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Investor Presentation – November 2016 Safe Harbor Statement

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Investor Presentation – November 2016 Safe Harbor Statement Investor Presentation – November 2016 Safe Harbor Statement During this presentation management may discuss certain forward-looking statements concerning FEMSA’s future performance that should be considered as good faith estimates made by the Company. These forward-looking statements reflect management expectations and are based upon currently available data. Actual results are subject to future events and uncertainties, which could materially impact FEMSA’s actual performance. 2 Overview Ownership 48%(1) 100% 20% Coca-Cola’s largest Market leader and The world’s most franchise bottler in fastest growing retail international brewer the world by volume chain in Mexico 3 (1) Represents 63% of shares with voting rights. Leading Consumer Company in Latin America FEMSA Comercio Coca-Cola Logistics/ Retail Health Fuel FEMSA Refrigeration Division Division Division Mexico Brazil Colombia Argentina Venezuela Chile Panama Costa Rica Philippines Guatemala Nicaragua Internal company data, YTD. 4 Creating Economic Value in the Last Decade FEMSA Market Cap Evolution Financial Highlights (US$ MM) 2015 2005 (2) CAGR% Revenue(1) 311,589 78,932 15% 28,081 EBIT(1) 33,735 9,942 13% EBIT Margin 10.8% 12.6% EBITDA(1) 46,626 13,073 14% EBITDA Margin 15.0% 16.6% CAPEX(1) 18,885 3,477 18% 1 Amounts expressed in millions of Mexican Pesos 2 Figures for 2005 are the arithmetical sum of Coca Cola FEMSA and FEMSA Comercio, therefore figures exclude sold businesses. 8,643 • Consistently strengthening our competitive position. • Ability to operate in a rapidly changing economic environment. • Strong brand portfolio and exceptional operational 2005 Nov-16 capabilities. CAGR 05 – Nov 16: 11% Source: Bloomberg, as of November 23, 2016. 5 Increasing Cash to Shareholders Over Time… …while retaining strategic and financial flexibility Ordinary Dividend (Millions of Mexican Pesos) 47% CAGR 44% 8,355 26% 32% 42% 40% 7,350 6,684 6,684 6,200 34% 4,600 26% 22% 19% 24% 2,600 18% 11% 1,620 1,620 Payout 1,485 986 Ratio 660 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Net Debt / 2.0 x 1.3 x 1.1 x 1.1 x 0.7 x -0.1 x 0.0 x 0.0 x 1.2 x 1.1 x 1.2 x EBITDA Note: Dividend figures are in Mexican pesos. Payout ratio figures are the division of the dividend between previous year net majority income. 2010 net majority income 6 does not include Heineken transaction effect. 2011 and thereafter figures are under International Financial Reporting Standards (“IFRS”). An Increasingly Balanced Core Portfolio Revenue Contribution EBITDA Contribution 2005 2005 86% 64% 36% 14% 2015 2015 68% 50% 50% 32% Coca-Cola FEMSA FEMSA Comercio 7 FEMSA Comercio Overview Retail Health Fuel Division Division Division Includes drugstores Operates OXXO, the Operates the OXXO GAS and related operations largest C-store chain in chain of retail service in Mexico and the Americas by units stations in Mexico South America 9 OXXO: A Format that Fits our Consumer’s Needs • Third largest retailer in terms of Revenues in Mexico. • Benchmark for SSS and sales density in Mexico. • Best-in-class margins and returns. • We open one new store every 8 hours on average. • Every day, more than 10 million people make a purchase at an OXXO Store. 10 Largest Store Chain in the Americas by Units OXXO Stores as a Percentage of Mom & Pops in Mexico (1) 14,015 1.6% # OXXO stores in Mexico 12,812 11,683 1.4% 10,567 % mom & pops in Mexico 9,538 1.2% 8,409 7,329 1.0% 6,374 5,563 4,847 0.8% 4,141 0.6% 0.4% 0.2% 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 0.0% Number of Stores Mexico (3) The Americas (2) 14,41614,640 3,332 Others Mexico Other C-Stores 1 2 in Mexico Note: For The Americas Section: Alimentation Couche-Tard includes US, Canada and Mexico operations as of July 2016 (includes transactions subject to regulatory approvals Source: Company Information. 7-Eleven: US, Canada and Mexico Operations as of Dec 2015. Source: Company Information. Rest of the companies: Source: CS News "Top 100 US Convenience Store11 Companies”, Published July 2016. Mom & pops: Company and INEGI information. (1) OXXO stores as of December 31, 2015 in Mexico. (2) OXXO stores as of September 30, 2016 in Mexico. (3)Total OXXO stores, (includes Mexico, Colombia and Big John Chile) as of Sep 30, 2016. Horizontal Growth: Plenty of Runway Ahead 14,640 stores in Mexico and counting FEMSA Comercio has developed proprietary models to assist in identifying optimal store locations, store formats and product categories OXXO Penetration Level by Population Penetration Population / OXXO Medium <10,000 per store Moderate 10,000-30,000 per store Low >30,000 per store Nuevo Leon(1) Population: 5.1 mm OXXO Stores: 1,245 4,112 people/store 17 Distribution Centers Valley of Mexico(1) Population: 25.1 mm OXXO Stores: 2,144 11,710 people/store Note: INEGI 2015 Inter Population Consensus Survey . FEMSA information as of September 30, 2016. 