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Restaurant Brands Asia Limited Q2 FY27 Investor Presentation October 29, 2026
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Disclaimer Investor Presentation - Q2 FY27 Certain statements made in this presentation relating to the Company’s objectives, projections, outlook, expectations, estimates, among others may constitute ‘forward-looking statements’ within the meaning of applicable laws and regulations. Actual results may differ from such expectations, projections etc., whether express or implied. These forward-looking statements are based on various assumptions, expectations and other factors which are not limited to, risk and uncertainties regarding fluctuations in earnings, competitive intensity, pricing environment in the market, economic conditions affecting demand and supply, change in input costs, ability to maintain and manage key customer relationships and supply chain sources, new or changed priorities of trade, significant changes in political stability in India and globally, government regulations and taxation, climatic conditions, natural calamity, commodity price fluctuations, currency rate fluctuations, litigation among others over which the Company does not have any direct control. These factors may affect our ability to successfully implement our business strategy. The company cannot, therefore, guarantee that the ‘forward-looking’ statements made herein shall be realized. The Company, may alter, amend, modify or make necessary corrective changes in any manner to any such forward looking statement contained herein or make written or oral forward-looking statements as may be required from time to time on the basis of subsequent developments and events.
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BUSINESS PERFORMANCE UPDATE
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4 Portfolio Mix - Revenue Split & Restaurant Count 607 India Restaurants 144 Cities 83% 15%2% Revenue Mix (Q2 FY27) Burger King (India) Burger King (Indonesia) Popeyes (Indonesia) 137 Indonesia Restaurants 25 Restaurants
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Q2 FY27 Consolidated Highlights Q1 FY27 Store Count# Consolidated Revenue (INR Mn) Consolidated Restaurant EBITDA* (INR Mn) Consolidated Co. EBITDA* (INR Mn) *EBITDA is Pre-IND AS 116; #as at period end 5 113 432 Q2 FY26 Q2 FY27 +281% 530 918 Q2 FY26 Q2 FY27 +73% 694 769 Q2 FY26 Q2 FY27 +75 7,034 8,448 Q2 FY26 Q2 FY27 +20%
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STRATEGIC PILLARS
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India 7 Build 80-100 stores annually through cluster led strategy Supply chain efficiencies & improve operating margins Profitability Rollout of new broilers & energy efficient equipment offset inflation Value led offerings for customer acquisition Value 14 continuous quarters of positive Dine-in Traffic Growth Drive customer engagement through in-store digital assets Digital App Frequency up by 7% YoY in Q2 FY27 Adding a New Customer Segment Families Launching Kids Meal Platform to drive incremental revenues Flavour Innovations to build Premium Menu Innovation Incremental Guest Occasions, Build APC
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Indonesia 8 Margin improvement Profitability Improving delivery margin, utility cost efficiencies and procurement optimization National Rollout of Super Hemat (Value deals) in Q3 Value Growth in Dine-in SOKs across all restaurants Digital Improvements in user journey Investments in HVAC, lighting, broilers & kitchen equipment Asset Upgrade Elevate guest experience Expanded Boss LTO platform Innovation Lead with Taste, Quality & Variety
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FINANCIAL PERFORMANCE
