Barclays 2014 Back-to-School

Consumer Conference

Ahmet Bozer, EVP & President,

Coca-Cola International

Kathy Waller,

EVP & Chief Financial Officer

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 actual results to differ materially from The Coca-Cola Company’s historical experience and our present expectations or projections. These risks include, but are not limited to, obesity concerns; water scarcity and poor quality; evolving consumer preferences; increased competition and capabilities in the market place; product safety and quality concerns; increased demand for food products and decreased agricultural productivity; 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 or in other major markets; increased cost, disruption of supply or shortage of energy or fuels; increased cost, disruption of supply or shortage of ingredients, other raw materials or packaging materials; changes in laws and regulations relating to beverage containers and packaging; significant additional labeling or warning requirements or limitations on the availability of our products; an inability to protect our information systems against service interruption, misappropriation of data or breaches of security; unfavorable general economic conditions in the United States; unfavorable economic and political conditions in international markets; litigation or legal proceedings; adverse weather conditions; climate change; damage to our brand image and corporate reputation from negative publicity, even if unwarranted, related to product safety or quality, human and workplace rights, obesity or other issues, even if unwarranted; 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; one or more of our counterparty financial institutions default on their obligations to us or fail; an inability to realize additional benefits targeted by our productivity and reinvestment program; 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 plan withdrawal liabilities in the future; an inability to successfully integrate and manage our Company-owned or -controlled bottling operations; global or regional catastrophic events; and other risks discussed in our Company’s filings with the Securities and Exchange Commission (SEC), including our Annual Report on Form 10-K for the year ended December 31, 2013 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. The Coca-Cola Company undertakes no obligation to publicly update or revise any forward-looking statements.

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Reconciliation to US GAAP Financial Information

Forward-Looking Statements

The following presentation may include certain "non-GAAP financial measures" as defined in Regulation G under the Securities Exchange Act of 1934. A schedule is posted on the Company's website at www.coca-colacompany.com (in the “Investors" section) which reconciles our results as reported under General Accepted Accounting Principles and the non-GAAP financial measures included in the following presentation.

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Ahmet Bozer EVP & President,

Coca-Cola International

40%

Coca-Cola International Generates the Majority of TCCC’s Operating Income

4

22%

49% 29%

79%

Note: 2013 full year data. Coca-Cola International’s operating income contribution shown excluding corporate costs.

TCCC Net Revenue $47B TCCC Operating Income $10B CC Int’l Volume 22B Unit Cases

CC Int’l

CC Int’l

Developing Emerging Developed

Opportunity to Grow

2013 NARTD Industry Value (Ex-North America)

Industry Value Growth 2014-2020 (Ex-North America)

5

30%

CC Int’l

Source: Internal Estimates

$0 $100 $200 $300

Total NARTD

Emerging

Developing

Developed

B

CC Int’l

~

Top 32 Markets Ex-North America

We are Growing the Top and Bottom Line Across All Groups

Europe

Eurasia & Africa

Latin America*

Asia Pacific

Comparable Currency Neutral, June YTD

7% 8%

Revenue Operating Income

4% 2%

Revenue Operating Income

7% 9%

Revenue Operating Income

*Ex- structural impact from Venezuela

4% 5%

Revenue Operating Income

6

5 Priorities are Critical to Our Success

7

Marketing Price/Pack

Architecture Marketplace

Execution

Accelerating Sparkling, Led by Coca-Cola

8

Ex-Mexico, Sparkling Volume is +2% June YTD*

300mL PET

10 Pesos

Philippines

*in Coca-Cola International territories

India

Strategically Expanding Our Profitable Still Portfolio

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#1 Global Value Leader

11 Billion Dollar Brands

+8% CC Int’l Volume June YTD

#1 Global Volume Leader

with more coming

In Juice, Our System Committed to Win…

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Sustainable Sourcing

• Leverage G2G Procurement

Winning Brand & Commercial Offers

• Clear portfolio & growth strategy

• DME investment

• Juice metrics

Efficient Operating Practices

• Manufacturing and RTM ‘fit for purpose’

Globally, We Grew Juice & Juice Drinks Volume +8% , 2008-2013 CAGR

…And We Captured Nearly One Third of Industry Value Growth*

* Since launching global juice center in 2007

GROW BUY BLEND FILL MOVE SELL MARKET

We Continue to Innovate in Stills

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Enhanced Hydration

Value-Added Dairy Sports Drinks

Juice

Japan Indonesia

China Russia

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Add Screen Grab for Fuze Tea commercial

