Q2 2026 Earnings

Estimated Domestic Cigarette Industry Volume Change

-5.0%

Six Months Ended June 30, 2026 Compared with the Six Months Ended June 30, 2025 Our smokeable products segment’s reported domestic cigarettes shipment volume decreased 2.8%, driven primarily by the industry’s decline rate (impacted by the continued discretionary income pressures on adult nicotine consumers), partially offset by trade inventory movements and retail share gains. When adjusted for trade inventory movements, our smokeable products segment domestic cigarette shipment volume decreased by an estimated 4%. When adjusted for trade inventory movements, total domestic cigarette industry volume decreased by an estimated 5%. Marlboro’s retail share of the premium segment was 59.6%, an increase of 0.1 share point. 50 Table of Contents Total cigarettes industry discount category retail share was 33.6%, an increase of 2.6 share points, due primarily to continued discretionary income pressures on adult nicotine consumers. Three Months Ended June 30, 2026 Compared with the Three Months Ended June 30, 2025 Our smokeable products segment’s reported domestic cigarettes shipment volume decreased 3.2%, driven primarily by the industry’s decline rate (impacted by the continued discretionary income pressures on adult nicotine consumers), partially offset by trade inventory movements and retail share gains. When adjusted for trade inventory movements, our smokeable products segment domestic cigarette shipment volume decreased by an estimated 4.5%. When adjusted for trade inventory movements, total domestic cigarette industry volume decreased by an estimated 5%. Marlboro’s retail share of the premium segment was 59.6%, unchanged versus the prior year and an increase of 0.1 share point sequentially. Total cigarettes industry discount category retail share was 33.8%, an increase of 2.6 share points versus the prior year and 0.5 share points sequentially, due primarily to continued discretionary income pressures on adult nicotine consumers.

Copenhagen Retail Share

13.1%

The following table summarizes our oral tobacco products segment’s retail share performance: Retail Share For the Six Months Ended June 30, | For the Three Months Ended June 30, 2026 | 2025 | Percentage Point Change | 2026 | 2025 | Percentage Point Change Copenhagen | 13.4 | % | 16.4 | % | (3.0) | 13.1 | % | 15.9 | % | (2.8) Skoal | 5.2 | 6.3 | (1.1) | 5.1 | 6.1 | (1.0) on! | 8.2 | 8.5 | (0.3) | 8.6 | 8.3 | 0.3 Other | 2.2 | 2.3 | (0.1) | 2.2 | 2.4 | (0.2) Total oral tobacco products | 29.0 | % | 33.5 | % | (4.5) | 29.0 | % | 32.7 | % | (3.7) Note: Our oral tobacco products segment’s retail share results exclude non-domestic volume, which is currently not material to our oral tobacco products segment. Retail share results for oral tobacco products are based on data from Circana, a tracking service that uses a sample of stores to project market share and depict share trends. This service tracks sales in the food, drug, mass merchandisers, convenience, military, dollar store and club trade classes on the number of cans sold. Oral tobacco products are defined by Circana as domestic oral products, in the form of MST and all oral nicotine pouch products (inclusive of tobacco-derived and synthetic oral nicotine products). New types of oral tobacco products, as well as new packaging configurations of existing oral tobacco products, may or may not be equivalent to existing MST products on a can-for-can basis. For example, one can of oral nicotine pouches, irrespective of the number of pouches in the can, is assumed to be equivalent to one can of MST. Because this service represents retail share performance only in key trade channels, it should not be considered a precise measurement of actual retail share. It is the standard practice of retail services to periodically refresh their retail scan services, which could restate retail share results that were previously released in these services.

Discount Cigarette Retail Share

3.9%

The following table summarizes our domestic cigarettes retail share performance: Retail Share For the Six Months Ended June 30, | For the Three Months Ended June 30, 2026 | 2025 | Percentage Point Change | 2026 | 2025 | Percentage Point Change Cigarettes: Marlboro | 39.6 | % | 41.0 | % | (1.4) | 39.5 | % | 41.0 | % | (1.5) Other premium | 2.1 | 2.2 | (0.1) | 2.1 | 2.2 | (0.1) Discount | 3.8 | 1.9 | 1.9 | 3.9 | 2.0 | 1.9 Total cigarettes | 45.5 | % | 45.1 | % | 0.4 | 45.5 | % | 45.2 | % | 0.3 Note: Retail share results for cigarettes are based on data from Circana, LLC (“Circana”), as well as Management Science Associates, Inc. (“MSAi”). Circana maintains a blended retail service that uses a sample of stores and certain wholesale shipments to project market share and depict share trends. This service tracks sales in the food, drug, mass merchandisers, convenience, military, dollar store and club trade classes. For other trade classes selling cigarettes, retail share is based on shipments from wholesalers to retailers through the Store Tracking Analytical Reporting System, as provided by MSAi. This service is not designed to capture sales through other channels, including the internet, direct mail and some tax-advantaged outlets. It is the standard practice of retail services to periodically refresh their retail scan services, which could restate retail share results that were previously released in these services.

