RBA

January 28, 2022 BSE Limited National Stock Exchange of India Limited Corporate Relations Department Listing Department Phiroze Jeejeeboy Towers Exchange Plaza, 5th Floor, Plot no. C/1, Dalal Street, Fort, G Block, Bandra Kurla Complex, Bandra (E) Mumbai- 400 001 Mumbai- 400 051 Scrip Code: 543248 SYMBOL: BURGERKING Sub.: Revision in Investor Presentation Ref.: Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘SEBI Listing Regulations’) Dear Sir/Madam, In reference to our earlier letter dated January 24, 2022 and pursuant to the aforesaid Regulations, we request you to note that there were few typing errors in the Investor Presentation submitted by the Company along with the financial results on January 24, 2022 such as: Pages Particulars Page/ Slide 1. In chart of Dine in | Delivery Sales Mix the % was mentioned as Q3 No. 8 FY23 instead of Q3 FY22; and 2. In chart of Dine in | Delivery ADS Recovery the % was mentioned as Q3 FY23 instead of Q3 FY22 Page/ Slide In chart of Overall Pan India ADS Recovery* on FY20 Baseline the % was mentioned No. 9 as Q3 FY23 instead of Q3 FY22 Page/ Slide 18 BK Café in Q3’21 was mentioned instead of 18 BK Café in Q3 No. 15 In view of the aforesaid, please find enclosed herewith the revised Investor Presentation (‘said presentation’) for your reference and records. The said presentation along with this intimation are also being uploaded on the Company's website i.e. www.burgerking.in. Thanking You, For Burger King India Limited (Formerly Known as Burger King India Private Limited) Madhulika Rawat Company Secretary and Compliance Officer Membership No.: F8765 Encl.: As above BURGER KING INDIA LIMITED (Formerly known as Burger King India Private Limited) Registered office: Unit Nos.1003-1007, 10th Floor, Mittal Commercia, Asan Pada Road, Chimatpada, Marol, Andheri East, Mumbai - 400059 CIN : L55204MH2013FLC249986 / info@burgerking.in / Tel.: 022-7193 3000 Website: www.burgerking.in Burger King India Limited Q3 FY22 Earnings Presentation 24th January 2022 1 CONFIDENTIAL AND PROPRIETARY INFORMATION Disclaimer Certain statements made in this presentation relating to the Company’s objectives, projections, outlook, expectations, estimates, among others may constitute ‘forward-looking statements’ within the meaning of applicable laws and regulations. Actual results may differ from such expectations, projections etc., whether express or implied. These forward-looking statements are based on various assumptions, expectations and other factors which are not limited to, risk and uncertainties regarding fluctuations in earnings, competitive intensity, pricing environment in the market, economic conditions affecting demand and supply, change in input costs, ability to maintain and manage key customer relationships and supply chain sources, new or changed priorities of trade, significant changes in political stability in India and globally, government regulations and taxation, climatic conditions, natural calamity, commodity price fluctuations, currency rate fluctuations, litigation among others over which the Company does not have any direct control. These factors may affect our ability to successfully implement our business strategy. The company cannot, therefore, guarantee that the ‘forward-looking’ statements made herein shall be realized. The Company, may alter, amend, modify or make necessary corrective changes in any manner to any such forward looking statement contained herein or make written or oral forward-looking statements as may be required from time to time on the basis of subsequent developments and events. Burger King India Ltd | Q3 FY22 | 24th January 2022 2 Executive Summary – Q3 FY22 Business