[6-K] Coca-Cola FEMSA, S.A.B DE C.V Current Report (Foreign Issuer)

Rhea-AI Filing Summary

Coca-Cola FEMSA (KOF) 2Q25 snapshot: revenues rose 5.0% YoY to Ps.72.9 bn (+2.4% comparable) despite a 5.5% volume contraction. Gross profit grew 3.4%, but margin slipped 70 bps to 45.3%. Operating income was nearly flat at Ps.9.8 bn (-2.6% comparable), while adjusted EBITDA fell 3.8%. Majority net income declined 5.3% to Ps.5.3 bn; EPS Ps.0.32.

• Regional mix: Mexico & Central America volume -8.4%, op-income -6.3%; South America revenue +13.2%, op-income +19.6%.
• YTD 2025: revenue +6.7%, operating income +3.3%, net income -1.4%, volume -3.9%.
• Balance-sheet: US$500 m senior notes due 2035 issued at UST+93 bp; net debt/EBITDA 0.79×, interest-coverage 9.7×. CAPEX YTD Ps.9.6 bn (+10.8%).
• Cash returns & ESG: Ps.0.23 per share dividend (Ps.3.9 bn), tenth consecutive inclusion in FTSE4Good with score improving to 3.9/5.

Management cites soft Mexican macro and adverse weather but maintains long-term outlook, focusing on capacity investments and commercial initiatives with The Coca-Cola Company.

Positive

• 5.0% reported revenue growth despite volume decline, showing successful pricing and mix management
• South America division delivered revenue +13.2% and operating income +19.6%, offsetting Mexico weakness
• US$500 m senior notes issued at tight spread, validating strong credit profile and extending maturity ladder
• Net leverage only 0.79× EBITDA, maintaining ample financial flexibility
• FTSE4Good score improved to 3.9/5, enhancing ESG credentials

Negative

• Total volume fell 5.5%, with Mexico & Central America down 8.4%
• Operating and gross margins contracted 60–70 bps YoY on cost inflation and lower operating leverage
• Majority net income dropped 5.3%; EPS down to Ps.0.32
• Financing expense surged 27.5% after bond issuance, pressuring bottom line
• Adjusted EBITDA declined 3.8%, indicating weaker cash generation in the quarter

Insights

LatAm Beverage Analyst

TL;DR: Solid top-line and South America strength offset by volume weakness, margin pressure and higher financing cost—overall neutral.

Revenue expansion above inflation and strong double-digit growth in South America show KOF’s pricing power and diversification. However, the core Mexico & Central America division contracted sharply, dragging consolidated volumes and EBITDA. Gross and operating margins compressed on fixed-cost inflation and higher marketing spend. Net financing expense jumped 34% after the US$500 m bond, trimming earnings. Net leverage remains low (0.79×), so balance-sheet risk is contained. Guidance was not provided, but management’s capex and digital platform (Juntos + 4.0) suggest an offensive stance. Investors should weigh short-term profit softness against long-term positioning.

Credit Analyst

TL;DR: New 2035 notes well-received; leverage and coverage ratios remain investment-grade friendly.

The US$500 m issuance priced at UST+93 bp—tight for LatAm corporates—confirming strong demand. Pro forma net debt/EBITDA stays below 1× and interest coverage near 10×, giving KOF ample headroom for capex and dividends. Currency mix (52% MXN, 26% USD) and only 15% floating-rate exposure limit refinancing and rate-shock risk. Slight rise in total debt lifts capitalization to 36.6%, still conservative. From a bondholder perspective, metrics are stable to positive.

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 2025
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 2025 RESULTS

INVESTOR RELATIONS Jorge Collazo | jorge.collazo@kof.com Lorena Martin | lorena.martinl@kof.com Bryan Silva | bryan.silva@kof.com Agustin Bolio | agustin.bolio@kof.com kofmxinves@kof.com  

Mexico City, July 23, 2025, 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 2025.

SECOND QUARTER HIGHLIGHTS

· Volume declined 5.5%.

· Revenue increased 5.0%, on a currency neutral basis revenue grew 2.4%.

· Operating income remained flat; on a currency neutral basis operating income decreased 2.6%.

· Majority net income decreased 5.3%.

· Earnings per share¹ were Ps. 0.32 (Earnings per unit were Ps. 2.53 and per ADS were Ps. 25.29.).

· Reached 8 times more active users in the latest version of Juntos⁺ v 4.0, versus the previous year.

· The Company issued a successful transaction of senior notes for a total amount of US$500 million due 2035. These notes were priced at attractive spreads and coupon reflecting strong international investment grade dedicated investor demand, confirming Coca-Cola FEMSA’s financial discipline and strong credit profile.

FIRST SIX MONTHS HIGHLIGHTS

· Volume declined 3.9%.

· Revenue increased 6.7%, on a currency neutral basis revenue grew 5.4%.

· Operating income increased 3.3%, on a currency neutral basis operating income grew 0.7%.

· Majority net income decreased 1.4%.

· Earnings per share¹ were Ps. 0.62 (Earnings per unit were Ps. 4.97 and per ADS were Ps. 49.74.).

