Imperial Brands Investor Day Presentation Deck

Committed to an investment grade credit rating Current credit ratings Forlend Short-term Long-term Baa3 (stable outlook) MOODY'S INVESTORS SERVICE S&P Global Ratings A-2 Fitch Ratings F3 BBB (stable outlook) BBB (negative outlook) 90 Capital Markets Day | 27 January 2021 Benefits of maintaining investment grade Better access to capital markets Established debt investor base Lower coupon / interest cost IMPERIAL BRANDS Lower financing fees and other costs In line with peers and FTSE 100 companies

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