Imperial Brands Investor Day Presentation Deck

High historic NGP growth rates although with relatively low penetration Historical NGP category growth Global NGP Market Size (RSV £bn) Open EVP Closed EVP HTP 8.5 1.6 2.7 4.2 2017 NGP penetration 2% +43% 21.0 4.6 15.6 3.7 3.3 8.7 2018 4% 52 Capital Markets Day | 27 January 2021 5.6 10.8 2019 6% 25.0 5.2 5.0 14.8 2020 7% ● ● Mixed category growth ● IMPERIAL BRANDS Whilst high global NGP growth: Historical category penetration has been mixed within Imperial's priority markets • US strongly dominated by closed vapour ● Germany nascent NGP but heated tobacco focus UK skew to open vapour Source: Imperial Internal Estimate (Top 70 EVP/HTP markets, excluding China)

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