SHANGHAI,Oct. 16,2024 -- Yum China Holdings,Inc. (NYSE: YUMC and HKEX: 9987,the "Company" or "Yum China") is thrilled to celebrate the victory of Jannik Sinner,global ambassador for Lavazza,at the Rolex Shanghai Masters.

Lavazza,a renowned family-owned Italian coffee company,entered into a joint venture with Yum China in early 2020 to develop the Lavazza coffee concept in China. The joint venture had opened over 100 Lavazza stores across the country since then,bringing premium Italian coffee experiences to Chinese consumers.

During the Rolex Shanghai Masters,the joint venture rolled out a series of marketing initiatives to elevate Lavazza's brand presence. As a prestige sponsor of the tournament,Lavazza introduced a limited-edition "LAVAZZA Shakerato" drink featuring Jannik Sinner,available exclusively in China. Fans were also treated to special accessories,such as tennis balls signed by Sinner and custom-designed Lavazza coffee cups,reflecting Lavazza's deep-rooted connection with tennis. Lavazza set up four booths at the Qizhong Tennis Center,where the Rolex Shanghai Masters took place,offering special meal sets for attendees and enhancing the overall event experience.

In addition to its partnership with Lavazza,Yum China is also proud to have Pizza Hut involved in the Rolex Shanghai Masters. Pizza Hut provided a variety of signature dishes to enhance the fan experience during the event,further solidifying Yum China's presence at one of the most important tennis events in the region.

The Rolex Shanghai Masters,an ATP Tour Masters 1000 event,draws top tennis players from around the world. Yum China is honored to be part of this prestigious event and is committed to providing exceptional service and culinary experience to audience across China.

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,including under "2024 Outlook." 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," "plan," "estimate," "target," "predict," "project," "likely," "will," "continue," "should," "forecast," "outlook," "commit" 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 include,without limitation,statements regarding the future strategies,growth,business plans,investments,store openings,capital expenditures,dividend and share repurchase plans,CAGR for system sales,operating profit and EPS,earnings,performance and returns ofYum China,anticipated effects of population and macroeconomic trends,pace of recovery ofYum China'sbusiness,the anticipated effects of our innovation,digital and delivery capabilities and investments on growth and beliefs regarding the long-term drivers ofYum China'sbusiness. 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. Numerous factors could cause our actual results or events to differ materially from those expressed or implied by forward-looking statements,including,without limitation: whether we are able to achieve development goals at the times and in the amounts currently anticipated,if at all,the success of our marketing campaigns and product innovation,our ability to maintain food safety and quality control systems,changes in public health conditions,our ability to control costs and expenses,including tax costs,as well as changes in political,economic and regulatory conditions inChina,and those set forth under the caption "Risk Factors" in our Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q). In addition,other risks and uncertainties not presently known to us or that we currently believe to be immaterial could affect the accuracy of any such forward-looking statements. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. You should consult our filings with theSecurities and Exchange Commission(including the information set forth under the caption "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.

AboutYum China Holdings,Inc.

Yum Chinais the largest restaurant company inChinawith a mission to make every life taste beautiful. The Company has approximately 400,000 employees and operates over 15,000 restaurants under six brands across more than 2,100 cities inChina.KFCandPizza Hutare the leading brands in the quick-service and casual dining restaurant spaces inChina,respectively. In addition,Yum Chinahas partnered with Lavazza to develop the Lavazza coffee concept inChina. Little Sheep andHuang Ji Huangspecialize in Chinese cuisine. Taco Bell offers innovative Mexican-inspired food.Yum Chinahas a world-class,digitalized supply chain,which includes an extensive network of logistics centers nationwide and an in-house supply chain management system. Its strong digital capabilities and loyalty program enable the Company to reach customers faster and serve them better.Yum Chinais a Fortune 500 company with the vision to be the world's most innovative pioneer in the restaurant industry. For more information,please visithttp://ir.yumchina.com.