Yum China Named Official Exclusive Supplier of Western Food Catering Services for the 19th Asian Games Hangzhou 2022

SHANGHAI,Feb. 5,2021 --Yum China Holdings,Inc. (the "Company" or "Yum China",NYSE: YUMC and HKEX: 9987) announced that it has been named Official Exclusive Supplier of Western Food Catering Services for the 19th Asian Games Hangzhou 2022 ("Hangzhou 2022"). Yum China and the Hangzhou Asian Games Organising Committee (HAGOC) finalized the agreement today during an official signing ceremony in Hangzhou.

Hangzhou 2022 is scheduled to run from 10-25 September 2022. As the Official Exclusive Supplier of Western Food Catering Services,Yum China will actively support promotion and brand building efforts for the Games. KFC China and Pizza Hut China will be on-site at Games competition venues to provide Western style food and refreshment for athletes and guests from around the world. Under the partnership agreement,Yum China will be permitted to use the Asian Games logos,slogans,concepts,and theme songs in its advertising and promotional activities. This latest agreement follows the Company's announcement in July 2020 that it was selected to be the Official Retail Food Services Sponsor of the Beijing 2022 Olympic Winter Games.

The official signing ceremony in Hangzhou

"We are honored to support the 19th Asian Games Hangzhou 2022 as an Official Exclusive Supplier. Yum China is committed to leveraging our online and offline network,together with our robust supply chain capabilities to serve safe and nutritious food to customers," said Joey Wat,CEO of Yum China. "Additionally,in the spirit of "Heart to Heart,@ Future",the official slogan of Hangzhou 2022,we look forward to creating an unforgettable dining experience for guests."

Mao Genhong,Deputy Secretary General of the HAGOC and Deputy Secretary General of the Hangzhou Municipal People's Government,also welcomed the new agreement. "As the recognized leader in the restaurant industry in China,Yum China has incredible catering capabilities and is highly experienced in supporting major sporting events. We believe Yum China will be able to bring a lot of value to Hangzhou 2022 and ensure the provision of high-quality food and catering services during the Games. We are working together to present a unique and high-quality event to the audiences."

Yum China actively leverages its online and offline platforms to promote healthy lifestyles and balanced and nutritious diets to consumers. Since 2004,KFC and the China Basketball Association (CBA) have jointly organized the KFC 3x3 Basketball Championship which provides an opportunity for young basketball players to showcase their skills and follow their dreams of playing in the big league. Additionally,Pizza Hut supports various international sporting events such as the 2019 Formula One Chinese Grand Prix,Shanghai Rolex Masters,and the MINI Challenge Asia Series. By being involved in these high-profile events,Yum China has accumulated rich experience in the promotion of major sporting events. The Company also has a wealth of experience providing catering services at major non-sporting events in China such as the G20 Hangzhou Summit,Summer Davos,and the China International Import Expo (CIIE).

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. In addition,Yum China has partnered with Lavazza to explore and develop the Lavazza coffee shop concept in China. The Company had 10,506 restaurants in over 1,500 cities at the end of December 2020. Yum Chinaranked # 361 on the Fortune 500 list for 2020. Yum China has been named the Industry Leader for the Restaurant & Leisure Facilities Industry in the 2020 Dow Jones Sustainability Indices. In 2021,Yum China was named to the Bloomberg Gender-Equality Index and was certified as a Top Employer 2021 in China by the Top Employers Institute,both for the third consecutive year. For more information,please visit http://ir.yumchina.com.

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