BAT Results Presentation Deck

Guiding Strategic Choices & Resource Allocation Through Market Archetypes Market Archetype % of New Categories Contribution to Revenue* (2022) Drivers of Total Nicotine Revenue Growth* (2020-22 CAGR) 1 Combustibles Value Growth & Prepare for NC 2% 2 Drive Combustibles Value & Grow NC 7% 3 Drive NC & Protect Combustibles Value 34% Combustibles Contribution 4 Drive NC & Maximise Value from Combustibles 32% 5 Simplify & Extract Value from Combustibles New Categories Contribution 5% BAT A BETTER TOMORROW 6 Multi-category Growth 17% Dynamic Market Archetype Model Based on the weight of evidence and assuming a complete switch from cigarette smoking. These products are not risk free and are addictive. Our products as sold in the US, including Vuse, Velo, Grizzly, Kodiak, and Camel Snus, are subject to FDA regulation and no reduced-risk claims will be made as to these products without FDA clearance.. * by archetype. 50

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