Roth Capital Growth Conference ROTH Capital Growth Conference

Roth Capital Growth Conference ROTH Capital Growth Conference February 19, 2008 1

Forward Looking Statements made in this presentation or otherwise attributable to the company regarding the company's business which are not historical fact are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The company cautions investors that such statements are estimates of future performance and are highly dependent upon a variety of important factors that could cause actual results to differ materially from such statements. Such factors include, but are not limited to variability in financing costs; quarterly variations in operating results; dependence on key customers; international exposure; foreign exchange and political risks affecting international sales; changing market conditions; the impact of competitive products and pricing; the timely development and market acceptance of the company's products; the availability and cost of raw materials; and other risks detailed herein and from time-to-time in the company's SEC filings. 2

Middleby Corporation Executive Summary u The Middleby Corporation is the worldwide leader in the manufacture and distribution of a broad line of Cooking, Warming and Preparation Equipment for the commercial restaurant industry and food processors u Headquartered in United States (Chicago, Illinois) u Publicly traded on US stock exchange (symbol: MIDD) u $500+ million in annual revenue u 1, 600 employees u 12 Worldwide Manufacturing Facilities – 11 US Facilities – 1 European Facility – 2 Asian Facilities 3

Key Company Highlights u Market Leader of Foodservice Equipment – #1 or #2 market position in U. S. across most product lines u Established Well-Respected Brands – Premium brands recognized for innovative technology, efficiency and quality u Premier Customer Base – Aligned with leading U. S. and international restaurant chains and food processors u Positioned for Growth – Strong pipeline of new differentiated products – Focus on higher growth segments across diverse end markets u Unique Global Footprint – International sales and service infrastructure provides attractive opportunities in emerging markets u Strong Profitability And Commitment to Operational Excellence – Ongoing success in process improvements u Successful Track Record of Growth through Acquisitions 4

Record Sales and Earnings Growth Earning Growth ($ in millions) Middleby Financial Performance Sales Growth through Product Innovation and Acquisition of Industry Leading Brands 5

Strong Relationships with Premier Customers u Blue-chip, customer base u Long standing relationships u Limited customer concentration u Large installed base u Serve all food segments 6

Revenue Breakdown Commercial Foodservice and Food Processing Expanding Business Segments 7

Commercial Foodservice Market Leader Middleby has leading brands and technology in the foodservice equipment industry U. S. Hot-side Foodservice Equipment Market by Product (1) u The commercial cooking equipment market is in excess of $3. 0 Billion. u Highly fragmented u Middleby focus on Brands and Technology – Equipment in the restaurant and critical the success of the restaurant. – Equipment specification and purchasing decisions driven by chef / operator – Product pricing driven by differentiated technology ______________ 1. Source: North American Association of Food Equipment Manufacturers and management estimates. 8

Market Leading Brands - Foodservice Brand Product U. S. Market Position Representative Customers n Papa John’s, Pizza Hut, Domino’s, Costco, Red Lobster, Olive Garden n Conveyor Ovens #1 n Fryers Rethermalizers #2 #1 n KFC, Dunkin’ Donuts, Mc. Donald’s, Taco Bell Convection Ovens Combi-ovens Deck Ovens #1 #2 #2 n KFC, Burger King, Cracker Barrel, Cheesecake Factory Ranges Upright Boilers #2 #1 n Morton’s, Wendy’s, Bob Evans Charbroilers Griddles #2 #2 n Outback Steakhouse, Applebee’s, Culver’s Baking Ovens Proofers #1 #1 n Subway, Bob Evans n n n n n We succeed due to strong brands, product innovation, service and support and our 9 continuous commitment to quality

Market Leading Brands - Foodservice (cont) Brand Product U. S. Market Position Warming Cabinets Cook and Hold Banquet Carts #1 #2 #2 Infrared Ovens Hearth Bake Conveyors #1 #1 Cooking Suites Ranges Custom Cooking #1 #3 #1 n Ventless Cooking Warming Equipment Pressure Fryers #1 #1 #3 n Combi-ovens #5 n n n n n Representative Customers n Mc. Donalds, Dunkin Donuts n Telepizza n Cheesecake Factory, PF Changs n KFC, Mc. Donalds, Waffle House n Tesco, Morrisons We succeed due to strong brands, product innovation, service and support and our continuous commitment to quality 10

Market Leading Brands - Foodservice (cont) Brand Product U. S. Market Position Representative Customers #1 #1 n n Counter line Equipment Panini Grills 7 -Eleven, QT Express, Taco Bell n Toasters #1 n Chipotle, Panera Bread, Quizno’s n Marine Equipment #1 n Carnival Cruise Ships n We succeed due to strong brands, product innovation, service and support and our continuous commitment to quality 11

Middleby Brand Products We offer a comprehensive line of innovative foodservice equipment Conveyor Oven ¾ Automated oven with energy management system Range ¾ Non-clog burner and water proof controls Combi Oven ¾ Combination steam and Convection Oven ¾ No-turn bake capabilities Fryer ¾ Highest efficiency burner convection in one cavity Infrared Broiler ¾ Used by the best steakhouses in the world Steamer ¾ Boilerless, no-lime steamer Baking Oven ¾ V-air technology cooks bread in less than 15 minutes 12

Food Processing Industry Middleby has leading brands and technology in the food processing equipment industry U. S. Hot-side Foodservice Equipment Market by Product (1) u The food processing equipment market is in excess of $1. 5 Billion. u Highly Fragmented u Middleby focus on Brands and Technology – Equipment specification and purchasing decisions driven by operators and engineers – Product pricing driven by differentiated technology ______________ 1. Source: Management estimates. 4 13

