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1 Q3 & 9M 26 RESULTS EARNINGS PRESENTATION October 2026 BUILDING COMMUNITIES AROUND THE JOY OF FOOD
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2 01 Business Updates 02 Financial Review 04 The Way Forward 06 Appendix 05 Concluding Remarks and Q&A AGENDA & PRESENTERS 03 Digital Update HARSH BANSAL CHIEF OPERATING OFFICER – KFC & PIZZAHUT PUJEET PAREKH HEAD OF INVESTOR RELATIONS AMARPAL SANDHU CHIEF EXECUTIVE OFFICER RAHUL MATHUR CHIEF FINANCIAL OFFICER
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3 Disclaimer Cautionary Statement Regarding Forward Looking Information This presentation includes statements that are, or may be deemed to be, "forward looking statements". These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "anticipates", "expects", "intends", "plans", "may", "will" or "should" or, in each case, their negative or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. They appear in a number of places and include,BbutBareBnotBlimitedBto,BstatementsBregardingBtheBQompany’sB intentions, beliefs or current expectations concerning, amongst other things, results of operations, financial condition, liquidity, prospects, growth and strategies. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Forward looking statements are not guarantees of future performance and the actual results of operations, financial condition and liquidity, and the development of the industry in which the Company operates, may differ materially from those made in or suggested by the forward-looking statements set out in this presentation. Past performance of the Company cannot be relied on as a guide to future performance. The forward-looking statements contained in this document speak only as at the date of this document. The Company expressly disclaims any obligation or undertaking to update these forward-looking statements contained in the document to reflect any change in their expectations or any change in events, conditions or circumstances on which such statements are based unless required to do so by applicable law. No statement in this document is intended to be a profit forecast. As a result, you are cautioned not to place any undue reliance on such forward-looking statements. In addition, even if the results of operations, financial condition and liquidity of the Company, and the development of the industry in which the Company operates, are consistent with the forward-looking statements set out in this document, those results or developments may not be indicative of results or developments in subsequent periods. Images used in this presentation are for illustrative purposes only and may not accurately represent the respective brand identities. The payment of dividends by the Company is subject to consideration by the Board of Directors of the cash management requirements of the Company. In addition, the Company expects that when deciding on dividend distribution, the Board of Directors will also consider market conditions, the then current operating environment in the markets in which the Company operates, and theBoutlookBforBtheBQompany’sBbusiness. 3
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4 BUSINESS UPDATES
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5 Q3 26 brand initiatives Value led innovation amplified by targeted campaigns to drive transaction growth
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6 Building new platforms for growth Taco Bell Diversifying brand portfolio Malak Al Tawouk Scaling the Arabic category • Adds Mexican-inspiredBQS%BtoBCmericana’sB brand portfolio • Secured exclusive development rights to develop Taco Bell in UAE • Planned UAE launch followed by expansion across other GCC markets