Marlboro Premium Segment Retail Share

59.6%

Six Months Ended June 30, 2026 Compared with the Six Months Ended June 30, 2025 Our smokeable products segment’s reported domestic cigarettes shipment volume decreased 2.8%, driven primarily by the industry’s decline rate (impacted by the continued discretionary income pressures on adult nicotine consumers), partially offset by trade inventory movements and retail share gains. When adjusted for trade inventory movements, our smokeable products segment domestic cigarette shipment volume decreased by an estimated 4%. When adjusted for trade inventory movements, total domestic cigarette industry volume decreased by an estimated 5%. Marlboro’s retail share of the premium segment was 59.6%, an increase of 0.1 share point. 50 Table of Contents Total cigarettes industry discount category retail share was 33.6%, an increase of 2.6 share points, due primarily to continued discretionary income pressures on adult nicotine consumers. Three Months Ended June 30, 2026 Compared with the Three Months Ended June 30, 2025 Our smokeable products segment’s reported domestic cigarettes shipment volume decreased 3.2%, driven primarily by the industry’s decline rate (impacted by the continued discretionary income pressures on adult nicotine consumers), partially offset by trade inventory movements and retail share gains. When adjusted for trade inventory movements, our smokeable products segment domestic cigarette shipment volume decreased by an estimated 4.5%. When adjusted for trade inventory movements, total domestic cigarette industry volume decreased by an estimated 5%. Marlboro’s retail share of the premium segment was 59.6%, unchanged versus the prior year and an increase of 0.1 share point sequentially. Total cigarettes industry discount category retail share was 33.8%, an increase of 2.6 share points versus the prior year and 0.5 share points sequentially, due primarily to continued discretionary income pressures on adult nicotine consumers.

Marlboro Retail Share

39.5%

The following table summarizes our domestic cigarettes retail share performance: Retail Share For the Six Months Ended June 30, | For the Three Months Ended June 30, 2026 | 2025 | Percentage Point Change | 2026 | 2025 | Percentage Point Change Cigarettes: Marlboro | 39.6 | % | 41.0 | % | (1.4) | 39.5 | % | 41.0 | % | (1.5) Other premium | 2.1 | 2.2 | (0.1) | 2.1 | 2.2 | (0.1) Discount | 3.8 | 1.9 | 1.9 | 3.9 | 2.0 | 1.9 Total cigarettes | 45.5 | % | 45.1 | % | 0.4 | 45.5 | % | 45.2 | % | 0.3 Note: Retail share results for cigarettes are based on data from Circana, LLC (“Circana”), as well as Management Science Associates, Inc. (“MSAi”). Circana maintains a blended retail service that uses a sample of stores and certain wholesale shipments to project market share and depict share trends. This service tracks sales in the food, drug, mass merchandisers, convenience, military, dollar store and club trade classes. For other trade classes selling cigarettes, retail share is based on shipments from wholesalers to retailers through the Store Tracking Analytical Reporting System, as provided by MSAi. This service is not designed to capture sales through other channels, including the internet, direct mail and some tax-advantaged outlets. It is the standard practice of retail services to periodically refresh their retail scan services, which could restate retail share results that were previously released in these services.

Other Oral Tobacco Retail Share

2.2%

The following table summarizes our oral tobacco products segment’s retail share performance: Retail Share For the Six Months Ended June 30, | For the Three Months Ended June 30, 2026 | 2025 | Percentage Point Change | 2026 | 2025 | Percentage Point Change Copenhagen | 13.4 | % | 16.4 | % | (3.0) | 13.1 | % | 15.9 | % | (2.8) Skoal | 5.2 | 6.3 | (1.1) | 5.1 | 6.1 | (1.0) on! | 8.2 | 8.5 | (0.3) | 8.6 | 8.3 | 0.3 Other | 2.2 | 2.3 | (0.1) | 2.2 | 2.4 | (0.2) Total oral tobacco products | 29.0 | % | 33.5 | % | (4.5) | 29.0 | % | 32.7 | % | (3.7) Note: Our oral tobacco products segment’s retail share results exclude non-domestic volume, which is currently not material to our oral tobacco products segment. Retail share results for oral tobacco products are based on data from Circana, a tracking service that uses a sample of stores to project market share and depict share trends. This service tracks sales in the food, drug, mass merchandisers, convenience, military, dollar store and club trade classes on the number of cans sold. Oral tobacco products are defined by Circana as domestic oral products, in the form of MST and all oral nicotine pouch products (inclusive of tobacco-derived and synthetic oral nicotine products). New types of oral tobacco products, as well as new packaging configurations of existing oral tobacco products, may or may not be equivalent to existing MST products on a can-for-can basis. For example, one can of oral nicotine pouches, irrespective of the number of pouches in the can, is assumed to be equivalent to one can of MST. Because this service represents retail share performance only in key trade channels, it should not be considered a precise measurement of actual retail share. It is the standard practice of retail services to periodically refresh their retail scan services, which could restate retail share results that were previously released in these services.

Other Premium Cigarette Retail Share

2.1%

The following table summarizes our domestic cigarettes retail share performance: Retail Share For the Six Months Ended June 30, | For the Three Months Ended June 30, 2026 | 2025 | Percentage Point Change | 2026 | 2025 | Percentage Point Change Cigarettes: Marlboro | 39.6 | % | 41.0 | % | (1.4) | 39.5 | % | 41.0 | % | (1.5) Other premium | 2.1 | 2.2 | (0.1) | 2.1 | 2.2 | (0.1) Discount | 3.8 | 1.9 | 1.9 | 3.9 | 2.0 | 1.9 Total cigarettes | 45.5 | % | 45.1 | % | 0.4 | 45.5 | % | 45.2 | % | 0.3 Note: Retail share results for cigarettes are based on data from Circana, LLC (“Circana”), as well as Management Science Associates, Inc. (“MSAi”). Circana maintains a blended retail service that uses a sample of stores and certain wholesale shipments to project market share and depict share trends. This service tracks sales in the food, drug, mass merchandisers, convenience, military, dollar store and club trade classes. For other trade classes selling cigarettes, retail share is based on shipments from wholesalers to retailers through the Store Tracking Analytical Reporting System, as provided by MSAi. This service is not designed to capture sales through other channels, including the internet, direct mail and some tax-advantaged outlets. It is the standard practice of retail services to periodically refresh their retail scan services, which could restate retail share results that were previously released in these services.