FINANCIAL SUMMARY FOR THE SECOND QUARTER RESULTS
Change vs. same period of last year
		Total Revenues			Gross Profit			Operating Income			Majority Net Income
		2Q25	YTD 2025		2Q25	YTD 2025		2Q25	YTD 2025		2Q25	YTD 2025
As Reported	Consolidated	5.0%	6.7%		3.4%	6.9%		0.2%	3.3%		(5.3%)	(1.4%)
	Mexico & Central America	0.5%	2.5%		(2.5%)	1.1%		(6.3%)	(5.7%)
	South America	13.2%	13.7%		16.2%	17.9%		19.6%	24.9%
Comparable (2)	Consolidated	2.4%	5.4%		0.9%	5.3%		(2.6%)	0.7%
	Mexico & Central America	(1.9%)	(0.7%)		(4.8%)	(1.9%)		(8.6%)	(8.8%)
	South America	10.3%	15.7%		13.1%	19.7%		14.9%	24.0%

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

“During the second quarter, we navigated a challenging environment marked by a softer macroeconomic backdrop in Mexico and adverse weather conditions in Mexico and Brazil. However, despite a tougher than expected first half of the year, we are encouraged by our improved competitive position, and we maintain our long-term perspectives unchanged. As we look ahead to the second half of the year, we will make learnings and adjustments to our plans that will deliver long-term value. Importantly, we will continue investing in capacity and capabilities to support our future growth.

While the current operating environment remains complex, we are confident in our resilient profile and in the several initiatives we are implementing across our markets—from commercial, financial, and supply chain. We are leveraging our capabilities and our strong partnership with The Coca-Cola Company to deliver long-term sustainable growth for all our stakeholders.”

⁽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 2Q25 Results July 23, 2025 Page 2 of 17

RECENT DEVELOPMENTS

· On May 1, 2025, Coca-Cola FEMSA issued senior notes for a total amount of US$500 million principal amount of senior notes due 2035. The Company priced the notes at US 10 Year Treasury +93 basis points and a coupon of 5.100%. The transaction was closed on May 6, 2025, and received broad participation from investment grade dedicated investors, confirming Coca-Cola FEMSA’s financial discipline and strong credit profile. KOF intends to use the net proceeds from the sale of the Notes for general corporate purposes, which may include the funding of working capital and capital expenditures, and the repayment of indebtedness

· On July 16, 2025, Coca-Cola FEMSA paid the second installment of the ordinary dividend approved for Ps. 0.23 per share, for a total cash distribution of Ps. 3,865.5 million.

· Coca-Cola FEMSA has been included in the FTSE4Good sustainability indices for the tenth consecutive year, achieving a score of 3.9 out of 5.0—an improvement from last reported score of 2.9. This performance demonstrates progress across all evaluated categories and enhanced transparency in our integrated report, positioning the company above the consumer goods industry and beverage subsector averages.

CONFERENCE CALL INFORMATION

 

Coca-Cola FEMSA Reports 2Q25 Results July 23, 2025 Page 3 of 17

CONSOLIDATED SECOND QUARTER RESULTS

CONSOLIDATED SECOND QUARTER RESULTS
		As Reported				Comparable (1)
Expressed in millions of Mexican pesos		2Q 2025	2Q 2024	Δ%		Δ%
Total revenues		72,917	69,456	5.0%		2.4%
Gross profit		33,042	31,961	3.4%		0.9%
Operating income		9,767	9,746	0.2%		(2.6%)
Adj. EBITDA (2)		13,388	13,922	(3.8%)		(6.3%)

Volume decreased 5.5% to 1,035.3 million unit cases, driven mainly by volume declines in Mexico, Brazil, Colombia, and Panama. These declines were partially offset by volume increases in Argentina, Uruguay, Guatemala, and Nicaragua.

Total revenues increased 5.0% to Ps. 72,917 million. This increase was driven mainly by revenue management initiatives and favorable currency translation effects from most of our operating currencies into Mexican pesos. Excluding currency translation effects, total revenues increased 2.4%.

Gross profit increased 3.4% to Ps. 33,042 million, and gross margin contracted 70 basis points to 45.3%. This contraction was driven mainly by lower operating leverage, unfavorable mix effects, and higher fixed costs such as labor, coupled with the depreciation of most of our operating currencies as applied to our U.S. dollar-denominated raw material costs. These effects were partially offset by lower sweetener costs and raw material hedging initiatives. Excluding currency translation effects, gross profit increased 0.9%.

Operating income increased 0.2% to Ps. 9,767 million, and operating margin contracted 60 basis points to 13.4%. This margin contraction was driven mainly by higher operating expenses such as labor and maintenance, coupled with an increase in marketing and depreciation. These effects were partially offset by cost and expense efficiencies, an operating foreign exchange gain, and lower freight expenses. Excluding currency translation effects, operating income decreased 2.6%.

⁽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 2Q25 Results July 23, 2025 Page 4 of 17

Comprehensive financing result recorded an expense of Ps. 1,189 million, compared to an expense of Ps. 885 million in the previous year. This increase was driven mainly by a higher interest expense, net, of Ps. 1,475 million as compared to Ps. 1,157 million in the same period of the previous year driven by higher interest expenses mainly related to the U.S. dollar-denominated bond due 2035 issued during the second quarter, coupled with an increase in interest rates in Brazil and new financing in Colombia.

