Slide 1: Tims China Q2 2026 Earnings Presentation
Tims China Nasdaq: THCH Q2 2026 Earnings Presentation August 18, 2026
Slide 2: Disclaimer and Risk Factors
Disclaimer and Risk Factors This presentation ("Presentation") is provided by TH International Limited (“THIL") for informational purposes only and does not constitute, or form a part of, an offer to sell, or the solicitation of an offer to sell or an offer to buy, any securities. The information he
Slide 3: 01. Business Update
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Slide 4: Resilient Store Network & Loyalty Membership Highlights
Resilient Store Network & Loyalty Membership Highlights: 2026Q2 YoY % Q2’24 Q2’25 Q2’26 (26 vs 25) Total stores 907 1,015 1,028 1.3% (1) Net new stores 1 (9) 2 (122.0)% Registered Loyalty club members (mm) 21.4 26.2 37.1 41.7% (2) Digital orders % 86.5% 90.4% 91.8% 1.4ppts Total revenues (RMB mm) 36
Slide 5: Summer Fruit Coffee Innovations Drive Repeat Purchases and Attract New Customers
Summer Fruit Coffee Innovations Drive Repeat Purchases and Attract New Customers Melon Coffee Collection Queen Nina Grape Series Bayberry Series
Slide 6: Great Tasting and Innovative Products Meet Local Customer Demand
Great Tasting and Innovative Products Meet Local Customer Demand New York-Style Slow-Cooked Beef Black Truffle Bacon Angus Beef Bagel Salt Croissant Sandwich Lunch Box Shoulder Bagel Sandwich
Slide 7: GWP Activation Drives Combo Penetration and Social Media Buzz
GWP Activation Drives Combo Penetration and Social Media Buzz Grape Plush Keychain Ice Power Cup Avocado Plush Keychain & Canvas Tote Bag
Slide 8: Brand Collaboration with Adidas and Topsports to Elevate Brand Identity
Brand Collaboration with Adidas and Topsports to Elevate Brand Identity Among Young, Active Consumers
Slide 9: Sustainability & Social Responsibility
Sustainability & Social Responsibility • On Children's Day this June, Tims China partnered with the Adream Foundation to launch "Super Cup Fuels Dreams" — a campaign turning every cup into a force for good. For each large beverage sold, Tims donated RMB 1 to the "Go Far" program, which provides unde
Slide 10: Focus on Profitable & Capital-Efficient Store Network Expansion
Focus on Profitable & Capital-Efficient Store Network Expansion Total Stores Market Entry Store Formats Q2 25 Q2 26 1,015 1,028 907 32% 24% 700 449 484 333 129 90 93 76% 571 574 566 544 68% Q2 23 Q2 24 Q2 25 Q2 26 Q2 25 Q2 26 MTO store Non-MTO store Company owned and operated Franchised Total 2 Net
Slide 11: The Individual Franchise Stores Have Demonstrated Strong Growth
The Individual Franchise Stores Have Demonstrated Strong Growth Applications(1) Made-to-order Store Payback Period 11,000+ 2-3 years Individual franchise stores(1) Individual Franchise stores already located across 14 provinces: Signed # ~430 Shanghai、Beijing、Zhejiang、Jiangsu、Anhui、 Sichuan、Henan、Sh
Slide 12: Strategic Expansion of Our Franchise Network on Track
Strategic Expansion of Our Franchise Network on Track Total Sub-Franchise Stores 275% Maintain Close Cooperation with Sub- Franchisee Partners 484 449 333 129 Q2 23 Q2 24 Q2 25 Q2 26 Revenues from Sub-Franchise Business (RMB mm) 202% 62.2 49.2 36.1 New Sub-Franchisee Store in Beijing 16.3 Q2 23 Q2 2
Slide 13: Steady Growth of Loyalty Club Members and Digital Orders
Steady Growth of Loyalty Club Members and Digital Orders Registered Loyalty Club Members (mm) Number of Orders (mm) 41.7% 13.3 13.3 14.0 37.1 12.0 26.2 21.4 14.7 Q2 23 Q2 24 Q2 25 Q2 26 Q2 23 Q2 24 Q2 25 Q2 26 Average Club Members Per Store (thousands) Digital Orders% (1) 39.9% 36.1 90.4% 91.8% 25.8
Slide 14: Development: Store Portfolio Breakdown
Development: Store Portfolio Breakdown System-wide stores breakdown 1,028 1,028 1,028 1,028 1,028 2026 69 Tier 3&4 170 248 Other 238 159 Non- 2025 SFZ 484 MTO 227 61 Transport- 197 Hubs 116 2024 Tier 2 Community 281 2023 217 780 CO 631 Office 544 MTO Commercial 332 Before 2022 386 Tier 1 By Ownershi
Slide 15: 02. Financial Highlights
02. Financial Highlights
Slide 16: Top-line & Store Network Highlights
Top-line & Store Network Highlights Total Revenues (RMB mm) System-wide Stores(1) (21.7)% 1,015 1,028 907 323 248 700 825 411.7 700 692 780 366.8 349.0 273.4 0 82 Q2 23 Q2 24 Q2 25 Q2 26 Q2 23 Q2 24 Q2 25 Q2 26 MTO store Non-MTO store System Sales(2) (RMB mm) System-wide Stores(1) (15.1)% 1,015 1,02
Slide 17: Key Store and Corporate Financial Metrics: 2026Q2
Key Store and Corporate Financial Metrics: 2026Q2 Q2 2024 2025 2026 YOY (26 vs. 25) Food and packaging (1) 30.9% 30.1% 28.3% 180bp Rental and property management fee (1) 19.3% 20.2% 21.7% 150bp Payroll and employee benefits (1) 18.9% 17.8% 19.9% 210bp Other operating expenses (1) 7.6% 7.2% 7.9% 70bp
Slide 18: Near-Term Priorities
Near-Term Priorities Deliver Sustainable Revenue Growth Expand Store-Level Profitability Optimize Cost Structure Accelerate Franchising Store Development Achieve Corporate EBITDA Breakeven
Slide 19: About TH International Limited
About TH International Limited TH International Limited (Nasdaq: THCH) (“Tims China”) is the parent company of the exclusive master franchisees of Tim Hortons coffee shops in mainland China, Hong Kong, and Macau. The company’s philosophy is rooted in world- class execution and data-driven decision m