Skoal Retail Share

5.1%

The following table summarizes our oral tobacco products segment’s retail share performance: Retail Share For the Six Months Ended June 30, | For the Three Months Ended June 30, 2026 | 2025 | Percentage Point Change | 2026 | 2025 | Percentage Point Change Copenhagen | 13.4 | % | 16.4 | % | (3.0) | 13.1 | % | 15.9 | % | (2.8) Skoal | 5.2 | 6.3 | (1.1) | 5.1 | 6.1 | (1.0) on! | 8.2 | 8.5 | (0.3) | 8.6 | 8.3 | 0.3 Other | 2.2 | 2.3 | (0.1) | 2.2 | 2.4 | (0.2) Total oral tobacco products | 29.0 | % | 33.5 | % | (4.5) | 29.0 | % | 32.7 | % | (3.7) Note: Our oral tobacco products segment’s retail share results exclude non-domestic volume, which is currently not material to our oral tobacco products segment. Retail share results for oral tobacco products are based on data from Circana, a tracking service that uses a sample of stores to project market share and depict share trends. This service tracks sales in the food, drug, mass merchandisers, convenience, military, dollar store and club trade classes on the number of cans sold. Oral tobacco products are defined by Circana as domestic oral products, in the form of MST and all oral nicotine pouch products (inclusive of tobacco-derived and synthetic oral nicotine products). New types of oral tobacco products, as well as new packaging configurations of existing oral tobacco products, may or may not be equivalent to existing MST products on a can-for-can basis. For example, one can of oral nicotine pouches, irrespective of the number of pouches in the can, is assumed to be equivalent to one can of MST. Because this service represents retail share performance only in key trade channels, it should not be considered a precise measurement of actual retail share. It is the standard practice of retail services to periodically refresh their retail scan services, which could restate retail share results that were previously released in these services.

Total Cigarette Retail Share

45.5%

The following table summarizes our domestic cigarettes retail share performance: Retail Share For the Six Months Ended June 30, | For the Three Months Ended June 30, 2026 | 2025 | Percentage Point Change | 2026 | 2025 | Percentage Point Change Cigarettes: Marlboro | 39.6 | % | 41.0 | % | (1.4) | 39.5 | % | 41.0 | % | (1.5) Other premium | 2.1 | 2.2 | (0.1) | 2.1 | 2.2 | (0.1) Discount | 3.8 | 1.9 | 1.9 | 3.9 | 2.0 | 1.9 Total cigarettes | 45.5 | % | 45.1 | % | 0.4 | 45.5 | % | 45.2 | % | 0.3 Note: Retail share results for cigarettes are based on data from Circana, LLC (“Circana”), as well as Management Science Associates, Inc. (“MSAi”). Circana maintains a blended retail service that uses a sample of stores and certain wholesale shipments to project market share and depict share trends. This service tracks sales in the food, drug, mass merchandisers, convenience, military, dollar store and club trade classes. For other trade classes selling cigarettes, retail share is based on shipments from wholesalers to retailers through the Store Tracking Analytical Reporting System, as provided by MSAi. This service is not designed to capture sales through other channels, including the internet, direct mail and some tax-advantaged outlets. It is the standard practice of retail services to periodically refresh their retail scan services, which could restate retail share results that were previously released in these services.

Total Oral Tobacco Products Retail Share

29.0%

The following table summarizes our oral tobacco products segment’s retail share performance: Retail Share For the Six Months Ended June 30, | For the Three Months Ended June 30, 2026 | 2025 | Percentage Point Change | 2026 | 2025 | Percentage Point Change Copenhagen | 13.4 | % | 16.4 | % | (3.0) | 13.1 | % | 15.9 | % | (2.8) Skoal | 5.2 | 6.3 | (1.1) | 5.1 | 6.1 | (1.0) on! | 8.2 | 8.5 | (0.3) | 8.6 | 8.3 | 0.3 Other | 2.2 | 2.3 | (0.1) | 2.2 | 2.4 | (0.2) Total oral tobacco products | 29.0 | % | 33.5 | % | (4.5) | 29.0 | % | 32.7 | % | (3.7) Note: Our oral tobacco products segment’s retail share results exclude non-domestic volume, which is currently not material to our oral tobacco products segment. Retail share results for oral tobacco products are based on data from Circana, a tracking service that uses a sample of stores to project market share and depict share trends. This service tracks sales in the food, drug, mass merchandisers, convenience, military, dollar store and club trade classes on the number of cans sold. Oral tobacco products are defined by Circana as domestic oral products, in the form of MST and all oral nicotine pouch products (inclusive of tobacco-derived and synthetic oral nicotine products). New types of oral tobacco products, as well as new packaging configurations of existing oral tobacco products, may or may not be equivalent to existing MST products on a can-for-can basis. For example, one can of oral nicotine pouches, irrespective of the number of pouches in the can, is assumed to be equivalent to one can of MST. Because this service represents retail share performance only in key trade channels, it should not be considered a precise measurement of actual retail share. It is the standard practice of retail services to periodically refresh their retail scan services, which could restate retail share results that were previously released in these services.