In addition, we recognized a lower foreign exchange gain of Ps. 55 million in the second quarter of 2025 as compared to a gain of Ps. 177 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. This effect was partially offset by the quarterly appreciation of the Brazilian Real as applied to our U.S. dollar-denominated cash position in Brazil.

On the other hand, we recorded a higher gain in financial instruments of Ps. 154 million, as compared to Ps. 61 million recorded in the same period of the previous year, and a higher gain in monetary positions in inflationary subsidiaries related to Argentina for Ps. 77 million as compared to a gain of Ps. 34 million recorded in the same period of the previous year.

Income tax as a percentage of income before taxes was 36.2% as compared to 34.9% during the same period of 2024. This increase was driven mainly by non-recurring effects from previous fiscal years coupled with non-creditable taxes.

Net income attributable to equity holders of the company was Ps. 5,312 million as compared to Ps. 5,608 million during the same period of the previous year. This decrease was driven mainly by the increase in the comprehensive financing results. Earnings per share¹ were Ps. 0.32 (Earnings per unit were Ps. 2.53 and per ADS were Ps. 25.29.).

⁽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 2Q25 Results July 23, 2025 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 2025	YTD 2024	Δ%		Δ%
Total revenues		142,703	133,685	6.7%		5.4%
Gross profit		64,716	60,561	6.9%		5.3%
Operating income		18,986	18,380	3.3%		0.7%
Adj. EBITDA (2)		26,584	25,949	2.4%		1.3%

Volume decreased 3.9% to 2,021.8 million unit cases, driven mainly by volume declines in Mexico and Colombia. These declines were partially offset by increases in Argentina, Uruguay, and Guatemala and a flattish performance in Brazil.

Total revenues increased 6.7% to Ps. 142,703 million. This increase was driven mainly by revenue management initiatives and favorable currency translation effects from most of our operating currencies into Mexican pesos. Excluding currency translation effects, total revenues increased 5.4%.

Gross profit increased 6.9% to Ps. 64,716 million, and gross margin expanded 10 basis points to 45.4%. This performance was driven mainly by lower sweetener costs, top-line growth, and raw material hedging initiatives. These effects were partially offset by higher fixed costs, such as labor, and the depreciation of most of our operating currencies as applied to our U.S. dollar-denominated raw material costs. Excluding currency translation effects, gross profit increased 5.3%.

Operating income increased 3.3% to Ps. 18,986 million, and operating margin contracted 40 basis points to 13.3%. This margin contraction was driven mainly by lower operating leverage, driven by an increase in expenses such as labor, maintenance, marketing, and depreciation. These effects were partially offset by lower freight expenses. Excluding currency translation effects, operating income increased 0.7%.

⁽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 2Q25 Results July 23, 2025 Page 6 of 17

Comprehensive financing result recorded an expense of Ps. 2,308 million, compared to an expense of Ps. 2,080 million in the same period of the previous year. This increase was driven mainly by a higher interest expense, net, of Ps. 2,749 million as compared to Ps. 2,341 million in the same period of the previous year as a result of higher interest expense mainly driven by our U.S. dollar-denominated bond due 2035 issued during the second quarter, coupled with an increase in interest rates in Brazil and new financing in Argentina and Colombia.

In addition, we recognized a foreign exchange loss of Ps. 1 million as compared to a gain of Ps. 204 million in the same period of the previous year, this gain in the previous year was driven mainly by the appreciation of the Brazilian Real and the Mexican Peso as applied to our U.S. dollar-denominated cash position during the same period of the previous year.

These effects were partially offset by a higher gain in financial instruments of Ps. 288 million as compared to a gain of Ps. 15 million in the same period of the previous year, resulting from a decrease in the floating interest rate as compared to the previous year.

Finally, we recognized a higher gain in monetary positions in inflationary subsidiaries related to Argentina for Ps. 154 million as compared to a gain of Ps. 42 million in the same period of the previous year.

Income tax as a percentage of income before taxes was 34.8% as compared to 32.9% during the same period of 2024. This increase was driven mainly by non-recurring effects from previous fiscal years coupled with non-creditable taxes and inflationary effects.

Net income attributable to equity holders of the company was Ps. 10,450 million as compared to Ps 10,598 million during the same period of the previous year. This decrease was driven mainly by higher comprehensive financing result and higher income taxes that were partially offset by a slight increase in our operating income. Earnings per share¹ were Ps. 0.62 (Earnings per unit were Ps. 4.97 and per ADS were Ps. 49.74).

⁽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 2Q25 Results July 23, 2025 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 2025	2Q 2024	Δ%		Δ%
Total revenues		45,306	45,067	0.5%		(1.9%)
Gross profit		21,404	21,948	(2.5%)		(4.8%)
Operating income		6,829	7,291	(6.3%)		(8.6%)
Adj. EBITDA (2)		8,926	9,882	(9.7%)		(11.8%)

Volume declined 8.4%, driven by volume decreases in Mexico and Panama that were partially offset by volume growth in Guatemala, Nicaragua, and Costa Rica. This volume decline was driven mainly by unfavorable weather conditions and a challenging comparison base from the previous year.

