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United States
Securities and Exchange Commission
Washington, D.C. 20549

FORM 20-F

(MarkOne)
REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934
OR
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2021
OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
OR
SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission file number 1-37791

COCA-COLA EUROPACIFIC PARTNERS PLC
(Exact name of Registrant as specified in its charter)
England and Wales
(Jurisdiction of incorporation or organization)
Pemberton House, Bakers Road, Uxbridge, UB8 1EZ, United Kingdom
(Address of principal executive offices)
Contact
(Clare Wardle, General Counsel & Company Secretary, +44 (0)1895 231 313, secretariat@ccep.com, Pemberton House, Bakers Road, Uxbridge, UB8 1EZ, United Kingdom)



Securities registered or to be registered pursuant to Section 12(b) of the Act:
Title of each class Name on each exchange on which registered
Ordinary Shares of €0.01 each Nasdaq Stock Exchange
Securities registered or to be registered pursuant to Section 12(g) of the Act: None.
Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: None.
Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered by the annual report: 456,235,032 Ordinary Shares of €0.01 each
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act    Yes  x    No  o
If this Report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934    Yes  o    No  x
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days:    Yes  x    No  o
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T(§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes  x    No  o
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging growth company. See definition of large accelerated filer,"accelerated filer, and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer
x
Accelerated filer
o
Non-accelerated filer
o
Emerging growth company

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. Yes      No  o
Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing.
U.S. GAAP
o
International Financial Reporting Standards as issued by the International Accounting Standards Board
xOther
o
If “Other” has been checked to the previous question indicate by check mark which financial statement item the registrant has elected to follow:    Item 17  o    Item 18  o
If this is an annual report, indicated by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  o    No  


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FURTHER TOGETHER 2021 INTEGRATED REPORT AND FORM 20-F

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COCA-COLA EUROPACIFIC PARTNERS – ONE OF THE WORLD’S LEADING CONSUMER GOODS COMPANIES. MAKING, MOVING AND SELLING SOME OF THE WORLD’S MOST LOVED BRANDS. Strategic Report 2 Performance indicators 4 Conversation with our Chairman and CEO 8 Our portfolio 9 What we do and how we do it 10 Our operations 12 Our stakeholders 15 Section 172(1) statement from the Directors 16 Our strategy 17 Succeeding in a changing landscape 18 Sustainability – Action on 20 Sustainability governance framework 21 Task Force on Climate-related Financial Disclosures (TCFD) 37 Our people 40 Operating with integrity 42 Principal risks 48 Viability statement 49	 	Non-financial	information	statement 50	 Business	and	financial	review Governance and Directors’ Report 65 Chairman’s introduction 66 Board of Directors 67 Directors’ biographies 72 Senior management 74 Corporate governance report 82 Nomination Committee Chairman’s letter 83 Nomination Committee report 86 Audit Committee Chairman’s letter 87 Audit Committee report 92 Directors’ remuneration report 92 Statement from the Remuneration Committee Chairman 94 Overview of remuneration policy 95 Remuneration at a glance 96 Annual report on remuneration 108 Directors’ report 111 Directors’ responsibilities statement Financial Statements 113 Independent Auditor’s reports 129	 Consolidated	financial	statements 134	 	Notes	to	the	consolidated	financial	statements 184	 Company	financial	statements 188	 	Notes	to	the	Company	financial	statements Other Information 195 Risk factors 203 Other Group information 218 Form 20-F table of cross references 220 Exhibits 222 Glossary 226 Useful addresses 227 Forward-looking statements C on te nt s None of the websites referred to in this Annual Report on Form 20-F for the year ended 31 December 2021 (the Form 20-F), including where a link is provided, nor any of the information contained on such websites, are incorporated by reference in the Form 20-F. Coca-Cola	Europacific	Partners	plc	Registered	in	England	&	Wales,	Company	number	0971735

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Our purpose Solid track record of delivery and execution Great, value creating API acquisitition Even stronger strategic relationship with The Coca-Cola Company Leading portfolio of products and brands within a large and growing category Highly engaged, talented &	skilled	workforce Aspiring to be the world’s most digitised bottler Leading sustainability agendaSolid balance sheet, strong free	cash	flow	generation REFRESH EUROPE, THE PACIFIC AND INDONESIA – GREAT BEVERAGES, GREAT SERVICES, GREAT PEOPLE. DONE SUSTAINABLY FOR A BETTER SHARED FUTURE.

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Performance indicators Financial Data legend Europe (€m) 2020 2021 API (€m) 2020 2021 *DuetothesignificanceoftheCoca-Cola Amatil(CCL)acquisitionduringtheyear, revenue,comparableoperatingprofitand ROIChavebeenpresentedonaproforma basistoprovideinvestorswithrelevant informationaboutthecombinedGroup. RefertoBusinessandFinancialReview on pages 50–63forareconciliationofour IFRSreportedresultstotheproforma financialinformationandnon-GAAP performancemeasures. Revenue on a pro forma comparable basis* €14.8bn The revenue increase was driven by a 4.5% increase in pro forma comparable volume, reflecting	the	reopening	of	the	 away from home channel and increased consumer mobility given the easing of COVID-19 restrictions. Solid trading in the home channel continued, benefitting	from	increased	at	 home occasions as well as continued growth in online grocery. Pro forma comparable Fx neutral revenue per unit case	grew	by	3.0%,	reflecting	 positive pack and channel mix following the reopenings in the away from home channel, positive brand mix and favourable underlying rate. Europe (€m) €10,606m €11,584m API (€m) €2,929m €3,235m Operating	profit	on	a	pro	 forma comparable basis* €1.9bn Pro forma comparable operating	profit	increased	by	 26.0%,	reflecting	the	increased	 revenue. This increase in topline growth was moderated by an increase in variable expenses given higher volumes, as	well	as	commodity	inflation	 and higher concentrate costs. This was partially offset by structural	efficiencies	from	 Europe’s Accelerate Competitiveness and API’s Fighting Fit programmes, as well	as	combination	benefits	 and our continuous efforts on discretionary spend optimisation. Europe (€m) €1,194m €1,500m API (€m) €301m €386m Diluted earnings per share (EPS) on a comparable basis* €2.83 Comparable diluted EPS increased by 57% driven by the increase in comparable operating	profit.	 Free	cash	flow* €1.5bn Despite the challenging backdrop and continued investments in our portfolio, people, sustainability initiatives and digital capabilities, we generated nearly €1.5 billion of	free	cash	flow.	This	highlights	 the strength of our free cash flow	generation,	supported	 by our disciplined capital expenditure and working capital improvement initiatives. Pro forma return on invested capital (ROIC)* (%) 8.0% ROIC remains a high priority for us and we will continue to	focus	on	driving	profitable	 revenue growth, capital efficiencies	and	creating	value	 from the Acquisition of CCL. Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-F +7.5% pro forma comparable Fx neutral revenue Key highlight 2 Governance and Directors’ Report Financial Statements Other InformationStrategic Report

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Data legend Europe 2020 2021 API(A) 2020 2021 Formoreaboutoursustainability  commitmentsandprogress, see pages 18–36 Key AU Australia ID Indonesia NZ New Zealand (A) The acquisition of API completed on 10 May 2021. The API sustainability metrics are presented on a full year basis for 2021 and 2020 to allow for better period over period comparability. (B) Our baseline year is 2019, following the approval of our new science based GHG emissions reduction target in 2020, in line with SBTi guidance. To analyse progress over a longer period, we also disclose a 2010 baseline year. (C) 2020 data has been restated due to more accurate data becoming available. (D) This covers all products including water, juice and dairy, excluding products that contain alcohol. (E) This excludes the amount of water used for the production of products that contain alcohol. Performance indicators CONTINUED Sustainability Safety Total incident rate (number per 100 full time equivalent employees) Europe 1.16 1.11 API 0.88 0.75 When it comes to our people, suppliers, contractors and visitors, safety is vitally important. Tragically, we saw four employee fatalities during 2021; one in Belgium and three in Indonesia. The incidents were investigated with the local authorities and we continue to improve our safety procedures to prevent recurrence. We are working towards world class safety standards and our Health, Safety and Mental Wellbeing policy ensures we are working to adopt best practices. We aim to reduce our total incident rate to below 1 by 2025. Water Water use ratio (litres of water/ litre of product produced) Europe 1.57 1.58 API(E) 1.84 1.75 Water is an essential resource for our business. It is the main ingredient in many of our products and is also essential for our manufacturing processes, and for the agricultural ingredients we depend upon. Climate change is altering weather patterns around the world, causing water shortages and droughts in some areas and	floods	in	others.	 We are committed to addressing these challenges by reducing our own water consumption on a continual basis and protecting local water sources in partnership with local communities. GHG emissions % GHG emissions reduction across our value chain(B) Europe(C) Versus 2010 38.1 38.9 Versus 2019 11.4 12.4 We take seriously the responsibility to reduce our greenhouse gas (GHG) emissions, to mitigate climate change and to protect the future of our planet. In Europe, we have a clear ambition to reduce our GHG emissions across our entire value chain by 30% by 2030 (versus 2019) and to reach net zero GHG emissions by 2040. Our GHG emissions reduction target is approved by the Science Based Targets initiative (SBTi) as being in line with a 1.5°C reduction pathway. In 2022, we will set a new science based emissions reduction target, including our API territories. Sugar reduction % sugar reduction in our soft drinks since 2015 Europe 15.3 17.9 API(D) 11.2 14.9 AU AU 17.2 20.9 ID ID 9.3 13.4 NZ NZ Concern about the health consequences of obesity, particularly among young people, is increasing. Health authorities, such as the World Health Organisation, and international governments are introducing regulations to control sugar consumption. Together with The Coca-Cola Company (TCCC) and other franchisors, we are committed to meeting consumers’ demands for a greater variety of drinks, including low and no calorie options. We will do this by reformulating our recipes and by providing greater choice, with and without sugar. Packaging – Recycled plastic % of PET used that is rPET Europe 41.3 52.9 API 58.2 59.8 AU AU 39.2 42.3 NZ NZ Extreme waste and pollution, particularly plastic and packaging waste, is a global issue. Packaging represents approximately 40% of our total value chain carbon footprint and we are taking action to drive down the carbon footprint of packaging as part of our path to achieving zero waste and net zero GHG emissions. We aim to achieve this through the key pillars of our packaging strategy: removing unnecessary packaging; innovating in refillable	and	dispensed	 solutions; achieving 100% collection so that packaging can be recycled and reused; and by increasing the recycled content of our packaging. Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-F3 Governance and Directors’ Report Financial Statements Other InformationStrategic Report

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How did CCEP perform in 2021 and what are you most proud of achieving in the year? S We continued to demonstrate the resilience of our business and our ability to operate with agility in such a rapidly changing environment. I am proud of how our colleagues have continued to support our customers, consumers and communities. I’d like to extend my sincere gratitude to everyone at CCEP for their incredible commitment and hard work throughout the ongoing pandemic. Last year was also an exciting year for everyone connected to the business. In May, Coca-Cola European Partners completed the acquisition of Coca-Cola Amatil and	changed	its	name	to	Coca-Cola	Europacific	Partners.	 This	transaction	solidifies	our	position	as	the	largest	 Coca-Cola bottler by revenue and creates a platform for accelerated growth and returns. This combination of two great Coca-Cola bottlers is exciting and we can now grow together by combining the talent, learning and best practices of two fantastic companies, both with a strong shared sustainability focus. A more diverse and inclusive culture will translate into new thinking and new ideas and our people will have even more opportunities to grow and develop. D 2021 was an extraordinary year for CCEP. We are a stronger, more diverse business, built on great people, great service and great beverages – done sustainably. Solid top line recovery, value share gains, operating margin	expansion	and	remarkable	free	cash	flow	 generation demonstrate our strong performance in a challenging	environment.	Our	results	also	reflect	the	 successful acquisition and integration of CCL, a fantastic business to have acquired, at the right time, and we look forward to an even brighter future together. Together with TCCC and our other partners, our focus on core brands, in market execution and smart revenue growth	management	initiatives	solidified	our	position	in	 2021 as the largest fast moving consumer goods (FMCG) value creator. In 2021, we created over €13 billion in retail value(A) for our home channel customers, a year on year increase of €600 million. Coca-Cola Zero Sugar, Coca-Cola Original Taste, Monster and Fanta were all top 10 non-alcoholic ready to drink (NARTD) brands for absolute value growth. We also continued to make progress on our ambition to reach net zero emissions by 2040 and we are investing in making our packaging more sustainable. We continue to challenge our Sustainability commitments, bringing them forward where possible as evidenced by us achieving our 50% rPET commitment in Europe two years early. How is the integration of Coca-Cola Amatil progressing? D We are well underway with the integration and I am extremely pleased with the progress we have made since the Acquisition. We	now	have	a	significantly	bigger	growth	opportunity,	 having acquired a strong business with momentum and potential. We have a broader and more balanced footprint and the number of consumers who can enjoy our drinks is now over 600 million. (A) Retail selling price (i.e. sales at end price to consumer) including retailer mark ups and sales and excise taxes. Conversation with our Chairman and CEO We want to build on the best of both businesses, in key areas like sustainability, digital transformation and our people. Sol Daurella, Chairman Damian Gammell Chief	Executive	Officer D Sol Daurella Chairman S FURTHER TOGETHER Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-F4 Governance and Directors’ Report Financial Statements Other InformationStrategic Report

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S The Acquisition has allowed us to bring together two great companies. In doing so, we’ll be able to go further and faster in pursuing our shared vision for growth, through our consumer led portfolio, collaborative customer relationships and innovation to meet changing consumer needs. I am excited by the prospect of what we can learn from each other and the opportunities to grow our business that this creates. D Following the Acquisition we established a new segment within our operating model named Australia, Pacific	and	Indonesia	(API).	This	structure	ensures	 we remain close to our customers, communities and stakeholders. It allows us to make the most of our deep local insight, experience and market understanding, and	meet	the	specific	needs	of	our	stakeholders.	 We have key talent in place. Peter West leads the new API segment. Peter was previously the Managing Director of Coca-Cola Amatil, Australia. He has extensive knowledge of the FMCG sector and a proven ability to work with customers and partners to drive growth and deliver results. I am extremely pleased with the quick progress we were able to make when integrating API into the wider business. Our pre-existing organisational structure enabled us to extend our combined central functions to support the new segment. From a digital perspective, we have started on the journey to bring our people, systems and processes together to allow us to collaborate to enable us to go further, together. S We’ve developed a proven and successful playbook in Europe. We have a track record of creating value in developed markets – like Australia and New Zealand – through strong revenue growth management, route to market transformation and leading commercial capabilities. Indonesia’s growth potential is particularly exciting, with CCEP now working in one of the world’s most populous and dynamic emerging markets. We want to build on the best of both businesses with our people – in key areas like sustainability, digital transformation and outlet execution – to drive growth and scale faster. We will also further strengthen our strategic relationships with TCCC and our other franchise partners. How are you developing your future ready and entrepreneurial culture within CCEP? S Our success is driven by our great people at CCEP. I’m consistently impressed by their expert local knowledge and passion for our brands and our business. I’m grateful for all they do every day to serve our customers and communities. I’d also like to thank Damian and his leadership team who are helping to create a winning and inclusive culture. I’m also grateful to my fellow Directors for their contribution over the year. I’d like to take this opportunity to thank Irial Finan who stepped down from the Board during 2021, for his outstanding contributions to our business. We welcomed Manolo Arroyo as a new member of the Board in 2021. Manolo brings a wealth of extensive experience working in the Coca-Cola	system	and	as	the	Chief	Marketing	Officer	at	 TCCC. His strategic marketing, commercial and bottling expertise will be an asset to the Board. We have introduced platforms across our geographies to enable our people to share their questions and feedback, and connect with our leadership on all topics relating to our sustainable growth and innovation. This feedback culture and ability to share ideas through various platforms and surveys enables great ideas to rise to the top. We continue to value and invest in our early career talent and support initiatives that help young people gain employability,	skills	and	confidence.	This	includes	offering	 internships, apprenticeships and graduate programmes. We have also launched three new inclusion, diversity and equity	(ID&E)	learning	modules	on	practising	inclusive	 leadership,	starting	an	ID&E	conversation	and	allyship.	 We’ve been working hard to create a workplace where everyone feels welcome to contribute and be at their best. We want to create an environment that empowers everyone to thrive, where everyone can contribute to the growth of CCEP and where everyone feels respected and able to share their ideas and perspectives. D Our people strategy, Me@CCEP, sets out how we are building a winning culture where a diverse range of talents can grow and collaborate together. We encourage an environment where different perspectives and insights are valued at all levels of the organisation, and we have put inclusion right at the heart of our working culture. We have a focus on agile ways of working and creating an ownership mindset, where people feel empowered and	confident	to	take	appropriate	risks	and	win	together.	 We have provided training to develop core capabilities in leadership, commercial and customer service and supply chain.	We	continue	to	progress	plans	for	working	flexibly	 as we emerge from the pandemic. How are you promoting the health, safety and wellbeing of your colleagues? S Our people’s physical, mental and social wellbeing remain our priority and we continue to promote this in our workplace. Amid the stress and disruption caused by the COVID-19 pandemic, it’s more important than ever that we look after our people’s wellbeing and mental health. We have grown our Wellbeing First Aider initiative to build an internal support network for mental health. D Despite our focus and drive for continuous health and safety improvement, tragically four colleagues lost their lives in 2021 and one colleague lost their life in early 2022 while working for CCEP. Four fatal incidents occurred in Indonesia and one in Belgium. My heart goes out to their families, friends and colleagues. The safety and wellbeing of our people is vitally important. We have learned lessons from these terrible tragedies. It is our aim that the health of our colleagues, both physical and mental, is not detrimentally impacted by working at CCEP. We aspire for all employees to feel happy, healthy and to work with integrity and respect, enabling us all to thrive at work and in our home lives. Conversation with our Chairman and CEO CONTINUED Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-F5 Governance and Directors’ Report Financial Statements Other InformationStrategic Report

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How is CCEP developing its digital capabilities? D Technology is not only shaping the way that our consumers and customers interact with us, but also how we operate as a business. It is becoming increasingly important to modernise the way that people connect and communicate with each other in a more digital workplace. Using	technology	will	enable	us	to	become	more	efficient,	 and help us drive revenue and manage our costs. At CCEP we are evolving into an ever increasingly data driven organisation as we effectively and consistently utilise data in our decision making process across all levels of the organisation. Our journey to become the world’s most digitised bottler will	benefit	all	areas	of	our	business.	From	the	way	we	 procure, to platforms we use to drive sales, using digital technology will unlock growth and new opportunities. We will also be able to use data analytics to improve our demand and supply chain planning, enabling us to continue to make the drinks consumers want, when they want them. To improve our demand planning, we are combining machine learning and advanced analytics to	improve	performance	for	case	fill	on	time,	forecast	 accuracy and manufacturing adherence. S Digital technology and innovation have always been a key focus for CCEP, and we are continually looking for ways to improve our service and making it even easier to do business with us. We’re turning data and analytics into a competitive differentiator. This will be delivered by evolving our data and analytics team and capabilities, harmonising our data foundations so data can be managed as an asset, driving a company wide awareness and interest in data, and executing our multi year strategic roadmap to incrementally derive business value from data. We are also investing in our workplace tools to promote collaboration across our teams. D 	Over	the	past	two	years	we’ve	seen	significant	 behavioural shifts in society. Changes in how people live, shop and work continue to inform how we serve our customers and get our products to consumers. This gives us an opportunity to leverage our digital capabilities and grow our business, as well as create even more value for our customers and retail partners. Our customer portal My.CCEP.com is an important part of our digital acceleration. It is helping us be the best online partner to our customers and drive revenue growth for our business. The platform is now live in all of our European markets, following its successful launch in Germany at the end of 2021. With 76,000 customers, we’ve doubled the amount of customers on the platform since last year. Changes in routines brought many new shoppers into the online grocery channel. In many markets our online share	of	soft	drinks	is	higher	than	in	store,	reflecting	our	 dedicated efforts to drive e-commerce sales together with our customers. Through our innovation investment programme, CCEP Ventures, we aim to identify and implement transformative ways of doing business. Business to business (B2B) e-commerce is just one exciting growth area that is a focus for CCEP Ventures. We	also	continued	to	grow	through	our	first	ever	direct	to	 consumer platform Your Coca-Cola in GB. This platform allows consumers to stock up on their favourite drinks brands	as	well	as	popular,	harder	to	find	products	like	 Diet Coke Caffeine Free, often in slightly larger packs than those currently available through traditional retail channels. This move will help us tap into the rapid growth of online shopping and offer consumers even more choice. Digital solutions will help us continue to win with our customers and grow our business. The COVID-19 pandemic has shown the important role digital platforms play for customers and consumers, and we will continue to harness this opportunity. What progress has CCEP made with its sustainability commitments? D COP26 made clear the urgency for businesses to deliver	bold	climate	action.	We	took	a	significant	step	in	 2020, by setting an ambition to reach net zero emissions by 2040 and reduce our GHG emissions across our entire value chain by 30% by 2030 (vs. 2019). These are ambitious targets, and we are accelerating the decarbonisation of our business. Our targets are aligned with	a	1.5˚C	pathway	and	are	approved	by	the	SBTi.	 This means that we have a credible goal that will require meaningful and sustained action. This year we will update our 2030 science based emission reduction target to include API. S Sustainability is absolutely fundamental to everything we do as a business. We will continue to push ourselves to go further, faster to decarbonise our business. Our continued listing on the Dow Jones Sustainability Index (DJSI) reinforces the ongoing progress we are making. In 2021 CCEP was recognised for leadership in corporate sustainability	by	global	environmental	non-profit	CDP	 for the sixth consecutive year, securing a place on its prestigious ‘A List’ for climate, as well as water security. CCEP is one of 53 companies globally to have achieved an ‘A’ position for both climate and water, which demonstrated the focus we place on sustainability. In Australia and Indonesia, we are investing in new PET recycling facilities. These collaborations are a step forward towards creating a circular economy for PET and will contribute to further accelerating our journey towards the ultimate goal of using 100% recycled or renewable plastic. In 2021, we completed a three year solar panel project at our production facility Cibitung in Indonesia, the second largest rooftop solar project in South East Asia and the fourth largest in the world. As part of our path to net zero we’ve already transitioned three production facilities to become	certified	as	carbon	neutral	as	part	of	a	pilot	 programme that aims for at least eight sites to become carbon	neutral	certified	by	the	end	of	2023. We are closely connected to our local communities. We are committed to protecting our environment and support environmental programmes through investment and volunteering. Sustainability is a subject that I personally feel very strongly about. I would like to thank all of our colleagues, customers, partners, suppliers and stakeholders who are working with us to take the action required to tackle climate change. We still have a long way to go and we are determined to work together to achieve our sustainability ambitions. Conversation with our Chairman and CEO CONTINUED Our customer portal My.CCEP.com is an important part of our digital acceleration. Damian Gammell,	Chief	Executive	Officer Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-F6 Governance and Directors’ Report Financial Statements Other InformationStrategic Report

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How is CCEP’s relationship with TCCC developing? D CCEP has always been closely aligned with TCCC strategically and the relationship has grown even stronger over the past year. TCCC’s support for the Acquisition was a further endorsement of the strong alignment we have built since the formation of CCEP. The relationship has continued to develop and grow, demonstrated through our agile collaboration and decision making during the year against a challenging backdrop. Together, we ensured the continuity of supply of the products our consumers wanted to buy by prioritising core brands and packs. We also continued to launch and scale new brands into our markets such as Costa Coffee and Topo Chico, which we look forward to developing further in 2022. S We worked closely with TCCC following the completion of the Acquisition. We are partnering closely with them to develop value creating plans across the API region. Our strong platform and alignment with TCCC, built on the success of operations in Europe, is an asset that we’re clearly going to translate together into an even better future for our API segment. We have already started to work on reorienting our portfolio in Australia and New Zealand. We have reviewed our portfolio in these markets to assess the size and future growth opportunities within the different NARTD categories. We’ve established a future vision for our portfolio, customer and consumer environment plans that we will use with TCCC to execute and win in the market. Our strong relationship with TCCC is also driving forward our sustainability strategy, which works side by side with TCCC’s World Without Waste strategy. What’s next for CCEP? D We continue to protect our business for the short term and	are	confident	in	our	ability	to	mitigate	near	term	 inflationary	pressures	and	navigate	global	supply	chain	 challenges. Key levers are pricing, mix, procurement initiatives	and	our	transformational	efficiency	programmes.	 We’re combining these levers with disciplined investments for long-term future growth, particularly in our portfolio, our people, digital and sustainability. The integration of API is well underway, and it is very much now part of the CCEP family as our sixth geographical business unit. We are very excited with the growth plans we are developing with TCCC, both in applying our proven playbook in developed markets as well as unlocking the long-term transformation potential of Indonesia. We will continue to expand our total beverage portfolio while strengthening core capabilities that will drive sustainable success. We will continue to invest in our supply chain. Last year saw us invest €560 million. I would like to thank our people for their extraordinary efforts during the year and our customers, suppliers and all of our stakeholders for their interest and partnership. We	are	deeply	concerned	and	saddened	by	the	conflict	 and suffering in Ukraine. CCEP has joined the Coca-Cola system in providing support to the humanitarian relief efforts in Ukraine and neighbouring countries. We are contributing	financial	aid	to	the	International	Federation	 of the Red Cross and local Red Cross branches, and product donations to refugee centres. We join others across the world in calling for peace to return to Ukraine. S We will continue to invest in our people and developing an inclusive and safe environment for people to be at their best. Working with our franchise partners, we have exciting plans for our portfolio, and we are focused on the capabilities and technologies needed to offer our customers a great experience. Above all, we are acutely aware of the challenges facing society and we are committed to building a better future – for our business, for people and for the planet. We are making a difference and believe we have the right foundation to drive sustainable growth and, as evidenced by our 2021 dividend being our largest ever, delivering increased shareholder value. We remain focused on the next stage of our journey and I’d like to thank all our stakeholders and investors for continuing to be a part of it. Conversation with our Chairman and CEO CONTINUED We also continued to launch and scale new brands into our markets such as Costa Coffee and Topo Chico, which we look forward to developing further in 2022. Damian Gammell,	Chief	Executive	Officer Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-F7 Governance and Directors’ Report Financial Statements Other InformationStrategic Report

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25.5% 7.5% 8% 59% We work with franchise partners to offer consumers a wide range of drinks for every taste and occasion, with or without sugar, to create value for our customers. Our portfolio We are reducing the environmental impact of our manufacturing, distribution and packaging while reducing sugar across our portfolio and making it easier for people to manage their sugar consumption. Our focus is on growing our core brands and expanding into categories like ready to drink (RTD) tea, coffee and alcohol. Coca-Cola® Flavours, mixers and energy Hydration RTD tea, RTD coffee, juices and other Our Coca-Cola brands come in a range of variants that offer consumers a great choice	of	flavours,	with	or	without	sugar.	 2021 saw the launch of a new brand identity for Coca-Cola Original Taste, Diet Coke/ Coca-Cola Light and Coca-Cola Zero Sugar designed to stand out on shelf and make it easier to navigate the different Coca-Cola variants. Coca-Cola also introduced a new marketing platform, Real Magic, and a new “Hug” logo. Coca-Cola Zero Sugar continued to grow with volume up 8.5% from 2020. We also marked UEFA EURO 2020 with limited edition pack designs and in store displays across all channels and customers. This activity focused on attracting consumers at various touch points in the path to purchase journey. We ended the year with consumer campaigns to make Coca-Cola a part of festive meal occasions. In 2021, and in partnership with Monster Energy, we continued to expand our Monster range with the introduction of four new Monster variants including Monster Mule. With gaming an interest for many Monster consumers, we supported a partnership with Apex Legends and launched Monster Ultra Watermelon. We continue to build our presence in the functional energy category with the rollout	of	more	Reign	flavours,	all	of	 which contain no sugar, no calories and no	artificial	colours	or	flavours. Fanta continued to grow, supported by a marketing campaign and strong in store execution during Halloween. The launch of What The Fanta Launch Zero Sugar, was supported by great on and off shelf execution, driving sales above expectations.	Fanta	also	benefitted	 from a strong period in Indonesia during Ramadan. The hydration category is typically heavily reliant on immediate consumption, with consumers buying hydration products in on the go stores, which continued to see an impact from the pandemic in 2021. The performance of our hydration products	continued	to	reflect	this	ongoing	 impact of COVID-19 and changes in consumer behaviour. However, the category grew by 9.5% in the fourth quarter	of	2021,	reflecting	fewer	restrictions	 and increased mobility in the quarter. The rollout of Costa Coffee continued across our European markets with launches in Belgium, Norway and Spain. More markets will be added in 2022. Fuze Tea remains an important part of our portfolio, growing by 9.5% compared to 2019. We celebrated the festive winter period with a Fuze Tea Winter edition. As COVID-19 restrictions eased, the juice category grew, particularly Capri-Sun, which	benefitted	from	increased	on	the	 go consumption. We continue to pursue opportunities in alcohol, led by Topo Chico. To simplify our alcohol portfolio, we announced that we would exit the production, sale and distribution of beer and apple cider products in Australia. 2021 Brand category volume of sales Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-F8 Governance and Directors’ Report Financial Statements Other InformationStrategic Report

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What we do and how we do it For a better shared future ─ Creating value for all our customers, big and small ─ Contributing to local economies ─ Supporting our communities ─ Trusted by shareholders and stakeholders Great people – A great place to work, where people can grow, be happy and be well – A safe, open, diverse and inclusive workplace – Winning capabilities, agility and a performance mindset – Following our Code of Conduct (CoC) Great service – Decision	making	close	to	the	customer,	with	the	benefits	 of scale – Easy to do business with – Known for world class execution – Agile	and	flexible	 Great beverages – Category leadership with great-tasting drinks for every occasion and brands people love – Top quality and right every time – Brought to life through powerful partnerships with brand owners Done sustainably – Unwavering commitment to our sustainability action plan, This is Forward – Ambition to reach net zero emissions by 2040, lead the way toward a circular economy and provide a great choice of low and no calorie drinks Powered by our people We employ around 33,000 people across our business. They make and sell our great beverages and help our customers grow by providing great service. They work with our communities as we seek to work sustainably and help them thrive. Source raw materials We use ingredients such as water, sugar, coffee, juices and syrup to make our drinks. We also rely on materials like glass, aluminium, PET, pulp and paper to produce packaging. We require our suppliers to meet strict targets around workplace policies and practices, health and safety, ethics and human rights, environmental protection and business integrity. Distribute to our customers We distribute our products to customers and vending partners directly and by working closely with logistics partners. Work closely with customers who sell to consumers Our nearly 12,900 strong commercial team work with a huge range of customers, ranging from small local shops, supermarkets and wholesalers to restaurants, bars and sports stadiums, so consumers can enjoy our great products wherever they are and whenever they want. We also provide cold drink equipment (CDE) and supply vending machines so people	can	find	our	drinks	on	the	go. Make great tasting drinks Our production facilities make and bottle our wide range of drinks. We’re continually improving our production facilities. We produce safe, high quality products for our customers and consumers. Over 90% of the drinks we sell are produced in the country in which they are consumed. Work with TCCC and other franchisors TCCC and other franchisors make and sell concentrates, beverage bases and syrups, own the brands and are responsible for consumer brand marketing. We operate under bottler agreements with TCCC and other franchisors, and purchase the concentrates, beverage bases and syrups to make, sell and distribute packaged beverages to our customers and vending partners. Work with partners, encouraging 100% collection to reuse packaging Although 98%(A) of our bottles and cans are recyclable, they don’t always end up being recycled. That needs to change. We’re determined to lead the way towards a circular economy for our packaging where, working with partners, we encourage the collection of all packaging so that materials are recycled and reused. (A) Europe only. Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-F Findoutmoreaboutwhereourpeopleworkonpages 10–11 Findoutmoreaboutourportfolioofdrinksonpage 8 SeeourThisisForwardsustainabilityactionplanonpage 18 9 Governance and Directors’ Report Financial Statements Other InformationStrategic Report

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Region Revenue by geography(A) No. of employees(B) Production facilities(C) Australia 62.4% 3,539 13 New Zealand and Pacific	Islands 17.3% 1,785 12 Indonesia and Papua New Guinea 20.3% 6,131 11 (A) Revenue shown is percentage of total reported revenue as at 31 December 2021. (B) Number shown is number of employees as at 31 December 2021. (C) Production facilities include NARTD, alcoholic beverage and other manufacturing sites. Our operations – API Following the Acquisition, we established a new segment within our operating model: Australia, Pacific	and	Indonesia	(API).	 This structure ensures we remain close to our customers, communities and stakeholders. In API, we employ around 11,000 people and service around 600,000 customers. Much of our ability to create value for our customers depends on the quality of the service we provide and how we execute in the market. Readmoreabouthowwearesucceedinginachanging landscapeonpage 17 Map legend Production facility Where we operate 2x production facilities Seeourinteractivemaponwww.cocacolaep.com/ about-us/places Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-F10 Governance and Directors’ Report Financial Statements Other InformationStrategic Report

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Our operations – Europe Az ores M ad eira C an ar y I sla nds In Europe, we have around 22,000 people serving 1.1 million customers across 13 countries. We invest, employ, manufacture and distribute locally, maintaining a strong commitment to the wellbeing of our communities. Our ambition is to be the number one supplier in FMCG for our customers. Readmoreabouthowwearesucceedinginachanging  landscapeonpage 17 Bulgaria Map legend Production facility Shared service centre 2x production facilities Where we operate Seeourinteractivemaponwww.cocacolaep.com/ about-us/places Region Revenue by geography(A) No. of employees(B) Production facilities Iberia (Spain, Portugal and Andorra) 21.5% 3,922 11 Germany 20.2% 6,601 16 Great Britain 22.6% 3,277 5 France (France and Monaco) 15.7% 2,506 5 Belgium and Luxembourg 8.0% 2,111 3 Netherlands 4.8% 781 1 Norway 3.4% 548 1 Sweden 3.2% 670 1 Iceland 0.7% 171 2 Bulgaria – 1,017 – (A) Revenue shown is percentage of total reported revenue as at 31 December 2021. (B) Number shown is number of employees as at 31 December 2021. Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-F11 Governance and Directors’ Report Financial Statements Other InformationStrategic Report

