Founded on Food,Focused on Service

Q1 FY2017 Earnings Call • November 8, 2016

Forward Looking Statements

• This presentation includes, and our response to various questions may include, certain forward‐looking statements, estimates, and projections with respect to our anticipated future performance, including the statements in the “Fiscal 2017 Outlook” section of this presentation (collectively, “Forward‐Looking Statements”). Words such as “estimates,” “expects,” “contemplates,” “anticipates,” “projects,” “plans,” “intends,” “believes,” “forecasts,” “may,” “could,” “should,” and variations of such words or similar expressions are intended to identify Forward‐Looking Statements.

• Forward‐Looking Statements reflect various assumptions of the Company’s management that may or may not prove to be correct and are not guarantees of the Company’s future performance or results. The Company’s actual results could differ materially from those anticipated in the Forward‐Looking Statements.

• These Forward‐Looking Statements are subject to various risks and uncertainties, including those described in the “Item 1A. Risk Factors” section in our Annual Report on Form 10-K for the fiscal year ended July 2, 2016, which was filed with the Securities and Exchange Commission (the “SEC”) on August 30, 2016, as such factors may be updated from time to time in the Company’s periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov.

• The Company is not required and does not intend to update or alter any Forward‐Looking Statements in this presentation or any other information that may be furnished to any recipient, whether as a result of new information, future events, or otherwise.

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Statement Regarding Non-GAAP Financial Measures

• This presentation includes several financial measures that are not calculated in accordance with GAAP, including EBITDA, Adjusted EBITDA, and Adjusted Diluted Earnings per Share.

• Such measures are not recognized terms under GAAP, should not be considered in isolation or as a substitute for measures prepared in accordance with GAAP, and are not indicative of net income (loss) as determined under GAAP.

• EBITDA, Adjusted EBITDA and Adjusted Diluted Earnings per Share and other non-GAAP financial measures have limitations that should be considered before using these measures to evaluate the Company’s liquidity or financial performance.

• EBITDA, Adjusted EBITDA and Adjusted Diluted Earnings per Share, as presented, may not be comparable to similarly titled measures of other companies because of varying methods of calculation.

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George HolmChief Executive Officer

Q1 FY2017 Highlights

• Our underlying business performed well in the quarter

We grew total cases by 6.5% with incremental market share gains

The 6.5% total case growth is one of our best growth quarters since fiscal 2015 despite our national account business softening in the quarter

• Our Performance Foodservice segment reported strong independent case growth of 8% and double-digit independent Performance Brands case growth

• We experienced an increase in new business transition costs and corporate expenses during the quarter, leading to Adjusted EBITDA coming in below our expectations

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Continued Progress on Key Initiatives

• PFG Customized expects in 2H FY2017 to offset the effect of planned exits of certain customers to free up capacity for the addition of new business with Red Lobster

Began providing distribution solutions to a portion of Red Lobster’s restaurants in Q1 FY2017

Now delivering to all 678 domestic restaurants

• Expect to generate approximately $400 million in incremental annual net sales this fiscal year, in line with what we communicated last quarter

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Continued Progress on Key Initiatives

• In late Q4 FY2016, Vistar began service into new geographies in the dollar store channel, which required additional expense with a second distribution center to service the customer

Productivity subsequently improved through Q1 FY2017

The additional expense will remain for the next several quarters until the volume can be efficiently integrated into Vistar’s distribution network

• Vistar’s new prototype distribution center for handling pick-and-pack volume more efficiently is being integrated

The new distribution center is now shipping product, and productivity is progressing each month

Vistar will continue with two distribution centers until facilities have been fully integrated

Once the project is fully operational it will drive future productivity and profitability

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Tom OndrofChief Financial Officer

Q1 FY2017 Financial Results

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$MM, except per shareQ1 FY2017 Growth vs. PY

Cases + 6.5%

Net Sales $ 4,046.1 + 3.0%

Gross Profit 511.3 + 6.3%

Operating Expense 479.7 + 9.7%

Operating Profit 31.6 (28.2%)

Net Income 12.2 Unchanged

Diluted EPS 0.12 (14.3%)

Adjusted EBITDA1 76.0 (5.1%)

Adj. EBITDA1/Gross Profit 14.9% (170) bps

Adjusted Diluted EPS1 $ 0.20 (4.8%)

1 For reconciliation of non-GAAP to GAAP measures see the Appendix

Q1 FY2017 Segment Results

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Net Sales EBITDA

$ MM % vs. PY $ MM % vs. PY

Performance Foodservice $ 2,436.4 2.9% $ 73.8 4.7%

PFG Customized $ 867.3 (6.5%) $ 3.9 (46.6%)

