BAT Investor Presentation Deck

17 Belief #4 Modern Oral is a Scandinavian phenomenon FACT MO will have a critical positive role to play as market expansion and the US accelerate growth 0.8 19% 50% 31% 2021 MO Revenue Contribution 1.1 21% 52% 27% 2022 Nordics USA ROW 1.5 22% 53% 25% BAT A BETTER TOMORROW 2023 Est MO Industry Revenue, £bn Source: Kantar Incidence Study 2022, BAT Outlook

View entire presentation