Reported Earlier: Performance Food Group Sees FY25 Outlook Net Sales Target Of $63B–$63.5B; Adjusted EBITDA $1.725B–$1.75B; Projects FY2028 Sales Of $73B–$75B; Adjusted EBITDA Of $2.3B–$2.5B, Announces New $500M Share Repurchase Program Through 2029 Replacing Prior $300M Plan

Performance Food Group Company (PFG) (NYSE:PFGC) today will host a webcast of its 2025 Investor Day beginning at approximately 9:00 a.m. ET. George Holm, PFG Chairman & Chief Executive Officer, Patrick Hatcher, Executive Vice President & Chief Financial Officer, Scott McPherson, President & Chief Operating Officer, and other members of the leadership team will present to the investment community.

PFG will video webcast the presentation in listen-only mode on investors.pfgc.com. An archived replay of the webcast will be made available later today. Pre-event registration is required.

Fiscal 2025 Outlook

PFG continues to expect net sales to be in a range of $63 billion to $63.5 billion and Adjusted EBITDA to be in a range of $1.725 billion to $1.75 billion. As previously disclosed, PFG's outlook for fiscal year 2025 includes expected business results for Cheney Brothers as of the close of the transaction.

3-Year Outlook

PFG expects to achieve annual sales of $73 billion to $75 billion and Adjusted EBITDA of $2.3 billion to $2.5 billion in fiscal 2028.

PFG's Adjusted EBITDA outlook excludes the impact of certain income and expense items that management believes are not part of underlying operations. These items may include, but are not limited to, losses on early extinguishments of debt, restructuring charges, certain tax items, and charges associated with non-recurring professional and legal fees associated with acquisitions. PFG's management cannot estimate on a forward-looking basis the impact of these income and expense items on its reported net income, which could be significant, are difficult to predict, and may be highly variable. As a result, PFG does not provide a reconciliation to the closest corresponding GAAP financial measure for its Adjusted EBITDA outlook. Please see the "Forward-Looking Statements" section of this release for a discussion of certain risks to PFG's outlook.

New Share Repurchase Program

On May 27, 2025, the Company's Board of Directors (the "Board") authorized a new share repurchase program for up to $500 million of the Company's common stock through May 27, 2029. This authorization replaces the previously authorized $300 million share repurchase program.