PepsiCo Appoints Wern-Yuen Tan as Chief Executive Officer of Asia Pacific, Australia, New Zealand and China Business

PURCHASE,N.Y.,June 3,2020 -- PepsiCo,Inc. (NASDAQ: PEP) today announced that Wern-Yuen Tan has been appointed Chief Executive Officer of Asia Pacific,Australia,New Zealand and China ("APAC"),overseeing all of PepsiCo's operations in the region. Mr. Tan,who will begin his new role on June 15,2020,will be based in Singapore and will report to PepsiCo CEO Ramon Laguarta.

PepsiCo Appoints Wern-Yuen Tan as Chief Executive Officer of Asia Pacific,New Zealand and China Business

"All of us at PepsiCo are delighted to welcome Wern-Yuen as our new CEO of APAC at this time of unprecedented change and opportunity," said Ramon Laguarta,CEO of PepsiCo. "Wern-Yuen has driven transformative innovation and results at every step of his career and brings deep experience with consumers in this diverse region through positions in retail,food service and consulting. His leadership will be instrumental as we look to accelerate growth by leveraging our scale and creating more localized solutions in these important markets."

Prior to PepsiCo,Tan served as President and CEO of Walmart China where he led a team of 100,000 associates responsible for over $10 billion in annual revenue across the Walmart,Sam's Club and eCommerce businesses. During his tenure,he led Walmart China through a time of transformation to become an industry pioneer in omnichannel innovation and retail digitization. Prior to joining Walmart in 2017,Tan served as Managing Director for McDonald's Taiwan,where he gained valuable experience in the food service sector. Earlier in his career,he was a principal at Boston Consulting Group,where he advised retail and consumer clients on growth strategy,innovation and turnarounds. Tan began his career in the Singapore government.

"I am thrilled to join PepsiCo,a truly global company whose products are recognized across the world," said Tan. "With deep roots across this region and an unparalleled offering,PepsiCo is uniquely positioned to expand its market share and existing omnichannel capabilities across APAC. I look forward to working with Ramon and the entire leadership team to drive growth and localized solutions in this dynamic part of the world."

Ram Krishnan,who has been serving as CEO of APAC,will now transition fully to his previously announced role as Global Chief Commercial Officer of PepsiCo. The role was created to support PepsiCo's efforts to accelerate growth,with a focus on scaling innovation,commercial and transformation capabilities. This includes building a data driven demand ecosystem; portfolio transformation; innovating with speed and impact; and building foundational eCommerce,Revenue Management,and Go-to-Market capabilities.

Laguarta continued: "I also want to recognize and express my deep gratitude to Ram and the APAC leadership team for their phenomenal work managing our business through a historically difficult period while delivering strong results and making PepsiCo Faster,Stronger and Better. Ram will now return fulltime to his role as Global Chief Commercial Officer,a crucial position for PepsiCo's Winning with Purpose strategy. His continued leadership will be a tremendous asset as we execute on our global consumer and customer sales agenda,whilst developing and scaling new capabilities and business models based on data and technology to deliver future growth."

About PepsiCo

PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo generated more than$67 billionin net revenue in 2019,driven by a complementary food and beverage portfolio that includes Frito-Lay,Gatorade,Pepsi-Cola,Quaker and Tropicana. PepsiCo's product portfolio includes a wide range of enjoyable foods and beverages,including 23 brands that generate more than$1 billioneach in estimated annual retail sales.Guiding PepsiCo is our vision to Be the Global Leader in Convenient Foods and Beverages by Winning with Purpose. "Winning with Purpose" reflects our ambition to win sustainably in the marketplace and embed purpose into all aspects of the business. For more information,visitwww.pepsico.com.Cautionary Statement

Statements in this release that are "forward-looking statements" are based on currently available information,operating plans and projections about future events and trends. Forward-looking statements inherently involve risks and uncertainties. For information on certain factors that could cause actual events or results to differ materially from our expectations,please see PepsiCo's filings with the Securities and Exchange Commission,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.

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