Philip Morris International Investor Presentation — October 2021

identifying important factors that, individually or in the aggregate, could cause actual results and outcomes to differ materially from those conta ined in any forward-looking

statements made by PMI

•PMI's business risks include: excise tax increases and discriminatory tax structures; increasing marketing and regulatory restrictions that could reduce our competitiveness,

eliminate our ability to communicate with adult consumers, or ban certain of our products in certain markets or countries; health concerns relating t ot h eu s eo ft o b a c c oa n d

other nicotine-containing products and exposure to environmental toba cco smoke; litigation related to tobacco use and intellectual property; int ense competition; the

effects of global and individual country economic, regulatory and politic al developments, natural disasters and conflicts; changes in adult smoke r behavior; lost revenues as

a result of counterfeiting, contraband and cross-border purchases; governmental investigations; unfavorable currency exchange rates and currency devaluations, andlimitations on the ability to repatriate funds; adverse changes in applicable corporate tax laws; adverse changes in the cost, availability, and qua lity of tobacco and other

agricultural products and raw materials, as well as components and materia ls for our electronic devices; and the integrity of its information system s and effectiveness of its

data privacy policies. PMI's future profitability may also be adversely affected should it be unsuccessful in its attempts to produce and commercial ize reduced-risk products

Preview truncated — download the full document for the complete content.

4SC AG