Presentation given to Barclays Back to School Conference in September 2012

1. Barclays Back To School
September 7, 2011

2. Larry D. Young
President and CEO

3. 3
Safe Harbor Statement
This release contains forward-looking statements within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended, including, in particular, statements about future events, future
financial performance including earnings estimates, plans, strategies, expectations,
prospects, competitive environment, regulation, and cost and availability of raw materials.
Forward-looking statements include all statements that are not historical facts and can be
identified by the use of forward-looking terminology such as the words “may,” “will,”
“expect,” “anticipate,” “believe,” “estimate,” “plan,” “intend” or the negative of these terms
or similar expressions. These forward-looking statements have been based on our
current views with respect to future events and financial performance. Our actual
financial performance could differ materially from those projected in the forward-looking
statements due to the inherent uncertainty of estimates, forecasts and projections, and
our financial performance may be better or worse than anticipated. Given these
uncertainties, you should not put undue reliance on any forward-looking statements. All
of the forward-looking statements are qualified in their entirety by reference to the factors
discussed under “Risk Factors” in Part I, Item 1A of our Annual Report on Form 10-K for
the year ended December 31, 2010 and our other filings with the Securities and
Exchange Commission. Forward-looking statements represent our estimates and
assumptions only as of the date that they were made. We do not undertake any duty to
update the forward-looking statements, and the estimates and assumptions associated
with them, after the date of this presentation, except to the extent required by applicable
securities laws.

4. 4
Premium Tea
Gourmet CSDs
Juice & Juice DrinksFlavored CSDs
Strong Portfolio of Brands with Leadership Positions
Mixers
Source: The Nielsen Company 2010

5. 5
Key Brands Drive Over 80% of Volume
CSDs Non Carbs
Source: Internal Company Reporting

6. 6
Portfolio Strong and Healthy
Non Carbs
6
3 year CAGR
CSDs
3 year CAGR
Source: BCS per internal company reporting through Q2 2011; Share per AC Nielsen YTD 8/13/11; ACV gains for core brand/SKUs per AC Nielsen YTD 8/13/11
● BCS
● Share
● ACV
● BCS
● Share
● ACV

7. 7
Non-Cola CSD Category Mix
(Retail Sales Dollars)
46.3%
55.0%
47.8%
48.3%
49.3%
2005 2006 2007 2008 2010
Source: The Nielsen Company (U.S.) through 8/13/11 + Company estimates
51.2%
2015
//
DPS Continues to Benefit From Ongoing Shift to Non-Colas
2009
50.4%
2011 YTD
51.5%

8. 8
● Non-colas have grown faster than colas for the last 20
years…increased availability and clearer segmentation
● For loyal CSD drinkers, cola is no longer the default
● Population growth coming from Hispanics and African
Americans – skew toward flavored beverages
● CSD innovation biased toward non-colas – serve as a
more effective platform
Non-Cola CSDs Deliver on Consumer Needs
CSD category declines driven by cola fatigue
.…flavors are still growing

9. 9
Today, DPS Captures Only 3% of All Drinking Occasions
Source: Beverage Digest 2010 Fact Book / Institute of Medicine
Annual Beverage Consumption
(8 ounce servings per person)
3,920
Total Servings
CSDs, 740
Beer, 340
Milk, 350
Bottled Water, 330
Coffee, 250
Juices, 130
Tea, 120
Sports Drinks, 60
All Others
Including Tap
Water, 1,600

10. 10
100
63
20
11
20
5
5
3
8 oz Servings Per Capita
GoalAverage
GoalAverage GoalAverage
GoalAverage
Juice
+300 million
cases
+350 million
cases
+120 million
cases
+15 million
cases
Almost 800 million
case opportunity
Opportunity to Add 800 Million Cases Over Time
Source: The Nielsen Company (U.S.) + Company estimates

11. 11
Build the Brands
Key Priorities
Grow Per Caps
Rapid Continuous Improvement
11

12. 12
Build the Brands
Key Priorities
Grow Per Caps
Rapid Continuous Improvement
12

13. 13
Build the Brands
Brand Awareness
Innovation
Win the West
Win with Hispanics
Rediscover Brands
Caloric Transparency

14. 14
Investing to Build Brand Awareness
Hispanic Marketing Canada Dry Brand Expansion
Snapple Try Me FreeDiet Dr Pepper Coupons
14

15. 15
● Dr Pepper Pitbull
● Snapple Diet Raspberry Tea
● Mott’s For Tots
● Dr Pepper TEN
Commercials
15

16. 16
Innovation Delivering on Taste
2011 Innovation
16

17. 17
West Coast and Hispanic Focus Driving Growth
Win the West Win with Hispanics
Source: The Nielsen Company YTD 7/16/11
Juice/Juice Drinks
Share
+~1pt
Dr Pepper /
PJ Awards
10MM viewers

18. 18
Repatriated Brands Provide New Opportunities…

19. 19
Increasing Caloric Transparency
19
Clear on
Calories

20. 20
Key Priorities
Grow Per Caps
Rapid Continuous Improvement
Build the Brands
20

21. 21
Building Per Capita Growth
● Create local
awareness
● Increase frequency of
the light user
● Increase household
penetration
● ACV distribution –
grocery / C&G
● Immediate
consumption
● Fountain/Foodservice
Brand
Availability
21

