BAT Investor Presentation Deck

22 Belief #7 New Categories are used equally across cohorts FACT NC penetration correlates inversely to the age cohorts of adult consumers AU30 2018 24% 23% 30-44 21% 17% AO45 13%13% Category use - Age Cohorts 53% 62% 73% Solus NC** AU30 2022 35% 22% 30-44 28% 23% AO45 22% 16% Dual FMC-NC** BAT A BETTER TOMORROW 43% 49% 62% Solus FMC* *Factory Made Cigarettes ** NC Includes Snus "Dual-usage" references a transitional period for adult FMC consumers towards a complete switching to NCs during which adult consumers reduce cigarette Source: Kantar Incidence & Track Studies 2022 consumption and choose to add to it consumption of an NC. AU30: Adult consumer from minimum legal age to 30yrs. AO45: Adult consumer over 45 yrs. Canada, Italy, Japan, UK, Sweden

View entire presentation