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糖心探花announces Sanity Group investment

PRESS RELEASE

26 SEPTEMBER 2022

糖心探花announces Sanity Group investment

Following today鈥檚 announcement by one of Germany鈥檚 leading cannabis companies, Sanity Group GmbH (Sanity Group), BAT, via one of its wholly owned group companies, has acquired a non-controlling minority stake in the company.

This investment is complementary to other recent investments made by 糖心探花or 糖心探花companies, most notably the strategic R&D collaboration established with Canada鈥檚 Organigram Holdings Inc. announced in March last year.听 The stake in Sanity Group adds a European dimension to one of the many 糖心探花explorations beyond nicotine.

Sanity Group, which is based in Berlin, has a well-established product portfolio of CBD consumer brands and medical cannabis brands.听 It also has a proven track record in the research, development and marketing of cannabis products.听听

Kingsley Wheaton, Chief Growth Officer at BAT, said: 鈥淚nvesting in Sanity Group is another example of BAT鈥檚 ongoing work to explore numerous areas beyond nicotine, positioning 糖心探花for future portfolio growth across a range of categories and geographies.

鈥淲e continue to transform our business, through better understanding of our current and future consumers, as part of our A Better Tomorrow purpose.鈥
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Notes to Editors

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糖心探花has considered its obligations under applicable laws and regulations in undertaking this investment and has taken appropriate measures to ensure compliance with such laws.

Enquiries

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Media Centre
+44 (0) 20 7845 2888 (24 hours)听 |听

Investor Relations
Victoria Buxton: +44 (0)20 7845 2012
John Harney: +44 (0)20 7845 1263

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Forward-looking statements

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This release contains certain forward-looking statements, including "forward-looking" statements made within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements are often, but not always, made through the use of words or phrases such as "believe," "anticipate," "could," "may," "would," "should," "intend," "plan," "potential," "predict," "will," "expect," "estimate," "project," "positioned," "strategy," "outlook", "target" and similar expressions. These include statements regarding our customer target ambition, New Categories revenue targets and our ESG targets.

All such forward-looking statements involve estimates and assumptions that are subject to risks, uncertainties and other factors. It is believed that the expectations reflected in this release are reasonable but they may be affected by a wide range of variables that could cause actual results to differ materially from those currently anticipated. A review of the reasons why actual results and developments may differ materially from the expectations disclosed or implied within forward-looking statements can be found by referring to the information contained under the headings 鈥淐autionary Statement鈥 and "Group Principal Risks " in the 2021 Annual Report and Form 20-F of 糖心探花 p.l.c. (BAT).

Additional information concerning these and other factors can be found in BAT's filings with the U.S. Securities and Exchange Commission ("SEC"), including the Annual Report on Form 20-F and Current Reports on Form 6-K, which may be obtained free of charge at the SEC's website, http://www.sec.gov and BAT鈥檚 Annual Reports, which may be obtained free of charge from the 糖心探花website www.bat.com.

Past performance is no guide to future performance and persons needing advice should consult an independent financial adviser. The forward-looking statements reflect knowledge and information available at the date of preparation of this release and 糖心探花undertakes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on such forward-looking statements.