Philip Morris International Inc. (PMI) Holds 2024 Virtual Annual Meeting of Shareholders

Regulatory News:

Philip Morris International Inc. (NYSE: PM) held its 2024 Annual Meeting of Shareholders today. André Calantzopoulos, Executive Chairman of the Board, addressed shareholders and answered questions. Jacek Olczak, Chief Executive Officer, gave a business presentation, which included an overview of PMI’s:

• performance in 2023 and strong start to 2024;
• robust business fundamentals and rapid progress on its smoke-free transformation;
• excellent momentum in the heat-not-burn and nicotine pouch categories;
• further progress on sustainability, with continued recognition by leading external stakeholders; and
• commitment to rewarding shareholders over time.

"Our strategy to become a smoke-free company has enabled us to build and sustain strong momentum, resulting in smoke-free products reaching nearly 40% of our total net revenues and over 40% of our gross profit in the fourth quarter of 2023,” said Jacek Olczak, Chief Executive Officer.

“As a global smoke-free champion with leading brands IQOS and ZYN, we are well positioned to further accelerate our transformation in the years to come, to the benefit of the company, our shareholders, other stakeholders and public health.”

Approximately 80 percent of the shares entitled to vote were represented at the meeting in person or by proxy. The shareholders elected 12 nominees for director; approved, on an advisory basis, the compensation of named executive officers; and ratified the selection of PricewaterhouseCoopers SA as independent auditors. Final voting results will be included in a Form 8-K that PMI will file with the SEC in the coming days.

An archived copy of the webcast of the meeting will be available for approximately one year from the date of the meeting at www.virtualshareholdermeeting.com/PM2024. The presentation slides and script will be available at the same website address.

Forward-Looking & Cautionary Statements

The presentation, related discussion and this press release contains projections of future results and goals and other forward-looking statements, including statements regarding expected financial or operational performance; capital allocation plans; investment strategies; regulatory outcomes; market expectations; and business plans and strategies. Achievement of future results is subject to risks, uncertainties and inaccurate assumptions. In the event that risks or uncertainties materialize, or underlying assumptions 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 results and outcomes to differ materially from those contained in any forward-looking statements made by PMI.