AppendixAppendix

Definitions

Capital Spending — Includes capital spending, excludes acquisitions of restaurants from franchisees.

China Division — Includes mainland China, Thailand and KFC Taiwan businesses.

General & Administrative (G&A) Costs — Include general & administrative costs and franchise and license expense.

International Division — Countries & territories outside the U.S., excluding China Division, but including Hawaii.

Local Currency — Represents the percentage change excluding the impact of foreign currency translation. These amounts are calculated by translating current-year results at prior-year average exchange rates. We believe elimination of the foreign currency translation impact provides better year-to-year comparability of sales trends without the distortion of foreign currency fluctuations.

Net Unit Growth – Growth in system restaurants excluding the impact of acquisitions.

Operating Margin — Represents operating profit dollars as a percentage of revenue dollars.

Reported Currency — Represents the percentage change including the impact of foreign currency translation. All fi i l b i thi d t i t d l th i t d financial numbers in this document are in reported currency unless otherwise noted.

New Restaurant Openings — Include unconsolidated affiliates (joint ventures), company-owned and franchise restaurants and exclude license restaurants.

Definitions

Special Items — Include the GAAP income statement captions of Wrench litigation, AmeriServe and other charges (credits) from 1998-2005 and the cumulative effect of accounting change in 2003, net of tax. For the years 2008 through 2010, special items also include the gain on the sale of our minority interest in our Japan unconsolidated affiliate, U.S. refranchising (gain)/loss, charges relating to U.S. General and Administrative productivity initiatives and realignment of refranchising (gain)/loss, charges relating to U.S. General and Administrative productivity initiatives and realignment of resources, as well as investments in our U.S. Brands.(The Company uses earnings before special items as a key performance measure of results of operations for purposes of evaluating performance internally. This non-GAAP measurement is not intended to replace the presentation of our financial results in accordance with GAAP. Rather, the company believes EPS before special items provides additional information to investors to facilitate the comparison of past and present operations, excluding items that the Company does not believe are indicative of our ongoing operations due to their size and/or nature.)

Same-Store-Sales Growth — The estimated growth in sales of all restaurants that have been open one year or more regardless of ownership including unconsolidated affiliates (joint ventures), company-owned, franchise and license restaurants.

S t R t t I l d lid t d ffili t (j i t t ) d f hi d li System Restaurants — Include unconsolidated affiliates (joint ventures), company-owned, franchise and license restaurants.

System-Sales Growth includes the results of all restaurants regardless of ownership including unconsolidated affiliates (joint ventures), company-owned, franchise and license restaurants. Sales of unconsolidated affiliates (joint ventures), franchise and license restaurants generate franchise and license fees for the company (typically at a rate of 4% to 6% of franchise and license restaurants generate franchise and license fees for the company (typically at a rate of 4% to 6% of sales). Unconsolidated affiliates (joint ventures), franchise and license restaurant sales are not included in company sales we present on the Condensed Consolidated Statements of Income; however, the franchise fees previously defined are included in the company’s revenues. We believe system-sales growth is useful to investors as a significant indicator of the overall strength of our business as it incorporates all our revenue drivers, company and franchise same-store sales as well as new-restaurant development.

Total Units – Include unconsolidated affiliates (joint ventures), company-owned, franchise, and license restaurants.

Traditional Restaurants — Includes unconsolidated affiliate (joint-venture), company-owned and franchise restaurants, but excludes license restaurants unless noted. (Note: all units referenced in the YRI section are Traditional Restaurants)

Two Global Brands

YRI System Restaurants By Geography

Asia36% Americas

22%

6,900+

4,800+

Europe22%

Taco Bell/Long John Silver’s/

22%Australia/

New Zealand9%Long John Silver s/

A&W500+

Note: 2007 system restaurants.

Middle East/South Africa

11%

Highly Diversified Growth Business

’02 – ’07

YRI Overview

# of Countries

% of System Sales

02 07System Sales

CAGR

Middle East/Africa 24 12% 24%

Europe 30 31% 15%Europe 30 31% 15%

Asia/Australia 21 38% 8%/

The Americas 37 19% 8%

Note: Includes foreign-currency exchange impact

Taco Bell – Key Driver ofU.S. Performance

U.S. Operating Profit2008 F

8%

1%Long John Silver’s

& 8%KFC

&A&W

59%Taco Bell

32%Pizza Hut

Bell

New Restaurant Openings

1,7071,785

1,600+

WORLDWIDE

1,264

1,4381,489 1,498 1,497 1,450

1,5541,515

,

1,078

’98 ’99 ’00 ’01 ’02 ’03 ’04 ’05 ’06 ’07 ’08 F ’09 F

– +1 +1 – +1 +1 +1 +2 +1 +2 +2 +2Net UnitGrowth %

Note: Forecast rounded to nearest five.

