FRANCHISE DISCLOSURE DOCUMENT KFC US, LLC A Delaware Limited Liability .

(ii) The fact that the proposed transferee is a competitor of the franchisor or subfranchisor. (iii) The unwillingness of the proposed transferee to agree in writing to comply with all lawful obligations. (iv) The failure of the franchisee or proposed transferee to pay any sums owing to the franchisor or to cure any default in the franchise agreement existing at the time of the proposed transfer. (h) A provision that requires the franchisee to resell to the franchisor items that are not uniquely identified with the franchisor. This subdivision does not prohibit a provision that grants to a franchisor a right of first refusal to purchase the assets of a franchise on the same terms and conditions as a bona fide third party willing and able to purchase those assets, nor does this subdivision prohibit a provision that grants the franchisor the right to acquire the assets of a franchise for the market or appraised value of these assets if the franchisee has breached the lawful provisions of the franchise agreement and has failed to cure the breach in the manner provided in subdivision (c). (i) A provision which permits the franchisor to directly or indirectly convey, assign, or otherwise transfer its obligations to fulfill contractual obligations to the franchisee unless provision has been made for providing the required contractual services. If the franchisor’s most recent financial statements are unaudited and show a net worth of less than 100,000, the franchisor shall, at the request of a franchisee, arrange for the escrow of initial investment and other funds paid by the franchisee until the obligations to provide real estate, improvements, equipment, inventory, training, or other items included in the franchise offering are fulfilled. At the option of the franchisor, a surety bond may be provided in place of escrow. THE FACT THAT THERE IS A NOTICE OF THIS OFFERING ON FILE WITH THE ATTORNEY GENERAL DOES NOT CONSTITUTE APPROVAL, RECOMMENDATION, OR ENDORSEMENT BY THE ATTORNEY GENERAL. Any questions regarding this notice should be directed to: Michigan Attorney General’s Office, Consumer Protection Division, Attn: Franchise Section, G. Mennen Williams Building – 1st Floor, 525 West Ottawa Street, Lansing, Michigan 48933, Telephone Number: (517) 373-7117 THE MICHIGAN NOTICE APPLIES ONLY TO FRANCHISEES WHO ARE RESIDENTS OF MICHIGAN OR LOCATE THEIR FRANCHISES IN MICHIGAN. KFC US, LLC 2021 03 FDD 1172.006.013/321034.5

TABLE OF CONTENTS ITEM PAGE ITEM 1 THE FRANCHISOR, AND ANY PARENTS, PREDECESSORS AND AFFILIATES . 1 ITEM 2 BUSINESS EXPERIENCE . 5 ITEM 3 LITIGATION . 7 ITEM 4 BANKRUPTCY. 8 ITEM 5 INITIAL FEES . 8 ITEM 6 OTHER FEES . 9 ITEM 7 ESTIMATED INITIAL INVESTMENT . 13 ITEM 8 RESTRICTIONS ON SOURCES OF PRODUCTS AND SERVICES . 17 ITEM 9 FRANCHISEE'S OBLIGATIONS . 19 ITEM 10 FINANCING. 20 ITEM 11 FRANCHISOR'S ASSISTANCE, ADVERTISING, COMPUTER SYSTEMS AND TRAINING . 22 ITEM 12 TERRITORY . 30 ITEM 13 TRADEMARKS . 31 ITEM 14 PATENTS, COPYRIGHTS AND PROPRIETARY INFORMATION . 33 ITEM 15 OBLIGATION TO PARTICIPATE IN THE ACTUAL OPERATION OF THE FRANCHISE BUSINESS. 34 ITEM 16 RESTRICTIONS ON WHAT THE FRANCHISEE MAY SELL . 34 ITEM 17 RENEWAL, TERMINATION, TRANSFER AND DISPUTE RESOLUTION . 35 ITEM 18 PUBLIC FIGURES . 40 ITEM 19 FINANCIAL PERFORMANCE REPRESENTATIONS . 40 ITEM 20 LOCATIONS AND FRANCHISEE INFORMATION . 45 ITEM 21 FINANCIAL STATEMENTS . 56 ITEM 22 CONTRACTS. 56 ITEM 23 RECEIPTS. 56 i KFC US, LLC 2021 03 FDD 1172.006.013/321034.5

