Performance Food Group Company (PFGC) Proxy Filing summary

Executive summary

• Sachem Head LP nominated four candidates for election to the board at the 2025 annual meeting, prompting a public response and review process.

• The current board and management emphasize strong recent performance, including top- and bottom-line growth and margin expansion across all business segments in fiscal 2025.

• Fiscal 2026 revenue and EBITDA guidance aligns with the ongoing three-year strategic plan focused on organic sales growth, culture, and technology-driven margin expansion.

• The board remains open to evaluating bona fide, value-enhancing transaction proposals, including those suggested by Sachem Head, but stresses the need for high standards regarding value, speed, and certainty.

• No immediate action is required from shareholders, and the annual meeting date has not yet been set.

Voting matters and shareholder proposals

• Sachem Head submitted a nomination notice for four director candidates: Scott D. Ferguson, David A. Toy, R. Chris Kreidler, and Karen M. King.

• The board’s Nominating and Corporate Governance Committee will review the nominations and interview the nominees per established processes.

• Shareholders will receive recommendations regarding the nominees in due course.

Board of directors and corporate governance

• The board regularly reviews its composition to ensure alignment with evolving business needs and effective oversight.

• Directors bring expertise in foodservice, executive leadership, finance, supply chain, technology, capital allocation, and M&A.

• The board is described as engaged, experienced, and focused on generating shareholder value.

• BofA Securities and JP Morgan are financial advisors; Skadden, Arps, Slate, Meagher & Flom LLP is legal advisor.