FORWARD-LOOKING STATEMENTS

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2 FORWARD-LOOKING STATEMENTS This document may contain statements, estimates or projections that constitute forward-looking statements concerning the financial condition, performance, results, strategy and objectives of Coca-Cola European Partners plc and its subsidiaries ( CCEP ). Generally, the words believe, expect, intend, estimate, anticipate, project, plan, seek, may, could, would, should, might, will, forecast, outlook, guidance, possible, potential, predict and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from CCEP s historical experience and its present expectations or projections. These risks and uncertainties include, but are not limited to, obesity concerns; water scarcity and poor quality; evolving consumer preferences; increased competition and capabilities in the marketplace; product safety and quality concerns; perceived negative health consequences of certain ingredients, such as non-nutritive sweeteners and biotechnology-derived substances, and of other substances present in CCEP s beverage products or packaging materials; increased demand for food products and decreased agricultural productivity; changes in the retail landscape or the loss of key retail or foodservice customers; fluctuations in foreign currency exchange rates; fluctuations in the stability of the Euro; interest rate increases; an inability of CCEP to maintain good relationships with its partners; a deterioration in its partners financial condition; increases in income tax rates, changes in income tax laws or unfavourable resolution of tax matters; increased or new indirect taxes in CCEP s tax jurisdictions; increased cost, disruption of supply or shortage of energy or fuels; increased cost, disruption of supply or shortage of ingredients, other raw materials or packaging materials; changes in laws and regulations relating to beverage containers and packaging; significant additional labelling or warning requirements or limitations on the availability of CCEP s products; an inability of CCEP to protect its information systems against service interruption, misappropriation of data or breaches of security; unfavourable general economic or political conditions in Europe or elsewhere; the United Kingdom s exit from the European Union; litigation or legal proceedings; non-compliance with anti-corruption laws and regulations and economic sanctions programmes; adverse weather conditions; climate change; damage to CCEP s brand images and corporate reputation from negative publicity, even if unwarranted, related to product safety or quality, human and workplace rights, obesity or other issues; changes in, or failure to comply with, the laws and regulations applicable to CCEP s products or business operations; changes in accounting standards; an inability of CCEP to achieve its overall long-term growth objectives; deterioration of global credit market conditions; default by or failure of one or more of CCEP s counterparty financial institutions; fluctuations in CCEP s debt rating; an inability to timely implement any previously announced actions to reinvigorate growth, or to realise the economic benefits CCEP anticipates from these actions; failure to realise a significant portion of the anticipated benefits of strategic relationships, including (without limitation) The Coca-Cola Company s relationship with Monster Beverage Corporation; an inability to renew collective bargaining agreements on satisfactory terms, or CCEP or its partners experience strikes, work stoppages or labour unrest; future impairment charges; an inability to realise business integration and synergy savings; an inability to successfully manage the possible negative consequences of productivity initiatives; global or regional catastrophic events; and other risks discussed in the reports that CCEP files with the U.S. Securities and Exchange Commission. Due to these risks and uncertainties, CCEP s actual future results, dividend payments, and capital and leverage ratios may differ materially from the plans, goals, expectations and guidance set out in CCEP s forward-looking statements. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. CCEP does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required under applicable rules, laws and regulations. CCEP assumes no responsibility for the accuracy and completeness of any forward-looking statements. Any or all of the forward-looking statements contained in this filing and in any other of CCEP s public statements may prove to be incorrect. RECONCILIATION TO GAAP FINANCIAL INFORMATION The following presentation includes certain alternative performance measures, or non-gaap performance measures. Refer to our Preliminary Unaudited results for the Fourth-Quarter and Full-Year Ended 31 December 2017, issued on 15 February 2017, ( Preliminary Unaudited Results ) which details our non-gaap performance measures and reconciles, where applicable, our 2017 and 2016 results as reported under IFRS to the non- GAAP performance measures included in this presentation. 2