Quality Quantity

+DD%

Efficiency

Increasing Brand Investments Funded by Productivity

13

It Will Take Time to See Full Benefits

June YTD

APR 2014 Trailing 3

Months vs. PY FULL IMC

DIGITAL

GREAT CONTENT

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Coca-Cola International

• Highly profitable and growing business

• Exposure to developing and emerging markets

• Accelerating sparkling by focusing on the basics

• Expanding profitable still portfolio

• Marketing efforts are yielding initial results

• But we need to do more

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Kathy Waller EVP & Chief Financial Officer

+2% Volume

June YTD

+2% Price/mix June YTD

Profitable Growth 70% of EP Growth

Our Growth Algorithm Assumes Balanced Top-Line Growth and Productivity

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Our Economic Profit Model Drives Shareowner Returns

Industry Volume Growth

Vibrant Industry

(Best in CPG)

Share Gains

Best Brands & Capabilities

Revenue Realization

Perfect Execution at the POS

Productivity & Reinvestment

30% of EP Growth

Margin Expansion

Ongoing Productivity

Capital Efficiency

Economies of Scale

+64 bps* June YTD

Working Capital

* Comparable, currency neutral

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2014–2020 INDUSTRY VALUE GROWTH BY CATEGORY ($ BILLIONS)

$- $100 $200

RTD Coffee

Functional Hydration

Sports Drinks

RTD Tea

Energy Drinks

Water

Juice and Juice Drinks

Value-Added Dairy

Core Sparkling

2014–2020 INDUSTRY GROWTH BY MARKET TYPE (%)

Growth Potential Exists Across All Markets

18

30%

16%

54%

Emerging

Developing

Developed

Source: Internal Estimates and Canadean

2014 - 2020 NARTD Industry Value Growth: › $300B

#1

NM

#1

#2

#4

#3

#2

#1

#1

KO Value Position

Sparkling Still

We Have the Best Portfolio of Brands

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17 Billion Dollar Brands Across Multiple Categories

We are Expanding Our Brands and Capabilities in a Capital Efficient Manner

• Access new technologies, segments and assets through equity investments

• Utilizes unique assets and relationships of each partner to maximize value

• Preserves cash and limits capital investment

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Price/Mix*

Focusing on Price Realization Across Our Geographies

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2% 9% 6% 6% 1%

-3% -2%

Consolidated LAG EUR EAG NA APAC BIG

*For June YTD

Geographic mix Stronger growth in

China & India at lower net revenue per case

CCR: Drive Supply Chain & COGS

Savings

• Collaborative Procurement

• CCR Supply Chain Optimization

• Next Generation Capabilities (e.g., Design to Value)

We Are Imbedding Productivity in Our Culture…

Transform Our Marketing &

Commercial Model

• DME Productivity & Redeployment Program:

• Consumer promotions

• Ad spend quality improvement

• Enabling DME

• Strategic prioritization

Optimize Center, Field and Support

Functions

• End-to-end Redesign

• Group/BU Standardization

• Operational Cost Management (OCM)

• IT

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…And Are On Track to Deliver $1 Billion by 2016

Our Company Generates Strong Free Cash Flow

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Free Cash Flow defined as Cash Flow from Operations less Capital Expenditures Conversion ratio = free cash flow divided by net income

2011 2012 2013

Free Cash Flow Conversion Ratio

$6.6B $7.9B $8.0B

76% 87%

93%

• 52 Consecutive Years of Annual Dividend Increases

• 9% Increase in 2014

• $5 Billion in 2013

• CAPEX ~$2.5B in 2014

We Have a Disciplined and Consistent Prioritization for Cash

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3

SUSTAINABLE VALUE

CREATION

1 2

• Accelerate Growth and Efficiency Through Acquisitions and Partnerships Across Our Value Chain

3

• Net Repurchase $2.5 to $3 Billion in 2014

4

Leverage (2011 to 2013)

Our Capital Structure Balances Financial Flexibility with Cash Returns to Shareowners

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Cash Sources & Uses (2011 to 2013 Cumulative)

2.6x 98%

Returned

1.1x 1.1x 1.2x

2011 2012 2013

Net Debt / EBITDA Gross Debt / EBITDA*

2.3x 2.1x

Free Cash Flow Cash Returned toShareowners

Net Share Repurchases

Dividends

$ Billions

*

*Comparable EBITDA

+ Divestitures

FCF

Divestitures $23 $24

SUMMARY

• Focused on driving economic profit through top-line growth, margin expansion and capital efficiency

• Balancing price realization and volume growth to drive revenue

• Harnessing the strength of our brands

• Leveraging M&A to expand our capabilities

• Imbedding productivity into our culture

• Generating strong cash flow and returning excess to shareowners

• Balancing flexibility and cash returns in our capital structure

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Barclays 2014 Back-to-School

Consumer Conference

Ahmet Bozer, EVP & President,

Coca-Cola International

Kathy Waller,

EVP & Chief Financial Officer