On August 10, 2021, Good Times Restaurants Inc.(the “Company”)
issued a press release announcing that it expects to commence a tender offer to purchase up to $6.5 million in value of its common stock,
at a cash price of $4.60 per share of common stock, on August 13, 2021 or soon thereafter. A copy of the press release is filed as Exhibit
99.1 hereto and is incorporated herein by reference.
Also on August 10, 2021, the Company is making additional communications
regarding the tender offer in its quarterly report on Form 10-Q for the period ended June 29, 2021, and in its earnings call related to
the same period, which communications are filed herewith as Exhibits 99.2 and 99.3, respectively, both of which are incorporated herein
by reference.
Additional Information Regarding the Tender Offer
This communication is for informational purposes only, is not
a recommendation to buy or sell the Company’s common stock, and does not constitute an offer to buy or the solicitation of an offer
to sell common shares of the Company. The tender offer described in this communication has not yet commenced, and there can be no assurances
that the Company will commence the tender offer on the terms described in this communication or at all. The tender offer will be made
only pursuant to an offer to purchase, letter of transmittal and related materials that the Company expects to distribute to its shareholders
and file with the Securities and Exchange Commission (“SEC”) upon commencement of the tender offer. SHAREHOLDERS ARE URGED
TO CAREFULLY READ THE OFFER TO PURCHASE, LETTER OF TRANSMITTAL AND RELATED MATERIALS WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN
IMPORTANT INFORMATION, INCLUDING THE VARIOUS TERMS OF, AND CONDITIONS TO, THE TENDER OFFER, THAT SHAREHOLDERS SHOULD CONSIDER BEFORE MAKING
ANY DECISION REGARDING TENDERING THEIR SHARES. Once the tender offer is commenced, shareholders will be able to obtain a free copy of
the tender offer statement on Schedule TO, the offer to purchase, letter of transmittal and other documents that the Company expects to
file with the SEC at its website at www.sec.gov, from the Company at 651 Corporate Circle, Suite 200, Golden, CO 80401, (303) 384-1400,
or by or by calling the Information Agent (to be identified at the time the offer is made) for the tender offer.
Forward-Looking Information
Certain statements and information included in this Form 8-K
and attached press release constitute "forward-looking statements." Such forward-looking statements include statements that
look forward in time or express management’s beliefs, expectations or hopes, including without limitation, our belief regarding
the benefits of the tender offer and its anticipated timing and funding. These statements involve known and unknown risks, uncertainties
and other factors which may cause the actual results to be materially different from any future results, performance or achievements expressed
or implied in such forward-looking statements.
These risks include material changes in our stock price or in
market conditions in general, as well as risks impacting our business in general, such as the disruption to our business from the novel
coronavirus (COVID-19) pandemic and the impact of the pandemic on our results of operations, financial condition and prospects, which
may vary depending on the duration and extent of the pandemic and the impact of federal, state and local governmental actions and customer
behavior in response to the pandemic, the impact and duration of staffing constraints at our restaurants, the uncertain nature of current
restaurant development plans and the ability to implement those plans and integrate new restaurants, delays in developing and opening
new restaurants because of weather, local permitting or other reasons, increased competition, cost increases or shortages in raw food
products, and other matters discussed under the Risk Factors section of Good Times’ Annual Report on Form 10-K for the fiscal year
ended September 29, 2020 filed with the SEC, and other filings with the SEC. Good Times disclaims any obligation or duty to update or
modify these forward-looking statements.