BAT Results Presentation Deck

Velo continues to drive total oral share growth +70bps Volume share HY23 vs FY22 1.5% 3.6% 6.2% 7.1% 8.1% 1H19 1H20 1H21 1H22 1H23 MO volume share of total oral category in key MO markets *** Modern Oral (MO) revenue up 42%* BAT A BETTER TOMORROW Velo remains clear AME volume share leader** Velo is the largest oral nicotine pouch brand in Sweden^ Unlocking EM opportunities ● Continued growth in Pakistan Increasing consumers and average daily consumption Gross margin fast approaching combustibles National roll-out ahead of plan in Kenya Expanded geo footprint to 29 markets * Revenue growth at constant rates. See Appendix A2. ** Volume share leadership H1'23 based on 4 of Top 5 Modern Oral markets globally, which are in Europe. *** Volume share growth of total oral category in top 5 markets: Sweden - Nielsen IQ, Denmark - Nielsen IQ, Norway - Nielsen IQ, Switzerland - Scan Data (excl. SPAR, Top CC & Alligro), U.S. - Marlin. See Appendix A3. Top 5 represent c.85% of total industry Modern oral revenue. ^ source: Kantar New Category Tracker. 29

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