TH International Limited Investor Presentation — June 2024

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June 5th, 2024Q1 2024 Earnings Presentation Tims China

Disclaimer and Risk Factors

1This presentation ("Presentation") is provided by TH International Limited (“THIL") for informational purposes only and does not constitute, or form a part of, an offer to sell, or the solicitation of an offer to sell or an offer to buy, any securities.

The information herein does not purport to be all -inclusive. Neither THIL nor any of its affiliates, agents, advisors, directors , officers, employees and shareholders shall have any liability whatsoever, under contract, tort, trust or otherwise, to

you or any person resulting from the use of the information in this Presentation by you or any of your representatives or for omissions from the information in this Presentation. No legally binding obligations will be created, implied, or

inferred from this Presentation or the information contained herein. THIL reserves the right to amend or replace the informat ion contained herein, in part or entirely, at any time, and undertake no obligation to provide you with access to the

amended information or to notify you thereof.

The Presentation has not been endorsed by Restaurant Brands International Inc. or any its subsidiaries, affiliates, officers, directors, agents, employees and advisors (collectively, “Identified Persons”). The grant of the Tim Horton franchise

rights to THIL by Tim Hortons Restaurant International GmbH (“THRI”), an affiliate of Restaurant Brands International Inc., p ursuant to the Master Franchise and Development Agreement and THIL Franchise Agreements, as amended, should

not be construed as an express or implied approval or endorsement by any Identified Persons of any statement regarding perfor mance of THIL (financial or otherwise) in this Presentation. The enforcement or waiver of any obligation of THIL

under the Master Franchise and Development Agreement or THIL Franchise Agreements, as amended, is generally a matter of THRI’ s sole discretion. You should not rely on any representation, assumption or belief that THRI will waive any

obligations of THIL under those agreements.

Trademarks and Trade Names

This Presentation contains trademarks, service marks and trade names of third parties, which are the property of their respec tive owners. The use or display of third parties’ trademarks, service marks, trade names or products in this

Presentation is not intended to, and does not imply, a relationship with THIL, or an endorsement or sponsorship by or of THIL . Solely for convenience, the trademarks, service marks and trade names referred to in this Presentation may

appear without the ® , TM or SM symbols, but such references are not intended to indicate, in any way, that THIL will not asse rt, to the fullest extent under applicable law, their rights or the right of the applicable licensor to these trademarks,