Total revenues increased 0.5% to Ps. 45,306 million. This performance was driven mainly by revenue management initiatives and the favorable currency translation effect from all our operating currencies into Mexican pesos, which were offset by a volume decline. Excluding currency translation effects, total revenues decreased 1.9%.

Gross profit decreased 2.5% to Ps. 21,404 million, and gross margin contracted 150 basis points to 47.2%. This margin contraction was driven mainly by unfavorable mix effects and higher fixed costs such as labor, coupled with the depreciation of the Mexican Peso as applied to our U.S. dollar-denominated raw material costs. These effects were partially offset by lower sweetener costs and raw material hedging initiatives. Excluding currency translation effects, gross profit decreased 4.8%.

Operating income decreased 6.3% to Ps. 6,829 million, and operating margin contracted 110 basis points to 15.1%. This margin contraction was driven mainly by lower operating leverage, coupled with an increase in expenses such as labor, maintenance, marketing, and depreciation. These effects were partially offset by a decrease in freight expenses and operating foreign exchange gain. Excluding currency translation effects, operating income decreased 8.6%.

⁽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 2Q25 Results July 23, 2025 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 2025	2Q 2024	Δ%		Δ%
Total revenues		27,611	24,389	13.2%		10.3%
Gross profit		11,639	10,014	16.2%		13.1%
Operating income		2,937	2,455	19.6%		14.9%
Adj. EBITDA (2)		4,462	4,040	10.4%		7.3%

Volume declined 0.5% to 398.4 million unit cases, driven mainly by volume declines in Brazil and Colombia that were partially offset by volume growth in Argentina and Uruguay.

Total revenues increased 13.2% to Ps. 27,611 million. This increase was driven mainly by revenue management initiatives, a favorable mix, and a favorable currency translation effect into Mexican pesos. Excluding currency translation effects, total revenues increased 10.3%.

Gross profit increased 16.2% to Ps. 11,639 million, and gross margin expanded 110 basis points to 42.2%. This expansion was driven mainly by top-line growth, coupled with a decrease in raw material costs, such as sweeteners, and cost efficiencies, which were partially offset by the currency depreciation in all our operating currencies as compared to the U.S. dollar. Excluding currency translation effects, gross profit increased 13.1%.

Operating income increased 19.6% to Ps. 2,937 million, resulting in an operating margin expansion of 50 basis points to 10.6%. This increase was driven mainly by an increase in our gross profit, partially offset by higher expenses such as labor and marketing. Excluding currency translation effects, operating income increased 14.9%.

⁽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 2Q25 Results July 23, 2025 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 refers 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 / outstanding shares.” Earnings per share (EPS) for all periods are adjusted to give effect to the stock split resulting in 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 appreciation of most of the currencies used in our main operations relative to the Mexican peso in the second quarter of 2025, as compared to the same period of 2024, we had a favorable currency translation effect into Mexican pesos. Please see page 17 for exchange rate fluctuations.

