2010 Annual Review Advancing our global Momentum We are refreshing more people than ever before We began serving a delicious and refreshing sparkling beverage 125 years ago in Atlanta, . With that first moment of refreshment came a thirst for more that continues to this day. We now have more than 500 brands and 3,500 beverage products and sell 1.7 billion servings per day in over 200 countries. We are growing our reach, strengthening our brands and advancing our global momentum, every moment of every day.

2 letter to Shareowners 14 Growing Our Juice Business 28 Management 5 Selected Financial Data 16 Expanding Our Beverage Portfolio 30 Board of Directors 6 125th Anniversary 18 Engaging with Consumers 31 shareowner Information 8 2010 Highlights 20 Doing Business Sustainably 32 Company Statements 10 Per Capita Consumption 22 2010 Operating Group Highlights 33 2020 Vision Goals 12 Momentum in North America 26 Business Profile A Letter from Our Chairman and Chief Executive Officer

Working with our nearly 300 bottling partners, This disciplined, systemwide execution is we added more than 1 billion incremental already showing significant results. In 2010, unit cases of volume to our business in 2010. we grew daily servings of our beverages Our unit case volume grew 5 percent, and to 1.7 billion. At the same time, system we exceeded our long-term growth target revenues have grown to more than for unit case volume and operating income. $100 billion. We have also made some big, bold decisions along the way, including a Trademark Coca‑Cola, the lifeblood of our commitment to more than $25 billion in business, accounted for nearly 400 million new system investments over the next unit cases of incremental volume, the five years in markets around the world. largest incremental growth we have seen since 2007. In addition, Pulpy, Creating value with our bottling partners a juice drink that was developed just five years also means capturing the hearts and minds ago in China, grew into our 14th brand to of our consumers, customers, associates, achieve annual retail sales of more than communities and other stakeholders who $1 billion. honor us by inviting us into their lives each day. As stewards of the world’s most valuable Dear Fellow Shareowners: In 2010, our Company generated $9.5 billion brand, we feel a deep responsibility to This past year, I had the privilege of visiting in cash from operations, up 16 percent ensure all the work we are doing across our Coca‑Cola operations in 17 countries on over 2009. We returned $7.2 billion to our the sustainability spectrum is creating four continents. During my travels with our shareowners by repurchasing $3.1 billion in tangible value for our system and for the associates around the world, we opened Company stock and paying $4.1 billion to communities we serve. new bottling plants, visited research and shareowners through dividends. In fact, development centers, worked with retail we have increased our annual dividend From helping rebuild Haiti’s farming customers, met with consumers and suppliers, payments for 49 consecutive years. industry to empowering 5 million women and collaborated with an assortment of entrepreneurs across our value chain by amazing leaders from business, government Winning Together with 2020, our sustainability efforts are and civil society. From the bustling cities of Our Bottling Partners central to our 2020 Vision of doubling China to the remote villages of South Africa, One of the most important ways we have our business in the next 10 years. I walked away with one overriding impression advanced our momentum around the world of The Coca‑Cola Company. What I saw and has been our ability to work together with continue to see in the second decade of the our global bottling partners in support of our 21st century is a company that is steadily shared 2020 Vision, which we unveiled in 2009. and strategically advancing its momentum Collectively, we own, inspire and drive all around the world. our 2020 Vision every single day.

2 the Coca-Cola Company A Global Picture of Success Our still beverage portfolio is growing Over the next 10 years and beyond, the As you will see in the pages to follow, our globally as well. In our Latin America Group, United States will have some of the business and our brands are stronger and for example, two of our biggest growth stars world’s most attractive demographics growing around the world. In 2010, we gained are Del Valle and Leão. Del Valle is now the for our business. By 2020, the United States volume and value market share globally, as leading juice drink brand in the region, will add about 31 million people, and its well as in both our North America and while Leão commands a leading position teen population will also be around International operations. in the important Brazilian ready-to-drink 31 million. Only India and China will Our sparkling beverage business is growing tea category. have larger teen populations. in every operating group around the world. We have also made great progress with When you factor in this growing, young, Nowhere is it growing faster, however, than in our still beverage portfolio across our diverse and vibrant population, an innovation- our Eurasia & Africa Group, where, in 2010, Pacific Group, especially with the addition of and entrepreneurial-based economy, and a Trademark Coca‑Cola volume increased Minute Maid Pulpy. This exciting new juice heritage of reinvention, you can see why we 9 percent and volume increased drink is unique to our portfolio of billion dollar remain very bullish on North America. 14 percent. brands in at least one important way. It was In 2010, we began executing one of our first billion dollar brand launched One of the most exciting sparkling beverage the largest vertical integrations in from an emerging nation—China. developments in our Eurasia & Africa U.S. history when we announced that Group is Russia’s recent success with What is equally impressive is that it took just The Coca‑Cola Company would acquire the brand Coca‑Cola. Our flagship brand grew five years to achieve billion dollar status. entire North American business of Coca‑Cola 26 percent in 2010, representing our largest Minute Maid Pulpy is a great example of Enterprises Inc. (CCE), which accounted for ever year-over-year incremental volume fast and effective innovation transfer, approximately 75 percent of U.S. bottler- growth in Russia. as it has spread from China and is now a delivered volume and almost 100 percent Not too long ago, cynics were dismissing premier juice drink brand in 19 markets of Canadian bottler-delivered volume. around the world and counting. Europe as a market of diminishing returns Amid this effort, our North America Group for sparkling beverages. However, the delivered organic volume growth for each North America reality is just the opposite. Even in the of the last three quarters of 2010. We grew For the last two years, I have been saying recent challenging economic conditions, volume and value market share, increased that restoring North America to its rightful Trademark Coca‑Cola is growing across brand loyalty and saw stronger share in the place as a center of growth and innovation our Europe Group, buoyed by new very important chilled sparkling beverage is a top priority for The Coca‑Cola Company. recruitment strategies for brand Coca‑Cola, immediate-consumption channel. new innovative packaging designs and Quite frankly, it makes good business sense. marketing for Coca‑Cola light, and the Our plan for continued growth starts with our continued momentum of Coca‑Cola Zero. strong brands. Our focus is on accelerating profitable growth and share within the

2010 Annual Review 3 sparkling beverage category, led by much more in common culturally and 125 and Beyond Trademark Coca‑Cola. Today, in North historically with central Asia than with coastal This year—on May 8 to be exact—we America we command the top two China. Like much of rural China, it is a region celebrate the 125th anniversary of one sparkling beverages in brand Coca‑Cola in transition as China’s government tries of the world’s greatest consumer product and brand . At the same time, to open its isolated northern and western innovations—Coca‑Cola. As we mark this we are moving aggressively to increase frontiers for greater development and trade. milestone, we see a company and a system the value of our still portfolio, particularly in shaped by its youth and not its age. We see While I was there, I sensed from talking fast-growth categories like ready-to-drink a company and an industry with incredible to government leaders, shopkeepers and tea, coffee and enhanced water. And we possibilities. And we see one unified system, families of our associates that this was are strengthening our innovation pipeline guided by 700,000 of the world’s greatest a community in which they believed—a to develop and deploy new packaging people and aligned behind one compelling community of tremendous promise and and equipment. and achievable vision. a place destined for a better tomorrow. And, of course, they wanted Coca‑Cola We look forward to continuing this exciting Story Behind the Numbers to be part of their future. journey with you. And most of all, we thank Around the world, there is a more you for your support and investment in our powerful story than just the numbers Our plant opening in Hohhot had the Company. Your trust and confidence in the on a financial statement. atmosphere of a FIFA World Cup™ match. fine women and men ofC oca‑Cola are what It was a significant moment in Hohhot’s It is what I see—and what our people see— wake us up in the morning and fuel us late history—a moment I will never forget. We every day in the market. It is a world yearning into the night. Rest assured we will continue have witnessed similar stories playing not just for the beverages we provide but for to work tirelessly to protect and grow the out in places like Afghanistan, Egypt, the ideals and values we represent— value of your investment in our Company. Haiti, Iraq, Pakistan and Ramallah, in ideals like community, fun, happiness and the the Palestinian territories, and dozens My sincerest gratitude, hope for a better tomorrow. of nations around the world. In these I have seen these ideals play out firsthand, places, and so many others, we sense the hundreds of times, in all corners of the optimism and the belief that a better day globe. Last year, I was in Hohhot, a city in is coming—not just a better business day Inner Mongolia, to help open a new bottling but a better day for society, communities plant. Hohhot sits in the heart of China’s and humanity. dairy country, where the nation’s northern We have always believed that Coca‑Cola grasslands meet the edge of the Gobi Desert. represents that optimism, that magical Muhtar Kent There is an indescribable beauty to the force that underscores and celebrates Chairman of the Board of Directors landscape and a palpable sense of enterprise our humanity. And we wholeheartedly and Chief Executive Officer among its people, many of whom share believe that is our secret formula. March 31, 2011

