Restaurant Brands Third Quarter Sales

14 December 2017
ASX/NZX

Restaurant Brands’ Third Quarter Sales up 45.1% following Australian and Hawaiian
acquisitions

Restaurant Brands' total sales during the third quarter of the financial year (12 weeks ended 4 December
2017) were $173.3 million, an increase of 45.1% or $53.9 million on the equivalent period last year.

The bulk of the increase ($39.2 million) came from the 37 Taco Bell and 45 Pizza Hut outlets in Hawaii,
Guam and Saipan acquired in March 2017. A further $10.8 million came from newly acquired KFC stores
in Australia with $3.9 million from New Zealand operations.

Group same store sales for the quarter were up 6.2% with New Zealand operations up 4.7% and
Australia up 11.4%.

Year to date sales were $559.5 million, an increase of 49.0% over the prior year on a total basis, and
up 6.6% on a same store basis.

Total company store numbers were up by 96 on the equivalent period last year to 310, primarily from
the 82 store Hawaiian acquisition and a further 17 KFC stores acquired in Australia.

KFC New Zealand

Third quarter sales for KFC New Zealand were $73.5 million, an increase of 7.6% on the equivalent
period last year on a total sales basis and up 5.6% on a same store basis.

Year to date sales for KFC New Zealand were $243.9 million, an increase of 8.0% on a total sales basis
and up 6.6% on a same store basis.

Store numbers increased by one to 93 during the quarter with the opening of a new concept design in
Fort Street Auckland. Store numbers were also one up on the same period last year.

Pizza Hut New Zealand

Total third quarter sales for Restaurant Brands-owned Pizza Hut stores were $9.3 million, a decrease
of 2.5% on the equivalent period last year, due to having two less stores because of sales to independent
franchisees in previous quarters. Same store sales for the quarter increased by 5.5%.

Year to date sales for Restaurant Brands-owned Pizza Hut stores were $32.1 million, an increase of
1.9% on a total basis, and up 9.1% on a same store basis.

Company owned store numbers remained steady during the quarter at 34 stores. There are now 61
Pizza Huts operated by independent franchisees, bringing the total network to 95 stores.

Network total sales for the quarter were $23.1m, an increase of 8.2%. Year to date network total sales
were $78.0 million, an increase of 11.1%.

RESTAURANT BRANDS NEW ZEALAND LIMITED

Starbucks Coffee

Starbucks Coffee total sales for the third quarter were $6.0 million, a 5.9% decrease on the equivalent
period last year. Same store sales for the quarter were up 6.4%.

Year to date sales for Starbucks Coffee were $19.4 million, an increase of 6.5% on a same store basis.

There were 23 stores trading over the quarter, one down on prior year.

Carl’s Jr.

Total sales for the third quarter were $8.1 million, down 7.8% following the closure of the Otahuhu
store at the end of last year. On a same store basis sales were down by 5.2%.

Year to date sales for Carl’s Jr. were $26.9 million, a decrease of 3.2% on a same store basis.

Store numbers remained constant at 19 during the quarter, one down on prior year.

KFC Australia

Restaurant Brands started the year with 42 KFC stores in New South Wales, Australia.

During the first quarter the company acquired five KFC stores from independent franchises. Three
independent franchise and eight Yum! KFC stores were acquired in the third quarter along with a store
opening bringing store numbers to 59.

The 59 stores contributed $A33.7 million ($NZ37.3 million) in total sales during the third quarter, up
5.9% on a same store basis for the quarter.

Year to date sales for KFC Australia were $A100.5 million ($NZ109.1 million), an increase of 5.9% on a
same store basis.

Taco Bell and Pizza Hut Hawaii

On 7 March 2017 Restaurant Brands acquired 37 Taco Bell and 45 Pizza Hut stores in Hawaii, Guam
and Saipan.

The 82 acquired stores contributed $US27.3 million ($NZ39.2 million) in total sales in the third quarter.

Year to date sales for the 39 weeks since acquisition were $US91.2 million (NZ$128.1 million).

Of the 82 stores, the Taco Bell and Pizza Hut stores located at Pearl Harbour are temporarily closed
due to ongoing infrastructure work on the base and are scheduled to reopen in March 2018.