3 AGENDA PLATFORM FOR GROWTH OUR GROWTH OPPORTUNITIES DELIVER SHAREHOLDER VALUE SUSTAINABILITY & KEY TAKEAWAYS 3

4 ONE OF THE WORLD S LARGEST BEVERAGE COMPANIES Sweden SERVING OVER SERVICING Iceland Norway 300 MILLION ~1 MILLION PEOPLE IN 13 COUNTRIES CUSTOMER OUTLETS Netherlands Great Britain Belgium Germany REVENUE 11.0BN ADJUSTED EBITDA 2.0BN FREE CASH FLOW 1.0BN DRIVING SHAREHOLDER VALUE ANNUALISED DIVIDEND >50% POST MERGER Portugal Spain France Monaco Andorra Luxembourg COMPELLING OPPORTUNITIES FOR PROFITABLE GROWTH FY 2017; revenue is comparable (non-gaap performance measure); adjusted EBITDA is profit after tax plus taxes, net finance costs, non-operating items, depreciation, amortisation, and adjusted for items impacting comparability (a non-gaap performance measure); free cash flow is defined as net cash flows from operations, less capital expenditures and interest paid, plus proceeds from capital disposals 4

5 LOOKING AHEAD AVAILABILITY OF A DRINK FOR EVERY CONSUMER TASTE AND OCCASION WINNING WITH CUSTOMERS THROUGH JOINT VALUE CREATION DELIVERING SUSTAINABLE GROWTH BY GROWING TOPLINE, IMPROVING MARGINS, AND INCREASING FREE CASH FLOW DRIVING SHAREHOLDER VALUE 5

6 AGENDA ONE OF THE WORLD S LARGEST BEVERAGE COMPANIES OUR GROWTH OPPORTUNITIES DELIVER SHAREHOLDER VALUE SUSTAINABILITY & KEY TAKEAWAYS 6

7 OPPORTUNITY TO GROW IN ~ 100B 1 RETAIL NARTD CATEGORY NARTD CATEGORY IS ~ 100B 1 IN RETAIL SALES CATEGORY MIX & CCEP VALUE SHARE 33% 18% 49% 46% 26% 28% Sparkling Still Water CCEP Opportunity ~71% 24% NARTD Volume NARTD Value CCEP Value Share % 1% MEASURED CHANNELS ARE ~ 40B 3 IN RETAIL SALES FOCUSED ON LEVERAGING CONSUMER PREFERRED BRANDS & LEADING CUSTOMER SERVICE UNIQUELY POSITIONED TO GROW THE CATEGORY & WIN SHARE 1 FY 2017 Euromonitor; NARTD is Non Alcoholic Ready-To-Drink; numbers are rounded 2 Internal analysis of measured and unmeasured channels 3 FY 2017 AC Nielsen (measured channels) 7

8 CONSUMER SEGMENTS DIVERSIFY & GROW OUR PORTFOLIO VALUE EXPANDING OUR CONSUMER & CUSTOMER FRANCHISE Water, Enhanced Water Juices, Stills. & Dairy RTD Tea & Coffee Energy Sports Other SSDs Light Colas Regular Colas NARTD VALUE SHARE COLLABORATE WITH CUSTOMERS FOR JOINT VALUE CREATION Supermarkets E-Commerce Convenience Discounters HoReCa ILLUSTRATIVE CCEP SHARE ALL OTHER CUSTOMER CHANNELS Food on the Go Education & Workplace Leisure & Travel OPERATE EFFICIENTLY, EFFECTIVELY, AND LOCALLY CCEP analysis value share is illustrative based on select FY17 AC Nielsen (measured channels); SSD refers to Sparkling Soft Drinks; HoReCa refers to Hotel/Restaurant/Cafél CCEP 8

9 OUR APPROACH TO GROWTH NARTD CATEGORY MULTI-YEAR GROWTH OUTLOOK - ILLUSTRATIVE EXPLORE ENHANCE SPARKLING BRANDS & OUR CORE PORTFOLIO EXPAND PRODUCTS INTO NEW TERRITORIES AND CONTINUE TO INNOVATE INNOVATION TO UNLOCK NEW REVENUE STREAMS 9

10 ENHANCE OUR CORE BRANDS #1 #1 #1 CLASSIC COLA LIGHT COLAS SPARKLING FLAVOURS DRIVE VALUE THROUGH PACKAGE INNOVATION & INCREASED INCIDENCE LEAD SEGMENT GROWTH THROUGH INNOVATION & NEW FLAVOURS BUILD ON SUCCESS THROUGH INNOVATION, REFORMULATION & EXPANSION 5.1B SEGMENT 3.7B SEGMENT 4.4B SEGMENT 81% VALUE SHARE 2018 GROWTH 66% VALUE SHARE 2018 GROWTH 2018 GROWTH 32% VALUE SHARE FY 2017 AC Nielsen (measured channels); 2018 Category Value Growth is internal forecast excluding accounting impact of incremental soft drinks industry taxes CCEP OTHER 10

