The Coca-Cola Company Updates Second Quarter Expected Net Impact of Acquisitions, Divestitures and Other Structural Items Ahead of Deutsche Bank Conference Presentation

ATLANTA–(BUSINESS WIRE)–As previously announced, James Quincey, President and Chief Operating
Officer of The Coca-Cola Company, will present at the Deutsche Bank
Global Consumer Conference today at approximately 2 p.m. CET (8 a.m.
EDT).

In connection with the presentation, the Company is updating its
expectations regarding the net impact of acquisitions, divestitures and
other structural items on its second quarter results. These changes are
driven by the completion of the Coca-Cola European Partners plc
combination on May 28, 2016, approximately one month prior to previous
expectations. The Company now expects these items to be a 5 to 6 point
headwind on net revenues and a 4 to 5 point headwind on income before
taxes in the second quarter.

The Company invites investors to listen to the live audiocast of the
presentation at its website, www.coca-colacompany.com/investors.
A replay in downloadable MP3 format will also be available within 24
hours after the audiocast on the Company’s website.

About The Coca-Cola Company

The Coca-Cola Company (NYSE: KO) is the world’s largest beverage
company, refreshing consumers with more than 500 sparkling and still
brands and more than 3,800 beverage choices. Led by Coca-Cola, one of
the world’s most valuable and recognizable brands, our company’s
portfolio features 20 billion-dollar brands, 18 of which are available
in reduced-, low- or no-calorie options. Our billion-dollar brands
include Diet Coke, Coca-Cola Zero, Fanta, Sprite, Dasani, vitaminwater,
Powerade, Minute Maid, Simply, Del Valle, Georgia and Gold Peak. Through
the world’s largest beverage distribution system, we are the No. 1
provider of both sparkling and still beverages. More than 1.9 billion
servings of our beverages are enjoyed by consumers in more than 200
countries each day. With an enduring commitment to building sustainable
communities, our company is focused on initiatives that reduce our
environmental footprint, create a safe, inclusive work environment for
our associates, and enhance the economic development of the communities
where we operate. Together with our bottling partners, we rank among the
world’s top 10 private employers with more than 700,000 system
associates. For more information, visit Coca-Cola Journey at www.coca-colacompany.com,
follow us on Twitter at twitter.com/CocaColaCo,
visit our blog, Coca-Cola Unbottled, at www.cocacolablog.com
or find us on LinkedIn at www.linkedin.com/company/the-coca-colacompany.

Forward-Looking Statements

This presentation may contain statements, estimates or projections that
constitute “forward-looking statements” as defined under U.S. federal
securities laws. Generally, the words “believe,” “expect,” “intend,”
“estimate,” “anticipate,” “project,” “will” and similar expressions
identify forward-looking statements, which generally are not historical
in nature. Forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ materially from
The Coca-Cola Company’s historical experience and our present
expectations or projections. These risks include, but are not limited
to, obesity concerns; water scarcity and poor quality; evolving consumer
preferences; increased competition and capabilities in the marketplace;
product safety and quality concerns; perceived negative health
consequences of certain ingredients, such as non-nutritive sweeteners
and biotechnology-derived substances, and of other substances present in
our beverage products or packaging materials; an inability to be
successful in our innovation activities; increased demand for food
products and decreased agricultural productivity; changes in the retail
landscape or the loss of key retail or foodservice customers; an
inability to expand operations in emerging and developing markets;
fluctuations in foreign currency exchange rates; interest rate
increases; an inability to maintain good relationships with our bottling
partners; a deterioration in our bottling partners’ financial condition;
increases in income tax rates, changes in income tax laws or unfavorable
resolution of tax matters; increased or new indirect taxes in the United
States or in one or more other major markets; increased cost, disruption
of supply or shortage of energy or fuels; increased cost, disruption of
supply or shortage of ingredients, other raw materials or packaging
materials; changes in laws and regulations relating to beverage
containers and packaging; significant additional labeling or warning
requirements or limitations on the marketing or sale of our products; an
inability to protect our information systems against service
interruption, misappropriation of data or breaches of security;
unfavorable general economic conditions in the United States;
unfavorable economic and political conditions in international markets;
litigation or legal proceedings; failure to adequately protect, or
disputes relating to, trademarks, formulae and other intellectual
property rights; adverse weather conditions; climate change; damage to
our brand image and corporate reputation from negative publicity, even
if unwarranted, related to product safety or quality, human and
workplace rights, obesity or other issues; changes in, or failure to
comply with, the laws and regulations applicable to our products or our
business operations; changes in accounting standards; an inability to
achieve our overall long-term growth objectives; deterioration of global
credit market conditions; default by or failure of one or more of our
counterparty financial institutions; an inability to timely implement
our previously announced actions to reinvigorate growth, or to realize
the economic benefits we anticipate from these actions; failure to
realize a significant portion of the anticipated benefits of our
strategic relationship with Monster Beverage Corporation; an inability
to renew collective bargaining agreements on satisfactory terms, or we
or our bottling partners experience strikes, work stoppages or labor
unrest; future impairment charges; multi-employer plan withdrawal
liabilities in the future; an inability to successfully integrate and
manage our Company-owned or -controlled bottling operations; an
inability to successfully manage the possible negative consequences of
our productivity initiatives; an inability to attract or retain a highly
skilled workforce; global or regional catastrophic events; and other
risks discussed in our Company’s filings with the Securities and
Exchange Commission (SEC), including our Annual Report on Form 10-K for
the year ended December 31, 2015, and our subsequently filed Quarterly
Report on Form 10-Q, which filings are available from the SEC. You
should not place undue reliance on forward-looking statements, which
speak only as of the date they are made. The Coca-Cola Company
undertakes no obligation to publicly update or revise any
forward-looking statements.