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PMI Powerpoint Presentation Investor Day – Asia Region Lausanne, June 23, 2010 Matteo Pellegrini President, Asia Region Philip Morris International Agenda ● Operating environment ● PMI strategic priorities in Asia ● Brand portfolio and innovations ● Key Asia markets: highlights ● Questions & Answers 2 Operating Environment 2009 • Population : 3.8 billion Korea Japan • Cigarette Volume: 3.4 trillion China Taiwan Cigarette Volume: Pakistan Hong Kong 1.2 trillion units (Excl. – China) Others 15% India Bangladesh Indonesia Thailand Philippines 22% Vietnam Bangladesh 6% Malaysia Pakistan Singapore 6% Vietnam Indonesia 7% Japan 20% Australia Philippines New Zealand 7% Korea 8% India Asia accounts for 56% of the world’s population 9% And 60% of the world’s cigarette volume… Note: Cigarette volumes reflect 2009 Source: Global Insights 3 GDP Per Capita in 15 Key Markets ($ 000) 50 43.9 39.9 36.4 30.4 USA US $ 46,300 European Union US $ 33,100 Asia Pacific US $ 4,000 17.2 16.5 7.0 Asia: $ 4.0 3.9 3.5 2.3 1.8 1.1 1.0 0.9 0.6 0 India China Japan Taiwan Vietnam Thailand Pakistan Malaysia Australia Indonesia Singapore Philippines Hong Kong Bangladesh South Korea Source: Global Insights 4 GDP Growth and Unemployment Rates (%) Japan (%) Australia 7 7 7 7 5.1 4.7 4.1 5.6 3.8 4.0 5.2 4.8 4.4 2.0 2.3 2.0 4.2 2008 2009 4.7 3.3 0 0 2.6 2006 2007 2010 F 2.4 (1.2) 1.3 (5.2) (7) (7) 0 0 GDP Growth Rate 2006 2007 2008 2009 2010 F Unemployment Rate (%) Indonesia (%) Philippines 12 12 12 12 10.3 9.1 8.4 7.9 8.1 8.0 7.3 7.4 7.5 7.3 6.3 6.1 5.5 5.6 5.3 7.1 4.5 3.8 4.2 0.9 0 0 0 0 2006 2007 2008 2009 2010 F 2006 2007 2008 2009 2010 F Source: Global Insights 5 Asia Region Results Shipment Volume Net Revenues 2005 - 2009 CAGR = 6.9% 2005 - 2009 CAGR = 7.2% (billions units) ($ million) 6,528 6,185 5,648 224 226 5,505 212 4,941 193 173 2005 2006 2007 2008 2009 2005 2006 2007 2008 2009 Growth (%) Growth (%) 21.7 11.6 9.4 5.8 1.1 32.6 11.4 2.6 9.5 5.5 Source: PMI Financials 6 Asia Region Results Operating Companies Income 2005 - 2009 CAGR = 7.8% ($ million) 2,436 2,057 1,801 1,847 1,803 2005 2006 2007 2008 2009 Growth (%) 38.8 2.6 (2.4) 14.1 18.4 Source: PMI Financials 7 Asia Region Q1, 2010 Results Shipment Volume Net Revenues Operating Companies Income Growth: +11.4% +17.8 % +9.5 % + 0.6% (excl. acquisitions) +2.3 % (excl. curr & acq) (2.0) % (excl. curr & acq) (billion units) ($ million) ($ million) 100 2,000 1,873 850 724 1,590 661 63.2 56.8 0 0 0 Q1 2009 Q1 2010 Q1 2009 Q1 2010 Q1 2009 Q1 2010 Source: PMI Financials 8 PMI Regional Market Share Lakson PMFTC (%) 25 21.1 19.2 16.8 0 2006 2007 2008 2009 2010 Q1 Note: PMI market share includes FTC contribution in the Philippines in Q1, 2010. Asia excludes PRC, North Korea and Myanmar Source: PMI estimates 9 Regional Market Share Changes in Q1, 2010 Impact from Business Combination 7.1 Share growth in the majority of markets in Q1 3.5 3.5 1.8 1.5 1.5 0.3 0.1 0.3 0.3 ID PK PH KR HK AU SG TW JP TH MY VN (0.2) (0.5) 2010 Q1 SoM PH KR HK AU SG TW JP TH MY VN ID PK 39.9 17.4 53.3 39.8 48.1 7.0 24.2 20.4 14.5 0.9 28.8 41.6 Source: PMI estimates 10 Asia Region Contribution to 2009 PMI Results Cigarette Shipment Volume Asia 26% Net Revenues Operating Companies Income Asia Asia 26% 24% Source: PMI Financials 11 Strategic Priorities ● Marlboro and the new architecture ● Innovation pipeline 12 Strategic Priorities ● Marlboro and the new architecture ● Innovation pipeline ● Regulatory and fiscal environments 13 Strategic Priorities ● Marlboro and the new architecture ● Innovation pipeline ● Regulatory and fiscal environments ● Investing for growth: - Philippines - India 14 Marlboro Architecture 15 Marlboro Black Menthol Marlboro Black Menthol Share of Market (%) Q1, 2010 2.9% 2.5% 1.3% 0.8% 0.6% 0.2% Hong Macau Japan(a) Malaysia Phil. Indonesia Kong Marlboro Black Menthol launched across Asia (a) Includes the performance of Marlboro Black Menthol One Source: A.C. Nielsen, Tobacco Institute of Japan and PMI estimates 16 Marlboro Ice Blast Marlboro Ice Blast SoM (%) April 2010 4.3% 2.9% Singapore Hong Kong Source: A.C. Nielsen and PMI estimates 17 Marlboro Performance 2009 Shipment Volume Growth vs. (billion units) 2008 