BAT Results Presentation Deck

Together with c.£100m reduced losses* from New Categories driven by growing scale Improved Trade Margin** Reduced Cost of Goods Marketing Spend Effectiveness (MSE) • Vuse Trade Margins improved by 31% ● ● ● ● Further scale benefits c.£220m productivity savings delivered in 2021 Vuse Cost of Goods reduced by 22% driven by automation Revenue Growth Management Leveraging big data analytics Consumer acquisition cost reduction Vuse 47% improvement ● ● ******** glo 25% improvement Velo 28% improvement BAT A BETTER TOMORROW Vuse achieved US profitability in H2 2021 A key milestone in our Pathway to Profitability by 2025* % change calculated based on FY21 v FY20. * Reduction in losses at category contribution level. Profitability by 2025 at category contribution level: Profit from the sales of brands after deduction of directly attributable costs (including marketing) and before allocation of overheads. ** Reference to trade margins is to recommended margins based on recommended resale prices. *** Across New Categories. 27

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