Restaurant Brands International Announces Renewal of Share Buyback Program

Miami, Sept. 11, 2026 – Restaurant Brands International Inc. (RBI), the parent company of well-known fast food chains like TIM HORTONS®, BURGER KING®, and POPEYES®, has officially announced the renewal of its normal course issuer bid (NCIB) for common shares.

The Toronto Stock Exchange (TSX) has accepted the company's filing, which grants RBI the authority to repurchase up to $1 billion of its own shares through September 30, 2027. This initiative is part of the company's strategy to enhance shareholder value through share buybacks, enabling RBI to purchase a maximum of 34,404,688 common shares during the upcoming year. This represents about 10% of its public float as of early September 2026.

The normal course issuer bid will commence on September 16, 2026, and continue until September 15, 2027. Shares will be bought back through various trading platforms including the TSX and the New York Stock Exchange (NYSE), in compliance with applicable regulations. Notably, RBI can also leverage private agreements and derivative-based programs, such as options or forward purchase agreements, to facilitate these stock repurchases.

During its previous buyback strategy, which started on September 16, 2025, RBI managed to buy back approximately 2,910,671 shares at an average price of around $74.97 per share before that initiative expires on September 15, 2026. RBI anticipates that the current market conditions may provide an attractive opportunity for purchasing its shares, thus optimizing resource allocation and driving long-term growth.

The company has strategically positioned itself as one of the largest quick-service restaurant operators globally, with an impressive $49 billion in annual system-wide sales and over 33,000 restaurants across more than 120 countries. Its board of directors firmly believes that the repurchase of shares is not only beneficial for the company’s valuation but also reflects a commitment to its shareholders.

RBI's share purchases will be funded by its cash reserves, and the company has established an automatic purchase plan that will allow it to systematically acquire shares, especially during periods when it is restricted from trading. This systematic approach will help in managing share repurchases efficiently and effectively. Moreover, all shares repurchased will be cancelled, effectively curtailing the total number of outstanding shares and potentially enhancing the earnings per share metric for the remaining stockholders.

The company’s framework, dubbed Restaurant Brands for Good, is aimed at improving outcomes in terms of sustainability across its food products and community outreach. As RBI strives to strike a balance between maintaining operational efficiency and repurchasing shares, the market will be closely observing its moves in the upcoming months.

With a vast portfolio of globally recognized brands, RBI's innovative strategies and decisions in share management will undoubtedly play a crucial role in maintaining its competitive edge in the fast food sector. The decisions moving forward regarding share buybacks will hinge not solely on market price but also on various economic factors, including commodity prices, interest rates, and overall consumer sentiment.

As always, RBI retains the right to modify or cancel its repurchase programs based on changing market conditions, ensuring that it remains agile and adaptive in an evolving economic landscape.