Coca-Cola FEMSA Reports 2Q25 Results July 23, 2025 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 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 276 million consumers. With over 93,000 employees, the Company markets and sells approximately 4.2-billion-unit cases through approximately 2.2 million points of sale a year. Operating 56 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 Sustainability MILA Pacific Alliance Index, FTSE4Good Emerging Index, and the S&P/BMV Total Mexico ESG Index, among others. 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 KOF Venezuela. 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 2Q25 Results July 23, 2025 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:
		2025	% of Rev.	2024	% of Rev.	Δ% Reported	Δ% Comparable (7)		2025	% of Rev.	2024	% of Rev.	Δ% Reported	Δ% Comparable (7)
Transactions (million transactions)		6,131.9		6,372.8		-3.8%	-3.8%		12,053.7		12,330.8		-2.2%	-2.2%
Volume (million unit cases)		1,035.3		1,095.8		-5.5%	-5.5%		2,021.8		2,104.4		-3.9%	-3.9%
Average price per unit case		68.65		61.89		10.9%			68.63		61.77		11.1%
Net revenues		72,852		69,297		5.1%			142,556		133,359		6.9%
Other operating revenues		65		159		-59.2%			147		326		-55.0%
Total revenues (2)		72,917	100.0%	69,456	100.0%	5.0%	2.4%		142,703	100.0%	133,685	100.0%	6.7%	5.4%
Cost of goods sold		39,875	54.7%	37,495	54.0%	6.3%			77,987	54.6%	73,124	54.7%	6.6%
Gross profit		33,042	45.3%	31,961	46.0%	3.4%	0.9%		64,716	45.4%	60,561	45.3%	6.9%	5.3%
Operating expenses		23,679	32.5%	21,621	31.1%	9.5%			46,029	32.3%	41,438	31.0%	11.1%
Other operative expenses, net		(291)	-0.4%	672	1.0%	NA			(109)	-0.1%	864	0.6%	NA
Operative equity method (gain) loss in associates(3)		(112)	-0.2%	(78)	-0.1%	43.8%			(190)	-0.1%	(122)	-0.1%	56.1%
Operating income (5)		9,767	13.4%	9,746	14.0%	0.2%	-2.6%		18,986	13.3%	18,380	13.7%	3.3%	0.7%
Other non operative expenses, net		99	0.1%	63	0.1%	56.6%			125	0.1%	(27)	0.0%	NA
Non Operative equity method (gain) loss in associates (4)		(54)	-0.1%	45	0.1%	NA			(130)	-0.1%	58	0.0%	NA
Interest expense		2,101		1,836		14.5%			3,963		3,648		8.6%
Interest income		626		678		-7.7%			1,214		1,307		-7.1%
Interest expense, net		1,475		1,157		27.5%			2,749		2,341		17.5%
Foreign exchange loss (gain)		(55)		(177)		-68.8%			1		(204)		NA
Loss (gain) on monetary position in inflationary subsidiaries		(77)		(34)		125.6%			(154)		(42)		267.5%
Market value (gain) loss on financial instruments		(154)		(61)		151.3%			(288)		(15)		1860.7%
Comprehensive financing result		1,189		885		34.4%			2,308		2,080		11.0%
Income before taxes		8,532		8,752		-2.5%			16,684		16,269		2.5%
Income taxes		3,029		3,044		-0.5%			5,691		5,329		6.8%
Result of discontinued operations		-		-		NA			-		-		NA
Consolidated net income		5,503		5,709		-3.6%			10,993		10,941		0.5%
Net income attributable to equity holders of the company		5,312	7.3%	5,608	8.1%	-5.3%	-8.1%		10,450	7.3%	10,598	7.9%	-1.4%	-5.9%
Non-controlling interest		191	0.3%	101	0.1%	89.2%			543	0.4%	342	0.3%	58.7%
Adj. EBITDA & CAPEX		2025	% of Rev.	2024	% of Rev.	Δ% Reported	Δ% Comparable (7)		2025	% of Rev.	2024	% of Rev.	Δ% Reported	Δ% Comparable (7)
Operating income (5)		9,767	13.4%	9,746	14.0%	0.2%	-2.6%		18,986	13.3%	18,380	13.7%	3.3%	0.7%
Depreciation		3,160		2,657		18.9%			6,259		5,219		19.9%
Amortization and other operative non-cash charges		461		1,519		-69.6%			1,339		2,349		-43.0%
Adj. EBITDA (5)(6)		13,388	18.4%	13,922	20.0%	-3.8%	-6.3%		26,584	18.6%	25,949	19.4%	2.4%	1.3%
CAPEX(8)		5,404		5,512		-2.0%			9,632		8,693		10.8%

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

⁽²⁾ Please refer to page 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, 2025, the investment in fixed assets effectively paid is equivalent to Ps. 9,985 million.

Coca-Cola FEMSA Reports 2Q25 Results July 23, 2025 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:
		2025	% of Rev.	2024	% of Rev.	Δ% Reported	Δ% Comparable (6)		2025	% of Rev.	2024	% of Rev.	Δ% Reported	Δ% Comparable (6)
Transactions (million transactions)		3,279.8		3,565.3		-8.0%	-8.0%		6,182.9		6,584.4		-6.1%	-6.1%
Volume (million unit cases)		636.9		695.6		-8.4%	-8.4%		1,190.2		1,275.4		-6.7%	-6.7%
Average price per unit case		70.42		64.48		9.2%			70.73		64.68		9.4%
Net revenues		45,297		45,078					84,959		82,922
Other operating revenues		9		(11)					16		(11)
Total Revenues (2)		45,306	100.0%	45,067	100.0%	0.5%	-1.9%		84,975	100.0%	82,911	100.0%	2.5%	-0.7%
Cost of goods sold		23,902	52.8%	23,119	51.3%				44,686	52.6%	43,075	52.0%
Gross profit		21,404	47.2%	21,948	48.7%	-2.5%	-4.8%		40,289	47.4%	39,836	48.0%	1.1%	-1.9%
Operating expenses		14,973	33.0%	14,241	31.6%				28,334	33.3%	26,354	31.8%
Other operative expenses, net		(320)	-0.7%	478	-0.1%				(163)	-0.2%	597	0.7%
Operative equity method (gain) loss in associates (3)		(79)	-0.2%	(62)	-0.1%				(110)	-0.1%	(88)	-0.1%
Operating income (4)		6,829	15.1%	7,291	16.2%	-6.3%	-8.6%		12,229	14.4%	12,972	15.6%	-5.7%	-8.8%
Depreciation, amortization & other operating non-cash charges		2,096	4.6%	2,591	5.8%				4,605	5.4%	4,654	5.6%
Adj. EBITDA (4)(5)		8,926	19.7%	9,882	21.9%	-9.7%	-11.8%		16,834	19.8%	17,626	21.3%	-4.5%	-7.6%