EXHIBITS A B C D E F G H I J K L M N O P Q R S T U V W X Y State Administrator List/Agents for Services of Process Kentucky Fried Chicken Franchise Agreement Development Agreement Deposit Agreement Option Agreement Advertising Agreement F-1 Amendment to Advertising Agreement 5/15 Amendment Legacy New Development Addendum KFC Standards Library – Table of Contents Financial Statements List of KFC Franchisees and their Outlets List of Franchisees who left the System State Addendum Guaranty Control Person Addendum Renewal Addendum Rebuild/Relocate Addendum Q-1 Rebuild/Relocate Addendum (with renewal right) Q-2 Rebuild/Relocate Addendum (without renewal right) Learning Management System Services and Support Agreement R-1 Amendment to Learning Management System Services and Support Agreement MERIT System Technical Support Services Agreement S-1 Amendment to MERIT System Technical Support Services Agreement MERIT Hardware Self Maintenance Agreement Rebate Agreement Spousal Consent Sample General Release Representations and Acknowledgment Statement Receipts ii KFC US, LLC 2021 03 FDD 1172.006.013/321034.5

ITEM 1 THE FRANCHISOR, AND ANY PARENTS, PREDECESSORS AND AFFILIATES The Franchisor and its Parents and Predecessors KFC US, LLC, a Delaware limited liability company formed on March 31, 2016 (f/k/a KFC Franchisor, LLC), is the franchisor, and will be referred to as "KFCLLC" throughout this Disclosure Document. KFCLLC conducts business under the trade names “KFC” and “Kentucky Fried Chicken.” The principal address of KFCLLC is 1900 Colonel Sanders Lane, Louisville, Kentucky 40213. The buyer and guarantor of a franchise will be referred to as "you" throughout this Disclosure Document, even if you are a corporation, partnership or other entity, and includes your owners. KFCLLC’s predecessor and intermediate corporate parent is KFC Corporation (“KFCC”), a Delaware corporation incorporated on February 11, 1971. KFCC currently conducts business under the trade names of “KFC” and “Kentucky Fried Chicken.” KFCC's principal address is 1900 Colonel Sanders Lane, Louisville, Kentucky 40213. KFCC offered and sold franchises for Outlets (as defined below) in the United States from March 1971 until May 2016, at which time KFCLLC became the sole franchisor of Outlets in the United States. KFCC and KFCLLC entered into a management agreement, under which KFCC provides certain support services to Outlets, including, but not limited to, managing the KFC franchise system, marketing, offering and negotiating franchise agreements and development agreements, and otherwise fulfilling certain duties of KFCLLC under the franchise agreements and the development agreements. As of December 28, 2020, KFCC operated 47 Outlets (“Company-Owned Outlets”) (7 of which are KFC/Taco Bell multi-brand restaurants). KFCC does not currently offer franchises for Outlets or any other concepts in the United States KFCC, also formerly sold franchises for the following concepts: (i) H. Salt Fish, which was a fish and chips concept (1969 – 1988); (ii) Zantigo, which was a Mexican food concept (1976 – 1986); (iii) Pewter Pot Muffin House, which was a coffee-house concept (1973 – 1977); and (iv) Kentucky Roast Beef, which was a quick service sandwich restaurant (1968 – 1969). KFCC’s predecessor, Kentucky Fried Chicken Corporation originally offered franchises for Outlets beginning in 1952 and did so until 1971, at which time KFCC became the sole franchisor of Outlets in the United States until May 2016. KFCLLC’s ultimate corporate parent is Yum! Brands, Inc., a North Carolina corporation incorporated on May 30, 1997 (“Yum”). Yum’s principal address is 1441 Gardiner Lane, Louisville, Kentucky 40213. Yum or one of its affiliates identified in the chart below may provide certain services to KFCLLC on a consolidated basis. Yum has never operated an Outlet (as defined below), nor has it ever offered franchises for an Outlet or any other concept. Since its inception, KFCLLC has also offered franchises for non-traditional outlets (“NonTraditional Outlets”) which operate principally in captive audience venues under a separate Disclosure Document. From June 2016 to March 2019, KFCLLC sold franchises for Non-Traditional Outlets under the logo “KFC Express.” As of December 28, 2020, there were 36 Non-Traditional Outlets. KFCLLC’s agents for service of process are listed in Exhibit A of this Disclosure Document. KFCLLC’s Affiliates The following are KFCLLC's affiliates that either (a) offer franchises or licenses within the United States or (b) may provide products or services to you, if the Outlet is located in the United States. The 1 KFC US, LLC 2021 03 FDD 1172.006.013/321034.5

