Hugh Johnston Chief Financial Officer

Geared for Growth CAGNY – February 21, 2013

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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.

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PepsiCo Today

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.

Revenue

Operating Margin

Net ROIC

Dividend Yield

Organic Revenue Growth

$65B

15%

15%

3%

5%

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Positioned in Attractive Categories

• Projected 5% category growth for

snacks and beverages

• Highly complementary

• PepsiCo #1 globally

in salty snacks

• PepsiCo strong #2 globally

in beverages with leadership

in many important markets

Note: Snacks/Beverage/Nutrition data is based on 2012 net revenue

Beverages

49% Snacks

51%

Global

Nutrition

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With a Broad Product Portfolio…

Products Have Broad Appeal

DAYPARTS

COHORTS

NEEDSTATES

OCCASIONS

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Powerful Brands

22 $1Bn Brands

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Over 40 $250M-$1Bn Brands

Powerful Brands

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PepsiCo Has 9 of the Top 40 Trademarks at Retail

52 Weeks Ending Dec 30, 2012, SymphonyIRI Group - Total Store Advantage, Total US – MultiOutletC

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

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Emerging & Developing Markets

Significant Developing and Emerging Markets Exposure

Balanced Geographic Footprint

Products / Territories

Both Snacks Only Beverages Only No Presence

We Have Products in More than 200 Countries and Territories

Emerging &

Developing

35% Developed

65%

Note: Developed and Emerging & Developing data is based on 2012 net revenue

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Consumption Highly Correlated to GDP/Capita

Source: Euromonitor

GDP / Capita

Per

Cap

ita C

on

su

mp

tio

n

10K 20K

Emerging Developed

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Lots of Growth Runway

Source: Euromonitor

Salty Snack Per Capita Consumption (Index to Mexico)

India

China

Russia

Brazil

Mexico

39

28

11

6

100

12

Recent Actions Have Strengthened Our Business

Stepped Up Innovation

Strengthened Execution

Increased Brand Investment

Productivity to Fund Margin Expansion & Future Investment

Cash Flow Productivity & Returns

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2012 A&M Up 50bps to 5.7% of Sales

Increased Brand Investment: Focus on Mega Brands

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Crash the Superbowl

ENGAGEMENT HUGE CONSUMER

2 OF TOP 10 SUPERBOWL SPOTS

22,000 ADS SUBMITTED OVER 7 YEAR HISTORY

14

15

Do Us a Flavor

19 MILLION SUBMISSIONS

GLOBALLY

INCLUDING POLAND, EGYPT & INDIA

UK TO 17 MARKETS LIFT & SHIFT FROM THE

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16

PepsiCo Sports Properties

Leagues

Pro Teams

Colleges

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Innovation Across the Portfolio

Stepped Up Innovation

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Doritos Locos Tacos

325 SOLD MILLION UNITS

NEW PRODUCT IN MOST SUCCESSFUL

HISTORY TACO BELL

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Quaker Real Medleys

2012 BREAKFAST

OF THE YEAR

DELICIOUS PREMIUM

WITH REAL FRUIT AND NUTS

OATMEAL PRODUCT

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20

Pepsi Next

$150

60% LESS CALORIES

REAL COLA TASTE

RETAIL MILLION AT

20

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Starbucks Refreshers

60 CALORIE SPARKLING BEVERAGE

DELICIOUS BOOST OF ENERGY FROM GREEN COFFEE EXTRACT

21

22

Trop 50

50% LESS CALORIES

FOLLOWING SUCCESS IN LAUNCHED IN THE UK

US & CANADA

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Gatorade Energy Chews

PERFORMANCE TO FUEL ATHLETES CARB ENERGY

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Frito Share of Salty Purchases with a CSD

Strengthened Execution

Source: IRI Household panel, 2012 is rolling 12 months ending December 16, 2012

PEP CSD Share of CSD Purchases with Salty

When

CSD is:

2011 2012

+2pts +4pts

Other PEP Other PEP

60% 62% 59%

63%

When

Salty is:

2011 2012

+2pts +3pts

Other PEP Other PEP

32% 34% 32% 35%

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Sustainability

GTM Strategy

Procurement

Fleet Portfolio

Delivered Productivity of $1B in 2012

Automation & Technology

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Cash Returns

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.

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

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Balanced Profile

Geographies

Significant Emerging and Developing Markets Exposure

Emerging &

Developing

35% Developed

65%

Products

Note: Data is based on 2012 net revenue

Beverages

49% Snacks

51%

Global

Nutrition

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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

Portfolio Delivers Balanced Growth, ROIC and Margins

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Category

51% ~2/3

49% ~1/3

How Revenue Growth Model Works

Geography

Growth Rate % of Growth % of Revenue

LSD-MSD

MSD

Beverages

Snacks

Assumes: 3-5 year timeframe, currency neutral, no structural change

35%

~2/3

65%

~1/3

Growth Rate % of Growth % of Revenue

LSD-MSD

HSD-LDD

Mid-Single Digit Revenue Growth

Developed

Emerging &

Developing

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Long-Term Goals

Top Tier TSR

• EPS HSD

• Operating Margin

+30-50 bps / year

• ROIC 50+ bps / year

• Core MOCF growth

= Net Income growth

• Strong returns to shareholders

(dividends and share

repurchases)

• Revenue Growth MSD,

mostly Organic

• Balanced offerings between

FFY, BFY, GFY

• Increased Emerging &

Developing Market Footprint

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.

• World-Class Brand Building and Innovation

• Excellence in Execution

• Optimal Cost Structure and Capital Allocation

• Best Place to Work

Supporting

Fundamentals:

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Core Constant Currency EPS Growth

Organic Revenue Growth

2013 Productivity Savings

Commodity Inflation

A&M

Core Tax Rate

MOCF (excluding certain items)

Net Capital Expenditures

Share Repurchases

Dividends

+7%1

+Mid-Single Digits

~$900M

+Low-Single Digits

At Least 5.7% of Net Revenue

~27%

More than $7B

~$3B (<5% of Net Revenue)

~$3.0B

~$3.4B (+5.6% Increase in Div/Share)

2013: Outlook

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.

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• Scale Leverage

• Aggressive

Productivity

Program

• Mid-Single-Digit

Revenue Growth,

Mostly Organic

• Brand Building

• Innovation

• Go-to-Market

Capability

PEP Virtuous Circle