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7 t Community Development 2316th Pizza Hut POD store opened in UAE in partnership with Sharjah City for Humanitarian Services Advancing inclusive employment for People of Determination Living our commitment to build communities around the joy of food 16 Stores 5 Stores 1 Store 1 Store
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8 Source: Company information RESTAURANT PORTFOLIO 2,769 stores +32 1 +101 REVENUES $712.3m 14.4% increase (vs. Q3 25) 8.6% LFL increase (vs. Q3 25) EBITDA $173.9m 24.8% increase (vs. Q3 25) NET PROFIT $70.0m 63.0% increase (vs. Q3 25) GROSS CAPEX2 $27.6m 3.9% of revenue Q3 26: LFL growth accelerates to 8.6%, and coupled with disciplined cost management drives net profit increase of 63% 1. Includes 3 stores from consolidating MAT KSA 2. Includes consideration paid to acquire the subsidiary MAT in KSA EBITDA MARGIN 24.4% 204 bps increase (vs. Q3 25) NET PROFIT MARGIN 9.8% 293 bps increase (vs. Q3 25)
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9 Source: Company information 1. Includes 7 stores from consolidating MAT UAE and 3 stores from consolidating MAT KSA, LTM refers to Last Twelve months period 2. Includes consideration paid to acquire the subsidiary MAT in UAE and KSA RESTAURANT PORTFOLIO 2,769 stores +167 1 +112 1 REVENUES $2,076.9m 12.9% increase (vs. 9M 25) 7.0% LFL increase (vs. 9M 25) 9M 26: Record 9M revenue and profitability driven by 7% LFL growth, continued network expansion and cost leverage GROSS CAPEX2 $94.9m 4.6% of revenue EBITDA $522.1m 26.0% increase (vs. 9M 25) NET PROFIT $217.2m 60.4% increase (vs. 9M 25) EBITDA MARGIN 25.1% 262 bps increase (vs. 9M 25) NET PROFIT MARGIN 10.5% 310 bps increase (vs. 9M 25)
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10 167 gross openings and 112 net additions over last twelve months. On track for 120-130 net additions in FY 2026 Source: Company information Restaurant portfolio evolution (1st October 25 – 30th September 26) No. of restaurants 2,657 167 (55) 2,769 126 31 10 30-Sep-25 Gross Openings Closures 30-Sep-26 Power Brands Growth/Niche Brands MAT Acquisition (15) (40) +112 1. Feasibility Study Approved - Restaurant sites approved by leadership for signing the lease and start construction work 55 10 101 31 26 9M 26 Gross Opening Q4 26 E Closures 2026 guiance Restaurant pipeline for 2026E 20 120 -130 net Additions MAT Acquisition Under Construction Sites Secured FS Approved1 Net New Stores 65 158
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FINANCIAL REVIEW
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12 9M Revenue growth of +12.9%, supported by strong LFL growth of +7.0% and network expansion Channel mix4 Source: Company information 1. Revenue from new stores for the months without comparable trading in the prior-year period. Revenue for months traded in both periods is included in LFL. 2. FX impact mainly due to Kazakhstan 3. Others include Lebanon hyperinflation impact, rentals and logistics 4. Sum might not add up to 100% due to rounding 1,840 114 128 7 -12 2,077 9M 25 NSO Growth¹ LFL Growth FX Impact² Closures & Others³ 9M 26 Revenue bridge (9M 25 to 9M 26), $m Revenue mix4 9M 25 9M 26 Power Brands Growth/Niche Brands Other Brands <1% 6% 94% <1% 6% 93% % of stable pegged currency 83% 82% +7.0% 13% 16% 14% 8% 47% 1% 10% 13% 17% 8% 52% 1% Dine-in Takeaway Kiosks Drive thru Home Delivery Others 9M 25 9M 26 In-store 9M 25 52% +12.9% 9M 26 47%
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13 Q3 revenue grew 14.4%, driven by 8.6% LfL growth and broad-based gains across all Power Brands and key markets Source: Company information 1. Same store sales growth in Q3 2026 vs. Q3 2025 2. Total Sales Growth in Q3 2026 vs. Q3 2025 Revenue by Power Brands (Q3 25 to Q3 26), $m Total 15.8% 22 25 Q3 25 Q3 26 623 712 Q3 25 Q3 26 82 88 Q3 25 Q3 26 109 122 Q3 25 Q3 26 368 426 Q3 25 Q3 26 8.6% 14.4%7.2% 11.0%6.6% 7.6%6.2% 12.1% Q3 25 Q3 26 Revenue for major countries (Q3 25 to Q3 26), $m 203 223 +10.0% 155 175 +12.8% 84 100 +18.7% 49 56 +13.5% LfL Growth1 YoY Growth2 10.2% UAE KSA KUWAIT EGYPT
