Yum China Shows Appreciation to Medical Workers on International Labor Day

SHANGHAI,May 1,2022 -- Yum China Holdings,Inc. (the "Company" or "Yum China",NYSE: YUMC and HKEX: 9987) today announced at a special event in Shanghai a series of corporate citizenship initiatives under the theme of "Million Thanks,Million Gifts" to express gratitude to medical workers nationwide that have supported the COVID-19 response in Shanghai.

“Million Thanks,Million Gifts”

As the largest restaurant company in China,Yum China is committed to leveraging its scale and expertise to support communities in Shanghai and across the country. On May 1st,to honor International Labor Day,Yum China contributed,out of its limited supply,hundreds of free meals,including fried chicken,pizza,sandwiches and coffee to medical workers in four makeshift hospitals in Shanghai. In addition,as a token of appreciation for their selfless service,the Company has prepared over 30,000 care packages to be distributed to medical workers nationwide when they return to their home from Shanghai. The packages include ready meal products such as fried rice,steak,and beef patty from KFC and Pizza Hut's packaged food selections.

Yum China employee volunteers sent hot and delicious meals to medical workers in makeshift hospitals in Shanghai on International Labor Day

"As we are facing unprecedented challenges from the most severe outbreak since early 2020,we are extremely grateful for the tireless efforts of medical workers and volunteers during this difficult time. We hope that our convenient and delicious food can bring them some additional comfort." said Joey Wat,CEO of Yum China. "In addition to supporting medical workers,Yum China's volunteers come together across brands and functions to continue serving communities in need. Their tremendous efforts embody our mission to serve the communities we operate in."

Yum China was one of the first authorized essential service suppliers to serve communities during the latest outbreak in Shanghai. The Company's brands have been supplying food and drinks to medical workers and volunteers. Notably,despite limited restaurant service capacity,since early April KFC has provided over 3,000 breakfasts every day to frontline medical workers and Lavazza has also been providing coffee and sandwiches to frontline medical workers. Meanwhile,as part of Yum China's efforts to care for the community,the Company has collaborated with charity foundations and NGOs to provide 7,000 elderly people living alone with sufficient ready meal products to last several days. KFC has also donated children's books to quarantine centers.

"On International Labor Day,we would like to express our heartfelt gratitude and appreciation to all medical workers from several regions across China supporting Shanghai during these difficult times," said Alice Wang,Chief Public Affairs Officer of Yum China,who oversaw the event. "We are humbled by their sacrifices,dedication,and unwavering efforts throughout the pandemic. We hope they and their families can enjoy these packages together when they return home."

Since entering China 35 years ago,Yum China has been actively fulfilling its corporate social responsibilities,including serving and supporting communities. Since COVID-19 first emerged in early 2020,Yum China's employee volunteers have been active in supporting communities,delivering over a million free meals to communities across the country.

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," "ambition" "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) 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 12,163 restaurants in over 1,600 cities at the end of February 2022.

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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