#1THE Coca-Cola COMPANY BRAZIL INVESTOR MARKET VISIT Executing for Growth Leveraging the Strategy Sao Paulo May 24, 2022 HENRIQUE BRAUN LATAM OU PRESIDENT LUIS FELIPE AVELLAR SOUTH OPERATIONS PRESIDENT#2FORWARD-LOOKING STATEMENTS This press release 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, and continuing uncertainties associated with the scope, severity and duration of the global COVID-19 pandemic and any resurgences of the pandemic, including the number of people contracting the virus, the impact of shelter-in-place and social distancing requirements, the impact of governmental actions across the globe to contain the virus, vaccine availability, rates of vaccination, the effectiveness of vaccines against existing and new variants of the virus, governmental or other vaccine mandates and potential associated business and supply chain disruptions, and the substance and pace of the post-pandemic economic recovery; direct or indirect negative impacts of the conflict between Russia and Ukraine; an inability to realize the economic benefits from our productivity initiatives, including our reorganization and related strategic realignment initiatives; an inability to attract or retain a highly skilled and diverse workforce; increased competition; an inability to renew collective bargaining agreements on satisfactory terms, or we or our bottling partners experience strikes, work stoppages, labor shortages or labor unrest; an inability to be successful in our innovation activities; changes in the retail landscape or the loss of key retail or foodservice customers; an inability to expand operations in emerging and developing markets; increased cost, disruption of supply or shortage of energy or fuel; inflationary pressures; increased cost, disruption of supply or shortage of ingredients, other raw materials, packaging materials, aluminum cans and other containers; an inability to successfully manage new product launches; obesity and other health-related concerns; evolving consumer product and shopping preferences; 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; 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; an inability to maintain good relationships with our bottling partners; deterioration in our bottling partners' financial condition; an inability to successfully integrate and manage consolidated bottling operations or other acquired businesses or brands; an inability to successfully manage our refranchising activities; increases in income tax rates, changes in income tax laws or the 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; 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; litigation or legal proceedings; conducting business in markets with high-risk legal compliance environments; failure to adequately protect, or disputes relating to, trademarks, formulae and other intellectual property rights; changes in, or failure to comply with, the laws and regulations applicable to our products or our business operations; fluctuations in foreign currency exchange rates; interest rate increases; unfavorable general economic conditions in the United States and international markets; an inability to achieve our overall long-term growth objectives; default by or failure of one or more of our counterparty financial institutions; impairment charges; failure to realize a significant portion of the anticipated benefits of our strategic relationship with Monster Beverage Corporation; 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; failure by our third-party service providers and business partners to satisfactorily fulfill their commitments and responsibilities; failure to achieve our environmental, social and