Coca-Cola Europacific Partners PLC

###### Advocacy and We are committed to fostering collaborative efforts within memberships our industry, actively engaging with peer companies, industry associations and government bodies.

To facilitate a rapid, fair transition to a low-carbon economy, we are engaging with key stakeholders to accelerate the following:

– Fossil fuel phase out – Rapid shift to a circular economy – Renewable electricity across all markets

CCEP's Board of Directors has 5 committees. It has primary oversight of climate-related risks and opportunities and is supported in its oversight and with driving our climate agenda by its Committees and predominantly by the Environmental, Social and Governance (ESG) Committee and Audit Committee. There is close collaboration across these Committees due to the role they play in ESG reporting, disclosure and assurance. A joint meeting of both the ESG and Audit Committee was held in October 2022 to discuss CCEP's approach to TCFD compliance and ESG assurance. All members of the ESG Committee are non-executive directors, the majority of whom (3) are independent non-executive directors. All members of the Audit Committee are independent non-executive directors. The ESG Committee is responsible for overseeing performance against our sustainability action plan, This is Forward, strategy and goals, reviews environmental and social related risks and opportunities, including climate-related risks, one of our 12 principal risks, and GHG emissions reduction targets. The ESG Committee in close collaboration with the Audit Committee oversees ESG reporting, disclosure and assurance. The Committee makes recommendations to the Board regarding how CCEP should respond to social, environmental and public policy trends, issues and concerns to more effectively achieve its business and sustainability goals. The Audit Committee ensures that climate-related risks and opportunities are managed across the Group, oversees risk management process, including an annual Enterprise Risk Assessment to identify principal risks including climate risk, oversees CCEP's financial and reporting obligations, including ESG-related reporting, and has oversight over sustainability metrics for capital expenditure proposals. In 2022, the ESG Committee's main focus was the development of This is Forward to incorporate API markets and to meet evolving stakeholder expectations. The Committee also spent time considering our science based emissions reduction targets for 2030 and 2040 to include API. It also reviewed our updated carbon inventory, including GHG emissions related to our business in API. The Committee agreed on two new targets which following Board approval, were subsequently submitted to the SBTi for their approval. The SBTi's decision is awaited and expected by the end of 2023.

6.1. Oversee the Company's approach to sustainability public policy influence and public affairs [...] 8.1. The Committee shall report to the Board after each meeting on the nature and content of its discussion, recommendations and actions to be taken.

We employ a small team of Public Affairs and Communications professionals across our territories to contribute to public policy dialogues by sharing our knowledge and expertise with those who have the potential to shape the laws, regulations and policies that both impact our business and could make a difference in people's lives, communities and for our planet. [...] We actively engage with our trade associations to align advocacy relevant to climate with our support for the 1.5oC ambition and the delivery of the Paris Agreement. [...] We are members of trade associations in each of the countries in which we operate where these bodies exist, and are represented on these bodies by our General Managers or public affairs team members. [...] Due to the nature of the franchise system of which we are a part, we also work closely in partnership with Public Affairs professionals engaged by our brand owners - in particular TCCC – to engage public policy with political organisations. [...] As per our Code of Business Conduct, CCEP does not make political donations and is not permitted to do so by law in Belgium, France, GB, Portugal or Spain. However, we recognise our employees' right to participate in the political process as individuals - employees may participate in government and political activities in their own time and at their own expense. Therefore, CCEP will only make political contributions as permitted by law, when necessary approvals have been obtained and in a timely manner. [...] It is sometimes necessary, for communications purposes or for items where we either do not have a specific trade association or if the trade associations does not have the capability or resources to advocate for a position, to spend money on direct advocacy or campaigns. We tend to do with the support of agencies.

The ESG Committee report on page 131 sets out the key topics considered by the Committee, including updates related to our 2030 carbon reduction plan and GHG emissions. [...] The main discussion forum for the Executive Leadership Team (ELT) on ESG and climate matters is the Sustainability Steering Committee (SSC). Modern slavery, human rights, other policy and CoC matters are considered by the Compliance and Risk Committee (CRC). [...] Multiple cross functional working groups are focused on developing the strategy and delivering against our This is Forward targets. Working groups, led by key management, meet regularly and bring items for information, review and decision making to the SSC and Board Committees. In 2024, the SSC reviewed CCEP's progress against its 2030 carbon reduction plan, and agreed next steps. [...] Sustainability is embedded into the operations of the Board and its Committees as well as the key management-level committees.