on! Nicotine Pouch Category Share

14.4%

Six Months Ended June 30, 2026 Compared with Six Months Ended June 30, 2025 Our oral tobacco products segment’s reported domestic shipment volume decreased 6.0%, driven primarily by retail share losses, partially offset by the industry’s growth rate and other factors. When adjusted for trade inventory movements, our oral tobacco products segment’s reported domestic shipment volume decreased by an estimated 5.5%. Total oral tobacco products category industry volume increased by an estimated 6% over the six months ended June 30, 2026, driven primarily by growth in oral nicotine pouches, partially offset by declines in MST volumes. Our oral tobacco products segment’s retail share was 29.0%, a decrease of 4.5 share points due primarily to share declines for MST products. The U.S. nicotine pouch category grew to 59.0% of the U.S. oral tobacco category, an increase of 8.6 share points. on!’s share of the nicotine pouch category was 13.9%, a decrease of 2.9 share points. Three Months Ended June 30, 2026 Compared with Three Months Ended June 30, 2025 Our oral tobacco products segment’s reported domestic shipment volume decreased 8.5%, driven primarily by retail share losses and trade inventory movements, partially offset by the industry’s growth rate and other factors. When adjusted for trade inventory movements, our oral tobacco products segment’s reported domestic shipment volume decreased by an estimated 2%. Our oral tobacco products segment’s retail share was 29.0%, a decrease of 3.7 share points versus the prior year due primarily to share declines for MST products, and unchanged sequentially. Total U.S. oral tobacco category share for on! nicotine pouches was 8.6%, an increase of 0.3 share points versus the prior year and 0.8 share points sequentially. The U.S. nicotine pouch category grew to 59.9% of the U.S. oral tobacco category, an increase of 8.1 share points versus the prior year and 1.8 share points sequentially. on!’s share of the nicotine pouch category was 14.4%, a decrease of 1.7 share points versus the prior year and an increase of 1.0 share point sequentially.

on! Oral Tobacco Category Retail Share

8.6%

The following table summarizes our oral tobacco products segment’s retail share performance: Retail Share For the Six Months Ended June 30, | For the Three Months Ended June 30, 2026 | 2025 | Percentage Point Change | 2026 | 2025 | Percentage Point Change Copenhagen | 13.4 | % | 16.4 | % | (3.0) | 13.1 | % | 15.9 | % | (2.8) Skoal | 5.2 | 6.3 | (1.1) | 5.1 | 6.1 | (1.0) on! | 8.2 | 8.5 | (0.3) | 8.6 | 8.3 | 0.3 Other | 2.2 | 2.3 | (0.1) | 2.2 | 2.4 | (0.2) Total oral tobacco products | 29.0 | % | 33.5 | % | (4.5) | 29.0 | % | 32.7 | % | (3.7) Note: Our oral tobacco products segment’s retail share results exclude non-domestic volume, which is currently not material to our oral tobacco products segment. Retail share results for oral tobacco products are based on data from Circana, a tracking service that uses a sample of stores to project market share and depict share trends. This service tracks sales in the food, drug, mass merchandisers, convenience, military, dollar store and club trade classes on the number of cans sold. Oral tobacco products are defined by Circana as domestic oral products, in the form of MST and all oral nicotine pouch products (inclusive of tobacco-derived and synthetic oral nicotine products). New types of oral tobacco products, as well as new packaging configurations of existing oral tobacco products, may or may not be equivalent to existing MST products on a can-for-can basis. For example, one can of oral nicotine pouches, irrespective of the number of pouches in the can, is assumed to be equivalent to one can of MST. Because this service represents retail share performance only in key trade channels, it should not be considered a precise measurement of actual retail share. It is the standard practice of retail services to periodically refresh their retail scan services, which could restate retail share results that were previously released in these services.

Black & Mild Shipment Volume

503.0M

Shipment Volume and Retail Share Results The following table summarizes our smokeable products segment’s shipment volume performance: Shipment Volume For the Six Months Ended June 30, | For the Three Months Ended June 30, (sticks in millions) | 2026 | 2025 | Change | 2026 | 2025 | Change Cigarettes: Marlboro | 25,349 | 27,436 | (7.6) | % | 13,389 | 14,458 | (7.4) | % Other premium | 1,279 | 1,397 | (8.4) | % | 678 | 719 | (5.7) | % Discount | 2,793 | 1,437 | 94.4 | % | 1,487 | 889 | 67.3 | % Total domestic cigarettes (1) | 29,421 | 30,270 | (2.8) | % | 15,554 | 16,066 | (3.2) | % Cigars: Black & Mild | 906 | 883 | 2.6 | % | 503 | 478 | 5.2 | % Other | 1 | 1 | — | % | — | 1 | (100.0) | % Total cigars | 907 | 884 | 2.6 | % | 503 | 479 | 5.0 | % Total domestic smokeable products | 30,328 | 31,154 | (2.7) | % | 16,057 | 16,545 | (2.9) | % Contract manufactured export cigarettes (2) | 1,346 | 475 | 100%+ | 736 | 475 | 54.9 | % (1) Domestic cigarettes shipment volume includes Marlboro; Other premium brands, such as Virginia Slims and Parliament; and Discount brands, which include L&M and Basic. Domestic cigarettes volume includes units sold as well as promotional units sold for distribution in the U.S. and excludes units sold for distribution to Puerto Rico, U.S. Territories to overseas military and by Philip Morris Duty Free Inc., none of which, individually or in the aggregate, is material to our smokeable products segment. (2) Contract manufactured export cigarettes shipment volume represents contract manufactured cigarettes for third parties that market and sell tobacco products outside the U.S.

