Coca-Cola FEMSA (NYSE: KOF) lifts Q2 2026 net income 16.9%

Rhea-AI Filing Summary

Coca-Cola FEMSA reported second-quarter 2026 consolidated total revenues of Ps. 76,318 million, up 4.7% year over year, with volume increasing 3.5% to 1,071.8 million unit cases. Gross profit rose 8.8% to Ps. 35,938 million, expanding gross margin by 180 basis points to 47.1%. Operating income grew 9.1% to Ps. 10,654 million, lifting the operating margin to 14.0%. Net income attributable to equity holders increased 16.9% to Ps. 6,211 million, with earnings per share of Ps. 0.37. On a comparable basis excluding currency effects, revenues grew 6.6% and operating income 11.1%.

The Mexico & Central America division posted 0.3% revenue growth to Ps. 45,450 million and 1.4% higher volume, but operating income fell 7.0% and margin contracted to 14.0% as operating expenses rose. South America delivered 11.8% revenue growth to Ps. 30,868 million and 6.9% higher volume, while operating income jumped 46.5% to Ps. 4,303 million, including Ps. 265 million of insurance-claim income, with margin improving to 13.9%. For the first six months of 2026, revenues grew 3.1% to Ps. 147,153 million and operating income 3.6% to Ps. 19,678 million. Net debt including hedges decreased to Ps. 45,030 million, bringing net debt to adjusted EBITDA down to 0.74x.

Positive

• Net income attributable to equity holders rose 16.9% in Q2 2026 to Ps. 6,211 million, as operating income grew 9.1% and the effective tax rate declined to 30.2%, outpacing 4.7% revenue growth.
• The South America division delivered 46.5% operating income growth in Q2 2026 to Ps. 4,303 million, with operating margin expanding 330 basis points to 13.9% on 11.8% revenue growth and 6.9% higher volume.
• Leverage improved as net debt including hedges fell 14.8% to Ps. 45,030 million versus year-end 2025, reducing net debt to adjusted EBITDA to 0.74x from 0.89x.

Negative

• The Mexico & Central America division saw Q2 2026 operating income decline 7.0% to Ps. 6,351 million, with operating margin contracting 110 basis points to 14.0% as operating expenses increased 9.1%, outpacing modest revenue growth.
• Year-to-date 2026 comprehensive financing result expense increased 33.6% to Ps. 3,083 million, driven mainly by higher net interest expense and a swing to a Ps. 79 million loss on financial instruments from a prior Ps. 288 million gain.

Filing Explained

New debt increased second-quarter interest expense, while June 30 liabilities rose even as net debt and leverage declined.

Form 6-K is an interim report for a foreign private issuer. This completed filing reports Coca-Cola FEMSA’s second-quarter 2026 results and says debt issued during the first quarter contributed to higher second-quarter net interest expense of Ps. 1,589 million, versus Ps. 1,475 million a year earlier.

The company’s “comparable” growth figures exclude currency-translation effects from exchange-rate movements, so they are not the same basis as reported Mexican-peso results.

At June 30, 2026, short-term bank loans and notes payable were Ps. 13,527 million, up 70% from Ps. 7,944 million at December 31, 2025; total current liabilities rose 29% to Ps. 86,382 million, while total liabilities rose 15% to Ps. 184,942 million.

The balance sheet also reports net debt including hedges of Ps. 45,030 million, down from Ps. 52,846 million, and net debt to adjusted EBITDA of 0.74 versus 0.89 at year-end.

A separate capital-expenditure footnote says Ps. 7,834 million had been effectively paid by June 30, 2026, compared with Ps. 7,174 million shown in the year-to-date capital-expenditure table.

Key Figures

Total revenues Q2 2026: Ps. 76,318 million Gross profit Q2 2026: Ps. 35,938 million Operating income Q2 2026: Ps. 10,654 million +5 more

8 metrics

Total revenues Q2 2026 Ps. 76,318 million Consolidated second quarter 2026 revenues, up 4.7% year over year

Gross profit Q2 2026 Ps. 35,938 million Consolidated gross profit with 47.1% margin, up 8.8% year over year

Operating income Q2 2026 Ps. 10,654 million Consolidated operating income, 14.0% margin and 9.1% growth vs. Q2 2025

Net income attributable to equity holders Q2 2026 Ps. 6,211 million Net income to equity holders, up 16.9% vs. same quarter of 2025

Earnings per share Q2 2026 Ps. 0.37 per share Quarterly EPS; earnings per unit Ps. 2.96 and per ADS Ps. 29.57

Volume Q2 2026 1,071.8 million unit cases Consolidated beverage volume, a 3.5% increase vs. Q2 2025

Net debt including hedges Ps. 45,030 million Net debt including effect of hedges as of June 30, 2026, down 14.8% vs. Dec. 31, 2025

Net debt / Adjusted EBITDA 0.74x Net debt including hedges divided by adjusted EBITDA as of June 30, 2026

Key Terms

Adjusted EBITDA, comparable, comprehensive financing result, unit cases, +1 more

5 terms

Adjusted EBITDA financial

"Adj. EBITDA (2) | | 15,008 | 13,388 | 12.1% | | 14.4%"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

comparable financial

"Comparable term refers to year‑over‑year change excluding currency translation effects"

A comparable is an outside company, transaction, or financial metric that is similar enough to the one being evaluated to serve as a benchmark for valuation or performance. Investors use comparables the way someone would compare the price and features of similar cars when shopping: they provide a practical point of reference to estimate value, judge relative strength, or spot outliers in earnings, multiples, growth rates, or deal terms.

comprehensive financing result financial

"Comprehensive financing result recorded an expense of Ps. 1,331 million"

unit cases financial

"Volume increased 3.5% to 1,071.8 million-unit cases, driven by growth in most operations"

transactions financial

"Transactions (million transactions) reached 6,383.1 in the second quarter of 2026"

Transactions are exchanges where money, securities, or other assets move from one party to another, covering simple trades like buying or selling stock and larger corporate deals such as mergers, acquisitions, or asset sales. They matter to investors because each transaction can change who owns value, alter a company’s cash, debt or future profits, and signal shifts in strategy or risk—like pieces on a chessboard being moved that change the game's outlook.

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Available on EDGAR 07/27/2026 - 09:14 AM Accepted by SEC EDGAR 07/27/2026 - 09:13 AM Learn about SEC filing dates

FAQ

How did Coca-Cola FEMSA (KOF) perform at the consolidated level in Q2 2026?

Coca-Cola FEMSA generated Ps. 76,318 million in Q2 2026 revenues, up 4.7%, with volume up 3.5% to 1,071.8 million unit cases. Gross profit rose 8.8%, operating income 9.1% to Ps. 10,654 million, and net income attributable to equity holders increased 16.9% to Ps. 6,211 million.

What drove Coca-Cola FEMSA (KOF) profit improvement in Q2 2026?

Profit growth was supported by 180 basis points of gross margin expansion to 47.1%, helped by lower sweetener and PET costs, hedging and currency appreciation, plus operating expense efficiencies. A lower effective tax rate of 30.2%, versus 36.2% a year earlier, also bolstered net income.

How did Coca-Cola FEMSA (KOF) Mexico & Central America division perform in Q2 2026?

