Many of our restaurants are operating with limited service modes serving food through channels such as drive-thru, delivery, and take-out. We do not record franchise sales as revenues; however, our franchise revenues include royalties based on a percentage of franchise sales.Net restaurant growth refers to the net increase in restaurant count (openings, net of permanent closures) over a trailing twelve month period, divided by the restaurant count at the beginning of the trailing twelve month period.Below, we define the non-GAAP financial measures, provide a reconciliation of each non-GAAP financial measure to the most directly comparable financial measure calculated in accordance with U.S. Generally Accepted Accounting Principles ("GAAP"), and discuss the reasons why we believe this information is useful to management and may be useful to investors. Adjusted EBITDA is defined as EBITDA excluding (i) the non-cash impact of share-based compensation and non-cash incentive compensation expense, (ii) (income) loss from equity method investments, net of cash distributions received from equity method investments, (iii) other operating expenses (income), net, and (iv) income or expense from non-recurring projects and non-operating activities. This combination positions us very well to navigate through this crisis and continue on our path to deliver industry-leading system-wide sales growth and build the most loved restaurants brands in the world," added Cil. We are looking for the best talent in the world and offer incredible opportunities for your career growth. These measures do not have standardized meanings under GAAP and may differ from similarly captioned measures of other companies in our industry.To supplement our condensed consolidated financial statements presented on a GAAP basis, RBI reports the following non-GAAP financial measures: EBITDA, Adjusted EBITDA, LTM Adjusted EBITDA, Adjusted Net Income, Adjusted Diluted Earnings per Share ("Adjusted Diluted EPS"), Organic revenue growth, Organic Adjusted EBITDA growth, Free Cash Flow and Net Leverage. Brazilian investment firm famous for orchestrating the merger between Inbev and Anheuser-Busch in 2008 This decrease was also driven by FX movements on a GAAP basis.For the second quarter of 2020, the decrease in system-wide sales growth was driven by a decrease in comparable sales of (13.4)%, including a decrease in US comparable sales of (9.9)%, as well as the temporary closure of certain restaurants related to the COVID-19 pandemic, partially offset by net restaurant growth of 4.2%.

System-wide sales are driven by sales at franchise restaurants, as approximately 100% of current restaurants are franchised. -0.55 Smells like coffee, fried chicken and burgers. EX-21.1 2 d293138dex211.htm LIST OF SUBSIDIARIES OF THE REGISTRANT Exhibit 21.1 . These forward-looking statements include statements about our expectations regarding the effects of the COVID-19 pandemic on our results of operations, liquidity and prospects and those of our franchisees, digital engagement, our efforts to assist restaurant owners in maintaining liquidity, our Winning Together Plan, our expectations regarding strategic initiatives and our restaurant pipeline, investment in marketing and long-term growth prospects. Free Cash Flow is a liquidity measure used by management as one factor in determining the amount of cash that is available for working capital needs or other uses of cash, however, it does not represent residual cash flows available for discretionary expenditures. The year-over-year change in Total Revenues on a GAAP and on an organic basis was primarily driven by system-wide sales growth.The year-over-year change in Adjusted EBITDA on a GAAP and on an organic basis was primarily driven by system-wide sales growth. These forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties.

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