Contract-Manufactured Export Cigarette Volume

736.0M

Shipment Volume and Retail Share Results The following table summarizes our smokeable products segment’s shipment volume performance: Shipment Volume For the Six Months Ended June 30, | For the Three Months Ended June 30, (sticks in millions) | 2026 | 2025 | Change | 2026 | 2025 | Change Cigarettes: Marlboro | 25,349 | 27,436 | (7.6) | % | 13,389 | 14,458 | (7.4) | % Other premium | 1,279 | 1,397 | (8.4) | % | 678 | 719 | (5.7) | % Discount | 2,793 | 1,437 | 94.4 | % | 1,487 | 889 | 67.3 | % Total domestic cigarettes (1) | 29,421 | 30,270 | (2.8) | % | 15,554 | 16,066 | (3.2) | % Cigars: Black & Mild | 906 | 883 | 2.6 | % | 503 | 478 | 5.2 | % Other | 1 | 1 | — | % | — | 1 | (100.0) | % Total cigars | 907 | 884 | 2.6 | % | 503 | 479 | 5.0 | % Total domestic smokeable products | 30,328 | 31,154 | (2.7) | % | 16,057 | 16,545 | (2.9) | % Contract manufactured export cigarettes (2) | 1,346 | 475 | 100%+ | 736 | 475 | 54.9 | % (1) Domestic cigarettes shipment volume includes Marlboro; Other premium brands, such as Virginia Slims and Parliament; and Discount brands, which include L&M and Basic. Domestic cigarettes volume includes units sold as well as promotional units sold for distribution in the U.S. and excludes units sold for distribution to Puerto Rico, U.S. Territories to overseas military and by Philip Morris Duty Free Inc., none of which, individually or in the aggregate, is material to our smokeable products segment. (2) Contract manufactured export cigarettes shipment volume represents contract manufactured cigarettes for third parties that market and sell tobacco products outside the U.S.

Copenhagen Shipment Volume

85.4M

Shipment Volume and Retail Share Results The following table summarizes our oral tobacco products segment’s shipment volume performance: Shipment Volume For the Six Months Ended June 30, | For the Three Months Ended June 30, (cans in millions) | 2026 | 2025 | Change | 2026 | 2025 | Change Copenhagen | 165.8 | 185.6 | (10.7) | % | 85.4 | 95.9 | (10.9) | % Skoal | 57.4 | 65.6 | (12.5) | % | 29.5 | 34.2 | (13.7) | % on! | 96.1 | 91.4 | 5.1 | % | 49.9 | 52.1 | (4.2) | % Other | 32.3 | 31.4 | 2.9 | % | 16.9 | 16.4 | 3.0 | % Total oral tobacco products | 351.6 | 374.0 | (6.0) | % | 181.7 | 198.6 | (8.5) | % Note: Other primarily includes Red Seal and Husky. Oral tobacco products shipment volume includes cans sold, as well as promotional units, but excludes non-domestic volume, which is currently not material to our oral tobacco products segment. New types of oral tobacco products, as well as new packaging configurations of existing oral tobacco products, may or may not be equivalent to existing MST products on a can-for-can basis. To calculate volumes of cans shipped, one can of oral nicotine pouches, irrespective of the number of pouches in the can, is assumed to be equivalent to one can of MST.

Discount Cigarette Shipment Volume

1.49B

Shipment Volume and Retail Share Results The following table summarizes our smokeable products segment’s shipment volume performance: Shipment Volume For the Six Months Ended June 30, | For the Three Months Ended June 30, (sticks in millions) | 2026 | 2025 | Change | 2026 | 2025 | Change Cigarettes: Marlboro | 25,349 | 27,436 | (7.6) | % | 13,389 | 14,458 | (7.4) | % Other premium | 1,279 | 1,397 | (8.4) | % | 678 | 719 | (5.7) | % Discount | 2,793 | 1,437 | 94.4 | % | 1,487 | 889 | 67.3 | % Total domestic cigarettes (1) | 29,421 | 30,270 | (2.8) | % | 15,554 | 16,066 | (3.2) | % Cigars: Black & Mild | 906 | 883 | 2.6 | % | 503 | 478 | 5.2 | % Other | 1 | 1 | — | % | — | 1 | (100.0) | % Total cigars | 907 | 884 | 2.6 | % | 503 | 479 | 5.0 | % Total domestic smokeable products | 30,328 | 31,154 | (2.7) | % | 16,057 | 16,545 | (2.9) | % Contract manufactured export cigarettes (2) | 1,346 | 475 | 100%+ | 736 | 475 | 54.9 | % (1) Domestic cigarettes shipment volume includes Marlboro; Other premium brands, such as Virginia Slims and Parliament; and Discount brands, which include L&M and Basic. Domestic cigarettes volume includes units sold as well as promotional units sold for distribution in the U.S. and excludes units sold for distribution to Puerto Rico, U.S. Territories to overseas military and by Philip Morris Duty Free Inc., none of which, individually or in the aggregate, is material to our smokeable products segment. (2) Contract manufactured export cigarettes shipment volume represents contract manufactured cigarettes for third parties that market and sell tobacco products outside the U.S.

Marlboro Shipment Volume

13.39B

Shipment Volume and Retail Share Results The following table summarizes our smokeable products segment’s shipment volume performance: Shipment Volume For the Six Months Ended June 30, | For the Three Months Ended June 30, (sticks in millions) | 2026 | 2025 | Change | 2026 | 2025 | Change Cigarettes: Marlboro | 25,349 | 27,436 | (7.6) | % | 13,389 | 14,458 | (7.4) | % Other premium | 1,279 | 1,397 | (8.4) | % | 678 | 719 | (5.7) | % Discount | 2,793 | 1,437 | 94.4 | % | 1,487 | 889 | 67.3 | % Total domestic cigarettes (1) | 29,421 | 30,270 | (2.8) | % | 15,554 | 16,066 | (3.2) | % Cigars: Black & Mild | 906 | 883 | 2.6 | % | 503 | 478 | 5.2 | % Other | 1 | 1 | — | % | — | 1 | (100.0) | % Total cigars | 907 | 884 | 2.6 | % | 503 | 479 | 5.0 | % Total domestic smokeable products | 30,328 | 31,154 | (2.7) | % | 16,057 | 16,545 | (2.9) | % Contract manufactured export cigarettes (2) | 1,346 | 475 | 100%+ | 736 | 475 | 54.9 | % (1) Domestic cigarettes shipment volume includes Marlboro; Other premium brands, such as Virginia Slims and Parliament; and Discount brands, which include L&M and Basic. Domestic cigarettes volume includes units sold as well as promotional units sold for distribution in the U.S. and excludes units sold for distribution to Puerto Rico, U.S. Territories to overseas military and by Philip Morris Duty Free Inc., none of which, individually or in the aggregate, is material to our smokeable products segment. (2) Contract manufactured export cigarettes shipment volume represents contract manufactured cigarettes for third parties that market and sell tobacco products outside the U.S.

