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Dine Brands Global, Inc.

For the period ended Dec 28, 2025. Filed Feb 25, 2026.

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About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 25, 2026

DIN$37.22+3.8%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Item 2. —Properties

The table below shows the location and ownership type of IHOP, Applebee's, and Fuzzy's restaurants as of December 28, 2025:

Franchise · Company · Total Restaurants
IHOP(a) · Applebee's · Fuzzy's · IHOP · Applebee's · Fuzzy's
United States
Alabama1729————46
Alaska41————5
Arizona42201———63
Arkansas1741—2—24
California2241021———327
Colorado372216———75
Connecticut115————16
Delaware812————20
District of Columbia2—————2
Florida142784———224
Georgia8524——32—141
Hawaii6—————6
Idaho712————19
Illinois4130——2—73
Indiana2654——2—82
Iowa11251———37
Kansas30215———56
Kentucky1019—27—38
Louisiana24121———37
Maine612————18
Maryland5417————71
Massachusetts2124————45
Michigan2781————108
Minnesota8451———54
Mississippi11171—2—31
Missouri3139—13—74
Montana47————11
Nebraska714————21
Nevada2311————34
New Hampshire413————17
New Jersey4955————104
New Mexico1518————33
New York6291————153
North Carolina5237————89
North Dakota311————14
Ohio267519——111
Oklahoma35610—4—55
Oregon1716————33
Pennsylvania2874————102
Rhode Island56————11
South Carolina2626————52
South Dakota25————7
Tennessee3322——5—60
Texas2218961——1372
Utah209————29
Vermont—3————3
Virginia6745————112
Washington3740————77
West Virginia1014————24
Wisconsin2419————43
Wyoming—21———3
Total Domestic1,6721,413105125913,262
Franchise · Company · Total Restaurants
IHOP(a)Applebee'sFuzzy'sIHOPApplebee'sFuzzy'sTotal Restaurants
International
Bahamas11————2
Bahrain11————2
Brazil—10————10
Canada319————40
Costa Rica11————2
Dominican Republic—3————3
Ecuador8—————8
Egypt21————3
Guam11————2
Guatemala—4————4
Honduras11————2
India1—————1
Kuwait77————14
Mexico5530————85
Oman11————2
Pakistan3—————3
Panama34————7
Peru22————4
Puerto Rico87————15
Qatar47————11
Saudi Arabia714————21
United Arab Emirates33————6
Total International140107————247
Total1,8121,520105125913,509

(a) There are 142 IHOP restaurants operated by area licenses in the U.S. state of Florida, three in the U.S. state of Georgia and nine in Canada. Of those, there are two IHOP restaurants in Florida and five IHOP restaurants in Canada that have been sub-licensed by the area licensee.

Of the 1,658 IHOP restaurants operated by franchisees, 48 were located on sites owned by us, 473 were located on sites leased by us from third parties and 1,137 were located on sites owned or leased by franchisees. All of the IHOP restaurants operated by area licensees, 1,519 of the franchisee-operated Applebee's restaurants and all the franchisee-operated Fuzzy's restaurants were located on sites owned or leased by the area licensees or the franchisees. We owned one site on which a franchisee-operated Applebee's restaurant was located and no franchisee-operated Applebee's restaurant was located on a site leased by us from third parties. The 12 IHOP, 59 Applebee's and one Fuzzy's company-owned restaurants as of December 28, 2025 were located on sites leased by us from third parties.

Leases of IHOP restaurants generally provide for an initial term of 20 to 25 years, with most having one or more five-year renewal options. Leases of Applebee's restaurants generally have an initial term of 10 to 20 years, with renewal terms of five to 20 years. In addition, a substantial number of the leases for both IHOP and Applebee's restaurants include provisions calling for the periodic escalation of rents during the initial term and/or during renewal terms. The leases typically provide for payment of rents in an amount equal to the greater of a fixed amount or a specified percentage of gross sales. They also generally require payment of taxes, insurance premiums, maintenance expenses and certain other costs. Historically, it has been our practice to seek to extend, through negotiation leases that expire and do not contain renewal options. However, from time to time, we may choose not to renew a lease or are unsuccessful in negotiating satisfactory renewal terms. When this occurs, the restaurant is closed and possession of the premises is returned to the landlord.

Under our Applebee's and Fuzzy's franchise agreements, we have certain rights to gain control of a restaurant site in the event of default under the franchise agreement. Because substantially all IHOP franchised restaurants developed by us under our Previous IHOP Business Model are subleased to the franchisees, IHOP has the ability to regain possession of the subleased restaurant if the franchisee defaults in the payment of rent or other terms of the sublease.

We currently occupy approximately 93,000 square feet for our principal corporate offices and restaurant support center located in Pasadena, California, under a lease expiring in August 2035.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.