FACT SHEET RESTAURANT BRANDS

ABOUT RESTAURANT BRANDS: COMPANY INFORMATION Restaurant Brands is a corporate franchisee specialising in multi-site branded food retail chains. It operates the KFC, and Starbucks Coffee brands in under long-term Restaurant Brands New Zealand Ltd franchising arrangements. It dominates fast food retailing in New Zealand serving more than Address: P.O. Box 22-749 60,000 customers daily from more than 200 outlets and is considered a global ‘best practice’ Otahuhu operator, particularly with its KFC business. The company seeks to be a world-class operator of multi-site branded food outlets while New Zealand delivering long-term attractive and sustainable returns for its shareholders. It achieves this Telephone: + 64 9 525 8700 by: ensuring the brands are highly attuned to local customer demand; achieving world-class Facsimile: + 64 9 525 8711 operational performance; adapting and expanding its outlets and acquiring new multi-site Email: [email protected] branded food concept rights where there is demonstrable potential to add shareholder value. Websites: www.restaurantbrands.co.nz KEY FINANCIALS: Restaurant Brands NZ Ltd. 2011 2010 2009 2008 2007 SHARE INFORMATION Year to February NZ$m NZ$m NZ$m NZ$m NZ$m NZX code RBD Continuing operations Share price Brand sales* 324.4 317.8 309.1 303.5 293.7 at May 31 2011 NZ$2.68 Other sales 0.5 0.5 0.5 0.4 0.4 Shares on issue 97,777,758 Total sales 324.9 318.3 309.6 303.9 294.1 Market capitalisation $262.1m Brand EBITDA** 61.9 54.9 43.7 44.2 39.9 Dividend yield net* 6.3% Operating profit (EBIT) 35.0 29.2 15.6 16.1 -1.1 Financial year end February 28 Group net profit after tax 24.3 19.5 8.3 8.4 -3.6 Industry sector Services, consumer NZX indices:  NZX50 Portfolio; NZX 50; Earnings per share (cents)*** 24.9 20.1 8.5 8.6 -3.7 NZX All; NZX Mid Cap Index *Dividends are fully imputed with a supplementary Dividend per share (cents) 17.0 12.5 7.0 6.5 5.5 dividend paid to overseas investors. Gearing (debt: debt+equity) 17% 27% 48% 55% 58% * Sales attributable to KFC, Pizza Hut and Starbucks Coffee ** Earnings before interest tax depreciation and amortisation attributable to KFC, Pizza Hut and Starbucks Coffee excluding general & administrative expenses REGISTRY INFORMATION *** Diluted earnings per share from total operations Share registry: Computershare Investor Services DIVIDEND POLICY Private Bag 92 119 Restaurant Brands has no fixed distribution policy. In the year to February 28, 2011 the company Auckland 1142 paid out out 64% of net profit after tax in dividends. The Board of Directors intends to increase the pay-out to shareholders as long as profitability and free cash flow continues to grow and the Telephone +64 9 488 8700 company can satisfy requirements to reinvest in the business. Restaurant Brands has a dividend Facsimile +64 9 488 8787 re-investment plan in place, however this is currently suspended. Website www.computershare.co.nz SHAREHOLDER RETURNS SHARE PRICE & TRADING VOLUME RELATIVE PERFORMANCE^ Index Value 12 $3.00 450 RBD m shares traded monthly [left axis] 400 10 $2.50 NZ50G closing price [right axis] 350 8 $2.00 300

250 6 $1.50 200

4 $1.00 150 100 2 $0.50 50 0 0 May 06 May 07 May 08 May 09 May 10 May 11 May 06 May 07 May 08 May 09 May 10 May 11

^ RBD and NZ50Gross Index closing prices on NZX adjusted for dividends

RESTAURANT BRANDS » Company Fact Sheet *all data correct as at 31 May 2011 1 BRAND SNAPSHOT: KFC KFC is the engine room of Restaurant Brands business serving over 300,000 customers each week. The company owns and operates 89 KFC stores and oversees a further 7 independent franchisee stores. KFC in New Zealand has enjoyed a renaissance recently after Restaurant Brands committed to the transformation of its store network to make them more inviting, upmarket and customer friendly. The KFC menu has also expanded with a greater emphasis on easy-to-eat items although the core of the business remains the Colonel’s Original Recipe® chicken. The brand is operated in New Zealand under long term franchising arrangements with the world’s largest restaurant operator Yum! Brands.