Other Oral Tobacco Shipment Volume

16.9M

Shipment Volume and Retail Share Results The following table summarizes our oral tobacco products segment’s shipment volume performance: Shipment Volume For the Six Months Ended June 30, | For the Three Months Ended June 30, (cans in millions) | 2026 | 2025 | Change | 2026 | 2025 | Change Copenhagen | 165.8 | 185.6 | (10.7) | % | 85.4 | 95.9 | (10.9) | % Skoal | 57.4 | 65.6 | (12.5) | % | 29.5 | 34.2 | (13.7) | % on! | 96.1 | 91.4 | 5.1 | % | 49.9 | 52.1 | (4.2) | % Other | 32.3 | 31.4 | 2.9 | % | 16.9 | 16.4 | 3.0 | % Total oral tobacco products | 351.6 | 374.0 | (6.0) | % | 181.7 | 198.6 | (8.5) | % Note: Other primarily includes Red Seal and Husky. Oral tobacco products shipment volume includes cans sold, as well as promotional units, but excludes non-domestic volume, which is currently not material to our oral tobacco products segment. New types of oral tobacco products, as well as new packaging configurations of existing oral tobacco products, may or may not be equivalent to existing MST products on a can-for-can basis. To calculate volumes of cans shipped, one can of oral nicotine pouches, irrespective of the number of pouches in the can, is assumed to be equivalent to one can of MST.

Other Premium Cigarette Shipment Volume

678.0M

Shipment Volume and Retail Share Results The following table summarizes our smokeable products segment’s shipment volume performance: Shipment Volume For the Six Months Ended June 30, | For the Three Months Ended June 30, (sticks in millions) | 2026 | 2025 | Change | 2026 | 2025 | Change Cigarettes: Marlboro | 25,349 | 27,436 | (7.6) | % | 13,389 | 14,458 | (7.4) | % Other premium | 1,279 | 1,397 | (8.4) | % | 678 | 719 | (5.7) | % Discount | 2,793 | 1,437 | 94.4 | % | 1,487 | 889 | 67.3 | % Total domestic cigarettes (1) | 29,421 | 30,270 | (2.8) | % | 15,554 | 16,066 | (3.2) | % Cigars: Black & Mild | 906 | 883 | 2.6 | % | 503 | 478 | 5.2 | % Other | 1 | 1 | — | % | — | 1 | (100.0) | % Total cigars | 907 | 884 | 2.6 | % | 503 | 479 | 5.0 | % Total domestic smokeable products | 30,328 | 31,154 | (2.7) | % | 16,057 | 16,545 | (2.9) | % Contract manufactured export cigarettes (2) | 1,346 | 475 | 100%+ | 736 | 475 | 54.9 | % (1) Domestic cigarettes shipment volume includes Marlboro; Other premium brands, such as Virginia Slims and Parliament; and Discount brands, which include L&M and Basic. Domestic cigarettes volume includes units sold as well as promotional units sold for distribution in the U.S. and excludes units sold for distribution to Puerto Rico, U.S. Territories to overseas military and by Philip Morris Duty Free Inc., none of which, individually or in the aggregate, is material to our smokeable products segment. (2) Contract manufactured export cigarettes shipment volume represents contract manufactured cigarettes for third parties that market and sell tobacco products outside the U.S.

Skoal Shipment Volume

29.5M

Shipment Volume and Retail Share Results The following table summarizes our oral tobacco products segment’s shipment volume performance: Shipment Volume For the Six Months Ended June 30, | For the Three Months Ended June 30, (cans in millions) | 2026 | 2025 | Change | 2026 | 2025 | Change Copenhagen | 165.8 | 185.6 | (10.7) | % | 85.4 | 95.9 | (10.9) | % Skoal | 57.4 | 65.6 | (12.5) | % | 29.5 | 34.2 | (13.7) | % on! | 96.1 | 91.4 | 5.1 | % | 49.9 | 52.1 | (4.2) | % Other | 32.3 | 31.4 | 2.9 | % | 16.9 | 16.4 | 3.0 | % Total oral tobacco products | 351.6 | 374.0 | (6.0) | % | 181.7 | 198.6 | (8.5) | % Note: Other primarily includes Red Seal and Husky. Oral tobacco products shipment volume includes cans sold, as well as promotional units, but excludes non-domestic volume, which is currently not material to our oral tobacco products segment. New types of oral tobacco products, as well as new packaging configurations of existing oral tobacco products, may or may not be equivalent to existing MST products on a can-for-can basis. To calculate volumes of cans shipped, one can of oral nicotine pouches, irrespective of the number of pouches in the can, is assumed to be equivalent to one can of MST.

