BAT Results Presentation Deck

Strong Group Operating Margin expansion 43.0 H1 2021 Adjusted Operating Margin 0.5 Price/mix** and Operational Efficiencies * On an adjusted current rate basis. See Appendix A1. ** See Appendix A4. +90bps 0.9 +90 bps Margin improvement Incremental New Categories (0.5) Transactional FX BAT A BETTER TOMORROW 43.9 H1 2022 Adjusted Operating Margin* 38

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