BAT Investor Conference Presentation Deck
Building A Better Tomorrow™
We have built a
high growth >£2bn
New Category
business ...
...with the greatest
opportunity to
switch smokers to
reduced risk
products*
2
With strong brands
and proven
capabilities...
...we are confident in
£5bn New Category
revenue &
N
profitability by 2025**
3
BAT
A BETTER TOMORROW
We are committed
to shareholder
returns...
...driven by
financial discipline
& strong cash flow
* Based on the weight of evidence and assuming a complete switch from cigarette smoking. These products are not risk free and are addictive.** New Category Profitability at category contribution level: Profit from the sales of brands
after deduction of directly attributable costs (including marketing) and before allocation of overheads.
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