Q1 Sales Announcement

NZX/ASX 1 May 2024 Q1 SALES ANNOUNCEMENT Restaurant Brands New Zealand Limited ("RBD") has today released its Q1 sales results. FY24 Q1 Sales Results RBD total sales for the first quarter to 31 March 2024 were $333.0 million, representing a $24.4 million (+7.9%) increase on the equivalent period last year. Strong sales growth in the New Zealand and Hawaiian markets offset slowing sales growth in Australia and negative sales growth in California. Cost of living pressures, driven by inflation and elevated interest rates, continue to impact consumer spending in all our markets. The Group remains focused on driving improved margins and increased profit levels while maintaining brand health, protecting our strong customer base and continuing to position the business to deliver sustainable long-term value. This is supported by ongoing strategic pricing and cost control programmes across all markets, alongside investments into technology, product innovation, network expansion and brand experience. New Zealand New Zealand sales for the first quarter were $149.0 million, up 15.2% in total and 11.4% on a same store basis. Sales increased across all brands, driven by additional store openings, innovation through marketing initiatives and improvement in trading hours which has flowed through to solid transaction growth. Store numbers increased by two to 149 stores during the quarter. In addition to the 149 company owned stores, the business has 122 Pizza Hut stores run by independent franchisees (an increase of 12 stores from March 2023). Australia Australia sales for the first quarter were $A68.9 million ($NZ73.9 million), an increase of 1.4% in total on the prior year (local currency). Same store sales were down 2.7% (local currency). Cost of living pressures continue to have a significant impact in this market on discretionary household expenditure. Store numbers remained at 84 stores for the quarter. Hawaii Hawaii sales for the first quarter were $US41.1 million ($NZ67.1 million), an increase of 5.6% in total on the prior year (local currency). Same store sales were up 6.7% (local currency). Hawaii trading remains solid, particularly in Taco Bell stores, driven by successful new product initiatives. Store numbers remained at 70 stores for the quarter. California California sales for the first quarter were $US26.3 million ($NZ43.0 million), a decrease of 4.2% in total on the prior year (local currency). Same store sales were down 7.7% (local currency). Cost of living pressures continue to have a significant impact in this market on discretionary household expenditure. Store numbers remained at 75 stores for the quarter. Annual Shareholder Meeting The Annual Shareholders' Meeting of the company will be held on Friday 24 May 2024, commencing at 10:00am at The Sofitel, 21 Viaduct Harbour Avenue, Auckland CBD and online at https://meetnow.global/nz. For more information: investor@rbd.co.nz Authorised by: Arif Khan Group CEO +64 9 525 8700 Julio Valdes Group CFO +64 9 525 8700 ENDS. End CA:00430309 For:RBD Type:MKTUPDTE Time:2024-05-01 08:30:27