BAT Results Presentation Deck

CASH: Strong Generation Driving Deleverage Adj. Net Debt / Adj. EBITDA 3.5x 41.7 OPENING NET DEBT 2.6 * On a constant rate basis. See Appendix A1. -0.3x FREE CASH FLOW AFTER DIVS 0.4 OTHER CASH & NON-CASH 3.2x 39.5 CLOSING NET DEBT @ CONSTANT RATES* +0.1x FX BAT 39.5 A BETTER TOMORROW 3.3x CLOSING NET DEBT 29

View entire presentation