Philip Morris International Investor Presentation — September 2020

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Delivering a Smoke -Free Future

Barclays Global Consumer Staples

Chief Financial OfficerForward -Looking and Cautionary Statements

•This presentation and related discussion contain projections offuture results and other forward -looking statements .Achievement offuture

results issubject torisks, uncertainties and inaccurate assumptions .Inthe event that risks or uncertainties materialize, or underlying

assumptions prove inaccurate, actual results could vary materially from those contained insuch forward -looking statements .Pursuant tothe

“safe harbor” provisions ofthe Private Securities Litigation Reform Act of1995, PMI isidentifying important factors that, individually orinthe

aggregate, could cause actual results and outcomes todiffer materially from those contained inany forward -looking statements made byPMI

•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 tocommunicate with adult consumers, orban certain ofour products ;health concerns relating

tothe use oftobacco and other nicotine -containing products and exposure toenvironmental tobacco smoke; litigation related totobacco use ;

intense competition; the effects ofglobal and individual country economic, regulatory and political developments, natural disasters and conflicts ;

changes inadult smoker behavior ;lost revenues as aresult of counterfeiting, contraband and cross -border purchases ;governmental

investigations ;unfavorable currency exchange rates and currency devaluations, and limitations on the ability torepatriate funds ;adverse