1、 Corrected Transcript 1-877-FACTSET Total Pages:17 Copyright 2001-2025 FactSet CallStreet,LLC 24-Apr-2025 PepsiCo,Inc.(PEP)Q1 2025 Earnings Call PepsiCo,Inc.(PEP)Q1 2025 Earnings Call Corrected Transcript 24-Apr-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 Steve Powers Analyst,Deutsche Ba

3、nk Securities,Inc.Filippo Falorni Analyst,Citigroup Global Markets,Inc.Dara Mohsenian Analyst,Morgan Stanley&Co.LLC Andrea Teixeira Analyst,JPMorgan Securities LLC Lauren R.Lieberman Analyst,Barclays Capital,Inc.Bryan D.Spillane Analyst,Bank of America Securities Michael S.Lavery Analyst,Piper Sandl

4、er&Co.Kaumil Gajrawala Analyst,Jefferies LLC Peter Grom Analyst,UBS Securities LLC Chris Carey Analyst,Wells Fargo Securities LLC Kevin Grundy Analyst,BNP Paribas Securities Corp.Robert Moskow Analyst,TD Cowen Charlie Higgs Analyst,Redburn(Europe)Ltd.PepsiCo,Inc.(PEP)Q1 2025 Earnings Call Corrected

5、Transcript 24-Apr-2025 1-877-FACTSET 3 Copyright 2001-2025 FactSet CallStreet,LLC MANAGEMENT DISCUSSION SECTION Operator:Good morning and welcome to PepsiCos 2025 First Quarter Earnings Question-and-Answer Session.Your lines have been placed on listen-only until its your turn to ask a question.Today

6、s call is being recorded and will be archived 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,and good morning,everyone.I hope every