UPDATE: ACQUISITION OF PACIFIC ISLAND RESTAURANTS, INC.

6 January 2017 UPDATE: ACQUISITION OF PACIFIC ISLAND RESTAURANTS, INC. On 26 October 2016, Restaurant Brands New Zealand Limited (NZX: RBD) announced that it had entered into a conditional agreement to purchase 100% of the shares in Pacific Island Restaurants, Inc. ("PIR"). PIR is the sole Taco Bell and Pizza Hut franchisee in Hawaii, Guam and Saipan, with a network of 37 Taco Bell stores and 45 Pizza Hut stores. Restaurant Brands advises that due to the delay caused by the Christmas / New Year period, the franchisor's approval to the transaction from Yum! Brands, Inc. is expected to be received by the end of February. The market will be updated on the proposed settlement date once this approval has been obtained. -ENDS- For further information, please contact: Russel Creedy CEO Phone: (09) 525 8700 Grant Ellis CFO/Company Secretary Phone: (09) 525 8700 End CA:00295255 For:RBD Type:GENERAL Time:2017-01-06 14:57:54