4 the Coca-Cola Company Selected As Reported Financial Data and performance Year Ended December 31, 20101 2009 2008 2007 at-a-glance (in millions except per share data)

Summary of Operations Net operating revenues $35,119 $30,990 $31,944 $28,857 Operating income 8,449 8,231 8,446 7,252 Net income attributable to shareowners of The Coca‑Cola Company 11,809 6,824 5,807 5,981

per Share Data Basic net income $5.12 $2.95 $2.51 $2.59 Diluted net income 5.06 2.93 2.49 2.57 Cash dividends 1.76 1.64 1.52 1.36

Balance Sheet Data Total assets $72,921 $48,671 $40,519 $43,269 Long-term debt 14,041 5,059 2,781 3,277

Unit Case Volume Net Operating Revenues NET Income Operating Cash Flow (in billions) (in millions) (in millions) (in millions)

2008 2009 20101 2008 2009 20101 2008 2009 20101 2008 2009 20101 23.7 24.4 25.5 $31,944 $30,990 $35,119 $5,807 $6,824 $11,809 $7,571 $8,186 $9,532

1 Includes the impact of the Company’s acquisition of Coca‑Cola Enterprises Inc.’s North American business and the sale of our Norway and Sweden bottling operations, which closed on October 2, 2010

2010 Annual Review 5 Share a Coke, share the

In 1886, Dr. John Pemberton created a great-tasting beverage that the Company brand. In 1899, Benjamin Thomas and Joseph Whitehead was first served as a fountain drink at Jacobs’ Pharmacy in downtown from Chattanooga, Tennessee, gained the rights to bottle Coca‑Cola and Atlanta, Georgia. The business started small, with a modest nine drinks laid the groundwork for the unrivaled Coca‑Cola bottling and distribution served per day. system the world knows today.

Our success with Coca‑Cola® began by spreading the word. In the 1920s, Robert Woodruff, president of The Coca‑Cola Company, Asa Candler, an Atlanta businessman, drove Coca‑Cola’s popularity envisioned global expansion for Coca‑Cola and developed a separate through unique marketing approaches, many of which are still used organization within the Company specifically designed to market and today. Through his use of coupons and Coca‑Cola-branded souvenir sell Coca‑Cola outside the United States. By 1930, Coca‑Cola was fans, calendars, clocks and urns, Candler pioneered ways of promoting bottled in 27 countries.

6 the Coca-Cola Company To learn more about our Company and to view A Short History of The Coca‑Cola Company, go to the momentum “Heritage” section at www.thecoca-colacompany.com.

Subsequent years brought continued product expansion, particularly juices and juice drinks, waters, sports and energy drinks, teas, coffees when the Company dispatched 64 portable bottling plants to quench and dairy-based beverages to meet the preferences and needs of our the thirst of U.S. troops during World War II. These plants, which were consumers. To promote these beverages, we continue to use traditional sent to Europe and eventually to Africa and the Pacific, enabled the forms of media—radio, print and television advertising—and today Company to comfort the troops with Coca‑Cola—a reminder of home— combine those with emerging media such as social, mobile and gaming. and create a foundation for growing our business internationally. 2011 marks the 125th anniversary of Coca‑Cola, and we see opportunities Over the years, as Coca‑Cola gained popularity worldwide, consumer as exciting as those our predecessors must have seen back in 1886. demand for new products and packaging emerged, and our beverage Together with our global bottling partners, our journey is just beginning, portfolio grew. We created low- and no-calorie sparkling beverages, and we see a bright future ahead in the next 125 years.

2010 Annual Review 7 2010 Company and Coca‑Cola System Highlights Continued to roll out Coca‑Cola Freestyle units in more than 200 restaurants and attractions throughout the United States. By the end of 2010, these next-generation dispensers, which offer 106 individual drink choices while eliminating 30% of water and packaging from the supply chain, were available in 15 U.S. markets. Grew worldwide volume Completed the 13th season 5%, led by Coca‑Cola. of Copa Coca‑Cola™ in Mexico. In 2010, this soccer program had approximately 80,000 youth participants. Received a prestigious DuPont Award for Packaging Globally, our physical activity ™ Innovation for our Company’s PlantBottle polyethylene and nutrition programs have terephthalate (PET) package, the first plastic beverage reached millions of people bottle in the marketplace today made from up to 30% in nearly 100 countries. plant-based material that is fully recyclable. PlantBottle also won the 2010 Design for Recycling Award from the Institute of Scrap Recycling Industries, Inc.

Welcomed 1.1 million guests from around the globe to the World of Coca‑Cola in Atlanta, Georgia, exceeding our attendance expectations against the backdrop of continuing economic challenges facing consumers.

Launched Minute Maid NutriBoost™ in Vietnam Created the 111 Navy Chair, the result of a partnership (locally known as Minute Maid Nutri Ngon- between our Company and the furniture manufacturer Emeco, by combining 111 recycled PET plastic bottles and Khoe). This great-tasting dairy and juice drink, other materials, including pigment and glass fiber, for primarily targeted at young adults who enjoy strength. Going forward, it is estimated that more than an active and healthy lifestyle, is fortified with 5 million PET plastic bottles will be repurposed annually essential nutrients. for the production of 111 Navy Chairs. In addition to chairs, our growing recycled PET retail merchandise includes bags, caps, notebooks and T-shirts. Introduced ™ Heart Health Superfood, a berry blend that contains 0.4 grams of plant ™ sterols, naturally sourced from plant extracts, Added I LOHAS Mikan, a Placed more than 160,000 units which may help reduce cholesterol and sparkling beverage made with with hydrofluorocarbon (HFC)-free support cardiovascular health. Japanese natural spring water refrigeration systems in 2010 for a total of and extract from the satsuma more than 275,000 units placed since 2004. mandarin, a domestically Since 2006, we have installed more than produced fruit popular 3.5 million intelligent energy management throughout Japan, to the Made our presence carbon neutral for the devices that reduce energy consumption I LOHAS mineral Vancouver 2010 Olympic Winter Games by by monitoring the energy use of our water brand. refrigeration units. We also have invested offering 100% commercially compostable more than $60 million since 2000 beverage cups, debuting our PlantBottle in research and development packaging and deploying HFC-free coolers to advance the use of climate-friendly and vending equipment. We also used 126 PET cooling technologies. plastic bottles for each of the 600 Coca‑Cola associate Olympic Games uniforms, totaling 75,600 recycled bottles.

