BAT Investor Conference Presentation Deck

We delivered the Pivotal Year in 2021 Accelerating New Category revenue growth 51% Revenue growth* Reducing New Category losses** c.£100m Reduced losses** BAT De-levered to c. 3x adj. net debt/adj. EBITDA* *** Enabling more active capital allocation Including £2bn Share Buyback in 2022 A BETTER TOMORROW 2.99x Leverage *33*** *Constant rate growth. See Appendix A2. ** Reduction at category contribution level: Profit from the sales of brands after deduction of directly attributable costs (including marketing) and before allocation of overheads. Adjusted net debt to adjusted EBITDA at current rates. See Appendix A1. 10

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