Indra Nooyi Chairman and Chief Executive Officer

Hugh Johnston Chief Financial Officer

PepsiCo Fourth Quarter 2012 Earnings Call February 14, 2013

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Safe Harbor Statement of Terms & Non-GAAP Information

Note: This presentation should be viewed in conjunction with PepsiCo’s Q4 2012 earnings call

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 • Please refer to the Glossary and attachments to our February 14, 2013 earnings release for the definitions of core, constant currency, organic and certain other terms used

herein. Beginning with 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.

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2012: Delivered on Our Financial Commitments

• Core1 EPS $1.09 for the fourth quarter and $4.10 for the full year

• Organic1 revenue growth +5% in 4Q12 and full year 2012

• Stepped up A&M by 50bps to 5.7% of net revenue in 2012

• Reduced net capital spending by 20% to 4% of 2012 net revenue

• MOCF1 (ex-items) of $7.4 billion, an increase of 20% over 2011

• Returned $6.5 billion to shareholders through share repurchases and dividends

1. Represents Non-GAAP financial measures that adjust for certain items. For a description of these items, please refer to “Reconciliation of GAAP and Non-GAAP Information” in the “Investors” section of PepsiCo’s website at www.pepsico.com

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Innovation

2 1 Brand

Building

3 Execution

4 Productivity

5 Cash

Returns

2012: Strengthened the Business

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2013: Outlook

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

1. From PepsiCo’s fiscal 2012 core EPS of $4.10 Note – Certain of the above items are Non-GAAP financial measures that adjust for certain items. For a description of these items, please refer to “Reconciliation of GAAP and Non-GAAP Information” in the “Investors” section of PepsiCo’s website at www.pepsico.com

+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)

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