Mexico & Central America volume increased 1.4% to 645.9 million unit cases and revenues edged up 0.3% to Ps. 45,450 million. However, operating income declined 7.0% to Ps. 6,351 million, and operating margin fell from 15.1% to 14.0% amid higher marketing and freight expenses.

What were Coca-Cola FEMSA (KOF) South America results in Q2 2026?

South America revenues grew 11.8% to Ps. 30,868 million, with volume up 6.9% to 425.9 million unit cases. Operating income climbed 46.5% to Ps. 4,303 million, including Ps. 265 million in insurance-claim income, lifting operating margin by 330 basis points to 13.9%.

What is Coca-Cola FEMSA (KOF) leverage and net debt as of June 30, 2026?

As of June 30, 2026, net debt including hedges was Ps. 45,030 million, down 14.8% from year-end 2025. Net debt to adjusted EBITDA stood at 0.74x, while adjusted EBITDA to net interest expense was 8.98x, indicating moderate leverage coverage.

How did Coca-Cola FEMSA (KOF) perform year-to-date 2026?

For the first six months of 2026, revenues reached Ps. 147,153 million, up 3.1%, with volume up 2.4% to 2,070.2 million unit cases. Operating income rose 3.6% to Ps. 19,678 million, and net income attributable to equity holders was Ps. 10,553 million, slightly above the prior year.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

For the month of July 2026
Commission File Number 1-12260

COCA-COLA FEMSA, S.A.B. de C.V.

(Translation of registrant’s name into English)

United Mexican States

(Jurisdiction of incorporation or organization)

Calle Mario Pani No. 100,
Santa Fe Cuajimalpa,
Cuajimalpa de Morelos,
05348, Ciudad de México,

México

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F X   Form 40-F     

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1)

Yes    No  X 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7)

Yes    No  X 

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes    No  X 

If "Yes" is marked, indicate below the file number assigned to the registrant in connection with

Rule 12g3-2(b): 82-__.

SECOND QUARTER 2026 RESULTS

INVESTOR RELATIONS Pamela Ortiz | pamela.ortiz@kof.com Natalia Sariñana | natalia.sarinana@kof.com Bryan Silva | bryan.silva@kof.com Emilio Díaz | emilio.diaz@kof.com kofmxinves@kof.com

Mexico City, July 27, 2026, Coca-Cola FEMSA, S.A.B. de C.V. (BMV: KOFUBL, NYSE: KOF) (“Coca-Cola FEMSA”, “KOF” or the “Company”), the largest Coca-Cola franchise bottler in the world by sales volume, announces results for the second quarter of 2026.

SECOND QUARTER HIGHLIGHTS

· Volume increased 3.5%.

· Revenue increased 4.7%; on a currency neutral basis, revenue grew 6.6%.

· Operating income increased 9.1%; on a currency neutral basis, operating income increased 11.1%.

· Majority net income increased 16.9%, driven mainly by an increase in our operating income.

· Earnings per share¹ were Ps. 0.37 (Earnings per unit were Ps. 2.96 and per ADS were Ps. 29.57.).

FIRST SIX MONTHS HIGHLIGHTS

· Volume increased 2.4%.

· Revenue increased 3.1%; on a currency neutral basis, revenue grew 8.1%.

· Operating income increased 3.6%; on a currency neutral basis, operating income grew 8.2%.

· Majority net income increased 1.0%.

· Earnings per share¹ were Ps. 0.63 (Earnings per unit were Ps. 5.02 and per ADS were Ps. 50.23.).

FINANCIAL SUMMARY FOR THE SECOND QUARTER RESULTS
Change vs. same period of last year
		Total Revenues			Gross Profit			Operating Income			Majority Net Income
		2Q26	YTD 2026		2Q26	YTD 2026		2Q26	YTD 2026		2Q26	YTD 2026
As Reported	Consolidated	4.7%	3.1%		8.8%	6.9%		9.1%	3.6%		16.9%	1.0%
	Mexico & Central America	0.3%	(0.5%)		3.9%	2.4%		(7.0%)	(11.6%)
	South America	11.8%	8.4%		17.7%	14.2%		46.5%	31.2%
Comparable (2)	Consolidated	6.6%	8.1%		10.7%	11.9%		11.1%	8.2%
	Mexico & Central America	2.0%	1.7%		5.6%	4.7%		(5.4%)	(9.2%)
	South America	14.1%	18.1%		20.1%	24.4%		49.4%	41.4%

Ian Craig, Coca-Cola FEMSA’s CEO, commented:

“Before commenting on our quarterly results, I would like to express our deepest condolences to everyone affected by the earthquakes in Venezuela. Our thoughts are with the impacted communities, as we provide support to people in need and first responders including Coca-Cola FEMSA de Venezuela employees and their families.

During the second quarter, we delivered a sequential recovery that highlights the strength of Coca-Cola FEMSA’s diversified market presence. Across our territories, we continued to grow the beverage industry, gain market share, and advance our digital agenda. We also leveraged the FIFA World Cup, strengthening brand equity and reinforcing our connection with consumers.

While Mexico continued to navigate a challenging consumer environment and the effects of the excise tax increase, our affordability strategy, segmentation, and disciplined commercial execution enabled us to further strengthen our competitive position. At the same time, South America delivered a solid quarter, with Colombia, Guatemala, and Brazil achieving record second-quarter volumes that ultimately resulted in double digit operating income growth in the business unit.

As we look to the second half of the year, we remain focused on adapting to the evolving consumer environment, accelerating our digital transformation, and leveraging our revenue growth management capabilities. We are confident that these initiatives, together with our disciplined execution and diversified footprint, will enable us to navigate near-term challenges while continuing to generate sustainable long-term growth.”

⁽¹⁾ Quarterly earnings / outstanding shares. Earnings per share (EPS) were calculated using 16,806.7 million shares outstanding. For the convenience of the reader, as a KOFUBL Unit is comprised of 8 shares (3 Series B shares and 5 Series L shares), earnings per unit are equal to EPS multiplied by 8. Each ADS represents 10 KOFUBL Units.

⁽²⁾ Please refer to page 10 for our definition of “comparable” and a description of the factors affecting the comparability of our financial and operating performance.

Coca-Cola FEMSA Reports 2Q26 Results July 27^th, 2026 Page 2 of 17  

RECENT DEVELOPMENTS

· On July 16, 2026, Coca-Cola FEMSA paid the second installment of the ordinary dividend approved for Ps. 0.241875 per share, for a total cash distribution of Ps. 4,065.1 million.

· Coca-Cola FEMSA announces the appointment of Pamela Ortiz as Investor Relations Director, effective August 1, 2026. She previously served as Investor Relations Manager at FEMSA and has extensive experience in capital markets and stakeholder engagement. For his part, Jorge Collazo, who has served as Investor Relations Director since 2022 and has been part of the Investor Relations team since 2016, is assuming a new role as Strategic Planning Director for Coca-Cola FEMSA Brazil.

