BAT Results Presentation Deck

U.S. combustibles industry impacted by continued macro-economic pressures H1'23 drivers of industry volume decline Secular -2.2% -8.4%* Elasticities -1.9% Consumer macro impacts -3.1% Poly-usage** -1.2% Industry volume California Share decline H1'23 flavour ban performance -8.4% -0.6% H1'23 BAT volume and drivers Source: U.S. Marlin * Sales to retail and Company data. ** See Appendix A8. *** Sales to wholesale estimates based on company data. "Adjusted for inventory movements. *** -2.7% BAT A BETTER TOMORROW -11.7% BAT adjusted SAP roll-out volume inventory decline^ H1'23 reduction -0.7% BAT volume decline H1'23 -12.4% 32

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