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The Middleby Corporation

June 3, 2008

Sidoti Fifth Annual Boston Emerging Growth Institutional Investor Forum

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Forward Looking Statements

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.

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Investment Highlights

Leading value-added manufacturer of hot commercial food service and

processing equipment (#1 or #2 market share in each product)

Products are critical to customers, represent small portion of their budgets,

and provide high ROIs

Unique global operating platform

U.S. restaurant sales have never declined

Diversified revenue base with exposure to high growth end markets

Focus on continued operational improvements and margin expansion

Successful track record of creating significant value through acquisitions

Proven senior management team

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The Middleby Corporation is the worldwide leader in the manufacturing and distribution of a broad line of cooking, warming and preparation equipment for the commercial restaurant and food processing industries

Headquartered in United States (Chicago, Illinois)

Publicly traded on U.S. stock exchange (NASDAQ symbol: MIDD)

$500 million in annual revenue, 2007

1,200 employees worldwide

15 worldwide manufacturing facilities– 12 U.S. Facilities– 3 European Facilities– 2 Asian Facilities

Company Snapshot

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Financial Performance

Sales

($ in millions)

Gross Profit

EBITDA EPS

$101.6

$229.1 $242.2$271.1

$316.7

$403.1

$500.5

2001 2002 2003 2004 2005 2006 2007

$32.4

$78.5 $85.9$102.6

$121.7

$156.9

$192.4

2001 2002 2003 2004 2005 2006 2007

$10.6

$28.7$39.0

$46.1

$63.1

$81.8

$99.3

2001 2002 2003 2004 2005 2006 2007

$0.09$0.33

$1.00$1.19

$1.99

$2.56

$3.11

2001 2002 2003 2004 2005 2006 2007

30% CAGR

35% CAGR

45% CAGR

80% CAGR

($ in millions)

($ in millions)

Financial Performance

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$81.8

$99.3

$10.2

$27.6

$38.0

$44.9

$61.7

2001 2002 2003 2004 2005 2006 2007

46% 6-Yr CAGR

Free Cash Flow

1Free Cash Flow = EBITDA - Capital Expenditures

Free Cash Flow1

($ in millions)

Significant free cash flow generation

Free Cash Flow

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Company Breakdown

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Diverse and Stable Revenue Base

End Market

Pizza 10%

QSR 10%

Fast Casual 20%

Casual 10%

Independent 10%

Institutional 10%

Food Processing 10%

International Food Service 20%

DomesticFood

Service

Product Use

New Store Openings

33%

Menu Changes

33%

Replacement & Maintenance

34%

Growing international markets

Allows restaurants to differentiate themselves in a competitive market

Installed base of aged equipment in 850,000 establishments

Stable, diversified revenue base with exposure to high growth end markets and limited exposure to new U.S. restaurant openings

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Industry Leading Brands - Foodservice

#1 in Pizza Chains

#1 in Convenience Stores

#1 in Fast Casual

#1 in Deli and Sandwich Shops

#1 in Steakhouses and Seafood

#1 in Chicken Outlets

#1 in Pan-Asian Cuisine

#2 in QSR

#2 in Casual Dining

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Industry Leading Brands – Food Processing

#1 in Sausages, Hot Dogs and Ham

#1 in Chicken Preparation

#2 in Bacon

#2 in Burger Patties

#2 in Meat Packaging

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Disruptive Technologies

Wow Oven Hydrovection Oven Visual Cooking Solstice Fryer

500 Series Range Ventless Hoods Enduraheat Rhapsody Oven

Automated oven with energy management system

Combination steam and convection in one cavity

Most energy efficient oven Self cleaning burner

Non-clog burner and water proof controls

Used by the best steakhouses in the world

Utilizing induction to hold food for extended periods

V-air technology cooks bread in less than 15 minutes

We focus on the development of innovative foodservice equipment

KI AWARD KI AWARD

KI AWARD

KI AWARD

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Value Added Offering

Source: National Restaurant Association; Deloitte & Touch; Management Estimates 1 Assumes straight-line depreciation over 7-years. Yearly annual depreciation is less than 0.1% of cost structure.2 Minimal maintenance spend in first 2-3 years, $500 per year thereafter3 Pre-tax and financing

Limited Service Restaurant Unit Economics Illustrative Middleby Product Economics