New Restaurant Openings

550

CHINA DIVISION

409 396

506 500+

266302 297

357

138 128167

’98 ’99 ’00 ’01 ’02 ’03 ’04 ’05 ’06 ’07 ’08 F ’09 F

+22 +15 +18 +12 +25 +17 +18 +19 +15 +17 +16 +12Net UnitGrowth %

Note: Forecast rounded to nearest five.

New Restaurant Openings

811852

895 900YRI DIVISION

762 775749

811

720780 785

527 549

’98 ’99 ’00 ’01 ’02 ’03 ’04 ’05 ’06 ’07 ’08 F ’09 F’98 ’99 ’00 ’01 ’02 ’03 ’04 ’05 ’06 ’07 ’08 F ’09 F

– +3 +5 +5 +4 +3 +3 +4 +3 +4 +4 +4Net UnitGrowth %

Note: Forecast rounded to nearest five.

New Restaurant Openings

587

509

UNITED STATES

413

509

448 447

389 373 365373 365334 349 340

200+200+

’98 ’99 ’00 ’01 ’02 ’03 ’04 ’05 ’06 ’07 ’08 F ’09 F’98 ’99 ’00 ’01 ’02 ’03 ’04 ’05 ’06 ’07 ’08 F ’09 F

(1) (1) (1) (2) (2) (1) (1) (1) (2) (1) (1) -Net UnitGrowth %

Note: Forecast rounded to nearest five.

Same-Store-Sales Growth %

WORLDWIDEWORLDWIDE

4 34 4 4 4

32

1

31

23

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3

2006 2007 2008

System-Sales-Growth %

30

CHINA DIVISION

29

2523 23

3028 28

14

19 19 18 19

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4TDQ1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4TD

2006 2007 2008

Note: Local currency basis.

System-Sales Growth %

11 11

YRI

89

8

1011 11

9 98 8

6

8 8 87

8

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 TDQ1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 TD

2006 2007 2008

Note: Local currency basis

Same-Store-Sales Growth %

UNITED STATES

5

1 1 13 2 3

21

(2) (3)

0 1 10

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4TD

2006 2007 2008

Restaurant Margin

% of Company Net Sales

WORLDWIDE

13.5

15.4 15.1 14.816.0

14.8 14.5 14.015.2

14.613.5

14.5

’98 ’99 ’00 ’01 ’02 ’03 ’04 ’05 ’06 ’07 ’08 F ’09 F

* Beginning in 2002 with the adoption of SFAS 142, goodwill amortization is no longer reflected in marginNote: Forecast rounded to nearest 50 basis points.

Restaurant Margin

% of Company Net SalesCHINA DIVISION

17.8 17 4

19.3 19.820.3

17 4

20.4 20.1

18.0 18.0

14.9

17.4

14.9

17.4

* Beginning in 2002 with the adoption of SFAS 142, goodwill amortization is no longer reflected in marginNote: Forecast rounded to nearest 50 basis points.

’98 ’99 ’00 ’01 ’02* ’03 ’04 ’05 ’06 ’07 ’08 F ’09 F

Restaurant Margin

% of Company Net SalesYRI DIVISION

12 7

13.714.3

13.4

14.2

13.0 13.012.7

12.1 12.2 12.3

11.0 11.0+

* Beginning in 2002 with the adoption of SFAS 142, goodwill amortization is no longer reflected in marginNote: Forecast rounded to nearest 50 basis points.

’98 ’99 ’00 ’01 ’02* ’03 ’04 ’05 ’06 ’07 ’08 F ’09 F

Restaurant Margin

% of Company Net SalesUNITED STATES

15.715.2 15.2

16.0

14.6 14.6

13.6 13.8 13.813.3

12.0

13.0

* Beginning in 2002 with the adoption of SFAS 142, goodwill amortization is no longer reflected in marginNote: Forecast rounded to nearest 50 basis points.

’98 ’99 ’00 ’01 ’02* ’03 ’04 ’05 ’06 ’07 ’08 F ’09 F

Operating Profit

WORLDWIDEOperating Profit

($ million)

$1 240 $1,262$1,357

$1,480$1,555

($ million)

$1,028

$1,240

$860 $891

$1,030$1,059

$1,155 $1,153

,

’98 ’99 ’00 ’01 ’02 ’03 ’04 ’05 ’06 ’07 ’08 F ’09 F

Note: Forecast rounded to nearest five.

