CORPORATE PRESENTATIONJ u n e 2 0 2 0

Coca-Cola System pioneers in Mexico

Strong partnership with

94YEARS

Serving5 countries across the Americas

2.2BUC

S a l e s

V o l u m e

162MXP$B

R e v e n u e

49

P r o d u c t i o n

F a c i l i t i e s

394

D i s t r i b u t i o n

C e n t e r s

63Thousand

A s s o c i a t e s

+1.4Million

P o i n t s o f

S a l e

USA

MEXICO

ECUADOR

PERU

ARGENTINA

3

11%

8%

3%

5%

33%

40%

99%

1%

A balanced portfolio of markets and business…

Mxp$ 13 billion

EXPORTS AND

VENDING

MEXICO

BEVERAGES

UNITED STATES

PERU

ECUADOR

ARGENTINA

2019Revenues

Mxp$ 163 billion

2002CAGR16%

4

MEXICO

SNACKS &

OTHER BUSINESS

13x

… and a strong presence in attractive markets

Start date: 1926

• Sales volume (MUC): 1,260

• % of KO volume: 33%

• Population served (MM): 33

MEXICO

Start date: 2015

• Sales volume (MUC): 282

• % of KO volume: 100%

• Population served (MM): 32

Start date: 2008

• Sales volume (MUC): 114

• % of KO volume: 23%

• Population served (MM): 9

Start date: 2010

• Sales volume (MUC): 143

• % of KO volume:100%

• Population served (MM): 17

Start date: 2017

• Sales volume (MUC): 441

• % of KO volume: 12%

• Population served (MM): 32

USA

ARGENTINA

ECUADOR

PERU

____________________

MUC –Million Unit Cases

KO – The Coca-Cola Company 5

Pursuing value creation via consistent organic growth and an excellent M&A track record

2002ARCA

Merger

2007Snacks

Mexico

2008Argentina &

Jugos del Valle

2010Ecuador

2011CONTAL

Merger

2012Snacks &

Santa Clara

2014Tonicorp

2015Peru

2016Sugar Mill

Argentina

2017USA, AdeS

& Snacks

2018Innovation &

Snacks

USA

Great Plains

Commitment to grow across our three core business segments

NARTD: Non-alcoholic ready to drink

Emerging still categories + Value added diaryStills

Food & Snacks

CORENARTD

7

New sparking beverage franchisesSSDs

A wide brand portfolio to satisfy every occasion of consumption…

+ 28 Brands

+ 128 SKUs

+60 Brands

+1,500 SKUs2006 2020

8

…with a commercial model that connects the entire organization

9

Fundamentals

Segmentation

RGM

Picture of success

Go to market

Market audit

Digital tools

People

Customer love score

We identified 4 phases… the quarantine period being the critical point

Quarantine CelebrationOutbreak“New Normal”

+ Economic Impact

• Accelerated Growth of

infections

• Panic in the population

• Purchases due to “over-stock”

in retail

• Peak of the pandemic

• Confinement begins

• Minimum purchases in

proximity channels

• Reduction of new cases and

recovery

• Confidence and euphoria

• On-Premise channels are

reopened

• New consumption trends

(eCommerce)

• Medium and long-term

economic impact

Retail

Traditional

FSOP

Convenience

Channel performance

• FSOP channel which represents ~10% of

our consolidated volume

• Peru and Ecuador were our most affected

operations due to greater mobility

restrictions

• Pricing impact due to change of mix and

channel shift

Solid momentum prior to COVID-19 pandemic

11

COVID-19 Impacts

• Gaining value share

• Strong financial position

• Digital transformation in place

Started the year strong

+2% Volume growth as of February

Taking actions, adapting to the current situation

Crisis

management

efforts

Focus areas Strategic actions being taken

Savings and efficiency initiatives

Reassessed Capex investments

Prioritize liquidity, profitability and

protect business for the long term

Special focus

in the

traditional

channel

RGM B2B platforms and e-commerce Accelerate digital initiatives to better

serve our customers

Support its recovery and

continuing to modernize this

channel

Supporting customers to comply with sanitary

measures

Fine tune the optimal portfolio of products

Promote returnable packages and affordability

COVID-19 has changed the way our customers need to be served and has helped

us quickly adapt to a new operating model based on the ACT model with a more

digital approach.

