British American Tobacco Malaysia Bhd. · MYX:BAT
British American Tobacco Malaysia Bhd — H2 2025 Earnings Presentation
13 slides from British American Tobacco Malaysia Bhd's earnings presentation, Feb 12, 2026
Slide 1: H2'25 Analyst Briefing
H2‘25 Analyst Briefing BAT Malaysia 12th February 2026
Slide 2: Disclaimer - External
DISCLAIMER - EXTERNAL COPYRIGHT © 2024 BRITISH AMERICAN TOBACCO EXPORTS LIMITED AND/OR COMMERCIAL MARKETERS AND DISTRIBUTORS SDN BHD (“BAT EXPORTS LTD”). ALL RIGHTS RESERVED. NO PART OF THIS DOCUMENT MAY LIKEWISE, CONSISTENT WITH BAT‘S RESPONSIBLE MARKETING PRINCIPLES, TERMS SUCH AS "CONSUMER", BE R
Slide 3: Disclaimer - External
DISCLAIMER - EXTERNAL COPYRIGHT © 2024 NICOVENTURES TRADING LIMITED AND/OR COMMERCIAL MARKETERS AND DISTRIBUTORS SDN BHD LIKEWISE, CONSISTENT WITH BAT‘S RESPONSIBLE MARKETING PRINCIPLES, TERMS SUCH AS "CONSUMER", (“NVT”). ALL RIGHTS RESERVED. NO PART OF THIS DOCUMENT MAY BE REPRODUCED IN ANY FORM OR
Slide 4: 2025 BATM Strategy
2025 BATM Strategy A Better Tomorrow Building a Switch Smokeless to Better World Quality Sustainable Dynamic Growth Future Business Our Values
Slide 5: Illicit vs Legal
Illicit vs Legal Illicit Incidence trending down Legal Industry Volume (mns) 56.6% 55.6% 594 588 577 567 55.0% 54.4% 2022 2023 2024 2025 2022 2023 2024 2025 Monthly average volumes Source: Nielsen Illegal Cigarettes Study Source: CMTM Industry Exchange Legal volume decrease despite illicit declining
Slide 6: Q4 '25 Business Performance – Highlights
Q4 ‘25 Business Performance – Highlights 54% +2% +32% no changes vs Q4’24 vs. Q4 ’24 vs. Q4 ’24 Illegal Legal Domestic Total Incidence Volume BAT Volume Industry BAT Volumes impacted by regulatory changes (PHW in Oct’ 25 and Excise implementation in Nov’ 25)
Slide 7: 2025 Regulation Updates
2025 Regulation Updates Vapor / Nicotine Retail Display Ban Pictorial Health Warning Excise Increase Concentration Limits Nicotine concentration limit : Open display of tobacco & vape New labelling requirements : Budget 2026 announcement 20mg per mL products banned effective Increase size to 65% 1 O
Slide 8: Portfolio Focus on the 3 Powerhouse brands
Portfolio Focus on the 3 Powerhouse brands PREMIUM ASP. PREMIUM BWAP Grow sustainable value Effective D/T catcher Create Future value CELEBRATING INTENSIFYING VISIBILITY MORE FOCUS ON DUNHILL 60 YEARS SUPPORTED WITH PUG BIGGER BRANDS Full year focus on DH via In-Store & Keeping up with the evolving
Slide 9: Delivering Our Sustainability Agenda
Delivering Our Sustainability Agenda BAT Malaysia Sustainability Strategy -52% Reduction in Scope 1 & 2 Emissions -33% Reduction Generation in Waste 46% Renewable Energy Consumption 98% Waste Recycled FY 2025 Performance 11% Increase Withdrawn in Water 40% Women in management roles AWS Certification
Slide 10: Q4 '25 Financial Performance – Highlights
Q4 ’25 Financial Performance – Highlights SPLY +32% vs Q4 ‘24 +45% +127% vs Q4‘24 vs Q4’24 FMC Volume Revenue Operating Profit Q4 rebound driven by regulatory phasing effective post-October’25 and MPI impact
Slide 11: FY25 Financial Performance – Highlights
FY25 Financial Performance – Highlights FY -5.5% vs FY24 -5.2% +9% vs FY24 vs FY24 BAT Volume Revenue Operating Profit Lower BAT volume due to regulatory changes during the year
Slide 12: Q4'25 Dividend Updates
Q4’25 Dividend Updates Q4‘25 Q4’24 Var Dividend for Board’s Approval Total BAT Volume 1.3 1.0 +31% (bn sticks) 39.0 sen per ordinary share RM111.4mil, payable on 10th Apr 2026 Revenue 948 653 +45% (RM mn) Dividend Yield 14.3%* Operating Profit (RM mn) 174 77 +127% Share Price (RM) Profit after tax (
Slide 13: Building A Better Tomorrow
Building A Better Tomorrow 1 Combustible Value Growth Sustainability 2 Step-Change in New Categories Accelerating Tomorrow’s Leaders 3 A Simpler & Smarter Company
British American Tobacco (Malaysia) Berhad — H2 2025 Earnings Presentation on 6ix