Yum China Announces 2024 Share Repurchase Programs in the U.S. and Hong Kong for

SHANGHAI, Nov. 16, 2023 /PRNewswire/ — Yum China Holdings, Inc. (the “Company” or “Yum China“) (NYSE: YUMC and HKEX: 9987) today announced that it has entered into share repurchase agreements in the U.S. and Hong Kong for an aggregate repurchase amount of US$750 million in 2024, as part of the capital allocation plan to return US$3 billion to shareholders through dividends and share repurchases from 2024 to 2026.

The share repurchase agreements include approximately US$600 million under the Rule 10b5-1 of the United States Securities Exchange Act of 1934 in the U.S. and approximately HK$1.2 billion for a similar program in Hong Kong. The Company obtained a waiver from the Hong Kong Stock Exchange, in order to allow its shareholders, regardless of the exchange on which the shares they hold are traded, equal access to the repurchase programs. The share repurchase agreements were entered into under the share repurchase authorization from the board of directors of the Company announced on November 2, 2023.

“The share repurchases programs in the U.S. and Hong Kong along with dividend payouts demonstrate our strong commitment to returning capital to our shareholders. We continue to focus on executing our RGM 2.0 strategic framework, aiming to drive growth, boost profitability and deliver shareholder value.” said Joey Wat, CEO of Yum 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 statements regarding the Company’s business strategy and capital allocation strategy. 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 “goal,” “expect,” “expectation,” “believe,” “anticipate,” “may,” “could,” “intend,” “belief,” “plan,” “estimate,” “target,” “predict,” “project,” “likely,” “will,” “continue,” “should” 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 goal for shareholder return through dividends and share repurchases. 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…

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