· The Mexican Stock Exchange (BMV) awarded Coca-Cola FEMSA the prestigious “Best Total Score in Mexico CSA 2025” award, reaffirming our position as the leading sustainability performer among all listed companies evaluated. The Company also received the “Best Total Environmental CSA Score” and the “Best Total Governance & Economic CSA Score” distinctions, based on our strong performance in S&P Global’s Corporate Sustainability Assessment (CSA), one of the world’s most rigorous sustainability evaluations. These recognitions reflect the consistent execution of our sustainability strategy and its integration across our operations, governance, and growth agenda, as well as our commitment to creating long-term value through disciplined management, transparency, and sustainable business practices.

CONFERENCE CALL INFORMATION

 

Coca-Cola FEMSA Reports 2Q26 Results July 27^th, 2026 Page 3 of 17  

CONSOLIDATED SECOND QUARTER RESULTS

CONSOLIDATED SECOND QUARTER RESULTS
		As Reported				Comparable (1)
Expressed in millions of Mexican pesos		2Q 2026	2Q 2025	Δ%		Δ%
Total revenues		76,318	72,917	4.7%		6.6%
Gross profit		35,938	33,042	8.8%		10.7%
Operating income		10,654	9,767	9.1%		11.1%
Adj. EBITDA (2)		15,008	13,388	12.1%		14.4%

Volume increased 3.5% to 1,071.8 million-unit cases, driven by volume growth in most of our operations that was partially offset by a decline in Argentina.

Total revenues increased 4.7% to Ps. 76,318 million. This increase was driven mainly by volume growth, coupled with revenue management initiatives, which were partially offset by unfavorable mix and negative translation effects from most our operating currencies into Mexican pesos. Excluding currency translation effects, total revenues increased 6.6%.

Gross profit increased 8.8% to Ps. 35,938 million, and gross margin expanded 180 basis points to 47.1%. This expansion was driven mainly by lower sweetener and PET costs supported our raw material hedging initiatives, coupled with the appreciation of most of our operating currencies as applied to our U.S. dollar-denominated raw material costs. These effects were partially offset by higher aluminum costs, coupled with unfavorable mix effects. Excluding currency translation effects, gross profit increased 10.7%.

Operating income increased 9.1% to Ps. 10,654 million, and operating margin expanded 60 basis points to 14.0%. This margin expansion was driven mainly by operating leverage and expense efficiencies such as labor and rent. These effects were partially offset by an increase in freight, marketing, and depreciation. Moreover, we registered a lower operative foreign exchange gain in the quarter as compared to the same period of the previous year. In addition, this quarter we recognized an income of Ps. 265 million, net of expenses, related to insurance claims in Brazil. Excluding currency translation effects, operating income increased 11.1%.

⁽¹⁾ Please refer to page 10 for our definition of “comparable” and a description of the factors affecting the comparability of our financial and operating performance.

⁽²⁾ Adjusted EBITDA = operating income + depreciation + amortization & other operating non-cash charges.

Coca-Cola FEMSA Reports 2Q26 Results July 27^th, 2026 Page 4 of 17  

Comprehensive financing result recorded an expense of Ps. 1,331 million, compared to an expense of Ps. 1,189 million in the previous year. This increase was driven mainly by a higher interest expense, net, resulting from the issuance of a new debt during the first quarter of 2026 in Mexican pesos. Moreover, we recorded an increase in interest income because of a higher cash position in key markets.

In addition, we recorded a lower gain in financial instruments of Ps. 88 million, as compared to a gain of Ps. 154 million recorded in the same period of the previous year. This lower gain was driven mainly by the valuation of matured financial instruments and lower rates in Brazil.

Additionally, we recognized a gain in monetary positions in inflationary subsidiaries related to Argentina for Ps. 74 million as compared to a gain of Ps. 77 million recorded in the same period of the previous year.

These effects were partially offset by a foreign exchange gain of Ps. 96 million in the second quarter of 2026 as compared to a gain of Ps. 55 million in the same period of the previous year. The gain this year was driven mainly by the quarterly appreciation of the Mexican peso as applied to our U.S. dollar-denominated net debt position.

Income tax as a percentage of income before taxes was 30.2% as compared to 36.2% during the same period of 2025. This decrease was driven mainly by non-recurring effects that resulted in higher income tax in the previous year, coupled with higher tax recovery.

Net income attributable to equity holders of the company increased 16.9% to reach Ps. 6,211 million. This increase was driven mainly by an increase in our operating income and a lower income tax, partially offset by an increase in our comprehensive financing result. Earnings per share¹ were Ps. 0.37 (Earnings per unit were Ps. 2.96 and per ADS were Ps. 29.57.).

⁽¹⁾ Quarterly earnings / outstanding shares. Earnings per share (EPS) were calculated using 16,806.7 million shares outstanding. For the convenience of the reader, as a KOFUBL Unit is comprised of 8 shares (3 Series B shares and 5 Series L shares), earnings per unit are equal to EPS multiplied by 8. Each ADS represents 10 KOFUBL Units.

Coca-Cola FEMSA Reports 2Q26 Results July 27^th, 2026 Page 5 of 17  

CONSOLIDATED FIRST SIX MONTHS RESULTS

CONSOLIDATED FIRST SIX MONTHS RESULTS
		As Reported				Comparable (1)
Expressed in millions of Mexican pesos		YTD 2026	YTD 2025	Δ%		Δ%
Total revenues		147,153	142,703	3.1%		8.1%
Gross profit		69,153	64,716	6.9%		11.9%
Operating income		19,678	18,986	3.6%		8.2%
Adj. EBITDA (2)		28,367	26,584	6.7%		12.0%

Volume increased 2.4% to 2,070.2 million-unit cases, driven mainly by volume increases in most of our operations, partially offset by a slight volume decline in Mexico.

Total revenues increased 3.1% to Ps. 147,153 million. This increase was driven mainly by volume growth, partially offset by unfavorable currency translation effects from most of our operating currencies into Mexican pesos and mix effects. Excluding currency translation effects, total revenues increased 8.1%.

Gross profit increased 6.9% to Ps. 69,153 million, and gross margin expanded 160 basis points to 47.0%. This performance was driven mainly by lower sweetener costs, top-line growth, raw material hedging initiatives, and the appreciation of most of our operating currencies as applied to our U.S. dollar-denominated raw material costs. Excluding currency translation effects, gross profit increased 11.9%.

Operating income increased 3.6% to Ps. 19,678 million, and operating margin expanded 10 basis points to 13.4%. This margin expansion was driven mainly by higher operating leverage; in addition, we recognized an income related to insurance claims in Brazil and Mexico for a total of Ps. 360 million. These effects were offset by higher marketing, depreciation, freight, and maintenance expenses. Moreover, we registered a lower operative foreign exchange gain in the period as compared to the same period of the previous year. Excluding currency translation effects, operating income increased 8.2%.

⁽¹⁾ Please refer to page 10 for our definition of “comparable” and a description of the factors affecting the comparability of our financial and operating performance.

⁽²⁾ Adjusted EBITDA = operating income + depreciation + amortization & other operating non-cash charges.

Coca-Cola FEMSA Reports 2Q26 Results July 27^th, 2026 Page 6 of 17  

Comprehensive financing result recorded an expense of Ps. 3,083 million, compared to an expense of Ps. 2,308 million in the same period of the previous year. This increase was driven mainly by a higher interest expense, net, of Ps. 3,159 million as compared to Ps. 2,749 million in the same period of the previous year resulting from higher interest expense, driven mainly by new debt issued during the second quarter of 2025 and the first quarter of 2026.

