Investor Relations Overview

November 2014

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; 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.

2

Reconciliation to U.S. 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 Generally Accepted Accounting Principles and the non-GAAP financial measures included in the following presentation.

3

Grounded in Strength

+2% Volume

Sept. YTD 2014

+1% Price/Mix

Sept. YTD 2014

Profitable Growth 70% of EP Growth

Our Growth Algorithm Assumes Balanced Top-Line Growth and Productivity

4

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 Sept. YTD 2014

Working Capital

* Source: IHS Global Insights

Global Beverage Industry Growth is Fueled by Macro Trends

Increase in Urban Population

Growth

in Middle Class Growth

in Personal Expenditure Per Capita*

Billion Teens Today

2010 - 2020

5

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

$- $100 $200

RTD Coffee

Functional Hydration

Sports Drinks

RTD Tea

Energy Drinks

Packaged Water

Juice and Juice Drinks

Value-Added Dairy

Core Sparkling

2014–2020 INDUSTRY GROWTH BY MARKET TYPE (%)

We Remain Confident in Our Long-Term Growth Potential

6

30%

16%

54%

Emerging

Developing

Developed

Source: Internal Estimates and Canadean 2014 - 2020 NARTD Industry Value Growth: › $300B

#1

NM

#1

#2

#5

#3

#2

#1

#1

KO Value Position

We Have a Broad and Growing Portfolio of Brands

Schweppes is owned by the Company in certain countries other than the U.S. 7

We Have the World’s Strongest Beverage System

Brands in

Countries

Bottling Partners

Customer Outlets

Million

Global System Employees Thousand

Top 10 Private Employer

Billion Servings Every Day

Nearly

8

We Are Expanding Our Brands and Capabilities with Our New Partnership Models

• 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

9

We Are Focusing on Price Realization Across Our Geographies

10

*For September YTD 2014

Price/Mix*

1% 8% 5% 7% 1%

-2% -1%

Consolidated LAG EUR EAG NA APAC BIG

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…

11

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)

• Information Technology

…and We Will Deliver $3 Billion in Annualized Savings by 2019

We Generate Strong Free Cash Flow

12

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 ~$2.5 Billion in 2014

3

SUSTAINABLE VALUE CREATION

1 2

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

3

• Net Share Repurchases ~$2.5 Billion in 2014

4

We Have a Disciplined and Consistent Prioritization for Cash

13

Leverage (2011 to 2013)

Our Capital Structure Balances Financial Flexibility with Cash Returns to Shareowners

14

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

Business Update

• More challenging macro environment leading to slower industry and Company growth versus expectations

• Our execution in various markets can be improved, notably Europe

• Progress to date in North America and key emerging markets

Overview of Third Quarter 2014 and YTD Performance

16

We Remain Confident in the Long-Term Opportunity

17

Long-Term NARTD Opportunity

•Short-term macroeconomic headwinds

•Mid single-digit revenue growth over the long term

3%

2%

Core Sparkling NARTD

Core Sparkling Is Resilient

September YTD 2014 Retail Value Growth

Growth Potential in Stills

$- $100

Sports Drinks

RTD Tea

Energy Drinks

Packaged Water

Juice and Juice Drinks

Value-Added Dairy

Retail Value Growth 2014-2020

17

B

While We Are Evolving Our Long-Term Growth Targets, Our Long-Term EPS Target Is Unchanged

18

Net Revenues 5-6%

Operating Income 6-8%

Earnings Per Share High Single Digits

Net Revenues Mid Single Digits

Profit Before Tax 6-8%

Earnings Per Share High Single Digits

Note: Targets are comparable currency neutral

Previous Long-Term Growth Targets

New Long-Term Growth Targets

18

5 Priorities Are Critical to Our Success

19

We Are Taking Actions to Improve Performance

20

Streamlining and simplifying our operating model

Refocusing on our core business model

Targeting disciplined brand and growth investments

Driving revenue and profit growth with clear portfolio roles across our markets

Aggressively expanding our productivity program

1

3

4

5

2

• Speed decision making

• Flexibility and focus

• Empower our people to drive growth

• Focusing role of our Corporate Center

• Linking long-term incentives to line-of-sight metrics

Streamlining and simplifying our operating model

21

1

21

Aggressively expanding our productivity program

22

Streamlined

Operating Model

Restructured

Global Supply

Chain

Zero-Based

Budgeting

Marketing

Efficiency

$3B in annualized

savings by 2019

Support investment

to deliver sustainable

net revenue growth

+

Margin enhancements

+

Improved ROIC

2

22

Refocusing on our core business model

23

3 3

• Refranchise majority of our Company-owned bottling territories in North America by end of 2017

