuniary interest therein, and, with respect to Malted, except to the extent of its direct ownership reported herein, and this report shall not otherwise be deemed an admission that the Reporting Persons are the beneficial owners of such securities for purposes of Section 16 or for any other purposes.

SEC source: 0001209191-16-140034 · doc4.xml · nonDerivative · entry 6

Green Equity Investors VI, L.P. · CIK 0001531051 · Director · 10% owner

GEI Capital VI, LLC · CIK 0001632071 · Director · 10% owner

Green Equity Investors Side VI, L.P. · CIK 0001531059 · Director · 10% owner

Green VI Holdings, LLC · CIK 0001632074 · Director · 10% owner

LEONARD GREEN PARTNERS LP · CIK 0001175523 · Director · 10% owner

LGP Malted Coinvest LLC · CIK 0001568925 · Director · 10% owner

LGP MANAGEMENT INC · CIK 0001175525 · Director · 10% owner

PERIDOT COINVEST MANAGER LLC · CIK 0001632725 · Director · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 484,409

F9 · shares: Represents shares sold by GEI VI.

F15 · price: This transaction was executed in multiple trades at prices ranging from $35.00 to $35.73. The price reported above reflects the weighted average sale price. The Reporting Persons hereby undertake to provide upon request to the SEC staff, the Issuer, or a security holder of the Issuer full information regarding the number of Shares and prices at which the trades were effected.

F2 · balance_after: Represents shares owned by GEI VI.

F3 · ownership.direct: GEI Capital VI, LLC ("Capital") is the general partner of GEI VI and Green Equity Investors Side VI, L.P. ("GEI Side VI"). Green VI Holdings, LLC ("Holdings") is a limited partner of GEI VI. Leonard Green & Partners, L.P. ("LGP") is the management company of GEI VI and GEI Side VI, and an affiliate of Capital and Holdings. Peridot Coinvest Manager LLC ("Peridot") is the management company of LGP Malted Coinvest LLC ("Malted"), and an affiliate of Capital and Holdings. LGP Management, Inc. ("LGPM") is the general partner of LGP.

F4 · ownership.direct: Each of GEI VI, GEI Side VI, Malted, Peridot, LGP, LGPM, Capital, and Holdings, directly (whether through ownership or position), or indirectly through one or more intermediaries, may be deemed for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, to be the indirect beneficial owner of some or all of the A-Common owned by GEI VI, GEI Side VI, or Malted, or the shares of Class B Common Stock, par value $0.001 per share ("B-Common") and limited liability company interests (the "LLC Interests") of SSE Holdings, LLC owned by GEI VI and Malted (collectively, the "Equity Interests") and, therefore, a "ten percent holder" hereunder.

F5 · ownership.direct: Each of GEI Side VI, Malted, Peridot, LGP, LGPM, Capital, and Holdings disclaims beneficial ownership of the Equity Interests reported on this row, except to the extent of its pecuniary interest therein, and, with respect to GEI VI, except to the extent of its direct ownership reported herein, and this report shall not otherwise be deemed an admission that the Reporting Persons are the beneficial owners of such securities for purposes of Section 16 or for any other purposes.

SEC source: 0001209191-16-140031 · doc4.xml · nonDerivative · entry 3

SOKOLOFF JONATHAN D · CIK 0001175522 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 2,458,982

F7 · shares: Represents shares of A-Common sold by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common sold, 29,958 were sold by GEI VI, 17,855 were sold by GEI Side VI, and 2,187 were sold by Malted.

F8 · price: This transaction was executed in multiple trades at prices ranging from $35.00 to $35.73. The price reported above reflects the weighted average sale price. Mr. Sokoloff hereby undertakes to provide upon request to the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of Shares and prices at which the trades were effected.

F9 · balance_after: Represents shares owned by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common reported, 484,409 are owned by GEI VI, 1,944,387 are owned by GEI Side VI, and 30,186 are owned by Malted.

F3 · ownership.nature: Mr. Sokoloff directly (whether through ownership or position), or indirectly through one or more intermediaries, may be deemed for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, to be the indirect beneficial owner of the shares owned by GEI VI, GEI Side VI, and Malted. Mr. Sokoloff disclaims beneficial ownership of the shares owned by each of GEI VI, GEI Side VI, and Malted, except to the extent of his pecuniary interest in GEI VI and GEI Side VI, and this report shall not otherwise be deemed an admission that he is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.