BAT Investor Conference Presentation Deck
And strong products are driving improved
conversion rates
BAT's active consumers who have stopped regular smoking¹
glo
Dec 20
Conversion² 44%
In the Top 5 THP markets3
Conversion² 45%
In the Top 5 Vapour markets4
Dec 21
52%
51%
BAT
A BETTER TOMORROW
Category5
53%
41%
Source: Monthly Kantar tracker data. 1 Active Consumers - use New Category product at least once a week. 2 "Converted Smokers" - % of active consumers who do not consume Combustibles. Here, "smokers" are defined as daily combustible
consumers as per standard BAT definition. 3 Top 5 markets THP markets refer to: Japan, Russia, Ukraine, Italy, South Korea. 4 Top 5 Vapour markets refer to: USA, Canada, UK, France and Germany. 5 Category refers to peer conversion scores weighted by
volume across top 5 markets.
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