Presentation given by Pepsi at the 2013 Consumer Analyst of New York conference

1. Geared for Growth
CAGNY – February 21, 2013
Hugh Johnston
Chief Financial Officer

2. Safe Harbor Statement of Terms & Non-GAAP Information
Safe Harbor Statement
• Statements in this communication that are "forward-looking statements,” including our 2013 guidance, are based on currently available information, operating plans and projections
about future events and trends. Terminology such as “believe,” “expect,” “intend,” “estimate,” “project,” “anticipate,” “will” or similar statements or variations of such terms are intended
to identify forward-looking statements, although not all forward-looking statements contain such terms. Forward-looking statements inherently involve risks and uncertainties that
could cause actual results to differ materially from those predicted in such forward-looking statements. Such risks and uncertainties include, but are not limited to: changes in
demand for PepsiCo’s products, as a result of changes in consumer preferences and tastes or otherwise; changes in the legal and regulatory environment; PepsiCo’s ability to
compete effectively; PepsiCo’s ability to grow its business in emerging and developing markets or unstable political conditions, civil unrest or other developments and risks in the
countries where PepsiCo operates; unfavorable economic conditions in the countries in which PepsiCo operates; increased costs, disruption of supply or shortages of raw materials
and other supplies; failure to realize anticipated benefits from our productivity plan or global operating model; disruption of PepsiCo’s supply chain; damage to PepsiCo’s reputation;
failure to successfully complete or integrate acquisitions and joint ventures into PepsiCo’s existing operations; PepsiCo’s ability to hire or retain key employees or a highly skilled and
diverse workforce; trade consolidation or the loss of any key customer; any downgrade of our credit ratings; PepsiCo’s ability to build and sustain proper information technology
infrastructure, successfully implement its ongoing business transformation initiative or outsource certain functions effectively; fluctuations in foreign exchange rates; climate change,
or legal, regulatory or market measures to address climate change; failure to successfully renew collective bargaining agreements or strikes or work stoppages; any infringement of
or challenge to PepsiCo’s intellectual property rights; and potential liabilities and costs from litigation or legal proceedings.
• For additional information on these and other factors that could cause PepsiCo’s actual results to materially differ from those set forth herein, please see PepsiCo’s filings with the
SEC, including its most recent annual report on Form 10-K and subsequent reports on Forms 10-Q and 8-K. Investors are cautioned not to place undue reliance on any such
forward-looking statements, which speak only as of the date they are made. PepsiCo undertakes no obligation to update any forward-looking statements, whether as a result of new
information, future events or otherwise.
Non-GAAP Information
• Please refer to the “Investors” section of PepsiCo’s web site at www.pepsico.com under the heading “Investor Presentations” to find disclosure and a reconciliation of any non-GAAP
financial measures contained herein.
Glossary
• Beginning in the second quarter of 2012, organic results exclude the impact of foreign exchange translation. In addition, 2012 fourth quarter and full year organic results exclude the
extra reporting week in 2011. Please refer to the Glossary and attachments to our February 14, 2013 earnings release, available at www.pepsico.com under the heading “Investor
Presentations”, for the definitions of core, constant currency, organic and certain other terms used herein.
2

3. PepsiCo Today
Revenue $65B
Organic Revenue Growth 5%
Operating Margin 15%
Net ROIC 15%
Dividend Yield 3%
Certain of the above items are reflected on a core basis and represent Non-GAAP financial measures that exclude certain items. Please refer to the
“Reconciliation of GAAP and Non-GAAP Information” attachment posted on February 21, 2013 under the "Investors - Investor Presentations” section on
PepsiCo’s website at www.pepsico.com to find disclosure and a reconciliation of the above non-GAAP financial measures. 3

4. Positioned in Attractive Categories
• Projected 5% category growth for
snacks and beverages
Beverages
• Highly complementary
Snacks 49%
51% • PepsiCo #1 globally
in salty snacks
Global
• PepsiCo strong #2 globally
Nutrition
in beverages with leadership
in many important markets
Note: Snacks/Beverage/Nutrition data is based on 2012 net revenue 4