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14 9M Revenue growth +12.9% driven by broad based growth across all Power Brands and all key markets Source: Company information 1. Same store sales growth in 9M 2026 vs. 9M 2025 2. Total Sales Growth in 9M 2026 vs. 9M 2025 Revenue by Power Brands (9M 25 to 9M 26), $m Total 8.0% 13.7% 67 74 9M 25 9M 26 1,840 2,077 9M 25 9M 26 242 255 9M 25 9M 26 321 364 9M 25 9M 26 1,094 1,244 9M 25 9M 26 7.0% 12.9%6.3% 10.5%3.3% 5.5%7.2% 13.3% 9M 25 9M 26 Revenue for major countries (9M 25 to 9M 26), $m 612 672 +9.9% 467 510 +9.2% 257 300 +16.6% 127 151 +19.3% LfL Growth1 YoY Growth2 UAE KSA KUWAIT EGYPT
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15 182 214 50 70 90 110 130 150 170 190 210 230 Q3 25 Q3 26 Q3 26: Strong revenue performance and cost discipline expand EBITDA margin to 24.4% and Net profit margin to 9.8% 4 Wall EBITDA (Q3 25 to Q3 26), $m EBITDA (Q3 25 to Q3 26), $m Net Profit (Q3 25 to Q3 26), $m Source: Company information +17.4% Margin (% of revenues) YoY growth 139 174 - 20 40 60 80 100 120 140 160 180 200 Q3 25 Q3 26 43 70 Q3 25 Q3 26 +24.8% 29.2% 30.0% 22.4% 24.4% 6.9% 9.8% +63.0%
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16 531 646 50 150 250 350 450 550 650 750 9M 25 9M 26 9M 2026: Strong earnings growth with margin expansion across all profitability metrics 4 Wall EBITDA (9M 25 to 9M 26), $m EBITDA (9M 25 to 9M 26), $m Net Profit (9M 25 to 9M 26), $m Source: Company information +21.7% Margin (% of revenues) YoY growth 414 522 - 100 200 300 400 500 600 9M 25 9M 26 135 217 9M 25 9M 26 +26.0% 28.9% 31.1% 22.5% 25.1% 7.4% 10.5% +60.4%
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17 Cost of inventory in 9M26 130bps lower vs prior year as cost increases were more than offset by pricing Cost of inventory1 evolution 29.2% 29.0% 27.7% 29.2% 29.2% 28.5% 27.1% 27.3% 27.5% 28.2% 9M 24 9M 25 9M 26 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Source: Company information 1. Refers to cost of materials, filing and packing materials. Calculated as % of revenue 2. Change % calculated as cost of inventory % in current period vs. same period last year. Minor differences in change% are attributable to rounding. Change2 % Q1 26 vs. Q1 25 (1.8%) (1.8%) Q2 26 vs. Q2 25 (0.3%) Q3 26 vs. Q3 25 (1.3%) 9M 26 vs. 9M 25 Change2 %
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18 Strong working capital discipline supports cash generation, while capex remains focused on growth Source: Company information Net Working Capital (NWC) $m 1. NWC % of revenues is defined as NWC as at the end of each period divided by the revenues of the last twelve months 2. Figures may not add up to totals due to rounding Gross Capex $m 68 76 11 19 9M 25 9M 26 4.6%4.2% (254) (9.3%) (248) (9.9%) 153 155 145 125 128 143 (478) (531) (543) 30-Sep-25 31-Dec-25 30-Sep-26 Trade Payables & others Receivables Inventory NWC NWC % of revenues (199) (8.2%) Gross capex (% of revenues) PHT Oman Acquisition MAT Acquisition Gross Capex Excl. M&A1 78 95
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DIGITAL UPDATE
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20 A scaled, fully owned digital platform.. 66% of transactions digital vs 48% in 2024 1,300+ restaurants with kiosks vs 500+ in Sep 24 Self-Ordering Kiosks Source: Company information Loyalty Program 19m+ loyalty trx in 9M 26; +47% YoY Customer Data Platform ✓ Shorter queues and better crew productivity ✓ Higher AOVs via personalized upsells ✓ One customer view across brands & channels ✓ Driving personalized experience across assets ✓ Live across 5 key brands ✓ Enablement on Kiosks in progress