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Burger King India – Q2 FY27 Highlights 607 Store Count# +74 YoY 14.0% SSSG INR 131K ADS INR 7,056 Mn Revenue from Operations +24.1% YoY 70.4% Gross Margin +2.1% YoY INR 910 Mn Restaurant EBITDA* +53.7% YoY INR 551 Mn Co EBITDA* +94.1% YoY #Store Count as at period end; *EBITDA is Pre-IND AS 116 10
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533 577 581 590 607 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Store Count 119 117 111 131 131 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 ADS (INR '000) 5,687 5,773 5,735 6,829 7,056 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Revenue (INR Mn) Burger King India – Q2 FY27 *EBITDA is Pre-IND AS 116 and excludes impact of new labor code in Q3 FY26 6.3%4.5% 12.6% 14.0% SSSG: 44%44% 44% 44% 46% Delivery Mix: 68.3% 69.9% 70.2% 70.8% 70.4% Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Gross Profit % 592 749 759 900 910 10.4% 13.0% 13.2% 13.2% 12.9% Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Rest. EBITDA* (INR Mn) 284 406 409 527 551 5.0% 7.0% 7.1% 7.7% 7.8% Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Co. EBITDA* (INR Mn) 2.8% 11
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100 118 117 114 116 131 FY22 FY23 FY24 FY25 FY26 H1 FY27 ADS (INR ‘000) Burger King India – 5 Years Journey *EBITDA is Pre-IND AS 116 and excludes impact of new labor code in FY26 SSSG: 315 391 455 513 581 607 FY22 FY23 FY24 FY25 FY26 H1 FY27 Store Count 9,437 14,397 17,601 19,678 22,717 13,885 FY22 FY23 FY24 FY25 FY26 H1 FY27 Revenue (INR Mn) Delivery Mix 65.8% 66.4% 67.0% 67.7% 69.0% 70.6% FY22 FY23 FY24 FY25 FY26 H1 FY27 Gross Profit % 491 1,191 1,706 2,068 2,636 1,810 5.2% 8.3% 9.7% 10.5% 11.6% 13.0% FY22 FY23 FY24 FY25 FY26 H1 FY27 Rest. EBITDA* (INR Mn) -135 361 753 994 1,324 1,077 -1.4% 2.5% 4.3% 5.1% 5.8% 7.8% FY22 FY23 FY24 FY25 FY26 H1 FY27 Co. EBITDA* (INR Mn) 2.9% 4.0%46.5% 23.1% 1.1% 13.3% 43% 43%53% 42% 43% 45% 12
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Indonesia (Consolidated) - Q2 FY27 Highlights 162 Store Count# +1 YoY 96K ADS INR 1,393 Mn Revenue from Operations +3.3% YoY 57.1% Gross Margin + 0.2% YoY INR 8 Mn Restaurant EBITDA* + INR 71 Mn YoY INR (119) Mn Co EBITDA* + INR 51 Mn YoY *EBITDA is Pre-IND AS 116 ; #Store Count as at period end 13
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99 97 100 101 FY24 FY25 FY26 H1 FY27 ADS (INR '000)# 5,991 5,209 4,953 2,485 FY24 FY25 FY26 H1 FY27 Revenue (INR Mn) -32 -54 44 108 FY24 FY25 FY26 H1 FY27 Rest. EBITDA* (INR Mn) -18 -24 51 64 44 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Rest. EBITDA* (INR Mn) 1,212 1,223 1,165 1,240 1,245 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Revenue (INR Mn) 97 99 96 102 101 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 ADS (INR '000) # Burger King Indonesia 4.4%-1.5% -1.9% 5.2% 3.5% Margin % 14 Margin % 0.9%-0.5% -1.0% 4.3% Quarterly Yearly *EBITDA is Pre-IND AS 116; #ADS converted at Constant Currency rate [Exchange Rate (INR to IDR): Q2 FY27: 186]
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136 82 69 66 FY24 FY25 FY26 H1 FY27 ADS (INR '000)# 779 748 630 305 FY24 FY25 FY26 H1 FY27 Revenue (INR Mn) 35 -82 -134 -67 FY24 FY25 FY26 H1 FY27 Rest. EBITDA* (INR Mn) 146 162 159 157 148 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Revenue (INR Mn) -45 -33 -24 -31 -36 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Rest. EBITDA* (INR Mn) 63 70 71 69 64 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 ADS (INR '000)# Popeyes Indonesia -14.9%-30.9% -20.3% -19.9% -24.3% Margin % 15 Margin % -21.3%4.5% -11% -22% *EBITDA is Pre-IND AS 116; #ADS converted at Constant Currency rate [Exchange Rate (INR to IDR): Q2 FY27: 186] Quarterly Yearly
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MARKETING INITIATIVES - INDIA
