Imperial Brands Investor Day Presentation Deck

Germany deep dive: attractive market environment with strong Imperial position ● ● ● Attractive market environment Large profit pool with relatively light regulation High affordability and stable consumer base Attractive market outlook - pricing continuing to offset volume decline Increasing downtrading towards lower tiers and FCT where Imperial is well positioned 36 | Capital Markets Day | 27 January 2021 Strong Portfolio Significant player Strong Imperial Positioning across FMC and FCT FMC (c.85% OP) Davidoff CIGARETTES JOHN PLAYER GAULOISES k West SPECIAL #2 player (22% share¹) IMPERIAL BRANDS FCT (c.15% OP) Ⓡ West JOHN PLAYER SPECIAL #1 branded player (17% share¹) 1. Volume Share - Measured as average share during period Oct 19 to Jul 20 - If Private Label excluded : FMC - 26%, FCT - 23% Source: Imperial Internal Estimate

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