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This presentation includes "forward-looking statements" within the meaning of the federal securities laws, commonly identified by such terms as “looking ahead,” “anticipates,” “estimates” and other terms with similar meaning. Although the Company believes that the assumptions upon which the financial information and its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company’s filings with the Securities and Exchange Commission on Forms 10-K and 10-Q. These factors include, among others, our ability to open new restaurants and expand into existing or new markets; delay or failure of new restaurants to achieve profitability; increases in costs and seasonality; cost or availability of labor; possibility of inadequate systems to support our growth; geographic concentration of our restaurants; impact of price increases on guest visits and changes in consumer preference. All forward-looking statements in this presentation are expressly qualified by such cautionary statements and by reference to the underlying assumptions. These statements are not guarantees of future performance and therefore undue reliance should not be placed on them.We do not undertake to publicly update forward-looking statements, whether as a result of new information, future events or otherwise.

Forward-Looking Statement

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Concept Overview

Unique brand positioningOffer high quality, imaginative menu itemsCreate a fun and memorable dining experienceProvide exceptional dining value with broad consumer appeal

Capitalize on key demographic trends

Significant growth opportunity

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The Same Great MenuThe Same Great Menu

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Imaginative Menu ItemsImaginative Menu Items

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Imaginative &Cravable Food

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Imaginative &Cravable Food

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Imaginative &Cravable Beverages

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Unique Brand Positioning

Family-friendly atmosphere attracts teens, tweens, and high-income women

Uniquely positioned between casual dining & fast-casual

$11.15 2007 YTD average check – one of the lowest in the industry37-42 minute dining experience

“We wait on our guest, they neverwait on us”

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Unique Brand Positioning Perceptual Map

Source: Red Robin USA: Perceptual Map Analysis; by Data Development Worldwide, February 2007.

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Key Demographics

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Unique Brand Positioning

$11.50 $11.55$12.45 $12.69 $12.98 $13.37

$15.00

$18.00

$11.15

Red RobinGourmetBurgers

RubyTuesday

Applebee's Chili's O'Charley's TGIFriday's

CaliforniaPizza

Kitchen

OliveGarden

RedLobster

Strong Value PropositionLow Average Check Drives Customer Traffic

at Lunch (50%) and Dinner (50%)

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Unique Brand Positioning70% of family meal decisions heavily influencedby teens/tweens

Red Robin averages more guests under 18 thanthe casual-dining average

26%21% 24% 21%

20%24%

13%17% 16% 14%

18% 20%

6% 10% 12% 13%

28% 22% 24% 22% 22% 17%

26%28%35%29%30%26%

7% 8%

Red Robin Applebees Chili's TGIF Olive Garden Casual Dining

<18 18-34 35-49 50-64 65+

Demographic Comparison - Age

Crest, The NPD Group, year-end 2007

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Unique Brand PositioningStrong brand loyalty - one third of guests generateover 70% of business

Attract high income families, including women,teens and tweens

25%

27%26% 23%

31%25%

19%

16%16% 16%

12%17%

35%24%

33% 33% 27% 32%

11%12%13%9%14%8%

13%19%

16%15% 19% 16%

Red Robin Applebees Chili's TGIF Olive Garden Casual Dining

less than $25,000 $25,000 - 45,000 $45,000 - 75,000 $75,000 - 100,000 $100,000 +

Household Income: Distribution of Guests

Crest, The NPD Group, year-end 2007

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Extremely popular with developers

Customer base overlaps with specialty retail

High unit volumes and a low average check translate into strong guest traffic

Few pure competitors in casual-dining

Specialty retail is focused on high income women, teens & tweens

Red Robin delivers the specialty retail customer

Unique Brand Leads toStrong Growth Opportunities

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Growth Opportunities

Disciplined growth strategy balancing further penetrating existing markets & opening in new markets

Significant growth potential in the U.S. through both Company-owned and franchised units

Company-owned

2008: 30-33 units

Franchise

Support build out of existing franchise partners

Expect 9-11 units in 2008

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391604 622 651

879

1,839

1,260

Red Robin TGI Friday's OliveGarden

Red Lobster RubyTuesday

Chili's Applebee's

Substantial New Unit Opportunity to Expand Chain in U.S.

Note: Total North American locations as per recent SEC filings or company website disclosures

Growth Opportunities

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Diverse Food &Beverage Offerings

Q4 2007 Food Sales

Non AlcoholicBeverages

13.6%

Alcoholic Beverages

6.8%

Food79.6%

* Includes Chicken, fish, turkey, pot roast, veggie and other

Kids Menu7%

Sandwiches9%

Salads9%

Entrees8%

Other Burgers*

17%

Beef Burgers36%

Appetizers11%

Desserts1%

Soups2%

Q4 2007 Total Sales

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Average Unit Volume –Distribution

19%

58%

23%

<$2.5m $2.5m-$4.0m >$4.0m

2007 Comp Base of Restaurants has Significant Room for AUV Improvement

Note: 2007 Comp AUV = $3.3M

23Minimal Exposure to Fluctuations in Commodity Prices

2007 vs 2006 Commodity Costs as a Percentage of Food Sales

24.5%

5.2%

4.1%

2.9%

3.0%

2.4%

2.1%

2.1%

1.0%

1.1%

0.6%

24.3%

5.4%

4.2%

2.9%

2.9%

2.2%

1.9%

2.0%

1.1%

1.2%

0.5%

Total

Other (a)

Poultry

Produce

Hamburger

Steak Fries

Cheese

Bread

Meat

Seafood

Fry Oil

FY 2007 FY 2006(a) Other includes canned and dry goods and dairy products

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2007 Commodity Landscape

% of Sales% of Food & Beverage Costs Spot or Contract?

