"SUPPORTING STATEMENT: Dear fellow shareholders,

Significant concerns have arisen about the Board’s oversight of climate change at Noodles & Co.

As background, Noodles has been communicating about its environmental responsibilities for years.

For example, its 2021 “Nourish & Inspire” report quoted EVP and General Counsel, Melissa Heidman, as saying, “In the same way that we care about and nourish our team members, guests, and communities, we believe we have a responsibility to support our planet and contribute to making the future brighter for generations to come.” 1

Ms. Heidman also said the company was “taking steps to measure and reduce our environmental impact across all areas of our business.”

As well, Noodles’ 2022 proxy statement said the Board’s “Nominating and Corporate Governance Committee oversees sustainability (including climate-change).”

But despite the Board’s oversight and Ms. Heidman’s previous statement about measuring and reducing its environmental impact, the company hasn’t disclosed any greenhouse gas (“GHG”) emissions data or measurable targets for reducing emissions, setting it apart from countless other companies which do disclose their emissions and have set measurable reduction targets.

McDonald’s, for example, has joined the United Nations’ Race to Zero campaign, committing to put it “on the path to net zero emissions by 2050” and has extensive disclosures regarding its emissions (and reductions) for Scopes 1, 2, and 3 emissions.

Climate change is, of course, a highly significant (and material) policy matter. And since neither the Board’s oversight of climate change nor the company’s efforts to measure its environmental impacts have thus far led Noodles to disclose either GHG emissions data or measurable goals for reducing them, we think shareholder intervention is now needed.

Filed by the Accountability Board.