Highlights:  Revenue from Operations for Q3 FY22 at INR 2,798.9 Mn vs INR 2,454.0 Mn for Q2 FY22; with 14% sequential growth (QoQ);  Q3 FY22 ADS Recovery* at 104% on FY20 ADS  Delivery business continued growth momentum with ADS recovery* at 160%;  Dine-in business continued to grow in Q3 with ADS recovery* at 78% vs 65% in Q2;  Region Recovery: West: 119%; South & East: 108% and North: 95%  Gross profit margin improved by 70 bps from 65.4% to 66.1%; in-line with our expectations  Dec’21 ADS Recovery* at 111% on FY20 ADS  Delivery ADS recovery at 166%; Dine-in recovery improved to 86%  Region Recovery: West: 126%, South & East: 115%, North: 102%  Restaurant EBITDA at INR 481.2 Mn; 17.2% for Q3 FY22 vs INR 407.7 Mn; 16.6% in Q2 FY22  Company EBITDA at INR 328.2 Mn; 11.7% for Q3 FY22 vs INR 256.0 Mn; 10.4% in Q2 FY22 Update on Burger King Indonesia Acquisition :  Based on the approval of Board, definitive agreements executed on December 16, 2021 to acquire 83.24% stake at Enterprise Value of USD 183 Mn (on a cash free and debt free basis for 100% of the shares of BK Indonesia)  Necessary approval from shareholder received; Closing subject to various approvals and other conditions. *Average Daily Sale (ADS) recovery is calculated with current period ADS to full year FY20 ADS Burger King India Ltd | Q3 FY22 | 24th January 2022 3 Executive Summary – Q3 FY22 Restaurant Growth:  294 restaurant count as at 31st December 2021  Q3 FY22 Net Addition: 20 restaurants (Opened: 20; Closed: 0 )  9 restaurants under construction and 65 restaurants in pipeline as at today BK APP  BK APP Delivery revenue growth >41% QoQ  Over 2.35 Mn APP installs; >55% growth over last quarter installs BK Café  Soft launch of 1st BK Café on 9th November 2021;  18 BK Café opened in Q3;  8 BK Café under construction as at today Stunner Menu (Value Strategy 2.0)  Media campaign continued in Q3 with 360 TV + Digital campaign  High Stunner acceptance amongst customers Burger King India Ltd | Q3 FY22 | 24th January 2022 4 Store Opening Status Store Count as at end of year (net of closure/relocation) 700 Opened: 20 Closed: 0 294 274 270 265 260 187 129 88 49 12 FY15 FY16 FY17 FY18 FY19 FY20 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Dec 26 Burger King India Ltd | Q3 FY22 | 24th January 2022 5 Pan India – Quarterly ADS (INR in ‘000) FY20 FY21 FY22 124 114 112 111 104 74 72 56 35 Q1 Q2 Q3 *ADS is average daily sales INR in thousands for own operational stores Burger King India Ltd | Q3 FY22 | 24th January 2022 7 Dine-in | Delivery - Sales Mix and ADS Recovery* Dine-in | Delivery Sales Mix % 40% 47% 53% 72% 60% 53% 47% 28% Q4FY21 Q1 FY22 Q2 FY22 Q3 FY22 Dine-in Sales Mix Delivery Sales Mix Dine-in | Delivery ADS Recovery % 165% Dec 21: 157% 160% 166% 107% Dec 21: 86% 78% 68% 65% 32% Q4FY21 Q1 FY22 Q2 FY22 Q3 FY22 Dine-in ADS Recovery Delivery ADS Recovery *Dine in and Delivery ADS Recovery (average daily sale) is comparison of current month Dine in and Delivery ADS vs full year Dine in and Delivery ADS of FY 20 respectively Burger King India Ltd | Q3 FY22 | 24th January 2022 8 Overall Pan India – ADS Recovery* on FY20 Baseline 104% recovery in Q3 FY2022 Dec 21: 111% FY20 Base line Q4FY21 Q1 FY22 Q2 FY22 Q3 FY22 Total Own Operational 251 244 262 283 store at exit *ADS Recovery (average daily sale) is comparison of current month ADS vs full year ADS of FY 20 Burger King India Ltd | Q3 FY22 | 24th January 2022 9 Region wise- ADS Recovery* on FY20 Baseline West, South & East Leading Recovery >100% 119% Dec 21: 126% Dec 21: 103% 115% 108% Dec 21: 97% 88% 95% 102% 83% 90% 86% 73% 72% 57% Q4FY21 Q1 FY22 Q2 FY22 Q3 FY22 North West South & East *ADS Recovery (average daily