Achieved billion dollar ™ Launched Hugo in Peru and Argentina, a dairy brand status for Minute Maid and juice drink that combines milk and fruit Pulpy™ just five years after nectar in three new flavors—banana-orange, its initial launch in China. peach and cherimoya-orange. The flavors offer It surpassed retail sales of refreshing, creamy combinations that satisfy $1 billion and became consumers’ tastes. our Company’s 14th billion dollar brand.

Completed Expedition 206, Maintained our leadership as the in which three young “happiness world’s largest juice and juice drink ambassadors” visited 186 of the 206 countries where Coca‑Cola is company, selling nearly 2 billion unit Celebrated the cases of juice and juice drinks across sold, seeking stories of happiness fifth anniversary of and documenting their voyage Coca‑Cola Zero™, more than 70 brands. ™ ™ ™ via Facebook , YouTube , Twitter , which is now available ™ Flickr and a blog. in more than 130 countries.

2010 Annual Review 9 per capita consumption of company beverage 2010 Consumption Snapshot 1 products

India 11 Mali 12 89 servings Indonesia 13 consumed Pakistan 15 per person Nigeria 28 worldwide China 34 in 2010 Kenya 40 Egypt 54 Russia 69 South Korea 69 Morocco 84 Worldwide 89 Thailand 94 Colombia 125 Italy 139 France 143 Philippines 144 Turkey 159 El Salvador 166 Japan 178 Germany 179 Peru 193 Great Britain 204 Bolivia 221 Brazil 229 To measure our growth potential, we look to our per capita Canada 236 consumption—the average number of 8-ounce servings of our South Africa 254 beverages consumed each year in a given market. It is predicted Austria 255 that by the year 2020, the world will have nearly 1 billion more people Panama 258 whose disposable incomes will afford them choices and opportunities Spain 284 unthinkable a generation ago. We must discover innovative ways to Argentina 318 connect with our traditional consumer base and this emerging global Australia 319 middle class—by creating new products and packaging formats for United States 394 all lifestyles and occasions. Chile 445 Malta 606 1 Based on U.S. 8 fluid ounces of a finished beverage Mexico 675

10 the Coca-Cola Company Advancing our global momentum For 125 years, we have looked for innovative ways to supplement our beverage portfolio by anticipating and meeting our consumers’ preferences and needs. We continue to grow in tough economic times and play a leadership role in driving sustainable, environmentally responsible business practices in the communities where we operate. Moments of refreshment We serve Coca‑Cola nearly 200 million times a day in North America.

Momentum in North America

Diet Coke™ is No. 2 Important moments in Diet Coke is now the No. 2 our 125-year history: sparkling beverage brand in We introduced the first automatic the United States behind our soda fountain dispenser in 1933 flagship brand,C oca‑Cola. at the Chicago World’s Fair. Growing the business in North America is essential to the future of our Company.

North America, our flagship market, is a developed power of each brand in our North American portfolio; market with significant opportunities for long-term deliver significant cost and revenue synergies; growth, driven by a large and growing population operate a fully integrated, world-class supply chain and strong disposable income. that is a global leader in quality, customer service, safety and sustainability; and further enhance a Our plans for growth start with strong brands. system that embodies a growth-oriented, externally We are focused on accelerating expansion and focused and customer-driven environment. share in the sparkling beverage category, led by Coca‑Cola, while increasing the value of our still Our newly formed North American business system, beverage portfolio and strengthening our innovation consisting of Coca‑Cola Refreshments and Coca‑Cola in brands, packaging and equipment. Within the North America, will operate with distinct capabilities, sparkling beverage category, we are engaging with responsibilities and strengths and is expected to teens and moms in new and exciting ways to reinforce deliver at least $350 million in annual synergies the connection they have with our brands. And within by the end of 2014. our still beverage portfolio, we are building strong ™ In the next 10 years, the U.S. brands for today and tomorrow, such as glacéau , We believe the reshaping of our North American teen population will become the ™ and Simply. business will help us achieve our strategy of creating third largest in the world, after capabilities that enable us to sustain and repeat India and China. Using digital platforms, we are well-equipped We are also transforming our ability to translate our success. We are implementing best practices to capture opportunities within the value of our brands into value for our customers. from our global system and developing a disciplined, this growing segment. On October 2, 2010, we completed the acquisition proven execution approach to create a distinct of the North American operations of Coca‑Cola competitive advantage across our business, from Enterprises Inc.— a move designed to help us cutting-edge marketing and in-market execution sustainably grow volume, profit and share in line to world-class procurement, product supply and with our 2020 Vision; bring to life the passion and customer service.

2010 Annual Review 13 growing our juice business

World’s largest juice and juice drink company The Coca‑Cola Company is the world’s largest ready-to-drink juice and juice drink company, with nearly twice the market share we had 10 years ago.

Launch of Minute Important moments in Maid Kids Tropical™ our 125-year history: Minute Maid Kids Tropical, introduced The Coca‑Cola Company in Tunisia, is fortified with vitamins acquired the Minute Maid and made from the juice of five fruits: Corporation in 1960, adding orange, pineapple,apple, peach a line of juice products to and mango. our portfolio. We are continuing to meet the needs of consumers by growing our juice business.

The juice and juice drink category is a fast-growing Minute Maid and Minute Maid Pulpy, Odwalla, and dynamic segment of nonalcoholic ready-to-drink ™ and Simply, we are able to offer a wide variety (NARTD) beverages. We recognize consumers drink of options, each of which is tailored to the preferences juice to enjoy the great taste and receive the benefits and needs of consumers in individual markets. of fruit and natural nutrition. To meet their needs, we offer a range of more than 1,000 products, including Our juice business depends on a variety of natural In March 2010, we announced the juices, nectars, juice drinks and smoothies, made from ingredients. To ensure the health of our products Haiti Hope Project in partnership with the Multilateral Investment a variety of fruits sourced from all over the world. and longevity of our business, we are doing our part Fund of the Inter-American to support agricultural initiatives to reduce costs, Development Bank (IDB), the U.S. Agency for International For our juice business, our strategy centers on a improve ingredient quality and promote sustainable Development (USAID) and combination of organic growth, strategic acquisitions practices. One example of our agricultural advocacy TechnoServe. This five-year, and innovative products and packaging. The packaging is our work to eradicate Huanglongbing, also known $9.5 million partnership creates opportunities for Haitian mango ™ for many of our brands, such as Minute Maid , as citrus greening—one of the most destructive citrus farmers and their families. The Del Valle™, ™ and Cepita™, shares a common crop diseases, which ravages the productive capacity initiative seeks to double the fruit incomes of 25,000 farmers look and feel, which creates a universal product of citrus trees. Together with Sucocitrico Cutrale of and improve local mango farming experience for our consumers. Through more recent Brazil, we have committed to donate a combined capacity, thereby promoting acquisitions and investments in dynamic companies, $3 million to the University of Florida Foundation to economic growth and sustainable development. In January 2011, such as , Multon, Nidan and innocent, support research projects designed to protect the Odwalla launched Haiti Hope and with strong organic growth in brands such as health of citrus groves. Mango Tango to replace Haiti Hope Mango Lime-Aid and committed to donating 10 cents for every bottle sold to the Haiti Hope Project, up to $500,000 per year of the initiative.