Additionally, we recorded a loss in financial instruments of Ps. 79 million as compared to a gain of Ps. 288 million in the same period of the previous year, resulting from the market value of financial instruments.

These effects were partially offset by a higher gain in monetary positions in inflationary subsidiaries related to Argentina for Ps. 175 million as compared to a gain of Ps. 154 million in the same period of the previous year.

Income tax as a percentage of income before taxes was 33.1% as compared to 34.8% during the same period of 2025. This decrease was driven mainly by non-recurring effects that resulted in higher income tax in the previous year, coupled with higher tax recovery.

Net income attributable to equity holders of the company was Ps. 10,553 million as compared to Ps 10,450 million during the same period of the previous year. This increase was driven mainly by an increase in our operating income, partially offset by a higher comprehensive financing result. Earnings per share¹ were Ps. 0.63 (Earnings per unit were Ps. 5.02 and per ADS were Ps. 50.23.).

Coca-Cola FEMSA Reports 2Q26 Results July 27^th, 2026 Page 7 of 17  

MEXICO & CENTRAL AMERICA DIVISION SECOND QUARTER RESULTS

(Mexico, Guatemala, Costa Rica, Panama, and Nicaragua)

 

MEXICO & CENTRAL AMERICA DIVISION RESULTS
		As Reported				Comparable (1)
Expressed in millions of Mexican pesos		2Q 2026	2Q 2025	Δ%		Δ%
Total revenues		45,450	45,306	0.3%		2.0%
Gross profit		22,241	21,404	3.9%		5.6%
Operating income		6,351	6,829	(7.0%)		(5.4%)
Adj. EBITDA (2)		8,956	8,926	0.3%		2.2%

Volume increased 1.4% to 645.9 million-unit cases, driven by volume growth in all our territories in the division.

Total revenues increased 0.3% to Ps. 45,450 million. This performance was driven mainly by volume increases, partially offset by unfavorable mix and currency translation effects from all our operating currencies in the division into Mexican pesos. Excluding currency translation effects, total revenues increased 2.0%.

Gross profit increased 3.9% to Ps. 22,241 million, and gross margin expanded 170 basis points to 48.9%. This margin expansion was driven mainly by lower sweetener and PET costs as compared to the previous year, coupled with the appreciation of all the currencies in the division as applied to our U.S. dollar-denominated raw material costs. These effects were partially offset by unfavorable mix effects. Excluding currency translation, gross profit increased 5.6%.

Operating income decreased 7.0% to Ps. 6,351 million, and operating margin contracted 110 basis points to 14.0%. This operating margin contraction was driven mainly by a lower operating leverage as total operating expenses increased 9.1%, outpacing revenue growth. The increase in operating expenses was driven mainly by marketing and freight expenses. In addition, this year we reported a lower operating foreign exchange gain as compared with the same period of the previous year. These effects were partially offset by labor expense efficiencies. Excluding currency translation effects, operating income decreased 5.4%.

⁽¹⁾ Please refer to page 10 for our definition of “comparable” and a description of the factors affecting the comparability of our financial and operating performance.

⁽²⁾ Adjusted EBITDA = operating income + depreciation + amortization & other operating non-cash charges.

Coca-Cola FEMSA Reports 2Q26 Results July 27^th, 2026 Page 8 of 17  

SOUTH AMERICA DIVISION SECOND QUARTER RESULTS

(Brazil, Argentina, Colombia, and Uruguay)

 

SOUTH AMERICA DIVISION RESULTS
		As Reported				Comparable (1)
Expressed in millions of Mexican pesos		2Q 2026	2Q 2025	Δ%		Δ%
Total revenues		30,868	27,611	11.8%		14.1%
Gross profit		13,697	11,639	17.7%		20.1%
Operating income		4,303	2,937	46.5%		49.4%
Adj. EBITDA (2)		6,053	4,462	35.6%		38.9%

Volume increased 6.9% to 425.9 million-unit cases, driven by volume growth of 17.7% in Colombia and 5.2% in Brazil, partially offset by a volume decline in Argentina.

Total revenues increased 11.8% to Ps. 30,868 million. This increase was driven mainly by volume growth, revenue management initiatives, and favorable mix effects, partially offset by an unfavorable currency translation effect from most of our operating currencies in the division into Mexican pesos. Excluding currency translation effects, total revenues increased 14.1%.

Gross profit increased 17.7% to Ps. 13,697 million, and gross margin expanded 220 basis points to 44.4%. This expansion was driven mainly by lower sweetener and PET costs as compared to the previous year, coupled with the appreciation of most of our operating currencies as applied to our U.S. dollar-denominated raw material costs. These effects were partially offset by higher aluminum and secondary packaging costs. Excluding currency translation effects, gross profit increased 20.1%.

Operating income increased 46.5% to Ps. 4,303 million, resulting in an operating margin expansion of 330 basis points to 13.9%. Our operating income includes the recognition of insurance claims in Brazil, net of expenses, for Ps. 265 million. This operating margin increase was driven mainly by operating leverage and operating expense efficiencies such as labor and rentals. These effects were partially offset by higher expenses such as marketing and freight. Excluding currency translation effects, operating income increased 49.4%.

⁽¹⁾ Please refer to page 10 for our definition of “comparable” and a description of the factors affecting the comparability of our financial and operating performance.

⁽²⁾ Adjusted EBITDA = operating income + depreciation + amortization & other operating non-cash charges.

Coca-Cola FEMSA Reports 2Q26 Results July 27^th, 2026 Page 9 of 17  

DEFINITIONS

Volume is expressed in unit cases. Unit case refers to 192 ounces of finished beverage product (24 eight-ounce servings) and, when applied to soda fountains, refers to the volume of syrup, powders, and concentrate that is required to produce 192 ounces of finished beverage product.

Transactions refer to the number of single units (e.g., a can or a bottle) sold, regardless of their size or volume or whether they are sold individually or in multipacks, except for soda fountains, which represent multiple transactions based on a standard 12 oz. serving.

Operating income is a non-GAAP financial measure computed as “gross profit – operating expenses – other operating expenses, net + operative equity method (gain) loss in associates.”

Adjusted EBITDA is a non-GAAP financial measure computed as “operating income + depreciation + amortization & other operating non-cash charges.”

Earnings per share are equal to “quarterly earnings / shares outstanding.” Earnings per share (EPS) calculated using 16,806,658,096 shares outstanding. For the convenience of the reader, as a KOFUBL Unit is comprised of 8 shares (3 Series B shares and 5 Series L shares), earnings per unit are equal to EPS multiplied by 8. Each ADS represents 10 KOFUBL Units.

COMPARABILITY

Our “comparable” term means, with respect to a year-over-year comparison, the change of a given measure excluding translation effects resulting from exchange rate movements. In preparing this measure, management has used its best judgment, estimates, and assumptions to maintain comparability.

