BAT Investor Conference Presentation Deck

A Large, Growing Harm Reduction Opportunity BAT A BETTER TOMORROW Non- Combustibles*** 13.5mn Consumers*** 17% Revenue & Consumers Share^ MODERN ORAL THP 2020 TRADITIONAL ORAL VAPOUR -79mn Net Consumers** THP MODERN ORAL 2025* ~123m n Net Consumers** TRAD ORAL BAT A BETTER TOMORROW VAPOUR Working for A Better Tomorrow™ for 1.1bn Smokers 2025 estimate based on company data. Industry Incidence Study & BAT internal estimates, excluding India and China **Total Non-Combustibles Net Consumers excludes-Poly users to avoid double- counting. Poly-usage across non-combustible products. *** Non-Combustible consumer definition. See Appendix A2. ^ BAT share of revenue and consumers as a % of 2020 industry estimates 10

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