governance goals or accurately report our progress due to operational, financial, legal and other risks, many of which are outside our control and are dependent on the actions of our bottling partners and other third parties; increasing concerns about the environmental impact of plastic bottles and other packaging materials; water scarcity and poor quality; increased demand for food products and decreased agricultural productivity; climate change and legal or regulatory responses thereto; adverse weather conditions; and other risks discussed in our filings with the Securities and Exchange Commission ("SEC"), including our Annual Report on Form 10-K for the year ended December 31, 2021 and our subsequently filed Quarterly Report 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. 2#3LATIN AMERICA OPERATING UNIT OVERVIEW Mexico Operations Mexico Guatemala El Salvador Costa Rica- Other CAR Haiti Dominican Republic Belize Honduras Nicaragua Panama Central Operations Jamaica Ecuador Peru Colombia Venezuela Bolivia Guyana Suriname Guyana Francesa Brazil Paraguay Chile South Operations Sao Paulo Uruguay Argentina 631M Total Population LATAM Macroeconomics +6.6% Δ $8,632 GDP '21 vs '20 GDP per Capita '21 THE Coca-Cola COMPANY 9.9% Inflation '21 The Coca-Cola Company LATAM - Business Snapshot '21 27% Share of KO Global Volume 50+% 5M Reported NARTD Share of Value Customers Served 36 Bottling (direct/indirect) Partners 1 Colas The Coca-Cola Company LATAM - Portfolio COSTA FANTA Munde Ades Välle. Coca-Cola Coca-Cola 1202 Välle 1 (1) SSD Flavors Water Juice 2 Sports 2 RTD Tea Plant Based NEW! FABS Drinks FABS: Flavored Alcohol Beverages Source: IHS, Global Data, Internal Analysis (Reported NARTD excludes Bulk Water, White Milk and Prepared Juice) 3#4WE HAVE EMERGED STRONGER FROM THE PANDEMIC Brand Building Our Strategy is Intact Innovation / M&A Winning in the Market with Strong Momentum and a Healthy Business Win in the Market Share of Value +100bp '21 vs. '20 +310bp '21 vs. '19 Execution 100 Revenue Growth Management Cash Flow Generation ...... $ Asset 0000 Optimization ос Win with Consumers W+ Consumers +320bp '21 vs. '20 +150bp '21 vs. '19 Win with Customers New Outlets +150k '21 vs. '20 +305k '21 vs. '19 Resource Allocation Win with Digital Digitalized Stores Margin Expansion Economic Conditions Source: Global Data, Internal Analysis (Reported NARTD excludes Bulk Water, White Milk and Prepared Juice) +1.7M 41% '21 vs. '20 of total Universe Competitive Landscape Consumer Preference Public Health Environment 4#5A VAST OPPORTUNITY FOR GROWTH IN LATIN AMERICA Across Categories Across Population % of Volume Mix Non-Commercial48% $ US$ 250+ Bn Commercial Beverages Whitespace Alcohol 7% Hot Beverages 10% Cold Beverages 35% TCCC Commercial Beverages Volume Share: 18% TCCC Consumer 2026 Population Increase Source: IHS, Global Data, Internal Analysis Non-TCCC Consumer 5#6WELL-EQUIPPED TO EXECUTE FOR GROWTH Our Strategy is Intact Clear Local Priorities to Accelerate Global Strategy RETURNS TOPLINE Brand Building Execution Innovation / M&A Revenue Growth Management Cash Flow Generation Resource Allocation 70% Asset Optimization $ 0000 Margin Expansion ESG AGENDA VALUE TO MARKET 2 6 24/7 3 5 PEOPLE & NETWORK Consumer DIGITAL TRANSFORMATION ACCELERATE CORE PORTFOLIO 08080 WINNING IN THE PRESENT OTHE through cooperation framework Strengthening System 6#7BRAZIL WITH SOLID PERFORMANCE & STRONG MOMENTUM Source: Share of Value (Nielsen) NET SALES REVENUE +10% '21 vs. '20 +31% Q1'22 vs. Q1'21 NARTD SHARE OF VALUE +88bp +15bp '21 vs. '20 Q1'22 vs. Q1'21 +400k STORES DIGITALIZED 70% '21 vs. '20 Of KO Outlets #4 Global Market (based on volume) 7#8OUR PEOPLE AND THE NETWORKED