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Restaurant Brands International Inc. Announces Renewal of Normal Course Issuer Bid

QSR
  • Restaurant Brands International Inc. (RBI) announced that the Toronto Stock Exchange accepted notice of its intention to renew its normal course issuer bid (NCIB) for common shares.
  • The NCIB operates under a board-approved repurchase authorization allowing RBI to purchase up to U.S.$1,000 million of common shares through September 30, 2027.
  • During the 12-month period from September 16, 2026 to September 15, 2027, RBI may purchase up to 34,404,688 common shares, representing 10% of its public float as of September 2, 2026.
  • Purchases will be conducted via the TSX, NYSE, alternative trading systems, private agreements, or derivative-based programs such as accelerated share repurchase transactions.
  • Daily repurchases on the TSX are limited to a maximum of 274,585 common shares, which equals 25% of the average daily trading volume over the six months ended August 31, 2026.
  • Under the previous 2025 NCIB, RBI repurchased 2,910,671 common shares for cancellation at a weighted average price of approximately U.S.$74.97 per share up to September 10, 2026.
  • All shares repurchased under the authorization will be cancelled \& funded using RBI's cash resources.
  • RBI retains the right to modify, suspend, or discontinue the repurchase authorization \& NCIB at any time based on market conditions.
  • RBI operates nearly 33,000 restaurants in over 120 countries \& territories, owning the TIM HORTONS, BURGER KING, POPEYES, \& FIREHOUSE SUBS brands.