<SEC-DOCUMENT>0000903423-15-000583.txt : 20151201
<SEC-HEADER>0000903423-15-000583.hdr.sgml : 20151201
<ACCEPTANCE-DATETIME>20151008164510
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000903423-15-000583
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20151008

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COCA COLA FEMSA SAB DE CV
		CENTRAL INDEX KEY:			0000910631
		STANDARD INDUSTRIAL CLASSIFICATION:	BOTTLED & CANNED SOFT DRINKS CARBONATED WATERS [2086]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		MARIO PANI #100, PISO 7
		STREET 2:		COL SANTA FE
		CITY:			CUAJIMALPA
		STATE:			O5
		ZIP:			DF 05348
		BUSINESS PHONE:		525515195120

	MAIL ADDRESS:	
		STREET 1:		MARIO PANI #100, PISO 7
		STREET 2:		COL SANTA FE
		CITY:			CUAJIMALPA
		STATE:			O5
		ZIP:			DF 05348

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	COCA COLA FEMSA SA DE CV
		DATE OF NAME CHANGE:	19930814
</SEC-HEADER>
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<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
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<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left">&nbsp;<IMG SRC="logo.jpg" ALT=""></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right">October 8, 2015</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">VIA EDGAR TRANSMISSION</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0">Ms. Tia L. Jenkins</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0">Senior Assistant Chief Accountant</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0">Office of Beverages, Apparel, and Mining</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0">Division of Corporation Finance</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0">Securities and Exchange Commission<BR>
100 F Street, N.E.<BR>
Washington, D.C. 20549</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 70.5pt"></TD><TD STYLE="width: 37.5pt">Re:</TD><TD>Coca-Cola FEMSA, S.A.B. de C.V.<BR>
Form 20-F for the Year Ended December 31, 2014</TD></TR></TABLE>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 1.5in">Response dated August 19, 2015</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 1in; text-indent: 0.5in">File No. 001-12260</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Dear Ms. Jenkins:</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify; text-indent: 0.5in">By letter dated
September 10, 2015 and letter dated August 7, 2015, the staff of the Securities and Exchange Commission (the &ldquo;<U>SEC</U>&rdquo;)
provided additional comments on the annual report on Form 20-F for the fiscal year ended December 31, 2014, as filed on April 15,
2015 by Coca-Cola FEMSA, S.A.B. de C.V. (the &ldquo;<U>Company</U>&rdquo;). We submit today herewith, via EDGAR transmission, a
response to the SEC&rsquo;s comment letter dated September 10, 2015.</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">For your convenience,
we have reproduced the SEC&rsquo;s comments in bold and have provided the Company&rsquo;s responses immediately below of each question.</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Form 20-F for the Year Ended December 31,
2014</B></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Item 18. Financial Statements, page 94</B></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Notes to the Consolidated Statements, page
F-8</B></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0"><B><U>Note 9. Investments in Associates and Joint Ventures, page
F-35</U></B></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif"><B>1.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif"><B>We note the reasons why you use the
equity method to recognize the effects on the financial position and comprehensive income of Coca-Cola FEMSA Philippines, Inc.
(&ldquo;CCFPI&rdquo;) in your response to comment one. Please describe to us purpose and design of CCFPI
(IFRS 10.B5 and B6), and include the following in your response:</B></FONT></TD></TR></TABLE>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="margin: 0">Ms. Tia L. Jenkins, page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify"><B></B></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">CCFPI is a bottler in
the Philippines. Since 2007, it was a wholly-owned subsidiary of The Coca-Cola Company. In January 2013, the Company through a
wholly-owned subsidiary, acquired a 51% ownership interest in CCFPI and entered into a shareholders agreement with certain wholly-owned
subsidiaries of The Coca-Cola Company (the &ldquo;<U>Shareholders Agreement</U>&rdquo;) (Exhibit 4.27 of the Company&rsquo;s annual
report on Form 20-F filed on March 15, 2013), whereby the Company and The Coca-Cola Company agreed that CCFPI would be jointly
managed and jointly controlled by the Company and The Coca-Cola Company for a four-year period ending on January 25, 2017 (the
&ldquo;<U>Four-Year Period</U>&rdquo;). At the time the Shareholders Agreement was executed, the Company and The Coca-Cola Company
considered the Four-Year Period as a reasonable period of time during which they would jointly operate CCFPI&rsquo;s business.