Market Leading Brands – Food Processing Brand Product U. S. Market Position Representative Customers Batch Ovens Continuous Ovens Belt Ovens #1 #1 #2 n Sara Lee, Smithfield n Food Packaging Equipment #2 n Kraft, Hormel n Conveyorized Breaders Battering Equipment Forming Slicing #2 #1 #2 #2 n Tyson, Pilgrims Pride, Keystone Foods, OSI n n n We succeed due to strong brands, product innovation, service and support and our continuous commitment to quality 14

Middleby Growth Drivers u Favorable Industry Dynamics u New Product Pipeline u Acquisitions u International Expansion 15

Favorable Industry Dynamics Many factors supporting growing demand for foodservice equipment n Replacement of Existing Equipment Expansion of International Markets Rising Foodservice Operator Costs Baby boomer generation approaching retirement n Growth in fast casual dining and breakfast n Emergence of co-branding process is gaining steam Expansion of new menu items driving purchases of new foodservice equipment n On-premise baking more prevalent n Growing awareness of nutrition implemented through low carb diets and increased presence of salads with grilled meat and fish n Average lifespan of foodservice equipment is ~8 years n Large installed base (over 850, 000 establishments in US) n Replacement represents approximately one-third of the market n Menu Changes Percentage of household income spent on food prepared outside the home is increasing n New Restaurant / Store Openings n n Favorable Demographics Dual income families continue to eat out Trend in eating out gaining momentum n Rapid growth in developing nations such as China and India n U. S. chain concepts expanding internationally n Foodservice operators demanding greater productivity through automation n Need for equipment with greater energy cost savings n Increased cost of trans-fat free oil 16

New Products Driving Growth We are committed to meeting changing customer needs Recent Innovations Customer Demand ¾ Speed ¾ ¾ Energy/Cost Savings Automation/Efficiency Safety ¾ ¾ ¾ No-turn bake convection oven High speed conveyer with 25% reduction in cooking time Hydrovection ovens New energy management system technology High efficiency fryers Self cleaning ovens Advanced controls Auto shut-off pilots in ranges Waterproof controls Our Success We Introduce More than 10 Innovative New Products Each Year 17

New Product Pipeline - Foodservice 2008 Introductions 2007 Introductions u Mini WOW! Oven u High H Oven u Rethermalizer u Hydrovection Oven u Solstice Supreme Fryer u Rocket Fryer u Redesigned Combi-Ovens u Ventless Hood u 500 Series Range u Pressure Fryer u Tanduri Oven u Visual Cooking Combi-Ovens u Revolving Tapinyaki Griddle u Samooza Fryer New Products Represent more than 20% of Net Sales 18

New Product Pipeline – Food Processing 2007 Introductions u Cyclone u Flash Belt Oven Pasteurization 2008 Introductions u Conveyor Fryer u Co-Extrusion u Mid-Size J-Con Oven u Forming Equipment u Wireless Controls u Intellijet Water Cutter New Products Typically Carry Profit Margins >5% Higher than existing Products 19

Acquistion Strategy u Acquire Leading Brands and Technologies • Established Market Positions • Differentiated Products • Higher Profit Margin u Increase Operating Efficiency • Eliminated Unprofitable SKU’s • Focus on Core Products • Streamline Production and Administrative Processes u Realize Synergies • • Increased Purchasing Leverage Utilization of Middleby Low Cost Production Facilities Leverage Sales and Distribution Network Leverage Existing Chain Relationships Creating the Premier Foodservice Equipment Company 20

Middleby Worldwide Executive Summary u Middleby Worldwide is the sales, service and distribution arm supporting the Middleby Brands internationally in over 100 countries. Middleby Worldwide has company owned operations in key markets around the world. u Middleby Owned Sales and Service Offices in Key Markets: – Mexico – Australia – UK – Spain – Sweden – China – India – Korea – Taiwan – Philippines – Mid-east – Russia 21

Global Reach Mississauga, Ontario, Canada # of Employees: 2 Bilbao, Spain # of Employees: 11 Manchester, UK # of Employees: 20 Delhi, India # of Employees: 5 Seoul, South Korea # of Employees: 11 Shanghai, China # of Employees: 14 Taipei, Taiwan # of Employees: 7 Manila, Philippines # of Employees: - Manufacturing: 95 - Sales & Dist. : 16 Mexico City, Mexico # of Employees: 26 Manufacturing facility, sales office and test kitchen Sales office with test kitchen Sales office only Key Advantages u u Test kitchens throughout the world allow Middleby to educate customers of the benefits of its equipment through hands-on experience and training Worldwide service is critical and highly valued by U. S. chains expanding into international markets Worldwide sales infrastructure allows direct contact with key decision makers, especially in high-growth markets Philippines and China manufacturing capabilities provides regional presence in high-growth 22 Asian markets

Financial Themes u Top Line Growth – Positioned in faster growing segments – Continued new product innovation – Acquisition growth u Focus on Operating Margins – Standardization of product platforms – Strategic supply chain initiatives – Integration of recent acquisitions u Strong Balance Sheet – Continued debt reduction – Capacity to pursue strategic acquisitions 23

Key Investment Highlights u Market Leader of Foodservice Equipment u Established Well-Respected Brands u Premier Customer Base u Positioned for Growth u Unique Global Footprint u Strong Profitability and Commitment to Operational Excellence u Successful Track Record of Growth through Acquisitions u Experienced and Proven Management Team 24