Collins Foods (CKF) investor relations material

Strategic Growth and Expansion

• Announced acquisition of eight KFC restaurants in Bavaria for approximately €31.1 million, increasing the German network by nearly 50% and providing entry into a high GDP, high population region with strong store economics.

• Expanded German development agreements target 45–90 new restaurants across Bavaria, Baden-Württemberg, and North Rhine-Westphalia over four years, with conditional exclusivity and right of first refusal in key regions.

• Acquisition is expected to be immediately EPS accretive, with acquired restaurants projected to generate €28.2m in revenue and €5.3m pre-AASB16 EBITDA in the first 12 months post-completion; acquisition multiple just below 6x restaurant-level EBITDA.

• Completion of the acquisition is expected between May and June 2026, subject to standard conditions.

• Focus on disciplined site selection, operational excellence, and successful integration of new assets to ensure high returns.

Market Positioning and Outlook

• KFC remains under-penetrated in Germany compared to competitors, offering significant expansion potential and leveraging attractive demographics and economic strength in key states.

• Presence now established in Germany’s three leading states by population and GDP, covering over 50% of the country’s population and GDP.

• Strategic focus in Germany is on accelerated growth, while in the Netherlands the priority is operational profitability and portfolio optimization.

• No exclusivity or right of first refusal in Bavaria, but conditional exclusivity and right of first refusal secured in other key German states; significant white space remains for further development.

• Management highlights disciplined execution and significant growth opportunities in Germany, aiming to establish it as a second growth pillar.

Netherlands Corporate Franchise Agreement Update

• Franchise agreement in the Netherlands extended by three years to December 2029, with Yum! Brands resuming product and marketing responsibilities from January 2027.

• Marketing staff to transfer to Yum! Brands by January 2027; service fee adjusted to reflect new roles.

• Development targets in the Netherlands moderated to allow portfolio optimization, with no material impact expected on profitability.