ManagementPresentation JUNE 2018

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Safe Harbor Statement

This presentation contains forward-looking statements, which express the current beliefs and expectations of management.

Such statements are based on management's current beliefs and expectations and involve a number of known and unknown

risks and uncertainties that could cause our future results, performance or achievements to differ materially from the results,

performance or achievements expressed or implied by such forward-looking statements. Important factors that could cause

or contribute to such differences are detailed in documents we file from time to time with the United States Securities and

Exchange Commission. Forward-looking statements in this presentation are made pursuant to the safe harbor provisions

contained in the Private Securities Litigation Reform Act of 1995.

These statements include descriptions regarding the Company’s plans, objectives, goals, strategies, future events, future

revenues or performance, capital expenditures, financing needs and other information that is not historical information.

These statements can be recognized by the use of words such as “may,” “might,” “will,” “should,” “expects,” “plans,”

“anticipates,” “believes,” “estimates,” “predicts,” potential” or “continue,” the negative of these terms and other comparable

terminology. Such forward-looking statements are not guarantees of future performance and involve known and unknown

risks, uncertainties and other factors, including those described under “Risk Factors” in the Company’s Form 20-F, that may

cause the Company’s actual results, performance or achievements to differ materially from those set forth in the forward-

looking statements as a result of various. factors and assumptions. The Company has no obligation and does not undertake to

revise forward-looking statements to reflect future events or circumstances.

The trademarks included herein are the property of the owners thereof and are used for reference purposes only. Such use

should not be construed as an endorsement of the products or services of SodaStream or of those other companies.

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Carbonated Beverages$350 billion

Vast Global Market

SOURCE: Statista

4

Home Sparkling Drinks Factory

Sparkling Water Makers

CO2

carbonators Flavors

Carbonating

Bottles

Carbonating

Bottles

5

Our Alternative: Multiple Consumer Benefits

6

Convenience: No more lugging heavy bottles; saves space; no empties

Our Alternative: Consumer Benefits (1)

7

Health & Wellness: Proven to help drink more water and less sugar or sweeteners

Our Alternative: Consumer Benefits (2)

8

Cost Effective: Saves up to

70% for sparkling water

Our Alternative: Consumer Benefits (3)

9

איכות הסביבהמעבר נרחב לשתייה בבקבוק רב פעמי תביא להפחתה דרמטית

צריכת בקבוקי הפלסטיק המזהמים

Our Alternative: Consumer Benefits (4)Environment: Dramatically reduce carbon footprint from plastic

production and waste

Loyal Consumer Revenue

$460

Total revenue

(10 years)

=

“Razor / Razor Blade” Business Model

Sparkling Water

Makers

$60

*Consumables revenue calculation: assuming 3 CO2 refills, 3 flavors bottles

and 2 new carbonating bottles per user per year

40*10=$400

Consumables*

+ +

Exchangeable

CO2 cylinders

Carbonation

bottlesFlavors

High-Profit “Razor / Razor Blade” Business Model

2.5M new users over last two years

Active Users In Million Households

4.5

5.56.0

8.5

9.510.0

11.0

12.5

2010 2011 2012 2013 2014 2015 2016 2017

Constant Active Users Increase

*Active users: calculated based on 3 gas refill sales in the period + 80% of

the sparkling water makers sold in the last 2nd half of the year

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Global Presence

60%23%

11%5%

Western Europe Americas Asia Pacific CEMEA

2017 Revenue by Region

SodaStream products sold in 45 countries

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80,000 + Retail Doors

Expanding Retail Presence

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Optimized Production Capabilities

2017 was great year for SodaStream…

2017 was great year for SodaStream…

And in Q1-2018 momentum continues

2015 – 2018 Revenue

($m)

