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Agenda

CCE Driving Growth and Creating Value

Supply Chain

Europe Overview(Great Britain, France, Belgium/Netherlands/Luxembourg, Norway/Sweden)

Finance

Corporate Responsibility & Sustainability

Key Takeaways

Q&A

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Financial Priorities

CONSISTENTearnings in line with our long-term objectives

MAXIMIZEfree cash flow and maintain financial flexibility

INCREASEreturn on invested capital and drive shareowner returns

DRIVEconsistent long-term profitable growth

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Key Sources of DrivingLong-Term Growth

DELIVERON OUR LONG-TERMGROWTH TARGETS

INVESTIN HIGH RETURNOPPORTUNITIES

RETURNCASH TO SHAREOWNERS

OPTIMIZEOUR CAPITALSTRUCTURE

CONSISTENTLONG-TERM PROFITABLE GROWTHDRIVE

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Meeting or Exceeding Long-Term Targets in 2011

2011 Guidance Highlights

EPS of $2.10 to $2.15(diluted, including an expected currency benefit of ~15 cents when compared to PY pro-forma result

Revenue up mid single-digits

Operating income up mid to high single-digits

Free cash flow of $475 to $500 million

Capital expenditures of approximately $400 million

Tax rate expected in a range of 26 to 28 percent

4Notes: Guidance is comparable, revenue and operating income guidance is currency neutral

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Long-Term Growth Objectives are Robustand Benefit from OI Margin Expansion

Revenue Growth 4% 6%

Operating Income Growth 6% 8%

EPS growth High single-digits

ROIC Improvement 20 bps/yr

5Notes: Excludes non-recurring items and is currency neutral

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Deliver Long-Term ObjectivesRevenue

Long-term target for revenuegrowth of 4% to 6%

5 year CAGR of 5%(excludesNorway and Sweden acquisition)

Growth is expected to come fromour core sparkling beverages

with growth and opportunisticexpansion of still beverages

5.35.6

6.26.6 6.5

7.4

2005 2006 2007 2008 2009 2010

Revenue Growth(in billions $)

Source: CCE annual earnings release; 2010 is pro forma full year for Norway and Swedenacquisition; Norway and Sweden are excluded from CAGR calculation; rounded

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Deliver Long-Term ObjectivesCost of Goods

55%

30% 15%

Packaging,Sugar, OtherCommodities

Concentrate /Finished Goods

Manufacturing,D&A, all other

Europe COGs Mix By Spend Long-Term Objective

Maintain and opportunisticallyexpand gross margin

~85% of COGS is variable,while ~15% is fixed

Our supply chain team is focused ondriving customer service whilemanaging overall spend

7Source: CCE internal reports for bottle/can; figures are comparable and represent CCEsEuropean Operating Segment; rounded to nearest 5%

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AluminumRaw Commodities < 50% Conversion > 50%

Steel PET Can Sheet Can Making Freight

Refining Sugar Making Freight

Raw commodities comprise less than one-half of primary packagingand sugar this is less than 15% of total COGs

Deliver Long-Term ObjectivesManaging Key Inputs

Sugar Beet Sugar Cane

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http://img.diytrade.com/cdimg/510438/7679520/0/1229604804/Aluminum_Coil.jpg

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Expand operating margins withmodest SD&A leverage

Our Ownership Cost Management(OCM) approach ensures disciplinedcost management

Our flexible route to market enables our supply chain to work with customers tooptimize delivery

Deliver Long-Term ObjectivesSelling, Delivery, and Administrative (SD&A)

SD&A Mix(% of total spend)

D&A 10% D&A 10%

GeneralAdmin25%

Sales &Marketing

30%

SupplyChain35%

non-Labor 45%

Labor 45%

Long-Term Objective

9Source: CCE internal reports; figures are comparable and represent CCEs total SD&Aexpenses; rounded to nearest 5%

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Opportunity of ~$2.5B of free cash flow through 2014

Deliver Long-Term Objectives~$2.5B Opportunity Through 2014

Revenue Growth 4% - 6%

OI Growth 6% - 8%

EPS growth High single-digits

ROIC Improvement 20 bps/yr

Long-TermGrowth Targets Objectives

Drive revenue growth with volumeand price/mix

Maintain and opportunisticallyexpand gross margin

Expand operating margins

Improve free cash flow yield

10Notes: Excludes non-recurring items and is currency neutral; opportunity includes free cash flowfrom 2H11 through YE 2014; assumes LT targets are achieved through 2014; internal estimates