2010 Annual Review 15 Expanding Our Beverage Portfolio

Our 14 billion dollar brands Coca‑Cola, Diet Coke, Coca‑Cola Zero, Sprite™, ™, Minute Maid, Powerade, ™, ™, vitaminwater™, Georgia™, Sokenbicha™, Simply and Minute Maid Pulpy

No. 1 $1 trillion industry Low- and no- Coca‑Cola Zero turns five The Coca‑Cola Company is the The NARTD beverage industry is calorie beverages Coca‑Cola Zero’s fifth anniversary was celebrated ™ number-one provider of sparkling expected to grow by 50 billion unit More than 800 beverages— with the launch of Caffeine Free Coca‑Cola Zero , beverages, juices and juice drinks, cases by 2020, on the way to nearly 25% of our product which offers all the great taste of Coca‑Cola, with zero and ready-to-drink teas and becoming a $1 trillion industry. portfolio—are low- or sugar or caffeine. The product launched in France, coffees in the world. no-calorie. Japan and Spain, with future launches planned for Belgium, Luxembourg and the Netherlands. The strength of brand Coca‑Cola fuels our expanding portfolio.

Our Company started with a single beverage, and Coca‑Cola Zero following close behind. The Total Unit Case Coca‑Cola, which sold at a single location, Jacobs’ profitability of these brands, as well as our entire Volume Mix Pharmacy in Atlanta, Georgia. With the vision of beverage portfolio, allows us to invest in research • Sparkling Beverages fearless pioneers and creative ingenuity, we have and development to produce a wider array of • Still Beverages grown into the world’s largest beverage company, beverage options. Our profitability also allows us to 11% with more than 500 brands and 3,500 beverage invest in our extensive distribution network, which 2000 products. Our portfolio includes a range of full-, enables our products to reach even the most remote 89% low- and no-calorie sparkling beverages, juices areas of the world. and juice drinks, waters, sports and energy drinks, teas, coffees and dairy-based beverages. In 2010, we gained volume and value share globally 2010 24% in total NARTD beverages, driven by share gains in We offer a variety of high-quality beverage options, both sparkling and still beverages. We attribute this 76% but we continue to rely on the strength and steady growth to targeted consumer marketing at the point growth of brand Coca‑Cola, our flagship brand, to of sale, and to our commitment to offer beverages fuel our rapidly expanding portfolio. Coca‑Cola is tailored to specific markets and consumer needs Incremental Unit the Company’s only product that sells in every market around the world. This commitment is aligned with Case Volume Mix where we operate, with Diet Coke/Coca‑Cola light™ the long-term strategy of the Company to profitably • Sparkling Beverages grow our business in a sustainable way. • Still Beverages

We realize the future is unpredictable, and we may 2000 experience headwinds along the way. However, we 34% 66% Coca‑Cola is believe there is no better consumer business to be in than the NARTD business, and we remain focused

a $67 billion on growing our Company and shareowner value 2010 1 through 2020 and beyond. brand. 46% 54% 1 Annual retail sales (source: Euromonitor International and internal estimates)

2010 Annual Review 17 Reaching out With 5 billion mobile phones in the world, mobile marketing is increasingly becoming the most important medium we use to engage consumers. In 2010, we used mobile marketing campaigns around the world, from daily communication in Japan through Coca‑Cola Park, to consumption-driving campaigns in India, to iPhone™ and iPad™ apps like Magic Bottle.

Olympic Games 22 million fans sponsor since 1928 on Facebook™ engaging Our role as an Olympic Games sponsor provides By the end of 2010, we had nearly 22 million an ideal outlet for connecting consumers to our fans of our Coca‑Cola Facebook™ page and brands by illustrating how our products refresh were the No. 1 Most Followed and the No. 1 athletes, volunteers, officials and spectators Most Influential Food/Beverage Product with during the Olympic Games. Brand on Twitter™. consumers Effectively marketing our products is at the core of our business success.

To us, effective marketing involves striking a balance hybrid vehicles to deliver products, and we between inspirational and operational approaches. sold our beverages in 100 percent recyclable To maximize brand love and brand value, we believe PlantBottle packaging. in the importance and enduring impact of powerful 2010 World Exposition storytelling that engages consumers with our brands Digital media is an increasingly powerful channel in Shanghai and Company. Consumers’ increasing use of digital for communicating with our consumers, particularly The Shanghai 2010 World Expo, technology means we must actively participate to teens. Our “Happiness Machine” viral video, which the largest event in the Expo’s history, attracted more than co-create the content and conversation of our brands. shows hidden-camera footage of students interacting 73 million visitors. The Happiness This shared approach underscores our evolving view with a Coca‑Cola vending machine that unexpectedly Factory pavilion provided of marketing. dispenses flowers, pizza and, of course,C oca‑Cola, The Coca‑Cola Company with an unprecedented opportunity has been viewed more than 3 million times and to engage consumers, media Global partnerships are one way we establish received a coveted Gold Clio award. and key stakeholders. The pavilion showcased product, package connections in consumers’ daily lives while promoting and equipment innovations and our brands and beverage portfolio. In 2010, our In 2010, music was a key component of our integrated provided guests with the opportunity marketing campaign for the FIFA World Cup™, the marketing success. To celebrate the FIFA World Cup™, to taste new beverages and learn about our commitment to building single-largest sporting event in the world, was our we partnered with recording artist K’NAAN to produce sustainable communities in China. biggest global marketing activation ever—spanning “Wavin’ Flag—Coca‑Cola Celebration Mix,” an uplifting Our efforts earned us the Best Expo Marketing Award and Best Pavilion 160 countries. Through a globally connected campaign anthem released in more than 150 markets and from China Business News. leveraging paid, owned, earned and shared media, sung in a dozen languages, which reached No. 1 we extended our impact to billions of consumers. in 17 countries. Building on our music success, we In addition, our sponsorship of the Vancouver 2010 worked with the band Train to launch “Shake Up We began our long-standing partnership with Fédération Olympic Winter Games helped raise awareness about Happiness” for our 2010 holiday campaign, which Internationale de Football the importance of environmental stewardship. At we activated in more than 90 countries. Association (FIFA™) in 1974. those Olympic Games, we eliminated a substantial The song reminded all of us how amount of our direct greenhouse gas emissions sharing a Coca‑Cola can inspire and reduced energy use 35 percent through the moments of happiness. use of 1,400 proprietary HFC-free coolers. We used

2010 Annual Review 19 Water partnership In Zinder, Niger, The Coca‑Cola Africa Foundation and USAID partnered on a project to provide doing business water access and sanitation to sustainably 14,000 people.

Leading the industry Community water projects 2.5 billion PlantBottles In addition to providing basic nutrition Since 2005, we have conducted more than By the end of 2010, we had 2.5 billion PlantBottle information on our products, our Company 300 community water partnership projects packages in the market, and we expect to double made a global commitment—a beverage in 86 countries. External experts estimate this number in 2011. In 2010, the presence of industry first—to provide front-of-package that the equivalent of 31% of the water used renewable material in these packages eliminated

calorie/kilocalorie/kilojoule information in our finished beverages was replenished almost 30,000 metric tons of carbon dioxide (CO2), (per serving) on nearly all of our products through the projects we conducted from or the equivalent of approximately 60,000 barrels by the end of 2011. 2005 through 2010. of oil use for our system. Our commitment to making a positive difference in the world.

