Philip Morris International Updates Segment Reporting Following Vectura Sale

On March 25, 2025, Philip Morris International Inc. (PMI) announced changes to its segment reporting structure after the December 31, 2024 divestiture of Vectura Group Ltd. The company has integrated the remaining Wellness and Healthcare operations into the Europe segment and renamed its “PMI Duty Free” business as “PMI Global Travel Retail.”

The updated regional segments are:
- Europe Region
- South & Southeast Asia, Commonwealth of Independent States, and Middle East & Africa (SSEA, CIS & MEA)
- East Asia, Australia & PMI Global Travel Retail (EA, AU & PMI GTR)
- Americas Region

To support this transition, PMI published unaudited recast financial information for fiscal years 2022 through 2024 on its website. These changes do not affect the company’s previously reported consolidated financial results and are intended to help investors better evaluate PMI’s performance by reflecting the new structure.

The updated information was furnished as Exhibits 99.1 and 99.2 to the SEC and includes reconciliations of non-GAAP metrics. PMI emphasized that shipment volumes and overall financials on a consolidated basis remain unchanged from prior disclosures.