number of outlets that each affiliate operates or franchises, as described in the table below, includes multibrand outlets at which more than one brand is operated. Name and Address YUM Restaurant Services Group, LLC (“YRSG”) 1441 Gardiner Lane Louisville, KY 40213 Yum Connect, LLC (“Yum Connect”) 1441 Gardiner Lane Louisville, KY 40213 Pizza Hut, LLC 7100 Corporate Drive Plano, TX 75024 (“Pizza Hut”) Taco Bell Franchisor, LLC 1 Glen Bell Way Irvine, CA 92618 (“Taco Bell”) HBG Franchise, LLC 17320 Red Hill Ave. Suite 140 Irvine, CA 92614 (“HBG”) Business Formed in Delaware on November 18, 1996, and provides services such as technology support. YRSG has never offered franchises for Outlets or any other concepts. Formed in Delaware on July 16, 2019, and provides services such as technology support. Yum Connect has never offered franchises for Outlets or any other concepts. A Delaware limited liability company organized on May 20, 2016. Pizza Hut operates and franchises “Pizza Hut” restaurants, which specialize in the pizza distribution business. As of December 31, 2020, Pizza Hut operated 22 traditional Pizza Hut restaurants, 102 franchisees operated 5,323 traditional restaurants and 160 licensees operated a total of 1,308 express restaurants. Pizza Hut has not offered franchises in any other line of business, with the exception of the WingStreet franchises, but may do so in the future. A Delaware limited liability company organized on February 23, 2016. Taco Bell operates and franchises "Taco Bell" restaurants offering Mexican-style food for take-out and on-premises seating. As of December 29, 2020, Taco Bell operated approximately 475 traditional Taco Bell restaurants and 7 non-traditional restaurants. A total of approximately 6,679 traditional restaurants and 258 express restaurants were operated by approximately 285 franchisees and 61 licensees. Taco Bell has not offered franchises in any other line of business, but may do so in the future. A Delaware limited liability company organized on February 13, 2013. HBG franchises, and through its affiliates operates, “Habit Burger Grill” restaurants offering made-to-order chargrilled burgers, sandwiches and more for take-out and on-premises seating. As of December 29, 2020, HBG’s affiliate operated 254 Habit Burger Grill restaurants. A total of 17 traditional Habit Burger Grill restaurants were operated by 4 franchisees and 7 non-traditional restaurants were operated by 6 licensees. HBG has not offered franchises in any other line of business, but may do so in the future. Other than KFCC, none of the affiliates described in this Item 1 have operated Outlets. KFCLLC has a number of additional affiliates that offer franchises, including "KFC" franchises in foreign countries, as well as affiliates that provide certain products and services to franchisees who are located and do business in these foreign countries. Unless otherwise stated, the information in this Disclosure Document does not include the international operations or franchising of “KFC” franchises. 2 KFC US, LLC 2021 03 FDD 1172.006.013/321034.5