Total Cigar Shipment Volume

503.0M

Shipment Volume and Retail Share Results The following table summarizes our smokeable products segment’s shipment volume performance: Shipment Volume For the Six Months Ended June 30, | For the Three Months Ended June 30, (sticks in millions) | 2026 | 2025 | Change | 2026 | 2025 | Change Cigarettes: Marlboro | 25,349 | 27,436 | (7.6) | % | 13,389 | 14,458 | (7.4) | % Other premium | 1,279 | 1,397 | (8.4) | % | 678 | 719 | (5.7) | % Discount | 2,793 | 1,437 | 94.4 | % | 1,487 | 889 | 67.3 | % Total domestic cigarettes (1) | 29,421 | 30,270 | (2.8) | % | 15,554 | 16,066 | (3.2) | % Cigars: Black & Mild | 906 | 883 | 2.6 | % | 503 | 478 | 5.2 | % Other | 1 | 1 | — | % | — | 1 | (100.0) | % Total cigars | 907 | 884 | 2.6 | % | 503 | 479 | 5.0 | % Total domestic smokeable products | 30,328 | 31,154 | (2.7) | % | 16,057 | 16,545 | (2.9) | % Contract manufactured export cigarettes (2) | 1,346 | 475 | 100%+ | 736 | 475 | 54.9 | % (1) Domestic cigarettes shipment volume includes Marlboro; Other premium brands, such as Virginia Slims and Parliament; and Discount brands, which include L&M and Basic. Domestic cigarettes volume includes units sold as well as promotional units sold for distribution in the U.S. and excludes units sold for distribution to Puerto Rico, U.S. Territories to overseas military and by Philip Morris Duty Free Inc., none of which, individually or in the aggregate, is material to our smokeable products segment. (2) Contract manufactured export cigarettes shipment volume represents contract manufactured cigarettes for third parties that market and sell tobacco products outside the U.S.

Total Domestic Cigarette Shipment Volume

15.55B

Shipment Volume and Retail Share Results The following table summarizes our smokeable products segment’s shipment volume performance: Shipment Volume For the Six Months Ended June 30, | For the Three Months Ended June 30, (sticks in millions) | 2026 | 2025 | Change | 2026 | 2025 | Change Cigarettes: Marlboro | 25,349 | 27,436 | (7.6) | % | 13,389 | 14,458 | (7.4) | % Other premium | 1,279 | 1,397 | (8.4) | % | 678 | 719 | (5.7) | % Discount | 2,793 | 1,437 | 94.4 | % | 1,487 | 889 | 67.3 | % Total domestic cigarettes (1) | 29,421 | 30,270 | (2.8) | % | 15,554 | 16,066 | (3.2) | % Cigars: Black & Mild | 906 | 883 | 2.6 | % | 503 | 478 | 5.2 | % Other | 1 | 1 | — | % | — | 1 | (100.0) | % Total cigars | 907 | 884 | 2.6 | % | 503 | 479 | 5.0 | % Total domestic smokeable products | 30,328 | 31,154 | (2.7) | % | 16,057 | 16,545 | (2.9) | % Contract manufactured export cigarettes (2) | 1,346 | 475 | 100%+ | 736 | 475 | 54.9 | % (1) Domestic cigarettes shipment volume includes Marlboro; Other premium brands, such as Virginia Slims and Parliament; and Discount brands, which include L&M and Basic. Domestic cigarettes volume includes units sold as well as promotional units sold for distribution in the U.S. and excludes units sold for distribution to Puerto Rico, U.S. Territories to overseas military and by Philip Morris Duty Free Inc., none of which, individually or in the aggregate, is material to our smokeable products segment. (2) Contract manufactured export cigarettes shipment volume represents contract manufactured cigarettes for third parties that market and sell tobacco products outside the U.S.

Total Domestic Smokeable Products Shipment Volume

16.06B

Shipment Volume and Retail Share Results The following table summarizes our smokeable products segment’s shipment volume performance: Shipment Volume For the Six Months Ended June 30, | For the Three Months Ended June 30, (sticks in millions) | 2026 | 2025 | Change | 2026 | 2025 | Change Cigarettes: Marlboro | 25,349 | 27,436 | (7.6) | % | 13,389 | 14,458 | (7.4) | % Other premium | 1,279 | 1,397 | (8.4) | % | 678 | 719 | (5.7) | % Discount | 2,793 | 1,437 | 94.4 | % | 1,487 | 889 | 67.3 | % Total domestic cigarettes (1) | 29,421 | 30,270 | (2.8) | % | 15,554 | 16,066 | (3.2) | % Cigars: Black & Mild | 906 | 883 | 2.6 | % | 503 | 478 | 5.2 | % Other | 1 | 1 | — | % | — | 1 | (100.0) | % Total cigars | 907 | 884 | 2.6 | % | 503 | 479 | 5.0 | % Total domestic smokeable products | 30,328 | 31,154 | (2.7) | % | 16,057 | 16,545 | (2.9) | % Contract manufactured export cigarettes (2) | 1,346 | 475 | 100%+ | 736 | 475 | 54.9 | % (1) Domestic cigarettes shipment volume includes Marlboro; Other premium brands, such as Virginia Slims and Parliament; and Discount brands, which include L&M and Basic. Domestic cigarettes volume includes units sold as well as promotional units sold for distribution in the U.S. and excludes units sold for distribution to Puerto Rico, U.S. Territories to overseas military and by Philip Morris Duty Free Inc., none of which, individually or in the aggregate, is material to our smokeable products segment. (2) Contract manufactured export cigarettes shipment volume represents contract manufactured cigarettes for third parties that market and sell tobacco products outside the U.S.