Beverages

Mexico

Mexico – The resilient traditional channel at its best

• Volume trend in April and May was better than

expected, with a Traditional Channel positive on

both months

• We developed our B2B solution for the traditional

trade since last year and now has been accelerated

• We increased our home delivery customers, more

than 5,000 new customers. We expect to add 15,000

more in the coming months

• Although we still have a deficit of around 2,500

customers, we have more new customers than

customers without a purchase, which makes the

balance positive

• In the last 5 weeks, we have recovered 3 p.p. of

customers without orders, reaching almost the same

level before the mobility restriction period

14

New customers Regular customers Customers w/o orders

215240

261 268 276

-82 -84 -85 -88 -88

112123

132 137 142

W14 - 17 W15 - 18 W16 - 19 W17 - 20 W18 - 21

Drop-size (MUC)

Traditional Channel

A flexible price-pack architecture to drive consumption and profitability

66%Retornable

No Retornable

$6 $10 $13 $20$6 $25

600 PET

3.0 NR

2.0 Ref Pet

355 mlVR

Low elasticity SKU´s Protect affordability

(multi-serve &

Returnable)

Leverage on single serve presentations

+25 SKUs only for regular Coke in Mexico

PACKAGE FORMATMXP

$6

MXP

$34

68%

32%

RETURNABLE

54%

46%

NON-RETURNABLE

MULTISERVE

SINGLE SERVE

15

Mexico – Continuous efforts in product

innovation

16

• Full channels roll out

• Around 20% of customer

coverage in traditional channel

• Contributing with 52K UC in

2019

• Full channels rolled-out

• Around 26% of customer

coverage in traditional channel

• Contributing with 193K Unit

Cases in 2019

Beverages

USA

USA – Setting the base for the new normal

18

• Immediate consumption focus on RGM

affordability small packages

• Continuous investment in our segmentation

platform

• Best in class Product Innovation launches

• MyCoke.com as primary order method for FSOP and

independent convenience stores migrating 15,000

outlets

• Enhancing the features of myCoke.com increasing the

payment methods and rolling-out new mobile

application

• Deploying “adapted” Go To Market service models for

the Home Market

• Strengthening OPEX and labor discipline

Adaptation strategies Reinforcing strategies

COVID-19 has changed the way our customers need to be served, the flexibility of our operations

has helped us to quickly adapt to a new operating model based on the ACT model with a more

digital approach

CCSWB New Normal

Humble

Approachable

Authentic

Culture Principles

#1 Safety of Our Associates

#2 Serving our Customers

Priorities

New Operating Model

Digitized Operation

E-Commerce Strategy

GTM Home Market

Small Vehicles

OPEX and Labor Discipline

RGM Affordability

Segmentation

Innovation Brands

New Operating Model to Fit our New Reality.

A Different Way to Serve Our Customers, Digital, Efficient, Flexible.

Accelerate Reinforce

Strategies to Quickly Adapt to

the New Market Necessities

Core Business Strategies to

Ensure Business Continuity

Detailed work plans for short and mid-term identified synergies

20

Northpoint Houston facilityThe newest member of the family

Started operating on March 2020 21

Beverages

South America

w156-11 apr

w1613-18 apr

w1720-25 apr

w1827apr-2may

w194-9 may

w2011-16 may

w2118-23 may

Peru – Gradual recovery, along with economic

stability• Focused on affordability through on multi-serve returnable, strengthening our brand communication of our

flavors, ensuring the presence of our core portfolio

• Vending channel routes were adapted to serve consumers directly to their homes with our full portfolio; on

target to reach our goal of serving over 6,000 consumers

• We continued working on the AC Digital platform through customers place direct orders using a mobile app;

currently 1,000 customers utilize this platform and is expanding to serve many more

23

Customers Performance

% Customers with orders

% Customers closed

+21p.p.

-15p.p.

Ecuador – Direct to consumer and digital

initiatives for the market reopening

• Focus on guarantee supply to our clients and consumers, adapting and optimizing our service models according to

the current environment

• B2B digital capabilities deployed to 7,200 customers in Quito and Guayaquil

• Given the mobility and sanitary restrictions in the country, we deployed 11 distribution routes in “Direct to

Consumer” Channel, which will allow us to directly serve more than 1,400 consumers

24

% Customers with orders

% Customers closed

Customers Performance

+23p.p.

-24p.p.

w156-11 apr

w1613-18 apr

w1720-25 apr

w1827apr-2may

w194-9 may

w2011-16 may

w2118-23 may

w2225-30 may

w156-11 apr

w1613-18 apr

w1720-25 apr

w1827apr-2may

w194-9 may

w2011-16 may

w2118-23 may

w2225-30 may

Argentina – Focusing on customer intimacy

and consumer affordability

• Activated call center sales with a very good rate. We are balancing these customer contacts with our regular presale

activity

• Deployed digital platforms initiatives, such as B2B

• Focused in key operational activities and reinforced affordability through a balanced price architecture

25

-5p.p.

+7p.p.

