Ruth's Hospitality Group Investor Presentation — November 2019

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RUTH’S HOSPITALITY GROUP

This presentation contains “forward -looking statements” thatreflect, when made, theCompany’s expectations orbeliefs concerning future events thatinvolve risks anduncertainties .Forward-

looking statements frequently areidentified bythewords “believe,” “anticipate,” “expect,” “estimate,” “intend,” “project,” “targeting,” “will be,” “will continue,” “will likely result,” orother similar

words andphrases .Similarly, statements herein thatdescribe theCompany’s objectives, plans orgoals, including with respect tonew restaurant openings, capital expenditures, impact of

healthcare inflation, and recent accounting pronouncements, also areforward -looking statements. Actual results could differ materially from those projected, implied oranticipated bythe

Company’s forward -looking statements. Some ofthefactors thatcould cause actual results todiffer include :reductions intheavailability of,orincreases inthecost of,USDA Prime grade beef,

fishandother food items ;changes ineconomic conditions andgeneral trends ;theloss ofkeymanagement personnel ;theeffect ofmarket volatility ontheCompany’s stock price ;health

concerns about beef orother food products ;theeffect ofcompetition intherestaurant industry; changes inconsumer preferences ordiscretionary spending; labor shortages orincreases inlabor

costs; theimpact offederal, state orlocal government regulations relating toincome taxes, unclaimed property, Company employees, thesale orpreparation offood, thesale ofalcoholic

beverages andtheopening ofnew restaurants ;harmful actions taken bytheCompany’s franchisees ;theinability tosuccessfully integrate franchisee acquisitions intotheCompany’s business

operations ;amaterial failure, interruption orsecurity breach oftheCompany’s information technology network ;theCompany’s indemnification obligations inconnection with itssale ofthe

Mitchell’s Restaurants ;theCompany’s ability toprotect itsname and logo and other proprietary information ;animpairment inthefinancial statement carrying value ofourgoodwill, other

intangible assets orproperty ;theimpact oflitigation ;therestrictions imposed bytheCompany’s Credit Agreement ;andchanges in,orthediscontinuation of,theCompany’s quarterly cash

dividend payments orshare repurchase program .Foradiscussion ofthese andother risks anduncertainties thatcould cause actual results todiffer from those contained intheforward -looking

statements, see“Risk Factors” intheCompany’s Annual Report onForm 10-Kforthefiscal year ended December 30,2018 ,which isavailable ontheSEC’s website atwww. sec.gov.All

forward -looking statements arequalified intheir entirety bythiscautionary statement, and theCompany undertakes noobligation torevise orupdate thispresentation toreflect events or