Notice Pursuant to Rule 49A of the Takeovers Code

12 December 2018


Restaurant Brands New Zealand Limited
Level 3, Building 7
Central Park
666 Great South Road
Penrose, Auckland 105
New Zealand

cc: The Takeovers Panel
Level 3, Solnet House
70 The Terrace
Wellington 6011
By email: takeovers.panel@takeovers.govt.nz

cc NZX Limited
Level 1, NZX Centre
11 Cable Street
Wellington 6011
PO Box 2959
By email: announce@nzx.com

cc ASX Limited
20 Bridge Street
NSW 2000
Sydney
Australia
By fax

Rule 49A - Notice of increase in acceptances of takeover offer

Pursuant to Rule 49A of the Takeovers Code, Global Valar, S.L (Global Valar) gives notice that,
as at 11 December 2018, the total number of acceptances of its partial takeover offer dated 6
December 2018 (the Offer) for 75% of the fully paid ordinary shares (Shares) in Restaurant
Brands New Zealand Limited, has increased by more than 1% of the total Shares.

As as 11 December 2018, the total number of acceptances of the Offer is now 1,753,161 Shares
comprising 1.41% (rounded to two decimal places) of the Shares.

Yours faithfully
Global Valar S.L.


[Signature page follows]

For and on behalf of Global Valar, S.L:







José Parés Gutiérrez
Director and Chief Executive Officer