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Opportunity of ~$2B+ of debt capacity through 2014

Optimize Capital Structure~$2B+ Opportunity Through 2014

Capital Structure Opportunity ObjectivesLong-term target of 2.5 to 3.0xnet debt to EBITDA

Estimated year-end 2011 debtcapacity is ~$1.5B+

Incremental debt capacity

by year-end 2014 is ~$0.5B

Maintain financial flexibility

Improve ROIC

Maintain balanced debt portfoliowith favorable WACD

Disciplined capital approach

11Notes: Excludes non-recurring items and is currency neutral; opportunity includes debt capacity at~2.75x net debt to EBIDTA from YE11 through YE14; assumes LT targets are achieved through2014; internal estimates; Net Debt is total debt less cash

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Maintain Financial Flexibility

5.0x4.6x

4.3x4.0x 3.9x

3.5x 3.3x2.9x

1.6x 2 1.8x

2002 2003 2004 2005 2006 2007 2008 2009 2010 YE11est

$12.0 $11.6 $11.0 $10.0 $9.8 $9.2 $8.3 $7.7 $2.0 ~$2.5

Net Debt 1 to EBITDA(in billions)

Long-Term Target of2.5 to 3.0x

12Notes: 1. Net Debt is total debt less cash; EBITDA figures are on a comparable basis

2. Full year 2010 assumes D&A of low to mid $300 millions; new CCE pro forma

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Drive Return on Invested Capital (ROIC)Improvement

After Tax Comparable OI

Average Invested Capital

DRIVEoperating growthin-line with long-

term targets

DISCIPLINEDapproach to

capital spend

TIGHTLYmanage working

capital

Long-term Target of 20 bps or More Annual Improvement

CCEROIC

~ 13%2010 Year

End= =

13

Note: After Tax Comparable OI = Comparable OI * (1 Effective Tax Rate) = $908 * (1 ($228 / $844)) = $663, Average Invested Capital = (Begin Net Debt + End Net Debt + Begin Book Equity +End Book Equity) / 2; for 2010, only year end figures were used, ($1,965 + $1,965 + $3,143 +$3,143) / 2 = $5,108

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Balanced and Favorable Debt Portfolio

$635

$100$475

$250

$508

$525

$550

2011

12

13

1415

16

17

18

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20

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Debt at Year End 2011E(in millions) Favorable DebtPortfolio

Balanced maturity ladder

~97% fixed and ~3% floating

~60% USD and~40% Euro after swaps

Weighted averagecost of debt ~3%

14Notes: Figures include debt as of July 1, 2011 with incremental $500 million term debt from Augustissuance; CCE internal reports; rounded; excludes capital leases

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Disciplined Capital Approach Supports OurLong-Term Growth Objectives

45%

IT,Other

Capital spend is expected to be~5% of revenue

Capital spend is used to supportexpected growth (~2/3) andmaintain existing assets (~1/3)

We have a rigorous anddisciplined approach to capitalexpenditures

15%

SupplyChain

40%

Cold DrinkEquipment

Capital Mix CAPEX Highlights

15Note: CCE internal reports; rounded

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Opportunities Need to be Evaluated Against Alternatives,Including Return of Cash to Shareowners

Invest in High Return Opportunities

CONDUCT

Due Diligenceand Develop ActionPlans

IDENTIFYOpportunities

and Alternatives

EXECUTEThe CCE Way

Approach to Acquisitions

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Return Cash to ShareownersFree Cash Flow Priorities

Estimated to be

~5% of revenues

CapitalExpense

Invest in high

returnopportunities

Acquisitions

Annual dividend

increases andshare repurchaseprograms

Return Cash toShareowners

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Returning Cash to Shareowners

1986 - 2009 2010 - 2011 2012E

$2.6

$4.8$0.7+

Cash Returned to Shareowners(in billions) Planned annual dividend

increases

Planned share repurchase of $1B by end of 2011

Announced second sharerepurchase plan of another $1B

with no less than $500M in 2012

18Note: Includes dividends, share repurchase, and 2010 cash distribution from transaction; 2012figure includes planned dividend and minimum share repurchase

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Key Takeaways

Solid history of growth revenue and OI, even in recentchallenging macro economic environment

Favorable and flexible capital structure

CCE has teams and plans in place to meet or exceedlong-term objectives in 2011

Long-term objectives are attainable expected tobe a ~$4.5B+ opportunity through year-end 2014

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