Company: JACK
Filing Date: 2025-11-14
Form Type: DFAN14A
Source: 0000921895-25-003125
Chunk: 1

Company: JACK IN THE BOX INC
Filing Date: 2025-11-14
Form: DFAN14A
Chunk 1
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 a Delaware corporation.

On November 14, 2025, Biglari
posted the following to X (formerly known as Twitter):

<div align='center'>Certain Information Concerning the Participants</div>

Biglari Capital Corp., together with the other
participants named herein (collectively, “Biglari”), intends to file a preliminary proxy statement and accompanying GOLD
universal proxy card with the SEC to be used to solicit votes for the election of Biglari’s highly-qualified director nominees at
the 2026 annual meeting of stockholders of the Company.

BIGLARI STRONGLY ADVISES ALL STOCKHOLDERS OF
THE COMPANY TO READ THE PROXY STATEMENT AND OTHER PROXY MATERIALS AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION.
SUCH PROXY MATERIALS WILL BE AVAILABLE AT NO CHARGE ON THE SEC’S WEB SITE AT HTTP://WWW.SEC.GOV. IN ADDITION, THE PARTICIPANTS IN
THIS PROXY SOLICITATION WILL PROVIDE COPIES OF THE PROXY STATEMENT WITHOUT CHARGE, WHEN AVAILABLE, UPON REQUEST. REQUESTS FOR COPIES SHOULD
BE DIRECTED TO THE PARTICIPANTS’ PROXY SOLICITOR.

The participants in the proxy solicitation
are anticipated to be Biglari Capital Corp. (“BCC”), The Lion Fund, L.P. (“TLF”), The Lion Fund II, L.P. (“TLF
II”), Biglari Holdings Inc. (“BH”), First Guard Insurance Company (“First Guard”), Southern Pioneer Property
and Casualty Insurance Company (“Southern Pioneer”), Biglari Reinsurance Ltd. (“Biglari Reinsurance”), Biglari
Insurance Group Inc. (“Biglari Insurance”), Western Sizzlin Corporation (“Western Sizzlin”), Steak n Shake Inc.
(“Steak n Shake”), Sardar Biglari and Douglas Thompson.

As of the date hereof, TLF beneficially owns
directly 542,700 shares of Common Stock, TLF II beneficially owns directly 1,140,952 shares of Common Stock, Southern Pioneer beneficially
owns directly 106,317 shares of Common Stock, First Guard beneficially owns directly 21,900 shares of Common Stock, Biglari Reinsurance
beneficially owns directly 20,000 shares of Common Stock and Western Sizzlin beneficially owns directly 52,400 shares of Common Stock.
BCC, as the general partner of TLF and