Monitoring Agency Reports w.r.t. utilisation of issue proceeds raised through: a. Qualified Institutions Placement b. Preferential issue on private placement basis

August 03, 2026 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: RBA Sub.: Monitoring Agency Reports w.r.t. utilisation of issue proceeds raised through: a. Qualified Institutions Placement b. Preferential issue on private placement basis Ref.: 1. Regulation 32(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015; and 2. Regulation 162A and 173A of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 Dear Sir/Ma’am, Pursuant to the aforementioned Regulations, please find enclosed herewith following Monitoring Agency Reports for the quarter ended June 30, 2026, in respect of utilisation of issue proceeds raised by the Company: Sr. No. Monitoring Agency Funds Raised through 1 ICRA Limited Qualified Institutions Placement 2 India Rating and Research Private Limited Preferential issue on private placement basis The said reports are also being made available on the website of the Company at www.burgerking.in. We request you to take the aforesaid on record. Thanking You, For Restaurant Brands Asia Limited Shweta Mayekar Company Secretary and Compliance Officer (Membership No.: A23786) Encl.: As above restaurant brands asia limited (Formerly known as Burger King India Limited) Registered Office : 2nd Floor, ABR Emerald, Plot No. D-8, Street No. 16, MIDC, Andheri (East), Mumbai – 400 093 CIN : L55204MH2013FLC249986 | info@burgerking.in | Tel : 022-7193 3000 | Website : www.burgerking.in ICRA Limited Date: August 03, 2026 Mr Sumit Zaveri Group CFO & Chief Business Officer Restaurant Brands Asia Limited 2nd Floor, ABR Emerald, Plot No.D-8, Street No 16, MIDC Andheri (E) Mumbai -400093 Dear Sir Re: Final Monitoring Agency report of Restaurants Brands Asia Limited for Q1 FY2027 Please refer to agreement dated March 24, 2025 appointing ICRA Limited as the Monitoring Agency (MA) for Restaurants Brands Asia Limited’s QIP Issue. After due consideration, ICRA has prepared the attached final Monitoring Agency report as per SEBI (Issue of Capital and Disclosure Requirements) Regulations for Q1 FY2027. Please note that the Monitoring Agency report does not constitute a commentary on the quality of the objects of the issue, appropriateness or reasonableness of costs or spending by Restaurants Brands Asia Limited against any objects / heads or assurance on outcome of such spending. We thank you for your kind cooperation extended during the course of Q1 FY2027. Should you require any clarification, please do not hesitate to get in touch with us. We look forward to your communication and assure you of our best services. With kind regards For ICRA Limited Parul Goyal Narang Vice President & Head- Process Excellence Parul.goyal@icraindia.com Building No. 8, 2nd Floor, Tower A Tel.: +91.124 .4545300 Website: www.icra.in DLF Cyber City, Phase II CIN : L749999DL1991PLC042749 Email: info@icraindia.com Gurugram – 122002, Haryana Helpdesk: +91 9354738909 Registered Office: B-710, Statesman House, 148, Barakhamba Road, New Delhi 110001. Tel. :+91.11.23357940-41 RATING ● RESEARCH ● INFORMATION June 2026 MONITORING AGENCY REPORT Name of the Issuer: Restaurant Brands Asia Limited For quarter ended: June 30, 2026 Name of the Monitoring Agency: ICRA Limited (a) Deviation from the objects of the issue: No Material deviation - The utilization of the issuance proceeds is in line with the objects of the issue. (b) Range of deviation: Not Applicable Declaration: We declare that this report provides an objective view of the utilization of the issue proceeds in relation to the objects of the issue based on the information provided by the Issuer and information obtained from sources believed by it to be accurate and reliable. The MA does not perform an audit and undertakes no independent verification of any information/ certifications/ statements it receives. This Report is not intended to create any legally binding obligations on the MA which accepts no responsibility, whatsoever, for loss or damage from the use of the said information. The views and opinions expressed herein do not constitute the opinion of MA to deal in any security of the Issuer in any manner whatsoever. Nothing mentioned in this report is intended to or should be construed as creating a fiduciary relationship between the MA and any issuer or between the agency and any user of this report. The MA and its affiliates also do not act as an expert as defined under Section 2(38) of the Companies Act, 2013. The MA or its affiliates may have credit rating or other commercial transactions with the entity to which the report pertains and may receive separate compensation for its ratings and certain credit related analyses. We confirm that we do not perceive any conflict of interest in such relationship/ interest while monitoring and reporting the utilization of the issue proceeds by the issuer. We have submitted the report herewith in line with the format prescribed by SEBI, capturing our comments, where applicable. There are certain sections of the report under the title “Comments of the Board of Directors”, that shall be captured by the Issuer’s Management / Audit Committee of the Board of Directors subsequent to the MA submitting their report to the issuer and before dissemination of the report through stock exchanges. These sections have not been reviewed by the MA, and the MA takes no responsibility for such comments of the issuer’s Management/Board. Signature: Parul Goyal Narang Vice President & Head-Process Excellence Analyst: Dhwani Vinchhi Quality Analyst: Parul Narang June 2026 1. Issuer Details Name of the Issuer: Restaurant Brands Asia Limited Name(s) of the promoters: Promoters QSR Asia Pte Ltd Source: BSE Industry/ sector to which it belongs: - Restaurant chain 2. Issue Details Issue Period: Opening date- March 24, 2025 Closing date- March 26, 2025 Type of Issue: QIP Issue Type of specified securities: Equity Shares IPO Grading, if any: Not Applicable Issue Size (Rs. Crore): INR 500 Crore (8,33,33,333 equity *60 each) With OFS portion:NA Excluding OFS portion: NA Net proceeds as per placement document: INR 479.00 Crore* *Net proceeds Stood at INR 480.09 Crore as issue related expenses incurred were lower than the estimated by INR 1.09 Crore. Note: ICRA will be monitoring Gross Proceeds INR 500 Crore in Q1FY2027 June 2026 3. Details of the arrangement made to ensure the monitoring of issue proceeds. Source of information, Comments of certifications considered Comments of the Monitoring the Issuer’s Particulars Reply by the Monitoring Agency Board of Agency for the Directors preparation of report The offer related expenditure -Statutory Auditor have decreased from INR 21.00 Certificate Whether all utilization is as per Crore to INR 19.19 Crore due to -Confirmation from the disclosures in the Offer Yes which the General Corporate - management Document? Purpose amount has been -Bank statement of the revised by the issuer to INR Monitoring account 83.09 Crore from INR 82.00 Crore Revision in GCP amount by 1.3% is on account of actual offer Whether shareholder approval related expenditure being lower has been obtained in case of Not As confirmed by the than estimated by INR 1.81 material deviations# from - Applicable Issuer’s management Crore. expenditures disclosed in the However, the revised amount is Offer Document? within the limit of 25% of Gross Proceeds Whether the means of finance for the disclosed objects of the No As confirmed by the No comments - issue has changed? Issuer’s management Is there any major deviation observed over the earlier No No deviation observed. No comments - monitoring agency reports? Whether all Government/ statutory approvals relate [Showing first 8,000 characters — download PDF for full document]