An anonymous director reports

RESTAURANT BRANDS INTERNATIONAL INC. ANNOUNCES RECEIPT OF EXCHANGE NOTICE FOR APPROXIMATELY 2.8 MILLION CLASS B EXCHANGEABLE LIMITED PARTNERSHIP UNITS AND INTENT TO SATISFY WITH CASH ON HAND

Restaurant Brands International Inc.'s Restaurant Brands International Limited Partnership has received an exchange notice from 3G Restaurant Brands Holdings LP, an affiliate of 3G Capital Partners Ltd., to exchange 2,784,549 Class B exchangeable limited partnership units of RBI LP.

RBI LP intends to satisfy this notice with the repurchase of these exchangeable units for cash, using available cash on hand. Once the exchange is settled, the exchangeable units will be cancelled, decreasing the fully diluted common shares of RBI by the same number of exchangeable units. On an as adjusted basis after giving effect to the exchange, RBH will hold approximately 21 per cent of RBI's fully diluted common shares.

The exchange date is scheduled to occur on Aug. 31, 2026, and the repurchase of exchangeable units for cash will be based on the 20-day volume-weighted average price of the company's common shares traded on the New York Stock Exchange in U.S. dollars in accordance with the terms of the limited partnership agreement of RBI LP. The exchange notice is irrevocable.

About Restaurant Brands International Inc.

Restaurant Brands is one of the world's largest quick-service restaurant companies with nearly $49-billion in annual system-wide sales and over 33,000 restaurants in more than 120 countries and territories. Restaurant Brands owns four of the world's most prominent and iconic quick-service restaurant brands: Tim Hortons, Burger King, Popeyes and Firehouse Subs. These independently operated brands have been serving their respective guests, franchisees and communities for decades. Through its Restaurant Brands for Good framework, Restaurant Brands is improving sustainable outcomes related to its food, the planet, and people and communities.

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