2008 Operating Group Highlights 23.7 Billion Unit Cases Worldwide

1 billion+ incremental unit cases sold in 2008

590 million+ unit cases 430 million+ unit cases of still beverages of sparkling beverages

2008 Worldwide Unit Case Volume Geographic Mix

27% 15% 17% 17% 24%

Eurasia & Africa Europe Pacific North America Latin America

Unit Case Volume Net Operating Revenues Operating Income

2008 vs. 2007 5-Year Compound 2008 vs. 2007 2008 vs. 2007 Growth Annual Growth Growth Growth

Eurasia & Africa 7% 9% 10% 25% Europe 3% 2% 10% 14% Latin America 8% 7% 18% 20% North America (1%) 0% 6% (7%) Pacific 8% 5% 7% 9% Bottling Investments 14% N/A 1 16% 73% Worldwide 5% 4% 11% 16%

38 The Coca-Cola Company 1 Bottling Investments was formed effective January 1, 2006. [corrected page] Eurasia & Africa Europe

This was a strong first year for Eurasia & Africa, which In 2008, the Europe group continued to gain share. Unit represents more than 3 billion consumers. Unit case case volume grew for sparkling beverages by 1 percent and volume increased for sparkling beverages by 4 percent still beverages by 11 percent. We strengthened consumer and still beverages by 21 percent over 2007. Growth in ties through marketing activation of “Happiness Factory,” Turkey was fueled by our Do ˘gadan® tea acquisition and “Coca-Cola Christmas” and our “Zero Zero 7” Quantum successful launches of Coca-Cola Zero and 3G®. of Solace promotion. We successfully extended our In India, Coca-Cola, ® and Sprite unit case volume brand beyond sparkling to still beverage innovations. grew double digits as we continued to improve our We enhanced our energy drink offerings with ® route-to-market and organizational capabilities. In Nigeria, and ® innovations; introduced new brands illy issimo we worked with our bottling partner, Nigerian Bottling and glacéau vitaminwater; and acquired . We Company Plc, to improve our marketplace execution, also met our commitment to have nutrition labeling on leading to 7 percent unit case volume growth. 100 percent of our beverage packages by year end. 12% 49% Trademark Sprite unit case Unit case volume growth volume growth in energy drinks

2008 Unit Case Volume 2008 Unit Case Volume Geographic Mix Geographic Mix

South Africa 14% Middle East 7% Eastern Europe 20% Italy 9% East & Central Africa 12% Southern Eurasia 7% Germany 16% France 8% Turkey 12% Nigeria 5% Spain 14% Other 21% Russia 11% Other 22% Great Britain 12% India 10%

2008 Annual Review 39 Latin America North America

Productivity and system collaboration drove solid In 2008, we made significant progress against our core performance across all key markets and beverage priorities. We strengthened brands with leading consumer categories in 2008, resulting in an 8 percent unit case marketing and new packaging sizes. We improved customer volume growth for Latin America. Strong results across the relationships and capabilities, and strengthened alignment operating group, as well as our strategic acquisitions of with our bottling partners. We grew existing brands such Jugos del Valle and Leão Júnior, made Latin America the as Coca-Cola Zero and trademark Simply; successfully Company’s largest operating group in terms of unit case integrated and grew brands newer to our portfolio, volume for the second consecutive year. Our market share including glacéau vitaminwater, NOS® and Fuze; increased grew in key countries like , Brazil and Argentina, total beverage volume and value share; and maintained and Coca-Cola unit case volume grew 4 percent. We our sparkling beverage category share. Our Foodservice continue to focus on improving marketplace execution portfolio was enhanced through innovations, including the and bottler alignment across this fast-growing region. Gold Peak® tea tower and Fruit Smoothies.

40% 36% Still beverage unit case Unit case volume growth volume growth for Coca-Cola Zero

2008 Unit Case Volume 2008 Unit Case Volume Geographic Mix Geographic Mix

Mexico 44% Argentina 8% Retail 69% Brazil 25% Chile 5% Foodservice 31% Latin Center 13% Other 5%

40 The Coca-Cola Company Pacific Bottling Investments

We accelerated sparkling and still beverage volume Bottling Investments delivered strong volume and growth in 2008—on top of strong growth in 2007. A financial performance, driven by local market execution powerful marketing program for sparkling and juice and accelerating commercial and supply chain capabilities. beverages, along with the successful Yuan Ye tea launch Our efforts fueled solid performance with overall unit case and our Olympic Games activation, contributed to our volume growth of 14 percent for the year. We improved 19 percent unit case volume growth in China. In Japan, profitability in many of our Company-owned bottlers, most we gained market share through performance of trademark notably those in China and India. We drove productivity Coca-Cola, Fanta and Coffee. Focus on marketplace initiatives throughout our operations, generating execution by LG H&H—our new bottling partner in Korea— substantial savings and building a culture of continuous grew both trademark Coca-Cola and key still brands. And, improvement and efficiency. We divested our Remil1 our glacéau vitaminwater launch in Australia delivered and Pakistan operations after returning them to more than double the anticipated unit case volume. sustainable, profitable growth.

8% 42% Sparkling beverage unit case Of our markets experienced volume growth double-digit unit case volume growth

2008 Unit Case Volume Geographic Mix No. 2 Bottler of Coca-Cola products in the world through our China 38% Australia 7% Company-owned bottlers Japan 23% Thailand 5% Philippines 12% Other 15% spanning five continents

1 Refrigerantes Minas Gerais Ltda., a bottling company in Brazil. 2008 Annual Review 41