Investor Presentaiton

Reduced-Risk Products ("RRPs") refer to products that present, are likely to present, or have the potential to present less risk of harm to smokers who switch to these products versus continued smoking. We have a range of RRPs in various stages of development, scientific assessment and commercialization. Because our RRPS do not burn tobacco, they produce far lower quantities of harmful and potentially harmful compounds than found in cigarette smoke. REDUCED RISK PRODUCTS RRP 3

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