Restaurant Brands Q3 Sales Announcement

Restaurant Brands New Zealand Limited

26 October 2022
ASX/NZX

Restaurant Brands Sales up 32.3% with Roll Over of COVID-19 Lockdowns

Restaurant Brands’ total sales for the third quarter to 30 September 2022 increased to $322.2 million
(up 32.3% over the equivalent period last year), as sales recovered from the impacts of the 2021 COVID-
19 restrictions in New Zealand and Australia.

Worldwide inflationary pressures have continued from last quarter, with the company still experiencing
significant cost inflation across all regions. The company continues to implement price increases where
possible in response to these increased costs.

Total year to date sales reached $907.1 million (an increase of 15.7% on the prior year). Total sales
were supported by the inclusion of 20 new stores (to 372 stores in total), lower levels of COVID-19
disruption and the strengthening US and Australian dollars over the prior year.

New Zealand

Third quarter sales for New Zealand were $137.6 million, up 43.9% in total and 2.2% on a same store
basis.

Prior year trading was impacted by Government-mandated trading restrictions. Adjusting the prior year
sales to account for an estimated $26 million of sales lost due to COVID-19 restrictions, sales increased
by 13.1% during the quarter.

All brands showed sales growth, with staff isolation requirements reducing as COVID-19 restrictions
continue to be eased and overall case numbers drop.

Total year to date sales were $389.4 million, an increase of 16.3% on the prior year and 1.6% on a same
store basis.

Store numbers increased by two during the quarter to 140 stores, following the opening of new Taco Bell
stores in Botany, Auckland and near Christchurch Airport.

Australia

Australia’s sales for the third quarter were $A65.5 million ($NZ73.1 million), an increase of 23.6% in total
(local currency). Total sales growth over the prior year is distorted by the impact of COVID-19
Government restrictions imposed during 2021.

Same store sales were up 10.4% (local currency). Mall and in-line inner city store sales continued to
recover towards pre-COVID-19 sales levels.

Total year to date sales were $A188.4 million ($NZ206.5 million). This is an increase of 12.3% on a total
basis on the prior year and 5.6% on a same store basis.

Store numbers increased by one during the quarter to 82 following the opening of a new Taco Bell store
in Chatswood, Sydney.

Hawaii

Sales for the third quarter in Hawaii were $US39.9 million ($NZ65.1 million), showing growth of 7.7% in
total and 2.6% on a same store basis (local currency).

Hawaii trading continues to be strong, with sales growing past pre-pandemic levels. The full
reintroduction of the Taco Bell Mexican Pizza Taco has exceeded sales expectations and is driving
sales growth into the fourth quarter.

Total year to date sales were $US115.9 million ($NZ180.3 million), an increase of 5.7% on a total basis
on the prior year and 2.8% on a same store basis.

Store numbers increased by one to 75 stores during the quarter with the opening of a new Taco Bell
store in Kilauea.

California

California’s sales in the third quarter were $US28.5 million ($NZ46.4 million), an increase of 3.0% on a
total basis but a decrease of 3.3% on a same store basis (local currency).

Same store sales have reduced on the prior year in the absence of Government stimulus payments and
with Californian consumer spending falling in the face of high inflation levels.

Total year to date sales were $US84.3 million ($NZ130.9 million), an increase of 1.7% on a total basis
on the prior year but a decrease of 3.0% on a same store basis.

Store numbers increased by one during the quarter to 75 stores following the opening of a new KFC
store in Ridgecrest.


Authorised by:

Russel Creedy Grant Ellis
CEO
+64 9 525 8700
CFO
+64 9 525 8700


ENDS

2022 ($000's)2021 ($000's)Change
Total Store Sales ($NZ)
Q3 2022 vs Q3 2021

New Zealand137,569 95,625 43.9%
Australia73,053 55,564 31.5%
Hawaii65,141 52,769 23.4%
California46,427 39,659 17.1%
Total Store Sales322,190 243,617 32.3%
YTD 2022 vs YTD 2021
New Zealand389,385 334,899 16.3%
Australia206,526 178,591 15.6%
Hawaii180,279 153,794 17.2%
California130,889 116,975 11.9%
Total Store Sales907,080 784,258 15.7%
20222021Change
Same Store Sales
Q3 2022 vs Q3 2021
New Zealand2.2% 9.9% (7.7%)
Australia10.4% (5.9%)16.3%
Hawaii2.6% 7.8% (5.2%)
California(3.3%)2.4% (5.7%)
YTD 2022 vs YTD 2021
New Zealand1.6% 11.6% (10.0%)
Australia5.6% 1.4% 4.2%
Hawaii2.8% 9.5% (6.7%)
California(3.0%)2.4% (5.4%)
RESTAURANT BRANDS NEW ZEALAND LIMITED
Quarterly Sales Report
Summary of Results for the 3rd Quarter (Q3)
(for the 3 months 01/07/22 to 30/09/22)

2022 ($000's)2021 ($000's)Change
Total Store Sales (Local Currency)
Q3 2022 vs Q3 2021
New Zealand ($NZ)137,569 95,625 43.9%
Australia ($A)65,535 53,031 23.6%
Hawaii ($US)39,920 37,050 7.7%
California ($US)28,464 27,622 3.0%
YTD 2022 vs YTD 2021
New Zealand ($NZ)389,385 334,899 16.3%
Australia ($A)188,377 167,788 12.3%
Hawaii ($US)115,917 109,704 5.7%
California ($US)84,273 82,866 1.7%
20222021Change
Number Of Stores Open At Quarter End
New Zealand140 133 7
Australia82 77 5
Hawaii75 73 2
California75 69 6
Total Stores372 352 20
Exchange Rates
- Blended $A:$NZ rate for Q30.897 0.954 (0.057)
- Blended $A:$NZ rate for YTD0.912 0.940 (0.028)
- Blended $US:$NZ rate for Q30.613 0.700 (0.087)
- Blended $US:$NZ rate for YTD0.643 0.711 (0.068)
Note: Some sales numbers for each of the divisions may not aggregate in total due to rounding.
Summary of Results for the 3rd Quarter (Q3)
(for the 3 months 01/07/22 to 30/09/22)
RESTAURANT BRANDS NEW ZEALAND LIMITED
Quarterly Sales Report