Yum China Ranked Among the Top 100 Companies Globally for Gender Equality by Equileap

SHANGHAI,March 8,2022 -- Yum China Holdings,Inc. (the "Company" or "Yum China",NYSE: YUMC and HKEX: 9987) today announced it has been ranked among the leading companies worldwide in the 2022 edition of Equileap's Top 100 Gender Equality Global Ranking. Yum China is the only company from China named to the list this year. Notably,Yum China was also recognized among 19 companies globally with no gender pay gap.

Equileap is the leading organization providing data and insights on gender equality in the corporate sector.This year's rankingis based on the in-depth analysis of 3,895 publicly listed companies,representing 102 million employees globally. Companies are researched on 19 gender equality criteria including gender balance from the board to the workforce,as well as the pay gap and policies relating to parental leave and sexual harassment.

"We are proud to be recognized by Equileap as one of the leading companies worldwide for gender equity. This reflects our longstanding commitment to promoting equal opportunities in the workplace," said Joey Wat,CEO of Yum China. "At Yum China,we believe that bringing together people from different backgrounds creates significant value,and we are committed to achieving gender equity at all levels of the company."

Yum China is at the forefront of promoting gender equality in the restaurant industry. By the end of the 2021 fiscal year,Yum China employed over 290,000 women,representing 65% of the Company's total workforce. Meanwhile,53% of Senior Management level positions were held by women and the Company continues to make progress in nurturing talented leaders across all management levels.

In addition to the Equileap global ranking,Yum China was recently named to the Bloomberg Gender-Equality Index (GEI) for the fourth consecutive year. Yum China is also a signatory of the United Nations Women's Empowerment Principles (WEPs) and is committed to its principle of non-discrimination in the workplace.

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 11,788 restaurants in over 1,600 cities at the end of December 2021.

In 2021,Yum China ranked # 363 on the Fortune 500 list and was named to TIME100 Most Influential Companies list. Yum China has also been selected as member of both Dow Jones Sustainability Indices (DJSI): World Index and Emerging Market Index. In 2022,the Company was named to the Bloomberg Gender-Equality Index and was certified as a Top Employer 2022 in China by the Top Employers Institute,both for the fourth consecutive year. For more information,please visit http://ir.yumchina.com.

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