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Sustained Focus on Strengthening Value Leadership 17 2 for 79/99 moved to App to stay competitive Crazy App Deals to increase frequency of BK App 14th continuous quarter of positive Dine in Traffic Growth App Frequency is up by 7% Q2 FY’27 vs. Q2 FY’26
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FY’26 Q1 FY’27 Q2 FY’27 Innovation with Limited Time Offerings Authentic flavor profile Extended Korean range to Whoppers Building platform with global favorites 18
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Building Awareness with “Trust in Taste” 20
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Launch of 600th Burger King Store 21
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Q2 FY27 FINANCIAL SUMMARY
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Consolidated - Operating Performance Q1 FY27 Exchange Rate (INR to IDR): Q2 FY26: 187, Q2 FY27: 186 23 Particulars (INR Million) Q2 FY26 % Q2 FY27 % % Change Revenue from operations 7,034 100.0% 8,448 100.0% 20.1% Cost of materials consumed 2,384 33.9% 2,689 31.8% Gross Profit 4,651 66.1% 5,760 68.2% 23.8% Employee Related Expenses 914 13.0% 1,017 12.0% Occupancy and Other Expenses 2,558 36.4% 3,109 36.8% Restaurant EBITDA (Post Ind AS 116) 1,179 16.8% 1,634 19.3% 38.6% Corporate General & Administration expenses* 416 5.9% 486 5.8% Reported Company EBITDA (Post Ind AS 116)* 763 10.8% 1,148 13.6% 50.5% Profit After Tax (As Reported) -633 -9.0% -238 -2.8% 62.4% Restaurant EBITDA (Pre Ind AS 116) 530 7.5% 918 10.9% 73.3% Company EBITDA (Pre Ind AS 116)* 113 1.6% 432 5.1% 280.7% *excludes MTM loss on financial instruments, unrealized forex gain (India), unrealized forex loss (Indonesia) , PPE write-off and sundry balance write-off
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India - Operating Performance Q1 FY27 24 Particulars (INR Million) Q2 FY26 % Q2 FY27 % % Change Revenue from operations 5,687 100.0% 7,056 100.0% 24.1% Cost of materials consumed 1,802 31.7% 2,092 29.6% Gross Profit 3,884 68.3% 4,964 70.4% 27.8% Employee Related Expenses 670 11.8% 783 11.1% Occupancy and Other Expenses 2,092 36.8% 2,683 38.0% Restaurant EBITDA (Post Ind AS 116) 1,122 19.7% 1,498 21.2% 33.5% Corporate General & Administration expenses* 309 5.4% 360 5.1% Reported Company EBITDA (Post Ind AS 116)* 813 14.3% 1,139 16.1% 40.0% Profit After Tax (As Reported) -202 -3.6% 156 2.2% 177.1% Restaurant EBITDA (Pre Ind AS 116) 592 10.4% 910 12.9% 53.7% Company EBITDA (Pre Ind AS 116)* 284 5.0% 551 7.8% 94.1% *excludes MTM loss on financial instruments, unrealized forex gain, PPE write-off and sundry balance write-off
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Indonesia - Operating Performance Q1 FY27 25 Particulars (INR Million) Q2 FY26 % Q2 FY27 % % Change Revenue from operations 1,348 100.0% 1,393 100.0% 3.3% Cost of materials consumed 581 43.1% 597 42.9% Gross Profit 767 56.9% 796 57.1% 3.8% Employee Related Expenses 244 18.1% 234 16.8% Occupancy and Other Expenses 466 34.6% 426 30.6% Restaurant EBITDA (Post Ind AS 116) 57 4.2% 136 9.7% 138.0% Corporate General & Administration expenses* 108 8.0% 127 9.1% Reported Company EBITDA (Post Ind AS 116)* -51 -3.8% 9 0.6% 117.8% Profit After Tax (As Reported) -423 -31.4% -376 -27.0% 11.0% Restaurant EBITDA (Pre Ind AS 116) -63 -4.7% 8 0.5% 112.1% Company EBITDA (Pre Ind AS 116)* -170 -12.6% -119 -8.5% 30.1% Exchange Rate (INR to IDR): Q2 FY26: 187, Q2 FY27: 186 *excludes unrealized forex loss
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Thank You Restaurant Brands Asia Limited CIN: L55204MH2013FLC249986 For further information, please contact: Mr. Gaurav S. Ajjan, CFA Head - Corporate Development and Investor Relations gaurav.ajjan@rbrandsasia.com Website: www.rbrandsasia.com