Restaurant Brands Fourth Quarter Sales

9 March 2017
NZX

Restaurant Brands’ Full Year Sales Close to $500 million, up 28%

Restaurant Brands' total sales for the 12 months ended 27 February were $497.2 million, up 28.3% on
the prior year.

New Zealand operations generated sales of $400.0 million, up 3.2%, with an additional $97.2 million
generated by the 42 KFC outlets in Australia (acquired in April 2016).

Group same store sales for the year were +3.0% with Pizza Hut and KFC New Zealand both up 3.6%,
Starbucks Coffee up 4.5% and Carl’s Jr, slightly down at -3.8%.

The Company finished the year strongly with fourth quarter sales of $121.6 million, an increase of
36.8% or $32.7 million on the equivalent period last year. There was positive same store sales growth
for all brands, up 6.0% in total, led by KFC New Zealand at +7.1%, Starbucks Coffee up 6.6%, Pizza
Hut up 1.6% and Carl’s Jr. ending the quarter with positive same store sales of +0.4%.

Total company store numbers were up by 39 on the equivalent period last year to 212 with the
Australian acquisition, off-set by Pizza Hut store sales to independent franchisees.

KFC New Zealand

Year to date sales for KFC New Zealand were $296.5 million, an increase of 4.9% on a total basis and
up 3.6% on a same store basis.


Total sales in the fourth quarter for KFC New Zealand were $70.7 million, up 9.0% or $5.8 million on
the equivalent period last year. This is rolling over an increase of 4.2% the year before.

Same store sales for the quarter were also up strongly by +7.1%.

Store numbers remained steady at 92 during the quarter.

Pizza Hut

Year to date sales for Restaurant Brands owned Pizza Hut stores were $40.5 million, an increase of
3.6% on a same store basis.

Total quarterly sales for Restaurant Brands owned Pizza Hut stores were $9.0 million, a decrease of
9.2% on the equivalent period last year, due to having four fewer stores as the company continued its
strategy of selling stores to independent franchisees.

Same store sales for the quarter increased by 1.6%.

Company owned stores reduced by one during the quarter to 35 versus 39 in the prior year with the
Invercargill store sold to an independent franchisee. There are now 58 Pizza Hut stores operated by
independent franchisees with one new store in Hastings opened during the quarter. This has brought
the total network to 93 stores.

RESTAURANT BRANDS NEW ZEALAND LIMITED

As a brand, Pizza Hut continued to grow strongly with the total network sales for the quarter up 6.0%
on prior year.

Starbucks Coffee

Full year sales for Starbucks Coffee were $26.7 million, up 4.5% on a same store basis.

Starbucks Coffee total sales for the fourth quarter were $6.6 million, a slight decrease on the
equivalent period last year, but with one less store. Same store sales for the quarter were up 6.6%
(rolling over a 5.5% increase in the prior year).

There were 24 stores trading at the end of the quarter, down one versus the previous year.

Carl’s Jr.

Full year sales for Carl’s Jr. were $36.3 million, an increase of 9.0% on a total basis. Sales for the year
were down 3.8% on a same store basis, but finished the year with positive growth.

Total sales for the fourth quarter were $8.2 million, up 11.2% on the equivalent period last year with a
net increase of one store.

Carl’s Jr. enjoyed a second quarter of positive same store sales growth in succession, up 0.4%.

During the quarter the Company closed the Carl’s Jr. restaurant in Otahuhu due to poor trading at the
location. With two store openings during the year and the one closure, net store numbers have
increased by one from the equivalent period last year to 19 at the end of the quarter.

KFC Australia

On 27 April 2016 Restaurant Brands acquired 42 KFC stores in New South Wales, Australia.

The 42 acquired stores contributed AUD$92.5 million (NZD$97.2 million) in total sales in the ten
months since acquisition.

Total sales of AUD$25.8 million (NZD$27.1 million) were made during the fourth quarter, which is an
increase of 8% on a same store basis over the equivalent period last year.

Store numbers remained steady at 42 during the quarter.


For further information please contact

Russel Creedy Grant Ellis
CEO CFO/Company Secretary
Phone: 525 8700 Phone: 525 8700

ENDS

2016/17 ($000's )2015/16 ($000's )% change
Q4 2016/17 vs Q4 2015/16
Total Store Sales - KFC New Zealand
70,726 64,890 9.0%
Total Store Sales - Pizza Hut
8,977 9,889 -9.2%
Total Store Sales - Starbucks Coffee6,555 6,661 -1.6%
Total Store Sales - Carl's Jr.8,248 7,415 11.2%
Total Store Sales - New Zealand
94,506 88,855 6.4%
Total Store Sales - KFC Australia *
27,072 - -
Total Store Sales121,578 88,855 36.8%
Same Store Sales - KFC New Zealand68,799 64,228 7.1%
Same Store Sales - Pizza Hut
8,599 8,460 1.6%
Same Store Sales - Starbucks Coffee6,462 6,063 6.6%
Same Store Sales - Carl's Jr.7,291 7,264 0.4%
Same Store Sales - New Zealand91,151 86,015 6.0%
Same Store Sales - KFC Australia *N/A- -
Total Same Store Sales91,151 86,015 6.0%
YTD 2016/17 vs YTD 2015/16
Total Store Sales - KFC New Zealand296,466 282,532 4.9%
Total Store Sales - Pizza Hut40,492 44,872 -9.8%
Total Store Sales - Starbucks Coffee26,693 26,812 -0.4%
Total Store Sales - Carl's Jr.36,347 33,351 9.0%
Total Store Sales - New Zealand399,998 387,567 3.2%
Total Store Sales - KFC Australia *97,181 - -
Total Store Sales497,179 387,567 28.3%
Same Store Sales - KFC New Zealand290,557 280,360 3.6%
Same Store Sales - Pizza Hut39,450 38,097 3.6%
Same Store Sales - Starbucks Coffee26,488 25,345 4.5%
Same Store Sales - Carl's Jr.31,939 33,192 -3.8%
Same Store Sales - New Zealand388,434 376,994 3.0%
Same Store Sales - KFC Australia *N/A- -
Total Same Store Sales388,434 376,994 3.0%
NUMBER OF STORES OPEN AT QUARTER END
Qtr End no of Stores - KFC New Zealand92911
Qtr End no of Stores - Pizza Hut3539-4
Qtr End no of Stores - Starbucks Coffee2425-1
Qtr End no of Stores - Carl's Jr.19181
Total Store no - New Zealand170173-3
Qtr End no of Stores - KFC Australia42
- 42
Total Stores21217339
AUSTRALIAN SALES IN AUD
Q4 2016/17 vs Q4 2015/16
Total Store Sales - KFC Australia25,838
- -
Same Store Sales - KFC AustraliaN/A- -
YTD 2016/17 vs YTD 2015/16
Total Store Sales - KFC Australia92,471
- -
Same Store Sales - KFC AustraliaN/A- -
* Note:
- Blended AUD:NZD rate for Q40.954 - -
- Blended AUD:NZD rate for YTD0.952 - -
RESTAURANT BRANDS NEW ZEALAND LIMITED
Quarterly Sales Report
Summary of Results for the 4th Quarter (Q4)
(for the 12 w eeks 6/12/2016 to 27/02/2017)