Philip Morris International Investor Presentation — September 2018

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Lausanne, September 27, 2018

Chief Operating Officer2

ADULT CONSUMEROperating Around the Adult Consumer

PMI(a) YTD August, 2018. Excluding China and the U.S. Reflects cigarettes and heated tobacco units

(b) Excluding China and the U.S. Reflects cigarettes and heated tobacco units

Source: PMI Financials or estimates

~7% combustible pricing

International Industry Total

~(2.5)% forecast decline for 2018Superior

Marlboro , L&M, Chesterfield ,

and Philip Morris in global top 10 Market Share Leader(a)

26.8% cigarettes only

28.3% including heated tobacco unitsOur Eye is On the Ball: Robust Cigarette Fundamentals

#1 #4 #7 #10 #12 #15

International Cigarette Market Share (YTD August, 2018)

We Own Six of the World’s T op 15 International Cigarette BrandsOur Strong Cigarette Brand Portfolio

Note: Excluding China and the U.S . Reflects sales volume of PMI cigarettes as a percentage of cigarette industry sales volume

Source: PMI Financials or estimates1.82.12.3

Note: Excluding China and the U.S . Reflects sales volume of PMI cigarettes as a percentage of cigarette industry sales volume

Source: PMI Financials or estimatesSolid Global Cigarette Brand Share of Market

2016 2017 YTD August

2016 2017 YTD August

7(a) Sales volume of PMI cigarettes and HTUs as a percentage of the total industry sales volume for cigarettes and HTUs in the markets where IQOS was available at the end of August 2018

(b) Sales volume of PMI cigarettes as percentage of the total industry sales volume for cigarettes in the markets where IQOS was available at the end of August 2018