2018 Guide to Effective Proxies

2.7 Frequently Asked Questions | 121 6 TH EDITION | GUIDE TO EFFECTIVE PROXIES XCEL ENERGY a QuestionsandAnswers Questions and Answers about the Proxy Materials and the Annual Meeting What are the Company’s voting recommendations? OurBoardrecommendsthatyouvoteyoursharesasfollows: • FOR eachofthenomineestotheBoard(seepages19to24); • FOR approvaloftheadvisoryvoteonexecutivecompensation(seepage27); • FOR theratificationoftheappointmentofDeloitte&ToucheLLPasXcelEnergyInc.’sindependentregisteredpublic accountingfirmfor2018(seepage57). What is the voting requirement to approve each of the proposals? ElectionofDirectors .ForProposalNo.1,youmayvote“FOR”or“AGAINST”eachofthedirectornomineesoryourvotemaybe “WITHHELD”withrespecttooneormoreofthenominees.Toelectadirector,thesharesvoted“FOR”anomineemustexceedthe sharesvoted“AGAINST”thenominee.A“WITHHOLD”votewillnothaveanimpactontheelectionofdirectors. OurGuidelinesrequireanincumbentdirectorinanuncontestedelectiontotenderaresignationtoourGCNifthedirectordoesnot receiveamajorityofthevotescast“FOR.”Aftertakingintoaccountthatcommittee’srecommendation,theBoardwillactontheofferof resignationandpubliclydiscloseitsdecisionwithin90daysofthedateofthecertificationoftheelectionresults.Inmakingits recommendationordecision,theGCNandtheBoardmayeachconsideranyfactorsorotherrecommendationsthatitconsiders relevantandappropriate.Anydirectorwhohasofferedtotenderhisorherresignationwillnotparticipateinthedecisionregardinghis orherresignation.Ifthedirector’sresignationisnotacceptedbytheBoard,thedirectorwillcontinuetoserveuntilthenextannual meetinganduntilhisorhersuccessorisdulyelected.Ifthedirector’sresignationisacceptedbytheBoard,theBoardmayfillany resultingvacancyormayelecttonotfillthevacancyanddecreasethesizeoftheBoard. OtherProposals .Forallotherproposals,youmayvote“FOR,”“AGAINST”or“ABSTAIN.”ProposalNo.3requirestheaffirmative “FOR”voteofamajorityofthevotingpowerofthesharespresentinpersonorbyproxyandentitledtovoteattheannualmeeting.If you“ABSTAIN,”ithasthesameeffectasavote“AGAINST.”Ashareholderwhodoesnotvoteinpersonorbyproxyonaproposal (includingabrokernon-voteonaproposal)istreatedasnotpresentandnotentitledtovoteonthatproposal. ForProposalNo.2,wewillconsiderourshareholderstohaveapprovedourexecutivecompensationonanadvisory,non-bindingbasis ifthesharesvoted“FOR”theproposalexceedthesharesvoted“AGAINST.”Forpurposesofthisproposal,avoteto“ABSTAIN”anda failuretovoteinpersonorbyproxy(includingabrokernon-vote)willhavenoeffectonthisproposal. What happens if additional proposals are presented at the Annual Meeting? Otherthantheproposalsdescribedinthisproxystatement,wedonotexpectanymatterstobepresentedforavoteattheannual meeting.Ifyougrantaproxy,thepersonsnamedasproxies,RobertC.Frenzel,JudyM.PoferlandScottM.Wilensky,oranyofthem, willhavethediscretiontovoteyoursharesonanyadditionalmattersproperlypresentedforavoteattheannualmeeting.Ifforany unforeseenreasonanyofournomineesisnotavailableasacandidatefordirector,thepersonsnamedasproxieswillvoteyourproxy forsuchothercandidateorcandidatesasmayberecommendedbytheGCNandnominatedbytheBoard. Who are the appointed proxies? TheCompanyhasappointedRobertC.Frenzel,JudyM.PoferlandScottM.Wilensky,oranyofthemwithpowerofsubstitution,as proxiestovoteallproxiesproperlyexecutedandsubmittedbyshareholderswhoareentitledtovoteattheannualmeetingof shareholders,oranyadjournmentorpostponementofthemeeting. Who will count the vote? Weretainanindependentinspectortoreceiveandtabulatetheproxiesandtocertifytheresults.Fortheannualmeeting, representativesofEQShareownerServiceswilltabulatethevotesandactastheinspectorsofelection. What is the quorum requirement for the Annual Meeting? AtMarch20,2018,therewere508,660,883commonsharesissuedandoutstandingentitledtovoteattheannualmeetingandeach shareisentitledonevote.Wewillhaveaquorumandbepermittedtoconductbusinessifamajorityofthevotingpoweroftheseshares ispresentattheannualmeetinginpersonorbyproxy.Abstentionsandbrokernon-voteswillbecountedforthepurposeofdetermining thepresenceofaquorum. 2018 XcelEnergyProxyStatement | 61 Total of 05 pages in section YUM! BRANDS, INC. H YUM! Brands, Inc. 1441GardinerLane Louisville, Kentucky 40213 PROXY STATEMENT For Annual Meeting of Shareholders To Be HeldOn May 17, 2018 The Board of Directors (the “Board of Directors” or the “Board”) of YUM! Brands, Inc., a North Carolina corporation (“YUM” or the “Company”), solicits the enclosed proxy for use at the Annual Meeting of Shareholders of the Company to be held at 9:00 a.m. (Central Time), on Thursday, May 17, 2018, in the YUM! Brands Center of Restaurant Excellence, at 7100 Corporate Drive, Plano, Texas. This proxy statement contains information about the matters to be voted on at the Annual Meeting and the voting process, as well as information about our directors and most highlypaid executive officers. QUESTIONS AND ANSWERS ABOUT THE MEETING AND VOTING What is the purpose of the Annual Meeting? At our Annual Meeting, shareholders will vote on several important Company matters. In addition, our management will report on the Company’s performance over the last fiscal year and, following the meeting, respond to questions from shareholders. Why am I receiving these materials? You received these materials because our Board of Directors is soliciting your proxy to vote your shares at the Annual Meeting. As a shareholder, you are invited to attend the Annual Meeting and are entitled to vote on the items of businessdescribed in thisproxy statement. Why did I receive a one-page Notice in the mail regarding the Internet availability of proxy materials this year instead of a full set of proxy materials? As permitted by Securities and Exchange Commission (“SEC”) rules, we are making this proxy statement and our Annual Report available to our shareholders electronically via the Internet. On or about April 6, 2018, we mailed to our shareholders a Notice containing instructions on how to access this proxy statement and our Annual Report and vote online. If you received a Notice by mail you will not receive a printed copy of the proxy materials in the mail unless you request a copy. The Notice instructs you on how to access and review all of the important information contained in the proxy statement and Annual Report. The Notice also instructs you on how you may submit your proxy over the Internet. If you received a Notice by mail and would like to receive a printed copy of our proxy materials, you should follow the instructions for requestingsuchmaterials contained onthe Notice. We encourage you to take advantage of the availability of the proxy materials on the Internet in order to help lower the costs of delivery and reduce the Company’s environmental impact. YUM!BRANDS,INC. - 2018ProxyStatement 1 ProxyStatement Total of 05 pages in section