Restaurant Brands International — Nov 5, 2024 release

As of September 30, 2024, we have funded a total of $93 million toward the Fuel the Flame investments and $107 million toward our Royal Reset investments. On April 30, 2024, Burger King announced its Royal Reset 2.0 program and expects to invest an additional $300 million in remodels from 2025 through 2028. Together with the initial Reclaim the Flame investment and plans to remodel 600 of the recently acquired Carrols restaurants, Burger King will be on a path to achieve its goal of 85% to 90% modern image by 2028. 5 TH Segment Results Three Months Ended September 30, (in US$ millions) 2024 2023 (Unaudited) System-wide Sales Growth 2.8  % 8.1  % System-wide Sales $ 1,952 $ 1,929 Comparable Sales 2.3  % 7.6  % Net Restaurant Growth 0.0  % (0.4) % System Restaurant Count at Period End 4,504 4,502 Supply Chain Sales $ 699 $ 706 Company Restaurant Sales $ 11 $ 12 Franchise and Property Revenues $ 255 $ 253 Advertising Revenues and Other Services $ 79 $ 82 Total Revenues $ 1,044 $ 1,052 Supply Chain Cost of Sales $ 559 $ 572 Company Restaurant Expenses $ 9 $ 10 Franchise and Property Expenses $ 83 $ 80 Advertising Expenses and Other Services $ 78 $ 84 Segment G&A $ 36 $ 43 Adjustments: Franchise Agreement Amortization $ 2 $ 2 Cash Distributions Received from Equity Method Investments $ 4 $ 4 Adjusted Operating Income $ 284 $ 269 Share-based Compensation and Non-Cash Incentive Compensation Expense $ 10 $ 13 Depreciation and Amortization, excluding Franch