Panera Bread 2010 Annual Report Download - page 5

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Matters discussed in this annual report to stockholders and in our public disclosures, whether written or oral,
relating to future events or our future performance, including any discussion express or implied, of our anticipated
growth, operating results, future earnings per share, plans, and objectives, contain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of
1934. These statements are often identified by the words “believe,” “positioned,” “estimate,” “project,” “plan,”
“goal,” “target,” “continue,” “intend,” “expect,” “future,” “anticipate” and other similar expressions, whether in
the negative or the affirmative, that are not statements of historical fact. These forward-looking statements are not
guarantees of future performance and involve certain risks, uncertainties, and assumptions that are difficult to
predict. Our actual results and timing of certain events could differ materially from those anticipated in these
forward-looking statements as a result of certain factors, including, but not limited to, those set forth under “Risk
Factors” and elsewhere in this annual report to stockholders and in our other public filings with the Securities and
Exchange Commission. All forward-looking statements and the internal projections and beliefs upon which we base
our expectations included in this annual report to stockholders or other periodic reports are made only as of the date
made and may change. While we may elect to update forward-looking statements at some point in the future, we
specifically disclaim any obligation to update any forward-looking statement to reflect events or circumstances that
arise after the date such statement was made.