Restaurant Brands authorzies share repurchase of up to $1B

Restaurant Brands has approved a share repurchase authorization pursuant to which RBI may purchase up to $1.0B of its common shares over the next 2 years through September 30, 2025. This approval follows the expiration of RBI’s prior 2 year authorization to repurchase up to the same $1B amount of its common shares. RBI intends to commence a normal course issuer bid permitting the purchase for cancellation of common shares of up to 10% of its public float. Under its last NCIB which commenced on August 17, 2022 and expired on August 16, 2023, RBI received approval from the TSX to repurchase up to 30,254,374 common shares, which represented 10% of its public float as of August 17, 2022. Despite this approval, RBI did not repurchase any common shares under the 2022 NCIB.