The share repurchase program is effective immediately, does not have a fixed expiration date, does not obligate El Pollo Loco to repurchase any specific number of shares and may be expanded, modified, suspended or discontinued at any time. It permits shares to be repurchased from time to time at management's discretion through a variety of methods, including open market purchases, block trades, privately negotiated transactions, transactions pursuant to a 10b5-1 trading plan, or transactions otherwise in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended. The timing and number of shares repurchased will depend on a variety of factors, including price, general business, economic and market conditions, alternative investment opportunities, and funding considerations. The Company intends to fund the repurchases with existing cash, future cash flow from operations, future borrowings, or other sources of cash at the Company's discretion.