2022 Performance Share Plan Awards

Coca-Cola HBC AG (the "Company")

2022 Performance Share Plan ('PSP') Awards - Performance Conditions

Zug, Switzerland - 16 September 2022 - As disclosed in the Integrated Annual Report of the Company for the year ended 31 December 2021 (the "2021 IAR") and as announced on 23 March 2022, on 15 March 2022 the Chief Executive Officer and certain other PDMRs of the Company were granted nil-cost performance shares of CHF 6.70 each (the "Shares") in the Company through their participation in the Stock Option and Performance Share Award Plan ("PSP"). These awards will vest after three years, subject to the achievement of performance conditions.

Due to the onset of the conflict between Russia and Ukraine, and as noted in the 2021 IAR, the calibration of targets had not been finalised as at the date of grant. It was agreed therefore, that whilst the 2022 PSP awards would be granted on the usual timeframe in March 2022, the performance conditions applicable to those awards would be confirmed within six months of grant. As there is ongoing instability and disruption in the operating environment, Russia and Ukraine business financials are excluded from the PSP targets for the plan 2022-2024.  Future performance, related to Russia-Ukraine, will be excluded when determining the plan's achievement, even if there is a positive impact.

As determined by the Remuneration Committee, the performance conditions have now been finalised and are set out below:

Performance Conditions

Full disclosure in respect of the 2022 PSP awards and applicable performance conditions will be included in the 2022 Directors' Remuneration Report.

For further information please contact:

Jan Gustavsson

General Counsel and Company Secretary

+41 (0) 41 726 01 10

ABOUT COCA-COLA HBC

Coca-Cola HBC is a growth-focused consumer packaged goods business and strategic bottling partner of The Coca-Cola Company. We create value for all our stakeholders by supporting the socio-economic development of the communities in which we operate and we believe building a more positive environmental impact is integral to our future growth. Together, we and our customers serve 715 million consumers across a broad geographic footprint of 29 countries on three continents. Our portfolio is one of the strongest, broadest and most flexible in the beverage industry, offering consumer-leading beverage brands in the sparkling, juice, water, sport, energy, plant-based, ready-to-drink tea, coffee, adult sparkling and premium spirits categories. These beverages include Coca-Cola, Coca-Cola Zero, Schweppes, Kinley, Costa, Valser, Romerquelle, Fanta, Sprite, Powerade, FuzeTea, Dobry, Cappy, Monster and Adez. We foster an open and inclusive work environment amongst our 33,000 employees and we are ranked among the top sustainability performers in ESG benchmarks such as the Dow Jones Sustainability Indices, CDP, MSCI ESG and FTSE4Good.

Coca-Cola HBC has a premium listing on the London Stock Exchange (LSE:CCH) and is listed on the Athens Exchange (ATHEX:EEE). For more information, please visit https://www.coca-colahellenic.com.