BAT Investor Conference Presentation Deck

Targeting: Globally Capable, Locally Relevant P vuse 1 2 3 I MAPS MArket Pation System Consumer & Commercial Opportunity Product Satisfaction Index (PSI) Regulatory & Tax/Excise Environment 4 Distribution & Channel Landscape * Across non-combustible products. Source: Kantar & Internal Forecasts N. America & W. Europe Predominantly Vapour VELO Northern Europe Oral Modern Oral Emerging Potential BAT A BETTER TOMORROW glo Central & Eastern Europe Mixed Usage* Japan & SK Predominantly THP 16

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