China – The Commercial Opportunity

of the 21st CenturyDoug JacksonPresident, China Business Unit

China Is Once Again Rising To Global

Prominence

China is expected to overtake

Japan as the second

largest global

economy in 2010

– Goldman Sachs

GDP has been

the largest on

the planet for

9 of last10

centuries

The Past

The Future

Source: quote from NBC during Olympics broadcast

Astonishing Facts

• Largest internet user base of 350 MM

• 710 MM cell phone users

• 5.5 MM university graduates in 2008

• 300 cities with population > 1 MM

China’s Socioeconomic Trends Offer

Tremendous Opportunity For Beverage Growth

20202008

China Middle Class Growth

+435 MMChina Urban Growth

+250 MM

Further Urbanization

More Consumers

With More Money

PopulationPopulation

20202008 20202008

30%70%

China GDP Per Capita

+$3,800

Stronger Economy

20202008

USD $

3X10 Bn

unit cases

Leading To Enormous NARTD* Opportunity

30 Bn

unit cases*Excluding bulk water & white milk

Note: Constant 2008 price and currency neutral2008 - 2020

-80

20

120

220

320

420

520

620

-2,000 2,000 6,000 10,000

• In China, NARTD accounts for only

24%of All Commercial Beverages*

• Coca-Cola captures 14% of NARTD, and this

represents only 4% of All Commercial Beverages

We Are Just Getting Started With Enormous

Opportunities That Lie Ahead

PPP Personal Expenditure Per Capita ($US)

Bubble Size: Population

China Personal Expenditure Rising

China

KO

Per

Cap

ita

Philippines

Brazil

South Africa

Chile

Mexico

Thailand

Argentina

China potential:

11 Bn unit cases

Worldwide

Per Capita = 85

China potential:

4.7 Bn unit cases

*All commercial beverages = NARTD, white milk and bulk water, NA NRTD, and total alcohol

We Are Building A Large Profitable Business

KO Total Volume

2002 - 2008 CAGR +19%

~29%

~71%

0.0

0.3

0.6

0.9

1.2

1.5

2002 2003 2004 2005 2006 2007 2008

Still CAGR +35%

Sparkling CAGR +15%

Billion Unit Cases NARTD Leader

3rd Largest KO Market

New Products –~1/4 Volume Growth

KO Global #1

KO Global #225 Consecutive Quarters

Of Double-Digit Growth

…With Innovation, Investment, Relentless Execution

And Strong Management Team

+0.7

Pts

+0.7

Pts

+0.9

Pts

We Are Winning…

2008 Volume Growth

19%

KO Total

30%

Still

15%

Sparkling

2008 Volume Share

14.5%

NARTD*

4.9%

Still*

52.8%

Sparkling

*Excluding White Milk and Bulk Water

…Which Allows Us To Continue To Scale Up And Accelerate Profitability

Established Clear Leadership Advantage

Against Our Nearest Global Competitor…

Major Global

CompetitorKO

2X

Major Global

CompetitorKO

8X

Major Global

CompetitorKO

6X

Major Global

CompetitorKO

1.6X

NARTD Volume Sparkling

Stills* Juice & Juice Drinks

*Stills includes juice, tea, water, coffee and sports drinks

A Profitable System Investing Ahead Of Demand…

8

…To Create Immense Value For Our Company

2020 Strategic Imperatives

Invest Aggressively In Cold Drink Equipment

Drive One Seamless System

Invest In Our Distribution System To Win At The Point Of Sale

Expand Portfolio To Capture Value

1. Expanding Portfolio To Capture ValueInnovation & Portfolio Expansion

Minute Maid

Pulpy

Juice & Juice Drinks Value-Added Dairy

Sparkling

New

Categories

SparklingTea

Dairy

Water

Juice

New Zealand

Milk

(Equivalent protein of 2 glasses of milk)

Minute Maid

Juice

Coconut

PULPY

A FUSION OF SENSATIONAL GOODNESS

1. Minute Maid Pulpy Super Milky

A Winning Proposition

NUTRITION NEVER TASTED SO GOOD

Today 2020

* Defined using Retail Value

1. Leading To SIX Billion Dollar Brands

2. We Will Continue To Invest In Expanding

Our Distribution Footprint…V

ert

ica

l G

row

th

Horizontal Growth

ExecutionEnhancement

RuralPenetration

Western Expansion

Sales Force

ManagedOutlets

Channel

Picture of

Success

Distribution Partners

…to WIN at the

Point-of-Sale

4.7 MM

Outlets

3. And Invest In Cold Drink Equipment

To Drive Product Availability

Capturing Strategic “Real Estate” In Retail Outlets

Modern Trade

(2/3 door)

6X

General Trade

(1/2 door)

CVS Convenient Store On Premise

4. Our Partners Are Committed To Our 2020 Vision

And Operating Seamlessly To Drive Efficiency

COFCO Bottling Investments Group

Global Innovation

Center

Still

BeveragesCustomer

Management

National

Procurement

Consortium

Coca-Cola

University

One Seamless System

Sichuan

Qinghai

Yunnan

Tibet

Xinjiang

Gansu

Shaanxi

Ningxia

Inner Mongolia

Heilongjiang

Jilin

Liaoning

HebeiTianjin

Beijing

Henan

ShanxiShandong

Jiangsu

Anhui Shanghai

Zhejiang

Fujian

Jiangxi

Guangdong

Hunan

Guizhou

Chongqing

Hubei

Guangxi

Hainan

Zhuhai

4. Continue To Invest In Infrastructure

Expansion

Bottling

Plants

2X+

Bottling plant

China mainland only

2020 Strategic Imperatives

Invest Aggressively In Cold Drink Equipment

Drive One Seamless System

Invest In Our Distribution System To Win At The Point Of Sale

Expand Portfolio To Capture Value