Restaurant Brands International — Feb 12, 2026 release

As such, results include intersegment Franchise and property revenues and Advertising revenues and other services from the Carrols Burger King restaurants included in RH (as footnoted above). Burger King U.S. Reclaim the Flame Burger King is executing its multi-year "Reclaim the Flame" plan to accelerate sales growth and drive franchisee profitability. This plan includes investing up to $700 million through year-end 2028, comprised of advertising and digital investments ("Fuel the Flame") and high-quality remodels and relocations, restaurant technology, kitchen equipment, and building enhancements ("Royal Reset"). The Fuel the Flame investments were completed in the fourth quarter ended December 31, 2024. As of December 31, 2025, we have funded $176 million out of up to $550 million planned toward the Royal Reset investments. Burger King 2025 Results The increase in Total revenues for the fourth quarter and full year was primarily driven by increases in Advertising revenues and other services primarily due to an increase in advertising fund contributions from franchisees reflecting an increase in the contribution rate. For the fourth quarter, these increases were partially offset by lower Company restaurant sales as a result of Company restaurant refranchising. The increase in Adjusted Operating Income for the fourth quarter and full year was primarily driven by the non-recurrence of $41 million and $61 million, respectively, of Fuel the Flame expenses incurred in the prior year period. For the full year, the increase also reflects a decrease in Segment G&A due primarily to l