scandinavian tobacco group investor relations A/S 2025 Q4 - Results - Earnings Call Presentation (OTCMKTS:STBGY) 2026-03-05 Scandinavian Tobacco Group - Scandinavian

Good for Relaxation Shisha has a very low amount of nicotine that will still help you relax though in a much safer way

The entire studied population was subdivided into three groups: Gutkha and khaini users are the experimental groups which include mainly auto drivers, car mechanics and house builders by using a questionnaire and the control group or non-tobacco users, individuals who do not consume any form of tobacco were enrolled in this study

Forecast model & key assumptions Every forecast includes explicit documentation of: Key growth drivers and their assumed impact Restraining factors and mitigation scenarios Regulatory assumptions and policy change risk Technology adoption curve parameter Macroeconomic assumptions (GDP growth, inflation, currency) Competitive dynamics and market entry/exit expectations 6