Performance Food Group Co

In addition to historical information, this Quarterly Report on Form 10-Q (this “Form 10-Q”) may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which are subject to the “safe harbor” created by those sections. All statements, other than statements of historical facts included in this Form 10-Q, including statements concerning our plans, objectives, goals, beliefs, business strategies, future events, business conditions, results of operations, financial position, business outlook, business trends, and other information, and integration of our acquisition of Cheney Bros., Inc. (the “Cheney Brothers Acquisition”), are forward-looking statements. Words such as “estimates,” “expects,” “contemplates,” “will,” “anticipates,” “projects,” “plans,” “intends,” “believes,” “forecasts,” “may,” “should” and variations of such words or similar expressions are intended to identify forward-looking statements. The forward-looking statements are not historical facts, and are based upon our current expectations, beliefs, estimates and projections, and various assumptions, many of which, by their nature, are inherently uncertain and beyond our control. Our expectations, beliefs, estimates, and projections are expressed in good faith and we believe there is a reasonable basis for them. However, there can be no assurance that management’s expectations, beliefs, estimates and projections will result or be achieved, and actual results may vary materially from what is expressed in or indicated by the forward-looking statements.

There are a number of risks, uncertainties, and other important factors, many of which are beyond our control, that could cause our actual results to differ materially from the forward-looking statements contained in this Form 10-Q. Such risks, uncertainties and other important factors that could cause actual results to differ include, among others, the risks, uncertainties and factors set forth under Part I, Item 1A. Risk Factors in our Annual Report on Form 10-K for the fiscal year ended June 28, 2025 (the “Form 10-K”), as such risk factors may be updated from time to time in our periodic filings with the Securities and Exchange Commission (the “SEC”), and are accessible on the SEC’s website atwww.sec.gov, and also include the following:

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costs and risks associated with a potential cybersecurity incident or other technology disruption;

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our reliance on technology and risks associated with disruption or delay in implementation of new technology, including artificial intelligence;

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economic factors, including inflation or other adverse changes such as a downturn in economic conditions, geopolitical events, tariff increases, or a public health crisis, negatively affecting consumer confidence and discretionary spending;

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our reliance on third-party suppliers;

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labor relations and cost risks and availability of qualified labor;

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competition in our industry is intense, and we may not be able to compete successfully or adjust cost structure where one or more of our competitors successfully implement lower costs;

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we operate in a low margin industry, which could increase the volatility of our results of operations;

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our profitability is directly affected by cost inflation and deflation, commodity volatility, and other factors;

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we do not have long-term contracts with certain customers;

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group purchasing organizations may become more active in our industry and increase their efforts to add our customers as members of these organizations;

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changes in eating habits of consumers;

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extreme weather conditions, including hurricane, earthquake and natural disaster damage and extreme heat or cold;

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volatility of fuel and other transportation costs;

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our inability to increase our sales in the highest margin portion of our business;

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changes in pricing practices of our suppliers;

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our growth and innovation strategy may not achieve the anticipated results;

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risks relating to acquisitions, including the risk that we are not able to realize benefits of acquisitions or successfully integrate the businesses we acquire or that we incur significant integration costs;

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a portion of our sales volume is dependent upon the distribution of cigarettes and other tobacco products, sales of which are generally declining;

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negative media exposure and other events that damage our reputation;

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impact of uncollectibility of accounts receivable;

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the cost and adequacy of insurance coverage and increases in the number or severity of insurance and claims expenses;

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the potential impacts of shareholder activists or potential bidders;

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the integration of artificial intelligence into our processes;

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environmental, health, and safety costs, including compliance with current and future environmental laws and regulations relating to carbon emissions and climate change and related legal or market measures;

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our inability to comply with requirements imposed by applicable law or government regulations, including increased regulation of e-vapor products and other alternative nicotine products;

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increase in excise taxes or reduction in credit terms by taxing jurisdictions;

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the potential impact of product recalls and product liability claims relating to the products we distribute and other litigation;

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adverse judgments or settlements or unexpected outcomes in legal proceedings;

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risks relating to our outstanding indebtedness, including the impact of interest rate increases on our variable rate debt;

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our ability to raise additional capital on commercially reasonable terms or at all; and

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the possibility that the expected synergies and other benefits from the Cheney Brothers Acquisition will not be realized or will not be realized within the expected time period.

We caution you that the risks, uncertainties, and other factors referenced above may not contain all of the risks, uncertainties, and other factors that are important to you. In addition, we cannot assure you that we will realize the results, benefits, or developments that we expect or anticipate or, even if substantially realized, that they will result in the consequences or affect us or our business in the way expected. We cannot assure you (i) we have correctly measured or identified all of the factors affecting our business or the extent of these factors’ likely impact, (ii) the available information with respect to these factors on which such analysis is based is complete or accurate, (iii) such analysis is correct, or (iv) our strategy, which is based in part on this analysis, will be successful. All forward-looking statements in this report apply only as of the date of this report or as of the date they were made and, except as required by applicable law, we undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise.

Unless this Form 10-Q indicates otherwise or the context otherwise requires, the terms “we,” “our,” “us,” “the Company,” or “PFG” as used in this Form 10-Q refer to Performance Food Group Company and its consolidated subsidiaries.