sale) is comparison of current month ADS of respective region vs full year ADS of FY 20 of respective region Burger King India Ltd | Q3 FY22 | 24th January 2022 10 Q3 FY22 – Operating Performance Particulars (INR Million) Q3 FY22 % Q2 FY22 % QoQ Gr% Q3 FY21 % 9M FY22 % 9M FY21 % Revenue from operations 2 ,798.9 100.0% 2 ,454.0 100.0% 14.1% 1 ,631.9 100.0% 6,750.1 100.0% 2,984.0 100.0% Cost of materials consumed 9 49.7 33.9% 8 49.2 34.6% 11.8% 5 89.4 36.1% 2,320.4 34.4% 1,081.3 36.2% Gross Profit 1 ,849.2 66.1% 1 ,604.8 65.4% 15.2% 1 ,042.5 63.9% 4,429.8 65.6% 1,902.7 63.8% Employee Related Expenses 2 87.2 10.3% 2 46.0 10.0% 16.8% 2 09.0 12.8% 716.5 10.6% 512.1 17.2% Occupancy and Other Expenses^ 1 ,080.8 38.6% 9 51.1 38.8% 13.6% 4 51.3 27.7% 2,663.7 39.5% 931.6 31.2% Restaurant EBITDA 4 81.2 17.2% 4 07.7 16.6% 18.0% 3 82.2 23.4% 1,049.5 15.5% 459.0 15.4% Corporate General & Administration expense 1 53.0 5.5% 1 51.7 6.2% 0.9% 1 41.3 8.7% 450.1 6.7% 377.7 12.7% Company EBITDA 3 28.2 11.7% 2 56.0 10.4% 28.2% 2 40.9 14.8% 599.4 8.9% 81.2 2.7% ^includes lease concession in Q3 FY22 : Rs 35.9 Mn; in Q2 FY22: Rs. 68.6 Mn, in Q3 FY21: Rs. 160.8 Mn Burger King India Ltd | Q3 FY22 | 24th January 2022 11 Building Brand Love with Whopper 1. Driving consumption frequency with Limited Time Variants 2. Quarterly Cornerstones to drive consumer engagement • Exclusive on BK App • 5 Mn+ Impressions , 29K Clicks • Coverage by leading media in India • International coverage in South Korea, Australia, Italy, France Burger King India Ltd | Q3 FY22 | 24th January 2022 13 Strengthening BK App based delivery ecosystem New Features Added 41% 2.35Mn 177 QOQ growth on E-bikes for BK Cumulative Installs • Social Media Login App Sales Delivery ~422K MAU • New Offer Engine • Order Cancellation • Product Add On Revamp • Rider Call Activation Burger King India Ltd | Q3 FY22 | 24th January 2022 14 BK Café – 18 Pilot Café across Regions  18 BK Café in Q3  8 BK Café under construction  Mix of trade areas to assess potential  High Visibility Inputs in Café Trade Areas  Exciting sweet and savoury café food menu Burger King India Ltd | Q3 FY22 | 24th January 2022 15 Increasing Trial and Volume amongst Consumers 39% Growth in Stunner Volumes since Campaign Break *  High Stunner acceptance amongst Value Consumers *Index to July’21 volume (Stunner Campaign Launch on 15thJuly) Burger King India Ltd | Q3 FY22 | 24th January 2022 16 Summary of Key Performance Indicator Number of Stores ADS (Rs' 000s) Gross Profit % 114 300 25 66% 66.1% 66.2% 294 104 295 66% 66.0% 20 290 66% 65.8% 285 20 74 15 66% 65.6% 280 65.4% 274 65% 65.4% 275 270 10 65.2% 270 65% 65.2% 265 5 65% 65.0% 260 5 65% 64.8% 4 255 0 65% 64.6% Q1 FY22 Q2 FY22 Q3 FY22 Q1 FY22 Q2 FY22 Q3 FY22 Q1 FY22 Q2 FY22 Q3 FY22 Our performance in Q3 FY’22 is in line with earlier guidance and we will provide outlook along with Q4 performance Burger King India Ltd | Q3 FY22 | 24th January 2022 17 Shareholder Approval Shareholder Approval received on 20th January 2022 for:  Acquisition of 83.24% stake in PT Sari Burger Indonesia (“BK Indonesia”) at Enterprise Value of USD 183 Mn (on a cash free and debt free basis for 100% of the shares of BK Indonesia)  Increase in authorised capital to Rs. 6,000 million divided into 600,000,000 shares.  Issue of securities through public and/or private offerings for amount not exceeding Rs. 15,000 million  Name change to “ Restaurant Brands Asia Limited”; effective post ROC approval Burger King India Ltd | Q3 FY22 | 24th January 2022 18 Burger King India, We Are Just Getting Started! For additional Information: Mr. Prashant Desai, Head of Strategy and Investor Relations Email: pdesai@burgerking.in