Yum China Named Official Retail Food Services Sponsor of the Beijing 2022 Olympic Winter Games

SHANGHAI,July 20,2020 -- Yum China Holdings,Inc. (the "Company" or "Yum China") (NYSE: YUMC) today announced that it has been named as the Official Retail Food Services Sponsor of the Olympic and Paralympic Winter Games Beijing 2022 ("Beijing 2022"). Yum China also becomes an Official Sponsor of the Chinese Olympic Committee through the end of 2024.

Yum China unveiled a composite logo to mark the sponsorship

Yum China CEO Joey Wat celebrates the sponsorship with other representatives

As the Official Retail Food Services Sponsor of Beijing 2022 Games,Yum China will provide retail food services for the Games. Yum China's brands,including KFC,Pizza Hut and others,will be on site at the Beijing 2022 venues providing food and refreshment for visitors and athletes from around the world. The sponsorship rights will also allow Yum China to use,for advertising and promotional purposes,the Olympic marks and imagery of the Beijing 2022 Olympic Winter Games as well as marks of the Chinese Olympic Committee. Yum China plans to launch a series of Olympic-themed marketing campaigns to excite and inspire consumers.

"We are honored to support the Beijing 2022 Olympic and Paralympic Winter Games as an Official Sponsor," said Joey Wat,CEO of Yum China. "At Yum China,we are committed to leveraging our brand influence,strong offline and online network,as well as over 250 million members to promote the Olympic values of Excellence,Respect and Friendship. Building on our established connection with young people,we hope to inspire and motivate increased participation in winter sports,and contribute to bringing the Olympic spirit to life."

Leveraging its industry-leading digital capabilities,Yum China has built a powerful digital ecosystem that spans the entire customer journey,multiple consumption scenarios and personalized consumer needs. This is helping Yum China to create enhanced customer experiences and engagement opportunities,expanding influence from restaurants to the community in areas of such as culture and sports.

The sponsorship agreement builds on Yum China's long track-record of promoting sports and healthy lifestyles in communities throughout China. This includes supporting major sporting events such as the 2019 Tennis Masters,3x3 basketball competitions and city marathons. Yum China looks forward to welcoming visitors and athletes from around the world to Beijing in 2022.

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 include,without limitation,statements regarding our strategies and business plans. 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 and our Quarterly Report on Form 10-Q) 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,Huang Ji Huang,East Dawning and COFFii & JOY concepts outright. The Company had 9,295 restaurants in over 1,400 cities at the end of March 2020. Yum China ranked # 361 on the Fortune 500 list for 2020. 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.

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