Restaurant Brands International to Buy Back 2.8 Million Units for Cash

The transaction is scheduled for completion on August 31, 2026. The repurchase price will be determined by the 20-day volume-weighted average price of the company's common shares on the NYSE, as dictated by the partnership agreement. This exchange notice is irrevocable, and the units will be cancelled once the process settles.

Following the completion of this exchange, 3G Capital’s affiliate will retain approximately 21% of the company's fully diluted common shares. Restaurant Brands International, which oversees brands including Tim Hortons, Burger King, Popeyes, and Firehouse Subs, maintains a global footprint of over 33,000 locations across 120 countries.