BAT Results Presentation Deck

US Vapour | Strong growth in Vuse value share Vuse value share +8.7 ppts Vuse Alto value share +12.7 ppts 12.5 2.7 Dec '18 Source: Retail value share data Dec 19 with growth v Dec 18. See Appendix A3. 21.2 15.4 Dec '19 V vuse 26

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