Product represents a small investment and provides an attractive ROI/payback

$1,428

% Sales

Sales $2,200,000 100.0%

Cost of Food & Beverage 638,000 29.0% Pitco Fryer: $10,000

Gross Profit 1,562,000 71.0%

Salaries, Wages, Benefits 667,000 30.3% Life: 7 Years

Direct Operating Expenses 106,000 4.8%

Marketing 46,000 2.1% Deprecation Per Year: $1,428

Utilities 68,000 3.1%

Occupancy 163,000 7.4% Deprecation/Sales: 0.06%

Repairs and maintenance 37,000 1.7%

Depreciation 42,000 1.9%

G&A 55,000 2.5%

Other/Corporate Overhead 130,000 5.9%

Operating Profit 249,000 11.0%

Investment $10,000 Yearly Depreciation1,2 $1,428

Yearly Savings – Labor $1,200– Energy $4,200

$5,400 Other Savings

– Safety– Speed– Less Downtime

IRR3 50%

Payback period < 2 years

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Premier Customers

Blue-chip customer base

Long standing relationships

Limited customer concentration

Large installed base

Serve all food segments

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Global Reach

Test kitchens throughout the world allow Middleby to educate customers on 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 Asian markets

Manufacturing facility, sales office and test kitchen Sales office with test kitchen Sales office only

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

Key Advantages

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Competitive Advantage

Focus on leading brands Proven ability to transform acquired companies Preferred purchaser

Acquisition Capability

Strong relationships with dealers Key partnerships w/leading chains Only viable choice for many product

categories Emphasis on cross-selling

Sales & Marketing

Industry leading customer service “No-quibble” warranty Test kitchens throughout world

Service

Efficient operations & use of capital allows for 80%+ ROTIC 15 manufacturing facilities throughout the world Focus on working capital management

Manufacturing

Experienced and proven to deliver results Strong performance culture Equity ownership of >10%

Management Team

Industry leading innovation process (“customer driving”) Emphasis on quality 6-8 new products each year Ability to measure customer savings

Research & Development

A differentiated business model

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New Product Pipeline - Foodservice

Mini WOW! Oven

Rethermalizer

Solstice Supreme Fryer

Plancha and Satay Ovens

500 Series Range

Tanduri Oven

Endura Heat

2007 Introductions 2008 Introductions

High H Oven

Hydrovection Oven

Rocket Fryer

Ventless Hood

Rhapsody Oven

Visual Cooking Combi-Ovens

Wall Oven Residential line

New Products Represent more than 20% of Net Sales

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New Product Pipeline – Food Processing

Cyclone Belt Oven

Flash Pasteurization

Mid-Size J-Con Oven

Wireless Controls

2007 Introductions 2008 Introductions

Conveyor Fryer

Co-Extrusion

Forming Equipment

Intellijet Water Cutter

New products typically carry profit margins >5% higher than existing products

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Financial Performance

Sales

($ in millions)

Gross Profit

EBITDA EPS

$101.6

$229.1 $242.2$271.1

$316.7

$403.1

$500.5

2001 2002 2003 2004 2005 2006 2007

$32.4

$78.5 $85.9$102.6

$121.7

$156.9

$192.4

2001 2002 2003 2004 2005 2006 2007

$10.6

$28.7$39.0

$46.1

$63.1

$81.8

$99.3

2001 2002 2003 2004 2005 2006 2007

$0.09$0.33

$1.00$1.19

$1.99

$2.56

$3.11

2001 2002 2003 2004 2005 2006 2007

30% CAGR

35% CAGR

45% CAGR

80% CAGR

($ in millions)

($ in millions)

Financial Performance

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Favorable Industry Dynamics

Dual income families continue to eat out, even in challenging economic times

Percentage of household income spent on food prepared outside the home is increasing

Baby boomer generation approaching retirement

Growth in fast casual dining and breakfast

Emergence of co-branding process is gaining steam

Expansion of new menu items driving purchases of new foodservice equipment

On-premise baking more prevalent

Growing awareness of nutrition implemented through low carb diets and increased presence of salads with grilled meat and fish

Average lifespan of foodservice equipment is ~8 years

Large installed base (over 850,000 establishments in U.S.)

Replacement represents approximately one-third of the market

Trend in eating out gaining momentum

Rapid growth in developing nations such as China and India

U.S. chain concepts expanding internationally

Foodservice operators demanding greater productivity through automation

Need for equipment with greater energy cost savings

Increased cost of trans-fat free oil

New Restaurant / Store Openings

Menu Changes

Favorable Demographics

Replacement of Existing Equipment

Expansion of International Markets

Rising Foodservice Operator Costs

Many factors support growing demand for foodservice equipment