BAT Investor Conference Presentation Deck

Vuse has closed a 27 percentage point share gap in just 2 years Competitor 1 vuse Disposables 50.7 (27.2) 23.5 5.1 Jan 20 54.4 (32.1) 22.3 8.8 42.7 (13.6) 29.1 15.9 Dec 20 Value share of total vapour (closed systems) - monthly share to Dec 2021. See Appendix A3 for Value share definition. 36.0 (0.1) 35.9 20.2 Dec 21 BAT A BETTER TOMORROW 7.6ppts Value share growth FY21 V FY20 35

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