11 EXPAND IN GROWING SEGMENTS #2 #7 #4 ENERGY WATER MIXERS EXECUTE MULTI-BRAND STRATEGY & CONTINUED INNOVATION EXPAND TO NEW MARKETS & NEW FLAVOURS DIFFERENTIATE THROUGH PREMIUMISATION & ADULT SPARKLING 3.2B SEGMENT 10.2B SEGMENT 0.8B SEGMENT 20% VALUE SHARE 2018 GROWTH 2% VALUE SHARE 2018 GROWTH 11% VALUE SHARE 2018 GROWTH FY 2017 AC Nielsen (measured channels); 2018 Category Value Growth is internal forecast excluding accounting impact of incremental soft drinks industry taxes CCEP OTHER 11

12 EXPLORE WITH NEW BRANDS READY-TO-DRINK TEA SIMULTANEOUS LAUNCH ACROSS ALL TERRITORIES SIGNIFICANT MARKETING INVESTMENT & FIELD SALES SUPPORT NEW SEGMENTS SELECTED TERRITORIES AND CUSTOMERS APPEAL TO A WIDER CONSUMER BASE 12

13 INVEST FOR LONG-TERM GROWTH SALES FORCE CAPABILITIES COOLERS DIGITAL TECHNOLOGIES ROUTE-TO- MARKET OPERATIONS 13

14 COVERING MORE OUTLETS MORE OFTEN IMPROVING SALES FORCE CAPABILITIES INCREASING FIELD SALES VISITS PER DAY DRIVING EFFICIENCIES DEDICATING SALES TEAMS FOR NEW PRODUCTS EXTENDING OUTLET COVERAGE EXPANDING DIGITAL CAPABILITIES ~ 7.5 Jun-16 ~ 12.0 Dec-17 DRIVING EFFICIENCY AND EFFECTIVENESS CCEP internal reports 14

15 TRANSFORMING INTO A DIGITAL LEADER SALES & MARKETING SUPPLY CHAIN WORKPLACE SHOPPERS DRIVE E-COMMERCE REVENUE CUSTOMERS LEVERAGE OUR DATA CAPABILITIES ROUTE-TO-MARKET EMPOWER FIELD SALES TO SELL MORE INCREASE SUPPLY CHAIN END-TO-END VISIBILITY PROMOTE SEAMLESS COLLABORATION WITH SUPPLIERS DIGITISE SHOP FLOOR PROCESSES AND OPERATIONS HARNESSING DIGITAL TO HELP US GROW 15

16 ACCELERATING COLD DRINK AVAILABILITY STRONG 2018 COLD DRINK EQUIPMENT PLANS SUPPORT CORE RANGE AVAILABILITY ENABLE PORTFOLIO EXPANSION DEDICATED COOLERS FOR NEW PRODUCTS DRIVING EFFICIENCY AND EFFECTIVENESS 16

17 IMPROVING OUR ROUTE-TO-MARKET FOCUSING ON KEY AREAS Customer Development Order Capture Warehousing Delivery Invoicing & Cash Collections Execution OUTLET STRENGTHEN RELATIONSHIPS WITH KEY CUSTOMERS OPTIMISE WHOLESALER PARTNERSHIPS INCREASE CORE RANGE AVAILABILITY DRIVE DISTRIBUTION & VISIBILITY EMPOWER FIELD SALES DRIVING EFFICIENCY AND EFFECTIVENESS 17

18 BUILDING ON SUPPLY CHAIN EXCELLENCE INNOVATION GB SUGAR LEVY PACKAGING FANTA TWIST/SPRITE DIMPLE MINI CANS/SLEEK CANS INVESTMENTS NEW LINES AUTOMATE STORAGE & RETRIEVAL IMPROVE CUSTOMER SERVICE EFFICIENCIES & SYNERGIES PRODUCTIVITY IMPROVEMENTS LIGHTWEIGHT CAPS AND PET RESPONSIBLE & SUSTAINABLE DOING WHAT IS GOOD FOR THE ENVIRONMENT IS GOOD FOR OUR BUSINESS A CUSTOMER-CENTRIC SUPPLY CHAIN 18

