A Message from David Gibbs

Everything we do at Yum! is in service of our mission to grow iconic restaurant brands around the world that are loved by our consumers, connected through teamwork, technology and our global scale, and trusted everywhere we operate. Our Recipe for Good Growth strategy is built on the belief that lasting growth and brand relevance come from being inclusive, sustainable and responsive to the evolving needs of employees, franchisees and stakeholders.

Our ongoing commitment to fostering a sustainable and adaptable business has been instrumental in navigating the complexities of today’s global landscape such as the dynamic geopolitical environment, changing regulations and inflation. Over the past year, we’ve diligently advanced our initiatives across the pillars of People, Food and Planet, capitalizing on the extensive reach of our business.

Reflecting on the highlights of 2024, I am pleased with the progress we have made in several areas, including:

• People – We have focused on attracting, developing and retaining our employees. Through learning and development programs, we invest in the communities where we operate, ensuring our people are equipped with the skills and support they need to thrive and grow with our business.
• Food – Food safety remains our utmost priority. We also remain committed to serving delicious food, offering balanced choices and maintaining clean labels for our consumers.
• Planet – We are dedicated to managing our environmental impact by investing in energy efficiency and alternative power sources, such as solar. Additionally, we are working to make our sourcing more responsible within key supply chains including beef, dairy and poultry.

Importantly, I am immensely proud of the work our employees are doing to integrate these initiatives into the areas where they drive the most value and have the greatest impact on our business. Making progress also requires collaboration outside of our organization, with our franchisees, suppliers and community partners.

As we look to the future, I am excited about the possibilities that lie ahead. Together, we will continue to make a positive impact on the world through our dedication to building a more resilient and sustainable business.

Sincerely,