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Our stakeholders Our stakeholders are part of our business and play a vital role in our success at every stage in our value chain. From the suppliers that provide our raw materials, to the communities where we operate and the people who make and sell our products, we seek to work together to refresh our markets and make a difference. Our people We are driven by a passion for people and what we do, fostering a diverse, inclusive and safe working environment where everyone’s individuality is valued and they are equipped with the training, tools and opportunity to succeed. Greater diversity creates a powerful platform, boosting creativity and innovation. Our business depends on the great people who make, sell and distribute our products every day. How we engage It’s key our people feel that they have a voice and we provide the opportunity for two way engagement, as teams and individuals, through a range of direct and indirect measures. To encourage engagement with leadership and to ensure our people are kept informed about the matters that affect them as employees, management including the CEO, hold regular town hall meetings and issue other forms of communications. These communications provide a regular cadence of updates regarding CCEP’s results and other developments within the business, including informal drop in opportunities to meet colleagues, such as ‘Share a Coke with…’ Regular market and factory visits also take place. We issue regular pulse surveys on vital topics to listen and act on the voice of our people. These were enhanced during 2021 to provide more opportunity for employees to feedback on how they were feeling and covered topics on wellbeing, engagement and culture, and Inclusion, Diversity	and	Equity	(ID&E).	Our	Speak	Up	line	 enables our people to raise concerns anonymously, free from retaliation. Employees have access to employee portals, Redline in Europe and Workplace in API, where news can be shared, in addition to receiving email updates. We engage and consult with social partners on matters relating to labour relations. Our European Works Council has two plenary and three select committee meetings each year, attended by either the CEO or members of the senior leadership team, to give business updates and insights. In each of our countries we have structural consultation with trade unions. Local work environment committees have been established as well as health and safety committees. Topics arising are shared on a monthly basis with the Group’s leadership team. How the Board engaged Designated Directors Two Non-executive Directors (NEDs), Chairmen of the Remuneration and Nomination Committees, are responsible for ensuring the concerns of the workforce are taken into account by the Board and for reporting to the Board on employee related matters. During the year, the Nomination Committee requested regular feedback from management in relation to employee wellbeing and progress towards our	ID&E	plan.	The	Remuneration	Committee	 considered employee incentives in light of the Acquisition and the reward projects and integration activities planned, including the need for a fair and consistent approach across our workforce. In addition, the Board received, as part of the regular update from the CEO, insights into health and safety of our people and the continued challenges presented by COVID-19. Employee town hall In May 2021, a virtual town hall was held following the Acquisition. Over 2,100 of our people were invited to attend the online session and to submit questions to a panel of Directors. The town hall was an opportunity	for	insights	into	the	first	couple	of	weeks	 of the combined CCEP, the reactions of various stakeholders, the perceived impact on company performance and next steps. The importance of employee safety and wellbeing was emphasised. Employees challenged the panel with tough questions including on CCL’s integration and wellbeing. Other employee interaction The ongoing pandemic restricted travel in 2021. In person meetings were limited to a session with “One Young World” at the October Board meeting where delegates were given an opportunity to ask the Board questions and to discuss how to accelerate positive social impact. The Board were also unable to conduct any physical site visits but a number were attended virtually. Readmoreaboutourpeopleandcultureonpages 37–39 Strategic Report12 Governance and Directors’ Report Financial Statements Other Information Coca-Cola	Europacific	Partners	plc	| 2021 Integrated Report and Form 20-F

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Our Suppliers In Europe we have a network of around 13,200 suppliers and additional local suppliers across our API markets. They supply a wide range of commodities and services such as ingredients, packaging, utilities, equipment,	facilities	management,	fleet	and	logistics,	 sales and marketing, information technology and general administration. We rely on a process to ensure we engage with suppliers, including in areas such as business continuity. Partnering and collaboration with suppliers on sustainability is helping to drive progress on delivering our This is Forward commitments, while sustainable sourcing ensures security of supply of all the commodities and services needed to make, sell and distribute our drinks. How we engage We encourage strategic relationships with our suppliers, encouraging collaboration and fostering investment	to	find	innovative	solutions	to	business	 challenges. This partnership approach helps to ensure suppliers provide high quality, safe and sustainable products and services. In 2021, we engaged with strategic suppliers across Europe and API following the Acquisition, working together under our Supplier Relationship Management (SRM) programme. Due to COVID-19, face to face interaction was limited but we compensated with virtual meetings held at the most senior levels, focusing on supply security and progress on sustainability. We hold supplier days in Europe and API; the last supplier day in Europe was virtual, pre Acquisition in October 2020 with more than 200 unique suppliers in attendance. Prior to the Acquisition, CCL held a supplier day in early 2021. How the Board engaged As part of operating with integrity, we have guidelines approved at Board level setting out expectations and requirements of our suppliers in relation to expected conduct, for example, in relation to human rights, health and safety and other matters. As well as attending our supplier days, the CEO and CFO informs the Board on key supplier relationships and payments. Supplier risk management is also a topic of discussion at the Audit Committee generally as part of the Enterprise Risk Management discussions. Further, due to COVID-19, and in addition to the impacts of Brexit resulting in a shortage of lorry drivers during the latter part of 2021, frequent discussions were held by the Board in relation to the responses of key suppliers, notably their ability to continue to provide services at the required standards within COVID-19 restrictions that may have applied globally from time to time. Readmoreaboutactionwe’retakingonoursupplychain on pages 35–36 How the Board engaged The CEO attends investor conferences, participates in roadshows and is available to shareholders. The Chairman of the Remuneration Committee engages with shareholders on the Remuneration Policy and its implementation. Directors attended the AGM, which provides an opportunity for shareholders to ask questions. In 2021 it was a closed meeting, due to COVID-19. IR provides quarterly updates to the Board covering share price, analyst comments and city reaction, IR activity and the shareholder register and investor feedback. Periodic deep dives are provided along with brokers and analysts sessions, most recently in September 2021. Our Franchisors We conduct business primarily under agreements with TCCC and a limited number of franchisors. These generally give us exclusive rights to make, distribute and	sell	beverages	in	approved	packaging	in	specified	 territories. We drive sales to customers so that our franchisor’s brands are available where and when consumers want them. How we engage We prioritise regular management contact with all our franchisors at different functional, sales and marketing levels, including regular top level meetings with TCCC. Our General Managers (GMs) have ongoing dialogue with franchisors. Annually, from September to February, our GMs present business plans to customers, and we often ask franchisors to join us at these presentations. If an incident or crises arises on product-related issues we will proactively engage with franchisors to resolve the issue. How the Board engaged Our Board engages both directly and indirectly with our franchisors. The Board receives regular updates on franchisors through reports from the CEO and the Chief	Commercial	Officer,	as	well	as	the	Affiliated	 Transaction Committee (ATC) updates including on performance, relationships and key issues. The Board also received an update from the Chairman and CEO of TCCC and his leadership team at the September Board meeting on growth opportunities and strategy. ReadaboutourrelationshipwithTCCCandother franchisorsonpage 201 Our shareholders Our shareholders provide the equity capital for our business, holding management to account on	financial	performance	and	discussing	key	 environmental, social and governance (ESG) issues. We seek support from our shareholders through voting at the AGM and continued investment by long-term shareholders. We maintained our dividend payout ratio of c.50% in 2021, which, following our strong performance during the year, resulted in dividend payouts of €638 million. Readmoreaboutoursourcesoffundingon pages 56–58 How we engage Led by Investor Relations (IR), our comprehensive annual investor engagement plan covered: a virtual Capital Markets Day following the Acquisition explaining how the deal would create significant	value	for	shareholders	and	strengthen	 our	profile	as	an	attractive	and	sustainable	total	 return investment opportunity; the AGM; investor roadshows	(including	ESG	specific	conferences);	 analyst meetings; proxy advisor engagement and consulting major shareholders on executive remuneration; half yearly earnings presentations and webcast conference calls; trading updates with webcast conference calls. Our Company Secretary and IR team engage with investors’ governance teams predominantly around the AGM. Our stakeholders CONTINUED 13 Governance and Directors’ Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FStrategic Report

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Our stakeholders CONTINUED How the Board engaged The Board has limited direct engagement with customers but receives periodic presentations from select customer leaders. In 2021, the Board invited Asda’s CEO to present. The discussion centred on Asda’s commercial proposition and how, in GB, it partners with suppliers and customers. The Board remains committed to understanding our markets and customers. Virtual market visits were arranged in 2021, to mitigate the COVID-19 health and safety risks of in person visits. The Board received insights on matters including field	sales	activation,	marketing	and	adding	 value for retailers. The CEO provides regular updates to the Board on customer relationships, development and engagement including on home channel customer satisfaction metrics and on AFH equivalents when available. The Board is updated regularly on key channel growth, together with changes in coverage and execution performance supporting growth for our customers. Customers were also discussed at the Board strategy session in September 2021. Our Customers We strive to be our customers’ preferred partner. We foster strong relationships with our customers and aim to supply the drinks people want, where and when they want them. Our customer centric operating model is focused on delivering the strongest execution to our frontline and reaching a broad range of outlets, while making it easier to do business with us. How we engage Thousands of our sales force call on our customers every day across all our territories (subject to COVID-19). Our GMs own customer relationships and, together with our sales teams, regularly engage with customers. In 2021, our customer engagement included a four day event with Metro	and	a	customer	event	in	our	Spain	office. We also engage with customers internationally through TCCC’s Global Customer Governance Board, where certain international customers request this single point of contact within the Coca-Cola system. This engagement is limited to our markets under strict legal protocols. During the COVID-19 pandemic, we continued to focus on supporting our customers and keeping retailers stocked. For example, we adjusted production to ensure we were delivering the products that people wanted in store. Our Consumers Drinking motivations and occasions drive demand for a range of drinks. We work with our customers to ensure that the drinks reaching consumers are high quality, safe and taste great. Our franchisors generally own the relationship with the consumers. How we engage Our teams partner with franchisors to understand consumer needs. Customers also provide feedback on consumers. We have limited direct engagement with consumers, although they buy and consume our products. Our consumer care line provided on all our packaging gives consumers the opportunity to give feedback directly and our nutritional labelling on products provides consumers with the information they need to make an informed choice. How the Board engaged The Board attends presentations on trends and behavioural patterns that could affect consumers and our interaction with them. The ATC oversees CCEP’s relationships with franchise partners, through which we are able to keep focus on development	and	diversification	of	our	portfolio.	 An update from the Chairman of the ATC is provided at each Board meeting and the CEO also provides updates to the Board as necessary. The Audit Committee receives updates on any material incidents affecting consumers. The Board has limited direct engagement with consumers but is able to directly engage through market visits. This was limited in 2021 due to COVID-19. Our Communities We have a strong local heritage and presence. We seek to make a positive difference, addressing challenges our communities face by supporting local partnerships and by tackling key local sustainability issues such as litter, health, water stress and youth unemployment. We recognise the economic, social and environmental interaction between our business and our communities. Our people live in our local communities and we use local resources, such as water and transport systems, to make, sell and distribute our products. How we engage We engage with our communities on many different levels. Our local management and Public Affairs, Communications and Sustainability (PACS) team engages directly and employees engage through volunteering. Many of our local charitable and community partnerships, such as local water replenishment projects and youth development programmes, are delivered in partnership with NGOs. Our Group management and PACS team engage more widely in communities on important issues such as the environment, ID&E,	and	empowering	and	supporting	young	 people. They also engage with TCCC on key issues as part of a wider social framework, partnering with pan-European and global NGOs. How the Board engaged Information and updates on CCEP’s community partnerships are provided to the Corporate Social Responsibility (CSR) Committee (the Committee) who has reviewed reports on local water stress and the health of watersheds. Deep dives are provided on key topics of interest to our Committees and the Chairman of the Committee provides the Board with detailed updates at each Board meeting following Committee meetings. Readmoreabouttheworkwedoinlocal communitiesonpages 29–30 14 Governance and Directors’ Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FStrategic Report

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ReadhowourCorporategovernanceframeworkworksinpracticeon pages 74–81 HowtheDirectors,andCCEPmorewidely,haveengagedwithourkeystakeholdersthisyearissetoutonpages 12–14 The Board made several principal decisions during 2021, where the Directors had regard to the relevant matters set out in section 172(1)(a)-(f) of the UK Companies Act 2006 (the Companies Act) when discharging their duties. Here we outline how we approached the Acquisition as a principal decision. Amatil In May 2021, CCEP completed the Acquisition of CCL, cementing our position as the world’s largest Coca-Cola bottler by revenue and one of the leading FMCG companies in the world. The proposed Acquisition was announced in October 2020 and was approved by the Board in April 2021. The Board was supported in its decision making by a panel including Board committees (Audit Committee, ATC)	and	management	committees	(M&A	Committee	 and the Transaction Committee and Integration Committee), spearheaded by the CEO to ensure a successful integration. The Board took into account numerous factors including the impact of the Acquisition on the stakeholder groups below. Shareholders The transaction was aligned with CCEP’s strategy of pursuing inorganic expansion opportunities in developed markets. Management conducted an investment	appraisal	and	financial	analysis	to	support	 the Board in its decision making, demonstrating that the Acquisition would be consistent with CCEP’s long-term	growth	ambitions.	Management	identified	 that value enhancing opportunities could be achieved through the implementation of CCEP’s proven developed market growth strategies. Using valuation modelling techniques, the analysis provided a range of CCL acquisition values, and post acquisition deleveraging projections demonstrated how the return to target leverage in the short-term could be achieved. Once completed, the transaction would be immediately EPS accretive, leading to an increased dividend for shareholders. Using these insights, the Board concluded that the Acquisition would result in value creation for shareholders. Franchisors Franchisors are a key stakeholder group, given the importance of maintaining a strong relationship and alignment with TCCC. Insights from CCEP’s growth trajectory highlighted the importance of our relationship with TCCC and our shared vision of growth. TCCC was confident	in	the	value	accretion	opportunity	from	the	 transaction and agreed to sell their ownership interest in CCL at a discount to the public shareholders. Employees Engaging and retaining our people is a key consideration, ensuring that everyone has a voice and feels valued. The Acquisition created a more diverse workforce and inclusive culture at CCEP. This translates into new thinking and new ideas, providing more opportunities to grow and develop. The Board reviewed day one readiness people plans across the Group, to ensure we had the necessary collaboration processes in place to enable CCL’s integration and provide continuity. It was important to have communication and engagement support available to all employees, so that they felt involved and listened to, and could raise any concerns. Consumers The	Acquisition	significantly	enhances	CCEP’s	 consumer reach. It brings new brands and increasing access to broader need states, such as alcohol and coffee, as well as lessons and experimentation on different pack types to share across geographies. Community and customers API and Europe run local community initiatives with similar priorities, from supporting disadvantaged youth to local environmental groups. It is important that we continue to gain deep local insight in all our territories, building experience and market understanding to meet the	specific	needs	of	these	stakeholders. Environment CCL’s	strong	sustainability	profile	was	a	key	 consideration for the Board. With carbon reduction at its core, CCL’s approach to sustainability was very much in line with CCEP. Together we can build a sustainable tomorrow for our people, customers, communities and shareholders. During 2021, we acted in good faith to promote the long-term success of CCEP. In accordance with the directors’ duties set out in section 172 of the Companies Act, the Board supervises the	profitable	operation	and	development	of	CCEP	to	 maximise its equity value over the long term, without regard to the individual interests of any shareholder. A minority of our Non-executive Directors (NEDs) were appointed by major shareholders of CCEP. However, each Director understands their responsibility under the Companies Act to act in a way that would promote the long-term success of the Company for all its stakeholders. We recognise that to deliver our strategy in a sustainable way, we need to consider the commercial, social and environmental impacts of our business. During the year, we have monitored, assessed and challenged CCEP’s progress against our annual business plan and our sustainability targets. When taking decisions of strategic importance, we endeavour to balance the interests of all our stakeholders in ways that are compatible with CCEP’s long-term, sustainable growth. Throughout the year, CCEP has engaged with stakeholders across all areas of the business. The Board strives to gain stakeholder perspectives to inform its decision making through direct engagement, where feasible, as well as through regular communication with senior management. We identify our key stakeholder groups as those with significant	interactions	with	our	business	model	and	 that we impact in the course of our business operations. We detail about how our business interacts with our stakeholders, and the impacts of these interactions, throughout this Integrated Report. Ensuring our business operates responsibly is fundamental to ensuring our long-term success. The Board oversees a corporate governance framework that enables the right people to take the right decisions at the right time. This includes our CoC and system of delegated authorities. Section 172(1) statement from the Directors 15 Governance and Directors’ Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FStrategic Report

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Supported byWe’re a leader in a soft drinks category that is worth nearly €125 billion across our markets, with brands that are so popular and so widely consumed that we serve millions of people, businesses and communities in our markets every day. Our category is robust, resilient and set to keep growing in the long term. Our goal is to outperform the market – growing faster and building share. Our strategy Key highlight Ultimately driving sustainable returns for all stakeholders. Accelerate competitiveness – Manage our cash – Targeted approach to investment – Competitive cost base – Reduce complexity Future ready culture – Challenge status quo – Inclusion, diversity and equity – Enhanced wellbeing – Agility and performance mindset Digital future – Advance digital and online revenue – Empower sales force – Leverage analytics and artificial	intelligence – Enable future workplace Green future – Accelerate This is Forward – Science based and measurable carbon reduction targets Growth platform We have a track record of creating value for our customers, helping them become more profitable businesses with world class execution. This strong platform for growth needs to be supported by the right choices and a clear focus on priorities to enable us to win. 01 07 04 02 05 03 Grow the sparkling category and our share where we lead (e.g. Coca-Cola® and Fanta) Build share where we don’t lead (e.g. Sprite, Fuze Tea and Tropico) Double our energy business through our Monster portfolio Build a platform for growth in coffee (Costa and Grinders) Smart revenue growth management (RGM) to	drive	mix	and	profit Utilise digital, data and analytics as a competitive differentiator Winning channel strategy and outlet coverage to drive unrivalled execution 06 NARTD value share +40bps 16 Governance and Directors’ Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FStrategic Report

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Succeeding in a changing landscape Macro trend – It’s becoming increasingly important to modernise the way that people connect and communicate with each other in a more digital workplace. – Advances in technology mean that we have a greater capacity to access and analyse data. Our response and some examples – We continue to invest in technology to enhance our employee experience, drive	efficiencies	and	become	more	 digitally enabled. – We aim to develop richer insights by managing data that is valuable as an asset, to lay the foundations for insightful analytics. – In 2021 we launched Compass, a portal which brings all of our digital workplace services together, making it	easier	for	our	colleagues	to	find	the	 tools they need. – We created a new partnership with SAP Ariba, a market leading provider of source to pay solutions, and expect to save more than 100,000 hours from implementing this solution. Macro trend – Changes to routines and behaviours have accelerated the digital evolution and adoption of new digital channels. – More consumers are choosing to buy groceries or order a takeaway online. – Our customers and suppliers are also moving more towards digital platforms and other technologies. Our response and some examples – We’ve continued to invest in our Business to Business (B2B) platform (My.CCEP.com) and in 2021 online ordering grew to over €1bn. – e-grocery optimisation resulted in value share gains of +120bps. – We continue to develop our direct to consumer (D2C) platform, yourcoca-cola.co.uk. – Through CCEP Ventures we’ve formed new collaborations and developed existing partnerships, launching eB2B platforms e.g. Wabi (PT), StarStock (GB) and Foodl (NL).  Findoutmoreonwww.cocacolaep.com/ ventures/ Macro trend – Consumers, customers and multiple stakeholders expect more from manufacturers and governments to help reduce the impact that their decisions and behaviours have on the environment. – Investors are increasingly using environmental, social and governance (ESG) criteria as a lens to inform their investment and portfolio decisions. – Regulatory changes and governmental commitments continue to develop and COP26 underlined the urgent need to increase the pace of implementing the Paris Climate Agreement. Our response and some examples – A green future is at the heart of our vision for the business, as demonstrated by our This is Forward sustainability action plan and the passion shown by our great people. – In 2021 we accelerated our use of rPET so that 53% of material used for our bottles was rPET and announced the	first	three	carbon	neutral	 production facilities. – Through CCEP Ventures we seek out new technologies and solutions.  ReadmoreaboutourGHGemissions targetsonpages 23–26 Macro trend – Consumers want different drinks to suit a range of moments, occasions and broad need states. – Some consumer occasions are shifting towards at home consumption, including socialising, working or exercising. – Many consumers are willing to spend more to replicate Away From Home (AFH) moments at home, requiring brands to offer premium products. – Economic disruption and an inflationary	environment	is	impacting	 consumer sentiment, meaning affordability is increasingly important for some consumers. Our response and some examples – We have a great portfolio of the world’s best brands and continue to diversify our drinks portfolio and packaging to suit the changing needs of our consumers. – We’re expanding our presence in exciting new areas such as hard seltzers, through the Topo Chico brand. – We’re accelerating our coffee ambition by readily expanding the Costa Coffee brand across our markets in Europe with different coffee solutions in multiple channels.  Readmoreaboutportfolioofbrandson page 8 Macro trend – Consumer interest in health and wellness is increasing, with people looking not only for organic offerings, but also those with less sugar and for functional products. – Governments and regulators are demanding increasing transparency from companies, both through packaging labelling and reporting. Our response and some examples – We publish information about CCEP and our performance through regular disclosures, including this report. – We’re committed to providing transparent product information on our packaging and on our website. From rapid acceleration towards digital platforms to macroeconomic impacts, our business is affected by a range of market trends. We have a business model and culture that enable us to adapt and thrive in this changing environment. Technology and data Sustainability Evolving consumer trends TransparencyDigital commerce 17 Governance and Directors’ Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FStrategic Report

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Sustainability We are taking action on sustainability by using our business and brands to build a better future. For people. For the planet. We are growing our business and brands as a force for good, managing our social and environmental impact and aiming to make our people and our stakeholders proud of our actions. Our focus on long-term value creation and innovation positions sustainability at the heart of everything we do. We	are	proud	pioneers;	we	were	one	of	the	first	companies	 to set a science based emissions reduction target before COP21 in 2015 and we actively participated in discussions during COP26 in Glasgow in 2021. We continue to set ambitious sustainability targets. We are doing this through our sustainability action plan – This is Forward – created with TCCC, and developed through continuous consultation with our stakeholders in Europe. Through This is Forward, we are taking action on six key social and environmental areas where we know we can have	a	significant	impact,	and	which	our	stakeholders	 want us to prioritise: climate action, consumer health and wellbeing, sustainable packaging, water stewardship, the wellbeing of our people and those across our value chain and our contribution to our local communities. We are making progress in these areas but we can’t stand still. We will continue to challenge ourselves, using our voice to drive action on sustainability and leading by example, to create a better, greener future. In May 2021, we acquired Coca-Cola Amatil and we are focused on extending our sustainability action plan, This is Forward, to include all of our territories in Europe and API. As the world adjusts to a new normal, living with COVID-19, we need to go further and act faster on tackling global climate-related challenges. A mindset based on sustainability is a strong basis. We believe partnerships and collaboration are vital to accelerate decarbonisation and build a sustainable tomorrow for our people, customers, communities and shareholders. Readmoreinourcorporategovernancereportpages 74–81  Findoutmoreatwww.cocacolaep.com/sustainability Climate We’ll aim to reach net zero by 2040 and reduce our emissions by 30% by 2030. Packaging We’ll collect all of our packaging so that none of it ends up as litter or in the oceans. Drinks We’ll be a total beverage company, offering consumers an even greater choice of drinks with reduced sugar. Society We’ll be a force for good by championing inclusion and economic development in society – with our employees and our communities. Water We’ll handle water with the care it deserves across our business and our value chain. Supply chain We’ll source our main ingredients and raw materials sustainably and responsibly. A LIST 2021 CLIMATE WATER * MSCI disclaimer: www.cocacolaep.com/sustainability/disclosures-and-recognition – see tab MSCI 18 Governance and Directors’ Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FStrategic Report

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Sustainability CONTINUED Our commitments Climate Pages 23–26 Packaging Pages 27–28 Society Pages 29–30 Drinks Pages 31–32 Water Pages 33–34 Supply Chain Pages 35–36 SDG commitments SDG commitments SDG commitments SDG commitments SDG commitments SDG commitments – We’ll aim to reach net zero GHG emissions across our entire value chain(A) by 2040. – We’ll cut GHG emissions by 30% across our entire value chain by 2030 versus 2019.(B) – We’ll aim for 100% of our strategic suppliers to set their own science based targets and transition to 100% renewable electricity by 2023. – We’ll continue to purchase 100% renewable electricity. – We’ll make sure that 100% of our primary packaging is recyclable or reusable. – We’ll work with local and national partners to collect 100% of our packaging in Western Europe, including support for well designed deposit return schemes where a proven alternative does not exist.(C) – We’ll remove all unnecessary or hard to recycle packaging from our portfolio.(C) – We’ll make sure that at least 50% of the material we use for our PET bottles comes from recycled plastic (rPET) by 2023 and we’ll aim to reach 100% recycled or renewable plastic by the end of the decade.(C) – We’ll use the reach of our brands to inspire everyone to recycle. – We’ll	innovate	in	refillable	and	 dispensed solutions and services as a key strategic route to eliminate packaging waste and reduce our carbon footprint. – We’ll foster a diverse and inclusive culture in our business and make sure that women hold at least 40% of our management positions. – We’ll expand the contribution we make to society by increasing our employee volunteering and supporting local community partnerships. – We’ll support initiatives which help young people gain the employability, skills	and	confidence	they	need	 to succeed. – We’ll reduce the sugar in our soft drinks by 10% between 2015 and 2020, and that’s in addition to the 5% reduction achieved in the previous	five	years.(D) – We’ll aim for 50% of our sales to come from low or no calorie drinks.(E) – We’ll continuously evolve our recipes and portfolio to offer a greater choice of drinks. – We’ll make it easier for consumers to cut down on sugar with straightforward product information and smaller pack sizes. – We’ll make sure we don’t advertise to children under 12 and that our sales and marketing practices evolve in line with external expectations. – We’ll protect the sustainability of the water sources we use for future generations. – We’ll reduce the water we use in manufacturing by 20% and address water impacts in our supply chain.(F) – We’ll replenish 100% of the water we use in areas of water stress. – We’ll make sure 100% of our main agricultural ingredients and raw materials come from sustainable sources. – We’ll continue to embed sustainability, ethics and human rights into our supply chain.(G) Baseline is 2010 and target date is 2025 unless otherwise stated (A) Value chain covers Scope 1, 2 and 3 emissions. (B) In addition to a 30.5% absolute reduction already achieved between 2010 and 2019. (C) 2019 enhanced Action on Packaging commitments. (D) Sparkling soft drinks and non-carbonated soft drinks only. Does not include water or juice. This commitment is for CCEP and TCCC Western European Business Unit. Baseline is 2010 and includes historical, consolidated data for Coca-Cola Enterprises, Coca-Cola Iberian Partners, S.A. and Coca-Cola Erfrischungsgetränke AG that was recalculated after the Merger. Target to be updated in 2022. (E)	Total	CCEP	sales.	Does	not	include	coffee,	alcohol,	beer	or	freestyle.	Low-calorie	beverages	≤	20kcal/100ml.	Zero	calorie	beverages	<4kcal/100ml.	 (F)	Water	use	ratio,	litres	of	water	per	litre	of	finished	product	produced.	 (G) We’ll do this through our global Supplier Guiding Principles and Human Rights Policies. This is Forward, our sustainability action plan, relates to our activities in Europe. In 2022 we will extend our commitments to include all of our territories in Europe and API. 19 Governance and Directors’ Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FStrategic Report

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Sustainability governance framework Corporate Social Responsibility (CSR) Committee Meeting frequency: At	least	five	times	per	year. Responsible for identifying, analysing, evaluating and monitoring the social, political, environmental, sustainability and public policy trends, issues and concerns which could affect our business or performance. Oversees Group performance against This is Forward strategy and goals, including reviewing climate-related risks, targets and actions as well as packaging, water and other environmental risks and opportunities. Nomination Committee Meeting frequency: At	least	five	times	per	year. Regularly reviews the structure, size, composition and skills of the Board to ensure it remains effective. Sustainability is listed as a key Board skill and the majority of the Directors have good or very good experience in this area. Expertise in this area will continue to be a consideration in succession planning and recruitment going forward. The Committee considers inclusion, diversity and equity across the broader workforce and assesses and monitors Group culture. Remuneration Committee Meeting frequency: At least six times per year. Aligns the Group’s remuneration policy to reinforce the achievement of our sustainability aims. To note, CCEP operates a Long-Term Incentive Plan (LTIP) for our most senior leaders which includes a performance measure focused on the reduction of GHG emissions across our entire value chain, which has a 15% weighting. In addition, part of every senior leader’s Individual Performance Objectives continues to be based on leading the development of our “Future ready	culture”	(e.g.	talent,	inclusion,	diversity,	equity	and	specific	“Green	Future”	objectives). Audit Committee Meeting frequency: At least six times per year. Ensures that risk is effectively managed across the Group, including climate-related risks and	opportunities.	The	Committee	is	responsible	for	overseeing	the	Group’s	financial	and	 non-financial	reporting	obligations	including	ESG-related	reporting.	It	also	gives	consideration	 to climate-related risks as part of the overall Enterprise Risk Management Framework.  ReadmoreinourGovernanceandDirectors’Report pages 64–111 At CCEP our aim is to ensure we have strong governance over sustainability issues, including climate-related risks. The Board, each of its key Committees and management has a role to play as outlined below. The roles and responsibilities of each will continue to remain under review during 2022 to ensure that all relevant matters continue to be addressed in line with changing stakeholder requirements. The Board The Board’s role is to ensure the long-term sustainable success of CCEP by setting our strategy through which we can deliver sustainable growth, create value for all our stakeholders and build a better future for our business, our communities and the planet. The Board, led by our Chairman Sol Daurella, has ultimate responsibility for our sustainability action plan This is Forward. Each of the Board Committees plays a role in supporting the Group's sustainability strategy including the Corporate Social Responsibility (CSR) Committee which has been delegated responsibility by the Board for oversight of This is Forward. Sustainability is a key topic of discussion at Board meetings and the Chairman of the CSR Committee provides the Board with a detailed update at every Board meeting. The Board also receives out of cycle communications and Directors attend training sessions on sustainability-related matters including climate, packaging and water. The CCEP leadership team delegates certain climate-related risk and opportunity oversight matters to its management committees. In 2022 a new Sustainability SteerCo has been set up with members of the Executive Leadership Team to discuss a range of issues and will aim to form part of the reporting to the CCEP Board. Sustainable Packaging Office Our	Sustainable	Packaging	Office	(SPO)	streamlines	all	the	technical	and	exploratory	 sustainable packaging work across our geographies, accelerates our innovation and supports progress towards our enhanced packaging targets in order to reduce the carbon impact of our packaging. This work is undertaken in partnership with TCCC. Strategic Risk There are a number of groups and forums led by the risk function that play different roles in considering sustainability-related risks, including climate, packaging and water, related to CCEP. There is an annual top down Enterprise Risk Assessment which encompasses the	reassessment	of	the	current	risks	but	also	the	identification	of	emerging	risks	and	 opportunities. This is done with input from the Board and our Top 150 Executives. In addition there	are	regular	(approximately	eight	times	per	year)	One	Risk	Office	meetings	where	all	 the	risk	function	teams	(13	teams	across	five	departments)	meet	and	discuss	risks,	including	 emerging risks and ESG topics. The Enterprise Risk Management Team is partnering on several ESG topics with key internal stakeholders to mature our risk sensing and scenario planning capabilities. Read more on pages 42–47 Informing Reporting Informing Reporting The Chief Executive and the CCEP leadership team Ownership and governance for sustainability-related risk and sustainability strategy and commitments are embedded within our business. Responsibility for climate-related issues sits with our CEO, our Chief Customer Service and Supply Chain (CCSSC) Officer	and	our	Chief	PACS	Officer.	 20 Governance and Directors’ Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FStrategic Report

