3G Capital affiliate to sell up to 17.6M QSR shares at $68.72 in secondary offering

Restaurant Brands International Inc.

HL1 17 LP (3G affiliate) exchanges 17,626,570 Class B units for common shares; RBI will not receive any proceeds.
Offering priced at $68.72/share via forward sale with BofA Securities; expected close Nov 17, 2025.
Selling shareholder and 3G affiliates subject to 45-day lock-up from offering date.
Settlement of forward sale and exchange expected by December 3, 2025; aggregate share count unchanged.

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