KFCLLC's Business and the Franchise Offered If you are approved as a KFC franchisee, KFCLLC will grant you the right to operate one KFC outlet (each an “Outlet”) at a specific location approved by KFCLLC. You will sign the Kentucky Fried Chicken Franchise Agreement (Form 76[5P] v. 2015), in the form attached as Exhibit B (the “Franchise Agreement”), for a franchise to operate an Outlet, as well as either the (i) 5/15 Amendment (as defined below), or (ii) Legacy New Development Addendum (as defined below). The Franchise Agreement grants you a license to use (i) certain KFC trademarks, trade names, service marks, logos and commercial symbols KFCLLC periodically authorizes, including the “KFC ” and “Kentucky Fried Chicken ” marks (together, the “Marks”); and (ii) the proprietary business formats, methods, procedures, designs, layouts, standards and specifications (together the “System”) KFCLLC authorizes, solely in connection with the operation of the Outlet. KFCLLC has not implemented any permanent System changes as a result of the COVID-19 pandemic; however, safety, cleaning and other operational guidelines implemented as a result of the pandemic must be followed. The Outlet will offer a menu of products consisting primarily of chicken entree items like chicken-on-the-bone, chicken sandwiches, chicken strips and various other approved products, such as biscuits, potatoes, desserts and beverages (the “Approved Products”). The Approved Products will consist of the “Required Products” and the “Optional Products” which are identified on Exhibit A of the Franchise Agreement. KFCLLC may amend or remove any of the Approved Products upon prior written notice to you. KFCLLC offers development rights to persons and/or entities who meet KFCLLC’s multi-unit operator criteria, by entering into a development agreement (the “Development Agreement”). The Development Agreement does not grant any territorial protection or exclusive rights to develop Outlets. For each Outlet to be developed under the Development Agreement, you will execute the then-current version of the Franchise Agreement. The current form of the Development Agreement is attached as Exhibit C. Before you build an Outlet or sign the Franchise Agreement, you must sign a “Deposit Agreement” in the form attached as Exhibit D, under which you will apply for a site for the Outlet. Once KFCLLC approves a proposed site under the Deposit Agreement, then concurrently with signing the Franchise Agreement, you must sign a KFC Franchise Option Agreement, in the form attached as Exhibit E (the “Option Agreement”). The Option Agreement provides you the option to develop the Outlet at an approved site. In addition to the Deposit Agreement, Option Agreement and Franchise Agreement, you must also sign an Advertising Agreement with the National Co-Op (as defined in Item 3), which is attached as Exhibit F. If you are an existing franchisee and have already signed an advertising agreement, you may be eligible to sign an amendment to your existing advertising agreement to add the additional Outlet. A copy of KFCLLC’s form Amendment to Advertising Agreement is attached as Exhibit F-1. If you are an entity, you must also sign the Control Person Addendum attached as Exhibit O, which identifies one of your owners as the Control Person (as defined in Item 15). KFCLLC does not sign the Franchise Agreement until you have fulfilled the requirements of the Option Agreement. For (i) Franchisees (defined below) opening new Outlets, and (ii) any franchisee purchasing an Outlet that was formerly owned by KFCC or its affiliates, you will also sign the Amendment to Kentucky Fried Chicken Franchise Agreement attached as Exhibit G (the “5/15 Amendment”). The 5/15 Amendment (i) requires you to pay a 5% royalty; (ii) grants one 10-year renewal right; and (iii) requires a 10-year upgrade of the Outlet according to KFCLLC’s standards and specifications (with refurbishment requirements at the Outlet during years 5 and 15 of the term of the Franchise Agreement). 3 KFC US, LLC 2021 03 FDD 1172.006.013/321034.5

Legacy Franchisees Legacy Franchisees (as defined below) opening new Outlets must sign the Franchise Agreement and New Development Addendum in the form attached as Exhibit H (the “Legacy New Development Addendum”). The Legacy New Development Addendum requires a 10-year remodel of the Outlet (subject to a 175,000 spending limit, which is adjusted annually for inflation). “Legacy Franchisees” are KFC franchisees in existence as of August 1, 2008 and their heirs (i.e., relatives of controlling owners by blood or marriage consistent with KFCC’s historical practice) and any subsequent legal entities which become KFC franchisees after that date with KFCC’s consent, provided that these subsequent KFC franchisees have as their controlling owners the same owners of their heirs (i.e., relatives of the controlling owners by blood or marriage consistent with KFCC’s historical practice). Rebate Incentive Franchisees who open new Outlets may qualify for KFCLLC’s rebate incentive program as more fully described in the form rebate agreement attached as Exhibit U hereto (the “Rebate Agreement”). The Rebate Agreement provides a rebate of royalties paid to KFCLLC and advertising funds paid to the National Co-Op, each ranging from 3.5% to 4% of Gross Revenue. If the new Outlet opens between December 29, 2020 and December 27, 2021, then you will be eligible to receive a rebate equal to (i) 4% of Gross Revenue during the first year the Outlet operates; (ii) 3.75% of Gross Revenue during the second year the Outlet operates; and (iii) 3.5% during the

The franchisee will operate a dine-in and carryout KFC outlet, which prepares and sells chicken and other menu items KFCLLC approves. The total investment necessary to begin operation of a newly constructed KFC outlet ranges from 1,442,600 to 2,771,550. This includes 45,000 to 50,000 that must be paid to KFCLLC or its affiliates.