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In 2019, together with TCCC, we completed a climate-related risk assessment, in line with guidance from the	TCFD.	The	assessment	identified	 the physical and transition risks we could face as a result of climate change. CCEP is committed to implementing the recommendations of the TCFD and, through the Group’s Enterprise Risk Management (ERM) programme, takes a risk based approach in responding to the physical and transitional risks and opportunities that are associated with climate change. The assessment and mitigation of climate-related risks is an integral part of our annual Enterprise Risk Assessment process. The following table provides a summary of the key elements grouped into the four themes (strategy, governance, risk management, metrics and targets) along with	a	redirect	to	specific	sections	in	this	Integrated	Report	 and our 2021 CDP submission for further information. In 2020,	we	voluntarily	published	our	first	 disclosure against the recommendations of TCFD on our corporate website in order to report transparently on climate-related risks and opportunities. We will continue to do this on an annual basis. In 2021, we began work to assess how our business may be impacted in the long term from climate-related risks, with a particular focus on production facilities and the availability of key ingredients in our value chain. This work was planned for 2020 but the timetable was delayed due to COVID-19. 2022	is	the	first	year	where	we	 disclose our alignment to the TCFD recommendations in our Integrated Report. 2019 2020 2021 2022 TCFD Key elements Key elements of summarised disclosures / Key messages Reference to chapters in our 2021 Integrated Report and our 2021 CDP disclosure(A) STRATEGY Disclose the actual and potential impacts of climate-related risks and opportunities on the organisation’s businesses, strategy and	financial	planning,	 where such information is material 1 Describe the climate-related risks and opportunities the organisation has identified over the short, medium and long term Significant risks – Increased	severity	and	frequency	of	extreme	weather	events	such	as	cyclones	and	floods	may	disrupt	or	limit	our	ability	to	produce	or	distribute	our	products. – Water stress or water scarcity may cause disruption to our production or lead to us being unable to produce our products. – Changing weather and precipitation patterns may impact the cost and/or availability of ingredients we use in our beverages. – Regulation related to GHG emissions may increase costs across our value chain, including increased costs related to the packaging we use, our manufacturing and distribution of our CDE. – Regulation related to water stress or water scarcity may disrupt or restrict our production capability. Significant opportunities – The	adoption	of	energy	and	water	efficiency	measures	across	CCEP’s	core	business	operations	provides	a	significant	opportunity	for	our	business	to	reduce	emissions	and	build	long-term	resilience. – The	use	of	renewable	electricity	provides	a	significant	opportunity	for	our	business	to	significantly	reduce	both	our	Scope	2	emissions,	and	our	value	chain	carbon	footprint. 2 Describe the impact of climate-related risks and opportunities on the organisation’s businesses, strategy and financial planning Whilst	it	is	difficult	to	accurately	estimate	the	financial	impact	of	any	climate-related	disruption	to	our	manufacturing	and	distribution	operations,	even	a	small	percentage	decline	in	our	manufacturing	 and/or	distribution	capabilities	due	to	extreme	weather	events,	could	have	a	significant	impact	on	our	business	in	the	future.	Changes	in	precipitation	patterns	exacerbated	by	climate	change	could	limit	 the availability and therefore increase the cost of key ingredients, like sugar beet. In the future, this could result in supply restrictions and/or increased costs for our business. Increased water scarcity, water shortages or restrictions on water consumption, particularly in water stressed areas could increase the cost of water or impact our ability to produce. 3 Describe the resilience of the organisation’s strategy, taking into consideration different climate-related scenarios including a 2°C or lower scenario CCEP uses both qualitative and quantitative scenario analysis to inform our strategy. In 2019, as part of work to identify climate-related risks to our business, we undertook some high level scenario analysis to help us consider and predict what the world might look like in the future and to help us assess future impacts to our business. This included both a “business as usual” scenario, where global temperatures continue to increase and a “2°C” scenario where the world does not exceed 2°C warming. In 2022 we will build on this work by completing a detailed assessment of the physical risks we could face across our operations and owned assets as a result of climate change. This work will consider two climate scenarios: RCP 2.6 (where global temperature increase will be limited to between 1.5°C–2°C by 2100); and RCP 8.5 (where global temperatures will increase by up to 5°C by 2100). In addition, we will use a wider range of climate scenarios to explore further the physical and transition risks that we may face across our entire value chain. 2021 Integrated Report Read about our Principal risks on pages 42–47 and our Risk factors on pages 195–202 CDP questionnaire 2021 1 C2.3a, C2.4a 2 C2.3a, C2.4a 3 C3.2a Task Force on Climate-related Financial Disclosures (TCFD) (A)	Our	disclosures	are	set	out	in	greater	detail	in	a	separate	CDP	questionnaire	to	make	it	easier	for	readers	to	find	the	relevant	information.  Seewww.cocacolaep.com/assets/sustainability/documents/b2610a8278/CDP-climate-response-2021.pdf 21 Governance and Directors’ Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FStrategic Report

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Task Force on Climate-related Financial Disclosures (TCFD) CONTINUED TCFD Key elements Key elements of summarised disclosures / Key messages Reference to chapters in our 2021 Integrated Report and our 2021 CDP disclosure(A) GOVERNANCE Disclose the organisation’s governance around climate-related risks and opportunities 1 Describe the Board’s oversight of climate-related risks and opportunities CCEP has a strong governance framework with a Board of Directors overseeing the interests of all stakeholders. The Board is primarily responsible for CCEP’s strategic plan, risk appetite, systems of internal control and corporate governance policies, to ensure the long-term success of CCEP, underpinned by sustainability. It retains control of key decisions and ensures there is a clear division of responsibilities. The Board also has responsibility	for	CCEP’s	sustainability	action	plan	This	is	Forward,	which	includes	forward-looking,	science	based	carbon	reduction	targets.	To	demonstrate	our	commitment	to	sustainability,	one	of	the	five	committees	 that supports the Board is the CSR Committee. The Board has delegated responsibility for oversight of This is Forward to the CSR Committee. 2 Describe management’s role in assessing and managing climate-related risks and opportunities Ownership and governance for sustainability-related risks and sustainability commitments are embedded within our business. At management level, responsibility for climate-related issues sits with our CEO, our CCSSC Officer	and	our	PACS	Officer. 2021 Integrated Report Find out more in our Corporate governance report pages 74–81 CDP questionnaire 2021 1 C1.1b 2 C1.2, C1.2a RISK MANAGEMENT Disclose how the organisation	identifies,	 assesses and manages climate-related risks 1 Describe the organisation’s processes for identifying and assessing climate-related risks The process for identifying, assessing and responding to climate-related risks – including those to our direct operations, as well as upstream and downstream risks – is integrated into CCEP’s ERM processes and our overarching governance processes. Through our ERM we identify, measure and manage risk, and embed a strong risk culture across our business. CCEP’s risk management framework looks at both risks and opportunities. As well as supporting the management of risks, it also guides how we can capitalise on opportunities. 2 Describe the organisation’s processes for managing climate-related risks The	responsibility	for	identifying	and	assessing	individual	risks,	including	climate-related	risks,	resides	with	the	five	Committees	of	CCEP’s	Board.	The	Audit	Committee	has	overall	responsibility	for	risk	management	 at	CCEP.	Our	ERM	processes	are	overseen	by	our	Chief	Compliance	Officer	(CCO)	who	leads	CCEP’s	Compliance	and	Risk	Department.	The	CCO	chairs	CCEP’s	Compliance	and	Risk	Committee,	which	is	comprised	 of a cross functional group of leaders and risk management experts. The Compliance and Risk Committee has overall responsibility for making decisions related to certain risk management activities, including the review and approval of our risk management strategy, policies and frameworks. The Compliance and Risk Committee is responsible for overseeing and approving company wide enterprise risk practices, and ensuring that management	has	identified	and	assessed	all	material	risks	faced	by	the	organisation,	and	has	established	an	infrastructure	capable	of	addressing	those	risks. 3 Describe how processes for identifying, assessing, and managing climate-related risks are integrated into the organisation’s overall risk management The CCO presents at meetings of the Audit Committee, Compliance and Risk Committee and leadership team meetings on risk management and shares the results of the top down annual ERA and other bottom up risk assessments.	Our	PACS	Officer	is	the	ELT	member	with	overall	management	responsibility	for	CCEP’s	CSR	Committee.	They	have	primary	ownership	of	sustainability	issues	–	including	climate-related	risks,	GHG	 emissions	reporting,	public	disclosure	of	climate-related	risks	and	other	policy	and	sustainability-related	topics.	Our	CEO,	CCSSC	Officer	and	PACS	Officer	are	responsible	for	providing	management	updates	on	topics	 related to climate change (including packaging and GHG emissions) and water stewardship to CCEP’s Board of Directors, and its CSR Committee. This includes sustainability-related issues of importance to our stakeholders, legislative and regulatory issues affecting CCEP, and updates on progress and performance against CCEP’s publicly stated sustainability goals. 2021 Integrated Report Read about our Principal risks on pages 42–47 CDP questionnaire 2021: 1 C2.2 2 C2.2 3 C2.2 METRICS AND TARGETS Disclose the metrics and targets used to assess and manage relevant climate-related risks and opportunities, where such information is material 1 Disclose the metrics used by the organisation to assess climate-related risks and opportunities in line with its strategy and risk management process We use a variety of metrics to track our progress on climate action. Our comprehensive disclosure includes transparency on Scope 1, 2 and 3 emissions across all of our markets, including a breakdown of greenhouse gases and CO2e by emissions source. We report Scope 2 emissions on a market and location based approach. In addition, we also report absolute and normalised emissions data. 2 Disclose Scope 1, Scope 2 and, if appropriate, Scope 3 GHG emissions and the related risks We disclose our Scope 1, 2 and 3 emissions within the framework of our annual carbon footprint reporting process. 3 Describe the targets used by the organisation to manage climate-related risks and opportunities and performance against targets Through our This is Forward sustainability strategy we measure, monitor and manage our sustainability targets. We launched a new climate strategy in December 2020, including an ambition to reach net zero emissions by	2040	and	to	reduce	our	absolute	GHG	emissions	across	our	value	chain	by	30%	by	2030	(versus	2019).	Our	2030	GHG	reduction	target	has	been	approved	by	the	SBTi	as	being	in	line	with	a	1.5˚C	reduction	pathway,	 as recommended by the Intergovernmental Panel on Climate Change. Our targets were set for our business in Europe, and in 2022 we will set a new science based emissions reduction target, including our API territories. 2021 Integrated Report Read more in the Action on climate section on pages 23–26 CDP questionnaire 2021 1 C4.2, C9.1 2 C6.1, C6.3, C6.5 3 C4.1, C4.1a, C4.2 (A)	Our	disclosures	are	set	out	in	greater	detail	in	a	separate	CDP	questionnaire	to	make	it	easier	for	readers	to	find	the	relevant	information.  Seewww.cocacolaep.com/assets/sustainability/documents/b2610a8278/CDP-climate-response-2021.pdf 22 Governance and Directors’ Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FStrategic Report

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COP26 has underlined that urgent climate action is needed if we are to limit global temperature increase to 1.5°C. We’re committed to decarbonising our business, aiming to reach net zero emissions by 2040 – 10 years ahead of the Paris Climate agreement. The world is at a critical point. The Intergovernmental Panel on Climate Change (IPCC) has outlined the urgency of reaching net zero emissions by 2050 at the latest. Governments and businesses around the world must take urgent action now. That is why we launched a new climate strategy in December 2020, including an ambition to reach net zero emissions by 2040 and to reduce our absolute GHG emissions across our value chain by 30% by 2030 (versus 2019). Our 2030 GHG reduction target has been	approved	by	the	SBTi	as	being	in	line	with	a	1.5˚C	 reduction pathway, as recommended by the IPCC. Our targets were set for our business in Europe, and in 2022 we will set a new science based emissions reduction target, including our API territories. Over 90% of our value chain GHG emissions come from our supply chain. So we have committed to supporting our strategic suppliers to set their own science based carbon reduction targets and to shift to 100% renewable electricity by 2023. To support our climate strategy and drive reductions in GHG emissions across our business, we have included a GHG emissions reduction target in our LTIP for senior management. This metric has a 15% weighting and is included	alongside	traditional	financial	metrics,	including	 EPS and ROIC. Carbon reduction roadmaps When we launched our net zero 2040 ambition, we identified	a	series	of	initiatives	to	reduce	our	GHG	 emissions over three years supported by a €250 million investment. In 2021, we began to develop carbon reduction roadmaps for each of our European markets. These roadmaps will help to prioritise initiatives to reduce our GHG emissions, including programmes across our value chain in packaging, operations, transportation and CDE. We have also established an executive governance structure, supported by work streams across our business, to ensure that our climate strategy is embedded throughout CCEP and that we have a framework in place to evaluate our carbon reduction progress. Transitioning to a low-carbon future Using renewable electricity is a key element of our sustainability journey. In Europe we have purchased 100% renewable electricity since 2018; we’re targeting 100% renewable electricity in Australia and New Zealand by 2025 and in other API territories by 2030. We continue to invest in renewable and low-carbon energy projects at our production facilities, including direct solar, wind, combined heat and power and hydropower located at our own facilities. Solar energy is a key part of our renewable electricity strategy and eight production facilities across Belgium, France and GB now source electricity from on-site solar installations. In 2021, we also completed a three year solar panel project at our Cibitung production facility in Indonesia, the second largest rooftop solar project in South East Asia and the fourth largest in the world. We continue to invest in our production facilities to make them	energy	efficient	and	reduce	carbon	emissions.	 For	example,	our	carbon	neutral	certified	mineral	water	 production facility in Vilas de Turbón, Spain, has reduced Action on – Climate Carbon neutral production facilities As part of our net zero ambition, we are aiming for at least eight of our production facilities to be PAS2060	certified	as	carbon	neutral	by	the	end	 of 2023. In 2021, three of our production facilities, in Belgium,	Spain	and	Sweden,	were	certified	as	 carbon neutral. All three sites use 100% renewable electricity and have changed their production processes	to	significantly	reduce	their	carbon	 emissions. To offset remaining carbon emissions at the sites, we	have	purchased	Gold	Standard	certified	carbon	 credits from a project in Colombia which will support an area of savannah, that has been damaged by agricultural activity, through reforestation and the restoration of its ecosystem. Case study 23 Governance and Directors’ Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FStrategic Report

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its	total	emissions	over	the	past	five	years	by	36%	per	 litre	of	product	produced	by	installing	energy	efficient	 LED lighting across the site, and by the installation of a biomass boiler that uses sustainably sourced wood pellets	in	place	of	fossil	fuels.	In	the	next	five	years,	 we will be investing €13 million in switching from gas to battery powered fork lift trucks across our GB production facilities, which will reduce our GHG emissions by 1,500 tonnes CO2 emissions every year. We are working with our CDE suppliers to make our equipment	more	energy	efficient	across	our	territories,	 including	by	removing	older,	inefficient	models	from	the	 market	and	replacing	them	with	newer,	more	efficient	 equipment. This has enabled us to reduce the electricity our customers use by 9.9% versus 2020. Together with our customers, we are creating sustainable solutions, such as supporting the hospitality industry on its net zero journey. For example, our Net Zero Pubs, Bars and Restaurants Initiative in GB enables businesses to reduce carbon emissions across their value chain. Pubs, bars and restaurants that follow the net zero protocol	can	either	be	certified	as	net	zero	or	have	a	net	 zero target date endorsed. Action on – Climate CONTINUED CCEP committed to power its entire operations across API with 100% renewable electricity. Setting this target in this region sets a strong example for other companies to follow. Jon Dee, Australian Coordinator RE100 Our progress(A) ENERGY USE Energy use ratio (MJ/litre of product produced) Europe 0.3092020 0.3182021 API 0.532020 0.522021 RENEWABLE ELECTRICITY Electricity purchased from renewable sources Europe 100%2020 100%2021 API 8.6%2020 18.3%2021 (A) The acquisition of API completed on 10 May 2021. The API sustainability metrics are presented on a full year basis for 2021 and 2020 to allow for better period over period comparability.  Readmoreatwww.cocacolaep.com/sustainability/ this-is-forward/action-on-climate  Seeourwebsiteforourdisclosureagainstthe  recommendationsofTCFDwww.cocacolaep.com/ sustainability/download-centre Cutting carbon in transport We work hard to reduce the GHG emissions of our transportation and distribution networks. In 2021, we joined The Climate Group’s EV100 initiative, committing to accelerate our transition to electric vehicles by 2030 in Europe. To support this goal, in Germany we have a target to switch over 2,000 company cars in our sales fleet	to	electric	vehicles	by	2025.	 Our other carbon reduction initiatives include shifting the transportation of our products from road to rail freight. For example, at 13 of our production facilities in Germany we are working with freight provider, DB Cargo, to facilitate the long distance transportation of our products via rail. In 2022, in the Netherlands, all of our third party logistics providers will switch to using HVO100 (hydrotreated vegetable oil), a biofuel, to transport our drinks. As biofuel emits 90% less CO2 than fossil fuel, this change will reduce the impact of the 7.5 million kilometres that are driven annually transporting our products in the Netherlands.	We	are	the	first	soft	drinks	company	in	 the Netherlands to make this switch. Carbon offsetting We are taking a limited approach to the use of carbon offsetting, in line with SBTi net zero best practice guidance. We are focused on decarbonising our business in	line	with	a	1.5˚C	reduction	pathway,	and	when	we	 can no longer reduce our emissions, we will offset where necessary to help us reach net zero. In the short term, to offset the remaining emissions from some areas of our business – such as our carbon neutral sites – we will be using Gold Standard, or Verra/VCS certified	carbon	credits	from	existing	carbon	removal	 projects. Over the long term, we will look to work with partners to develop nature based solutions that can provide carbon removal, water replenishment and biodiversity	benefits. GHG emissions across our value chain in Europe 26% 43% 8%9% 14% Ingredients Packaging Operations and commercial sites Transport CDE Using our voice for change As	an	influential	global	business,	we	use	our	voice	to	 guide public policy and drive transition to a low-carbon future. In 2020, with the launch of our new climate ambition, we joined The Climate Pledge, which brings together international businesses committed to reaching net zero GHG emissions by 2040, 10 years ahead of the Paris Agreement deadline. In 2021, we joined over 700 of the world’s largest organisations in the We Mean Business Coalition to call for G20 nations to step up their climate ambitions and adopt stronger targets to mitigate the worst effects of climate change. We are a proud member of The Climate Group’s RE100 initiative across Europe and API, a group of organisations committed to 100% renewable electricity. We are also a member of the Corporate Leaders Group, supporting European Union (EU) policymakers in their work to increase the EU’s GHG emissions reduction targets for 2030, in line with the EU’s goal to become carbon neutral by 2050. Working with our suppliers Together with TCCC, we are working with our suppliers to reduce the carbon footprint of our ingredients and packaging, the largest contributors to the carbon footprint of our supply chain. See action on packaging pages 27–28 and action on supply chain pages 35–36 for more information about the progress we are making in helping our suppliers to reduce their emissions. 24 Governance and Directors’ Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FStrategic Report

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Action on – Climate CONTINUED company vehicles); use of sold products (including CO2 emissions released by consumers); end of life treatment of sold products; and downstream leased assets (including the electricity used by our hot and cold drink equipment at our customers’ premises). This accounts for over 90% of our Scope 3 emissions. Additional Scope 3 emissions, from capital goods, employee commuting and the use of sold products, are not included in our value	chain	figures	below,	and	we	will	report	on	these	 separately as part of our 2021 CDP response. All other Scope 3 categories are not currently applicable to CCEP. Emission factors used include industry and supplier data, Defra/BEIS 2021 and IEA 2019 emission factors. 0.13% of our value chain carbon footprint is based on estimated emissions	(e.g.	leased	offices	where	energy	invoices	or	 the square metre footage size of the site is not available). The	figures	for	2021	in	table	1,	along	with	selected	 information on our website, are subject to independent assurance by DNV GL in accordance with the ISAE 3000 standard. The full assurance statement with DNV GL’s scope of work, and basis of conclusion, will be published on our website in May 2022. API Over the course of 2021 and 2022, we are working to develop a full GHG emissions inventory for API markets, including Scope 1, 2 and 3 GHG emissions. For 2021 our reporting is limited to Scope 1 and 2 GHG emissions for our API markets. Our intention is to report Scope 1, 2 and 3 GHG emissions for API markets in future years. GHG emissions (Scope 1 and 2) Details of our Scope 1 and 2 GHG emissions in tonnes of CO2 equivalent (stated as CO2e) during 2021 are set out in table 2. Our Scope 1 and 2 emissions are independent of any GHG trades, and our Scope 2 emissions are reported using both a location based and a market based approach. Note on sources of data and calculation methodologies Under the WRI/WBCSD GHG Protocol, we measure our emissions in three scopes, except for CO2e emissions from biologically sequestered carbon, which we report separately outside these scopes. Our baseline year has been updated to 2019, following approval of our new science based GHG emissions reduction target at the end	of	2020.	Our	baseline	figures	for	2019	and	our	2020	 data have been restated to include new emission sources and more accurate data. Data is consolidated from a number of sources across our business and is analysed centrally. We use a variety of methodologies to gather our emissions data and measure each part of our carbon footprint, including packaging and ingredients, natural gas and purchased electricity, refrigerant gas losses, CO2 fugitive gas losses and transport fuel, water supply, wastewater and waste management and CDE. We use emission factors relevant to the source data including UK Department for Business, Environment and Industrial Strategy (BEIS) 2021 and International Energy Agency (IEA) 2019 emission factors. Scope	1	figures	include	direct	sources	of	emissions	such	 as the fuel we use for manufacturing and our own vehicles plus our fugitive emissions of CO2. Scope	2	figures	include	indirect	sources	from	the	 generation of electricity we use at our sites. We report against this on both a location based and a market based approach. Commitments and key performance indicators are tracked using the market based approach. Scope	3	figures	include	emissions	from	purchased	goods	 and	services	(specifically	the	packaging	we	put	on	the	 market and the ingredients we use in our products); fuel and energy-related activities not already included in Scope 1 and 2 (e.g. emissions from well-to-tank and transmission and distribution); upstream transportation and distribution; waste generated in operations; business travel (including employee business travel by rail and air); upstream leased assets (including the home charging of EUROPE GHG emissions (Scope 1, 2 and 3) Details of our Scope 1, 2 and 3 GHG emissions in tonnes of CO2 equivalent (stated as CO2e) during 2021 are set out in table 1. Our Scope 1 and 2 emissions are independent of any GHG trades, and our Scope 2 emissions are reported using both a location based and a market based approach. Details about our Scope 3 GHG emissions in our value chain (including emissions related to our ingredients, packaging, CDE and third party transportation), are also reported	in	the	table.	Additional	Scope	3	figures	will	be	 included in our 2021 CDP response. Our carbon footprint is calculated in accordance with the WRI/WBCSD GHG Protocol Corporate Standard, using an operational control approach to determine organisational boundaries. Our total Scope 1, 2 and 3 GHG emissions (full value chain) have reduced by 12.4% versus 2019 and by 38.9% versus 2010. Intensity ratios CCEP – Europe GHG emissions (Scope 1 and 2) per litre of product produced (market based Scope 2 approach): 17.17g CO2e/litre of product produced. GHG emissions (Scope 1 and 2) per euro of revenue (market based Scope 2 approach): 18.10g CO2e/euro of revenue. UK and UK offshore GHG emissions (Scope 1 and 2) per euro of revenue (market based Scope 2 approach): 14.35g CO2e/euro of revenue. Our scope of GHG reporting covers our bottling and production facilities for alcoholic and non-alcoholic beverages under our operational control, or where we have	significant	financial	control.	This	excludes	 warehouses, packaging production sites and corporate offices.	It	also	excludes	emissions	from	our	own	vehicles,	 or fugitive emissions of CO2. Intensity ratios CCEP – API We have not reported GHG intensity ratios for API, as the different scope of GHG emissions reporting compared to Europe would not allow a meaningful comparison. Note on sources of data and calculation methodologies Data is consolidated from a number of sources across our business and is analysed centrally. We use a variety of methodologies to gather our emissions data and measure each part of our operational carbon footprint, including natural gas and purchased electricity data. We use emission factors relevant to the source data including Australia National Greenhouse Accounts factors. Scope	1	figures	include	direct	sources	of	emissions	such	 as the fuel we use for manufacturing. Scope	2	figures	include	indirect	sources	from	the	 generation of electricity we use at our sites. We report against this on both a location based and a market based approach. For 2021, we have not reported Scope 3 for API markets. The	figures	for	2021	in	table	2,	along	with	selected	 information on our website, are subject to independent assurance by DNV GL in accordance with the ISAE 3000 standard. The full assurance statement with DNV GL’s scope of work, and basis of conclusion, will be published on our website in May 2022. 25 Governance and Directors’ Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FStrategic Report

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Action on – Climate CONTINUED Table 1 CCEP – EUROPE Table 2 CCEP – API(A) Tonnes of CO2e 2021 2020 2019 Baseline Tonnes of CO2e 2021 2020 Scope 1 Direct emissions (e.g. fuel used in manufacturing, own	vehicle	fleet,	as	well	as	process	and	fugitive	 emissions) 205,244 196,926 229,748 Scope 1 Direct emissions (e.g. fuel used in manufacturing, own vehicle fleet,	as	well	as	process	and	fugitive	emissions) 57,290 54,215 Scope 2 (market based approach) Indirect emissions (e.g. electricity) 4,396 4,768 6,006 Scope 2 (market based approach) Indirect emissions (e.g. electricity) 111,044 131,237 Scope 2 (location based approach) 123,838 143,888 170,112 Scope 2 (location based approach) 125,644 131,237 Scope 3 Third party emissions, including those related to our ingredients, packaging, CDE, third party transportation and distribution, waste in our operations and business travel 3,074,649 3,122,105 3,514,382 GHG emissions Scope 1, 2(A) and 3 (full value chain) 3,284,289 3,323,799 3,750,136 GHG emissions Scope 1, 2(B) 168,334 185,452 Energy use Energy use Direct energy consumption (Scope 1) (kWh) 747,192,658 703,792,425 Direct energy consumption (Scope 1) (kWh) 306,210,138 283,523,540 Direct energy consumption (Scope 2) (kWh) 590,521,094 576,193,660 Direct energy consumption (Scope 2) (kWh) 191,187,578 196,021,935 CCEP – UK and UK offshore Tonnes of CO2e 2021 2020 Scope 1 Direct emissions (e.g. fuel used in manufacturing, own	vehicle	fleet,	as	well	as	process	and	fugitive	 emissions) 37,494 35,152 Scope 2 (market based approach) Indirect emissions (e.g. electricity) 2 12 Scope 2 (location based approach) 16,728 16,906 GHG emissions Scope 1, 2(A) 37,496 35,164 Energy use Direct energy consumption (Scope 1) (kWh) 153,723,412 148,595,600 Direct energy consumption (Scope 2) (kWh) 85,389,551 78,464,328 (A) Market based approach only. (A) The acquisition of API completed on 10 May 2021. The API sustainability metrics are presented on a full year basis for 2021 and 2020 to allow for better period over period comparability. (B) Market based approach only. 26 Governance and Directors’ Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FStrategic Report

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Partnership to progress circularity in Indonesia Our Indonesian PET recycling plant is a joint venture with Dynapack Asia and construction commenced in 2021. The state of the art rPET facility, run by Amandina Bumi Nusantara, will enable us to create a closed loop plastic packaging supply chain by producing food grade PET pellets made from post-consumer plastic bottles collected locally. The recycling plant is on track to enable us to start using rPET in our 390ml carbonated soft drinks bottles in 2022 in Indonesia. We also established Mahija Parahita Nusantara, a	non-profit	foundation,	working	to	improve	the	 lives and welfare of 3,500 waste pickers working in the informal waste sector collecting high quality feedstock for the recycling plant in Indonesia. Case study We are taking action to reduce the impact of our packaging and delivery solutions. We are innovating to use less packaging and driving packaging circularity, with a focus on reducing our use of fossil-fuel based plastic. Packaging represents approximately 40% of our total value chain carbon footprint. We are taking action to drive down the footprint of our packaging as part of our path to zero: zero waste and net zero GHG emissions. We aim to achieve this through the key pillars of our packaging strategy: removing unnecessary packaging; innovating	in	refillable	and	dispensed	solutions;	achieving	 100% collection so that packaging can be recycled and reused; and increasing the recycled content of our packaging. Packaging collection is critical to achieving a circular economy for packaging. While we have made good progress in Europe, Australia and Indonesia, challenges remain in markets which do not have deposit return schemes (DRS) and in regions where formal waste collection systems are not well established such as Fiji, Papua New Guinea and Samoa. We are committed to partnering with governments, industry and civil society, and spearheading voluntary action, where needed, to drive the acceleration of well designed collection systems. This includes systems such as DRS (also known as container deposit schemes (CDS)) and directly funded models for packaging collection. Our SPO streamlines all the technical and exploratory sustainable packaging work across our geographies, accelerates our innovation and supports progress towards our goals. Reduce and remove We continue to innovate with our partners and suppliers to reduce and remove packaging. In 2021, we introduced a newly designed lighter weight neck on our PET bottles for carbonated soft drinks in Germany. Other European markets will convert to the new	neck	finish	in	2022.	This	move	will	save	15,000	 tonnes of CO2e and 9,100 tonnes of plastic a year by 2024. Implementation ran in parallel with the trial and roll out of our solution for tethered closures, required by 2024 as provision of the EU’s Single Use Plastic Directive. In 2021, we continued to shift our can portfolio from steel to aluminium in Europe. As aluminium is lighter than steel, this will contribute to a carbon footprint reduction of about 100,000 tonnes of CO2e by 2024. We also continue to replace hard to recycle shrink wrap with 100% sustainably sourced, recyclable cardboard for multi pack cans in Europe. This includes Keel Clip, an innovative, minimalist paperboard solution, introduced in France in 2021. This new type of secondary packaging not only replaces the plastic wrap but also minimises the amount of paper and card required. Action on – Packaging Through our PET recycling facility, Amandina, we can increase our use of recycled plastic in Indonesia, and reduce the negative impact of plastic waste on the environment. Emmeline Hambali, President Director at Amandina Bumi Nusantara In 2021, we began the trial and roll out of tethered closures, a provision of the EU’s Single Use Plastic Directive. 27 Governance and Directors’ Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FStrategic Report

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In 2021, together with TCCC, we initiated a cross system approach	to	drive	innovation	in	refillable	packaging	and	 dispensed delivery models, offering consumers new and convenient ways to enjoy our drinks, while eliminating packaging waste. As part of this, we extended trials of new dispensed equipment in Europe, offering smaller on the go and at work locations the opportunity to provide consumers with their favourite drinks on demand. This innovation can have a lower carbon footprint compared to bottles or cans and will help us to reduce GHG emissions in Europe by 30% by 2030. In 2021, we introduced soda syrups in Germany, a self-pour dispensed technology trial in Spain and a	dispensed	and	refillable	vessel	trial	in	Sweden. In France and GB, we work in partnership with Loop™, a ground-breaking zero waste shopping platform, which provides an alternative to single use packaging. In 2021, we extended an online trial into 10 stores with Tesco in GB,	using	refillable	packaging	that	customers	return	after	 use, resulting in less plastic waste. Driving circularity In Europe, we continue to advocate for a well designed DRS and have been instrumental in establishing Circularity Scotland, which will help develop and administer the DRS we expect to see established in 2023. We are also supporting the introduction of DRS legislation in England and Wales. In	Fiji,	we	operate	Mission	Pacific,	a	plastic	bottle	and	can	 recycling scheme, and we extended the scheme, in Samoa in 2021. We are also supporting the establishment of a container deposit scheme in New Zealand. In Australia and Indonesia we are increasing onshore recycling capacity by investing in joint venture PET recycling plants. In Australia, two new plants will build a combined annual capacity of 40,000 tonnes Action on – Packaging CONTINUED of rPET by 2025. In Indonesia, an initial 15,000 tonnes a year in 2022 is expected to rise to 25,000 tonnes per year by 2023, with plans to expand to 50,000 tonnes a year by 2024. In 2021, we accelerated our use of rPET in our PET bottles in both Europe and API, and announced further transitions to 100% rPET in Belgium, France and Germany. We moved to 100% rPET for single-serve bottles across GB, Australia and New Zealand and completed our transition to 100% rPET bottles in the Netherlands. We continue to use the power of our brands to encourage recycling via on pack messages for Coca-Cola in Australia and New Zealand. In Australia our popular integrated marketing campaigns for Mount Franklin continued in 2021. Our progress(A) PACKAGING RECYCLABILITY Primary packaging that is recyclable or reusable(B) Europe 98.0%2020 98.3%2021 RECYCLED PLASTIC Percentage of PET used that is rPET Europe 41.3%2020 52.9%2021 API Australia 58.2%2020 59.8%2021 New Zealand 39.2%2020 42.3%2021 (A) The acquisition of API completed on 10 May 2021. The API sustainability metrics are presented on a full year basis for 2021 and 2020 to allow for better period over period comparability. (B) Data only available for Europe.  Readmoreatwww.cocacolaep.com/sustainability/ this-is-forward/action-on-packaging +50,000 tonnes more rPET produced in Indonesia a year by 2024 +40,000 tonnes more rPET produced in Austraila a year by 2025 28 Governance and Directors’ Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FStrategic Report

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Action on – Society We are closely connected to our local communities, acting as a force for good and making a difference by supporting young people, promoting inclusion and diversity and protecting the environment. Many	of	our	local	communities	face	significant	 challenges, from high levels of youth unemployment to social exclusion. We are committed to supporting grassroots community partnerships, investing in initiatives that equip young people from disadvantaged backgrounds with the skills, confidence	and	employability	to	succeed	in	life.	We	also	 invest in projects that protect the environment and promote inclusion and diversity. Our volunteering policy enables our people to support community activities from litter clean up campaigns to charity fundraising events and skills based volunteering. We measure the social impact of our investments and contribution to local communities through the Business for Societal Impact Framework. Community investment Our community partnerships cover wide-ranging issues including youth development, diversity and inclusion and disaster resilience. We support our partners by providing financial	investment,	employee	volunteering	and	product	 donations. Youth development Across our territories we have many community partnerships which support young people. In 2021, some of our activities were impacted by COVID-19 but we remain committed to our partnerships. This includes our work with FIER.E.S in France, an initiative that helps to build	self-confidence	and	provides	a	pathway	to	 employment for young people. In Germany, we support the German Foundation of Integration with Geh Deinen Weg, a two year mentoring programme helping young people with an immigrant background to integrate into German	society	and	find	opportunities.	In	New	Zealand,	 we partner with Youthline, an organisation that supports young people who are struggling (with their mental health or other issues), as well as those who want to learn, grow and give back to their community. Thanks to Projekt: LokalLiebe’s donation, we were able to help people in need and provide clothing, sleeping	bags	and	mats,	fleece	 blankets, tents, food, drinks, masks and hygiene items. Petra Höh, Chairwoman Care 4 Cologne e.V. Protecting our environment We are committed to protecting our environment and support environmental programmes through investment and volunteering. These include our community based water replenishment partnerships in Belgium, France, GB, Portugal and Spain, and our land-based and marine litter clean up programmes across our territories. Social inclusion From our refugees and newcomers programmes in Belgium and the Netherlands, to supporting local foodbanks and food distribution charities across Europe and API, we help local communities and vulnerable groups. With TCCC, we support Special Olympics, the world’s largest sports organisation for people with intellectual disabilities in Belgium, France, GB, Germany and the Netherlands. In Spain, supported by our Chairman, Sol Daurella, who acted as guest speaker at the	event,	we	organised	the	fifth	edition	of	GIRA	Mujeres,	 a training programme for women who want to develop a business idea through entrepreneurship. Disaster response and resilience In	2021,	in	Fiji	and	Indonesia,	we	assisted	first	responders	 in times of environmental disaster and social upheaval by donating bottled drinks for communities. In Germany, many people and our production facility in Bad Neuenahr, were	impacted	by	severe	floods	in	July	2021.	Together	 with TCCC we donated €400,000 to the Red Cross to support disaster relief in the affected regions, and distributed drinks to people in need. Chaudfontaine for Chaudfontaine In	July	2021,	floods	in	the	Walloon	region	of	 Belgium caused enormous damage. Many homes, schools and roads were destroyed by the inexorable force of the water and our production facility in Chaudfontaine was severely impacted. Together with TCCC and The Coca-Cola Foundation we donated €1 million to support the local community. This included a €250,000 donation (via The Coca-Cola Foundation) to the Belgian	Red	Cross	to	provide	hot	meals	to	flood	 victims. Together with TCCC we ran an on pack marketing campaign via our Chaudfontaine brand which included a €750,000 donation to help rebuild two schools in the local area. In addition, more than 300 of our employees in Belgium volunteered their time to help the Chaudfontaine community response to the disaster. Case study +58,000 people supported in 2021 through our community programmes in Europe 29 Governance and Directors’ Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FStrategic Report