5. With a Broad Product Portfolio…
Products Have Broad Appeal
DAYPARTS
COHORTS
NEEDSTATES
OCCASIONS
5

6. Powerful Brands
22 $1Bn Brands
6

7. Powerful Brands
Over 40 $250M-$1Bn Brands
7

8. PepsiCo Has 9 of the Top 40 Trademarks at Retail
1 15 29
2 16 30
3 17 31
4 18 32
5 19 33
6 20 34
7 21 35
8 22 36
9 23 37
10 24 38
11 25 39
12 26 40
13 27
14 28
52 Weeks Ending Dec 30, 2012, SymphonyIRI Group - Total Store Advantage, Total US – MultiOutletC 8

9. Balanced Geographic Footprint
Products / Territories Emerging & Developing Markets
We Have Products in More than 200 Significant Developing
Countries and Territories and Emerging Markets Exposure
Emerging &
Developing
35%
Developed
65%
Both Snacks Only Beverages Only No Presence
Note: Developed and Emerging & Developing data is based on 2012 net revenue 9

10. Consumption Highly Correlated to GDP/Capita
Emerging Developed
Per Capita Consumption
10K 20K
GDP / Capita
Source: Euromonitor 10

11. Lots of Growth Runway
Salty Snack Per Capita Consumption
(Index to Mexico)
Mexico 100
Brazil 39
Russia 28
China 11
India 6
Source: Euromonitor 11

12. Recent Actions Have Strengthened Our Business
Increased Brand Investment
Stepped Up Innovation
Strengthened Execution
Productivity to Fund Margin Expansion & Future Investment
Cash Flow Productivity & Returns
12

13. Increased Brand Investment: Focus on Mega Brands
2012 A&M Up 50bps to 5.7% of Sales
13

14. Crash the Superbowl
HUGE CONSUMER
ENGAGEMENT
22,000
ADS SUBMITTED
OVER 7 YEAR HISTORY
2 OF TOP 10
SUPERBOWL SPOTS
14

15. Do Us a Flavor
19 GLOBALLY
MILLION SUBMISSIONS
LIFT & SHIFT FROM THE
UK TO 17 MARKETS
INCLUDING POLAND, EGYPT & INDIA
15

16. PepsiCo Sports Properties
Leagues
Pro Teams
Colleges
16

17. Stepped Up Innovation
Innovation Across the Portfolio
17

18. Doritos Locos Tacos
325 SOLD
MILLION UNITS
MOST SUCCESSFUL
NEW PRODUCT IN
TACO BELL
HISTORY
18

19. Quaker Real Medleys
DELICIOUS PREMIUM 2012 BREAKFAST
PRODUCT
OATMEAL OF THE YEAR
WITH REAL FRUIT AND NUTS
19

20. Pepsi Next
LESS
60% CALORIES
COLA
REAL TASTE
$150 RETAIL
MILLION AT
20

21. Starbucks Refreshers
60 CALORIE
SPARKLING
BEVERAGE
DELICIOUS
BOOST OF ENERGY
FROM GREEN COFFEE EXTRACT
21

22. Trop 50
LESS
50% CALORIES
LAUNCHED IN THE UK
FOLLOWING SUCCESS IN
US & CANADA
22

23. Gatorade Energy Chews
CARB ENERGY
TO FUEL ATHLETES
PERFORMANCE
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24. Strengthened Execution
Frito Share of Salty Purchases PEP CSD Share of CSD Purchases
with a CSD with Salty
2011 2012 2011 2012
+2pts +4pts +2pts +3pts
60% 62% 63%
59%
34% 35%
32% 32%
When When
Other PEP Other PEP Other PEP Other PEP
CSD is: Salty is:
Source: IRI Household panel, 2012 is rolling 12 months ending December 16, 2012 24

25. Delivered Productivity of $1B in 2012
Procurement Sustainability
Fleet Portfolio
Automation & Technology GTM Strategy
25

