Business Outlook coca cola enterprises

Forward-Looking Statements Included in this presentation are forward-looking management comments and other statements that reflect management’s current outlook for future periods. As always, these expectations are based on currently available competitive, financial, and economic data along with our current operating plans and are subject to risks and uncertainties that could cause actual results to differ materially from the results contemplated by the forward-looking statements. The forward-looking statements in this news release should be read in conjunction with the risks and uncertainties discussed in our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K and subsequent SEC filings. 2

Agenda 120-Day Initiative North America – Restoring Growth Europe – Delivering Growth Financial Overview Summary 4

Our 120-Day Review Is Complete – We Have Accomplished The Objectives Stated In July • Accelerate and expand the scope and pace of change • Focus on supply chain, operations, price-package architecture • Put into motion essential changes required to drive long-term profitable growth in North America (NA) • Work with The Coca-Cola Company (TCCC) to improve the long-term outlook for our NA business through a continuous stream of value creating initiatives 5

Our Vision and Global Operating Framework VISION Be the Best Beverage Sales and Customer Service Company DRIVE CONSISTENT LONG-TERM PROFITABLE GROWTH • #1 or strong #2 • Most valued supplier • Winning and inclusive culture 6

Key North American 120-Day Actions New integrated supply chain initiative New price/package architecture New incidence-based economic model Reorganization of our operations Identified additional areas of opportunities 7

Outlook for 2008 and 2009 • Execute against our three strategic priorities • Deliver 2008 EPS of $1.28 - $1.31(comparable) • Deliver 2009 mid single-digit EPS growth (comparable, currency neutral) • Long-term objectives are challenging, but attainable 8

North America Outlook • Challenging economic environment • Employees committed to winning in the marketplace • Improved alignment with TCCC • Improved commodity cost outlook 10

North America Restoring Growth • Reduce, Reallocate, Recruit, and Reenergize • Revitalize sparkling beverages • Accelerate still beverage growth • Win in on-premise • Improve execution • Focus on expense control 11

North America Brand Initiatives STILL SPARKLING SPARKLING STILL Red Black Silver glacéau Sprite and Fanta PowerAde Grow Energy Water Teas & Juices Marketing Activation 12

North America Price / Package MULTI-SERVE SINGLE-SERVE Diversified can packs Package diversification • • Big bottle shrink multi-pack “Entry priced” package • • New pricing strategy Expand aluminum bottles • • in targeted locations 2 Liter contour bottle • 13

North America System Supply Chain Integration VISION An integrated supply network of people and assets in NA that is a strategic asset to the Coca-Cola System, enabling brand-building and our customer growth agenda OBJECTIVE Efficiently deliver products to the customer on time and in full 14

North America System Supply Chain Integration • Supply chain as a strategic asset • Integrated approach to common activities • Enable growth while reducing waste and inefficiency • Optimize quality, flexibility, and service 15

U.S. New Incidence-based Economic Model • More closely aligns TCCC and CCE • Simplifies economic relationship by netting funding • More aligned annual planning process • 2009 is a transition year 16

North America Key Takeaways – North America 2009 • Focused on sparkling beverage revitalization • Be the fastest growing still beverage company • Drive productivity to invest in growth and capability • Strengthened partnership with TCCC focused on volume and profit growth • Win in the marketplace 17

North America Coca-Cola North America – Strategic Goals • Revitalize and grow sparkling beverages • Lead profitable growth in still beverages • Develop best-in-class commercial and customer service capabilities • Drive productivity in everything we do 19

Europe Business Environment • Solid 2008 performance • Acknowledged view of the headwinds in Europe • Declining GDP and recessionary trends • Consumers changing spending habits • Retailers increasing focus on price/value 21

Europe Delivering Growth • Business is profitable and balanced • Significant room for growth in Europe • Clear plan for 2009 – Strengthen sparkling beverages – Grow still beverages – Drive efficiencies, leveraging our European scale • Systematic approach to transformation 22

Europe Focused on Four Portfolio Growth Strategies Accelerate Step-change Three Cola presence in momentum sports and energy drinks Build on a Increase presence winning still in water juice drink portfolio 23

Europe Key Takeaways – Europe 2009 • Build from a 2008 plan that is working in a challenging business environment • Continue to drive growth profitably • Extend presence in underdeveloped channels • Systematic approach to transformation • Invest to sustain growth while tightly managing expenses 24

Corporate Responsibility and Sustainability (CRS) Energy Water Conservation/ Stewardship Climate Change Sustainable Product Portfolio/ Packaging/ Well-Being Recycling 25

Diverse & Inclusive Culture • Most talented, skilled team in the industry • Proven ability to seize new ideas • Driving new cost management initiatives forward • Possess a driving will to win in the marketplace 26

Outlook for 2008* GROWTH RATES North America Volume decline low single-digits Price per case mid single-digits Cost per case high single-digits Europe Volume low single-digits Price per case low single-digits Cost per case low single-digits Full Year Earnings Per Share $1.28 to $1.31 28 * Excludes items impacting comparability

Commodities • YOY growth has not been in-line with historical expectations of 2% to 3% • Volatility has increased • Recent declines will be weighted to 2H09 • Continued focus on using less and recycling more 29

Debt / Liquidity • Cash flow and capital resources cover funding needs – Raised ~$500M in commercial paper in 4Q – Raised $1B in term debt in 4Q – Revolving 5 year credit facility of $2.5 billion • Year end cash balance will be ~$400M • ~$400M maturing in 1H09 30

Other Key Financial Considerations • Capital spend • Free cash flow • Foreign currency headwinds • Capital structure / share repurchase • Pension 31

Outlook for 2009* NORTH AMERICA EUROPE Growth Rates Growth Rates Revenue Revenue mid single-digits mid single-digits Cost per Case approximately 10% Cost per Case low single-digits CCE Growth Rates Revenue Growth mid single-digits EPS Growth mid single-digits Free Cash Flow > $650 million 32 * Currency neutral and excludes items impacting comparability

Long-Term Growth Objectives Operating Revenue Growth: Income Growth: 4%-5% 5%-6% ROIC Improvement: EPS Growth: ≥ 20 bps/yr High Single-Digits 33

Key Takeaways • Business environment is challenging • CCE is executing against strategic priorities • Our 120-day business review has accelerated plans to restore sustained, profitable growth and improved our alignment with TCCC • 2008 EPS of $1.28 - $1.31 (comparable) • 2009 mid single-digit EPS growth (comparable, currency neutral) • Long-term objectives challenging, but attainable 35

Business Outlook coca cola enterprises

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