Coca-cola Euro. Regulatory News (CCEP)

COCA-COLA EUROPEAN PARTNERS

Results for the six months ended 28 June 2019

Good first-half, reaffirming full-year 2019 guidance

DAMIAN GAMMELL, CHIEF EXECUTIVE OFFICER, SAID:

"We are one of the world's largest beverage companies with both a solid track record of performance as well as an exciting future, supported by a 24,000 strong team of talented and engaged people. We are fortunate to have the world's best non-alcoholic ready-to-drink brands where we have a leading position within our dynamic and growing market. We are taking the decisions today to invest in the capabilities that we know we will need to win tomorrow. All underpinned by an aligned relationship with The Coca-Cola Company and a strong sustainability agenda, particularly around packaging, where we are taking action and leading innovation.

"We have delivered a good first-half performance, reflecting our continued focus on driving profitable revenue growth through price and mix realisation and solid in market execution, alongside the successful closure of our merger commitments. We remain focused on building this momentum, albeit following a strong third quarter last year, including scaling up on some of our exciting innovations like Coke Energy and the recently launched Costa ready-to-drink coffee in Great Britain.

"We are today reaffirming our full-year guidance for 2019. We remain confident in our annual growth objectives over the mid-term, which make for an attractive investment story underpinned by a strong and flexible balance sheet. This, alongside healthy dividend growth and the continuation of our share buyback programme, collectively demonstrate our focus on delivering sustainable value for our shareholders."

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[1] Refer to 'Note Regarding the Presentation of Alternative Performance Measures' for further details

[2] Unit Case = approximately 5.678 litres or 24 8-ounce servings

[3] Includes the impact of 2.0% related to incremental soft drinks taxes introduced during 2018 in Great Britain and France

[4] Includes the impact of 3.0% related to incremental soft drinks taxes introduced during 2018 in Great Britain and France

[5] Declared at Q1, paid June 2019

[6] €455m for H1 2019

Revenue (+7.0%)

• Comparable volume +3.0% reflecting solid execution partly offset by the impact of last year's soft drinks tax changes

• Revenue per unit case +4.5%[2],[3] benefiting from favourable underlying price & package mix (e.g. small cans volume +17.0%)

• Transactions[4] outpaced volume growth

• Multiple portfolio launches including Light Cola flavours; Coca-Cola Energy; Monster Espresso; Aquarius Enhanced Water; Honest Lemonade

Profit

• Comparable operating profit of €770m, +10.5%[5] (Reported +20.0%) reflecting revenue growth & merger synergies of €55m (€330m cumulative close out of programme)

• Comparable diluted EPS of €1.14[5], +14.0% (Reported +25.5%)

Capital returns

• First-half interim dividend, +19.0% versus last year, maintaining annualised dividend payout ratio of c.50%

• Returned further €550m (11.6m shares) year-to-date via share buyback of previously announced €1.5bn programme (cumulative now €1.05bn; 24.1m shares)

Other

• Reaffirming Full-Year guidance for 2019 (see below)

• Joined the Main Market of London Stock Exchange (standard listing)

• Announced transition to 100% recycled plastic (rPET) for Honest, Smartwater & Chaudfontaine brands by 2020

• Revenue growth in the low single-digit range excluding the impact of incremental soft drinks taxes of approximately 1.0%[5]

• Cost of sales per unit case growth of approximately 2.5% excluding the impact of incremental soft drinks taxes of approximately 1.5%[5]

• Operating profit growth between 6-7%[5]

• Comparable tax rate of approximately 25%

• Diluted earnings per share growth between 10-11%[5],[6]

• Share buyback of up to €1bn

• Free cash flow in the range of €1-1.1bn[7]

• Capital expenditures of approximately €525-575m

• Return on invested capital (ROIC) to improve by approximately 40 basis points

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[1] Refer to 'Note Regarding the Presentation of Alternative Performance Measures' for further details; Change percentages against prior year equivalent period

[2] Fx-Neutral

[3] Includes the impact of 2.0% related to incremental soft drinks taxes introduced during 2018 in Great Britain and France

[4] Defined as the serving container ultimately used directly by the consumer. It can be a standalone container or one part of a multipack

[5] Comparable Fx-Neutral

[6] Assumes share buybacks of €1 billion in 2019

[7] Please refer to 'Supplemental Financial Information - Free Cash Flow' for a description of the change to the definition of the measure to ensure consistency following the adoption of IFRS 16 on 1 January 2019

All values are unaudited, changes versus H1 2018

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[1] France refers to continental France & Monaco.

