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.

momentum in north AmericA

Diet Coke™ is No. 2 diet coke is now the no. 2 sparkling beverage brand in the united States behind our flagship brand, coca‑cola.

Important moments in our 125-year history:We introduced the first automatic soda fountain dispenser in 1933 at the chicago World’s Fair.

Moments of refreshmentWe serve coca‑cola nearly 200 million times a day in north America.

2010 Annual review 13

north America, our flagship market, is a developed market with significant opportunities for long‑term growth, driven by a large and growing population and strong disposable income.

our plans for growth start with strong brands. We are focused on accelerating expansion and share in the sparkling beverage category, led by coca‑cola, while increasing the value of our still beverage portfolio and strengthening our innovation in brands, packaging and equipment. Within the sparkling beverage category, we are engaging with teens and moms in new and exciting ways to reinforce the connection they have with our brands. And within our still beverage portfolio, we are building strong brands for today and tomorrow, such as glacéau™, Powerade™ and Simply.

We are also transforming our ability to translate the value of our brands into value for our customers. on october 2, 2010, we completed the acquisition of the north American operations of coca‑cola enterprises inc.— a move designed to help us sustainably grow volume, profit and share in line with our 2020 vision; bring to life the passion and

power of each brand in our north American portfolio; deliver significant cost and revenue synergies; operate a fully integrated, world‑class supply chain that is a global leader in quality, customer service, safety and sustainability; and further enhance a system that embodies a growth‑oriented, externally focused and customer‑driven environment.

our newly formed north American business system, consisting of coca‑cola refreshments and coca‑cola north America, will operate with distinct capabilities, responsibilities and strengths and is expected to deliver at least $350 million in annual synergies by the end of 2014.

We believe the reshaping of our north American business will help us achieve our strategy of creating capabilities that enable us to sustain and repeat our success. We are implementing best practices from our global system and developing a disciplined, proven execution approach to create a distinct competitive advantage across our business, from cutting‑edge marketing and in‑market execution to world‑class procurement, product supply and customer service.

In the next 10 years, the U.S. teen population will become the third largest in the world, after India and China. Using digital platforms, we are well-equipped to capture opportunities within this growing segment.

growing the business in north America is essential to the future of our company.

groWing our juice buSineSS

Launch of Minute Maid Kids Tropical™minute maid Kids tropical, introduced in tunisia, is fortified with vitamins and made from the juice of five fruits: orange, pineapple,apple, peach and mango.

Important moments in our 125-year history:the coca‑cola company acquired the minute maid corporation in 1960, adding a line of juice products to our portfolio.

World’s largest juice and juice drink companythe 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.

2010 Annual review 15

the juice and juice drink category is a fast‑growing and dynamic segment of nonalcoholic ready‑to‑drink (nArtd) beverages. We recognize consumers drink juice to enjoy the great taste and receive the benefits of fruit and natural nutrition. to meet their needs, we offer a range of more than 1,000 products, including juices, nectars, juice drinks and smoothies, made from a variety of fruits sourced from all over the world.

For our juice business, our strategy centers on a combination of organic growth, strategic acquisitions and innovative products and packaging. the packaging for many of our brands, such as minute maid™, del valle™, cappy™ and cepita™, shares a common look and feel, which creates a universal product experience for our consumers. through more recent acquisitions and investments in dynamic companies, such as jugos del valle, multon, nidan and innocent, and with strong organic growth in brands such as

minute maid and minute maid Pulpy, odwalla, maaza™ and Simply, we are able to offer a wide variety of options, each of which is tailored to the preferences and needs of consumers in individual markets.

our juice business depends on a variety of natural ingredients. to ensure the health of our products and longevity of our business, we are doing our part to support agricultural initiatives to reduce costs, improve ingredient quality and promote sustainable practices. one example of our agricultural advocacy is our work to eradicate huanglongbing, also known as citrus greening—one of the most destructive citrus crop diseases, which ravages the productive capacity of citrus trees. together with Sucocitrico cutrale of brazil, we have committed to donate a combined $3 million to the university of Florida Foundation to support research projects designed to protect the health of citrus groves.

We are continuing to meet the needs of consumers by growing our juice business.

In March 2010, we announced the Haiti Hope Project in partnership with the Multilateral Investment Fund of the Inter-American Development Bank (IDB), the U.S. Agency for International Development (USAID) and TechnoServe. This five-year, $9.5 million partnership creates opportunities for Haitian mango farmers and their families. The initiative seeks to double the fruit incomes of 25,000 farmers and improve local mango farming capacity, thereby promoting economic growth and sustainable development. In January 2011, Odwalla launched Haiti Hope 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.

