Imperial Brands Investor Day Presentation Deck

FY21 guidance remains unchanged Tobacco NGP COVID-19 Tax Rate Action to stabilise business; expect moderated losses will continue IMPERIAL BRANDS Strong underlying pricing though continued mix headwind; lower stock profits 86 Capital Markets Day | 27 January 2021 Expect unwind of temporary consumption benefit; more normal tobacco declines Not expecting significant recovery in duty free during the year Upward pressure as previously guided; 2% headwind to EPS in 2021 Low-mid single digit organic operating profit growth & organic EPS slightly ahead at constant currency Profit guidance excludes any impact of foreign currency movements and is organic, excluding dilution impact from sale of Premium Cigars

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