BERGEN OP ZOOM, NETHERLANDS-- June 29, 2022 -- This announcement is not an offer, whether directly or indirectly, in Australia, Hong Kong, Japan, New Zealand, or South Africa or in any other jurisdiction where such offer pursuant to legislation and regulations in such relevant jurisdiction would be prohibited by applicable law. Shareholders not resident in Sweden who wish to accept the Offer (as defined below) must make inquiries concerning applicable legislation and possible tax consequences. Shareholders should refer to the offer restrictions included in the section titled “Important information” at the end of this announcement and in the offer document, which has been published on the Offer website (www.smokefree-offer.com). Shareholders in the United States should also refer to the section titled “Special notice to shareholders in the United States” at the end of this announcement.

On May 11, 2022, Philip Morris Holland Holdings B.V.[1] (“PMHH”), an affiliate of Philip Morris International Inc. (“PMI”) (NYSE: PM), announced a recommended public offer to the shareholders of Swedish Match AB (“Swedish Match”) to tender all shares in Swedish Match[2] to PMHH (the “Offer”).

The offer document relating to the Offer has today been approved and registered by the Swedish Financial Supervisory Authority (Sw. Finansinspektionen).

The offer document is available on the Offer website (www.smokefree-offer.com) in English and Swedish and will be available on the Swedish Financial Supervisory Authority’s website (www.fi.se) in Swedish. A copy of the offer document and a preprinted acceptance form will be sent to shareholders of Swedish Match whose shares were directly registered with Euroclear Sweden AB as of June 29, 2022, except for those domiciled in the excluded jurisdictions (see above). The acceptance form for directly registered shareholders of Swedish Match can also be obtained via email: smokefree-offer@answeronline.se.

The acceptance period of the Offer starts on June 29, 2022 and ends on September 30, 2022. Settlement is expected to commence on or around October 6, 2022.

PMHH has reserved the right to extend the acceptance period and, to the extent necessary and permissible, will do so in order for the acceptance period to cover applicable decision-making procedures at relevant authorities. PMHH has also reserved the right to postpone the settlement date, however, that settlement shall in any event be made within 7 business days following the expiration of the acceptance period (provided that the Offer has been declared unconditional). PMHH will announce any extension of the acceptance period and/or postponement of the settlement date by a press release in accordance with applicable laws and regulations.