Darrden Restaurants, Inc. Business Analysis

The following information may be useful in understanding the relationship between Darden Restaurants, Inc., GMRI, Inc. and their subsidiaries as May 29, 2016.

Darden Restaurants, Inc.

Darden Restaurants, Inc. (Darden) was incorporated in Florida on March 30, 1995. At the time of its incorporation and briefly thereafter, Darden was a wholly-owned subsidiary of General Mills, Inc. However, in May of 1995, General Mills, Inc. distributed to its shareholders all issued stock of Darden. Since its “spin-off” from General Mills, Inc., Darden has been an independent, publicly held company with common stock traded on the New York Stock Exchange. Darden effectively is a holding company; all of its restaurants are owned and operated by direct or indirect

is a wholly-owned subsidiary of Darden. It was incorporated on March 27, 1968, under the name Red Lobster Inns of America, Inc., but has changed its name three times. It changed its name to General Mills Restaurant Group, Inc. on March 21, 1979, to General Mills Restaurants, Inc. on June 1, 1987 and to GMRI, Inc. on April 3, 1995. As of Darden’s fiscal year ended May 29, 2016, GMRI, Inc. owned and operated Darden’s 1,536 restaurants in the United States and Canada, either directly or through subsidiaries. *As of May 29, 2016, GMRI, Inc., owns and controls along with, Olive Garden Holdings, LLC and its subsidiaries, 843 Olive Garden Restaurants. Olive Garden Holdings, LLC owns and operates ______ of those 840 restaurants and will own and operate most new Olive Garden restaurants going forward. In addition, GMRI, Inc. owns and controls as its primary restaurant operating subsidiaries, Bahama Breeze Holdings, LLC ¬¬(37 locations), Seasons 52 Holdings, LLC (40 locations), Eddie V’s Holdings, LLC (13 Eddie V’s, locations and 3 Wildfish locations) Capital Grille Holdings, Inc. (54 locations), RARE Hospitality International, Inc. (Longhorn Steakhouse) (481 locations) and Yard House USA, Inc., which owns and operates directly or through its subsidiaries all of the Yard House restaurants (65 locations). As of May 29, 2016 each of the above owned through their subsidiaries, all of the restaurants of the brand indicated in the above