BAT Results Presentation Deck

Combustibles: Well balanced portfolio Driving value growth and strong pricing Premium 36% of Group CPTO* Mid 19% of Group CPTO* VFMA 45% of Group CPTO* DUNHILL TOBACCO OF LONDON LTD LUCKY STRIKE Rothmans OF LONDON 1890 ΚΕΝΤ CAMEL PALL MALL Newport BAT A BETTER TOMORROW NATURAL AMERICAN SPIRIT CIGARETTES Source: Company internal estimates at constant rates. The BAT Group does not own all brands featured in this presentation in all markets, e.g. BAT is the owner of Camel and Natural American Spirit in US only. *Estimated consumer price turnover (CPTO) Combustible Strategic Brands FY 2019. 28

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