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Vaping typically results in more gradual nicotine delivery, affecting how users feel and their consumption patterns

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For year ended 31 December 2025 Volume Revenue Reported Reported Current Exchange Constant Unit vs 2024 m vs 2024 m m vs 2024 New Categories 1,813 +4.8 % (6) 1,807 +4.3 % Vapour (units mn) 244 -11.6 % 543 -11.2 % (1) 542 -11.4 % HP (sticks bn) 8 -3.4 % 470 +6.2 % 1 471 +6.2 % Modern Oral (pouches bn) 7.5 +19.0 % 800 +18.3 % (6) 794 +17.3 % Traditional Oral (stick eq bn) 0.7 -10.3 % 37 +9.9 % (1) 36 +5.1 % Total Smokeless 1,850 +4.9 % (7) 1,843 +4.4 % Total Combustibles 237 -4.9 % 6,974 -0.9 % 226 7,200 +2.3 % Other1 485 +10.8 % 20 505 +15.7 % Total 9,309 +0.7 % 239 9,548 +3.3 % Constant currency measures are calculated based upon a re-translation, at the prior year's exchange rates, of the current year's results of the Group and, where applicable, its segments

Assessing heterogeneity in meta-analysis: Q statistic or I2 index