Pursuant to this business arrangement, as explained below and in the response to question 2, CCFPI&rsquo;s corporate governance
is effectively managed on a 50/50 basis; therefore, both the Company and The Coca-Cola Company jointly approve any ordinary or
extraordinary matter of CCFPI.</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font: 12pt Symbol">&#183;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif"><B>The reason(s) the board is split 4-3 if the design is to have
no party have unilateral power</B></FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">Pursuant to the Shareholders
Agreement,<B> </B>notwithstanding the composition of CCFPI&rsquo;s board of<B> </B>directors or the Company&rsquo;s and The Coca-Cola
Company&rsquo;s ownership interest in CCFPI, during the<B> </B>Four-Year Period, the Company and The Coca-Cola Company<B> </B>have
to jointly agree on any decision related<B> </B>to the annual normal operations plan (the &ldquo;<U>Annual Normal Operations Plan</U>&rdquo;),
which is the annual plan pursuant to which the business is operated to ensure the normal operation and the organic growth of the
business of CCFPI and its subsidiaries in the Philippines and which includes commercial strategies such as price, distribution
structure, portfolio of products, new product launches, overhead structure, general policies related to the operation and management
of the business, annual budget, cash flow strategy including debt and all necessary capital investments, capital expenditures,
contracts, sales, volume, total revenues, operating income, operating cash flow, raw materials costs, volume mix, promotions, discounts,
direct marketing expenses (DME) and compensation policies, as well as revenues and market share long term projections, long range
financial projections, operating income projections and macroeconomic assumptions, as well as any amendment or adjustment to the
Annual Normal Operations Plan, and on any ordinary matter related to CCFPI&rsquo;s operations which includes pursuing claims or
any other incidental matter (the Annual Normal Operations Plan and any ordinary matter, jointly the &ldquo;<U>Relevant Activities</U>&rdquo;).</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">During the<B> </B>Four-Year
Period all Relevant Activities are decided jointly by the Company and The Coca-Cola Company<B> </B>at the board level, and CCFPI&rsquo;s
management is circumscribed to such decisions.</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="margin: 0">Ms. Tia L. Jenkins, page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></TD></TR></TABLE></DIV>
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<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">To help illustrate how
significant is the participation of The Coca-Cola Company in the joint governance of CCFPI to approve any Relevant Activities,
please also consider the following:</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 53.4pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font: 12pt Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">In case The Coca-Cola Company and the Company
do not jointly agree on an Annual Normal Operations Plan,<B> </B>on any<B> </B>given year during the Four-Year Period, a dispute
resolution process would commence. In the event matters remain unresolved after such dispute resolution process, The Coca-Cola
Company may, at its sole discretion, exercise a call option to acquire all of the shares of CCFPI owned by the Company pursuant
to the Shareholders Agreement. </FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 71.4pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 53.4pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font: 12pt Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">During the period in which discussions
are held between The Coca-Cola Company and the Company to try to resolve their differences regarding the Annual Normal Operations
Plan and the time of expiration of The Coca-Cola Company&rsquo;s right to exercise its call option, the Company&rsquo;s right to
exercise its call option (and its put option, as explained below), is suspended. </FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 53.4pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font: 12pt Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">When an Annual Normal Operations Plan for
any period is not approved by the board of directors of CCFPI, the shareholders shall cause the board to approve a provisional
Annual Normal Operation Plan for such period, which shall provide that (i) to the extent the board agrees by the required vote
(which shall include the affirmative vote of The Coca-Cola Company&rsquo;s directors) <U>upon individual line items</U>, such agreed
upon individual line items shall be included in such provisional Annual Normal Operations Plan, and (ii) to the extent that there
is no agreement by the required vote with respect to an individual line item in such Annual Normal Operations Plan, the individual
line item from the Annual Normal Operations Plan for the immediately preceding corresponding period shall be included, subject
to certain adjustments. The provisional Annual Normal Operations Plan is not deemed to resolve any disagreement, deadlock or impasse
matter.</FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">Pursuant to the Shareholders
Agreement, the Company and The Coca-Cola Company agreed that the Company would have the right to appoint four members of the board
of directors of CCFPI. By having the right to appoint the majority of the board, the Company will <I>eventually</I> control CCFPI
