BAT Results Presentation Deck

New Categories are Accelerating We are delivering... Strong momentum in New Categories 33% revenue CAGR last 4 years Losses reduced by c.£600m in 2022* Inflection point in model ● ● and getting fit for growth Strategic review Simplified regional structure New market archetypes c.30 expected market exits ● ● ● >> ▶ ● Increasing investment >£2bn New Category investment 2022 Increased investment expected in 2023 ● BAT A BETTER TOMORROW ● Smarter investment Strategic resource re-allocation Globally developed, locally deployed On Track to Reach New Category Profitability a Year Early * Reduction versus FY21 at constant rates at category contribution level: Profit from operations before the impact of adjusting items and translational foreign exchange, having allocated costs that are directly attributable to New Categories. See Appendix A2. 43

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