Imperial Brands Investor Day Presentation Deck

Significant future growth potential from modern oral Nordics and Europe comprise half of Modern OND market today c.12% Others c.13% Sweden c.15% Switzerland c.20% Norway c.40% USA Imperial Market Share (%) Strong position in selected markets (i.e. c. 16% in Germany/c.50% in Austria) 9% c.3% 2020 RSV 68 Capital Markets Day | 27 January 2021 c.17% n.a. ● ● IMPERIAL BRANDS Strategy for Modern OND focussed on Europe Continue to drive our OND business in existing Nordics and selective DACH markets Leveraging our traditional OND share in Nordics No current plans for US market entry No ambition to build category in greenfield markets - but maintain watching brief on category development Source: Imperial Internal Estimate (based on RSV)

View entire presentation