[2] Iberia refers to Spain, Portugal & Andorra.

[3] Northern Europe refers to Belgium, Luxembourg, Netherlands, Norway, Sweden & Iceland.

Great Britain

• Revenue +4.5% excluding the impact of incremental soft drinks taxes

• Good volume growth supported by Light Colas, Fanta, Schweppes & Monster, partially offset by unfavourable Q2 weather

• Revenue/UC[1] growth supported by positive price & priority small packs[2] volume growth (e.g. small cans +28.5% driven by Schweppes mixers, Appletiser & Coca-ColaTM)

France

• Revenue +6.0% excluding the impact of incremental soft drinks taxes

• Solid volume growth driven by Coca-Cola Zero Sugar, Fanta, Fuze Tea, Monster, Tropico & resolution of last year's customer dispute

• Revenue/UC[1] growth supported by recent pack changes for Coca-ColaTM & priority small packs[2] volume growth (e.g. small glass +6.5% driven by Fuze Tea & Coca-ColaTM)

Germany

• Good volume growth led by the discounter channel & solid growth in Cola-Cola Zero Sugar, Sprite & Monster, partially offset by unfavourable Q2 weather

• Fuze Tea & Honest Tea continue to gain distribution

• Revenue/UC[1] growth supported by positive price & priority small packs[2] volume growth (e.g. small cans +11.0% driven by Monster & Coca-ColaTM)

Iberia

• Solid volume growth reflecting soft weather-driven comparables, improving market trends & solid execution

• Volume growth led by Coca-Cola Classic, Coca-Cola Zero Sugar, Fanta, Monster & Aquarius

• Revenue/UC[1] growth supported by positive price & priority small packs[2] volume growth (e.g. small cans +23.5% driven by Cola-ColaTM)

Northern Europe

• Driven by revenue growth in Belux (+2.5%), Netherlands (+5.0%) & Norway (+4.5%)

• Volume growth led by Coca-Cola Zero Sugar, Monster & Fuze Tea offset by unfavourable Q2 weather

• Revenue/UC[1] growth supported by positive price & priority small packs[2] volume growth (e.g. small cans +12.5% driven by Cola-ColaTM)

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[1] Revenue/UC = Revenue per Unit Case

[2] Priority small packs = PET & Glass < 1litre; Cans

Note: All values are unaudited, changes versus H1 2018 & Fx-Neutral

Comparable volumes, changes versus H1 2018

Coca-ColaTM

• Transactions +3.5%

• Classic -0.5% reflecting the impact of last year's soft drinks taxes

• Lights +9.0% with robust growth across all markets driven by Zero Sugar & new flavours, e.g.

- Zero Sugar Raspberry

- Diet Coke Twisted Strawberry

Flavours, Mixers & Energy

• Fanta +3.5% reflecting higher distribution of Zero & new flavours (e.g. Grape Zero)

• Energy +17.0% with strong performance of the Monster Mango Loco & Ultra ranges; Encouraging initial customer reaction to Coca- Cola Energy, now in all markets

• Schweppes +6.5% with growth in both Mixers & Lemonade. Schweppes 1783 & Royal Bliss continued to grow distribution

Hydration

• Reflecting reduced low value promotions & unfavourable Q2 weather in Northern Europe & Germany

• Encouraging initial customer reaction to Aquarius Enhanced Water, launched in Germany, GB & the Netherlands

• Isotonic drinks +3.0% led by growth in Iberia, France & Germany

RTD Tea, RTD Coffee, Juices & Other[1]

• Solid share gains in the RTD tea category as Fuze Tea continues to gain scale

• Honest brands saw solid growth reflecting distribution gains across all markets

• Launched Monster Espresso with good initial customer reaction

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[1] RTD refers to Ready-To-Drink