Operating Profit

CHINA DIVISIONOperating Profit

($ million)

$460

$525-$550($ million)

$290

$375

$161

$205 $211

$ 90

$$39

$56 $63

$120

$161

$20

’98 ’99 ’00 ’01 ’02 ’03 ’04 ’05 ’06 ’07 ’08 F ’09 F

Note: Forecast rounded to nearest five.

Operating Profit

YRI DIVISIONOperating Profit

($ million) $530($ million)

$407

$480

$530$500

$243 $242 $241$280

$337$372

$186$205

$243 $242 $241

Note: Forecast rounded to nearest five. 2009 is negatively impacted due to the reallocation of $5 million of unallocated G&A reclassified as YRI G&A. 2009 is also negatively impacted by foreign currency translation of about $80 million.

’98 ’99 ’00 ’01 ’02 ’03 ’04 ’05 ’06 ’07 ’08 F ’09 F

Operating Profit

UNITED STATESOperating Profit

($ million)

$721

$808

$728$695

$802 $812$777 $760 $763

$739$685

$735

’98 ’99 ’00 ’01 ’02 ’03 ’04 ’05 ’06 ’07 ’08 F ’09 F

Note: Forecast rounded to nearest five. 2009 is negatively impacted due to the reallocation of $45 million of unallocated G&A reclassified as U.S. G&A.

Top 5 Currencies Impact OnOperating Profit

2007 Operating Profit ($MM)

Chinese Yuan ~350Chinese Yuan

British Pound

~350

~100British Pound

Australian Dollar ~75Australian Dollar

E

75

50Euro ~50

Canadian Dollar ~50

Note: Operating profit rounded to nearest $25MM

Operating Profit Margin

15.9 % of RevenueWORLDWIDE

12 813.3

12 813.2 13.0 13.0

13.5

12.1 12.112.8 12.6 12.8

12.313.0 13.0

’98 ’99 ’00 ’01 ’02* ’03 ’04 ’05 ’06 ’07 ’08 F ’09 F

Note: Forecast rounded to nearest 50 basis points. Beginning in 2002 with the adoption of SFAS 142, goodwill amortization is no longer reflected in margin.

Operating Profit Margin

% of RevenueYRI DIVISION

15.3 15.7 15.415.8

17.5 17.6

15.6

17.017.5

11.9

15.314.5

5

10.5

’98 ’99 ’00 ’01 ’02 ’03 ’04 ’05 ’06 ’07 ’08 F ’09 F

Note: Forecast rounded to nearest 50 basis points. 2009 was negatively impacted due to the reallocation of $5 million of unallocated G&A reclassified as YRI G&A.

Operating Profit Margin

% of RevenueUNITED STATES

14.1 14.4 14.415.0

14.413 5 13.6

14.213.5

15.5

11.2

13.512.8

13.6 13.5

’98 ’99 ’00 ’01 ’02 ’03 ’04 ’05 ’06 ’07 ’08 F ’09 F

Note: Forecast rounded to nearest 50 basis points. 2009 is negatively impacted due to reallocation of $45 million of unallocated G&A reclassified as U.S. G&A.

Debt & Interest Expense

Debt($ billion)

Interest Expense, Net($ million)

3 53.7

272

($ billion) ($ million)

3.5

2.5 2.52 4

3.23.4

202

176158

172 173154

166

225 220

2.22.4

2.1

1.71.9

2.3 129 127

’98 ’99 ’00 ’01 ’02 ’03 ’04 ’05 ’06 ’07 ’08 F ’09 F ’98 ’99 ’00 ’01 ’02 ’03 ’04 ’05 ’06 ’07 ’08 F ’09 F

Reported Tax Rate

Q1 Q2 Q3 Q4 Full YearQ1 Q2 Q3 Q4 Full Year

2003 32.6% 31.4% 28.8% 29.2% 30.2%

2004 31 8% 26 8% 29 4% 24 8% 27 9%2004 31.8% 26.8% 29.4% 24.8% 27.9%

2005 31.4% 23.0% 26.8% 22.7% 25.8%

2006 31 3% 29 0% 25 8% 17 2% 25 6%2006 31.3% 29.0% 25.8% 17.2% 25.6%

2007 30.6% 21.5% 25.5% 16.4% 23.7%

2008 31.6% 14.8% 21.6%

AVG 31.6% 24.4% 26.3% 22.1% 26.6%

Consistent Double-Digit EPS Growth

+13% +13%+15%

+13%+14%

+15%+13% 13% 13%

+12%+10% Target

at least10%10%

Note: Prior to special items. 2005 growth rate is also prior to the impact of expensing stock options.

