BAT Results Presentation Deck
....and Supported by NC Shift across Demographics BAT
A BETTER TOMORROW
Increased New Category Usage by Age Cohort in Established NC Markets (%)
FMC Solus*>
Dual (FMC/NC)^
NC Solus
.***
Adult nicotine
consumers
Min legal
age-30
30-45
45+
Across Top markets*
15% 16% 22%
85
2019
14%
86
2019
11%
89
2019
84
2020
15%
85
2020
12%
88
2020
78
2021
18%
82
2021
14%
86
2021
27%
73
2022
23%
77
2022
17%
83
2022
NC Established Markets**
NC > 25% of Nic
55%
45
2019
46%
54
2019
28%
72
2019
55% 62% 72%
45
2020
48%
52
2020
28%
72
2020
38
2021
53%
47
2021
68
28
2022
2021
59%
32% 37%
2022
63
2022
c.70% of Adult Nicotine Consumers Under 30
use New Categories in Established Markets
NC Solus
(40%)
FMC Solus
(28%)
Source: KANTAR Incidence Study and Consumer Survey across Top 42 markets at industry level. *Top 42 markets at industry level. ** New Category established markets where New Categories represent >25% of total nicotine consumers at industry level.
Factory Made Cigarette. ^ Dual refers to a transitional period for FMC consumers towards a complete switch to New Category products during which period such FMC consumers reduce cigarette consumption and choose to add to it a consumption of
one or more New Category nicotine products.
*3**
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