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Restaurant Brands International Limited Partnership (RSTRF) SEC Filing 10-Q Quarterly Report for the period ending Thursday, September 30, 2021

Restaurant Brands International Limited

CIK: 1618755 Ticker: RSTRF

EXHIBIT 99
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Restaurant Brands International Inc. Reports Third Quarter 2021 Results

Global system-wide sales grew 11% year-over-year and accelerated sequentially to +5% compared to 2019
Burger King international system-wide sales grew 25% year-over-year and +10% compared to 2019
Year-to-date unit growth and pipeline keep RBI on track to return to pre-pandemic levels in 2021 and accelerate in 2022
Returned over $425 million of capital to shareholders through dividends and share buybacks
Announced commitment to reduce greenhouse gas emissions 50% by 2030 and reach net zero emissions by 2050 or sooner

Toronto, Oct. 25, 2021 - Restaurant Brands International Inc. (TSX: QSR) (NYSE: QSR) (TSX: QSP) today reported financial results for the third quarter ended September 30, 2021.

José Cil, Chief Executive Officer of Restaurant Brands International Inc. (“RBI”) commented, “Our results this quarter reflect the value of having a diversified business model across three brands and in over 100 countries. Overall, we saw a continued acceleration in system-wide-sales growth relative to 2019, reflecting improvements in the Tim Hortons Canada business as well as strength across each of our brand’s international businesses. Our strong restaurant growth this year and exciting development pipeline keep us on track to return to pre-pandemic unit growth levels this year and well positioned to accelerate in 2022 as we continue on our path to 40,000 restaurants around the world. This quarter, we also took important steps to focus our attention on the most significant opportunities at Burger King U.S. to drive long-term, sustainable growth in the business.”

Cil continued, “Our highly efficient business model once again generated strong free cash flow, enabling us to continue investing in our business while also enhancing shareholder returns through both our dividend and recently expanded $1 billion share repurchase program. During the quarter, we returned over $425 million of capital to shareholders, including repurchasing just over $180 million of common stock, reflecting the confidence we have in our long-term outlook and the intrinsic value of our scalable business.”

Cil concluded, “Our big goal is to drive business growth without carbon growth. I’m so proud of the team’s work to set ambitious goals to reduce our carbon footprint in the world. We have exciting and important sustainability projects underway across the company, in green building standards, packaging, recycling, growing our charitable Foundations and doing the hard work with our suppliers and franchisees to improve the environmental footprint we have in the world.”




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The following information was filed by Restaurant Brands International Limited Partnership (RSTRF) on Monday, October 25, 2021 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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Restaurant Brands International Limited Partnership's Definitive Proxy Statement (Form DEF 14A) filed after their 2021 10-K Annual Report includes:

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Inside this 10-Q Quarterly Report

Cover
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Income (Loss)
Condensed Consolidated Statements Of Comprehensive Income (Loss) (Parenthetical)
Condensed Consolidated Statements Of Equity
Condensed Consolidated Statements Of Equity (Parenthetical)
Condensed Consolidated Statements Of Operations
Basis Of Presentation And Consolidation
Basis Of Presentation And Consolidation (Policies)
Basis Of Presentation And Consolidation - Additional Information (Details)
Commitments And Contingencies
Derivative Instruments
Derivative Instruments (Tables)
Derivative Instruments - Additional Information (Details)
Derivative Instruments - Quantitative Disclosures Of Derivative Instruments Including Estimated Fair Values (Details)
Derivative Instruments - Summary Of Financial Assets And Liabilities Measured At Fair Value On Recurring Basis (Details)
Description Of Business And Organization
Description Of Business And Organization - Additional Information (Details)
Earnings Per Unit
Earnings Per Unit (Tables)
Earnings Per Unit - Basic And Diluted Earnings Per Unit (Details)
Equity
Equity (Tables)
Equity - Additional Information (Details)
Equity - Summary Of Changes In The Components Of Accumulated Other Comprehensive Income (Loss) (Details)
Equity Method Investments
Equity Method Investments (Tables)
Equity Method Investments - Additional Information (Details)
Equity Method Investments - Summary Of Franchise And Property Revenues (Details)
Income Taxes
Income Taxes - Additional Information (Details)
Intangible Assets, Net And Goodwill
Intangible Assets, Net And Goodwill (Tables)
Intangible Assets, Net And Goodwill - Additional Information (Details)
Intangible Assets, Net And Goodwill - Schedule Of Intangible Assets, Net And Goodwill (Details)
Leases
Leases (Tables)
Leases - Property Revenues (Details)
Long-Term Debt
Long-Term Debt (Tables)
Long-Term Debt - First Lien (Details)
Long-Term Debt - Revolving Credit Facility - Additional Information (Details)
Long-Term Debt - Schedule Of Fair Value Measurement (Details)
Long-Term Debt - Schedule Of Interest Expense, Net (Details)
Long-Term Debt - Summary Of Long-Term Debt (Details)
Long-Term Debt - Th Facility - Additional Information (Details)
New Accounting Pronouncements
Other Accrued Liabilities And Other Liabilities, Net
Other Accrued Liabilities And Other Liabilities, Net (Tables)
Other Accrued Liabilities And Other Liabilities, Net - Schedule Of Other Accrued Liabilities (Current) And Other Liabilities (Noncurrent), Net (Details)
Other Operating Expenses (Income), Net
Other Operating Expenses (Income), Net (Tables)
Other Operating Expenses (Income), Net - Other Operating Expenses (Income), Net (Details)
Revenue Recognition
Revenue Recognition (Tables)
Revenue Recognition - Change In Contract Liabilities (Details)
Revenue Recognition - Disaggregation Of Total Revenues (Details)
Revenue Recognition - Estimated Revenue Recognition (Details)
Segment Reporting
Segment Reporting (Tables)
Segment Reporting - Additional Information (Details)
Segment Reporting - Reconciliation Of Segment Income To Net Income (Loss) (Details)
Segment Reporting - Revenues By Operating Segment And Country (Details)
Subsequent Events
Subsequent Events - Additional Information (Details)
Supplemental Financial Information
Supplemental Financial Information (Tables)
Supplemental Financial Information - Condensed Consolidating Balance Sheets (Details)
Supplemental Financial Information - Condensed Consolidating Statements Of Cash Flows (Details)
Supplemental Financial Information - Condensed Consolidating Statements Of Operations (Details)
Supplemental Financial Information - Narrative (Details)

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Restaurant Brands International Limited Partnership provided additional information to their SEC Filing as exhibits

Ticker: RSTRF
CIK: 1618755
Form Type: 10-Q Quarterly Report
Accession Number: 0001618755-21-000060
Submitted to the SEC: Mon Oct 25 2021 4:06:37 PM EST
Accepted by the SEC: Mon Oct 25 2021
Period: Thursday, September 30, 2021
Industry: Retail Eating Places

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