Imperial Brands Investor Day Presentation Deck

US deep dive: attractive market environment with strong Imperial positioning ● ● ● ● Attractive market environment 2nd largest combustibles market High affordability, strong headroom for continued pricing growth Attractive market outlook - pricing continuing to offset volume decline Growing mass market cigars category 31 Capital Markets Day | 27 January 2021 Strong brands Share growth opportunity * Strong Imperial portfolio across all products and price tiers FMC (c.80% OP) Traditional SALEM Premium Traditional Value KOOL Traditional Discount Deep Discount Winston 1. 2. Source: Imperial Internal Estimate 3. USA GOLD MAVERICK SONOMA Montclair #3 player in FMC (9% share¹) IMPERIAL BRANDS MMC (c.20% OP) BACKWOODS SINCE 1912 Dutch Masters #2 player in MMC (21% share²) #1 player in Natural Leaf³ Volume share, 2020 Cigar volume share includes cigarillos, excludes private label and hand-made cigars 45% volume share of mass market natural leaf category

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