Imperial Brands Investor Day Presentation Deck

Imperial NGP starting point Disappointing market performance with primary focus on vapour Vapour: Historic focus almost entirely on vapour Good position in Europe, losing share in the US Product and proposition challenges Poor return on investments However, good brand equity and engagement to build on - - Heated tobacco: Investment to date focused on delivering a limited market trial Oral nicotine: Good position in European modern oral nicotine 57 Capital Markets Day | 27 January 2021 blu IMPERIAL BRANDS ZONEX

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