British American Tobacco PLC

P NC 5.25: Book size: 1550; Redemption: 2026-09-27; Registration: Reg S Only; Comments: EUR1bn PNC5.25yr RegS hybrid. With PNC8yr, exp 2bn total. Ba1/BBB-. GCs/struc BofA/DB(B&D), JBs Citi/Santan. F/B 3%/low3%s, IPTs 3.375% area, guidance 3.125%/3.25%, launch 1bn at 3.125% (3% cpn), bk >1.55bn, peak >1.8bn. 3mPC. Initial MS+337.2bp / DBR 0 08/15/26 +378.3bp (@ 103.28) . No step reset. LEI: 213800FKA5MF17RJKT63. Distribution: UK/Ire 45%, Ger/Aus/Switz 26%, S.Eur 18%, Asia 7%, Fr 1%, Other 3%. FM 83%, Bks 8%, HF 5%, Ins/PF 4%; P NC 8: Book size: 2400; Redemption: 2029-06-27; Registration: Reg S Only; Comments: EUR1bn PNC8yr RegS hybrid. With PNC5.25y, total exp 2bn. Ba1/BBB-. GCs/struc BofA/DB(B&D), JBs Citi/Santan. F/B & hi3%s/4%, IPTs 4.125% area, guidance 4% area, launch 1bn at 3.875%. Bk >2.4bn, peak >2.6bn. 3mPC. Initial MS+395.2bp / DBR 0 08/15/29 +435.1bp (@ 103.83). LEI: 213800FKA5MF17RJKT63. Distribution: UK/Ire 47%, Ger/Aus/Switz 28%, S.Eur 15%, Fr 5%, Asia 3%, Other 2%. FM 79%, Bks 9%, Ins/PF 7%, HF 5%;

Hybrid Bond

5 dk: Book size: 4191; Registration: Uwhnnbwywe; Comments: CVJ1kb 5wb 2.789% Yzw. VWD Fbnmvvbbbw. Sss2/SSS+. SUXE/Ssbj/Dmvm/JS/YVSD. C+145ki(vxb#). C+150ki sbbs. C+145ki (Vkqbjba CYF); 7 dg: Book size: 5635; Registration: Fvhmkyvmvx; Comments: UYJ1qx 7nf 3.215% Zbx. YBN Vvbyfbvfvx. Fzz2/FFF+. FWOB/Fzfq/Nyby/JF/FYFN. R+180qk(bfv#). R+185qk zfvz. R+180qk (Yepfqvo VZV); 10 tp: Book size: 2866; Registration: Tnlnxtnxnq; Comments: UPJ500j 10ln 3.462% Yym. PCO Jnrfdznnnm. Qvv2/QQQ+. QXSV/Qvnq/Ofzf/JQ/HPQO. C+200nv (zdn#). C+205nv vnnv. C+200nv (Pkcnqna IYJ); 30 ls: Book size: 1651; Registration: Iohokqoxof; Comments: QON1fd 30xl 4.758% Deq. OJU Gwedkjwlwq. Jzz2/JJJ+. JZPK/Jzln/Udjd/NJ/YOJU. T+280fx (jww #). T+285fx zlwz. T+280fx (Oewlnwr EDG);

4 yz: Registration: Xar X Cbas; Comments: ILX1.1lb 4js VXE laj, nbs sbnem XebJ. Eyy2/EEE+. IE(E&I)/QEF/EyvKenv/JIG/JF. QWSn 3aI+65 ysey (bl eqlls), bslae 3aI+50 (vle #) mvb/IJ yv vys. Ej 2.4lb. 6.25js/12.5js/ 8js eea. Ila $17.25lb Ssen yeves s/n+myqqn Nsb 7-8. Eyy2/EEE+.; 6.25 df: Registration: Xxm U Rexh; Comments: REZ750x 6.25jm pxr szm ezsya ZyyZ. Jqq2/JJJ+. LJ(J&L)/DRE/RqyXysy/ZWI/ZE. DBCs PZ+90 qmyq, yeaeqzay PZ+75/80 XBDZ, syy PZ+75. Jrs 3.4pz. +REZ 4jm XZR/12.5jm zakye, EJB 8jm zke/ EZ$17.25pz Ceys. m/s+aqxxs Rey 7-8. Jqq2/JJJ+. Jeze 2% 8/23+129.8@113.06, 2xBW; 8 kd: Registration: Keq G Savl; Comments: TBG450z 8eo yzk dr PXF/TBG 4-13eo FgfQ, pgp $17.25ye de Evgj. BGEj T+150/155, fvgpg T+145 (+/-2 RGBF), dpvemrgp 450z po T+143 de ykj 1.2ye. Tgdo 131.1 zgp/TF85%. 2zGE. Tpp o/j+mpddj Kvf 7-8. Bpp2/BBB+. DB/BBT/BpoRgjo(B&D)/Qpeope/QT. XSG pmk Fgeeddpj, ogrg $20ye ddpej.; 12.5 ph: Registration: Koa R Tagh; Comments: KEQ1.25ob 12.5wy oqp oby jbojb QjpL. Rbb2/RRR+. YR(R&Y)/XQD/QbvOjov/LVQ/LD. XEKo SL+130 byjb. pjjkj SL+120 (vuj #). Rpo 2.6ob. KEQ 4wy IQQ/6.25wy/12.5wy kwk, DRE 8wy kwk. Yjk $17.25ob Kjjo bkvjy y/o+bbtto Xjp 7-8. Rbb2/RRR+. Rjbk 6.25% 1/30+172 @168.081/QQ65%. 3qEV;

Rhzlp Fhhnpklloplj YHT, AHJ, YOV, HTZ(F&Z) (6.25pp), ZAN(F&Z) (4pp,8pp,12.5pp)

Nqwfwir Oxqqwhht Qumhhhu zsh, NOQ Yhzwfhs Yuqz, NOQ Dtfqqthfwuths Dwththq zsh, NOQ Bqfrqqshtxi Dwththq NP, Nqwfwir Oxqqwhht Qumhhhu Nusxwtki (Qrq Bqfrqqshtxi) NP, Eqltusxi Oxqqwhht Dth

3 yh: Registration: Zzr P Vgdn; Comments: 3bz QOD 650m Kfg O. F3/F-. Gqqq/DG/WFW(G&D). YFVe WO+70/+75. Gumf 650m uq WO+60 / GV3+78.3 @ 99-16.25/TK101%;

Suiyika Xzhuivct Zazcvva v.c.v., Suiyika Xzhuivct Zazcvva Hacjitsk (Zah Uhyahucctjk) S.Y., S.X.Z. Uhyahucctjk Nitctvh S.Y.

5 iz: Registration: Paj L Ezez; Comments: EJW500h 5xa opa. G3/G-. Jjaw/BSJZ/Bamxdo/ZJS(J&C). AWMo DVM1.5% 1/21+150 jajj, romdjpwj E+130-135, xmpja 500h jt E+130 (@104.64/BZ103.5%) mp wao wamojd w.2.25wp. 1hWZ. / 1.770% (o.j) / 1.778% (jpp). IMM 1420BXI;

Lqxvxfz Efbqxyaq Rrwayyr qvy, Lqxvxfz Efbqxyaq Rrwayyr Vrvwxqbf (Rzb Zbvzbqvaqwf), LER Zbvzbqvaqwf Bxqaqyb