We see our commitment to sustainability as more business. We do this by delivering innovative products, than a responsibility. It is an opportunity for us to packaging and systems; strengthening our advanced make a lasting, positive difference in the communities global supply chain; enhancing our presence in in which we operate. From purchasing our ingredients communities; and managing our impact on the world’s to creating and packaging our beverages, we strive natural resources. We recognize people want to to make our business more environmentally and interact with, and purchase products from, companies socially beneficial.L IVE POSITIVELY is our commitment that share their values. By helping people achieve to making a positive difference in the world by active, healthy lives and developing technologies redesigning the way we work and live so that that reduce materials and waste and lower carbon sustainability is incorporated into everything we do. emissions, we are able to think holistically about Both locally and globally, we invest in community sustainability and focus on driving growth in the PROJECT NURTURE initiatives to strengthen the communities where we live. context of bettering the world for future generations. In Uganda and Kenya, we launched To learn more about our sustainability efforts, Project Nurture, a four-year, Through our LIVE POSITIVELY sustainability framework, download the 2009/2010 Sustainability Review $11.5 million partnership with the Bill & Melinda Gates Foundation we strive to create and maintain a sustainable at www.sustainability.thecoca-colacompany.com. and TechnoServe to double the incomes of more than 50,000 small farmers by 2014 by increasing the production of mango and passion fruit. The juice from this initiative will 3,200 local MDCs created support our growing juice business. Building on our commitment to grow our Micro Distribution We have helped independent entrepreneurs create more Project implementation began in Center (MDC) system, 5 BY 20 is our ambitious, global initiative than 3,200 local MDCs to distribute Coca‑Cola products January 2010, and Minute Maid to empower 5 million women entrepreneurs in our system by in Africa, employing more than 13,500 people. Since our Mango Nectar, the first product to 2020. Together with civil society, governments and other private Clinton Global Initiative commitment in 2009, over 50% use locally sourced juice as a result sector partners, we will provide access to financing and financial of our new MDCs are owned and run by women. of this project, was launched in services, business and life-skills training, and mentors and fourth quarter 2010 in Kenya. To networks—all designed to help women overcome barriers to date, more than 23,000 farmers growing their businesses and incomes. have been selected and trained.

2010 Annual Review 21 2010 OPERATING GROUP HIGHLIGHTS 25.5 billion unit cases worldwide

2010 Worldwide Unit Case Volume Geographic Mix 16% 28% 18% Eurasia & Africa Latin America Pacific 16% 22% Europe North America

All Sparkling Still Unit Case Volume Growth Beverages Beverages Beverages

2010 vs. 2009 5-Year Compound 2010 vs. 2009 2010 vs. 2009 Growth Annual Growth Growth Growth Important moments in Eurasia & Africa 12% 9% 10% 21% our 125-year history: Europe 0% 3% 0% 2% Latin America 5% 7% 4% 9% In 1886, Coca‑Cola was available in only one * ** country. By 1957, Coca‑Cola was available in North America 2% (1%) 1% 5% over 100 countries. Today, Coca‑Cola is sold Pacific 6% 6% 2% 13% in more than 200 countries. Worldwide 5% 4% 3% 10%

* 1% excluding the benefit of new cross-licensed brands associated with the acquisition of CCE’s North American business ** 0% excluding the benefit of new cross-licensed brands associated with the acquisition of CCE’s North American business

22 the Coca-Cola Company Eurasia & Africa Europe

In 2010, the Eurasia & Africa Group continued to support our In the Europe Group, we continued to focus on Trademark Coca‑Cola 2020 Vision by delivering broad-based unit case volume growth, during the challenging macroeconomic environment in 2010. Strong up 12 percent for the year. Each of our nine business units in alignment with our bottling partners through the implementation the group increased unit case volume, and brand Coca‑Cola of a new four business unit model helped us predict and respond continued to be our driving force for growth. South Africa delivered to the changing competitive landscape and shopping behaviors. 5 percent unit case volume growth, building on our momentum We developed and implemented packaging strategies to respond coming out of the FIFA World Cup™ marketing programs. Russia to consumer needs through the availability of family packaging finished the year with volume up 16 percent on the strong and lower-cost first-time buyer packaging.I n addition, powerful performance of our sparkling brands, and Coca‑Cola was named marketing of the FIFA World Cup™, holiday campaigns and Best Soft Drink at Russia’s leading business organization’s Product innovative promotions allowed us to relate to, and connect with, of the Year award ceremony. India again delivered double-digit our consumers. In 2010, we also made progress in the juice and volume growth for the year. Our brands now represent four of the juice drink business. We increased our stake in innocent, which top five sparkling brands in India. We also grew our volume by made major breakthroughs across continental European markets. high single or double digits in East and Central Africa, the Middle Europe also made significant advancement in the energy drinks East, North and West Africa, Southern Eurasia and Turkey. category, with double-digit volume growth and share gains.

2010 Unit Case Volume by Geography 2010 Unit Case Volume by Geography

J A A. india 13% A B. South Africa 13% G A. Eastern Europe 18% I C. East & Central Africa 12% B. Germany 15% B D. Turkey 12% C. Spain 14% H E. Russia 10% D. Great Britain 13% F B F. Middle East 7% E. France 9% G C G. Southern Eurasia 7% F. Italy 9% F H. Egypt 5% E G. Other 22% I. Nigeria 5% C D E J. Other 16% D

2010 Annual Review 23 Latin America North America

In 2010, our unit case volume growth of 5 percent in the Latin In our flagship market, we continued to build strong, value-creating America Group led to volume and value share gains in total brands. Sparkling beverage volume was even (up 1 percent NARTD, sparkling and still beverages, including juices and juice including new cross-licensed brands), and we gained both volume drinks, sports drinks, energy drinks and ready-to-drink teas. and value share as we stayed focused on a well-defined brand, This performance made Latin America the Company’s largest price, package and channel strategy. We strengthened our leading operating group in terms of unit case volume for the fourth brands through programs such as the global holiday campaign for consecutive year. We attribute much of this growth to strong Coca‑Cola, Diet Coke Heart Truth™ and the marketing partnerships results leveraging our powerful FIFA World Cup™ program Coca‑Cola Zero and Powerade have with the National Collegiate activation, expansion to other beverage categories, affordability Athletic Association (NCAA). Coca‑Cola Zero continued to deliver strategies and accelerating market investment levels. Brand double-digit growth, while Sprite and Fanta also grew. We continued Coca‑Cola unit case volume grew 5 percent, while still to be the fastest-growing still beverage company, led by double-digit beverage unit case volume grew 9 percent. growth for Powerade and Simply. We drove disciplined execution of our North American strategies while we began the process of integrating CCE’s North American business.

2010 Unit Case Volume by Geography 2010 Unit Case Volume by Geography

B D A. Mexico 43% A. United States 94% B. Brazil 26% B. Canada 6% C. South Latin 17% C A D. Latin Center 14% A

B

24 the Coca-Cola Company Pacific Bottling Investments

In 2010, the Pacific Group delivered a robust 6 percent unit case In 2010, we continued to execute the strategies of the Bottling volume growth, demonstrating our ability to effectively manage Investments Group. Our core focus on top-line growth and and grow our portfolio of brands and markets. In China, we aggressive cost management, combined with marketplace added another 100 million incremental cases, growing our volume execution, operational excellence and productivity, generated 6 percent. We also celebrated Minute Maid Pulpy becoming the strong performance. As a result, we gained share in some Company’s 14th billion dollar brand only five years after it was markets of the group. We also grew unit case volume 10 percent on developed and launched in China. In Japan, the Coca‑Cola system a comparable basis after adjusting for the impact of the sale of our was well-positioned to capitalize on the hot summer, enabling us Norway and Sweden bottling operations and the deconsolidation to grow volume 3 percent for the year, with Trademark Coca‑Cola of certain bottlers required by a change in accounting guidance. growing 5 percent. This marks the fourth consecutive year of Reported unit case volume decreased 1 percent in 2010. We 3 percent growth or more for Trademark Coca‑Cola. We recorded continued to focus on prudent capital planning to ensure we have 14 percent volume growth in South Korea, leveraging the right the capacity to meet sales growth. Our focus on improving strategies and the bottling capability of LG Household & Health environmental metrics has resulted in significant positive changes, Care (LG H&H). The ASEAN1 business unit had a strong year, with especially in energy and water usage. In addition, we opened double-digit volume growth in the Philippines, Thailand and Vietnam. more than 500,000 new outlets in 2010, placed an incremental 268,000 new coolers and continued building market segmentation capabilities to ensure consumers continue to have access to our

