INVESTOR ESG EVENT

NOVEMBER 13, 2020

BEA PEREZ LORI BILLINGSLEY

Chief Communications, Sustainability Chief Diversity & Inclusion Officer
& Strategic Partnerships Officer
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 novel coronavirus (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 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; 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; 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
SEC, including our Annual Report on Form 10-K for the year ended December 31, 2019 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 at the date they are made. We undertake no obligation to publicly update or revise any forward-looking statements.

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OUR COCA-COLA TEAM HERE TODAY

BEA PEREZ LORI BILLINGSLEY TIM LEVERIDGE MARK PREISINGER

Chief Communications, Chief Diversity & Inclusion Officer Vice President & Investor Vice President, Corporate Governance
Sustainability & Strategic Relations Officer
Partnerships Officer

MICHAEL GOLTZMAN ULRIKE SAPIRO BEN JORDAN

Vice President, Global Public Senior Director, Water Senior Director,
Policy & Sustainability Stewardship & Sustainable Environmental Policy
Agriculture 3
KEY THEMES FOR TODAY

SUSTAINABILITY PROGRESS & COVID-19

DIVERSITY, EQUITY & INCLUSION

QUESTIONS

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 SUSTAINABILITY PROGRESS & COVID-19

WATER, SUGAR & PACKAGING ARE TOP PRIORITIES

WATER SUGAR REDUCTION PACKAGING

Change recipes, smaller packs
Broader portfolio
Make 100% of our packaging
recyclable by 2025
Replenish 100%+ Transform our portfolio, 100% package collection
Goals water used annually reduce added sugar and recycle rate by 2030

Use 50% recycled material

in our packaging by 2030

88% of packaging recyclable

2019 ~350,000 tons of added
160% replenished1 60% collected
Progress sugar removed
10% rPET

2025
100% of packaging recyclable
Sugar reduction
Post-2020 100%+ replenish in high and portfolio
Goals stress areas 2030
transformation
100% collection
50% recycled material
1. As estimated working with our many external partners and using generally 5
accepted, independently peer-reviewed scientific and technical methods.
 SUSTAINABILITY PROGRESS & COVID-19

WATER IS CENTRAL TO SUPPLY CHAIN,

PEOPLE & ENVIRONMENT
• Replenish all the water we use in our drinks and
their production by 2020.
• Improve our water efficiency by 25% by 2020.

We now need only 1.85 liters of

water per liter of final product, an 160% We’ve replenished a total of
A- #1
18% of the water used in our
finished beverages was
1.5+ TRILLION Our 2019 CDP
Water disclosure
A 2019 Ceres
report on water
safely returned to liters of water since 2012
placed us in the risks in the food
improvement compared to 2010. communities and nature in through
leadership range and beverage
2019. about 300 projects each year.
of scores. sector ranked
Coca-Cola #1 on

5 YEARS 10.6+ MILLION

water risk
people with management
among beverage
we’ve met and exceeded increased access to clean water company peers.
our water replenishment and sanitation.
goal.
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 SUSTAINABILITY PROGRESS & COVID-19

SUGAR REDUCTION PLAYS IMPORTANT ROLE IN

PORTFOLIO TRANSFORMATION
18 OF OUR 20
REDUCING ADDED SUGAR top brands are low- or no-sugar or
have a low- or no-sugar option; ~45%
WHILE INCREASING of our beverage portfolio and ~29% of
SALES GLOBALLY our volume is low- or no-sugar.

UNIT CASE VOLUME GROWTH

AVERAGE SUGAR PER 100 ML ~350,000 TONS
of added sugar removed on an
annualized basis through product
REDUCING ADDED SMALLER PACKAGES reformulations in 2019.
SUGAR
~42%
of our sparkling soft drink brands
come in packages of 250ml (8.5oz) or
less.