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Action on – Society CONTINUED Partnerships with our customers In 2021, we worked with customers in remote indigenous communities in Australia to establish recycling programmes. In France, we partnered with social entrepreneurship NGO Groupe SOS to support 1,000 cafés, an initiative for rural communities to meet. In Germany, we continued our Projekt: LokalLiebe to enable participating local restaurants and bars to support charities and community groups. Through the initiative we donated two cents for every reusable glass bottle of ViO, Apollinaris and Honest brands sold. In 2021, over €53,000 was donated to 60 charitable projects nominated by participating outlets. Support for local communities Our “Support my Cause” initiative enables our people to nominate grassroots charitable and community causes for CCEP to support. In 2021, we donated €220,000 to 44 local charities and community groups across our European markets. In addition, we donated over €520,000 to support 158 grassroots charitable and community partnerships	located	close	to	our	sites	and	offices.	In	API,	 we run many similar initiatives including our Employee Connected Grants programme in Australia, which is a partnership with the Coca-Cola Australia Foundation. Volunteering in the community We encourage our people to participate in volunteering activities connected to our sustainability commitments, such as litter clean up campaigns and charity fundraising events. Our employees in Europe can spend up to two paid working days each year volunteering for a charity or cause of their choice. While we currently operate different regional policies related to employee volunteering, we will align our approach in 2022. We develop volunteering programmes in collaboration with community investment partnerships and in 2021, our people took part in several volunteering activities across our territories. In GB, employees volunteered in the Treasure Your River campaign and we have active partnerships with Keep Britain Tidy, Keep Scotland Beautiful, Keep Wales Tidy and Rivers Trust; Mares Circulares in Portugal and Spain; River clean up and Dokano in Belgium; and Nature Protection Trinkwasserwald in Germany. In Indonesia, we support the Bali Beach Clean Up programme and Coca-Cola Forests, a tree planting and environmental education programme. In	Fiji,	we	operate	Mission	Pacific,	for	the	collection	and	 recycling of our packaging, and support the Mamanuca Environment Society. In Spain, during the 2021 Christmas season, over 150 volunteers worked alongside local NGOs, foodbanks and charities to distribute 16,000 meals to vulnerable people. As part of this initiative we donated over €278,000 to local charities.  Readmoreatwww.cocacolaep.com/sustainability/ this-is-forward/action-on-society-our-community TOTAL COMMUNITY CONTRIBUTION(A) €10.92 million Europe €9.16 million 70% 16% 7% 7% API €1.76 million 68% 18% 1% 13% Total cash Total in kind Total volunteer time Total management costs (cash and time) (A) The acquisition of API completed on 10 May 2021. The API sustainability metrics are presented on a full year basis for 2021 and 2020 to allow for better period over period comparability.  Readaboutoursupportforourpeopleinourpeoplesection on pages 37–39 and www.cocacolaep.com/sustainability/ this-is-forward/action-on-society-our-people 17,102 hours volunteered by our employees in Europe to support local community projects in 2021 30 Governance and Directors’ Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FStrategic Report

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From one iconic drink we’ve evolved into a total beverage company, offering consumers a greater choice of drinks, with and without sugar. We support the current recommendation by several leading health authorities, including the World Health Organisation, that people should limit their intake of added sugar to no more than 10% of their total calorie consumption. Working with TCCC and other franchisors, we are evolving our portfolio across all our territories, introducing new low and no calorie options, reformulating our recipes and promoting our low and no calorie drinks to consumers. We also offer drinks produced with organic, Fairtrade and	Rainforest	certified	ingredients	in	our	portfolio	–	 never compromising on taste. Our focus is on empowering consumers to make more informed choices by providing transparent product information, offering smaller pack sizes and championing responsible marketing. In addition, we are working to deliver the highest product quality and safety to our consumers by incorporating The Coca-Cola Operating Requirements (KORE), which define	operational	controls	and	prioritise	sustainable	 sourcing of our ingredients. Great taste, less sugar Working with TCCC and other franchisors, in Europe we have already made great progress in reducing the amount of sugar used in our soft drinks by 17.9% between 2015 and 2021; representing a reduction of 22.2% since 2010, equivalent to 232k tonnes of sugar removed. We are a long standing member of the Union of European Soft Drinks Associations (UNESDA) which represents Europe’s soft drinks industry and we support its industry led pledge to reduce average added sugars in soft drinks by another 10% by 2025 versus 2019 across Europe. In 2021, we introduced new low and no calorie drinks, including Monster Ultra Fiesta in France and GB, Chaudfontaine Bio in Belgium and Fuze Tea Peach Elderflower	in	Germany,	Norway	and	Sweden. In Australia, Indonesia and New Zealand, we have clear sugar reduction targets across our drinks portfolio. In Australia we are committed to reducing average sugar per 100ml by 20% by 2025 (versus 2015). In Indonesia we are committed to reducing average sugar per 100ml by 35% by 2025 (versus 2015); and by 20% by 2025 (versus 2015) in New Zealand. In 2021, we introduced new reduced sugar drinks including Fanta Raspberry in Fiji and Schweppes Ginger Ale and Tonic Water in Indonesia. In Europe, we are aiming for 50% of our sales to come from low or no calorie drinks by 2025 and we actively influence	people	to	reduce	their	daily	sugar	intake	by	 raising awareness of our low-calorie drinks through our point of sales communications. In API, we continue to implement our wellbeing initiatives by introducing and promoting low and no sugar drinks. This includes our promotion of Coca-Cola No Sugar in remote Indigenous communities in Australia in respectful collaboration with our retail partners and their communities. Since 2015, this work has delivered a 26.1% decrease in average sugar per 100ml sold through our 134 partner stores. Across our territories, we are also innovating to help consumers control their calorie and sugar intake by offering choice for every occasion. In Europe 4% of our sparkling soft drinks by volume is now in packs of 250ml or less. Action on – Drinks Reformulation of Coca-Cola Zero Sugar Globally, our reformulation of Coca-Cola Zero Sugar (or “Coca-Cola No Sugar” in some countries) is the result of years of innovation to deliver a new and improved taste as close as possible to Coca-Cola Classic, with no sugar. We launched this new Coca-Cola Zero Sugar in 2021 across many of our European and API territories, and New Zealand will follow in 2022. Case study Since 2010 we have introduced 790 low and no calorie drinks and changed the recipe for 235 products to reduce sugar content in Europe 31 Governance and Directors’ Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FStrategic Report

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Action on – Drinks CONTINUED Enjoy choice, enjoy taste To offer consumers more choice we have increased our portfolio of drinks to include RTD teas, organic soft drinks,	beverages	with	nutritious	benefits,	coffee	and	 alcohol with TCCC and our franchisors. In 2021, we launched Ocean Spray Pink in France, a sparkling	juice	blend	with	the	flavour	of	cranberries	for	a	 light and refreshing taste. In Portugal, we also launched Fanta	Guaraná,	the	first	zero	sugar	guaraná	flavoured	 beverage in the market. The expansion of our coffee portfolio across Europe saw the launch of Costa Coffee in Belgium, Norway and Spain in 2021, following its launch in Germany in 2020. Our coffee brand Grinders in Australia is now Rainforest Alliance	certified,	supporting	more	sustainable	practices	 for about two million farmers in 63 communities. Clear, straightforward information We are committed to providing clear and transparent nutritional product information, including detailed sugar and calorie content. In	2009,	we	were	one	of	the	first	companies	to	voluntarily	 introduce Guideline Daily Amount labelling on all of our packaging. Since 2017, our bottles in Europe and Australia have featured a servings per pack icon to show the amount of 250ml portions in a multi serve pack. We align with all global and local legislation and are encouraged to see growing support for colour based interpretive product labelling across the EU. We are closely monitoring developments related to the EU-led process for nutrition labelling. In Australia, we adopted the voluntary front of pack Health Star Rating on all our non-alcoholic drinks. The labelling system	rates	the	nutritional	profile	of	our	drinks	and	helps	 consumers make healthier choices. Responsible marketing Our clear policies and guidelines ensure we market our drinks responsibly. In Europe, through UNESDA we commit not to advertise in printed media, online or	during	broadcast	programmes	aimed	specifically	at	 children. Across our territories, we do not advertise or market any products to children under 12. Through our Responsible Sales and Marketing Principles we provide clear guidance to ensure that we are honest and transparent in everything we do, that we aim to never mislead consumers, and that we should take every opportunity to help consumers make informed choices about what they drink. In 2021, we updated these principles and briefed all our sales and marketing teams. Where we distribute drinks that contain alcohol, we respect the local code of practice for responsible marketing and promotion, including messaging on responsible drinking and marketing products in channels such as hospitality where consumers are adults over local legal purchase age. CCEP has been our partner for many years in remote Australia, and has ensured consistency of supply as well as support for strategic initiatives such as the wellbeing strategy to address community health, resulting in economic and employment benefits	for	local	communities.	 Ian Copeland, CEO, Community Enterprise Queensland Our progress(A) SUGAR REDUCTION SINCE 2015 Reduction in average sugar per litre in our soft drinks portfolio since 2015 Europe 2020 2021 15.3% 17.9% API Australia 11.2%2020 14.9%2021 Indonesia 17.2%2020 20.9%2021 New Zealand 9.3%2020 13.4%2021 SUGAR REDUCTION SINCE 2010 Reduction in average sugar per litre in our soft drinks portfolio since 2010 Europe 19.8%2020 22.2%2021 LOW AND NO CALORIES Products sold that are low or no calorie Europe 2020 2021 47.7% 48.6% API(A) Australia 41%2020 44%2021 Indonesia 14.3%2020 31.8%2021 New Zealand 35.5%2020 37.4%2021 (A) The acquisition of API completed on 10 May 2021. The API sustainability metrics are presented on a full year basis for 2021 and 2020 to allow for better period over period comparability.  Readmoreatwww.cocacolaep.com/sustainability/ this-is-forward/action-on-drinks 32 Governance and Directors’ Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FStrategic Report

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Water replenishment project Catalyst Project Catalyst, a joint collaboration between The Coca-Cola Foundation, sugar cane farmers in Queensland, Australia, WWF Australia, natural resource management bodies and the Federal Government, aims to reduce the agricultural runoff impacting the Great Barrier Reef. The project supports sugar cane growers to adopt beneficial	and	sustainable	farming	practice	 changes, and improve the quality of waters impacting the reef. Since 2009, the initiative has grown to include more than 130 farmers, improving the quality of	150	billion	litres	of	water	flowing	into	the	reef	 and has reduced runoff by 180 tonnes per year. In 2021, 8.1 billion litres of water have been replenished through the project. Case study We are committed to responsible water use: reducing our own water consumption and sustainably managing local water sources in partnership with local communities. Climate change impacts are continuing to exacerbate water scarcity and water quality, which provide a significant	risk	to	the	economy	and	wider	society.	 CCEP relies upon a sustainable and high quality water supply. It is the main ingredient in our products, is essential for our manufacturing processes and is critical for our ingredients. A reduction in the availability or quality of water where we produce our products or source our ingredients	could	significantly	impact	our	business.	 To address these challenges and protect our water resources, we have adopted a value chain approach to water management. Our approach to water stewardship is aligned with TCCC’s 2030 water strategy. This approach to water security allows us to prioritise the areas of our value chain – both operations and sourcing regions – most at risk from water stress. We are developing water reduction targets across our European and API operational	sites,	reflecting	the	needs	of	our	local	sites	 and sourcing regions. We measure performance through our water use ratio, which is the average amount of water we need to produce a litre of product. In 2021, our water use ratio in Europe was 1.58 litres of water per litre of product produced – a reduction of 13% since 2010. In API our water use ratio was 1.75 per litre of product produced. In 2022, we will update our water use targets as part of our This is Forward sustainability action plan. We return 100% of our wastewater safely to nature and our community based partnerships across our territories replenish the water we use in areas of water stress. Water approach Our water risk mapping is based upon a series of risk assessments. All our sites are assessed through a global enterprise water risk assessment which uses the World Resources Institute’s (WRI) global water risk mapping. This is supported by local Facility Water Vulnerability Assessments (FAWVAs). Through the WRI Aqueduct Water Stress mapping tool, we know that 22 of our 45 production facilities in Europe, and three of our 24 production facilities in API are located in areas of high baseline water stress(A). In 2021, these sites used 10.7 million m³ of water in our production volume in Europe, and 1.37 million m³ of water in API. This represented 55.6% of our total production volume in Europe, and 22.6% in API. In 2020, all of our production facilities completed their first	annual	FAWVA,	allowing	us	to	assess	a	wider	range	 of physical, regulatory and social risks. We used this assessment to categorise our sites into “leadership”, “advanced	efficiency”	and	“contributing	locations”	 (based on the level of local water risk) and set local context-based targets. Based upon the FAWVAs, eight of our production facilities in Europe, and four in API have been	identified	as	“leadership	locations”,	representing	 7.9 million m³ of our total water volume. Sites in leadership locations are those which rely on vulnerable water sources or have a high level of water dependency. These sites have the highest water reduction targets, and aim to achieve 100% regenerative water	use.	This	means	finding	a	beneficial	use	for	our	 wastewater and replenishing any remaining water through replenishment projects in the local watershed. The FAWVAs are supported by source vulnerability assessments (SVAs), which are undertaken at a local level	every	five	years	and	are	aligned	to	the	Alliance	for	 Water Stewardship Standard. The FAWVAs and SVAs feed into our site water management plans (WMPs), which support target management, climate resilience, data sharing and reporting. In 2021, all our non-alcoholic drinks production facilities had SVAs and WMPs in place. Action on – Water Improving water security Our manufacturing and cleaning processes are as water efficient	as	possible	and	we	continue	to	invest	in	our	 equipment in order to reduce our water use. In 2021, we reduced the rinsing time of our glass bottles at our Jordbro production facility in Sweden and saved 1.2 million litres of water a year. In Belgium, we will save up to six million litres of water using new vacuum pump fillers	for	beverage	filling	processes	that	we	introduced	 in 2021. We are piloting a project in Spain to track production line water usage through metering and online live tracking, and we aim to roll this out across Europe and API over 2022 and 2023. Water replenishment We aim to achieve 100% regenerative water use in the areas where it matters most: leadership locations where we	have	identified	local	water	risks.	This	means	we	will	 aim to reduce the water we use in these facilities as much as	possible,	find	a	beneficial	use	for	any	wastewater	and	 replenish 100% of the water used in these locations. We also aim to continue to replenish 100% of the water that we use where it is sourced from areas of water stress. (A) Soft drink production facilities only. In 2021, we closed two of our production facilities in Europe, but the production volumes from these facilities are included up until point of closure. With the support of the Coca-Cola Foundation, we will be able to restore biotopes such as fens and wet heath in order to return unique plants and animals to nature. Filip Hebbrecht, Responsible Partnerships at Natuurpunt 33 Governance and Directors’ Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FStrategic Report

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Action on – Water CONTINUED Our progress(A) WATER USE Water use ratio (litres of water/litre of product produced) Europe 1.572020 1.582021 API(B) 1.842020 1.752021 WATER REPLENISHMENT Amount of replenished water we used in our drinks, sourced from areas of water stress Europe(C) 275%2020 226%2021 API(D) 486% (B)2020 463%2021 (A) The acquisition of API completed on 10 May 2021. The API sustainability metrics are presented on a full year basis for 2021 and 2020 to allow for better period over period comparability. (B) Excludes the amount of water used for the production of products that contain alcohol. (C) Based upon production volumes from 22 sites assessed as being in areas of baseline water stress (WRI). (D) Based upon production volumes from three sites assessed as being in areas of baseline water stress (WRI).  Readmoreatwww.cocacolaep.com/sustainability/ this-is-forward/action-on-water In 2021, together with TCCC and The Coca-Cola Foundation, we managed 22 water replenishment projects in Europe and 6 in API. As a result, we replenished 27 million m³ of water across our territories; including 15.5 million m³ in Europe and 11.5 million m³ in API. This represents 226% of the water we sourced to make our drinks in areas affected by water stress in Europe, and 463% in API. Our water replenishment programmes include a programme with The Coca-Cola Foundation and Natuurpunt in Belgium to replenish 247 million litres of water per year over the next four years, through the redesign of heath and fenlands located in the same river basin as our production facility in Antwerp. In Spain, we continue supporting Misión Posible: Desafío Guadalquivir (Mission Possible: Guadalquivir Challenge) a project based in Seville and Cádiz and run in partnership with WWF and The Coca-Cola Foundation. The project aims to improve the irrigation of agricultural crops in the area and the biodiversity of the Guadalquivir river by restoring a nearby marsh. Water work with local government We collaborate with NGOs, local authorities, businesses and communities throughout our territories to improve water	efficiency	and	protect	the	health	of	our	watersheds.	 In 2021, we met the French government to discuss water allowances at our production facility in Dunkirk and will commence a water replenishment programme in 2022. In 2021, we also met with local water supplier Brabant Water in the Netherlands to discuss reduction, reuse and replenishment opportunities at our production facility in Dongen, and had our water extraction permit extended, acknowledging our strong long-term water management strategy. Restoring nature Preservation of natural ecosystems is key to our long-term success and sustainability. We aim to leave nature in a better state than how we found it, building adaptation and resilience into our key operating and sourcing regions. We are committed to restoring and enhancing biodiversity and nature by investing in nature based solutions that remove GHG emissions, support our water stewardship goals and eliminate deforestation across our value chain. In 2022, we aim to develop clear commitments and set measurable, time bound targets on biodiversity and deforestation across our combined business. We will also expand our existing understanding of biodiversity risks within our own operations, by conducting a biodiversity risk assessment. EUROPEAN WATER STEWARDSHIP Already	holding	a	gold	European	Water	Stewardship	certificate	 since 2013, our mineral water bottling plant in Chaudfontaine, Belgium,	obtained	a	platinum	certificate	for	sustainable	water	 management from the worldwide Alliance for Water Stewardship in	2021,	as	did	our	production	facility	in	Dongen	–	the	first	site	to	 receive this standard in the Netherlands. 28 community based water replenishment projects across our territories 27 million m³ water replenished across our territories 34 Governance and Directors’ Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FStrategic Report

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We rely on global supply chains to make, sell and distribute our products, yet these supply chains are under increasing pressure from population growth, increased demand for food products and climate change. We are committed to sustainably sourcing 100% of our agricultural ingredients and raw materials. Together with TCCC, we work collaboratively with our suppliers to support biodiversity and ecosystems, to respect and protect the human rights of everyone working across our supply chain and create systemic and sustainable change. We believe sustainable supply chains offer solutions to major challenges including human rights, water security, climate resilience, GHG emissions reduction and women’s empowerment. We ensure our suppliers respect our Code of Conduct and make a positive impact on society, in line with the United Nations’ Guiding Principles on Business and Human Rights, the International Labour Organisation’s Declaration on Fundamental Principles and Rights at Work and the United Nations’ Global Compact. Responsible sourcing In Europe, we source products from around 13,200 suppliers and 83% of our spend (excluding concentrate and juices purchased from TCCC and other franchisors) is with suppliers based in our territories. We are committed to sustainably sourcing ingredients for our drinks, including water, sugar beet, sugar cane, coffee, tea and fruit juices, and raw materials for our packaging such as glass, aluminium, PET and paper. While we currently operate different regional principles to measure supplier compliance on sustainability and track progress, we are aligning our activities in Europe and API to create a single global responsible sourcing programme, which we will launch in 2022. In Europe, we operate TCCC’s Supplier Guiding Principles (SGPs) and Principles for Sustainable Agriculture (PSA). In API, we track compliance on sustainability through Responsible Sourcing Guidelines (RSGs), SGPs and PSA. The SGPs set minimum requirements for labour conditions, health and safety, and human rights. The PSAs apply to agricultural ingredients and raw material suppliers, covering sustainable farm management, including the protection of woodlands from deforestation and minimising impacts on biodiversity. Our RSGs cover supplier performance related to business ethics, human and workplace rights, the environment,	and	providing	benefits	to	communities.	 TCCC commissions independent audits to monitor how our ingredients and packaging suppliers comply with SGPs	and	RSGs.	PSA	compliance	is	verified	through	 adherence to global third party sustainable agriculture standards approved by TCCC. We work in partnership with EcoVadis, an independent evaluation company to rate the sustainability performance of our suppliers, including environment, carbon management, human rights and fair business practices. In Europe, we are aiming for our suppliers to achieve an average overall score of 65 by 2025. In 2021, these suppliers had an average overall score of 59 out of 100. Action on – Supply chain The quality and integrity of our products depends on sustainable global supply chains with successful and thriving farming communities and ecosystems where human rights are respected. Reaching net zero with our suppliers Over 90% of our value chain GHG emissions come from our supply chain and we are collaborating with our suppliers, helping them to reduce their emissions. A year after we launched our net zero 2040 ambition and 2030 emissions reduction target in Europe, we are	making	significant	progress	with	our	suppliers.	 We have asked them to take action on three key areas by 2023: set SBTi validated GHG emissions reduction targets; commit to using 100% renewable electricity across their own operations; and to share their carbon footprint data with CCEP. By the end of 2021, 47% of our “carbon strategic suppliers” in Europe (i.e. those suppliers that account for over 80% of our Scope 3 emissions) were engaging directly with SBTi to set their own science based targets. This	represents	a	significant	increase	from	2020.	 We	are	also	working	to	understand	supplier	specific	 emission factors for carbon strategic suppliers across core aspects of our supply chain, such as packaging. This will be critical in helping us to build a more accurate	picture	of	our	Scope	3	emissions	and	reflect	 the impact of our suppliers’ actions. Case study 35 Governance and Directors’ Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FStrategic Report

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Protecting inherent rights and freedoms Human rights are fundamental to how we run our business and the communities in which we operate. We are committed to ensuring everyone who works at CCEP and in our supply chain is treated with dignity and respect. In 2021, we provided human rights training to all procurement employees in Europe. We continue to improve the validation and proactive management of our suppliers in key areas such as human rights and modern slavery. This includes our collaboration with EcoVadis, via technology platform IQ, which allows us to screen our entire supply base and understand inherent risks by country and industry. In 2021, we started using data gathered through IQ to proactively manage sustainability risks across our supply base. In addition, in partnership with Resilinc, we successfully piloted an	artificial	intelligence	tool	for	proactively	identifying	 potential risks that could impact our business through our supply network beyond our direct suppliers. We will roll out the tool across our territories in 2022. In	API,	we	drive	positive	social	outcomes	via	specific	 social procurement programmes, and focus on supporting and upholding the human rights of vulnerable or disadvantaged groups. In 2021, we spent approximately €3 million with social enterprises that support employment opportunities for disadvantaged groups in Australia. Action on – Supply chain CONTINUED Our progress(A) SPEND COVERED BY GUIDING PRINCIPLES Our spend with suppliers that are covered by the SGPs Europe 97%2020 97%2021 Our spend with suppliers that are covered by the RSGs API(B) 91.6%2020 90.3%2021 SUSTAINABLY SOURCED SUGAR Sugar sourced from suppliers that comply with the PSA Europe 100%2020 100%2021 API 92%2020 100%2021 SUSTAINABLY SOURCED PULP AND PAPER Pulp and paper sourced from suppliers that comply with the PSA Europe 100%2020 100%2021 API(C) 96%2021 (A) The acquisition of CCL completed on 10 May 2021. The API sustainability metrics are presented on a full year basis for 2021 and 2020 to allow for better period over period comparability. (B) Supplier spend in Australia, Indonesia and New Zealand only. (C)	2021	is	the	first	year	we	track	PSA	compliance	for	pulp	and	paper.	  Readmoreatwww.cocacolaep.com/sustainability/ this-is-forward/action-on-supply-chain Together with CCEP we are taking action towards a low carbon future by reducing our emissions through a commitment to science based targets. Sustainability is at the centre of our recently published strategy. Nordzucker is proud to work with a company that shares our goals. Alexander Godow, COO Nordzucker AG In 2021, CCEP was awarded platinum status by EcoVadis, with a total score of 81 out of 100. This places CCEP in the top 1% of companies in our sector. 36 Governance and Directors’ Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FStrategic Report

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We are grateful for the passion, talent and hard work our people contribute to create our company culture and deliver sustainable growth. We provide a workplace that promotes wellbeing, inclusion and respect, where people at every level can be heard, grow and have a positive experience. Being well Our people’s physical and mental wellbeing remain our priority and we promote this in our workplace. Throughout the COVID-19 pandemic, we have taken measures to ensure our people can continue to work safely and feel supported. At a global level, physical safety ranked number one and personal wellbeing scored positively in our engagement and culture pulse survey in June 2021. We continue to embed a strong health and safety culture, systems, processes and programmes, including a target to reduce our total incident rate to below 1 by 2025. Tragically there were four employee fatalities during 2021; one in Belgium and three in Indonesia. The incidents were investigated with the local authorities and we continue to improve our safety procedures to prevent a reoccurrence. In Europe, our total incident rate was 1.11 per 100 full time equivalent employees, and in API this was 0.75. Further information about our safety performance and incident rates will be available on our website from May 2022. In cases where our people are injured or suffer any mental or physical health issues while employed by CCEP, we endeavour to make any reasonable adjustments to their duties and working environment to support their recovery and continued employment. Over 2021, we’ve grown our Wellbeing First Aider initiative to build an internal mental health support network of over 600 trained employees globally. More than	1,000	people	have	received	support	and	benefitted	 from our Employee Assistance Programme, a 24/7 independent service offering free professional care and counselling, self-help programmes, interactive tools and educational resources for our people and their family members. In 2021, we’ve done more to promote these initiatives, including our “Don’t bottle it up” campaign featuring some of our colleagues’ experiences of wellbeing support in our workplace.  Formoreinformationaboutourpeoplegoto www.cocacolaep.com/sustainability/this-is-forward/ action-on-society-our-people/ Our people 01 Being well 02 Being connected The safety and wellbeing of our people is vitally important. We want everyone to feel happy and healthy and to work with integrity and respect so we can all thrive at work and at home. We’re powerful when we work as part of a winning team – championing communication, connection and collaboration. 03 Being valued 04 Being developed We are at our best when we can be ourselves at work, when we can be heard, share our perspectives and insights and build upon our strengths. Our experiences make us stronger and we support our people in exploring opportunities to develop – providing possibilities to continually learn, grow in their role and get to where they want to be. 05 Being recognised 06 Being inspired All our people have a part to play in CCEP’s growth and we recognise, reward and celebrate the great work they do every day. We do this in ways that are simple, transparent and consistent. We strive to be a force for good – for people and for the planet. We‘re passionate about what we do and what we stand for, and our people are empowered to make a difference. ME@CCEP Me@CCEP	defines	 the experience we want our people to have at CCEP It is about Not all disabilities are visible On the UN International Day of Persons with Disabilities 2021, we worked with TCCC to produce a new bottle label that voices our values on disability inclusion. The label features purple, the colour increasingly associated with disability inclusion and sparking conversations worldwide. It also features the statement that “Not all disabilities are visible”, a reminder that some disabilities are not immediately apparent. Currently for internal use, we are gathering feedback from key stakeholders, so we can further develop and improve this initiative. Case study 37 Governance and Directors’ Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FStrategic Report

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Being connected Good communication is an essential part of building a motivated, engaged workforce. Our people have access to news and information about CCEP in local languages through internal communication platforms, Redline in Europe and Workplace in API. There is also direct dialogue through business talks and all hands meetings. CCEP management gives updates about CCEP’s overall, and local, performance through these channels. We’re committed to communicating clearly and transparently with our people. We continue to invest to improve our people’s access to information. In 2021, we introduced Compass, a new online platform bringing together all apps and digital services our people use in one place. We have improved the interface and experience of our people platform, Genie, in response to employee feedback. Our people use platforms to ask questions, provide feedback, and connect with our leadership on all topics from sustainability to innovation. CCEP meets regularly with European, national and local works councils and trade unions that represent our people. When required, we consult with our people and their representatives to discuss proposed measures before making decisions. We encourage constructive and meaningful dialogue. During consultation, our employee representatives have the opportunity to ask questions, share views and propose alternatives to proposals before management	makes	a	final	decision. ReadmoreabouthowourDirectors,andCCEPengagewith ourpeopleonpage 12 Our policies and procedures ensure consistency and fairness across CCEP. Our policies are written in an understandable way and are accessible in local languages. Every year we review our policies to ensure they are up to date with legal requirements and relevant for business and social strategies. In 2021, we took the opportunity to harmonise policies across Europe and API. Being valued Our philosophy is that “everyone’s welcome to be themselves, be valued and belong” at CCEP. We are committed to building a diverse workforce, with an inclusive culture and equity at its core. We have created an environment with opportunities for people of every culture, faith, ethnicity, heritage, ability, gender, sexual orientation and age. We believe this commitment will enable us to take positive action for people, better represent the society we serve and support our sustainable business growth. Led	by	our	ID&E	Centre	of	Expertise	and	sponsored	 by	our	ELT	members,	we	deliver	our	ID&E	strategy	by	 listening to our people’s lived experiences, developing action	plans	and	tracking	progress	against	our	five	pillars:	 culture and heritage; disability; gender; LGBT+; and multi generations. We have dedicated groups of employees and ELT sponsors	catalysing	action	at	scale	to	remove	identified	 barriers to inclusion. In 2021, we ran a year-long campaign aimed at breaking barriers that stand in the way of equality in the workplace. As part of this campaign, we delivered a panel conversation with our Chairman, CEO, sponsors and employee ambassadors about gender	based	stereotypes.	We	ran	ID&E	workplace	 audits on disability and LGBT+ matters to identify best practices for implementation. We featured colleague experiences of working successfully across generations at CCEP. We shared videos featuring advice from our employees on using culturally inclusive words and the importance of allyship. For	the	first	time,	we	ran	a	voluntary,	anonymous	survey	 focused	on	ID&E	in	the	majority	of	our	countries	in	2021.	 This provided our people with the opportunity to give feedback on their inclusion experience at CCEP and self-declare personal diversity information. Employees participated in Europe, Australia and New Zealand. We expect the outcomes to enable us to better understand the diversity of our workforce at all levels, improve the inclusivity of our people’s experience and ensure equity is embedded in our infrastructure and people policies. As part of our commitment to inclusive, diverse and equitable workplace practices, we continue to partner with organisations and bodies such as European Network Against Racism, the Valuable 500, the Business Disability Forum, LEAD Network, the United Nations Women’s Empowerment Principles, Stonewall and the Social Mobility Index. ReadmoreaboutID&EatCCEPonpage 85 Workforce diversity in 2021 Male Female Total employees (including part time employees)(A) 76.2% 23.8% 25,182 7,876 Total: 33,059 Board of Directors 29.4% 70.6% 12 5 Total: 17 Leadership (senior management grade including ELT)(B)(C) 36.2% 63.8% 2,082 1,183 Total: 3,265 Directors of subsidiary companies(C) 24.2% 75.8% 91 29 Total: 120 (A)	Includes	one	employee	who	identified	as	non-binary. (B) The members of the ELT and their direct reports consists of 55 female and 71 male employees. (C) 20 female and 53 male directors of subsidiary companies are also included in the workforce diversity statistic under leadership. Our people CONTINUED 38 Governance and Directors’ Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FStrategic Report

