Shake Shack Inc. : Announces Launch of Proposed Initial Public Offering

Shake Shack Inc. (“Shake Shack” or the “Company”) today announced that it has commenced an initial public offering of 5,000,000 shares of its Class A common stock (the “Offering”) pursuant to a registration statement filed on Form S-1 with the Securities and Exchange Commission. In connection with the Offering, the Company intends to grant the underwriters the option to purchase up to 750,000 additional shares of its Class A common stock. The estimated price range for the initial public offering is $14.00 to $16.00 per share of Class A common stock. Shake Shack has applied to list its Class A common stock on the New York Stock Exchange under the symbol “SHAK”. Following the offering, Shake Shack will be a separate company from the privately held Union Square Hospitality Group.

J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are acting as joint lead book-running managers in the proposed offering. Barclays Capital Inc., Goldman, Sachs & Co., and Jefferies LLC are also acting as book-running managers in the proposed offering. William Blair & Company, L.L.C. and Stifel are acting as co-managers in the proposed offering.

The offering will be made only by means of a prospectus. A copy of the preliminary prospectus related to the offering may be obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by calling toll-free at [phone]; or Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, NY 10014, Attention: Prospectus Department.

A registration statement on Form S-1 relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Shake Shack

Shake Shack® is a modern day “roadside” burger stand known for its delicious burgers, hot dogs, frozen custard, crinkle cut fries, beer, wine and more. With its fresh, simple, high-quality food at a great value, Shake Shack is a fun and lively community-gathering place with widespread appeal. From its premium ingredients and progressive hiring practices to its environmentally responsible designs and deep community investment, Shake Shack’s mission is to Stand For Something Good®. Since the original Shack opened in 2004 in NYC’s Madison Square Park, the Company has opened multiple locations in New York, New Jersey, Washington, DC, Connecticut, Georgia, Illinois, Pennsylvania, Florida, Massachusetts, Virginia, Nevada, and international locations including in London, Istanbul, Dubai, and more.