Notification of Allotment of Sercurities

The Restaurant Brands New Zealand Limited has issued: - 252,000 Ordinary Shares to Russel Creedy; and - 126,000 Ordinary Shares to Grant Ellis, upon the vesting criteria for the Performance Rights granted to the above employees being satisfied. Terms or details of issue The issued Ordinary Shares are of the same class as, and rank equally with, the existing fully paid ordinary shares in the Company. Russel Creedy and Grant Ellis have each agreed not to sell, transfer or dispose of the Ordinary Shares prior to completion of the takeover offer, except to accept Global Valar S.L.'s takeover offer. If Global Valar S.L.'s takeover offer is not completed or if Russel Creedy or Grant Ellis cease to be employed by the Company prior to completion of the takeover offer, the relevant executive must: o transfer the Ordinary Shares back to the Company for no consideration; and o if the executive has sold Ordinary Shares under the takeover offer, pay the gross proceeds of sale to the Company. Each of Russel Creedy and Grant Ellis have also agreed not to sell, transfer or dispose of any of the Ordinary Shares which they continue to hold after completion of the takeover offer ("Remaining Shares") for 10 trading days after such completion ("Post Offer Period"). If Russel Creedy or Grant Ellis ceases to be employed by the Company before the end of the Post Offer Period, the relevant executive must transfer his Remaining Shares to the Company for no consideration. For further information, please contact: Grant Ellis Company Secretary 09 525 8700 End CA:00327835 For:RBD Type:SECISSUE Time:2018-12-04 10:41:29