PepsiCo

THE PEPSICO 401(k) SAVINGS PLAN

The PepsiCo Savings Plan provides you with an easy and convenient way to save for retirement.

OVERVIEW
The Savings Plan is a tax-advantaged retirement savings plan sponsored by PepsiCo. When you enroll, you determine how much to contribute and contributions are automatically deducted from your pay. You also decide how to contribute – either on a before-tax or Roth basis. Plus, PepsiCo will match a portion of your contributions based on your years of service. The amounts you and PepsiCo contribute are invested as you wish. You can choose between a pre-packaged mix of investments or you can pick your own mix to suit your investment style.

ELIGIBILITY
Generally, most employees will become eligible for the plan after performing one hour of service. Part-time employees who've completed 1,000 hours of service in the prior year are also eligible. Employees covered by a collective bargaining agreement may not be eligible to participate in the 401(k) plan and/or receive a Company match.

ENROLLING IN THE SAVINGS PLAN
Enroll online at netbenefits.com/pepsico or call The PepsiCo Savings and Retirement Center at Fidelity at 1-800-632-2014.

If you do not enroll in the Savings Plan within 60 calendar days after becoming eligible, you will be automatically enrolled at a contribution rate of 4% of your pre-tax eligible pay. Your contributions will be increased by 1% each year following your automatic enrollment until you have reached 10%1.

If you are automatically enrolled, or you have not made an investment election for contributions made to your account, your contributions will be invested in the Savings Plan's default investment option until you elect otherwise.

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Total Rewards

1 This applies to employees hired on or after 1/4/2021.

This guide is intended to provide a summary of some of the features of the PepsiCo Savings Plan; however the official plan documents remain the final authority and, in the event of a conflict with this guide, will govern in all cases. While PepsiCo, Inc. (Company) currently intends to continue the Savings Plans and programs described herein, the Company reserves the right to amend, modify or terminate the Savings Plans or programs at any time. Nothing in this guide should be construed as a promise or guarantee of future benefits or any level or amount of benefits, or as a promise or guarantee of employment or future employment for any duration.

January 2023