• 8 August 2019 at 12:30 BST, 13:30 CEST and 7:30 a.m. EDT; via www.ccep.com

• Replay & transcript will be available at www.ccep.com as soon as possible

• Third-quarter trading update: 29 October 2019

• Full 2019 calendar available here: http://ir.ccep.com/financial-calendar

• Previous results and presentations available here: http://ir.ccep.com/results-and-presentations/recent-results-and-presentations

Investor Relations

Sarah Willett Claire Michael Joe Collins Email

+44 7970 145 218 +44 7528 251 033 +44 7583 903 560 ccepir@ccep.com

Media Relations

Shanna Wendt Nick Carter Email

+44 7976 595 168 +44 7979 595 275 comms@ccep.com

Coca-Cola European Partners plc is a leading consumer goods company in Western Europe, making, selling and distributing an extensive range of non-alcoholic ready-to-drink beverages and is the world's largest Coca-Cola bottler based on revenue.

Coca-Cola European Partners serves a consumer population of over 300 million across Western Europe, including Andorra, Belgium, continental France, Germany, Great Britain, Iceland, Luxembourg, Monaco, the Netherlands, Norway, Portugal, Spain and Sweden. The Company is listed on Euronext Amsterdam, the New York Stock Exchange, London Stock Exchange and on the Spanish Stock Exchanges, trading under the symbol CCEP.

For more information about CCEP, please visit our website at www.ccep.com and follow CCEP on Twitter at @CocaColaEP.

This document contains statements, estimates or projections that constitute "forward-looking statements" concerning the financial condition, performance, results, strategy and objectives of Coca-Cola European Partners plc and its subsidiaries (together "CCEP" or the "Group"). Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "plan," "seek," "may," "could," "would," "should," "might," "will," "forecast," "outlook," "guidance," "possible," "potential," "predict," "objective" and similar expressions identify forward-looking statements, which generally are not historical in nature.

Forward-looking statements are subject to certain risks that could cause actual results to differ materially from CCEP's historical experience and present expectations or projections. As a result, undue reliance should not be placed on forward-looking statements, which speak only as of the date on which they are made. These risks include but are not limited to those set forth in the "Risk Factors" section of CCEP's 2018 Integrated Report/Annual Report on Form 20-F, including the statements under the following headings: Changing consumer preferences and the health impact of soft drinks (such as sugar alternatives); Legal and regulatory intervention (such as the development of regulations regarding packaging and taxes); Packaging and plastics (such as climate change, resource scarcity, marine litter and water scarcity); Competitiveness and transformation; Cyber and social engineering attacks; The market (such as customer consolidation and route to market); Economic and political conditions (such as continuing developments in relation to the UK's exit from the EU); The relationship with TCCC and other franchisors; Product quality; and Other risks.

Due to these risks, CCEP's actual future results, dividend payments, and capital and leverage ratios may differ materially from the plans, goals, expectations and guidance set out in CCEP's forward-looking statements. Additional risks that may impact CCEP's future financial condition and performance are identified in filings with the SEC which are available on the SEC's website at www.sec.gov. CCEP does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required under applicable rules, laws and regulations. CCEP assumes no responsibility for the accuracy and completeness of any forward-looking statements. Any or all of the forward-looking statements contained in this filing and in any other of CCEP's respective public statements may prove to be incorrect.

We use certain alternative performance measures (non-GAAP performance measures) to make financial, operating and planning decisions and to evaluate and report performance. We believe these measures provide useful information to investors and as such, where clearly identified, we have included certain alternative performance measures in this document to allow investors to better analyse our business performance and allow for greater comparability. To do so, we have excluded items affecting the comparability of period-over-period financial performance as described below. The alternative performance measures included herein should be read in conjunction with and do not replace the directly reconcilable GAAP measure.

For purposes of this document, the following terms are defined:

''As reported'' are results extracted from our condensed consolidated interim financial statements.

''Comparable'' is defined as results excluding items impacting comparability, such as restructuring charges, out of period mark-to-market impact of hedges and net tax items relating to rate and law changes. Comparable volume is also adjusted for selling days.

''Fx-neutral'' is defined as comparable results excluding the impact of foreign exchange rate changes. Foreign exchange impact is calculated by recasting current year results at prior year exchange rates.

