Mr. Yongchen Lu of Tims China reports

TIMS CHINA LAUNCHES NATIONWIDE EXPANSION OF POPEYES(TM) IN CHINA WITH GRAND OPENING OF FIRST FLAGSHIP RESTAURANT IN SHANGHAI

TH International Ltd. (Tims China), founded by Cartesian Capital Group and Tim Hortons Restaurants International, a subsidiary of Restaurant Brands International Inc., the exclusive operator of Tim Hortons coffee shops and Popeyes restaurants in China, started the nationwide expansion of Popeyes in China on Aug. 19, with the opening of its first flagship restaurant in Shanghai. A grand opening celebration and ribbon-cutting ceremony were held at the new restaurant in the heart of Shanghai's Huaihai commercial district. Popeyes set an opening day record with 1,761 orders.

Guests eagerly waited in a queue that exceeded hundreds of metres along Huaihai Rd., with some arriving the night before, such as Miss Xiao, who arrived first at 10:30 p.m. on Aug. 18. The opening of the new flagship restaurant in Shanghai comes less than six months after Tims China became the exclusive operator and developer of the Popeyes brand in China in March, 2023. Tims China plans to open at least 10 Popeyes restaurants in Shanghai this year and 1,700 across China over the next 10 years.

"We are thrilled to open our first Popeyes restaurant in China, a milestone in our longer-term strategy to establish a strong presence across the country, leveraging Tims' infrastructure and operating expertise," said Yongchen Lu, chief executive officer of Tims China. "Despite a challenging overall macro economic environment, food service retail sales have been a bright spot in China's post-COVID recovery -- one of the sectors that has rebounded strongly. Popeyes offers a fried-chicken recipe that Chinese diners will love, and a brand identity based on Louisiana's signature joie de vivre that will appeal to younger consumers increasingly seeking new dining experiences. Our high-traffic location in Shanghai and our sensational grand opening -- featuring a jazz band and lots of Louisiana flavour -- are already creating significant buzz around the brand, which will provide momentum for our upcoming expansion. Our proven track record of opening 700 Tims stores over the past four years shows how our team can deliver on an accelerated growth strategy. Adding Popeyes to the Tims China portfolio will deliver economies of scale and supply chain synergies for both brands, driving further growth for our company."

"We are very excited to bring our iconic Popeyes brand to China with Tims China, a highly reputable operator," said Rafael Odorizzi, president, Restaurant Brands International APAC. "This opening illustrates our commitment to serving more guests around the world with our unique New Orleans-style menu and marks the execution of our ambitious growth plans for the Asia Pacific region."

The Tims China team has leveraged its deep local expertise in China's quick-service restaurant industry to adapt Popeyes' menus, restaurant design and dining experience for the Chinese consumer. The localized menu features new options that blend Cajun traditions with local Chinese tastes, including sweet chili chicken, golden cheese and chicken nuggets, and a Longjing tea-based pomelo milkshake. It also features Popeyes' signature items, including New Orleans-style spicy chicken, Louisiana-style seafood such as Cajun popcorn shrimp, and sides, including mashed potatoes with Cajun gravy. Popeyes chicken is marinated in a unique blend of Louisiana Cajun spices for 12 hours, then battered, breaded and slow-cooked to perfection, enhancing its rich and savory flavour.

The flagship restaurant has a modern look, combining the Popeyes brand's traditional orange with a new shade of teal dubbed "NOLA teal." With a New Orleans-style balcony, colourful artwork and jazz music, the store design evokes the exuberant and carefree spirit of the Big Easy, combining food, music and fun in a brand image designed to appeal to younger-generation consumers.

About TH International Ltd.

TH International is the parent company of the exclusive master franchisees of Tim Hortons coffee shops in mainland China, Hong Kong and Macau, and Popeyes restaurants in mainland China and Macau. Tims China was founded by Cartesian Capital Group and Tim Hortons Restaurants International, a subsidiary of Restaurant Brands International.

The company's philosophy is rooted in world-class execution and data-driven decision making, and centred on true local relevance, continuous innovation, genuine community and absolute convenience.