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2017 - s2.q4cdn.com

2 017 was a year of celebrating and achieving milestones while making solid progress in the first full year of our transformation journey. First, we celebrated our 20th anniversary as an independent company following our spin-off from pepsico in October 1997. Since the spin, Yum! has more than doubled its system sales, grown operating profit more than six times over and developed into a global powerhouse, going from 30% of restaurants outside the to nearly 60% of restaurants outside the Our exceptional results over the last 20 years are a testament to the unmatched power of our brands and the extraordinary talent which is the backbone of our , October 31 marked the one-year anniversary of our spin-off of the China business into an independent company. China s success over the past year reaffirmed our decision to separate this powerful business. Our collaboration with Yum! China is as strong as ever and we continue to be impressed with their ability to make Yum!

2017 was a year of celebrating and achieving milestones while making solid progress in the first full year of our transformation journey. First, we celebrated our 20th anniversaryYum!Brands Inc. as an independent company following our spin-off from Pepsico in October 1997. Since the spin, Yum! has more than doubled its system sales, grown

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