NEARLY 100%
of our products globally provide front
TRANSFORMING GIVING PEOPLE THE of pack energy/calorie information.
OUR PORTFOLIO INFORMATION
they need to make informed choices
Reformulated nearly

1,000
of our beverages from 2017-2019.
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 SUSTAINABILITY PROGRESS & COVID-19

MAKING PACKAGING PART OF THE CIRCULAR ECONOMY

DESIGN COLLECT PARTNER

100% of our packaging Collect and recycle a Bring people together
recyclable globally by bottle or can for each to support a healthy,
2025. one we sell by 2030. debris-free environment.

50% recycled material

by 2030.

• 88% OF PACKAGING RECYCLABLE • 60% of our bottles & cans in 2019 • USA: “Every Bottle Back” $100M
(+3% vs. 2017) were refilled, collected or recycled industry & NGO initiative
• 20% RECYCLED CONTENT (+4% vs. 2018) • Consumer Goods Forum (CGF) and
• 10% RECYCLED CONTENT in plastic other industry alignment on
• In Kenya, recycling of PET bottles progressive packaging policy
packaging has jumped from 5% in 2018 to 35%
• Continuous innovation for circular in 2019 through joint industry • India: $140M+ industry initiative to
solutions: Coca-Cola Freestyle efforts to support the PETCO recycle all packaging material by 2025
touchless technology recycling model

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 SUSTAINABILITY PROGRESS & COVID-19

AN INTERLINKED & HOLISTIC APPROACH

CLIMATE AGRICULTURE WOMEN

Change recipes, smaller packs
Broader portfolio
Reduce carbon footprint
Source all priority Enable the economic
of the
ingredients empowerment of 5
Goals “Drink in Your Hand”
sustainably million women by 2020
by 25% (2010 base year)1

2019 54% of priority 4.6+ million women

24% reduction
Progress ingredients empowered

Consider new
goal expanding
25% absolute emissions Focus on key empowerment to
Post-2020
reduction by 2030 ingredients support the recovery of
Goals (Science-Based Target) customers and to
support vulnerable
populations

1. The calculation of progress toward the "Drink In Your Hand" goal has been internally vetted using accepted and relevant scientific and technical methodologies which
are aligned with GHG Scopes 1 and 2 for Company-owned facilities and Scope 3 for bottling partner facilities. However, in our “Drink In Your Hand" calculations, we 9
consider the full Coca-Cola system (including franchise bottling partners) in the calculation of our manufacturing, distribution and refrigeration emissions.
KEY THEMES FOR TODAY

SUSTAINABILITY PROGRESS & COVID-19

DIVERSITY, EQUITY & INCLUSION

QUESTIONS

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DIVERSITY, EQUITY & INCLUSION

OUR GLOBAL SOCIAL JUSTICE FRAMEWORK

LISTENING Engagement with employees and

stakeholders

LEADING
Policies and communications that
address inequities

INVESTING $ Talent investments, volunteerism,

community giving

ADVOCATING Convening power to make

a difference

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We will do our part to listen, learn and act

 DIVERSITY, EQUITY & INCLUSION

INVESTING IN TALENT & DISCLOSING PROGRESS

SOCIAL JUSTICE DISCLOSING HIRING, RECRUITING STRONG EQUAL

FRAMEWORK PROGRESS & DEVELOPMENT OPPORTUNITY PROGRAMS

• Four pillars • Aspirational goal for company • Updating recruiting and hiring • Conducted pay equity analyses
to be strategies, deploying tools to in the U.S. for many years &
ü Listening
50% led by women globally
remove bias extended analysis in 2019 for
ü Leading gender globally
• Enhancing Global Women’s
ü Investing • Publish diversity Leadership Council’s • Conduct adverse impact
ü Advocating representation data [EEO-1] in sponsorship program for analysis to ensure equitable
2020 Business & Sustainability female talent treatment and practices
• Strong leadership commitment Report
to diversity, equity & inclusion • Providing development
opportunities

ü 3 internal Diversity Leadership

Councils

ü 8 employee-led Business
Resource Groups

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Our enduring commitment to diversity & inclusion comes to life in everything we do

ESG DISCLOSURE

TRANSPARENT DISCLOSURE IS CRUCIAL

Used in 2019 report For 2020 reporting

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