Investor Presentaiton

Combustibles: Proven track record & ongoing momentum Top-30 SOM 1), % +4.2pp Tobacco AOP ²), % 2018 2019 2020 2021 2022 2022 Average +10.1% 2018 2019 2020 2021 2022 • Competitive and well positioned brand portfolio • Historical delivery on the high-end of Group's target • Ongoing investments in GFB • Maximize pricing opportunities • Best-in-class execution Drive earnings through a diverse geographic footprint • Share of market gains ambition • Mid to high single digit AOP growth ambition © Copyright JT 2023 Note: 1) Based on cigarettes + fine cut in Top-30 markets Tobacco Investor Conference 12 2) Tobacco business AOP variance at constant FX. FY17-21 equal to the sum of international and domestic tobacco businesses for illustration purposes

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