Pepsico

YOUR CONTRIBUTIONS

When you participate in the PepsiCo Savings Plan, you decide how to contribute to the plan.

PRE-TAX (TRADITIONAL) CONTRIBUTIONS
You can elect pre-tax contributions, meaning a portion of your pay is taken out and invested into your Savings Plan account before taxes are applied. This reduces your current taxable income. You will pay taxes when you withdraw the funds from your account.

ROTH CONTRIBUTIONS
You can elect Roth contributions, meaning a portion of your pay is taken out and invested into your Savings Plan account after taxes are applied. This means, subject to IRS rules, you will not have to pay taxes when you withdraw the funds from your account in retirement. You also won't pay taxes on any investment earnings.

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SEE HOW BEFORE-TAX AND ROTH CONTRIBUTIONS COMPARE USING THE ROTH CONTRIBUTION MODELER

Log on to netbenefits.com/pepsico from your desktop; select Menu, then Tools. Select Roth Contribution Modeler under the Saving for Retirement section.

CONTRIBUTION LIMITS
You can contribute up to 50% of your eligible pay each pay period, up to the IRS annual limit. In 2023, this amount is $22,500.

You can save an additional $7,500 each year if you're age 50 or older.

Annual limits are monitored by PepsiCo payroll. If you reach the maximum annual contribution, your 401(k) payroll deduction will automatically stop and restart the following January. If you are age 50 or older this year, your annual savings limit will be increased to include this additional savings opportunity.

ANNUAL INCREASE PROGRAM
The Annual Increase Program allows you to set regular annual increases to your contribution amount. You may elect an increase date and percentage when you enroll. You may increase your contributions by 1% or more each year, automatically, as long as doing so falls within the Savings Plan's contribution limits.

VESTING
You will always be 100% vested in your contributions and investment returns on your contributions. This means if you were to leave PepsiCo, any contributions you made to the Savings Plan are yours to take with you.

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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