2011 2010 2009 2008 2007 KFC NZ$m NZ$m NZ$m NZ$m NZ$m Sales 235.8 223.2 211.5 199.1 182.7 Same store sales growth 4.4% 9.2% 4.1% 7.7% 7.1% EBITDA* 52.1 46.3 38.0 35.9 31.2 EBITDA margin** 22.1% 20.7% 18.0% 18.0% 17.1% Contribution to group EBITDA 84% 84% 87% 81% 78% Company-owned stores 89 85 84 87 87 *Earnings before interest tax depreciation and amortisation before general & administrative expenses ** EBITDA (before general & administration expenses)/sales www..co.nz

PIZZA HUT Restaurant Brands owns and operates 82 New Zealand Pizza Hut stores, all of which are committed to providing the freshest and tastiest pizza in the country. The Pizza Hut brand was launched in New Zealand in 1974 as a dine-in restaurant concept, but since then the brand has evolved into a nationwide store network of take-away and home-delivery stores which handle over 56,000 customer orders each week. Pizza Hut is pursuing a strategy of selling a number of smaller regional stores to independent franchisees where a more personal approach to running a store on a smaller sales base makes economic sense for both Restaurant Brands and the franchisee. Restaurant Brands is concentrating its pizza business around larger urban centres, whilst still overseeing a national presence for the Pizza Hut brand as the biggest operator in the country. The Pizza Hut brand is franchised from Yum Brands! under long-term agreements.

2011 2010 2009 2008 2007 PIZZA HUT NZ$m NZ$m NZ$m NZ$m NZ$m Sales 59.3 64.2 64.6 71.4 79.7 Same store sales growth -3.8% 3.9% -6.5% -7.0% -11.8% EBITDA* 5.6 5.4 2.8 4.4 5.1 EBITDA margin** 9.4% 8.4% 4.3% 6.2% 6.4% Contribution to group EBITDA 9% 10% 6% 10% 13% Company-owned stores 82 91 93 97 103 *Earnings before interest tax depreciation and amortisation before general & administrative expenses ** EBITDA (before general & administration expenses)/sales www.pizzahut.co.nz

STARBUCKS COFFEE: The Starbucks Coffee experience is all about quality coffee, great atmosphere, fun people and fun times. In New Zealand, Starbucks serves over 82,000 customers a week, providing a full coffeehouse experience including handcrafted coffees, a selection of premium Tazo® teas, fine pastries and other treats to please the taste buds as well as a range of branded merchandise. Restaurant Brands began operating the brand in 1998 after securing a long- term licensing agreement with Starbucks Coffee International. There are currently 37 Starbucks stores located in major metropolitan areas and tourist destinations nationwide.

STARBUCKS 2011 2010 2009 2008 2007 COFFEE NZ$m NZ$m NZ$m NZ$m NZ$m Sales 29.3 30.5 33.0 33.0 31.3 Same store sales growth 0.8% -2.9% 3.6% 4.0% 3.2% EBITDA* 4.1 3.2 2.9 3.9 3.6 EBITDA margin** 14.0% 10.5% 8.8% 11.8% 11.5% Contribution to group EBITDA 7% 6% 7% 9% 9% Company-owned stores 37 41 42 44 47 *Earnings before interest tax depreciation and amortisation before general & administrative expenses ** EBITDA (before general & administration expenses)/sales www.starbuckscoffee.co.nz

RESTAURANT BRANDS » Company Fact Sheet *all data correct as at 31 May 2011 2 GOVERNANCE BOARD OF DIRECTORS EXECUTIVE TEAM Eduard (Ted) Koert van Arkel: Non-Executive Independent Chairman Russel Creedy: Chief Executive Officer Danny Diab: Non-Executive Director Grant Ellis: Chief Financial Officer & Company Secretary David A Pilkington: Non-Executive Independent Director Brent Kitto: KFC General Manager Sue H Suckling: Non-Executive Independent Director Arif Khan: Pizza Hut General Manager Nick Thomson: Acting General Manager, Starbucks Coffee

COMPANY HISTORY: RESTAURANT BRANDS NEW ZEALAND Restaurant Brands New Zealand was formed to acquire the New Zealand restaurant and takeaway operations of KFC and Pizza Hut, which had been operating in the country since the early 70s. It was listed on the New Zealand stock exchange in 1997. Restaurant Brands’ Pizza Hut business was supplemented with the acquisition of 53-store Eagle Boys pizza chain in May 2000, and by a further 51 Pizza Hut stores in Victoria, in March 2002. These Australian stores were divested by 2008 after they failed to meet performance thresholds. Restaurant Brands brought Starbucks Coffee to New Zealand in 1998, after securing a licensing arrangement with Starbucks Coffee International.

RESEARCH COVERAGE:

Company Analyst Telephone Email First NZ Capital Ltd. Sandra Urlich +64 9 496 5363 [email protected] Forsyth Barr Ltd. Guy Hallwright +64 9 368 0006 [email protected] Macquarie Securities NZ Ltd. Warren Doak +64 9 357 6931 [email protected]

RESTAURANT BRANDS » Company Fact Sheet *all data correct as at 31 May 2011 3