upon the expiration of the Four-Year Period, by having the right to approve the Annual Normal Operations Plan, which is the key
document pursuant to IFRS 10.B.12 and to which CCFPI&rsquo;s business is operated, and any other Relevant Activity without requiring
the approval or consent of The Coca-Cola Company.</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">By contrast,
following the Four-Year Period, only extraordinary matters (as detailed below) will require the joint approval of the Company
and The Coca-Cola Company either at the board level or at the shareholders level. Examples of such extraordinary matters
include: (A) if it is not specifically contemplated in the Annual Normal
Operations Plan, entering into agreements with respect to, or consummating, any acquisition, directly or indirectly (whether
by purchase, merger, consolidation or acquisition of stock or assets or otherwise), of any assets (whether tangible or
intangible), securities, properties, interests, or businesses, or approve any investment (whether by purchase of stock or
securities, contributions to capital, loans to, or property transfers) related to the normal operation or required to
assure the organic growth of the business of CCFPI and its subsidiaries, involving an amount in excess of US$18 million, and
(B) if it is not specifically contemplated in the Annual Normal Operations Plan, entering into any transaction related to the
normal operation or required to assure the organic growth of the business of the Company and its subsidiaries, to sell,
assign, lease, license, transfer, abandon or permitting to lapse or otherwise disposing of any real property or other
properties or assets, real, personal or mixed, whether tangible or intangible, involving an amount in excess of US$18
million.</P>


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<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"> </P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font: 12pt Symbol">&#183;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif"><B>The purpose and design behind the changes in decision-making
rights over time.</B></FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">Considering the put option
of the Company as agreed per the Shareholders Agreement to sell to The Coca-Cola Company its 51% stake in CCFPI from the fifth
anniversary to the sixth anniversary of the closing of the acquisition (January 2013), and the fact that the Company had not previously
conducted business in CCFPI&rsquo;s territories and Asia, The Coca-Cola Company conditioned the sale to the Company of the 51%
stake in CCFPI to have a period of time to participate jointly with the Company on the approval of any Relevant Activities of CCFPI.
As mentioned above, at the time the Company and The Coca-Cola Company entered into the Shareholders Agreement it was determined
that the Four-Your Period would be a reasonable period of time to address the concerns of The Coca-Cola Company.</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif"><B>2.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif"><B>Please clarify the relevant activities
of CCFPI and how decisions about those activities are made, and include the following in your response:</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font: 12pt Symbol">&#183;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif"><B>Clarify what &ldquo;joint approval&rdquo; means when the board
is split 4-3. In this regard, does joint approval require that all 7 board members must agree or that at least one board member
appointed by The Coca-Cola Company (&ldquo;KO&rdquo;) must agree.</B></FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 0.75in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">As explained in the response
to question number 1 above, during the Four-Year Period, CCFPI&rsquo;s corporate governance is effectively managed on a 50/50 basis;
therefore, both the Company and The Coca-Cola Company jointly approve any Relevant Activity or extraordinary matter of CCFPI. &ldquo;Joint
approval&rdquo; means that at least one board member appointed by The Coca-Cola Company must agree and vote on any Relevant Activity
or extraordinary matter relating to CCFPI. This means that both the Company and The Coca-Cola Company must agree on all aspects
of CCFPI&rsquo;s business during the Four-Year Period.</P>


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<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">Following the Four-Year
Period, CCFPI will be able to approve the Relevant Activities by a majority of the board of directors, which majority may be comprised
only by directors appointed by the Company.</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font: 12pt Symbol">&#183;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif"><B>Tell us how often the board meets and describe to us the level
of detail of the budget that the board approves.</B></FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">CCFPI&rsquo;s board of
directors meets at least four times each calendar year, including immediately following the annual shareholders meeting of CCFPI
to formalize any matter addressed and approved by the stockholders meeting, such as the election of officers.</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">CCFPI&rsquo;s board of
directors, in order to implement the commercial and operative strategies of the business and achieve CCFPI&rsquo;s targeted goals,
approves an annual budget that is included in the Annual Normal Operations Plan, with the following level of detail: commercial
strategies such as price, distribution structure, portfolio of products, new product launches, overhead structure, general policies
