Restaurant Brands Q2 Sales Announcement

Restaurant Brands New Zealand Limited

29 July 2020
ASX/NZX

Restaurant Brands Total Sales Impacted By COVID-19 During Second Quarter

Restaurant Brands’ second quarter sales were materially impacted by Government-mandated trading
restrictions implemented in response to the COVID-19 crisis. All stores in New Zealand were closed
between 25 March and 28 April, and then only open for delivery and drive through until 14 May.
Australian stores operated without dine-in for the quarter and 10 mall stores were closed for half of the
quarter. Hawaiian stores operated without dine-in for the entire quarter.

Restaurant Brands’ total sales for the second quarter of the financial year (three months to 30 June
2020) were $183.3 million, a decrease of $22.6 million or 11.0% on the equivalent period last year
primarily due to the full closure of the New Zealand stores for most of April.

Total year to date sales were $383.4 million, a decrease of 3.2% on the prior year; however on a same
store basis (removing the impact of stores closed because of the COVID-19 crisis) all divisions recorded
growth despite these disruptions.

Company store numbers were up by three on the equivalent period last year to 290.

New Zealand

Second quarter total sales for New Zealand were $76.6 million, a decrease of 28.8% on the equivalent
period last year as a result of the Government-mandated full store closures during April.

However on a same store basis sales were up 3.0% for the quarter, despite nearly three weeks of
delivery and drive through trading only, with KFC and Carl’s Jr. continuing to trade strongly once COVID-
19 restrictions were lifted.

Year to date sales for New Zealand were $174.6 million, a decrease of 15.7% in total; but up 2.7% on
a same store basis.

Store numbers increased by two during the quarter to 150, with openings of a KFC in Christchurch CBD
and a Taco Bell in Auckland CBD.

Australia

Second quarter sales for Australia were $A45.7 million ($NZ48.8 million), a decrease of 0.6% arising
from the ongoing unavailability of instore dining due to local COVID-19 restrictions. On a same store
basis sales were down 1.3% (local currency).

Year to date sales for Australia were $A94.4 million ($NZ99.1 million), an increase of 6.1% on a total
basis due to new store openings late last year and up 0.3% on a same store basis (local currency).

Store numbers remained steady at 65 during the quarter.

United States

Second quarter sales in the United States were $US35.6 million ($NZ57.9 million). This was an increase
of 8.0% on a total basis and 8.1% on a same store basis (local currency). A small downturn in Taco Bell
sales arising from the ongoing unavailability of instore dining (due to local COVID-19 restrictions) was
more than offset by strong Pizza Hut sales which benefitted from newly enhanced web order and
delivery functions.

Year to date sales were $US68.7 million ($NZ109.7 million), an increase of 7.2% on a total basis and
8.0% on a same store basis (local currency).

Store numbers remained constant at 75 during the quarter.

Half Year Results

The company expects to release its half year trading results on 8 September 2020.



Authorised by:

Russel Creedy Grant Ellis
CEO CFO


ENDS

2020 ($000's)2019 ($000's)Change
Total Store Sales ($NZ)
Q2 2020 vs Q2 2019

New Zealand
76,646 107,644 (28.8%)
Australia
48,782 48,646 0.3%
United States
57,885 49,666 16.5%
Total Store Sales
183,313 205,957 (11.0%)
YTD 2020 vs YTD 2019
New Zealand
174,603 207,133 (15.7%)
Australia
99,137 93,427 6.1%
United States
109,697 95,509 14.9%
Total Store Sales
383,437 396,068 (3.2%)
20202019Change
Same Store Sales
Q2 2020 vs Q2 2019
New Zealand
3.0% 5.4% (2.4%)
Australia
(1.3%)5.8% (7.2%)
United States
8.1% 9.6% (1.5%)
YTD 2020 vs YTD 2019
New Zealand
2.7% 5.2% (2.5%)
Australia
0.3% 5.9% (5.6%)
United States
8.0% 9.1% (1.1%)
RESTAURANT BRANDS NEW ZEALAND LIMITED
Quarterly Sales Report
Summary of Results for the 2nd Quarter (Q2)
(for the 3 months 01/04/20 to 30/06/20)

2020 ($000's)2019 ($000's)Change
Total Store Sales (Local Currency)
Q2 2020 vs Q2 2019
Australia ($A)
45,652 45,921 (0.6%)
United States ($US)
35,550 32,906 8.0%
YTD 2020 vs YTD 2019
Australia ($A)
94,361 88,896 6.1%
United States ($US)
68,730 64,108 7.2%
20202019Change
Number Of Stores Open At Quarter End
New Zealand
150 145 5
Australia
65 61 4
United States
75 81 (6)
Total Stores
290 287 3
Exchange Rates
- Blended $A:$NZ rate for Q20.936 0.944 (0.008)
- Blended $A:$NZ rate for YTD0.952 0.952 0.000
- Blended $US:$NZ rate for Q20.614 0.663 (0.048)
- Blended $US:$NZ rate for YTD0.627 0.671 (0.045)
Note: Some sales numbers for each of the divisions may not aggregate in total due to rounding.
Summary of Results for the 2nd Quarter (Q2)
(for the 3 months 01/04/20 to 30/06/20)
RESTAURANT BRANDS NEW ZEALAND LIMITED
Quarterly Sales Report