2010 Unit Case Volume by Geography brands at the right price. We remained focused on the implementation of Coke One, our end-to-end bottler F operating model that enables the A. china 41% development of standard tools, E B. Japan 21% A C. Philippines 12% data and systems geared toward D D. Australia 6% enhancing sales force effectiveness. E. Thailand 6% C F. Other 14%

B

1 Association of Southeast Asian Nations

2010 Annual Review 25 business profile

The Coca‑Cola Company The Coca‑Cola Company operates in more than 200 countries and markets more than 500 brands and 3,500 beverage products. These products include sparkling and still beverages, such as waters, juices and juice drinks, teas, coffees, sports drinks and energy drinks. We have four of the world’s top five nonalcoholic sparkling beverage brands: Coca‑Cola, Diet Coke, Fanta and Sprite.

The Coca‑Cola System Our bottling partners work closely with customers—grocery stores, We are a global business that operates on a local scale in every restaurants, street vendors, convenience stores, movie theaters community where we do business. We are able to create global reach and amusement parks, among many others—to execute localized with local resources because of the strength of the Coca‑Cola system, strategies developed in partnership with our Company. Through which comprises our Company and our bottling partners—nearly effective collaboration, we are able to sell our products to consumers 300 worldwide. at a rate of 1.7 billion servings a day.

Our Company sources ingredients; manufactures and sells concentrates, The Coca‑Cola system is not a single entity from a legal or managerial beverage bases and syrups to our bottling operations; owns the brands; perspective, and the Company does not own or control most of our and is responsible for consumer brand marketing initiatives. Our bottling bottling partners. In October 2010, we acquired the North American partners and some Company operations manufacture, package, operations of Coca‑Cola Enterprises Inc. (CCE) and sold our Company’s merchandise and distribute the finished branded beverages to Norway and Sweden bottling operations to a new entity, Coca‑Cola our customers and vending partners, who then sell our products Enterprises, Inc. (New CCE). The Company does not have any ownership to consumers. interest in New CCE. We believe this acquisition will result in an evolved franchise system that will enable us to better serve the unique needs of the North American market. The creation of a unified operating system will strategically position us to readily market and distribute our products in North America.

26 the Coca‑Cola Company Company Equity Stake in Large Bottling Partners The Coca‑Cola Company

Coca‑Cola FEMSA, Coca‑Cola FEMSA is the Percent of Company’s Our Ownership S.A.B. de C.V. largest independent Coca‑Cola 2010 Worldwide Interest as of bottler in the world. Coca‑Cola Unit Case Volume December 31, 2010 (Coca‑Cola FEMSA) FEMSA operates in Mexico and also in eight countries in Central 10% 32% America and South America.

Coca‑Cola Coca‑Cola Hellenic is the Percent of Company’s Our Ownership Hellenic Bottling second-largest independent 2010 Worldwide Interest as of bottler of Coca‑Cola beverages, Unit Case Volume December 31, 2010 Company S.A. operating in 27 countries in (Coca‑Cola Hellenic) Europe and in Nigeria—serving 8% 23% a population of approximately 560 million people.

Coca‑Cola Coca‑Cola Amatil is one of the Percent of Company’s Our Ownership Global Workforce 139,6001 Amatil Limited largest independent Coca‑Cola 2010 Worldwide Interest as of bottlers in the Pacific region, with Unit Case Volume December 31, 2010 • Nnorth America 3,800 (Coca‑Cola Amatil) operations in Australia, Fiji, Coca‑Cola Refreshments 66,900 Indonesia, New Zealand and 2% 30% • Llatin America 2,100 Papua New Guinea. Bottling Investments 10,300

Coca‑Cola Enterprises Inc. Transactions • Eeurope 2,500 Bottling Investments 11,200 On October 2, 2010, we acquired the North American operations of CCE and sold our Company’s Norway and Sweden bottling operations to New CCE. The Company does not have any ownership interest in New CCE. Upon • Eeurasia & Africa 2,400 completion of the CCE transaction, we combined the management of the acquired North American business with the Bottling Investments 7,400 management of our existing foodservice business, Minute Maid and Odwalla juice businesses, North America supply • Ppacific 2,500 chain operations and Company‑owned bottling operations in Philadelphia, Pennsylvania, into a unified bottling Bottling Investments 30,500 and customer service organization called Coca‑Cola Refreshments (CCR). In addition, we reshaped our remaining Coca‑Cola North America operations into an organization that primarily provides franchise leadership and consumer marketing and innovation for the North American market. As a result of the transaction and related reorganization, 1 Corporate associates are included in the geographic area in our North American businesses operate as aligned and agile organizations with distinct capabilities, responsibilities which they work. Bottling Investments is an operating group with and strengths. CCR represented 18 percent of the Company’s 2010 worldwide unit case volume. New CCE (existing associates located in four of our geographic operating groups. European operations plus acquired Norway and Sweden bottling operations) represented 5 percent of the Company’s Numbers are approximate and as of December 31, 2010. 2010 worldwide unit case volume.

2010 Annual Review 27 management (effective april 1, 2011)

Operations

Eurasia & Africa Group Latin America Group Pacific Group Bottling Investments Group

Ahmet C. Bozer 1 José Octavio Reyes 1 Glenn G. Jordan S.1 Irial Finan 1 President President President President

Central, East and West Africa: Brazil: Xiemar Zarazúa Greater China and Korea: China, Malaysia and Singapore: Nathan Kalumbu Douglas Jackson Martin Jansen Latin Center: John Murphy India and South West Asia: Atul Singh Japan: Dan Sayre Germany: Damian Gammell Mexico: Brian J. Smith Middle East and North Africa: South Pacific:G areth Edgecombe India: T. Krishnakumar South Latin: Francisco Crespo Curtis A. Ferguson ASEAN 2: Manuel Arroyo Latin America and Japan: Russia, Ukraine and Belarus: Paul Mulligan Zoran A. Vucinic North America Group Middle East and Africa: COCA-COLA REFRESHMENTS South Africa: William Egbe 1 John Guarino J. Alexander M. Douglas, Jr. 1 Turkey: Galya Frayman Molinas President Steve Cahillane Philippines: William Schultz President and Chief Executive Officer Canada: Nicola Kettlitz Canada: Kevin Warren Europe Group Sparkling Beverages: Katherine J. Bayne Commercial Leadership: Julie M. Francis Dominique Reiniche 1 Still Beverages: Brian E. Wynne President Foodservice and On-Premise: Chris Lowe Venturing and Emerging Brands: Central and Southern Europe: Deryck J. van Rensburg National Retail Sales: Melvin F. Landis III Nikos Koumettis Product Supply System: Brian P. Kelley Germany: Hendrik Steckhan Region Sales: Glen Walter Iberia: Marcos de Quinto Northwest Europe and Nordics: James R. Quincey

1 Person subject to the reporting requirements of Section 16 of the Securities Exchange Act of 1934 2 Association of Southeast Asian Nations

