Imperial Brands Investor Day Presentation Deck

Heated tobacco: our new, focused approach 1 2 3 Our Ambition Reaching a fair market share positioning Enabling a meaningful contribution to net revenue Positive returns over the course of our 5-year strategy 62 Capital Markets Day | 27 January 2021 Realistic approach for our heated tobacco business 東 Re-focus our heated tobacco efforts IMPERIAL BRANDS Launch in a few European markets first... in our stronghold markets in Europe, where we have a strong combustibles business and good route to market/ retail partnerships scaling subsequently with finetuned proposition

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