BAT Results Presentation Deck

PRICING: Continued strong price/mix* +8.5% › Strong, balanced brand portfolio > Revenue growth management Elasticity & affordability remain robust >80% pricing achieved YTD > Little evidence of accelerated downtrading to date › Strong H1 pricing, benefitting from 2019 rollover › Lapping a strong price/mix comparator in H2 > > Price/mix defined in Appendix A4 Cigarettes Price / Mix 7.0% H119 9.2% BAT A BETTER TOMORROW FY19 8.5% H1'20 39

View entire presentation