Yum China Stands with Communities to Fight Coronavirus

SHANGHAI,Feb. 21,2020 -- Yum China Holdings,Inc. (the "Company" or "Yum China") (NYSE: YUMC) today announced that it has been actively mobilizing resources in a multi-pronged response to the outbreak of novel coronavirus (COVID-19). As part of its efforts,the Company immediately introduced enhanced preventative health measures that prioritize the health of employees and customers,including the introduction of innovative new contactless delivery and corporate catering services. Yum China has also donated funding,free meals,and volunteer time to support medical workers on the frontline.

Medical workers enjoying free KFC meals

"Throughout our response efforts,the health and safety of our employees and customers remains our top priority. My sincere appreciation goes to our employees who are working tirelessly to ensure that millions of people have access to healthy and nutritious meals," said Joey Wat,CEO of Yum China. "Yum China has a long-standing commitment to corporate social responsibility,including supporting the community during times of difficulty. While there are significant challenges,I believe there are also opportunities for Yum China to provide practical support to those working on the frontline. We will continue to stand shoulder to shoulder with communities to respond to and recover from the outbreak."

Yum China has donated RMB 3 million to support hospital workers in Wuhan,and the Company's brands are also contributing in other ways. Since January 27,the KFC and Pizza Hut brands have been providing up to 1,500 free meals every day to medical workers in hospitals across Wuhan. The initiative has since been expanded,resulting in the delivery of over 70,000 free meals to nearly 500 hospitals and community health centers across mainland China. In addition,the Little Sheep brand has donated 20,000 instant hot-pots to numerous organizations actively involved in efforts to combat the coronavirus.

Once the outbreak was confirmed by the relevant authorities,Yum China acted quickly to put in place robust measures to help maintain the safety of employees and customers,while ensuring the continuity of services where appropriate. These measures include enhanced disinfection procedures,mandatory body temperature checks for all employees and the provision of protective masks. Yum China employees are being given additional support,following the launch of a recently upgraded employee insurance policy and a dedicated employee support hotline.

The Company's brands have also introduced innovative new services. Since January 30th,the KFC and Pizza Hut brands in China have rolled out contactless delivery services nationwide and contactless in store pick-up services at selected locations in China. These services help reduce the risk of person-to-person transmission of the coronavirus and have been well received by customers. In addition,with companies gradually returning to work following the extended Chinese New Year break,corporate catering services are helping employers to offer healthy and reliable dining options to their staff. To provide greater support and convenience for corporate customers,the KFC and Pizza Hut brands in China have launched an upgraded range of corporate catering solutions.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements generally can be identified by the fact that they do not relate strictly to historical or current facts and by the use of forward-looking words such as "expect," "expectation," "believe," "anticipate," "may," "could," "intend," "belief," "plan," "estimate," "target," "predict," "likely," "will," "should," "forecast," "outlook," "look forward to" or similar terminology. These statements are based on current estimates and assumptions made by us in light of our experience and perception of historical trends,current conditions and expected future developments,as well as other factors that we believe are appropriate and reasonable under the circumstances,but there can be no assurance that such estimates and assumptions will prove to be correct. Forward-looking statements are not guarantees of performance and are inherently subject to known and unknown risks and uncertainties that are difficult to predict and could cause our actual results to differ materially from those indicated by those statements. We cannot assure you that any of our expectations,estimates or assumptions will be achieved. The forward-looking statements included in this press release are only made as of the date of this press release,and we disclaim any obligation to publicly update any forward-looking statement to reflect subsequent events or circumstances,except as required by law. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. You should consult our filings with theSecurities and Exchange Commission(including the information set forth under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations " in our Annual Report on Form 10-K) for additional detail about factors that could affect our financial and other results.

About Yum China Holdings,Inc.

Yum China Holdings,Inc. is a licensee of Yum! Brands in mainland China. It has exclusive rights in mainland China to KFC,China's leading quick-service restaurant brand,Pizza Hut,the leading casual dining restaurant brand in China,and Taco Bell,a California-based restaurant chain serving innovative Mexican-inspired food. Yum China also owns the Little Sheep,East Dawning and COFFii & JOY concepts outright. The Company had 9,200 restaurants in over 1,300 cities at the end of December 2019. Yum China ranked # 362 on the Fortune 500 list for 2019. In 2020,Yum China was named to the Bloomberg Gender-Equality Index and was certified as a Top Employer 2020 in China by the Top Employers Institute,both for the second consecutive year. For more information,please visit http://ir.yumchina.com.

Investor Relations Contact:

Tel: +86 21 2407 7556

IR@YumChina.com

Media Contact:

Tel: +86 21 2407 7510

Media@YumChina.com

Medical workers enjoying free KFC meals

The Little Sheep brand delivered instant hotpots to local CDC

Contactless delivery

Contactless pick-up in store

Contactless pick-up in store

Staff volunteers preparing food donated to support medical workers in Wuhan

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