BAT Investor Conference Presentation Deck

US Combustibles: a Source of Value Growth Strong Results +10 bps Volume Share* 11.8 Japan +45bps Value Premium Share. Share* 10.1 +70bps ↑ USA 8.8 Low cigarette prices relative to income** Russia 8.4 8.1 Germany Vietnam Share growth versus FY19. *For share definitions, See Appendix A3. ** Income defined as GDP per capita ('000) / average pack price (£) Source: Euromonitor, Oxford economics, Company internal data 6.1 Strong Brands Newport Highest share* & value share* growth in market (+50bps vs FY'19) China 5.6 Turkey 3.0 2.8 NATURAL AMERICAN SPIRIT Fastest growing. brand in the market (+5% volumes vs FY'19) Indonesia Egypt BAT A BETTER TOMORROW 0.6 India 41

View entire presentation