22. 22
Building Availability in Grocery
Grocery ACV% Base SKUs
● CSD Base SKUs: Regular & Diet product in 12 pack, 2 liter and 20 oz
● Snapple Base SKUs: 6 pack 16 oz glass Lemon, Diet Lemon, Peach and Diet Peach; 12 pack 16.9 oz PET
Peach Green and Diet Peach Green
● Mott’s Base SKUs: Apple Juice in 64 oz and 128 oz; Mott’s For Tots Apple in 64 oz and White Grape in 64 oz
Goal
22
Source: The Nielsen Company YTD 8/13/11

23. 23
Building Availability in C-store
C-store ACV Base SKUs
Goal
● CSD Base SKUs: Regular & Diet product in 12 pack, 2 liter and 20 oz
23
Source: The Nielsen Company YTD 8/13/11

24. 24
Increasing Single Serve Occasions
% ACV Core Skus +30K Fountain Valves Per Year
0% 20% 40% 60% 80% 100%
+35K Cold Drink Assets Per Year
2008 2009 2010 2011 2012 2013
10
46
36 35 35 35
2 billion
serving
occasions
over 5 years
Diet
Not Available
Regular
Not Available
31
R
Max & Erma’s
% Fountain Availability
76
111
146
181
24Source: Internal Company Reporting

25. 25
Key Priorities
Rapid Continuous Improvement
Build the Brands
Grow Per Caps
25

26. Marty Ellen
Chief Financial Officer

27. 27
3% – 5%
Expect Consistent Growth Over Time
Net Sales
Growth
High-single digitsNet Income
Growth Mid-single digits
High-single digits
Earnings Per
Share
>100%
Net Income to
Free Cash Conversion

28. 28
Building Revenue Margin Management Capabilities
Price
●Price points to maximize lift and provide strong ROI
Package
●Right package, right brand, right market, right channel
Merchandising
●Ads and displays with correct frequency and duration
●Outstanding execution of the RIGHT promotion

29. 29
Packaging and Ingredients Drive 75% of COGS
• Sweeteners
• Apple / Juice
Concentrates
• Flavors / Colors
• Cans / Ends
• Bottles / Caps
• Glass
• Corrugated / Paperboard
• Labels / Films
COGS
Key Ingredient Components
Key Packaging Components
Ingredients
~25%
Packaging
~50%
2010: $2.2 billion

30. 30
Hedging and Procurement Practices Ensure Cost Visibility
● Aluminum
● PET
● Apple Juice Concentrate
● Net Corn
● Sucrose
● Heating Oil
● Natural Gas
Key Items
Covered
● Min / max coverage
policies
● Commodity Policy
Committee
Governance

31. 31
Opportunity to Eliminate Waste is Significant
$3.2 billion annually
Purchased
ProductSelling &
Logistics
Manufacturing
General &
Administrative
Capex
Working
Capital

32. 32
Rapid Continuous Improvement…
Safety
Quality
Delivery
Productivity
Growth
People
Time
Money
CUSTOMER
FOCUS
Freeing up…
…to grow the business

33. 33
● Specify value in the Eyes of the Customer
● Identify the value stream and Eliminate Waste
● Make value Flow at the Pull of the customer
● Involve and Empower employees
● Continuously Improve in pursuit of perfection
Rapid Continuous Improvement Underpinned by the
Principles of Lean

34. 34
2011 2012 2013 2014+
By 2013, RCI is Expected to Generate At Least $150 Million
of Annualized Productivity
Annualized Productivity
Capex
Working
Capital
P&L
Productivity
$150MM

35. 35
● Pull replenishment / inventory
reduction
● Flavor / package changeovers
While Still Early Days, RCI Mindset is Taking Hold Across
the Entire Organization
● Sales order process
● Warehouse / DC consolidation
● Shell & pallet recovery
● Cold drink speed to market
● POS speed to market
● New product development
● Pricing error reductions
● License/data rationalization
● New hire process
● Route audits
Supply Chain
Sales
Marketing
Finance / IT / HR

36. 36
● Senior leadership engagement
● Highly qualified & competent RCI team
● Strong cross-functional participation in each event
● Outcomes consistently better than going in
expectations
● Each event identifying additional opportunities &
future events
RCI Key Wins and Learnings
Activity + Engagement = Results
67 Projects /
>700 Employees
Licensed to Kaizen

37. 37
Over Time RCI Supports DPS’ Focus on Total
Shareholder Return
Net Income
Growth
(mid-single digit)
Healthy Free
Cash Flow
Yield
(high-single digit)
Strong
Total
Shareholder
Return
Over Time

38. 38
Attractive Dividend Yield…Expect to Grow Consistently Over
Time. Remaining Excess Cash to Go to Share Repurchases.
38
Share RepurchasesDividends
2009 -2010
$0.60
$1.00
$1.28
2010 -2011 2011 -2012
Grow consistently
over time with earnings
$1,113MM
$400MM -
$500MM
2010 2011
Remaining excess cash

39. 39
● Strong portfolio of brands with leadership
positions
● Consistently executing against our strategy
● RCI gaining traction
● Brands + Execution = Long Term Growth
● Committed to returning excess cash to
shareholders
Key Takeaways