Yum China Holdings, Inc. (the "Company," stock code: 09987) disclosed recent share repurchase activities and updates to its issued share capital. Between 10 November 2025 and 12 November 2025, the Company’s total number of issued shares (excluding treasury shares) changed from 361,830,127 to 361,694,559. The changes primarily resulted from the repurchase and cancellation of 70,850 shares (at US$45.17) and 69,631 shares (at US$45.96), as well as the issuance of 4,913 new shares in connection with the Company’s long-term incentive plans.

The disclosure also lists shares that were repurchased but not yet cancelled in Hong Kong over multiple dates from September through November 2025, with transaction prices ranging generally between HK$326.78 and HK$359.53. In addition, on 12 November 2025, a total of 69,148 shares were repurchased on the New York Stock Exchange (NYSE), with prices ranging between US$46.09 and US$46.44, and 17,450 shares were repurchased on the Hong Kong market between HK$356.6 and HK$361.6.

Under a repurchase mandate granted on 23 May 2025, Yum China is authorized to repurchase up to 37,239,649 shares. As of the announcement date, 11,687,899 shares (approximately 3.14% of the issued share count as at the date of the mandate) have been repurchased. The Company confirms that these repurchases were conducted in compliance with relevant stock exchange rules and the established parameters of its repurchase agreements.