BAT Results Presentation Deck

Committed to shareholder returns, with £2bn 2022 buyback Growing Dividend Cash Flow Investing in our Transformation ++ Litigation/ Fiscal/Regulatory outcomes Free Cash Flow* Leverage within 2-3X** Bolt-On M&A Active Capital Allocation Framework BAT A BETTER TOMORROW c.£40bn 5 Year Cumulative Share Buybacks Free Cash Flow *** * Free cash flow before dividends. See Appendix Al and A8. Adjusted net debt to adjusted EBITDA at current rates. See Appendix A1. ***Ambition over the next 5 years. Pre-dividend payments. See Appendix A1 and A8. 31

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