PitchSend

Altria: CAGNY 2024

The U.S. Nicotine Space Has Remained Stable Nicotine Space Estimated Volume (Volume in Billions of Equivalized Cigarette Packs) Combustible Oral Tobacco ■E-Vapor 15.8 15.5 7 | ALCS | CAGNY | 2.21.24 | For Investor Purposes ONLY 16.0 +1.0% CAGR 16.8 2020 2022 2018 2019 Source: ALCS CMII Estimates; ATCT; STARS; Circana; ALCS Consumer Research; External Sources EQ Estimation For purposes of this theoretical analysis the following are assumed to be equivalent: 1 pack of cigarettes = 1 can of MST/SNUS/OTDN = 10 cigars = 1.5mL e-vapor consumable. Estimated category volume and share are subject to revisions based on the latest available data. 2021 16.1 16.6 2023 Altria

View entire presentation