Investor Presentaiton

Fiscal Outlook ➤ Czech Republic Eq. €90/'000 cig. (EU minimum) Slovakia '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 PHILIP MORRIS ČR €90/'000 cig. (EU minimum) '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 Minimum Excise Tax Development © 2011 Philip Morris ČR a.s. 18

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