Emanuel Hilario, President, CEO & Director

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Kona Grill is excited to announce a new premium holiday menu focused on Wagyu and premium seafood. This development aligns with today’s selective diners who are more intentional about their choices when dining out.

Strategic Menu Expansion
At Kona Grill, we are carefully expanding our menu to reduce reliance on categories currently facing market pressures. Historically, our brand has been centered around seafood, sushi, and our distinctive bar experience. However, we are experiencing headwinds in these core areas. To adapt, our menu diversification introduces broader culinary options that appeal to more frequent dining occasions and are less sensitive to economic fluctuations.

Loyalty Program Growth
Our Friends with Benefits loyalty program continues to gain momentum, now exceeding 6.5 million members. During the recent quarter, we added over 200,000 new members. Importantly, newly enrolled guests are demonstrating the most repeat participation in the program.

Our focus is on developing a best-in-class loyalty program that fuels long-term business growth. The key objectives for Friends with Benefits are:
1. Maximize membership size by converting members from other TOG marketing programs.
2. Drive organic sign-ups through increased awareness and engagement.
3. Increase member engagement within the program to strengthen brand connection and encourage repeat visits.

Digital Enhancements and Website Upgrades
We have also upgraded our brand websites — Benihana, STK, Kona Grill, and RA Sushi — to feature fresh, mobile-optimized designs. These improvements are resulting in increased traffic and higher conversion rates.

Together with our enhanced digital platforms and loyalty program, we are well-positioned to compete effectively as national chains ramp up their presence.
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