related to the operation and management of the business, cash flow strategy, sales, volume, total revenues, operating income, operating
cash flow, capital expenditures, raw materials costs, volume mix, promotions, discounts, direct marketing expenses (DME) and compensation
policies, as well as revenues and market share long term projections, long range financial projections, operating income projections
and macroeconomic assumptions. Furthermore, the Company has follow-up quarterly board meetings to review the budget to, in its
case, make any adjustments to the previously approved Annual Normal Operations Plan, with the same level of detail and with the
required vote of the board as explained above.</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font: 12pt Symbol">&#183;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif"><B>Tell us whether KO has ever vetoed a past decision made by Coca-Cola
FEMSA, S.A.B. de C.V. (&ldquo;KOF&rdquo;).</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font: 12pt Symbol">&#183;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif"><B>Tell us how disputes are contractually handled, and describe
the nature of past disputes and the process of how they were resolved.</B></FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">As of the date hereof,
The Coca-Cola Company and the Company have been able to agree on every decision relating to CCFPI, therefore the Company and The
Coca-Cola Company have had no disputes or deadlocks. Pursuant to the Shareholders Agreement, any dispute, deadlock or impasse between
the parties is subject to a dispute resolution process. As mentioned in the response to question number 1 above, during the Four-Year
Period, in the event that the board is unable to reach a decision on any Annual Normal Operations Plan by the required vote due
to the failure to jointly approve any such matter, either the Company or The Coca-Cola Company may deliver a written notice to
the other notifying the impasse or dispute. Following delivery of this notice, the shareholders will refer the matter to their
appointed officers, who shall try to resolve the matter. If the deadlocked matter is not resolved within 90 days, The Coca-Cola
Company may at its sole discretion exercise a call option to acquire all of the shares of CCFPI owned by the Company pursuant to
the Shareholders Agreement.</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="margin: 0">Ms. Tia L. Jenkins, page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">The Shareholders Agreement
includes similar provisions applicable to disagreements on decisions related to extraordinary matters described above.</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif"><B>3.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif"><B>Please identify the individuals that
sit on the board and management of CCFPI, and clarify their relationship to KOF and/or KO. Also clarify the design and purpose
behind KO appointing the CFO and KOF appointing all other officers.</B></FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 0.25in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">The current members of
the board of directors of CCFPI are:</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 26%; border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Name</B></P></TD>
    <TD STYLE="width: 18%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Role</B></P></TD>
    <TD STYLE="width: 12%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Voting member</B></P></TD>
    <TD STYLE="width: 15%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Appointed by</B></P></TD>
    <TD STYLE="width: 13%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif"><B>Employee of the Company </B></FONT></TD>
    <TD STYLE="width: 16%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif"><B>Employee of The Coca-Cola Company</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">Washington Fabricio Ponce Garc&iacute;a</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">Chairman and President and CEO</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">Yes</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">Company</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">No</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">-</FONT></TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 26%; border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">Juan Carlos Dominguez Guti&eacute;rrez</FONT></TD>
    <TD STYLE="width: 18%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">Member</FONT></TD>
    <TD STYLE="width: 12%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">Yes</FONT></TD>
    <TD STYLE="width: 15%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">Company</FONT></TD>
    <TD STYLE="width: 13%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">No</FONT></TD>
