Coca-cola Company (the) · NYSE:KO

Coca-cola Company (the) — The Coca-Cola Company — Q4 2015 Earnings Presentation

20 slides from Coca-cola Company (the)'s earnings presentation, Feb 9, 2016

1. Slide 1: Fourth Quarter 2015 Earnings Call

   Fourth Quarter 2015 Earnings Call February 9, 2016 CAGNY 2016

2. Slide 2: Forward-Looking Statements

   Forward-Looking Statements This presentation may contain statements, estimates or projections that constitute “forward-looking statements” as defined under U.S. federal securities laws. Generally, the words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “project,” “will” and similar expres

3. Slide 3: Topics for Discussion

   Topics for Discussion Strategic Actions and Progress Operational Highlights Financial Review Q&A

4. Slide 4: We Made Significant Progress in Our Transition Year

   We Made Significant Progress in Our Transition Year Strategic Actions 1 Drive revenue growth through segmented market roles 2 Make disciplined brand and growth investments 3 Drive productivity and continuous improvement 4 Streamline and simplify 5 Focus on core business model CAGNY 2016 4

5. Slide 5: We Are Significantly Accelerating the Pace and Scale of Our Refranchising Plans

   We Are Significantly Accelerating the Pace and Scale of Our Refranchising Plans North America System Today By the End of 2017 Over 40% Under Agreement or 100% Refranchised Transitioned CAGNY 2016 5

6. Slide 6: Strengthening Our Global Bottler System

   Strengthening Our Global Bottler System 2-Bottler Coca-Cola Coca-Cola CHINA CHINA Strategy for EUROPE European AFRICA Beverages Mainland China Partners Africa CAGNY 2016 6

7. Slide 7: New Global Marketing Campaign

   New Global Marketing Campaign Product at the Heart of the Creative Transforming the Way We Work Built End-to-End from the Start Consumer, Shopper, Digital, Music Reduce Agencies & Leverage Production Costs CAGNY 2016 7

8. Slide 8: Adding Value to Our Leading Brand Portfolio

   Adding Value to Our Leading Brand Portfolio 2015 Value Share Key Brand Investments Total NARTD Core Sparkling Packaged Water Juice/Juice Drinks Energy RTD Tea CAGNY 2016 8

9. Slide 9: Clear Plan to Transform The Company

   Clear Plan to Transform The Company We still have much work to do Focused on core business of building brands and leading the system Greater confidence to achieve long-term growth targets CAGNY 2016 9

10. Slide 10: Operational Highlights

    2) Cd <= a = 30 — o ¢ 9 Cd © Sen cD) ok O

11. Slide 11: We Delivered Our Plan in Our Transition Year

    We Delivered Our Plan in Our Transition Year Winning Metrics: Q4 FY Value Share - Sparkling - Still - NARTD Growth/Profit Metrics: Q4 Growth FY Growth Unit Cases 3% 2% Organic Revenue* -1% 4% - Volume (Concentrate Sales / Reported Volume) -3% 1% - Price/Mix 2% 2% Income Before Taxes** -2% 6% Cash/Re

12. Slide 12: Top-line Growth Led by Our Flagship Market of North America

    Top-line Growth Led by Our Flagship Market of North America Strongest annual Strategic focus performance in on smaller 4% Organic Revenue Growth three years packages More value per occasion 3% Price Realization CAGNY 2016 12

13. Slide 13: Our Underlying Performance Is Expected To Be within Our Long-Term Targets in 2016

    Our Underlying Performance Is Expected To Be within Our Long-Term Targets in 2016 Global economy remains challenged Focus on what we can control Deliver on our plan for 2016 Drive solid organic revenue growth and strong underlying operating margin expansion CAGNY 2016 13

14. Slide 14: Financial Review

    Financial Review North America Productivity 2016 Outlook

15. Slide 15: Starting in 2016, CCR Will Be Reported within Bottling Investments Group

    Starting in 2016, CCR Will Be Reported within Bottling Investments Group Enables management to view underlying performance of core business in North America Majority of structural impacts will now be reported within a single operating segment Providing detailed structural guidance for 2016 Revised o

16. Slide 16: Productivity Program Is Evolving Due to Accelerated Refranchising

    Productivity Program Is Evolving Due to Accelerated Refranchising Marketing Total COGS Opportunity Opex Efficiencies Productivity Original $3B $1.4B $1.0B $0.6B Plan Net Impact* CAGNY 2016 16 *Net impact from refranchising, offset by incremental productivity opportunities identified

17. Slide 17: 2016 Outlook

    2016 Outlook Back on our long-term growth algorithm (ex structural) despite continued challenging macros Topline • 4 to 5% Organic Revenue Growth • 4 to 5% Net Headwind from Acquisitions & Divestitures • 4% Currency Headwind Profit* • 6 to 8% Income Before Tax Growth • 3 to 4% Structural Headwind •

18. Slide 18: Q1 2016 Considerations

    Q1 2016 Considerations Calendar • One less day in reporting calendar Currency • 5 point headwind on net revenues • 12 point headwind on income before taxes Acquisitions & Divestitures • Slight headwind on net revenues / Structural • 2 point headwind on income before taxes CAGNY 2016 18

19. Slide 19: Summary

    Summary 2015 financial performance slightly ahead of expectations Working diligently to deliver our 2016 commitments Continued focus on core Returning to lower risk and higher return business Even greater confidence to achieve our long-term growth targets CAGNY 2016 19

20. Slide 20: Q&A

    Q&A CAGNY 2016

The Coca-Cola Company — Q4 2015 Earnings Presentation on 6ix