BAT Investor Conference Presentation Deck

Beyond Nicotine: Exploring New Opportunities Social Acceptability Beyond "On the Go Wellbeing Nicotine: & Stimulation" New Nicotine Categories Tobacco Less Usage Regain * Indicative assessment - assessment of Social Acceptance will be product specific Additional BAT Global Marketing Reach Clear portfolio expansion boundaries Reduced Health Impact Compared to Cigarettes Leveraging Delivery Platforms NEW CATEGORY GROWTH OPPORTUNITIES Strategic and Financial Attractiveness BAT A BETTER TOMORROW Positive Environmental Contribution Science and Regulatory Expertise 35

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