ORGANIZATION ACTING AS A CATALYST FOR GROWTH ACROSS THE REGION The Power of our Culture TOP QUARTILE COMPANY CURIOUS The Power of our Network • Importing From Global Within Latam PEOPLE & NETWORK EMPOWERED NCLUSIVE DIVERSITY AGILE Co-Creating Together 00 0- 0000 Exporting 8#9ACCELERATED DIGITAL AGENDA AS KEY ENABLER FOR PRESENT AND FUTURE GROWTH g Fully Digitalized Marketing DIGITAL TRANSFORMATION Strategy in Action (Brazil): 2X Digital Relevance System Digitalization Deli Fully LATAM TRANSFORMATION Digitalized 360° DIGITAL Customer Capabilities 020 B2B Customers 020 B2C Consumers ° WINNING IN THE PRESENT WHILE BUILDING THE FUTURE PRESENT FORWARD FUTURE BACK 5M Latam Stores Universe Juntos + 4M KOS direct Customers Direct 50% Customers Digitalized LATAM DIGITAL NETWORK ARCACONTINENTAL DIGITAL 0 CHATBOT mi Coca-Cola en tu hogar B2B: DIGITALIZATION IN TRADITIONAL TRADE ✓ Expanding Multicategory offer through Distribution Agreements 70% ~700K Customers Digitalized ✓ Digital Habit ✓ Expanding launching JUNTOS+ new services Pix Payment Solar B2C: WINNING IN THE MARKET #1 Brand in ONLINE BUYERS Creating Physical Capabilities New RTM model and Loyalty platforms +3pts sov vs PY in Online 2.6M Consumers in Our Platforms Coca-Cola na sua casa ✓ 5 Top Aggregators contracts ✓ Launch in Rio de Janeiro ✓ Smart Cooler's pilot 5 key bottlers 6#10OPTIMIZED BRAND PORTFOLIO WITH FEWER, STRONGER BRANDS BETTER EQUIPPED TO LEAD GROWTH PORTFOLIO OPTIMIZATION (from 2019 to 2021) COCA-COLA From 1 to 1 SSD FLAVORS From 62 to 27 LATAM From 140 to 63 FABS From 1 to 3 HSTC: Hydration, Sports, Tea, Coffee NUTRITION From 31 to 9 HSTC From 45 to 23 COCA-COLA From 1 to 1 SSD FLAVORS BRAZIL From 29 to 14 From 12 to 5 FABS From 1 to 3 NUTRITION From 5 to 2 HSTC From 10 to 3 ACCELERATE CORE PORTFOLIO 10#11STRONG COCA-COLAT DRIVING TO ACCELERATE WEEKLY+ RECRUITMENT 1 OCCASION RITUALS (CONTINUED PLATFORMS) MEALS RITUAL BREAKS RITUAL CCNS A MELHOR Coca-Cola COCA-COLA PARA O SEU ALMOÇO? rea-Cola A Magia Acontece EXPERIMENTE PRIMEIRO Coca-Cola 2 INNOVATION (EPIC MOMENTS) Coca-Cola Byte Coke Byte: Coca-Co #SEM PALAVRAS PARA DESCREVER O SABOR DE COCA-COLA SEM AÇÚCAR Pack HERO Channel Coca-Cola No Sugar Relaunch +25% 21 vs 20 Innovative Trial ZERO SUGAR 42% of 2 months target sold in 1 week Coca-Cola CALORIE CL ca-Co SEM ACUCAR SCREEN TIME TIME OUT MT D2C ECOM TT OP SS Multipack SS Entry & Frequency TOO GOOD FOR WORDS STOP HERE FOR ZERO - Best Coke Ever System Engagement Coca-Cola de todas? #SIM #NÃO 3 BRAND PURPOSE & SUSTAINABILITY (EPIC MOMENTS) MS Ret Promo: • 9 weeks on air • +1MM products given . +1B media impacts Cola PROMOÇÃO COCA-COLA RETORNÁVEL LET'S BE DENT. Coca-Cola IN VAMOS SER DIFERENTES HIGH 9 PREMIOS EQUIVALENTE À 9 PRÊMIOS EQUIVALENTE À R$ 20.000 MID R$ 10.000 Moto Elétrica Bike Elétrica licacuColo LOW 380 PREMIOS EQUIVALENTE A R$ 1.000 1 ano de Coca-Cola Coca-Cola Retornável INFLUENCERS SOCCER MUSIC GAMES Coca-Cola ACCELERATE CORE PORTFOLIO PASSION POINTS (MKT ASSETS) Promoção PRONTO PRAJOGAR? ACEITE O DESAFIO + DE 10 MIL PRÊMIOS E3 EXPERIENCIAS GAMER EXCLUSIVAS 2x MAIS CHANCES 108 2 3 Breaks SS Promo: • 8 weeks on air 2022 Fast Start +30% of coupons with +6 products Coca-Cola Coca-Cola Coca-Cola ACUCA Destampe um grito de gol CreateStreamer CreatorStr Creater Streamer CreatoryStreamer A Ganhe uma viagem a Qatar 2022 Creat tamp Meet up @ Terkini 10CAMPEONES DE Exco Coke Byte Example: Gamers Squad + #1 Streamer in Brazil 11#12STEPPING-UP RGM CAPABILITIES DRIVING SUSTAINABLE & PROFITABLE TOPLINE GROWTH RGM CAPABILITIES PILLARS TX: Transactions % Growth Equation REV > TX > VOL OS $ 1 2 3 PRIORITY • Strategy in Action (Brazil) Balanced portfolio growth: Single Serve