Yum China Chief Legal Officer Pingping Liu Reports Disposal of $251,743.66 in Common Shares

• Yum China Chief Legal Officer Pingping Liu exercised 7,452 Stock Appreciation Rights at $26.56 on Nov. 5, 2026.
• Liu sold 1,062 common shares at $50.645 per share.
• A separate disposal involved 3,913 common shares at $50.59 per share.
• Direct beneficial ownership totaled 18,660 common shares following the transactions, according to the Form 4 filed Nov. 9, 2026.

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