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A key target of our sustainability action plan, This is Forward, is to ensure that at least 40% of our management positions (senior management and above) in Europe are held by women by the end of 2025. In 2021, 37.3% of leadership positions were held by women, up from 35.6% in 2020. We have been reaccredited recognition for our continued commitment to gender balance in the workplace, including the Gender Tick in New Zealand, the	Equal	Pay	Certificate	in	Iceland,	+Fières	en	2021	 and 99 score on the Gender Index in France and via the Global Bloomberg Gender Equality Index. We are committed to being an equal opportunities employer. We make decisions about recruitment, promotion, training and other employment matters solely on the grounds of individual ability, achievement, expertise and conduct. We don’t discriminate on the basis of gender, gender identity, race, religion, ethnicity, cultural heritage, age, social background, mental or physical ability or disability, national origin, sexual orientation or any other reason not related to job performance or prohibited by applicable law. Being developed We are committed to creating a workplace where our people can be heard, grow and advance. We have increased	our	cadence	of	confidential	pulse	surveys	to	 provide our people with more opportunities to share how they’re feeling throughout the year and to gain insights to strengthen our workplace culture, improve our people’s experience at work and our business. In June 2021, 24,245 (79%) employees participated in our global engagement and culture pulse survey. On a global level, employee engagement scores are above benchmarks, and our people recommend CCEP as a great place to work. We continue to develop and deliver action plans in each of our countries and corporate functions to act upon the valued voice of our people. We have refreshed our talent philosophy “everyone has talent	and	everyone	can	grow”	reflecting	our	commitment	 to develop talent internally, winning capabilities for the future and accelerate succession for targeted roles. We have training programmes and platforms to develop core capabilities in leadership, commercial, customer service and supply chain at every level of our business. We continue to deliver our wellbeing training modules to our employees. Almost 7,000 managers have now completed this training. We have also launched three new ID&E	learning	modules	on	practising	inclusive	leadership,	 starting	an	ID&E	conversation	and	allyship.	Underpinning	 this formal learning is a series of resources, which include conversation guides on LGBT+, allyship, inclusive language, discussing disability and addressing age stereotypes, as well an accessible communication toolkit. We	are	progressing	plans	for	working	flexibly.	 We continue to value and invest in our early career talent and support initiatives that help young people gain employability,	skills	and	confidence.	This	includes	offering	 internships, apprenticeships and graduate programmes. For the sixth year, we partnered with One Young World. CCEP delegates attended the summit and an internal post-development programme. They joined over 1,800 young leaders to engage, learn, challenge and discuss important sustainability issues the world faces, covering topics from climate change to poverty alleviation. Being recognised We pay salaries in line with appropriate market rates, as well as providing our people with a range of other benefits.	These	vary	according	to	their	country	and	level	 in	the	organisation.	Benefits	include	medical	or	dental	 insurance, life insurance, eyecare vouchers, holiday time and leave packages to cover sickness, post natal childcare, bereavement or a long-term illness in the family. Depending on the country, level and grade, we also offer pension plans. Employee ownership In 2021, we announced the new global CCEP Employee Share Purchase Plan, which will give our employees the opportunity to buy shares in CCEP on a regular basis from 2022. In recognition of this investment, for every share an employee purchases, CCEP will provide a matching share, up to an agreed limit. Around three quarters of our employees participate in annual variable remuneration plans. We offer a consistent annual bonus plan to around 13,000 people across the organisation. In addition, sales incentive plans are in operation for 25% of our people and a further 24% participate in local incentive plans. ReadourDirectors’remunerationreportonpage 92–107 Being inspired We are determined to draw on our people’s passion for what we do and empower them to make a positive difference in our local communities. In 2021, we ran a series of sessions engaging our new colleagues in API to ensure that everyone feels welcome at CCEP, that they belong, can contribute to our shared purpose, strategy, culture and ways of working. Our people in Europe can spend up to two paid working days each year volunteering for a charity or cause of their choice. While we currently operate different regional policies related to employee volunteering, we will align our approach in 2022. ReadmoreaboutourActiononsocietyonpages 29–30 Our people CONTINUED Being a Wellbeing First Aider “We all experience highs and lows so when we are feeling low, we need to take care of mental health just like we would take care of ourselves if	we	had	the	cold	or	flu.	Sometimes,	it’s	hard	to	 prioritise our mental health but that’s why I became a Wellbeing First Aider, to help colleagues better understand the importance of maintaining mental wellbeing. Being a Wellbeing First Aider is something that I am proud of because I feel that I can make a difference by supporting someone who may be struggling.” Justin McKenzie, Sales Manager for On Premise in the Victorian Licensed Team, Australia Case study 39 Governance and Directors’ Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FStrategic Report

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Corporate governance At CCEP we hold ourselves accountable to the highest standards of corporate governance and aim to provide transparent and timely information in respect of our activities to our stakeholders. CCEP has a strong corporate governance framework with a Board overseeing the interests of all stakeholders. Management has a Compliance and Risk Committee chaired by CCO which advises the ethics and compliance (E&C)	function	and	provides	management	input	regarding	 the	E&C	programme. Readmoreaboutourcorporategovernanceonpages 64–81 Ethics and compliance Our	E&C	programme	ensures	we	are	conducting	 our operations in a lawful and ethical manner. The programme	is	applicable	to	our	people,	officers	and	 Directors. It also supports how we work with our customers, suppliers and third parties. We live up to our responsibilities as a business by being accountable, ethical and aware of the risks in everything we do. Code of Conduct Our Code of Conduct (CoC) seeks to ensure that we act with integrity and accountability in all our business dealings and relationships, in compliance with all applicable laws, regulations and policies. We expect everyone working at CCEP to adhere to the CoC, which was updated in 2021. We also expect all third parties who work on our behalf to act in an ethical manner consistent with our CoC and to comply with our SGPs. The CoC has been formally adopted in all our territories, as well as our shared service centres in Bulgaria. All employees are required to undergo CoC training, which is part of the induction process for new employees. Training	on	specific	topics	related	to	their	roles	is	also	 provided	where	needed.	Our	CoC	specifically	calls	out	 manager responsibilities and includes a matrix to help with decision making and guidance on situations such as bullying and harassment. Preventing bribery and corruption We aim to prevent all forms of bribery and corruption in our business dealings. Our CoC sets out our principles and standards to prevent bribery and corruption, including conflicts	of	interest	and	the	exchange	of	gifts	and	 entertainment. Our Anti-bribery, Gifts and Entertainment Policy and our Conflicts	of	Interest	Policy	apply	to	all	employees.	They	 are required mandatory training for a targeted audience. Raising concerns Any employee who wishes to raise concerns about wrongdoing at CCEP is encouraged to speak to a line manager and/or raise a report through our Code Resources which include our dedicated Speak Up channels. When any employee raises a concern through our Code Resources in relation to the CoC, CCEP will act promptly and appropriately. Operating with integrity Code of Conduct reports by type January – June 2021 July – December 2021 Europe API CCEP consolidated Number %(A) Number %(A) Number %(A) Ask a question – – – – 1 1 Avoiding	conflicts	of	interest 3 6 1 5 2 1 Creating an inclusive and respectful workplace 17 36 2 9 25 16 Dealing fairly with customers, business partners and suppliers 1 2 – – 3 2 Delivering high quality products 2 5 – – – – Getting involved in political activities – – – – 1 1 Integrity with business records(B) 4 9 – – 60 40 Integrity	with	our	financial	records – – – – – – Other	concerns	–	financial – – – – – – Other	concerns	–	non-financial 1 2 – – 3 2 Preventing bribery and corruption – – 8 36 1 1 Protecting information 3 6 – – 1 1 Respecting global and local laws and customs 3 6 – – 1 1 Responsible communications 1 2 – – 2 1 Using	company	assets	responsibly	–	non-financial 6 13 5 23 32 21 Working in a safe and healthy environment 6 13 6 27 18 12 Grand total 47 100 22 100 150 100 Number of employees resigned or dismissed 18 – (D) 50 Number of disciplined employees still employed(C) 20 –(D) 92 (A) % versus overall reports. (B)		Not	limited	to	our	financial	records.	Business	records	include	records	such	as	payroll,	timecards,	travel	and	expense	reports,	job	applications,	quality	reports,	 field	sales	measures,	customer	agreements,	and	inventory	and	sales	reports. (C) Some cases involve more than one employee. (D) No data available for API. 40 Governance and Directors’ Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FStrategic Report

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Operating with integrity CONTINUED Our human rights training was refreshed in 2021 to focus on the process of human rights case management for all procurement managers who interact with suppliers. Following the Acquisition, we rolled out compliance training packages across API on several key areas such as CoC, human rights, anti-competitive practices, preventing bribery and corruption, data protection, whistle blower protection and human rights training targeted at all employees. Formoreinformationaboutourapproachtohumanrightsgoto www.cocacolaep.com/sustainability/human-rights Seeourmodernslaverystatementat www.cocacolaep.com/sustainability/download-centre In Europe, we initially prioritised compliance and action on four of the key areas (i) health, safety and security; (ii) equality and non-discrimination; (iii) working hours; and (iv) migrant and temporary workers. In 2020, we also developed action plans for: (i) freedom of association; right to privacy; and data protection. We prioritised additional measures to ensure the health and safety of everyone working for CCEP during COVID-19 which delayed us taking action on forced labour and wages. We started a deep dive on these priority issues in 2021. We manage our human rights obligations, risks, and the actions required to mitigate those risks, by implementing a strong governance framework. We recognise that all our employees and supply partners have a role in identifying and mitigating the risks of human rights across our business. Employees and managers are empowered to recognise and address human rights risks and issues as they conduct their work and this extends to the arrangements we agree with worker and trade unions, membership of which we always foster. Respect for human rights We consider human and workplace rights to be inviolable and fundamental to our sustainability as a business. We are committed to ensuring that everyone working throughout our operations and within our supply chain is treated with dignity and respect. Our principles regarding human rights are set out in CCEP’s Human Rights Policy, which is aligned with accepted international standards such as the UN Guiding Principles on Business and Human Rights. Further information is provided in the SGPs and the PSA in Europe and within the RSGs and SGPs in API. RSGs set out the expectations towards our suppliers’ performance related to business ethics, human and workplace rights, the	environment,	and	providing	benefits	to	communities.	 In API, 90% of our spend in 2021 was with suppliers which comply with our RSGs. We have a zero tolerance approach to modern slavery of any kind, including forced labour, and any form of human trafficking	within	our	operations	and	supply	chain.	In	2017,	 CCEP	published	our	first	Modern	Slavery	Statement	and	 continue to update this annually. Prior to the Acquisition, CCL	published	its	first	Modern	Slavery	Statement	in	2020. In	2019,	CCEP	conducted	its	first	human	rights	risk	 assessment	and	identified	nine	key	areas	posing	the	 greatest risk to our people at work and across our value chain.	In	2019,	CCL	also	conducted	its	first	human	rights	 risk	assessment	and	identified	twelve	key	areas	 comprising	the	same	nine	key	areas	identified	by	CCEP	 in its human rights risk assessment plus three additional key areas: (i) freedom from bribery and corruption; (ii) cultural rights of minorities; and (iii) children and young people’s protection from exploitation. These key areas are our priority issues for Europe and API summarised in the Human rights risk assessment table below. Human rights risk assessment: priority issues for Europe and API Migrant and temporary workers Forced labour Data protection Health, safety and security Right to privacy Freedom of association Wages Working hours Equality and non- discrimination Children and young peoples protection from exploitation Cultural rights of minorities Freedom from bribery and corruption Specific to API 41 Governance and Directors’ Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FStrategic Report

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Principal risks Our Enterprise Risk Management framework addresses the principal risks we face as a business and how we identify, assess and manage them. Our approach to risk The Board has overall responsibility for risk management at CCEP. The Board is closely involved in identifying risks and the strategic response to them, and monitoring management actions to achieve its strategic objectives. To	support	this,	risk	management	is	firmly	embedded	 within our everyday business activities and culture. We identify and assess risk with appropriate risk management strategies, implemented at various levels of our business. CCEP’s enterprise risk management (ERM) framework looks at risks we face and how we can capitalise on opportunities. Since the creation of CCEP and more recently the Acquisition, we have continually evolved our risk management capabilities through seamless collaboration across the business. We review and adapt our risk and internal control systems to address the changing risk environment and to adopt best practice. Through	our	One	Risk	Office	(a	forum	to	exchange	 information between all second and third line of defence teams) we discuss and manage risks, responding swiftly through established processes including incident management, business continuity planning (BCP) and risk transfer mechanisms (e.g. insurance). During the ongoing COVID-19 pandemic, the risk framework has allowed us to respond rapidly to a continuously changing environment. We leverage our learnings to strengthen our risk management framework and better prepare for future challenges. Assessing risk To gain an understanding of the risks CCEP faces, we assess risks top down and bottom up. Our annual enterprise risk assessment (ERA) gives us a top down strategic view of risk at the enterprise level. During this assessment we carry out a risk survey with our top business leaders, followed by interviews with the Board, Audit Committee, and our Executive Leadership Team (ELT) to identify current and emerging risks. We periodically review and update our assessment processes. In 2021, we received feedback from over 120 of our top leaders, including all Board members. In 2021, we started to group our enterprise risks into six themes to facilitate focused discussions among the Board and respective risk owners: revenue; supply chain; business	continuity,	IT	and	finance;	license	to	operate	 including ESG; economic and political; and the franchise model. To gain a bottom up view of risk, from an operational perspective, we carry out risk assessments at a business unit (BU), functional and project level. Each BU has established local compliance and risk review processes, undertaken by its local leadership team. The local leadership teams review and update risk assessments, ensuring that risk management is incorporated into daily business routines. In 2021, we introduced a BU business partner model, giving dedicated support to the BU from a ERM team member, which is shown on page 43. The day to day work is overseen by the management committee, (Compliance and Risk Committee, chaired by	the	Chief	Compliance	Officer).	Every	quarter,	the	 committee invites risk owners to share updates on key risks and how they are being managed. In 2021, these included updates on: COVID-19 and business continuity management;	API	specific	risks;	key	suppliers;	training;	 packaging; human rights; policy changes; data privacy; cyber security; and sharing and discussing results of targeted risk exercises such as assessments, scenarios and simulations. In 2021, following the Acquisition we started to integrate API’s risk management into our existing risk management framework by updating our enterprise risks and performing API country risk assessments. We continued to include important key areas such as employee health and safety, food safety, fraud, legal and tax. These functional risk assessments are integrated into our annual business planning routine. We also completed deep dives into new legislation and water scarcity. Targeted risk assessment and management projects for topical issues within each BU, such as Brexit and COVID-19, were also completed through risk deep dives. Measuring and managing risk Once	risks	are	identified,	we	analyse	them	to	understand	 the likelihood of the risk happening and its potential impact. We consider how we manage risks, putting action plans in place and reviewing impact scales annually. In	2021,	we	reassessed	these	with	a	focus	on	financial	 impact following the Acquisition, giving each BU local financial	impact	scales	to	assess	local	risks.	In	addition	to	 likelihood and impact, our risk assessment methodology considers velocity, to understand the speed at which a materialising risk may impact our business. Since the implementation of risk appetite statements in 2020, we have used this tool to support business decision making aligned with our strategic objectives. We compare the	as-is	risk	profile	(outcome	of	ERA)	during	quarter	one	 with our current risk appetite statements and to-be risk profile.	Risk	appetite	statements	are	reviewed	annually	 by the Compliance and Risk Committee and the Audit Committee	with	actions	defined	as	necessary. We will adapt the risk appetite statements for operations by	defining	key	risk	indicators	for	each	statement	with	the	 risk owners. The management of the key risk indicators will be done via our risk and compliance governance tool, Riskonnect. Adverse trends and breaches of thresholds will be reported to the Compliance and Risk Committee following	a	defined	escalation	protocol. In 2021, we conducted further operational scenario analysis and planning to understand how key risks such as water scarcity impact us (for example exercises in Belgium and Spain). We are exploring opportunities to improve our strategic scenario planning capabilities to support strategic decision making, such as for climate and cyber risk scenarios. We are looking to partner with external providers to apply state of the art scenario planning tools and methodologies. To improve our capability to identify emerging risks earlier, we have partnered with an external provider to use an artificial	intelligence	supported	risk	sensing	tool	to	extract	 relevant information and trends from all available external and internal sources. We manage risk through the framework, our processes and policies. Our annual policy review ensures the policies and related policy guidance within CCEP are valid. Changes within the documents have been approved by the Compliance and Risk Committee. New policies, for example, the Travel Security Policy, the Data Management and Retention Policy and the Anti-facilitation of Tax Evasion Policy, have been approved by the Board and the Compliance and Risk Committee. In 2021, an analysis of the CCEP landscape showed that all CCEP policies are related to a risk. The following pages set out a summary of our principal risks	based	on	the	findings	of	our	most	recent	ERA.	 The Board has carried out a robust assessment of these principal risks. This summary is not intended to include all risks that could impact our business and the risks are presented in no particular order. In this year’s report, we have showed how each principal risk links to and underpins the relevant aspect of our strategy. Beyond principal risks, CCEP faces other operational risks which are managed as part of our daily routines, such as employee health, safety and wellbeing, fraud and human rights.  Readaboutourriskfactorsonpages 195–202 42 Governance and Directors’ Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FStrategic Report

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Principal risks CONTINUED Principal risk map(A) External External opportunities and risks, such as macroeconomic, socio/political and competition risks, that could fundamentally impact business strategy. Typically managed by teams that respond to significant	shifts	in	government	relations,	 consumer or supplier behaviour. Strategic Internal opportunities and risks that could impede the achievement of strategic objectives and targets, such as poor resource allocation or decision making. Typically managed by senior leaders responsible for delivering strategic initiatives set by the Board. Operational Opportunities and risks that could impact day to day operations in areas such as production, logistics or sales. Managed across all business areas through controls embedded in processes and procedures. Extreme events Opportunities and risks that would have an extreme impact on the business (such as war,	cyber	attack,	global	financial	crisis,	 natural disasters, etc.). These can materialise in any part of the business and may coincide with other risks in particular scenarios. Note: extreme events could occur in any principal risk and are, therefore, not allocated to any single specific	category. Velocity scale: (speed to impact) Very rapid (Less than one month) Rapid (Less than one year) Moderate (One to three years) Slow (Greater than three years) Major Significant Moderate Minor Unlikely Possible Likely Highly likely Principal risks 1 Geodemographic 2 Packaging 3 Cyber and social engineering attacks and IT infrastructure 4 Economic and political conditions 5 Market 6 Legal, regulatory and tax 7 Climate change and water 8 Perceived health impact of our beverages and ingredients, and changing consumer buying trends 9 Competitiveness, business transformation and integration 10 People and wellbeing 11 Relationships with TCCC and other franchisors 12 Product quality How we embed Enterprise Risk Management (ERM) within our business (Business Unit Risk Model) MoreinformationonOuroperationscanbefoundonpages 10–11 BU VP legal team risk champions Risk	identification,	 assessment and understanding Local	risk	profilesRisk informed decision making and best practice sharing Dedicated ERM support via Single Point of Contact (SPOC) One Risk Office platform support BU Leadership Team meeting Risk assessment Scenario planning Deep dives Risk governance and culture Annual Business Plan/ Long Range Plan integration Business Unit (BU) comparisons Likelihood (over next 5 years) Im pa ct (o pe ra tin g pr ofi t) 12 11 2 4 5 7 6 8 9 1 3 10 (A) Changes in risk are as against the Principal risks section of CCEP’s Integrated Report/ Annual Report on Form 20-F for the year ended 31 December 2020, as updated and supplemented in CCEP’s Results for the six months ended 2 July 2021 and COVID-19 update. 43 Governance and Directors’ Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FStrategic Report

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Principal risk Definition and impact Key mitigation Change Link to strategy 1 Geodemographic Our business is vulnerable to a range of risks that may materialise and cause disruption. These include threats and risks such as impacts of war, physical attacks (e.g. terrorism), cyber terrorism and attacks on third parties, and supplier	failure	as	well	as	natural	hazards	such	as	fire,	flood,	severe	weather	and	pandemics.	Working	with	teams	 across the business, we develop business continuity plans and resilience arrangements to ensure the delivery of our products and services no matter what the cause of disruption. This is to protect our people, our environment, our	reputation	and	our	overall	financial	condition.	In	some	cases,	such	as	the	current	COVID-19	pandemic,	health,	 economic and legal effects could have a direct or indirect impact on our ability to operate. – Continually updating our response to the situation and our people’s needs – Customers: working closely with suppliers, partners and TCCC to ensure we best serve our customers and respond to their needs – Communities: working closely with TCCC to support our communities – Governance: strong frameworks, business continuity plans, incident management teams, strategic business continuity scenario testing, risk reassessments used in business planning, increased frequency of reviews with country leadership teams, Board and TCCC incorporating learnings from the Coca-Cola system – Effective management of liquidity, costs and discretionary spend – Operational, technology and strategic resilience towers developed as part of our newly created business continuity and resilience strategy to enable further resilience and risk mitigation for CCEP – Training and awareness to build BCR capabilities throughout CCEP to improve buy in and skills when it comes to preparing for and responding to incidents – Business impact analysis (BIA) to analyse and identify critical people (roles), property, technology, equipment and suppliers (value chain) across CCEP and their associated maximum acceptable outages, recovery time objectives and recovery point objectives – Scenario planning exercise with stakeholders across facilities and functions to determine scenarios that could lead	to	the	unavailability	of	critical	dependencies	identified	in	the	BIA	and	the	associated	impacts	if	the	 scenarios were to occur – BCP	development	with	colleagues	across	the	business	to	mitigate	risks	identified	during	the	BIA,	scenario	 planning and risk assessment and having them available to use in following waves – Risk	assessments	to	identify	the	likelihood	and	impact	of	identified	scenarios	occurring,	enabling	BCPs	to	be	 developed in a targeted, meaningful way – Testing and exercising to validate BCPs are effective, giving teams capabilities to respond to incidents that may occur, through table top and live simulated exercises with stakeholders across CCEP, within sites and functions 2 Packaging Due to our concerns, and those of our stakeholders, about the environmental impacts of litter and GHG emissions, our packaging (especially single use plastic packaging) is under increasing scrutiny from regulators, consumers, customers, and NGOs. As a result, we may have to change our packaging strategy and mix over both the short and long term. This could result in a reduction in the use of single use plastic packaging and the introduction of new pack formats such as dispensed and reusable packaging, and we may be liable for increased costs related to the design, collection, recycling and littering of our packaging. We may be unable to respond in a cost effective manner and our reputation may be adversely impacted. – Continued sustainability action plan focused on packaging, including our commitments to: – Ensure that 100% of our primary packaging is recyclable or reusable – Drive higher collection rates, aiming to ensure that 100% of our packaging is collected for reuse or recycling – Ensure that by 2025 at least half of the material we use for our PET bottles comes from recycled plastic, aspiring to achieve 100% by 2030 – Invest in rPET infrastructure to help secure access to recycled material where needed – Work with TCCC to explore alternative sources of rPET and innovative new packaging materials – Work with TCCC to encourage consumers to recycle their packaging using existing collection infrastructure – Cross functional SPO with a dedicated focus on packaging collection and to ensure all sustainable packaging strategies are implemented on time – Support for well designed DRS across our markets as a route to 100% collection and increased availability of rPET – Support the establishment and management of Packaging Recovery Organisations (PROs) to deliver 100% collection in countries where no formal legislated collection structure exists for beverage packaging – Work to expand delivery mechanisms that do not rely on single use packaging, for example reusable packaging and dispensed delivery – Investment in depolymerisation recycling technology – We continue to develop the business models for packageless solutions (such as Freestyle) to provide an alternative offering for customers who do not want to use packaging – We also continue to develop the business models for reusable packaging to provide an alternative offering for customers who want fully circular alternatives to single use packaging – Increase	use	of	recycled	content	in	films – Moving from hard to recycle plastic shrink to sustainable board for multi packs Table 1(A) The table below shows our principal risks Link to strategy: Accelerate competitiveness Future ready culture Digital future Green future Principal risks CONTINUED (A) Changes in risk are as against the Principal risks section of CCEP’s Integrated Report/Annual Report on Form 20-F for the year ended 31 December 2020, as updated and supplemented in CCEP’s Results for the six months ended 2 July 2021 and COVID-19 update. 44 Governance and Directors’ Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FStrategic Report

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Principal risk Definition and impact Key mitigation Change Link to strategy 3 Cyber and social engineering attacks and IT infrastructure We rely on a complex IT landscape, using both internal and external systems, including some systems that are outside our direct control where employees work from home. These systems are potentially vulnerable to adversarial	and	accidental	security	and	cyber	threats,	and	user	behaviour.	This	threat	profile	is	dynamically	 changing, including as a result of the COVID-19 pandemic, as potential attackers’ skills and tools advance. This exposes	us	to	the	risk	of	unauthorised	data	access,	compromised	data	accuracy	and	confidentiality,	the	loss	of	 system	operation	or	fraud.	As	a	result,	we	could	experience	disruption	to	operations,	financial	loss,	regulatory	 intervention, or damage to our reputation. – Proactive monitoring of cyber threats and implementing preventive measures – Business awareness and training on information security and data privacy – Business continuity and disaster recovery programmes – A programme to identify and resolve vulnerabilities – Third party risk assessments – Corporate security business intelligence – Appropriate investment in updating systems – Hardware lifecycle process in place – Regular internal and external testing of our security controls (red teaming, pentesting) – Global Security Operations Centre, operated 24/7 – Executive Team and Board of Directors are actively engaged in the cyber strategy process 4 Economic and political conditions Our industry is sensitive to economic conditions such as commodity and currency price volatility, short-term interest	rate	volatility	and	inflation	changes	and	expectations,	political	instability,	low	consumer	confidence,	 lack of liquidity and funding resources, widening of credit risk premiums, unemployment and the impact of war, the widespread outbreak of infectious disease such as COVID-19. This exposes us to the risk of an adverse impact on CCEP and our consumers, driving a reduction of spend within our category or a change in consumption channels and packs. As a result, we could experience reduced demand for our products, fail to meet our growth priorities and our reputation could be adversely impacted. Adverse economic conditions could also lead to increased	volatility,	inflation,	energy	and	commodity	cost,	customer	and	supplier	delinquencies	and	bankruptcies,	 while restrictions on the movement of goods in response to economic, political or other conditions, such as COVID-19, could affect our supply chain. – Diversified	product	portfolio	and	the	geographic	diversity	of	our	operations	assist	in	mitigating	our	exposure	to	 any localised economic risk – Our	flexible	business	model	allows	us	to	adapt	our	portfolio	to	suit	our	customers’	changing	needs	during	 economic downturns – We	regularly	review	our	business	results	and	cash	flows	and,	where	necessary,	rebalance	capital	investments – Macro economic and political developments continue to be closely monitored to ensure that business is prepared to manage emerging situations – Monitoring of societal developments – We	have	a	very	robust	and	forward-looking	hedging	policy	for	managing	the	financial	risks	like	Fx,	commodity	 and interest rate risks 5 Market Our success in the market depends on a number of factors. These include actions taken by our competitors, route to market, our ability to build strong customer relationships and create value together (which could be affected by customer consolidation, buying groups, and the changing customer landscape) and government actions, including those introduced as a result of COVID-19 such as social distancing, the forced closure of some of our customer channels, restricted tourism and restrictions on large gatherings. This exposes us to the risk that market forces may limit our ability to execute our business plans effectively. As a result, it may be more challenging to expand margins, increase market share, or negotiate with customers effectively, and COVID-19 may also further adversely impact the market in previously unforeseen ways. – Shopper insights and price elasticity assessments – Pack and product innovation – Promotional strategy – Commercial policy – Collaborative category planning with customers – Growth centric customer investment policies – Business development plans aligned with our customers – Diversification	of	portfolio	and	customer	base – Realistic budgeting routines and targets – Investment in key account development and category planning – Continuous evaluation and updating of mitigation plans – Responded to COVID-19 by developing and investing in routes to market, for example, online channel, so our products remain available to consumers 6 Legal, regulatory and tax Our daily operations are subject to a broad range of regulations at EU and national level. These include regulations covering manufacturing, the use of certain ingredients, packaging, labelling requirements, and the distribution and sale of our products. This exposes us to the risk of legal, regulatory or tax changes that may adversely impact our business. As a result, we could face new or higher taxes, higher labour and other costs, stricter sales and marketing controls, or punitive or other actions from regulators or legislative bodies that negatively	impact	our	financial	results,	business	performance	or	licence	to	operate.	COVID-19	has	resulted	in	 both short-term and long-term changes to legislation and regulation. It may also lead to future increases in taxes to	finance	the	cost	of	government	responses	to	COVID-19.	In	addition	to	the	changes	that	took	immediate	effect	 from 11pm GMT on 31 December 2020, we expect Brexit could, over time, lead to increased diversity of regulation and	consequent	costs	of	compliance	including	inability	to	or	difficulties	in	standardising	product	and	process	 between the UK and CCEP’s other markets. – Continuous monitoring of new or changing regulations and appropriate implementation – Dialogue with government representatives and input to public consultations on new or changing regulations – Effective compliance programmes and training for employees – Measures set out elsewhere in this table in relation to legal, regulatory and tax changes with respect to any of the other principal risks, and in particular in relation to packaging, perceived health impact of our beverages and ingredients, and changing consumer preferences – Increasing	recycled	content	level	in	specific	countries	to	mitigate	tax	impact Principal risks CONTINUED 45 Governance and Directors’ Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FStrategic Report

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Principal risk Definition and impact Key mitigation Change Link to strategy 7 Climate change and water Political	and	scientific	consensus	indicates	that	increased	concentrations	of	carbon	dioxide	and	other	GHGs	are	 causing climate change and exacerbating water scarcity. Such GHG emissions occur across our entire value chain including our production facilities, cold drink equipment and transportation. GHG emissions also occur as a result of the packaging we use and ingredients we rely on. Our ingredients and production facilities also rely heavily on the availability of water. This exposes us to the risk of negative impacts related to our ability to produce or distribute our products, or the availability and price of agricultural ingredients and raw materials as a result of increased water scarcity. Failure to address these risks may cause damage to our corporate reputation or investor confidence,	a	reduction	in	consumer	acceptance	of	our	products	and	potential	disruption	to	our	operations. – Set science based carbon reduction targets for our core business operations and our value chain – Carbon reduction plans for our production facilities, distribution and CDE – Supplier carbon footprint reduction programme launched in support of CCEP’s 2040 net zero ambition with focus on suppliers setting SBTi targets and using 100% renewable electricity by 2023 – Transition to 100% renewable electricity across our own operation – External policy leadership and advocacy to support a transition to a low-carbon economy – Life cycle analysis to assess carbon footprint of packaging formats – Use of recycled materials for our packaging, which have a lower carbon footprint – SVAs to protect future sustainability of local water sources and FAWVA and water management plans – Supplier engagement on carbon reduction and sustainable water use – Assessment on climate-related risks and future climate scenario planning – Comprehensive disclosure of GHG emissions across our value chain in line with GHG Protocol – Water scarcity simulation test and exercise of IMTs to ensure an appropriate response to water related incidents 8 Perceived health impact of our beverages and ingredients, and changing consumer buying trends We make and distribute products containing sugar and alternative sweeteners. Healthy lifestyle campaigns, increased media scrutiny and social media have led to an increasingly negative perception of these ingredients among consumers. This exposes us to the risk that we will be unable to evolve our product and packaging choices quickly enough to satisfy changes in consumer preferences. We will also face new pressure from the EU Commission with the Farm to Fork Strategy, at the heart of the European Green Deal, aiming to make food systems fair, healthy and environmentally friendly. As a result, we could experience sustained decline in sales volume,	which	could	impact	our	financial	results	and	business	performance. – Reducing the sugar content of our soft drinks, through product and pack innovation and reformulation managing our product mix to increase low and no calorie products – Making it easier for consumers to cut down on sugar by providing straightforward product information and smaller pack sizes – EU wide soft drink industry calorie reduction commitment with the Union of European Soft Drinks Associations (UNESDA) – Adopting calorie and sugar reduction commitments at country level – Dialogue with government representatives, NGOs, local communities and customers – Employee communication and education – Responsible sales and marketing codes – Proactive introduction of colour coded front of pack guideline daily amount labelling as a fact based and non-discriminatory way of informing consumers in an understandable way – Encourage the European Commission to evaluate and develop EU harmonised guidance for nutritional labelling, to address potential unfair targeting of the sparkling soft drinks industry – Work with International Sweeteners Association to promote and protect the reputation of alternative sweeteners and, through UNESDA, working with the European food safety authority on their opinions that will inform EU and national government action 9 Competitiveness, business transformation and integration We are continuing our strategy of continuous improvement, which should enable us to remain competitive in the future. This includes technology transformation, supporting home working, improvements in our supply chain and in the way we work with our partners and franchisors, and our Acquisition of CCL and subsequent integration activities. This exposes us to the risk of ineffective coordination between BUs and central functions, change fatigue among our people and social unrest. As a result, we may not create the expected value from these initiatives or execute our business plans effectively. We may also experience damage to our reputation, a decline in our share price, industrial action and disruption of operations. – Regular competitiveness reviews ensuring effective steering, high visibility and quick decision making – Dedicated	programme	management	office	and	effective	project	management	methodology – Continuation of strong governance routines – Regular ELT and Board reviews and approvals of progress and issue resolution – Analysis and review of acquisition related activities such as integration and business performance risk indicators and capital allocation risk reviews – Building a performant and resilient workforce with priority focus on health and safety and mental wellbeing initiatives especially in the front lines roles  SeePeopleandwellbeingprincipalriskforfurtherdetailsonpages 200–201 Principal risks CONTINUED 46 Governance and Directors’ Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FStrategic Report

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Principal risk Definition and impact Key mitigation Change Link to strategy 10 People and wellbeing The advent of the COVID-19 pandemic is likely to result in a higher degree of mental health issues and higher absence rates for employees. There is growing awareness of stress related illness due to more demand and responsibility on employees, especially where restructuring takes place, which exposes us to the risk of long-term absence and a loss of production. Our response to these topics, the change in working conditions and the upcoming importance of “future of work” and	“working	flexibly”	will	affect	the	perception	of	CCEP	as	an	employer	and	our	ability	to	attract,	retain	and	 motivate existing and future employees. This exposes us to the risk of not having the right talent with the required technical skillset. As a result, we could fail to achieve our strategic objectives and could experience a decline in employee engagement, industrial action, suffer from reputational damage or litigation. – CCEP CoC – CCEP wide wellbeing network – Regular communication – External	EAP	support	and	internal	wellbeing	(mental	health)	first	aiders – Flexible working – Working from home – Safety measures – Appropriate incentivisation – Talent reviews – Tools for employees to take ownership of careers – People related training and reskilling, risk assessments, action plans and compliance – Manager and employee wellbeing training – Wellbeing material available to managers and employees via CCEP platforms to support our employees – Human Rights Policy 11 Relationships with TCCC and other franchisors We conduct our business primarily under agreements with TCCC and other franchisors. This exposes us to the risk of misaligned incentives or strategy, particularly during periods of low category growth or crisis, such as COVID-19. As a result, TCCC or other franchisors could act adversely to our interests with respect to our business relationship. – Clear agreements govern the relationships – Incidence pricing agreement with TCCC – Aligned long range planning and annual business planning processes – Ongoing pan-European and local routines between CCEP and franchise partners – Increased frequency of meetings and maintenance of positive relationships at all levels – Regular contact and best practice sharing across the Coca-Cola system – Improve visibility and ways of working with TCCC 12 Product quality We produce a wide range of products, all of which must adhere to strict food safety requirements. This exposes us to the risk of failing to meet, or being perceived as failing to meet, the necessary standards, which could lead to compromised product quality. As a result, our brand reputation could be damaged and our products could become less popular with consumers. – TCCC standards and audits – Hygiene regimes at production facilities – Total quality management programme – Robust management systems – ISO	certification – Internal governance audits – Quality monitoring programme – Customer and consumer monitoring and feedback – Incident management and crisis resolution – Every CCEP production facility has: – a hazard analysis critical control points assessment and mitigation plan in place – a quality monitoring plan based on risk and requirements – a food fraud vulnerability assessment and mitigation plan based on risk and requirements – a food defense threat assessment and mitigation plan based on risk and requirements Internal control procedures and risk management CCEP’s internal controls are designed to manage rather than eliminate risk, and aim to provide good but not absolute assurance against misstatement. The Board has overall responsibility for the Company’s system of internal controls and for reviewing its adequacy and effectiveness. To discharge its responsibility in a manner that complies with law and regulation and promotes effective	and	efficient	operation,	the	Board	has	established	clear	operating	procedures,	lines	of	responsibility	and	 delegated authority. The	Audit	Committee	has	specific	responsibility	for	reviewing	the	internal	control	policies	and	procedures	associated	 with	the	identification,	assessment	and	reporting	of	risks	to	check	they	are	adequate	and	effective. Our internal control processes include: – Board	approval	for	significant	projects,	transaction	and	corporate	actions – Either senior management or Board approval for all major expenditure at the appropriate stages of each transaction – Regular	reporting	covering	both	technical	progress	and	our	financial	affairs – Board	review,	identification,	evaluation	and	management	of	significant	risks  Readmoreaboutourapproachtointernalcontrol andriskmanagementintheauditcommitteereport on pages 86–91 Principal risks CONTINUED 47 Governance and Directors’ Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FStrategic Report

