Yum Brands : Jan 26, 2018 – Yum! Brands, Inc. Announces 20% Increase in Quarterly Dividend to $0.36 Per Share

Keith Siegner

Vice President, Investor Relations, Corporate Strategy and Treasurer

YUM! BRANDS, INC. ANNOUNCES 20% INCREASE IN QUARTERLY

DIVIDEND TO $0.36 PER SHARE

LOUISVILLE, KY - January 26, 2018 - Yum! Brands, Inc. (NYSE: YUM) Board of Directors approved a 20% increase in the company's quarterly dividend. The quarterly cash dividend will increase from $0.30 to $0.36 per share of common stock and will be distributed March 9, 2018 to shareholders of record at the close of business on February 14, 2018.

Yum! Brands, Inc., based in Louisville, Kentucky, has over 44,000 restaurants in more than 135 countries and territories and is one of the Aon Hewitt Top Companies for Leaders in North America. In 2018, Yum! Brands was recognized as part of the inaugural Bloomberg Gender-Equality Index. In 2017, Yum! Brands was named to the Dow Jones Sustainability North America Index and ranked among the top 100 Best Corporate Citizens by Corporate Responsibility Magazine. The company's restaurant brands - KFC, Pizza Hut and Taco Bell - are the global leaders of the chicken, pizza and Mexican-style food categories. Worldwide, the Yum! Brands system opens over six new restaurants per day on average, making it a leader in global retail development.

Analysts are invited to contact:

Keith Siegner, Vice President, Investor Relations, Corporate Strategy and Treasurer, at 888/298-6986 Kelly Knybel, Director, Investor Relations, at 888/298-6986

Members of the media are invited to contact:

Virginia Ferguson, Director, Public Relations, at 502/874-8200

Yum! Brands, Inc. • 1900 Colonel Sanders Lane • Louisville, KY 40213

P: 502.874.8300 •www.yum.com/investors