19 AGENDA ONE OF THE WORLD S LARGEST BEVERAGE COMPANIES WITH COMPELLING OPPORTUNITIES & PLANS FOR PROFITABLE GROWTH DELIVER SHAREHOLDER VALUE SUSTAINABILITY & KEY TAKEAWAYS 19

20 FINANCIAL FRAMEWORK GROW FREE CASH FLOW (FCF) GROW FCF IN-LINE WITH LONG-TERM TARGETS, INCREASE FCF TO NET INCOME CONVERSION MAINTAIN OPTIMAL CAPITAL STRUCTURE OPERATE WITHIN LONG-TERM TARGET LEVERAGE RANGE PURSUE DISCIPLINED INVESTMENTS SHORT TERM USE AND LONG-TERM SOURCE OF CASH RETURN CASH TO SHAREHOLDERS RETURN AVAILABLE CASH TO SHAREHOLDERS A CONTINUED FOCUS ON SUSTAINABLE GROWTH & SHAREHOLDER VALUE Free cash flow is defined as net cash flows from operations, less capital expenditures and interest paid, plus proceeds from capital disposals 20

21 DELIVERING VALUE IN 2017 GROWING REVENUE & PROFIT REVENUE UP 3.0% OPERATING PROFIT UP 10.5% DILUTED EPS UP 15.0% IMPROVING CASH FLOW FREE CASH FLOW 1.0BN INCREASING ROIC ROIC OF 9% IN 2017, UP ~100 BPS REDUCING LEVERAGE NET DEBT TO ADJUSTED EBITDA OF 2.8x FY 2017; revenue, operating profit, and diluted EPS growth are comparable and fx-neutral (non-gaap performance measures); free cash flow is defined as net cash flows from operations, less capital expenditures and interest paid, plus proceeds from capital disposals; ROIC = after tax comparable operating profit / (beginning & ending net debt & equity) / 2; adjusted EBITDA is profit after tax plus taxes, net finance costs, non-operating items, depreciation, amortisation, and adjusted for items impacting comparability (a non-gaap performance measure) 21

22 GROW FREE CASH FLOW STRATEGY DELIVER CONSISTENT LONG-TERM PROFITABLE GROWTH PRUDENT CAPITAL INVESTMENTS DRIVE CASH FROM OPERATIONS 2017 FCF M 1,951 (488) (247) (94) (347) 1, Adjusted EBITDA Net CAPEX Working Capital Taxes Interest Restructuring, Provisions & Other Free Cash Flow 2017 FCF CONVERSION TO NET INCOME ~100% BENEFITING FROM WORKING CAPITAL Free cash flow is defined as net cash flows from operations, less capital expenditures and interest paid, plus proceeds from capital disposals; adjusted EBITDA is profit after tax plus taxes, net finance costs, non-operating items, depreciation, amortisation, and adjusted for items impacting comparability (a non-gaap performance measure) 22

23 IMPROVE WORKING CAPITAL ACCOUNTS PAYABLE ACCOUNTS RECEIVABLE IMPROVING AND STANDARDISING TERMS ~4 DAYS 2017 IMPROVED PAYABLE DAYS IMPROVING BILLING ACCURACY AND DECREASING DISPUTES ~6 DAYS 2017 IMPROVED RECEIVABLE DAYS INVENTORY MANAGEMENT INTEGRATED APPROACH OPTIMISING INVENTORY AND RATIONALISING SKUS ~3 DAYS 2017 IMPROVED INVENTORY DAYS ENHANCING TRACKING AND REPORTING AND INTEGRATING INTO MANAGEMENT ROUTINES IMPROVED WORKING CAPITAL BY OVER 250 MILLION IN

