2015 HIGHLIGHTS

At Group, our success is driven by our leadership position in fl avors, our great people, and our proven, consistent strategy to build our brands, execute with excellence and drive rapid continuous improvement (RCI) across the organization. In 2015, this winning combination resulted in another year of strong performance. We grew both dollar and volume share in carbonated soft drinks (CSDs) and shelf-stable juices on key brands and packages. Our brand partnerships and product tie-ins with sporting events, music and movies engaged consumers and built our brands while bringing fun and fl avor to our growing fan base. Through product and package innovation, we met consumers’ evolving tastes and needs with new products such as Snapple Straight Up Tea and on- the-go packaging options such as pouches. RCI is becoming the way we work at DPS, and our Lean tracks, which are cross-functional project teams targeting the areas of greatest opportunity for breakthrough change in our organization, helped to drive growth and productivity improvements. In addition, we rolled out visual management boards across the company, and our teams are using them to visually track their progress as they create effi ciencies and target growth in areas they control. Finally, we continued to deliver shareholder value, returning $876 million to our shareholders through dividends and share repurchases in 2015.

CURRENCY NEUTRAL FINANCIAL SNAPSHOT* ANNUALIZED TOTAL (IN MILLIONS, EXCEPT EARNINGS PER SHARE) SHAREHOLDER RETURN (THROUGH DEC. 31, 2015)

2015 • $6,397 NET SALES +5% 2014 • $6,121

DPS 25% SEGMENT 2015 • $1,629 OPERATING PEER GROUP PROFIT +8% INDEX 12% 2014 • $1,504 S&P 500 10% **CORE 2015 • $4.10 EARNINGS +12% PER SHARE 2014 • $3.65

*CURRENCY NEUTRAL FINANCIAL METRICS DETERMINED BY CONVERTING OUR CURRENT COMPOUND ANNUAL GROWTH RATE INCLUDES CHANGES PERIOD LOCAL CURRENCY FINANCIAL RESULTS USING THE PRIOR PERIOD FOREIGN CURRENCY IN STOCK PRICE SINCE DEC. 31, 2010, AND REINVESTMENT OF EXCHANGE RATES. DIVIDENDS. THE PEER GROUP INDEX COMPRISES: THE COCA-COLA **2015 CORE DILUTED EARNINGS PER SHARE EXCLUDES UNREALIZED COMMODITY-RELATED CO., PEPSICO, INC., MONSTER BEVERAGE CORP., THE COTT CORP. MARK-TO-MARKET LOSSES, A NON-CASH BRAND IMPAIRMENT CHARGE FOR GARDEN COCKTAIL AND AN ADJUSTMENT TO A PREVIOUSLY DISCLOSED LEGAL PROVISION. 2014 CORE DILUTED AND NATIONAL BEVERAGE CORP. EARNINGS PER SHARE EXCLUDES UNREALIZED COMMODITY-RELATED MARK-TO-MARKET LOSSES, SEPARATION RELATED CHARGES, AN ADJUSTMENT TO A PREVIOUSLY DISCLOSED LEGAL PROVISION AND A SETTLEMENT CHARGE RELATED TO THE PURCHASE OF ANNUITIES FOR CERTAIN PARTICIPANTS RECEIVING BENEFITS IN OUR U.S. DEFINED BENEFIT PENSION PLANS.

RETURNING CASH TO SHAREHOLDERS OVER TIME (IN MILLIONS)

$876 $717 $684* $702 $521 SHARE REPURCHASES $400 $400 $400 DIVIDENDS PAID

$317 $355 $284 $302

2012 2013 2014 2015

* DPS MADE A TAX PAYMENT OF $531 MILLION IN 2012 RELATED TO THE PEPSICO, INC. AND THE COCA-COLA CO. LICENSING AGREEMENTS.

BUILDING OUR BRANDS

OUTPERFORMED CSD CATEGORY BY

+6%SNAPPLE BRAND +2.5POINTS VOLUME VOLUME SUCCESSFUL MARKETING PROGRAMS – SUCH AS THE LONG-STANDING CAMPAIGNS SUPPORTING THE LAUNCH OF THE STRAIGHT DR PEPPER TUITION GIVEAWAY AND THE STADIUM-FAVORITE LARRY CULPEPPER UP TEA LINE AND LIMITED-TIME OFFERINGS FOR FLAVORS CAMPAIGN – DROVE CONSUMER ENGAGEMENT AND RESULTED IN DR PEPPER SUCH AS LADY LIBERTEA CONTRIBUTED TO SNAPPLE’S OUTPERFORMING THE CSD CATEGORY IN VOLUME GROWTH BY +2.5 POINTS GROWTH. SOURCE: COMPANY DATA DURING THE CAMPAIGN PERIOD. SOURCE: NIELSEN