$1 trillion industrythe nArtd beverage industry is expected to grow by 50 billion unit cases by 2020, on the way to becoming a $1 trillion industry.

Coca-Cola Zero turns fivecoca‑cola Zero’s fifth anniversary was celebrated with the launch of caffeine Free coca‑cola Zero™, which offers all the great taste of coca‑cola, with zero sugar or caffeine. the product launched in France, japan and Spain, with future launches planned for belgium, luxembourg and the netherlands.

No. 1 the coca‑cola company is the number‑one provider of sparkling beverages, juices and juice drinks, and ready‑to‑drink teas and coffees in the world.

Low- and no- calorie beveragesmore than 800 beverages—nearly 25% of our product portfolio—are low‑ or no‑calorie.

exPAnding our beverAge PortFolio

Our 14 billion dollar brands coca‑cola, diet coke, coca‑cola Zero, Sprite™, Fanta™, minute maid, Powerade, Aquarius™, dasani™, vitaminwater™, georgia™, Sokenbicha™, Simply andminute maid Pulpy

2010 Annual review 17

our company started with a single beverage, coca‑cola, which sold at a single location, jacobs’ Pharmacy in Atlanta, georgia. With the vision of fearless pioneers and creative ingenuity, we have grown into the world’s largest beverage company, with more than 500 brands and 3,500 beverage products. our portfolio includes a range of full‑, low‑ and no‑calorie sparkling beverages, juices and juice drinks, waters, sports and energy drinks, teas, coffees and dairy‑based beverages.

We offer a variety of high‑quality beverage options, but we continue to rely on the strength and steady growth of brand coca‑cola, our flagship brand, to fuel our rapidly expanding portfolio. coca‑cola is the company’s only product that sells in every market where we operate, with diet coke/coca‑cola light™

and coca‑cola Zero following close behind. the profitability of these brands, as well as our entire beverage portfolio, allows us to invest in research and development to produce a wider array of beverage options. our profitability also allows us to invest in our extensive distribution network, which enables our products to reach even the most remote areas of the world.

in 2010, we gained volume and value share globally in total nArtd beverages, driven by share gains in both sparkling and still beverages. We attribute this growth to targeted consumer marketing at the point of sale, and to our commitment to offer beverages tailored to specific markets and consumer needs around the world. this commitment is aligned with the long‑term strategy of the company to profitably grow our business in a sustainable way.

We realize the future is unpredictable, and we may experience headwinds along the way. however, we believe there is no better consumer business to be in than the nArtd business, and we remain focused on growing our company and shareowner value through 2020 and beyond.

INCreMeNTAL UNIT CASe VOLUMe MIx

• Sparkling beverages • Still beverages

TOTAL UNIT CASe VOLUMe MIx

• Sparkling beverages • Still beverages

76%

2010 24%

2000

89%

11%

2000

66%34%

2010

46%54%

Coca-Cola is a $67 billion brand.1

1 Annual retail sales (source: euromonitor international and internal estimates)

the strength of brand coca‑cola fuels our expanding portfolio.

22 million fans on Facebook™

by the end of 2010, we had nearly 22 million fans of our coca‑cola Facebook™ page and were the no. 1 most Followed and the no. 1 most influential Food/beverage Product brand on twitter™.

Olympic Games sponsor since 1928our role as an olympic games sponsor provides an ideal outlet for connecting consumers to our brands by illustrating how our products refresh athletes, volunteers, officials and spectators during the olympic games.

reaching outWith 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.

engAging With conSumerS

2010 Annual review 19

effectively marketing our products is at the core of our business success.

to us, effective marketing involves striking a balance between inspirational and operational approaches. to maximize brand love and brand value, we believe in the importance and enduring impact of powerful storytelling that engages consumers with our brands and company. consumers’ increasing use of digital technology means we must actively participate to co‑create the content and conversation of our brands. this shared approach underscores our evolving view of marketing.

global partnerships are one way we establish connections in consumers’ daily lives while promoting our brands and beverage portfolio. in 2010, our marketing campaign for the FiFA World cup™, the single‑largest sporting event in the world, was our biggest global marketing activation ever—spanning 160 countries. through a globally connected campaign leveraging paid, owned, earned and shared media, we extended our impact to billions of consumers. in addition, our sponsorship of the vancouver 2010 olympic Winter games helped raise awareness about the importance of environmental stewardship. At those olympic games, we eliminated a substantial amount of our direct greenhouse gas emissions and reduced energy use 35 percent through the use of 1,400 proprietary hFc‑free coolers. We used

hybrid vehicles to deliver products, and we sold our beverages in 100 percent recyclable Plantbottle packaging.

