Yum China Donates Modern Kitchen Equipment to Rural Schools in Hubei Province

SHANGHAI,Dec. 11,2020 -- Yum China Holdings,Inc. (the "Company" or "Yum China",NYSE: YUMC and HKEX: 9987) announced that in partnership with the China Foundation for Poverty Alleviation (CFPA),the Company has donated modern kitchen equipment to 70 schools in rural areas of Hubei,as part of the Company's efforts to support the region's post-COVID-19 economic recovery.

To mark the donation,Joey Wat,CEO of Yum China,and other representatives of Yum China's senior management team,visited Qingshan School in Hubei,one of the schools sponsored by the program,and donated winter clothing to the students there.

"As society continues to tackle the challenges of COVID-19,it is especially important to ensure that children have access to safe and nutritious food. As the largest restaurant company in China,we are well positioned to support rural areas in this task. By providing modern kitchen equipment to schools we can promote safe and healthy meals,which in turn helps children to be physically prepared to become future leaders and community members," said Joey Wat,CEO of Yum China. "Yum China is committed to standing alongside communities and will continue to explore various ways to extend our poverty alleviation efforts."

Joey Wat,representatives of the management team,representatives of CFPA and Hubei provincial government at the donation ceremony

Joey Wat,CEO of Yum China with students

The modern kitchen equipment program is part of a larger nationwide CSR initiative aiming to upgrade kitchen facilities and improve food safety in rural schools. To date Yum China has provided modern kitchen equipment to 1,200 schools in 13 provinces across the country,allowing nearly 400,000 students to enjoy healthy and nutritious meals.

Modern kitchen equipment donated by Yum China

"Investing in child nutrition is an investment in the future. By leveraging our respective strengths and encouraging greater social participation,we will continue to work with Yum China to promote improved nutrition for children in rural areas," said Wang Xingzui,Vice-President of CFPA.

Yum China provided targeted support to Hubei in various ways throughout 2020. Immediately after the outbreak of COVID-19,Yum China donated RMB 3 million to support medical workers in Wuhan and recruited employee volunteers to deliver free meals from KFC and Pizza Hut restaurants to hospitals and front-line workers in Wuhan. In addition,Yum China has leveraged its supply chain capabilities to support Hubei's economic recovery by increasing procurement of eligible food ingredients from the province,and developing innovative and locally inspired dishes such as Hot Dry Crayfish Noodles.

Since entering China more than 30 years ago,Yum China has actively supported children in rural areas. The One Yuan Donation program,jointly launched by Yum China and CFPA in 2008,is now in its 13th year. A key focus area of the program is supporting the healthy development of children by donating nutritious meals and modern kitchen equipment to schools in rural areas.

The One Yuan Donation program is also helping children across the country benefit from digital education through the donation of audio-visual equipment and development of remote learning courses for students and teachers.

Yum China is continuously exploring new and innovative ways to fight poverty and expand the reach and impact of its poverty alleviation activities. As China's largest restaurant company,Yum China is firmly committed to promoting economic,social,and environmental sustainability,including positively impacting the communities Yum China operates in.

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 the Securities 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 Reports 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. Yum China also partners with Lavazza to explore and develop the Lavazza coffee shop concept in China. The Company had 10,150 restaurants in over 1,400 cities at the end of September 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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