Due to the average depreciation of the Argentine peso and most of the operating currencies relative to the Mexican peso in the second quarter of 2026, as compared to the same period of 2025, we had an unfavorable currency translation effect into Mexican pesos. Please see page 17 for exchange rate fluctuations.

Coca-Cola FEMSA Reports 2Q26 Results July 27^th, 2026 Page 10 of 17  

ABOUT THE COMPANY

Stock listing information: Mexican Stock Exchange, Ticker: KOFUBL | NYSE (ADS), Ticker: KOF | Ratio of KOFUBL to KOF = 10:1

Coca-Cola FEMSA files reports, including annual reports and other information, with the U.S. Securities and Exchange Commission, or the “SEC”, and the Mexican Stock Exchange (Bolsa Mexicana de Valores, or the “BMV”) pursuant to the rules and regulations of the SEC (that apply to foreign private issuers) and of the BMV. Filings we make electronically with the SEC and the BMV are available to the public on the Internet at the SEC’s website at www.sec.gov, the BMV’s website at www.bmv.com.mx, and our website at www.coca-colafemsa.com.

Coca-Cola FEMSA, S.A.B. de C.V. is the largest Coca-Cola franchise bottler in the world by sales volume. The Company produces and distributes trademark beverages of The Coca-Cola Company, offering a wide portfolio to more than 268 million consumers. With over 90,000 employees, the Company markets and sells approximately 4.2-billion-unit cases through more than 2.1 million points of sale a year. Operating 55 manufacturing plants and 256 distribution centers, Coca-Cola FEMSA is committed to generating economic, social, and environmental value for all its stakeholders across the value chain. The Company is a member of the Dow Jones Best-In-Class World Index, Dow Jones Best-In-Class MILA Pacific Alliance Index, FTSE4Good Emerging Index, S&P/BMV Total Mexico ESG Index, and the MSCI ACWI Index. Its operations encompass certain territories in Mexico, Brazil, Guatemala, Colombia, and Argentina and, nationwide, in Costa Rica, Nicaragua, Panama, Uruguay and, in Venezuela, through an investment in Coca-Cola FEMSA de Venezuela, S.A. For further information, please visit www.coca-colafemsa.com

ADDITIONAL INFORMATION

All the financial information presented in this report was prepared under International Financial Reporting Standards (IFRS).

This news release may contain forward-looking statements concerning Coca-Cola FEMSA’s future performance, which should be considered as good faith estimates by Coca-Cola FEMSA. These forward-looking statements reflect management’s expectations and are based upon currently available data. Actual results are subject to future events and uncertainties, many of which are outside Coca-Cola FEMSA’s control, which could materially impact the Company’s actual performance. References herein to “US$” are to United States dollars. This news release contains translations of certain Mexican peso amounts into U.S. dollars for the convenience of the reader. These translations should not be construed as representations that Mexican peso amounts represent such U.S. dollar amounts or could be converted into U.S. dollars at the rate indicated.

(6 pages of tables to follow)

Coca-Cola FEMSA Reports 2Q26 Results July 27^th, 2026 Page 11 of 17  

COCA-COLA FEMSA
CONSOLIDATED INCOME STATEMENT
Millions of Pesos (1)
		For the Second Quarter of:							For the first Six Months of:
		2026	% of Rev.	2025	% of Rev.	Δ% Reported	Δ% Comparable (7)		2026	% of Rev.	2025	% of Rev.	Δ% Reported	Δ% Comparable (7)
Transactions (million transactions)		6,383.1		6,131.9		4.1%	4.1%		12,373.9		12,053.7		2.7%	2.7%
Volume (million unit cases)		1,071.8		1,035.3		3.5%	3.5%		2,070.2		2,021.8		2.4%	2.4%
Average price per unit case		69.23		68.65		0.9%			68.90		68.63		0.4%
Net revenues		76,290		72,852		4.7%			146,830		142,556		3.0%
Other operating revenues		28		65		-56.9%			322		147		120.0%
Total revenues (2)		76,318	100.0%	72,917	100.0%	4.7%	6.6%		147,153	100.0%	142,703	100.0%	3.1%	8.1%
Cost of goods sold		40,380	52.9%	39,875	54.7%	1.3%			78,000	53.0%	77,987	54.6%	0.0%
Gross profit		35,938	47.1%	33,042	45.3%	8.8%	10.7%		69,153	47.0%	64,716	45.4%	6.9%	11.9%
Operating expenses		25,859	33.9%	23,679	32.5%	9.2%			49,971	34.0%	46,029	32.3%	8.6%
Other operative expenses, net		(448)	0.6%	(291)	0.4%	53.9%			(272)	0.2%	(109)	0.1%	149.2%
Operative equity method (gain) loss in associates(3)		(126)	0.2%	(112)	0.2%	12.9%			(223)	0.2%	(190)	0.1%	17.8%
Operating income (5)		10,654	14.0%	9,767	13.4%	9.1%	11.1%		19,678	13.4%	18,986	13.3%	3.6%	8.2%
Other non operative expenses, net		132	0.2%	99	0.1%	32.9%			(30)	0.0%	125	0.1%	NA
Non Operative equity method (gain) loss in associates (4)		(55)	0.1%	(54)	0.1%	1.3%			(37)	0.0%	(130)	0.1%	-71.8%
Interest expense		2,273		2,101		8.2%			4,356		3,963		9.9%
Interest income		684		626		9.2%			1,198		1,214		-1.4%
Interest expense, net		1,589		1,475		7.7%			3,159		2,749		14.9%
Foreign exchange loss (gain)		(96)		(55)		73.3%			20		1		1673.4%
Loss (gain) on monetary position in inflationary subsidiaries		(74)		(77)		-3.2%			(175)		(154)		13.6%
Market value (gain) loss on financial instruments		(88)		(154)		-42.5%			79		(288)		NA
Comprehensive financing result		1,331		1,189		11.9%			3,083		2,308		33.6%
Income before taxes		9,246		8,532		8.4%			16,661		16,684		-0.1%
Income taxes		2,741		3,029		-9.5%			5,422		5,691		-4.7%
Result of discontinued operations		-		-		NA			-		-		NA
Consolidated net income		6,505		5,503		18.2%			11,239		10,993		2.2%
Net income attributable to equity holders of the company		6,211	8.1%	5,312	7.3%	16.9%	19.5%		10,553	7.2%	10,450	7.3%	1.0%	5.5%
Non-controlling interest		293	0.4%	191	0.3%	53.8%			686	0.5%	543	0.4%	26.3%
Adj. EBITDA & CAPEX		2026	% of Rev.	2025	% of Rev.	Δ% Reported	Δ% Comparable (7)		2026	% of Rev.	2025	% of Rev.	Δ% Reported	Δ% Comparable (7)
Operating income (5)		10,654	14.0%	9,767	13.4%	9.1%	11.1%		19,678	13.4%	18,986	13.3%	3.6%	8.2%
Depreciation		3,432		3,160		8.6%			6,834		6,259		9.2%
Amortization and other operative non-cash charges		923		461		100.0%			1,856		1,339		38.6%
Adj. EBITDA (5)(6)		15,008	19.7%	13,388	18.4%	12.1%	14.4%		28,367	19.3%	26,584	18.6%	6.7%	12.0%
CAPEX(8)		4,035		5,404		-25.3%			7,174		9,632		-25.5%

⁽¹⁾ Except volume and average price per unit case figures.