+10% +17% +13% +17% +14% +10% +13% +20% +25%YoY

91.3

101.7

110.0 112.9

100.9

119.2 124.2

131.8

115.3

130.6

139.8

157.7

143.6

Q12015

Q22015

Q32015

Q42015

Q12016

Q22016

Q32016

Q42016

Q12017

Q22017

Q32017

Q42017

Q12018

9 consecutive quarters of double digit revenue growth

3.7

4.2 4.3 4.3

4.8

5.55.8

5.4

5.8

6.5 6.4 6.36.0

6.9 7.06.76.8

7.5 7.77.4

7.6

8.3 8.4 8.28.3

Q1 Q2 Q3 Q4

2012 2013 2014 2015 2016 2017 2018

Gas Refills (units M's)Constant Quarterly Records

3.7 4.5

5.4 6.2

7.9 9.2

18.6 18.8

15.9 16.8

23.0

25.7

21.3

-

5.0

10.0

15.0

20.0

25.0

30.0

Q12015

Q22015

Q32015

Q42015

Q12016

Q22016

Q32016

Q42016

Q12017

Q22017

Q32017

Q42017

Q12018

($m)

2015 – 2018 Operating Income

2015 excluding restructuring

4.0% 4.5% 4.9% 5.4% 7.9% 7.7% 14.9% 14.3% 13.8% 12.9% 16.5% 16.3% 14.8%Margin:

Operating profit margin more than tripling in three years

~4%

~15%

52.3%

50.3%

48.4%48.0%

50.7% 50.7%

51.8%52.4%

52.7%53.1%

53.5% 53.8%

55.2%

Q12015

Q22015

Q32015

Q42015

Q12016

Q22016

Q32016

Q42016

Q12017

Q22017

Q32017

Q42017

Q12018

2015 – 2018 Gross Margin

2015 excluding restructuring

+720bpsGross margin record since 2012

Expenses / Revenue

Leveraging Expense Base

48.3%

45.8%

43.5%42.5% 42.9% 43.1%

36.8%

38.1%38.9%

40.3%

37.1%

39.1%40.0%

Q12015

Q22015

Q32015

Q42015

Q12016

Q22016

Q32016

Q42016

Q12017

Q22017

Q32017

Q42017

Q12018

Free Cash Flow

0.1

14.0 14.4

11.5 13.0

22.8

30.0

16.1

31.5

12.5

31.3

19.5

13.3 13.8 14.8

12.3 10.1

8.5 9.1

6.8 4.6 4.9

2.9 4.9

7.6 6.5

-11.5

-0.8

2.1 1.5

4.6

13.7

26.1

11.6

29.3

10.8

26.3

14.3

6.8

Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018

Operating CapEx Free Cash Flow

($m)

Acquisition

21.9

*

~$0

$150M

What’s Next

Our Opportunity

SodaStream Active Household Penetration

*Active households: calculated based on 3 gas refill sales in the period +

80% of the sparkling water makers sold in the last 2nd half of the year

16.0%

12.0% 11.7%11.0% 10.9%

8.7%8.1% 7.7%

4.4% 4.3% 4.1%

1.5% 1.4%0.6% 0.5%

0.0%

Expand Household Penetration

SodaStream Active Household Penetration

*Active households: calculated based on 3 gas refill sales in the period +

80% of the sparkling water makers sold in the last 2nd half of the year

16.0%

12.0% 11.7%11.0% 10.9%

8.7%8.1% 7.7%

4.4% 4.3% 4.1%

1.5% 1.4%0.6% 0.5%

0.0%

20%

Expand Household Penetration

Continue StreamliningSparkling Water Makers Portfolio

Electric GlassBasic

Unsweetened natural flavor essence

More Flavors and Bottles

Herb and fruit infusions

Expand Consumables: More Flavors and Bottles

Dishwasher safe

bottle

Usage

opportunities

Designs

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In a Nutshell…

▪ Huge opportunity in existing geographies

▪ 2018: stay the course, continue Profitable Growth momentum

▪ 2017: best financial position ever..

▪ Fix weaker markets

▪ Expand consumables

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Our Employees

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Thank You