Restaurant Brands International Inc. · NYSE:QSR
Restaurant Brands International — RBC Capital Markets Consumer & Retail Conference 2018
29 slides from Restaurant Brands International's conference presentation, May 30, 2018
Slide 1: Restaurant Brands International
Restaurant Brands | International Restaurant Brands International Daniel Schwartz - CEO RBC Capital Markets Consumer & Retail Conference - May 30, 2018
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation contains certain forward-looking statements and information, which reflect management's current beliefs and expectations regarding future events and operating performance and speak only as of the date hereof. These forward-looking statements are not guarantees
Slide 3: Restaurant Brands International
Restaurant Brands. International Since Acquired 1954 2010 >16,800 Restaurants Tim Motlous Since Acquired 1964 2014 >4,700 Restaurants Since Acquired 1972 2017 >2,900 Restaurants
Slide 4: 2018 Priorities
2018 Priorities 6 Continue Burger King’s system-wide sales momentum B Improve comparable sales for Tim Hortons c Establish partnerships to accelerate Popeyes restaurant growth Dp) Leverage technology to enhance guest experience rE) Maintain a balanced approach to capital allocation
Slide 5: Burger King
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Slide 6: Burger King system-wide sales, restaurant growth and EBITDA
System-wide Sales ($bn) Net Restaurant Growth +40% +6.3x 1,091 es $14.8 173 2010 Q1'18 LTM 2010 Q1'18 LTM BK Adjusted EBITDA ($mm) +2.1x $931 $454 2010 Q1'18 LTM Note: Q1'18 LTM BK Adjusted EBITDA under "Previous Standards” for each period, as defined in RBI’s Q1'18 earnings press release.
Slide 7: Burger King Global Footprint
Burger King Global Footprint JV Partnerships © Brazil Qcarrois I Presence (excl. MFs) IB ors / MFjVs Implemented
Slide 8: Burger King growth in China, Brazil, Russia, France
CL) China © Brazil ta Russia O France +10x 875+ +5x ~700 76x 520+ a 200+ <150 <90 oh) <10 2012 2017 2011 2017 2012 2017 2013 2017
Slide 9: Significant Growth Opportunity Remaining
Significant Growth Opportunity Remaining VA) BK Momentum r ) Latin America & Caribbean @& 1,963 Note: BK restaurant count as of Q1'18. McDonald's figures as per MCD Store Counts by Country. 9
Slide 10: Tim Hortons
Slide 11: Tim Hortons system-wide sales, restaurant growth and EBITDA
System-wide Sales (C$bn) Net Restaurant Growth era : C$8.7 130 5 Z i 2014 Q1'18 LTM 2014 Q1'18 LTM TH Adjusted EBITDA (CSmm) +1.6x 1. oa c$901 PF 2014 Q1'18 LTM Note: Q1'18 LTMTH Adjusted EBITDA under “Previous Standards” for each period, as defined in RBI's Q1'18 earnings press release. Reported sy
Slide 12: Winning Together Plan
Winning Together Plan TH Sales Restaurant Experience Excellence Communications
Slide 13: Guest feedback on new restaurant design
of Guests “agreed completely” that Welcome interior is “new and up to date” of Guests perceive Welcome Image as “better’ than competition ” of Guests “more likely” to become repeat visitors at Welcome restaurants, as a result of new design Sour
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Slide 15: Brand Communications
Brand Communications
Slide 16: Significant White Space for Growth
Significant White Space for Growth — me — =~ Sori aes
Slide 17: Popeyes
Slide 18: Popeyes system-wide sales, restaurants and EBITDA
RE iter 48 seciiamea ee a DOTS a IIS IMS ete D016 ee OTE EI Meee ER ik, eee Es Binegerrs Ea, +1.5x ga, ae ee ay Ee $148 af ZO 1b ak Q1'18 LTM = = Note: Q118 LTM PLK Adjusted EBITDA under "Previous Standards" for each period, as defined in RBI's QI"8 earnings press release. For 2016, PLK figures are
Slide 19: Roadmap for Popeyes Growth Potential
Roadmap for Popeyes Growth Potential C) PLK Growth Net Restaurant Growth Significant-Potential 1,091 2 173 158 2010 Q118 LTM 2016 Future
Slide 20: Global Expansion Opportunity
Global Expansion Opportunity ic) PLK Growth oe Latin America & Caribbean 101 @ 1,963 J © Brazil PLK MF ac >300/10 years Note: PLK and BK restaurant count as of Q1'18; KFC figures as per Yum! 2017 Financial Summary. Hi Existing Presence Hi MFs Implemented 20
Slide 21: Restaurant Brands International
Restaurant Brands. International
Slide 22: Technology Update
Technology Update J Technology Chipotle Cheddar Steak a © ee ctee co Ww Fcc | LOUISIANA FLAVOR A ats woes DOORQ DW cera tree cote: 2 ' => 78 ~400 US restaurants offering delivery Kiosks per restaurant in France Future Opportunities Personalized marketing Rewards ~ 2 5% —~ 1 /1 0 0) ~ 2 5 te Restaura
Slide 23: Summary Financials
Summary Financials System-wide Sales ($bn) Adj. EBITDA ($mm) +2.0x +4.8x $30 $2,168 $1,88: $24 $24 $25 $1,542 $1,666 $15 $15 $16 $16 666 Hill rane 2010 2011 2012 2013 2014 392015 2016 2017 2010 2011 2012. 2013 2014 2015 2016 2017 Adj. EPS ($ / shr) Adj. EBITDA — Capex ($mm) if +6.6x $2,129 4 $1,855
Slide 24: Leverage
Leverage e Capital Allocation (Net Debt + Preferred) / LTM Adj. EBITDA TH acquired December 12, 2014 PLK acquired March 27, 2017 0.8x Reduction in < 1 Year 6x. > 5.2x 2.0x Reduction in 2 Years TBR Se eee eS 6.7x | ; 2014 2015 2016 6.5: 5.7x [ brands. Wendys 3.8x Reduction in < 4 Years 5.0x He 1x nm
Slide 25: Dividends
Dividends @ Capital Allocation Dividend Growth Over Time +7.5x > $1.80 $0.78 2013 2014 2015 2016 2017 2018 Note: Reflects BKW dividends from 2013 to 2014 and RBI dividends from 2015 to 2018. 2018 targeted dividend of $1.80 per common share and Partnership Exchangeable Unit ("PEU”), of which $0.45 ha
Slide 26: Growth History
Growth History Metric P2010 | aristtM | Growih | Iconic Brands @ Restaurant Count 12,251 24,559 +2x System-wide Sales $15bn $31bn +2x Adj. EBITDA - Capex $0.3bn $2.2bn +7X Net Debt / Adj. EBITDA 6.7x 5.2x (1.5x) Cumulative Capital is $3bn Returned to Shareholders 1) Includes dividends on Common and
Slide 27: Global QSR Leader
Global QSR Leader Leading Global QSR with Unique Culture Three Iconic Brands with Rich Heritages Significant Global Expansion Potential Platform for Strong, Stable Free Cash Flow Generation Long-term Mindset
Slide 28: Restaurant Brands International
Restaurant Brands. International
Slide 29: Q&A
Q&A
Restaurant Brands International — RBC Capital Markets Consumer & Retail Conference 2018 on 6ix