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

⁽²⁾ Please refer to page 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:
		2025	% of Rev.	2024	% of Rev.	Δ% Reported	Δ% Comparable (6)		2025	% of Rev.	2024	% of Rev.	Δ% Reported	Δ% Comparable (6)
Transactions (million transactions)		2,852.1		2,807.5		1.6%	1.6%		5,870.8		5,746.4		2.2%	2.2%
Volume (million unit cases)		398.4		400.2		-0.5%	-0.5%		831.6		829.0		0.3%	0.3%
Average price per unit case		65.81		57.39		14.7%			65.63		57.29		14.6%
Net revenues		27,554		24,219					57,596		50,437
Other operating revenues		56		171					131		337
Total Revenues (2)		27,611	100.0%	24,389	100.0%	13.2%	10.3%		57,727	100.0%	50,774	100.0%	13.7%	15.7%
Cost of goods sold		15,972	57.8%	14,375	58.9%				33,301	57.7%	30,049	59.2%
Gross profit		11,639	42.2%	10,014	41.1%	16.2%	13.1%		24,427	42.3%	20,725	40.8%	17.9%	19.7%
Operating expenses		8,705	31.5%	7,380	30.3%				17,695	30.7%	15,083	29.7%
Other operative expenses, net		28	0.1%	195	0.8%				54	0.1%	267	0.5%
Operative equity method (gain) loss in associates (3)		(32)	-0.1%	(16)	-0.1%				(80)	-0.1%	(34)	-0.1%
Operating income (4)		2,937	10.6%	2,455	10.1%	19.6%	14.9%		6,757	11.7%	5,408	10.7%	24.9%	24.0%
Depreciation, amortization & other operating non-cash charges		1,525	5.5%	1,585	6.5%				2,993	5.2%	2,915	5.7%
Adj. EBITDA (4)(5)		4,462	16.2%	4,040	16.6%	10.4%	7.3%		9,750	16.9%	8,323	16.4%	17.1%	21.3%

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

⁽²⁾ Please refer to page 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 2Q25 Results July 23, 2025 Page 13 of 17

COCA-COLA FEMSA
CONSOLIDATED BALANCE SHEET
Millions of Pesos
Assets		Jun-25	Dec-24	% Var.		Liabilities & Equity		Jun-25	Dec-24	% Var.
Current Assets						Current Liabilities
Cash, cash equivalents and marketable securities						Short-term bank loans and notes payable		3,755	3,314	13%
		37,139	32,779	13%		Suppliers		29,271	33,773	-13%
Total accounts receivable		15,943	18,620	-14%		Short-term leasing Liabilities		876	889	-1%
Inventories		14,985	14,059	7%		Other current liabilities		36,489	29,195	25%
Other current assets		10,465	9,675	8%		Total current liabilities		70,391	67,171	5%
Total current assets		78,531	75,132	5%		Non-Current Liabilities		-	-
Non-Current Assets		-	-			Long-term bank loans and notes payable		77,769	70,383	10%
Property, plant and equipment		166,786	161,785	3%		Long Term Leasing Liabilities		2,101	2,295	-8%
Accumulated depreciation		(64,237)	(62,404)	3%		Other long-term liabilities		18,855	17,595	7%
Total property, plant and equipment, net		102,549	99,381	3%		Total liabilities		169,116	157,445	7%
Right of use assets		2,746	2,989	-8%		Equity		-	-
Investment in shares		10,738	10,233	5%		Non-controlling interest		7,806	7,113	10%
Intangible assets and other assets		103,142	101,876	1%		Total controlling interest		136,938	143,428	-5%
Other non-current assets		16,155	18,375	-12%		Total equity		144,744	150,542	-4%
Total Assets		313,860	307,986	2%		Total Liabilities and Equity		313,860	307,986	2%
		June 30, 2025
Debt Mix		% Total Debt (1)	% Interest Rate Floating (1) (2)	Average Rate		Debt Maturity Profile
Currency
Mexican Pesos		51.6%	2.3%	8.5%
U.S. Dollars		26.3%	20.7%	4.2%
Colombian Pesos		3.8%	58.3%	9.2%
Brazilian Reals		17.7%	13.1%	10.9%
Argentine Pesos		0.6%	0.0%	40.8%
Total Debt		100%	14.6%	8.0%
(1) After giving effect to swaps.
(2) Calculated  based on the  weighting of the outstanding debt mix for each year.
Financial Ratios		2Q 2025	FY 2024	Δ%
Net debt including effect of hedges (1)(3)		44,824	38,329	16.9%
Net debt including effect of hedges / Adj. EBITDA (1)(3)		0.79	0.68
Adj. EBITDA/ Interest expense, net (1)		9.67	12.51
Capitalization (2)		36.6%	33.3%
(1) Net debt = total debt - cash
(2) Total debt / (total debt + shareholders' equity)
(3)  After giving effect to swaps.