12 (1) OXXO stores as of September 30, 2016. Differentiated Approach to Fill Consumer Needs THIRST LUNCH Quench your thirst immediately Satisfy your hunger with an on-the-go meal CRAVING GATHERING Satisfy your sudden craving for a Stop by for your party needs snack, a meal or drink TIME OPTIMIZATION DAILY Acquire one-stop products and services Take home your everyday grocery needs in a simple and fast way BREAKFAST REPLENISHMENT Start your day with a practical breakfast Replenish your depleted grocery and non- food products 13 Fine-tuning Strategies to Drive Same-Store Sales and Profitability Category Development Category Development Segmentation -Services -Prepared Food +1,000 services offered in the store 14 FEMSA Comercio – Health Division Mexico Aspiring to consolidate fragmented industry following OXXO game plan • FEMSA Comercio now operates more than 1,000 drugstores in Mexico, or approximately 3% of industry units • Current expected organic revenue growth of 15-20% in the Mexican operations Same Store Sales1 (Thousands of Mexican Pesos) • Oxxo´s operational and logistics expertise 635 will facilitate national expansion 609 603 590 • Standardizing business model across 2Q15 2Q16 3Q15 3Q16 different regional brands SSS Growth 7.7% 1.1% 15 1 Monthly average information per store, considering same stores with more than twelve months of operations in Mexico for FEMSA Comercio - Health Division. Note: Numbers as of September 30, 2016. FEMSA Comercio – Health Division South America Providing a solid platform for continued growth across the region • We operate approximately 680 drugstores and 160 beauty stores in Chile, as well as 180 pharmacies in Colombia • Strong brand recognition and industry leadership in Chile • Operational expertise will serve as a driver of profitability • Region presents opportunities for further international and cross-format growth 16 Note: Numbers as of September 30, 2016. A Growing Footprint FEMSA Comercio’s Health Division is gradually becoming a key drugstore operator in Latin America LatAm Comparable Players by Number of Stores 1 1 3 1 3 2 1 3 1 Health Source: Division (1) 3Q16 Company Reports. FEMSA Comercio – Health Division includes drugstores and beauty stores. (2) Company own operations in Mexico and Chile as of 31 August 2016. 17 (3) LatAm Retail Pharma Map, ILACAD World Retail, points of sale as of March, 2015. Gas Stations (OXXO GAS) FEMSA is participating in the rapid transformation of Mexico’s Fuel industry • New changes to Mexican regulatory framework now allow FEMSA to participate directly in the Energy sector, particularly through petrol stations • We concentrate mainly in the northern part of the country, but with a growing presence in 14 Mexican States Number of Stations Footprint (End of Quarter) + - 18 Note: Numbers as of September 30, 2016. Gas Stations (OXXO GAS) Same Station Volume1,2 • High-growth, low asset-intensity, high-return 501 456 467 business 425 • As of September 30, 2016 there were 348 OXXO GAS stations, representing less than 138 141 3% of a highly-fragmented industry 1Q 2Q 3Q 1Q152 1Q162 2Q15 2Q16 3Q15 3Q16 Revenue 2.4% 7.1% 7.3% (Billions of Mexican Pesos) Price per Liter3 2 1 Volume in million of liters considering same stations with more than twelve months of operations. 2 1Q15 and 1Q16 comprise the one-month period of March 2015 and 2016 respectively. 19 3 Average price per liter in Mexican Pesos. FEMSA Comercio is finding growth in adjacent formats Contribution for the First 9 Months of 2016 Revenue EBITDA 20 Note: Numbers as of September 30, 2016. FEMSA Comercio Business Evolution FEMSA Comercio EBITDA ($Millions of Pesos) and Business Evolution $16,000 $14,000 $12,000 $10,000 Surpass 1,000 openings per $8,000 year 4,000 10,000 OXXO store OXXO store $6,000 mark 5,000 OXXO store mark mark $4,000 $2,000 $- 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 CAGR(1) 23% CAGR(1) 16% 21 (1): Total Annual EBITDA CAGR. Largest Coca-Cola Franchise Bottler in the World by Volume, Operating in Attractive Regions • Strategic partner to the Coca-Cola system representing about 13% of Global Volume • 4 Billion Unit Cases (1) Colombia Mexico Venezuela (1) • +US$ 10 Billion in Revenues Guatemala Nicaragua Brazil (1) • +358 Million consumers Costa Rica Panama • Close to 2.8 Million points of sale (1) • ~ 83,000 employees Philippines Volume Mix Ownership: Argentina 47.9%(2) 28.1% 24.0% 23 (1) KOF Figures reflect FY 2015. Philippines in a proforma basis. (2) Represents 63% of shares with voting rights. Creating Economic Value During the Last Decade KOF Market Cap Evolution Financial Highlights (US$ MM) 2015 2005 CAGR% 13,264 Revenue(1) 152,360 50,198 12% EBIT(1) 22,645 8,683 10% EBIT Margin 14.9% 17.3% EBITDA(1) 31,233 11,210 11% EBITDA Margin 20.5% 22.3% CAPEX(1) 11,484 2,062 19% 1 Amounts expressed in millions of Mexican Pesos 5,066 • Consolidate as a Multi-category Leader.
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