Press Release 02 Oct 2017 NEW R&D NUTRITION CENTRE IN CORK TO LEAD PEPSICO’S EUROPEAN FRUIT & VEGETABLE INNOVATION 26 new roles created in PepsiCo’s R&D Nutrition Fruit and Vegetable Centre, alongside the dairy and snacks R&D teams totalling 40 new roles. New centre to support PepsiCo’s growing nutrition business that includes well-known brands such as Tropicana, Naked Juice and Alvalle. Little Island, Co. Cork, Ireland, October 2, 2017 – PepsiCo, Inc. today launched its new R&D Nutrition Centre at Little Island, Co. Cork, Ireland. The centre was officially opened by Simon Coveney, TD, Minister for Foreign Affairs and Trade, in the presence of Dr. Jan Weststrate, Senior Vice President Nutrition R&D, PepsiCo, and Cliona Murphy, Vice President Research & Development, PepsiCo and Cork R&D site lead. Welcoming the launch of the new R&D Nutrition Centre, An Tánaiste and Minister for Business, Enterprise and Innovation, Frances Fitzgerald said “This investment by PepsiCo is a great vote of confidence in what Ireland has to offer. The company is diversifying into an exciting range of new products, which will be developed in Ireland and the new operation in Cork will provide quality jobs for Irish researchers. The Government strongly supports initiatives like this one where companies are adding value and engaging in high-skilled innovation. PepsiCo’s foresight in moving beyond traditional products and exploring new opportunities for development is indeed admirable.” Speaking at the R&D nutrition centre opening, Simon Coveney, TD, Minister for Foreign Affairs and Trade, said “PepsiCo has grown significantly since it opened its first facility here in Cork in 1974. The establishment of this R&D Nutrition Centre is testament to the skilled talent base and innovative systems and approaches available here in Cork. Ireland was recently named as the best country in the world for attracting high-value FDI for the sixth year in a row and PepsiCo’s continued growth in Cork serves to enhance Ireland’s offering.” Dr. Jan Weststrate, Senior Vice President R&D Global Nutrition, PepsiCo, commented “R&D is at the heart of PepsiCo and we are proud of our achievements here in Cork. The expansion means we can continue to drive growth in our premium everyday nutrition brands. The R&D Nutrition Centre in Cork specialises in product development, processing technology and analytical science. The availability of educated talent and access to an innovation ecosystem, which enables cross fertilisation of ideas and acceleration of innovation, were factors in deciding to locate here. The new centre in Cork is an important strategic hub for PepsiCo, offering great potential for cross-platform synergies and talent development. “In 2006, we started on a journey to transform the way we do business, called Performance with Purpose, and it is our fundamental belief that the success of our company is inextricably linked to the sustainability of the world around us. We recognise that we have a tremendous opportunity to use our global scale and resources to influence positive change across our entire value chain. Our goal is for the sales growth rate of our nutrition products to outpace the sales growth rate of the balance of our portfolio. Our new nutrition centre in Cork brings us closer to realising this goal,” said Dr. Weststrate. Marking the occasion, Martin Shanahan, CEO, IDA Ireland, said “This new R&D Nutrition Centre is a huge vote of confidence in Ireland as a location for world class research and positions the Irish company at the strategic centre of the global business. PepsiCo’s R&D activity in Cork strengthens Ireland’s position globally as a location of choice for food and beverage innovation.” PepsiCo’s R&D operations at Cork have steadily expanded over the last five years to include work on Snacks, regulatory activity and most recently dairy with the opening of its Global Dairy Centre of Excellence last year. The new Fruit and Vegetable R&D team for Western Europe with be housed alongside the existing teams in the expanded R&D Centre.