KFC ECONOMIC

Supply Chain & Sourcing Relationships

• KFC’s parent, Yum! Brands, describes global supplier expectations, but the reviewed KFC and Yum materials do not identify Israeli suppliers or Israel-specific product flows.¹

• No public evidence identified of direct KFC or Yum procurement from Mehadrin, Hadiklaim, Galilee Export, Agrexco successors, or another named Israeli agricultural exporter.^{2, 3}

• No public evidence identified of a Yum/KFC-owned Israeli importer-of-record entity, joint venture, dedicated import company, recurring counter-seasonal procurement, or Israeli-origin goods supplied through a named distributor or white-label arrangement.^{2, 3}

• The available materials do not provide supplier lists, customs records, tender records, or audited accounts for the Israeli KFC operator, leaving sourcing and import arrangements unresolved.^{2, 3}

• Dragontail’s documented Pizza Hut kitchen-management services concern restaurant technology rather than food procurement and do not establish a KFC Israel supply relationship.⁴

Product Origin, Labeling & Regulatory Compliance

• No public evidence identified of KFC products confirmed or alleged in the reviewed materials to originate in West Bank settlements, East Jerusalem settlements, or the Golan Heights.^{2, 5}

• No public evidence identified of a related country-of-origin labelling dispute, customs or regulatory enforcement action, or a published KFC/Yum policy specifically governing goods from occupied or contested territories.^{1, 5}

• The supplied document-scoped review found no KFC mention in the 2023 OHCHR settlement-business database, the UN Special Rapporteur’s 2025 report, and the other enumerated accountability materials.^{5, 6}

• This document-scoped absence does not establish the absence of all KFC-, Yum-, subsidiary-, franchisee-, executive-, or shareholder-related activity under other names.^{5, 6}

• No public evidence identified in the reviewed primary corporate, regulatory, and accountability materials of a KFC/Yum outlet, warehouse, technology site, supplier relationship, or service contract in a named Israeli settlement, occupied East Jerusalem, or the Golan Heights.^{5, 6, 7, 8, 9, 10}

Investment, Capital & Financial Exposure

• Yum! Brands, Inc. is a North Carolina corporation with principal executive offices in Louisville, Kentucky, and reports that the KFC Division encompasses worldwide KFC operations; 99% of KFC Division units were franchised as of 31 December 2025.^{3, 11}

• Yum’s subsidiary exhibit as of 31 December 2025 lists Dragontail Systems Ltd. and TicTuk Technologies Ltd. as Israel-incorporated subsidiaries, but does not state their ownership percentages, addresses, workforces, revenues, or functions.¹²

• Yum announced in March 2021 that it had acquired Tictuk Technologies, which it described as a privately held Israeli omnichannel ordering and marketing-platform company founded in 2016 and based in Tel Aviv.¹³

• Yum announced in September 2021 that it completed an all-cash acquisition of all issued and outstanding shares of Dragontail Systems Limited for approximately A$93.5 million, making Dragontail a wholly owned Yum subsidiary.^{14, 15}

• Yum stated that Dragontail employees would primarily be located in Israel, the United States, and Australia, but did not divide employees among those countries or identify their functions.¹⁴

• Yum described Dragontail’s technologies as order management, delivery routing, and camera-based quality control, without identifying Israeli manufacturing sites, defence or IDF work, settlement activity, or critical-infrastructure contracts.¹⁴

• A 2025 Pizza Hut franchise-disclosure document identifies Dragontail Systems Ltd. at 7 Metzada Street, Bnei Brak, Israel, as an affiliate providing optional, “highly encouraged” back-of-house and kitchen-management services to Pizza Hut franchisees; it states that Dragontail neither operates Pizza Hut restaurants nor offers Pizza Hut franchises.^{4, 16}

• The same document reports approximately US$3,045,627 in Dragontail KMX-service revenue from Pizza Hut franchisees during Pizza Hut’s 2024 fiscal year; this is Pizza Hut-related group service revenue, not Israel-specific revenue, and does not establish where development or support work occurred.^{4, 16}