''Free cash flow'' is defined as net cash flows from operations, less capital expenditures, payments of principal on lease obligations and interest paid, plus proceeds from capital disposals. Please refer to Supplemental Financial Information - Free Cash Flow for a description of the change to the definition of the measure following the adoption of IFRS 16 on 1 January 2019.

Free cash flow is used as a measure of the Group's cash generation from operating activities, taking into account investments in property, plant and equipment and non-discretionary lease and interest payments.

''Adjusted EBITDA'' is calculated as Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA), after adding back items impacting the comparability of year-over-year financial performance. Adjusted EBITDA does not reflect our cash expenditures, or future requirements for capital expenditures or contractual commitments. Further, Adjusted EBITDA does not reflect changes in, or cash requirements for, our working capital needs, and although depreciation and amortisation are non-cash charges, the assets being depreciated and amortised are likely to be replaced in the future and Adjusted EBITDA does not reflect cash requirements for such replacements.

''Net Debt'' is defined as the net of cash and cash equivalents less currency adjusted borrowing. We believe that reporting Net Debt is useful as it reflects a metric used by the Group to assess cash management and leverage. In addition, the ratio of net debt to Adjusted EBITDA is used by investors, analysts and credit rating agencies to analyse our operating performance in the context of targeted financial leverage.

''Capex'' or "Capital expenditures'' is defined as payments for purchases of property, plant and equipment plus purchases of capitalised software less proceeds from disposals of property, plant and equipment. Capex is used as a measure to ensure that the cash spending is in line with the Group's overall strategy for the use of cash.

''ROIC'' is defined as comparable operating profit after tax divided by the average of opening and closing invested capital for

the year. Invested capital is calculated as the addition of borrowings and equity less cash and cash equivalents. ROIC is used as a measure of capital efficiency and reflects how well the Group generates comparable operating profit relative to the

capital invested in the business.

''Dividend Payout Ratio'' is defined as dividends as a proportion of comparable profit after tax.

Additionally, within this document, we provide certain forward-looking non-GAAP financial Information, which management uses for planning and measuring performance. We are not able to reconcile forward-looking non-GAAP measures to reported measures without unreasonable efforts because it is not possible to predict with a reasonable degree of certainty the actual impact or exact timing of items that may impact comparability throughout 2019.

Unless otherwise stated, percent amounts are rounded to the nearest 0.5%.

The following provides a summary reconciliation of CCEP's reported and comparable results for the periods presented:

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[1] Amounts represent the net out-of-period mark-to-market impact of non-designated commodity hedges.

[2] Amounts represent restructuring charges related to business transformation activities. For the six months ending 28 June 2019, this includes costs in relation to the commencement of a transformation project relating to our cold drink operations aimed at delivering a modern, differentiated and versatile equipment fleet in order to optimise net cooler placements throughout our markets. As part of this strategy, our capital expenditure on cold drink equipment will focus on the introduction of a new, more cost effective cooler into our markets, whilst reducing maintenance and refurbishment support spending on our older equipment. We began rolling out the new commercial strategy during the first half of 2019. As a result of the operational impact of these strategic changes, we incurred a non-cash restructuring charge in the period of €24 million relating to the write down and accelerated depreciation of aged cold drink equipment assets. We expect the majority of the aged cold drink equipment assets to be removed from customer locations over a reasonable period of time and replaced with newer equipment.

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[1] The change in revenue and revenue per unit case includes the impact of 1.0% and 2.0% for the second-quarter and six months ended 28 June 2019, respectively, related to incremental soft drinks taxes introduced during 2018 in Great Britain and France.

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[1] Iberia refers to Spain, Portugal & Andorra.

[2] France refers to continental France & Monaco.

[3] Note 3 to the condensed consolidated interim financial statements provides further detail on revenue by geography.

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[1] RTD refers to Ready-To-Drink.

Cost of Sales

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[1] The change in cost of sales and cost of sales per unit case includes the impact of 3.0% for the six months ended 28 June 2019 related to incremental soft drinks taxes introduced during 2018 in Great Britain and France.

