FIRST QUARTER 2021 TRADING UPDATE

Good start in a challenging environment

Coca-Cola HBC AG, a growth-focused Consumer Packaged Goods business and strategic bottling partner of The Coca-Cola Company, today announces its 2021 Q1 trading update.

First quarter highlights

• Good FX-neutral revenue growth, +2.7% or +6.1% like-for-like¹, driven by Sparkling and Energy, the Emerging segment and strong execution in the at-home channel

• Growth accelerated in the Emerging segment, while the Established and Developing segments continued to be impacted by COVID-19 related restrictions extending through most of the quarter

• Volumes up +1.5% or +4.7% like-for-like¹; Sparkling and Energy together grew 10.7%. The comparative period in 2020 had 3 fewer selling days but also benefited from 2.5 months of pre-pandemic trading

• FX-neutral revenue per case +1.2% or +1.3% like-for-like¹; continued strong category mix and pricing in several markets

• Gained or maintained value share in Non-alcoholic ready-to-drink and Sparkling in the majority of markets

• Costa Coffee roll-out continues to progress well; now selling a range of formats in 16 markets

Segment highlights

• Established: Sustained positive price/mix development despite ongoing restrictions in the out‑of‑home channel

• Developing: Sugar tax implementation in Poland progressed as expected with volume recovering at the end of the quarter. Pricing taken to offset this tax had a 10.3pp impact on Developing price/mix

•  Emerging: Continued strong momentum in Nigeria and accelerated trends in Russia, with both markets growing volumes double-digit

¹Performance, unless stated otherwise, is negatively impacted by the change in classification of our Russian Juice business, Multon, from a joint operation to a joint venture, following its re-organisation in May 2020. For the Group’s growth including the performance of Multon as a joint operation in the current period, refer to the relevant table in the ‘Supplementary information’ section.

²For details on Alternative Performance Measures (‘APMs’) refer to ‘Alternative Performance Measures’ and ‘Definitions and reconciliations of APMs’ sections.