• Yum’s current Digital Commerce page presents TicTuk as an omnichannel ordering and marketing platform used across Yum’s four brands and states that its founder joined Yum’s digital-and-technology team following the 2021 acquisition.¹⁷

• Yum’s current Digital Commerce material describes a technology organization developing digital-commerce, point-of-sale, and menu-management products, including a team of more than 200 technologists, but does not allocate that workforce to Israel, Dragontail, or TicTuk.¹⁷

• The Australian Official Journal of Patents recorded two patents naming Dragontail Systems Ltd. as assigned to Yum Connect, LLC; this establishes recorded IP assignments but does not establish an Israeli subsidiary liquidation, business cessation, or the location of the underlying invention work.¹⁸

• Yum’s 2025 Form 10-K reports December 2024 tax elections resulting in the deemed liquidation of certain unnamed foreign subsidiaries in Australia and Israel and software transfers from those subsidiaries to U.S. subsidiaries.³

• The filing does not name the affected entities or software. Dragontail’s and TicTuk’s inclusion in Yum’s 31 December 2025 subsidiary exhibit means that the unnamed tax-liquidation disclosure does not establish that either named entity was liquidated, sold, or ceased to be a Yum subsidiary.^{3, 12}

• Yum’s Forms 10-Q for the quarters ended 31 March and 30 June 2026 do not mention Israel, Dragontail, or TicTuk; those document-scoped omissions neither establish a sale, closure, relocation, nor confirm continuing Israeli operations.^{19, 20}

• No public evidence identified in the reviewed corporate disclosures of a sale, closure, relocation, dissolution, or loss of Yum ownership specifically naming Dragontail Systems Ltd. or TicTuk Technologies Ltd.; the December 2025 exhibit lists both as Israel-incorporated subsidiaries, although the unnamed tax elections cannot be assigned to either entity from that disclosure.^{3, 12, 17, 19, 20}

• No public evidence identified in the reviewed primary Yum filings and current Yum materials that separately establishes Israeli product-development work, an Israeli engineering headcount, an Israel-specific R&D budget, or the precise worksite of engineers for either company.^{3, 17, 19, 20}

• Company-authored, closed employer job advertisements provide separate, dated evidence of post-acquisition Israeli product development: Dragontail’s Tel Aviv District R&D Project Manager role concerns software-development projects, and Tictuk’s Tel Aviv R&D Manager role concerns researchers, engineers, developers and product-development strategy; both identify the employer as part of Yum! Brands.^{21, 22}

• Those employer advertisements support development functions in Israel at the time of the listings, but do not establish present vacancies, September 2026 headcount, country-level R&D expenditure, a majority-Israeli workforce, or the precise current allocation of engineering work.^{21, 22}

• The Bnei Brak address and KMX-service disclosure establish an Israeli technology-service presence for Dragontail, but do not establish whether that location is an engineering/R&D facility, a support office, a registered office, or a combination.^{4, 16}

• No public evidence identified of Yum/KFC holdings in Israeli sovereign bonds, Israel-focused funds, OHCHR-listed companies, Israeli defence companies, or settlement-active companies.^{5, 6}

Operational Presence & Market Activity

• KFC Israel’s official website states that the chain began official activity in Israel in 2020, supporting a KFC-branded Israeli market presence from that year.⁷

• KFC Israel’s branch directories advertise locations including Beer Sheva, Zikhron Ya’akov, Rishon LeZion, Kiryat Ekron, Petah Tikva, Givatayim, and Tel Aviv.^{8, 23}

• KFC Israel’s current locator advertises 12 individually listed Israeli outlets while narrative text on the page refers to 13 branches; despite that internal numerical inconsistency, it supports continuing KFC-branded retail advertising in Israel.¹⁰

• These branch pages support an active consumer-facing Israeli retail footprint, but do not identify the legal operator, franchise ownership, revenue, employee numbers, tax status, supplier list, or territorial sales allocation.^{8, 23, 10}

