Our Brands Yum China Holdings, Inc. operates China’s leading restaurant concepts, including KFC and Pizza Hut brands, as well as emerging brands including Taco Bell, Little Sheep, Huang Ji Huang and Shaofaner. The Company also partners with Lavazza to explore and develop the Lavazza coffee shop concept in China. These brands are integrated into local popular culture and our customers' daily lives. Our vision is to be the world's most innovative pioneer in the restaurant industry. We launched around 500 new and upgraded products in 2022 and will continue to delight and surprise customers with innovative products. Yum China has also been investing in innovations and technologies. As of the end of December 2022, we had over 410 million members. Aside from customer-facing digital initiatives, we are using technology to enable our operations to be efficient, nimble and flexible. We have also seized the growing trends in delivery and takeaways, enabled by our suitable menu, hybrid delivery model as well as our store network. KFC KFC is the leading and the largest quick service restaurant (QSR) brand in China in terms of 2021 system sales. KFC opened its first restaurant in Beijing in 1987. As of the end of December 2022, we have grown to over 9,000 KFC restaurants in over 1,800 cities across China. We are passionate about bringing the fantastic taste of KFC to as many people as possible in China. In addition to our Original Recipe Chicken and other chicken products, we have an extensive menu featuring beef burgers, pork, seafood, rice dishes, congees, fresh vegetables, desserts, coffee, tea and many other products. To learn more about KFC in China, please visit www.kfc.com.cn Pizza Hut Pizza Hut is the leading and the largest casual dining restaurant (CDR) brand in China in terms of 2021 system sales and number of restaurants as of December 31, 2021. The first Pizza Hut restaurant in China opened in Beijing in 1990. As of the end of December 2022, we have opened over 2,900 Pizza Hut restaurants in over 600 cities. We are extremely proud of our heritage as the first restaurant chain to introduce pizza and Western-style casual dining to China. Pizza Hut’s revitalization program has been successful; we repositioned it as a family-friendly, modern and value-for-money casual dining concept. We offer a broad variety of pizzas, steaks, pasta, rice dishes and other entrees, appetizers, beverages and desserts with multiple dayparts including breakfast, lunch and afternoon tea for customers across China. To learn more about Pizza Hut in China, please visit www.pizzahut.com.cn Taco Bell Taco Bell is the world’s leading western QSR brand specializing in Mexican-style food, including tacos, burritos, quesadillas, salads, nachos and similar items. The first Taco Bell restaurant in China opened in Shanghai in December 2016. As of the end of December 2022, Taco Bell has expanded to 91 units in China. We have continued to develop and refine its menu to satisfy evolving customer preferences in China. Little Sheep Little Sheep is a well-known hot pot restaurant in China. Originally established in Inner Mongolia in 1999, Little Sheep had around 180 units in both China and international markets as of the end of December 2022. To learn more about Little Sheep, please visit www.littlesheep.com Huang Ji Huang Huang Ji Huang is a leading Chinese-style casual dining franchise restaurant brand, celebrated as the pioneer in the simmer pot category. Founded in 2004 and headquartered in Beijing, Huang Ji Huang had around 590 restaurants in China and internationally as of the end of December 2022. To learn more about Huang Ji Huang, please visit www.huangjihuang.com Lavazza Established in 1895 in Turin, Italy, by Luigi Lavazza, Lavazza is a world-renowned coffee brand. In early 2020, Yum China and Lavazza Group formed a joint venture to explore and develop the Lavazza coffee shop concept in China. The first Lavazza flagship store in Shanghai, the first store outside of Italy, opened its doors to customers in April 2020. Customers appreciate the premium coffee and authentic Italian foods, as well as the store’s unique and iconic Italian style setting. As of the end of December 2022, Lavazza had expanded to 85 stores in China. To learn more about Lavazza in China, please visit https://www.lavazza.cn/zh_CN.html Shaofaner Shaofaner is a new retail brand developed by Yum China in 2018, which offers ready meals such as steak, fried rice and pasta through online and offline channels. Catering to the ever-increasing demand for at-home consumption, Shaofaner enables customers to cook with ease and convenience.