⁽²⁾ Please refer to pages 15 and 16 for revenue breakdown.

⁽³⁾ Includes equity method in Jugos del Valle and Leão Alimentos, among others.

⁽⁴⁾ Includes equity method in PIASA, IEQSA, Beta San Miguel, IMER, and KSP Participacoes, among others.

⁽⁵⁾ The operating income and adjusted EBITDA lines are presented as non-GAAP measures for the convenience of the reader.

⁽⁶⁾ Adjusted EBITDA = operating income + depreciation, amortization & other operating non-cash charges.

⁽⁷⁾ Please refer to page 10 for our definition of “comparable” and a description of the factors affecting the comparability of our financial and operating performance.

⁽⁸⁾ As of June 30, 2026, the investment in fixed assets effectively paid is equivalent to Ps. 7,834 million.

Coca-Cola FEMSA Reports 2Q26 Results July 27^th, 2026 Page 12 of 17  

MEXICO & CENTRAL AMERICA DIVISION
RESULTS OF OPERATIONS
Millions of Pesos (1)
		For the Second Quarter of:							For the first Six Months of:
		2026	% of Rev.	2025	% of Rev.	Δ% Reported	Δ% Comparable (6)		2026	% of Rev.	2025	% of Rev.	Δ% Reported	Δ% Comparable (6)
Transactions (million transactions)		3,311.8		3,279.8		1.0%	1.0%		6,127.2		6,182.9		-0.9%	-0.9%
Volume (million unit cases)		645.9		636.9		1.4%	1.4%		1,190.4		1,190.2		0.0%	0.0%
Average price per unit case		69.27		70.42		-1.6%			70.00		70.73		-1.0%
Net revenues		45,435		45,297					84,541		84,959
Other operating revenues		15		9					26		16
Total Revenues (2)		45,450	100.0%	45,306	100.0%	0.3%	2.0%		84,567	100.0%	84,975	100.0%	-0.5%	1.7%
Cost of goods sold		23,209	51.1%	23,902	52.8%				43,305	51.2%	44,686	52.6%
Gross profit		22,241	48.9%	21,404	47.2%	3.9%	5.6%		41,262	48.8%	40,289	47.4%	2.4%	4.7%
Operating expenses		15,960	35.1%	14,973	33.0%				30,439	36.0%	28,334	33.3%
Other operative expenses, net		27	0.1%	(320)	0.7%				159	0.2%	(163)	0.2%
Operative equity method (gain) loss in associates (3)		(96)	0.2%	(79)	0.2%				(148)	0.2%	(110)	0.1%
Operating income (4)		6,351	14.0%	6,829	15.1%	-7.0%	-5.4%		10,812	12.8%	12,229	14.4%	-11.6%	-9.2%
Depreciation, amortization & other operating non-cash charges		2,605	5.7%	2,096	4.6%				5,271	6.2%	4,605	5.4%
Adj. EBITDA (4)(5)		8,956	19.7%	8,926	19.7%	0.3%	2.2%		16,083	19.0%	16,834	19.8%	-4.5%	-1.9%

⁽¹⁾ Except volume and average price per unit case figures.

⁽²⁾ Please refer to pages 15 and 16 for revenue breakdown.

⁽³⁾ Includes equity method in Jugos del Valle, among others.

⁽⁴⁾ The operating income and adjusted EBITDA lines are presented as non-GAAP measures for the convenience of the reader.

⁽⁵⁾ Adjusted EBITDA = operating income + depreciation, amortization & other operating non-cash charges.

⁽⁶⁾ Please refer to page 10 for our definition of “comparable” and a description of the factors affecting the comparability of our financial and operating performance.

SOUTH AMERICA DIVISION
RESULTS OF OPERATIONS
Millions of Pesos (1)
		For the Second Quarter of:							For the first Six Months of:
		2026	% of Rev.	2025	% of Rev.	Δ% Reported	Δ% Comparable (6)		2026	% of Rev.	2025	% of Rev.	Δ% Reported	Δ% Comparable (6)
Transactions (million transactions)		3,071.3		2,852.1		7.7%	7.7%		6,246.8		5,870.8		6.4%	6.4%
Volume (million unit cases)		425.9		398.4		6.9%	6.9%		879.8		831.6		5.8%	5.8%
Average price per unit case		69.18		65.81		5.1%			67.42		65.63		2.7%
Net revenues		30,855		27,554					62,289		57,596
Other operating revenues		13		56					297		131
Total Revenues (2)		30,868	100.0%	27,611	100.0%	11.8%	14.1%		62,586	100.0%	57,727	100.0%	8.4%	18.1%
Cost of goods sold		17,171	55.6%	15,972	57.8%				34,694	55.4%	33,301	57.7%
Gross profit		13,697	44.4%	11,639	42.2%	17.7%	20.1%		27,891	44.6%	24,427	42.3%	14.2%	24.4%
Operating expenses		9,899	32.1%	8,705	31.5%				19,532	31.2%	17,695	30.7%
Other operative expenses, net		(475)	1.5%	28	0.1%				(431)	0.7%	54	0.1%
Operative equity method (gain) loss in associates (3)		(30)	0.1%	(32)	0.1%				(75)	0.1%	(80)	0.1%
Operating income (4)		4,303	13.9%	2,937	10.6%	46.5%	49.4%		8,866	14.2%	6,757	11.7%	31.2%	41.4%
Depreciation, amortization & other operating non-cash charges		1,750	5.7%	1,525	5.5%				3,418	5.5%	2,993	5.2%
Adj. EBITDA (4)(5)		6,053	19.6%	4,462	16.2%	35.6%	38.9%		12,284	19.6%	9,750	16.9%	26.0%	37.7%

⁽¹⁾ Except volume and average price per unit case figures.

⁽²⁾ Please refer to pages 15 and 16 for revenue breakdown.

⁽³⁾ Includes equity method in Leão Alimentos, among others.

⁽⁴⁾ The operating income and adjusted EBITDA lines are presented as non-GAAP measures for the convenience of the reader.

⁽⁵⁾ Adjusted EBITDA = operating income + depreciation, amortization & other operating non-cash charges.

⁽⁶⁾ Please refer to page 10 for our definition of “comparable” and a description of the factors affecting the comparability of our financial and operating performance.