24 MAINTAIN OPTIMAL CAPITAL STRUCTURE LONG-TERM OBJECTIVES NET DEBT TO ADJUSTED EBITDA 1 OPERATE WITHIN A 2.5x TO 3.0x NET DEBT TO ADJUSTED EBITDA LEVERAGE RATIO ~3.5x ~3.2x 2 MAINTAIN INVESTMENT GRADE DEBT RATING 2.8x ~2.5x 3 PERIODICALLY RE-EVALUATE OPTIMAL STRUCTURE YE15PF YE16PF YE17 YE18E Net Debt to Adjusted EBITDA OUR STRATEGY IS TO MAINTAIN A STRONG, FLEXIBLE BALANCE SHEET Adjusted EBITDA is defined as profit after tax plus taxes, net finance costs, non-operating items, depreciation, amortisation and adjusted for items impacting comparability (a non-gaap performance measure); YE15PF and YE16PF calculated assuming the merger occurred at the beginning of each year and reflect internal reports; numbers are rounded 24

25 PURSUE DISCIPLINED INVESTMENT CORE BUSINESS GROWTH INVEST IN INNOVATION TO DRIVE GROWTH SYNERGIES AND RESTRUCTURING INVEST TO DRIVE EFFICIENCY AND EFFECTIVENESS M&A OPPORTUNISTICALLY PURSUE M&A TO DRIVE INCREMENTAL SHAREHOLDER VALUE INVEST IN ATTRACTIVE RETURN OPPORTUNITIES 25

26 REALISING SYNERGIES TOP-LINE GROWTH SUPPLY CHAIN OPERATING EXPENSES SHARED VISION BETWEEN TCCC AND CCEP ENHANCED COMMERCIAL PARTNERSHIPS SCALE AND SPEED TO WIN IN NEW CATEGORIES INCREASED EFFICIENCY AND EFFECTIVENESS FOCUS ON CUSTOMER SERVICE, LOCAL OPERATIONS, AND BEST PRACTICES PROCUREMENT SAVINGS OPPORTUNITIES SHARED CORE SUPPORT FUNCTIONS REDUCED MANAGEMENT DUPLICATION DECREASED ADMINISTRATIVE COSTS ON-TRACK TO REALISE ANNUAL RUN-RATE PRE-TAX SAVINGS OF 315M 340M BY 1H19 Synergy areas include supply chain, procurement, and operating expenses top-line growth synergies are not included in savings target 26

27 SELECT SYNERGY HIGHLIGHTS ~ 70M PROCUREMENT SAVINGS AND IMPROVED SCALE (E.G. COOLER HARMONISATION, PAN-EUROPEAN HAULAGE) ~ 35M RATIONALISATION OF PRODUCTION CENTRES, PRODUCTION LINES, AND DISTRIBUTION CENTRES ~ 25M SUPPLY CHAIN EFFICIENCIES (E.G. LINE OPTIMISATION, LABOUR EFFICIENCIES, AUTOMATION PROJECTS) ~ 25M DECREASED EXPENSES (E.G. CENTRALISE AND OPTIMISE CORPORATE FUNCTIONS) ACHIEVED PRE-TAX SAVINGS OF ~ 155M POST CLOSE THROUGH FY17 27

28 DRIVING SHAREHOLDER VALUE LONG-TERM TARGETS RETURN CASH TO SHAREHOLDERS ANNUALISED DIVIDEND PAYOUT Annual Payout Payout Percentage DILUTED EARNINGS PER SHARE (EPS) GROWTH IN A MID-TO-HIGH SINGLE-DIGIT RANGE INCREASING ONGOING DIVIDEND PAYOUT RATIO RETURN ON INVESTED CAPITAL (ROIC) 20 BPS OR MORE ANNUAL IMPROVEMENT CONSTANTLY EVALUATING RETURN OF INCREMENTAL CASH % 40% ~45% E Diluted EPS is comparable and fx-neutral (non-gaap financial measure) 28

29 2018 OUTLOOK FINANCIAL OUTLOOK REVENUE GROWTH LOW SINGLE-DIGIT OPERATING PROFIT & DILUTED EPS GROWTH OF 6% TO 7% FREE CASH FLOW OF 850M TO 900M EXIT FY18 WITH ~75% OF SYNERGIES REALISED LONG-TERM OBJECTIVES REVENUE GROWTH LOW SINGLE-DIGIT OPERATING PROFIT GROWTH MID-SINGLE-DIGIT EPS GROWTH MID-TO-HIGH SINGLE-DIGIT ROIC IMPROVEMENT 20 BPS/YEAR END FY18 AT LOW-END OF 2.5x 3.0x LEVERAGE TARGET FOCUSED ON BOTH NEAR-TERM AND LONG-TERM FINANCIAL OBJECTIVES 2018 outlook for revenue, operating profit, and diluted EPS is comparable and fx-neutral (non-gaap performance measures); 2018 revenue guidance excludes the accounting impact of incremental soft drinks industry taxes; long-term objectives are comparable and fx-neutral (non-gaap financial measures); ROIC = after tax comparable operating profit / (beginning & ending net debt & equity) / 2 29

