Coca Cola Femsa S.A.B. de C.V.
Annual Report 2023

Plain-text annual report

COCA-COLA FEMSA 2023 INTEGRATED REPORT FUTURE-READY D R I V I N G G R O W T H At Coca-Cola FEMSA, we are building a future-ready organization focused on implementing a long-term sustainable growth model, with a refreshed vision of being our customers’ and partners’ preferred commercial platform and ally for growth, fostering a sustainable future. Our strategy is grounded in six strategic priorities that underscore our growth ambitions, rights-to-win in the B2B space, digital capabilities, customer-centric culture, and industry-leading sustainable business developments. Fueled by our progress across these priorities, we are not only escalating our transformation with technology, enhanced capacity, and digital capabilities across our value chain—but also driving growth. CONTENTS OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES Coca-Cola FEMSA at a Glance Letter to Our Stakeholders Financial Highlights Our Future-Ready Strategy Our Strategic Priorities Achievements in Our Strategic Priorities Our Sustainability Goals Q&A with Our CFO 4 5 11 13 14 15 16 18 22 Grow the Core Be the Preferred Commercial Platform 31 De-Bottleneck Our Infrastructure 37 Strengthen Our Customer-Centric Culture Purpose, Vision and Coca-Cola FEMSA Principles 42 43 Foster a Sustainable Future Q&A with Our Corporate Affairs and Supply Chain and Engineering Officers Water Stewardship World Without Waste Climate Action Integral Employee Well-being Community Development 48 49 62 66 71 75 89 Corporate governance Ethical system Human Rights Cybersecurity Supply chain Risk management 94 101 104 105 107 109 Financial Summary Management Discussion and Analysis Capital and Company Engagement TCFD Disclosures Report Performance in Detail SASB Content Index GRI Content Index Independent Assurance Report 114 116 120 121 125 133 135 144 COCA-COLA FEMSAAT A GLANCE OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 5 CHAIRMAN’S AND CEO’S LETTER TO STAKEHOLDERS DEAR FELLOW STAKEHOLDERS At Coca-Cola FEMSA, we have embarked on a transformative journey focused on implement- ing a long-term sustainable growth model. During 2023 we set the foundations of this model by defining and implementing six strategic priorities: i) Grow the Core, ii) Be the preferred commercial platform, iii) Strategic M&A, iv) De-bottleneck our infrastructure & digitize the enterprise, v) Strengthen our customer centric culture, and vi) Foster a sustainable future. In addition, as a reflection of Coca-Cola FEMSA’s solid talent pipeline, we achieved a seamless transition with a renewed senior leadership team, placing the right talent in key roles. Notably, we filled these key positions with internal talent that has been developed along successful careers within our company. Moreover, during the year we worked on defining a renewed Vision and setting Coca-Cola FEMSA’s Principles, which will steer our organizational culture and ways of working, as we begin its deployment across our company during 2024. We are confident that the results of 2023 show that we are on the right path. With that in mind, we would like to share with you the progress we are making across our key priorities: WE ARE CONFIDENT THAT THE RESULTS OF 2023 SHOW THAT WE ARE ON THE RIGHT PATH. JOSÉ ANTONIO FERNÁNDEZ CARBAJAL CHAIRMAN OF THE BOARD IAN CRAIG CHIEF EXECUTIVE OFFICER OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 6 Grow the Core We prioritized growing our core business by adjusting towards a long-term sustainable growth model. This model is focused on effectively responding to and driving consumer demand for our products, capturing the fair share of The Coca-Cola portfolio across all markets and channels, developing growth opportuni- ties in low per-capita markets, and achieving the full potential of profitable non-carbonated beverage categories. Our results in 2023 allowed us to gain share in most of our op- erations and achieve a turnaround in Mexico, where we reversed a long-term trend of declining market share. This achievement underscores our commitment to strengthening our presence and further growing our position in one of our key markets. Addition- ally, our operation in Argentina was honored by The Coca-Cola Company with the Candler Cup. This recognition, named after Asa Candler, founder of The Coca-Cola Company, and the person who granted the first Coca-Cola franchise, is an important award given to a bottler in recognition for its excellence in execution, coupled with its investments behind its people's development, training, and culture. These achievements also emphasize our significance within the broader Coca-Cola System. Moreover, in 2023 Coca-Cola FEMSA accounted for 44% of the total volume growth of the Coca-Cola System. Our enhanced cooperation framework with The Coca-Cola Company has been instrumental in driving growth in our core portfolio. Our cooperative efforts are more than just a strategic alignment; they represent a unified approach to pursuing profitable sustainable growth. While we are encouraged by these accomplishments, we also remain enthusiastic about the potential for further growth. As we continue to prioritize customer-centricity, we are confident in our ability to unlock more growth opportunities across our markets. Be the Preferred Commercial Platform We established solid foundations towards being the preferred commercial platform for our customers and partners by com- pletely revising the IT architecture of Juntos+, our B2B omni- channel platform. The increasing adoption of Juntos+ is evi- denced by the number of monthly active buyers: over 1.1 million, a rise of 35% compared to last year. In addition, during the year we successfully launched Juntos+ version 4.0 in Brazil. This new version of the app is fully web native and enhances customer experience, accessibility, and convenience. We also strengthened our multi-category platform during the year, focusing on having a curated portfolio to better serve our customers while increasing our ROIC. The year saw us exceed US$150 million in multi-category sales, excluding beer, surpass- ing 1% of our total sales—a milestone in our progression towards our long-term target of reaching 5% of total sales. The synergy between Juntos+ and our multi-category portfolio not only streamlines operations but also enhances the overall value we provide for our customers, further accelerating our growth as the preferred omnichannel commercial platform for our clients and partners. Strengthen our customer-centric culture Our Vision has evolved to emphasize our commitment to being not only the preferred commercial platform but also a trusted ally for our customers’ and partners’ growth. This evolution underscores our dedication to building lasting relationships and drive mutual success. Additionally, our Principles will steer our organizational culture and ways of working, nourishing behaviors essential for achieving our long-term objectives and succeed in our transformation journey. OVER 1.1 MILLION MONTHLY ACTIVE USERS IN JUNTOS+, A RISE OF 35% COMPARED TO LAST YEAR. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 7 AS PART OF OUR COMMITMENT TO FOSTER A SUSTAINABLE FUTURE, WE CONTINUED IMPROVING OUR WATER USE RATIO TO 1.42 LITERS OF WATER PER LITER OF BEVERAGE PRODUCED. Our Purpose Remains TO REFRESH THE WORLD ANYTIME, ANYWHERE Our New Vision BE OUR CUSTOMERS’ AND PARTNERS’ PREFERRED COMMERCIAL PLATFORM AND ALLY FOR GROWTH, FOSTERING A SUSTAINABLE FUTURE. → For details about Coca-Cola FEMSA Principles see page 43 From our frontline staff to our senior leadership team, we are promoting a growth mindset across our operations. Fostering a workplace that provides psychological safety helps ensure that everyone feels valued, respected, and encouraged to take an active role in our growth. We are also committed to cultivating a multiplier leadership style, guiding leaders not only to lead effec- tively but also to empower others. Foster a sustainable future As part of our commitment to foster a sustainable future, we continued improving our water use ratio to 1.42 liters of water per liter of beverage produced—an industry benchmark— and advanced in our comprehensive water strategy with replenishing actions and enhancing water access for our local communities. Additionally, we continue to emphasize the use of recycled PET in our packaging. For the year, we increased our mix of recycled resin in our bottles to 33%. Furthermore, the construction of PLA- NETA, our new food-grade PET recycling plant in Tabasco, Mexico, continues progressing towards its inauguration in 2024. With the capacity to process approximately 50,000 tons of post-consum- er PET bottles annually, the plant will significantly contribute to strengthening our collection capabilities in Mexico as we advance towards our collection and recycled content objectives. As our company grows, we want to be preferred by diverse tal- ent. In 2023, we made strides in increasing the representation of women across all levels, with female talent in leadership roles reaching 29%. Notably, this is the sixth consecutive year that our company is part of the Bloomberg Gender-Equality Index. Looking ahead, our 2030 goal is for women to comprise 40% of our leadership and management positions. Financial and Operating Highlights Our focus on driving sustainable long-term growth enabled us to deliver 7.8% year-over-year volume growth to reach 4,047.8 million unit cases—surpassing four billion unit cases for the first time in our company’s history. Our consolidated growth was driv- en by positive results across all territories and primarily fueled by strong performances in Mexico, Brazil, Colombia, and Guatema- la. Thanks to our portfolio initiatives and point-of-sale execution, we continued gaining share across key markets and categories. Our solid volumes and revenue growth management capabilities drove healthy top-line growth. For the year, total revenues in- creased by 8.1% to Ps. 245.1 billion. Operating income improved by 10.8% to Ps. 34.2 billion. Adjusted EBITDA increased by 7.9% to Ps. 46.4 billion. Controlling net income rose by 2.6% to Ps. 19.5 billion, achieving earnings per share of Ps. 1.16 and per unit of Ps. 9.30 (Ps. 92.99 per ADS). OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 8 Remarkably, our return on invest- ed capital improved for the sixth consecutive year. Furthermore, we ended the year with a net- debt-to-EBITDA ratio of 0.8 times, while our cash position was more than Ps. 31 billion. These achievements reflect our robust financial position and underscore our readi- ness for continued growth. To support these results, we in- vested a record CAPEX of $21.4 billion pesos, representing 8.7% of revenues. These investments enable us to continue adding the necessary capacity to support our growth ambitions. partners to provide immediate access to clean water and essen- tial supplies. Our robust risk management plans also enabled us to restore local production capacity, and our investment of Ps. 575 million in facility rebuilding and community support un- derscores our commitment to long-term local economic recovery and job security for our employees. What’s next? As we enter a second chapter of our journey in 2024, we expect to focus on four key priorities: i) continue building on the growth momentum of our core business, ii) take Juntos+ to the next lev- el, with the deployment of advanced AI capabilities, iii) continue developing the culture that embodies and projects our refreshed purpose, vision, and principles across our operations, and iv) foster a sustainable future. On behalf of our employees, we thank you for your continued confidence in our ability to deliver economic value and to gener- ate social and environmental well-being for all our stakeholders. Notably, the year also put our resilience and risk management protocols to the test, as our company faced a cybersecurity incident that was promptly addressed by our cybersecurity pro- tocols. The measures we took were preventive, and we did not experience any material negative impacts. Throughout the year, our IT team worked to enhance our cybersecurity risk manage- ment program according to lessons learned, underscoring our pledge to rigorous cybersecurity standards. JOSÉ ANTONIO FERNÁNDEZ CARBAJAL CHAIRMAN OF THE BOARD As important as community support is for our company, in the aftermath of Hurricane Otis, we swiftly mobilized to support the recovery of Acapulco, collaborating with local authorities and IAN CRAIG CHIEF EXECUTIVE OFFICER In memoriam The members of the Board of Directors, executives, and employees of Coca-Cola FEMSA deeply mourn the loss during 2023 of two extraordinary leaders of FEMSA who helped shape Coca-Cola FEMSA’s his- tory: Daniel Alberto Rodríguez Cofré and Othón Ruiz Montemayor. Daniel Rodríguez Cofré (1965-2023) served as FEMSA’s Chief Executive Officer from January 1, 2022 until just before his passing in August 2023. Daniel’s clarity of purpose, strategic foresight, and consistent professionalism contributed to FEMSA’s strong growth trajectory and the FEMSA Forward strategy, of which Coca-Cola FEMSA is a significant part. We offer our deepest condolences and prayers to the Rodríguez Cofré and Rodríguez Scheel families. Othón Ruiz Montemayor (1943-2023) was appointed FEMSA’s Chief Executive Officer in 1985. During his ten-year tenure, he navigated many complex decisions and, among other achievements, initiated FEMSA’s partnership with The Coca-Cola Company in 1993, accelerating the growth and globalization of Coca-Cola FEMSA. Othón was a generous and visionary leader who offered his talent, experience, creativity, and passion to his community and country for more than five decades. We offer our deepest condolences and prayers to the Ruiz Nájera family. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 9 272 million people served 2.1 million points of sale 252 distribution centers2 OUR FOOTPRINT We have the privilege to serve 272 million people through 2.1 million points of sale in 9 markets of Latin America with a wide portfolio of leading brands. 1. As of December 31, 2017, Venezuela is reported as an investment in shares, as a non-consolidated operation. 2. For purposes of this table, we have considered owned and third-party distribution centers managed by us. 56 plants CENTRAL AMERICA (Guatemala, Nicaragua, Costa Rica and Panama) 35 million people served 213K points of sale 7 plants 37 distribution centers COLOMBIA 52 million people served 480K points of sale 7 plants 23 distribution centers BRAZIL 91 million people served 487K points of sale 11 plants 49 distribution centers ARGENTINA 14 million people served 64K points of sale 2 plants 4 distribution centers MEXICO 77 million people served 884K points of sale 28 plants 136 distribution centers VENEZUELA1 URUGUAY 3 million people served 25K points of sale 1 plant 3 distribution centers TRANSACTIONS million 23,743.2  Mexico  Guatemala  CAM South  Colombia  Brazil  Argentina  Uruguay 9,729.0 1,328.5 1,287.4 2,656.5 7,523.9 974.4 243.6 TOTAL VOLUME million unit cases1 4,047.8  Mexico  Guatemala  CAM South  Colombia  Brazil  Argentina  Uruguay 2,052.9 174.2 167.7 347.6 1,075.1 178.7 51.7 1. Unit case is a unit of measurement that equals 24 eight-ounce servings of finished beverage. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 10 OUR BUSINESS SPARKLING BEVERAGES 3,045 Volume1 18,723 Transactions WATER AND BULK WATER 689 Volume1 2,212 Transactions STILL BEVERAGES 314 Volume1 2,809 Transactions 1. Volume is measured in million unit cases PRODUCT MIX BY CATEGORY 7% 6% 69% 18% Mexico Central America Colombia Brazil Argentina Uruguay 4% 1% 86% 9% 4% 76% 9% 11% 7% 1% 84% 8% 3% 76% 9% 12% 5% 79% 17% PRODUCT MIX BY SIZE PRODUCT MIX BY PACKAGE Mexico Central America Colombia Brazil Argentina Uruguay 69% 31% 62% 38% Mexico 61% 39% 64% 36% Central America 70% 30% 74% 26% 76% 24% 80% 20% 81% 19% Colombia Brazil Argentina Uruguay 82% 18% 79% 21% 80% 20% ■ Sparkling ■ Still ■ Water2 ■ Bulk water3 ■ Multi-serve ■ Single-serve ■ Non-Returnable ■ Returnable 2. Excludes still bottled water in presentations of 5.0 Lt. or larger. Includes flavored water. 3. Bulk water - still water in presentations of 5.0 Lt. or larger. Includes flavored water. JUNTOS+: OUR B2B COMMERCIAL PLATFORM Building upon the outstanding personal customer experience our clients enjoy, Juntos+, our B2B commercial platform, provides an omnichannel experience to 1.1 million of our traditional trade clients that want to interact with us and place orders anytime, anywhere. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 1 1 FINANCIAL HIGHLIGHTS 2023 USD1 2023 MXN 2022 MXN % CHANGE Sales Volume (million unit cases) 4,047.8 4,047.8 3,755.2 14,502 245,088 226,740 2,023 34,180 30,838 10.8% 7.8% 8.1% Total Revenues Operating Income Controlling Interest Net Income 1,156 19,536 19,034 2.6% Total Assets 16,185 273,520 277,995 -1.6% Long-term bank loans and notes payable 3,851 65,074 70,146 -7.2% Controlling Interest Capital Expenditures Earnings Per Share2 7,516 127,025 125,384 1,266 21,396 19,665 0.07 1.16 1.13 1.3% 8.8% 2.6% 8 4 0 , 4 5 5 7 , 3 8 5 4 , 3 4 8 2 , 3 +7.8% vs. 2022 1 . 5 4 2 7 . 6 2 2 8 . 4 9 1 6 . 3 8 1 +8.1% vs. 2022 2020 2021 2022 2023 SALES VOLUME million unit cases 1 1. Unit case is a unit of measurement that equals 24 eight-ounce servings of finished beverage. 2 . 4 3 8 . 0 3 4 . 7 2 2 . 5 2 +10.8% vs. 2022 2020 2021 2022 2023 TOTAL REVENUES billion Mexican Ps. 0 8 . 5 3 4 . 5 4 0 . 5 6 8 . 4 +6.8% vs. 2022 Millions of Mexican pesos and U.S. dollars as of December 31, 2023 (except volume and per share data). Results under International Financial Reporting Standards. 1. U.S. dollar figures are converted from Mexican pesos using the exchange rate for Mexican pesos published by the U.S. Federal Reserve Board on December 31, 2023, which exchange rate was 16.8998 to U.S.$1.00. 2. Based on 16,806.7 million outstanding ordinary shares as of December 31, 2023 and 2022. 2020 2021 2022 2023 OPERATING INCOME billion Mexican Ps. 2020 2021 2022 2023 DIVIDEND PER SHARE Mexican Ps. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 12 OUR VALUE CHAIN Manufacturing Enabled by our Digital Manufacturing Platform 2.0, we produce high-quality beverages in our facilities, with efficient use of water and energy. Distribution Center In our digital warehouse process, we integrate pre-sale with secondary distribution processes. Secondary Distribution Once a pre-sale order is placed, we use our Digital Distribution Platform to define an optimal Route- To-Market. Consumption We serve more than 272 million people, offering a portfolio with choices for every lifestyle. 2 4 6 8 1 Ingredients We work with our suppliers to obtain the best raw materials. 3 5 7 9 Primary Distribution From our manufacturing facilities, we ship beverages to our 252 distribution centers. Pre-Sale Powered by digital platforms, we serve our clients in traditional and modern channels, offering a winning portfolio of leading brands. Points of Sale We reach more than 2.1 million points of sale with targeted commercial initiatives, and we use Market Analytics to maximize the value proposition for each client. Recycling We encourage and help consumers to properly dispose and recycle packages used in our beverages. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 13 OUR FUTURE-READY STRATEGY OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 14 FUTURE-READY STRATEGY We have defined a set of very clear priorities to chart our next growth chapter, leveraging our rights-to-win and channeling our positive momentum: Grow the core De-bottleneck our infrastructure & digitize the enterprise GROWTH Be the preferred commercial platform STRATEGIC PRIORITIES Strengthen our customer centric culture ENABLERS Strategic M&A Foster a sustainable future OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 15 ACHIEVEMENTS IN OUR STRATEGIC PRIORITIES IN 2023 Grow the Core. Capturing the fair share of Coca-Cola trademark in all markets and channels; accelerating the growth of Coca-Cola Zero Sugar; developing growth opportunities in low per-capita markets; and achieving the full potential of profitable non-carbonated beverage categories. Become our customer’s preferred omnichannel commercial platform. Growing our total and digital client base across our markets and enhancing our value proposition by leveraging a curated portfolio of our customer’s and consumer’s favorite brands together with The Coca-Cola Company and our multi-category partners. • +4 billion-unit cases sold, a record for the company • Gained share in most of our operations and achieved a turnaround in Mexico • 15% annual increase in Coca-Cola Zero Sugar volumes • Double-digit growth in Energy and Sports Drinks • 1.1 million monthly active users in Juntos+ • US$2.4 billion in digital sales recorded • 32% of total orders are digital De-bottleneck our infrastructure and digitize the enterprise. Unlock growth by increasing manufacturing and distribution capacity and implementing best-in-class logistics and distribution enablers. We will continue digitizing our company, including the migration of our legacy ERP System into cloud-based platform-as-a-service. • US$1.2 billion in annual CAPEX, a record for the company. • 5 new lines and upgrades installed • 99,100 additional pallet positions • +11% warehouse capacity vs. 2022 Strengthen our customer-centric culture. Promoting a growth mindset, building a multiplier leadership style, and empowering leaders to develop our people. • Defined Coca-Cola FEMSA's principles • Updated our vision focusing on our consumers, customers, and growth Strategic mergers and acquisitions. Leveraging our disciplined approach, we will focus on value-enhancing, synergistic acquisitions as a priority while strengthening our commercial platform capabilities. • We continue actively seeking value- enhancing inorganic opportunities Foster a Sustainable Future. Reinforcing our industry-leading environmental initiatives and bolstering our social programs, including community development and diversity and inclusion, with a strong governance framework. • 1.42 liters of water per liter of beverage produced • 77% of electricity from renewable sources • 29% of women in leadership positions • 33% recycled resin in our packaging • 84% bottling plants certified as zero waste OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 16 OUR SUSTAINABILITY GOALS Topic Water Key Performance Indicator Water Use Ratio (water used per liter of beverage produced)1 Replenish water used in production, focus on medium and high stress sites World Without Waste Collect the PET bottles we place in the market Recycled resin in our packaging Returnable/refillable bottles from total volume Distribution centers certified as zero waste Bottling plants certified as zero waste2 Absolute Scope 1 and 2 GHG emissions reduction Climate Action Absolute Scope 3 GHG emissions reduction4 Electricity from renewable resources Human Rights, DEI Women in leadership and management positions Integral Employee Well-being, Health and Safety Fatalities3 Lost Time Incident Rate – LTIR3 Total Incident Rate – TIR3 Serious incidents reduction3, 5 High potential serious incidents reduction3, 5 Crash Rate3 Major Crash Rate3 Community Development Priority plants implementing community engagement plans using the MARRCO methodology All are 2030 goal, except for: 1. 2024 - intermediate goal / WUR of 1.26 by 2026 2. 2025 Goal 3. 2027 Goal 4. Purchased goods and services and upstream transportation and distribution 5. 2022 Baseline 2023 1.42 +100% 31% 33% 32% 1% 84% 29% 19% 77% 29% 8 0.88 1.60 14% 53% 7.25 0.45 4 Goal 1.36 100% 100% 50% 25% 100% 100% 50% 20% 100% 40% 0 0.4 0.8 75% 40% 6.5 0.5 19 1.42 84% liters of water per liter of beverage produced, an industry benchmark of our bottling plants facilities have earned Zero Waste certification 359 thousand beneficiaries of activities focused on our environmental and social pillars 19% 29% women in leadership positions 77% reduction of absolute GHG emissions from Scope 3 vs. 2015 base line electricity from renewable resources OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 17 PIONEERING SUSTAINABLE FINANCING DELIVERING AGAINST OUR SUSTAINABLE FINANCING GOALS Demonstrating financial and sustainability discipline, our ongoing reporting commitment ensures transparency and impact assessment, setting a benchmark for corporate stewardship. Our approach to sustainable financing aligns our fi- nancial strategy with environmental and social goals, amplifying positive impact and contributing to the UN Sustainable Development Goals. While eligible projects under our sustainable financing strategy are focused on a variety of solutions, they share the common objective of advancing our company’s mission to simultaneously create economic, environmental, and social value while generating well-being across our value chain. Green Bond: Leading the Charge in Latin America In 2020, we set a milestone with our Green Bond, valued at US$705 million—then the largest for a Latin American corporation and a first for the Coca-Cola Sys- tem. As of 2023, 100% of the net proceeds have been allocated to eligible projects according to our →Green Bond Framework. The net proceeds drive progress toward our sustainability goals, including increased recycled content in PET packaging, improved water ef- ficiency, and reduced CO2e emissions. Our commitment to 100% renewable energy by 2030 saw a significant increase, rising from 66% in 2022 to 77% in 2023. Sustainability-Linked Bond: Charting a Water- Efficient Future In 2021, we pioneered Sustainability-Linked Bonds (SLB) in the Mexican market, committing Ps. 9,400 mil- lion to water stewardship. Recognizing that water is not only an invaluable resource for our company and indus- try but also an indispensable element of climate change resilience, our SLB is committed to the achievement of a water use ratio of 1.26 by 2026, in accordance with our →Sustainability-Linked Bonds Framework. Current- ly at 1.42 liters, our use water ratio is a benchmark of efficiency, with specific plants within Coca-Cola FEMSA leading the way in the Coca-Cola System. GREEN BOND 4 7 . 4 1 3 100% of the Green bond proceeds allocated 4 6 . 4 1 1 1 0 . 1 4 7 2 . 8 7 7 2 . 3 8 5 9 . 3 7 2018 2019 2020 2021 2022 2023 SPEND BY YEAR US$ million ALLOCATION DETAIL BY ELEGIBLE CATEGORY Circular Economy Water Stewardship 69% 5% Climate Action 26% % 4 2 2019 % 1 3 % 9 2 % 3 3 % 7 2 2 5 . 1 9 4 . 1 7 4 . 1 6 4 . 1 2 4 . 1 % 7 7 % 6 6 2022 2020 2021 RECYCLED CONTENT 2023 2019 2023 2022 2020 2021 WATER EFFICIENCY Liters of water per liter of beverage produced 2022 2023 RENEWABLE ENERGY IN MANUFACTURING Social and Sustainability Bonds: A Milestone in Corporate Responsibility Breaking new ground, in 2022 we issued in the Mexican market Ps. 6,000 million in Social and Sustainability Bonds—becoming the first company in the Coca-Co- la System to do so. These bonds will be used to finance eligible projects in ac- cordance with our →Sustainability Bonds Framework, empowering social and economic development by supporting underrepresented groups, offering entre- preneurial skills, providing financial solutions to store owners, and investing in sustainable community development, including water replenishment and access projects. In 2023, 100% of the sustainability bond proceeds was allocated (Ps. 500 million), and Ps. 224.68 million of the social bond were allocated: 75% for microcredits, 5% in human resources, and 20% for social license. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 18 INTERVIEW WITH OUR CFO GERARDO CRUZ CELAYA CHIEF FINANCIAL OFFICER 1. Gerardo, could you provide an overview of how our Grow the Core strategic priority bolstered our market position in 2023? market— especially in more affordable, larger presentations. This approach has begun to yield positive shifts in market share. Our resolve to grow our core business drove encouraging results in 2023. We achieved a remarkable volume growth of 7.8% compared to last year, crossing the threshold of 4 bil- lion-unit cases sold during a year—a milestone for our company— and registered record levels of volume growth in some of our most relevant markets such as Mexico, Brazil, Colombia and Guatemala. These results not only underscore our strategic success but also reinforce our leadership across our regions. Our achievements stem from focused efforts to not only regain market share but also to boost per capita consumption, thereby capturing the fair share of the Coca-Cola trademark across all markets and channels. For instance, by prioritizing sustainable volume growth, we have adapted to intensified com- petition, particularly in Mexico —our largest Moreover, we are capitalizing on opportunities to enhance per capita consumption across our territories, deploying and strengthening our integrated consumer-centric winning portfolio designed to meet diverse needs and trends. Key to this approach is our goal to grow Coca-Cola Zero Sugar and reach the full potential of non- carbonated beverages, which registered 15% and 6% growth in volumes compared to last year, respectively. A pivotal element to boost our Grow the Core strategic pillar has been our Juntos+ B2B digital platform, which now serves 1.1 million recurring customers in the traditional trade, an increase of 35% from last year. Juntos+ has sig- nificantly catalyzed our achievements by driving digital sales growth, which now represent 15% of our total sales, doubling the percentage from last year. OUR ENHANCED COOPERATION FRAMEWORK WITH THE COCA-COLA COMPANY WAS INSTRUMENTAL IN DRIVING GROWTH IN OUR CORE PORTFOLIO IN 2023. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 19 2. Could you elaborate on the advantages Coca-Cola FEMSA has gained from its accelerated digitalization strategy, given its strategic importance? Before diving into the details of our digitalization strategy, I would like to offer some perspective. We have the largest cus- tomer base in LATAM's traditional trade, serving over 2 million customers and visiting them on average 1.8 times per week. Our goal is to build upon the exceptional personal interactions and strong relationships that our clients value, bridging the gap between face-to-face and digital interactions to offer an omnichannel commercial platform. By developing this com- prehensive commercial ecosystem, we aim to better serve our clients, address their pain points, expand our product offer- ings, create value, and enhance the overall customer experi- ence and engagement. This digitalization effort can deliver a significant contribution to the improvement of our top-line quality from both direct and indirect data monetization, as we are currently witnessing. Take customer and consumer insights, for example. We have been gaining access to more granular customer data, which can be leveraged to better understand consumer preferences and behaviors. This enables the development of more per- sonalized product offerings. Such initiatives not only improve customer satisfaction but can also lead to suggested orders, cross-selling opportunities, mix improvements, a higher aver- age ticket, and increased overall sales. Furthermore, the data we gather, combined with the potential of big data analytics, provides insights that can inform strategic decisions, product development, marketing, and affordability initiatives. As we continue to develop our digital platform, also strength- en the digitalization of supply chain, thereby enhancing our company's agility and bottom line. Digitalization leads to im- proved supply chain management. By digitizing our processes, we aim to optimize inventory management, cut down waste, and reduce stockouts, leading to cost savings and allowing us to anticipate demand more accurately. Furthermore, the implementation of digital solutions not only optimizes route planning for deliveries but also ensures more efficient distri- bution to our more than 2 million customers. We are lever- aging technology to implement dynamic routes, making the distribution process as efficient as possible. These initiatives not only translate into improved customer satisfaction but also reduce transportation costs and the carbon footprint of our distribution process. Beyond market insights and an improved supply chain, our robust digital infrastructure is providing the agility and resilience essential for navigating challenges, including those posed by Hurricane Otis and the COVID-19 pandemic. This capacity for quick adaptability has been crucial in main- taining our competitive edge, enabling rapid response to changing conditions and ensuring uninterrupted operations. US$80 MILLION IN SAVINGS FROM OUR EFFICIENCY PROGRAM IMPLEMENTED IN 2023. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 2 0 3. In light of the cybersecurity attack we experienced in 2023, could you discuss the key lessons learned and how we are bolstering our cybersecurity framework amidst our digital expansion? In response to the cybersecurity incident, timely identification was crucial for us. We immediately took action to mitigate its impact. The proactive role of our team was essential in minimizing oper- ational disruption, and although we were not materially affected, we acknowledge that cybersecu- rity presents an ongoing challenge that requires continuous monitoring and the implementation of robust security practices. Like all challenges, this incident helped us identify vulnerabilities which gave us important learn- ings for the future. We are stepping up investment in strengthening our systems and infrastructure, training our employees, reinforcing our cybersecurity team, and proactively adopting new mea- sures to safeguard the integrity of our operations. 4. Could you elaborate on the return on invested capital at Coca-Cola FEMSA and outline what shareholders can anticipate going forward from our strategy? First, I want to emphasize that our strategy going forward remains firmly rooted in financial disci- pline. We are dedicated to sustaining robust cash flow generation and adhering to a diligent capital allocation framework. Our focus extends to managing operational risks through meticulous cur- rency and commodity hedging strategies. This approach reflects our ongoing resolve to maintain the financial health and profitability of our business, ensuring we remain well-positioned to seize organic and inorganic growth opportunities and navigate market challenges, thereby laying a solid foundation for continuous sustainable growth and value creation for our shareholders. CAPEX TO SALES RATIO INCREASED TO 8.7% TO FUEL OUR DIGITALIZATION EFFORTS AND FULFILL UNSERVED DEMAND, LAYING THE FOUNDATION FOR SUSTAINABLE GROWTH. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 2 1 WE HAVE MADE SIGNIFICANT STRIDES IN EMBEDDING A GROWTH CULTURE THAT REFLECTS THE COMPANY’S ASPIRATIONS. Turning to ROIC, this is a key metric that reflects our effec- tiveness in using capital to foster sustainable growth and maximize shareholder value. Over the past six years, we have achieved a consistent annual increase in our ROIC, thanks to a multifaceted strategy that includes: • Improving the Quality of Top-line Growth: We have ex- panded our customer base, increased the average transac- tion size, and focused on more profitable SKUs, alongside implementing effective revenue management strategies and improving our market share. • Cost Reduction and Efficiency Gains: Through optimizing our supply chain and distribution processes and imple- menting hedging strategies, we have enhanced our effi- ciency, even amid external cost pressures. • Strong Balance Sheet: By efficiently managing our assets, optimizing inventory levels, and maintaining a disciplined approach to our capital structure we have fortified our financial foundation. As I mentioned earlier, looking ahead we are committed to continue looking for opportunities to optimize our cost and expense structure and investing in innovation and digitaliza- tion to improve our efficiency. 5. Lastly, what are the highlights of your first year as Coca-Cola FEMSA’s CFO? In my first year as CFO of Coca-Cola FEMSA, the standout highlight has been the synergy created among the renewed senior leadership team, which has set a solid foundation for our collective efforts towards achieving the company’s ambitious growth goals. This collaboration has been crucial for steering our growth trajectory and pivotal in aligning all teams, across our cor- porate functions and operating countries, with Coca-Cola FEMSA’s long-term vision. This has involved not only leading together with commitment but also facing and navigating through challenges together, which has reinforced our company’s resilience and determination. As we continue implementing a sustainable growth model, our collective vision remains clear and driv- en by the desire to enhance shareholder value, and contribute positively to the communities in which we operate. SIXTH CONSECUTIVE YEAR OF IMPROVED RETURN ON INVESTED CAPITAL. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 22 GROW Our grow the core strategic priority is driven by the implementation of a sustainable growth model aiming to continue increasing the share position of The Coca-Cola portfolio, accelerate the growth of Coca-Cola Zero Sugar across our territories, develop growth opportunities in low-per capita markets, and achieve the full potential of our profitable non- carbonated beverage categories. THE CORE OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 23 WE SEE MORE RUNWAY TO GROW OUR CORE BUSINESS We enjoy a solid position in an industry with consistent growth. Moreover, we continue to see vast opportunities to satisfy the evolving beverage daily needs from our customers and consumers, resulting in more runway to grow our core business. Harnessing Every Lever to Grow Our Core Business From our winning portfolio, unparalleled distribution network, and point- of-sale execution, our digital omnichannel commercial platform, we are using every lever to ensure we capture the fair share of the Coca-Cola portfolio, accelerate the growth of Coca-Cola Zero Sugar, develop growth opportunities in low-per capita markets, and achieve the full potential of our profitable non-carbonated beverage categories. At the heart of our strategy is an obsessive focus on our consumers and customers that guides every decision we make. For our consum- ers, our strategy aims to continuously align our portfolio with evolv- ing preferences, to not only satisfy current demands but also antici- pate future trends. Our commitment spans innovation, affordability, and enhancing our product mix to suit diverse tastes and needs, catering to every occasion. Similarly, for our customers, we are dedicated to expanding our value proposition and continuously enhancing their experience with us. Our goal extends beyond meeting expectations to exceeding them, offering unpar- alleled service and generating value to our clients through a one-stop shop solution with a curated portfolio. The close relationship we have developed with our customers over the years is a key driver in achieving growth in per capita consumption and market share. Currently, we serve more than 2.1 million customers across our territories, the largest distribution network in Latin America, and we visit them on average 1.8 times a week. Our un- matched distribution network gives us an edge, particularly in the tradi- tional trade that undergirds Latin America’s commercial model. Achieving Record Results In 2023, we achieved record levels of more than 4 billion-unit cases sold, a 7.8% increase from last year, driven by volume growth across all of our territories, with an outstanding volume growth in Mexico, Brazil, Colombia and Guatemala. ENHANCED COOPERATION FRAMEWORK HELPS BOOST GROWTH Our enhanced cooperation framework with The Coca-Cola Company has been instrumental in driving growth in our core portfolio in 2023. By capitalizing on our combined strengths and shared vision, we continue to execute significant strategic investments in the market that bolster our ambitious growth plans. Our cooperative efforts are more than just a strategic alignment; they represent a unified approach to innovatively responding to market demands and shaping the future of our industry with a clear focus on pursuing profitable sustainable growth. In Mexico, our strategies allowed us to regain share in a highly competitive landscape within the Colas category. This achievement underscores our commitment to strengthen our presence and further grow our position in one of our key markets. Our operations in Colombia and Guatemala also demonstrated remarkable growth, setting new record level volumes for the second and sixth consecutive years, respectively. Additionally, as a testament to our relentless efforts, our operations in Argentina were honored by The Coca-Cola Company with the prestigious Candler Cup. This award not only highlights our operational excellence but also recognizes our investments in the development of our unique culture. In Brazil, we also had a solid result, surpassing the mark of one billion-unit cases produced for the first time. Furthermore, we achieved volume re- cords in Non-Alcoholic ready to drink category and achieved record share in five categories, including Carbonated soft drinks, Teas, Energy, Sport Drinks and Plant-based beverages. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 24 ACCELERATING THE GROWTH OF COCA-COLA ZERO SUGAR In actively expanding our portfolio of zero- and low-sugar sparkling beverages, we are simultaneously responding to and driving consumer demand for our products. This strategic approach not only caters to evolving tastes but also underscores our commitment to meeting diverse consumer needs while fostering sustainable growth. Impressively, our Coca-Cola Zero-Sugar volumes have surged almost 60% beyond our 2019 base- line, demonstrating our ability to adapt our offerings in line with consumer preferences toward low-calorie options. BOLSTERING THE SUCCESS OF COCA-COLA ZERO SUGAR Coca-Cola Zero Sugar continues to offer consumers a sugar- and calorie-free alterna- tive for one of the world’s most beloved brands. The new formula and visual identity of Coca-Cola Zero Sugar continued to outperform the sparkling beverage category across our territories, growing 15.0% of volumes year over year. To drive this growth, we are continuously leveraging a consistent value proposition and enhancing point-of-sale execution through initiatives in sampling, innovation, and customer experience. In Brazil, Coca-Cola Zero Sugar has emerged as the preferred choice among consumers, achieving 91 million-unit cases, a 28.4% annual growth. In Mexico, Coca-Cola Zero Sugar achieved 9.1% volume growth year over year. Argentina, Uruguay, and Costa Rica have the largest mix of Coca-Cola Zero Sugar in their sparkling beverage portfolio, with the mix continuing to grow in 2023, setting the benchmark for the company. ZERO SUGAR GROWTH BEYOND COCA-COLA Building on the success of Coca-Cola Zero Sugar, we are dynamically driving growth across the no- and low-sug- ar flavored sparkling beverages portfolio. This growth trajectory is marked by strategic initiatives such as the relaunch of Sprite Lime SOS, the acceleration of Sprite Fenix in Argentina, the launch of Schweppes Toronja Zero Sugar in Uruguay, and the introduction of Sprite and Fanta Zero Sugar in movie theater vending machines. Uruguay single handedly represents our benchmark on Coca-Cola Zero Sugar mix with 30.7%. These targeted product launches and relaunches cater to evolving consum- er preferences toward low-calorie options, aligning with regional tastes and trends. A testament to the success of this strategy is evident in Colombia, where the no- and low-sugar flavored sparkling beverages portfolio regis- tered volume growth of 6.8% versus the previous year. COCA-COLA CREATIONS: ENHANCING CONSUMER ENGAGEMENT During the year, we introduced limited edition, sequential releases from Coca-Cola Creations, The Coca-Cola Company’s innovation platform, across key markets to enhance consumer engagement. These exciting new creations— featuring a collaboration with Spanish popstar Rosalía for a Limited-Edition Coca-Cola—enabled us to launch creative new products and experiences successfully across physical and digital worlds. In Brazil, we harness the power of our innovation platform to captivate our Gen Z consumers through Coca-Cola Ultimate XP, an exclusive part- nership with the popular online game League of Legends. This initiative blends the iconic Coca-Cola experience with the dynamic world of gaming, creating a memorable experience. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 2 5 MEXICO: DRIVING PROFITABLE SINGLE-SERVE MIX WITH MULTIPACKS Our popular portfolio of multipacks facilitates better interaction with our consumers in Mexico while also growing our profitable single-serve mix, transactions, and revenues across the modern trade channel. For the year, our multipacks volume in Mexico grew double-digits across channels, with approximately 85% of the incremental volume through the modern channel. Our successful strategy with multipacks in Mexico allowed us to reach a single serve mix in multipacks of 75%, becoming a very profitable strategy. In 2023, we focused on streamlining our multipack portfolio and refining its pricing architecture, aiming to enhance our market posi- tioning and better meet consumer needs. Our multipack portfolio in Mexico's modern trade channel offers popular brands like Coca-Cola, Coca-Cola Zero Sugar, Sprite, Mundet, Fanta, Ciel, Seagram’s, and Monster. Furthermore, we meticulously tailor our 6, 8, and 12-pack offerings to meet the diverse needs of our customers and consumers— from wholesalers to supermarkets and price clubs. ACCELERATING SINGLE SERVE We are actively driving growth in our profitable sin- gle-serve mix. Our strategy involves leveraging the popularity of multipacks, widening cooler availability, and deploying tailored strategies across our territo- ries. This approach not only resonates with customer preferences but also has been instrumental in boost- ing our volumes in both sparkling and still beverages, particularly in our zero- and low-sugar portfolio. Our strategy to enhance single serve has shown signif- icant results. Overall, in 2023 we reached a sin- gle-serve mix of 31.1%, exceeding our 2019 baseline by more than 100 basis points. ARGENTINA, CENTRAL AMERICA, COLOMBIA AND URUGUAY: RAPID COOLER ROLLOUT Our focus on relentless point-of-sale exe- cution drove us to install over 66,000 new coolers in record time across our operations in 2023. This investment reinforces our con- tinued commitment to enhancing customer experience and product accessibility. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 26 LEVERAGING AFFORDABILITY TO DRIVE SUSTAINABLE GROWTH Affordability is an important driver of our sustainable growth strategy. We continue to execute to win in the “away from home” and “at home” consumption occasions with strategic market initiatives that enable us to provide our consumers with unmatched affordability. This approach not only responds to our consumers' changing needs and preferences but also aligns with our commitment to environmental sustainability. UNIVERSAL BOTTLE GROWTH BOLSTERS AFFORDABILITY STRATEGY The successful rollout of our refillable universal bottle has led to an in- crease in our returnable volume. The universal refillable bottle provides consumers with savings making our products more accessible. Envi- ronmentally, the returnable bottle could reduce single-use packaging waste and helps ensure high levels of collection of beverage containers. This approach aligns with our goals of fostering a sustainable future and meets consumer demand for greener packaging solutions. This refillable universal bottle has been instrumental in driving share of sales gains in the territories where it has been introduced, mark- ing a significant success in our market strategy. The versatility of this packaging innovation has not only streamlined our operations but also enhances our competitiveness, resonating positively with consumers and contributing to our ongoing growth and market penetration. In Mexico, we continued expanding our 2.5-liter returnable PET universal bottle across new territories. Now covering nearly all of our franchise territory, the universal bottle plays a versatile role, enabling refillable packaging for our core flavored sparkling beverages and juice brands. This includes everything from Fanta, Sprite and Valle Frut to local favorites like Escuis and Victoria. Moreover, we significantly expanded our refillable capacity and coverage of our 3-liter returnable PET presentation of Coca-Cola Original. In Colombia, we continued to expand the refillable universal bottle to now cover more than 10% of the country, enabling us to offer afford- able refillable PET presentations not only of brand Coca-Cola, but also of our flavored sparkling and still beverage brands. The rollout has led to notable increases in volume and share of sale in the cities where it has been introduced. Finally, in Guatemala and Costa Rica, we launched a new 500 ml universal bottle in 2023. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 27 ARGENTINA: GROWING CONSUMER BASE AND VOLUME THROUGH AFFORDABILITY STRATEGY Under our affordability strategy, we continued to regain share and expand our consumer base in the context of Argentina’s dynamic competitive and economic environment. Our evolving market segmentation strategy, which capitalizes on our com- prehensive value proposition and execution excellence, allowed us to offer the right product at the right price across segments. This approach not only improved our household penetration but also contributed to volume growth year over year. BRAZIL: CONSOLIDATING RETURNABLE GROWTH Through our returnable strategy and refillable universal bottles, we continue to consolidate our volume growth and competitive advantage across the sparkling bev- erage category in Brazil—our returnable volume grew year over year while increasing our returnable asset management. For the year, returnable presentations amounted to close to 165 million-unit cases, or more than 18% of our sparkling beverage mix. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 28 REACHING FULL POTENTIAL IN NON-CARBONATED BEVERAGES We continue to capture market share across emerging still beverage categories —from hydration to energy, tea, and sport drinks— aiming to achieve the full potential of our profitable non-carbonated beverage categories. MEXICO: OUTPERFORMING THE INDUSTRY WITH WATER AND POWERADE'S MARKET SUCCESS The stills beverage category continues as a relevant growth lever in Mexico, with our brands and portfolio outper- forming the industry. Water continues its growth trajectory, gaining share and registering a revenue growth of 28.7% year on year. Powerade ended the year as the market leader, increasing share of sales in the sports drink segment with 23% volume growth as compared to last year. BRAZIL: TOP 10 IN GLOBAL COCA-COLA STILLS In 2023, our operation in Brazil introduced several new flavors to further cater to evolving consumer tastes, thereby sustaining the growth momentum in the sports drinks and energy segments. Powerade launched Powerade Passion Fruit and Powerade Tangerine, aiming to refresh consumers with innovative flavors. Monster responded to the increasing demand for unique flavors by launching Monster Khaotic, Monster Mango Loco, Monster Pipeline Punch, and Monster Water- melon. These launches reflect our commitment to tapping into new market segments, ensuring our products remain at the forefront of consumer choices. Overall, our operation in Brazil has seen consistent growth within the non-carbonated beverage category, marked by significant contributions across various segments. Juices and sports drinks experienced growth rates of 16% and 28% respectively over the past year. This performance has contributed to Brazil becoming one of the Top 10 Stills mar- kets for Coca-Cola worldwide. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 2 9 COLOMBIA: 3X GROWTH IN FLAVORED WATER CATEGORY Building on the remarkable success of Brisa Manzana sparkling water, we have continued to expand our offerings with the introduction of Brisa Maracuyá. This latest addition to our Brisa range is a testament to our commitment to aligning with consumer trends towards no-calorie beverages. This approach has significantly paid off, as evidenced by the staggering threefold growth in our flavored water category this year in Colombia. These refreshing, flavor-infused waters are more than a triumph of innovation, they reflect our understanding of consumer preferences, helping solidify our position in the competitive fla- vored sparkling water segment. URUGUAY: A ROBUST STILLS PORTFOLIO THAT DRIVES MARKET LEADERSHIP By leveraging our consumer-centric approach, we are further enhancing the strength of our stills portfolio in Uruguay. The energy segment expanded its share of sales as compared to last year. Moreover, our isotonic portfolio, with local production and launch of new flavors, drove a 58% increase in volume year-on-year, increasing share of sales vs. the previous year. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 30 COCA-COLA FEMSA'S COMMITMENT TO RESPONSIBLE MARKETING, INFORMED CHOICES, AND QUALITY Our Consumers Are at The Center of Everything We Do Embracing principles of transparency, fact-based informa- tion, and authenticity, we consistently align our commercial practices with our values and our sustainability and business goals. As we evolve and respond to consumers’ desires for more choices across categories, we are reducing added sugar and offering more beverages with enhanced nutritional bene- fits. Additionally, we are optimizing our product mix, introduc- ing more small packaging options, and providing our consum- ers with access to transparent nutritional information. Informed Nutritional Decisions To enable our consumers to make healthy informed choices, our upfront product labels include clear nutritional content information. Our nutritional labeling strategy across our operations is based on providing consumers with easy-to- find and complete information in compliance with applicable regulations in the countries we serve. Our goal is to provide our consumers with high-quality information, enabling them to make informed decisions about their beverage choices. Responsible Marketing As part of our commitment to the well-being of our con- sumers and customers, our advertising strictly adheres to The Coca-Cola Company’s Responsible Marketing Policy and Global School Beverage Guidelines. As a member of the Coca-Cola System, we rigorously implement and enforce these policies, respecting the role of parents and caregivers by not marketing directly to children under 13. Moreover, we steadfastly promote respect for ethical marketing practices, in alignment with The Coca-Cola Company's guidelines. For more information see: →The Coca-Cola Company’s Responsible Marketing Policy →Hateful Activity Policy →Responsible Digital Media Principles Highest Quality Our production processes meet the highest quality standards, and our ingredients adhere to local regulations and interna- tional standards set by agencies such as CODEX, FDA, JEFCA, and EFSA in each of our geographies. We conduct our pro- cesses in state-of-the-art bottling facilities, all of which are FSSC 22000 certified1, ensuring the finest quality products for our consumers. 1. Does not include the 7 plants acquired in Mexico at the end of 2022, which are still in the required one-year alignment process to Coca-Cola FEMSA's standards. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 31 This year, we set the foundations towards becoming the preferred omnichannel commercial platform with Juntos+, by completely revising its IT architecture and successfully rolling out our version 4.0 in Brazil which significantly improves customer experience. BE THE PREFERRED COMMERCIAL PLATFORM OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 3 2 JUNTOS+ V4.0 B2B OMNICHANNEL EXPERIENCE UNLEASHED We are building an omnichannel B2B commercial platform, placing the customer at the core of every interaction. Our New Juntos+: Revolutionizing Industry Standards In 2023, we launched an improved mobile app and web experience for Juntos+ in Brazil, marking a significant milestone. The new architecture of Juntos+ enhances the user experience and supports the continuous de- ployment of analytical solutions in our digital products. Built on a cloud-native, decoupled, and composable architecture, our new Juntos+ mobile app and website offer the flexibility needed to further expand our suite of digital and analytical products. Fulfilling customer demand for a one-stop shop solution, Juntos+ enables our large base of clients to not only place an order for their favorite brands and categories whenever, wherever, and whichever way they choose, but also to take advantage of a constantly evolving array of features. Juntos+ offers much more than flexibility and conve- nience. This state-of-the-art digital shop allows us to dynamically tailor cross-selling and up-selling oppor- tunities with a recommendation system, promotions, and discounts, leveraging advanced AI algorithms and real-time insights for personalization harnessing user behavior and surrounding data. By leveraging the pow- er of data-driven decision-making, we can optimize sales strategies and enhance customer engagement, ultimately driving incremental revenue and maximizing the average transaction value. During 2024, we will continue deploying our new Juntos+ app and web across the countries where we operate. Moreover, we will be scaling up the use of AI, further enhancing our capabilities and offerings to better serve our customers. Juntos+ v4.0 is born-digital, seamlessly offering an array of new features Loyalty program AI suggested order Order tracking Loyalty plan in shopping cart Push notifications OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 33 IT HAS BEEN A FULFILLING JOURNEY JUNTOS+ RAPID ADOPTION GROWTH The adoption of Juntos+ has been remarkable, achieving 1.1 million monthly active users as of 2023, an increase of over 35% compared to last year. Across our markets, the growth of Juntos+ is reflected in increased orders and the resulting amplification of the performance of our core business and multi-category portfolios. In 2023, the more than 31.1 million orders we processed on digital channels represented approximately 15% of total sales—a 71% increase over 2022—and generated approximately US$2.4 billion in digital revenue. These results underscore the resounding success of our omnichannel strategy, which is shaping the future of B2B commerce in our industry. 1.1 MILLION monthly active users, +35% vs. 2022. 31.1 MILLION orders processed on digital channels, 15% of total sales— +71% vs. 2022. US$2.4 BILLION in digital revenue. FIRST LAUNCH 2019 ~1K MAU Monthly active users (MAU) ACCELERATED THE EVOLUTION OF OUR PLATFORM 2021 ~270K MAU CHATBOT-ENABLED PLATFORM 2020 ~140K MAU NEW APP IN BRAZIL USING AI 2023 +1M MAU THREEFOLD OUR MAU 2022 ~810K MAU What is next for Juntos+? The future of Juntos+ is filled with exciting developments aimed at enhancing our omni- channel experience further. Built on a modular and flexible architecture, Juntos+ integrates a newly developed analyt- ical stack to create and deploy big AI models, enabling the continuous deployment of cli- ent-centric solutions to better serve our clients and deliver the best customer experience. In the near future, we plan to test and release AI-powered solutions for both our clients and pre-sellers alike. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 34 TRANSFORMING TRADITIONAL TRADE DYNAMICS Seamless Synergy: The Juntos+ Experience As our business thrives on strong relationships, we are dedicated to ensuring that our B2B omnichannel platform, Juntos+, delivers a comprehensive experience that is built upon the exceptional personal interactions our client’s value. We are bridging the gap between face-to-face interactions and digital by offering a suite of digital products through which our clients can contact us, including our chatbot-enabled conversational commerce solution as well as an evolving web portal and mobile app. We also enhance our clients' experience through features like our Premia Juntos+ loyalty program and analytical products like our suggested order solution, which enables clients to quickly place orders with a few clicks driv- en by AI, helping our clients reduce lost sales by avoiding stockouts. Juntos+ seamlessly connects over 1.1 million monthly active users with us in real time, leveraging digital touchpoints to en- hance customer service and allowing our clients to commercially interact with us anytime, anywhere, and through an omnichannel experience. For this reason, we assess our processes from sales to delivery. To measure customer satisfaction, we use a comprehen- sive set of metrics ensuring that our approach is both thorough and effective. This exemplifies our commitment to listening and acting on customer feedback, solving their pain points through a homolo- gated close the loop process, making every interaction count. As a result, we have achieved remarkable improvements in customer satisfaction versus previous years. JUAN’S JOURNEY AS A HAPPY JUNTOS+ USER 10:00 am, Monday Juan, our client for many years, is visited by Mario, his regular pre-seller, and places his weekly order. 3:30 pm, Monday Juan realizes he forgot to order a specific product and decides to quickly use Coca-Cola FEMSA’s Chatbot to place a new order. 3:35 pm, Monday Mario receives a notification on his handheld and calls Juan to confirm his new order. 8:05 pm, Monday Juan receives confirmation from Coca-Cola FEMSA’s Contact Center for a technician visit within hours. 8:00 pm, Monday Juan reports a cooler malfunction via Coca-Cola FEMSA’s Mobile App. 10:30 am, Tuesday Juan uses Coca-Cola FEMSA’s Mobile App Order Tracking Function to confirm that his orders will be delivered in the afternoon. 12:55 pm, Tuesday Juan receives a notification: “You are our next customer on our service route.” 1:50 pm, Tuesday Juan receives both orders and uses Coca-Cola FEMSA’s Mobile App e-payment system to verify and pay his total balance. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 35 SETTING THE BENCHMARK FOR D2C ENGAGEMENT Our mission is to be the preferred D2C multi-category platform in households, delivering top-class products and services. Driving D2C Home Delivery Expansion in Mexico In 2023, we dedicated our efforts to expanding the reach of our D2C multicat- egory platform, providing an omnichannel experience that emphasizes the conve- nience of delivering a wide range of prod- ucts from both The Coca-Cola Company and other consumer goods companies directly to customers’ homes. Through the Coca-Cola en Tu Hogar app, alongside our website and chatbot, accessible across 75% of our routes, we have significantly broadened our digital footprint, elevating our monthly digital purchasing customer base to over 110 thousand digital households. Consum- ers benefit from a 24/7 digital shopping experience, allowing them to access our complete portfolio, explore promotions, discount opportunities, “Only Coke Can Do” experiences, and receive personalized service and direct support from customer call centers and delivery route drivers. In parallel, we concentrated on signifi- cantly enhancing our service experience. A testament to our efforts is the growth of our on-time in-full metric, which continued increasing in 2023, underscoring our com- mitment to delivering exceptional custom- er service and reliability. As we move forward, our commitment is to continually enhance and develop the functionalities of our evolving D2C omni- channel platform while assuring best-in- class delivery service. From integrating web-based digital payment platforms and expanding multi-category offerings to launching a new visual image and intro- ducing our loyalty plan, our focus remains on improving our value proposition and broadening household penetration in sync with our consumer-centric priority. More- over, we are evaluating the potential to expand our home delivery model to other countries based on their market potential and digital maturity. UNLOCKING DIGITAL-DRIVEN MULTI-CATEGORY GROWTH IN D2C HOME DELIVERY The success of our D2C platform is fur- ther reflected in the growing acceptance of digital and multi-category orders among home consumers, improving the productivity of our home delivery routes, average ticket, and sales. 1,750 total D2C routes. ~600K households served in Mexico. ~110K digital households. +1.7 million digital home delivery orders, +2.8x in the average ticket. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 36 DELIVERING MORE VALUE-TO-MARKET WITH MULTI-CATEGORY Our multi-category offering is a pivotal element in our growth strategy, characterized by its accretive nature to revenues and the strategic leverage of our existing logistics and distribution capabilities, enhancing our value proposition by addressing cus- tomers’ pain points through Juntos+ as an integrated solution that ultimately drives additional sales of our core portfolio. Enhancing Value: The Role of Multi-Category Strategy in Growth Our multi-category strategy is implemented through an omni- channel platform that offers our customers a diverse portfolio of products. By harnessing our installed logistics and distribution capacity, this strategy boosts return on invested capital. this success, including suggested cross-selling recommenda- tions within Juntos+, prioritizing SKUs with higher turnover rates. Fueled by these advances, we are not only escalating our trans- formation into a digitalized company—adopting technology and digital capabilities across our value chain—but also accelerating our growth into an omnichannel, multi-category player, position- ing us for success as the preferred commercial platform. Advancing Our Curated Multi-Category Strategy This year we continued to strengthen our multi-category strategy by exploring complementary revenue streams through distri- bution agreements and pilot programs with partners in specific markets. We implement our multi-category strategy by integrating end- to-end processes within our commercial and supply chain functions, creating a seamless ecosystem that facilitates collab- oration with our partners. The role of our pre-sellers is funda- mental to inform our traditional trade clients about our growing multi-category portfolio, while our digital capabilities serve as a catalyst to reach more customers faster. The synergy between Juntos+ and our multi-category portfolio not only streamlines operations but also significantly improves the overall value we offer to our clients and partners. Our focus on enhancing customer experience also plays a crucial role in We prioritize leading brands across adjacent categories in beer, spirits, alcoholic ready-to-drink beverages, home and personal care, snacks, and consumer packaged goods. Regarding beer in Brazil, we expect to continue capitalizing our brands and strengthening our portfolio as the premium segment continues to outperform. This tailored approach enables us not only to meet the evolving needs of our clients, ensuring that we cater to their preferences effectively, but also contributes to boosting our presence and visibility at the point of sale through targeted cross-promotion and execution opportunities across physical and digital realms. Although growing from a small base, total sales from our multicategory portfolio, excluding beer, DOUBLED VS. 2022 representing more than 1% of our total consolidated revenues. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 37 DE-BOTTLENECK INFRASTRUCTURE OUR As our company continues to grow, we aim to efficiently keep our infrastructure and digital operational capabilities ahead of the curve. This approach not only empowers the effective execution of our strategic pillars, but also enables us to optimize resource management and enhance customer satisfaction. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 38 GROWING, OPTIMIZING, AND DIGITALIZING OUR INFRASTRUCTURE We are making unprecedented investments to enhance our infrastructure and processes with the power of digital enablers, significantly expanding and optimizing our production and distribution capacity. This approach guarantees the required flexibility to continue growing and position our- selves as the preferred commercial platform for our clients. Investments in Capacity in 2023 And Beyond We plan to continue investing in production and warehouse capacity to meet growing demand. No- tably, over the next three years, we aim to increase our production capacity by 15% and our ware- house capacity by 30% to accommodate demand increases across the territories where we operate. Digitalizing our Plants for Enhanced Performance, Safety, and Environmental Impact We are implementing cost-effective and insightful digital initiatives that enhance our core manu- facturing processes. By focusing on minimizing risks, increasing agility, and improving operational efficiency, these initiatives ensure the seamless delivery of high-quality products to our customers. As part of our digital manufacturing strategy, we have identified the technological tools and appli- cations that underpin our Manufacturing 4.0 strategy. This ensures efficient manufacturing perfor- mance and focuses on developing capabilities for operational responsiveness and efficiency. Manufacturing 4.0 at Coca-Cola FEMSA Line Performance Connected Workforce Digital Maintenance Digital QSE Improve bottling line reliability and pro- ductivity with a line visualization platform. Digitize and automate operational activities to boost execution efficiency. Advance mainte- nance planning and execution with digital solutions that min- imize risk and en- hance asset produc- tivity and reliability. Drive the evolution of Quality and Safety standards through the use of digital solutions. DEMAND PLANNING EXCELLENCE At Coca-Cola FEMSA, our commitment to understanding and anticipating customer’s evolving preferences un- derscores our dedication to exceptional service and operational agility. De- mand Planning 360 is our response to the company's rapid growth, enabling prompt adjustments to the complexities of dynamic market demands. This ini- tiative leverages automation, analytics, and cutting-edge technologies to swift- ly adapt our infrastructure to market requirements and the seamless integra- tion of new product categories into our offerings, while maintaining a superior service delivery. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 39 REVOLUTIONIZING WAREHOUSE MANAGEMENT WITH AI In 2023, we advanced our warehouse optimization efforts to enhance our storage density and produc- tivity without incurring significant CAPEX. We are revolutionizing our approach to warehouse growth and management by implementing new strategies for space utilization—maximizing height, optimizing layout for more accessible fronts and minimized depths, and reducing the honeycombing effect. These innovations have increased our warehousing capacity by approx- imately 71 thousand pallet positions, saving us an estimated US$44.1 million in capital expenditures. We also increased a further 28 thousand pallets positions through new distribution centers and expansions. Through our customized AI platform, we have de- veloped and applied algorithms that improve ware- house processes, resulting in notable efficiencies by enhancing pallet and case slotting, staffing, and dock optimization. We are further planning to expand these advancements to all territories, leveraging our infra- structure investments to optimize our entire supply chain, from inventory management to distribution. New Investments in Our Primary and Secondary Fleet During 2023 We have made significant investments in both our T1 and T2 fleets, aiming to tackle two important chal- lenges: the increase in production volume and the need to substitute older equipment. These actions have been carried out to strengthen operational con- tinuity and maintain a high level of customer service. During 2023, we invested in 139 T1 units, and 908 T2 units, which cover more than 12,000 routes. • 87 MM UC/Year manufacturing capacity increase achieved through upgrades to existing lines and acquisition of new lines. • 5 new lines and upgrades installed. • 99 thousand pallet positions added to storage capacity through innovative space utilization strategies, new CEDIS, and expansion of existing ones. 1. T1: Primary distribution trucks. 2. T2: Secondary distribution trucks. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 40 NEW SUPPLY CHAIN CAPABILITIES EMPOWERING JUNTOS+ Our omnichannel strategy leverages the strengths of our leading-edge supply chain new capa- bilities to deliver on our vision of becoming our customers’ and partners’ preferred commercial platform and ally for growth. Our goal is to build a future-ready omnichannel commercial plat- form backed with a safe, digital, flexible, and resilient supply chain operation. Through our use of digital tools and increasing operational discipline, we seek to continuously improve customer service and the productivity of our delivery teams. ACHIEVING INCREASED EFFICIENCY AND CUSTOMER SATISFACTION FROM ORDER TO DELIVERY ROUTING AND TRUCK LOAD DESIGN OPTIMIZATION DIGITAL DISTRIBUTION AND REAL TIME ROUTING MI RUTA KOF 1 2 3 4 5 6 ORDER ENTRY AND FLEXIBLE DISTRIBUTION VOICE PICKING ORDER TRACKING W A R E H O U S E D E S I G N • O P E R A T I N G M O D E L S • D I S T R I B U T I O N P L A N N I N G O P T I M I Z A T I O N 1 Order entry and flexible distribution We can offer 24/7 order entry to our customers by leveraging both real-time and dynamic routing across our secondary distribution fleet in Argentina, Brazil, Colombia, Costa Rica, Guatemala, Mexico, Panama, and Uruguay. Through our Customer Control Tower, we monitor and manage our entire commercial and distribution operation, enabling the flexibility to plan vehicles’ routes on a daily, weekly, and monthly basis, thereby optimizing available delivery resources and distances traveled to serve our customers. 2 Routing and truck load design optimization We carefully plan delivery paths to navigate mobility and other con- straints efficiently. Moreover, our refined truck loading approach focuses on enhancing safety, reducing waste, and improving productivity. This streamlined process ensures timely, efficient, and safe deliveries, reflect- ing our commitment to operational excellence and sustainability. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 41 3 Voice picking; Advancing Picking Solutions for Optimal Warehousing In our quest for operational excellence, we strategically implemented advanced picking solutions, seamlessly merging real and optimal picking methodologies. Leveraging cutting-edge technology such as voice commands and digital imagery, these solutions elevate our warehouse services, enabling the meticulous assembly of mixed pallets tailored to individual client re- quirements, achieving maximum load and route optimization, and driving enhanced accuracy and productivity. We continued the rollout of voice picking capabilities across our Brazil and Mexico operations. 4 Digital distribution and real time routing Our updated Digital Distribution platform addresses the entire strategic and tactical planning cycle of our secondary distribution process—from analytics to delivery route plan- ning and execution. The platform features route traceability, a web-based app for supervisors, end-to-end supply chain network analysis, digital real-time routing control, and interaction with customers to track their orders. We have completed the rollout of digital distribution across our Brazil, Mexico, Costa Rica and Uru- guay operations. 5 Order tracking Consistent with our omnichannel multi-cat- egory strategy, we further deployed our or- der-tracking platform to enable customers to track their orders— created on any commercial channel—from the moment of shipment to delivery. 6 Mi Ruta KOF In Mexico, we implemented the Mi Ruta KOF, a business initiative that processes key informa- tion from different strategic areas to generate added value and facilitate integrated operation- al management. It tracks performance through- out the logistics process, enabling supervisors to conduct more detailed tracking, including safety indicators, customer service, and pro- ductivity metrics. Mi Ruta KOF is now active in over 20 thousand routes. ENSURING A CONSISTENT AND HIGH- QUALITY CUSTOMER EXPERIENCE ACROSS ALL TOUCHPOINTS We are focused on developing stan- dardized metrics to calculate customer service across our operations. By aligning metrics, we aim to gain a more compre- hensive understanding of our customer service performance, enabling us to identify areas for improvement, enhance customer satisfaction, and ultimately drive growth in critical market segments. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 4 2 STRENGTHEN CUSTOMER-CENTRIC OUR CULTURE At Coca-Cola FEMSA, we are on an exciting path to growth, where every single employee plays a pivotal role in shaping our future. To this end, we are strengthening our customer-centric culture and reorganizing the way we work into a more insight driven, agile, and effective organization. Our journey is rooted in customer centricity, ensuring that we deeply understand and meet the evolving needs of our customers and consumers. Alongside, we embrace a multiplier leadership style, empowering our team members to amplify their impact by leveraging their strengths and developing our people. Supporting these efforts is our commitment to psychological safety—a foundational element that allows our employees to voice their ideas, challenge norms, and contribute meaningfully without fear of retribution. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 43 CULTURAL EVOLUTION We refreshed our Vision and defined Coca-Cola FEMSA Principles to establish the cultural foundation of our customer centricity and growth transformation. Ten principles to drive Coca-Cola FEMSA towards its growth ambition and create the desired culture and work environment. We relate these principles to the human body: The head, focused on placing our customers first. The heart, encompassing 5 principles that relate to our employees, our people. And finally, the hands, with 4 principles that represent what and how we want to do things. COCA-COLA FEMSA PRINCIPLES 1. Place Customers First 6. Foster Psychological Safety Purpose TO REFRESH THE WORLD ANYTIME, ANYWHERE Refreshed Vision BE OUR CUSTOMERS’ AND PARTNERS’ PREFERRED COMMERCIAL PLATFORM AND ALLY FOR GROWTH, FOSTERING A SUSTAINABLE FUTURE. We place our customers and consumers at the center of our decisions. We strive to provide them with an exceptional experience and earn their preference. 2. Value Our People Nothing is more important than the safety of our people. We build high performance teams by hiring, developing, and promoting the best talent. Our leaders foster the continuous development of our people. We value diversity within our teams. 3. Do the Right Thing We conduct ourselves ethically and always do the right thing. In all our actions, we take care of the impacts we have on our planet, communities, and people. 4. Act as A Founder We think and act to maximize the long-term health of the business and not for short term results. We do what is best for the company as a whole vs. personal or functional agendas. 5. Promote A Growth Mindset We promote thinking big across our business. We value lifelong learning and self-development. We encourage our people to be curious and explore new possibilities. We foster environments where our people feel included, able to voice their honest opinion and debate openly without fear of being punished. We earn trust by communicating honestly and transparently with each other. Leaders must foster two-way feedback. 7. Operate with Excellence We operate at the highest standards and are disciplined in everything we do. We continually raise the bar in our teams to improve our products, services, and processes. Leaders operate at all levels and no task is beneath them. 8. Leverage Technology and Innovation We foster innovation, the use of new technologies and ideas that give us an edge in our business. We harness data and AI to generate a competitive advantage. 9. Act Swiftly We are action oriented. We challenge bureaucracy and streamline our processes to achieve the fastest response time. 10. Deliver Results We execute consistently on the metrics that matter to our business. We take full accountability for the results we deliver. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 44 DRIVING GROWTH THROUGH CUSTOMER CENTRICITY Placing Our Consumers and Clients at The Core of Everything We Do At the heart of our growth ambition lies our com- mitment to customer centricity. Understanding and meeting the ever-evolving needs of our customers are paramount, as it fuels innovation, enhances satisfac- tion, and strengthens loyalty. At Coca-Cola FEMSA, measuring customer service is a meticulous process that leverages a blend of key performance indicators. This comprehensive approach includes customer service metrics for key moments in the sell-to-delivery process, a Net Promoter Score (NPS), and sentiment analysis powered by AI. This ap- proach guides us to foster long-term customer loyalty. By placing our consumers and clients at the core of ev- erything we do—from product development to service delivery—we forge deeper connections, anticipate their needs, and exceed their expectations. This dedication not only sets us apart in the competitive landscape across our regions but also propels our growth, ensur- ing we remain at the forefront of the beverage industry. Our focus on customer centricity is a powerful driver of shaping a future where we continue to deliver value to every customer we serve. Key Customer Experience Indicators We have a customer centric focus, where understand- ing our customers through robust measurement is essential to shaping our strategies and decisions. • Customer Service Metrics enable us to assess and optimize every interaction with our customers, from the initial order to the final delivery. This granular insight helps us identify areas for improvement and ensure consistent service excellence. • Net Promoter Score (NPS) gauges customer loyalty and satisfaction by measuring their willingness to recommend our products and services. This met- ric provides a clear indication of our relationship strength with customers and the overall health of our customer service. • Sentiment Analysis, utilizing AI, allows us to un- derstand the emotions behind customer feedback across various channels. This advanced analysis offers us a deeper understanding of customer per- ceptions and needs, enabling us to tailor our services and communications more effectively. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 45 ENABLING A NEW WAY OF WORKING Fueled by technology and digital agility, Coca-Cola FEMSA’s Digital and Analytics Hub serves as a catalyst for a new Way of Working across the company, aligning the needs of customers, consumers, and business. Our Digital and Analytics Hub spearheads cultural transformation and strategic capability building. With a cus- tomer-centric mindset, we co-create digital and analytical solutions that seamlessly integrate across our com- mercial platforms—from Juntos+, direct-to-consumer, and indirect omnichannel platforms to digital payments, pricing, and promotions. Fostering a co-creation process, our Digital and Analytics Hub assembles agile innovation cells with diverse profiles and skills, ensuring active participation from conception to delivery. Leveraging frameworks like scrum or kanban, we facilitate continuous value delivery in short time spans. Collaborative workspaces encourage teamwork, creating an environment conducive to innovation. Our agile innovation cells not only accelerate omnichannel platform expan- sion but also yield positive value through an aggressive pipeline of digital and analytical solutions. Agile Cells: Solutions Focused on Customer Centricity Through our co-creation model, our agile cells are generating positive value through an aggressive pipeline of cus- tomer centricity digital and analytical solutions. Boosting Sales Optimizing Distribution Dynamics Elevating User Experience One of our agile cell’s innovations uses machine-learning algorithms to revolutionize inventory management. This solution for our Juntos+ B2B platform enables us to predict the number of products our clients need to prevent out of stocks, leveraging the suggested order feature to boost sales performance. Another agile cell’s innovation optimizes distribution planning using machine learning. This innovation accelerates delivery response capacity, amplifying customer service, and business profitability. Artificial intelligence, employed for calculating delivery times, has significantly elevated customer service levels. Our Juntos+ app agile innovation cell leverages customer knowledge to optimize the user interface, addressing frictions, expectations, and objectives. The result is a refined customer experience across every journey stage—from search and browse to product knowledge, ordering, and delivery status confirmation. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 46 BUILDING A PSYCHOLOGICALLY SAFE WORKPLACE Why is Fostering a Culture of Psychological Safety Crucial for Driving Our Growth Mindset? Fostering a culture of psychological safety is fundamental for empowering every employee to assertively contribute to Coca-Cola FEMSA’s growth journey. By ensuring an environ- ment where team members feel safe to express ideas, raise concerns, and challenge processes, we unlock the full po- tential of our workforce. This not only encourages innovation, productivity, and collective problem-solving but also deepens our understanding of our customers’ needs and expectations, driving our customer-centric culture. Transforming Company Culture: The Path to Psychological Safety In 2023, we embarked on a thorough program to immerse the entire company in a cultural evolution toward psychological safety. This comprehensive strategy encompassed a suite of training programs, cultural dynamics, and communication campaigns designed to permeate every level of the company. Action plans were tailored for implementation, with a special toolkit developed to facilitate management’s engagement with teams effectively across our operations. The initiative also in- cluded leadership summits and campaigns promoting appro- priate behaviors, all aimed at nurturing an environment where collaboration thrives. Through these coordinated efforts, we are laying the groundwork for an organizational culture where every employee feels that they belong, safe, valued, and em- powered to contribute to our collective growth and success. Achieving Outstanding Results By systematically measuring psychological safety within the organization, we aim to develop targeted strategies that help us advance in our goals. In 2023, we launched our company's first psychological safety survey to measure the level of comfort employees feel in four key safety areas that drive performance: inclusion, learner, contributor, and challenger. Over 10,000 employees par- ticipated in the survey, achieving an overall score of 61 points, with a standout score of 76 in inclusion safety. This result is an useful starting point, as we aim to build on these areas further. Moreover, we implemented our biennial employee engagement survey throughout our operations during 2023. With 93% participation, the survey showed par- ticularly outstanding results in two dimensions: com- mitment with 89% and enablement with 83%. These results offer a clear direction for where we need to concentrate our efforts to continue creating an even better workplace for everyone. 61% points achieved in our company's overall score on the first psychological safety survey. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 47 DRIVING MULTIPLIER LEADERSHIP How Does a Multiplier Leadership Approach Unleash our Company’s Potential? At Coca-Cola FEMSA, we embrace a multiplier leadership approach as a catalyst for growth and innovation. This leadership model ampli- fies the collective intelligence, capabilities, and engagement of our teams by empowering individuals to lead. Multiplier Leaders foster an environment where ideas flourish, challenges are embraced as opportunities for learning, and everyone is encouraged to contribute to their fullest potential. By leveraging the collective creativity of our workforce, we accelerate our progress towards achieving our strategic goals, enhancing our competitive edge, and ensuring we can deliver long term sustainable value in the evolving beverage industry. At the intersection of psychological safety and multiplier leadership lies an accelerated sustainable growth: psychological safety lays the groundwork for growth, and multiplier leadership accelerates it. FOSTER A SUSTAINABLE FUTURE OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 49 CATHERINE REUBEN CHIEF CORPORATE AFFAIRS OFFICER RAFAEL RAMOS CHIEF SUPPLY CHAIN AND ENGINEERING OFFICER INTERVIEW WITH OUR CORPORATE AFFAIRS AND SUPPLY CHAIN AND ENGINEERING OFFICERS 1. Catherine, Rafael, can you share insights about Coca-Cola FEMSA’s new Sustainability Framework? The new design of our Sustainability Framework marks an evolution in our commitment to fostering a sustainable future. At the heart of this framework are seven key pillars: Water Stewardship, World Without Waste, Climate Action, Product Portfolio, Sustainable Sourc- ing, Integral Employee Well-being, and Community Development. This comprehensive approach fortifies the integration of social, economic, and environmental value creation into every facet of our operations, acknowledging the link between sustainable practices and the ability to generate long-term value for all stakeholders. Underpinning these pillars are three transversal concepts that serve as the bedrock of our framework: Culture, Human Rights, Diversity, Equity, and Inclusion, and Ethics and Gover- nance. These concepts ensure that sustainability permeates across our organization. They highlight our commitment to creating a workplace and a world that respects human rights, celebrates diversity, and upholds the highest ethical standards. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 50 Our holistic view of sustainability recognizes that real progress can only be achieved by addressing challeng- es collectively. For example, our water stewardship ini- tiatives go beyond conserving water in our operations to include actions that contribute to water security for communities and ecosystems. Similarly, our efforts to build a World Without Waste extend to creating a circu- lar economy that reduces our footprint and encourages recycling and reuse in our communities. Climate Action is also a critical pillar in our framework. Coca-Cola FEMSA is committed to reducing its carbon footprint through energy efficiency, renewable energy adoption, sourcing, and sustainable logistics. In parallel, we continue to explore and offer zero and lower calorie products in our Product Portfolio as well as leveraging sustainable packaging solutions, demon- strating our dedication to both environmental steward- ship and consumer well-being. The Integral Employee Well-being and Community De- velopment pillars reinforce our belief that sustainabil- ity extends to creating a positive impact on the lives of our people and the communities we serve. By investing in the health, safety, and well-being of our employees and supporting the development of our communities, we strengthen the foundation upon which our company and people thrive. Our pioneering financing strategy closely aligns with our Sustainability Framework, ensuring our financial endeavors directly contribute to achieving our ambi- tious sustainability goals. These efforts not only drive us towards our environmental and social objectives, such as enhancing water efficiency, increasing renew- able energy use, and reducing carbon emissions but also reinforce our commitment to fostering economic, environmental, and social well-being across our value chain. Through our pioneering Green Bond and the introduction of our Sustainability-Linked and Sustain- ability Bonds in Mexico, we are investing in the future. Coca-Cola FEMSA's new Sustainability Framework is more than a commitment; it is a comprehensive strate- gy that embeds our social, economic, and environmen- tal commitments into the core of our business model, enabling us to face today's challenges while paving the way for a sustainable and inclusive future. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 51 2. Catherine, can you share how Coca-Cola FEMSA's commitment to community development drive both local well-being and the company's sustainability goals? At Coca-Cola FEMSA, we understand that our success is inherently linked to the devel- opment of our local communities. Our approach to community engagement is not just about being a good neighbor; it is also about fostering partnerships that yield lasting benefits for the community and our business. Moreover, this commitment extends throughout our entire value chain, from suppliers to clients and business partners, ensuring we continue to deliver economic value while generating social development across our operations. Our Model for Addressing Risks and Relations with Our Community (MARRCO) method- ology is the backbone of our efforts to build strong, win-win relationships with nearby communities. MARRCO guides us in developing comprehensive Community Engage- ment Plans, focusing on programs and activities that respond directly to community needs while ensuring our business's sustainability and growth. By 2030, our goal is to implement Community Engagement Plans based on the MARRCO methodology at every priority site, underscoring our dedication to this collaborative approach. By working closely with our communities, we not only enhance local development but also contribute to achieving our ambitious environmental objectives, including our water stewardship, PET collection, and climate action goals. Moreover, understanding that achieving our sustainability vision requires collective action, we also aim to build alliances beyond our local communities, including governmental bodies, industry peers, and environmental organizations. These partnerships are pivotal, enabling us to amplify our impact. BY WORKING CLOSELY WITH OUR COMMUNITIES, WE NOT ONLY ENHANCE LOCAL DEVELOPMENT BUT ALSO CONTRIBUTE TO ACHIEVING OUR AMBITIOUS ENVIRONMENTAL GOALS. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 52 WE ARE A GLOBAL BENCHMARK IN WATER EFFICIENCY WITH 1.42 LITERS OF WATER USED PER LITER OF BEVERAGE PRODUCED. +100% OF WATER USED IN 2023 BEVERAGES RETURNED VIA REPLENISHMENT PROJECTS. 3. Catherine, Rafael, can you outline the broader impact of our company's water stewardship strategy? At Coca-Cola FEMSA, we have embarked on a comprehensive water stewardship strategy that transcends our operations. Our goal has a dual commitment: to enhance water efficiency within our bottling plants and to extend our efforts far beyond, protecting the vitality of watersheds and fostering water access and resilience in the communities where we operate. Our dedication to operational efficiency is relentless. Every year, we invest in cutting-edge tech- nologies and best practices aimed at reducing our Water Use Ratio (WUR), a testament to our resolve to minimize our environmental footprint. Yet, our ambition is driven by the fundamental understanding that true stewardship encompasses not just conservation but active replenish- ment and community engagement. In collaboration with valued partners, including local governments, NGO, and international alli- ances, we are leading projects that revitalize local watersheds. From reforestation initiatives to the construction of sustainable water infrastructure, our projects are designed to replenish more water than we consume. We are steadfast in our determination to achieve a net-positive impact. Central to our strategy is the belief that water is vital for the communities. In regions affected by water scarcity, we actively collaborate with The Coca-Cola Company, The Coca-Cola Foun- dation, and FEMSA Foundation to co-create innovative programs that provide access to clean and safe water, sanitation, and hygiene (WASH) solutions. Through these initiatives, we are not just enhancing water access but also nurturing community development. In a world where water scarcity poses a growing challenge, our journey in water stewardship is one of innovation, collaboration, and profound commitment to our communities. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 53 4. Catherine, Rafael, what is Coca-Cola FEMSA's approach to advancing its World Without Waste strategic pillar? composed of 98% recyclable materials. This includes the transformation of Sprite bottles in 2023 from green to trans- parent to improve recycling efficiency. Our first approach has been our dedication to extending the lifecycle of our packaging. In 2023, 32% of our volume was generated from returnable/reusable bottles, surpassing the Coca-Cola System's 25% target by 2030. We are commit- ted to enhancing this initiative, ensuring that the benefits of returnable/refillable packaging for the environment and our consumers continue to grow. Additionally, we aim to use at least 50% recycled PET resin in our packaging by 2030. In 2023, we set a new benchmark by using 109,889 thousand tons of rPET in our packaging, mark- ing a 32% increase from the previous year and keeping us on track to achieve our goal. Our efforts also extend to designing lighter and more efficient bottles that require less material, while maintaining the quality and integrity of our products. The start of operation of PLANETA in 2024, our new PET recycling facility in Tabasco, Mexico, together with ALPLA, stands as a significant milestone. Designed to process 50,000 tons of PET annually, it will make a significant contribution toward our goal of achieving self-sufficiency in sustainable packaging materials. In addition to increasing the use of recycled resin, we also prioritize the recyclability of our packages. Our bottles are Our efforts to incorporate recycled materials extend beyond PET; we utilized 36% recycled glass, with our operations in Colombia and Central America leading the way, and 64% recycled aluminum, with Brazil and Argentina reaching an impressive 76%. We recognize that through collective action, we can achieve greater impact in our efforts to build a World Without Waste. For instance, through our longstanding partnership with ECOCE, we have contributed to elevating Mexico to a nation- al PET collection rate of 62.8%, on par with the European Union. This collective approach also includes educating communities on proper waste separation, enhancing recy- cling processes, and establishing effective PET collection systems. By fostering community involvement and strength- ening partnerships, we aim to increase recycling infra- structure and support local PET collectors, a critical step to achieve our ultimate goal of collecting the equivalent of 100% of the PET we use. Through these extensive and comprehensive initiatives, we are not merely working toward a World Without Waste; we are demonstrating the effectiveness of a holistic approach in building a resilient circular economy. WE ARE ADVANCING THE CONSTRUCTION OF PLANETA, OUR NEW FOOD-GRADE PET RECYCLING FACILITY IN MEXICO, WITH THE CAPACITY TO PROCESS 50,000 TONS OF POST-CONSUMER PET BOTTLES ANNUALLY. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 54 WE ARE PILOTING IN MEXICO CITY THE WORLD'S FIRST ELECTRIC TRUCK DESIGNED SPECIFICALLY FOR THE UNIQUE DEMANDS OF THE BEVERAGE INDUSTRY. 5. Rafael, how is Coca-Cola FEMSA advancing its sustainable mobility strategy, especially with the introduction of a new electric vehicle designed specifically for the beverage industry? In October 2023, Coca-Cola FEMSA took a significant leap forward in its ambitious journey toward green mobility by launching an eight-month pilot program featuring a new electric truck developed in partnership with BYD. This vehicle, the first of its kind in the world tailored specifically for the beverage industry, embodies our vision of combining customer-centric delivery processes with environmental stewardship. The truck's design caters to the unique demands of our operations, ac- commodating standard 14 low-bed pallets with flexibility for other configurations. This innovation, co-developed with BYD, represents a significant step in our commitment to green mobility. Given the extensive scale of our operations, with over 1,750 D2C delivery routes, the adoption of electric vehicles into our fleet would represent a significant step toward substantially lowering our carbon footprint and this pilot program stands as a promising component of our sustainable mobil- ity strategy. In addition to electric mobility alternatives, our pursuit of operational excellence through dynamic route optimization, advanced telemetry, and digital technologies continues to refine our distribu- tion strategies, enhancing fleet utilization, safety, and reducing environmental impact. By integrat- ing global partnerships, advanced analytics like Total Cost of Ownership, and standardized testing protocols, we are steering our fleet toward a holistic approach to sustainable mobility. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 55 6. Catherine, can you share how Coca-Cola FEMSA responded to the challenges posed by Hurricane Otis in Acapulco? Coca-Cola FEMSA has a long-standing history of stepping up and demonstrating a deep-rooted commitment to aiding communities affected by natural disasters across our operational footprint. This permanent commitment is a cornerstone of our corporate ethos, guiding our actions and initiatives. It is with this same spirit of responsibility that we approached the catastrophic impact of Hurricane Otis on Acapulco, the strongest hurricane on record to strike Mexico’s Pacific coast. Following the unprecedented devastation brought by Hurricane Otis, Coca-Cola FEMSA has taken a proactive stance in contributing to the recovery and resilience efforts in Aca- pulco, mobilizing resources and reaffirming our integral connection to the community. In the immediate aftermath, recognizing the urgent need for clean drinking water, we rapidly provided over 120,000 liters of bottled water to those affected. Moreover, to ad- dress the ongoing water scarcity, we deployed two VenXAgua Water Treatment Vehicles, each with the capacity to purify 48,000 liters of water daily, facilitating access to clean water for drinking and food preparation. We are now investing Ps. 575 million into reconstructing our Acapulco facilities and supporting the communities. This investment is not only about restoring our operational capacity but serves as a cornerstone of our efforts to contribute to revitalize the local economy. Through these actions, Coca-Cola FEMSA is demonstrating our unwavering dedication to the economic, social, and environmental well-being of the communities where we operate. OUR SUSTAINABILITY EFFORTS ARE INSPIRED BY OUR COMPANY’S COMMITMENT TO SIMULTANEOUSLY CREATE ECONOMIC AND SOCIAL VALUE WHILE GENERATING ENVIRONMENTAL WELL-BEING. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 56 COCA-COLA FEMSA’S PATH TO SUSTAINABLE AND INCLUSIVE GROWTH Sustainable Growth: Core Priority and Guiding Principle at Coca-Cola FEMSA At Coca-Cola FEMSA, our strategic priorities in- corporate sustainability principles in two comple- mentary ways. First, these principles serve as a foundational guideline, ensuring that every decision and its subsequent impact adheres to sustainable prac- tices. This commitment ensures that our growth is both sustainable and inclusive, and works to the benefit of all stakeholders involved. Second, sustainability stands as a core priority in its own right: a commitment to actively making a difference. We purposefully distinguish this from our broader guidance on sustainability in order to emphasize our dedication to proactive steps to- wards a more sustainable future. Our commitment extends beyond compliance, to the intentional fos- tering of a culture of action that achieves tangible results across our organization and value chain. Our Culture of Action In recent years, we have carried out a thorough sustainability transformation involving every part of our operation. Our goal was to align not only with local standards but also with global best practices, setting new benchmarks in our markets. To this end, we have set sustainability priorities based on materiality assessments and adapted our capital strategy to support sustainable devel- opment, partly through green, social, and sustain- ability-linked bonds. A dedicated Sustainability Committee directed this transformation. Top executives helmed the project, including our CEO, CFO, a COO, CHRO, Supply Chain and Engineering Officer, and Cor- porate Affairs Officer, along with members from the FEMSA Sustainability team. The committee’s diverse, informed perspectives ensured a com- prehensive approach and integrated a culture of action into our sustainability vision. THE KEY CONSIDERATIONS IN OUR SUSTAINABILITY TRANSFORMATION: 1. Embed sustainability in all critical business actions to ingrain a new way of working at Coca-Cola FEMSA. 2. Balance best-in-class efforts across environmental, social, and governance priorities. 3. Drive change from the top, encouraging bold decision- making and shared responsibility in advancing sustainability initiatives. 4. Consider all sources of value and the costs of inaction, balancing immediate financial incentives with the long- term value of sustainability progress. 5. Ensure transparency and define clear metrics that can be quickly cascaded throughout the organization. 6. Amplify change management through training, conveying the corporate sustainability strategy to key stakeholders and empowering them to implement change. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 57 SUSTAINABLE FUTURE FRAMEWORK The Evolution of Coca-Cola FEMSA’s Sustainability Framework We have recently updated our Sustainable Future Framework, building upon the foun- dation laid by our previous strategic model. This enhanced Framework now more pre- cisely aligns with the strategic directions of both FEMSA and The Coca-Cola Company, ensuring a cohesive approach to sustain- ability that resonates with our core values and business objectives. By refining our focus, we are better positioned to address current challenges and seize future oppor- tunities, driving sustainable growth and impact across all aspects of our operations. To update our Sustainable Future Frame- work, we undertook a comprehensive study in partnership with an independent third party, engaging over 300 individuals across our operational countries. This process included interviews with our corporate and senior leadership team executives, along with their respective teams, to gain in- depth insights. Furthermore, we organized work sessions with organizational leaders whose roles significantly influence sustain- ability practices across the company, and conducted forums involving key corporate functional areas to foster broad engage- ment. External perspectives were also integrated through interviews with investors and other research tools, ensuring a holistic view. Finally, FEMSA actively participated in the conclusive review of priorities, with a special focus on governance, to align our sustainability efforts with strategic objec- tives and stakeholder expectations. S & GOVE R N A N C I H T E E C Community development Water stewardship C U L T U R E Integral employee well-being SUSTAINABILITY FRAMEWORK World without waste Sustainable sourcing H U M A Product portfolio N RIGHTS, DIVER S I T Y , Climate action Y & IN CLUSION T I U Q E OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 58 OUR SUSTAINABILITY PRIORITIES 3 17 15 13 16 10 4 9 1 8 2 7 12 6 11 5 19 22 20 24 26 28 31 18 14 21 27 23 29 34 36 25 35 30 33 32 39 40 E C N A V E L E R R E D L O H E K A T S 37 42 38 41 44 45 43 B U S I N E S S S U C C E S S Materiality Assessment Our detailed materiality assessment aligns our sustainability priorities with both stakeholder expectations and the long-term objectives of our Sustain- able Future Framework. This approach ensures a targeted and impactful sustain- ability strategy and actions, appropriate to the evolving dynamics of our business environment and stakeholder community. In the process of identifying material issues, we conducted an analysis of our business risk matrix and revised both FEMSA’s governance structure and our priorities with The Coca-Cola Com- pany. We also considered key topics for the beverage industry according to sustainability experts, performed a detailed peer benchmark, and included considerations from external stakehold- ers such as NGOs and public opinion. This assessment’s outcome led to the strategic mapping and identification of 45 key topics and 17 material priorities within our Sustainable Future Frame- work. These were integrated into the company’s risk management process, reviewed, and approved by the senior management team. We are currently in the process of up- dating our materiality matrix and prior- ities. While this process is ongoing, we have made significant progress, refining our methodology and criteria to ensure comprehensive stakeholder engage- ment and robust analysis. An updated matrix and priorities will be published in our 2024 Integrated Report.  CLIMATE ACTION 4 GHG Emissions Reduction 5 Sustainable Mobility 6 Climate Change Adaptation 9 Energy Management: Renewables and Efficiency  WATER STEWARDSHIP 10 Water Access, Sanitation, and Hygiene (WASH) 11 Context-Based Hydrological Safety 17 Water Efficiency  WORLD WITHOUT WASTE 1 Packaging Circular Economy 12 Consumer Engagement for Circular Economy 26 Industrial Waste Circular Economy 34 Customer Engagement for Circular Economy  PRODUCT PORTFOLIO 2 Nutritional Attributes of Product Portfolio 7 Product Portfolio Diversification 18 Advertising and Commercial Practices 31 Promotion of Healthy Habits 38 Information and Quality of Products  SUSTAINABLE SOURCING 28 GMOs and Traceability of Ingredients 36 Support of Local Supply Chains 41 Supplier Relationship Management 43 Environmentally Responsible Dairy Farming  COMMUNITY DEVELOPMENT 14 Supporting Small Businesses 19 Women’s Empowerment 22 Local Community Relationships  INTEGRAL EMPLOYEE WELL-BEING 16 Safety, Health, and Wellness 21 Labor Relations 32 Talent Attraction 33 Compensation and Benefits 44 Training and Development 45 Opportunities for Youth  ETHICS AND GOVERNANCE 3 Global Integrity and Compliance 8 Relationship with Government 23 Standards for Contractors 24 Best-in-Class Board Practices 25 Information Security and Cybersecurity 27 Partnerships for Sustainability 29 Digitalization in Customers’ Processes 30 Comprehensive Risk Management 35 Code of Conduct 39 Customer Satisfaction Measurement 40 Quality of Service for Customers 42 Mechanism for Consumers to Raise Concerns  HUMAN RIGHTS, DIVERSITY, EQUITY, AND INCLUSION 13 Human and Labor Rights 15 Diversity and Inclusion  CULTURE 20 Culture, Ethics, and Values 37 Road Safety OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 59 CONTRIBUTION TO THE UNITED NATIONS SUSTAINABLE DEVELOPMENT GOALS We are committed to contributing to the achievement of the United Nations Sustainable Development Goals (SDGs). While many of our actions contribute to the 17 SDGs, the greatest impact opportunities as we carry forward our Sustainable Future Framework and initiatives lie within these fourteen goals: We are collaborating with FEMSA Foundation on social initiatives in our communities, focusing on early childhood and healthy lifestyles. We’re dedicated to efficient water use, conserving watersheds, and contributing to safe drinking water access for our communities. By 2025, our ambition is to develop with our communities and stakeholders one water access or replenishment project at each priority site, returning locally 100% of the water we use. We maintain a focus on the health, safety, and well-being of our employees, customers, consumers, and communities through our internal and external social priorities. In so doing, we reinforce our commitment to economic value, social and environmental well- being. Additionally, we offer a diverse beverage portfolio—including our expanding zero- and low-sugar options—and implement responsible marketing strategies. We strive for a broad energy efficiency strategy across our operations and our entire value chain, integrating renewable energy sources and technologies to cut CO2e emissions in line with our climate action commitment. Aligned with our ambition to improve gender diversity at all levels of the organization, we are deploying initiatives to increase women's representation across our operations. By 2030, our ambition is for women to represent 40% of leadership and management positions. We are also implementing programs to foster women's financial and digital empowerment in traditional trade. We pursue sustainable economic growth by efficiently using resources, fostering a work environment for comprehensive professional development, creating jobs in emerging markets, and applying sustainable sourcing. Additionally, we develop community initiatives focused on empowerment to boost resilience and reinvigorate local economies. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 60 We integrate digital innovation to bring added value to our value chain, including training programs designed to empower customers with technological advancements that enhance overall efficiency. Additionally, we work to enhance our sustainability performance and drive industry innovation, focusing on key areas like water stewardship, energy efficiency, and reducing our carbon footprint across the value chain. By 2030, we are committed to decreasing our Scope 1 and 2 emissions by 50% and reducing our Scope 3 value chain emissions by 20% vs. 2015, aligned to Science Based Targets initiative. To meet these ambitions, we set initiatives to transition relevant operational assets to lower emission alternatives and are launching various initiatives to address emissions throughout our value chain. Our work with small local businesses across our extensive value chain of suppliers, customers, and other stakeholders seeks to improve their financial and digital inclusion. Simultaneously, we focus on contributing to our communities with safe water, improved sanitation, and hygiene education. Given the growing urgency of shared water action across the value chain, our comprehensive water strategy is focused on water efficiency, replenishment, and access. By leading our industry in water efficiency, we contribute to the preservation of natural habitats and biodiversity, which rely on balanced water ecosystems. Moreover, our social water stewardship commitment safeguards people’s right to water and aims to contribute to its availability for present and future generations. Aligned with our community engagement priority, we are focused on advancing the development of the communities where we operate and serve. Our mindset and approach for all collaborative endeavors across our operations is to create sustainable solutions tailored to local needs. Our corporate governance and business conduct not only fully comply with applicable regulations in our countries of operation, guided by our Code of Ethics, but also serve as a model for other institutions. In dealing with suppliers, we apply guiding principles that concentrate on strategic input categories, which cover human rights, environmental protection, and labor rights, setting a standard in ethical practices and responsible business conduct that we hope will inspire and influence others in our industry and beyond. With support and shared responsibility of stakeholders across our value chain, we are poised to effectively implement a comprehensive circular economy strategy. Our ambitious 2030 goal involves not only collecting the equivalent of 100% of the PET bottles we place in the market but also implementing a broader market-based circular economy approach by using other packaging materials like glass and aluminum cans, ensuring sustainable practices across our entire portfolio. We recognize that complex, evolv- ing challenges demand innovative, collaborative solutions. Embracing this, we partner with companies, governments, NGOs, and institu- tions to maximize our impact. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 61 SUSTAINABILITY CREDENTIALS 1ST MEXICAN COMPANY DJSI to secure approval of the Science Based Targets Initiative (SBTi) for our GHG emissions reduction goals Coca-Cola FEMSA was named to the Dow Jones Sustainability MILA Pacific Alliance Index for the sixth consecutive year. 4TH CONSECUTIVE YEAR and 6th in a decade of inclusion in S&P Global’s Sustainability Yearbook 5TH CONSECUTIVE YEAR of inclusion in the Bloomberg Gender-Equality Index 4TH YEAR of recognition as one of the Best Places to Work for LGBTQ+ Equality by the Human Rights Campaign Foundation and HRC Equidad MX: Global Program for Labor Equity First bottle-to-bottle recycled PET plant in Latin America. 2004 Established our 2020 Sustainability Goals. 2015 Issued the largest Green Bond for a Latin American company and first in the Coca-Cola System. First Mexican company and third in Latin America to obtain SBTi approval. 2020 First company in the consumer sector in the Americas and the Coca-Cola System to issue Social Bonds. 2022 2012 Included in the Dow Jones Sustainability™️ Emerging Markets Index and the Sustainability Index of the Mexican Stock Exchange. POSITIVELY TRANSFORMING OUR COMMUNITIES OUR COMMUNITY Diversity Equity and Inclusion OUR PEOPLE OUR PLANET OUR ETHICS AND VALUES GOVERNANCE 2017 Published the First Coca-Cola FEMSA Annual Integrated Report. 2021 Issued a Sustainability- Linked Bond in the Mexican market, focused on water efficiency. 2024 New food-grade PET recycling plant in Tabasco, Mexico, known as PLANETA. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 62 Setting the Global Standard for Water Efficiency in Our Industry Our commitment is to accelerate the actions needed to ensure sustainable water security in our operations, water- sheds, and the communities we serve. In line with this com- mitment, we have established three objectives for our Water Stewardship Strategy: 1. Enhancing water efficiency in our operations. 2. Replenishing water in our geographies. 3. Providing access to water, sanitation, and hygiene (WASH) for local communities. WATER STEWARDSHIP At Coca-Cola FEMSA, we not only strive to enhance water efficiency in our operations but also contribute to water replenishment and access in the communities we serve. Our multifaceted approach includes rigorous water risk assessments, targeted replenishment efforts, and fostering community resilience, underlining our dedication to safeguarding water resources for future generations. Our Focus Our Goals How do we identify our water risks? Our Standard Efficiency Access Replenishment WUR 1.36 liters of water per liter of beverage by 2024. 100% compliance with The Coca-Cola Company/local water discharge parameters. 100% Priority Manufacturing Plants with AWS Certification in 2026. Ensure by 2030: • 100% replenish in high stress areas. • Water access in Coca-Cola FEMSA operations. • Contribute to promote water access to key communities in priority sites. Water Risk Assessment Focus on water availability, infrastructure, regulatory compliance, community perception, well status and water cost. MARRCO The MARRCO model comprises  managing risks and community engagement, which helps to guide and inform our value-generating engagement activities and programs with our local communities. Alliance for Water Stewardship (AWS) Guidelines for responsible water stewardship through a comprehensive framework and certification system. JOINING THE CEO WATER MANDATE CEO WATER MANDATE In 2023, we deepened our commitment to the careful and efficient use of water resources by joining the CEO Water Mandate. This initiative, Coca-Cola FEMSA does not operate within any protected natural areas. However, in alignment with the CEO Water Mandate and the Alliance for Water Stewardship, we ensure to identify natural areas within the watershed that are in proximity to our operations. aimed at mobilizing business leaders, works in collaboration with the United Nations and other entities to tackle global water challenges. Through the initiative, we will collaborate to enhance water resilience across operations and supply chains, and work to achieve collective positive impact on water resources in at least 100 vulnerable water basins by 2030. We remain aligned with our commitment to maintaining sustain- able water management practices based on the 5 outcomes of Alliance for Water Stewardship (AWS): Good Water Governance, Sustainable Water Balance, Good Water Quality Status, Important Water-Related Areas and Safe Water, Sanitation And Hygiene For All (WASH). OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 63 REGENERATIVE OPERATIONS: LEADING OUR INDUSTRY IN WATER EFFICIENCY Achieving New Milestones in Water Use Ratio Reduction As our company grows and adapts its portfolio to promote return- able/reusable bottles across our geographies, we remain commit- ted to our vision of pushing the boundaries of water efficiency. efficiency programs across our operations, guided by our Top 20 Water Saving Strategies. These initiatives include a range of actions from detecting and fixing leaks to efficiently managing water use in our plants and improving our water recovery systems. We use a dual approach in our water efficiency strategy that underscores our commitment to responsible water use and environmental protection. First, we are dedicated to reducing the Water Use Ratio (WUR)—the amount of water utilized per liter of beverage produced. Second, at the end of our production process, we treat 100% of the water we discharge according to local and The Coca-Cola Company requirements, providing sufficient water quality to support aquatic life. In accordance with our →Sustainability-Linked Bonds Framework issued in 2021, the company has a 2024 goal to achieve a WUR of 1.36. Accordingly, in 2023, we invested US$10.35 million in water Achieving New Milestones in Water Use Ratio Reduction As a result, we continued to improve water efficiency in our opera- tions to an industry leading WUR of 1.42 at the end of 2023, an im- provement from 1.46 in 2022. Our 2023 WUR represents a 17.4% enhancement in efficiency since our baseline in 2016, establishing us as a leader in water efficiency in the beverage industry. We want to call attention to the fact that 12 of our plants in Brazil, Colombia, and Mexico are already well below our intermediate goals and 2026 ambition. Our Tocancipá plant in Colombia is leading the group of carbonated beverage plants, with a remarkably low WUR of 1.18 at the end of 2023. 17.4% enhancement in water efficiency since our baseline in 2016. 2 7 . 1 7 4 . 1 6 4 . 1 2 4 . 1 6 3 . 1 2016 2023 2022 2021 2024 GOAL WATER USE RATIO (WUR) Liters of water used per liter of beverage produced Water Efficiency – Progress & 2023 Highlights This year, we used a total of 30,986 megaliters of water, discharging 8,381 megaliters back. We treated 100% of this discharged water to quality levels that could sustain aquatic life. Total (ML) Total (ML) Municipal water 9,239.36 Water discharged to sewers 4,461.77 Rainwater 7.28 Water discharged into rivers 3,819.66 Well water 21,739.13 Total water discharged 8,381.43 River water 0.26 Total water withdrawal 30,986 OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 64 FROM CONSERVATION TO REPLENISHMENT: OUR WATER SECURITY COMMITMENT Ecosystem Conservation for Water Resilience Beyond our commitment to water efficiency in our operations, we are steadfast in our pledge to replen- ish more water to the environment than we use to produce our beverages. The conservation of ecosys- tems within the watersheds where we operate stands as one of the most important elements for enhancing water resilience for both our operations and the com- munities we serve, as these ecosystems directly influ- ence the aquifer's water infiltration capacity through the biogeochemical cycle. To this end, we implement nature-based solution projects that not only boost water infiltration but also mitigate climate related risk of biodiversity loss and natural disasters. In 2023, our efforts positively impacted over 48 thousand hectares through conservation, protec- tion, and reforestation, enabling us to replenish over 100% of the water we use in our beverages. Our programs are aligned with the Alliance for Water Stewardship (AWS) certification approach, utilizing In 2023, we replenished over 100% of the water used in our beverages. our Water Risk Assessment tool to identify the root causes of vulnerabilities in the watershed, ensuring proactive risk management. → Visit page 89 to learn more about our Model for Addressing Risks and Relations with Our Community. Updated Water Risk Assessment Tool In 2023, we significantly upgraded and digitalized our Water Risk Assessment tool (WRA), adopting a comprehensive approach for effective water re- source risk management. The tool is now aligned with ISO 31000's Risk-Consequences Matrix and incorporates ESG risk factors from the Sustainabil- ity Accounting Standards Board (SASB), as well as components from the Aqueduct Water Risk Atlas and Water Risk Monetizer from Ecolab, among oth- ers. The WRA tool focuses on identifying root causes of water-related risks such as water scarcity and treatment or discharge issues, alongside water man- agement, regulatory compliance, and ESG concerns that could impact operations or water supply. It also accounts for biodiversity, climate change vulnerabil- ity, and utilizes our Model for Addressing Risks and Relations with Our Community (MARRCO) to identify and engage with key stakeholder groups. Annually, we evaluate 100% of our operations for water-related risks. Additionally, we conduct Source Vulnerability Assessment studies across 100% of our operations to address environmental risks, including climate variability and watershed ecosys- tem deterioration, as well as social, economic, and institutional factors. Focus on Priority Sites In 2023, using our WRA annual assessment, we analyzed water risks across 100% of our opera- tions, finding that none are situat- ed in protected natural areas. Out of our 56 plants, 30 were identified as priority sites located in areas of medium to high water stress. We developed enhanced mitigation plans for both identified and potential water challenges and are advancing the imple- mentation of the AWS Standard at these sites. The total water withdrawal in high water stress areas reached 10.8 thousand megaliters in 2023, representing less than 35% of our total water withdrawal. We have set a goal to replenish locally 100% of the water we utilize in production at medium and high- stress sites. Our ambition for these locations goes beyond water neutrality to promote basin protection and ecosystem regeneration. Through our partner- ship with The Coca Cola Company, The Coca-Cola Company Foundation, FEMSA, FEMSA Foundation, and various consultancies and organizations, we have implemented replenishment and WASH proj- ects in these locations. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 65 ENHANCING ACCESS TO WATER, SANITATION, AND HYGIENE Contributing to Building Resilient Communities The human right to water is essential not only for living with dignity but also as a vital precondition for the fulfillment of other human rights. A key element of our Water Stewardship Strategy is collaboration with neighbors, governments, and other institu- tions to foster water resilience in the com- munities where we operate. Throughout our annual Water Risk Assess- ment, we have identified 14 priority sites for the deployment of access to water, sanita- tion, and hygiene initiatives. Our journey in enhancing water accessibility is ongoing. We are dedicated to finding innovative solutions and forging new partnerships to enhance water access and support the long-term health and prosperity of the communities where we operate. Currently, we have ac- cess projects in Argentina, Brazil, Colombia, Costa Rica, Guatemala, and Mexico. Some of Our Community Water Replenish and WASH Projects In 2023 • Argentina: enhanced water efficiency in agricultural areas through Kilimo software. Utilizing Big Data and AI, it predicts crop demand and provides irrigation recom- mendations, enabling savings of 20-25% in water usage. • Colombia: provided water filters to 350 families through the Filtros que Dan Vida project that do not have access to safe drinking water, contributing to improving their well-being and quality of life. • Costa Rica and Colombia: the Agua por el Futuro Replenishment Program focuses on conservation, reforestation, and regenera- tion activities to enhance water absorption in the company's impact basins. • Guatemala: supported the enhancement of the María Linda river sub-basin, the Ocosito sub-basin, and the improvement of the Pasabien basin, to contribute with water availability for the local communities. • Mexico: through the Escuelas de Lluvia program, we addressed water scarcity in schools by installing rainwater harvesting systems and running environmental edu- cation programs. • Panama: collaborated with the commu- nity for the rescue, reforestation, and res- toration of the mangrove. Our volunteers, along with external volunteers, planted 1,000 trees. • Uruguay: contributed to establishing the Uruguayan Water Alliance Foundation, aimed at fostering public-private partnerships for nature-based projects to achieve regional water security. SUPPORTING PARTNERSHIPS AND COLLABORATION FOR WATER SECURITY We believe that collective action is fundamental to providing water security and therefore to the success of water replen- ishment projects. For more than 12 years, together with FEMSA and FEMSA Foundation, we have supported the Latin American Water Funds Alliance, a collaboration with organi- zations like the Inter-American Development Bank and The Nature Conservancy. This Alliance focuses on water security by establishing water funds that foster multi-stakeholder partnerships, aligning distinctive visions and pooling resourc- es for nature- and science-based solutions. The Alliance has formed over 300 partnerships and initiated 26 water funds in the countries where we operate. These funds are mecha- nisms for collective action at the local level aimed at aligning visions among different stakeholders in the basins and pool- ing resources to implement nature-based and science-based solutions to contribute to water security. We also collaborate with The Coca-Cola Company, The Coca-Cola Foundation, and FEMSA Foundation to co-create initiatives aimed at enhancing community well-being by facil- itating access to water, sanitation, and hygiene (WASH), am- plifying our collective positive impact. By supporting commu- nities in getting access to water and using it more efficiently, we contribute to reducing demand from watersheds and their long-term protection. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 66 WORLD WITHOUT WASTE Our aim is to build a circular economy that minimizes waste by making the most of current resources. We see this as the best solution to overcome the environmental and climate challenges associated with our packaging and operations. Circular Approach Across Our Business Our commitment to building a World Without Waste extends to overseeing our operations and the entire lifecycle of our packaging. This holistic ap- proach is central to our environmental strategy, ensuring our business prac- tices are sustainable across all areas through four key elements: 1. Adopting sustainable designs with lighter solutions and higher use of recycled materials. 2. Enhancing waste collection and recycling directly and through partnerships. 3. Promoting the use of returnable/ refillable bottles. 4. Striving for zero waste in our operations. Distribution centers Smart design Using recycled material in our packaging ZERO WASTE IN OPERATIONS SUSTAINABLE PACKAGING DESIGN PROMOTE RETURNABLE / REFILIABLE BOTTLES ENHANCING WASTE COLLECTION AND RECYCLING Recyclable packaging Growing our recycling capabilities Bottling plants Universal Bottle PET and Glass returnable / refi llable bottles Building new partnerships OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 67 OUR CIRCULAR ECONOMY APPROACH OVERSEES THE ENTIRE LIFECYCLE OF OUR PACKAGING AND OPERATIONS, AIMING TO REUSE, REDUCE, AND RECYCLE WASTE, AS WELL AS MITIGATE ENVIRONMENTAL IMPACT 32% of our volume come from returnable/ refillable packaging, surpassing the Coca-Cola System's 25% target by 2030. In 2023, we used 109.89 thousand tons of recycled PET resin in our packaging, a 32% annual increase. Our PET packaging in 2023 included 33% RECYCLED RESIN, aiming for our 50% goal by 2030. We used 36% RECYCLED GLASS, with Colombia and Central America leading. We used 64% recycled aluminum, with Brazil and Argentina reaching an impressive 76%. Our bottles are composed of 98% recyclable materials, including a shift from GREEN TO TRANSPARENT Sprite bottles to improve recycling efficiency. PLANETA, our new PET recycling facility in Tabasco, Mexico, will process 50,000 tons of PET annually. Since 2002, we partner with ECOCE, contributing to a national PET collection rate of 62.8% in Mexico. Our MY ZERO WASTE STORE program in Mexico integrates waste collection into small business operations, enhancing community environmental stewardship. 3 additional bottling plants achieved zero waste status in 2023, bringing the total to 84% of all our plants. We recycled 98% of our industrial solid waste in 2023. 100% zero waste certification for plants by 2025 and distribution centers by 2030. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 68 ENHANCING WASTE COLLECTION AND RECYCLING Returnable/Refillable Bottles: Results Ahead of Schedule We lead the charge in promoting the use of returnable/refillable bottles across our geographies, with 32% of our volume coming from this packaging option, surpassing The Coca-Cola System's target of 25% adoption by 2030. This result is bolstered by our universal bottle and affordability initiatives that can be used across multiple beverage categories. →For more information see Portfolio. leading the way at 45% and 42% respectively. Additionally, we achieved a milestone in using 64% recycled aluminum, with our Brazil and Argentina operations reaching an impressive 76%. Recyclable Packaging In addition to prioritizing rPET in our packaging, we also want the materials in our bottles to be easily recyclable. This year, our bottles were composed of 98% recyclable materials. The use of returnable/refillable packaging plays an important role in reducing the environmental impact of supply chains by not only reducing waste but also contributing to the conservation of natural resources. Using Recycled Materials in Our Packaging We encourage the use of recycled materials when manufactur- ing packaging for our products, reflecting our commitment to circularity, reducing waste, and promoting the responsible use of resources in our operations. We continue to advance the use of rPET in our packaging. In total, we used 109.89 thousand tons of recycled resin in 2023, a 32% annual increase. In the year, we used 33% recycled resin across our beverage portfolio. This result keeps us on track to achieve our goal of using 50% recycled resin in our packaging by 2030. In partnership with The Coca-Cola Company, in 2023 we com- pleted the switch from green to transparent Sprite bottles in Latin America. This change represents an increase in PET bale collection efficiency up to 15%, significantly improving the ef- fectiveness and quality of both the collection and production of recycled resin. Growing Our Recycling Capabilities We continue to advance the construction of our new food-grade PET recycling facility in Tabasco, Mexico known as PLANETA, in a joint venture with ALPLA. This facility will have the capacity to process approximately 50,000 tons of post-consumer PET bottles annually, which we plan to supply from 18 collection cen- ters. The PLANETA recycling plant will join the IMER food-grade PET recycling system, which we launched in 2005 as a joint venture with The Coca-Cola Company. Parallel to our efforts with rPET, we have made significant strides in incorporating other recycled materials into our packaging solutions. In 2023, we used 36% recycled glass across our operations, with our operations in Colombia and Central America The new plant, together with the collection centers, will help us optimize the rPET production cycle in the Southeast region of the country and keep us on track to achieve our goal of using at least 50% rPET in our plastic bottles and collect the equivalent to 100% of the PET volume we place in our markets by 2030. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 69 STRENGTHENING RECYCLING ECOSYSTEMS ACROSS OUR OPERATIONS Some of Our Community Recycling Projects In 2023 • Argentina: we are collaborating with private waste man- agement entities that sell to the recycling industry to enhance the economic viability and efficiency of recycling processes. • Colombia: our Reciclaje Motocargueros program provided 60 motorized cargo vehicles to recyclers, enhancing their work dignity and increasing recyclable material collection rates by 5%. • Costa Rica and Nicaragua: we focused on the recovery of post-consumer PET waste, working with specialized organizations to collect, process, and utilize waste, aiming to reclaim post-consumer materials nationwide. • Guatemala: through recycling bins located in shopping centers, supermarkets, and universities, the Ecobots pro- gram encourages consumers to recycle their PET bottles by offering discount coupons. • Mexico: our My Zero Waste Store engages local business- es, to promote more efficient reclaimable waste manage- ment and significantly contributing to our environmental sustainability efforts. Building Strong Partnerships In addition to advancing our recycling capabilities internally, we recognize the benefits of partnering with communities, the public sector, regulators, industry allies, and NGOs, to ensure a sustainable supply of recycled PET. By building strategic partnerships, we are not only implementing commu- nity-based collection and recycling programs but also raising awareness about post-consumer waste management and educating consumers on proper waste disposal practices. In collaboration with the Mexican non-government associa- tion ECOCE, we lead our industry since 2002 in the creation of a robust national market for recycling through collection and recycling programs. The ECOCE Model has resulted in an impressive national PET collection rate of 62.8% in Mexico, equivalent to the levels achieved by the European Union. Go- ing forward, we will continue to evaluate new opportunities to engage proactively in new collaborations with the aim of boosting PET collection and recycling across our regions. Promoting Effective Waste Management and Recycling Across Our Communities Our partnership with PET collectors is focused on promoting their economic development. We aim to provide access to necessary resources, enhance their skills, and ensure com- pliance with local regulations as well as The Coca-Cola Com- pany's guidelines. These efforts are designed to empower them and contribute meaningfully to their communities. Going forward, we will continue integrating recycling into our operations and the fabric of community interactions with a multidimensional approach that adapts to local conditions across the countries where we operate. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 70 ZERO WASTE IN OUR OPERATIONS Certifying Our Operations as Zero Waste In addition to our circular packaging initiatives, we have also made strides in our operational waste management. Our ambition is to have 100% of our bottling plants achieve zero waste status by 2025 and 100% of our distribution centers by 2030. In 2023, three additional bottling plants achieved zero waste status, bringing the total to 41, reaching 84% progress toward our goal. The year also marked a milestone with the certification of the first zero waste distribution center in the Americas within The Coca-Cola Company system. In 2023, we achieved a waste ratio of 8.17 grams of waste per liter of beverage produced. Most significantly, we recycled 98% of our industrial solid waste, while correctly disposing the rest. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 7 1 CLIMATE ACTION At Coca-Cola FEMSA, we acknowledge the significant and pressing challenge posed by climate change. Our commitment is rooted in the understanding that this urgent matter affects us all, and it is only through united, well-informed actions that we can effectively address the impacts of climate change. Carbon Reduction Levers: Transforming Our Operations and Value Chain We adopt a holistic approach to assess emission reduction opportunities, aiming to minimize the carbon footprint in our operations and throughout our entire value chain. INGREDIENTS (Scope 3) MANUFACTURE (Scope 1 & 2) PACKAGING (Scope 3) DISTRIBUTION (Scope 1, 2 & 3) COOLERS (Scope 1 & 3) 25% • Strategic suppliers development 3% • Renewable energy • Energy efficiency • Migrate boilers to natural gas 28% 17% 27% • Sustainable packaging and light weighting • Renewable energy • Energy efficiency in own and third party fleet • Promote the use of electric vehicles in our fleet • Renewable energy in SMEs • Energy efficiency • Refrigerant gases confined and/or recirculated Science Based Targets We are committed to a 50% reduction in Scope 1 and 2 emissions, along with a 20% reduction in Scope 3 emissions by 2030 vs. 2015. We firmly believe that combating climate change requires a sci- ence-based approach, involving collaborative efforts from multiple stakeholders. Notably, in 2020 we became the first Mexican compa- ny and the third in Latin America to receive Science Based Targets initiative (SBTi) approval for aligning our greenhouse gas reduction goals with the 2015 Paris Agreement. Our approach aligns with the SBTi, prioritizing emission reduction over offsetting. Moreover, we meticulously report our emissions to the Carbon Disclosure Project (CDP) in accordance with their guidelines enhancing transparency regarding our emission sources and progress to date. Greenhouse gas emissions 3,462 kton CO2e in 2023  Scope 1 17% 1%  Scope 2  Scope 3 82% 8.6% annual reduction in our CO2e emissions across the value chain in 2023. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 72 CLIMATE ACTION IN OUR OPERATIONS Reducing Scope 1 and 2 Emissions In 2023, we achieved a reduction of 29% in our Scope 1 and 2 emissions from our 2015 baseline. Scope 1 and 2 emissions, accounting for 18% of our total CO2e emissions in the year, include energy consumption in our bottling plants and distribution centers, emissions from refrigerant gases, and fuel consumption in our fleet. Leveraging Cleaner Refrigerants We actively reduce Scope 1 emissions by upgrading coolers with cleaner refrigerants at the point of sale and enhancing end-of-life gas confinement. % 0 5 % 8 2 % 9 2 Increasing Renewable Electricity and Efficiency Our advancements in Scope 2 emissions stem from strategic investments and Power Purchase Agree- ments (PPAs) in renewable sources and efficiency projects. In 2023, we began to receive renewable energy from solar sources in Uruguay. In addition to this, we invested US$3.04 million for the installa- tion of solar panels directly in 17 operating loca- tions of six countries, including Guatemala, Costa Rica, Nicaragua, Panama, Argentina and Uruguay. This new contract keeps us on track toward achiev- ing our 2030 goal of using 100% renewable energy across our operations, with a 77% rate in 2023. Furthermore, we invested US$4.6 million in 2023 to increase energy efficiency, achieving to 6.11 liters of beverage per MJ consumed, a 45% improvement from our 2015 baseline. % 0 0 1 % 7 7 % 6 6 1 1 . 6 7 9 . 5 6 6 . 5 2 . 4 2022 2023 2030 GOAL SCOPE 1 AND 2 REDUCTION Performance on our SBTi goals 2022 2023 2030 GOAL RENEWABLE ELECTRICITY CONSUMPTION 2015 2021 2022 2023 ENERGY EFFICIENCY Liters of beverage produced per MJ Our scope 2 emissions reduced by 48% OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 73 SUSTAINABLE MOBILITY Driving the Beverage Industry Fleet to Electro-mobility In pursuing our goal of providing a superior customer-cen- tric delivery process, we are also driving transformative changes across our fleet to reduce its carbon footprint. Our goal is to assert our position as the preferred commercial platform while continuing to lead in vehicle efficiency, envi- ronmental stewardship, and safety in Latin America. In October 2023, we launched an eight-month pilot pro- gram to evaluate the performance of the first electric truck designed specifically for the beverage industry, developed in collaboration with BYD. The aim is to evaluate its per- formance under varied road conditions, a crucial step in our broader strategy to convert a significant portion of our fleet to green. The electric truck was developed based on specific requirements from Coca-Cola FEMSA. It has a chassis design for the standard 14 low-bed pallets and is also suitable for configurations of 8, 10, and 12 pallets as an alternative for delivery on traditional market routes. De- signed with safety standards from both Coca-Cola FEMSA and The Coca-Cola Company, the vehicle runs on a battery with a charging time of between 1.5 and 2 hours. Our Sustainable Mobility Community is steering the compa- ny’s electric vehicle strategy, partnering with global suppli- ers and deploying tools like Total Cost of Ownership (TCO) analysis and standardized testing protocols to enhance fleet efficiency across our operations. Going forward, we will continue our efforts to transition our own fleet to elec- tric vehicles, prioritizing areas with restricted mobility. 530 electric vehicles in our fleet. Pursuing Operational Excellence In addition to expanding our electric vehicle fleet, in 2023 we continued pur- suing operational excellence by deploying robust route optimization strategies. To this end, we are leveraging the Coca-Cola FEMSA Digital Distribution Platform across Argentina, Brazil, Colombia, Central America, Mexico, and Uru- guay, and cutting-edge vehicle telemetry systems installed in our primary and secondary distribution fleet. The synergy between truck telemetry data and our advanced mobile de- livery devices empowers us to swiftly resolve deviations from the planned distribution routes, saving fuel while enhancing operational efficiency, which in turn improves customer sat- isfaction by ensuring timely deliveries. This technological integration also facilitates a detailed analysis of route execution patterns, allowing us to en- hance our route planning methodologies. For instance, the deployment of dynamic routing across our secondary distribution fleet in Brazil, Colombia, and Mexico provides us with the agility to chart vehicle routes dynam- ically on a daily, weekly, and monthly basis, optimizing our fleet resources and travel distances. This systematic approach has yielded tangible benefits—enhancing our fleet's utilization rate, elevating road safety, and curbing fuel consumption and CO2e emissions, while offering our highest standards of customer service. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 74 ENGAGING OUR VALUE CHAIN Reducing Scope 3 Emissions In 2023, we achieved a re- duction of 19% in our Scope 3 emissions from our 2015 baseline. Scope 3 emissions, which account for about 82% of our total CO2e emissions, come from our value chain, and include cold drink equip- ment operations at the point of sale, ingredient and pack- aging embodied emissions, and fuel consumption in our subcontracted fleet. % 0 2 % 9 1 % 7 1 2022 2023 2030 GOAL SCOPE 3 REDUCTION Performance on our SBTi goals Reducing Carbon Footprint at Point of Sale We are continuing to upgrade our cold drink equip- ment to higher-efficiency models that use state of the art technologies to reduce energy consumption. Since 2020, this initiative not only contributes toward our Scope 3 emission goals by reducing electricity-relat- ed emissions at the point of sale but also supports small and medium-sized enterprises by lowering their energy expenses. We collaborate closely with Im- bera, a FEMSA subsidiary, to enhance the efficiency of cooling equipment and engage in circular economy initiatives. This includes the use of plastic waste in products like Upcycool and the recovery of materi- als from decommissioned refrigerators through the EOS-REPARE program. Partnering with Suppliers We are taking further steps to reduce Scope 3 emis- sions by forming new partnerships in our value chain and enhancing supply chain management. For instance, we are integrating Scope 3 considerations into our agreements with suppliers, exploring innova- tive collaboration models to mitigate carbon emis- sions across our value chain. Among our top 25 suppliers, representing 51% of our Scope 3 emissions, 52% have established sci- ence-based targets, and an additional 12% are com- mitted and in progress to establishing targets with the Science Based Targets initiative (SBTi) to reduce their greenhouse gas emissions in alignment with global efforts. Collaborating with our suppliers is crucial in reducing our Scope 3 emissions, which constitute a significant portion of our overall carbon footprint. By engaging closely with them, we can extend our sus- tainability efforts beyond our direct operations, driving collective action towards environmental responsibility. SUSTAINABLE ENERGY ACCESS FOR SMALL BUSINESSES In 2023, we expanded in Mexico our Renewable Energy for Retailers Program (EMERGE), implemented in collaboration with a crowdfunding partner and the German Agency for International Cooperation (GIZ). EMERGE offers an innovative crowdfunding financing model to enable small retailers in our network, who often have limited access to financ- ing, to install photovoltaic solar systems on their stores. This initiative not only significantly reduces their electricity bills, which can represent up to 70% of their total monthly operational costs but also helps to low- er greenhouse gas emissions from their operations. 54 solar systems installed at small retailers, with 202 tons of CO2e avoided in 2023. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 7 5 INTEGRAL EMPLOYEE WELL-BEING We want our people to grow in tandem with our company, advance in their careers, and feel increasingly engaged, valued, and secure in voicing their ideas and concerns within our organization. Driving Our Company’s Growth As our company grows, we are transforming our approach to managing talent into a more flexible, agile, and efficient system that promotes a future-ready, people-centric, digi- tal-savvy culture. Shaping the organization of the future and developing a strong talent pipeline, the human resources function plays a pivotal role in driving our growth strategy. These efforts are supported by our innovative Human Re- sources Platform, which provides simplified, standardized, and easily accessible processes in the Cloud to significantly enhance the employee experience. The advanced digital capabilities of this platform enable us to efficiently deliver on our Employee Value Proposition, placing our people at the heart of the organization. SHARED PURPOSE We empower our employees to be protagonists in our business transformation and in driving meaningful change in our communities. INTEGRAL WELLNESS INTEGRAL WELLNESS Options for physical, emotional, and family well-being are available, supporting a balanced and healthy life in all aspects. EMPLOYEE VALUE PROPOSITION POSITIVE WORK ENVIRONMENTS POSITIVE WORK ENVIRONMENTS Our workplaces are flexible, collaborative, innovative, and trusting, fostering productivity and creativity among team members. PEOPLE-CENTERED CULTURE PEOPLE-CENTERED CULTURE Our environment is built on respect, inclusion, and collaboration, ensuring that every voice is valued and heard. CONTINUOUS LEARNING CONTINUOUS LEARNING We create pathways for holistic personal and professional growth, enabling employees to reach their full potential. Our Sustainability Framework sets our ambition for our employees’ development, holistic well-being, work flexibility, compensation and benefits, and internal diversity, equity, and inclusion objectives. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 76 OUR WORKFORCE EMPLOYEES BY CONTRIBUTION LEVEL 86,811 EMPLOYEES Strategic leaders (senior management) Tactical leaders (middle management) People leaders (junior management) 73% 27% 127 71% 29% 934 69% 31% 2,427 Individual contributors 72% 28% 27,553 Operational contributors 91% 9% 55,770 Mexico Brazil Colombia Guatemala Argentina Costa Rica Panama Nicaragua Uruguay ■ Male ■ Female BY COUNTRY 57% 28% 4% 4% 3% 2% 2% 1% 1% Mexico Brazil Colombia Guatemala Argentina Costa Rica Panama Nicaragua Uruguay Venezuela Other BY NATIONALITY 56% 27% 4% 4% 3% 1% 1% 1% 1% <1% <1% NATIONALITY IN MANAGEMENT POSITIONS 58% 21% 8% 2% 5% 2% <1% <1% 1% 2% 1% Employees by gender  Male 84%  Female 16% Employees by age group  < 30  30-39  40-49  50-59  >60 34% 37% 21% 8% 1%     OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 77 HUMAN CAPITAL DEVELOPMENT Committed to Best-in-Class Training Developing our company's human capital is vital for our growth strategy, as it not only enhances individual competencies but also drives innovation, productivity, and long-term sustainable success. Recognizing that effective career development benefits from having the right tools, we continue to tailor our training agenda to match the specific knowledge levels required at each contribution level. Moreover, we provide targeted training formats, customizing both the content and duration of the programs, to guarantee an opti- mal learning experience through a mix of synchronous, asynchronous, digital, and in-person configurations. Average training hours by gender, age group, and level of contribution Male Female 18-29 30 - 50 51+ Strategic leaders Tactical leaders People leaders Individual contributors Operational contributors 24 29 30 24 16 24 33 39 30 17 As part of our efforts, we also have set ambitions to maintain our training hours at leading standards, ensuring equal access for all employees no matter their level of contribution or gender. In 2023, we provided our workforce with an average of 25 hours of training. We aim to enhance professional growth opportunities for our employees to fulfill their individual career aspirations and become the true protagonists of their own careers. 25 HOURS of training per employee provided in 2023. Steering Sustainable Growth We are constantly deploying training and employee experience initiatives that are directly designed to support our company’s strategic priorities. Our focus on these areas, allow us to enhance our team's skills while also ensuring that our workforce is fully equipped, aligned, and motivated to drive our sustainable growth. Commercial Excellence Digital and Agile Innovation Sustainable Future Our Commercial Academy focus- es on the behavioral evaluation of commercial roles and defining the key competencies necessary to drive the sales force’s transforma- tion. This involves a comprehensive assessment of how sales personnel adapt to changing market dynamics and the cultivation of skills that align with our evolving sales strategies. In 2023, we launched our Digital and Agile Innovation Academy, dedicated to exploring cut- ting-edge digital technologies and their agile practical applications within our organization. With contents specifically designed to meet the unique needs of each contribution level, the Academy achieved a 70% participation rate from our target group, reflecting a strong engagement and enthu- siasm for digital advancement across the company. Aiming to transform our company into a global sustainability leader, we provide top-level management with training on our Sustainabil- ity Framework and have created specialized training programs for different functional areas. These programs emphasize a deeper un- derstanding of environment, social and governance concepts and align with our overarching goals. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 78 DEVELOPING A ROBUST PIPELINE OF TALENT Recognizing the wealth of talent across our company, we constantly reinvent ourselves and mobilize the entire organization to unleash its full potential. In doing so, we effectively man- age, attract, develop, and inspire our people, thereby preparing today's workforce to become tomorrow's leaders. Early Career Programs: We designed an um- brella of early career programs, including col- lege scholarships, internship programs, and our new trainees’ talent program to increase talent injection and to prepare future generations of talent. Moreover, we also continuously improve our employer brand to attract the best talent. Internal Mobility: We understand that profes- sional growth is driven by opportunities to gain new experiences. To this end, we are committed to expanding the availability of internal career mobility opportunities across different func- tions, countries, and business units. In 2023, 64 of our employees embraced new interna- tional challenges by assuming roles in different geographic locations across our operations Talent Management Processes: Our talent management processes contribute to developing our leadership team through comprehensive as- sessment programs. For instance, in 2023, 79% of our tactical and strategic leaders participated in our annual 9-Box Talent Assessment, which is instrumental in assessing performance, enabling us to identify key talents. Performance Evaluation: Performance man- agement at Coca-Cola FEMSA is a system that aligns strategic objectives with development metrics to fulfill the company’s vision. It aims to link operational results with organizational goals through a model that includes defining Critical Success Factors, conducting periodic reviews, self-assessments, and end-of-cycle evaluations. The process involves a definition stage, feedback, and a final performance review. This streamlined approach ensures continuous alignment between individual contributions and company goals, fostering a culture of growth and achievement, emphasizing each employee's value generation and their contribution to our business strategy. In the annual performance evaluation process, not only is the achievement of business objectives considered, but also the manner in which they were achieved is assessed through the evaluation of behaviors and values aligned with the Coca-Cola FEMSA Principles. This year, 98% of our employees underwent performance evaluations. SENIOR LEADERSHIP TEAM SUCCESSION Our well-established succession planning process is designed to efficiently mobilize internal talent, as well as to identify key talent from other FEMSA business units and the broader market when needed. This approach is pivotal in maintaining seamless operational continuity across all levels of leadership. In 2023, we successfully completed a smooth transition of key senior management roles leveraging our robust internal talent pool, including our CEO and 63% of our senior leadership team members. This successful transition is a testament to our proactive and strategic approach to leadership development and stability. Committed to fostering employee development: 93% of director-level roles were filled internally in 2023, plus, an additional 4% of director-level hires from other FEMSA units. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 79 SAFETY AND HEALTH COMMITMENT A Strong Safety Culture: Zero Is Possible Integral to our growth ambitions and organizational strategy, our guiding safety vision Zero Is Possible is founded on the belief that nothing is more important than the safety and well-being of our people. This vision empowers our leaders to advance safety as a core company value, recognizing the crucial role every employee plays in maintaining both physical and psychological safety. Our Safety 0.0 Strategy aims to build the essential capabilities and processes required to materialize our vision. The strategy encompasses five pillars, underpinned by 20 actions directly linked to our core activities. Additionally, we have identified sev- en key initiatives vital for upholding our safety commitments. Coca-Cola FEMSA Safety 0.0 Strategy We have defined 5 Pillars and 20 actions to elevate, accelerate the performance, and continue enabling our safety strategy. Cultural and Leadership Transformation Risk Management, Process, And Systems Capability and Talent Development Infrastructure and Technology; Processes Digitalization Performance Management Improvement and Innovation Communication strategy. Serious injuries and fatalities program evolution. Safety expert’s development. Technology in RTM. Roles, responsibilities, safety accountability, and unbreakable rules. Compliance and commitment with standards and lifesaving rules. Safety culture plan with focus on beliefs and behaviors transformation. Be focused on 3rd party management, safety RTM, and ergonomics. Organizational structure reinforcement. Safety machinery lock out and tag out for maintenance. QSE Academy. Safety digital strategy. Safety lead indicators in operating models. Bottom-up evolution. Model of behaviors, recognitions, consequences, and best practices. Evolve to a congruent leadership through psychological safety and human and organizational performance philosophy. Management system, operational models, and safety audit model E2E. Simulators. Ensure infrastructure in machinery and equipment. Safety and health within the Sustainability Framework. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 80 Safety and Health Management System In 2023, we continued certifying our Safety and Health Management System in manufacturing plants accord- ing to the ISO 45001 standard. To date, 88% of our operations have been certified. The remaining sites, recently incorporated into our operations, are in the process of certification during 2024. Our ISO 45001 standardized Health and Safety Man- agement System enables us to: • Conduct risk and hazard assessments to identify potential harm in the workplace. • Prioritize and integrate action plans with quantified targets to mitigate those risks. • Incorporate measures to prepare for and respond to emergency situations. • Evaluate progress in reducing or preventing health issues and risks against set targets. • Perform internal inspections. • Establish procedures for investigating work-related injuries, illnesses, diseases, and incidents. Additionally, we continue to implement internal performance audits on our Safety and Health Management System, focusing on compliance, safety and strategy-based management, and aspects of culture and leadership. These audits are complemented by third-party audits conducted by FEMSA and The Coca-Cola Company. Safety and Health Policy Our Safety and Health Policy is the foundation of our Safety and Health Management System and sets out clear expectations to take the necessary actions to pre- vent and mitigate risks, injuries and/or work-related ill- nesses, promoting and encouraging the safety, health, and well-being of our employees, strategic partners, and the communities where we operate and interact. The Policy is centered on fostering a culture of self- care, prevention, improvement, and overall well-being among employees by ensuring safe working conditions, facilities, and processes through our Management Sys- tem. It involves engaging employees in open, proac- tive, and transparent dialogue. Our approach includes managing incidents to prevent risks, injuries, and occu- pational diseases, incorporating risk assessments and best practices into new projects, and setting objectives and performance indicators. The Policy emphasizes developing employee skills for safe and healthy work practices and encourages participation and account- ability. Additionally, it establishes strategic initiatives to sustainably manage risks and opportunities, continu- ously evaluating and enhancing our processes to adapt to changing contexts and stakeholder needs. → See our Safety and Health Policy OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 81 7 7 . 1 6 0 . 3 Focus on Zero Incidents In 2023, we implemented stricter controls for recording incidents, leading to a more accurate and comprehensive understanding of accident frequencies. This enhanced visibility, while initially reflecting an increase in recorded incident rates, has empowered us to address the root causes of accidents more effectively and in alignment with our core values. We remain dedicated to refining our safety strategies, leveraging these insights to return to the positive trend of previous years. Our goal is to achieve a Lost Time Incident Rate of 0.4 and a Total Inci- dent Rate of 0.8 by 20271. This commitment underscores our goal of achieving zero incidents across all operations, emphasizing our dedication to maintaining the highest safety standards. To achieve our goal, we are strengthening a mix of legacy programs, pioneering initiatives, thorough risk mitigation efforts, comprehensive training, insights from leading indicators, and advanced technologies. Robust foundations: In our continued efforts to reduce serious incidents, we persistently deploy our 14 Life Saving Rules. To ensure their effectiveness, each operat- ing unit in manufacturing, warehousing, distribution, and sales conducts a quarterly review of their action plan's progress. In 2023, all units completed this self-assess- ment, reaching an implementation rate of 84% in manu- facturing plants and 72% in distribution centers. 1. In 2023, after discussions with management, we adjusted our occupational health and safety targets from 2025 to 2027 due to discrepancies in incident classification criteria in Mexico and Colombia, affecting our indicator calculations. Innovative approach to incident prevention: Our com- mitment to safety is further reinforced by the ongoing implementation of our Incident Management Process. This process distinctly categorizes incidents into four levels based on their risk consequence and probability. As of now, all our operations have successfully adopted and are implementing this new standard in managing and preventing serious and potentially serious incidents. Recurrent risks mitigation: We continued to deploy our two-year initiative focused on the audits and maintenance of active and passive safety infrastructure. This US$20 million investment program is designed to mitigate two recurrent risks in our manufacturing operations: machin- ery intervention and hazardous energy management. Continuous training: As part of our ongoing commitment to workforce training, in 2023 we successfully started the roll-out across our operations of the new six safety mod- ules for our QSE Academy and 20 modules for our RTM Academy. These programs have significantly enhanced our employees' safety awareness and skills, contributing to a more informed and safer working environment. The widespread adoption of these modules across different regions has also facilitated a unified approach to safety standards within the company. 6 6 . 0 1 6 . 0 8 8 . 0 4 . 0 2016 2023 2022 2021 2027 GOAL LOST TIME INCIDENT RATE Cases per 200,000 worked hours 6 . 1 6 0 . 1 9 . 0 2016 2021 2022 2023 8 . 0 2027 GOAL TOTAL INCIDENT RATE Cases per 200,000 worked hours 240,694 HOURS dedicated to health and safety training in 2023, underscoring our commitment to raising awareness and competences among our employees in these essential areas. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 82 Road Safety Our dedication to road safety strengthens as we continue to grow and travel every year more than 9,000 times around the Earth's circumference to deliver our products. In 2023, our vehicle crash rate remained practical- ly unchanged compared to the previous year and our major crash rate was reduced by 26%. Re- grettably, in the past year eight individuals, either employees of Coca-Cola FEMSA, contractors, or community members, lost their lives in incidents involving our operations or vehicles. We extend our deepest condolences to the families and everyone affected by these events. We view any fatality as unacceptable, and are intent on achieving our goal of zero incidents. We are constantly seeking and adopting best prac- tices to enhance road safety. Moreover, we proac- tively share our expertise with external entities, such as companies, governments, and non-govern- mental organizations, to facilitate broader imple- mentation of these practices, benefiting both our communities and beyond. New leading indicators: We have broadened our metrics to include leading indicators for Serious and Potentially Serious Incidents, which are now part of our performance tables. These indicators aid in risk detection and the management of mitigation strategies. Furthermore, our Behavior- Based Safety program is connected to these metrics, encouraging employees to actively contribute to their reduction organization-wide. Reinforcing safe behaviors: The main goal of our RTM 0.0 initiative is to train expert drivers with behaviors needed to prevent incidents in our route-to-market processes, distribution, and logistics operations. To strengthen our employees' and third parties' safety skills, we consistently invest in enhanced risk management initiatives and advanced equipment such as road simulators, telemetry systems, monitoring devices, and vehicle safety infrastructure. We also prioritize vehicle safety while developing processes, infrastructure, and work environments that help our workforce manage daily risks effectively. Leveraging cutting-edge technology: We have be- come one of the private companies with the largest capacity for simulation training and a benchmark for safety simulation in our industry. In the past two years, we invested over US$2.2 million in road simulators, with 12 now operational in Argentina, Brazil, Costa Rica, Guatemala, Mexico, and Uru- guay. They replicate handling heavy vehicles in our primary and secondary fleet, as well as other motorized vehicles. Road simulators are a key tool in our capabilities’ development strategy across our operations and our ongoing investment under- scores our commitment to enhancing safety and operational efficiency. 5 2 . 7 5 0 . 7 5 . 6 2023 2022 2027 GOAL CRASH RATE crashes x 100/total fleet 1 6 . 0 5 . 0 5 4 . 0 2022 2023 2027 GOAL MAJOR CRASH RATE major crashes x 100/total fleet OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 83 EMPLOYEE WELL-BEING New Comprehensive Well-being Model At Coca-Cola FEMSA, we seek to enhance our employees’ physical and psycho-emotional health, and foster engagement and a sense of belonging within the organization for an im- proved work environment. We want to foster a culture of well-being based on a holistic view of self-care and prevention. Building on a 30-year legacy of prioritizing em- ployee welfare, in 2023 we introduced a new Comprehensive Well-being Model, further align- ing with our holistic approach to enhancing the quality of life of our people. This model is inno- vatively structured around five bio-psychosocial dimensions, each targeting different yet intercon- nected aspects of well-being: Healthy Body: We develop healthy habits that contribute to physical fi tness, prevention and reduction of diseases. Healthy Body Psychological Well-being: We foster the psychological well-being of employees so that they can experience a satisfying and purposeful life. Social Connections: We facilitate the development of meaningful interpersonal relationships that promote family and employee integration, as well as citizen participation to improve the community and the environment. Social Connections Psychological Well-being Financial Well-being: We promote fi nancial education to generate a culture of savings that protects and builds personal and family assets. Financial Well-being Professional Life Professional Life: We promote commitment and excellence at work within a positive, inclusive, constructive, healthy and safe environment. TAILORING PROGRAMS TO MEET DIVERSE NEEDS AND EXPAND REACH We use feedback from our biennial employee engagement survey to tailor and enhance our well-being offerings. Our engagement survey includes questions covering aspects such as purpose, satisfaction, well-being, and questions aimed at measuring positive and negative feelings. In 2023, we achieved a 93% participation and 89% engagement levels in the survey, highlighting five key areas: quality and customer orientation, clear and promising path, sustainability, ethics, and psychological safety. Throughout the year, we diligently analyzed the results by country and department, formulating targeted action plans to address any gaps. Moving forward, our goal is not only to sustain high engagement levels in the next survey but also to make strides in improving the areas identified, ensuring we meet evolving needs and preferences and gradually expand our well-being offerings to include a wider portion of our workforce across geographies, functional areas, and levels. 89% level achieved in our biennial employee engagement survey. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 84 Robust Occupational Health and Well- being Management System Our Occupational Health and Well-being Management System outlines the strat- egy we use to enhance work life quality for employees at all our company's work centers and strategic business units. This comprehensive system includes health and well-being processes and programs, which we adapt based on relevant risk matrices, local legislation, and operational requirements. Our Corporate Occupation- al Health team is tasked with regularly up- dating our Global Safety and Occupational Health Policy and Human Rights Policy. The revisions are approved by our Labor and Social Development Director and Director of Human Resources. Addition- ally, our internal audit team checks these policies to ensure they are effectively shared and implemented throughout our operations. Conscious Leadership Program In 2023, over 6,000 leaders across our operations participated in our Conscious Leadership Program, designed to broaden the understanding of health beyond the physical to a holistic perspective that in- cludes physical health, emotional welfare, and spiritual self-development. Employee Support Program We want to offer our employees support when they need it the most. Our Employee Support Program offers emotional sup- port to our employees and their families, helping them manage stress, anxiety, de- pression, and other emotional challenges. This program is a key component of our Comprehensive Well-being Model, aimed at reducing psychosocial risk factors both in and out of the workplace through our Management System and via counseling from health professionals specifically trained in addressing our employees' diverse needs. 27% Reduction in Lost Days 5 4 5 4 3 5 8 6 4 0 4 3 2020 2021 2022 2023 GENERAL ILLNESS INDEX Lost days per 100 employees We monitor absenteeism rates in our workforce as a crucial indicator of our employees' physical and mental health. In 2023, we saw a 27% improvement in our Lost Days Due to General Illness Index compared to 2022. This progress was primarily driven by our global disease prevention strategy, epidemiologic surveillance systems, local health programs, and comprehensive well-being activities. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 85 Empowering our Workforce Through Meaningful Volunteer Initiatives Our company’s commitment to well-being extends to help- ing employees lead meaningful lives. We continuously invest in providing our people and their families with opportunities to participate in volunteer initiatives, allowing them to make a significant environmental and social impact beyond their everyday job functions. The Coca-Cola FEMSA Volunteers program champions initia- tives that positively influence the quality of life and well-be- ing of the communities in which we operate, simultaneously strengthening our bonds with these communities and enhanc- ing our corporate position and reputation. Coca-Cola FEMSA’s Volunteers program champions six different causes Community Development We unite in collective action, working together to find solutions to common challenges. Our goal is to take part in the development of stronger and more thriving communities. Environment We are focused on environmental stewardship, especially on issues such as water, energy, carbon emissions, waterway cleanups, and reforestation. Natural Disasters We engage in prevention activities to raise awareness, as well as in solidarity efforts in the event of natural disasters, with a particular focus on the communities where we operate. Health Education We undertake activities that promote healthy physical and biopsychosocial lifestyles, as well as initiatives related to humanitarian aid. Our activities aim to improve educational levels and promote cultural, creative, and technological development. Human Rights We seek to generate positive volunteer experiences based on respect and compliance with Fundamental Human Rights. OUR VOLUNTEER PROGRAM DURING 2023: 2,181 volunteer initiatives 129,388 volunteers, including employees and their families US$ 1.5 million invested 302,531 hours OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 86 Compensation and Benefits We act in accordance with obligations defined by law and in full respect of labor rights, exceeding the conditions and benefits established in the laws of each country where we operate. Moreover, we strive to offer competitive remuneration for all employees. Based on studies performed by international consulting firms, we can determine that our employees are receiving an integrated salary that is equal to or greater than the market average. We respect our people’s right of union association and, as such, our collec- tive agreements cover approximately 65.8% of employees. These em- ployment contracts are reviewed and agreed upon with our union representatives, respecting the established validation periods, as well as complying with all notifica- tion deadlines. Flexibility at Work Recognizing that work flexibility is highly important to many of our employees, we have formally declared ourselves a hybrid company, empowering our leaders to hold discussions with their teams to determine the most suitable model for each. Benefits include flexible hours, home office options for administrative positions and other roles where the function allows, lactation rooms to support breastfeeding at work, and parental leave schemes tailored to our employees' interests and compliant with each country's regulations. Effective flexibility programs can enhance workforce pro- ductivity, wellness, and our diversity, equity, and inclusion efforts, while also improving our standing in the talent market. Going forward, we aim to set clear goals regarding flexibility, considering the needs of our administrative staff and assessing the potential to extend flexible work options to our frontline employees over the medium term. Our goal is to empower our employees with greater control over every stage of their work experience. 100% of our employees return to work after parental leave. 98.8% of women and 93.9% of men continue working at Coca-Cola FEMSA 12 months after parental leave. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 87 DIVERSITY, EQUITY, AND INCLUSION Including All in Our Company's Growth Diversity, Equity, and Inclusion (DEI) is an integral, cross-cutting topic in our Sustainability Framework, reflect- ing its importance in all areas of our operations and commu- nity relations. As a company, we aspire to be preferred by diverse talent for our commitment to fostering and support- ing all our employees. As our company grows, we are identifying underrepresented groups within our operations, aiming to broaden our talent recruitment to be inclusive of everyone. Our efforts are tai- lored to align with the unique needs of each country where we operate, ensuring that we support and foster all our employees effectively. In Brazil, Colombia, Guatemala, and Mexico, we have focused efforts on actively recruiting people with disabili- ties, while in other countries, we are enhancing workplace accessibility and inclusion. We are promoting the inclusion of LGBTQ+ communities through ally pledges, affinity groups, and awareness programs. For the fifth consecutive year, the Human Rights Campaign Foundation and HRC Equidad MX recognized our company as one of the Best LGBTQ+ Places to Work in Mexico. Going forward, we are committed to attracting, developing, and retaining a diverse workforce, including individuals from indigenous or Afro-descendant backgrounds, refugees, as well as older adults, and people from ethnic and economi- cally vulnerable groups. Embracing DEI in our Talent, Leadership, and Workplace Flexibility Diverse Talent Inclusive Leadership Flexible Environment We are dedicated to creating a diverse, equitable, inclusive, and respectful workplace for all. Our priority is to foster safe spaces for our employees to engage in meaningful dialogue, ensuring all voices are heard and respected. These efforts embody our commitment to a workforce as diverse and vibrant as the communi- ties we serve. Our Inclusive Leadership training is designed to ignite leaders’ roles as champions for diversity, equity, and inclusion. Among other topics, we prioritize identifying and addressing unconscious biases in leadership and recruitment as well as raising aware- ness and prompting action on social issues that affect our communities. Fostering a flexible and agile envi- ronment, we adapt to local needs by designing and implementing adapt- able processes and practices, includ- ing parental and FlexKOF models. We strengthen and benchmark our efforts by participating in global initiatives like the Bloomberg Gender-Equality Index, UN Women, and McKinsey’s Women Matter. OUR DEI ADVISORY BOARD PLAYS A CRUCIAL ROLE IN SHAPING AND IMPLEMENTING FIVE STRATEGIC GOALS: 1. Engage and hold leaders accountable throughout the organization. 2. Define both long- and short-term objectives and strategies. 3. Ensure functionality of work teams at a country and regional level. 4. Ensure deployment of an internal and external communication plan. 5. Measure, monitor, and evaluate initiatives. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 88 Increasing Female Talent Across Our Company Considering the industry's gender gap, we are sustain- ably enhancing the representation and inclusion of female talent in our company, empowering women to assume key leadership roles and taking actions to at- tract, develop, and retain women in front-line positions. In 2023, more than 2,000 women joined Coca-Cola FEMSA, as a result, the representation of women across our organization increased from 14% to 16%. Our operations are actively developing and deploying initiatives to increase and support female talent. For instance, Brazil continued its program to train women to operate forklifts, perform refrigeration maintenance, and join our distribution centers. In Guatemala, we set up the first all-female production line. We also have and continue establishing support actions and employee-resource groups through our operations. Moreover, we increased the representation of women in leadership positions to 29% in 2023; and we have a robust plan to achieve our ambition of 40% of women in leadership and management positions by 2030. AS A SIGNATORY OF THE UN WOMEN'S EMPOWERMENT PRINCIPLES, WE ARE COMMITTED TO UPHOLDING ITS SEVEN PRINCIPLES ACROSS OUR OPERATIONS. Equal Remuneration We strive to offer competitive remuneration for all employees and equal pay conditions for both men and women at all levels of our organization. Our compensa- tion policies and practices consider a variety of factors for each role, such as experience and performance, without gender bias. In 2023, we refined our methodology for calculat- ing the gender pay gap across different levels of the organization, aligning with methodologies from the GRI Standards and the United Nations Global Com- pact. The findings revealed a 2.8% gender pay gap in men salaries compared to women. This analysis was performed by calculating the average salaries for all employees, categorized by male or female, excluding employees under collective contracts due to their compensation structures. 29% Women in management positions. 13% Women in STEM-related positions. 12% Women in management positions in revenue- generating functions. STEM: science, technology, engineering and math. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 89 COMMUNITY DEVELOPMENT Across our operations, we leverage our footprint to boost sustainable growth that benefits our company as well as our neighboring communities and value chain. In 2023, we positively influenced the quality of life and economic development of over 359 thousand people through dedicated local community programs. Driving Change: Coca-Cola FEMSA's Community Engagement At Coca-Cola FEMSA, we aim to serve as catalysts for positive change in the communities in which we operate, beginning with those closest to us. Recognizing our inte- gral role within these communities, we understand that our business prosperity and longevity are intricately tied to our capacity to collaborate with our neighbors. By actively engaging with local stakeholders, we not only develop mu- tually beneficial relationships but also seize opportunities to join forces, thereby fostering sustainable solutions that address prevalent challenges and promote shared pros- perity within our environment. By 2030, we aim to have at least one Community Engage- ment Plan per site based on our MARRCO methodology. These engagement plans encompass prioritized activities aimed at addressing community needs and ensuring busi- ness continuity. We particularly focus on facilitating access to water, sanitation, and hygiene (WASH) in our neighboring communities and empowering social and economic devel- opment by supporting underrepresented groups, offering entrepreneurial skills, and investing in sustainable commu- nity development, in accordance with our →Sustainability Bonds Framework. Our Model for Addressing Risks and Relations with Our Community (MARRCO), guides us in establishing and managing long-term productive relations with our neighbor communities that create shared value, with an objective focused on: • Evaluating the impact of our operations on communities. • Understanding local circumstances that could affect our operations. • Identifying collaborative opportunities for environmental enhancement. → Visit page 65 to learn more about our ongoing community WASH initiatives. Coca-Cola FEMSA’s Model for Addressing Risks and Relations with Our Community Identify and understand 1 Learn and improve 5 orati o b a l l o C • n • Com m i t m e n t • Dialo t s gue • Tru 2 Analyze and plan 4 Evaluate and measures 3 Agree and act OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 90 STRENGTHENING OUR VALUE CHAIN AND COMMUNITY TIES We enjoy tremendous opportunities to col- laborate with suppliers, customers, and other stakeholders to make our robust value chain more sustainable. We are particularly committed to building strong ties with key partners in our communities, including small local businesses, medium-sized suppliers, and PET collectors, helping to improve living standards and maxi- mize our positive contribution on our neighbor- ing communities. Engaging Our Small and Medium Suppliers In line with our Supply Chain Management ambitions, we are focused on enhancing our partnerships with small and medium enterprises (SMEs) in our supplier base. Our procurement and corporate social responsibility teams are proactively engaging with these SME suppliers to explore collaborative approaches that not only drive socioeconomic development but also align with our environmental objectives. Our Commitment to Local Businesses Small local businesses are the heartbeat of our large and expanding commercial network—they are more than 1.9 million retailers and shop- keepers that distribute our products to consum- ers across our traditional sales channel. Among this number, there is a large percentage of wom- en shopkeepers and individuals from diverse backgrounds. We proactively collaborate with small local busi- nesses in our regions to customize programs that contribute to their success. These initiatives in- clude delivering business management training, fostering financial and digital inclusion, empow- ering business owners, and creating networking opportunities. Furthermore, we acknowledge that our vast small local business network can have an enormous impact on our sustainability goals. To this end, we aim to align our collabo- rative efforts with our company’s priority topics, such as diversity, equity, and inclusion, and water efficiency, PET collection, and efficient and re- newable energy sourcing. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 91 EMPOWERING WOMEN ENTREPRENEURS We are committed to empowering women entrepreneurs and business owners across our operations, our programs collectively underscore our dedication to fostering the suc- cess of women-led businesses in our region. In Brazil, the Empreenda como Uma Mulher program has transformed the lives of over 600 women, equipping them with extensive technical training, essential entrepreneurship tools, and advanced business management skills. This ini- tiative has substantially boosted their entrepreneurial skills, enabling them to achieve remarkable success and growth in their ventures. In Colombia, the Emprendamos Juntos initiative stands as a holistic program designed for shopkeepers, café owners, and small business entrepreneurs within our value chain. Over 4.800 participants have received essential knowledge and resources for self-empowerment, entrepreneurship, and business management, fostering the growth of their ventures and personal goals. In Costa Rica and Nicaragua, the MujeresON program supports female owners of restaurants and cafeterias in metropolitan areas. The program's collaborative approach has tailored personalized support in financing, training, point of sale management, and leadership empowerment for over 133 participants, providing targeted and impactful enhance- ment of both business and personal growth. In Venezuela, the Women's Empowerment Network pro- gram is designed to enhance the personal capabilities and management skills of female small grocery store entrepre- neurs. By focusing on these key areas, the program aims to contribute to their personal and economic empowerment, fostering an environment where women can thrive. In Mexico, in collaboration with The Coca-Cola Foundation, we initiated the Empoderamiento de mujeres y pequeños negocios program, aimed at fostering the social, economic, and digital empowerment of women and enhancing their small businesses. Since its inception in 2021, this program has positively affected the lives of 18,000 women across the country, equipping them with skills needed for personal and professional success. In Guatemala, we are advancing multiple initiatives to em- power women and indigenous communities, integrating en- trepreneurship and education into a cohesive support frame- work. Alongside, the Casa Productiva program is dedicated to supporting indigenous girls and adolescents by enabling them to create family orchards, supplemented with informa- tion on nutrition and healthy lifestyles. Complementing these efforts, the Jovenes Pioneras program awards university scholarships to indigenous women, offering them a pathway to realize their full potential, with the added opportunity to apply for an internship within Coca-Cola FEMSA, ensuring a comprehensive approach to community development. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 92 MY KOF COMMUNITY For Coca-Cola FEMSA, achieving sustainable growth goes hand in hand with fostering sustainable development in the communities where we operate. My KOF Community is our cornerstone community engagement pillar within our Sustainable Future Framework, reflecting our commitment to meaningful and impactful interactions with the communities where we operate. To this end, we actively engage with our neighboring communities across our regions to deeply understand their unique social conditions and tailor programs that meet specific local needs. In 2023, over 359 thousand people benefited through our com- munity programs and donations contributing to quality of life improvements and socioeconomic development across our com- munities of operation. → Visit page 65 to learn more about our ongoing community WASH initiatives. → Visit page 69 to learn more about our ongoing community PET Collection initiatives. Rehabilitation of a sports facility in Morelia, Mexico, undertaken through a collaborative effort with Fundación Placemaking México. Rehabilitation of a community park in Neza, Mexico. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 93 OUR COMMITMENT TO REBUILDING AFTER HURRICANE OTIS In the aftermath of Hurricane Otis, we have reaffirmed our role as a key part of the Acapulco community by dedicating ourselves to supporting recovery and fostering long-term resilience. Working closely with government agencies and community organizations, we are contributing to the local community's recovery efforts. Additionally, we have taken the lead in rebuild- ing Coca-Cola FEMSA's infrastructure. These collective efforts are essential for paving the way toward a stron- ger, more resilient Acapulco. In response to the urgent need for clean water follow- ing the devastation caused by Otis in Acapulco, we swiftly acted, providing over 120,000 liters of bottled water to the affected communities. Recognizing the di- saster's magnitude, we coordinated efforts to enhance recovery, deploying two VenXAgua Water Treatment Vehicles capable of purifying 48,000 liters of water daily. This initiative enabled residents to refill jugs for safe drinking water and food preparation, proving vital in quickly addressing the clean water challenge in the most impacted areas. Beyond water, we also distributed essential groceries and hygiene kits to support the well-being of our em- ployees and the wider community. Highlighting the power of collaboration, this endeavor was amplified through the support of other FEMSA business units, enhancing our collective impact and reinforcing the significance of synergies and alliances in our relief efforts. Looking to the future, we are investing Ps. 575 million in rebuilding our facilities in Acapulco and supporting the community, a key step in reactivating the local economy and safeguarding jobs for over 1,500 of our employees. This investment is not only pivotal for the immediate recovery of local small businesses but also central to our long-term commitment of fostering eco- nomic, social, and environmental value in the commu- nities where we operate. This crisis has only strength- ened our commitment. Through our VenXAgua Water Treatment Vehicles, we can swiftly respond to natural disasters, ensuring communities in Mexico and Colombia have access to clean water. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 94 CORPORATE GOVERNANCE Underpinning the growth at Coca-Cola FEMSA is a strong corporate governance framework that promotes accountability, transparency, and ethical and sustainable business practices across all levels of the organization. Robust Corporate Governance Framework A cornerstone of Coca-Cola FEMSA’s business success is our robust corporate governance framework; it fosters and promotes ethical business practices in our actions, de- cisions, and strategies, all of which are aligned to deliver value to our stakeholders. Our practices adhere to all ap- plicable legislation, standards, and policies in the countries where we are present and in the financial markets where we are listed: The Mexican Securities Market Law (Ley de Mercados de Valores Mexicana), of the Mexican Stock Exchange, and; the US Sarbanes-Oxley Act, of the New York Stock Exchange. Advancing Our Sustainability Goals Supported by our Board of Directors and Executive Team At Coca-Cola FEMSA, we understand the importance of good corporate governance in realizing our environmental and social goals. Our framework aligns our actions with our sustainability commitments, seamlessly integrating environmental and social considerations into business decisions. This approach extends beyond managing risks; it involves actively seizing opportunities for growth that not only benefit our company but also positively impact the broader society. This commitment to good corporate gov- ernance helps us navigate the complexities of the modern business environment, ensuring that we remain a responsi- ble, ethical, and forward-thinking leader in our industry. By prioritizing good governance, we are reinforcing our com- mitment to long-term sustainable growth. Our Board of Directors, alongside its Committees, plays a proactive role in overseeing environmental, social, and gov- ernance aspects. They give thoughtful attention to the sus- tainability material topics that impact not only our opera- tions but also our employees, clients, and the communities we serve. This careful consideration ensures these topics are effectively integrated into our Sustainability Framework. Moreover, our Board of Directors’ oversight extends to the review and approval of the Company’s sustainability-re- lated policies, ensuring they align with our core values and strategic objectives. Furthermore, the Executive Team leads and is responsible for advancing sustainability material issues across the com- pany. Among other topics the Executive Team performance evaluation program includes Critical Success Factors re- lated to achieving our sustainability goals in topics such as water efficiency, recycled resin usage, community support, occupational health and safety, sustainability culture, and diversity and inclusion metrics. To promote interdisciplin- ary efforts towards sustainability within the organization, members from the Executive Team, including our CEO and Strategic Leadership Team, are part of our internal Sus- tainability Committee and also take part in FEMSA’s and The Coca Cola Company’s Sustainability Committees. Their involvement is aimed at advancing our sustainability goals and establishing clear accountability across areas relevant to our sustainability initiatives. → For information about our Executive Officers’ sustainability-linked experience and compensation program visit page 100. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 95 BOARD COMPOSITION Directors: Independent Directors*: Other Non-executive Directors: Executive Directors: 16 8 8 0 BOARD OF DIRECTORS DIRECTORS APPOINTE D BY SERIES A SHAREHOLDERS José Antonio Fernández Carbajal Chairman of the Board of FEMSA and Chief Executive Officer of FEMSA 31 Years as a Board Member José Henrique Cutrale Director of Sucocítrico Cutrale Ltda. Alternate: Graziela Cutrale 2 Years as a Board Member Javier Gerardo Astaburuaga Sanjines Independent Consultant Alternate: Martin Felipe Arias Yaniz Luis Alfonso Nicolau Gutiérrez* Partner at Ritch, Mueller, Heather y Nicolau, S.C. 6 Years as a Board Member Federico José Reyes García Independent Consultant 31 Years as a Board Member Francisco Zambrano Rodríguez* Independent Consultant 21 Years as a Board Member Ricardo Guajardo Touché* Independent Consultant Alternate: Alfonso González Migoya 31 Years as a Board Member Luis Rubio Freidberg* Chairman of México Evalúa Centro de Análisis de Políticas Públicas, A.C. 7 Years as a Board Member Enrique F. Senior Hernández* Managing Director of Allen & Company, LLC 20 Years as a Board Member DI RECTORS APPOINTE D BY SERIES D SHAREHOLDERS DIRECTORS APPOINTE D BY SERIES L SHAREHOLDERS John Murphy President and Chief Financial Officer of The Coca-Cola Company Alternate: Stacy Lynn Apter 5 Years as a Board Member José Octavio Reyes Lagunes Retired Alternate: Enrique Rapetti 8 Years as a Board Member Nikos Koumettis President of Europe Operating Unit of The Coca-Cola Company Alternate: Erin L. May 2 Years as a Board Member Jennifer K. Mann Corporate Senior Vice President and President of North America for The Coca-Cola Company Alternate: Félix Poh 1 Year as a Board Member Victor Alberto Tiburcio Celorio* Independent Consultant 5 Years as a Board Member Olga González Aponte* Chairman and General Director of Wild Fork US Alternate: Jaime A. El Koury Amy Eschliman* Digital Director of Crate & Barrel Holdings, Inc. 1 Year as a Board Member SECRE TARY OF THE BOARD (NON-MEMBER) Alejandro Gil Ortiz Secretary of the Board Alternate: Carlos Luis Díaz Sáenz 2 Years as a Secretary * Independent Director OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 96 BOARD COMMITTEES Planning and Finance Committee • Ricardo Guajardo Touché, Chair- Audit Committee • Victor Alberto Tiburcio Celorio, man • Federico Reyes García • John Murphy • Amy Eschliman • Enrique F. Senior Hernández • Martin Felipe Arias Yaniz The Planning and Finance Commit- tee works with management to set our annual and long-term strategic and financial plans and monitors adherence to these plans. It is responsible for setting our optimal capital structure and recommends the appropriate level of borrowing, as well as the issuance of securities. Financial risk management is anoth- er responsibility of the Planning and Finance Committee. Chairman • Olga González Aponte • Alfonso González Migoya • Francisco Zambrano Rodríguez The Audit Committee is responsible for reviewing the accuracy and in- tegrity of financial statements in ac- cordance with accounting, internal control, and auditing requirements. It is directly responsible for the ap- pointment, compensation, retention, and oversight of the independent auditor, who reports directly to the Audit Committee (subject to the approval of our Board of Directors). To carry out its duties, the Commit- tee may hire independent counsel and other advisors. We compensate the independent auditor and any outside advisor hired by the Audit Committee and provide funding for administrative expenses incurred by the Audit Committee in the course of its duties. The Committee has im- plemented procedures for receiving and addressing complaints regard- ing accounting, internal control, and auditing matters, including the sub- mission of confidential, anonymous complaints from employees regard- ing questionable accounting or au- diting matters. The internal auditing function also reports to the Audit Committee. Each member of the Audit Committee is an independent director, as required by the Mexican Securities Market Law and NYSE standards. Pursuant to the Mexican Securities Market Law, the chairman of the Audit Committee is elected at our shareholders meeting. Victor Alberto Tiburcio Celorio, Chairman of the Audit Committee, is the audit committee financial expert. Corporate Practices Committee • Luis Rubio Freidberg, Chairman • Jaime A. El Koury • Luis Alfonso Nicolau Gutiérrez The Corporate Practices Committee is responsible for preventing or re- ducing the risk of performing opera- tions that could damage the value of our company or that benefit a par- ticular group of shareholders. The Committee may call a shareholders meeting and add agenda items it considers appropriate, approve pol- icies on related party transactions, approve the compensation plan of the CEO and relevant officers, and support our Board of Directors in the elaboration of related reports. The Committee consists exclusively of independent directors. As required by the Mexican Securities Market Law, the chairman of the Corporate Practices Committee is elected at our shareholders meeting. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 97 OUR EXPERIENCED MANAGEMENT TEAM IAN CRAIG Chief Executive Officer GERARDO CRUZ Chief Financial Officer CATHERINE REUBEN Chief Corporate Affairs Officer Ian Craig joined FEMSA in 1994 and Coca-Cola FEMSA in 2003, and was appointed to his current position in 2023. With over 30 years of experience in the beverage industry, he previously held vari- ous senior management positions in the company, including Chief Operating Officer of Brazil, and prior to that, Chief Operating Officer of Argentina. He also held the positions of Director of Finance and Strategic Planning for the South America Division, Director of Finance, Director of Planning and Corporate Affairs in the Mercosur Region, and Corporate Director of Finance and Treasury at Co- ca-Cola FEMSA. He holds a BS degree in Industrial Engineering from the Instituto Tecnológico y de Estudios Superiores de Monterrey, an MBA from the Booth School of Business at the University of Chicago, and a Master's degree in International Business Law from the Instituto Tecnológico y de Estudios Superiores de Monterrey. Gerardo Cruz joined Coca-Cola FEMSA in 2003 and was appointed to his current position in 2023. Previously, he held various senior management positions in the company's finance area, includ- ing Corporate Director of Finance and Treasury, Director of Planning and Finance for Latin Ameri- ca, and Director of Finance for Coca-Cola FEMSA Colombia. In addition to his responsibilities as CFO, Gerardo supervises our supplier, risk management, and sustainable bonds strategies. Throughout his career, Gerardo has been a strong advocate for Inclusion and Diversity. As President of Coca-Cola FEMSA’s Inclusion and Diversity Board for the past two years, he has played a pivotal role in enhanc- ing the company’s commitment to creating a more inclusive and welcoming workplace for all. He holds a BA degree in Economics and a Master's degree in Applied Statistics both from the Instituto Tecnológi- co y de Estudios Superiores de Monterrey. Catherine Reuben joined Coca-Cola FEMSA in 2014 and was appointed to his current position in 2023. She has a broad background in leadership positions, covering institutional and regulatory areas as well as environmental, social, and governance (ESG) issues, throughout her career at Coca-Cola FEMSA. Before assuming her current role, she held different positions including Director of Corporate Affairs for Coca-Cola FEMSA Mexico, Corporate Director of Regulatory Affairs and Institutional Relations, and Manager of Corporate Affairs for Coca-Cola FEMSA Central America, with responsibilities in Guatema- la, Nicaragua, Costa Rica, and Panama. Previously Catherine was Executive Director of the Costa Rican-American Chamber of Commerce and worked in the Foreign Investment Promotion Agency of Cos- ta Rica (CINDE) supporting companies interested in nearshoring opportunities. She holds a double major in Economics and Business Administration & Finance, and has completed studies in Political Communication, as well as a Sustainability Certifi- cate from MIT. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 98 O U R E X P E R I E N C E D M A N A G E M E N T T E A M FABRICIO PONCE EDUARDO PEREYRA AITOR OCEJO Chief Operating Officer - Mexico Chief Operating Officer - Brazil Chief Operating Officer - Latin America NICOLÁS BERTELLONI Chief Growth Officer Fabricio Ponce joined Coca-Cola FEMSA in 1998 and was appointed to his current position in 2019. With over 27 years of experience in the beverage industry, he previously served in several senior management positions, including President and CEO of the Philippines Operation, Director of Oper- ations in Colombia, Managing Director for Heineken in Brazil, Managing Director of Central America, Argentina, and Colombia, and Director of Strategic Planning for Latin America Region. Prior to joining Coca-Cola FEMSA, he worked as a Senior Consul- tant in Bain & Company. An Agricultural Engineer, providing expertise in water issues, he holds a Mas- ter’s degree in Economics from INCAE Business School in Costa Rica. Eduardo Pereyra joined Coca-Cola FEMSA in 1996 and was appointed to his current position in 2023. With over 28years of experience in the beverage industry, he previously served in several senior management positions, including Director of Operations in Colombia, Commercial Director in Venezuela, Brazil, and Colombia, and Regional Manager in Mexico and Colombia. He holds a BS degree in Industrial Engineering from the Instituto Tecnológico y de Estudios Superiores de Monter- rey, an MBA from the Universidad de Adolfo Ibáñez in Chile, and an AMP from the Universidad de Navarra, IESE. Aitor Ocejo joined Coca-Cola FEMSA in 2000 and was appointed to his current position in 2023. With over 28 years of experience in the beverage industry, he previously served in several senior management positions, including Director of Oper- ations in Guatemala, Director of Operations in Ven- ezuela, Commercial and Business Development in Venezuela, and several strategic operational and marketing positions in Mexico, as well as other roles including Corporate Inorganic Acquisitions and Corporate Commercial Development. Prior to joining Coca-Cola FEMSA, he served in several senior management positions at The Coca-Cola Company. He holds a BS degree in Industrial Engi- neering from Universidad Iberoamericana. Nicolás Bertelloni joined Coca-Cola FEMSA in 2004 and was appointed to his current position in 2023. He possesses extensive expertise in the areas of Marketing and Market Intelligence, particularly in leading teams during times of transformation and crisis. Previously, he held various roles within the organization, including Director of Marketing for the Brazil and Mexico Divisions, and Director of Operations for Argentina and Uruguay. He holds a BA degree in Business Administration and a BA de- gree in Economics both from Universidad de Bue- nos Aires. Additionally, he completed Advanced Graduate Studies in International Economics from Institut für Weltwirtschaft in Germany and an MBA from Fundação Getúlio Vargas in Brazil. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 99 O U R E X P E R I E N C E D M A N A G E M E N T T E A M GABRIEL COINDREAU RAFAEL RAMOS IGNACIO ECHEVARRÍA Chief Strategic Planning Officer Chief Supply Chain and Engineering Officer Chief Digital and Technology Officer ANTONIO DÍAZ-CANEJA Chief Human Resources Officer Gabriel Coindreau joined Coca-Cola FEMSA in 2000 and was appointed to his current position in 2023. With extensive strategic planning expe- rience, he previously served in several strategic positions, including Corporate Director of Stra- tegic Projects and Initiatives, Corporate Director of Planning and Organizational Development, Managing Director for Coca-Cola FEMSA Colombia and Central America, as well as different positions in the Corporate Strategic Planning and Human Resources Departments. He holds a BS degree in Electronics Engineering from the Instituto Tec- nológico y de Estudios Superiores de Monterrey. Rafael Ramos joined Coca-Cola FEMSA in 1999 and was appointed to his current position in 2018. With over 32 years of experience in the beverage indus- try, he previously served in several senior manage- ment positions, including Manufacturing Director for Southeast Mexico, Supply Chain Director for Mexico and Central America, and Supply Chain Director of FEMSA Comercio. As part of his responsibilities as Chief Supply Chain and Engineering Officer, Rafael leads our environmental stewardship strategy across our operations. He holds a BS degree in Bio- chemical Engineering from and a Master’s degree in Business Administration of Agricultural Enterprises both from the Instituto Tecnológico y de Estudios Superiores de Monterrey. Ignacio Echevarría joined Coca-Cola FEMSA in 2018 and was appointed to his current position in 2021. With over 30 years of experience in the IT industry, he began his professional career as a technology consultant for consumer companies at Arthur Andersen. He joined the beverage industry 18 years ago where he has collaborated on digital transformation projects in 13 African countries (Equatorial Bottler Company), 15 European countries (Coca-Cola European Partners), and 10 countries in Latin America (Coca-Cola FEMSA). He has served as a board member for several startups and in the financial sector Banco Compartamos and the Gentera Foundation. Ignacio holds a BS degree in Industrial Engineering from The School of Industrial Engineering of Barcelona and an MBA from IE Business School in Madrid. Antonio Díaz-Caneja joined Coca-Cola FEMSA in 2003 and was appointed to his current position in 2023. With 20 years of experience dedicated to Human Resources at the company, he has overseen topics including employee well-being, talent devel- opment, human rights, and diversity, equity, and inclusion. Antonio has served as Corporate Com- pensation Manager, Corporate Labor Development Manager, Director of Organizational Effectiveness for Coca-Cola FEMSA Philippines, Corporate Direc- tor of Labor and Social Development, and Director of Human Resources in Colombia. He holds a BA degree in Business Administration and Management from the Universidad Iberoamericana. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 100 EXECUTIVE COMPENSATION Aligning Executive Compensation with Sustainable Long-Term Value Executive compensation at Coca-Cola FEMSA aligns with the company’s vision of long-term sustainable value creation. The evaluation and variable compensation program for our CEO and Strategic Leadership Team, as well as other company leaders and individual contributors, integrates collective and individual Critical Success Factors, defined an- nually. In line with the Corporate Practices Com- mittee's guidelines, half of the annual bonus is tied to the company achieving its financial ob- jectives, including Earnings Before Interest and Taxes (EBIT) and working capital efficiency. The other half is based on individual performance. The Critical Success Factors for individual performance of our Executive Team include sustainability performance indicators aligned with our climate action strategy, focusing on reducing absolute GHG emissions from our operations (Scopes 1 and 2 emissions) by 50% and reducing absolute GHG emissions from purchased goods and services and upstream transportation and distribution in the value chain (Scope 3 emissions) by 20%, compared to the 2015 baseline, as well as achieving 100% renewable electricity consumption in our opera- tions. Additionally, they also include key metrics related to water stewardship, community devel- opment, diversity, equity, inclusion, and other pillars of our Sustainability Framework. The variable compensation program available to our CEO and the Strategic Leadership Team combines short-term cash-based performance bonuses with long-term, stock-based compen- sation that vests over three years. CEO Compensation The compensation of our CEO is determined by various Critical Success Factors, as devised from the TOPS Methodology and the Economic Value-Added Based Bonus Program. These fac- tors draw upon the performance and results of team members within the company, ultimately influencing the CEO's performance metrics. Consequently, a broad range of metrics directly affects our CEO's compensation. The CEO's performance metrics include revenue growth, profitability increase, overall company growth (including market share, cash flow, and EBIT), development of the beverage portfolio and categories, development of our operations (in- cluding market execution and margin improve- ment), performance against our sustainability goals, and comprehensive risk management across all operations. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 101 NURTURING A CULTURE OF PSYCHOLOGICAL SAFETY THROUGH OUR COMPREHENSIVE ETHICAL SYSTEM Comprehensive Ethical System Our Comprehensive Ethical System, endorsed by the Board of Directors, encompasses three pivotal elements: The Code of Ethics, the Coca-Cola FEMSA Ethics Line, and the Ethics Committee. Together, these compo- nents actively promote ethical conduct that upholds our company's lega- cy, facilitate the identification and resolution of misconduct, and encour- age open communication, ensuring the integrity of our organization. Beyond promoting ethical behavior, this structure is integral to fostering a culture of trust and psychological safety, where employees feel secure in voicing concerns and providing honest feedback. Empowering our employ- ees within this ethical framework is crucial for enabling their active, confi- dent participation in the company's transformative journey and growth. We have evolved the management of our Comprehensive Ethical System, shifting from merely focusing on reports to the Coca-Cola FEMSA Ethics Line to a more holistic approach that unites key elements for prevention, surveillance, detection, and response to ethical dilemmas. Our evolved system now includes: • Framework with robust corporate standards and internal guidelines on ethical issues. • Communication strategy that reinforces ethical behavior and builds trust in the Coca-Cola FEMSA Ethics Line. • Management platform for the Coca-Cola FEMSA Ethics Line that enhanc- es transparency and reliability. • Specialized training programs for our ethics complaints investigators. Code of Ethics The foundation of our organizational culture, the →Code of Ethics communicates our values, promotes good behavior, and guides our decision-making process- es based on ethical principles. Our Code of Ethics includes important topics such as human rights, diversity, equity, inclusion, discrimination, vio- lence, harassment, conflicts of interest, misuse of information, and anti-corruption. For further information and access to the full document of our Code of Ethics please access one of the following links: →Spanish →English →Portuguese OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 102 Training and Communications on Business Ethics and Compliance The foundation of our Comprehensive Ethical System lies in the implementation of strong preventive measures aimed at foster- ing a culture of compliance throughout the organization. Personal responsibility plays a crucial role in empowering individuals to confidently contribute toward achieving our company’s goals. Key to this approach is a comprehen- sive training program that spans all levels of responsibility across our geographies, equipping all employees with the knowl- edge and tools they need to adhere to our ethical standards. In addition to our train- ing program, continuous communication campaigns play a crucial role in reinforcing the importance of ethical behavior. These campaigns serve as regular reminders to our workforce, ensuring that the principles of integrity and accountability are deeply ingrained in our corporate ethos. Preventing Discrimination and Harass- ment: Discrimination and harassment training are key components of our Ethics Mindset training. Additionally, we have implemented webinars and targeted com- munication campaigns throughout our operations, specifically addressing issues of workplace violence with a focus on discrimi- nation and harassment. These initiatives are designed to empower our operational teams, providing clear guidance for addressing and preventing such conduct effectively. Ethics Communication Campaigns: Fur- thermore, we are expanding our communi- cation campaigns across our operations to give greater emphasis on prevention and compliance with the company’s Code of Ethics and Policies. These enhancements are aimed at proactively addressing poten- tial issues, underscoring our commitment to maintaining the highest standards of ethical conduct across the organization. Ethics Training: The Ethics Mindset train- ing program is a key initiative designed to embed ethical values and practices deeply into our organizational culture. This compre- hensive program aims to educate and em- power all employees, ensuring a thorough understanding of our ethical standards. Emphasizing the importance of integrity, the program is tailored to address the specific ethical challenges and situations our em- ployees might encounter. Every employee receives frequent training and signs a Letter of Compliance with our Code of Ethics. This step is instrumental in ensuring they are not only familiar with the Code but also fully understand the specific actions or omissions that could pose risks to our organization. Additionally, it empha- sizes the importance of reporting any sus- pected violations to the Coca-Cola FEMSA Ethics Line. Leveraging the insights gathered from the increased number of reports to the Co- ca-Cola FEMSA Ethics Line, we are also intensifying the training for members of our Ethics Committees, equipping them with specialized skills for nuanced investigations. This step is key in enhancing our investiga- tion processes for specific types of cases. 80% of employees completed the Ethics Mindset course. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 103 Coca-Cola FEMSA Ethics Line Complaints for potential noncompliance with the Code of Ethics are received through the → Coca-Cola FEMSA Ethics Line. This whistle-blowing system, man- aged by an independent third party and available 24/7, guarantees that employ- ees, customers, suppliers, third parties, or any other stakeholder can submit a complaint anonymously. The third-party management ensures that these com- plaints are considered fairly, with a ded- icated group of investigators analyzing them impartially and confidentially. We are nurturing a culture where em- ployee voices are not just heard but are influential. Supported by a system that guarantees psychological safety, this initiative has led to an increase in reports to the Coca-Cola FEMSA Ethics Line. Employees now feel more confident in voicing concerns, indicative of a healthy, transparent workplace where well-being and open dialogue are essential. In 2023, the Coca-Cola FEMSA Ethics Line received 2,163 complaints, on topics rang- ing from work environment and leadership to operational or financial matters, with none concerning human rights violations. Reports to the Coca-Cola FEMSA Ethics Line in 2023 Complaints by Topic  Human resources  Financial information  Operational 87% 1% 12% Complaints by Status  In review  Substantiated  Unsubstantiated 32% 30% 38% Ethics Committees The Ethics Committees serve as the oversight and control bodies; they not only ensure adherence to the Code of Ethics but also address the most relevant ethical situations in the company. The Corporate Ethics Committee is a col- legiate body whose functions are delimit- ed by the internal regulatory framework, guaranteeing the independence of its decisions, criteria, and corrective mea- sures implemented. The Committee com- prises our CFO, CHRO, Legal Compliance Director, and operates under our Com- prehensive Ethics System. The diversity of its members ensures impartiality in the decision-making process. Among its various functions, the Corpo- rate Ethics Committee ensures that in- vestigations into reports received through the Coca-Cola FEMSA Ethics Line (which is managed by a third-party company) are carried out impartially, objectively, and confidentially. This process guaran- tees the protection of those who submit reports. Additionally, the Committee defines or authorizes criteria, and where necessary, deliberates and decides upon, or recommends disciplinary or corrective actions for violations of the Code of Ethics or Corporate Policies. Corrective measures to address situ- ations that do not align with our Code of Ethics include written reprimands, dismissals, criminal prosecution by competent authorities, and the pursuit of any other applicable legal actions. These measures are implemented in accor- dance with the Coca-Cola FEMSA Sanc- tions Guidelines. There are Ethics Committees in each of our territories that report to the Corpo- rate Ethics Committee. Their role locally is to oversight compliance with the Code of Ethics and attend to the company’s most relevant ethical situations and com- plaints. They are instrumental in creating across our operations an environment where employees feel secure and sup- ported in raising ethical concerns, con- tributing to a transparent and account- able workplace culture. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 104 RESPECT FOR HUMAN RIGHTS Coca-Cola FEMSA's Approach to Human Rights As a bottling partner for The Coca-Cola Company and a business unit of FEMSA, our commitment to human rights is strongly influenced by—and often directly implemented by—our major shareholders. This commitment extends to enacting human rights policies across the entire company, including our operations, employees, and suppliers. Newly defined and adopted in 2023 in partnership with FEMSA, our Human Rights Due Diligence Model aligns with the UN Guiding Principles on Business and Human Rights. The Model has the objective to uphold our commitment and responsibility to Human Rights by transforming challenges into opportu- nities, creating business value, and generating a positive social impact in the countries where we operate. FEMSA HUMAN RIGHTS DUE DILIGENCE MODEL 1. Identification: Analysis of the Company's activities and Human Rights that could potentially be impacted. 2. Evaluation: Classification and prioritization of Human Rights due to our operations and acting on the findings. 3. Grievance: Effective and agile attention to complaints about negative Human Rights impacts detected through formal institutional mechanisms, such as the Coca-Cola FEMSA Ethics Line. 4. Remediation: Repair and avoid the repetition of said negative impacts. 5. Prevention: Implementation of initiatives, processes, and policies to prevent future Human Rights violations. Signatories to the UN Global Compact In 2022, Coca-Cola FEMSA became a signatory to the UN Global Compact, the largest corporate sustainability initiative in the world. This initiative calls on companies to integrate 10 universal principles related to human rights, labor, the environment, and anti-corruption into their operations and value chain. Notably, FEMSA and The Coca-Cola Company joined the Global Com- pact in 2005 and 2006, respectively, underscoring our shared commitment to these global standards. Upholding Human and Labor Rights Outlined in our Human and Labor Rights Policy, we strictly forbid all forms of child and forced labor within our operations, adhering to local laws on the employment of minors. We ensure that all employment relationships are en- tered into voluntarily and categorically reject any form of unpaid work, servi- tude, slavery, or the compulsory retention of personal documents as employ- ment conditions. Through our Supplier Guiding Principles, we delineate the minimum standards expected from our suppliers in managing crucial aspects of human and labor rights. A Commitment Beyond Our Operations A prerequisite for becoming a new Coca-Cola FEMSA supplier is committing to our Supplier Guiding Principles and the company’s Code of Ethics. These documents clarify the values and behaviors we expect and audit within our value chain. Additionally, during the supplier registration process, we con- duct evaluations on anti-corruption and money laundering to ensure full compliance with applicable regulations. → Human Rights Commitment Statement → Supplier Guiding Principles → Human and Labor Rights Policy → The Coca-Cola Company’s Modern Slavery Statement → Learn about The Coca-Cola Company Commitment to Human Rights OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 105 CYBERSECURITY Securing Digital Growth As our business continues to expand its digital footprint as part of our growth strategy, we hold a critical responsibility to protect our digital capabilities and sensitive data. Our cyber and data security initiatives are centered on prevent- ing business disruption and safeguarding our information from cyberattacks and responsibly managing sensitive information. Without effective cyber and data security mechanisms, we face risks like operational disruptions from ran- somware, data breaches, fraud, and others. Moreover, our approach combines in-house and external technical expertise, maintaining a clear separation of responsibilities between governance and operational roles. To this end, we conduct continuous internal cybersecurity audits that report directly to the Board’s Audit Committee, while independent evaluations, including audits from FEMSA and The Coca-Cola Company, offer critical insights into our maturity and security status. Furthermore, our practic- es are aligned with The Coca-Cola Company’s Business Resilience Framework, ensuring compliance with established cybersecurity standards. At Coca-Cola FEMSA, we diligently manage cybersecurity risks inherent to our operations to safeguard the confidentiality, integrity, and availability of infor- mation, whether transmitted, stored, processed, or deleted, across physical and digital media. Coca-Cola FEMSA Cybersecurity Program Our cybersecurity program was developed in accordance with, and aligned to, international standards, best practices, and worldwide frameworks such as ISO 27001 and NIST SP 800-53, among others, reflecting our commitment to upholding the highest benchmark of information security and resilience. The cybersecurity program has four pillars supporting a virtuous cycle that drives the continuous improvement of our controls at people, technology, and processes environments, ensuring that the organization can adapt to new threats, comply with regulatory requirements, and protect its information assets effectively. The program is supported by a robust cybersecurity internal regula- tory structure that consists of our Cybersecurity Policy, 14 global norms, and 15 standards. It benefits from oversight by various governance entities, including the Board of Directors’ Audit Committee, an Executive Steering Committee, and a Chief Information Security Officer who leads our cybersecurity strategy. CYBERSECURITY PROGRAM PROCESS 1. Strategic Objectives: We implement a robust risk-based information security strategy that supports the company's strategic objectives, which guide our pursuit of business excellence. 2. Cybersecurity Status: Our annual cybersecurity plan actively mon- itors exposure to potential risks, aiming to establish a robust cyber- security status that protects assets and reputation against evolving digital threats. The Program also includes constant cybersecurity pos- ture assessments executed by external parties allowing us to improve continuously our protection mechanisms and processes. 3. Pentesting and Vulnerability Management: Vulnerability scans and ethical hacking exercises, conducted by a third-party, systematically identify and mitigate vulnerabilities to protect against evolving cyber threats. 4. Mitigation Process: Enhance cybersecurity by executing projects and tasks derived from technical and risk assessments. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 106 STRENGTHENING CYBER DEFENSES: LESSONS AND ACTIONS FROM COCA-COLA FEMSA'S 2023 INCIDENT In 2023, our company faced a cybersecurity incident, promptly addressed by activating our cybersecurity protection and response protocols. Throughout this period, we maintained full control over all our business applications and related infrastructure. The measures we took in response to the cybersecurity incident were preventative and we did not experience any material negative impact on the company’s related functions. Our business operations and service to customers continued seamlessly through backup procedures, with a strong focus on safeguarding the integrity, confidentiality, and availability of our information. Our effective controls identified and addressed the incident promptly, and by the end of that quarter, we had successfully resumed normal primary processes. Data security is extremely important to us. Our team, including third-party experts, has been working to enhance our cybersecurity risk management program and security posture according to lessons learned from the incident. We undertook a comprehensive forensic assessment of the incident to ensure the complete security of our systems. This approach emphasized our commitment to rigorous cybersecurity standards and our dedication to protecting our stakeholders' interests. During the year, we further strengthened our controls by focusing on improving processes, technology, and personnel, aiming at bolstering prevention, detection, and resilience to cyber threats. Additionally, we advanced our employee training and awareness efforts to promote secure online behaviors. Our ambition in cyber and data security is to become a recognized leader within the Coca-Cola System and throughout our value chain. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 107 SUPPLY CHAIN MANAGEMENT Supply Chain Resilience and Sustainability We are committed to maintaining a robust and resilient supply chain, essential for the reliable delivery of our products to customers. This commitment entails promoting the continuous flow of inputs as well as collaborating with our suppliers to advance our sustainability priorities. To this end, we follow a robust process to assess our suppliers, fostering alignment of our supply chain with our sustainability ambitions. The Coca-Cola Company Supplier Guiding Principles As bottlers within the Coca-Cola system, we adhere to rigorous standards enforced through audits conducted under The Coca-Cola Company's Supplier Guiding Principles protocol. These evaluations are carried out by an accredited external firm appointed by The Coca-Cola Company, ensuring our operations align with their 12 Supplier Guiding Principles. In 2023, The Coca-Cola Company carried out 123 evaluations of strategic suppliers in our system, aligned with The Coca-Cola Company’s Supplier Guiding Principles and Sustainable Agricultural Guid- ing Principles. Suppliers assessed under The Coca-Cola Company’s Supplier Guiding Principles Country Mexico Costa Rica Guatemala Nicaragua Panama Argentina Brazil Colombia 2016 2017 2018 2019 2020 2021 2022 2023 52 40 59 37 27 130 46 37 3 5 1 0 11 47 7 7 8 0 3 19 102 18 0 7 0 3 10 51 11 1 8 1 2 10 42 4 7 7 1 1 10 57 10 0 7 0 1 25 65 25 1 7 1 3 11 45 6 7 7 1 2 11 45 13 Total 126 197 141 105 120 253 120 123 SUSTAINABLE SUGAR SOURCING As of 2023, 72% of our sugar suppliers have obtained Bonsucro certification. Those companies are responsible for providing 71% of our total sugar procurement by volume. Bonsucro serves as the foremost global sustainability platform and standard for sugarcane, aiming to expedite the sustainable production and use of sugarcane with a focus on climate action, human rights, and adding value within the supply chain. This indicates our strategic move towards ensuring that a significant share of our primary agricultural input, sugar, is sourced in an environmentally and socially responsible manner. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 108 Assessing Suppliers’ Sustainability Performance Using Our Supplier Guiding Principles In addition to complying with The Coca-Cola Company’s Supplier Guiding Principles, a prerequisite for becoming a new supplier is committing to Coca-Cola FEMSA’s → Supplier Guiding Principles and the company’s Code of Conduct. These documents clarify the values and behaviors we expect and audit within our value chain. Additionally, during the supplier registration process, we conduct evaluations on anti-corruption and money laundering to ensure full compliance with applicable regulations. In 2023, we assessed 749 suppliers, evaluating their alignment with our company’s principles and values across four categories: environmen- tal stewardship, social and labor rights, commu- nity involvement, and ethical behavior. We also continued to encourage the use of our Supplier Guiding Principles for Tier 2 suppliers—the sup- pliers of our suppliers. In 2023, we assessed 50 Tier 2 suppliers for a total of 228 assessments since 2018. Moreover, at Coca-Cola FEMSA we extend our commitment beyond mere assessment; through the FEMSA supplier program, we actively offer our suppliers the opportunity to receive train- ing and support, empowering them to progress on their sustainability journey. This initiative reflects our dedication not only to uphold high standards but also to foster a collaborative environment that drives sustainable practices across our supply chain. Suppliers assessed under Coca-Cola FEMSA’s Supplier Guiding Principles Country Mexico Costa Rica Guatemala Nicaragua Brazil Panama Argentina Colombia Uruguay Total 2016 2017 198 120 84 245 106 49 94 45 2018 172 2019 165 2020 164 2021 143 2022 217 2023 246 34 34 27 66 36 31 41 36 21 63 24 31 30 15 35 35 15 47 57 24 38 68 13 38 61 20 245 266 187 223 30 17 51 27 36 42 56 28 34 41 45 22 35 34 60 32 402 539 400 426 619 699 665 749 ADVANCING OUR SCOPE 3 EMISSIONS REDUCTION GOALS Collaborating with our suppliers is cru- cial in reducing our Scope 3 emissions, which constitute a significant portion of our overall carbon footprint. By engag- ing closely with them, we can extend our sustainability efforts beyond our di- rect operations, driving collective action towards environmental responsibility. Among our top 25 suppliers, represent- ing 51% of our Scope 3 emissions, 52% have established science-based tar- gets, and an additional 12% are com- mitted with the Science Based Targets initiative (SBTi) to reduce their green- house gas emissions in alignment with global efforts. 95% of our procurement comes from local suppliers.                         OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 109 RISK MANAGEMENT Risk Management Process Our Comprehensive Risk Management Process plays a crucial role in managing the impact of both internal and external factors on our business. This involves identifying, assessing, and reporting short- and long-term risks to not only quantify their potential impact but also craft strategic mitigation plans. Our proactive approach to risk identifi- cation enables us to recognize and understand emerging risks effec- tively. This proactive approach also ensures we are well-prepared to safeguard our business continuity against unforeseen adversities. Key elements of our risk management framework include: • Performing sensitivity analysis on financial and non-financial risks to understand potential implications. • Regularly reviewing our company’s risk exposure to stay ahead of emerging threats. • Auditing our risk management process to ensure compliance with industry standards and best practices. Embedding a Sustainability Perspective Our thorough risk management process is intricately linked to both our materiality analysis and Sustainability Framework. This connec- tion ensures that identified sustainability risks are prioritized based on several key factors: their likelihood, potential impact, and the timing of their incidence on material issues. Additionally, we con- sider how these risks relate to our overall strategy and the specific measures we are implementing to mitigate them. This methodical approach allows us to manage risks strategically and align them with our broader organizational goals, reinforcing our commitment to robust and forward-thinking risk management. Embedding a sustainability perspective into these processes requires us to take a longer term and broader view of our operations, con- sidering interdependencies such as the linkage between potential ESG regulation and our ability to operate. Several of our risks can be mitigated through effective action, making their accurate mapping crucial. During the latest update of our risk and control base, we found that around 28% of the identified risks are connected to one or more ESG aspects. Sustainability linked risk management calls for proactive reporting to maintain transparency, contributing to our stakeholders being well-in- formed about our risk mitigation actions. Our goal is to establish a fully mature, industry-leading sustainability risk management process that quantifies and reports our sustainability impact to our stakeholders. MANAGING INCIDENTS AND CRISES EFFICIENTLY Our Incident Management and Crisis Resolution (MIRC) meth- odology is a comprehensive approach designed for managing incidents and crises efficiently. Led from FEMSA, MIRC is implemented across all our operations, to ensure rapid and effective response capabilities within our work centers. This methodology encompasses the identification of incidents, assessment of potential impacts, evaluation of occurrence probability, and the development of emergency plans and risk mitigation strategies, enabling us to maintain resilience and operational continuity. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 1 10 RISK MANAGEMENT MATRIX Our company is present in different countries and regions; consequently, we are continually exposed to an en- vironment that presents challenges and risks. Our ability to manage potential risks is vital for our business’ val- ue creation. Accordingly, our business strategy includes a Comprehensive Risk Management Process through which we are able to identify, measure, register, assess, prevent, and mitigate risks. Main Risk Potential Impacts Key Mitigation Actions Main Risk Potential Impacts Key Mitigation Actions • Termination of the bottler agreements. • Actions contrary to the interests of our shareholders other than The Coca-Cola Company and FEMSA. • Comply with the bottler agreements. • Work together and promote effective interaction between our strategic shareholders in order to maximize value creation. • Variability in the demand for our products. • Transform into a total beverage company aligned with consumers’ changing tastes and lifestyles. • Plastic pollution concerns may change consumer preferences regarding our portfolio. • Build a winning multi-category portfolio of products and presentations. • Drive our low- and no-sugar portfolio ahead of consumer trends. • Offer sustainable packaging options for our beverages. • Damage to Coca-Cola’s • Maintain the reputation and intellectual property and our trademark reputation. rights of Coca-Cola trademarks and our own trademarks. • Effective brand protection. • Strictly comply with Responsible Marketing Policies. Strategic Shareholder Relationships Our business depends on our relationship with The Coca Cola Company and FEMSA, and changes in this relationship may adversely affect us. Consumer Preferences Changes in consumer preferences, purchase drivers, and consumption habits might generate variability in the demand for some of our products. Coca-Cola Trademarks Coca-Cola’s and our brand reputation or brand violations could adversely affect our business. Competition Competition could adversely affect our business, financial performance, and results of operations. Cyber Incidents Since our business is highly leveraged by information systems and digital services, it could be significantly affected in the event of a security breach or cyber incident that affects the confidentiality, availability, or integrity of information and information systems. • Changes in consumer • Offer affordable prices, returnable packaging, preferences. • Lower pricing by competitors. effective promotions, access to retail outlets and sufficient shelf space, enhanced customer service, and innovative products. • Identify, stimulate, and satisfy consumer preferences. • Business disruption. • Theft or unauthorized exposure of sensitive or confidential information. • Regulatory noncompliance. • Fraud. • Economic loss. • Reputational damage and/or impact on share value. • A systemic approach to cyber security based on industry standards and The Coca-Cola Company Business Resilience Framework. • Oversight by the Board’s Audit Committee, the senior management, and a Chief Information Security Officer. • Cybersecurity-focused organizational structure. • Risk management process supported by periodic independent assessments. • Personnel awareness and training program regarding cybersecurity, social engineering, and phishing prevention. • Continuous investment to strengthen the security of existing processes and technologies. • Security by design approach to the new business digital initiatives. • Continuous improvement of monitoring, incident response, and resilience capabilities. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 1 1 1 Main Risk Potential Impacts Key Mitigation Actions Main Risk Potential Impacts Key Mitigation Actions Economic, Political, and Social Conditions Adverse economic conditions, political, and social events in the countries where we operate and elsewhere, and changes in governmental policies may adversely affect our business, financial condition, results of operations, and prospects. Regulations Taxes and changes in regulations in the regions where we operate could adversely affect our business. • Through a risk management strategy, hedge our exposure to interest rates, exchange rates, and raw material costs. • Evaluate annually, or more frequently, when the circumstances require, the possible financial effects of these conditions and, to the extent possible, anticipate mitigation measures. • Develop scenarios and contingency plans for adverse political and social developments that allow for business continuity considering, among other options: alternative distribution routes, stock management to prioritize critical SKUs, etc. • Affect and reduce consumer per capita income, which could result in decreased consumer purchasing power. • Lower demand for our products, lower real pricing of our products or a shift to lower margin products. • Negatively affect our company and materially affect our financial condition, results of operations, and prospects. • Sudden changes in our production due to last-minute regulatory adjustments, which could imply increased costs. • Increase in operating and compliance costs. • Restrictions imposed on our operations. • Identify regulatory risks and proposals of changes to regulations that directly affect our operation or financial condition. • Advocacy work to provide our views on legislators’ • Limitations on the use proposed regulatory changes. of certain ingredients or packaging material (PET). • The imposition of new taxes, increases in existing taxes, or changes in the interpretation of tax laws and regulation by tax authorities that may have a material adverse effect on our business, financial condition and results of operations. Legal Proceedings Unfavorable outcomes of legal proceedings could adversely impact our business. Weather Conditions, Natural Disasters, and Public Health Crises Adverse weather conditions, natural disasters, and public health crises may adversely affect our business, financial condition, results of operations, and prospects. Acquisitions and Business Alliances Inability to successfully integrate acquisitions or achieve expected synergies could adversely affect our operations. • Investigations and • Comply with applicable laws and regulations and proceedings on tax, consumer protection, environmental, and labor matters. comply with workplace rights policy. • Impact consumer • Implement business continuity plans and safety patterns and beverage sales. protocols to protect employees and avoid significant disruptions to our business. • Affect plants’ installed • Insure assets and operations against such adverse capacity, road infrastructure, and points of sale. events. • Negatively affect our business, financial condition, results of operations, and prospects. • Difficulties and • Integrate acquired or merged businesses’ unforeseen liabilities or additional costs in restructuring and integrating operations. operations in a timely and effective way, retaining key qualified and experienced professionals. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 1 12 Main Risk Potential Impacts Key Mitigation Actions Main Risk Potential Impacts Key Mitigation Actions Foreign Exchange Depreciation of the local currencies of the countries where we operate relative to the U.S. dollar could adversely affect our financial condition and results. Climate Change Adverse weather conditions could adversely affect our business and results of operations. Social Media Negative or inaccurate information on social media could adversely affect our reputation. • Financial loss. • Increase cost of some raw • Closely monitor developments that may affect exchanges rates. materials. • Hedge our exposure to the U.S. dollar with respect • Adversely affect our results, financial condition, and cash flows in future periods. to certain local currencies, our U.S. dollar- denominated debt obligations, and the purchase of certain U.S. dollar-denominated raw materials. Water Water shortages or failure to maintain our current water concessions could adversely affect our business. • Negatively affect consumer patterns and reduce sales. • Identify sources of our operations’ CO2e emissions. • Support and comply with climate change • Affect plants’ installed mitigation measures. capacity, road infrastructure, raw material supply, and points of sale. • Damage to our brands or corporate reputation without affording us an opportunity for correction. • Identify and reduce our environmental footprint through efficient use of water, energy, and materials. • Effective brand protection. • Proactive external communication. Raw Materials Increases in the price of raw materials we use to manufacture our products could adversely affect our production costs. Insufficient availability of raw materials could limit the production of our beverages. • Water supply may be insufficient to meet our future production needs. • Water supply may be adversely affected due to shortages or changes in governmental regulations or environmental changes. • Water concessions or contracts may be terminated or not renewed. • Efficient water usage. • Execute water conservation and replenishment projects. • Maintain 100% legal compliance. • Develop a water risk index, including four issues that need to be assessed: community and public perception risks, scarcity of water and other inputs, regulatory risks, and legal risks for each of our bottling plants. • Advocacy work with Governments to provide best practices on proposed regulations. • Update water risk assessment tool and work plans that contemplate aspects such as climate change, resilience to hydrological stress, media and social vulnerabilities, as well as regulations and production volumes for each of our bottling plants. • Secure water concessions for our production facilities. • Shortage or insufficient • Implement measures to mitigate the negative availability of raw materials may adversely affect our capacity to ensure production continuity. • Adjustments to our product portfolio according to availability. effect of product pricing on our margins such as hedging via derivative instruments. • Proactively address risk of supply on our value chain. • Strict compliance with our Supplier Guiding Principles. • Strategically adjust our product portfolio to enable us to minimize the impact of certain operating disruptions. STRATEGIC MANAGEMENT OF CLIMATE RISKS AND OPPORTUNITIES The impacts of climate change are not only relevant for the planet, but also for the communities where we operate. Accordingly, identi- fying climate-related risks and opportunities will enable us to be pre- pared to mitigate its effects, build resilience in the communities, and ensure that our organization’s growth is responsible and serves our stakeholders. To not only respond to our stakeholders’ concerns, but also to prepare for future climate change challenges, we identified and quantified the main related risks and opportunities, as well as their potential financial impacts in the short, medium, and long term. → For more information please visit our 2023 Task Force on Climate- Related Financial Disclosures (TCFD) Report on page 121. → For more information please see our 20-F Report. APPENDICES OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 1 14 FINANCIAL SUMMARY INCOME STATEMENT Total revenues Cost of goods sold Gross profit Operative expenses Other expenses, net Comprehensive financing result Income before income taxes and share of the profit or of associates and joint ventures accounted for using the equity method Income taxes Share in the profit (loss) of equity accounted investees, net of taxes Consolidated net income Equity holders of the parent for continuing operations Non-controlling interest net income for continuing operations RATIOS TO REVENUES (%) Gross margin Net income margin CASH FLOW Operative cash flow Capital expenditures (2) Total cash, cash equivalents Amounts expressed in millions of U.S. dollars and Mexican pesos, except data per share and headcount. U.S. (*) 2023 2022 (1) 2021 2020 2019 14,502 7,943 6,560 4,503 75 278 1,704 245,088 134,228 110,860 76,098 1,272 4,697 28,792 226,740 126,440 100,300 68,981 983 4,549 25,787 194,804 106,206 88,598 60,720 807 4,219 22,852 183,615 100,804 82,811 56,444 3,611 6,678 16,077 520 13 1,197 1,156 41 8,781 215 20,226 19,536 690 6,547 386 19,626 19,034 592 6,609 88 16,331 15,708 623 5,428 (281) 10,368 10,307 61 45.2 8.3 45.2 8.3 44.2 8.7 45.5 8.4 45.1 5.6 2,502 1,266 42,289 21,396 35,491 19,665 32,721 13,865 35,147 10,354 1,838 31,060 40,277 47,248 43,497 194,471 106,964 87,507 60,537 2,490 6,071 18,409 5,648 (131) 12,630 12,101 529 45.0 6.5 31,289 11,465 20,491                                       OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 1 15 BALANCE SHEET Current assets Investment in shares Property, plant and equipment, net Intangible assets, net Deferred charges and other assets, net Total Assets Liabilities Short-term bank loans and notes payable Interest payable Other current liabilities Long-term bank loans and notes payable Other long-term liabilities Total Liabilities Equity Non-controlling interest in consolidated subsidiaries Equity attributable to equity holders of the parent FINANCIAL RATIOS (%) Current Leverage Capitalization Coverage DATA PER SHARE Book Value (3) Income tributable to the holders of the parent (4) Dividends paid (5) Headcount (6) U.S. (*) 2023 2022 (1) 2021 2020 2019 4,008 547 4,659 5,986 985 16,185 67,738 9,246 78,730 101,162 16,644 273,520 79,212 8,452 71,205 103,122 16,004 277,995 80,364 7,494 62,183 102,174 19,352 271,567 72,440 7,623 59,460 103,971 19,572 263,066 8 45 3,196 3,851 1,173 8,273 7,912 395 7,516 140 764 54,012 65,074 19,825 139,815 133,705 6,680 127,025 8,524 862 48,574 70,145 18,014 146,119 131,876 6,491 125,385 2,453 811 42,957 83,329 14,445 143,995 127,572 6,022 121,550 5,017 712 37,116 82,461 15,303 140,609 122,457 5,583 116,874 1.23 1.05 0.33 10.80 1.23 1.05 0.33 10.80 1.37 1.11 0.39 8.68 1.74 1.13 0.41 6.11 1.69 1.15 0.43 5.13 0.447 0.069 0.040 7.558 1.162 0.725 7.460 1.133 0.679 7.232 0.935 0.634 6.954 0.610 0.608 104,241 104,241 97,211 83,754 82,334 56,796 9,751 61,187 112,050 18,055 257,839 11,485 439 39,086 58,492 18,652 128,154 129,685 6,751 122,934 1.11 0.99 0.37 5.51 7.315 0.723 0.443 82,186 (1) Information considers full-year of KOF’s territories and eleven months of CVI Refrigerantes Ltda. ("CVI"). (2) Includes investments in property, plant and equipment, refrigeration equipment and returnable bottles and cases, net of disposals of property, plant and equipment. (3) Based on 16,806.7 million ordinary shares as of December 31, 2023, 2022, 2021, 2020 and 2019. (4) Computed based on the weighted average number of shares outstanding during the periods presented:16,806.7 million for 2023, 2022, 2021, 2020 and 2019. (5) Dividends paid during the year based on the prior year's net income, using 16,806.7 millions outstanding ordinary shares for 2023, 2022, 2021, 2020 and 2019. (6) Includes third-party. * Exchange rate as of December 31, 2023 Ps. 16.8998 per U.S. dollar solely for the convenience of the reader according to the federal USA reserve.                                                       OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 1 16 MANAGEMENT DISCUSSION AND ANALYSIS Results for the Year Ended December 31, 2023 Compared to the Year Ended December 31, 2022 Consolidated Results The comparability of our financial and operating performance in 2023 as compared to 2022 was affected by the following factors: (1) translation effects from fluctuations in exchange rates; (2) our results in Argentina, whose economy satisfied the conditions to be considered a hyperinflationary economy and (3) the ongoing integration of mergers and acquisitions completed in recent years, specifically the acquisitions of CVI in Brazil in January 2022. To translate the full-year results of Argentina for the years ended December 31, 2023 and 2022, we used the exchange rate at De- cember 31, 2023 of 808.45 Argentine pesos per U.S. dollar and the exchange rate at December 31, 2022 of 177.16 Argentine pesos per U.S. dollar. The depreciation of the exchange rate of the Argentine peso at December 31, 2023, as compared to the exchange rate at December 31, 2022, was 356.3%. In addition, the average appreciation of currencies used in our main operations rela- tive to the U.S. dollar in 2023, as compared to 2022, was 5.8% for the Brazilian real, 10.7% for the Mexican peso, and of 15.3% for the Colombian peso relative to the U.S. dollar. Total Revenues. Our consolidated total revenues increased by 8.1% to Ps. 245,088 million in 2023 as compared to 2022, mainly as a result of volume growth, our revenue management initiatives and favorable mix effects. These effects were partially offset by unfavorable currency translation effects from most of our operating currencies into Mexican pesos. Total sales volume increased by 7.8% to 4,047.8 million unit cases in 2023 as compared to 2022, driven mainly by growth in all of our territories, including a strong performance in Mexico, Brazil, Colombia and Guatemala in 2023. • Sales volume of our bottled water category, excluding bulk water, increased by 17.6% in 2023 as compared to 2022. • Sales volume of our bulk water category increased by 24.6% in 2023 as compared to 2022. Consolidated average price per unit case decreased by 0.4% to Ps. 58.54 in 2023, as compared to Ps. 58.75 in 2022, mainly as a result of the negative translation effect resulting from the depreci- ation of most of our operating currencies relative to the Mexican peso. This was partially offset by favorable price-mix effects and revenue management initiatives. Gross Profit. Our gross profit increased by 10.5% to Ps. 110,860 million in 2023 as compared to 2022, with a gross margin increase of 100 basis points as compared to 2022 to reach 45.2% in 2023. This gross margin increase was mainly driven by our top-line growth, declining packaging costs, and favorable raw material hedging initiatives. These effects were partially offset by higher sweetener costs across our territories. The components of cost of goods sold include raw materials (principally concentrate, sweeteners and packaging materials), depreciation costs attributable to our production facilities, wages and other labor costs associated with labor force employed at our production facilities and certain over- head costs. Concentrate prices are determined as a percentage of the retail price of our products in local currency, net of applicable taxes. Packaging material purchases, mainly PET resin and alumi- num, and HFCS, used as a sweetener in some countries, are denominated in U.S. dollars. • In 2023, sales volume of our sparkling beverage portfolio increased by 5.2%, sales volume of our colas portfolio increased by 6.1%, and sales volume of our flavored sparkling beverage portfolio increased by 2.0%, in each case as compared to 2022. • Sales volume of our still beverage portfolio increased by 6.5% in 2023 as compared to 2022. Administrative and Selling Expenses. Our administrative and selling expenses increased by 10.3% to Ps.76,098 million in 2023 as compared to 2022. Our administrative and selling expenses as a percentage of total revenues increased by 60 basis points to 31.0% in 2023 as compared to 2022, mainly driven by increased marketing, maintenance and labor expenses. These effects were partially offset by an operating foreign exchange gain in Mexico as a result of the appreciation of OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 1 17 the Mexican Peso. In 2023, we continued investing across our territories to support marketplace execution, increase our cooler coverage, and increase our production capacity. the deferred tax, compared to the favorable effects that were recognized in the previous year. For more information, see Note 24 to our consolidated financial statements. Other Expenses Net. We recorded other expenses net of Ps.1,272 million in 2023 as compared to Ps.983 million in 2022, this increase was mainly as a result of an increase of provisions and pre-op- erational expenses. For more information, see Notes 19 and 25.6 to our consolidated financial statements. Share in the Profit (Loss) of Equity Accounted Investees, Net of Taxes. In 2023, we recorded a gain of Ps.215 million in the share in the profit of equity accounted investees, net of taxes, mainly due to the results of Jugos del Valle, our associate in Mexico and Fountain Agua Mineral LTDA, as compared to a gain of Ps.386 million registered during the previous year. Comprehensive Financing Result. The term “comprehensive financing result” refers to the combined financial effects of net interest expenses, net financial foreign exchange gains or losses, net gains or losses on the monetary position of hyperinflationary countries where we operate and market value gain (loss) on financial instruments. Net financial foreign exchange gains or losses represent the impact of changes in foreign exchange rates on financial assets or liabilities denom- inated in currencies other than local currencies, and certain gains or losses resulting from deriv- ative financial instruments. A financial foreign exchange loss arises if a liability is denominated in a foreign currency that appreciates relative to the local currency between the date the liability is incurred and the date it is repaid, as the appreciation of the foreign currency results in an increase in the amount of local currency, which must be exchanged to repay the specified amount of the foreign currency liability. Comprehensive financing result in 2023 recorded an expense of Ps.4,607 million as compared to an expense of Ps.4,549 million in 2022. This 3.3% increase was mainly driven by a higher foreign exchange loss of Ps.1,046 million as compared to a loss of Ps.324 million recorded during the same period of 2022, as our cash exposure in U.S. dollars was negatively impacted by the appreciation of the Mexican peso. In addition, we recognized a lower gain in monetary position in inflationary subsidiaries, recording Ps.93 million during 2023, as compared to a gain of Ps.536 million during the previous year. These effects were partially offset by a gain in the market value of financial instruments of Ps.169 million during 2023, as compared to a loss of Ps.672 million during 2022. In addition, we recorded net interest expense, of Ps.3,914 million, as compared to an expense of Ps.4,089 million in 2022, [mainly driven by increases in interest income as a result of an increase in interest rates. Net Income (Equity holders of the parent). We reported a net controlling interest income of Ps.19,536 million in 2023, as compared to Ps.19,034 million in 2022. This 2.6% increase was mainly driven by operating income growth, partially offset by an increase in our effective tax rate during the year. Results by Consolidated Reporting Segment Mexico and Central America Total Revenues. Total revenues in our Mexico and Central America consolidated reporting segment increased by 14.0% to Ps.149,362 million in 2023 as compared to 2022, mainly as a result of a volume increase in all of our territories coupled with favorable price-mix effects. Total sales volume in our Mexico and Central America consolidated reporting segment increased by 9.4% to 2,394.8 million unit cases in 2023 as compared to 2022, as a result of a volume increase in all our territories. • Sales volume of our sparkling beverage portfolio increased by 6.0% in 2023 as compared to 2022, mainly driven by a 6.7% increase in our colas beverage portfolio. • Sales volume of our still beverage portfolio increased by 7.6% in 2023 as compared to 2022, due to an 8.0% increase in Mexico. • Sales volume of bottled water, excluding bulk water, increased by 17.2% in 2023 as compared to 2022, due to double-digit increases in both Mexico and Central America. • Sales volume of our bulk water portfolio increased by 25.9% in 2023 as compared to 2022, due to a double-digit increase in Mexico and Central America. Income Taxes. In 2023, our effective income tax rate increased to 30.50%, as compared to our effective income tax rate of 25.4% in 2022 mainly as a result of lower favorable effects in 2023 in Sales volume in Mexico increased by 8.7% to 2,052.9 million unit cases in 2023, as compared to 1,889.9 million unit cases in 2022, mainly as a result of solid volume performance. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 1 18 • Sales volume of our sparkling beverage portfolio increased 4.4% in 2023 as compared to 2022, driven by a 5.2% increase in our colas portfolio and a 0.9% increase in our flavored sparkling beverage portfolio. • Sales volume of our still beverage portfolio increased by 8.0% in 2023 as compared to 2022. • Sales volume of bottled water, excluding bulk water, increased by 16.6% in 2023 as compared to 2022. • Sales volume of our bulk water portfolio increased by 25.3% in 2023 as compared to 2022. South America Total Revenues. Total revenues in our South America consolidated reporting segment decreased by 0.01% to Ps.95,726 million in 2023 as compared to 2022, mainly as a result of volume growth, favorable price-mix and our revenue management initiatives. These factors were partially offset by unfavorable currency translation effects resulting from the depreciation of most of our operating currencies as compared to the Mexican peso. Total revenues for beer amounted to Ps. 6,117 mil- lion in 2023 as compared to Ps. 5,600 million in 2022. Sales volume in Central America increased by 14.2% to 341.9 million unit cases in 2023, as com- pared to 299.5 million unit cases in 2022, mainly as a result of solid execution, and a solid perfor- mance in all our territories across the region. Total sales volume in our South America consolidated reporting segment increased by 5.5% to 1,653.1 million unit cases in 2023 as compared to 2022, mainly as a result of strong volume growth in Brazil, Colombia and Uruguay coupled with a slight volume growth in Argentina. • Sales volume of our sparkling beverage portfolio increased by 14.0% in 2023 as compared to • Sales volume of our sparkling beverage portfolio increased by 4.3% in 2023 as compared to 2022, driven by a 14.7% increase in colas and 10.7% increase in our flavored sparkling beverage portfolio. • Sales volume of our still beverage portfolio increased by 6.0% in 2023 as compared to 2022. • Sales volume of bottled water, excluding bulk water, increased by 22.7% in 2023 as compared to 2022. 2022, mainly driven by a 5.1% increase in our colas portfolio. Sales volume of our still beverage portfolio increased by 5.0% in 2023 as compared to 2022, driven mainly by a 46.2% increase in Uruguay and 14.8% increase in Argentina. Sales volume of our bottled water category, excluding bulk water, increased by 18.0% in 2023 as compared to 2022, driven mainly by a 52.4% increase in Brazil and a 31.1% increase in Argentina. • Sales volume of our bulk water portfolio increased by 287.6% in 2023 as compared to 2022. • Sales volume of our bulk water portfolio increased by 10.7% in 2023 as compared to 2022, due Gross Profit. Our gross profit in our Mexico and Central America consolidated reporting segment increased by 15.5% to Ps.71,665 million in 2023 as compared to 2022 and gross profit margin increased 60 basis points to 48.0% as compared to 2022. This gross margin increase was driven mainly by our top-line growth, declining packaging costs and the appreciation of the Mexican Peso as applied to our U.S. dollar-denominated raw material costs. These effects were partially offset by increases in sweeteners costs. Administrative and Selling Expenses. Administrative and selling expenses as a percentage of total revenues in our Mexico and Central America consolidated reporting segment increased by 120 basis points to 32.4% in 2023 as compared to 2022. Administrative and selling expenses, in absolute terms, increased by 18.4% in 2023 as compared to 2022 driven mainly by an increase in operating expenses such as labor, marketing and maintenance. to an increase in Colombia and Argentina, partially offset by a 4.6% decrease in Brazil. Sales volume in Brazil increased by 5.8% to 1,075.1 million unit cases in 2023, as compared to 1,016.2 million unit cases in 2022. • Sales volume of our sparkling beverage portfolio increased by 5.6% in 2023 as compared to 2022, as a result of an increase of 6.8% in our colas portfolio and an increase of 2.2% in our fla- vored sparkling beverage portfolio. • Sales volume of our still beverage portfolio increased] by 3.4% in 2023 as compared to 2022. • Sales volume of our bottled water, excluding bulk water, increased by 13.1% in 2023 as com- pared to 2022. • Sales volume of our bulk water portfolio decreased by 4.6% in 2023 as compared to 2022. Sales volume in Colombia increased by 5.3% to 347.6 million unit cases in 2023, as compared to 330.1 million unit cases in 2022. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 1 19 • Sales volume of our sparkling beverage portfolio increased by 4.0% in 2023 as compared to 2022, mainly driven by a 3.6% growth in colas and 5.7% volume growth in our flavored sparkling beverage portfolio. • Sales volume of our still beverage portfolio increased] by 2.3% in 2023 as compared to 2022. • Sales volume of bottled water, excluding bulk water, increased by 15.5% in 2023 as compared to Sales volume in Uruguay increased by 10.9% to 51.7million unit cases in 2023, as compared to 46.6 million unit cases in 2022. • Sales volume of our sparkling beverage portfolio increased by 3.3% in 2023 as compared to 2022. 2022. • Sales volume of our bulk water portfolio increased by 11.5% in 2023 as compared to 2022. • Sales volume of our still beverage portfolio increased by 46.2% in 2023 as compared to 2022. • Sales volume of bottled water increased by 52.4% in 2023 as compared to 2022. Sales volume in Argentina increased by 2.7% to 178.7 million unit cases in 2023, as compared to 173.9 million unit cases in 2022. • Sales volume of our sparkling beverage portfolio decreased] by 3.1% in 2023 as compared to 2022, mainly impacted by a 0.9% decrease in colas and 11.7% decrease in our flavored sparkling beverage portfolio. • Sales volume of our still beverage portfolio increased by 14.8% in 2023 as compared to 2022. • Sales volume of bottled water, excluding bulk water, increased by 31.1% in 2023 as compared to 2022. • Sales volume of our bulk water portfolio increased by 50.7% in 2023 as compared to 2022. Gross Profit. Gross profit in our South America consolidated reporting segment amounted to Ps.39,195 million, an increase of 2.4% in 2023 as compared to 2022, with a 90 basis point margin expansion to 40.9%. This increase in gross profit was mainly driven by a favorable price-mix effect, our raw material hedging strategies and an increase in our top-line, partially offset by an increase in sweeteners costs. Administrative and Selling Expenses. Administrative and selling expenses as a percentage of to- tal revenues in our South America consolidated reporting segment decreased by 40 basis points to 29.0% in 2023 as compared to 2022 driven mainly by savings and efficiencies. Administrative and selling expenses, in absolute terms, decreased by 1.4% in 2023 as compared to 2022. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 12 0 CAPITAL AND COMPANY ENGAGEMENT Capital Human Nature Company Engagement Capital Company Engagement Capital Company Engagement Our people are the core of our company. In line with our people-centric culture, we aim to increase opportunities for all collabora- tors to fulfill their careers, foster a culture of well-being that encompasses a holistic view of self-care and prevention, and ensure they enjoy work-life balance at every stage of their careers. Furthermore, we are committed to advancing our company's diversity, equity, and inclusion efforts, with respect and pro- tection for human rights. Our business is committed to the responsible use of natural resources. We are dedicated to increasing water efficiency in our opera- tions and securing water availability for our operations; replenishing the water we use on the production of our beverages to its source; and improving access to water, sanitation in our communities. We also work to increase energy efficiency across our value chain and integrate clean and renewable energy sources to reduce carbon emissions. Our commitment extends to accelerating the transition to a circular economy and a world without waste, strengthening our PET collection and use of recycled resin across our operations, while reducing packaging and operational waste. Social and Relationship Financial The development of our social ambitions and strategy is founded on an understanding that our license to operate relies on developing mutually beneficial relationships between our company and our internal and external stakeholders. Internally, we are guided by an understanding that our people are the core of Coca-Cola FEMSA, and the best way to grow is to ensure that our talent can live fulfilling lives—balancing their purpose in and out of the workplace. Externally, we are focused on our relationships with local communities and the value chain. Recognizing that our opera- tions have an enormous impact on our society and communities close to our plants, our goal is to continue to add shared value to ensure sustainable growth for our company and com- munity serve side by side. Our financial and operating discipline, robust capital structure, financial flexibility, trans- formative digital initiatives, and adaptability to changing market dynamics empower us to capture both organic and inorganic growth opportunities in our industry. This approach ensures the creation of sustainable long-term value for our investors. Intellectual We are accelerating our business's digital transformation to become the world’s pre- ferred and most sustainable commercial platform. We collaborate to create prioritized digital and analytical solutions that expedite the deployment of our commercial platforms and solutions. Our approach uses agile cells to enhance our competitiveness, proactively tackle industry challenges, capitalize on mar- ket opportunities, and promote intellectual growth across our organization. Manufactured Our highly experienced teams operate 56 bottling plants and 252 distribution centers across nine countries, deliver more than 4.0 billion unit cases of beverages through a primary and secondary fleet to more than 2.1 million points of sale, and serve a population of more than 272 million. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 12 1 TASK FORCE ON CLIMATE-RELATED FINANCIAL DISCLOSURES REPORT The impacts of climate change are not only relevant for the planet, but also for the communities where we operate. Accordingly, identifying climate-related risks and opportunities will enable us to be prepared to mitigate its effects, build resilience in the communities, and ensure that our organization’s growth is responsible and serves all of our stakeholders. To not only respond to our stakeholders’ concerns, but also to prepare for future climate change challenges, we performed in 2023 a renewed assessment in order to identify and quantify the main climate-related risks and opportunities, as well as their potential financial impacts in the short, medium, and long term. This report was prepared based on the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). Governance Organization’s Governance Around Climate-Related Risks and Opportunities At Coca-Cola FEMSA, the Chairman of the Board oversees and ensures the implementation of our company’s Sustainability Strategy, aligning our business priorities to fulfill our commitment to creating economic value and generating social and environmental well-being for our stakeholders. 4. Chief Financial Officer: Responsible for finance, legal, risk management, and sustainable sourcing. 5. Chief Supply Chain and Engineering Officer: Responsible for our environmental pillars (climate action, water stewardships and world without waste). The Sustainability Committee meets four times a year to review climate change-related issues, as well as risks and opportunities. In this way, goals, strategies, and objectives are defined and integrated into our corporate strategy. Risk Management Strategy: Identification of actual and potential impacts of climate-related risks and opportunities on the organization’s businesses, strategy, and financial planning Risk Management: Processes used by the organization to identify, assess, and manage cli- mate-related risks. Coca-Cola FEMSA’s risk management methodology is based on criteria estab- lished in ISO 31000 and the Internal Control-Integrated Framework (ICIF-2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). The assessment includes our own operations and upstream activities. We established a Sustainability Committee comprised of our company’s CEO, CFO, Human Re- sources, Supply Chain, and Corporate Affairs Directors, and permanent guests from the FEMSA sustainability team, among others. For more information about our risk management methodology, please visit Ethics and Gover- nance on page 94 and refer to the GRI index, standards 2-12 and 2-13. 1. Chief Executive Officer: Oversee and ensure the implementation of our company’s Sustain- ability Framework We assess physical and transitional risks and opportunities in line with TCFD recommendations using a five-step method: 2. Chief Operating Officers: Supervise and ensure that our company’s Sustainability Framework is implemented in their divisions. 3. Chief Corporate Affairs Officer: Responsible for our company’s Sustainability Framework and our community development priorities. 1. Identification of climate risks and opportunities (qualitative analysis). 2. Definition of climate scenarios and time horizons. 3. Identification of variables associated with climate scenarios. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 122 Time Horizons: We used three-time horizons with three different scenarios, which helped us to understand the potential impact of climate-related risks and opportunities on our business. We chose them for scenario analysis due to the relative abundance of data available for reference and their compatibility with our business plans and schedules. They are also aligned with national and international objectives on climate change: a “short-term” period (2030), a “medium-term” period (2040), and a “long-term” period (2050). Each of the three scenarios and time horizons presents its own social, political-regulatory, economic, and technological-energy context, with important differences and consequences regarding climate change. The IPCC and IEA scenar- ios are those recommended by the TCFD, with wide market adoption. The vast majority of the physical climate models follow the IPCC’s Representative Concentration Pathways (RCPs). NGFS scenarios are compatible with the Financial Stability Board and provide comprehensive databases of market variables. All three sets of scenarios are consistent and must be updated frequently. Risk Matrix: Please see our Risk Matrix in Ethics and Governance on page 110. For more information please visit our →20-F report. 4. Estimation of risk and opportunity parameters. 5. Calculation of value at risk from climate change (includes a quantitative estimate of the ex- pected and stressed impact of risks and opportunities). Multidisciplinary groups in our operations (consisting of areas such as sustainability, strategic planning, operations, marketing, finance, corporate affairs, etc.) work together to identify, prior- itize, and quantify the main climate-related risks and opportunities. As a result of our review of recommended scenarios and multidisciplinary working sessions, we considered three scenarios in our analysis, using a combination of those presented by the International Energy Agency (IEA), the Intergovernmental Panel on Climate Change (IPCC), and the Network for Greening the Finan- cial System (NGFS). This combination will help us to assess the physical and transitional risks and opportunities within several temperature-rise scenarios by adhering to TCFD recommendations: 1. Net Zero Scenario, global temperature rises 1.5°C Assumption: Net zero emissions are achieved globally by 2050 through international coopera- tion and social involvement. Selected climate scenarios: a) IPCC (SSP1 – 1.9), b) IEA (NZE), c) NGFS (Net Zero 2050) 2. “Moderate Transition” Scenario, global temperature rises 1.8°C Assumption: Only those economies with the objective of achieving net zero emissions by 2050 will achieve it through international cooperation and social involvement. Selected climate scenarios: a) IPCC (SSP1 – 2.6), b) IEA (APS), c) NGFS (Below 2°C) 3. “No Ambition” Scenario, global temperature rises 2.7°C Assumption: Developed economies do not achieve net zero emissions by 2050. There is lack of impulse for political agents, who are limited to fulfilling their commitments. Selected climate scenarios: a) IPCC (SSP2 – 4.5), b) IEA (Stated Policies), c) NGFS (Deter- mined Contributions) OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 123 Risks and Opportunities Related to Climate The next table not only summarizes, but also quantifies the main identified risks and opportunities. We identify both physical and transition risks, as well as current and emerging risks and opportunities. The development of climate change related risks may be influenced by changes in market conditions, regulatory frameworks, technological advancements, and other external factors. The financial impact was defined with the following ranges: Low (0 to 50), medium (from 51 to 150), and high (more than 150) million US dollars. Type Category Risk / Opportunity Financial impact Description Physical risks Chronic Variation of average precipitation High Acute Extreme rainfall and flooding Low Transition risks Legal / Political Market Increase in GHG emissions prices Medium Increase in the cost of raw materials associated with generated emissions High Increase in the cost of sugar due to changes in weather conditions High As rainfall decreases in the geolocations of the smaller basins, there would be a potential limitation of water extraction and, therefore, a decrease in beverage production. The occurrence of floods could generate complications in production. Additionally, damage and/or losses to fixed assets may occur. Imposing a tax on business revenues could mean significant additional carbon costs according to own emissions of scope 1 and 2 The increase in the carbon price that impacts the cost of key raw materials (sugar, recycled and non-recycled PET) could mean an increase in the production costs given that, when a carbon tax is implemented, the producer could pass this cost on to the business. The climatological changes that climate change may bring may result in the yields of sugarcane crops being affected (decrease in supply) and the prices of refined sugar may increase. See section for information about management and mitigation Foster a sustainable future Water stewardship Foster a sustainable future Climate action Ethics and Governance Supply Chain Management Foster a sustainable future World without waste Ethics and Governance Supply Chain Management Foster a sustainable future Climate action Opportunities Energy sources Resource efficiency Use of low-emission energy sources and new technologies in own consumption and promotion of decentralized generation Improvement in the efficiency of facilities and production processes Note: Emerging regulations are described in our risk matrix. High Economic benefit of using renewable energy in operations compared to the consumption of energy with a high concentration of carbon. Medium Economic benefit from the development of efficiency projects related to packaging, energy and water. Foster a sustainable future Water stewardship, World Without Waste, Climate action OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 124 In addition, the following risks and opportunities were also identified: Transition Risks: • Legal/political- Operation limits (input / output): The limits on the transit of the business's vehicle fleet in certain geographic areas due to the implementation of regulations that promote a more aggressive reduction of emissions from mobile sources would affect the distribution process. • Technology - Disruptive technologies in production processes: Lack of investment in new tech- nologies. • Reputation - Concern of stakeholders: new demands from stakeholders. Opportunities: • Products and services - Development and/or expansion of low-emission goods and services and diversification of the business model: The implementation of a new product distribution model, aligned with the energy transition and the decarbonization of the economy. • Resource efficiency - Reduction in operating expenses due to recycling: The use and expansion of recycling processes to introduce materials to a new production cycle, in addition to selling them to third parties. • Resource efficiency - Improvement in the efficiency of distribution and transportation: Work with suppliers to reduce scope 3 emissions from product distribution. • Resource efficiency - Reduction of water use and consumption: Economic benefits from water efficiency projects. • Resilience - Increasing supply chain security through substitution/diversification: Work with suppliers to ensure low-emission raw materials. Goals and Metrics Metrics and targets used to assess and manage relevant climate-related risks and opportunities where such information is material. In 2020, we became the first Mexican company and the third in Latin America to achieve the official approval of our emissions reduction targets by the Science Based Target initiative (SBTi), aligned with the goal of the 2015 Paris Agreement to limit global warming to well below 2°C above preindustrial levels. Accordingly, our 2030 commitments (compared with the 2015 base- line) are: • Reduce 50% absolute GHG emissions from our operations (scope 1 and 2) by 2030 compared with a 2015 baseline year. • Achieve 100% renewable electricity for our operations. • Reduce 20% absolute GHG emissions from the value chain by 2030 compared with a 2015 baseline year. Moreover, we meticulously report and verify by a third party our progress in our integrated report and to the CDP in accordance with their guidelines enhancing transparency regarding our emis- sion sources and progress to date. To read about or plans, goals, progress, and commitments towards climate change please see Foster a Sustainable Future, page 48. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 12 5 PERFORMANCE IN DETAIL The following Performance in Detail tables represent Coca-Cola FEMSA's sustainability results, meticulous- ly aligned with our updated Sustainability Framework. This comprehensive data not only showcases our progress in 2023 but also extends to include a detailed account from the previous two years, reflecting our dedication to adherence to best industry practices. Through this effort, we aim to provide a clear view of our sustainability journey, underscoring our commitment to transparency and continuous improvement. Disclosure Beverage Beverage produced Water stewardship Water Water withdrawal Unit 2021 2022 2023 Disclosure thousands of Megaliters 18.97 20.58 22.21 Total water withdrawal thousands of Megaliters 27.90 30.24 30.99 Municipal water Rainwater Wells Surface water Water discharged thousands of Megaliters thousands of Megaliters thousands of Megaliters thousands of Megaliters Total water discharged thousands of Megaliters thousands of Megaliters thousands of Megaliters 8.43 0.01 18.07 1.49 8.57 4.13 4.44 9.32 0.01 19.28 1.64 8.56 3.94 4.62 9.24 0.01 21.74 0.00 8.38 4.46 3.92 Liters of water used per liter of beverage produced 1.47 1.46 1.42 thousands of Megaliters 12.87 13.51 13.88 Sewer River Efficiency Water efficiency Water stressed areas Water withdrawal in areas with water stress Replenishment Replenish water we use in our production, focusing on medium and high stress sites % 98% +100% +100% World without waste Waste Industrial waste Waste generated Waste recycled Waste recycled Waste directed to disposal Waste directed to disposal Hazardous waste (1) Waste efficiency Unit kton kton % kton % kton 2021 2022 2023 119.60 116.76 129.77 127.84 178.22 174.58 98% 2.84 2.0% 2.05 99% 1.93 1.5% 2.36 98% 3.64 2.0% 1.69 Waste per liter of beverage Grams 6.30 6.31 8.17 Zero waste Bottling plants certified as zero waste Distribution centers certified as zero waste % % Materials PET Total used PET Used virgin PET Used recycled PET Used recycled PET Other materials Paper kton kton kton % Tons 46% 77% 84% 0% 0% 1% 270.60 187.50 83.10 31% 321.22 235.71 85.51 27% 331.86 221.97 109.89 33% 0.95 0.95 2 OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 126 Unit Thousand Km 2021 NA 2022 2023 NA 492,422.47 Disclosure Paper - recycled content Aluminum Aluminum - recycled content Glass Glass - recycled content Reusable packaging / Recycling Returnable/refillable bottles from total volume PET collected from the one we put in the market Climate action (2) GHG Emissions Absolute Greenhouse Gas Emissions Emissions Scope 1 Emissions Scope 2 Emissions Scope 3 (3) Emissions Intensity (Scope 1 + 2) Unit % Tons % Tons % % % 2021 1% 31.8 70% 87.4 30% 2022 1% 31.8 70% 87.4 30% 2023 - 36.6 64% 119.5 36% 33.7% 31.5% 32.0% 45% 26% 31% Disclosure Total fleet road kilometers travelled Environmental management Environmental violations Number of violations of legal environmental obligations/ regulations Sustainable Sourcing Supplier information Total suppliers Tier 1 suppliers kton of CO2e 3,898.64 3,788.75 3,462.48 kton of CO2e kton of CO2e kton of CO2e grams of CO2e per liter of beverage produced 567.85 554.50 576.95 50.99 52.11 26.95 3,279.79 3,182.15 2,858.58 32.62 29.48 27.19 Energy Total energy use Electricity from non-renewable sources Electricity from renewable sources Energy from fuels TJ TJ TJ TJ Global use of renewable energy (4) % 3,379.07 4,165.42 3,909.35 1,020.79 751.37 497.86 1,158.55 1,480.27 1,647.05 1,619.22 1,933.77 1,764.44 53% 66% 77% Efficiency Energy efficiency Fleet Fleet fuel management Fleet fuel consumed Percentage renewable liters of beverage produced per megajoule of energy used 5.66 5.97 6.11 TJ % NA <1 NA <1 5,539.94 1.3 Assessment and development Total number of suppliers assessed # # # % # # # # # # # # # # # # # Total significant suppliers (Tier 1) # Percentage of total spend on significant suppliers in Tier 1 Total number of significant suppliers in non Tier 1 Total number of significant suppliers (Tier 1 and non Tier 1) Supplier assessment Total suppliers assessed with our Supplier Guiding Principles By country Argentina Brazil Colombia Costa Rica Guatemala Mexico Nicaragua Panama Uruguay 0 0 0 14,583 14,408 16,589 16,523 14,061 13,912 520 NA 175 695 570 NA 66 636 405 35% 149 554 699 665 749 42 266 56 47 57 143 24 36 28 41 187 45 38 68 217 13 34 22 34 223 60 38 61 246 20 35 32 1,013 820 922 OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 127 Disclosure Unit % of significant suppliers assessed (5) Number of suppliers assessed with substantial actual/potential negative impacts (6) Suppliers identified as having significant actual and potential negative environmental impacts with which improvements were agreed upon as a result of assessment Number of suppliers with substantial actual/potential negative impacts that were terminated Total number of suppliers supported in corrective action plan implementation (7) % of suppliers assessed with substantial actual/potential negative impacts supported in corrective action plan implementation Total number of suppliers in capacity building programs (8) % of significant suppliers in capacity building programs Certifications of Agricultural Crops % of sugar volume from Bonsucro certified suppliers Local suppliers Buying of local suppliers vs. total ESG maturity in suppliers ESG assessment to suppliers Suppliers with low ESG compliance Suppliers with medium ESG compliance % # % # # % # % % % % % 2021 49% 2022 21% 2023 30% NA NA 43 100% 100% 100% Disclosure Suppliers with high ESG compliance Integral Employee Well-being Hires Total hires By country NA NA 7 1,013 820 922 100% 100% 100% NA NA NA NA 948 33% 40% 52% 71% 94.69% 90.37% 95.03% NA NA NA NA 36% 32% Argentina Brazil Colombia Costa Rica Guatemala Mexico Nicaragua Panama Uruguay By gender Male Female By age group 18-34 35-44 45-60 60+ <30 30-39 40-49 50-59 60+ Internal hires Open positions filled by internal candidates Hiring costs Unit % 2021 NA 2022 NA 2023 32% # # # # # # # # # # % % % % % % % % % % % % 17,751 20,872 29,179 NA NA NA NA NA NA NA NA NA 79% 21% 80% 16% 4% 0% 413 6,401 725 256 2,543 420 6,905 779 467 2741 10,176 17,493 138 102 118 83% 17% 82% 25% 3% 0% 123 133 118 82% 18% 60% 30% 8% 1% 1% 32% 55% 31% Average hiring cost Mexican pesos 1,603.77 2,411.34 1,709.65 OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 128 Unit 2021 2022 2023 Disclosure Unit Disclosure Turnover Total turnover rate Voluntary Involuntary Voluntary turnover by age group 18-34 35-44 45-59 60+ <30 30-50 >50 Involuntary turnover by age group 18-34 35-44 45-59 60+ <30 30-50 >50 Voluntary turnover by gender Male Female Involuntary turnover by gender Male Female Voluntary turnover by country Argentina Brazil Colombia Costa Rica % % % % % % % % % % % % % % % % % % % % % % % % % 20.20% 28.80% 30.88% 11.30% 9.65% 8.90% 19.10% 10.14% 20.74% Guatemala Mexico (9) Nicaragua Panama Uruguay 16.76% 6.12% 3.27% 23.39% 10.19% 7.85% 6.38% 20.81% 16.76% 5.75% 1.37% 6.00% 4.00% 0.35% 28.67% 13.67% 9.35% 11.10% 8.80% 0.80% 11.07% 13.33% 9.17% 12.72% 8.26% 1.88% Involuntary turnover by country Argentina Brazil Colombia Costa Rica Guatemala Mexico (9) Nicaragua Panama Uruguay Parental leave Employees that returned to work after parental leave Male Female Employees that continue working 12 months after parental leave Male Female 9.10% 7.50% 20.2% 12.0% 18.27% 2.47% Health & Safety Workers covered by an OHS management system % % % % % % % % % % % % % % % % % % % % 2021 100.50% 7.00% 4.90% 1.90% 16.50% 2022 3.39% 2023 2.31% 12.09% 21.11% 9.24% 1.19% 9.61% 7.17% 1.69% 4.85% 8.08% 15.50% 11.19% 10.89% 81.62% 31.93% 2.34% 5.34% 1.40% 8.23% 14.50% 13.71% 5.50% 7.80% 5.69% 6.39% 2.10% 116.73% 8.00% 4.70% 5.70% 2.40% 17.70% 2.54% 5.16% 11.66% 11.20% 97.0% 98.5% 100% NA NA NA NA NA 97.4% 