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21 In-house last-mile fleet: faster, agile, lower-cost delivery Scale 38m+ Orders delivered in 9M 2026 +14% increase YoY Eco-friendly 1m+ Orders Zero emission deliveries expected in 2026 +50% increase YoY Malak Al Tawouk Now Fulfilled by Americana Fleet Source: Company information Speed of Service : 83% deliveries in <30 minutes
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THE WAY FORWARD
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23 2026 Guidance Source: Company information Cost Efficiencies Revenue Growth ✓ Continue delivering strong mid-single-digit LfL growth ✓ Win brand love and trust through local relevance and strong campaign execution Category Expansion ✓ 120 – 130 net new stores in 2026; including new brands ✓ NSOs focused on high performing BMUs1 and scale-up of new brands NSO Guidance Profitability Outlook ✓ Gross profit margin, EBITDA margin and Net profit margin expansion vs. 2025 ✓ Net profit margin expansion guidance raised to 150-175 bps vs. 2025 (vs 100-150 bps previously) ✓ Evolving to a loyalty-led ecosystem and making loyalty a core pillar of customer engagement ✓ Drive customer engagement by leveraging Cmericana’sBproprietaryBcustomerBstackBB(QWP,B CRM and personalization) Digital Leadership ✓ Build on the successful acquisition of Malak Al Tawouk in the UAE and KSA ✓ Launch MAT in Kuwait ✓ tdentifyingBlocationsBforBTacoBPell’sBmarketB entry and establishing the supply chain infrastructure ✓ Drive inventory cost savings with menu optimization and supplier negotiations ✓ Streamline G&A leveraging efficiencies of scale and AI initiatives 231. Brand Market Units
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CONCLUDING REMARKS AND Q&A
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Investor.Relations@americanarestaurants.com THANK YOU Americana Restaurants IR App
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APPENDIX
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27 Portfolio evolution – LTM 30th September 2026 Source: Company information 1. Includes Additional 7 stores from MAT UAE and 3 stores from MAT KSA Morocco 56 Egypt 447 KSA 771 Oman 96 Lebanon 17 Jordan 55 Iraq 44 Kuwait 282 UAE 671 Bahrain 72 Qatar 110 Kazakhstan 148 27 No. of restaurants – by country and brands Openings & closures – LTM 30th September 20261 No. of restaurants – by brand/category 55 15 30 26 41 10 14 5 11 15 KFC Pizza Hut Hardee's Krispy Kreme Growth/Niche Openings Closures KSA UAE Kuwait Egypt Others Total 317 238 81 170 340 1,146 152 106 64 40 102 464 114 165 – 94 78 451 165 96 40 44 53 398 Growth/Niche Brands 23 66 96 97 25 307 Other Brands – – 1 2 – 3 Total 771 671 282 447 598 2,769
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28 Free cash flows and movement in cash & cash equivalents Source: Company information Free Cash Flow (FCF) 1. Net Cash from Investing activities is without (increase)/decrease in short term fixed deposits and Increase of Other financial assets $m 9M 25 9M 26 EBITDA 414 522 Hyper Inflation Effect <1 <1 Net Capex (77) (94) Change in Non-current Portion of Trade Payables (12) 12 Tax (26) (37) Change in NWC 4 6 Change in Non-current Portion of Trade Receivables (1) 2 Lease Payments (175) (186) Total 128 225 Conversion % 54% 67% Movement in Cash & Cash Equivalents $m (64)12 378 518 (63) (93) (303) (489) 9M 25 9M 26 Net Cash From Financing Activities Net Cash From Investing activities Net Cash From Operating Activities Net Cash Change
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29 Post IFRS-16 basis EBITDA to net profit reconciliation – Q3 26 $k Q3 25 Q3 26 Net profit attributable to shareholders of the company 42,908 69,952 Minority (Non-Controlling Interest) 403 423 Income tax (including Pillar II), and Zakat 9,285 13,354 Finance cost (net) excluding finance costs on lease liabilities (2,982) (3,908) Depreciation and amortization (excluding depreciation related to RoU assets)1 25,595 28,641 Depreciation on RoU assets 51,135 54,103 Finance costs on lease liabilities 10,220 11,289 Impairment charges 2,717 15 EBITDA 139,281 173,869 Source: Company information 1. Calculated as: Charge for the year (PPE) plus amortization of intangible assets, and depreciation of investment properties
