Popeyes® Announces Agreement to Open Restaurants Across India, Bangladesh, Nepal and Bhutan

Iconic fried chicken brand to open hundreds of restaurants over the coming years

NOIDA, India, March 24, 2021 /PRNewswire/ - Today, the Popeyes® brand and Jubilant Foodworks Limited ("JFL") announced exciting new plans to develop and open hundreds of Popeyes® restaurants across India, Bangladesh, Nepal and Bhutan in the coming years.

"We're excited to introduce our iconic Louisiana-style chicken to a new population in the world that already celebrates and loves bold and delicious flavours," said David Shear, President RBI International, parent company of Popeyes®. "At Popeyes®, we believe that the best food takes time, we marinate our chicken for 12 hours in bold Louisiana seasonings, then hand batter and slowly cook it to make it the juiciest and crispiest chicken that I think our guests will ever have."

Founded in New Orleans in 1972, Popeyes^® has more than 45 years of history and culinary tradition. Popeyes^® distinguishes itself with a unique New Orleans style menu featuring the iconic chicken sandwich, spicy chicken, chicken tenders, fried shrimp, and other regional items. Popeyes^® uses proprietary seasonings and techniques developed by an in-house culinary team of chefs that makes its fried chicken a point of reference for Michelin Chefs and celebrities.

The brand's passion for its Louisiana heritage and flavourful authentic food has allowed Popeyes^® to become one of the world's largest chicken quick service restaurants with over 3,400 restaurants in over 25 countries around the world.

Mr. Shyam S. Bhartia, Chairman and Mr. Hari S. Bhartia, Co-Chairman, Jubilant Foodworks Limited said, "We are happy to announce the signing of a multi-country agreement to acquire the exclusive rights to operate and sub-license the iconic Popeyes^® brand in India and neighbouring countries. Chicken is one of the largest and fastest growing categories in India and is expected to grow rapidly in years to come. Popeyes^® will be an exciting addition to the JFL portfolio and is expected to become one of the key drivers of growth for us in the coming years."

Today's announcement reflects the global appeal of Popeyes^® and contributes to the aggressive brand expansion plan globally. Popeyes® will enter the United Kingdom in the coming years and build its presence in Mexico starting in 2021, with plans to open several hundreds of restaurants across both countries. Other successful international expansions over the past years include Spain, Switzerland, China, Brazil, Sri Lanka and the Philippines.

About Restaurant Brands International Inc.
Restaurant Brands International Inc. ("RBI") is one of the world's largest quick service restaurant companies with approximately $31 billion in annual system-wide sales and 27,000 restaurants in more than 100 countries and U.S. territories. RBI owns three of the world's most prominent and iconic quick service restaurant brands - TIM HORTONS®, BURGER KING®, and POPEYES®. These independently operated brands have been serving their respective guests, franchisees and communities for over 45 years.

About Popeyes®
Founded in New Orleans in 1972, Popeyes® has more than 45 years of history and culinary tradition. Popeyes® distinguishes itself with a unique New Orleans style menu featuring spicy chicken, chicken tenders, fried shrimp, and other regional items. The chain's passion for its Louisiana heritage and flavorful authentic food has allowed Popeyes to become one of the world's largest chicken quick service restaurants with over 3,400 restaurants in the U.S. and around the world.

About Jubilant Foodworks Limited.
Jubilant Foodworks Limited is part of the Jubilant Bhartia Group and is one of India's largest food service companies. The company holds the master franchise rights for two international brands, Domino's Pizza and Dunkin' Donuts, and operates its homegrown brands – Hong's Kitchen, Chef Boss and Ekdum! – in India.

The company currently operates more than 1,300 outlets and has more than 30,000 brand ambassadors committed to deliver value to its customers.

To learn more about JFL, please visit the company's website at www.jubilantfoodworks.com.

Forward-Looking Statements
This press release includes forward-looking statements, which are often identified by the words "may," "might," "believes," "thinks," "anticipates," "plans," "expects," "intends" or similar expressions and reflect management's expectations regarding future events and operating performance and speak only as of the date hereof. These forward-looking statements include statements about RBI's expectations and belief about the number of Popeyes restaurants that JFL will open across India, Bangladesh, Nepal and Bhutan in the coming years. The factors that could cause actual results to differ materially from RBI's expectations and beliefs are detailed in filings of RBI with the Securities and Exchange Commission and applicable Canadian securities regulatory authorities, such as its annual and quarterly reports and include the following risks: risks related to RBI's ability to successfully implement its domestic and international growth strategy and risks related to its international operations; risks related to RBI's ability to compete domestically and internationally in an intensely competitive industry; and risks related to RBI's ability to successfully accelerate international development with strategic partners and joint ventures. Other than as required under U.S. federal securities laws or Canadian securities laws, we do not assume a duty to update these forward-looking statements, whether as a result of new information, subsequent events or circumstances, change in expectations or otherwise.