98.7% 78.7% 80.6% 63.6% 100% 100% 92.7% 93.9% 98.8% 9.50% 6.90% 16.80% 10.30% 5.33% 6.38% 8.37% 4.26% 6.70% 8.35% 11.49% 20.44% % of employees who are covered by OHSM system % 100% 100% 100% OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 12 9 Disclosure % of workers who are not employees but whose work and/ or workplace is controlled by the organization who are covered by OHSM system Training on Health & Safety Total hours of training in health and safety Number of employees trained on health and safety Fatalities Total fatalities Internal causes Employees Contractors Communities Incident Rate Total TIR TIR - Employees TIR - Third Parties Lost Time Incident Rate Total LTIR LTIR - Employees LTIR - Third Parties Training Average training hours By gender Male Female By contribution level Strategic leaders (top management) Tactical leaders (middle management) Unit % # # # # # # # n per 200,000 hours worked n per 200,000 hours worked n per 200,000 hours worked n per 200,000 hours worked n per 200,000 hours worked n per 200,000 hours worked # # # # # 2021 100% 2022 100% 2023 100% NA 339,922 240,694 35,056 41,937 41,829 17 8 0 5 12 1.06 1.04 NA 0.66 0.58 NA 28 27 36 53 67 38 9 0 4 34 0.90 0.88 0.95 0.61 0.60 0.64 22 21 27 28 33 34 8 4 3 27 1.60 2.02 0.72 0.88 1.06 0.51 25 24 29 24 33 Disclosure Unit 2021 2022 2023 People leaders (junior management) Individual contributors Operations contributors Interns By age group 18-34 35-44 45-59 60+ 18-29 30 - 50 51+ Total training by topic Health & Safety Sustainability Human rights Technical capabilities Leadership Others Average invested amount per employee training and development Human Capital Return on Investment ((Total Revenue - (Operative Expenses - Employee Related Expenses)) / Employee Related Expenses) Performance Employees receiving regular performance and career development reviews Well-being Lost days # # # # # # # # # # # 73 38 22 31 NA NA NA NA 34 29 20 10 25 20 18 13 39 30 17 48 30 24 16 # # # # # # Mexican pesos NA NA NA NA NA NA 2,098 339,922 NA NA NA NA NA 2,257 240,694 32,362 22,187 944,705 106,354 894,776 2,806 HC ROI 4.57 5.12 5.03 % 97% 97% 98% General illness index Lost days per 100 employees 534.40 467.50 339.75 OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 130 Unit 2021 2022 2023 Disclosure Unit 2021 2022 2023 Disclosure Climate assessment Engagement level result in annual organizational climate assessment Employees who participated in the organizational climate assessment Volunteer program Total volunteering initiatives Total volunteers (internal and external) Total volunteering hours % % # # # 91% 92% 91% 92% 89% 93% Average Tenure Average tenure of board members in years Years Anticorruption / Ethics / Code of Conduct Communication and training about anticorruption 2,432 2,337 2,181 93,012 105,958 129,388 Employees adhered to the company’s anticorruption process and policies Employees trained in anticorruption and ethics 254,873 250,812 302,531 Ethics Line % % # % % % % % % Total complaints received Complaints by category Operational Financial information Human Resources Complaints by status In review Substantiated Unsubstantiated Anticorruption Cost of fines, penalties or settlements in relation to corruption 13.40 12.81 10.93 100% 100% 100% NA NA 80% 1,616 1,371 2,163 12% 0% 88% 29% 32% 39% 12% 2% 86% 45% 24% 31% 12% 1% 87% 32% 30% 38% Mexican pesos - - - Human Rights + Diversity, Equity and Inclusion Employees Employees + Non-employee workers # Employees Non-employee workers Gender (internal employees) Male Female # # # % # 84,568 97,213 104,241 74,574 9,994 80,447 16,766 86,811 17,430 65,218 68,969 73,319 87.45% 85.73% 84.46% 9,356 11,478 13,492 Total investment in volunteering Million USD 0.28 8.7 1.5 Collective bargaining Employees covered by a collective agreement Community Development Community Investment Total community investment Total of people benefited directly by community initiatives Priority plants with a community engagement plan with MARRCO Methodology Countries with an impact assessment and community program Ethics & Governance Board Board type / one-tier system Executive directors Non executive directors Independent directors Board by gender Male Female % 62% 62.10% 65.82% Million Mexican pesos # NA 423,961 47.2 321,685 88.6 359,343 # % # # # # # 0 3 4 100% 100% 100% 0 8 9 17 0 0 8 8 16 0 0 8 8 14 2 OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 131 Disclosure Unit 2021 2022 2023 Disclosure Unit 12.55% 14.27% 15.54% Female Age group (internal employees) 18-34 35-44 45-59 60+ <30 30-50 >50 Country (internal employees) Argentina Brazil Colombia Costa Rica Guatemala Mexico Nicaragua Panama Uruguay % % % % % % % % # # # # # # # # # Contribution level (internal employees) # Strategic leaders (top management) Male Female Tactical leaders (middle management) Male Female People leaders (junior management) Male % % # % % # % 54% 29% 16% 1% 38% 54% 7% 34% 57% 9% 2,346 2,462 2,583 19,278 22,034 24,090 3,159 1,189 2,952 3,351 1,261 3,068 3,482 1,358 3,242 42,291 45,565 49,224 712 1,247 681 769 1,275 662 819 1,327 686 NA 79% 21% NA 75% 25% NA 61% 116 78% 22% 898 73% 27% 127 73% 27% 934 71% 29% 2,375 2,427 71% 69% Individual contributors Male Female Operations contributors Male Female Nationality (internal employees) Argentina Brazil Colombia Costa Rica Guatemala Mexico Nicaragua Panama Uruguay Venezuela Others % # % % # % % % % % % % % % % % % % Nationality (share in management positions) Argentina Brazil Colombia Costa Rica Guatemala Mexico Nicaragua Panama Uruguay Venezuela % % % % % % % % % % 2021 39% NA 77% 23% NA 94% 6% 3% 26% 4% <1% 4% 58% <1% 2% <1% <1% <1% NA NA NA NA NA NA NA NA NA NA 2022 29% 2023 31% 25,651 27,553 74% 26% 72% 28% 51,721 55,770 92% 8% 3% 27% 4% 2% 4% 56% 1% 2% <1% 1% <1% 6% 17% 7% 3% 3% 59% 1% 1% <1% 1% 91% 9% 3% 27% 4% 1% 4% 56% 1% 1% 1% <1% <1% 5% 21% 8% 2% 2% 58% <1% <1% 1% 2% OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 13 2 Disclosure Others Women Share in management positions (strategic and tactical leaders) Share in total management positions (strategic, tactical and people leaders) Share in top management positions (as % of total management positions) Total in non-managerial positions (individual contributors) Women in management positions in revenue-generating functions Women in STEM-related positions Gender pay gap (10) Mean gender pay gap (men vs. women) Median gender pay gap (men vs. women) Disabilities Employees with a disability Human Rights Total hours of training in human rights Product portfolio Customer satisfaction (11) Unit % % % % % % % % % # # % 2021 NA 2022 <1% 2023 1% 28.0% 28.4% 29.0% NA 28.2% 30.3% Notes NA: Not Available. Data reported for Water Stewardship, World Without Waste and Climate Action do not include the 7 plants acquired in Mexico at the end of 2022, which are still in the required one-year alignment process to Coca-Cola FEMSA's standards. (1) All hazardous waste is either recycled, sent to compost or to incineration for energy recovery. (2) Our emissions and energy performance reflect all our operations and are calculated based on the SBTi methodology. (3) Our SBTi target does not include electricity from our customers’ cold beverage equipment. (4) Includes plants and distribution centers. In 2021, we obtained I-REC for the renewable energy supply of our operations, including plants and distribution centers. (5) From total assessments made by The Coca-Cola Company to significant suppliers identified. (6) Suppliers with a low performance evaluation: those who have been evaluated on several occasions and have not demonstrated a significant improvement. In-site audits are made in order to perform a root cause analysis and a period of time is given for improvements (otherwise the supplier will be penalized). (7) All suppliers assessed, no matter their performance evaluation, have an action plan. (8) All suppliers assessed participate in an ESG training program (minimum of 6 months) and additional suppliers were part of the Supplier Leadership Program for Climate Transition. (9) 2021 and 2022 does not include turnover at the Mexico Corporate Head Office. (10) The salary analysis does not consider unionized or tabulated (fixed value) employees. (11) CSM is a qualitative and quantitative index that measures customer service in commercial and distribution areas. In addition to this, we implement comprehensive measurement and listening tools, as well as standard cycles to attend customers’ requests. NA 0.8% 1.0% 23.0% 26.0% 28.0% 26.4% 15.9% 12.0% 7.0% 11.6% 13.0% NA NA NA NA NA 2.8% 3.4% NA 1,132 NA 12,293 22,187 88.1% 90.9% 91.2% OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 133 SASB CONTENT INDEX Table 1. Sustainability Disclosure Topics & Metrics Topic Fleet Fuel Management Fleet fuel consumed Accounting metric Energy Management Water Management Percentage renewable Operational energy consumed Percentage grid electricity Percentage renewable Total water withdrawn Total water consumed Percentage of each in regions with High or Extremely High Baseline Water Stress Code FB-NB-110a.1 FB-NB-130a.1 FB-NB-140a.1 Response Performance in detail Climate action Performance in detail Climate action Performance in detail Water stewardship Description of water management risks and discussion of strategies and practices to mitigate those risks FB-NB-140a.2 Foster a sustainable future Water stewardship Health & nutrition Revenue from zero- and low-calorie or energy-free and low-energy beverages Revenue from no-added-sugar beverages Revenue from artificially sweetened beverages Discussion of the process to identify and manage products and ingredients related to nutritional and health concerns among consumers FB-NB-260a.1 Not currently reported. FB-NB-260a.2 Grow the Core Coca-Cola FEMSA’s Commitment to Responsible Marketing, Informed Choices, and Quality OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 134 Topic Product Labelling & Marketing Accounting metric Percentage of advertising impressions (1) made on children and (2) made on children promoting products that meet dietary guidelines Code FB-NB-270a.1 Revenue from products labelled as (1) containing genetically modified organisms (GMOs) and (2) non-GMO Number of incidents of non-compliance with industry or regulatory labelling or marketing codes Total amount of monetary losses as a result of legal proceedings associated with marketing or labelling practices FB-NB-270a.2 FB-NB-270a.3 FB-NB-270a.4 Packaging Lifecycle Management Total weight of packaging Percentage made from recycled or renewable materials Percentage that is recyclable, reusable, or compostable Discussion of strategies to reduce the environmental impact of packaging throughout its lifecycle Environmental & Social Impacts of Ingredient Supply Chain Suppliers’ social and environmental responsibility audit (1) nonconformance rate and (2) associated corrective action rate for (a) major and (b) minor non-conformances FB-NB-410a.1 FB-NB-410a.2 FB-NB-430a.1 Ingredient Sourcing Percentage of beverage ingredients sourced from regions with High or Extremely High Baseline Water Stress FB-NB-440a.1 List of priority beverage ingredients and discussion of sourcing risks related to environmental and social considerations FB-NB-440a.2 Table 2. Activity Metrics Activity Metric Volume of products sold Number of production facilities Total fleet road kilometers travelled Code FB-NB-000.A FB-NB-000.B FB-NB-000.C Response Grow the Core Coca-Cola FEMSA’s Commitment to Responsible Marketing, Informed Choices, and Quality Not currently reported. Grow the Core Coca-Cola FEMSA’s Commitment to Responsible Marketing, Informed Choices, and Quality Performance in detail World without waste Foster a sustainable future World without waste Performance in detail Sustainable Sourcing Ethics and Governance Supply Chain Management Performance in detail Water stewardship Ethics and Governance Risk management Response Coca-Cola FEMSA at a Glance Our footprint Performance in detail Climate action OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 135 GRI CONTENT INDEX Disclosure GRI 2: General Disclosures 2021 2-1 Organizational details Response Coca-Cola FEMSA at a Glance Appendix Shareholder and Analyst Information About Our Integrated Report 2-2 Entities included in the organization’s sustainability reporting Appendix About Our Integrated Report 2-3 Reporting period, frequency and contact point Appendix Shareholder and Analyst Information About Our Integrated Report 2-4 Restatements of information 2-5 External assurance Information about any restatements is provided in the footnotes to the relevant data. Appendix Independent Limited Verification Report 2-6 Activities, value chain and other business relationships Coca-Cola FEMSA at a Glance 2-7 Employees 2-8 Workers who are not employees Foster a Sustainable Future Integral Employee Well-being Appendix Performance in detail 2-9 Governance structure and composition 2-10 Nomination and selection of the highest governance body Ethics and Governance Form 20-F and other reports: https://coca-colafemsa.com/en/investor-relations/reports-and-results/ 2-11 Chair of the highest governance body OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 136 Disclosure Response 2-12 Role of the highest governance body in overseeing the management of impacts Ethics and Governance Risk Management 2-13 Delegation of responsibility for managing impacts Appendix Task Force on Climate-Related Financial Disclosures Report The Risk Management Methodology at Coca-Cola FEMSA is based on criteria established in ISO 31000 and the Internal Control- Integrated Framework (ICIF-2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). The best practices are included in the methodology: description of the risk, likelihood and impact, description of risk appetite, prioritization of identified risks and description of mitigation action (control activities). These risks are evaluated and registered in a Risk and Controls Matrix. Besides the responsibilities of our CEO to manage and monitor the risk management process, our CFO has dedicated risk management responsibility on an operational level and our Administration and Corporate Control Officer (who reports directly to FEMSA’s audit committee) has the responsibility for monitoring and auditing risk management performance on an operational level. 2-14 Role of the highest governance body in sustainability reporting Ethics and Governance Foster a Sustainable Future Our Sustainability Priorities 2-15 Conflicts of interest Form 20-F and other reports: https://coca-colafemsa.com/en/investor-relations/reports-and-results/ 2-16 Communication of critical concerns Ethics and Governance Nurturing a Culture of Psychological Safety Through Our Comprehensive Ethical System 2-17 Collective knowledge of the highest governance body Ethics and Governance Code of Conduct: https://coca-colafemsa.com/wp-content/uploads/2022/09/KOF_Codigo_de_etica_english_ALTA_sep_2022.pdf 2-18 Evaluation of the performance of the highest governance body Form 20-F and other reports: https://coca-colafemsa.com/en/investor-relations/reports-and-results/ 2-19 Remuneration policies 2-20 Process to determine remuneration 2-21 Annual total compensation ratio Ethics and Governance Not currently reported 2-22 Statement on sustainable development strategy Letter to Our Stakeholders OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 137 Disclosure 2-23 Policy commitments 2-24 Embedding policy commitments 2-25 Processes to remediate negative impacts Response Please see the following sections for references to our policies and commitments: Grow the Core Coca-Cola FEMSA’s Commitment to Responsible Marketing, Informed Choices, and Quality Foster a Sustainable Future Water stewardship World Without Waste Integral Employee Well-being Ethics and Governance Nurturing a Culture of Psychological Safety Through Our Comprehensive Ethical System Respect for Human Rights Cybersecurity Supply Chain Management Ethics and Governance Nurturing a Culture of Psychological Safety Through Our Comprehensive Ethical System Performance in detail Climate action Ethics and Governance 2-26 Mechanisms for seeking advice and raising concerns 2-27 Compliance with laws and regulations 2-28 Membership associations → Associations and Memberships 2-29 Approach to stakeholder engagement Foster a Sustainable Future Coca-Cola FEMSA’s Path to Sustainable and Inclusive Growth 2-30 Collective bargaining agreements GRI 3: Material Topics 2021 3-1 Process to determine material topics 3-2 List of material topics Appendix Capital and Company Engagement Foster a Sustainable Future Integral Employee Well-being Appendix Performance in detail Foster a Sustainable Future Our Sustainability Priorities OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 138 Disclosure 3-3 Management of material topics Response Our material topics are integrated in our Sustainability Framework. For detail on the management of each material topic, please see its corresponding section of our Annual Report with a focus on: Grow the Core Foster a Sustainable Future Ethics and Governance GRI 201: Economic Performance 2016 201-1 Direct economic value generated and distributed Appendix Financial Highlights 201-2 Financial implications and other risks and opportunities due to climate change Appendix Task Force on Climate-Related Financial Disclosures Report GRI 203: Indirect Economic Impacts 2016 203-1 Infrastructure investments and services supported GRI 204: Procurement Practices 2016 204-1 Proportion of spending on local suppliers Foster a Sustainable Future Water Stewardship World Without Waste Integral Employee Well-being Community Development Ethics and Governance Supply Chain Management Appendix Performance in detail GRI 205: Anti-corruption 2016 205-2 Communication and training about anti-corruption policies and procedures Ethics and Governance Nurturing a Culture of Psychological Safety Through Our Comprehensive Ethical System 205-3 Confirmed incidents of corruption and actions taken Appendix Performance in detail OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 139 Disclosure GRI 301: Materials 2016 301-1 Materials used by weight or volume 301-2 Recycled input materials used 301-3 Reclaimed products and their packaging materials GRI 302: Energy 2016 302-1 Energy consumption within the organization 302-3 Energy intensity 302-4 Reduction of energy consumption 302-5 Reductions in energy requirements of products and services GRI 303: Water and Effluents 2018 Response Coca-Cola FEMSA at a Glance Our Sustainability Goals Foster a Sustainable Future World Without Waste Appendix Performance in detail Foster a Sustainable Future Climate Action Appendix Performance in detail 303-1 Interactions with water as a shared resource 303-2 Management of water discharge-related impacts Foster a Sustainable Future Water Stewardship 303-3 Water withdrawal 303-4 Water discharge 303-5 Water consumption Appendix Performance in detail All water discharged is measured against The Coca-Cola Company’s standard requirements and those required per countries’ regulations. We always use approved methods, calibrated equipment, and defined frequencies. Some of our limits within the water discharged parameters are BOD <50 mg/L, Phosphorus <2 mg/L, Total Nitrogen <5 mg/L, Temperature variation (receiving water) ≤5 °C, Dissolved oxygen >4 mg/L, pH 6.5 to 8, and Total Suspended Solids <50 mg/L. The analysis of water quality is performed quarterly unless regulations require more frequent analysis. All production facilities have their own control to ensure the quality of discharged water. GRI 304: Biodiversity 2016 304-1 Operational sites owned, leased, managed in, or adjacent to, protected areas and areas of high biodiversity value outside protected areas Foster a Sustainable Future Water Stewardship 304-3 Habitats protected or restored OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 140 Disclosure GRI 305: Emissions 2016 305-1 Direct (Scope 1) GHG emissions 305-2 Energy indirect (Scope 2) GHG emissions 305-3 Other indirect (Scope 3) GHG emissions 305-4 GHG emissions intensity 305-5 Reduction of GHG emissions Response Coca-Cola FEMSA at a Glance Our Sustainability Goals Foster a Sustainable Future Climate Action Appendix Performance in detail GRI 306: Waste 2020 306-1 Waste generation and significant waste-related impacts 306-2 Management of significant waste-related impacts Coca-Cola FEMSA at a Glance Our Sustainability Goals 306-3 Waste generated 306-4 Waste diverted from disposal 306-5 Waste directed to disposal Foster a Sustainable Future World Without Waste Appendix Performance in detail GRI 308: Supplier Environmental Assessment 2016 308-1 New suppliers that were screened using environmental criteria Ethics and Governance Supply Chain Management 308-2 Negative environmental impacts in the supply chain and actions taken Appendix Performance in detail GRI 401: Employment 2016 401-1 New employee hires and employee turnover 401-2 Benefits provided to full-time employees that are not provided to temporary or part-time employees 401-3 Parental leave Foster a Sustainable Future Internal Employee Well-being Appendix Performance in detail Minimum number of weeks of fully paid maternity leave are 12 and minimum number of weeks of paternity leave are 2. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 141 Disclosure Response GRI 402: Labor/Management Relations 2016 402-1 Minimum notice periods regarding operational changes Notices of significant operational changes are done in compliance with applicable laws in the countries where we operate. GRI 403: Occupational Health and Safety 2018 403-1 Occupational health and safety management system 403-2 Hazard identification, risk assessment, and incident investigation 403-3 Occupational health services Coca-Cola FEMSA at a Glance Our Sustainability Goals Foster a Sustainable Future Integral Employee Well-being 403-4 Worker participation, consultation, and communication on occupational health and safety 403-5 Worker training on occupational health and safety Appendix Performance in detail 403-6 Promotion of worker health 403-7 Prevention and mitigation of occupational health and safety impacts directly linked by business relationships 403-8 Workers covered by an occupational health and safety management system 403-9 Work-related injuries 403-10 Work-related ill health GRI 404: Training and Education 2016 404-1 Average hours of training per year per employee 404-2 Programs for upgrading employee skills and transition assistance programs 404-3 Percentage of employees receiving regular performance and career development reviews Foster a Sustainable Future Integral Employee Well-being Appendix Performance in detail OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 14 2 Disclosure Response GRI 405: Diversity and Equal Opportunity 2016 405-1 Diversity of governance bodies and employees 405-2 Ratio of basic salary and remuneration of women to men Ethics and Governance Board of Directors Foster a Sustainable Future Integral Employee Well-being Appendix Performance in detail GRI 406: Non-discrimination 2016 406-1 Incidents of discrimination and corrective actions taken Ethics and Governance Nurturing a Culture of Psychological Safety Through Our Comprehensive Ethical System Incidents of discrimination are reported within Human Resources complaints in the Ethics Line. GRI 407: Freedom of Association and Collective Bargaining 2016  407-1 Operations and suppliers in which the right to freedom of association and collective bargaining may be at risk None of our operations have compromised our workers’ right to freedom of association. As part of our commitment, FEMSA and Coca-Cola FEMSA published a general consultation of our Labor & Human Rights policy, in which we state: “3. Freedom of Association and Trade-Union Freedom: We respect the right of Employees to freedom of association or affiliation to a labor union, as well as the right to form or join, voluntarily and freely, a labor union without fear of retaliation or intimidation. We respect the autonomy, institutionally, internal administration and ancestry that trade union organizations have with their members. We attend to the collective work relations with the legitimate trade union organizations that affiliate and represent their Employees”. https://coca-colafemsa.com/wp-content/uploads/2022/02/Human-and-Labor-Rights_v3.pdf GRI 408: Child Labor 2016 408-1 Operations and suppliers at significant risk for incidents of child labor Ethics and Governance Supply Chain Management We value, respect, and protect the people who work at Coca-Cola FEMSA and do not allow child labor. We comply with all child labor laws and support the eradication of child labor and exploitation. We expect the same ethical conduct from our business partners. OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 143 Disclosure Response GRI 409: Forced or Compulsory Labor 2016 409-1 Operations and suppliers at significant risk for incidents of forced or compulsory labor Ethics and Governance Supply Chain Management We value, respect, and protect the people who work at Coca-Cola FEMSA and do not allow forced labor. We comply with all labor laws and support the eradication of forced or compulsory labor. We expect the same ethical conduct from our business partners. GRI 413: Local Communities 2016 413-1 Operations with local community engagement, impact assessments, and development programs Foster a Sustainable Future Community Development GRI 414: Supplier Social Assessment 2016 414-1 New suppliers that were screened using social criteria 414-2 Negative social impacts in the supply chain and actions taken Appendix Performance in detail Ethics and Governance Supply Chain Management Appendix Performance in detail OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 144 INDEPENDENT LIMITED ASSURANCE REPORT (cid:68)(cid:4)(cid:24)(cid:90)(cid:47)(cid:24)(cid:3)(cid:882)(cid:3)(cid:4)(cid:3)(cid:18)(cid:75)(cid:90)(cid:104)(cid:72)(cid:4)(cid:3) (cid:4)(cid:68)(cid:94)(cid:100)(cid:28)(cid:90)(cid:24)(cid:4)(cid:68)(cid:3)–(cid:3)(cid:62)(cid:75)(cid:69)(cid:24)(cid:90)(cid:28)(cid:94)(cid:3)–(cid:3)(cid:87)(cid:4)(cid:90)(cid:47)(cid:94)(cid:3)(cid:882)(cid:3)(cid:47)(cid:94)(cid:100)(cid:4)(cid:69)(cid:17)(cid:104)(cid:62)(cid:3)(cid:3) (cid:18)(cid:47)(cid:104)(cid:24)(cid:4)(cid:24)(cid:3)(cid:24)(cid:28)(cid:3)(cid:68)(cid:30)(cid:121)(cid:47)(cid:18)(cid:75)(cid:3)–(cid:3)(cid:18)(cid:47)(cid:104)(cid:24)(cid:4)(cid:24)(cid:3)(cid:24)(cid:28)(cid:3)(cid:87)(cid:4)(cid:69)(cid:4)(cid:68)(cid:6)(cid:3)–(cid:3)(cid:18)(cid:47)(cid:104)(cid:24)(cid:4)(cid:24)(cid:3)(cid:24)(cid:28)(cid:3)(cid:39)(cid:104)(cid:4)(cid:100)(cid:28)(cid:68)(cid:4)(cid:62)(cid:4)(cid:3)–(cid:3)(cid:89)(cid:104)(cid:47)(cid:100)(cid:75)(cid:3) (cid:3) (cid:3) (cid:3) (cid:3) (cid:3) (cid:100)(cid:381)(cid:3)(cid:410)(cid:346)(cid:286)(cid:3)(cid:17)(cid:381)(cid:258)(cid:396)(cid:282)(cid:3)(cid:381)(cid:296)(cid:3)(cid:24)(cid:349)(cid:396)(cid:286)(cid:272)(cid:410)(cid:381)(cid:396)(cid:400)(cid:3)(cid:381)(cid:296)(cid:3)(cid:18)(cid:381)(cid:272)(cid:258)(cid:3)(cid:18)(cid:381)(cid:367)(cid:258)(cid:3)(cid:38)(cid:28)(cid:68)(cid:94)(cid:4)(cid:853)(cid:3)(cid:94)(cid:856)(cid:4)(cid:856)(cid:17)(cid:3)(cid:282)(cid:286)(cid:3)(cid:18)(cid:856)(cid:115)(cid:856)(cid:3)(cid:894)(cid:346)(cid:286)(cid:396)(cid:286)(cid:349)(cid:374)(cid:258)(cid:296)(cid:410)(cid:286)(cid:396)(cid:3)“KOF”),(cid:3) 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(cid:4)(cid:272)(cid:272)(cid:381)(cid:396)(cid:282)(cid:349)(cid:374)(cid:336)(cid:3)(cid:410)(cid:381)(cid:3)(cid:455)(cid:381)(cid:437)(cid:396)(cid:3)(cid:396)(cid:286)(cid:395)(cid:437)(cid:286)(cid:400)(cid:410)(cid:853)(cid:3)(cid:449)(cid:286)(cid:3)(cid:346)(cid:258)(cid:448)(cid:286)(cid:3)(cid:271)(cid:286)(cid:286)(cid:374)(cid:3)(cid:286)(cid:374)(cid:336)(cid:258)(cid:336)(cid:286)(cid:282)(cid:3)(cid:410)(cid:381)(cid:3)(cid:393)(cid:396)(cid:381)(cid:448)(cid:349)(cid:282)(cid:286)(cid:3)(cid:258)(cid:3)(cid:367)(cid:349)(cid:373)(cid:349)(cid:410)(cid:286)(cid:282)(cid:3)(cid:367)(cid:286)(cid:448)(cid:286)(cid:367)(cid:3)(cid:381)(cid:296)(cid:3)(cid:258)(cid:400)(cid:400)(cid:437)(cid:396)(cid:258)(cid:374)(cid:272)(cid:286)(cid:3)(cid:381)(cid:374)(cid:3)(cid:410)(cid:346)(cid:286)(cid:3)(cid:393)(cid:286)(cid:396)(cid:296)(cid:381)(cid:396)(cid:373)(cid:258)(cid:374)(cid:272)(cid:286)(cid:3)(cid:349)(cid:374)(cid:282)(cid:349)(cid:272)(cid:258)(cid:410)(cid:381)(cid:396)(cid:400)(cid:3)(cid:400)(cid:286)(cid:367)(cid:286)(cid:272)(cid:410)(cid:286)(cid:282)(cid:3)(cid:271)(cid:455)(cid:3)(cid:60)(cid:75)(cid:38)(cid:854)(cid:3) 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(cid:3) (cid:3) (cid:87)(cid:286)(cid:396)(cid:296)(cid:381)(cid:396)(cid:373)(cid:258)(cid:374)(cid:272)(cid:286)(cid:3)(cid:349)(cid:374)(cid:282)(cid:349)(cid:272)(cid:258)(cid:410)(cid:381)(cid:396)(cid:400)(cid:3) (cid:39)(cid:90)(cid:47)(cid:3)(cid:876)(cid:3) (cid:47)(cid:24)(cid:1005)(cid:3) (cid:69)(cid:258)(cid:373)(cid:286)(cid:3)(cid:381)(cid:296)(cid:3)(cid:410)(cid:346)(cid:286)(cid:3) (cid:282)(cid:349)(cid:400)(cid:272)(cid:367)(cid:381)(cid:400)(cid:437)(cid:396)(cid:286)(cid:3)(cid:381)(cid:396)(cid:3) (cid:393)(cid:286)(cid:396)(cid:296)(cid:381)(cid:396)(cid:373)(cid:258)(cid:374)(cid:272)(cid:286)(cid:3) (cid:349)(cid:374)(cid:282)(cid:349)(cid:272)(cid:258)(cid:410)(cid:381)(cid:396)(cid:3) (cid:47)(cid:24)(cid:3) (cid:28)(cid:373)(cid:393)(cid:367)(cid:381)(cid:455)(cid:286)(cid:286)(cid:400)(cid:3) (cid:94)(cid:272)(cid:381)(cid:393)(cid:286)(cid:3)(cid:381)(cid:296)(cid:3) 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(cid:381)(cid:393)(cid:286)(cid:396)(cid:258)(cid:410)(cid:349)(cid:381)(cid:374)(cid:400)(cid:3) (cid:69)(cid:4)(cid:3) (cid:47)(cid:24)(cid:3) (cid:47)(cid:24)(cid:3) (cid:87)(cid:286)(cid:396)(cid:272)(cid:286)(cid:374)(cid:410)(cid:258)(cid:336)(cid:286)(cid:3)(cid:381)(cid:296)(cid:3) (cid:286)(cid:373)(cid:393)(cid:367)(cid:381)(cid:455)(cid:286)(cid:286)(cid:400)(cid:3)(cid:393)(cid:286)(cid:396)(cid:3) (cid:336)(cid:286)(cid:374)(cid:282)(cid:286)(cid:396)(cid:3) (cid:4)(cid:367)(cid:367)(cid:3)(cid:60)(cid:75)(cid:38)(cid:3) (cid:381)(cid:393)(cid:286)(cid:396)(cid:258)(cid:410)(cid:349)(cid:381)(cid:374)(cid:400)(cid:3) (cid:87)(cid:286)(cid:396)(cid:272)(cid:286)(cid:374)(cid:410)(cid:258)(cid:336)(cid:286)(cid:3)(cid:381)(cid:296)(cid:3) (cid:286)(cid:373)(cid:393)(cid:367)(cid:381)(cid:455)(cid:286)(cid:286)(cid:400)(cid:3)(cid:393)(cid:286)(cid:396)(cid:3)(cid:258)(cid:336)(cid:286)(cid:3) (cid:336)(cid:396)(cid:381)(cid:437)(cid:393)(cid:3) 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(cid:393)(cid:381)(cid:400)(cid:349)(cid:410)(cid:349)(cid:381)(cid:374)(cid:400)(cid:3) (cid:38)(cid:286)(cid:373)(cid:258)(cid:367)(cid:286)(cid:3)(cid:349)(cid:374)(cid:3)(cid:94)(cid:100)(cid:28)(cid:68)(cid:3) (cid:393)(cid:381)(cid:400)(cid:349)(cid:410)(cid:349)(cid:381)(cid:374)(cid:400)(cid:3)(cid:381)(cid:437)(cid:410)(cid:3)(cid:381)(cid:296)(cid:3)(cid:410)(cid:381)(cid:410)(cid:258)(cid:367)(cid:3) (cid:94)(cid:100)(cid:28)(cid:68)(cid:3)(cid:393)(cid:381)(cid:400)(cid:349)(cid:410)(cid:349)(cid:381)(cid:374)(cid:400)(cid:3) (cid:90)(cid:286)(cid:400)(cid:349)(cid:374)(cid:3)(cid:373)(cid:258)(cid:410)(cid:286)(cid:396)(cid:349)(cid:258)(cid:367)(cid:400)(cid:3)(cid:437)(cid:400)(cid:286)(cid:282)(cid:3) (cid:271)(cid:455)(cid:3)(cid:449)(cid:286)(cid:349)(cid:336)(cid:346)(cid:410)(cid:3)(cid:894)(cid:100)(cid:381)(cid:374)(cid:400)(cid:3)(cid:381)(cid:296)(cid:3) (cid:396)(cid:286)(cid:272)(cid:455)(cid:272)(cid:367)(cid:286)(cid:282)(cid:3)(cid:87)(cid:28)(cid:100)(cid:3) (cid:4)(cid:367)(cid:367)(cid:3)(cid:60)(cid:75)(cid:38)(cid:3) (cid:381)(cid:393)(cid:286)(cid:396)(cid:258)(cid:410)(cid:349)(cid:381)(cid:374)(cid:400)(cid:3) (cid:4)(cid:367)(cid:367)(cid:3)(cid:60)(cid:75)(cid:38)(cid:3) (cid:381)(cid:393)(cid:286)(cid:396)(cid:258)(cid:410)(cid:349)(cid:381)(cid:374)(cid:400)(cid:3) (cid:4)(cid:367)(cid:367)(cid:3)(cid:60)(cid:75)(cid:38)(cid:3) (cid:381)(cid:393)(cid:286)(cid:396)(cid:258)(cid:410)(cid:349)(cid:381)(cid:374)(cid:400)(cid:3) (cid:3) (cid:69)(cid:4)(cid:3) (cid:69)(cid:4)(cid:3) (cid:69)(cid:4)(cid:3) 1 Own performance indicator based on GRI. 2 The information reported does not include the operation in Venezuela. (cid:4)(cid:374)(cid:374)(cid:286)(cid:454)(cid:3)(cid:4)(cid:856)(cid:3) (cid:90)(cid:286)(cid:393)(cid:381)(cid:396)(cid:410)(cid:286)(cid:282)(cid:3) (cid:349)(cid:374)(cid:296)(cid:381)(cid:396)(cid:373)(cid:258)(cid:410)(cid:349)(cid:381)(cid:374)(cid:3) (cid:104)(cid:374)(cid:349)(cid:410)(cid:3) (cid:1012)(cid:1010)(cid:853)(cid:1012)(cid:1005)(cid:1005)(cid:3) (cid:1008)(cid:1013)(cid:853)(cid:1006)(cid:1006)(cid:1008)(cid:3) (cid:1006)(cid:1008)(cid:853)(cid:1004)(cid:1013)(cid:1004)(cid:3) (cid:1005)(cid:853)(cid:1007)(cid:1009)(cid:1012)(cid:3) (cid:1007)(cid:853)(cid:1006)(cid:1008)(cid:1006)(cid:3) (cid:1012)(cid:1005)(cid:1013)(cid:3) (cid:1005)(cid:853)(cid:1007)(cid:1006)(cid:1011)(cid:3) (cid:1010)(cid:1012)(cid:1010)(cid:3) (cid:1007)(cid:853)(cid:1008)(cid:1012)(cid:1006)(cid:3) (cid:1006)(cid:853)(cid:1009)(cid:1012)(cid:1007)(cid:3) (cid:1012)(cid:1008)(cid:3) (cid:1005)(cid:1010)(cid:3) (cid:1007)(cid:1008)(cid:3) (cid:1007)(cid:1011)(cid:3) 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(cid:393)(cid:381)(cid:400)(cid:349)(cid:410)(cid:349)(cid:381)(cid:374)(cid:400)(cid:3)(cid:381)(cid:437)(cid:410)(cid:3)(cid:381)(cid:296)(cid:3)(cid:410)(cid:381)(cid:410)(cid:258)(cid:367)(cid:3)(cid:94)(cid:100)(cid:28)(cid:68)(cid:3)(cid:393)(cid:381)(cid:400)(cid:349)(cid:410)(cid:349)(cid:381)(cid:374)(cid:400)(cid:3) (cid:1007)(cid:1007)(cid:1005)(cid:856)(cid:1012)(cid:1010)(cid:3) (cid:1006)(cid:1006)(cid:1005)(cid:856)(cid:1013)(cid:1011)(cid:3) (cid:100)(cid:381)(cid:410)(cid:258)(cid:367)(cid:3)(cid:396)(cid:286)(cid:400)(cid:349)(cid:374)(cid:3)(cid:349)(cid:374)(cid:3)(cid:364)(cid:349)(cid:367)(cid:381)(cid:410)(cid:381)(cid:374)(cid:400)(cid:3) (cid:115)(cid:349)(cid:396)(cid:336)(cid:349)(cid:374)(cid:3)(cid:396)(cid:286)(cid:400)(cid:349)(cid:374)(cid:3)(cid:349)(cid:374)(cid:3)(cid:364)(cid:349)(cid:367)(cid:381)(cid:410)(cid:381)(cid:374)(cid:400)(cid:3) OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 145 INDEPENDENT LIMITED ASSURANCE REPORT (cid:94)(cid:272)(cid:381)(cid:393)(cid:286)(cid:3)(cid:381)(cid:296)(cid:3) (cid:349)(cid:374)(cid:296)(cid:381)(cid:396)(cid:373)(cid:258)(cid:410)(cid:349)(cid:381)(cid:374)(cid:3)(cid:1006)(cid:3) (cid:18)(cid:381)(cid:373)(cid:393)(cid:367)(cid:349)(cid:258)(cid:374)(cid:272)(cid:286)(cid:3)(cid:367)(cid:286)(cid:448)(cid:286)(cid:367)(cid:3) (cid:381)(cid:296)(cid:3)(cid:39)(cid:90)(cid:47)(cid:3)(cid:272)(cid:381)(cid:374)(cid:410)(cid:286)(cid:374)(cid:410)(cid:3) (cid:894)(cid:272)(cid:367)(cid:258)(cid:437)(cid:400)(cid:286)(cid:400)(cid:895)(cid:3) (cid:90)(cid:286)(cid:393)(cid:381)(cid:396)(cid:410)(cid:286)(cid:282)(cid:3) (cid:349)(cid:374)(cid:296)(cid:381)(cid:396)(cid:373)(cid:258)(cid:410)(cid:349)(cid:381)(cid:374)(cid:3) (cid:104)(cid:374)(cid:349)(cid:410)(cid:3) (cid:1005)(cid:1004)(cid:1013)(cid:856)(cid:1012)(cid:1013)(cid:3) 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(cid:3) (cid:3) OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 146 INDEPENDENT REASONABLE ASSURANCE REPORT (cid:68)(cid:4)(cid:24)(cid:90)(cid:47)(cid:24)(cid:3)(cid:882)(cid:3)(cid:4)(cid:3)(cid:18)(cid:75)(cid:90)(cid:104)(cid:72)(cid:4)(cid:3) (cid:4)(cid:68)(cid:94)(cid:100)(cid:28)(cid:90)(cid:24)(cid:4)(cid:68)(cid:3)–(cid:3)(cid:62)(cid:75)(cid:69)(cid:24)(cid:90)(cid:28)(cid:94)(cid:3)–(cid:3)(cid:87)(cid:4)(cid:90)(cid:47)(cid:94)(cid:3)(cid:882)(cid:3)(cid:47)(cid:94)(cid:100)(cid:4)(cid:69)(cid:17)(cid:104)(cid:62)(cid:3)(cid:3) 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included in the “Integrated Report 2023” (hereinafter “Integrated Report”) and mentioned in “Annex A”(cid:3)(cid:296)(cid:381)(cid:396)(cid:3)(cid:410)(cid:346)(cid:286)(cid:3)(cid:296)(cid:349)(cid:400)(cid:272)(cid:258)(cid:367)(cid:3)(cid:455)(cid:286)(cid:258)(cid:396)(cid:3)(cid:296)(cid:396)(cid:381)(cid:373)(cid:3)(cid:58)(cid:258)(cid:374)(cid:437)(cid:258)(cid:396)(cid:455)(cid:3)(cid:1005)(cid:3) (cid:410)(cid:381)(cid:3)(cid:24)(cid:286)(cid:272)(cid:286)(cid:373)(cid:271)(cid:286)(cid:396)(cid:3)(cid:1007)(cid:1005)(cid:853)(cid:3)(cid:1006)(cid:1004)(cid:1006)(cid:1007)(cid:856)(cid:3) (cid:60)(cid:75)(cid:38)(cid:3)(cid:396)(cid:286)(cid:400)(cid:393)(cid:381)(cid:374)(cid:400)(cid:349)(cid:271)(cid:349)(cid:367)(cid:349)(cid:410)(cid:349)(cid:286)(cid:400)(cid:3) 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(cid:3) OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 147 INDEPENDENT REASONABLE ASSURANCE REPORT SOCIAL BOND (cid:68)(cid:4)(cid:24)(cid:90)(cid:47)(cid:24)(cid:3)(cid:882)(cid:3)(cid:4)(cid:3)(cid:18)(cid:75)(cid:90)(cid:104)(cid:72)(cid:4)(cid:3) (cid:4)(cid:68)(cid:94)(cid:100)(cid:28)(cid:90)(cid:24)(cid:4)(cid:68)(cid:3)–(cid:3)(cid:62)(cid:75)(cid:69)(cid:24)(cid:90)(cid:28)(cid:94)(cid:3)–(cid:3)(cid:87)(cid:4)(cid:90)(cid:47)(cid:94)(cid:3)(cid:882)(cid:3)(cid:47)(cid:94)(cid:100)(cid:4)(cid:69)(cid:17)(cid:104)(cid:62)(cid:3)(cid:3) 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(cid:1012)(cid:853)(cid:1007)(cid:1005)(cid:1013)(cid:853)(cid:1005)(cid:1004)(cid:1013)(cid:3) (cid:1005)(cid:1012)(cid:853)(cid:1013)(cid:1008)(cid:1011)(cid:853)(cid:1009)(cid:1013)(cid:1007)(cid:3) (cid:1005)(cid:1007)(cid:853)(cid:1011)(cid:1008)(cid:1010)(cid:853)(cid:1008)(cid:1008)(cid:1008)(cid:3) (cid:1008)(cid:1005)(cid:853)(cid:1004)(cid:1005)(cid:1007)(cid:853)(cid:1005)(cid:1008)(cid:1010)(cid:3) (cid:104)(cid:374)(cid:349)(cid:410)(cid:3) (cid:104)(cid:94)(cid:24)(cid:3) (cid:104)(cid:94)(cid:24)(cid:3) (cid:104)(cid:94)(cid:24)(cid:3) (cid:104)(cid:94)(cid:24)(cid:3) OVERVIEW STRATEGIC PRIORITIES SUSTAINABILITY ETHICS AND GOVERNANCE APPENDICES COC A-COLA FEMSA | 2 023 IN T E GR AT E D RE P OR T | 149 SHAREHOLDER & ANALYST INFORMATION INVESTOR RELATIONS Jorge Collazo Lorena Martín Marene Aranzabal Emilio Villacís kofmxinves@kof.com.mx SUSTAINABILITY Jordi Cueto-Felgueroso Carolina Vásquez sostenibilidad@kof.com.mx CORPORATE COMMUNICATION Luis Carrillo Daniel Insulza Aldana Solano LEGAL COUNSEL OF THE COMPANY Carlos L. Díaz Sáenz Mario Pani Nº 100 Col. Santa Fe Cuajimalpa 05348, Ciudad de Mexico, Mexico. Phone: (52 55) 1519 5000 INDEPENDENT ACCOUNTANTS Mancera, S.C. A member firm of Ernst & Young Global Antara Polanco Av. Ejército Nacional Torre Paseo 843-B Piso 4 Colonia Granada 11520 Ciudad de Mexico, Mexico Phone: (52 55) 5283 1400 STOCK EXCHANGE INFORMATION Coca-Cola FEMSA’s common stock is traded on the Bolsa Mexicana de Valores (the Mexican Stock Exchange) under the symbol KOFUBL and on the New York Stock Exchange, Inc. (NYSE) and Bolsa Institucional de Valores under the symbol KOF. TRANSFER AGENT AND REGISTRAR Bank of New York Bank of New York 101 Barclay Street 22W New York, New York 10286, U.S.A COCA-COLA FEMSA, S.A.B. DE C.V. Mario Pani N° 100 Col. Santa Fe Cuajimalpa 05348, Ciudad de Mexico, Mexico (52 55) 1519 5000 KOF NEW YORK STOCK EXCHANGE Quarterly Stock Information U.S. Dollars per ADS Quarter ended Dec-29 Sep-29 Jun-30 Mar-31 $ High 95.4 79.81 83.85 81.86 $ Low 94.4 77.77 82.15 80.17 2023 $ Close 94.64 78.44 83.31 80.47 KOFUBL MEXICAN STOCK EXCHANGE Quarterly Stock Information Mexican Pesos Quarter ended Dec-29 Sep-29 Jun-30 Mar-31 $ Low 159.7 135.64 140.58 144.18 $ High 161.61 138.21 143.33 147.34 2023 $ Close 160.97 136.78 143.08 144.73 U.S. Dollars per ADS Quarter ended Dec-29 Sep-29 Jun-30 Mar-31 $ High 68.91 59.15 56.23 55.15 $ Low 67.49 57.65 54.64 53.40 2022 $ Close 67.88 58.39 55.28 54.95 Mexican Pesos Quarter ended Dec-29 Sep-29 Jun-30 Mar-31 $ High 133.22 118.81 113.16 109.80 $ Low 131.05 116.02 110.56 106.28 2022 $ Close 131.84 117.67 111.34 109.53 ABOUT OUR INTEGRATED REPORT From our headquarters in Mexico City, we present the 2023 edition of our Integrated Report. This report was developed following the guidelines of the International Integrated Reporting Council (IIRC) and in accordance with the GRI (Global Reporting Initiative) Standards, as well as material indicators of the SASB (Sustainability Accounting Standards Board) for the Non-Alcoholic Beverage Industry. The information contained in this report corresponds to the period from January 1 to December 31, 2023. It includes data from the countries where Coca-Cola FEMSA, S.A.B. de C.V. has operations or a majority share. Its operations encompass franchise territories in Mexico, Brazil, Guatemala, Colombia, and Argentina, and, nationwide, in Costa Rica, Nicaragua, Panama, and Uruguay. The company is a member of the Dow Jones Sustainability MILA Pacific Alliance Index, FTSE4Good Emerging Index, and the S&P/BMV Total Mexico ESG Index, among others. CHIEF FINANCIAL OFFICER GERARDO CRUZ CELAYA 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 leading brands to a population of more than 272 million. With over 86 thousand employees, the company markets and sells approximately 4.0 billion unit cases through more than 2.1 million points of sale a year. Operating 56 manufacturing plants and 252 distribution centers, Coca-Cola FEMSA is committed to generating economic, so- cial, and environmental value for all of its stakeholders across the value chain. The com- pany is a member of Dow Jones Sustainability MILA Pacific Alliance Index, FTSE4Good Emerging Index, and the S&P/BMV Total Mexico ESG Index, among others. Its operations encompass franchise territories in Mexico, Brazil, Guatemala, Colombia, and Argentina, and, nationwide, in Costa Rica, Nicaragua, Panama, Uruguay, and in Venezuela through its investment in KOF Venezuela. For further information, please visit www.coca-colafemsa.com 1. For comparability purposes, the non-financial quantitative data for 2022, 2021, 2020, 2019, and 2018 is represented without Venezuela, since as of December 31, 2017, Venezuela is a deconsolidated operation reported as an investment in shares. Moreover, the 2017 information is represented without the Philippines. 2. References herein to “Mexican pesos” or “Ps.” are to the lawful currency of the United Mexican States, or Mexico 

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