. Reported EPS Up 10 Percent, Core Constant Currency EPS up 8 Percent*
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Full-Year 2009 Cash Flow from Operations expected to reach $6.4 billion, $7 billion excluding One Time Pension Contribution
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Targets Full-Year Fiscal 2010 Core Constant Currency EPS Growth of 11 to 13 Percent
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Preparations for Bottler Integration On-Track
PURCHASE, N.Y. (Oct. 8, 2009) – PepsiCo, Inc. (NYSE: PEP) today reported solid profit performance in the third quarter of 2009, reflecting the company’s balanced approach to investing in value and innovation in key markets as well as productivity and cost discipline across its businesses. Reported EPS was $1.09, and in constant currency the company delivered 5 percent net revenue growth and an 8 percent increase in core EPS.
Indra Nooyi, PepsiCo Chairman and Chief Executive Officer, said “PepsiCo’s diversified food and beverage portfolio and our advantaged business model continued to drive solid results this quarter. Our teams around the world leveraged PepsiCo’s agile go-to-market system to deliver our brands at differentiated value to consumers, who are still feeling the pinch of the global recession despite improving macroeconomic indicators.
“We will continue to make targeted investments across our entire portfolio, and we expect these to ramp up next year as we begin to realize the benefits of the integration of our two anchor bottlers. These investments in innovation, infrastructure, key markets and people development, coupled with our operating agility and focus, give me great confidence in both the near-and long-term growth prospects of PepsiCo,” Nooyi continued.
Richard Goodman, PepsiCo Chief Financial Officer said, “As we prepare for 2010, we are targeting EPS growth of 11 to 13 percent in core constant currency. As we progress through 2010, if we do better than this range we will take the opportunity to make additional strategic broad-based investments in our business to enhance our competitiveness. ”

*Please refer to the Glossary for definitions of constant currency and core. Core results and constant currency core results are
non-GAAP financial measures that exclude certain items. Please refer to “Reconciliation of GAAP and Non-GAAP
information” in the attached exhibits for a description of these items.

Operating Highlights:
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Focused investments in consumer value and product innovation drove volume growth in global snacks and beverages.
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PepsiCo Americas Foods gained share in virtually every market in which it operates.
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PepsiCo Americas Beverages’ family of strong brands maintained its leadership position in the U.S. liquid refreshment beverage segment and took the leading position in carbonated soft drinks for both volume and value share in measured channels.
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PepsiCo International posted strong gains in constant currency operating profit with improving volume trends in developing markets.

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