First Bombshells Restaurant & Bar Franchise Opens in San Antonio

SAN ANTONIO—June 27, 2022—RCI Hospitality Holdings, Inc. of Houston (Nasdaq: RICK) is proud to announce the opening of its first franchised Bombshells Restaurant & Bar today in San Antonio, home to one of the largest concentrations of military bases and one of the largest active and retired military populations in the US.

Located at 8410 Texas Highway 151 near the interchange with I-410, Bombshells San Antonio employs 250 people and is the rapidly growing chain's 12th unit in Texas. Plans were recently announced for three more company-owned units in the state – in Stafford, Rowlett, and Lubbock – and a franchise in Huntsville, AL.

"We want Bombshells to be the ultimate experience for casual dining, sports viewing, music, food, and fun in San Antonio," said David Simmons, Director of Restaurant Operations. "Everything about Bombshells is big, proud, and community-friendly, with a great respect for our military, past and present."

Bombshells are known for their bold red, white and blue branding; aircraft hangar-like structures; military memorabilia; 20% discount on meals and soft drinks for veterans and active members of the armed forces; and uniformed Bombshells Girls, who bring to life timeless "pin-up" models from World War II military aircraft "nose art".

The San Antonio location features 9,000 square feet inside and 3,200 square feet outside on the patio (surrounded by sandbags); in excess of 500 seating; abundant parking; the latest in big screen sports viewing technology with more than 100 hi-def TVs; free high-speed Wi-Fi; and USB charging stations throughout.

Bombshells restaurants offer a scratch kitchen, full bar (featuring an aircraft wing overhead), premium brands of spirits, and a selection of 20 draft beers (flowing through a unique "missile tap"). Locations are open 11 AM to 2 AM for lunch, happy hour, dinner, and a late night party scene featuring live DJs. Guests are encouraged to stay and hang out.

The extensive menu includes popular items such as Renegade Pasta (penne tossed in Cajun-spiced Alfredo sauce); Double D's Burger (2x the beef, cheese, and fries); Ike's 14-ounce rib eye steak; the Pin Up Girl Salad; and giant desserts, such as Fried Cheesecake and Bombshells Brownie.

The Bombshells concept was originated by Travis Reese, EVP of parent RCI, whose grandfather piloted more than 100 missions in the Berlin Airlift following WW II. The chain was named to Restaurant Business magazine's "The Future 50" list of fastest-growing concepts. For more information, visit www.4bombshells.com or www.rcihospitality.com.

Media Note: High resolution photos and captions are available here.

Forward-Looking Statements: This press release may contain forward-looking statements that involve a number of risks and uncertainties that could cause the company's actual results to differ materially from those indicated, including, but not limited to, the risks and uncertainties associated with (i) operating and managing restaurant businesses, (ii) the business climates in cities where it operates, (iii) the success or lack thereof in launching and building the company's businesses, (iv) cyber security, (v) conditions relevant to real estate transactions, (vi) the impact of the COVID-19 pandemic, and (vii) numerous other factors such as laws governing the operation of restaurant businesses, competition and dependence on key personnel. For more detailed discussion of such factors and certain risks and uncertainties, see RCI's annual report on Form 10-K for the year ended September 30, 2021, as well as its other filings with the U.S. Securities and Exchange Commission. The company has no obligation to update or revise the forward-looking statements to reflect the occurrence of future events or circumstances.

Media & Investor Contacts: Gary Fishman and Steven Anreder at 212-532-3232 or gary.fishman@anreder.com and steven.anreder@anreder.com