Director Retainers in the Form of Equity Awards

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited (the “Hong Kong StockExchange”) take no responsibility for the contents of this announcement make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.Yum China Holdings Inc.百胜中国控股有限公司 (Incorporated in the State of Delaware of the United States of America) (Stock Code: 9987) DIRECTOR RETAINERS IN THE FORM OF EQUITY AWARDS Yum China Holdings Inc. (the “Company”) hereby announces that on June 1 2024 (United States time the “Grant Date”) the Company granted certain shares of common stock of the Company (the “Shares”) under the Yum China Holdings Inc. 2022 Long Term Incentive Plan (the “2022LTIP”) to the non-employee directors of the Company as the annual retainers for their services from June 1 2024 to May 31 2025.Our non-employee directors were each compensated with an annual retainer payable in Shares or if requested by a director up to one-half in cash. The table below summarizes stock retainers granted to each non-employee director on the Grant Date.Name of Non-Employee Director Number of Shares Granted Fred Hu 8808 Robert B. Aiken(1) 9088 Peter A. Bassi(1) 5662 Edouard Ettedgui(1) 9717 David Hoffmann(1) 9298 Ruby Lu(1) 9437 Zili Shao(1) 5453 William Wang(1) 9158 Min (Jenny) Zhang(1) (2) 4009 Christina Xiaojing Zhu(1) 4684 Total 75314 (1) Number of shares granted also included additional annual stock retainers for serving as chairpersons and/or members of the committees of the board of directors of the Company (the “Board”). (2) Number of shares granted net of tax liabilities associated with stock retainer. 1The following information is also provided pursuant to Chapter 17 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited: Vesting period and conditions: Pursuant to Section 4.6 of the 2022 LTIP awards granted under the 2022 LTIP (other than cash-based awards) shall vest no earlier than the first anniversary of the date on which the award is granted; provided that certain awards among others in respect of up to a maximum of five percent (5%) of the scheme mandate limit as set out in the 2022 LTIP may not be subject to the foregoing minimum vesting requirement including Shares subject to a minimum holding period of 12 months (including Shares delivered to a non-employee director in respect of such non-employee director’s annual retainer). Pursuant to our share retention policy for directors no director may sell any Shares received as director compensation until at least 12 months following the director’s retirement or departure from the Board.As the Shares granted represent the annual retainers of the non- employee directors there were no performance targets attached to such grant. Pursuant to the terms of the 2022 LTIP any awards and Shares issued pursuant to such plan shall be subject to the Company’s clawback and other compensation recovery policies as in effect from time to time. The Company’s current clawback and compensation recovery policies do not apply to non-employee director compensation.The compensation committee of the Board considers the granting of Shares to non-employee directors in respect of their annual retainers to be aligned with the purposes and terms of the 2022 LTIP. Closing price of the Shares on US$35.76 per Share for Shares traded on the New York Stock the Grant Date: Exchange on May 31 2024 (United States time) being the trading day on the New York Stock Exchange immediately preceding the Grant Date; HK$270.80 per Share for Shares traded on the Hong Kong Stock Exchange on May 31 2024 (Hong Kong time) being the trading day on the Hong Kong Stock Exchange immediately preceding the Grant Date.Shares available for future grant: As of the Grant Date 27200264 Shares remained available for future grants under the 2022 LTIP in accordance with the terms of the 2022 LTIP. 2By order of the Board Yum China Holdings Inc.Joey WAT Director and Chief Executive Officer Hong Kong June 5 2024 As of the date of this announcement the board of directors of the Company comprises Dr. Fred HU as the chairman and an independent director Ms. Joey WAT and Mr. Robert B. AIKEN as directors and Mr. Peter A. BASSI Mr. Edouard ETTEDGUI Mr. David HOFFMANN Ms. Ruby LU Mr. Zili SHAO Mr. William WANG Ms. Min (Jenny) ZHANG and Ms. Christina Xiaojing ZHU as independent directors. 3