% Customers with orders

% Customers closed

Customers Performance

Food and

Snacks

Around USD$ 394 MM Sales

High potential growth opportunity based on strategic adjacencies

Complementary to our core business

60 new routes in Bokados territory

Expand business coverage in Mexico and Ecuador

27

Innovation at Arca

Continental

We are moving forward swiftly on our digital transformation journey…

AC digital agenda

Capabilities assessment

Workshops with AC leaders

Silicon Valley digital tour

Framework & programs

Structure & communication

29

…resulting in our digital transformtion agenda

30

Digital programs that create significant value to the current business and

enable business engines

Optimize business

Digital programs to accelerate and / or create new sources of growth

Potential business engines

Customer Optimize core assets Consumer

Digital enablers

Enablers that are critical to reach the potential of the digital agenda

Governance

Traditional trade 2.0

AC digital transformation agenda31

Digital enablers

Potential business engines

Consumer

• Modernize &

expand direct-to-

consumer

• Digitalize &

expand vending

• “Modernize” TT

• Become the

integrator/ distributor

for TT

Optimize business

Customer Optimize core assets

• Digitalize ACT

• Become the preferred

partner for MT &

digital channels

• Optimize manufacturing

efficiency and flexibility

• Create fully automated

logistics network

• Support functions

digitalization

Enablers that are critical to reach the potential of the digital agenda

Governance

Technology & systems Capabilities Organizational model

Traditional trade 2.0

Modernizing the traditional trade through digitalization

32

1

Large & X-large

customers

Micro, small and

medium customers

B2B+

20%

80%

Credit card & service

transactions

Supply consolidation

Automated

replenishment

B2CPayment options

Variety of services

Online commerce

10,500

Customers

Advanced analytics use cases

33

Suggested

order

Progress update Next steps

Full Mexico rollout; 15% OOS

reduction

Predictive recommendation model for

all products in collaboration with MIT

Extend development to Peru and Ecuador

+ complementary business units

Execution

Human

resources

Supply chain &

manufacturing

Analytics

capabilities

Work order prioritization in f(x) of

revenue impact Next Best Action model development

Initial results: 30% staff turnover

reduction in West Mexico and Peru

Mexico, CCSWB and complementary

business units model extension

Talent Analytics team implementation to

recruit, retain and develop talent

Production lines’ digitalization & info

standardization

Preventive maintenance on T2 vehicles

+ component mapping

Maintenance costs reduction through

Predictive Failure model

Analytic tools training program

deployment

Data lake (Mexico & Peru)

Data enrichment (Mexico)

Data ecosystem (company-wide)

Center of Excellence development

Financial

Performance

Conservative debt profile & diversified

maturity schedule

• 93% debt is in local currency

• Projected debt profile with average maturity of 6.3 years

AC Debt Maturity Profile

Total Debt: MXP$ 60,760 million

____________________

*Using an exchange rate as of March 2020 of MXP $24.29

Cash Position

By Currency

By

Currency

35

21%

70%

8%

1%

MXP

USD

USD 14%

42%

44%

MXP

PEN

MX$ 29,589 millones

PEN

ARP

2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032

7,1947,742

6,156 6,188

3,638

1,5182,501

6,395

9,714 9,714

USPP Bancos Bonos

…with the highest credit rating among Mexican issuers

Financial flexibility and low leverage ratio

“A2”

Global Investment Grade above Mexico’s

sovereign rating

“AAA(mex)”

“A”

“mxAAA”

Global Scale

National Scale

Net Debt / EBITDA

36* Without considering M&A

1.31.2

1.5

1.0 1.0

2016 2017 2018 2019 1Q20

Consistent and disciplined capital allocation

Focus on

acquisitions

with high

opportunities

for value

creation

Annual

dividend with

a payout ratio

of at least 30%

of net income

CAPEX

focused on

growth and

productivity

to improve

ROIC

Improve cash

conversion

cycle through

better

negotiations

with suppliers

and customers

Prioritization of our capital allocation to higher-return opportunities37

Social

Responsibility

Making sustainability a core business strategy

39

Human Capital and Sustainability Committee

Operational Committees

Portfolio Water Packaging Well-being Value Chain Operations

Institutional commitment to achieve higher standards

and build a culture of social responsibility

Petstar

$48

• The largest PET recycling plant in the world

• Capacity to recycle 4 billion bottles every year

• The equivalent to fill a stadium 3 times

Integral approach for sustainable packaging

41

*2019 data for AC consolidated

of resin produced by PetStar

30% of PCR

50,186 Tons

1.6Water Lts. /

Beverage Lts.

100% treated

24.5 g CO2/

Beverage Lts.

26% energy reductionvs 2010

32% from renewable

sources

Leader in water reuse

technology Mexico is the global leader in

recycled resin use

Strong commitment towards our environment

WATER* ENERGY*RECYCLINGMexico 2018

42

Key investment highlightsKey investment highlights

43

Investor Relations Contact Information:

Ulises Fernandez ulises.fernandezdelara@arcacontal.com

Felipe Barquin felipe.barquin@arcacontal.com

Pamela Ortiz pamela.ortizsa@arcacontal.com

Francisco Leyva franscisco.leyvaa@arcacontal.com

THANK YOU!