1

Investor Tour – New Zealand

New ZealandA robust business model

George Adams

16-17 October 2008

2

30

80

130

180

230

280

330

380

430

480

530

1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007

Ne

t S

ale

s R

eve

nu

e (

NZ

D $

m)

10

20

30

40

50

60

70

Un

it C

ase

s (

mill

ion

s)

Revenue Vol mucs

The New Zealand business is in growth and is resilient – sales revenue has tripled and volume decreased in only 2 of the past 15 years

Volume and Net Sales Revenue 1993 - 2007

Net

Sale

s R

eve

nu

e $

mU

nit C

ase

s (m

illion

s)

3

The improvement in earnings has been driven by revenue management initiatives, recovery of COGS increases and efficiencies from capital investments

17.7% 16.9%

23.1%

17.4%

-20%

-15%

-10%

-5%

0%

5%

10%

15%

20%

25%

30%

H1 H2 H1 H2 H1

2006 2007 2008

% Growth

Record local currency earnings +20.4%

Lo

cal C

urr

en

cy E

BIT

Gro

wth

4

CCA remain on track to deliver a record result in NZ in 2008 – despite the softer H2 macro environment

Source: Westpac Q3 Consumer Confidence Survey - September 24 2008

5

CCA has a strong market position especially in CSDs

100%

80%

60%

40%

20%

0%

Juice WaterCSD

Energy

Sports

Milk

Total NARTD Market by Volume (Jun-08)*

CCA Frucor Private Label Other

* Areas in the above diagram are indicative only

Market Size

Ma

rke

t S

ha

re

6

Significant CSD initiatives will drive EBIT growth over the nextfew years

% C

on

trib

uti

on

to

EB

IT G

row

th

2008 – 2010 Key Drivers of EBIT Growth

CSD

Non CSD

Alcohol & Coffee

Project Zero

25%

30%

20%

25%

7

2005 2008 2008

At 18% of volume, multi-pack can CSD volumes are small relative to Australia (at 44%) and are a major growth opportunity

New Zealand Australia

Cans % Grocery CSD (Volume)

15%18%

44%

8

Momentum is building with multi-pack can growth accelerating

Launched Progressive 30 pack and Foodstuffs 24 pack in 2008

Multi-pack can reset completed in Progressive and Foodstuffs

9

Cold drink availability expansion in Grocery is significant

10

% C

on

trib

uti

on

to

EB

IT G

row

th

2008 – 2010 Key Drivers of EBIT Growth

CSD

Non CSD

Alcohol & Coffee

Project Zero

25%

30%

20%

25%

Significant Non-CSD initiatives will drive EBIT growth over the next few years

11

The Energy category is 4 times larger in New Zealand relative to Australia – the opportunity is significant

Retail Market Value Energy NZ$230m Retail Market Value Energy A$700m

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And with the launch of Relentless CCA is beginning to become a significant energy player with 21.2% share of the energy category

2,000 dedicated energy cooler doors in 1H 2009

New Zealand’s No.2 energy brand

Large pack energy 440ml Relentless

13

And momentum will be fuelled by the launch of a second flavour- ‘Relentless Inferno’

Juice based energy hit!

14

The launch of Glacéau and PUMPED will tap the health and wellbeing trend and further build premium in the water category

29.1%

Pump value share of

Water category MAT Sep-08

27.3%

Leveraging the existing brand strength of PUMP

New product launch

15

0.0

0.5

1.0

1.5

2.0

2.5

2005 2007

Un

it C

ases (

millio

ns)

New Zealand Powerade per capita consumption now exceeds Australia and has grown by 35% between 2005 - 2007

35% CAGR

0

2

4

6

8

10

12

14

2000 2001 2002 2003 2004 2005 2006 2007

Australia

New Zealand

Powerade Volume Growth

Powerade Consumption Per Capita

Key growth drivers:

• Isotonic launch

• All Blacks promotional activity

• Flavour variants

• Multi- packs to come

16

% C

on

trib

uti

on

to

EB

IT G

row

th

2008 – 2010 Key Drivers of EBIT Growth

CSD

Non CSD

Alcohol & Coffee

Project Zero

25%

30%

20%

25%

Significant Alcoholic Beverage and Coffee initiatives will driveEBIT growth over the next few years

17

Café Direct was acquired in March 2007 doubling the EBIT contribution from the vending business

• B2B free-vend coffee provider

• Margin on consumables

• 40% market share

• 1200 outlets and 1500 machines

• Integrated with vending operations

• Hot beverage 12% of Convenience & Leisure value (RTD)

18

The launch of premium beer and Jim Beam ready-to-drink manufacturing is growing new earnings streams

Manufacture of Jim Beam RTD commenced in September 2007

Pacific Beverages NZ has already captured 4% of the premium beer category*

*Source ACNeilsen scan Quarter to Sep-08

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Product innovation and brand development is the key to CCA’s differentiation and driver of the continued volume growth of alcoholic beverages

VOL % SHARE VOL % SHARE

VOL RANK MANUFACTURER (Aug 08 YTD) +/- YA VOL % CHG YA

1 LION NATHAN 48.8 -0.2 20.8

2 DB BREWERIES 33.3 -2.6 12.4

3 INDEPENDENT LIQUOR 10.9 2.2 52.9

4 COCA-COLA AMATIL NZ LTD 1.8 1.7 5520.7

5 FOSTERS 1.8 0.1 26.2

ALL OTHER 3.5 -1.2 -10.1

Source : Grocery AC Nielsen

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% C

on

trib

uti

on

to

EB

IT G

row

th

2008 – 2010 Key Drivers of EBIT Growth

CSD

Non CSD

Alcohol & Coffee

Project Zero

25%

30%

20%

25%

Significant Project Zero initiatives will drive EBIT growth overthe next few years

21

Project Zero: Auckland distribution centre delivers capacity until 2020 with reduced costs and improved customer service

Auckland DC - Commissioned May 2008

• Capital investment NZ$80m

• 27% increase in pick rates

• 1.7% improvement in pick accuracy

• 9% improvement in customer service scores

• 30% reduction in fleet movements

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Project Zero: 2009 initiatives will focus on manufacturing efficiency, SAP implementation and cost-to-serve reduction opportunities

Auckland Can Line Upgrade Leveraging our infrastructure investment

Hotfill Capability Enterprise and manufacturing efficiency

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2nd

2nd

1st

2nd

1st

1st

1st

1st

2007

1stNo EntryNo EntryNo EntryBest Customer Service Outbound

-

1st

No Entry

3rd

10th

4th

18th

2005

1st

1st

No Entry

2nd

8th

7th

1st

2006

1stNo EntryOverall Supreme Best Customer

Service

tba3rdPEL Supplier of the Year

Grocery

3rd1stCoalface Petro HO

C&L 2nd2ndCoalface Petro Store

1stNo EntryBest Customer Service Inbound

Customer Contact Centre

tba-NARGON Best Supplier

5th4thCoalface Route

20082004Awards

Project Zero: CCA’s investment in customer service is delivering results with the business regularly receiving best supplier in category awards

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Priorities for 2009 are:

• Revenue management initiatives to ensure recovery of COGS

increases

• Leveraging asset base to deliver efficiencies and increasing

capacity

• Further develop the CSD multi-pack can strategy

• Grow energy market share

• Develop premium water offerings (Glacéau / Pumped)

• Alcoholic beverages – increase in customer and brand availability