30 KEY FINANCIAL TAKEAWAYS FOCUSED ON GENERATING CASH FROM OPERATIONS ON-TRACK TO REALISE SYNERGIES IN-LINE WITH OUR GUIDANCE SHAREHOLDER VALUE REMAINS KEY PRIORITY WELL POSITIONED TO DELIVER LONG-TERM PROFITABLE GROWTH & DRIVE SHAREHOLDER VALUE 30

31 AGENDA ONE OF THE WORLD S LARGEST BEVERAGE COMPANIES WITH COMPELLING OPPORTUNITIES & PLANS FOR PROFITABLE GROWTH DRIVING SHAREHOLDER VALUE REMAINS A KEY PRIORITY SUSTAINABILITY & KEY TAKEAWAYS 31

32 WE VE MADE STRONG PROGRESS STAKEHOLDER INSIGHT & ROUNDTABLES 1ST STAKEHOLDER PROGRESS REPORT DOW JONES SUSTAINABILITY INDEX LISTING & CDP A LIST FOR CLIMATE & WATER SUSTAINABILITY PLAN LAUNCH NAMED BY CORPORATE KNIGHTS AS ONE OF THE MOST SUSTAINABLE CORPORATIONS JAN - MAY JUNE OCT -SEPT NOV JAN 32

33 NEW SUSTAINABILITY STRATEGY LAUNCHED IN NOVEMBER 2017 WE ARE TAKING ACTION ON SUSTAINABILITY BY USING OUR BUSINESS AND OUR BRANDS TO BUILD A BETTER FUTURE. FOR PEOPLE. FOR THE PLANET. ACTION ON DRINKS More choice. More information. Less sugar. ACTION ON PACKAGING Our packaging. Our resource. ACTION ON SOCIETY A force for good. For everyone. ACTION ON WATER Protect. Reduce. Replenish. ACTION ON CLIMATE Halve emissions. Renewable electricity. ACTION ON SUPPLY CHAIN Sourcing sustainably. Sourcing responsibly. 33

34 OUR TRACK RECORD ON SUSTAINABILITY KEY RESULTS & PROGRESS PRIOR TO THIS IS FORWARD ACTION ON PACKAGING 100% OF OUR BOTTLES AND CANS ARE RECYCLABLE 21% OF THE PET USED IN OUR PACKAGING IN 2016 WAS RECYCLED PET ACTION ON DRINKS 180 NO OR LOW-SUGAR PRODUCTS HAVE BEEN INTRODUCED SINCE % OF THE VOLUME OF THE DRINKS IN OUR PORTFOLIO ARE NO- AND LOW-CALORIE ACTION ON CLIMATE 42.6% REDUCTION IN THE CARBON FOOTPRINT OF OUR CORE BUSINESS OPERATIONS SINCE 2010 OVER 80% OF THE ELECTRICITY WE USE FOR OUR OPERATIONS IN WESTERN EUROPE IS FROM RENEWABLE SOURCES Stakeholder Progress Report

35 ENHANCING OUR GROWTH CULTURE LEVERAGING CAPABILITIES ACROSS OUR LARGER ORGANISATION EMPOWERING A TEAM DRIVEN, INCLUSIVE, AND PASSIONATE CULTURE 35

36 KEY TAKEAWAYS WE ARE THE SHARE LEADER IN AN ATTRACTIVE, DYNAMIC, AND GROWING CATEGORY WE UNDERSTAND THE CONSUMER OPPORTUNITIES & CHALLENGES WE ARE CLOSELY ALIGNED WITH TCCC ON OUR AMBITION & OUR PRIORITIES WE ARE ON TRACK TO DELIVER OUR SYNERGY BENEFITS WE ARE EXECUTING OUR PLANS & CAPTURING GROWTH OPPORTUNITIES WE ARE COMMITTED TO DRIVING SHAREHOLDER VALUE 36

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