28 the Coca-Cola Company SENIOR LEADERSHIP Vice Presidents

Muhtar Kent 1 Glenn G. Jordan S.1 Rudy M. Beserra, Latin Affairs Mary M.G. Riddle, Flavor Chairman of the Board of Directors President, Pacific Group Ingredient Supply and Chief Executive Officer John M. Farrell, Strategic Planning Geoffrey J. Kelly 1 Ed Steinike, Chief Information Officer Harry L. Anderson1 Senior Vice President and Rick Frazier, Supply Chain Ann T. Taylor, Global Business Services Senior Vice President, Global Business General Counsel Javier Goizueta, President, and Technology Services 1 Dominique Reiniche 1 McDonald’s Division Kathy N. Waller, Controller 1 Ahmet C. Bozer President, Europe Group William D. Hawkins III, General Frederick P. Yochum, Corporate President, Eurasia & Africa Group José Octavio Reyes 1 Tax Counsel Supply Chain 1 Steve Cahillane President, Latin America Group Eddie R. Hays, Science President and Chief Executive Officer, Ingrid Saunders Jones Gloria K. Bowden, Corporate Secretary Coca‑Cola Refreshments Janet A. Howard, Diplomatic Relations Senior Vice President, and Associate General Counsel 1 Alexander B. Cummings, Jr. Global Community Connections James A. Hush, Strategic Security Fiona K. Lynch, Assistant Executive Vice President and and Aviation Joseph V. Tripodi 1 Corporate Secretary Chief Administrative Officer Executive Vice President and R. Jackson Kelly, Investor Relations Officer J. Alexander M. Douglas, Jr.1 Chief Marketing and Connie D. McDaniel, Chief of Internal Audit President, North America Group Commercial Officer Christopher P. Nolan, Corporate Treasurer Ceree Eberly 1 Clyde C. Tuggle 1 Senior Vice President and Senior Vice President, Global Public Carletta Ooton, Chief Quality and Chief People Officer Affairs and Communications Product Integrity Officer

1 Gary P. Fayard Jerry S. Wilson1 Marie D. Quintero-Johnson, Executive Vice President and Senior Vice President and Chief Director, Mergers and Acquisitions Chief Financial Officer Customer and Commercial Officer Barclay T. Resler, Government Relations Irial Finan1 Guy Wollaert 1 Executive Vice President and President, Senior Vice President and Bottling Investments and Supply Chain Chief Technical Officer Important moments in our 125-year history: Coca‑Cola made its first Olympic Games appearance at the Amsterdam 1928 Olympic Games at kiosks surrounding 1 Person subject to the reporting requirements of Section 16 of the Securities Exchange Act of 1934 the athletic venues.

2010 Annual Review 29 board of directors

Alexis M. Herman3, 7 Not pictured: Chair and Chief Executive Officer, Howard G. Buffett 7, 8 New Ventures, LLC President, Buffett Farms, and President, Howard G. Buffett Foundation Sam Nunn5, 7 Co-Chairman and Chief Executive Officer, Evan G. Greenberg 1, 9 Nuclear Threat Initiative Chairman, President and Chief Donald F. McHenry 1, 2, 7 Executive Officer of ACE Limited Distinguished Professor in the Practice of Diplomacy and International Affairs, 1 Audit Committee Georgetown University 2 Committee on Directors and Corporate James B. Williams1, 4, 5, 6 Governance Retired Chairman of the Board and 3 Compensation Committee Chief Executive Officer, SunTrust Banks, Inc. 4 Executive Committee Cathleen P. Black 5 Finance Committee Resigned from the Board of Directors 6 Management Development Committee effective December 31, 2010 7 Public Issues and Diversity Review Committee Peter V. Ueberroth1, 5 8 Howard G. Buffett was elected to the Board Investor and Chairman, Contrarian Group, of Directors effective December 9, 2010. Inc., and Nonexecutive Co-Chairman, 9 Evan G. Greenberg was elected to the Board Pebble Beach Company of Directors effective February 17, 2011. Muhtar Kent 4 (From left to right) Chairman of the Board and Chief Executive Officer, The Coca‑Cola Company Jacob Wallenberg2, 7 James D. Robinson III 2, 3, 6 Herbert A. Allen 4, 5, 6 Chairman of the Board, Investor AB, Co-Founder and General Partner, President and Chief Executive Officer, and Vice Chairman of Skandinaviska RRE Ventures Allen & Company Incorporated Enskilda Banken AB Ronald W. Allen1, 3 Maria Elena Lagomasino2, 3 Donald R. Keough6, 7 Advisory Director, Former Consultant and Chief Executive Officer, Nonexecutive Chairman of the Board, Advisory Director, and Retired Chairman GenSpring Family Offices, LLC Allen & Company Incorporated, and of the Board, President and Chief Executive Barry Diller 2, 5, 6 Nonexecutive Chairman of the Board, Officer, Delta Air Lines, Inc. Chairman of the Board and Senior Executive, Allen & Company LLC IAC/InteractiveCorp, and Chairman of the Board and Senior Executive, Expedia, Inc.

30 the Coca-Cola Company shareowner information

Board of Directors Dividends are normally paid four times a Shareowner Internet Account Access from our Industry and Consumer Our Board of Directors (the “Board”) is year, usually on April 1, July 1, October 1 For account access via the Internet, please Affairs Department at (800) 438-2653. elected by the shareowners to oversee and December 15. The Company has paid log on to www.computershare.com/investor. They also can be accessed at their interest in the long-term health and 359 consecutive dividends, beginning Once registered, shareowners can www.thecoca‑colacompany.com. overall success of the Company and its in 1920. view account history and complete financial strength.T he Board serves as transactions online. Interested in joining the Coca‑Cola the ultimate decision-making body of the Direct Stock Purchase and Civic Action Network? Company, except for those matters reserved Dividend Reinvestment Electronic Delivery You have a stake in the success of to or shared with the shareowners. The Computershare Trust Company, N.A., If you are a shareowner of record, you have The Coca‑Cola Company and its system, Board selects and oversees members of sponsors and administers a direct stock an opportunity to help the environment and the Coca‑Cola Civic Action Network senior management, who are charged by purchase and dividend reinvestment plan for by signing up to receive your shareowner (CAN) is a powerful way to be informed, the Board with conducting the business common stock of The Coca‑Cola Company. communications, including annual reports, involved and influential. Coca‑Cola CAN is a of the Company. Our Board currently has The Computershare Investment Plan allows proxy materials, account statements and nonpartisan grassroots network of citizens 15 members, 14 of whom are not employees investors to directly purchase and sell tax forms, electronically. Register your email and businesses. Its purpose is to educate of the Company. For more information on shares of Company common stock and address at www.eTree.com/coca‑cola and stakeholders about national, state and local our Board, visit our Company website at reinvest dividends. complete the online form. As a thank you, issues affecting our industry. For example, www.governance.thecoca‑colacompany.com. the Company will have a tree planted on did you know that your favorite Coca‑Cola To request plan materials or learn more your behalf through American Forests. beverages could cost more because of new, Common Stock about the Computershare Investment Plan, special taxes that are under consideration? The Coca‑Cola Company common you may contact Computershare, the plan Corporate Offices You can learn more about issues like this stock is listed on the New York Stock administrator, through the mail, by phone The Coca‑Cola Company by joining CAN. Membership is voluntary, Exchange, traded under the ticker symbol or via the Internet—see below. One Coca‑Cola Plaza and you will never be asked to make a KO. The Company has been one of the Atlanta, Georgia 30313 financial contribution. To register, email us 30 companies in the Dow Jones Industrial Shareowner Account Assistance (404) 676-2121 at [email protected] or visit our Average since 1987. For information and maintenance on website at www.civicactionnetwork.com. your shareowner of record account, Information Resources At year end, there were approximately please contact: Internet: Our website, For more information, please visit our 2.3 billion shares outstanding and www.thecoca‑colacompany.com, offers website at www.thecoca‑colacompany.com 259,731 shareowners of record. Computershare Investor Services information about our financial performance /investors/shareowners.html. P.O. Box 43078 and news about the Company, our heritage, Dividends Providence, RI 02940-3078 brand experiences and much more. Interested in learning more about our At its February 2011 meeting, the Board of Telephone: (888) COKE-SHR (265-3747) sustainability initiatives? Directors increased our quarterly dividend or (781) 575-2879 Publications: The Company’s Annual If you are interested in learning more about 7 percent to $0.47 per share, equivalent to Hearing Impaired: (800) 490-1493 Report on Form 10-K, Proxy Statement, our sustainability strategy and progress, an annual dividend of $1.88 per share. The Fax: (781) 575-3605 Annual Review, Quarterly Reports on Form please visit the “Sustainability” section Company has increased dividends in each Email: coca‑[email protected] 10-Q and other publications covering our of our website at www.sustainability of the last 49 years. Internet: www.computershare.com sustainability policies and initiatives are .thecoca‑colacompany.com. /coca-cola. available free of charge upon request