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30 Post IFRS-16 basis EBITDA to net profit reconciliation – 9M 26 $k 9M 25 9M 26 Net profit attributable to shareholders of the company 135,390 217,173 Minority (Non-Controlling Interest) (537) 185 Income tax (including Pillar II), and Zakat 25,608 37,455 Finance cost (net) excluding finance costs on lease liabilities (9,126) (11,911) Depreciation and amortization (excluding depreciation related to RoU assets)1 75,326 84,433 Depreciation on RoU assets 151,354 159,529 Finance costs on lease liabilities 29,178 32,328 Impairment charges 7,004 2,891 EBITDA 414,197 522,083 Source: Company information 1. Calculated as: Charge for the year (PPE) plus amortization of intangible assets, and depreciation of investment properties
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31 Key Definitions EBITDA: EBITDA is defined as Net profit for the year plus finance cost (net), plus income tax and zakat, plus depreciation and amortisation expenses, impairment charges 4 –wall EBITDA: 4-Wall EBITDA is defined as Revenue minus cost of revenues, minus selling and distribution (S&D) expenses (both excluding depreciation and amortization). Free cash flow: Free Cash Flow (FCF) defined as EBITDA (post adding back hyperinflation adjustment) less capital expenditure, income tax and zakat, change in net working capital, change in non- current portion of trade payables and Trade Receivables, and lease payments (including both principal and interest on lease liabilities) Free cash flow conversion: Free Cash Flow (FCF) over EBITDA less lease payments (including both principal and interest on lease liabilities) Avg. payback: The payback investment period is calculated by dividing the initial investment by the annual cumulative cash inflow generated over 10 years. No discount rate have been assumed for all markets except Egypt. Equation is to compare the initial investment capex against the forecasted annual net cash flow over the period of 10 years Gross capex: Gross capex defined as purchase of property and equipment plus purchase of intangible assets, acquisition of subsidiaries, payments for key money and includes the initial franchisor fees Net capex: Defined as Gross capex less proceeds from sale of property and equipment. Growth / Niche brands: Refers to Baskin Robbins, TGIF, Chicken Tikka, Wimpy, CostaQoffee,BPeet’sBQoffee,BQarpoBandBMalakBClBTawouk Tax: Income tax and zakat LfL: Like for like revenues growth denotes the percentage increase/decrease in the revenues for those AMR restaurants which have generated monthly revenues over the 12-month period in a given financial year and seasonal stores, when applicable Net NSO: Net new restaurant openings are defined as gross openings less closures Net profit: Refers to Net Profit attributable to the shareholders of the Company NSO: Refers to New Store Openings for the period Power brands: %efersBtoB/kQ,Bqardee’s,BPizzaBqut,BandB/rispyB/reme Others (revenue): Includes revenue from Fish Market and Grand Cafe, as well as revenue from non-material items Other channel revenues: Includes Car Hops, Catering, Sales Office/Food Supply and other revenues Other countries: Includes Morocco, Qatar, Iraq, Bahrain, Kazakhstan, Jordan, Lebanon and Oman Stable pegged currencies: Refers to revenues generated in KSA, UAE, Kuwait, Qatar, Bahrain, Oman and Jordan MAT: Malak Al Tawouk NWC: Current assets less current liabilities Current Assets: Inventories and Trade Receivables Current Liabilities: Trade & other payables, Due to related parties, Provisions for legal, tax & other claims, and Income tax, Zakat & other deductions payable Source: Company information 31