26. Cash Returns
Strong 2012 Performance
• Delivered $7.4 billion Management Operating Cash Flow (MOCF) ex-items
• Cash conversion cycle improved by 9 days
• Cap ex managed to 4% of net revenue
• Returned $6.5 billion to shareholders
MOCF Ex-Items per Share 5 Year CAGR of 11%
$30 Billion Cash Returned to Shareholders in Last Five Years
Note - Certain of the above items represent Non‐GAAP financial measures that exclude certain items. Please refer to the “Reconciliation of GAAP and Non‐GAAP Information” attachment
posted on February 21, 2013 under the "Investors ‐ Investor Presentations” section on PepsiCo’s website at www.pepsico.com to find disclosure and a reconciliation of the above non‐GAAP
financial measures. 26

27. Balanced Profile
Products Geographies
Significant Emerging and
Developing Markets Exposure
Beverages
Snacks 49% Emerging &
51% Developing
35% Developed
65%
Global
Nutrition
Note: Data is based on 2012 net revenue 27

28. Portfolio Delivers Balanced Growth, ROIC and Margins
Emerging Developing Developed
Growth Driver Penetration Frequency Expansion
Role in Portfolio
Growth
Absolute Margin/ROIC
Margin Improvement
ROIC Improvement
Key Markets China, India Russia, Mexico, Brazil U.S., U.K., Canada
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29. How Revenue Growth Model Works
Category Geography
Growth Rate % of Revenue % of Growth Growth Rate % of Revenue % of Growth
LSD-MSD LSD-MSD
~1/3 ~1/3
49%
65%
MSD HSD-LDD
~2/3 ~2/3
Beverages
51% Developed
35%
Snacks Emerging &
Developing
Mid-Single Digit Revenue Growth
Assumes: 3-5 year timeframe, currency neutral, no structural change 29

30. Long-Term Goals
Top Tier TSR
• Revenue Growth MSD, • EPS HSD • Core MOCF growth
mostly Organic = Net Income growth
• Operating Margin
• Balanced offerings between +30-50 bps / year • Strong returns to shareholders
FFY, BFY, GFY (dividends and share
• ROIC 50+ bps / year repurchases)
• Increased Emerging &
Developing Market Footprint
• World-Class Brand Building and Innovation
Supporting • Excellence in Execution
Fundamentals: • Optimal Cost Structure and Capital Allocation
• Best Place to Work
Note - Certain of the above items represent Non‐GAAP financial measures that exclude certain items. Please refer to the “Reconciliation of GAAP and Non‐GAAP Information” attachment
posted on February 21, 2013 under the "Investors ‐ Investor Presentations” section on PepsiCo’s website at www.pepsico.com to find disclosure and a reconciliation of the above non‐GAAP
financial measures. 30

31. 2013: Outlook
Core Constant Currency EPS Growth +7%1
Organic Revenue Growth +Mid-Single Digits
2013 Productivity Savings ~$900M
Commodity Inflation +Low-Single Digits
A&M At Least 5.7% of Net Revenue
Core Tax Rate ~27%
MOCF (excluding certain items) More than $7B
Net Capital Expenditures ~$3B (<5% of Net Revenue)
Share Repurchases ~$3.0B
Dividends ~$3.4B (+5.6% Increase in Div/Share)
1. From PepsiCo’s fiscal 2012 core EPS of $4.10
Note – Certain of the above items represent Non-GAAP financial measures that exclude certain items. Please refer to the “Reconciliation of GAAP and Non‐GAAP Information” attachment
posted on February 21, 2013 under the "Investors ‐ Investor Presentations” section on PepsiCo’s website at www.pepsico.com to find disclosure and a reconciliation of the above non‐GAAP
financial measures. 31

32. PEP Virtuous Circle
• Mid-Single-Digit • Scale Leverage
Revenue Growth,
Mostly Organic • Aggressive
Productivity
Program
• Brand Building
• Innovation
• Go-to-Market
Capability
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