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Regulation FD

Yum! Brands, Inc. Releases Estimated October

Same-Store Sales for China Division

- Yum! Brands, Inc.s (NYSE: YUM) China Divisions October same-store sales grew an estimated 5%, comparable to the Divisions same-store sales growth of 6% in September. Octobers results include estimated growth of 10% at KFC and an estimated decline of 9% at Pizza Hut Casual Dining.

We are reiterating our guidance for the fourth quarter of China Division same-store sales growth of 0% to 4%, with positive same-store sales growth at KFC and negative same-store sales at Pizza Hut Casual Dining. As previously stated, same-store sales remain difficult to forecast in China, and our overlaps become more difficult for the balance of year.

As a reminder, our fourth q uarter for the China Division includes the months of September, October, November and December. We will release November same-store sales for the China Division in conjunction with our Annual Investor Conference.

Yum! BrandsAnnual Investor Conference will be held onThursday, December 10, 2015 from 8:45 a.m. to 2:00 p.m. CT in Plano, Texas. This meeting will be webcast live and a replay of this webcast will be available following the event. The webcast and presentations will be available online through the Yum! Brands Investor Relations website at

http://www.yum.com/investors

.

ADDITIONAL INFORMATION ONLINE

Definitions of terms are available online at www.yum.com under Investors.

Yum! Brands, Inc., based in Louisville, Kentucky, has over 41,000 restaurants in more than 125 countries and territories. Yum! is ranked #228 on the Fortune 500 List with revenues of over $13 billion in 2014 and is one of the Aon Hewitt Top Companies for Leaders in North America. The Company's restaurant brands - KFC, Pizza Hut and Taco Bell - are the...


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