Analyst Coverage Firm Analyst Bank of America Merrill Lynch Chen Luo Bernstein Sara H. Senatore BOCI Jack Chen CCB Kevin Sun CICC Sijie Lin Citi Xiaopo Wei CLSA Terrance Liu Daiwa Anson Chan/Adrian Chan DBS Alison Fok Goldman Sachs Michelle Cheng Haitong Nicolas Wang HSBC Lina Yan Huatai Rena Ma J.P. Morgan Kevin Yin Jefferies Anne Ling Macquarie Linda Huang Morgan Stanley Lillian Lou Morningstar R. J. Hottovy Nomura Sandy Shao Oppenheimer Brian Bittner SWS Lewen Liu UBS Christine Peng Yum China Holdings, Inc. is followed by the analysts listed above. Please note that any opinions, estimates or forecasts regarding Yum China Holdings, Inc.'s performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of Yum China Holdings, Inc. or its management. Yum China Holdings, Inc. does not by its reference above or distribution imply its endorsement of or concurrence with such information, conclusions or recommendations.