Wells Fargo Securities 2018 Consumer ConferenceSeptember 27, 2018

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Safe Harbor StatementsForward Looking Statements: This presentation contains forward-looking statements within the meaning of Section27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and applicable Canadiansecurities laws conveying management's expectations as to the future based on plans, estimates and projections atthe time the Company makes the statements. Forward-looking statements involve inherent risks and uncertaintiesand the Company cautions you that a number of important factors could cause actual results to differ materiallyfrom those contained in any such forward-looking statement. The forward-looking statements are based onassumptions regarding management’s current plans and estimates. Factors that could cause actual results to differmaterially from those described in this presentation include, among others: risks relating to any unforeseen changesto or effects on liabilities, future capital expenditures, revenues, expenses, earnings, synergies, indebtedness,financial condition, losses and future prospects; and the effect of economic, competitive, legal, governmental andtechnological factors on Cott’s business. The foregoing list of factors is not exhaustive. Readers are cautioned notto place undue reliance on these forward-looking statements, which speak only as of the date hereof. Readers areurged to carefully review and consider the various disclosures, including but not limited to risk factors contained inthe Company's Annual Report in the Form 10-K for the year ended December 30, 2017 and its quarterly reports onForm 10-Q, as well as other periodic reports filed with the securities commissions. The Company does not, exceptas expressly required by applicable law, undertake to update or revise any of these statements in light of newinformation or future events.

Non-GAAP Measures: The Company routinely supplements its reporting of GAAP measures by utilizing certainnon-GAAP measures to separate the impact of certain items from its underlying business results. Since theCompany uses these non-GAAP measures in the management of its business, management believes thissupplemental information, including on a pro forma basis, is useful to investors for their independent evaluation andunderstanding of Cott’s business. The non-GAAP financial measures described above are in addition to, and notmeant to be considered superior to, or a substitute for, the Company's financial statements prepared in accordancewith GAAP. In addition, the non-GAAP financial measures included in this presentation reflect management'sjudgment of particular items, and may be different from, and therefore may not be comparable to, similarly titledmeasures reported by other companies. A copy of this presentation may be found on www.cott.com.

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PRES

ENTE

RS Chief Financial Officer

JAY WELLS

Mr. Wells was appointed ChiefFinancial officer in 2012. Prior tojoining Cott, he held various seniorfinance positions with Molson Coorsfrom 2005 to 2012, including ChiefFinancial Officer of Molson CoorsCanada, a subsidiary of MolsonCoors Brewing Company, andGlobal Vice President, Treasury,Tax, and Strategic Finance ofMolson Coors Brewing Company.From 1990 to 2005, Mr. Wells heldseveral positions within Deloitte andTouche LLP, including partner.

VP, Investor Relations

JARROD LANGHANS

Mr. Langhans leads thedevelopment of strategy,operating plans, budget, andexecution of the IR program, inpartnership with the ChiefFinancial Officer with the objectiveof educating and updatinginvestors and analysts about thecompany to achieve a fair relativestock value.

The New Cott OverviewA Leading International Services Company

Annual Sales >$2.35bn (2018E)

>2.4mm customers served annually >3,600 direct-to-consumer routes >60 manufacturing sites and >360

branch distributionand warehouse

facilities

Operations in the US, Canada, Israel and

17 European countries

1 2 3

4 5 6Track record of successfully

integrating acquisitions

Source: Cott Management. 4

We are a leading route based North American and European water, coffee, tea and filtration service provider within HOD, food service, convenience and hospitality

The New Cott OverviewA Leading International Services Company

Source: Cott Management.

With annual net sales of over $2.35 billion (2018E)

Focused on route based services in water, coffee, tea and filtration as well as coffee roasting, tea blending and extract/ingredient production

Market leading brands and services in channels with barriers to entry

Delivering quality products and services to customers and consumers alike while generating superior value for our shareholders

Route Based Services(North America and Europe)

Coffee, Tea & Extract Solutions

(U.S.)

Coffee Roasting Tea Blending

Liquid Extract

All Other

5

Be the preeminent international route based direct to consumer water and coffee solutions service provider with superior shareholder returns through above market organic growth, expanding margins, growing free cash flow and further overlapping and complementary acquisitions with a key focus on increasing customer penetration and route density.

Our Vision

6

Consolidation / customer list opportunities at highly synergistic values

7

Our Mission

Strong compound free cash flow generation

Margin Expansion driven by scaled platforms with increased customer and route density

Focused innovation within product development, route logistics and technology creating further growth, cross sell and customer service opportunities

Organic Growth from “Better-for-You” product offerings (positioned in growing categories of water, coffee, tea, filtration and extracts)

Focus on sustainability to drive efficiencies, inspire innovation, and build a platform for long-term growth and assured supply.