Vistar $ 741.5 17.3% $ 22.6 0.9%

Q1 FY2017 Cash Flow and Balance Sheet

• YTD Cash Flow highlights

Operating Cash Flow of ($75.2) vs. ($25.9) PY

CapEx of ($34.8) vs. ($17.7) PY

Acquisitions of ($14.8) vs. ($8.9) PY

• Net Debt

Q4 FY2016: $1,134.6MM

Q1 FY2017: $1,257.7MM

Increase vs. PY: $ 123.1MM

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FY2017 Outlook

• Due to Q1 FY2017 results, the remaining impact of new business transaction costs, and other strategic investments into the second fiscal quarter, the Company now expects Adjusted EBITDA in 1H FY2017 to be down slightly versus the prior year

• 2H FY2017 Adjusted EBITDA growth is expected to be in the mid-to-high teens range versus the second half of fiscal 2016, excluding the extra week

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52 vs. 52 weeks 52 vs. 53 Weeks

PFGC provides fiscal 2017 Adjusted EBITDA1 growth versus PY outlook:

7%-9% 5%-7%

PFGC provides fiscal 2017 Adjusted Diluted EPS1 growth versus PY outlook:

27%-31% 24%-28%

1PFG’s Adjusted EBITDA and Adjusted Diluted EPS outlook exclude 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, loss on early extinguishment 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 and its reported Diluted EPS because these items, 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 and Adjusted Diluted EPS outlook. Please see the “Forward-Looking Statements” section of this release for a discussion of certain risks to PFG’s outlook.

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What we really do is deliver.

Non-GAAP Financial MeasuresPERFORMANCE FOOD GROUP COMPANY Non-GAAP Reconciliation (Unaudited)

Three months ended

($ in millions, except per share data)

October 1, 2016

September 26, 2015

Change

%

Net income (GAAP) .......................................................................................... $ 12.2 $ 12.2 $ — — Interest expense, net ............................................................................................ 12.9 21.0 (8.1) (38.6)Income tax expense ............................................................................................. 7.3 8.6 (1.3) (15.1)Depreciation ........................................................................................................ 20.8 18.9 1.9 10.1 Amortization of intangible assets ........................................................................ 8.7 9.3 (0.6) (6.5) EBITDA .............................................................................................................. 61.9 70.0 (8.1) (11.6)Impact of non-cash items (A) .............................................................................. 4.7 (0.4) 5.1 N/M Impact of acquisition, integration & reorganization charges (B) ........................ 2.4 2.8 (0.4) (14.3)Impact of non-recurring items (C) ...................................................................... — 2.6 (2.6) N/M Impact of productivity initiatives (D).................................................................. 4.1 2.3 1.8 78.3Impact of other adjustment items (E) .................................................................. 2.9 2.8 0.1 3.6 Adjusted EBITDA (Non-GAAP) ..................................................................... $ 76.0 $ 80.1 $ (4.1) (5.1) Diluted earnings per share (GAAP) ................................................................ $ 0.12 $ 0.14 $ (0.02) (14.3)Impact of non-cash items .................................................................................... 0.04 — 0.04 N/M Impact of acquisition, integration & reorganization charges............................... 0.02 0.03 (0.01) (33.3)Impact of non-recurring items ............................................................................. — 0.03 (0.03) N/M Impact of productivity initiatives ........................................................................ 0.04 0.03 0.01 33.3 Impact of other adjustment items ........................................................................ 0.03 0.03 — — Tax impact of adjustments .................................................................................. (0.05) (0.05) — — Adjusted Diluted Earnings per Share (Non-GAAP) ...................................... $ 0.20 $ 0.21 $ (0.01) (4.8)

A. Includes adjustments for non-cash charges arising from employee stock-based compensation, interest rate swap hedge

ineffectiveness, and gain/loss on disposal of assets. Stock-based compensation cost was $4.2 million and $1.1 million for the first quarter of fiscal 2017 and fiscal 2016, respectively. In addition, this includes an increase in the LIFO reserve of $0.6 million for the first quarter of fiscal 2017 and a decrease in the LIFO reserve of $1.7 million for the first quarter of fiscal 2016.

B. Includes professional fees and other costs related to completed and abandoned acquisitions, costs of integrating certain of our facilities, facility closing costs, and advisory fees paid to Blackstone and Wellspring.

C. The first quarter of fiscal 2016 includes the withdrawal expense from a purchasing cooperative of which we were a member and pre-acquisition worker’s compensation claims related to an insurance company that went into liquidation.

D. Consists primarily of professional fees and related expenses associated with the Winning Together program and other productivity initiatives.

E. Consists primarily of changes in fair value and costs related to settlements on our fuel collar derivatives, certain financing transactions, lease amendments, and franchise tax expense and other adjustments permitted under our credit agreements. Additionally, the first quarter of fiscal 2017 includes the settlement of the Wilder class action case.