Page 1

Yum ! 191 KFC TACO BELL Pizza HUT Häbit BURGER GRILL NEWS Jodi Dyer Vice President , Investor Relations and CFO , Digital & Technology Yum ! Brands Reports Second - Quarter Results ; Record 603 Net - New Units ; Digital System Sales of Over $ 5 Billion ; Same - Store Sales Growth of 23 % ; Reinstates Long - Term Growth Algorithm with Raised Unit Guidance Louisville , KY ( July 29 , 2021 ) - Yum ! Brands , Inc. ( NYSE : YUM ) today reported results for the second - quarter ended June 30 , 2021 . Worldwide system sales excluding foreign currency translation grew 26 % , with 23 % same - store sales and 2 % unit growth . Second - quarter GAAP EPS was $ 1.29 , an increase of 91 % over the prior year quarter . Second - quarter EPS excluding Special Items was $ 1.16 , an increase of 41 % over the prior year quarter . DAVID GIBBS COMMENTS David Gibbs , CEO , said " Our strong second - quarter results , led by record unit development and 23 % same - store sales growth are a testament to our iconic brands , world - class talent , and best - in - class franchisees . I'm proud that each of our divisions reported positive same - store sales growth on a 2 - year basis , a step up from first - quarter trends . This sustained momentum was underpinned by our investments in digital and off premise and the agility of our brands to meet the needs of consumers in an ever - changing environment . I'm thrilled to say that unit development has accelerated driven by strong unit - level economics . On the basis of these strong results , we're reinstating our long - term growth algorithm and revising the unit growth component of this algorithm from 4 % unit growth to between 4 % and 5 % unit growth . The resilience of our diversified global business positions us perfectly to drive growth and maximize value creation for all our stakeholders for years to come . " KFC Division Pizza Hut Division Taco Bell Division Worldwide SECOND - QUARTER HIGHLIGHTS Worldwide system sales excluding foreign currency translation grew 26 % , with KFC at 35 % , Taco Bell at 24 % and Pizza Hut at 10 % . We reported 2 % unit growth year - over - year and record second - quarter net new unit growth of 603 . Foreign currency translation favorably impacted divisional operating profit by $ 27 million . % Change Units +5 ( 3 ) +2 +2 System Sales Ex F / X +35 +10 +24 +26 Same - Store Sales +30 +10 +21 +23 2021 $ 1.29 $ 0.13 $ 1.16 Second - Quarter 2020 $ 0.67 $ ( 0.15 ) $ 0.82 % Change +91 NM +41 GAAP Operating Profit +108 +18 +29 +89 2021 $ 2.35 $ 0.13 $ 2.22 Core Operating Profit¹ Year - to - Date 2020 GAAP EPS Special Items EPS¹ EPS Excluding Special Items See reconciliation of Non - GAAP Measurements to GAAP Results within this release for further detail of Core Operating Profit and Special Items . $ 0.94 $ ( 0.52 ) $ 1.46 +93 +14 +29 +53 % Change +150 NM +52 All comparisons are versus the same period a year ago . System sales growth figures exclude foreign currency translation ( " F / X " ) and core operating profit growth figures exclude F / X and Special Items . Special Items are not allocated to any segment and therefore only impact worldwide GAAP results . See reconciliation of Non - GAAP Measurements to GAAP Results within this release for further details . Digital system sales includes all transactions where consumers at system restaurants utilize ordering interaction that is primarily facilitated by automated technology . Yum ! Brands , Inc. 1900 Colonel Sanders Lane Louisville , KY 40213 P : 502 874-8300 • investors.yum.com