BAT Results Presentation Deck

MARKETS: Contrasting EM/DM COVID impacts Source: Company data DMs (c.75% revenue) H1 Industry Volume O GER USA JPN ITA +3.7% +0.8% -3.9% -4.0% BAT A BETTER TOMORROW EMS (c.25% revenue) H1 Industry Volume BRA +7.8% RUS -2.6% VNM -8.8% MEX -14.4% 41

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