Performance Food Group and US Foods to share information ahead of potential merger

September 16, 2025 RICHMOND, VA and ROSEMONT, IL –(BUSINESS WIRE)–Performance Food Group Company BB #:137847 today announced that it has entered into a clean team agreement with US Foods Holding Corp. BB #:134354 that enables the companies to share information in order to evaluate regulatory considerations and the synergies related to a potential business combination.

In recent weeks, members of the PFG Board and management team engaged with several of PFG’s large stockholders to hear their perspectives, and the Company is committed to continuing that dialogue. The Company also engaged with US Foods on how the two companies could most effectively explore a potential business combination while safeguarding confidential information.

Following these conversations, the PFG Board, along with its independent financial and legal advisors, concluded that there was sufficient basis to begin information sharing. The companies are therefore initiating a clean team process consisting of a group of independent lawyers, economists and consultants who will perform analysis using more detailed confidential information.

There can be no assurance that this information sharing will result in any transaction proposal, or any assurance as to its outcome or timing. PFG does not intend to make additional comments regarding this matter unless and until a definitive agreement is executed or PFG and US Foods terminate discussions.

US Foods does not intend to make additional comments regarding this matter unless and until a definitive agreement is executed or US Foods and PFG terminate discussions.

Morgan Stanley & Co. LLC and Centerview Partners LLC are serving as financial advisors to US Foods and Wachtell, Lipton, Rosen & Katz is serving as legal counsel.

About US Foods
With a promise to help its customers Make It, US Foods is one of America’s great food companies and a leading foodservice distributor, partnering with approximately 250,000 customer locations to help their businesses succeed. With more than 70 broadline locations and more than 90 cash and carry stores, US Foods and its 30,000 associates provides its customers with a broad and innovative food offering and a comprehensive suite of e-commerce, technology and business solutions. US Foods is headquartered in Rosemont, Ill. Visit www.usfoods.com to learn more.

About Performance Food Group Company
Performance Food Group is an industry leader and one of the largest food and foodservice distribution companies in North America with more than 150 locations. Founded and headquartered in Richmond, Virginia, PFG and our family of companies market and deliver quality food and related products to over 300,000 locations including independent and chain restaurants; businesses, schools and healthcare facilities; vending and office coffee service distributors; and big box retailers, theaters and convenience stores. PFG’s success as a Fortune 100 company is achieved through our approximately 43,000 dedicated associates committed to building strong relationships with the valued customers, suppliers and communities we serve. To learn more about PFG, visit pfgc.com.