For further information please contact:

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

ENDS

2017/18 ($000's)2016/17 ($000's)Change
Q3 2017/18 vs Q3 2016/17

Total Store Sales - KFC New Zealand
73,549 68,323
7.6%
Total Store Sales - Pizza Hut New Zealand9,258 9,493 -2.5%
Total Store Sales - Starbucks Coffee
5,977

6,353 -5.9%
Total Store Sales - Carl's Jr.8,079 8,761

-7.8%
Total Store Sales - New Zealand96,863 92,930 4.2%
Total Store Sales - KFC Australia *
37,279 26,513
40.6%
Total Store Sales - Taco Bell *22,422

-
-
Total Store Sales - Pizza Hut Hawaii *16,778
- -
Total Store Sales - Hawaii *
39,200

-
-
Total Store Sales
173,342
119,443 45.1%
Same Store Sales - KFC New Zealand71,835
67,998
5.6%
Same Store Sales - Pizza Hut New Zealand9,153 8,677
5.5%
Same Store Sales - Starbucks Coffee5,976
5,615 6.4%
Same Store Sales - Carl's Jr.8,079
8,522
-5.2%
Total Same Store Sales - New Zealand95,043 90,812 4.7%
Same Store Sales - KFC Australia *29,451 26,437
11.4%
Same Store Sales - Taco Bell *N/A- -
Same Store Sales - Pizza Hut Hawaii *N/A
- -
Total Same Store Sales - Hawaii *N/A-
-
Total Same Store Sales124,495 117,249
6.2%
YTD 2017/18 vs YTD 2016/17
Total Store Sales - KFC New Zealand243,856
225,739 8.0%
Total Store Sales - Pizza Hut New Zealand
32,120 31,515 1.9%
Total Store Sales - Starbucks Coffee19,402 20,138
-3.7%
Total Store Sales - Carl's Jr.26,882 28,099
-4.3%
Total Store Sales - New Zealand322,260
305,492 5.5%
Total Store Sales - KFC Australia *109,143 70,109 55.7%
Total Store Sales - Taco Bell *73,372 -
-
Total Store Sales - Pizza Hut Hawaii *54,697 - -
Total Store Sales - Hawaii *128,069 -
-
Total Store Sales559,472 375,601
49.0%
Same Store Sales - KFC New Zealand
239,886
225,002 6.6%
Same Store Sales - Pizza Hut New Zealand31,910 29,255 9.1%
Same Store Sales - Starbucks Coffee19,370 18,189
6.5%
Same Store Sales - Carl's Jr.26,529 27,411 -3.2%
Total Same Store Sales - New Zealand317,695
299,857 5.9%
Same Store Sales - KFC Australia *76,432 69,919 9.3%
Same Store Sales - Taco Bell *N/A- -
Same Store Sales - Pizza Hut Hawaii *N/A- -
Total Same Store Sales - Hawaii *N/A- -
Total Same Store Sales394,127 369,776 6.6%
RESTAURANT BRANDS NEW ZEALAND LIMITED
Quarterly Sales Report
Summary of Results for the 3rd Quarter (Q3)
(for the 12 weeks 12/09/2017 to 04/12/2017)

2017/18 ($000's)2016/17 ($000's)Change
NUMBER OF STORES OPEN AT QUARTER END
KFC New Zealand93 92 1
Pizza Hut New Zealand34 36
-2
Starbucks Coffee23
24 -1
Carl's Jr.19 20
-1
Total - New Zealand169 172 -3
Total - KFC Australia59 42 17

Taco Bell37 - 37
Pizza Hut Hawaii45 - 45
Total - Hawaii82 - 82
Total Stores
310 214
96


AU S T R AL I AN S AL E S I N AU D
Q3 2017/18 vs Q3 2016/17
Total Store Sales - KFC Australia33,741 25,250 33.6%
Same Store Sales - KFC Australia26,657
25,178 5.9%
YTD 2017/18 vs YTD 2016/17
Total Store Sales - KFC Australia100,460 66,633
50.8%
Same Store Sales - KFC Australia70,351 66,452 5.9%
H AWAI I AN S AL E S I N U S D
Q3 2017/18 vs Q3 2016/17
Total Store Sales - Taco Bell15,618 - -
Total Store Sales - Pizza Hut Hawaii11,686 - -
Total Store Sales - Hawaii27,304 - -
Same Store Sales - Taco BellN/A- -
Same Store Sales - Pizza Hut HawaiiN/A- -
Total Same Store Sales - HawaiiN/A- -
YTD 2017/18 vs YTD 2016/17
Total Store Sales - Taco Bell52,246 - -
Total Store Sales - Pizza Hut Hawaii38,938 - -
Total Store Sales - Hawaii91,185 - -
Same Store Sales - Taco BellN/A- -
Same Store Sales - Pizza Hut HawaiiN/A- -
Same Store Sales - HawaiiN/A- -
Some Sales numbers for each of the concepts may not
aggregate in total due to rounding.
* Note:
- Blended AUD:NZD rate for Q30.905 0.952 -0.047
- Blended AUD:NZD rate for YTD0.920 0.950 -0.030
- Blended USD:NZD rate for Q30.697 - -
- Blended USD:NZD rate for YTD0.712 - -
Summary of Results for the 3rd Quarter (Q3)
(for the 12 weeks 12/09/2017 to 04/12/2017)
RESTAURANT BRANDS NEW ZEALAND LIMITED
Quarterly Sales Report