Reported cost of sales were €3,594 million, up 7.5 percent. Comparable cost of sales were €3,597 million, up 8.5 percent on a both a comparable and a comparable and fx-neutral basis. Cost of sales per unit case increased by 6.5 percent on a comparable and fx-neutral basis. This reflects brand mix, higher concentrate costs through the incidence pricing model given revenue per unit case growth, as well as the impact of incremental soft drinks taxes introduced during 2018 in Great Britain and France.

Operating Expenses

Reported operating expenses were €1,482 million, down 0.5 percent. Comparable operating expenses were €1,435 million, up 1.0 percent on both a comparable and a comparable and fx-neutral basis. This reflects our continued investments for the future partially offset by synergy benefits and a continued focus on managing expenses.

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[1]As a result of the adoption of IFRS 16 on 1 January 2019, the majority of the Group's lease obligations are now presented on the balance sheet as Right Of Use (ROU) assets within Property, Plant and Equipment.

Cash outflows relating to operating leases had previously been presented in Net cash flows from operating activities and, from 1 January 2019, these equivalent cash flows are now included as cash flows from financing activities. During the six months ended 28 June 2019, total cash outflows from payments of principal on lease obligations were €61 million.

Our lease obligations are operating in nature and so we believe it is appropriate to include the related cash outflows in our Free Cash Flow measure. The Group has thus elected to amend its definition of Free Cash Flow and now includes cash outflows from lease obligations. This change is commensurate with the overall objective of the Non-GAAP measure, being a measure of the Group's cash generation from operating activities and taking into account our investing activities and non-discretionary interest payments.

In 2018, whilst our operating lease cash flows were presented as operating cash flows, our finance lease cash flows were included within financing activities and not adjusted for within Free Cash Flow. In amending our Free Cash Flow definition in 2019, our Free Cash Flow for the comparative 2018 period has been reduced by €10 million, to €333 million.

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[1]As a result of the adoption of IFRS 16 on 1 January 2019, Borrowings now include the majority of the Group's leasing obligations. As at 28 June 2019, lease obligations included within Total borrowings totalled €375 million. For the comparative period, only finance lease obligations of €75 million were included within Total borrowings.

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[1] Depreciation in 2019 includes the effects relating to the adoption of IFRS 16 on 1 January 2019. For the 6 months ended 28 June 2019, depreciation related to ROU assets capitalised under IFRS 16 was €59 million.

[2] Amounts represent the net out-of-period mark-to-market impact of non-designated commodity hedges.

[3]Amounts represent restructuring charges related to business transformation activities, excluding accelerated depreciation included in the depreciation and amortisation line.

The Directors recognise that the Group's risk management programme is essential to understand the nature, scope, potential likelihood and impact of enterprise-wide risks and to manage them effectively, responding appropriately to the changing risk profile of our operating environment. The Directors believe a strong risk culture with a clear risk management programme in CCEP will ensure well-informed business decisions are taken and risks are actively managed throughout the Group.

The following is a summary of the Group's Principal Risks that are included in our 2018 Integrated Report and Form 20-F for the year ended 31 December 2018:

• Changing consumer preferences and the health impact of soft drinks

• Legal and regulatory intervention

• Packaging and plastic

• Competitiveness and transformation

• Cyber and social engineering attacks

• Market

• Economic and political conditions

• Relationship with The Coca-Cola Company (TCCC) and other franchisors

• Product quality

Our principal risks have not changed materially in the first 6 months of 2019 and represent our principal risks for the remaining six months of the year. For further details of our principal risks please refer to pages 40 - 43 and for the risk factors please refer to pages 162 - 168 of our 2018 Integrated Report and Form 20-F.

Related party disclosures are presented in Note 10 of the Notes to the condensed consolidated interim financial statements contained in this interim management report.

After making appropriate enquiries, the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for a period of 12 months from the date of signing these accounts. Accordingly, the condensed consolidated interim financial statements have been prepared on a going concern basis.

The Directors of the Company confirm that to the best of their knowledge:

• The Condensed Consolidated Interim Financial Statements for the six months ended 28 June 2019 have been prepared in accordance with International Accounting Standard 34, 'Interim Financial Reporting', as adopted by the European Union and issued by the International Accounting Standards Board.