Coca-Cola FEMSA Reports 2Q26 Results July 27^th, 2026 Page 13 of 17  

COCA-COLA FEMSA
CONSOLIDATED BALANCE SHEET
Millions of Pesos
Assets		Jun-26	Dec-25	% Var.		Liabilities & Equity		Jun-26	Dec-25	% Var.
Current Assets						Current Liabilities
Cash, cash equivalents and marketable securities						Short-term bank loans and notes payable		13,527	7,944	70%
		43,032	28,067	53%		Suppliers		28,656	31,898	-10%
Total accounts receivable		18,179	22,146	-18%		Short-term leasing Liabilities		925	631	47%
Inventories		14,637	14,014	4%		Other current liabilities		43,274	26,284	65%
Other current assets		14,250	10,343	38%		Total current liabilities		86,382	66,757	29%
Total current assets		90,098	74,570	21%		Non-Current Liabilities		-	-
Non-Current Assets		-	-			Long-term bank loans and notes payable		72,098	71,834	0%
Property, plant and equipment		181,049	174,289	4%		Long Term Leasing Liabilities		2,915	2,273	28%
Accumulated depreciation		(69,833)	(65,159)	7%		Other long-term liabilities		23,548	19,647	20%
Total property, plant and equipment, net		111,216	109,130	2%		Total liabilities		184,942	160,511	15%
Right of use assets		3,591	2,617	37%		Equity		-	-
Investment in shares		10,685	10,588	1%		Non-controlling interest		8,737	7,827	12%
Intangible assets and other assets		103,546	102,356	1%		Total controlling interest		142,580	146,201	-2%
Other non-current assets		17,123	15,278	12%		Total equity		151,317	154,029	-2%
Total Assets		336,259	314,539	7%		Total Liabilities and Equity		336,259	314,539	7%
		June 30, 2026
Debt Mix		% Total Debt (1)	% Interest Rate Floating (1) (2)	Average Rate		Debt Maturity Profile
Currency
Mexican Pesos		63.7%	4.1%	8.8%
U.S. Dollars		13.8%	41.1%	3.9%
Colombian Pesos		1.7%	81.3%	12.5%
Brazilian Reals		20.0%	59.0%	9.0%
Argentine Pesos		0.7%	0.0%	31.5%
Total Debt		100%	24.3%	8.0%
(1) After giving effect to swaps.
(2) Calculated  based on the  weighting of the outstanding debt mix for each year.
Financial Ratios		Jun 30, 2026	Dec 31, 2025	Δ%
Net debt including effect of hedges (1)(3)		45,030	52,846	-14.8%
Net debt including effect of hedges / Adj. EBITDA (1)(3)		0.74	0.89
Adj. EBITDA/ Interest expense, net (1)		8.98	10.26
Capitalization (2)		38.3%	35.4%
(1) Net debt = total debt - cash
(2) Total debt / (total debt + shareholders' equity)
(3)  After giving effect to swaps.

Coca-Cola FEMSA Reports 2Q26 Results July 27^th, 2026 Page 14 of 17  

COCA-COLA FEMSA
QUARTERLY- VOLUME, TRANSACTIONS & REVENUES
Volume
		2Q 2026						2Q 2025						YoY
		Sparkling	Water (1)	Bulk (2)	Stills	Total		Sparkling	Water (1)	Bulk (2)	Stills	Total		Δ %
Mexico		366.3	39.8	95.3	43.4	544.8		359.7	37.7	98.5	43.5	539.4		1.0%
Guatemala		47.5	2.7	0.5	2.4	53.1		46.1	2.2	0.8	2.3	51.3		3.4%
CAM South		39.2	2.4	0.2	6.2	48.0		38.0	2.2	0.2	5.9	46.2		4.0%
Mexico and Central America		453.0	45.0	95.9	52.0	645.9		443.7	42.1	99.4	51.7	636.9		1.4%
Colombia		74.7	11.6	3.7	7.3	97.2		63.5	9.6	3.5	5.9	82.6		17.7%
Brazil (3)		230.6	18.6	2.0	27.9	279.2		223.2	17.7	1.8	22.7	265.3		5.2%
Argentina		27.9	4.8	1.6	4.0	38.2		29.1	5.0	1.4	3.8	39.3		-2.8%
Uruguay		9.0	1.6	-	0.7	11.3		9.0	1.5	-	0.7	11.2		0.6%
South America		342.1	36.6	7.3	39.9	425.9		324.7	33.9	6.7	33.1	398.4		6.9%
TOTAL		795.2	81.6	103.2	91.9	1,071.8		768.4	76.0	106.1	84.8	1,035.3		3.5%
(1) Excludes water presentations larger than 5.0 Lt ; includes flavored water.
(2) Bulk Water  = Still bottled water in 5.0, 19.0 and 20.0 - liter packaging presentations; includes flavored water
Transactions
		2Q 2026						2Q 2025						YoY
		Sparkling	Water		Stills	Total		Sparkling	Water		Stills	Total		Δ %
Mexico		1,965.9	285.0		306.5	2,557.5		1,978.1	265.1		298.5	2,541.7		0.6%
Guatemala		345.4	25.5		25.7	396.7		346.8	21.3		24.5	392.6		1.0%
CAM South		281.9	15.5		60.3	357.7		273.6	14.2		57.7	345.5		3.5%
Mexico and Central America		2,593.3	326.0		392.5	3,311.8		2,598.5	300.6		380.7	3,279.8		1.0%
Colombia		541.8	114.2		53.4	709.4		470.8	96.9		45.8	613.5		15.6%
Brazil (3)		1,615.8	162.8		319.1	2,097.8		1,547.0	154.6		266.2	1,967.8		6.6%
Argentina		149.1	27.0		32.0	208.1		152.0	30.1		32.0	214.0		-2.7%
Uruguay		44.1	6.1		5.8	56.0		45.3	5.9		5.6	56.8		-1.4%
South America		2,350.9	310.2		410.2	3,071.3		2,215.0	287.4		349.6	2,852.1		7.7%
TOTAL		4,944.2	636.2		802.7	6,383.1		4,813.5	588.0		730.4	6,131.9		4.1%
Revenues
Expressed in million Mexican Pesos		2Q 2026	2Q 2025	Δ %
Mexico		36,713	36,629	0.2%
Guatemala		4,269	4,458	-4.3%
CAM South		4,468	4,218	5.9%
Mexico and Central America		45,450	45,306	0.3%
Colombia		6,593	5,384	22.4%
Brazil (4)		20,582	18,359	12.1%
Argentina		2,498	2,653	-5.8%
Uruguay		1,196	1,215	-1.6%
South America		30,868	27,611	11.8%
TOTAL		76,318	72,917	4.7%
(3) Volume and transactions in Brazil do not include beer
(4) Brazil includes beer revenues of Ps. 1,140.1 million for the second quarter of 2026 and Ps. 1,025.2 million for the same period of the previous year.

 

⁽¹⁾ Volume is expressed in unit cases. Unit case refers to 192 ounces of finished beverage product (24 eight-ounce servings) and, when applied to soda fountains, refers to the volume of syrup, powders, and concentrate that is required to produce 192 ounces of finished beverage product.

⁽²⁾ Transactions refer to the number of single units (e.g., a can or a bottle) sold, regardless of their size or volume or whether they are sold individually or in multipacks, except for soda fountains, which represent multiple transactions based on a standard 12 oz. serving.

