3G Restaurant Brands Holdings General Partner Ltd. - Dec 3, 2025 Form 4 Insider Report for Restaurant Brands International Inc. (QSR)

Role: 10%+ Owner
Signature: /s/ Flavio Montini
Stock symbol: QSR
Transactions as of: Dec 3, 2025
Transactions value $: $0
Form type: 4
Date filed: 12/3/2025, 04:32 PM
Previous filing: Nov 14, 2025
SEC: View on sec.gov

Reporting Owners (2)

Name	Relationship	Address	Signature	Signature date	CIK
3G Restaurant Brands Holdings General Partner Ltd.	10%+ Owner	C/O 3G CAPITAL INC., 600 THIRD AVENUE, 37TH FLOOR, NEW YORK	/s/ Flavio Montini	2025-12-03	0001653986
3G Restaurant Brands Holdings LP	10%+ Owner	C/O 3G CAPITAL INC., 600 THIRD AVENUE, 37TH FLOOR, NEW YORK	/s/ Flavio Montini	2025-12-03	0001653994

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	QSR	Common Shares	Other		-17.6M	-100%		0	Dec 3, 2025	See Footnotes	F1, F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	QSR	Forward sale contract (obligation to sell)	Other		+17.6M			0	Dec 3, 2025	Common shares	17.6M		See Footnotes	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	3G Restaurant Brands Holdings General Partner Ltd. is the general partner of HL1 17 LP ("HL1"). Accordingly, 3G Restaurant Brands Holdings General Partner Ltd. may be deemed to have voting and dispositive power with respect to the reported securities which are held directly by HL1. 3G Restaurant Brands Holdings General Partner Ltd. disclaims beneficial ownership of the reported securities except to the extent of its pecuniary interest therein, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, or for any other purpose.
F2	On December 3, 2025, HL1 settled the previously announced forward sale contract, dated as of November 13, 2025 (the "Forward Contract"), with an unaffiliated third party buyer, BofA Securities, Inc. The Forward Contract obligated HL1 to deliver to the buyer up to 17,626,570 Common Shares of the Issuer (the "Forward Shares") on the scheduled settlement date of December 3, 2025, or such earlier date as elected by HL1 in accordance with the terms of the Forward Contract in exchange for a cash payment equal to a price per Forward Share of $68.72 multiplied by a factor of (1+(an overnight bank funding rate minus a negotiated spread)) for each day that the Forward Contract was outstanding. Each Reporting Person disclaims all right, title and interest with respect to the Forward Contract transaction and nothing set forth herein shall be an admission that such Reporting Person has beneficial ownership of the Forward Shares or any transaction relating thereto.

Content

3G Restaurant Brands Holdings General Partner Ltd. is the general partner of HL1 17 LP ("HL1"). Accordingly, 3G Restaurant Brands Holdings General Partner Ltd. may be deemed to have voting and dispositive power with respect to the reported securities which are held directly by HL1. 3G Restaurant Brands Holdings General Partner Ltd. disclaims beneficial ownership of the reported securities except to the extent of its pecuniary interest therein, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, or for any other purpose.

On December 3, 2025, HL1 settled the previously announced forward sale contract, dated as of November 13, 2025 (the "Forward Contract"), with an unaffiliated third party buyer, BofA Securities, Inc. The Forward Contract obligated HL1 to deliver to the buyer up to 17,626,570 Common Shares of the Issuer (the "Forward Shares") on the scheduled settlement date of December 3, 2025, or such earlier date as elected by HL1 in accordance with the terms of the Forward Contract in exchange for a cash payment equal to a price per Forward Share of $68.72 multiplied by a factor of (1+(an overnight bank funding rate minus a negotiated spread)) for each day that the Forward Contract was outstanding. Each Reporting Person disclaims all right, title and interest with respect to the Forward Contract transaction and nothing set forth herein shall be an admission that such Reporting Person has beneficial ownership of the Forward Shares or any transaction relating thereto.