Organic Growth From “Better-for-You” Product Offerings Positioned In Growing Categories

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U.S. Bottled Water Cooler Unit Placements

5,190 5,240

5,380 5,500

5,690

5,860

5,980 6,052 6,138

6,223 6,309

5,000

5,250

5,500

5,750

6,000

6,250

6,500

2010 2011 2012 2013 2014 2015 2016 2017 2018E 2019E 2020E

U.S. Filtration Unit Placements

850 940

1,050 1,165

1,259 1,367

1,493 1,629

1,775

1,932

2,101

800

1,050

1,300

1,550

1,800

2,050

2,300

2010 2011 2012 2013 2014 2015 2016E 2017E 2018E 2019E 2020E

In 000’sIn 000’s

HOD Category Bottled Water Volume and Revenue Growth

$1,433 $1,431 $1,483$1,542

$1,621 $1,684$1,726 $1,748

$500

$700

$900

$1,100

$1,300

$1,500

$1,700

$1,900

2010 2011 2012 2013 2014 2015 2016 2017

HOD Bottled Water Revenue(Millions of Dollars)

CAGR 2010-17 of +2.9%

Source: Zenith International – USA POU and Bottled Water Coolers Report Beverage Marketing Corporation – US Bottled Water Through 2022 Report (July 2017)

1.16 1.17

1.20 1.22

1.28

1.34 1.38

1.40 1.41

1.1

1.2

1.3

1.4

1.5

2010 2011 2012 2013 2014 2015 2016 2017 2018 E

HOD Bottled Water Volume(Millions of Gallons)

CAGR 2010-18 of +2.6%

Focused Innovation – Product Development, Route Logistics And Technology Creating Further Growth

Source: Cott Management. 9

Lead Core Category Innovation

Aqua Café-RProvide a convenient multi-beverage solution for

small office and residential customers

StormProvide a sleek, modern, convenient bottom load

cooler to a broader potential customer base

Remington FiltrationLead innovation of filtration equipment that offers

certified, long-lasting quality drinking water

Focused Innovation – Product Development, Route Logistics And Technology Creating Further Growth

Source: Cott Management. 10

Route Logistics

Investments in logistics will enable significant improvements in the service we offer, increase route density, reduce costs and create the potential for new revenue and customer opportunities

Technology

Technology

Process

• Omnitracs Routing Software• Data Capture• System and Data Integration• Business Rule Automation

• Continual Route Planning• Re-Alignment Process• Daily Routing Process• Location Selection Process• Data Governance

• Route Sales & Service• Enhanced user experience; improved

performance and information visibility• Significant efficiency improvements, reduced

miss-keys & data errors• Access to real-time data changes (Customer

data, Route data)Handheld

Modest Margin Expansion Driven by Scaled Platforms With Increased Customer And Route Density

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Company A6%

Leveraging our leading platforms of HOD Water, Office Coffee, and Filtration Services across 20 countries drives margin expansion through increased customer base and consumption

Oldest and largest HOD Water business with a leading position and over 70,000

customers

U.S. Market Leader

Leader in HOD Water Delivery

Top 5 in OCS

HOD Water(1) OCS(2)

DS Services

~31%

Nestle~30%

Smaller Competitors

~39%

DS Services~3%

Remainder of Top 5~17%

Smaller Competitors

~80%

Canadian Market Leader

Source: Company information, Management estimates.Note: 2015 market shares based on management estimates.(1) Source: Beverage Marketing Corporation. Category size of $1.7 billion and reflects only bottled water and excludes items such as cooler rent, cups, etc.(2) Source: ‘Coffee sales rise, so do costs: State of the Coffee Service Industry’, Automatic Merchandiser, September 2015.(3) Company information.

HOD Water(3) OCS(3)

Eden20%

Company A3%

Company B3%

Next 513%

Other61%

Eden4%

Other90%

European Market Leader

Leader in HOD Water Delivery # 2 in OCS

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Our operations throughout Europe

are now 100% powered by green

energy sources

Our European operations are low carbon, offsetting over141,000 tonnes of CO2 in 9

markets with Carbon Neutral Product certification

A longer bottlelife means less plastic waste

Focus on Sustainability to Drive Efficiencies, Inspire Innovation, and Build a Platform for Long-Term Growth and Assured Supply

Over the last 10 years, we have reduced the amount of plastic in

our U.S.-and Canada-branded 0.5-liter bottles by more than

50% and the caps by 25%

Our U.S. branded 3-and 5-gallon water bottles and our Canadian-branded 11.3- and 18.9-liter bottles are reused up to 50 times. At the end of

their useful life, the bottles are recycled and used to make useful new products.

Recent vehicle purchases in our North American

operations promise a 40% increase in fuel productivity

To reduce delivery mileage, our representatives use smartphones

to optimize their routes

We work to reduce the environmental impact of our company operations as much as possible, including optimized routing, bottle re-use and recycling, and e-invoicing among other initiatives

We offer bio-degradable and paper cup options to our customers to reduce

use of plastic cups

SOCI

ALEN

VIRO

NM

ENTA

LEC

ON

OM

IC

Raíz Sustainability® is our innovative sustainable sourcing platform for coffee

and tea with inclusive approach to support smallholder farmers in 6

countries with 15 fully engaged projects and more than 4,900 farmers impacted

Sourcing with Purpose to

advance resilient supply chains

Source: Cott Management.