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Viability statement The assessment considered the Group’s prospects related	to	revenue,	operating	profit,	EBITDA	and	free	 cash	flow.	The	Directors	considered	the	maturity	dates	 for the Group’s debt obligations and its access to public and private debt markets, including its committed multi currency credit facility. The Directors also carried out a robust review and analysis of the principal risks facing the Group, including those risks that could materially and adversely affect the Group’s business model, future performance, solvency and liquidity. Stress testing was performed on a number of scenarios, including different estimates for operating income and free	cash	flow.	Among	other	considerations,	these	 scenarios incorporated the potential downside impact of the Group’s principal risks, including those related to: – Continued or new COVID-19 related restrictions and the impact on the AFH channel – Legal and regulatory intervention, including in relation to plastic packaging – Risk of cyber and social engineering attacks – Adverse changes in relationships with large customers – Severe weather events In accordance with provision 31 of the 2018 UK Corporate Governance Code (the UKCGC), the Directors have assessed the prospects for the Group. The Directors have made this assessment over a period of three years, which corresponds to the Group’s planning cycle. Based	on	the	Group’s	current	financial	position,	stable	 cash generation and access to liquidity, the Directors concluded that the Group is well positioned to manage principal risks and potential downside impacts of such risks materialising, to ensure solvency and liquidity over the assessment period. From a qualitative perspective, the Directors also took into consideration the Group’s past experience of managing through adverse conditions and the Group’s strong relationship and position within the Coca-Cola system. The Directors considered the extreme measures the Group could take in the event of a crisis, including decreasing or stopping non-essential capital investment, decreasing or stopping shareholder dividends, renegotiating commercial terms with customers and suppliers or selling non-essential assets. Based upon the assessment performed, the Directors confirm	that	they	have	a	reasonable	expectation	the	 Group will be able to continue in operation and meet all liabilities as they fall due over the three year period covered by this assessment. 48 Governance and Directors’ Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FStrategic Report

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This	Integrated	Report	contains	a	combination	of	financial	and	 non-financial	reporting	throughout.	As	required	by	sections	414CA	 and 414CB of the Companies Act 2006 (the Companies Act), the following	non-financial	information	can	be	found	in	the	pages	of	 this Strategic Report stated in the table below. These pages contain, where appropriate, details of our policies and approach to each matter. Non-financial information Page(s) Environmental matters Action on climate on pages 23–26, Action on packaging on pages 27–28 and Action on water on pages 33–34 Employee matters Our stakeholders on pages 12–14 and Our people on pages 37–39 Social matters Action on society on pages 29–30 Human rights Operating with integrity on page 41 Anti-corruption and anti-bribery matters Operating with integrity on pages 40–41 Our business model What we do and how we do it on page 9 Risk and principal risks Principal risks on pages 42–47 and Risk factors on pages 195–202 Non-financial	performance	indicators Performance indicators on page 3 Non-financial information statement Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-F49 Governance and Directors’ Report Financial Statements Other InformationStrategic Report

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Business and financial review Our business CCEP	is	a	leading	consumer	goods	group	in	Western	Europe	and	the	Asia	Pacific	region,	making,	selling	and	distributing	 an extensive range of primarily non-alcoholic ready to drink beverages. We make, move and sell some of the world’s most loved brands – serving 600 million consumers and helping 1.75 million customers across 29 countries grow. We combine the strength and scale of a large, multi-national business with an expert, local knowledge of the customers we serve and communities we support. On 10 May 2021, Coca-Cola European Partners plc (Legacy CCEP) acquired Coca-Cola Amatil Limited (referred to as CCL	pre	acquisition,	and	API	post	acquisition),	and	subsequently	changed	its	name	to	Coca-Cola	Europacific	Partners	 plc (the Company, or Parent Company). CCL was one of the largest bottlers and distributors of ready to drink non- alcoholic	and	alcoholic	beverages	and	coffee	in	the	Asia	Pacific	region	and	was	the	authorised	bottler	and	distributor	 of	The	Coca-Cola	Company’s	(TCCC)	beverage	brands	in	Australia,	New	Zealand	and	Pacific	Islands,	Indonesia	 and Papua New Guinea. In November 2020, CCEP and CCL entered into a binding Scheme Implementation Deed (the Scheme) for the acquisition of 69.2% of the entire existing issued share capital of CCL, which was held by shareholders other than TCCC. CCEP also entered into a Co-operation and Sale Deed with TCCC with respect to the acquisition of TCCC’s 30.8% interest in CCL (the Co-operation agreement), conditional upon the implementation of the Scheme.	During	the	first	half	of	2021,	the	Company	acquired	100%	of	the	issued	and	outstanding	shares	of	CCL. Shareholders other than TCCC received A$13.32 per share in cash, totalling cash consideration paid of A$6,673 million. TCCC received A$9.39 and A$10.57 per share for 10.8% and 20%, respectively, of the remaining CCL shares held by TCCC. Cash consideration paid to TCCC was A$893 million and USD1,046 million. The fair value of the consideration transferred at the acquisition date was €5,752 million. The Acquisition has allowed us to bring together two great companies. In doing so, we’ll be able to go further and faster in pursuing our shared vision for growth, through our consumer led portfolio, collaborative customer relationships and innovation to meet changing consumer needs. Note regarding the presentation of pro forma financial information and alternative performance measures Pro forma financial information Pro	forma	financial	information	has	been	provided	in	order	to	illustrate	the	effects	of	the	acquisition	of	Coca-Cola	Amatil	 Limited (referred to as CCL pre acquisition, API post acquisition) on the results of operations of CCEP and allow for greater	comparability	of	the	results	of	the	combined	group	between	periods.	The	pro	forma	financial	information	has	been	 prepared for illustrative purposes only and because of its nature, addresses a hypothetical situation. It is based on information and assumptions that CCEP believes are reasonable, including assumptions as at 1 January 2021 and 1 January 2020 relating to acquisition accounting provisional fair values of API assets and liabilities which are assumed to	be	equivalent	to	those	that	have	been	provisionally	determined	as	of	the	acquisition	date	and	included	in	the	financial	 statements for the year ended 31 December 2021, on a constant currency basis. The pro forma information also assumes	the	interest	impact	of	additional	debt	financing	reflecting	the	actual	weighted	average	interest	rate	for	acquisition	 financing	of	c.0.40%	for	all	periods	presented.	Acquisition	costs	included	in	2020	pro	forma	financial	information	are	 assumed to be equivalent to those incurred in 2021. The	pro	forma	financial	information	does	not	intend	to	represent	what	CCEP’s	results	of	operations	actually	would	have	 been if the acquisition had been completed on the dates indicated, nor does it intend to represent, predict or estimate the results	of	operations	for	any	future	period	or	financial	position	at	any	future	date.	In	addition,	it	does	not	reflect	ongoing	 cost savings that CCEP expects to achieve as a result of the acquisition or the costs necessary to achieve these cost savings or synergies. As pro forma information is prepared to illustrate retrospectively the effects of future transactions, there are limitations that are inherent to the nature of pro forma information. As such, had the acquisition taken place on the dates assumed, the actual effects would not necessarily have been the same as those presented in the pro forma financial	information	contained	herein. Alternative performance measures We	use	certain	alternative	performance	measures	(non-GAAP	performance	measures)	to	make	financial,	operating	and	 planning decisions and to evaluate and report performance. We believe these measures provide useful information to investors	and	as	such,	where	clearly	identified,	we	have	included	certain	alternative	performance	measures	in	this	 document to allow investors to better analyse our business performance and allow for greater comparability. To do so, we	have	excluded	items	affecting	the	comparability	of	period-over-period	financial	performance	as	described	below.	 The alternative performance measures included herein should be read in conjunction with and do not replace the directly reconcilable GAAP measures. For	purposes	of	this	document,	the	following	terms	are	defined: ‘As reported’	are	results	extracted	from	our	consolidated	financial	statements. ‘Pro forma’ includes the results of CCEP and API as if the Acquisition had occurred at the beginning of the period presented, including acquisition accounting adjustments relating to provisional fair values. Pro forma also includes impact of	the	additional	debt	financing	costs	incurred	by	CCEP	in	connection	with	the	Acquisition	for	all	periods	presented. ‘Comparable’	is	defined	as	results	excluding	items	impacting	comparability,	which	include	restructuring	charges,	 acquisition and integration related costs, inventory fair value step up related to acquisition accounting, the impact of the closure	of	the	GB	defined	benefit	pension	scheme,	net	costs	related	to	European	flooding	and	net	tax	items	relating	to	 rate and law changes. Comparable volume is also adjusted for selling days. ‘Pro forma comparable’	is	defined	as	the	pro	forma	results	excluding	items	impacting	comparability,	as	described	above.	 ‘Fx neutral’	is	defined	as	period	results	excluding	the	impact	of	foreign	exchange	rate	changes.	Foreign	exchange	impact	 is calculated by recasting current year results at prior year exchange rates. ‘Capex’ or ‘Capital expenditures’	is	defined	as	purchases	of	property,	plant	and	equipment	and	capitalised	software,	 plus payments of principal on lease obligations, less proceeds from disposals of property, plant and equipment. Capex is used as a measure to ensure that cash spending on capital investment is in line with the Group’s overall strategy for the use of cash. ‘Free cash flow’	is	defined	as	net	cash	flows	from	operating	activities	less	capital	expenditures	(as	defined	above)	and	 interest	paid.	Free	cash	flow	is	used	as	a	measure	of	the	Group’s	cash	generation	from	operating	activities,	taking	into	 account	investments	in	property,	plant	and	equipment	and	non-discretionary	lease	and	interest	payments.	Free	cash	flow	 is	not	intended	to	represent	residual	cash	flow	available	for	discretionary	expenditures. Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-F50 Governance and Directors’ Report Financial Statements Other InformationStrategic Report

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Business and financial review CONTINUED ‘Adjusted EBITDA’ is calculated as Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA), after adding back	items	impacting	the	comparability	of	period	over	period	financial	performance.	Adjusted	EBITDA	does	not	reflect	 cash expenditures, or future requirements for capital expenditures or contractual commitments. Further, adjusted EBITDA does	not	reflect	changes	in,	or	cash	requirements	for,	working	capital	needs,	and	although	depreciation	and	amortisation	 are non-cash charges, the assets being depreciated and amortised are likely to be replaced in the future and adjusted EBITDA	does	not	reflect	cash	requirements	for	such	replacements.	 ‘Net Debt’	is	defined	as	the	net	of	cash	and	cash	equivalents	and	short-term	investments	less	borrowings	and	adjusted	 for	the	fair	value	of	hedging	instruments	related	to	borrowings	and	other	financial	assets/liabilities	related	to	borrowings.	 We	believe	that	reporting	net	debt	is	useful	as	it	reflects	a	metric	used	by	the	Group	to	assess	cash	management	and	 leverage. In addition, the ratio of net debt to adjusted EBITDA is used by investors, analysts and credit rating agencies to	analyse	our	operating	performance	in	the	context	of	targeted	financial	leverage. ‘ROIC’ or ‘Return on invested capital’	is	defined	as	comparable	operating	profit	after	tax	attributable	to	shareholders	 divided by the average of opening and closing invested capital for the year. Invested capital is calculated as the addition of borrowings and equity attributable to shareholders less cash and cash equivalents and short-term investments. ROIC is	used	as	a	measure	of	capital	efficiency	and	reflects	how	well	the	Group	generates	comparable	operating	profit	relative	 to the capital invested in the business. ‘Dividend payout ratio’	is	defined	as	dividends	as	a	proportion	of	comparable	profit	after	tax. Unless otherwise stated, percent amounts are rounded to the nearest 0.5%. Key financial measures(A) Reported to Pro forma comparable Unaudited, Fx impact calculated by recasting current year results at prior year rates Year ended 31 December 2021 € millions % change vs prior year As reported Pro forma comparable Pro forma Fx impact As reported Pro forma comparable Pro forma Fx impact Pro forma comparable Fx neutral Revenue 13,763 14,819 240 30% 9.5% 2.0% 7.5% Cost of sales 8,677 9,222 149 26.5% 8.0% 2.0% 6.0% Operating expenses 3,570 3,711 54 22.0% 6.0% 1.5% 4.5% Operating	profit 1,516 1,886 37 86.5% 26.0% 2.5% 23.5% Profit	after	taxes 988 1,369 27 98.5% 36.0% 2.5% 33.5% (A)	See	Supplementary	financial	information	–	Income	Statement	section	for	reconciliation	of	reported	to	comparable	and	reported	to	pro	forma	comparable	results. Financial highlights During	2021,	we	successfully	acquired	Coca-Cola	Amatil,	while	delivering	our	growth	objectives	for	revenue,	profit,	and	 diluted earnings per share. As we worked to integrate our business in 2021, solid top line recovery, value share gains, operating	margin	expansion	and	strong	free	cash	flow	generation	demonstrated	the	resilience	of	our	business	in	a	 challenging environment. These results were driven by our focus on core brands, in-market execution and effective revenue growth management initiatives. Additionally, 2021 was marked by a strong recovery following the impact of the	pandemic	on	our	business	in	2020.	We	grew	volume	and	revenue	per	unit	case,	benefitted	from	ongoing	efficiency	 programmes and continued to focus efforts on discretionary spend optimisation, successfully offsetting higher concentrate	costs,	commodity	inflation	and	adverse	cost	of	sales	mix.	This	enabled	us	to	continue	to	return	cash	to	 shareholders,	as	demonstrated	by	the	dividend	paid	in	December.	The	net	impact	of	the	Acquisition	on	our	key	financial	 measures can be summarised as follows: – Reported revenue totalled €13.8 billion, up 30.0% on a reported basis and 7.5% on a pro forma comparable and Fx neutral basis – Volume increased 23.0% on a reported basis. Pro forma comparable volume increased 4.5% and pro forma comparable and Fx neutral revenue per unit case increased 3.0% – Reported	operating	profit	was	€1.5	billion,	up	86.5%.	Pro	forma	comparable	operating	profit	was	€1.9	billion,	 up 26.0%, or up 23.5% on a pro forma comparable and Fx neutral basis – Reported diluted earnings per share were €2.15 or €2.83, up 57%, on a comparable basis(A) – Net	cash	flows	from	operating	activities	were	€2.1	billion.	Full	year	free	cash	flow(B) was €1.5 billion (A)	See	Supplementary	financial	information	–	Income	Statement	section	for	reconciliation	of	reported	to	comparable	results. (B)	See	Liquidity	and	capital	management	section	for	a	reconciliation	between	net	cash	flows	from	operating	activities	and	free	cash	flow. Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-F51 Governance and Directors’ Report Financial Statements Other InformationStrategic Report

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Business and financial review CONTINUED Operational review Revenue Revenue totalled €13.8 billion, up 30% versus prior year on a reported basis, and 28.0% on an Fx neutral basis, driven by the inclusion of API in 2021. Pro forma comparable revenue was €14.8 billion, up 9.5% vs prior year, or up 7.5% on a pro forma comparable and Fx neutral basis. Revenue per unit case increased by 3.0% in 2021, on a pro forma comparable and Fx neutral basis. Volume increased 4.5% on a pro forma comparable basis. Revenue(A) In millions of € Year ended 31 December 2021 As reported Pro forma comparable Reported % change Fx neutral % change Pro forma comparable % change Pro forma Fx neutral % change Revenue 11,584 11,584 9.0% 8.0% 9.0% 8.0% API 2,179 3,235 n/a n/a 10.5% 7.0% Total CCEP 13,763 14,819 30.0% 28.0% 9.5% 7.5% (A)	See	Supplementary	financial	information	–	Income	Statement	section	for	reconciliation	of	reported	to	comparable	and	reported	to	pro	forma	comparable	results. Comparable volume – selling day shift In millions of unit cases, prior period volume recast using current year selling days(A) Year ended 31 December 2021 31 December 2020 % change Volume 2,804 2,277 23% Impact of selling day shift n/a (7) n/a Comparable volume – selling day shift adjusted 2,804 2,270 23.5% Pro forma impact API 215 616 n/a Pro forma comparable volume 3,019 2,886 4.5% (A) A unit case equals approximately 5.678 litres or 24 eight ounce servings, a typical volume measure used in our industry. Volumes were up 23.0% on a reported basis and 23.5% on a comparable basis, driven by the inclusion of API in 2021. Pro	forma	comparable	volume	was	up	4.5%	versus	2020.	This	reflects	the	reopening	of	the	away	from	home	channel	 and	increased	consumer	mobility	given	the	easing	of	restrictions	across	most	of	our	markets.	The	most	significant	impact	 was in the away from home channel where pro forma comparable volumes increased by 10.0% compared to 2020. We experienced	improvement	in	volumes	reflecting	fewer	restrictions	and	the	recovery	of	immediate	consumption	packages,	 although the Omicron variant slowed the recovery during the fourth quarter of 2021 with restrictions reintroduced in some markets. Trading in the home channel was stable throughout the year with full year pro forma comparable volume growth of 1.5%, driven by growth in the online channel as well our continued revenue growth management initiatives. From a package perspective, immediate consumption grew across both channels in Europe with volumes up 17.0%. The volume of future consumption packs such as large PET and multipack cans grew during the year, particularly in the home channel. Year ended Pro forma comparable volume by category 31 December 2021 % of total 31 December 2020 % of total % change Sparkling 84.5% 84.5% 4.5% Coca-Cola™ 59.0% 60.0% 3.5% Flavours, mixers and energy 25.5% 24.5% 7.0% Stills 15.5% 15.5% 5.0% Hydration 7.5% 8.0% – RTD tea, RTD coffee, juices and other(A) 8.0% 7.5% 10.0% Total 100.0% 100.0% 4.5% (A) RTD refers to Ready to Drink; Other includes Alcohol and Coffee. On a brand category basis in 2021, Coca-Cola trademark volume increased by 3.5% versus 2020 on a pro forma comparable	basis.	This	increase	reflected	the	growth	in	Coca-Cola	Original	Taste	and	Lights	driven	by	the	continued	 rebound of the away from home channel and strong performance of Coca-Cola Zero Sugar, with volumes ahead of both 2020 (up 8.5%) and 2019 (up 11.5%) supported by our new look, new taste launch. Flavours, mixers and energy volume increased by 7.0% versus 2020 on a pro forma comparable basis. Energy volumes were	up	21.5%	versus	2020,	or	35.5%	versus	2019,	reflecting	solid	distribution	in	both	channels	and	strong	innovation.	 Schweppes Mixers volume increased by 1.5% versus 2019. Fanta grew volume driven by the continued rebound of the away from home channel. Hydration	volume	was	flat	versus	2020	on	a	pro	forma	comparable	basis.	This	reflects	the	delisting	of	some	PET	waters	 in Germany, offset by the growth of Sports category brands in API. RTD teas, RTD coffees, juices and other drinks volume increased by 10.0% versus 2020 on a pro forma comparable basis.	Juice	drinks	grew	volume	reflecting	the	continued	rebound	of	the	away	from	home	channel.	Capri-Sun	volume	 increased	by	16.5%	versus	2019,	reflecting	solid	growth	in	France	and	Great	Britain.	Fuze	Tea	volumes	were	up	9.5%	 versus 2019 and the brand continues to grow value share in Europe. Alcohol delivered strong growth in Australia driven by spirits and ready to drink beverages, with volumes up 5.0% versus 2019. Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-F52 Governance and Directors’ Report Financial Statements Other InformationStrategic Report

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Business and financial review CONTINUED Revenue by segment: Europe Revenue Europe In millions of €, except per case data which is calculated prior to rounding. Fx impact calculated by recasting current year results at prior year rates Year ended 31 December 2021 31 December 2020 % change As reported 11,584 10,606 9.0% Adjust: Impact of Fx charges (132) n/a – Fx neutral 11,452 10,606 8.0% Revenue per unit case 4.81 4.66 3.5% Revenue in Europe totalled €11.6 billion, up 9.0% versus prior year on a reported basis, and 8.0% on an Fx neutral basis. Revenue	per	unit	case	in	Europe	increased	by	3.5%	in	2021,	on	a	comparable	and	Fx	neutral	basis,	reflecting	positive	 package and channel mix driven by the improvement in away from home volume and growth in immediate consumptions packages, alongside favourable price and brand mix. Revenue by geography In millions of € Year ended 31 December 2021 As reported Reported % change Fx neutral % change Great Britain 2,613 18.5% 14.0% Germany 2,335 3.0% 3.0% Iberia(A) 2,495 15.0% 15.0% France(B) 1,813 6.0% 6.0% Belgium/Luxembourg 926 4.0% 4.0% Netherlands 557 5.5% 5.5% Norway 391 (7.5)% (12.5)% Sweden 375 11.5% 7.5% Iceland 79 13.0% 10.0% Total Europe 11,584 9.0% 8.0% (A) Iberia refers to Spain, Portugal and Andorra. (B) France refers to continental France and Monaco. Reported revenue in Great Britain was up 18.5% versus 2020. Foreign exchange translation positively impacted revenue growth by 4.5%. The additional increase in revenue was mainly driven by the continued recovery of the away from home channel, as well as increased domestic tourism and cycling soft comparables. The home channel showed solid performance versus 2020. Coca-Cola trademark, Fanta and Monster grew volumes ahead of 2019. Additionally, revenue per case growth was driven by favorable underlying price, alongside positive mix led by the growth in immediate consumption packages, including growth of 39.5% in small glass and 25.0% small PET. Reported revenue in Germany was up 3.0% versus 2020. Volume was impacted mainly by adverse weather in the third quarter and varying levels of restrictions within HoReCa(A) throughout the year, slowing the overall recovery of the away from home channel. The home channel saw continued growth versus prior year. Coca-Cola Zero Sugar and Fuze Tea grew volume, both above 2019 levels. Additionally, revenue per case growth was driven by positive brand mix from Monster and the delisting of some PET waters, as well as favourable underlying price and positive package mix. On a territory basis in 2021, reported revenue in Iberia was up 15.0% versus 2020. This was mainly driven by an increase in volume due to fewer restrictions and the cycling of soft comparables. Performance saw a strong rebound in the away from home channel, although the Omicron variant slowed the recovery in the fourth quarter as restrictions in HoReCa(A) were reintroduced. This volume increase was partly offset by lower international tourism and an increase of the Spanish VAT rate within the home channel. Coca-Cola Zero Sugar and Monster grew volume, both above 2019 levels. Additionally, revenue per case growth was positively impacted by package and channel mix given the ongoing recovery of the away from home channel in addition to favourable underlying price. Reported revenue in France was up 6.0% versus 2020. This was mainly driven by an increase in volume due to fewer restrictions and the cycling of soft comparables. The away from home channel recorded a strong rebound, and the home channel showed a continued volume increase led by the growth in immediate consumption packages. Coca-Cola Zero Sugar and Monster continued to grow volume, both above 2019 levels. Additionally, revenue per case growth was supported by positive customer and package mix led by the recovery of the away from home channel as well as increased consumer mobility, including growth of 14.5% in small glass and 22.0% small PET. Reported revenue in the Northern European territories (Belgium, Luxembourg, the Netherlands, Norway, Sweden and Iceland) was up 3.5% versus 2020. Foreign exchange translation positively impacted revenue growth by 1.5%. The additional increase in revenue was mainly driven by fewer restrictions in the away from home channel in the fourth quarter,	partially	offset	by	adverse	weather	in	the	third	quarter,	including	the	impact	of	flooding	in	Belgium	in	July.	 Coca-Cola Zero Sugar, Monster and Capri-Sun grew volume above 2019 levels. Additionally, revenue per case declined as a result of changes to Norwegian soft drink taxes, offsetting positive package and brand mix, alongside favourable underlying price. (A) HoReCa = hotels, restaurants and cafes. Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-F53 Governance and Directors’ Report Financial Statements Other InformationStrategic Report

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Business and financial review CONTINUED Revenue by segment: API Pro forma revenue API(A) In millions of €, except per case data which is calculated prior to rounding. Fx impact calculated by recasting current year results at prior year rates Year ended 31 December 2021 31 December 2020 % change As reported and comparable 2,179 – n/a Ads: Pro forma adjustments API 1,056 2,929 – Pro forma comparable 3,235 2,929 10.5% Adjust: Impact of Fx changes (108) n/a – Pro forma comparable and Fx neutral 3,127 2,929 7.0% Pro forma revenue per unit case 4.88 4.74 3.0% (A)	See	Supplementary	financial	information	–	Income	Statement	section	for	reconciliation	of	reported	to	comparable	and	reported	to	pro	forma	comparable	results. Revenue in API totalled €2.2 billion on a reported basis. Pro forma comparable revenue was €3.2 billion, up 10.5% vs prior year, or up 7.0% on a pro forma comparable and Fx neutral basis. Revenue per unit case increased by 3.0% in 2021, on a pro forma comparable and Fx neutral basis. Volume increased 4.0% on a pro forma comparable basis driven by the reopening of the away from home channel and increased consumer mobility given the easing of restrictions across most of our API markets. Pro forma revenue by geography(A) In millions of € Full year ended 31 December 2021 Reported Pro forma comparable Pro forma comparable % change Pro forma Fx neutral % change Australia 1,359 2,028 11.0% 5.5% New	Zealand	and	Pacific	Islands 377 555 12.5% 7.5% Indonesia and Papua New Guinea 443 652 7.5% 10.0% Total API 2,179 3,235 10.5% 7.0% (A)	See	Supplementary	financial	information	–	Income	Statement	section	for	reconciliation	of	reported	to	comparable	and	reported	to	pro	forma	comparable	results. Revenue	in	the	Australia,	Pacific	and	Indonesian	territories	(Australia,	New	Zealand	and	Pacific	Islands,	Indonesia	and	 Papua New Guinea) was up 10.5% versus 2020 on a pro forma comparable basis. Foreign exchange translation positively impacted revenue growth by 3.5%. The additional increase in revenue was mainly driven by the continued recovery of the away from home channel in all markets and solid performance in the home channel. Coca-Cola No Sugar grew volume in Australia. Monster continued to grow in all markets. Additionally, revenue per case increased on a pro forma comparable and Fx neutral basis, as a result of positive package and brand mix, lower promotions in Australia and underlying favourable price. Cost of sales Reported cost of sales totalled €8.7 billion, up 26.5% versus prior year on a reported basis, and 24.5% on a comparable Fx neutral basis, driven by the inclusion of API in 2021. Pro forma comparable cost of sales was €9.2 billion, up 8.0% vs prior year, or up 6.0% on a pro forma comparable and Fx neutral basis driven in part by volume growth. Cost of sales per unit case increased by 1.5% on a pro forma comparable and Fx neutral basis. Pro forma Cost of sales(A) In millions of €, except per case data which is calculated prior to rounding. Fx impact calculated by recasting current year results at prior year rates Year ended 31 December 2021 31 December 2020 % change As reported 8,677 6,871 26.5% Add: Pro forma adjustments API 616 1,737 Adjust: Transaction accounting adjustments – 57 n/a Adjust: Total items impacting comparability (71) (118) Pro forma comparable 9,222 8,547 8.0% Adjust: Impact of Fx changes (149) n/a n/a Pro forma comparable and Fx neutral 9,073 8,547 6.0% Cost of sales per unit case 3.00 2.95 1.5% (A)	See	Supplementary	financial	information	–	Income	Statement	section	for	reconciliation	of	reported	to	comparable	and	reported	to	pro	forma	comparable	results. Cost of sales in Europe increased in part due to higher volume, which grew 5.0% versus 2020 on a comparable basis. Cost	of	sales	per	unit	case	increased	as	well,	reflecting	increased	revenue	per	unit	case	driving	higher	concentrate	costs.	 Commodities have been adverse driven by higher aluminium and PET prices, though solid hedge coverage throughout the year provided protection from some of the market volatility. Mix was adverse driven mainly by strong volume growth in	energy	and	cans,	partially	offset	by	the	favourable	recovery	of	fixed	manufacturing	costs	given	higher	volumes. Cost	of	sales	in	API	also	increased	reflecting	higher	volume,	which	grew	4.0%	versus	2020	on	a	pro	forma	comparable	 basis. Operating leverage as well as continued efforts in managing production and logistics costs, offsetting increased labour and fuel costs, resulted in a cost per unit case improvement vs 2020. Throughout the year, efforts were made to navigate	significant	global	supply	chain	disruptions,	which	resulted	in	shipping	delays,	pallet	shortages	and	upward	 pressure on freight costs. Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-F54 Governance and Directors’ Report Financial Statements Other InformationStrategic Report

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Operating expenses Reported operating expenses totalled €3.6 billion, up 22.0% versus prior year on a reported basis, and 28.5% on a comparable and Fx neutral basis, driven by the inclusion of API in 2021. Pro forma comparable operating expenses were €3.7 billion, up 6.0% vs prior year, or up 4.5% on a pro forma comparable and Fx neutral basis. Pro forma Operating expenses(A) In millions of €. Fx impact calculated by recasting current year results at prior year rates Year ended 31 December 2021 31 December 2020 % change As reported 3,570 2,922 22.0% Add: Pro forma adjustments API 323 1,022 Adjust: Transaction accounting adjustments 68 130 n/a Adjust: Total items impacting comparability (250) (581) Pro forma comparable 3,711 3,493 6.0% Adjust: Impact of Fx changes (54) n/a n/a Pro forma comparable and Fx neutral 3,657 3,493 4.5% (A)	See	Supplementary	financial	information	–	Income	Statement	section	for	reconciliation	of	reported	to	comparable	and	reported	to	pro	forma	comparable	results. Approximately one third of operating expenses are variable in nature. Comparable operating expenses in Europe increased	as	volumes	grew,	reflecting	the	reopening	of	the	away	from	home	channel	and	increased	consumer	mobility	 given the easing of restrictions. To support our customers and the pandemic recovery, we made focused investments in	trade	marketing	expenses	(TME).	Our	business	also	experienced	upward	inflationary	pressures	in	areas	such	as	 labour and haulage. Continuing	efforts	on	discretionary	spend	optimisation	and	progressing	our	previously	announced	efficiency	programme	 helped	to	protect	operating	profit. Pro	forma	comparable	operating	expenses	in	API	reflected	higher	volumes,	partially	offset	by	the	benefit	of	ongoing	 efficiency	programmes	and	combination	benefits.	Continuing	efforts	on	discretionary	spend	optimisation	in	areas	such	 as trade marketing, travel and meetings as well as labour cost management further contributed to mitigating the increase in our cost base. Restructuring and Acquisition related costs Restructuring charges of €17 million and €136 million were recognised within reported cost of sales and reported operating expenses, respectively, for the year ended 31 December 2021 related principally to the continuation of the Accelerate Competitiveness programme announced in October 2020. This programme relates to initiatives across Europe aimed at improving productivity through the use of technology enabled solutions. Restructuring charges in 2021 include €51 million of severance costs related to productivity initiatives within the commercial organisation in Iberia. Restructuring charges of €62 million and €306 million were recognised within reported cost of sales and reported operating expenses for the year ended 31 December 2020, the majority of which also relate to severance and accelerated depreciation in connection with the Accelerate Competitiveness programme. Charges included costs associated	with	closure	of	production	sites	in	Germany	and	Iberia	as	well	as	the	closure	of	five	distribution	centres	 and changes in the commercial organisation in Germany. Acquisition and integration related costs of €49 million and €4 million were recognised within reported operating expenses	and	finance	costs,	respectively,	for	the	year	ended	31	December	2021	associated	with	the	acquisition	of	CCL.	 This compares to €14 million of total acquisition related costs recognised during the year ended 31 December 2020. Effective tax rate The reported effective tax rate was 29% and 28% for the years ended 31 December 2021 and 31 December 2020, respectively. For the year ended 31 December 2021, the effective tax rate included a €127 million impact related to the revaluation of deferred taxes due to enacted increases in the UK statutory income tax rate from 19% to 25% effective from 1 April 2023, the Netherlands statutory income tax rate from 25% to 25.8% effective from 1 January 2022 and an enacted law change in Indonesia which held its statutory income tax rate at 22% from 1 January 2022, reversing the previously enacted reduction from 22% to 20%. The comparable effective tax rate was 21% and 24% for the years ended 31 December 2021 and 31 December 2020, respectively. Business and financial review CONTINUED Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-F55 Governance and Directors’ Report Financial Statements Other InformationStrategic Report