Recovery ACCELERATE CORE PORTFOLIO FANTA Coca-Cola Single Serve Packs LEVE MAIS PAGUE Coca-Cola FANT FAN Multipacks Vodka Schweppes & Citrus Spritz Gin Tônica Premiumization Boost Coca-Cola Coca-Cola Affordability Expansion pe his ope his ope This Topo Chic HARD SELTZER HARD SELTZER HARD SELTZER HARD SELTZER 2147 247 247 2,43 Coca-Cola Coca-Cola Refillables Duals Coca-Cola FANTA FANTA NEW 12#13VALUE TO MARKET: NEW CRITICAL CAPABILITY TO CAPTURE OCCASION-BASED CONSUMPTION VALUE TO MARKET PLATFORMS AB OCCASIONS 1 2 DISTRIBUTION AGREEMENTS || 0 || 6 24/7 3 5 4 "Sharing Moments Platform" @MT & HORECA Schwepp Thnical 0 Schweppes + Tonic Water Schweppe Coca-Cola SEM ACOCAR FANTA VALUE TO MARKET Brazil example "Yummy Snacking Platform" @TT & Ecommerce/FSA FANTA Trident Coca-Cola FEMSA & Spirit Partner +10pp NARTD Volume Growth Pilot vs Control Traditional trade Brazil example SOLARBR Coca-Cola & Spirit Partner +4pp NARTD Volume Growth Pilot vs Control Traditional trade 13#14ESG AGENDA: FULLY EMBEDDED IN OUR STRATEGY WATER LEADERSHIP Coca-CoCoca-Cola Coca-Co Coca-Cola WORLD WITHOUT WASTE PATSTAR ECONOMIC EMPOWERMENT SUSTAINABLE BUSINESS 14#15UNIVERSAL BOTTLE: A REUSABLE BOTTLE DESIGNED FOR MULTIPLE BRANDS Sprite Välle Coca-Cola Coca-Cola FANTA SABOR ORIGINAL SIN AZUCARES RETORNABLE RETORNABLE RETORNABLE >RETORNABLE REFORMABLE IN FRUT • • Key element of our RGM Strategy & ESG agenda: . Lower entry price points that allow us to stay connected to consumers who are coming under purchasing power pressure Sustained refillable volume growth leveraging Universal Bottle expansion (mix within SSD Multi Serve: from 13% in 2013 to 23% in 2021) Gradual Refillable expansion to Sparkling Flavors and Stills categories Increasing Refillables footprint YoY with Removable Label available for around half of volume capacity by end of 2022 Refillables Removable Label in place Removable Label planned 2016 2022 2022-2024 2025+ SUSTAINABLE BUSINESS 15#16Example Coca-Cola™ HOW THE INTEGRATED PLATFORM COMES TO LIFE? Meals & Refillables Coca-Cola ACCELERATE VALUE CORE PORTFOLIO TO MARKET PLATFORMS Will FANTA 0808% Ambition 2022 +11pp Numeric Distribution Coca-Cola No Sugar +10pp Numeric Distribution Flavors + National Rollout Del Valle AON Ritual Meals $00 Consumer DIGITAL TRANSFORMATION BUILDING THE FUTURE SHOP Customer Record Digital Investment MediaMath y fo TUDO plutoⓇ GOSTOSO + 6 months on air + Impact on Weekends + Frequency on Shoppers ESG AGENDA PEOPLE & NETWORK Universal Bottle Coca-Cola Coca-Cola FANTA Sprite PROMOÇÃO Coca-Cola VAMOS SER DIFE 1 ANO 100% ACHOU, GANHOU! + de 400 Prêmios de até R$ 20MIL mahão de produtos retornáves BO PRO ROSSO PRO PLANETA 2x+ Visibility & Cross Execution E-com, Food Aggregators, & B2B Partnership (to increase collection) $XX Coca-Cola A Combinação ideal para suas refeições. Coca-Cola FANT Coca-Cola Coca-Cola Juntos+ Omnichannel B2B B2B Platform +130K monthly purchasers + 1B in 2021 + App Scale in 2022 sustenta PET One Vision in a Global Network Coca-Cola Mood enhancer REAL MAGIC Ordinary Meal Food i.e.: Latam w/ Xmas 16#17KEY TAKEAWAYS • We have emerged stronger from the pandemic, and we have a clear strategy in line with the Global Company • We are refreshing the way we connect with our Consumers & Customers while enhancing critical capabilities (Marketing, RGM, Value To Market, Digital) Our System is engaged and aligned in executing for growth REFRESH THE WORLD. MAKE A DIFFERENCE LOVED BRANDS DONE SUSTAINABLY FOR A BETTER SHARED FUTURE 17#18THE Coca-Cola COMPANY BRAZIL INVESTOR MARKET VISIT Executing for Growth Leveraging the Strategy Sao Paulo May 24, 2022 HENRIQUE BRAUN LATAM OU PRESIDENT LUIS FELIPE AVELLAR SOUTH OPERATIONS PRESIDENT