    <TD STYLE="width: 16%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">Patricia Gamboa</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">Member</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">Yes</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">Company</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">No</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">Andres Valverde</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">Member</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">Yes</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">Company</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">No</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">Sunil Ghatnekar</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">Member</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">Yes</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">The Coca-Cola Company</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">Yes</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">Johan Willem Maarten Jansen</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">Member</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">Yes</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">The Coca-Cola Company</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">Yes</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">Macaria Saldua</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">Member</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">Yes</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">The Coca-Cola Company</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">Yes</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">Terence Conrad Bello</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">Corporate Secretary</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">No</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">The Coca-Cola Company</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">No</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">Jerome Bonsol</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">Assistant Corporate Secretary</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">No</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">Company</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">No</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">-</FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 42.55pt">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 42.55pt">The principal executive
officers of CCFPI, which are employees of CCFPI, are the following:</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 42.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 42.55pt"></TD><TD STYLE="width: 21.25pt"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">1.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">Washington Fabricio Ponce Garcia &ndash;
Chief Executive Officer (appointed by the Company)</FONT></TD></TR></TABLE>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="margin: 0">Ms. Tia L. Jenkins, page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 42.55pt">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 42.55pt"></TD><TD STYLE="width: 21.25pt"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">2.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">Sunil Gupta &ndash; Chief Financial Officer
(appointed by The Coca-Cola Company)</FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.25in">&#9;The Coca-Cola Company
appoints (and may remove) the chief financial officer of CCFPI, who oversees and supervises CCFPI&rsquo;s comptroller role, in
order to be actively involved in the day-to-day operations of the business and have access and manage the financial and operational
information of CCFPI, including following the Four-Year Period. The Company has the right to appoint (and remove) the chief executive
officer and all other officers since the Company, following the Four-Year Period, will eventually control CCFPI. All of CCFPI&rsquo;s
officers act upon the decisions taken by the board of directors, which decision-making process is described in the responses to
questions 1 and 2 above.</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif"><B>4.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif"><B>Please tell us how you considered the
related party relationship between KOF and KO in making your determination on consolidation. Refer to IFRS 10.B73 &ndash; 75 and
IFRS 10.B18(d) and (e).</B></FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">At the
Company&rsquo;s level, there is a shareholders agreement between Fomento Econ&oacute;mico Mexicano, S.A.B. de C.V.
(&ldquo;<U>FEMSA</U>&rdquo;), the Company&rsquo;s controlling holding company, and The Coca-Cola Company relating to the
Company&rsquo;s corporate governance, and a board of directors the members of which are appointed in its majority by FEMSA
(13 directors of a total of 21 directors), with five members appointed by The Coca-Cola Company (&ldquo;the <U>Company&rsquo;s
Shareholders Agreement</U>&rdquo;), which provides governance terms with respect to matters similar to the Relevant
Activities and to extraordinary matters; and provides that the board of directors may decide on all matters similar to the
Relevant Activities, only with the approval of the majority of directors appointed by FEMSA.</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">The Shareholders Agreement
in similar terms to the Company&rsquo;s Shareholders Agreement establishes a distinction between Relevant Matters and other extraordinary
matters; however and despite how the decisions are taken pursuant to the Company&rsquo;s Shareholders Agreement, CCFPI has a separate
board of directors and a specific shareholders agreement between the Company and The Coca-Cola Company, which sets out the rules
that govern CCFPI, which provide for a joint governance during the Four-Year Period.</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">Regarding IFRS 10.B18(d)
and (e), the Company and The Coca-Cola Company are directed by their respective separate board of directors and management.</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">Regarding IFRS 10.B73
&ndash; 75, as described elsewhere in this response letter, during the Four-Year Period, CCFPI&rsquo;s corporate governance is
effectively managed on a 50/50 basis; therefore, both the Company and The Coca-Cola Company jointly approve any Relevant Activity