’02 ’03 ’04 ’05 ’06 ’07 ’08 F ’09 F

EPS Reconciliation

’98 ’99 ’00 ’01 ’02 ’03 ’04 ’05 ’06 ’07 ’08 F

EPS before Special Items 0.72 1.03 0.91 0.81 0.91 1.03 1.18 1.27 1.46 1.68 1.89

Special Items (0.01) (0.05) (0.22) — 0.03 (0.02) 0.03 0.01 — — .03

Reported EPS 0.71 0.98 0.69 0.81 0.94 1.01 1.21 1.28 1.46 1.68 1.92

Note: EPS is adjusted for stock splits in 2002 and 2007. Starting in 2005, EPS includes options expense.The estimated impact of stock option expense on EPS is approximately $0.07 per share for periods subsequent to 2004.

Significant Share Buybacks

Share Buybacks($ million)

Average Diluted Shares(million)

20%reduction

1,4101,700

611 597564 541

490

569

1,056 983

,

’04 ’05 ’06 ’07 ’08 F’04 ’05 ’06 ’07 ’08 F

AvgPrice*

$20 $25 $25 $34 $34Price*

*Rounded and split adjusted

Dividends

On May 6th

$0.25

On May 6 ,27% increase, from $0.15 to

$0 19 h

$0.15

$0.20 $0.19 per share

Doubled

$0 05

$0.10

Initiated

15% Increase

30% Increase

$0.00

$0.05

04 05 05 06 06 07 07 08 08

Q3 '04

Q1 '05

Q3 '05

Q1 '06

Q3 '06

Q1 '07

Q3 '07

Q1 '08

Q3 '08

Note: split-adjusted (May 2007 2-for-1 stock split) quarterly dividend

Yum! 2009 Capital Plan

($ million)

China YRI U.S. Total

New Company Restaurants 240 140 75 455Restaurants 240 140 75 455

Upgrade 70 55 85 210

Brand Projects 35 40 65 140Brand Projects 35 40 65 140

SUBTOTAL 345 235 225 805

Maintenance 15 30 50 95Maintenance 15 30 50 95

Corp/Other 0 0 0 0

TOTAL 360 265 275 900TOTAL 360 265 275 900

EBITDA

Note

We do not measure cash flow from operating activities on a segment basis However we believe segment EBITDA provides a segment basis. However, we believe segment EBITDA provides a reasonable approximation of the ongoing cash generated by our segments prior to interest and income taxes and is thus useful to management and investors. Operating profit does not reflect management and investors. Operating profit does not reflect interest expense and income taxes, and on a segment basis, also does not reflect certain unallocated expenses and other gains and losses.

EBITDA

($ million)

U.S. ’03 ’04 ’05 ’06 ’07 ’08 F

Operating profit $812 $777 $760 $763 $739 $685Operating profit $812 $777 $760 $763 $739 $685

Depreciation & amortization 240 267 266 259 247 225

Impairment 15 17 44 38 23 35

EBITDA $1,067 $1,061 $1,070 $1,060 $1,009 $945

5 Year CAGR(2)%

YRI Division

Operating profit $280 $337 $372 $407 $480 $530

Depreciation & amortization 86 99 107 115 161 145

Impairment 13 19 10 15 13 10

EBITDA $379 $455 $489 $537 $654 $6855 Year CAGR

+13%

China Division

Operating profit $161 $205 $211 $290 $375 $460

Depreciation & amortization 60 69 82 95 117 160

Impairment 6 5 8 7 7 10Impairment 6 5 8 7 7 10

EBITDA $227 $279 $301 $392 $499 $630

Continued on next slide

5 Year CAGR+23%

Note: Forecast rounded to nearest five

EBITDA

Total YUM ’03 ’04 ’05 ’06 ’07 ’08 F

Operating profit $1,059 $1,155 $1,153 $1,262 $1,357 $1,480

($ million)

Depreciation & amortization 401 448 469 479 542 530

Impairment 34 41 62 60 43 55

EBITDA $1,494 $1,644 $1,684 $1,801 $1, 942 $2,0655 Year CAGR

+7%

Reconciliation to Net Income

Segment operating profit $1,253 $1,319 $1,343 $1,460 $1,594

Unallocated and corporate expenses (179) (204) (246) (229) (257)

Unallocated other income (expense) (3) (2) 9 6 9

Unallocated refranchising gain (loss) 4 12 43 24 11

Wrench litigation (expense) income (42) 14 2 - -

AmeriServe and other (charges) credits 26 16 2 1 -

Interest expense (173) (129) (127) (154) (166)

Income taxes (268) (286) (264) (284) (282)

Continued next slideNote: Forecast rounded to nearest five

( ) ( ) ( ) ( ) ( )

