British American Tobacco PLC has announced a share repurchase programme, in line with the share buyback programme announced on 18 March 2024. The company has entered into an agreement with Goldman Sachs International to purchase ordinary shares of the Company commencing on 25 July and ending on 14 October 2024. The purpose of the Programme is to reduce the share capital of the Company, with the repurchased shares to be cancelled.

The maximum number of shares permitted to be purchased by the Company under the Programme is 223,642,156 shares. The purchases will be undertaken within certain pre-set parameters and in accordance with the Company's general authority to repurchase shares granted by its shareholders at the Company's 2024 AGM, the Market Abuse Regulation 596/2014, and the Commission Delegated Regulation (2016/1052).

The maximum price which may be paid for a share is determined by specific criteria, including the average market value of a share and the highest current independent purchase bid on the trading venue where the purchase is carried out. The company has provided contact information for investor relations for any further enquiries.

This announcement provides insight into British American Tobacco PLC's strategic financial decisions and its commitment to optimizing its share capital structure.