or extraordinary matter of CCFPI.</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif"><B>5.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif"><B>Please provide a deeper analysis of
the call option to determine whether the option is substantive, including (1) its design and purpose and (2) whether the company
considered it to be deeply out of the money at December 31, 2014 and 2013 and expects it to remain deeply out of the money over the option life. In your response, please also address the following:</B></FONT></TD></TR></TABLE>


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    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="margin: 0">Ms. Tia L. Jenkins, page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">The principal purpose
of the Company&rsquo;s call option is to limit the exposure of the Company to an even larger investment in a new region with different
dynamics than those of the Company&rsquo;s current operations in Latin America as well as to share any and all operating risks
of CCFPI with The Coca-Cola Company, and have sufficient time for the</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Company to understand the bottling business
and general market conditions in the Philippines.</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">Pursuant to IFRS 10.B22
and subsequent sections, the nature of the Company&rsquo;s call option to acquire the remaining 49% of CCFPI is currently non-substantive
primarily because the option is &ldquo;out of the money&rdquo;. In addition, the Company has not exercised the call option not
only because it is &ldquo;out of the money&rdquo; but because as of this date, CCFPI has not yet reached the projected returns
and has not yet created the expected value of the business. The Company would consider exercising the call option when the business
achieves its full potential, reaches the projected returns and the call option is &ldquo;in the money&rdquo;.</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font: 12pt Symbol">&#183;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif"><B>You state that the call option was &ldquo;out of the money&rdquo;
by approximately 17.72% and 16.46% as of December 31, 2014 and 2013, respectively. Tell us how out of the money the options were
in monetary terms (i.e., what is the option strike price).</B></FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">The Company estimates
that the call option was &ldquo;out of the money&rdquo; as of December 31, 2014 and 2013. As of December 31, 2014 and 2013, the
call option was &ldquo;out of the money&rdquo; by approximately 17.72% and 16.46% or US$107 million and US$97 million, respectively,
with respect to the strike price of US$710 million and US$685 million in 2014 and 2013, respectively. The Company calculated these
percentages as the difference between the strike price and the fair value price, divided by the fair value price. The fair value
price is the estimated level 3 fair market value of CCFPI as of the measurement date times 0.49.</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">The Company cannot anticipate
with certainty whether the option will remain &ldquo;out of the money&rdquo; over the option life. The Company will continue running
the corresponding valuations at the end of each year during the remaining life of the option to confirm if the call option is &ldquo;in,
or out of the money&rdquo;.</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font: 12pt Symbol">&#183;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif"><B>We note management&acute;s statement from the February 25, 2015
(Q4 2014) earnings conference call transcript that &ldquo;&hellip; given the structure that we have on that call option and the
way it was structured together with the Coca- Cola Company it makes a lot of sense for us to delay that exercise until we feel
very comfortable there. The carrying cost for that option is very small and financially it makes a lot of sense to wait until
the end of that  &ndash; of the seven years after from the acquisition point.&rdquo; Please explain to us why it makes
sense for you to delay exercise and why the carrying cost is very small.</B></FONT></P>


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    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="margin: 0">Ms. Tia L. Jenkins, page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 0.75in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 0.75in; text-align: justify"><B></B></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">The Company will decide
to exercise or delay the exercise of the option based on the results of periodic analysis that take into account the fair market
value of CCFPI relative to the strike price of the option, as well as its carrying cost. The exercise of the call option currently
does not make business sense considering its current financial and operational conditions, and because a delay in exercising the
option does not represent a significant cost considering the carrying cost of 3.75% per annum.</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif"><B>6.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif"><B>Please provide a deeper analysis of
the other benefits that would arise from the call option exercise. In this regard, it appears that multiple benefits may arise
from controlling CCFPI.</B></FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">In the event that the
Company exercises the call option to acquire the remaining 49% of CCFPI it would do so, in the understanding that the Company estimates
that the business will be profitable and will create value as expected in the near future. If this option is exercised, the Company
