BAT Results Presentation Deck

1 2 Q-0 GEOP 3. Driving consistent U.S. Combustibles value growth DIFFERENTIATION RATIO Newport 3 var Different DIFFERENCE vs ELASTICITY a HIGH correlation BRAND ELASTICITY RATIO 3 Brandt H **** POL 5 eeee 6 Pricing Assortment Activation Optimised Pricing Maximise Assortment Trade Granular Revenue Growth Management (RGM) 4 Portfolio Strategy Activation Total Customer Investment Efficiency 3 Portfolio Architectu Brand Price ecture 2 Price Architecture Customer Investment LOW END 6:43 Incremental NO 1000 GBP S Portfolio Whitespace Opportunity VALUE WAP $6.52 $6.29 $1.50 Volume building event dice fequancy wordt events do Best/worst events matri Faks Mutxesour ASU35 INDEX e BAT A BETTER TOMORROW CAMEL Newport Feb Apr Jun Aug Oct Dec Feb Apr Jun Aug Oct Dec Feb Apr Jun Aug PREMIUM +0.40 LTM> $6.92 1 $7.21 $7.02 $5.80 $6.52 Dest events 1400 Colour coding Incremental profit 000 GBP Sharpening our execution through data-driven commercial plans 16

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