Business
Director/PDMR Shareholding
Imperial Brands PLC has granted awards under its Long Term Incentive Plan on February 16, 2026, to executive directors Lukas Paravicini and Murray McGowan. Paravicini, the Chief Executive Officer, received an award of 149,026 ordinary shares, while McGowan, the Chief Financial Officer, was awarded 58,926 ordinary shares. These awards are part of the FY26 LTIP grants and are subject to performance measures including adjusted EPS growth, return on invested capital, cumulative free cash flow, relative TSR, and ESG targets. The performance targets for these measures have been detailed, with cut-in, target, and maximum levels specified for each. Disclaimer*
About this update from Imperial Brands Plc
IMPERIAL BRANDS PLC Legal Entity Identifier (LEI) No. 549300DFVPOB67JL3A42 Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them Imperial Brands PLC (the "Company") Long Term Incentive Plan Grant of 2026 LTIP awards On 16 February 2026, the Company granted awards in respect of FY26 under the Imperial Brands Long Term Incentive Plan (the "LTIP") to PDMRs, details of which are provided below. Further to its 2025 Annual Report and Accounts, the Company confirms that the performance measures and targets (which should not be construed as guidance) in respect of the Imperial Brands LTIP grant made on 16 February 2026 are: Weight Cut-in Target Max Adjusted EPS growth at constant currency¹ 40% 2.0% 4.2% 5.8% Return on invested capital 15% 18.7% 21.4% 22.2% Cumulative free cash flow 15% £5.7bn £6.6bn £7.3bn Relative TSR 20% Median N/A Upper quart. ESG - Climate / Carbon reduction 5% 76.2% 78.3% 79.1% ESG - Climate / Energy reduction 5% 5.5% 10.7% 11.6% 1. EPS targets shown above exclude the benefit of the Company's share buyback programme. This methodology aligns with the Investment Association guidance. Details of individual awards are as follows: 1 Details of the person discharging managerial responsibilities / person closely associated a) Name LUKAS PARAVICINI 2 Reason for the notification a) Position/status EXECUTIVE DIRECTOR - CHIEF EXECUTIVE OFFICER b) Initial notification /Amendment INITIAL NOTIFICATION 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor a) Name IMPERIAL BRANDS PLC b) LEI 549300DFVPOB67JL3A42 4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted a) Description of the financial instrument, type of instrument Identification code ORDINARY SHARES GB0004544929 b) Nature of the transaction AWARD GRANTED UNDER LONG TERM INCENTIVE PLAN c) Price(s) and volume(s) Price(s) Volume(s) NOT APPLICABLE 149,026 d) Aggregated information N/A e) Date of the transaction 16 FEBRUARY 2026 f) Place of the transaction OUTSIDE A TRADING VENUE 1 Details of the person discharging managerial responsibilities / person closely associated a) Name MURRAY MCGOWAN 2 Reason for the notification a) Position/status EXECUTIVE DIRECTOR - CHIEF FINANCIAL OFFICER b) Initial notification /Amendment INITIAL NOTIFICATION 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor a) Name IMPERIAL BRANDS PLC b) LEI 549300DFVPOB67JL3A42 4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted a) Description of the financial instrument, type of instrument Identification code ORDINARY SHARES GB0004544929 b) Nature of the transaction AWARD GRANTED UNDER LONG TERM INCENTIVE PLAN c) Price(s) and volume(s) Price(s) Volume(s) NOT APPLICABLE 58,926 d) Aggregated information N/A e) Date of the transaction 16 FEBRUARY 2026 f) Place of the transaction OUTSIDE A TRADING VENUE Chris Winters Deputy Company Secretary Copies of our announcements are available on our website: https://www.imperialbrandsplc.com/investor-hub/stock-exchange-announcements
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