13G Filing: Pershing Square and Restaurant Brands International Inc. (QSR)

Page 7 of 9 – SEC Filing


As of August 10, 2017, (i) Pershing Square and PS Management beneficially owned
29,534,428 Common Shares, consisting of (x) 29,150,551 Common Shares owned by the Pershing Square Funds and (y) 383,877 Common Shares issuable on exchange of exchangeable units in Restaurant Brands International Limited Partnership
(Exchangeable Units) owned by the Pershing Square Funds, and (ii) Mr. Ackman beneficially owned 33,095,976 Common Shares, consisting of (x) 29,150,551 Common Shares owned by the Pershing Square Funds,
(y) 383,877 Common Shares issuable on exchange of Exchangeable Units owned by the Pershing Square Funds and (z) 3,561,548 Common Shares issuable on exchange of Exchangeable Units beneficially owned by Mr. Ackman but not the other
Reporting Persons.

The number of Exchangeable Units beneficially owned by the Reporting Persons has not changed since the initial filing
of this Schedule 13G.

(b) Percent of Class:

(i) In the case of Pershing Square and PS Management, 12.5% and (ii) in the case of Mr. Ackman, 13.8%. The percentages used herein
are rounded to the nearest tenth and based on 236,263,566 Common Shares outstanding as of July 21, 2017 as reported in the Issuers Form 10-Q filed on August 2, 2017 (the Form 10-Q), plus (i) in the case of
Pershing Square and PS Management, 383,877 Common Shares issuable on exchange of Exchangeable Units beneficially owned by Pershing Square and PS Management and (ii) in the case of Mr. Ackman, 3,945,425 Common Shares issuable on exchange of
Exchangeable Units beneficially owned by Mr. Ackman. The percentages for each Reporting Person exclude the effect of Common Shares issuable on exchange of Exchangeable Units not beneficially owned by such Reporting Person. According to the Form
10-Q, 226,848,674 Common Shares were issuable on exchange of outstanding Exchangeable Units as of July 21, 2017. The holders of Common Shares and the trustee of a voting trust that owns a special voting share in the Issuer, acting at the
direction of the holders of Exchangeable Units, vote together as a class on all matters.

(c) Number of shares as to which such person
has:

(i) Sole power to vote or to direct the vote:

In the case of Pershing Square and PS Management, none, and in the case of Mr. Ackman, 3,561,548.

(ii) Shared power to vote or to direct the vote:

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