Jeff Kuai

Pizza Hut



ESILIENCE

OAT?D0







Key Take-Aways

No.1 WCDR Brand, Accelerate Growth



Vast Untapped Market Potential



Ambitious Strategy for the Future



1



4,000thStore in Sanya

2



No.1 Western Casual Dining Restaurant in China1And Accelerate Growth

Sustained Transaction Growth Improved Profitability

+17%

11

Consecutive Quarters

+90bps

(13.7%)

+16%

(~$163mn)


Same-Store Transaction Count (TC) 2025 Q3YTD vs. 2024 Q3YTD

with Positive Same Store TC

Restaurant Margin 2025 Q3YTD vs. 2024 Q3YTD

Operating Profit

2025 Q3YTD vs. 2024 Q3YTD

1. Largest western casual dining restaurant in China in terms of 2024 system sales & store count, Frost & Sullivan 3



Navigate Through Cycles With Strong Team and Trustworthy Brand

Team Brand

Pizza Hut

The Favorite Western Casual Dining Restaurant Brand in China1

1. PH Brand Image Survey, 2025 Q3 4





Leading Position in Multiple Categories1

Pizza

>190mn Units Sold2

>70mn Units Sold2

Pasta

>30mn Units Sold2

Steak

1. Frost & Sullivan, Zhaimen 2. From 2024Q4 to 2025Q3 5







Strong Capabilities in Omni-Channels and Digital

Channel Expansion Digital Capability

Off-premise Sales Mix

Member Count Member Sales Mix

200mn+

~3X

65mn+



~58%

+13pt

~45%



~53%

+24pt

~29%



2025

Q3YTD

2019 - 2025

Q3YTD Growth

2019

Q3YTD

6





Vast Untapped Market Potential In Both Pizza and Burger Sectors Burger Category: Huge Potential Ahead


Pizza Category: Robust Growth Momentum

China Pizza Restaurant Market1(RMB bn) Pizza and Burger 2025E Addressable Market2(RMB bn)

+10%

68

60

64

+5%

55

50

40 43

33

34

30

33

4X+

234

50



19 20 21 22 23 24 25E 26E 27E 28E 29E Pizza Burger

1. Euromonitor; 2. Hongcan 7





Broaden Coverage Across Price Ranges, Cities, Occasions, And Customers More Cities


Broader Price Tiers

Dine-in Order Distribution by Per Person Spending on Meituan1

>90 RMB

(1%)

60~90 RMB

Number of Cities & Towns2

(1%)

30~60 RMB (11%)

PH in 2019 PH in 2024

<30 RMB

(88%)

Cities with PH Cities with KFC

4,500+

1,500+

~1000



But No PH

YUMC Presence by 2030

More Occasions More Customers


Solo Dining Market 800bn RMB3

Single-Person Household 58mn → 125mn4

(6thCensus) (7thCensus)

Youth

Value-conscious Groups

1. 2024 Snacks & Fast Food Per Person Spending by Meituan; 2. by YUMC definition 3. China IRN, in 2024; 4. National Bureau of Statistics, China's 6thand 7thPopulation Census 8



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Yum China Holdings Inc. published this content on November 17, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on November 17, 2025 at 03:17 UTC.