Imperial Brands (IMB) investor relations material

Strategic priorities and transformation

• Focus remains on delivering short-term operational and financial performance while transforming for long-term growth, with a reconfirmed double-digit NGP growth target for the full year.

• Transformation is driven by self-help efficiencies (GBP 320 million targeted), technology adoption (including AI), and closer consumer engagement.

• Manufacturing footprint optimization includes factory closures and sales, with GBP 100 million in savings expected by mid-next year.

• Partnership with Capgemini accelerates shared services transformation and digital innovation, with 400 roles already transitioned.

• AI-driven tools are piloted to improve sales force efficiency and customer engagement, delivering 10-15% time savings.

Market performance and portfolio management

• U.S. market share gains in premium segments, with disciplined pricing prioritized over volume share in lower segments; Malibu launched as a base in deep discount.

• Germany shows improved market share through brand investment and sales force expansion, especially in premium and downtrading segments.

• U.K. remains a key profit contributor despite low volume share and high excise; strong position in vaping and modern oral segments.

• Spain is highly affordable with stable performance, driven by selective brand investment and low volume decline.

• Australia faces a shrinking market due to regulation but remains profitable; operating model adapted to indirect distribution and reduced workforce.

Growth markets and revenue drivers

• Africa and Central/Eastern Europe are growing ahead of group average, with strong tobacco and NGP potential.

• Southeast Europe (Italy, Romania, Bulgaria) shows share gains in tobacco and future NGP opportunities.

• Pricing remains a key lever to offset volume declines, especially outside the U.K. and Australia.