THIS ANNOUNCEMENT IS BEING MADE PURSUANT TO RULE 19.6(C) OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE") WHICH, AMONGST OTHER THINGS, REQUIRES A PARTY TO AN OFFER TO MAKE AN ANNOUNCEMENT AT THE END OF A PERIOD OF 12 MONTHS FROM THE END OF THE OFFER PERIOD CONFIRMING WHETHER IT HAS TAKEN, OR NOT TAKEN, THE COURSE OF ACTION SET OUT IN ITS STATED INTENTIONS.

FOR IMMEDIATE RELEASE

16 September 2022

PMI Global Services Inc. ("PMI Bidder")

a wholly owned direct subsidiary of Philip Morris International Inc. ("PMI")

Rule 19.6(c) confirmation in respect of post-offer intention statements made in relation to Vectura Group plc ("Vectura")

PMI Bidder announces that, further to the completion of its recommended cash offer ("Offer") for the entire issued and to be issued share capital of Vectura, which Offer was effected by way of the offer document posted on 16 August 2021 ("Offer Document"), and which was declared unconditional in all respects on 16 September 2021, it has duly confirmed in writing to The Panel on Takeovers and Mergers in accordance with the requirements of Rule 19.6(c) of the Code that it has complied with its post offer intention statements made pursuant to Rules 2.7(c)(iv) and 24.2 of the Code, as originally detailed in the Vectura's Rule 2.7 announcement of 9 July 2019 and in the Offer Document.

Enquiries:

PMI Bidder