We are pleased to announce the offering by Affin Hwang IB of up to 100,000,000 non-collateralised European-style cash settled call warrants over ordinary shares of BAT by way of market making.

BAT-C48 is to be listed on the Structured Warrants Board of Bursa Malaysia Securities Berhad.

BAT-C48 is constituted by the Deed Poll dated 22 October 2025. BAT-C48 is subject to the terms and conditions of the Base Prospectus dated 7 November 2025, the First Supplementary Base Prospectus dated 1 December 2025, the Second Supplementary Base Prospectus dated 27 February 2026, the Third Supplementary Base Prospectus dated 17 April 2026 and the Term Sheet for BAT-C48 dated 20 April 2026.

A summary of the principal terms of the BAT-C48 is set out in the attachment.