We are pleased to announce the proposed issue by CIMB Bank of up to 150,000,000 European-style non-collateralised cash-settled call warrants over ordinary shares in BAT.

The BAT-C7 is constituted by the Deed Poll dated 5 May 2020 executed by us, as supplemented from time to time. The BAT-C7 is subject to the terms and conditions of the Base Prospectus dated 14 May 2020, the First Supplementary Base Prospectus dated 24 June 2020, the Second Supplementary Base Prospectus dated 17 July 2020 and the Third Supplementary Base Prospectus dated 20 October 2020 and the Term Sheet for the BAT-C7 dated 26 January 2021.

The BAT-C7 is to be listed on the Structured Warrants Board of Bursa Malaysia Securities Berhad. A summary of the principal terms of the BAT-C7 is set out in the attachment.

This announcement is dated 26 January 2021.