Restaurant Brands Q1 Sales Announcement

Restaurant Brands New Zealand Limited

24 April 2023
ASX/NZX

Restaurant Brands Sales up 12.0% for the First Quarter

Restaurant Brands’ total sales for the first quarter to 31 March 2023 increased to $308.6 million.
This is up $33.2 million (12.0%) over the equivalent period last year, as sales recovered from the
impacts of the 2022 COVID-19 Omicron outbreak and price increases were implemented across all
markets.

Sales growth was also supported by an additional 12 stores and stronger US and Australian dollars
over the prior year.

Worldwide inflationary pressures continue, albeit at a lower rate. While the company continues to
implement price increases in response to these increased costs, margins remain under pressure.

New Zealand

First quarter sales for New Zealand were $129.4 million, up 9.2% in total and 7.4% on a same store
basis.

Sales grew across all brands, largely driven by price increases and the easing of pandemic-related
trading constraints.

Store numbers remained constant from the fourth quarter of 2022 at 143 stores.

Australia

Australia’s sales for the first quarter were $A67.9 million ($NZ73.7 million), an increase of 15.5% in
total (local currency).

Same store sales were up 11.2% (local currency). Mall and in-line inner city store sales have
recovered to near pre-COVID-19 levels.

Store numbers were constant at 83 stores.

Hawaii

Sales for the first quarter in Hawaii were $US38.9 million ($NZ61.8 million), up 9.3% in total and
1.0% on a same store basis (local currency).

Hawaii trading has solidified around the new highs achieved during last year and the new stores
opened last year continued to produce strong trading results.

Store numbers remained constant during the quarter at 75 stores.

California

California’s sales in the first quarter were $US27.5 million ($NZ43.7 million), an increase of 0.3% on
a total basis, however a decrease of 4.0% on a same store basis (local currency).

Same store sales have reduced on the prior year largely due to customers shifting to value-orientated
menu and promotional items.

Store numbers remained constant during the quarter at 75 stores.

Annual Shareholders’ Meeting

The Annual Shareholders’ Meeting of the company will be held on Thursday 18 May 2023,
commencing at 10.00 am at The Boathouse, Park Hyatt Auckland, 99 Halsey Street, Auckland CBD
and online at https://meetnow.global/nz.



Authorised by:

Arif Khan Grant Ellis
Acting Group CEO
+64 9 525 8700
Group CFO
+64 9 525 8700


ENDS

2023 ($000's )2022 ($000's)Change
Total Store Sales ($NZ)
Q1 2023 vs Q1 2022

New Zealand129,380 118,528 9.2%
Australia73,706 63,088 16.8%
Hawaii61,776 53,046 16.5%
California43,703 40,742 7.3%
Total Store Sales
308,565 275,404 12.0%
YTD 2023 vs YTD 2022
New Zealand129,380 118,528 9.2%
Australia73,706 63,088 16.8%
Hawaii61,776 53,046 16.5%
California43,703 40,742 7.3%
Total Store Sales
308,565 275,404 12.0%
20232022Change
Same Store Sales
Q1 2023 vs Q1 2022
New Zealand
7.4% (0.5%)7.9%
Australia11.2% 1.6% 9.6%
Hawaii1.0% 2.1% (1.1%)
California(4.0%)0.3% (4.3%)
YTD 2023 vs YTD 2022
New Zealand7.4% (0.5%)7.9%
Australia11.2% 1.6% 9.6%
Hawaii1.0% 2.1% (1.1%)
California(4.0%)0.3% (4.3%)
RESTAURANT BRANDS NEW ZEALAND LIMITED
Quarterly Sales Report
Summary of Results for the 1st Quarter (Q1)
(for the 3 months 01/01/23 to 31/03/23)

2023 ($000's)2022 ($000's )Change
Total Store Sales (Local Currency)
Q1 2023 vs Q1 2022
New Zealand ($NZ)
129,380 118,528 9.2%
Australia ($A)
67,906 58,797 15.5%
Hawaii ($US)
38,900 35,574 9.3%
California ($US)
27,514 27,444 0.3%
YTD 2023 vs YTD 2022
New Zealand ($NZ)
129,380 118,528 9.2%
Australia ($A)
67,906 58,797 15.5%
Hawaii ($US)
38,900 35,574 9.3%
California ($US)
27,514 27,444 0.3%
20232022Change
Number Of Stores Open At Quarter End
New Zealand
143 138 5
Australia
83 80 3
Hawaii
75 73 2
California
75 73 2
Total Stores
376 364 12
Exchange Rates
- Blended $A:$NZ rate for Q10.921 0.932 (0.011)
- Blended $A:$NZ rate for YTD0.921 0.932 (0.011)
- Blended $US:$NZ rate for Q10.630 0.672 (0.042)
- Blended $US:$NZ rate for YTD0.630 0.672 (0.042)
Note: Some sales numbers for each of the divisions may not aggregate in total due to rounding.
Summary of Results for the 1st Quarter (Q1)
(for the 3 months 01/01/23 to 31/03/23)
RESTAURANT BRANDS NEW ZEALAND LIMITED
Quarterly Sales Report