• The interim management report includes a fair review of the information required by the Disclosure Guidance and Transparency Rules of the UK Financial Conduct Authority (DTR) 4.2.7 R and DTR 4.2.8 R as follows:

• DTR 4.2.7 R: an indication of important events that have occurred during the first six months of the financial year, and their impact on the condensed set of financial statements; and a description of the principal risks and uncertainties for the remaining six months of the financial year; and

• DTR 4.2.8 R: related parties transactions that have taken place in the first six months of the current financial year and that have materially affected the financial position or the performance of the Group during that period; and any changes in the related parties transactions described in the last annual report that could have a material effect on the financial position or performance of the Group in the first six months of the current financial year.

The Directors of the Company are shown on pages 50-54 in the 2018 Integrated Report and Form 20-F for the year ended 31 December 2018, save for the following changes:

• L. Phillip Humann and Curtis R. Welling stepped down as directors at the end of the AGM on 29 May 2019

• Dagmar Kollmann and Lord Mark Price were appointed as directors with effect from the end of the AGM on 29 May 2019

A list of current directors is maintained on CCEP's website: www.ccep.com.

On behalf of the Board

8 August 2019

Independent Review Report to Coca-Cola European Partners plc

Introduction

We have been engaged by the Company to review the condensed set of financial statements in the half-yearly financial report for the six months ended 28 June 2019 which comprises condensed consolidated interim income statement, condensed consolidated interim statement of comprehensive income, condensed consolidated interim statement of financial position, condensed consolidated interim statement of cash flows, condensed consolidated interim statement of changes in equity and the related explanatory notes 1 - 14. We have read the other information contained in the half yearly financial report and considered whether it contains any apparent misstatements or material inconsistencies with the information in the condensed set of financial statements.

This report is made solely to the company in accordance with guidance contained in International Standard on Review Engagements 2410 (UK and Ireland) "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Auditing Practices Board. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company, for our work, for this report, or for the conclusions we have formed.

Directors' Responsibilities

The half-yearly financial report is the responsibility of, and has been approved by, the directors. The directors are responsible for preparing the half-yearly financial report in accordance with the Disclosure Guidance and Transparency Rules of the United Kingdom's Financial Conduct Authority.

As disclosed in note 1, the annual financial statements of the group are prepared in accordance with IFRS as issued by the International Accounting Standards Board and IFRSs as adopted by the European Union. The condensed set of financial statements included in this half-yearly financial report has been prepared in accordance with International Accounting Standard 34, "Interim Financial Reporting", as issued by the International Accounting Standards Board and as adopted by the European Union.

Our Responsibility

Our responsibility is to express to the Company a conclusion on the condensed set of financial statements in the half-yearly financial report based on our review.

Scope of Review

We conducted our review in accordance with International Standard on Review Engagements (UK and Ireland) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Auditing Practices Board for use in the United Kingdom. A review of interim financial information consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing (UK) and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the condensed set of financial statements in the half-yearly financial report for the six months ended 28 June 2019 is not prepared, in all material respects, in accordance with International Accounting Standard 34 as issued by the International Accounting Standards Board and as adopted by the European Union and the Disclosure Guidance and Transparency Rules of the United Kingdom's Financial Conduct Authority.

Ernst & Young LLP

London

8 August 2019

Coca-Cola European Partners plc

Condensed Consolidated Interim Income Statement (Unaudited)

The accompanying notes are an integral part of these condensed consolidated interim financial statements.

Coca-Cola European Partners plc

Condensed Consolidated Interim Statement of Comprehensive Income (Unaudited)

The accompanying notes are an integral part of these condensed consolidated interim financial statements.

Coca-Cola European Partners plc

Condensed Consolidated Interim Statement of Financial Position (Unaudited)

The accompanying notes are an integral part of these condensed consolidated interim financial statements.

Coca-Cola European Partners plc

Condensed Consolidated Interim Statement of Cash Flows (Unaudited)

The accompanying notes are an integral part of these condensed consolidated interim financial statements.

Coca-Cola European Partners plc

Condensed Consolidated Interim Statement of Changes in Equity (Unaudited)