1. 1 The Middleby Corporation

2. 2 Financial Performance Sales ($ in millions) Gross Profit EBITDAEPS 30% CAGR 35% CAGR 45% CAGR 80% CAGR ($ in millions)

3. 3 46% 6-Yr CAGR Free Cash Flow 1 Free Cash Flow = EBITDA - Capital Expenditures Free Cash Flow 1 ($ in millions) Significant free cash flow generation

4. 4 Diverse and Stable Revenue Base End Market Pizza 10% QSR 10% Fast Casual 20% Casual 10% Independent 10% Institutional 10% Food Processing 10% International Food Service 20% Domestic Food Service Product Use New Store Openings 33% Menu Changes 33% Replacement & Maintenance 34% Majority in international markets Allows restaurants to differentiate themselves in a competitive market Installed base of aged equipment in 850,000 establishments Stable, diversified revenue base with exposure to high growth end markets and limited exposure to new U.S. restaurant openings

5. 5 Revenue Protection Value Added Offering Competitive Dynamics Cost Pressures Customer Need Middleby Offering The opportunity cost of a bad product can cripple a restaurant’s revenue. Equipment is used to compete effectively and lower customers’ most pressing costs. Middleby provides leading service with the industry’s best known brands. Middleby works with customers to introduce products that best meet their needs.  Quality/Reliability  Service  Premier brands in industry  Longest warranties/industry leading service  Test kitchens throughout world  Cooking speed  Adaptability to menu changes  Products offer fastest speed available  Dominant position in fast casual equipment  Food input costs  Labor & safety costs  Energy costs  Products extend life of expensive input costs  Many products are self-cleaning, reducing labor costs  Numerous products reduce energy costs by over 30%

6. 6 Value Added Offering (cont’d) Source: National Restaurant Association; Deloitte & Touch; Management Estimates 1 Assumes straight-line depreciation over 7-years. Yearly annual depreciation is less than 0.1% of cost structure. 2 Minimal maintenance spend in first 2-3 years, $500 per year thereafter 3 Pre-tax and financing Limited Service Restaurant Unit EconomicsIllustrative Middleby Product Economics Product represents 0.1% of cost structure, is immediately P&L accretive and provides attractive ROI/payback $1,428 % Sales Sales$2,200,000 100.0% Cost of Food & Beverage638,000 29.0%Pitco Fryer:$10,000 Gross Profit1,562,000 71.0% Salaries, Wages, Benefits667,000 30.3%Life:7 Years Direct Operating Expenses106,000 4.8% Marketing46,000 2.1%Deprecation Per Year:$1,428 Utilities68,000 3.1% Occupancy163,000 7.4%Deprecation/Sales:0.06% Repairs and maintenance37,000 1.7% Depreciation42,000 1.9% G&A55,000 2.5% Other/Corporate Overhead130,000 5.9% Operating Profit249,000 11.0%  Investment $10,000  Yearly Depreciation 1,2 $1,428  Yearly Savings – Food $800 – Labor $1,200 – Energy $3,600 $5,400  Other Savings – Safety – Speed – Less Downtime  IRR 3 50%  Payback period < 2 years

7. 7 Competitive Advantage  Focus on leading brands  Ability to transform acquired companies  Preferred purchaser Acquisition Capability  Strong relationships with dealers  Key partnerships w/leading chains  Only viable choice for many product categories  Emphasis on cross-selling Sales & Marketing  Industry leading service  “No-quibble” 10-year warranty  Test kitchens throughout world Service  Efficient operations & use of capital allows for 80%+ ROTIC  12 manufacturing facilities throughout the world  Focus on working capital management Manufacturing  Combined 200 years in industry  Strong performance culture  Equity ownership of >10% Management Team  Industry leading innovation process (“customer driving”)  Emphasis on quality  6-8 new products each year  Ability to measure customer savings Research & Development Global operating platform provides significant barriers to entry

8. 8 New Product Pipeline – Foodservice  Mini WOW! Oven  Rethermalizer  Solstice Supreme Fryer  Redesigned Combi-Ovens  500 Series Range  Tanduri Oven  Revolving Tapinyaki Griddle  High H Oven  Hydrovection Oven  Rocket Fryer  Ventless Hood  Pressure Fryer  Visual Cooking Combi-Ovens  Samooza Fryer 2007 Introductions 2008 Introductions New products represent more than 20% of net sales

9. 9 New Product Pipeline – Food Processing  Cyclone Belt Oven  Flash Pasteurization  Mid-Size J-Con Oven  Wireless Controls 2007 Introductions 2008 Introductions  Conveyor Fryer  Co-Extrusion  Forming Equipment  Intellijet Water Cutter New products typically carry profit margins >5% higher than existing products

10. 10 Investment Highlights  Leading value-added manufacturer of hot commercial food service and processing equipment (#1 or #2 market share in each product)  Products are critical to customers, represent small portion of their budgets, and provide high ROIs  Unique global operating platform provides significant barriers to entry  U.S. restaurant sales have never declined  Diversified revenue base with exposure to high growth end markets  Focus on continued operational improvements and margin expansion  Successful track record of creating significant value through acquisitions  Long-term annual EPS growth target of 20%, consistent with historical performance  Proven senior management team with decades of industry experience