Dave George and Jon Sagal of Starboard Value appointed to Bloomin’s Board

Bloomin’ Brands (BLMN) announced the appointment of Dave George, former Chief Operating Officer of Darden Restaurants (DRI), and Jon Sagal, Partner at Starboard Value together with certain of its affiliates, to the Company’s Board of Directors, effective immediately. These appointments have been made in connection with a cooperation agreement entered into between the Company and Starboard, which owns approximately 9.7% of the Company’s outstanding common stock, and reflect the Company’s ongoing commitment to constructive shareholder engagement. Jeffrey Smith, Chief Executive Officer and Chief Investment Officer of Starboard, commented, “Throughout the course of our engagement with Bloomin’ Brands, we have appreciated the collaborative and open dialogue we have had with members of the Board and management team. Bloomin’ Brands has a great portfolio of brands along with compelling growth levers and opportunities for value creation.” In addition, the Company today announced the formation of an Operating Committee of the Board. This Committee will work with management to identify and recommend opportunities for further improvement related to various corporate and operational matters. Dave George will serve as the Chair of the Committee, and Jon Sagal and current directors Mike Mohan and John Mahoney have been appointed as members. Under the cooperation agreement, Starboard has agreed to customary standstill, voting and other provisions. The full agreement between Bloomin’ Brands and Starboard will be filed on a Form 8-K with the U.S. Securities and Exchange Commission .