Coca-Cola FEMSA Reports 2Q25 Results July 23, 2025 Page 14 of 17

COCA-COLA FEMSA
QUARTERLY- VOLUME, TRANSACTIONS & REVENUES
Volume
		2Q 2025						2Q 2024						YoY
		Sparkling	Water (1)	Bulk (2)	Stills	Total		Sparkling	Water (1)	Bulk (2)	Stills	Total		Δ %
Mexico		359.7	37.7	98.5	43.5	539.4		402.3	44.1	108.1	45.0	599.5		-10.0%
Guatemala		46.1	2.2	0.8	2.3	51.3		45.2	2.8	-	2.6	50.5		1.6%
CAM South		38.0	2.2	0.2	5.9	46.2		37.4	1.5	1.0	5.7	45.6		1.2%
Mexico and Central America		443.7	42.1	99.4	51.7	636.9		484.8	48.3	109.1	53.3	695.6		-8.4%
Colombia		63.5	9.6	3.5	5.9	82.6		64.5	9.4	4.0	7.1	85.0		-2.8%
Brazil (3)		223.2	17.7	1.8	22.7	265.3		224.0	18.9	2.4	24.2	269.4		-1.5%
Argentina		29.1	5.0	1.4	3.8	39.3		26.8	4.2	1.7	2.5	35.1		11.9%
Uruguay		9.0	1.5	-	0.7	11.2		8.7	1.4	-	0.6	10.7		4.9%
South America		324.7	33.9	6.7	33.1	398.4		324.0	33.8	8.1	34.3	400.2		-0.5%
TOTAL		768.4	76.0	106.1	84.8	1,035.3		808.8	82.2	117.2	87.7	1,095.8		-5.5%
(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 2025						2Q 2024						YoY
		Sparkling	Water		Stills	Total		Sparkling	Water		Stills	Total		Δ %
Mexico		1,978.1	265.1		298.5	2,541.7		2,230.1	297.6		313.2	2,840.9		-10.5%
Guatemala		346.8	21.3		24.5	392.6		334.4	19.0		27.0	380.4		3.2%
CAM South		273.6	14.2		57.7	345.5		271.2	15.0		57.9	344.1		0.4%
Mexico and Central America		2,598.5	300.6		380.7	3,279.8		2,835.7	331.5		398.1	3,565.3		-8.0%
Colombia		470.8	96.9		45.8	613.5		475.2	95.7		58.7	629.6		-2.6%
Brazil (3)		1,547.0	154.6		266.2	1,967.8		1,498.6	163.5		277.3	1,939.4		1.5%
Argentina		152.0	30.1		32.0	214.0		138.0	26.1		21.9	185.9		15.1%
Uruguay		45.3	5.9		5.6	56.8		42.2	5.5		4.7	52.5		8.3%
South America		2,215.0	287.4		349.6	2,852.1		2,154.0	290.7		362.7	2,807.5		1.6%
TOTAL		4,813.5	588.0		730.4	6,131.9		4,989.7	622.2		760.8	6,372.8		-3.8%
Revenues
Expressed in million Mexican Pesos		2Q 2025	2Q 2024	Δ %
Mexico		36,629	37,474	-2.3%
Guatemala		4,458	3,846	15.9%
CAM South		4,218	3,746	12.6%
Mexico and Central America		45,306	45,067	0.5%
Colombia		5,384	4,785	12.5%
Brazil (4)		18,359	16,443	11.7%
Argentina		2,653	2,154	23.1%
Uruguay		1,215	1,007	20.6%
South America		27,611	24,389	13.2%
TOTAL		72,917	69,456	5.0%
(3) Volume and transactions in Brazil do not include beer
(4) Brazil includes beer revenues of Ps. 1,343.1 million for the second quarter of 2025 and Ps. 1,033.1 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 refers 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 2Q25 Results July 23, 2025 Page 15 of 17

COCA-COLA FEMSA
YTD- VOLUME, TRANSACTIONS & REVENUES
Volume
		YTD 2025						YTD 2024						YoY
		Sparkling	Water (1)	Bulk (2)	Stills	Total		Sparkling	Water (1)	Bulk (2)	Stills	Total		Δ %
Mexico		667.6	68.1	185.6	82.0	1,003.3		734.7	75.4	197.9	81.8	1,089.8		-7.9%
Guatemala		88.1	4.1	1.5	4.3	98.1		86.5	5.1	-	4.8	96.4		1.8%
CAM South		72.7	4.5	0.4	11.3	88.8		73.0	3.1	2.0	11.2	89.2		-0.4%
Mexico and Central America		828.4	76.7	187.4	97.6	1,190.2		894.2	83.6	199.9	97.7	1,275.4		-6.7%
Colombia		125.2	19.4	7.1	12.2	163.8		130.5	19.9	8.1	14.7	173.3		-5.5%
Brazil (3)		465.5	41.8	4.7	48.6	560.6		464.1	39.6	5.1	48.7	557.6		0.5%
Argentina		60.5	11.2	2.7	8.1	82.6		56.2	9.3	3.7	5.5	74.8		10.5%
Uruguay		19.1	3.8	-	1.7	24.6		18.8	3.3	-	1.3	23.3		5.5%
South America		670.3	76.3	14.4	70.6	831.6		669.6	72.2	16.9	70.3	829.0		0.3%
TOTAL		1,498.7	153.0	201.8	168.3	2,021.8		1,563.8	155.7	216.9	168.0	2,104.4		-3.9%
(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 2025						YTD 2024						YoY
		Sparkling	Water		Stills	Total		Sparkling	Water		Stills	Total		Δ %
Mexico		3,713.7	482.4		571.4	4,767.5		4,097.6	516.5		573.8	5,187.9		-8.1%
Guatemala		658.7	39.3		47.8	745.7		642.1	34.7		49.9	726.7		2.6%
CAM South		528.6	29.1		112.0	669.7		527.5	30.2		112.2	669.9		0.0%
Mexico and Central America		4,901.0	550.8		731.1	6,182.9		5,267.2	581.4		735.9	6,584.4		-6.1%
Colombia		916.8	194.9		93.6	1,205.3		954.4	204.8		124.2	1,283.4		-6.1%
Brazil (3)		3,176.7	360.8		558.9	4,096.5		3,059.1	343.6		551.8	3,954.4		3.6%
Argentina		312.1	65.8		68.3	446.1		286.6	58.4		48.6	393.6		13.3%
Uruguay		94.6	14.6		13.6	122.9		91.0	12.7		11.2	114.9		6.9%
South America		4,500.2	636.1		734.4	5,870.8		4,391.2	619.4		735.8	5,746.4		2.2%
TOTAL		9,401.2	1,186.9		1,465.6	12,053.7		9,658.3	1,200.8		1,471.6	12,330.7		-2.2%
Revenues
Expressed in million Mexican Pesos		YTD 2025	YTD 2024	Δ %
Mexico		67,892	68,328	-0.6%
Guatemala		8,631	7,244	19.1%
CAM South		8,452	7,338	15.2%
Mexico and Central America		84,975	82,911	2.5%
Colombia		10,748	9,668	11.2%
Brazil (4)		38,668	34,279	12.8%
Argentina		5,716	4,730	20.8%
Uruguay		2,595	2,096	23.8%
South America		57,727	50,774	13.7%
TOTAL		142,703	133,685	6.7%
(3) Volume and transactions in Brazil do not include beer
(4) Brazil includes beer revenues of Ps. 2,368.3 million for the first six months of 2025 and Ps. 2,529.1 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 refers 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 2Q25 Results July 23, 2025 Page 16 of 17