will have control over CCFPI; the Shareholders Agreement will terminate; and therefore no joint approval will be required to take
any decisions to be adopted by CCFPI&rsquo;s board of directors or otherwise. In addition, the Company will receive 100% of the
dividends and other distributions paid by CCFPI, the Company will have a profitable business, if CCFPI is achieving the projected
returns, and the Company will have a plentiful presence in the Philippines.</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 35.4pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif"><B>7.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif"><B>Please clarify who makes decisions about
relevant activities after January 25, 2017, and tell us whether you anticipate any changes in the control conclusion after this
date.</B></FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">Unless the Company agrees
with The Coca-Cola Company to extend the Four-Year Period considering financial and other market conditions of CCFPI, upon the
expiration of the Four-Year Period (i.e. January 25, 2017), the Relevant Activities will be approved by a majority of the board,
without requiring the affirmative vote of any member appointed by The Coca-Cola Company. Since the Company appoints a majority
of the board of directors, it would have the right to approve CCFPI&rsquo;s Relevant Activities pursuant to the Shareholders Agreement
and therefore, will have the control of CCFPI and will start consolidating CCFPI&rsquo;s business in accordance with the provisions
of IFRS 3.41 - 43. Notwithstanding the above, upon the expiration of the Four-Year Period, any extraordinary matter will still
need the joint approval of both the Company and The Coca-Cola Company as mentioned in the response to question 2 above.</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif"><B>8.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif"><B>Please describe to us the
                                                                                                                                      exposures or rights to variable returns from your investment with the investee apart from your share ownership interest.
                                                                                                                                      Also, tell us whether you issued the investee
any loans or guarantees, and if so, the respective amounts.</B></FONT></TD></TR></TABLE>


<!-- Field: Page; Sequence: 9 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="margin: 0">Ms. Tia L. Jenkins, page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify"><B></B></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 0.25in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">There are no exposures
or rights to variable returns from the Company&rsquo;s investment apart from its share ownership interest and neither the Company
nor The Coca-Cola Company has granted any loan or guarantee to CCFPI. Pursuant to the Shareholders Agreement, in the event CCFPI
requires funding in excess of the resources available pursuant to the Annual Normal Operations Plan, the Company and The Coca-Cola
Company may elect to have CCFPI finance itself on a stand-along basis or may elect to make additional capital contributions on
terms and in a manner mutually acceptable to them. However, this does not require the Company or The Coca-Cola Company to fund
future losses of CCFPI.</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">Also, as requested by
the SEC, the Company acknowledges that:</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">it is responsible for the adequacy and
accuracy of the disclosure in its filings;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">SEC&rsquo;s comments or changes to disclosure
in response to SEC&rsquo;s comments do not foreclose the SEC from taking any action with respect to the filing; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">it may not assert SEC&rsquo;s comments
as a defense in any proceeding initiated by the SEC or any person under the federal securities laws of the United States.</FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify; text-indent: 28.05pt">Thank you for
your consideration of the Company&rsquo;s response. If you or any other member of the SEC has any further questions or comments
concerning the response, or if you require additional information, please do not hesitate to contact Duane McLaughlin at Cleary
Gottlieb Steen &amp; Hamilton LLP at (212) 225-2000.</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify; text-indent: 28.05pt">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify; text-indent: 28.05pt"></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt 216.05pt; text-align: justify; text-indent: 0.5in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Very truly
yours,</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt 216.05pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 177pt; text-align: center; text-indent: 35.4pt">Mr. Hector Trevi&ntilde;o
Guti&eacute;rrez</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 141.6pt; text-align: center; text-indent: 35.4pt">&nbsp;&nbsp;Chief Financial
Officer</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 241pt; text-align: center; text-indent: -14.2pt">&nbsp;Coca-Cola FEMSA,
S.A.B. de C.V.</P>



<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify; text-indent: 28.05pt"></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt 216.05pt; text-align: justify; text-indent: 0.5in"></P>


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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
