BAT Investor Presentation Deck

21 Belief #6 New Categories are often a gateway to smoking FACT In general, new adult nicotine consumers don't go on to smoke 2.2% 2021 % Solus Vapour Entrants switching to FMC* Globally ** 2.1% 2022 % Solus Vapour Entrants switching to FMC 2022 % of adult population 2.2% 0.1% 1.8% 0.1% 1.7% 0.04% BAT A BETTER TOMORROW 3.1% 0.05% *Factory Made Cigarettes Source: Kantar Incidence & Track Studies 2022 **Top NC Markets: Canada, Denmark, France, Germany, Italy, Japan, Poland, S. Korea, Sweden, Switzerland, UK - excluding USA

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