Coca Cola European Partners : Taste the feeling – Action on climate now - Presentation

Taste the feeling

Analysts & investors briefing

Joe Franses

VP Sustainability

Sarah Willett

VP Investor Relations & Corporate Strategy

FORWARD LOOKING STATEMENTS

This presentation contains statements, estimates or projections that constitute "forward-looking statements" concerning the financial condition, performance, results, strategy and objectives of Coca-Cola European Partners plc and its subsidiaries (together "CCEP"), CCEP's proposed acquisition (the "Acquisition") of Coca-Cola Amatil Limited and its subsidiaries (together "CCL") and the integration of CCL into CCEP. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "plan," "seek," "may," "could," "would," "should," "might," "will," "forecast," "outlook," "guidance," "possible," "potential," "predict," "objective" and similar expressions identify forward-looking statements, which generally are not historical in nature.

Forward-looking statements are subject to certain risks that could cause actual results to differ materially from CCEP's and CCL's historical experience and present expectations or projections, including with respect to the Acquisition. As a result, undue reliance should not be placed on forward-looking statements, which speak only as of the date on which they are made. These risks include but are not limited to:

1. those set forth in the "Risk Factors" section of CCEP's 2019 Integrated Report / Annual Report on Form 20-F, including the statements under the following headings: Packaging (such as marine litter and single use plastics); Perceived health impacts of our beverages and ingredients, and changing consumer preferences (such as sugar alternatives); Legal, regulatory and tax change (such as the development of regulations regarding packaging, taxes and deposit return schemes); Market (such as disruption due to customer negotiations, customer consolidation and route to market); Cyber and social engineering attacks; Competitiveness and transformation; Climate change and water (such as net zero emission legislation and regulation, and resource scarcity); Economic and political conditions (such as continuing developments in relation to the UK's exit from the EU); The relationship with TCCC and other franchisors; Product quality; and Other risks (such as widespread outbreaks of infectious disease including the adverse impact that the COVID-19 pandemic and related social distancing measures implemented in many of our markets, and any associated economic downturn, may have on our financial results, operations, workforce and demand for our products);
2. those set forth in the "Principal Risks" section of CCEP's 2019 Integrated Report / Annual Report on Form 20-F, as updated in CCEP's Results for the six months ended 26 June 2020 & COVID-19 update and including principal risks under the additional headings: Business continuity; People (such as working conditions and wellbeing); and Stakeholders; and
3. risks and uncertainties relating to the Acquisition, including the risk that the businesses will not be integrated successfully or such integration may be more difficult, time-consuming or costly than expected, which could result in additional
   demands on CCEP's resources, systems, procedures and controls, disruption of its ongoing business and diversion of management's attention from other business concerns; the possibility that certain assumptions with respect to CCL or the Acquisition could prove to be inaccurate; the failure to receive, delays in the receipt of, or unacceptable or burdensome conditions imposed in connection with, all required regulatory approvals, shareholder approvals and the satisfaction of closing conditions to the Acquisition; ability to raise financing; the possibility that CCEP and CCL fail to agree upon a scheme implementation agreement; the potential that the Acquisition may involve unexpected liabilities for which there is no indemnity; the potential failure to retain key employees of CCEP and CCL as a result of the proposed Acquisition or during integration of the businesses and disruptions resulting from the proposed Acquisition, making it more difficult to maintain business relationships; the potential if the Acquisition is not completed in a timely manner or at all for (i) negative reaction from financial markets, customers, regulators, employees and other stakeholders, (ii) loss of time spent on an unsuccessful Acquisition, and (iii) litigation related to the Acquisition.

The full extent to which the COVID-19 pandemic will negatively affect CCEP and/or CCL and the results of their operations, financial condition and cash flows will depend on future developments that are highly uncertain and cannot be predicted, including the scope and duration of the pandemic and actions taken by governmental authorities and other third parties in response to the pandemic.

Due to these risks, CCEP's actual future results, dividend payments, and capital and leverage ratios may differ materially from the plans, goals, expectations and guidance set out in forward-looking statements (including those issued by CCL prior to the Acquisition). These risks may also adversely affect CCEP's share price. Additional risks that may impact CCEP's future financial condition and performance are identified in filings with the United States Securities and Exchange Commission ("SEC") which are available on the SEC's website at www.sec.gov. CCEP does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required under applicable rules, laws and regulations. Furthermore, CCEP assumes no responsibility for the accuracy and completeness of any forward-looking statements. Any or all of the forward-looking statements contained in this filing and in any other of CCEP's public statements (whether prior or subsequent to the Acquisition) may prove to be incorrect.

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1 2040 NET-ZERO AMBITION

Across our entire value chain (scope1 1, 2 & 3)

2 2030 CARBON REDUCTION TARGET

Absolute greenhouse gas (GHG) emissions reduction across our entire value chain by 30%2

3

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LONG TERM INCENTIVE PLAN

15% weighting on GHG reduction3

2023 SUPPLIER ENGAGEMENT TARGET

100% of our strategic4 suppliers to set science-based targets & use 100% renewable electricity

[1]: Scope 1 = Direct emissions from owned or controlled sources, Scope 2 = Indirect emissions from the generation of purchased electricity, Scope 3 = Indirect emissions that occur in the value chain, including both upstream and downstream; [2] vs 2019; [3] Awards in 2020 were granted with a C02 reduction metric and it is intended future awards will continue to have this focus subject to periodic review by the board; [4] Strategic suppliers include key packaging, ingredients, refrigeration & 3rd party transport suppliers. c100 of our suppliers are responsible for over 90% of our scope 3 emissions. 4

