1、 Corrected Transcript 1-877-FACTSET Total Pages:16 Copyright 2001-2025 FactSet CallStreet,LLC 17-Jul-2025 PepsiCo,Inc.(PEP)Q2 2025 Earnings Call PepsiCo,Inc.(PEP)Q2 2025 Earnings Call Corrected Transcript 17-Jul-2025 1-877-FACTSET 2 Copyright 2001-2025 FactSet CallStreet,LLC CORPORATE PARTICIPANTS R

2、avi Pamnani Senior Vice President,Investor Relations,PepsiCo,Inc.Ramon L.Laguarta Chairman&Chief Executive Officer,PepsiCo,Inc.James T.Caulfield Chief Financial Officer&Executive Vice President,PepsiCo,Inc.OTHER PARTICIPANTS Bonnie Herzog Analyst,Goldman Sachs&Co.LLC Stephen Powers Analyst,Deutsche

3、Bank Securities,Inc.Filippo Falorni Analyst,Citigroup Global Markets,Inc.Dara Mohsenian Analyst,Morgan Stanley&Co.LLC Lauren R.Lieberman Analyst,Barclays Capital,Inc.Michael S.Lavery Analyst,Piper Sandler&Co.Peter Grom Analyst,UBS Securities LLC Andrea Teixeira Analyst,JPMorgan Securities LLC Peter

4、T.Galbo Analyst,BofA Securities,Inc.Kaumil Gajrawala Analyst,Jefferies LLC Robert Ottenstein Analyst,Evercore ISI Chris Carey Analyst,Wells Fargo Securities LLC Kevin Grundy Analyst,BNP Paribas Securities Corp.PepsiCo,Inc.(PEP)Q2 2025 Earnings Call Corrected Transcript 17-Jul-2025 1-877-FACTSET 3 Co

5、pyright 2001-2025 FactSet CallStreet,LLC MANAGEMENT DISCUSSION SECTION Operator:Good morning and welcome to PepsiCos 2025 Second Quarter Earnings Question-and-Answer Session.Your lines have been placed on listen-only until its your turn to ask a question.Todays call is being recorded and will be arc

6、hived at www.PepsiC.It is now my pleasure to introduce Mr.Ravi Pamnani,Senior Vice President of Investor Relations.Mr.Pamnani,you may begin.Ravi Pamnani Senior Vice President,Investor Relations,PepsiCo,Inc.Thank you,Kevin.Good morning,everyone.I hope everyone has had a chance this morning to review