EXHIBIT 99
rbimasterlogorgb.jpg
Restaurant Brands International Inc. Reports Third Quarter 2019 Results
RBI announces system-wide sales growth of nearly 9% and continued restaurant expansion around the world
BURGER KING® achieves its highest quarterly comparable sales growth since 2015
POPEYES® records one of its strongest comparable sales growth results in nearly two decades
RBI refinances existing $1,250 million 1st Lien Notes due 2022, generating significant interest savings

Toronto, Ontario – October 28, 2019 – Restaurant Brands International Inc. (TSX/NYSE: QSR, TSX: QSP) today reported financial results for the third quarter ended September 30, 2019.
Jose Cil, Chief Executive Officer of Restaurant Brands International Inc. ("RBI") commented, “During the third quarter, we grew system-wide sales nearly 9% through a combination of strong global comparable sales growth and restaurant expansion. At Burger King, we continue to see exciting growth around the world, with our system-wide sales increasing approximately 15% internationally for the quarter and the successful launch of our Impossible Whopper driving 5% comparable sales growth in the US, our strongest level since 2015. Popeyes had one of its best quarters in nearly two decades, achieving comparable sales growth of more than 10% in the US. At Tim Hortons, although we had a challenging quarter, we remain confident in the pillars of our Winning Together Plan and are excited about the long-term growth prospects of the Tims brand and business in Canada.”
Consolidated Operational Highlights
 
Three Months Ended September 30,
 
 
2019
 
 
2018
 
 
(Unaudited)
System-wide Sales Growth
 
 
 
 
 
    TH
 
(0.1
)%
 
 
2.8
%
    BK
 
10.7
 %
 
 
7.8
%
    PLK
 
15.6
 %
 
 
7.9
%
Consolidated
 
8.9
 %
 
 
6.7
%
System-wide Sales (in US$ millions)
 
 
 
 
 
    TH
$
1,774
 
$
1,793
    BK
$
6,010
 
$
5,544
    PLK
$
1,103
 
$
956
Consolidated
$
8,887
 
$
8,293
Net Restaurant Growth
 
 
 
 
 
    TH
 
1.7
 %
 
 
2.7
%
    BK
 
5.8
 %
 
 
6.1
%
    PLK
 
5.6
 %
 
 
7.6
%
Consolidated
 
5.0
 %
 
 
5.6
%
System Restaurant Count at Period End
 
 
 
 
 
    TH
 
4,887
 
 
4,805
    BK
 
18,232
 
 
17,239
    PLK
 
3,192
 
 
3,022
Consolidated
 
26,311
 
 
25,066
Comparable Sales
 
 
 
 
 
    TH
 
(1.4
)%
 
 
0.6
%
    BK
 
4.8
 %
 
 
1.0
%
    PLK
 
9.7
 %
 
 
0.5
%

Note: System-wide sales growth and comparable sales are calculated on a constant currency basis and include sales at franchise restaurants and company-owned restaurants. System-wide sales are driven by sales at franchise restaurants, as approximately 100% of current restaurants are franchised. We do not record franchise sales as revenues; however, our franchise revenues include royalties based on a percentage of franchise sales.

1


The following information was filed by Restaurant Brands International Limited Partnership (RSTRF) on Monday, October 28, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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