• In March 2025, Calcalist reported that Mefco, described as one of two Israeli KFC franchisees, closed eight outlets and that the remaining outlets were operated by the second franchisee.²⁴

• Israel Hayom independently reported the closures and named the franchisees as Mefaco and Smart Service; the Mefco/Mefaco spelling variation has not been resolved through a registry filing.^{24, 25}

• A 2023 U.S. International Trade Administration guide stated that KFC was among six fast-food franchises operating in the West Bank, without identifying the franchisee, addresses, outlet count, territorial jurisdiction, or whether any site was in an Israeli settlement.⁹

• No public evidence identified of a KFC outlet, warehouse, office, or support centre in a named Israeli settlement in the West Bank, occupied East Jerusalem, or the Golan Heights.^{5, 8, 23, 9, 10}

• The location evidence remains limited because the reviewed branch directories and U.S. guide do not provide a complete geocoded outlet dataset or franchise-entity information.^{8, 23, 9}

• No public evidence identified of Yum/KFC disclosures of Israeli employee headcount, Israeli tax registration, Israeli revenue, or designation of Israel as a strategic market or regional hub.^{3, 11}

Corporate Structure & Foundational Ties

• KFC is a Yum! Brands concept or division rather than the SEC registrant, and Yum reports that it and its subsidiaries operate or franchise KFC, Taco Bell, Pizza Hut, and Habit Burger & Grill.¹¹

• Yum’s subsidiary exhibit lists KFC Corporation, Kentucky Fried Chicken International Holdings LLC, KFC Holding Co., KFC US, LLC, multiple regional KFC entities, Dragontail Systems Ltd., and TicTuk Technologies Ltd.¹²

• KFC was founded in Corbin, Kentucky, with its recipe dating to 1939 and its first franchise agreement to 1952.¹¹

• Yum was incorporated in North Carolina in 1997, maintains principal executive offices in Louisville, Kentucky, and reports KFC Division and Pizza Hut Division corporate headquarters in Plano, Texas.¹¹

• Chris Turner became Yum CEO on 1 October 2025, Brian Cornell was described by Yum as non-executive chair in August 2025, and Scott Mezvinsky became KFC Division CEO in March 2025.^{11, 26}

• Yum’s 2026 proxy identified Vanguard Group as beneficial owner of 12.1% of outstanding common stock as of 31 December 2025, alongside disclosed holdings by BlackRock, Capital International Investors, JPMorgan Chase, and T. Rowe Price Investment Management.²⁷

• No public evidence identified that KFC or Yum was founded in Israel, headquartered in Israel, Israeli tax-resident, state-owned, or structurally controlled by Israeli capital.^{3, 11}

• No public evidence identified of Israeli government ownership, government-appointed Yum/KFC directors, golden-share arrangements, critical-infrastructure designation, or charter mechanisms tying Yum/KFC to Israeli state policy.^{11, 12}

• The reviewed materials do not verify the legal identity, beneficial ownership, master-franchise agreement, or complete site list of the current Israeli KFC franchise operator.^{11, 12, 7, 8, 24, 25}

Profit Repatriation & Economic Contribution

• Yum describes a franchise-oriented international business, but its filings do not disclose Israel-specific franchise fees, revenue, profit flows, tax payments, or economic-impact metrics.^{3, 11}

• The available evidence therefore does not establish the amount or direction of profits attributable to Israeli KFC operations.³

• Dragontail’s reported Pizza Hut KMX-service revenue does not establish KFC Israel revenue, Israeli revenue, Israeli profit, or repatriation flows.^{4, 16}

• No public evidence identified of a government or industry designation characterising KFC Israel as a key employer, sector anchor, or critical economic actor.^{5, 6}

• Yum’s 2024 filing states that it does not directly own or operate restaurants, while some restaurants may be operated by subsidiaries; March 2025 reporting describes the Israeli outlets as operated by two franchisees, but the reviewed record does not establish the full legal ownership and profit-flow arrangements.^{2, 24, 25}