Cumulative effect of accounting change (1) - - - -

Net income $617 $740 $762 $824 $909

EBITDA & Capital Spending

’03 ’04 ’05 ’06 ’07

($ million)

Capital Spending

U.S. $395 $365 $333 $329 $304

International Division 135 121 96 118 189

China Division 111 118 159 165 246

Corporate 22 41 21 2 3

Total $663 $645 $609 $614 $742

S f CU.S. EBITDA after CAPEX

EBITDA $1,067 $1,061 $1,070 $1,060 $1,009

Capital Spending 395 365 333 329 304

EBITDA after CAPEX $672 $696 $737 $731 $705EBITDA after CAPEX $672 $696 $737 $731 $705

YRI EBITDA after CAPEX

EBITDA $379 $455 $489 $537 $654

Capital Spending 135 121 96 118 189 Capital Spending 135 121 96 118 189

EBITDA after CAPEX $244 $334 $393 $419 $465

Continued on next slideNote: Forecast rounded to nearest five

EBITDA & Capital Spending

($ million)

’03 ’04 ’05 ’06 ’07

China EBITDA after CAPEX

EBITDA $227 $279 $301 $392 $499EBITDA $227 $279 $301 $392 $499

Capital Spending 111 118 159 165 246

EBITDA after CAPEX $116 $161 $142 $227 $253

YUM EBITDA after CAPEX

EBITDA $1,494 $1,644 $1,684 $1,801 $1,942

Capital Spending 663 645 609 614 742

EBITDA after CAPEX $831 $999 $1 075 $1 187 $1 200 EBITDA after CAPEX $831 $999 $1,075 $1,187 $1,200

Note: Forecast rounded to nearest five

Yum! Return on Invested Capital (ROIC)

($ million, except percentages)

’03 ’04 ’054 ’06 ’07

Operating Profit 1,059 1,155 1,153 1,262 1,357

Closure & Impairment Charges/(Credits) 40 38 62 59 35

Refranchising Net Loss/(Gain) (4) (16) (43) (24) (11)

Implicit Lease Interest Expense 139 155 164 196 227Implicit Lease Interest Expense 139 155 164 196 227

External Interest Income 12 16 20 18 30

Total ROIC Income Pretax 1,262 1,322 1,356 1,511 1,638

ROIC Income after Tax 880 957 1,007 1,123 1,252

Net Asset Base1,5 3,186 3,337 3,309 3,657 3,812

PV of Operating Leases 1,538 1,570 1,706 2,209 2,3332Closure & Impairment Charges/(Credits) Since 19972 483 515 567 611 635

Total 5,207 5,422 5,582 6,477 6,780

ROIC Net Asset Base3 4,967 5,315 5,502 6,029 6,628

ROIC 17.7% 18.0% 18.3% 18.6% 18.9%1T l l li bili i ( l di d b / l ) d h li bili i d d f d di1Total assets less current liabilities (excluding debt/cap leases) and other liabilities and deferred credits2Closure and impairment charges adjusted down for impairment on refranchised stores.3Average net asset base for current and prior year4 Includes impact of stock option expense under SFAS 123R, “Share-Based Payment” and 53rd Week5 Asset balances adjusted for excess cash to reflect average operating cash needs

U.S. Taco Bell

U.S. Pizza Hut/Wingstreet

U.S. KFC

YRI

Pizza Hut UK KFC Dubai

Pizza Hut Taiwan KFC Europe

China

Yum! Investor Relations Contacts

Tim Jerzyk . . . . . . . . . . . . . . . . . . . . . . SVP Investor Relations/Treasurertim.jerzyk@yum.com

Bruce Bishop . . . . . . . . . . . . . . . . . . . . Director, Investor Relationsbruce.bishop@yum.com

Ben Dunham . . . . . . . . . . . . . . . . . . . . Manager, Investor RelationsBen Dunham . . . . . . . . . . . . . . . . . . . . Manager, Investor Relationsbenjamin.dunham@yum.com

Ben Golden . . . . . . . . . . . . . . . . . . . . . Shareholder Coordinatorben.golden@yum.comben.golden@yum.com

Aidita Bartolomei . . . . . . . . . . . . . . . . . Institutional Investor Coordinatoraidita.bartolomei@yum.com

Siena Crabtree . . . . . . . . . . . . . . . . . . Executive Assistantsiena.crabtree@yum.com

Janet duPont . . . . . . . . . . . . . . . . . . . Executive AssistantJanet duPont . . . . . . . . . . . . . . . . . . . Executive Assistantjanet.dupont@yum.com

www.yum.com/investor888/298-6986