Coca-Cola FEMSA Reports 2Q26 Results July 27^th, 2026 Page 15 of 17  

COCA-COLA FEMSA
YTD- VOLUME, TRANSACTIONS & REVENUES
Volume
		YTD 2026						YTD 2025						YoY
		Sparkling	Water (1)	Bulk (2)	Stills	Total		Sparkling	Water (1)	Bulk (2)	Stills	Total		Δ %
Mexico		667.2	68.5	180.1	80.6	996.4		667.6	68.1	185.6	82.0	1,003.3		-0.7%
Guatemala		90.8	4.9	0.9	4.5	101.1		88.1	4.1	1.5	4.3	98.1		3.1%
CAM South		75.7	4.9	0.4	11.9	92.9		72.7	4.5	0.4	11.3	88.8		4.6%
Mexico and Central America		833.7	78.3	181.5	97.0	1,190.4		828.4	76.7	187.4	97.6	1,190.2		0.0%
Colombia		142.1	22.2	7.3	14.0	185.6		125.2	19.4	7.1	12.2	163.8		13.4%
Brazil (3)		479.5	42.6	4.8	58.4	585.2		465.5	41.8	4.7	48.6	560.6		4.4%
Argentina		59.2	11.7	3.5	9.4	83.8		60.5	11.2	2.7	8.1	82.6		1.5%
Uruguay		19.3	4.0	-	1.7	25.1		19.1	3.8	-	1.7	24.6		2.1%
South America		700.2	80.5	15.6	83.6	879.8		670.3	76.3	14.4	70.6	831.6		5.8%
TOTAL		1,533.8	158.7	197.1	180.6	2,070.2		1,498.7	153.0	201.8	168.3	2,021.8		2.4%
(1) Excludes water presentations larger than 5.0 Lt ; includes flavored water.
(2) Bulk Water  = Still bottled water in 5.0, 19.0 and 20.0 - liter packaging presentations; includes flavored water
Transactions
		YTD 2026						YTD 2025						YoY
		Sparkling	Water		Stills	Total		Sparkling	Water		Stills	Total		Δ %
Mexico		3,610.5	496.1		568.0	4,674.6		3,713.7	482.4		571.4	4,767.5		-1.9%
Guatemala		663.4	45.8		49.0	758.3		658.7	39.3		47.8	745.7		1.7%
CAM South		546.8	31.5		116.0	694.3		528.6	29.1		112.0	669.7		3.7%
Mexico and Central America		4,820.7	573.5		733.0	6,127.2		4,901.0	550.8		731.1	6,182.9		-0.9%
Colombia		1,034.1	219.9		103.6	1,357.6		916.8	194.9		93.6	1,205.3		12.6%
Brazil (3)		3,288.1	369.0		656.8	4,313.9		3,176.7	360.8		558.9	4,096.5		5.3%
Argentina		312.5	63.4		75.1	451.0		312.1	65.8		68.3	446.1		1.1%
Uruguay		94.9	15.2		14.1	124.2		94.6	14.6		13.6	122.9		1.1%
South America		4,729.7	667.4		849.7	6,246.8		4,500.2	636.1		734.4	5,870.8		6.4%
TOTAL		9,550.4	1,240.8		1,582.7	12,373.9		9,401.2	1,186.9		1,465.6	12,053.7		2.7%
Revenues
Expressed in million Mexican Pesos		YTD 2026	YTD 2025	Δ %
Mexico		67,840	67,892	-0.1%
Guatemala		8,178	8,631	-5.3%
CAM South		8,549	8,452	1.1%
Mexico and Central America		84,567	84,975	-0.5%
Colombia		12,484	10,748	16.1%
Brazil (4)		41,900	38,668	8.4%
Argentina		5,602	5,716	-2.0%
Uruguay		2,600	2,595	0.2%
South America		62,586	57,727	8.4%
TOTAL		147,153	142,703	3.1%
(3) Volume and transactions in Brazil do not include beer
(4) Brazil includes beer revenues of Ps. 2,453.1 million for the first six months of 2026 and Ps. 2,368.3 million for the same period of the previous year.

⁽¹⁾ Volume is expressed in unit cases. Unit case refers to 192 ounces of finished beverage product (24 eight-ounce servings) and, when applied to soda fountains, refers to the volume of syrup, powders, and concentrate that is required to produce 192 ounces of finished beverage product.

⁽²⁾ Transactions refer to the number of single units (e.g., a can or a bottle) sold, regardless of their size or volume or whether they are sold individually or in multipacks, except for soda fountains, which represent multiple transactions based on a standard 12 oz. serving.

Coca-Cola FEMSA Reports 2Q26 Results July 27^th, 2026 Page 16 of 17  

COCA-COLA FEMSA
MACROECONOMIC INFORMATION
Inflation (1)
		LTM	2Q26	YTD
Mexico		3.55%	0.36%	1.53%
Colombia		5.76%	1.53%	4.49%
Brazil		4.68%	2.05%	3.38%
Argentina		32.92%	7.74%	16.81%
Costa Rica		-0.95%	0.73%	-0.41%
Panama		2.30%	2.62%	2.95%
Guatemala		3.27%	2.21%	2.61%
Nicaragua		3.64%	0.70%	2.20%
Uruguay		3.77%	1.61%	3.26%
(1) Source: inflation estimated by the company based on historic publications from the Central Bank of each country.
Average Exchange Rates for each period (2)
		Quarterly Exchange Rate                                             (Local Currency per USD)				Year to Date Exchange Rate                                             (Local Currency per USD)
		2Q26	2Q25	Δ %		YTD 26	YTD 25	Δ %
Mexico		17.41	19.55	-10.9%		17.48	19.23	-9.1%
Colombia		3,612.15	4,197.35	-13.9%		3,649.47	4,053.13	-10.0%
Brazil		5.05	5.67	-10.9%		5.15	5.59	-7.8%
Argentina		1,410.26	1,151.04	22.5%		1,414.01	1,244.54	13.6%
Costa Rica		459.28	508.77	-9.7%		472.52	506.50	-6.7%
Panama		1.00	1.00	0.0%		1.00	1.00	0.0%
Guatemala		7.63	7.69	-0.8%		7.64	7.68	-0.5%
Nicaragua		36.62	36.62	0.0%		36.62	36.62	0.0%
Uruguay		40.09	41.61	-3.7%		39.59	41.08	-3.6%
End-of-period Exchange Rates
		Closing Exchange Rate                                         (Local Currency per USD)				Closing Exchange Rate                                                   (Local Currency per USD)
		Jun-26	Jun-25	Δ %		Mar-26	Mar-25	Δ %
Mexico		17.47	18.89	-7.5%		18.07	20.32	-11.1%
Colombia		3,443.59	4,069.67	-15.4%		3,669.96	4,192.57	-12.5%
Brazil		5.18	5.46	-5.1%		5.22	5.74	-9.1%
Argentina		1,482.00	1,205.00	23.0%		1,382.00	1,074.00	28.7%
Costa Rica		457.17	508.28	-10.1%		467.85	504.21	-7.2%
Panama		1.00	1.00	0.0%		1.00	1.00	0.0%
Guatemala		7.62	7.68	-0.9%		7.65	7.71	-0.8%
Nicaragua		36.62	36.62	0.0%		36.62	36.62	0.0%
Uruguay		40.12	39.55	1.4%		40.48	42.13	-3.9%
(2) Average exchange rate for each period computed with the average exchange rate of each month.

Coca-Cola FEMSA Reports 2Q26 Results July 27^th, 2026 Page 17 of 17  

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

COCA-COLA FEMSA, S.A.B. DE C.V.

By:  /s/ Gerardo Cruz Celaya              

Gerardo Cruz Celaya

Chief Financial Officer

 Date: July 24, 2026