STRONG CREDENTIALS; BUT MUST PROGRESS FURTHER, FASTER

A A A R a t i n g

F T S E 4 G O O D

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HUMAN ACTIVITY

HAS ALREADY CAUSED APPROX. 1.0°C OF

GLOBAL WARMING OVER PRE-INDUSTRIALLEVELS

ATMOSPHERIC CO2

LEVELS, PARTS

PER MILLION	400

350

300

1000	1100	1200	1300	1400	1500	1600	1700	1800	1900	2018
MINIMAL FLUCTUATION OF ATMOSPHERIC CO2 LEVELS		UPTURN		UNSUSTAINABLE
								TRIGGERED	CO2 EMISSIONS
								BY INDUSTRIAL

REVOLUTION

SOURCES: CDIAC; NOOA	6

GLOBAL EMISSIONS TO NET

ZERO BY 2050 IF WE ARE TO MEET THE PARIS CLIMATE AGREEMENT

To limit further global temperature increases, global net emissions must decline by about 45% from 2010 levels by 2030, reaching net zero around 2050.

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GLOBAL CARBON REDUCTIONS

KEEPING

PACE WITH CLIMATE SCIENCE

Source:https://climateactiontracker.org/global/cat-thermometer/	8

WE ARE ACCELERATING CHANGE TOWARDS A LOW-CARBON MODEL TO DRIVE GROWTH & REDUCE RISK

BUSINESS IMPACTS: PHYSICAL RISKS OF CLIMATE CHANGE

CHANGES TO WEATHER AND

EXTREME WEATHER EVENTS

PRECIPITATION PATTERNS

Limits availability of ingredients and raw materials

Disrupts production

Disrupts / limits distribution

WATER SCARCITY

Disrupts / limits production

BUSINESS IMPACTS: RISKS OF TRANSITION TO LOW CARBON ECONOMY

GHG REGULATION

CHANGES TO

CONSUMER PERCEPTIONS

Increases cost of packaging materials

Increases cost of operations and commercial sites, distribution and cold-drink equipment

Reputational risk

WATER REGULATION

Disrupts / limits production

AGRICULTURE &	PACKAGING	OPERATIONS AND	DISTRIBUTION	COLD DRINK	CUSTOMERS AND
INGREDIENTS	COMMERCIAL		EQUIPMENT	COMMUNITIES
		SITES

Source: CCEP climate risk scenario analysis, in line with Task Force on Climate Related Financial Disclosures recommendations: https://www.cocacolaep.com/sustainability/download-centre/	9

GHG PROTOCOL

SCOPE 1

Direct emissions from owned or controlled sources.

e.g. manufacturing, owned transportation

SCOPE 2

Indirect emissions from the generation of purchased energy.

e.g. purchasing 100% renewable electricity

SCOPE 3

Indirect emissions that occur in the value chain e.g. ingredients, packaging, 3rd party transportation, coolers

Source:https://ghgprotocol.org/standards	10

BY SOURCE

BREAKDOWN 2019

* Reduction versus 2010	11

BY SCOPE

BREAKDOWN 2019

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Nov 2017

1. Reduce GHG1 emissions on core business by 50%2 by 2025
2. Reduce GHG1 emissions across entire value chain3 by 35%2 by 2025

'WELL BELOW' 2º TRAJECTORY

Our progress

in 2019

1. 52%
2. 30.5%

Dec 2020

2040 NET-ZERO AMBITION

Across our entire value chain3

2030 CARBON REDUCTION TARGET

Absolute GHG1 emissions reduction across our entire value chain3 by 30%4

IN LINE WITH A 1.5º TRAJECTORY

[1] Greenhouse gas; [2] vs 2010 [3] Scope 1,2 & 3; [4] vs 2019	13

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We aim to reduce our emissions by 30% across our value chain1

[1] By 2030; vs 2019. Notes. CDE = Cold Drink Equipment, also referred to as "coolers": Fugitive CO2 reduction refers to the loss of CO2 as an ingredient that occurs when we cap our products. HFC = Hydrofluorocarbon. OFUs = Open fronted unit (most	15
have been retrofitted with doors), to be replaced with more energy efficient equipment.

2030 CARBON REDUCTION TARGET

To reduce absolute GHG emissions across entire value chain1 by 30% by 2030 (vs 2019)

[1] Scope 1, 2 & 3. Notes. CDE = Cold Drink Equipment, also referred to as "coolers": Fugitive CO2 reduction refers to the loss of CO2 as an ingredient that occurs when we cap our products	16

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Q & A

Please use the Q&A feature, select "All Panelists" from the drop down on the righthand-side of the screen and submit your question

We'll aim to reach net-zero	We'll reduce greenhouse gas	We'll integrate a carbon reduction	We'll aim for 100% of our strategic
emissions across our entire value	emissions across our value chain	suppliers4 to set science-based targets and
metric into our LTIP3
chain1 by 2040	by 30% by 20302		use 100% renewable electricity by 2023

[1]: Scope 1 = Direct emissions from owned or controlled sources, Scope 2 = Indirect emissions from the generation of purchased electricity, Scope 3 = Indirect emissions that occur in the value chain, including both upstream and downstream; [2] vs 2019; [3] Long term incentive plan. Awards in 2020
were granted with a C02 reduction metric and it is intended future awards will continue to have this focus subject to periodic review by the board; [4] Strategic suppliers include key packaging, ingredients, refrigeration & 3rd party transport suppliers. c100 of our suppliers are responsible for over 90% of	18
our scope 3 emissions.