Imperial Brands Results Presentation Deck

A Clear Five-Year Plan With Two Phases GOOD PROGRESS IMPLEMENTING PHASE ONE OF OUR STRATEGY Strategic focus Net revenue Adjusted operating profit FY21 TO FY22 Phase One-Strengthening Increased investment in operational growth drivers • New ways of working to deliver efficiencies Implement operational excellence improvements FY22 - Flat on FY21 (excluding non-repeat of net £40m US state litigation settlement) with no margin reset necessary 20 Full Year Results | 16 November 2021 FY23 TO FY25 Phase Two - Improving Returns ● ● Gradually improving trajectory with 5-year CAGR of 1-2% ● * ● Investment and operational improvements enhance financial delivery Refine investment to consolidate delivery Leveraging efficiency benefits IMPERIAL BRANDS Improving profit growth 3-year mid-single digit CAGR This outlook is on an organic basis

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