Yum China Holdings, Inc.

• Returned $274 million to shareholders in the second quarter through $184 million in share repurchases and $90 million in cash dividends .

SEC original ↗Yum China Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

• In the first half of 2025, the Company returned $536 million in capital to shareholders through $356 million in share repurchases and $180 million in cash dividends.

SEC original ↗Yum China Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

Including the previously announced $510 million share repurchase agreements for the second half of 2025 and assuming a quarterly dividend of $0.24 per share, the Company expects the total return of capital for 2025 to be at least $1.2 billion.

SEC original ↗Yum China Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

• As of June 30, 2025, approximately $936 million remained available for future share repurchases under the current authorization program.

SEC original ↗Yum China Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

• The Board declared a cash dividend of $0.24 per share on Yum China’s common stock, payable on September 23, 2025 to shareholders of record as of the close of business on September 2, 2025.

SEC original ↗Yum China Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

o Capital expenditures in the range of approximately $600 million to $700 million for the 2025 fiscal year, revised down from the initial target of $700 million to $800 million, mainly due to lower capital expenditures per store.

SEC original ↗Yum China Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

• OP margin was 10.9%, an increase of 100 basis points YoY and also record high for the second quarter, supported by restaurant margin expansion and G&A savings.

SEC original ↗Yum China Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

Our dual focus on innovation and operational efficiency enabled us to deliver compelling value and experiences to our customers.

SEC original ↗Yum China Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

At the same time, we are reinforcing our strategic moat via our membership programs and Super Apps, and enhancing the in-store experience, while capturing additional traffic on delivery platforms.

SEC original ↗Yum China Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

With the strength of our brands and our strategies, we are confident in delivering sustainable, long-term value for our shareholders.

SEC original ↗Yum China Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

Ticket average was 13% lower YoY, consistent with our strategy and driven mainly by better value-for-money.

SEC original ↗Yum China Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

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.

SEC original ↗Yum China Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

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.

SEC original ↗Yum China Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

All forward-looking statements should be evaluated with the understanding of their inherent uncertainty.

SEC original ↗Yum China Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

Other Information Item 1 Legal Proceedings 46 Item 1A Risk Factors 46 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 46 Item 5 Other Information 46 Item 6 Exhibits 47 Signatures 48 PART I FINANCI AL INFORMATION Item 1.

SEC original ↗Yum China Holdings, Inc. — 10-Q Quarterly report10-QAug 10, 2026