The Pepsi Bottling Group, Inc. (PBG) was incorporated in Delaware in January, 1999, as a
wholly owned subsidiary of PepsiCo, Inc. (PepsiCo) to effect the separation of most of PepsiCos
company-owned bottling businesses. PBG became a publicly traded company on March 31, 1999. As of
January 26, 2007, PepsiCos ownership represented 38.3% of the outstanding common stock and 100% of
the outstanding Class B common stock, together representing 44.4% of the voting power of all
classes of PBGs voting stock. PepsiCo also owned approximately 6.7% of the equity interest of
Bottling...