• Intend to substantially complete refranchising of remaining territories no later than 2020

• Outside of North America, continue to pursue opportunities to refranchise

23

Targeting disciplined brand and growth investments

24

3 4

Sparkling Accelerate top-line growth across

Coca-Cola, Fanta and Sprite

• Improve the quality of marketing • Scale global investments through a networked

marketing model

Still

4

24

Build on global leadership in still beverages and accelerate growth over time

• Continue to invest in our core growth priorities • Expand investments in selected profitable categories

Innovation

Sweeteners Plant PET Small Packs

25

5 Driving revenue and profit growth with clear portfolio roles across our markets 5

25

Incentives Tied to Portfolio Roles

Growth Model Based on Segmented Market Roles

Balancing:

• Price realization

• Volume

• Incidence and transactions

Full Year 2015 Expectations

26

Challenging macro environment

Transition in operating model

Productivity savings will take time to achieve

26

Additional details provided in December modeling call

We do not expect 2015 comparable currency neutral EPS growth to differ significantly from 2014

Currency headwinds continue, mid single-digit impact on profit before tax

Our Reach Is Truly Global and

Truly Local

A Truly Global Business

North America

21% of Total Company Unit Cases

24% of Total Company Operating Income

Latin America

29% of Total Company Unit Cases

28% of Total Company Operating Income

0% FY 2013 Volume Growth

+1% FY 2013 Volume Growth

Europe

14% of Total Company Unit Cases

28% of Total Company Operating Income

-1% FY 2013 Volume Growth

Eurasia & Africa

15% of Total Company Unit Cases

11% of Total Company Operating Income

+7% FY 2013 Volume Growth

Asia Pacific

21% of Total Company Unit Cases

24% of Total Company Operating Income

+3% FY 2013 Volume Growth

Note: Total Company Operating Income on this page totals >100%, as it does not reflect Corporate expenses. All percentages are based on full year 2013 data.

28

Europe: Future Growth Opportunities Despite Headwinds

Billion

Europe’s NARTD Industry Retail Value Growth

• Top 3 Sparkling Brands

• Opportunity for Volume and Value Share Gains

• Largest NARTD Retail Value Pool

Europe Group

2012 2020

29

Asia Pacific: A Tale of Two Worlds Growing Together

Vietnam

+25%

2013 Volume Growth Rates

Indonesia

+10%

India

+4% Thailand

+9%

China

+3%

• GDP Per Capita

Developed

~$35K

• GDP Per Capita

Emerging

~$6K

30

NARTD Industry Volume Growth

2012 2020

NARTD Industry Retail Value Growth

2012 2020

Eurasia & Africa: A Solid Foundation to Capture Growth

#3 RTD Tea

#1 Juice & Juice Drinks

#1 Sports Drinks

#2 Packaged Water

#1 Sparkling

31 Note: Beverage category rankings are for volume share

North America: Executing Our Consistent Strategy to Win in this Profitable Market

• Build Strong Brands

• Translate Brand Value into Customer Value

• Invest in Capabilities to Sustain & Repeat

Our Strategy

• Expanding Population

• Favorable Demographics

• Vibrant NARTD Business

Our Market

2013 Full Year

Volume Share

Sparkling

Sports Drinks

RTD Tea

Juice/Juice Drinks

Energy Drinks

Still

Value Share

NARTD

32

4% 4% 4% 4% 6%

Latin America Group

Latin Center Mexico Brazil South Latin

4-Year Volume CAGR 2010-2013

Latin America: We Are Delivering Sustainable and Balanced Growth

33

Bottling Investments Group & CCR Continue to Evolve

Company-Owned Bottlers Management/Oversight Role Recent Bottling Divestitures

• Largest Global Bottler • 20 Markets • > 25% of System Volume • ~115K Employees

CCR: Coca-Cola Refreshments

34

BIG Is a Growth Accelerator for the System

• Provide Strategic Market Leadership to Drive Growth

• Act as Venture Capitalist to Move Quickly into a Market

• Resolve Ownership and Management Changes – Structural or Philosophical

• Create Long-Term Sustainable Growth

• Act as a Model of Collaboration with Other Bottlers

35

We Build Sustainable Businesses

• We Manage the Business for the Long Term – Key Metrics: OI, EBITDA, Economic Profit, Margin

Improvement, Volume AND Value Share

• Committed to Refranchising

• Finding the Right Partner Is Key – Aligned, Long-Term Strategy for the Business

– Proven Management Team with Capabilities in Market Environment

– Financial Flexibility and Willingness to Invest in the Business

– Strong Culture / Engagement

36

Investor Relations Overview

November 2014