Our portfolio currently consists of four smoke-free products. Two of them heat tobacco; the other two produce a nicotine-containing vapor without using tobacco. Our smoke-free products are now available in 67 markets.

Our most advanced smoke-free product is the tobacco heating system IQOS, which releases nicotine and flavors without combustion. Because the tobacco is heated and not burned, the average levels of harmful chemicals are significantly reduced compared to cigarette smoke. This is also true for our second heated tobacco product in development, TEEPS.

Our products without tobacco produce a nicotine-containing vapor. IQOS VEEV is our next generation e-vapor product, with a heating technology that represents a new approach to vapor generation. And unlike other e-cigarettes, IQOS VEEV is manufactured in a fully automated process in our European production facilities. Our other product without tobacco that is currently under development is STEEM, which generates a flavorful nicotine-containing vapor in the form of a nicotine salt.

We are committed to our purpose of delivering a smoke-free future and have invested in research and development to create our portfolio of smoke-free products that would encourage adult smokers who would otherwise continue smoking to switch.