Coca-Cola FEMSA Announces Forth Quarter and Full Year 2022 Results

Mexico City, February 23, 2023, Coca-Cola FEMSA, S.A.B. de C.V. (BMV: KOFUBL, NYSE: KOF) (“Coca-Cola FEMSA”, “KOF” or the “Company”), the largest Coca-Cola franchise bottler in the world by sales volume, announces results for the fourth quarter and full year of 2022.

FOURTH QUARTER OPERATIONAL AND FINANCIAL HIGHLIGHTS

• Consolidated volumes increased 4.6%, driven mainly by volume growth in Brazil, Mexico, Guatemala, Argentina, and Uruguay, partially offset by a slight volume decline in Colombia. On a comparable basis, volume increased 3.6%.
• Total revenues increased 14.9%, while comparable revenues increased 18.9%, driven mainly by favorable price-mix effects, coupled with volume growth. These effects were partially offset by unfavorable currency translation effects.
• Operating income increased 15.9%, while comparable operating income increased 18.0%. Our solid top-line growth, raw material hedging strategies, and operating expense efficiencies were partially offset by higher raw material costs.
• Majority net income increased 23.0%, resulting in earnings per share¹ of Ps. 0.43 (Earnings per unit were Ps. 3.40, and per ADS were Ps. 34.00).

FULL YEAR OPERATIONAL AND FINANCIAL HIGHLIGHTS

• Consolidated volumes increased 8.6% driven by volume growth across all our territories, including double-digit increases in Brazil, Colombia, Argentina, and Guatemala coupled with a solid performance in Mexico and Uruguay. On a comparable basis, excluding M&A, our volume increased 7.5%.
• Total revenues increased 16.4%, while comparable revenues increased 17.8%, driven mainly by our pricing initiatives, favorable price-mix effects, and volume growth. These factors were partially offset by a decline in beer revenues related to the transition of the beer portfolio in Brazil and unfavorable currency translation effects.
• Operating income increased 12.5%, while comparable operating income increased 11.6% driven mainly by solid top-line and operating expense efficiencies. These effects were partially offset by higher raw material costs, coupled with a tough comparison base that includes the recognition of non-recurring tax effects in Brazil during 2021.
• Majority net income increased 21.2%, resulting in earnings per share¹ of Ps. 1.13 (Earnings per unit were Ps. 9.06, and per ADS were Ps. 90.60).

¹Quarterly earnings / outstanding shares. Earnings per share (EPS) were calculated using 16,806.7 million shares outstanding. For the convenience of the reader, as a KOFUBL Unit is comprised of 8 shares (3 Series B shares and 5 Series L shares), earnings per unit are equal to EPS multiplied by 8. Each ADS represents 10 KOFUBL Units.

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Investor Relations Contact Details

Jorge Collazo

jorge.collazo@kof.com.mx

Lorena Martin

lorena.martinl@kof.com.mx

Marene Aranzabal

marene.aranzabal@kof.com.mx

José Enrique Solís

tmxjose.solis@kof.com.mx

Forward Looking Statements

All of the financial information presented in this report was prepared under International Financial Reporting Standards (IFRS).

This news release may contain forward-looking statements concerning Coca-Cola FEMSA’s future performance, which should be considered as good faith estimates by Coca-Cola FEMSA. These forward-looking statements reflect management’s expectations and are based upon currently available data. Actual results are subject to future events and uncertainties, many of which are outside Coca-Cola FEMSA’s control, which could materially impact the Company’s actual performance. References herein to “US$” are to United States dollars. This news release contains translations of certain Mexican peso amounts into U.S. dollars for the convenience of the reader. These translations should not be construed as representations that Mexican peso amounts actually represent such U.S. dollar amounts or could be converted into U.S. dollars at the rate indicated.

About the Company

Stock listing information: Mexican Stock Exchange, Ticker: KOFUBL | NYSE (ADS), Ticker: KOF | Ratio of KOFUBL to KOF = 10:1

Coca-Cola FEMSA files reports, including annual reports and other information with the U.S. Securities and Exchange Commission, or the “SEC,” and the Mexican Stock Exchange (Bolsa Mexicana de Valores, or the “BMV”) pursuant to the rules and regulations of the SEC (that apply to foreign private issuers) and of the BMV. Filings we make electronically with the SEC and the BMV are available to the public on the Internet at the SEC’s website at www.sec.gov, the BMV’s website at www.bmv.com.mx, and our website at www.coca-colafemsa.com.

Coca-Cola FEMSA, S.A.B. de C.V. is the largest Coca-Cola franchise bottler in the world by sales volume. The Company produces and distributes trademark beverages of The Coca-Cola Company, offering a wide portfolio of 131 brands to a population of more than 266 million. With over 80 thousand employees, the Company markets and sells approximately 3.5 billion unit cases through 2 million points of sale a year. Operating 49 manufacturing plants and 260 distribution centers, Coca-Cola FEMSA is committed to generating economic, social, and environmental value for all of its stakeholders across the value chain. The Company is a member of the Dow Jones Sustainability Emerging Markets Index, Dow Jones Sustainability MILA Pacific Alliance Index, FTSE4Good Emerging Index, and the Mexican Stock Exchange’s IPC and Social Responsibility and Sustainability Indices, among others. Its operations encompass franchise territories in Mexico, Brazil, Guatemala, Colombia, and Argentina, and, nationwide, in Costa Rica, Nicaragua, Panama, Uruguay, and Venezuela through its investment in KOF Venezuela. For further information, please visit www.coca-colafemsa.com.