13D Filing: Marcato Capital Management and Buffalo Wild Wings Inc (BWLD)

SCHEDULE 13D

(a) As of the date hereof, (i) Marcato, and
Mr. McGuire may each be deemed to be the beneficial owners of 982,600 Shares, constituting approximately 6.1% of the Shares, (ii) Marcato International may be deemed to be the beneficial owner of 950,000 Shares (the Marcato
International Shares) constituting approximately 5.9% of the Shares and (iii) Marcato Special Opportunities Fund may be deemed to be the beneficial owners of 32,600 Shares (collectively with the Marcato International Shares, the
Marcato Shares) constituting approximately 0.2% of the Shares, each based upon a total of 16,136,768 Shares outstanding as of March 24, 2017 (based on disclosure in amendment no. 1 the Issuers preliminary proxy statement on
Schedule 14A filed with the SEC on April 5, 2017).

(b) Marcato International may be deemed to have the shared power to vote or
direct the vote (and the shared power to dispose or direct the disposition) of 950,000 Shares. Marcato Special Opportunities Fund may be deemed to have the shared power to vote or direct the vote (and the shared power to dispose or direct the
disposition) of 32,600 Shares. Marcato, as the investment manager of Marcato International and Marcato Special Opportunities Fund, may be deemed to have the shared power to vote or direct the vote (and the shared power to dispose or direct the
disposition) of the Marcato Shares and, therefore, Marcato may be deemed to be the beneficial owner of the Marcato Shares. By virtue of Mr. McGuires position as the managing partner of Marcato, Mr. McGuire may be deemed to have the
shared power to vote or direct the vote (and the shared power to dispose or direct the disposition) of the Marcato Shares and, therefore, Mr. McGuire may be deemed to be the beneficial owner of the Marcato Shares.

(c) The transactions by Marcato Special Opportunities Fund in the securities of the Issuer during the past sixty days are set forth in
Exhibit S. Except as set forth in Exhibit S attached hereto, there have been no other transactions by the Reporting Persons in the securities of the Issuer in the past sixty days.

(d) The limited partners of (or investors in) Marcato International and Marcato Special Opportunities Fund, or their respective
subsidiaries or affiliated entities, for which Marcato or its affiliates acts as general partner and/or investment manager have the right to participate in the receipt of dividends from, or proceeds from the sale of, the Shares held for the accounts
of their respective funds in accordance with their respective limited partnership interests (or investment percentages) in their respective funds.