Total Oral Tobacco Products Shipment Volume

181.7M

Shipment Volume and Retail Share Results The following table summarizes our oral tobacco products segment’s shipment volume performance: Shipment Volume For the Six Months Ended June 30, | For the Three Months Ended June 30, (cans in millions) | 2026 | 2025 | Change | 2026 | 2025 | Change Copenhagen | 165.8 | 185.6 | (10.7) | % | 85.4 | 95.9 | (10.9) | % Skoal | 57.4 | 65.6 | (12.5) | % | 29.5 | 34.2 | (13.7) | % on! | 96.1 | 91.4 | 5.1 | % | 49.9 | 52.1 | (4.2) | % Other | 32.3 | 31.4 | 2.9 | % | 16.9 | 16.4 | 3.0 | % Total oral tobacco products | 351.6 | 374.0 | (6.0) | % | 181.7 | 198.6 | (8.5) | % Note: Other primarily includes Red Seal and Husky. Oral tobacco products shipment volume includes cans sold, as well as promotional units, but excludes non-domestic volume, which is currently not material to our oral tobacco products segment. New types of oral tobacco products, as well as new packaging configurations of existing oral tobacco products, may or may not be equivalent to existing MST products on a can-for-can basis. To calculate volumes of cans shipped, one can of oral nicotine pouches, irrespective of the number of pouches in the can, is assumed to be equivalent to one can of MST.

on! Shipment Volume

49.9M

Shipment Volume and Retail Share Results The following table summarizes our oral tobacco products segment’s shipment volume performance: Shipment Volume For the Six Months Ended June 30, | For the Three Months Ended June 30, (cans in millions) | 2026 | 2025 | Change | 2026 | 2025 | Change Copenhagen | 165.8 | 185.6 | (10.7) | % | 85.4 | 95.9 | (10.9) | % Skoal | 57.4 | 65.6 | (12.5) | % | 29.5 | 34.2 | (13.7) | % on! | 96.1 | 91.4 | 5.1 | % | 49.9 | 52.1 | (4.2) | % Other | 32.3 | 31.4 | 2.9 | % | 16.9 | 16.4 | 3.0 | % Total oral tobacco products | 351.6 | 374.0 | (6.0) | % | 181.7 | 198.6 | (8.5) | % Note: Other primarily includes Red Seal and Husky. Oral tobacco products shipment volume includes cans sold, as well as promotional units, but excludes non-domestic volume, which is currently not material to our oral tobacco products segment. New types of oral tobacco products, as well as new packaging configurations of existing oral tobacco products, may or may not be equivalent to existing MST products on a can-for-can basis. To calculate volumes of cans shipped, one can of oral nicotine pouches, irrespective of the number of pouches in the can, is assumed to be equivalent to one can of MST.

Adjusted Domestic Cigarette Shipment Volume Change

-4.5%

Six Months Ended June 30, 2026 Compared with the Six Months Ended June 30, 2025 Our smokeable products segment’s reported domestic cigarettes shipment volume decreased 2.8%, driven primarily by the industry’s decline rate (impacted by the continued discretionary income pressures on adult nicotine consumers), partially offset by trade inventory movements and retail share gains. When adjusted for trade inventory movements, our smokeable products segment domestic cigarette shipment volume decreased by an estimated 4%. When adjusted for trade inventory movements, total domestic cigarette industry volume decreased by an estimated 5%. Marlboro’s retail share of the premium segment was 59.6%, an increase of 0.1 share point. 50 Table of Contents Total cigarettes industry discount category retail share was 33.6%, an increase of 2.6 share points, due primarily to continued discretionary income pressures on adult nicotine consumers. Three Months Ended June 30, 2026 Compared with the Three Months Ended June 30, 2025 Our smokeable products segment’s reported domestic cigarettes shipment volume decreased 3.2%, driven primarily by the industry’s decline rate (impacted by the continued discretionary income pressures on adult nicotine consumers), partially offset by trade inventory movements and retail share gains. When adjusted for trade inventory movements, our smokeable products segment domestic cigarette shipment volume decreased by an estimated 4.5%. When adjusted for trade inventory movements, total domestic cigarette industry volume decreased by an estimated 5%. Marlboro’s retail share of the premium segment was 59.6%, unchanged versus the prior year and an increase of 0.1 share point sequentially. Total cigarettes industry discount category retail share was 33.8%, an increase of 2.6 share points versus the prior year and 0.5 share points sequentially, due primarily to continued discretionary income pressures on adult nicotine consumers.

Adjusted Oral Tobacco Shipment Volume Change

-2.0%

Six Months Ended June 30, 2026 Compared with Six Months Ended June 30, 2025 Our oral tobacco products segment’s reported domestic shipment volume decreased 6.0%, driven primarily by retail share losses, partially offset by the industry’s growth rate and other factors. When adjusted for trade inventory movements, our oral tobacco products segment’s reported domestic shipment volume decreased by an estimated 5.5%. Total oral tobacco products category industry volume increased by an estimated 6% over the six months ended June 30, 2026, driven primarily by growth in oral nicotine pouches, partially offset by declines in MST volumes. Our oral tobacco products segment’s retail share was 29.0%, a decrease of 4.5 share points due primarily to share declines for MST products. The U.S. nicotine pouch category grew to 59.0% of the U.S. oral tobacco category, an increase of 8.6 share points. on!’s share of the nicotine pouch category was 13.9%, a decrease of 2.9 share points. Three Months Ended June 30, 2026 Compared with Three Months Ended June 30, 2025 Our oral tobacco products segment’s reported domestic shipment volume decreased 8.5%, driven primarily by retail share losses and trade inventory movements, partially offset by the industry’s growth rate and other factors. When adjusted for trade inventory movements, our oral tobacco products segment’s reported domestic shipment volume decreased by an estimated 2%. Our oral tobacco products segment’s retail share was 29.0%, a decrease of 3.7 share points versus the prior year due primarily to share declines for MST products, and unchanged sequentially. Total U.S. oral tobacco category share for on! nicotine pouches was 8.6%, an increase of 0.3 share points versus the prior year and 0.8 share points sequentially. The U.S. nicotine pouch category grew to 59.9% of the U.S. oral tobacco category, an increase of 8.1 share points versus the prior year and 1.8 share points sequentially. on!’s share of the nicotine pouch category was 14.4%, a decrease of 1.7 share points versus the prior year and an increase of 1.0 share point sequentially.