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OFFON

THE COCA-COLA COMPANY

(KO)
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Coca Cola : Investor Overview - Updated for Second Quarter 2021

07/29/2021 | 09:39am EDT

INVESTOR OVERVIEW || THE COCA-COLA COMPANY

UPDATED FOR

SECOND QUARTER 2021

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 expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause The Coca-Cola Company's actual results to differ materially from its historical experience and our present expectations or projections. These risks include, but are not limited to, the negative impacts of the COVID-19 pandemic on our business; obesity and other health-related concerns; evolving consumer product and shopping preferences; increased competition; water scarcity and poor quality; increased demand for food products and decreased agricultural productivity; product safety and quality concerns; perceived negative health consequences of certain ingredients, such as non-nutritive sweeteners and biotechnology-derived substances, and of other substances present in our beverage products or packaging materials; an inability to be successful in our innovation activities; an inability to realize the economic benefits for our reorganization and related reduction in workforce; an inability to protect our information systems against service interruption, misappropriation of data or breaches of security; failure to comply with personal data protection and privacy laws; failure to digitize the Coca-Cola system; changes in the retail landscape or the loss of key retail or foodservice customers; an inability to expand operations in emerging and developing markets; fluctuations in foreign currency exchange rates; interest rate increases; an inability to maintain good relationships with our bottling partners; a deterioration in our bottling partners' financial condition; increases in income tax rates, changes in income tax laws or unfavorable resolution of tax matters, including the outcome of our ongoing tax dispute or any related disputes with the U.S. Internal Revenue Service (IRS); the possibility that the assumptions used to calculate our estimated aggregate incremental tax and interest liability related to the potential unfavorable outcome of the ongoing tax dispute with the IRS could significantly change, increased or new indirect taxes in the United States and throughout the world; an inability to successfully manage the possible negative consequences of our productivity initiatives; an inability to attract or retain a highly skilled and diverse workforce; increased cost, disruption of supply or shortage of energy or fuel; increased cost, disruption of supply or shortage of ingredients, other raw materials, packaging materials, aluminum cans and other containers; increasing concerns about the environmental impact of plastic bottles and other plastic packaging materials; changes in laws and regulations relating to beverage containers and packaging; significant additional labeling or warning requirements or limitations on the marketing or sale of our products; unfavorable general economic conditions in the United States; unfavorable economic and political conditions in international markets; unfavorable outcome of litigation or legal proceedings; conducting business in markets with high-risk legal compliance environments; failure by our third-party service providers and business partners to satisfactorily fulfill their commitments and responsibilities; failure to adequately protect, or disputes relating to, trademarks, formulae and other intellectual property rights; adverse weather conditions; climate change and legal or regulatory responses thereto; damage to our brand image, corporate reputation and social license to operate from negative publicity, whether or not warranted, concerning product safety or quality, workplace and human rights, obesity or other issues; changes in, or failure to comply with, the laws and regulations applicable to our products or our business operations; changes in accounting standards; an inability to achieve our overall long-term growth objectives; deterioration of global credit market conditions; default by or failure of one or more of our counterparty financial institutions; an inability to renew collective bargaining agreements on satisfactory terms, or we or our bottling partners experience strikes, work stoppages or labor unrest; future impairment charges; multi-employer pension plan withdrawal liabilities in the future; an inability to successfully integrate and manage our company-owned or -controlled bottling operations or other acquired businesses or brands; an inability to successfully manage our refranchising activities; failure to realize a significant portion of the anticipated benefits of our strategic relationship with Monster Beverage Corporation; global or regional catastrophic events; and other risks discussed in our filings with the Securities and Exchange Commission (the "SEC"), including our Annual Report on Form 10-K for the year ended December 31, 2020 and our subsequently filed Quarterly Reports on Form 10-Q, which filings are available from the SEC. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. We undertake no obligation to publicly update or revise any forward-looking statements.

RECONCILIATION TO U.S. GAAP FINANCIAL INFORMATION

The following presentation includes certain "non-GAAP financial measures" as defined in Regulation G under the Securities Exchange Act of 1934. A schedule which reconciles our results as reported under Generally Accepted Accounting Principles and the non-GAAP financial measures included in the following presentation is attached as an appendix hereto.

The 2021 outlook information provided in this presentation includes forward-lookingnon-GAAP financial measures, which management uses in measuring performance. The company is not able to reconcile full year 2021 projected organic revenues (non-GAAP) to full year 2021 projected reported net revenues, full year 2021 projected underlying effective tax rate (non-GAAP) to full year 2021 projected reported effective tax rate or full year 2021 projected comparable EPS (non-GAAP) to full year 2021 projected reported EPS without unreasonable efforts because it is not possible to predict with a reasonable degree of certainty the actual impact of changes in foreign currency exchange rates; the exact timing and amount of acquisitions, divestitures and/or structural changes; and the exact

timing and amount of items impacting comparability throughout 2021. The unavailable information could have a significant impact on our full year 2021 reported financial results.

2

KEY THEMES FOR TODAY

PROGRESS ON EMERGING STRONGER

ACCELERATORS FOR GROWTH

DRIVERS OF SUSTAINABLE VALUE CREATION

OPERATING OVERVIEW

3

PROGRESS ON EMERGING STRONGER

TOOK ACTION TO ACCELERATE OUR TRANSFORMATION

Guided by our Purpose

Rooted in our Strategy

TOPLINE

RETURNS

Key Objectives

Win

More Consumers

Gain

Market Share

Strong

System Economics

Strengthen

Stakeholder Impact

Equip the

Organization to Win

4

PROGRESS ON EMERGING STRONGER

ENCOURAGED BY THE PROGRESS WE MADE DURING 2020

Key Objectives

Win

More Consumers

Gain

Market Share

Strong

System Economics

Strengthen

Stakeholder Impact

Equip the

Organization to Win

Key Priorities

1 Optimized portfolio of strong global, regional and scaled local brands

2 Disciplined innovation framework and increased marketing effectiveness

3 Stepped-up RGM and execution capabilities

4 Enhance our system collaboration and capture supply chain efficiencies

5 Evolve the organization and invest in new capabilities

Key Wins

  • Increased consumer base in ~35%* of markets during the year
  • Revenue per innovation was 1.5x versus 2019
  • Gained underlying market share in both at-home and away-from-home channels
  • Operationally strong bottling system with solid system alignment
  • Improved 2 points on water stress score in MSCI ratings update and achieved "A-" score on CDP ranking
  • Expanded Operating Margin** by ~170 bps and grew Free Cash Flow*** by 3%

* Based on data collected from a selection of 18 of top 40 markets

** Comparable (Non-GAAP)

*** Non-GAAP; Free Cash Flow = Cash from operations minus capital expenditures

5

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

The Coca-Cola Company published this content on 29 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 July 2021 13:38:13 UTC.


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