Yum China Continues its Leading Ranking in the Dow Jones Sustainability Indices

SHANGHAI,China,Nov. 18,2021 -- Yum China Holdings,Inc. (the "Company" or "Yum China",NYSE: YUMC and HKEX: 9987) has received one of the best scores out of 28 companies assessed in the Restaurant & Leisure Facilities Industry in the S&P Global Corporate Sustainability Assessment (CSA) 2021. As one of the industry top-performing companies,Yum China has been selectedas a member of both Dow Jones Sustainability Indices (DJSI): World Index (DJSI World) and Emerging Market Index (DJSI Emerging Markets) for the second consecutive year. Yum China is the only company from mainland China selected as a member of DJSI World.

Yum China received an impressive score of 75 out of 100 points,compared with an industry average of 21 points. This reflects the Company's strong performance across governance and economic,environmental and social dimensions,receiving highest scores among participating companies in the Restaurant & Leisure Facilities Industry in several areas evaluated,including Brand Management,Information Security / Cybersecurity & System Availability,Supply Chain Management,Food Loss & Waste,Packaging,Human Capital Development,and Local Impact of Business Operations.

"We are proud that Yum China has again achieved the leading ranking in our industry in the DJSI indices. It validates our ongoing efforts to make meaningful progress and continuously enhance our sustainability performance," said Joey Wat,CEO of Yum China. "Working together with all the stakeholders along our value chain,we are fully committed to contributing to a sustainable future for our planet."

The DJSI,including the DJSI World,were launched in 1999 as the pioneering series of global sustainability benchmarks available in the market. DJSI World applies a transparent,rules-based constituent selection process based on the companies' S&P Global ESG Score resulting from the annual CSA. This year,more than 10,000 publicly traded companies were invited to participate in the CSA.

"We congratulate Yum China for being included in the DJSI World & Emerging Markets. A DJSI distinction is a reflection of being a sustainability leader in your industry. The record number of companies participating in the 2021 S&P Global CSA is testament to the growing movement for ESG disclosure and transparency," said Manjit Jus,Global Head of ESG Research,S&P Global.

As China's largest restaurant company in terms of 2020 system sales,Yum China has integrated sustainability with its long-term business growth strategy. It takes a holistic approach when managing sustainability and has focused its efforts around three key pillars: Environment,Food and People. The Company strives to establish a responsible ecosystem by building sustainable restaurants,creating a sustainable supply chain with partners,and building sustainable communities with all stakeholders.

For more information on Yum China's corporate sustainability and CSR initiatives,please visit http://www.yumchina.com/respIndex.

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. We intend all forward-looking statements to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. 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," "aim," "plan," "estimate," "target," "predict," "project," "likely," "will," "continue," "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 or events 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 subsequent 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 11,415 restaurants in over 1,600 cities at the end of September 2021. Yum China ranked # 363 on the Fortune 500 list and was named to TIME100 Most Influential Companies list in 2021. Yum China has been selected as member of both Dow Jones Sustainability Indices (DJSI): World Index and Emerging Market Index. 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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