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Return on invested capital ROIC	is	used	as	a	measure	of	capital	efficiency	and	reflects	how	well	the	Group	generates	comparable	operating	profit	 relative to the capital invested in the business. For the year ended 31 December 2021, reported ROIC increased by 160 basis	points,	to	9.2%,	due	to	the	inclusion	of	API	comparable	operating	profit	from	the	acquisition	date.	On	a	pro	forma	 basis,	which	adjusts	both	invested	capital	and	comparable	operating	profit	to	reflect	the	acquisition	date	as	at	1	January	 2021, ROIC increased by 40 basis points, to 8.0%, versus prior year. ROIC In millions of € Year ended 31 December 2021 Pro forma(c) 31 December 2021 31 December 2020 Comparable operating profit(A) 1,886 1,772 1,194 Taxes(B) (399) (367) (286) Non-controlling interest (12) (8) – Comparable operating profit after tax attributable to shareholders 1,475 1,397 908 Opening borrowings less cash and cash equivalents and short term investments(C) 12,498 5,664 6,105 Opening equity attributable to shareholders(C) 5,911 6,025 6,156 Opening invested capital 18,409 11,689 12,261 Closing borrowings less cash and cash equivalents and short term investments 11,675 11,675 5,664 Closing equity attributable to shareholders 7,033 7,033 6,025 Closing invested capital 18,708 18,708 11,689 Average invested capital 18,559 15,199 11,975 ROIC 8.0% 9.2% 7.6% (A)	Reconciliation	from	reported	operating	profit	to	comparable	operating	profit	and	to	pro	forma	comparable	operating	profit	is	included	in	the	Supplementary	 Financial Information – Income Statement section. (B) Tax rate used is the comparable effective tax rate for the year (2021 pro forma: 21%; 2021: 21%; 2020: 24%). (C)	In	light	of	the	CCL	acquisition	and	in	order	to	provide	investors	with	a	more	meaningful	measure	of	capital	efficiency	for	2021,	a	pro	forma	ROIC	measure	has	been	 presented. To derive this pro forma measure, opening borrowings, cash and cash equivalents, short term investments, and equity attributable to shareholders have	been	extracted	from	the	unaudited	pro	forma	condensed	combined	statement	of	financial	position	as	of	31	December	2020	prepared	in	connection	with	 proposed	financing	of	the	CCL	acquisition	and	furnished	on	Form	6-K	on	20	April	2021,	and	adjusted	for	any	associated	acquisition	accounting	fair	value	 adjustments in the period through to 31 December 2021. These adjustments include an increase in borrowings of €38 million and a decrease in equity attributable to shareholders of €18 million. Liquidity and capital management Liquidity Liquidity	risk	is	actively	managed	to	ensure	we	have	sufficient	funds	to	satisfy	our	commitments	as	they	fall	due.	Our	 sources	of	capital	include,	but	are	not	limited	to,	cash	flows	from	operating	activities,	public	and	private	issuances	of	 debt	securities	and	bank	borrowings.	We	believe	our	operating	cash	flow,	cash	on	hand	and	available	short-term	and	 long-term	capital	resources	are	sufficient	to	fund	our	working	capital	requirements,	scheduled	borrowing	payments,	 interest	payments,	capital	expenditures,	benefit	plan	contributions,	income	tax	obligations	and	dividends	to	shareholders.	 Counterparties and instruments used to hold cash and cash equivalents are continuously assessed, with a focus on preservation of capital and liquidity. During 2021, subsequent to the Acquisition, the amount available under the Group’s committed multi currency credit facility was increased from €1.5 billion to €1.95 billion. This amount is available for borrowing with a syndicate of 13 banks. This credit facility matures in 2025 and is for general corporate purposes and supporting the Group’s working capital needs.	Based	on	information	currently	available,	there	is	no	indication	that	the	financial	institutions	participating	in	this	 facility	would	be	unable	to	fulfil	their	commitments	to	the	Group	as	at	the	date	of	this	report.	The	Group’s	current	credit	 facility	contains	no	financial	covenants	that	would	impact	its	liquidity	or	access	to	capital.	As	at	31	December	2021,	the	 Group had no amounts drawn under this credit facility. Net	cash	flows	from	operating	activities	were	€2,117	million	in	2021,	an	increase	of	42.0%,	or	€627	million,	from	 €1,490	million	in	2020,	reflecting	the	inclusion	of	API	and	continued	recovery	from	COVID-19.	These	cash	flows	were	 primarily	generated	from	our	operations	and	included	restructuring	cash	outflows	of	€205	million.	 In 2021, we continued to monitor our investment in capital expenditure programmes, given continued uncertainty. Our 2021 capital spend, which includes API from the date of the acquisition, on property, plant and equipment and capitalised software as part of our business capability programme was €446 million, compared to €408 million in 2020. Free	cash	flow	generation	for	the	year	was	strong	totalling	€1,460	million,	a	significant	increase	relative	to	our	2020	total	 of €924 million following strong recovery from the impact of COVID-19 in 2020 and the inclusion of API. Free cash flow In millions of € Year ended 31 December 2021 31 December 2020 Net cash flows from operating activities 2,117 1,490 Less: Purchases of property, plant and equipment (349) (348) Less: Purchases of capitalised software (97) (60) Add: Proceeds from sales of property, plant and equipment 25 49 Less: Payments of principal on lease obligations (139) (116) Less: Interest paid, net (97) (91) Free cash flow 1,460 924 Business and financial review CONTINUED Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-F56 Governance and Directors’ Report Financial Statements Other InformationStrategic Report

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In 2021, total borrowings increased by €6 billion. This was driven by new issue proceeds of €4,877 million in connection with the Acquisition, API borrowings of €1,632 million assumed as part of the Acquisition and changes in short-term borrowings of €276 million. This was partially offset by repayments on third party borrowings of €950 million and payments on principal and interest lease obligations of €149 million. New issue proceeds include the following bonds: €800 million 0% Notes due 2025; €700 million 0.5% Notes due 2029; €1,000 million 0.875% Notes due 2033; €750 million 1.5% Notes due 2041; $850 million 0.5% Notes due 2023; $650 million 0.8% Notes due 2024 and $500 million 1.5% Notes due 2027, all issued in May 2021. Repayments of bonds include repayments prior to maturity in June 2021 of $300 million 4.5% Notes due September 2021 and $250 million 3.25% Notes due August 2021. The following bonds were also repaid on maturity during the year: €350 million Floating Rate Notes; A$100 million 4.63% Notes; A$45 million 6.65% Notes; JPY3 billion 2.54% Notes; A$100 million 4.25% Notes and A$30 million 5.95% Notes. Capital management The primary objective of our capital management strategy is to ensure strong ratings and to maintain appropriate capital ratios to support our business and maximise shareholder value. Our credit ratings are periodically reviewed by rating agencies. We regularly assess debt and equity capital levels against our stated policy for capital structure. Our capital structure	is	managed	and,	as	appropriate,	adjusted	in	light	of	changes	in	economic	conditions	and	our	financial	policy. CCEP paid net cash consideration of €5.4 billion to CCL shareholders and funded the Acquisition through a combination of new external borrowings and existing cash increasing our net debt to €11.6 billion as at 31 December 2021, versus €5.7	billion	as	at	December	2020.	Refer	to	Note	4	of	the	consolidated	financial	statements	for	further	information	 regarding the Acquisition. We do not expect this change in net debt to have a material negative impact on our liquidity or	capital	resources.	Liquidity	risk	is	actively	managed	to	ensure	we	have	sufficient	funds	to	satisfy	our	commitments	 as	they	fall	due.	Our	sources	of	capital	include,	but	are	not	limited	to,	cash	flows	from	operations,	public	and	private	 issuances	of	debt	securities	and	bank	borrowings.	We	believe	our	operating	cash	flow,	cash	on	hand	and	available	 short-term	and	long-term	capital	resources	are	sufficient	to	fund	our	working	capital	requirements,	scheduled	borrowing	 payments,	interest	payments,	capital	expenditures,	benefit	plan	contributions,	income	tax	obligations	and	dividends	 to shareholders. Counterparties and instruments used to hold cash and cash equivalents are continuously assessed, with a focus on preservation of capital and liquidity. We also have amounts available for borrowing under a €1.95 billion multi-currency credit facility with a syndicate of 13 banks. This credit facility matures in 2025 and is for general corporate purposes and supporting our working capital needs.	Our	current	credit	facility	contains	no	financial	covenants	that	would	impact	our	liquidity	or	access	to	capital.	 As at 31 December 2021, we had no amounts drawn under this credit facility. Net debt In millions of € As at Credit ratings 31 December 2021 31 December 2020 As of 14 March 2022 Moody’s Fitch Ratings Total borrowings 13,140 7,187 Long-term rating Baa1 BBB+ Fair value of hedges related to borrowings(A) (110) 36 Outlook Stable Stable Other	financial	assets/ liabilities(A) 42 – Note:	Our	credit	ratings	can	be	materially	influenced	 by a number of factors including, but not limited to, acquisitions, investment decisions and working capital management activities of TCCC and/or changes in the credit rating of TCCC. A credit rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time. Adjusted total borrowings(A) 13,072 7,223 Less: cash and cash equivalents(B) (1,407) (1,523) Less: short term investments(C) (58) – Net debt 11,607 5,700 (A) Following the acquisition of CCL, Net Debt includes adjustments for the fair value of derivative instruments used to hedge both currency and interest rate risk on the Group’s borrowings. As at 31 December 2020, the Group did not hold interest rate hedging instruments and adjusted Net Debt only for currency impacts. In addition, Net	Debt	also	includes	other	financial	assets/liabilities	relating	to	cash	collateral	pledged	by/to	external	parties	on	hedging	instruments	related	to	borrowings.	 (B) Cash and cash equivalents as at 31 December 2021 includes €45 million of cash in Papua New Guinea Kina. Presently, there are government-imposed currency controls which impact the extent to which the cash held in Papua New Guinea can be converted into foreign currency and remitted for use elsewhere in the Group. (C) Short term investments are term cash deposits held in API with maturity dates when acquired of greater than three months and less than one year. These short term investments are held with counterparties that are continually assessed with a focus on preservation of capital and liquidity. Short term term investments as at 31 December 2021 includes €44 million of assets in Papua New Guinea Kina, subject to the same currency controls outlined above. The ratio of net debt to adjusted EBITDA is used by investors, analysts and credit rating agencies to analyse our operating	performance	in	the	context	of	targeted	financial	leverage,	and	so	we	provide	a	reconciliation	of	this	measure.	 Net debt enables investors to see the economic effect of total borrowings, fair value impact of related hedges and other financial	assets/liabilities,	cash	and	cash	equivalents	and	short-term	investments	in	total.	Adjusted	EBITDA	is	calculated	 as	EBITDA	after	adding	back	items	impacting	the	comparability	of	year	over	year	financial	performance. Adjusted	EBITDA	does	not	reflect	our	cash	expenditures,	or	future	requirements	for	capital	expenditures	or	contractual	 commitments.	Further,	adjusted	EBITDA	does	not	reflect	changes	in,	or	cash	requirements	for,	our	working	capital	needs	 and, although depreciation and amortisation are non-cash charges, the assets being depreciated and amortised are likely	to	be	replaced	in	the	future	and	adjusted	EBITDA	does	not	reflect	cash	requirements	for	such	replacements. Net debt to adjusted EBITDA For 2021, we have provided a pro forma calculation for our net debt to adjusted EBITDA ratio as if the Acquisition had occurred at the beginning of 2021. We believe this calculation allows for a better understanding of our capital position in the context of CCEP. Pro forma adjusted EBITDA has increased in 2021 relative to the adjusted EBITDA in 2020 by €888 million, primarily driven by the inclusion of API. The ratio of net debt to pro forma adjusted EBITDA is 4.3 versus the net	debt	to	adjusted	EBITDA	ratio	of	3.2	in	2020,	reflecting	the	increase	in	net	debt	due	to	acquisition	financing,	offset	by	 the increase in pro forma adjusted EBITDA. Business and financial review CONTINUED Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-F57 Governance and Directors’ Report Financial Statements Other InformationStrategic Report

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In millions of € Year ended 31 December 2021 Pro forma(A) 31 December 2021 31 December 2020 Reported profit after tax 988 988 498 Taxes 394 394 197 Finance costs, net 129 129 111 Non-operating items 5 5 7 Reported operating profit 1,516 1,516 813 Pro forma adjustments API(B) 117 Transaction accounting adjustments(C) (68) Pro forma operating profit 1,565 Depreciation and amortisation(D) 858 782 727 Reported EBITDA 2,423 2,298 1,540 Items impacting comparability: Mark-to-market effects(E) – – 2 Restructuring charges(F) 97 97 247 Defined	benefit	plan	closure(G) (9) (9) – Acquisition and integration related costs(H) 110 49 11 Inventory step up costs(I) 48 48 – European	flooding(J) 15 15 – Other(K) 4 – – Adjusted EBITDA 2,688 2,498 1,800 Net debt to EBITDA 4.8 5.1 3.7 Net debt to adjusted EBITDA 4.3 4.7 3.2 (A)	Reconciliation	from	reported	operating	profit	to	comparable	operating	profit	and	to	pro	forma	comparable	operating	profit	is	included	in	the	Supplementary	 Financial Information – Income Statement section. (B)	Amounts	represent	adjustments	to	include	CCL	financial	results	prepared	on	a	basis	consistent	with	CCEP	accounting	policies,	as	if	the	Acquisition	had	occurred	 on 1 January 2021 and excludes CCL acquisition and integration related costs. (C) Amounts represent transaction accounting adjustments for the period 1 January to 10 May as if the Acquisition had occurred on 1 January 2021. (D) Includes the depreciation and amortisation impact relating to provisional fair values for intangibles and property plant and equipment. On a pro forma basis, it includes the depreciation and amortisation as if the Acquisition had occurred on 1 January 2021. (E) Amounts represent the net out of period mark-to-market impact of non-designated commodity hedges. (F) Amounts represent restructuring charges related to business transformation activities, excluding accelerated depreciation included in the depreciation and amortisation line. (G)	Amounts	represent	the	impact	of	the	closure	of	the	GB	defined	benefit	pension	scheme	to	future	benefits	accrual	on	31	March	2021. (H) Amounts represent costs associated with the acquisition and integration of CCL. (I)	 Amounts	represent	the	non-recurring	impact	of	the	fair	value	step-up	of	API	finished	goods. (J)	 Amounts	represent	the	incremental	net	costs	incurred	as	a	result	of	the	July	2021	flooding	events,	which	impacted	the	operations	of	our	production	facilities	 in Chaudfontaine and Bad Neuenahr. (K)	Amounts	represent	charges	incurred	prior	to	Acquisition	classified	as	non-trading	items	by	CCL	which	are	not	expected	to	recur. Dividends In line with our commitments to deliver long-term value to shareholders, in December we paid a full year dividend of €1.40 per share, maintaining a payout ratio of approximately 50%, based on comparable diluted earnings per share, in line with our dividend policy. For the year ended 31 December 2021, dividend payments totalled €638 million (2020: €386 million). Share buyback In connection with the Company’s share buyback programmes, we returned approximately €130 million to shareholders in 2020. No Shares were repurchased under the programme in 2021. Business and financial review CONTINUED Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-F58 Governance and Directors’ Report Financial Statements Other InformationStrategic Report

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Supplementary financial information – Income Statement – reported to comparable The following provides a summary reconciliation of CCEP’s reported and comparable results for the full year ended 31 December 2021 and 31 December 2020: Full year 2021 Unaudited, in millions of € except per share data which is calculated prior to rounding As reported Items impacting comparability Comparable CCEP Restructuring charges(A) Defined benefit plan closure(B) Acquisition and integration related costs(C) Inventory step up costs(D) European flooding(E) Net Tax(F) CCEP Revenue 13,763 – – – – – – 13,763 Cost of sales 8,677 (17) 3 – (48) (9) – 8,606 Gross profit 5,086 17 (3) – 48 9 – 5,157 Operating expenses 3,570 (136) 6 (49) – (6) – 3,385 Operating profit 1,516 153 (9) 49 48 15 – 1,772 Total	finance	costs,	 net 129 – – (4) – – – 125 Non-operating items 5 – – – – – – 5 Profit before taxes 1,382 153 (9) 53 48 15 – 1,642 Taxes 394 43 4 10 13 3 (127) 340 Profit after taxes 988 110 (13) 43 35 12 127 1,302 Attributable to: Shareholders 982 109 (13) 43 34 12 127 1,294 Non-controlling interest 6 1 – – 1 – – 8 Profit after taxes 988 110 (13) 43 35 12 127 1,302 Diluted earnings per share (€) 2.15 0.24 (0.03) 0.09 0.07 0.03 0.28 2.83 (A) Amounts represent restructuring charges related to business transformation activities. (B)	Amounts	represent	the	impact	of	the	closure	of	the	GB	defined	benefit	pension	scheme	to	future	benefits	accrual	on	31	March	2021. (C) Amounts represent cost associated with the acquisition and integration of CCL. (D)	Amounts	represent	the	non-recurring	impact	of	the	fair	value	step-up	of	API	finished	goods. (E)	Amounts	represent	the	incremental	net	costs	incurred	as	a	result	of	the	July	2021	flooding	events,	which	impacted	the	operations	of	our	production	facilities	 in Chaudfontaine and Bad Neuenahr. (F) Amounts include the deferred tax impact related to income tax rate and law changes. (G) Amounts represent the net out of period mark-to-market impact of non-designated commodity hedges. Full year 2020 Unaudited, in millions of € except per share data which is calculated prior to rounding As reported Items impacting comparability Comparable CCEP Mark-to- market effects(G) Restructing charges(A) Total Acquisition Related Costs(C) Net Tax(F) CCEP Revenue 10,606 – – – – 10,606 Cost of sales 6,871 – (62) – – 6,809 Gross profit 3,735 – 62 – – 3,797 Operating expenses 2,922 (2) (306) (11) – 2,603 Operating profit 813 2 368 11 – 1,194 Total	finance	costs,	 net 111 – – (3) – 108 Non-operating items 7 – – – – 7 Profit before taxes 695 2 368 14 – 1,079 Taxes 197 – 103 3 (45) 258 Profit after taxes 498 2 265 11 45 821 Attributable to: Shareholders 498 2 265 11 45 821 Non-controlling interest – – – – – – Profit after taxes 498 2 265 11 45 821 Diluted earnings per share (€) 1.09 – 0.58 0.03 0.10 1.80 Business and financial review CONTINUED Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-F59 Governance and Directors’ Report Financial Statements Other InformationStrategic Report

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Business and financial review CONTINUED Supplementary financial information – Income Statement – reported to pro forma comparable The following provides a summary reconciliation of CCEP’s reported and pro forma comparable results for the full year ended 31 December 2021 and 31 December 2020: Full year 2021 Unaudited, in millions of € except per share data which is calculated prior to rounding As reported Pro forma adjustments CCL(A) Transaction accounting adjustments(B) Pro forma combined Items impacting com- parability(E) Pro forma comparable CCEP CCEP CCEP Revenue 13,763 1,056 – 14,819 – 14,819 Cost of sales 8,677 616 – 9,293 (71) 9,222 Gross profit 5,086 440 – 5,526 71 5,597 Operating expenses 3,570 323 68 3,961 (250) 3,711 Operating profit 1,516 117 (68) 1,565 321 1,886 Total	finance	costs,	net 129 12 9 150 (4) 146 Non-operating items 5 (1) – 4 – 4 Profit before taxes 1,382 106 (77) 1,411 325 1,736 Taxes 394 29 (20) 403 (36) 367 Profit after taxes 988 77 (57) 1,008 361 1,369 Attributable to: Shareholders 982 74 (58) 998 359 1,357 Non-controlling interest 6 3 1 10 2 12 Profit after taxes 988 77 (57) 1,008 361 1,369 Diluted earnings per share (€) 2.15 0.16 (0.13) 2.18 0.79 2.97 (A)	Amounts	represent	adjustments	to	include	CCL	financial	results	prepared	on	a	basis	consistent	with	CCEP	accounting	policies,	as	if	the	Acquisition	had	occurred	 on 1 January 2021 and excludes CCL acquisition and integration related costs. (B) Amounts represent transaction accounting adjustments for the period 1 January to 10 May as if the Acquisition had occurred on 1 January 2021. These include the depreciation and amortisation impact relating to provisional fair values for intangibles and property plant and equipment, the interest impact of additional debt financing	reflecting	the	actual	weighted	average	interest	rate	for	Acquisition	financing	of	c.0.40%	and	the	inclusion	of	acquisition	and	integration	related	costs	 incurred by CCL prior to the Acquisition. Full year 2020 Unaudited, in millions of € except per share data which is calculated prior to rounding As reported Historical adjusted CCL(C) Transaction accounting adjustments(D) Pro forma combined Items impacting com- parability(E) Pro forma comparable CCEP CCEP CCEP Revenue 10,606 2,929 – 13,535 – 13,535 Cost of sales 6,871 1,737 57 8,665 (118) 8,547 Gross profit 3,735 1,192 (57) 4,870 118 4,988 Operating expenses 2,922 1,022 130 4,074 (581) 3,493 Operating profit 813 170 (187) 796 699 1,495 Total	finance	costs,	net 111 37 19 167 (7) 160 Non-operating items 7 2 – 9 (4) 5 Profit before taxes 695 131 (206) 620 710 1,330 Taxes 197 44 (57) 184 142 326 Profit after taxes 498 87 (149) 436 568 1,004 Attributable to: Shareholders 498 109 (152) 455 542 997 Non-controlling interest – (22) 3 (19) 26 7 Profit after taxes 498 87 (149) 436 568 1,004 Diluted earnings per share (€) 1.09 0.24 (0.33) 1.00 1.19 2.19 (C)	Amounts	represent	adjustments	to	reflect	CCL	financial	results	as	if	the	Acquisition	had	occurred	on	1	January	2020.	The	impact	of	adjustments	made	to	CCL’s	 historical	financial	statements	in	order	to	present	them	on	a	basis	consistent	with	CCEP’s	accounting	policies	is	provided	in	Note	1.	 (D) Amounts represent transaction accounting adjustments for the period 1 January to 31 December as if the Acquisition had occurred on 1 January 2020. These include the depreciation and amortisation impact relating to provisional fair values for intangibles and property plant and equipment, the non-recurring impact of	the	provisional	fair	value	step-up	of	API	finished	goods,	the	interest	impact	of	additional	debt	financing	reflecting	the	actual	weighted	average	interest	rate	 for	Acquisition	financing	of	c.0.40%	and	the	inclusion	of	acquisition	related	costs. (E)	Items	impacting	comparability	represents	amounts	included	within	pro	forma	Combined	CCEP	affecting	the	comparability	of	CCEP’s	year-over-year	financial	 performance and are set out in the following table: Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-F60 Governance and Directors’ Report Financial Statements Other InformationStrategic Report

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Business and financial review CONTINUED Items impacting comparability Full year 2021 Unaudited, in millions of € except share data which is calculated prior to rounding Restructuring charges(A) Defined benefit plan closure(B) Acquisition and integration related costs(C) Inventory step up costs(D) European flooding(E) Net tax(F) Other(G) Total items impacting comparability Revenue – – – – – – – – Cost of sales (17) 3 – (48) (9) – – (71) Gross profit 17 (3) – 48 9 – – 71 Operating expenses (136) 6 (110) – (6) – (4) (250) Operating profit 153 (9) 110 48 15 – 4 321 Total	finance	costs,	net – – (4) – – – – (4) Non-operating items – – – – – – – – Profit before taxes 153 (9) 114 48 15 – 4 325 Taxes 43 4 27 13 3 (127) 1 (36) Profit after taxes 110 (13) 87 35 12 127 3 361 Attributable to: Shareholders 109 (13) 87 34 12 127 3 359 Non-controlling interest 1 – – 1 – – – 2 Profit after taxes 110 (13) 87 35 12 127 3 361 Diluted earnings per share (€) 0.24 (0.03) 0.19 0.07 0.03 0.28 0.01 0.79 Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-F61 Governance and Directors’ Report Financial Statements Other InformationStrategic Report

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Items impacting comparability Full year 2020 Unaudited, in millions of € except share data which is calculated prior to rounding Restructuring charges(A) Acquisition and integration related costs(C) Inventory step up costs(D) Mark-to-market effects(H) Net tax(F) Impairment(I) Other(G) Total items impacting comparability Revenue – – – – – – – – Cost of sales (70) – (48) – – – – (118) Gross profit 70 – 48 – – – – 118 Operating expenses (325) (125) – (2) – (116) (13) (581) Operating profit 395 125 48 2 – 116 13 699 Total	finance	costs,	net – (7) – – – – – (7) Non-operating items – – – – – – (4) (4) Profit before taxes 395 132 48 2 – 116 17 710 Taxes 111 30 13 – (45) 29 4 142 Profit after taxes 284 102 35 2 45 87 13 568 Attributable to: Shareholders 284 102 34 2 45 62 13 542 Non-controlling interest – – 1 – – 25 – 26 Profit after taxes 284 102 35 2 45 87 13 568 Diluted earnings per share (€) 0.62 0.23 0.07 – 0.10 0.14 0.03 1.19 (A) Amounts represent restructuring charges related to business transformation activities. (B)	Amounts	represent	the	impact	of	the	closure	of	the	GB	defined	benefit	pension	scheme	to	future	benefits	accrual	on	31	March	2021. (C) Amounts represent cost associated with the acquisition and integration of CCL. (D)	Amounts	represent	the	non-recurring	impact	of	the	provisional	fair	value	step-up	of	API	finished	goods.	For	2021,	these	charges	are	included	within	the	As	reported	results.	For	2020,	these	charges	are	included	within	Transaction	accounting	adjustments. (E)	Amounts	represent	the	incremental	net	costs	incurred	as	a	result	of	the	July	2021	flooding	events,	which	impacted	the	operations	of	our	production	facilities	in	Chaudfontaine	and	Bad	Neuenahr. (F) Amounts include the deferred tax impact related to income tax rate and law changes. (G)	Amounts	represent	charges	incurred	prior	to	Acquisition	classified	as	non-trading	items	by	CCL	which	are	not	expected	to	recur. (H) Amounts represent the net out of period mark-to-market impact of non-designated commodity hedges. (I) Amounts represent the charges recognised by CCL relating to the impairment of Indonesia and Fiji during H1 2020. Business and financial review CONTINUED Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-F62 Governance and Directors’ Report Financial Statements Other InformationStrategic Report

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Note 1: Adjustments to API’s financial statements The	financial	statements	below	illustrate	the	impact	of	adjustments	made	to	the	historical	financial	statements	of	CCL	in	 order to present them on a basis consistent with CCEP’s accounting policies. Full year 2020 Unaudited, in millions of € Historical CCL(A) Reclassifications(B) Adjusted CCL Historical adjusted CCL(C) AUD (A$) AUD (A$) AUD (A$) EUR (€) Revenue – 4,853 4,853 2,929 Trading revenue 4,762 (4,762) – – Cost of sales – (2,877) (2,877) (1,737) Cost of goods sold (2,862) 2,862 – – Delivery (221) 221 – – Gross profit 1,679 297 1,976 1,192 Other revenues 39 (39) – – Operating expenses (1,438) (255) (1,693) (1,022) Operating profit 280 3 283 170 Finance income 33 – 33 20 Finance costs (95) – (95) (57) Total finance costs, net (62) – (62) (37) Non-operating items – (3) (3) (2) Profit before taxes 218 – 218 131 Taxes – (73) (73) (44) Income tax expense (73) 73 – – Profit after taxes 145 – 145 87 Attributable to: Shareholders 180 – 180 109 Non-controlling interest (35) – (35) (22) Profit after taxes 145 – 145 87 (A) Historical income statement previously published by CCL for the period 1 January 2020 to 31 December 2020. (B)	Accounting	policy	and	classification	adjustments	made	to	CCL’s	income	statement	in	order	to	present	on	a	basis	consistent	with	CCEP.	 (C) CCL income statement has been translated from Australian Dollars to Euros using the average exchange rate for the period of 0.6036. Operating Profit by segment Operating profit Europe In millions of €. Fx impact calculated by recasting current year results at prior year rate Year Ended 31 December 2021 31 December 2020 % Change As reported 1,298 813 59.5% Adjust: Total items impacting comparability 202 381 n/a Comparable 1,500 1,194 25.5% Adjust: Impact of Fx changes (22) n/a n/a Comparable and Fx neutral 1,478 1,194 24.0% Pro forma operating profit API In millions of €. Fx impact calculated by recasting current year results at prior year rates Year Ended 31 December 2021 31 December 2020 % Change As reported 218 – n/a Add: Pro forma adjustments API 117 170 Adjust: Transaction accounting adjustments (68) (187) n/a Adjust: Total items impacting comparability 119 318 Pro forma comparable 386 301 28.0% Adjust: Impact of Fx changes (15) n/a n/a Pro forma comparable and Fx neutral 371 301 23.5% The Company’s Strategic Report is set out on pages 2–63. The Strategic Report was approved by the Board on 15 March 2022 and signed on its behalf by Damian Gammell, Chief	Executive	Officer Business and financial review CONTINUED Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-F63 Governance and Directors’ Report Financial Statements Other InformationStrategic Report

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Governance and Directors’ Report In this section Governance and Directors’ Report 65 Chairman’s introduction 66 Board of Directors 67 Directors’ biographies 72 Senior management 74 Corporate governance report 82 Nomination Committee Chairman’s letter 83 Nomination Committee report 86 Audit Committee Chairman’s letter 87 Audit Committee report 92 Directors’ remuneration report 92 Statement from the Remuneration Committee Chairman 94 Overview of Remuneration Policy 95 Remuneration at a glance 96 Annual report on remuneration 108 Directors’ report 111 Directors’ responsibilities statement 64 Strategic Report Financial Statements Other Information Coca-Cola	Europacific	Partners	plc	|	2021	Integrated	Report	and	Form	20-FGovernance and Directors’ Report

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Chairman’s introduction Dear Shareholder I’m delighted to present to you the corporate governance report for 2021. This year has been an exciting year. We became Coca-Cola	Europacific	Partners	(CCEP)	following	the	 acquisition of Coca-Cola Amatil (CCL) and welcomed the newly	created	Asia,	Pacific	and	Indonesia	(API)	business	 unit to CCEP (the Acquisition). Good governance is aligned to a positive corporate culture and we will embed our strong governance processes across API. The COVID-19 pandemic has been a catalyst for bringing environmental, social and governance (ESG) matters to the forefront of business. Our return to growth has been reinforced by sustainability and digital, helped by our people and our communities and underpinned by robust governance. Board activities There is a brief summary of the Board’s activities during 2021 in table 1 on page 77, with some more detail on specific	activities	elsewhere	in	this	report.	This	year,	as	 well as our normal agenda we focused on: – API integration and growth strategy – Supporting our colleagues, customers and communities through the ongoing pandemic – Driving a safe, open and diverse workplace that is fully inclusive for our people, customers and communities – Transferring our US listing from New York Stock Exchange (NYSE) to Nasdaq Stock Market (Nasdaq) – Deepening the Board’s knowledge of the business and the context in which we operate, particularly API – An externally facilitated Board evaluation Our governance framework The 2018 UK Corporate Governance Code (the UKCGC) applies to accounting periods beginning on or after 1 January 2019. We continued to apply the UKCGC voluntarily on a comply or explain basis during 2021. We promote good corporate governance throughout CCEP embodied by our governance framework on page 74. Looking to the future Our responsibility as the Board is to lead CCEP and oversee its governance. We set the culture, values and standards, always keeping our stakeholders’ interests front of mind. Along with its regular schedule of topics, the Board has the following activities planned for 2022: ESG How we respond to climate change and the risks that it poses are at the forefront of the minds of all our stakeholders.	We	will	refine	our	This	is	Forward	 sustainability commitments and improve our governance and reporting of climate-related risks and opportunities as we continue our journey to best practice in ESG as set out in our Sustainability governance framework on page 20. Digital Our ambition is to become a technology and digitally enabled company. We recognise the importance of fostering a risk appetite culture where people can work effectively in a workplace which prioritises cyber security and we appointed John Bryant as our designated Independent Non-executive Director (INED) to engage in the cyber security strategy process. Customers Building on feedback that the Board heard from customers throughout the year, we will oversee investments in key areas of the business, like technology and customer service to create value for our customers and help them grow, backed by data. Sol Daurella, Chairman 15 March 2022 Good governance is aligned to a positive corporate culture and we will embed our strong governance processes across API. Sol Daurella, Chairman 65 Strategic Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FGovernance and Directors’ Report

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Our Board of Directors is diverse, experienced and knowledgeable, bringing together the skills needed for our long-term success in line with our skills matrix. Directors’ skills and experience(A) Coca-Cola system Bottling industry People 11 11 13 Customer/retail Marketing/PR/consumer Sustainability 14 14 14 Digital technology Strategy Audit/risk/finance 04 16 09 Ethnicity/nationality of Directors on the Board(A) 15 White European 01 White American 01 White Australian Women on the Board(A) Independent Directors on the Board(A) (excluding the Chairman) 5 0 17 9 0 16 (A) Numbers shown are number of Directors.  ReadmoreaboutourapproachtoBoarddiversityonpage 83 Board of Directors Number % American 2 12 Australian 1 6 Austrian 1 6 British 3 18 Bulgarian 1 6 French 1 6 Irish 1 6 Dutch 1 6 Spanish 6 35 66 Strategic Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FGovernance and Directors’ Report

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Directors’ biographies AT 	 Affiliated	Transaction	Committee	 	 A Audit Committee C Corporate Social Responsibility Committee N Nomination Committee R Remuneration Committee Committee Chairman AT A C N R Sol Daurella Chairman Date appointed to the Board: May 2016 Independent: No Key strengths/experience – Experienced director of public companies operating in an international environment – A deep understanding of fast moving consumer goods (FMCG) and our markets – Extensive experience at Coca-Cola bottling companies – Strong international strategic and commercial skills Key external commitments Co-Chairman and member of the Executive Committee of Cobega, S.A., Executive Chairman of Olive Partners, S.A., director of Equatorial Coca-Cola Bottling Company, S.L., non-executive director and a member of the Appointments, Remuneration and Responsible Banking, Sustainability and Culture Committees of Banco Santander Previous roles Various roles at the Daurella family’s Coca-Cola bottling business, director of Banco de Sabadell, Ebro Foods, Acciona and Co-Chairman of Grupo Cacaolat AT A C N R Damian Gammell Chief Executive Officer (CEO) Date appointed to the Board: December 2016 Independent: No Key strengths/experience – Strategy, risk management, development and execution experience – Vision, customer focus and transformational leadership – Developing people and teams and promoting sustainability – Over 25 years of leadership experience and in depth understanding of the non-alcoholic ready to drink (NARTD) industry and within the Coca-Cola system Key external commitments N/A Previous roles A number of senior executive roles in the Coca-Cola system including in Russia, Australia and Germany, also Managing Director and Group President of Efes Soft Drinks, and President and CEO of Anadolu Efes S.K K ey 67 Strategic Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FGovernance and Directors’ Report

