Q1 Sales Announcement

NZX/ASX
1 May 2024


Q1 SALES ANNOUNCEMENT

Restaurant Brands New Zealand Limited (“RBD”) has today released its Q1 sales results.

FY24 Q1 Sales Results
RBD total sales for the first quarter to 31 March 2024 were $333.0 million, representing a $24.4 million
(+7.9%) increase on the equivalent period last year.

Strong sales growth in the New Zealand and Hawaiian markets offset slowing sales growth in Australia
and negative sales growth in California. Cost of living pressures, driven by inflation and elevated interest
rates, continue to impact consumer spending in all our markets.
The Group remains focused on driving improved margins and increased profit levels while maintaining
brand health, protecting our strong customer base and continuing to position the business to deliver
sustainable long-term value.

This is supported by ongoing strategic pricing and cost control programmes across all markets,
alongside investments into technology, product innovation, network expansion and brand experience.
New Zealand
New Zealand sales for the first quarter were $149.0 million, up 15.2% in total and 11.4% on a same
store basis. Sales increased across all brands, driven by additional store openings, innovation through
marketing initiatives and improvement in trading hours which has flowed through to solid transaction
growth.
Store numbers increased by two to 149 stores during the quarter. In addition to the 149 company owned
stores, the business has 122 Pizza Hut stores run by independent franchisees (an increase of 12 stores
from March 2023).

Australia
Australia sales for the first quarter were $A68.9 million ($NZ73.9 million), an increase of 1.4% in total
on the prior year (local currency). Same store sales were down 2.7% (local currency). Cost of living
pressures continue to have a significant impact in this market on discretionary household expenditure.

Store numbers remained at 84 stores for the quarter.

Hawaii
Hawaii sales for the first quarter were $US41.1 million ($NZ67.1 million), an increase of 5.6% in total
on the prior year (local currency). Same store sales were up 6.7% (local currency). Hawaii trading
remains solid, particularly in Taco Bell stores, driven by successful new product initiatives.

Store numbers remained at 70 stores for the quarter.

California
California sales for the first quarter were $US26.3 million ($NZ43.0 million), a decrease of 4.2% in total
on the prior year (local currency). Same store sales were down 7.7% (local currency). Cost of living
pressures continue to have a significant impact in this market on discretionary household expenditure.

Store numbers remained at 75 stores for the quarter.


RESTAURANT BRANDS NEW ZEALAND LIMITED

Annual Shareholder Meeting
The Annual Shareholders’ Meeting of the company will be held on Friday 24 May 2024, commencing
at 10:00am at The Sofitel, 21 Viaduct Harbour Avenue, Auckland CBD and online at
https://meetnow.global/nz.


For more information: investor@rbd.co.nz

Authorised by:
Arif Khan Julio Valdés
Group CEO
+64 9 525 8700
Group CFO
+64 9 525 8700





Ends

2024 ($000's )2023 ($000's )Change
Total Store Sales ($NZ)
Q1 2024 vs Q1 2023

New Zealand
148,993 129,380 15.2%
Australia
73,931 73,706 0.3%
Hawaii
67,057 61,776 8.5%
California
43,015 43,703 (1.6%)
Total Store Sales
332,997 308,565 7.9%
YTD 2024 vs YTD 2023
New Zealand
148,993 129,380 15.2%
Australia
73,931 73,706 0.3%
Hawaii
67,057 61,776 8.5%
California
43,015 43,703 (1.6%)
Total Store Sales
332,997 308,565 7.9%
20242023Change
Same Store Sales
Q1 2024 vs Q1 2023
New Zealand
11.4% 7.4% 4.0%
Australia
(2.7%)11.2% (13.9%)
Hawaii
6.7% 1.0% 5.7%
California
(7.7%)(4.0%)(3.7%)
YTD 2024 vs YTD 2023
New Zealand
11.4% 7.4% 4.0%
Australia
(2.7%)11.2% (13.9%)
Hawaii
6.7% 1.0% 5.7%
California
(7.7%)(4.0%)(3.7%)
RESTAURANT BRANDS NEW ZEALAND LIMITED
Quarterly Sales Report
Summary of Results for the 1st Quarter (Q1)
(for the 3 months 01/01/24 to 31/03/24)

2024 ($000's )2023 ($000's )Change
Total Store Sales (Local Currency)
Q1 2024 vs Q1 2023
New Zealand ($NZ)
148,993 129,380 15.2%
Australia ($A)
68,871 67,906 1.4%
Hawaii ($US)
41,079 38,900 5.6%
California ($US)
26,349 27,514 (4.2%)
YT D 2024 vs YT D 2023
New Zealand ($NZ)
148,993 129,380 15.2%
Australia ($A)
68,871 67,906 1.4%
Hawaii ($US)
41,079 38,900 5.6%
California ($US)
26,349 27,514 (4.2%)
20242023Change
Number Of Stores Open At Quarter End
New Zealand
149 143 6
Australia
84 83 1
Hawaii
70 75 (5)
California
75 75 0
Total Stores
378 376 2
Exchange Rates
- Blended $A:$NZ rate for Q10.932 0.921 0.011
- Blended $A:$NZ rate for YTD0.932 0.921 0.011
- Blended $US:$NZ rate for Q10.613 0.630 (0.017)
- Blended $US:$NZ rate for YTD0.613 0.630 (0.017)
Note: Som e s ales num bers for each of the divis ions m ay not aggregate in total due to rounding.
Summary of Results for the 1st Quarter (Q1)
(for the 3 months 01/01/24 to 31/03/24)
RESTAURANT BRANDS NEW ZEALAND LIMITED
Quarterly Sales Report