Mr. Josh Kobza reports

RBI AND CPE COMPLETE PREVIOUSLY ANNOUNCED JOINT VENTURE TO REIGNITE GROWTH AT BURGER KING(TM) IN CHINA

Restaurant Brands International Inc. and CPE have completed their previously announced joint venture, marking an important step forward in Burger King China's next phase of growth.

Upon closing of the transaction, CPE invested $350-million of new primary capital into the joint venture and now owns approximately 83 per cent of the business, with Restaurant Brands retaining a 17-per-cent minority interest and a seat on the board of directors. The partnership combines Burger King's globally iconic brand and products with CPE's deep local market expertise, creating a strong foundation to accelerate growth and enhance the guest experience across China.

A wholly owned affiliate of Burger King China has also entered into a 20-year master development agreement, granting it exclusive rights to develop the Burger King brand in China. Together, CPE and Restaurant Brands aim to expand Burger King's restaurant network in China from approximately 1,250 restaurants today to more than 4,000 by 2035, while delivering sustainable same-store sales growth through disciplined execution and continued focus on food quality and brand relevance.

Josh Kobza, chief executive officer of Restaurant Brands International, said: "China remains one of the most important long-term growth opportunities for the Burger King brand globally. With CPE as our partner and a clear strategy focused on food quality, restaurant execution and brand relevance, we believe Burger King China is well positioned to build a high-quality, sustainable business."

About Restaurant Brands International Inc.

Restaurant Brands International is one of the world's largest quick service restaurant companies with over $45-billion in annual system-wide sales and over 32,000 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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