2010 Annual Review 31 forward-looking statements, environmental statement and equal opportunity policy

Forward-Looking Statements This report may contain statements, estimates or projections that constitute discussed in our Company’s filings with the Securities and Exchange EarthColor Inc. printed this report using 100 percent “forward-looking statements” as defined under U.S. federal securities laws. Commission (SEC), including our Annual Report on Form 10-K, which renewable wind power and following sustainable Generally, the words “believe,” “expect,” “intend,” “estimate,” “anticipate,” filings are available from the SEC. You should not place undue reliance manufacturing principles, including socially “project,” “will” and similar expressions identify forward-looking statements, on forward-looking statements, which speak only as of the date they responsible procurement, lean manufacturing, which generally are not historical in nature. Forward-looking statements are are made. The Coca‑Cola Company undertakes no obligation to publicly green chemistry principles and the recycling of subject to certain risks and uncertainties that could cause actual results to update or revise any forward-looking statements. residual materials, as well as reduced volatile differ materially from The Coca‑Cola Company’s historical experience and our organic compound (VOC) inks and coatings. In present expectations or projections. These risks include, but are not limited Environmental Statement addition, carbon and VOC reduction strategies to, obesity and other health concerns; scarcity and quality of water; changes A healthy environment, locally and globally, is vital to our business and to were employed to destroy residual VOCs via in the nonalcoholic beverages business environment, including changes in the communities where we operate. We view protection of the environment bio-oxidation. Offsets were purchased where consumer preferences based on health and nutrition considerations and as a journey, not a destination. We began that journey a number of years carbon could not be eliminated to render this obesity concerns; shifting consumer tastes and needs; changes in lifestyles ago, and it continues today. Each employee of The Coca‑Cola Company report carbon-managed and climate-balanced. and competitive product and pricing pressures; impact of the global credit has responsibility for stewardship of our natural resources and must strive crisis on our liquidity and financial performance; increased competition; our to conduct business in ways that protect and preserve the environment. The environmental impact of this report was ability to expand our operations in developing and emerging markets; foreign Our employees, business partners, suppliers and consumers must all work a main consideration from the inception of the chmidt

currency exchange rate fluctuations; increases in interest rates; our ability to together to continuously find innovative ways to foster the efficient use of project, which is the result of a collaborative effort S maintain good relationships with our bottling partners; the financial condition natural resources, the prevention of waste and the sound management of The Coca‑Cola Company and its supply chain ui von of our bottling partners; increases in income tax rates or changes in income of water. Doing so not only benefits the environment, it makes good partners with the highest regard for the planet mith S tax laws; increases in indirect taxes or new indirect taxes; our ability and the business sense. and its ecosystems. Care was taken to use G ability of our bottling partners to maintain good labor relations, including the environmentally sustainable products and to

ability to renew collective bargaining agreements on satisfactory terms and Equal Opportunity Policy follow socially responsible manufacturing mages, I avoid strikes, work stoppages or labor unrest; increase in cost, disruption of The Coca‑Cola Company values all employees and the contributions they processes to ensure a minimized etty

supply or shortage of energy; increase in cost, disruption of supply or make. Consistent with this value, the Company reaffirms its long-standing environmental impact. G shortage of ingredients or packaging materials; changes in laws and commitment to equal opportunity and affirmative action in employment,

regulations relating to beverage containers and packaging, including which are integral parts of our corporate environment. The Company strives This report is printed on Mohawk Options tirton/ S container deposit, recycling, eco-tax and/or product stewardship laws to create an inclusive work environment free of discrimination and physical or PC 100, which is manufactured using 100 percent rent

or regulations; adoption of significant additional labeling or warning verbal harassment with respect to race, gender, color, national origin, religion, renewable wind energy, composed of 100 percent B requirements; unfavorable general economic conditions in the United States age, disability, sexual orientation, gender identity and/or expression, or recycled content and FSC-certified to rincipal photography: Walter p ugh,

or other major markets; unfavorable economic and political conditions in veteran status. We will make reasonable accommodations in the employment well-managed forestry standards. P international markets, including civil unrest and product boycotts; changes of qualified individuals with disabilities, for religious beliefs and whenever angley in commercial or market practices and business model within the European else appropriate. Environmental impact savings: L Union; litigation uncertainties; adverse weather conditions; our ability to 0.25 acres preserved via well-managed aniel

maintain brand image and corporate reputation, as well as other product The Company maintains equal employment opportunity functions to ensure D forestry standards; 287 trees preserved issues such as product recalls; changes in legal and regulatory environments; adherence to all laws and regulations, and to Company policy in the areas for the future changes in accounting standards and taxation requirements; our ability of equal employment opportunity and affirmative action. All managers are to achieve overall long-term goals; our ability to protect our information expected to implement and enforce the Company policy of nondiscrimination, 201 million BTUs energy not consumed

systems; additional impairment charges; our ability to successfully manage equal employment opportunity and affirmative action, as well as to prevent , Audra Melton, Michael 61,968 pounds net greenhouse Company-owned bottling operations; the impact of climate change on our acts of harassment within their assigned area of responsibility. Further, it is gases prevented ill Adler

business; global or regional catastrophic events; risks related to our acquisition part of every individual’s responsibility to maintain a work environment that over photography: of Coca‑Cola Enterprises Inc.’s North American operations; and other risks reflects the spirit of equal opportunity and prohibits harassment. 104,563 gallons water saved B c

TED US IN IN R G P

1 0 Y 0 % G R

W E esign: Methodologie IND EN D Supplied by Community Energy Additional photography:

32 the Coca-Cola Company 2020 vision goals

We see a world filled with opportunities that range from Below are our 2020 Vision goals, which will help guide us to achieve success throughout the Coca‑Cola system. doubling our system revenues by 2020, to developing new beverage products that meet consumers’ evolving People Portfolio Be a great place to work. More than double our servings to over preferences and needs, to making a positive difference 3 billion a day and be No. 1 in the NARTD in the communities in which we operate. Our 2020 Vision Partners beverage business in every market and Be the most preferred and trusted every category that is of value to us. is the roadmap for converting these long-term aspirations beverage partner. into reality. It provides business goals that outline what Planet Profit Be a global leader in sustainable we need to accomplish together with our global bottling More than double system revenues water use, packaging, energy and partners, customers and consumers in order to achieve while increasing system margins. climate protection. sustainable, measurable growth. Productivity Manage people, time and money for greatest effectiveness.

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2010 Annual Review 33 www.annualreview.thecoca‑colacompany.com