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Championing a Smoke-Free World CAGNY Conference February 18, 2026 Jacek Olczak, Group CEO PMI Emmanuel Babeau, Group CFO PMI Introduction • A glossary of terms as well as adjustments, ot her calculations and reconciliations to the most directly comparable U.S. GAAP measures for non-GAAP financial measures cited in this presentation are available on our Investor Relations website with additional non-GAAP reconciliations available at the end of this presentation 2
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Championing a Smoke-Free World CAGNY Conference February 18, 2026 Jacek Olczak, Group CEO PMI Emmanuel Babeau, Group CFO PMI Introduction • A glossary of terms as well as adjustments, ot her calculations and reconciliations to the most directly comparable U.S. GAAP measures for non-GAAP financial measures cited in this presentation are available on our Investor Relations website with additional non-GAAP reconciliations available at the end of this presentation 2
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Forward-Looking and Cautionary Statements • This presentation contains pr ojections of future results and goals and other forward-look ing statements, including statements regarding expecte d financial or operational performance; capital allocation plans; investment strategies; regulatory outcomes; market expectations; business plans and strategies. Achievement of future results is subject to risks, uncertaint ies and inaccurate assumptions. In the event that r isks or uncertainties materialize, or underlyin ga s s u m p t i o n s prove inaccurate, actual results could vary materially from those contained in such forward-looking statements. Pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, PMI is identifying important factors that, individually or in the aggregate, could cause actual re sults and outcomes to differ materially from those contained in any forward-looking statements made by PMI • PMI's business risks include: marketing and regulatory restrictions that could reduce our competitiveness, disrupt our SFP commercialization eff orts, eliminate our ability to communicate with adult consumers, or ban certain of our produc ts in certain markets or countries; ex cise tax increases and discriminatory tax structures; health concerns relating to the use of tobacco and other nicoti ne-containing products; litigation related to tobacco and/or nicotine p roducts and intellectual property rights; intense competition; inability to anticipat e changes in adult consumer preferences; use and reliance on third-part ies; the adverse effects of global and individual country economic, regulatory and politic al developments, natural disasters and conflicts; geopolitical instabi lity affecting international trade; the impact and consequences of Russia's invasion of U kraine; changes in adult smoker behavior; continued decline of tax-paid c igarettes; lost revenues as a result of counterfeiting, contraband and cross-border pu rchases; governmental investigations; unfavorable currency exchange rates and currency devaluations, sustained periods of elevated inflation, and limitations on the ability to repatriate funds; adverse changes in applicable corporate tax laws; disruptions in the credit markets or changes to its credit ratings; rec ent and potential future tariffs imposed by the U.S. and other countries; adverse changes in the cost, availability, and quality of tobacco and other agricul tural products and raw materials, as well as product components for our ele ctronic devices; and the integrity of its information systems and effectiveness of its data privacy policie s. PMI's future profitability may also be adverse ly affected should it be unsuccessful, in key markets or systemically, in its efforts to introduce, commercialize, and grow smoke-free products or if regulation or taxation do not differentiate between such products and cigarettes; if it is unable to su ccessfully introduce new products, promote brand equity; if there are pr olonged disruptions of facilities used to produce its products; if it is unable to enter new markets or improve its margins through increased prices and productivity gains; if other market participants are more successful in their SFP commercialization efforts; if it is unable to attract and retain the best global talent; or if it is unable to successfully integrate and realize the expected benefits from recent tr ansactions and acquisitions. Future results are also subject to the lower predictability of our smoke-free products performance. • PMI is further subject to other risks detailed from time to time in its publicly filed documents, including PMI's Annual Report on Form 10-K for the four th quarter and year ended December 31, 2025. PMI cautions that the foregoing list of important factors is not a complete discussion of all potential risks and uncertainties. PMI does not undertake to update any forward-looking statement that it may make from time to time, except in the normal course of its pub lic disclosure obligations • References to “PMI”, “we”, “our” and “us” mean Philip Morris International Inc., including its subsidiaries 3 PMI Executive Team Here Today 4 Group Chief Legal Officer Yann Guérin CEO PMI International Fred De Wilde Jacek Olczak Group CEO PMI Emmanuel Babeau Group CFO PMI Chief Global Growth Officer Stefano Volpetti CEO PMI U.S. Stacey Kennedy President Europe Region Massimo Andolina