NOTICE OF ISSUER SUBSTITUTION

22 May 2026

Imperial Brands Finance PLC

Legal Entity Identifier (LEI): 2138008L3B3MCG1DFS50

Notice of Issuer Substitution

This notice is addressed to the noteholders (the "Noteholders") of the following series of notes issued by Imperial Brands Finance Netherlands B.V. (the "Original Issuer"):

(i)         the €1,050,000,000 5.250 per cent. Notes due 15 February 2031 (ISIN: XS2586739729) (the "2031 Notes"); and

(ii)        the €1,000,000,000 1.750 per cent Notes due 18 March 2033 (ISIN: XS2320459063) (the "2033 Notes" and, together with the 2031 Notes, the "Notes"),

and is issued pursuant to the respective terms and conditions of the Notes and the terms of the trust deed entered into between, among others, the Original Issuer, Imperial Brands Finance PLC (the "New Issuer") and BNY Mellon Corporate Trustee Services Limited (the "Trustee") originally dated 25 January 2023 as amended and restated on 27 January 2025 and as supplemented by (i) in respect of the 2031 Notes, a supplemental trust deed dated 22 May 2026 between, the Original Issuer, the New Issuer  and the Trustee; and (ii) in respect of the 2033 Notes, a supplemental trust deed dated 22 May 2026 between the Original Issuer, the New Issuer and the Trustee (the "Trust Deeds" and each a "Trust Deed").

In respect of each series of Notes and pursuant to:

(i)         Clause 15.2 (Substitution) of each Trust Deed; and

(ii)        Condition 11(c) (Substitution) of the terms and conditions of each series of Notes,

with effect on and from 22 May 2026, the New Issuer will be substituted in place of the Original Issuer as issuer and principal debtor under each series of Notes and the respective Trust Deeds (the "Substitution").

Following the Substitution, the Notes will continue to be listed on the Main Market of the London Stock Exchange and will continue to be guaranteed by Imperial Brands PLC.

For further information, please contact:

Peter J. Walker-Smith, Group Treasurer

121 Winterstoke Road

Bristol

BS3 2LL

England

Telephone: +44 (0)117 933 7021

Email: [email protected]