COCA-COLA FEMSA
MACROECONOMIC INFORMATION
Inflation (1)
		LTM	2Q25	YTD
Mexico		4.51%	1.41%	1.67%
Colombia		5.08%	1.51%	3.84%
Brasil		5.35%	1.15%	2.97%
Argentina		39.63%	7.64%	15.61%
Costa Rica		0.02%	-1.23%	-0.70%
Panama		-0.49%	0.09%	0.79%
Guatemala		1.51%	1.47%	1.00%
Nicaragua		1.12%	0.00%	1.28%
Uruguay		5.16%	0.91%	3.14%
(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)
		2Q25	2Q24	Δ %		YTD 25	YTD 24	Δ %
México		19.55	17.21	13.6%		19.98	18.30	9.2%
Colombia		4,197.35	3,928.59	6.8%		4,192.97	4,074.44	2.9%
Brasil		5.67	5.22	8.6%		5.76	5.39	6.8%
Argentina		1151.04	886.47	29.8%		1104.02	916.29	20.5%
Costa Rica		508.77	516.43	-1.5%		508.22	518.22	-1.9%
Panama		1.00	1.00	0.0%		1.00	1.00	0.0%
Guatemala		7.69	7.77	-1.1%		7.70	7.76	-0.8%
Nicaragua		36.62	36.62	0.0%		36.62	36.62	0.0%
Uruguay		41.61	38.75	7.4%		42.32	40.21	5.2%
End-of-period Exchange Rates
		Closing Exchange Rate                                         (Local Currency per USD)				Closing Exchange Rate                                                   (Local Currency per USD)
		Jun-25	Jun-24	Δ %		Mar-25	Mar-24	Δ %
México		18.89	18.38	2.8%		20.32	16.68	21.8%
Colombia		4,069.67	4,148.04	-1.9%		4,192.57	3,842.30	9.1%
Brasil		5.46	5.56	-1.8%		5.74	5.00	14.9%
Argentina		1,205.00	912.00	32.1%		1,074.00	858.00	25.2%
Costa Rica		508.28	528.80	-3.9%		504.21	506.60	-0.5%
Panama		1.00	1.00	0.0%		1.00	1.00	0.0%
Guatemala		7.68	7.77	-1.1%		7.71	7.79	-1.0%
Nicaragua		36.62	36.62	0.0%		36.62	36.62	0.0%
Uruguay		39.55	39.99	-1.1%		42.13	37.55	12.2%
(2) Average exchange rate for each period computed with the average exchange rate of each month.

Coca-Cola FEMSA Reports 2Q25 Results July 23, 2025 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 22, 2025

FAQ

How did KOF's revenue perform in 2Q25?

Revenue rose 5.0% YoY to Ps.72.9 bn; on a currency-neutral basis the increase was 2.4%.

What happened to Coca-Cola FEMSA's volumes in 2Q25?

Consolidated volume declined 5.5% to 1,035 million unit cases, led by Mexico and Brazil.

Why did net income decrease despite higher revenue?

Higher financing costs (+34%) and margin compression outweighed top-line gains, pushing net income down 5.3%.

How strong is KOF's balance-sheet after issuing US$500 m notes?

Net debt/EBITDA remains low at 0.79× and interest-coverage at 9.67×, supporting investment-grade metrics.

What dividend did KOF pay in July 2025?

The company paid the second Ps.0.23 per share installment, totaling Ps.3.87 bn in cash.

Which region drove growth in 2Q25?

The South America division saw revenues up 13.2% and operating income up 19.6%, leading overall growth.