Total Asia 69.8 +4.3% Japan 24.8 +0.8% Philippines 19.0 +5.1% Indonesia 11.7 +7.3% Korea 5.6 +22.4% Thailand 1.4 (6.5)% Malaysia 1.4 (14.8)% Hong Kong 1.3 (16.6)% China 1.3 +87.7% Singapore 0.8 +9.2% Others 2.5 (4.7)% 0 5 10 15 20 25 30 35 Source: PMI Financials 18 Marlboro Performance Q1, 2010 Shipment Volume Growth vs. (billion units) Q1 2009 Total Asia 18.2 +7.4% Japan 6.4 (1.0)% Philippines 5.2 +21.9% Indonesia 2.9 +0.0% Korea 1.4 +12.0% Thailand 0.4 +16.2% Malaysia 0.4 +1.7% Hong Kong 0.3 (6.4)% China 0.2 +100% Singapore 0.2 +8.9% Others 0.8 +2.5% 01234567 Source: PMI Financials 19 Japan ● Sizeable but declining market: - 25% smoking incidence - Average consumption of 20 cigarettes / day - Aging population ● Strong and balanced portfolio across the main price segments ● Continued innovation pipeline ● Strong Marlboro share growth momentum ● Pricing freedom key to increasing profitability 20 Japan – Industry Volume (billions units) 2000-2009 CAGR = (3.6)% 327 321 314 302 294 286 274 261 249 236 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 Source: Tobacco Institute of Japan 21 Japan – Taxation and Pricing ● 40% excise tax increase unprecedented ● Significant market contraction anticipated ● Based on JT’s price submission to the Ministry of Finance, significant unit margin increases expected for the industry 22 Japan – Taxation and Pricing ● 40% excise tax increase unprecedented ● Significant market contraction expected ● Based on JT price submission to MOF, significant unit margin increases expected for the industry ● Ministry of Finance approved PMJ’s request to increase prices in June: - Important step towards ultimately obtaining complete pricing freedom in market - Decision not to implement due to competitive situation ● Key objective for PMJ is to unlock pricing potential: - Improve margins and profitability 23 Japan – Market Shares (%) 72 70.7 69.4 67.9 67.0 66.6 65.8 65.0 64.8 65.0 65.0 64.8 JT 23.6 24 24.4 24.8 24.7 24.3 23.9 24 24.2 21.4 22.5 PMI 10.4 10.6 10.5 10.5 8.7 8.6 9.1 9.9 7.8 8.0 8.2 BAT 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Q1 Source: Tobacco Institute of Japan 24 Japan – Marlboro (%) Marlboro Share of Market 11 10.8 10.5 10.1 9.9 9.9 9.7 9.2 8.9 8.4 8.0 7.0 6 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Q1 Source: Tobacco Institute of Japan 25 Japan – New Brand Introductions December 2009 Share: (%) 17.9% 20 2009 30 Launches 4.6% 2008 31 Launches 3.8% 28 Launches 2007 2.6% 37 Launches 2006 3.8% 51 Launches 2005 3.1% 0 Jan Jan Jan Jan Jan Dec 2005 2006 2007 2008 2009 2009 Highly Competitive Marketplace Source: Tobacco Institute of Japan 26 Japan – Recent PMJ Launches ● PMJ launched attractive new offerings ● Cumulative market share of PMI’s 2009 launches April 2010 YTD: 1.7% Positive consumer response to PMI’s innovative product offerings Source: Tobacco Institute of Japan 27 Australia ● 25% excise tax increase effective April 30, 2010 ● Plain packaging initiative announced by government ● Continue to engage government and relevant stakeholders 28 Australia – Market Shares (%) 50 46.0 45.5 45.4 45.4 43.2 BAT 37.7 37.9 39.8 36.2 37.2 PMI 17.7 17.2 16.7 16.6 16.9 IMT 10 2006 2007 2008 2009 2010 Q1 Business performing well Source: PwC Data Exchange 29 Australia – PMI Brand Shares (%) 36.2 37.2 37.7 37.9 39.8 PMI 16.5 16.5 16.3 16.1 16.9 Longbeach Peter 14.4 14.5 14.3 13.9 14.3 Z Jackson 3.6 choice 3.0 2.3 2.4 2.5 2.4 2.5 Marlboro 2.2 2.2 2.2 Alpine 2.2 2.2 2.2 0.5 1.5 2006 2007 2008 2009 2010 Q1 Source: PwC Data Exchange 30 Indonesia ● Sampoerna continues to be the market leader ● Strong and balanced portfolio: - A Mild the leading franchise since Q1, 2009 - Number of other strong local offerings ● Record Marlboro volume in 2009 ● Continued industry growth Source: A.C. Nielsen and PMI Financials 31 Indonesia – Industry Volume (billion units) 2005-2009 CAGR = 4.6% 260 247 237 229 217 2005 2006 2007 2008 2009 Source: PMI estimates 32 Indonesia – Market Shares (%) 32 PMI / 29.5 29.1 28.8 28.3 28.0 Sampoerna 27.4 25.3 26.4 23.1 Gudang 22.0 21.4 21.3 Garam 21.2 20.2 19.7 19.6 19.5 Djarum 18.1 BAT / 8.4 7.7 8.3 7.9 Bentoel 6.4 5.7 0 2005 2006 2007 2008 2009 2010 Q1 Source: A.C.
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