Poultry 3.2% 13.5% Contract thru 12/09Hamburger 2.4% 10.0% Contract thru 12/08Produce 2.3% 9.8% MixedFries 1.9% 8.0% Contract thru 11/08Bread 1.7% 7.0% Contract thru 8/08Cheese 1.7% 7.0% Contract thru 4/08Seafood 0.9% 3.9% Contract thru 12/08Meat 0.9% 3.9% Contract thru 12/08Dairy 0.5% 1.9% MixedOther/Misc 4.2% 17.9% MixedNon-Alcoholic 2.6% 11.0% Contract thru 2011Alcoholic 1.4% 6.1% MixedRebates -0.7%

Total Food & Beverage 23.0% 100.0%

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Strong Historical Financial Performance:

$ in millionsTotal Revenues

Net Income, before taxes*

Rest Level Operating Profit

Cash Flow from Operations

$23.4

$35.4 $41.2 $44.0 $47.0

2003 2004 2005 2006 2007

$403.4$324.1

$486.0

$618.7$763.5

2003 2004 2005 2006 2007

$61.6$84.3

$100.7$127.9

$153.0

2003 2004 2005 2006 2007

$54.4$44.0

$65.3$78.5

$93.6

2003 2004 2005 2006 2007

23%

24% 20%27%

20%

37%

51%

19%27%

7 %16%

7%19%

24%20%

20%

*NOTE: 2006 contains 53 weeks vs. 52 weeks in years 2003-2005 & 2007. 2006 includes 5.8M pretax FAS123R Expense and excludes $1.7M pretax one time charge for Washington acquisition. 2007 includes 6.9M pretax FAS123R expense and excludes $2.1M in one time charges for California acquisition and $1.65M for one-time legal settlement.

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2008 Guidance

SSS% = 2.0%-3.5%

Includes expected March 2008 price increase of 0.5% and a full year price/mix weighting of ~2.5%.

Revenue = $880.0M to $893.0M

GAAP EPS = $2.00-$2.20 per share

Includes $0.26-$0.28 impact from stock compensation expense

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2008 Guidance continued

Company Development = 30-33 units with 50% of operating weeks in new markets / 50% in existing markets.

Majority of openings in Q1-Q3.

Franchise Development = 9-11 units

Fairly evenly spread throughout the year.

National Marketing Campaign = Incremental 50bps in 2008 for a total restaurant contribution of 1.5%.

Current Initiatives

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Current Initiatives

The “NRO Normalcy” project is focused on retaining maximum honeymoon sales and accelerating the “normalization” of restaurant level profit margins.

Building cost reduction initiative to manage inflation on our construction costs and to continue our focus on improving ROIC.

Expand our national advertising campaign.

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NRO Normalcy -Leadership Selection

Implemented tools for selection of leaders

Identified seasoned leaders

2006 NRO Openings ~ 20% seasoned leaders

2007 NRO Openings ~ 70% seasoned leaders

2008 NRO Openings identified >90% seasoned leaders

31NRO Normalcy - Redefined & Strengthen Training

Improved “Manager-in-Training” programs

Instituted NRO workshops

“Heart-of-the-House” training certifications

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NRO Normalcy -Institutionalized into Operations

Creation of New Restaurant Development (NRD) Department1K Program (collaborative work flow tool)42 Day Building TurnoverSenior GMPre and Post Opening SupportNRO Budget Management

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Building Cost Reduction Initiative

Starting point full year 2005/early 2006 units average cost to build = $2.5 million

Phase 1: objective to reduce cost without impacting the guest experience

Phase 1 results = $150,000 savings in 99.12 prototype building

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Building Cost Reduction Initiative (con’t)

Phase 2: objective to develop a smaller prototype with same seating capacity.

2007A prototype ~5,600 sq. ft. with cost savings of an additional $150,000

75% of 2008 openings will include the 2007A prototype.

2008

Manage cost inflation.

Focus on continuous improvement of ROIC.

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National Advertising Fund

$18.0-$19.0 million budget for 2008.4 new commercials (same campaign) funded by Cooperative Advertising budget in 20071.5% NAF system-wide contribution

24 week national cable buy (+118% from 2007)Commenced February 4th and runs through mid November 2008.Will include 54% more cable GRPs than 2007Will have 73% more 30 second spots vs. 2007

Additional media10 second network spotsOnline network video

Internet AdvertisingJanuary – December Internet support

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National Advertising Fund -Benefits

Drives sales growth across system

Increases brand awareness and builds brand image (which protects pricing)

Generates new Guest trial

Jump-starts new markets

Builds system momentum and excitement

Adds a media layer of support to all markets and strengthens local community efforts

National Kid’s Burger recipe contestLocal Restaurant Marketing

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Company Highlights

Leader in casual dining serving gourmet burgers to America’s families

Unique brand positioning

Powerful demographics lead to great sites

Strong unit-level economics

Significant unit growth story

History of strong financial performance

Operations focused management team

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