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References [i] Report shows that Organised Crime Groups are locating production facilities closer to large end-markets (UK and France stand as two of the Top 3 European Markets by Counterfeit and Contraband volume p.13), KMPG 2023 Report: Illicit cigarette consumption in Europe, p.10, KPMG report - Illicit Cigarette Consumption in Europe - 2023 Results [ii] KMPG 2023 Report: Illicit cigarette consumption in Europe, p.217, KPMG report - Illicit Cigarette Consumption in Europe - 2023 Results [iii]Ibid [iv] KMPG 2023 Report: Illicit cigarette consumption in Europe, p.217, KPMG report - Illicit Cigarette Consumption in Europe - 2023 Results, Total Cigarette Consumption in 2023 was 26.09bn in 2023, of which 6.71 bn cigarettes was illicit (6.71/26.09 = 25.7%, = 25%) [v] 12.9% in 2022 to 11.9% in 2023[v], Office for National Statistics (ONS), released 1 October 2024, ONS website, statistical bulletin, Adult smoking habits in the UK: 2023 [vi] Commissioned by Philip Morris International, KPMG report - Illicit Cigarette Consumption in Europe - 2023 Results [vii] KMPG 2023 Report: Illicit cigarette consumption in Europe, p.217: 2022 (21.2%) versus 2023 (25.7%) (25.7/21.2) 1 = 21.2% [viii] Prevalence of Tobacco Use Among Adults in the WHO European Region, WHO, 2020, Prevalence of tobacco use among adults in the WHO European Region in 2020 [ix] KMPG 2023 Report: Illicit cigarette consumption in Europe, p.217, KPMG report - Illicit Cigarette Consumption in Europe - 2023 Results

"They are still getting younger smokers in developed markets, but not at the rate as the old ones are dying off." Excluding debt, the purchase is about $25 billion based on shares outstanding