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Investor Presentaiton

• • IQOS benefits IQOS heats tobacco instead of burning it and produces a tobacco based aerosol that provides real tobacco taste and satisfaction while reducing the levels of harmful and potentially harmful chemicals generated on average by 90 - 95% compared to the smoke of a standard reference cigarette, designed for scientific research purposes.* Based on the scientific evidence so far, switching completely to IQOS is likely to present less risk of harm than continuing to smoke cigarettes and, therefore, it is a better choice than smoking cigarettes. Important information: this does not mean that IQOS is risk-free. Please log on to www.pmi.com or www.pmiscience.com to find more information on IQOS and also on www.svetbezkoure.cz, which is coming soon. * Average of the reductions in the concentrations (weight per stick) of individual HPHCs measured in the IQOS aerosol compared to the smoke from a standard 9.4 mg 'tar' reference cigarette (3R4F). Aerosol and smoke collections performed under the Health Canada Intense machine- smoking regime (55 mL puff volume, 2 second puff duration, 30 second interval puff). Reduction calculations exclude nicotine. REDUCED RISK PRODUCTS RRP 7
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