����̽��

The use of non-GAAP measures, including adjusting items and constant currencies, are further discussed from page 49��of the full announcement, with reconciliation from the most comparable IFRS measure provided.��

Notes

1. Internal estimate, see page 43��of the full announcement, for a discussion on the revision to prior estimates.
2. See page 29 of the full announcement, for discussion on adjusting items.
3. Organic measures exclude the performance of businesses sold (including the Group's Russian and Belarusian businesses) or acquired, or that have an enduring structural change impacting performance that may significantly affect the users' understanding of the Group's performance in the current and comparator periods to ensure like-for-like assessment across all periods.

*������ Due to the uncertainty around the timing of any settlement in Canada, the Group will present certain measures excluding the profit earned from ITCAN (except for New Categories) for 2025, with 2024 comparatives rebased accordingly. Please refer to page 18 of the full announcement.
** measure presented at constant rates only. n/m refers to movements that are not meaningful as prior year was a loss.

Forward looking statements and other matters

This announcement contains certain forward-looking statements, including "forward-looking" statements made within the meaning of the U.S. Private Securities Litigation Reform Act of 1995.

In particular, these forward-looking statements include, among other statements, statements regarding the Group's future financial performance, planned product launches and future regulatory developments and business objectives (including with respect to sustainability and other environmental, social and governance matters), as well as: (i) certain statements in the Chief Executive Statement and Summary (both on page 1 of the full annoucement); (ii) certain statements in the Chief Financial Officer Statement and the 2025 Outlook (both on page 2��of the full annoucement); (iii) certain statements in the Group Operating Review (pages 3 to 6��of the full annoucement) including Cash/capital allocation and Sustainability update; (iv) certain statements in the Category Performance Review (pages 7 to 9��of the full annoucement), including the Vapour, Modern Oral and Beyond Nicotine sections; (v) certain statements in the Regional Review section (pages 10 to 12��of the full annoucement), including the Asia-Pacific, Middle East and Africa (APMEA) section; (vi) certain statements in the Other Financial Information section (pages 13 to 19��of the full annoucement), including Taxation, Borrowings and net debt and Dividends summary; (vii) certain statements in the Other Information section (pages 20 to 21��of the full annoucement), including Update on Quebec class action and CCAA, Risks and uncertainties, Update on investigations, Changes in the Group, Going concern and Additional information; (viii) certain statements in the Notes to the Financial Statements section (pages 29 to 40��of the full annoucement), including Accounting policies and basis of preparation, Amortisation and impairment of trademarks and similar intangibles, Ongoing impairment review of assets, Liquidity, Cash Flow, Earnings per share and Contingent liabilities and financial commitments sections; and (ix) certain statements in the Other Information section (pages 41 to 44��of the full annoucement), including Dividends.

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 intentions, beliefs or current expectations concerning, amongst other things, our results of operations, financial condition, liquidity, prospects, growth, strategies and the economic and business circumstances occurring from time to time in the countries and markets in which the ����̽�� Group (the “Group”) operates.

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 announcement are reasonable, but they may be affected by a wide range of variables that could cause actual results and performance to differ materially from those currently anticipated. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking statements are uncertainties related to the following: the impact of competition from illicit trade; the impact of adverse domestic or international legislation and regulation; the inability to develop, commercialise and deliver the Group’s New Categories strategy; the impact of supply chain disruptions; adverse litigation and dispute outcomes and the effect of such outcomes on the Group’s financial condition; the impact of significant increases or structural changes in tobacco, nicotine and New Categories related taxes; translational and transactional foreign exchange rate exposure; changes or differences in domestic or international economic or political conditions; the ability to maintain credit ratings and to fund the business under the current capital structure; the impact of serious injury, illness or death in the workplace; adverse decisions by domestic or international regulatory bodies; direct and indirect adverse impacts associated with Climate Change; direct and indirect adverse impacts associated with the move towards a Circular Economy; and Cyber Security caused by the heightened cyber-threat landscape, the increased digital interactions with adult consumers and changes to regulation.

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 “Cautionary statement”, "Group Principal Risks" and "Group Risk Factors" in the 2023 Annual Report and Accounts and Form 20-F of ����̽�� 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 Group's 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, www.sec.gov and BAT’s Annual Reports.

No statement in this announcement is intended to be a profit forecast and no statement in this communication should be interpreted to mean that earnings per share of ����̽��for the current or future financial years would necessarily match or exceed the historical published earnings per share of BAT. 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 announcement and ����̽��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.

All financial statements and financial information provided by or with respect to the U.S. or Reynolds American are initially prepared on the basis of U.S. GAAP and constitute the primary financial statements or financial records of the U.S./Reynolds American. This financial information is then converted to International Financial Reporting Standards as issued by the IASB and as adopted for use in the UK (IFRS) for the purpose of consolidation within the results of the Group. To the extent any such financial information provided in this announcement relates to the U.S. or Reynolds American it is provided as an explanation of, or supplement to, Reynolds American’s primary U.S. GAAP based financial statements and information.

Our products as sold in the U.S. including Vuse, Velo, Grizzly, Kodiak and Camel Snus, are subject to FDA regulation and no reduced-risk claims will be made as to these products without Agency clearance.