Shareholders Re-Elect All Biglari Holdings’ Director Nominees at 2015 Annual Meeting

Biglari Holdings Inc. (NYSE:BH) (“Biglari Holdings” or the “Company”) today announced that, based on a preliminary vote count provided by its proxy solicitor, shareholders have overwhelmingly elected all of the Company’s incumbent director nominees – Sardar Biglari, Philip L. Cooley, Kenneth R. Cooper, William L. Johnson, James P. Mastrian, and Ruth J. Person – at today’s 2015 Annual Meeting of Shareholders.

IVS Associates Inc., the independent Inspector of Elections, has indicated that it expects to issue certified results shortly, following the customary review and challenge period.

About Biglari Holdings Inc.

Biglari Holdings Inc. is a holding company owning subsidiaries engaged in a number of diverse business activities, including media, property and casualty insurance, as well as restaurants. The Company’s largest operating subsidiaries are involved in the franchising and operating of restaurants. All major operating, investment, and capital allocation decisions are made for the Company and its subsidiaries by Sardar Biglari, Chairman and Chief Executive Officer.

Risks Associated with Forward-Looking Statements

This news release may include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These statements which may concern anticipated future results are based on current expectations and are subject to a number of risks and uncertainties that could cause actual results to differ markedly from those projected or discussed here. Biglari Holdings cautions readers not to place undue reliance upon any such forward-looking statements, for actual results may differ materially from expectations. Biglari Holdings does not update publicly or revise any forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized. Further information on the types of factors that could affect Biglari Holdings and its business can be found in the company’s filings with the SEC.

Media:Sloane & CompanyElliot Sloane, [e-mail] Zacchei, [e-mail]