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EPFG NEWS RELEASE For Immediate Release November 10 , 2021 Performance Food Group Investors : William S. Marshall VP , Investor Relations ( 804 ) 287-8108 Bill.Marshall@pfgc.com First - Quarter Fiscal 2022 Highlights Performance Food Group Company Reports First - Quarter Fiscal 2022 Results Double - Digit Net Sales and Gross Profit Growth Driven by the Core - Mark Acquisition Total case volume grew approximately 27 % Net sales increased 47.4 % to $ 10.4 billion Media : Trisha Meade Director , Communications & Engagement ( 804 ) 285-5390 mediarelations@pfgc.com Gross profit improved 40.1 % to $ 1.1 billion Net income of $ 4.7 million compared to net loss of $ 0.7 million for the prior year period Adjusted EBITDA increased 35.9 % to $ 183.7 million¹ Diluted earnings per share ( " EPS " ) of $ 0.03 Adjusted Diluted EPS increased 72.0 % to $ 0.43¹ RICHMOND , Va . - Performance Food Group Company ( “ PFG ” or the " Company " ) ( NYSE : PFGC ) today announced its first - quarter fiscal 2022 business results . " Performance Food Group is off to a great start to fiscal 2022 , with a record level of sales and strong underlying business trends , " said George Holm , Performance Food Group's Chairman , President & Chief Executive Officer . " Our Foodservice segment's independent restaurant business maintained strong momentum . We are very pleased that our independent volume continues to build upon our outperformance last year . Independent cases are well above levels two years ago which would not be possible without the acceleration at Reinhart and strong contribution from the rest of our Foodservice business . We are also very pleased to see Vistar experience consistent sequential improvement as their key channels , including theater and offices , continue to recover . " In addition to the strong operating results in the fiscal first quarter , we closed the Core - Mark acquisition and welcomed their 8,000 associates to the PFG family of companies . The integration of that business is already ahead of schedule , and we had several important strategic wins within the first few weeks of owning the business . We have high expectations for Core - Mark and the value the transaction can create for PFG . The early results are very encouraging . Our business is operating from a position of strength and we believe we have the footprint and scale to be successful in the years ahead . " 1 This earnings release includes several metrics , including EBITDA , Adjusted EBITDA , Adjusted Diluted EPS and Free Cash Flow that are not calculated in accordance with Generally Accepted Accounting Principles in the U.S. ( " GAAP " ) . Please see " Statement Regarding Non - GAAP Financial Measures " at the end of this release for the definitions of such non - GAAP financial measures and reconciliations of such non - GAAP financial measures to their respective most comparable financial measures calculated in accordance with GAAP . 1