An anonymous director reports

RESTAURANT BRANDS INTERNATIONAL INC. ANNOUNCES ADOPTION OF SHARE REPURCHASE AUTHORIZATION

Restaurant Brands International Inc.'s board of directors has approved a share repurchase authorization pursuant to which RBI may purchase up to $1.0-billion (U.S.) of its common shares over the next two years through Sept. 30, 2025. This approval follows the expiration of RBI's prior two-year authorization to repurchase up to the same $1-billion (U.S.) amount of its common shares.

Pursuant to the repurchase authorization, and subject to the approval of the Toronto Stock Exchange (TSX), RBI intends to commence a normal course issuer bid (NCIB) permitting the purchase for cancellation of common shares of up to 10 per cent of its public float.

Under its last NCIB which commenced on Aug. 17, 2022, and expired on Aug. 16, 2023, RBI previously sought and received approval from the TSX to repurchase up to 30,254,374 common shares (which represented 10 per cent of its public float as of Aug. 17, 2022). Despite this approval, RBI did not repurchase any common shares under the 2022 NCIB.

About Restaurant Brands International Inc.

Restaurant Brands International is one of the world's largest quick-service restaurant companies with over $40-billion in annual systemwide sales and over 30,000 restaurants in more than 100 countries. RBI 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, RBI is improving sustainable outcomes related to its food, the planet, and people and communities.

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