Financial Results and Outlook

Ingredients Platform Formation Capital Allocation Strategy External Experts Study M&A Lead Adjacency Hired Identification FruitSmart Acquisition Silva Acquisition Shank's Acquisition 2017 2018 2019 2020 2021 Capital Allocation Strategy Announced Process and Pipeline Buildout Ingredients Lead Hired May 2018 Strengthening and investing for growth in our core tobacco business; Capital Allocation Strategy Increasing our strong dividend; Exploring growth opportunities in adjacent industries and markets that utilize our assets and capabilities; and Returning excess capital through share repurchases. 51

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