BAT Results Presentation Deck

Velo: International Leadership Driven by Superior Product Leading in both established and new oral markets c.95% of Industry Revenue, including US SWE NOR + 67% DE 64% CH + 95% 50% DEN 91% CZE 87% With superior products** and mix Overall Product Appeal VELO Competitor 1 Competitor 2 Established oral market 4.7 4.5 4.6 4.7 BAT New to oral market + 4.9 4.2 A BETTER TOMORROW *Volume share. Includes EPOK/LYFT brands in ENA. Share of Modern oral category: Dec 2020. The US market accounts for c. 50% Modern Oral industry revenue. **Product appeal based on 2020 Consumer Quantitative Product Research, Sweden & Switzerland. Velo brand represents over 50% of FY20 Modern Oral markets.. Continue to migrate remaining EPOK, LYFT brands during 2021. 19

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