+30% MOTT’S SINGLE-SERVE JUICE +8% UNSWEETENED SPARKLING VOLUME WATER VOLUME +9% VOLUME

MOTT’S SINGLE-SERVE SAUCE

CANADA DRY GINGER ALE MARKET SHARE IS BUBBLING OVER – UP +2.3 VOLUME +7% POINTS IN 2015 – AND REPRESENTS 56 PERCENT OF THE TOTAL GINGER ALE CATEGORY VOLUME. SOURCE: NIELSEN

MOTT’S CONTINUES TO DELIGHT MOMS AND KIDS ALIKE WITH ITS GREAT TASTE AND SNACK & GO PACKAGE OPTIONS. SOURCE: COMPANY DATA

CLAMATO WAS USED TO MIX MORE THAN +14% 165,000 PEÑAFIEL BRAND +12% VOLUME CLAMATO BRAND MICHELADAS VOLUME AT A MAJOR LEAGUE BASEBALL STADIUM.

DISTRIBUTION GAINS AND FLAVOR EXTENSIONS SUCH AS FRESADA STRONG DISTRIBUTION GAINS IN AND FLAVOR EXTENSIONS CONTRIBUTED TO PEÑAFIEL’S GROWTH. SOURCE: COMPANY DATA SUCH AS PREPARADO AND LIMÓN CONTRIBUTED TO CLAMATO’S GROWTH. SOURCE: COMPANY DATA

DRIVING EXECUTIONAL EXCELLENCE FOUNTAIN FOODSERVICE VOLUME AND DOLLAR SHARE GROWTH

QUICK-SERVICE RESTAURANT SHARE +1% VOLUME +0.2 POINTS

ADDED MORE THAN USA MEXICO

+0.4 +0.8 +1.1 POINTS VOLUME POINTS VOLUME POINTS VOLUME 42,000 SHARE OF CSDS IN LRB* TOTAL LRB* (EXCLUDING COLA) NEW FOUNTAIN VALVES +0.2 +1.0 +1.2 POINTS DOLLAR POINTS DOLLAR POINTS DOLLAR SHARE OF CSDS IN LRB* TOTAL LRB* (EXCLUDING COLA) SOURCE: CREST AND COMPANY DATA

SOURCE: 2015 NIELSEN DATA FOR ALL MEASURED CHANNELS: U.S. ALL OUTLETS COMBINED INCLUDING CONVENIENCE THROUGH JAN. 2, 2016; CANADA THROUGH DEC. 26, 2015; MEXICO THROUGH DECEMBER 2015. ALL-COMMODITY VOLUME *LIQUID REFRESHMENT BEVERAGES DISTRIBUTION GAINS

ALLIED BRANDS GROCERY

OUR ASSORTMENT OF ALLIED BRANDS CONTRIBUTED TO 4% VOLUME +0.8 +3.5 +9.4 GROWTH POINTS POINTS POINTS IN OUR NON-CARBONATED PORTFOLIO IN 2015.

SNAPPLE MOTT’S CANADA DRY PREMIUM SINGLE-SERVE AND JUICE SPARKLING WATER

WHILE REPRESENTING A SMALL PORTION OF OUR TOTAL PORTFOLIO, ALLIED BRANDS WE ALSO HELD DISTRIBUTION FOR CSDS ACROSS KEY BRANDS AND ARE BECOMING A MORE IMPORTANT PART OF OUR STRATEGY, ALLOWING US TO PACKAGES IN THE GROCERY CHANNEL AND GREW DISTRIBUTION OF PARTICIPATE IN EMERGING CATEGORIES. SOURCE: COMPANY DATA SNAPPLE PREMIUM BY +1.2 POINTS IN THE CONVENIENCE CHANNEL. SOURCE: NIELSEN RAPID CONTINUOUS IMPROVEMENT SOURCE: COMPANY DATA

29,000 50% 250,000 40% $5 MILLION GAINED DISTRIBUTION REDUCED DRIVER CHECK- ELIMINATED MORE INCREASED SALES NEARLY ELIMINATED MORE THAN AND AVAILABILITY FOR IN/OUT TIME AT DIRECT- THAN 250,000 ANNUAL 40 PERCENT FOR ENERGY $5 MILLION NON-WORKING CANADA DRY BY CLOSING STORE DELIVERY SITES BY TRANSPORTATION MILES AND WATER CATEGORIES IN MARKETING DOLLARS MORE THAN 29,000 ABOUT 50 PERCENT. BY SHIPPING DIRECT TO OUR OHIO VALLEY TEL-SELL TO BE REINVESTED BACK DISTRIBUTION VOIDS. CUSTOMERS. REGIONS. INTO CONSUMER-FACING ACTIVITIES.