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AT A C N R AT A C N R AT A C N R AT A C N R Manolo Arroyo Non-executive Director Date appointed to the Board: May 2021 Independent: No Jan Bennink Non-executive Director(A) Date appointed to the Board: May 2016 Independent: Yes John Bryant Non-executive Director Date appointed to the Board: January 2021 Independent: Yes José Ignacio Comenge Non-executive Director Date appointed to the Board: May 2016 Independent: No Key strengths/experience – Extensive experience working in the Coca-Cola system – Strong operational leadership experience in international consumer goods groups, lived and worked in four continents, both developed and emerging markets – Strategic marketing, commercial and bottling expertise – Served as CEO of publicly listed FMCG company – In depth understanding of brands in the Coca-Cola system Key external commitments Chief	Marketing	Officer	at	The	Coca-Cola	Company	 (TCCC)	and	non-executive	director	of	Effie	Worldwide Previous roles President	of	the	Asia	Pacific	Group,	Bottling	Investments	 Group, and Mexico business unit of TCCC, CEO of Deoleo, Sw.A., Senior Vice President and President, Asia	Pacific	of	S.C.	Johnson	&	Son,	Inc.,	President	of	 the ASEAN and SEWA business units of TCCC, General Manager of the Spain business unit of TCCC; Vice-Chairman of Coca-Cola COFCO Bottling China, non-executive Director of ThaiNamThip Limited and Coca-Cola Andina Key strengths/experience – Chairman/CEO of multinational public companies – Extensive experience in FMCG, including the food and beverage industry – Thorough understanding of global and Western European markets – Strong strategic, marketing and sales experience relevant to the beverage industry Key external commitments Chairman of the Bennink Foundation, Board member of	Wonderflow	B.V.,	Executive	Partner	at	Xn,	and	Advisor	 to Artisan Partners Previous roles Executive Chairman of Sara Lee Corporation, Chairman and interim CEO of DE Masterblenders 1753 N.V., CEO of Royal Numico N.V., director of Kraft Foods Inc., Boots Company	plc,	Dalli-Werke	GmbH	&	Co	KG	and	EFIC1	 and a member of the Advisory Board of ABN Amro Bank (A)	Jan	was	succeeded	by	Dagmar	Kollmann	as	Chairman	of	the	Affiliated	 Transaction Committee in March 2022, Jan will continue to serve as a member of the committee. Key strengths/experience – Chairman/CEO of a multinational public company – Expert in strategy, mergers and acquisitions, restructuring and portfolio transformation – 30 years’ experience in consumer goods – Strong	track	record	of	finance	and	operational	 leadership, experience in overseeing information technology – Engaged in the cyber security strategy process Key external commitments Non-executive director of Ball Corporation, Compass Group plc and Macy’s Inc. Previous roles Executive Chairman and CEO of Kellogg Company and other senior roles in the Kellogg Company including Chief	Financial	Officer	(CFO),	Chief	Operating	Officer	 (COO), President, America and President, International, and strategy advisor at A.T. Kearney and Marakon Associates Key strengths/experience – Extensive experience of the Coca-Cola system – Broad board experience across industries and sectors – Knowledgeable about the industry in our key market of Iberia – Insights in formulating strategy drawn from leadership roles in varied sectors Key external commitments Director of Olive Partners, S.A., ENCE Energía y Celulosa, S.A., Companía Vinícola del Norte de Espana, S.A.,	Ebro	Foods	S.A.,	Barbosa	&	Almeida	SGPS,	 S.A. and Ball Beverage Can Iberica, S.L. Previous roles Senior	roles	in	the	Coca-Cola	system,	AXA,	S.A.,	Aguila	 and Heineken Spain, Vice-Chairman and CEO of MMA Insurance Directors’ biographies CONTINUED 68 Strategic Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FGovernance and Directors’ Report

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AT A C N R AT A C N R AT A C N R AT A C N R Christine Cross Non-executive Director Date appointed to the Board: May 2016 Independent: Yes Nathalie Gaveau Non-executive Director Date appointed to the Board: January 2019 Independent: Yes Álvaro Gómez-Trénor Aguilar Non-executive Director Date appointed to the Board: March 2018 Independent: No Thomas H. Johnson Non-executive Director and Senior Independent Director (SID) Date appointed to the Board: May 2016 Independent: Yes Key strengths/experience – In depth experience working in the food and beverage industry – Consults on international business strategy, marketing and sustainable business development – Global perspective on CCEP’s activities – Experience of chairing remuneration committees Key external commitments Director of Christine Cross Ltd, non-executive director of Hilton Food Group plc, Clipper Logistics plc, Pollen Estate and Chairman of Oddbox Delivery Ltd Previous roles Director of Brambles Limited, Fenwick Limited, Kathmandu Holdings Limited, Next plc, Woolworths (Au) plc, Sobeys (Ca) plc, Plantasgen, Fairmont Hotels Group plc, Sonae – SGPS, S.A., Premier Foods plc, Taylor Wimpey plc and member of the Supervisory Board of Zooplus AG Key strengths/experience – Successful tech entrepreneur and investor – Expert in e-commerce and digital transformation, innovation, mobile, data and social marketing – International consumer goods experience Key external commitments Non-executive director of Calida Group and Lightspeed Commerce Inc., Senior Advisor to BCG Digital Ventures, and President of Tailwind International Corp, a Special Purpose Acquisition Company Previous roles Founder and CEO of Shopcade, Interactive Business director	of	the	TBWA	Tequila	Group,	Asia	Pacific	 E-business and CRM Manager for Club Med, co-founder and Managing Director of Priceminister, Financial Analyst for Lazard and non-executive director of HEC Paris Key strengths/experience – Broad knowledge of working in the food and beverage industry – Extensive understanding of the Coca-Cola system, particularly in Iberia – Expertise	in	finance	and	investment	banking – Strategic and investment advisor to businesses in varied sectors Key external commitments Director of Olive Partners, S.A. and Sinensis Seed Capital SCR de RC, S.A. Previous roles Various board appointments in the Coca-Cola system, including as President of Begano, S.A., director and Chairman of the Audit Committee of Coca-Cola Iberian Partners, S.A., as well as key executive roles in Grupo Pas	and	Garcon	Vallvé	&	Contreras	and	director	of	 Global Omnium (Aguas de Valencia, S.A.) Key strengths/experience – Chairman/CEO of international public companies – Manufacturing and distribution expertise – Extensive international management experience in Europe – Investment	and	finance	experience Key external commitments CEO of The Taffrail Group, LLC and non-executive director of Universal Corporation Previous roles Chairman and CEO of Chesapeake Corporation, President and CEO of Riverwood International Corporation, director of Coca-Cola Enterprises, Inc., GenOn Corporation, Mirant Corporation, ModusLink Global Solutions, Inc., Superior Essex Inc. and Tumi, Inc. Directors’ biographies CONTINUED 69 Strategic Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FGovernance and Directors’ Report

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AT A C N R AT A C N R AT A C N R AT A C N R Dagmar Kollmann Non-executive Director(A) Date appointed to the Board: May 2019 Independent: Yes Alfonso Líbano Daurella Non-executive Director Date appointed to the Board: May 2016 Independent: No Mark Price Non-executive Director Date appointed to the Board: May 2019 Independent: Yes Mario Rotllant Solá Non-executive Director Date appointed to the Board: May 2016 Independent: No Key strengths/experience – Expert	in	finance	and	international	listed	groups – Thorough understanding of capital markets and mergers and acquisitions – Extensive commercial and investor relations experience – Strong executive and senior leadership experience in global businesses – Risk oversight and corporate governance expertise Key external commitments Chairman of the Supervisory Board of Citigroup Global Markets Europe AG, non-executive director of Unibail-Rodamco-Westfield	SE,	Deutsche	Telekom	AG	 and Paysafe Group Limited, and Commissioner in the German Monopolies Commission Previous roles CEO and Country Head in Germany and Austria for Morgan Stanley, member of the board of Morgan Stanley International Ltd in London, Associate Director of UBS in London,	non-executive	director	of	KfW	IPEX-Bank	and	 Deputy Chairman of the Supervisory Board of Deutsche Pfandbriefbank AG (A)	Dagmar	succeeded	Jan	Bennink	as	Chairman	of	the	Affiliated	 Transaction Committee in March 2022, Jan will continue to serve as a member of the committee. Key strengths/experience – Developed the Daurella family’s association with the Coca-Cola system – Detailed knowledge of the Coca-Cola system – Insight to CCEP’s impact on communities from experience as trustee or director of charitable and public organisations – Experienced corporate social responsibility (CSR) committee chair Key external commitments Vice Chairman and Member of the Executive Committee of Cobega, S.A., director of Olive Partners, S.A., Chairman of Equatorial Coca-Cola Bottling Company, S.L., Vice- Chairman of MECC Soft Drinks JLT, Co-chair of the Polaris Committee at United Nations and FBN, and Ambassador of the Family Business Network and member of the board of the American Chamber of Commerce in Spain Previous roles Various roles at the Daurella family’s Coca-Cola bottling business,	director	and	Chairman	of	the	Quality	&	CRS	 Committee of Coca-Cola Iberian Partners, S.A, director of Grupo Cacaolat, S.L. and director of The Coca-Cola Bottling Company of Egypt, S.A.E, member of the board of Banco Espanol de Credito Banesto, and Chair of Family Business Europe Key strengths/experience – Extensive experience in the retail industry – A deep understanding of international trade – Strong strategic and sustainable development skills Key external commitments Member of the House of Lords, Founder of WorkL, Chair of Trustees of the Fairtrade Foundation UK and President and Chairman of the Chartered Management Institute Previous roles Managing Director of Waitrose and Deputy Chairman of John Lewis Partnership, non-executive director and Deputy Chairman of Channel 4 TV and Minister of State for Trade and Investment and Trade Policy, Chair of Business in the Community, The Prince’s Countryside Fund and Member of Council at Lancaster University Key strengths/experience – Deep understanding of the Coca-Cola system – Extensive international experience in the food and beverage industry – Experience of chairing a remuneration committee Key external commitments Vice-Chairman of Olive Partners, S.A., Co-Chairman and member of the Executive Committee of Cobega, S.A., Chairman of the North Africa Bottling Company, Chairman of the Advisory Board of Banco Santander, S.A. in Catalonia and a director of Equatorial Coca-Cola Bottling Company, S.L. Previous roles Second Vice-Chairman and member of the Executive Committee	and	Chairman	of	the	Appointment	&	 Remuneration Committee of Coca-Cola Iberian Partners, S.A. Directors’ biographies CONTINUED 70 Strategic Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FGovernance and Directors’ Report

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AT A C N R Garry Watts Non-executive Director Date appointed to the Board: April 2016 Independent: Yes Key strengths/experience – Extensive business experience in Western Europe and the UK, including as CEO of a global consumer goods business – Served as executive and non-executive director in a broad variety of sectors and previously chaired the Audit Committee of a sizeable company – Financial expertise, experience and skills – Formerly an auditor Key external commitments Senior Independent Director of Circassia Pharmaceuticals plc Previous roles Audit partner at KPMG LLP, CFO of Medeva plc, CEO of SSL International, director of Coca-Cola Enterprises, Inc., Deputy Chairman and Audit Committee Chairman of Stagecoach Group plc and Protherics plc and Chairman of BTG plc, Foxtons Group plc and Spire Healthcare Group plc AT A C N R Dessi Temperley Non-executive Director Date appointed to the Board: May 2020 Independent: Yes Key strengths/experience – Financial and technical accounting expertise – Strong commercial insights and knowledge of European markets – International consumer brands experience – Skilled in technology Key external commitments Non-executive director and Chairman of the Audit Committee of Cimpress plc, non-executive director of Philip Morris International Inc. and member of the Supervisory Board of Corbion N.V. Previous roles Group CFO of Beiersdorf AG, member of the Supervisory Board of tesa SE, Head of Investor Relations at Nestlé, CFO of Nestlé Purina EMENA and CFO of Nestlé South East	Europe,	and	finance	roles	at	Cable	&	Wireless	 and Shell Board and Committee membership changes during the year – Irial Finan resigned from the Board effective 26 May 2021 – Garry Watts was appointed as a member of the Affiliated	Transaction	Committee	and	resigned	 as a member of the Remuneration Committee effective 20 October 2021 – John Bryant was appointed as a member of the Remuneration Committee and resigned as a member	of	the	Affiliated	Transaction	Committee	 effective 20 October 2021 Directors’ biographies CONTINUED AT A C N R Brian Smith Non-executive Director Date appointed to the Board: July 2020 Independent: No Key strengths/experience – Extensive experience of working in the Coca-Cola system – Deep understanding of in market executional leadership – Strong talent development and deployment skills – Broad	knowledge	of	global	field	operations	at	TCCC Key external commitments President and COO at TCCC and non-executive director and member of the Compensation Committee of Evertec, Inc. Previous roles President of TCCC’s Europe, Middle East and Africa group, President of TCCC’s Latin America group, Executive Assistant to TCCC’s CEO and Vice Chairman, President of Brazil division, President of the Mexico division and also Latin America group manager for mergers and acquisitions at TCCC 71 Strategic Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FGovernance and Directors’ Report

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The senior management and Damian Gammell together constitute the members of the Executive Leadership Team (ELT). Senior management Nik Jhangiani Chief Financial Officer Appointed May 2016 Nik	has	more	than	25	years	of	finance	experience,	 including 20 years within the Coca Cola system, previously as Senior Vice President and CFO for Coca-Cola Enterprises, Inc. Nik started his career in	New	York	at	accountancy	firm	Deloitte	&	Touche	 before spending two years at Bristol-Myers Squibb as International Senior Internal Auditor. He then joined the Colgate-Palmolive Company in New York where he was appointed Group Financial Director for the Nigerian operations, before moving to TCCC in Atlanta. He is a	Certified	Public	Accountant. José Antonio Echeverría Chief Customer Service and Supply Chain Officer Appointed September 2019 José Antonio leads CCEP’s end to end supply chain and customer service. He is focused on creating a superior experience for our customers, while delivering an expanded and sustainable portfolio of drinks and packaging. He has been a part of the Coca-Cola system since 2005, serving as Vice President of Strategy and Transformational Projects for the Iberia Business Unit, and Vice President, Strategy and Coordination for Supply Chain across CCEP. Stephen Lusk Chief Commercial Officer Appointed March 2021 Stephen is responsible for advancing and shaping our commercial strategy, capabilities and driving our performance in the market and with customers. He works closely with our franchise partners to bring their brands and products to life. Stephen has spent the last 30 years in the Coca-Cola system, holding senior positions in supply chain, sales and marketing and general management in Europe. Most recently, he led the Coca-Cola bottler in Singapore, Malaysia and Brunei. Clare Wardle General Counsel and Company Secretary Appointed July 2016 Clare leads legal, risk, compliance, security and company secretariat. Prior to joining CCEP, she was Group General	Counsel	at	Kingfisher	plc,	Commercial	Director,	 General Counsel and Company Secretary at Tube Lines and held senior roles at the Royal Mail Group. She began her career as a barrister before moving to Hogan Lovells. Clare is the Senior Independent Director of The City of London Investment Trust plc and Modern Pentathlon GB. Peter Brickley Chief Information Officer (CIO) Appointed November 2016 Peter leads the business process and technology function at CCEP, including steering CCEP’s investments in technology solutions. Peter has over 20 years’ experience leading technology for global businesses including Heineken, Centrica and BAT. More recently, he was Global CIO and Managing Director of Global Business Services at SABMiller. Peter is also a trustee of the Brain and Spine Foundation. Ana Callol Chief Public Affairs, Communications and Sustainability Officer Appointed January 2022 Ana leads CCEP’s sustainability strategy, effective communication with stakeholders and employees, and engagement with media, policymakers and communities. Ana has worked within the Coca-Cola System for over 20 years in roles across the spectrum of marketing, sustainability, communications and public affairs. Her consumer and customer orientation and leadership experience helps CCEP accelerate its sustainability plan, This is Forward, and strengthen the development and growth of PACS capabilities. 72 Strategic Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FGovernance and Directors’ Report

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Senior management CONTINUED Victor Rufart Chief Integration Officer Appointed October 2016 Victor leads business strategy and business transformation. Prior to joining CCEP, he was CEO of Coca-Cola Iberian Partners, S.A. and spent 25 years at Cobega, S.A. Whilst with Cobega, S.A., he held a number of senior roles including Director of New Business, Head of Finance, advisor in the formation of the Equatorial Coca Cola Bottling Company and Head of Tax Planning. Leendert den Hollander, General Manager, Northern Europe Business Unit Appointed September 2020 Leendert is responsible for CCEP’s business unit in Northern Europe, including Belgium, Luxembourg, the Netherlands, Sweden, Norway and Iceland. Previously, he was General Manager of Great Britain. Prior to CCEP, Leendert was CEO of Young’s Seafood and Managing Director at Findus Group Ltd. Earlier in his career, Leendert	spent	15	years	at	Procter	&	Gamble	in	senior	 marketing positions. Francesc Cosano General Manager, Iberia Business Unit Appointed May 2016 Francesc leads CCEP’s business unit in Spain, Portugal and Andorra. He was previously the Operations Director then Managing Director of Coca-Cola Iberian Partners, S.A. Francesc has been part of the Coca-Cola system for over 30 years, and involved in a number of sales management positions, ultimately as Sales Director then Deputy General Manager. He has also worked as Regional Director for the Leche Pascual, S.A. Group, in Anglo Española de Distribución, S.A. Stephen Moorhouse General Manager, Great Britain Business Unit Appointed September 2020 Stephen is responsible for CCEP’s business unit in Great Britain. He has over 25 years’ experience in the Coca-Cola system, leading business operations and supply chain. Stephen has held a number of other senior executive roles throughout Europe, most recently as General Manager of Northern Europe. Prior to joining, he worked overseas for the Swire Group in the US and Asian Pacific	region.	Stephen	is	a	member	of	the	British	Soft	 Drinks Association. Véronique Vuillod Chief People and Culture Officer Appointed November 2020 Véronique heads CCEP’s People and Culture function. Having joined the Coca-Cola bottling system more than 20 years ago, she has worked in many human resources (HR) positions across business units, commercial and supply chain functions overseeing HR strategy and partnering with business leaders. Most recently, Veronique was Vice President, People and Culture in France. She began her career as a management consultant with PricewaterhouseCoopers. She supports the promotion of inclusion and diversity, HR best practices in leadership and workplace, and innovations networks. Frank Molthan, General Manager, Germany Business Unit Appointed May 2016 Frank leads CCEP’s Business Unit in Germany and has over 30 years’ experience in Germany’s Coca-Cola system. He started his career at Coca-Cola bottling operations in Schleswig-Holstein and North Rhine- Westphalia. He has held a range of regional and commercial leadership roles, latterly as HR Director for Coca-Cola Germany. He was also Managing Director of Coca-Cola Deutschland Verkauf GmbH and Co. KG. François Gay-Bellile General Manager, France Business Unit Appointed July 2020 François is responsible for CCEP’s business unit in France. His career began at Pernod-Ricard as a brand manager. He joined TCCC in France in 1996. Over his 24 years at TCCC he held roles of increasing responsibility in marketing, commercial and general management in the US, Asia and Europe. Before joining CCEP, François was General Manager for TCCC in France. He is a director of the French Soft Drinks Association (Boissons Rafraîchissantes de France), the	French	Food	&	Beverage	Association	(Association	 Nationale de l’Industrie Alimentaire) and ILEC (Institut de Liaisons des Enterprises de Consommation). Peter West General Manager, Australia, Pacific and Indonesia Business Unit Appointed May 2021 Peter was appointed Vice President and General Manager of the API business unit in May 2021, following the Acquisition. Peter originally joined CCL as Managing Director, Australian Beverages in April 2018. Prior to this role, Peter was Managing Director of Lion’s Dairy and Drinks business in Australia and has held several senior roles at Arnott’s Biscuits Ltd and Mars Confectionery, including Regional President for Continental Europe for Mars Chocolate. 73 Strategic Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FGovernance and Directors’ Report

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Accountability Corporate governance report CONTINUED Delegation Governance framework Our corporate governance framework is summarised below with further detail provided on the following pages Affiliated Transaction Committee (ATC) Has	oversight	of	transactions	with	affiliates	and	makes	recommendations	to	the	Board	(affiliates	are	holders	of	5%	or	more	 of the securities or other ownership interests of CCEP). Audit Committee Monitors	the	integrity	of	the	Group’s	financial	statements	and	results	announcements,	the	effectiveness	of	internal	controls	 and risk management, as well as managing the external auditor relationship.  ReadmoreaboutourAuditCommitteeonpages 86–91 Corporate Social Responsibility (CSR) Committee Oversees performance against CCEP’s strategy and goals for CSR, reviews CSR risks facing CCEP, including health and safety and climate change risks, and the practices by which these risks are managed and mitigated, approves sustainability commitments and targets, and monitors and reviews public policy issues that could affect CCEP.  Readmoreaboutsustainabilityonpages 18–36  SeeourSustainabilitygovernanceframeworkonpage 20 Full sustainability performance data for 2021 will be published on our website in May 2022. Nomination Committee Sets selection criteria and recommends candidates for appointment as INEDs, reviews Directors’ suitability for election/re-election	by	shareholders,	considers	Directors’	potential	conflicts	of	interest,	oversees	development	of	a	diverse	 pipeline for senior management and Director succession, and oversees wider people matters for the Group, including culture, diversity, succession, talent and leadership.  ReadmoreaboutourNominationCommitteeonpages 82–85 Remuneration Committee Recommends remuneration policy and framework to the Board and shareholders, recommends remuneration packages for members of the Board to the Board, approves remuneration packages for senior management, reviews workforce remuneration and related policies and principles, and governs employee share schemes.  ReadmoreaboutourRemunerationCommitteeonpages 92–107 Ad hoc Committees – Disclosure Committee – Results and Dividend sub committee Values Included in our Code of Conduct, ways of working and our culture Our Strategy Guided by our growth platform to ensure we generate sustainable shareholder returns CEO Empowered by authority of the Board to put agreed strategy into effect and run CCEP on a day to day basis ELT Team	members	with	defined	 areas of responsibility support and report to the CEO Our people 33,000 employees making, selling and distributing great beverages Stakeholders Including our people, customers, suppliers, franchisors, investors, consumers and communities Board of Directors Provides overall leadership, independent oversight of performance and is accountable to shareholders for the Group’s long-term success 74 Strategic Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FGovernance and Directors’ Report

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Statement of compliance The governance framework of the Company is set out in its Articles of Association (the Articles) and the Shareholders’ Agreement. These provide a high level framework for the Company’s affairs, governance and relationship with its stakeholders and its shareholders. The Articles and frequently asked questions about the governance framework are available on the Company’s website at www.cocacolaep.com/about-us/governance. Statement of compliance with the UK Corporate Governance Code We follow the UKCGC on a comply or explain basis. CCEP is not subject to the UKCGC as it has a standard listing	of	ordinary	shares	on	the	Official	List.	However,	we	 have chosen to comply with the UKCGC where possible and explain areas of non-compliance to demonstrate our commitment to good governance as an integral part of our culture. Save as set out below, CCEP complied with the UKCGC during the year ended 31 December 2021. A copy of the UKCGC is available on the Financial Reporting Council’s (FRC) website: www.frc.org.uk/ directors/corporate-governance-and-stewardship/ uk-corporate-governance-code. Chairman UKCGC provision 9 The Chairman, Sol Daurella, was not considered independent on either her appointment or election, within the	meaning	of	the	UKCGC.	However,	we	benefit	from	her	 vast knowledge of, and long-term commitment to, the Coca-Cola system and her extensive experience and leadership skills, gained from her roles as director and CEO of large public and private institutions across many different sectors. Annual re-election UKCGC provision 18 Sol Daurella, the Chairman, will not be subject to re-election during her nine year tenure following the completion of the Merger. This recognises the importance of her extensive experience and knowledge of the beverage	industry,	and	the	significant	shareholding	of	 Olive Partners, S.A. (Olive Partners) in the Company. To provide stability, none of the INEDs were put up for election at an Annual General Meeting (AGM) before the AGM in 2019 when three INEDs were put up for election. At the AGM in 2020, three INEDs were put up for election and three INEDs were put up for re-election. At the AGM in 2021, three additional INEDs were put up for election so that, in total, all nine INEDs were put up for election or re-election (Jan Bennink, John Bryant, Christine Cross, Nathalie Gaveau, Thomas H. Johnson, Dagmar Kollmann, Mark Price, Dessi Temperley and Garry Watts). This arrangement was in place to ensure effective representation of public shareholders and to retain INEDs’	influence	over	the	Company’s	strategic	direction	 and operation, following the completion of the Merger. From the 2022 AGM, all INEDs will be subject to annual re-election	from	the	point	of	their	first	election	at	an	AGM. Remuneration UKCGC provision 32 The Remuneration Committee is not comprised solely of INEDs, although it is comprised of a majority of INEDs. The Shareholders’ Agreement requires that the Remuneration Committee comprises at least one Director nominated by: – Olive Partners, for as long as it owns at least 15% of the Company – European Refreshments Unlimited Company (ER), a subsidiary of TCCC, for as long as it owns at least 10% of the Company The Remuneration Committee, and its independent Chairman,	benefit	from	the	nominated	Directors’	 extensive understanding of the Group’s market. Remuneration UKCGC provision 33 The Remuneration Committee is not solely responsible for setting the remuneration of the Chairman and CEO. Instead, the Board (excluding any Director whose remuneration is linked to the decision) determines their remuneration, including the Non-executive Directors (NEDs), on the recommendation of the Remuneration Committee and following rigorous analysis and debate. To date, the Board has followed all of the Remuneration Committee’s recommendations. Differences between the UKCGC and the Nasdaq corporate governance rules (the Nasdaq Rules) In 2021, CCEP transferred its US stock exchange listing to Nasdaq from the NYSE. The Company is classed as a Foreign Private Issuer (FPI). It is therefore exempt from most of the Nasdaq Rules that apply to domestic US listed companies, because of its voluntary compliance with the UKCGC. However, under the Nasdaq Rules, the Company is required to disclose differences between its corporate governance practices and those followed by domestic US companies listed on Nasdaq. The differences are summarised below. Director independence The Nasdaq Rules require a majority of the Board to be independent. The UKCGC requires at least half of the Board (excluding the Chairman) to be independent. The Nasdaq Rules contain different tests from the UKCGC for determining whether a director is independent. The independence of CCEP’s NEDs is reviewed by the Board on an annual basis, taking into account the guidance contained in the UKCGC and criteria established by the Board. It has determined that a majority of the Board is independent, without explicitly taking into consideration the independence requirements outlined in the Nasdaq Rules. Board Committees CCEP has a number of committees whose purpose and composition are broadly comparable to the requirements of the Nasdaq Rules for domestic US companies. However, other than the Audit Committee, committee members are not all INEDs, although in all cases the majority are. Each committee has its own terms of reference (broadly equivalent to a charter document) which are reviewed annually and can be found on our website at www.cocacolaep.com/about-us/ governance/ committees. A summary of the terms of reference, roles and activities of the Audit Committee, Nomination Committee and the Remuneration Committee can be found in the Committees’ respective reports. The Remuneration Committee’s terms of reference include responsibility for matters relating to remuneration policy, share-based	incentive	plans,	employee	benefit	plans	and	 implementation of remuneration policy. Audit Committee More information about the Audit Committee is set out in its report, including compliance with the requirements of Rule 10A-3 under the US Securities Exchange Act of 1934, as amended, and Rule 5605(c)(2)(A) of the Nasdaq Rules. The Audit Committee is comprised only of INEDs (complying with the Nasdaq Rules). However, the responsibilities of the Audit Committee (except for applicable mandatory responsibilities under the Sarbanes-Oxley Act) follow the UKCGC’s recommendations rather than the Nasdaq Rules, although they are broadly comparable. One of the Nasdaq’s similar requirements for the Audit Committee states that at least one member of the Audit Committee should	have	accounting	or	related	financial	management	 expertise. The Board has determined that John Bryant, Dagmar Kollmann, Dessi Temperley and Garry Watts possess such expertise and are therefore deemed the audit	committee	financial	experts	as	defined	in	Item	16A	 of Form 20-F. It was further determined that none of the Audit Committee members had participated in the preparation	of	the	financial	statements	of	the	Company	 or any of its subsidiaries. Corporate governance report CONTINUED 75 Strategic Report Financial Statements Other Information Coca-Cola Europacific Partners plc | 2021 Integrated Report and Form 20-FGovernance and Directors’ Report

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Corporate governance report CONTINUED Shareholder approval of equity compensation plans The Nasdaq Rules for domestic US companies require that shareholders must be given the opportunity to vote on all equity compensation plans and material revisions to those plans. CCEP complies with UK requirements that are similar to those of the Nasdaq Rules. However, the Board does not explicitly take into consideration Nasdaq’s	detailed	definition	of	“material	amendments”. Code of Conduct The Nasdaq Rules require relevant domestic US companies to adopt and disclose a code of conduct applicable	to	all	directors,	officers	and	employees.	CCEP	 has a Code of Conduct (CoC) that applies to all Directors and	the	senior	financial	officers	of	the	Group.	If	the	Board	 amends or waives the provisions of the CoC, details of the amendment or waiver will appear on the website. No such waiver or amendment has been made or given to date.  Seewww.ccepcoke.online/code-of-conduct-policy Our CoC applies to all our people. We also expect all third parties who work on our behalf, such as suppliers, vendors, contractors, consultants, distributors and agents, to act in an ethical manner consistent with our CoC and in compliance with our Supplier Guiding Principles. The CoC covers issues such as share dealing, anti-bribery, data protection, environmental regulation, human rights, health, safety, wellbeing and respect for others. It aligns with the UN Global Compact, the US Foreign Corrupt Practices Act, the UK Bribery Act, the UKCGC, the EU General Data Protection Regulation, the Spanish and Portuguese Criminal Codes and Sapin II. CCEP considers that the CoC and related policies address the Nasdaq Rules on the codes of conduct for relevant	domestic	US	companies.	We	received	no	fines	 for CoC violations in 2021.  SeedetailsofCoCReportingonpage 40 NED meetings The Nasdaq Rules require INEDs to meet at regularly scheduled executive sessions at which only independent directors are present at least twice a year. The UKCGC requires NEDs to meet without the Chairman present at least once annually to appraise the Chairman’s performance. The NEDs have regular meetings without management present and in 2021, there were two separate meetings of INEDs. Board leadership and company purpose Role of the Board The Board is primarily responsible for the Group’s strategic plan, risk appetite, systems of internal control and corporate governance policies, to ensure the long-term success of the Group, underpinned by sustainability. To retain control of key decisions and ensure there is a clear division of responsibilities, there is a formal schedule of matters reserved to the Board, which sets out the structure under which the Board manages its responsibilities, and provides guidance on how it discharges its authority and manages its activities. Reserved matters include strategic decisions, approval of annual and long-term business plans, suspension, cessation or abandonment of any material activity of the Group and material acquisitions and disposals. The Board, through the Nomination Committee, assesses and monitors the Group’s culture to ensure it aligns with the Group’s purpose, values and strategy set by the Board.  Readmoreaboutourstrategyonpage 16  SeeourNominationCommittee’sreportonpages 82–85 Stakeholders Stakeholders are important to CCEP and this is recognised by the Board. We use a matrix to help ensure Directors have the right engagement and information to understand stakeholders’ input to our business and our impact on them. This enables the Board to consider stakeholders’ interests in their decision making. Regular engagement with both existing and potential shareholders is important to the Board. On behalf of the Board, our CEO, CFO and the Investor Relations team engage with investors and analysts throughout the year. The Board receives regular updates on the views of shareholders and the Investor Relations programme.  Seeasummaryofourstakeholderengagement on pages 12–15 The terms of reference and remit of the Remuneration Committee include remuneration policy at all levels across the Group aligned with the Company’s long-term strategic goals. The Nomination Committee’s terms of reference and remit include key people issues such as culture, succession planning and diversity. The Chairmen of those committees are responsible for championing, and reporting back to the Board on, these matters and sit on each other’s Committee to ensure seamless coverage of the full range of people matters. The Board also takes the opportunity to engage with our people directly.  ReadmoreintheNominationCommitteereport on pages 82–85 Our people are able to raise any concerns they have, online	or	by	telephone	in	confidence	through	Speak	Up,	 CCEP’s whistleblowing hotline. The Audit Committee updates the Board on whistleblowing arrangements, reports and investigations.  ReadmoreintheAuditCommitteereportonpages 87–91 Board activities during the year The Chairman sets the Board agenda, which consists of the following discussion matters: – Updates from the CEO, the CFO and other key senior executives on the business performance and key business initiatives – Governance matters – Strategy – Diversity – Sustainability – Material expenditure and other Group matters The key areas of focus for the Board’s activities and topics discussed during the year are set out in table 1 on page 77. Strategy remained a key focus for the Board. During the year, the Board considered and debated our future strategy focusing on ESG, retail in a post COVID-19 world	and	growth.	The	Board	also	received	briefings	from	 management on API integration, digital and sustainability. Training and development Training and development opportunities are regularly provided to Directors to ensure they provide constructive challenge to management. There are regular virtual training sessions for Directors on a wide range of topical areas. The programme for 2021 is set out in table 2 on page 78. Conflicts of interest The UK Companies Act 2006 (the Companies Act), the Articles and the Shareholders’ Agreement allow the Directors	to	manage	situational	conflicts	(situations	where	 a	Director	has	an	interest	that	conflicts,	or	may	conflict,	 with our interests). The Nomination Committee considers issues	involving	potential	situational	conflicts	of	interest	 of Directors. Each Director is required to declare any interests	that	may	give	rise	to	a	situational	conflict	of	 interest with CCEP on appointment and subsequently as they	arise.	Directors	are	required	to	r