nt topic-specific standards. This report follows guidance from the International Sustainability Standards Board (ISSB) of the IFRS Foundation, including SASB Standards, Integrated Thinking Principles, and the Integrated Reporting Framework. Beginning with the 2025 reporting cycle, the company renamed its annual disclosure from the ‘Integrated Report’ to the ‘Value Report’ to reflect its commitment to transparency, communicating how it creates, preserves, and enhances value over the short, medium, and long term. The Value Report continues to build on the foundation established by previous Integrated Reports, providing a comprehensive and integrated view of PMI’s strategy, management, performance, and outlook in relation to its most significant sustainability-related topics.

Please visitwww.pmi.com/sustainabilityto learn more and readthe full 2025 Value Report, as well asStories of Impact.

Philip Morris International: A Global Smoke-Free
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