digital media is an increasingly powerful channel for communicating with our consumers, particularly teens. our “happiness machine” viral video, which shows hidden‑camera footage of students interacting with a coca‑cola vending machine that unexpectedly dispenses flowers, pizza and, of course, coca‑cola, has been viewed more than 3 million times and received a coveted gold clio award.

in 2010, music was a key component of our integrated marketing success. to celebrate the FiFA World cup™, we partnered with recording artist K’nAAn to produce “Wavin’ Flag—coca‑cola celebration mix,” an uplifting anthem released in more than 150 markets and sung in a dozen languages, which reached no. 1 in 17 countries. building on our music success, we worked with the band train to launch “Shake up happiness” for our 2010 holiday campaign, which we activated in more than 90 countries. the song reminded all of us how sharing a coca‑cola can inspire moments of happiness.

2010 WOrLD exPOSITION IN SHANGHAIThe Shanghai 2010 World expo, the largest event in the expo’s history, attracted more than 73 million visitors. The Happiness Factory pavilion provided The Coca-Cola Company with an unprecedented opportunity to engage consumers, media and key stakeholders. The pavilion showcased product, package and equipment innovations and provided guests with the opportunity to taste new beverages and learn about our commitment to building sustainable communities in China. Our efforts earned us the Best expo Marketing Award and Best Pavilion from China Business News.

We began our long-standing partnership with Fédération Internationale de Football Association (FIFA™) in 1974.

Leading the industryin addition to providing basic nutrition information on our products, our company made a global commitment—a beverage industry first—to provide front‑of‑package calorie/kilocalorie/kilojoule information (per serving) on nearly all of our products by the end of 2011.

Community water projectsSince 2005, we have conducted more than 300 community water partnership projects in 86 countries. external experts estimate that the equivalent of 31% of the water used in our finished beverages was replenished through the projects we conducted from 2005 through 2010.

2.5 billion PlantBottlesby the end of 2010, we had 2.5 billion Plantbottle packages in the market, and we expect to double this number in 2011. in 2010, the presence of renewable material in these packages eliminated almost 30,000 metric tons of carbon dioxide (co2), or the equivalent of approximately 60,000 barrels of oil use for our system.

doing buSineSSSuStAinAbly

Water partnershipin Zinder, niger, the coca‑cola Africa Foundation and uSAid partnered on a project to provide water access and sanitation to 14,000 people.

2010 Annual review 21

We see our commitment to sustainability as more than a responsibility. it is an opportunity for us to make a lasting, positive difference in the communities in which we operate. From purchasing our ingredients to creating and packaging our beverages, we strive to make our business more environmentally and socially beneficial. live PoSitively is our commitment to making a positive difference in the world by redesigning the way we work and live so that sustainability is incorporated into everything we do. both locally and globally, we invest in community initiatives to strengthen the communities where we live.

through our live PoSitively sustainability framework, we strive to create and maintain a sustainable

business. We do this by delivering innovative products, packaging and systems; strengthening our advanced global supply chain; enhancing our presence in communities; and managing our impact on the world’s natural resources. We recognize people want to interact with, and purchase products from, companies that share their values. by helping people achieve active, healthy lives and developing technologies that reduce materials and waste and lower carbon emissions, we are able to think holistically about sustainability and focus on driving growth in the context of bettering the world for future generations. to learn more about our sustainability efforts, download the 2009/2010 Sustainability Review at www.sustainability.thecoca-colacompany.com.

3,200 local MDCs created We have helped independent entrepreneurs create more than 3,200 local mdcs to distribute coca‑cola products in Africa, employing more than 13,500 people. Since our clinton global initiative commitment in 2009, over 50% of our new mdcs are owned and run by women.

our commitment to making a positive difference in the world.

building on our commitment to grow our micro distribution center (mdc) system, 5 by 20 is our ambitious, global initiative to empower 5 million women entrepreneurs in our system by 2020. together with civil society, governments and other private sector partners, we will provide access to financing and financial services, business and life‑skills training, and mentors and networks—all designed to help women overcome barriers to growing their businesses and incomes.

PrOJeCT NUrTUreIn Uganda and Kenya, we launched Project Nurture, a four-year, $11.5 million partnership with the Bill & Melinda Gates Foundation 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 support our growing juice business. Project implementation began in January 2010, and Minute Maid Mango Nectar, the first product to use locally sourced juice as a result of this project, was launched in fourth quarter 2010 in Kenya. To date, more than 23,000 farmers have been selected and trained.