Customer List / Tuck-In Acquisition Opportunities At Highly Synergistic Value

Source: Cott Management.

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The New Cott model features scale platforms and embedded customer bases with the ability to add on accretive tuck-in acquisitions to fuel further growth and platform density

U.S. Small HOD Tuck-ins (Avg ~$2M)

U.S. Small OCS Tuck-ins (Avg ~$2M)

Europe Small HOD Tuck-ins (Avg ~$2M) Mid-Sized Tuck-ins

($10M to $60M)

Europe Small OCSTuck-ins (Avg ~$2M)

Acquire:Business operations and assets

including customer lists, depots, manufacturing plants, fleet, etc.

Synergies are gained through depot consolidation as well as

utilization of back office and call center in place at Cott.

Synergize to ~5x to 7x

Acquire:Customer List

Bottles and Coolers

Add density to current routes, call center volume and back office

Synergize to ~4x

Acquire:Customer List

Brewers

Add density to current routes, call center volume and back office

Synergize to ~5x

Acquire:Customer List

Bottles and Coolers

Add density to current routes, call center volume and back office

Synergize to ~3x

Acquire:Customer List

Brewers

Add density to current routes, call center volume and back office

Synergize to ~4x

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In addition to EBITDA (Growth, Tuck-ins, Synergies), the following items are expected to drive Q3 and Q4 2018 free cash flow

Capital Expenditures

Interest and Tax Payments

Working Capital Reversal

Adjusted FCF Q3 and Q4 2018

Adjusted FCF Q2 2018 YTD

Estimated Adjusted FCF 2018

~ $60 million

~ $21 million

~ $15 to $20 million benefit

~ $96 to $101 million

~ $19 million

~ $115 to $120 million

Q3 and Q4 2018

Source: Cott Management.

21%

26%29%

24%

Q1 Q2 Q3 Q4

2018E Interest and Tax Payments

2018E Adjusted EBITDA

18%

53%

29%

Q1 Q2 Q3 Q4

Strong Free Cash Flow Generation and Capital Deployment

Strong Free Cash Flow Generation and Capital Deployment

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2019E Adjusted Free Cash Flow (1) (2)Free Cash Flow Drivers

Stable Dividend Highly Synergistic Tuck-In Acquisitions

Revenue growth

Synergy Capture

Interest savings

Margin expansion

Highly synergistic acquisitions

Bridge to 2019(E) Adj. Free Cash Flow

Capacity to Fund Scale M&AOpportunistic Share Repurchase Program___________________________Source: Cott Management.(1) Adjusted free cash flow calculated as cash flow from operations (excluding acquisition, integration and transaction costs) less capital expenditures.(2) Adjusted free cash flow is based off of “New Cott.”(3) Includes Crystal Rock Acquisition

Cott can leverage its growing segments to maximize free cash flow and create shareholder value through its capital deployment plan

2018(E) Adj. FCF $115 - $120mm

+ Revenue growth, margin expansion and operations $10 - $15mm

+ Synergy capture / elimination of traditional business divestiture dis-synergies

$9 - $10mm

+ Interest savings $3 - $4mm

+ Tuck-in acquisitions, inclusive of increased activity(3) $5 - $10mm

2019(E) Adj. FCF $150mm plus

Sheet1

2018(E) Adj. FCF$115 - $120mm

+ Revenue growth, margin expansion and operations$10 - $15mm

+ Synergy capture / elimination of traditional business divestiture dis-synergies$9 - $10mm

+ Interest savings$3 - $4mm

+ Tuck-in acquisitions, inclusive of increased activity(3)$5 - $10mm

2019(E) Adj. FCF$150mm plus

The New Cott is Well Positioned for the Future

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1

3

5

7

2

4

6

8

Multiple attractive platforms and positions in growing categories

Positive top line momentum across all businesses

Gaining market share in US and European HOD and US Coffee Roasting

Pricing power through low customer concentration within Route Based Services

Significant further value creating opportunities from small, medium and larger scale acquisitions

Successful progression on integration

Good synergy capture and positive momentum to deliver remaining synergies

Reduced debt and a strengthened balance sheet

Outstanding debt – long term with fixed coupons

Growing adjusted free cash flow

9

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www.cott.comthank you

Slide Number 1Slide Number 2PRESENTERSSlide Number 4Slide Number 5Slide Number 6Slide Number 7Slide Number 8Slide Number 9Slide Number 10Slide Number 11Slide Number 12Slide Number 13Slide Number 14Slide Number 15Slide Number 16Slide Number 17