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SWOT analysis STRENGTHS Strengths Consumer at the center of all that we do Powerful and inspiring brands Diverse and motivated workforce Accelerating RRP investments Weaknesses Weaknesses Limited geographical RRP presence New capabilities still in the making Opportunities Opportunities Tobacco pricing model still intact enabling us to maximize value creation from combustibles Grow exposure in HTS segment RRP category far from mature Threats Threats Tightening regulatory environment Changing consumer preferences Performance over the last five years The tobacco business outperformed the industry volume over the last five years through continued market share gains driven by our GFB (Global Flagship Brands

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Always follow the manufacturers instructions and recommendations for use, including whether or not it should be left on while unattended

Cost Snapshot Pack Pricing by Source (2025 Averages) Pack vs Carton Math Cigarette pricing makes the most sense when you look at the per-stick cost