Governance Board-level governance Our Board of Directors has primary oversight of climate-related risks and opportunities. The Board is supported in its oversight and with driving CCEP's climate agenda by its Committees and predominantly by the ESG Committee and Audit Committee as outlined in the TCFD governance framework (see page 30). There is close collaboration across these Committees due to the role that both play in ESG reporting, disclosure and assurance. A joint meeting of the ESG and Audit Committees was held in October 2022 to discuss these matters, including this TCFD disclosure. The Board also receives annual training and deep dives on climate-related issues which in 2022 included a session focused solely on risks, including climate risks. Climate risks and opportunities are also considered as part of the Board's annual strategy session, held each September, with progress updates to the Board throughout the year. At the end of 2022, CCEP's ESG Committee recommended the Board approval of updated short-term and long-term absolute GHG emissions reduction targets, covering Scope 1, 2 and 3 emissions across our entire value chain. The following targets have been submitted to the SBTi for their approval: - Short-term target to reduce our absolute emissions by 30% by 2030 (versus 2019) - Long-term target to reach Net Zero by 2040 We anticipate that the SBTi will complete its review by the end of 2023. The Committees are supported by management as outlined in the TCFD governance framework and by the management-level governance section. Management-level governance Ownership and governance for sustainability-related risks and opportunities and driving progress towards our commitments is embedded throughout our business. Risk management is a key responsibility for all senior leadership who are assigned ownership of specific risks, including climate-related risks. Each principal risk is assigned an owner at leadership and operational management level. Risks are assessed periodically, the mitigations determined and their effectiveness evaluated. A quarterly risk report informs leadership about risk developments and supports their business decision making. Key executive leadership and management with responsibility for climate-related issues are outlined in the TCFD governance framework. The main discussion forum for the Executive Leadership Team (ELT) on climate matters is the Sustainability Steering Committee. Multiple working groups focused on the strategy, execution and delivery of CCEP's This is Forward sustainability action plan have been established. Groups meet regularly and items that require decision or approval are raised with the Sustainability Steering Committee as appropriate."
"The ESG Committee updates the Board on whistleblowing arrangements, reports and investigations. During the year, as part of its terms of reference review, these matters and others such as health and safety became the remit of the ESG Committee with relevant matters still brought to the Audit Committee. [...] The Board approved the updated CCEP wide sustainability action plan, This is Forward. [...] To help the Board make the decision, the Board received reports from the ESG Committee, which oversaw the process to update the commitments following escalation by the Sustainability Steering Committee. A joint meeting of the Audit and ESG Committees was also held to review the assurance of the This is Forward metrics. [...] The Board considered the long-term implications of the decision and the proposed metrics to track the outcomes of the decision with management, along with disclosure and assurance. [...] The Board received information as part of the Company Secretary's Governance updates to better understand the regulations around sustainability, including disclosure rules and reporting requirements. [...] Along with the need to measure CCEP's progress against the proposed sustainability commitments, the Board was also mindful of the importance of assurance and explaining the metrics and targets transparently to ensure CCEP was accountable to its stakeholders. [...] The views of stakeholders consulted in developing the plan, including TCCC, suppliers, customers and communities, were fed back by management to the ESG Committee, and in Committee reports to the Board. The impacts on each stakeholder group were considered. For example, our new commitment to support the skills development of those facing barriers in the labour market aims to have a positive impact on this important stakeholder group. [...] The Board also considered among other things how the updated sustainability plan supports value creation for customers and how best to align CCEP's commitments with TCCC's global sustainability commitments and World Without Waste plan. [...] In addition, related to our sustainability action plan, the Board reflected on the risks and opportunities, such as the ability to deliver the updated sustainability commitments and the potential reputational impact of not meeting the commitments versus value creation for shareholders, and protecting CCEP's licence to operate by aligning with societal expectations. [...] Having taken such factors into account and the Section 172 duty to have regard to its wider stakeholders and also the impact of the Company's operations on the community and the environment, the Board approved the updated sustainability commitments and considered the decision would be in the best interest of CCEP's shareholders as a whole and promote the success of the Company.

We employ a dedicated team of Public Affairs and Communications professionals across our territories to contribute to public policy dialogues by sharing our knowledge and expertise with those who shape laws, regulations, and policies impacting our business and the planet. [...] We are members of trade associations in each of the countries in which we operate where these bodies exist, and are represented on these bodies by our General Managers or public affairs team members. [...] Due to the nature of the franchise system of which we are a part, we also work closely in partnership with Public Affairs professionals engaged by our brand owners - in particular The Coca-Cola Company (TCCC) – to engage public policy with political organisations. [...] As per our Code of Business Conduct, CCEP does not make political donations and is not permitted to do so by law in Belgium, France, Great Britain, Portugal or Spain. However, we recognise our employees' right to participate in the political process as individuals - employees may participate in government and political activities in their own time and at their own expense. Therefore, CCEP will only make political contributions as permitted by law, when necessary approvals have been obtained and in a timely manner. [...] It is sometimes necessary, for communications purposes or for items where we either do not have a specific trade association or if the trade associations does not have the capability or resources to advocate for a position, to spend money on direct advocacy or campaigns. We tend to do this with the support of agencies.

We employ a small team of Public Affairs and Communications professionals across our territories to contribute to public policy dialogues by sharing our knowledge and expertise with those who have the potential to shape the laws, regulations and policies that both impact our business and could make a difference in people's lives, communities and for our planet. [...] We actively engage with our trade associations to align advocacy relevant to climate with our support for the 1.5oC ambition and the delivery of the Paris Agreement. We also engage in direct advocacy; however, this is a very small part of our activities. [...] We are members of trade associations in each of the countries in which we operate where these bodies exist, and are represented on these bodies by our General Managers or public affairs team members. [...] Due to the nature of the franchise system of which we are a part, we also work closely in partnership with Public Affairs professionals engaged by our brand owners - in particular TCCC – to engage public policy with political organisations. [...] As per our Code of Business Conduct, CCEP does not make political donations and is not permitted to do so by law in Belgium, France, GB, Portugal or Spain. However, we recognise our employees' right to participate in the political process as individuals - employees may participate in government and political activities in their own time and at their own expense. Therefore, CCEP will only make political contributions as permitted by law, when necessary approvals have been obtained and in a timely manner. [...] It is sometimes necessary, for communications purposes or for items where we either do not have a specific trade association or if the trade associations does not have the capability or resources to advocate for a position, to spend money on direct advocacy or campaigns. We tend to do with the support of agencies.

Describe the process(es) your organization has in place to ensure that your engagement activities are consistent with your overall climate change strategy[…]Our 2030 GHG reduction target has been approved by the SBTi as being in line with a 1.5ËšC reduction pathway, as recommended by the IPCC. As an influential global business, we use our voice to guide public policy and drive the transition to a low-carbon future.

The way we operate our business is impacted by policy developments, mainly related to taxation on our packaging, ingredients and the introduction of requirements for the design & waste management of our packaging, such as reuse & deposit return systems.

We engage in political advocacy to ensure our views & interests are understood by those who have potential to impact the laws, regulations and policies that could impact our business. We do this through trade associations, which lobby on our behalf for the causes & industries they represent. We also engage in direct advocacy, usually with support of agencies but it's a small part of our activity.

Within our Public Affairs, Communications and Sustainability (PACS) function, our Chief PACS Officer is the ELT member with overall management responsibility for our ESG Committee. The ESG Committee of our Board of Directors have primary ownership of sustainability issues and are responsible for monitoring CCEP's progress against our sustainability action plan 'This is Forward' targets, including packaging, climate and water, and reviews all major environmental-based investments, risks, and water related activities to ensure that they are aligned. Any inconsistencies in our methods to influence policy in relation to these would be highlighted through discussion with them and decisions made in this forum. This governance structure helps ensure that our positions and activities are consistent and aligned with our sustainability targets.

Our PACS function reviews CCEP's policy positions on a local and international level. Each of our territories has a Public Affairs (PA) lead. Any changes to policy which could influence CCEP's climate policy or commitments, is discussed in weekly PACS Leadership Team meets. The corporate and local PA leads are responsible for the relationships with - and the strategy and advocacy of - relevant trade associations. They are active members, often serving on Executive Committees, and ensure our values and positions are reflected.

We also work in partnership with PA professionals engaged by our brand owners – in particular TCCC – to represent the interests of our company and brands publicly and with political organisations.

Does your organization have a public commitment or position statement to conduct your engagement activities in line with the goals of the Paris Agreement?[…]Yes