At-A-Glance

A successful company is always evolving, and Altria represents more than a century-and-a-half of business innovation and sustained, disciplined growth.

Our family of companies includes Philip Morris USA; U.S. Smokeless Tobacco Company; John Middleton; Nat Sherman; Ste. Michelle Wine Estates and Philip Morris Capital Corporation. While our companies have evolved over the years, our success is still firmly rooted in our companies’ ability to understand changing consumer preferences and societal views toward tobacco.

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Altria

Altria Group is focused on setting standards and priorities for our companies, including valuing and respecting employees, working to reduce the harm associated with cigarettes and other tobacco products and partnering locally to improve the quality of life in the communities where we do business.

National Impact

Altria's operating companies provide well-paying manufacturing/production jobs for employees across the country.

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Annualized Dividends

In 2018, Altria paid out approximately 80 percent of its adjusted diluted EPS in the form of dividends. Learn More

Operating Companies

PM USA

Philip Morris USA, the nation’s leading cigarette manufacturer, is more than 167 years old.

The history of the company can be traced back to Philip Morris’ 1847 opening of a single shop on London’s Bond Street, which sold tobacco and ready-made cigarettes. In 1902, Philip Morris & Co., Ltd. incorporated as a small tobacco company in New York City. In 1960, Philip Morris was the smallest among the six major tobacco companies in the United States. By 1983, the company grew to become the largest cigarette manufacturer in the U.S. in terms of revenue and market share.

PM USA’S Brands

Marlboro leads our cigarette product portfolio.

Marlboro ● Basic ● Benson & Hedges ● Cambridge ● Chesterfield ● Commander ● Dave's ● English Ovals ● L&M ● Lark ● Merit ● Parliament ● Players ● Saratoga ● Virginia Slims

Cigarette Market Share

This chart summarizes retail share performance for PM USA's cigarette brands for 2018. PM USA's cigarette retail share was 50.1 percent.¹

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USSTC

U.S. Smokeless Tobacco Company has an American heritage and a relationship with the American farmer that dates back to 1822.

It began when George Weyman, inventor of Copenhagen Snuff, opened his tobacco shop in Pittsburgh, Pennsylvania. Over the next two centuries, the evolution of USSTC closely mirrored the explosive growth of the United States. In 2009, USSTC joined Altria Group and today is the world's leading producer and marketer of moist smokeless tobacco products.

USSTC'S Brands

In the U.S., Copenhagen and Skoal are the two leading premium smokeless tobacco brands.

Copenhagen ● Cope ● Copenhagen Pouches ● Skoal ● Skoal Bandits ● Skoal Pouches ● Red Seal ● Husky

Smokeless Market Share

This chart summarizes retail share performance for USSTC's brands for 2018. USSTC's retail share was 54.0 percent.²

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JMC

John Middleton's roots in tobacco date back to 1856 and today is a leading manufacturer and marketer of pipe tobacco and cigars.

In December 2007, Middleton became a wholly-owned subsidiary of Altria Group.

Middleton's Brands

Black & Mild is the best-selling tipped large machine-made cigar in the U.S.

Cigars:

Black & Mild ● Middleton's Cherry Blend ● Gold & Mild ● Prince Albert

Pipe Tobacco:
Apple ● Black & Mild ● Carter Hall ● Middleton's Cherry Blend ● Gold & Mild ● Kentucky Club ● Prince Albert ● Royal Comfort ● Sugar Barrel ● Walnut

Black & Mild Performance

Black & Mild's 2018

full-year volume was

1.59 billion sticks

and year-over-year

growth was

4.1 percent.

Nat Sherman

Nat Sherman is a super-premium cigarette and cigar business founded in New York City in 1930.

The service-centric company has found success with its focus on luxury and quality. Nat Sherman became part of the Altria family of companies in 2017.

Nat Sherman's Brands

Cigarettes:

Classic ● MCD ● Originals

Cigars:

Timeless ● Metropolitan ● Epoca

SMWE

Ste. Michelle Wine Estates is a collection of distinctive estate wineries whose vineyards produce some of the best wines in the world.

The companies that eventually became Ste. Michelle were among the first to make wines and plant classic vinifera varieties in the state of Washington. Today, Ste. Michelle ranks among the top 10 producers of premium wines in the U.S.

Ste. Michelle's Wineries

14 Hands ● Anew ● Borne of Fire ● Canon 13 ● Chateau Ste. Michelle ● Col Solare ● Columbia Crest ● Conn Creek ● Domaine Ste. Michelle ● Drumheller Wines ● Erath ● FlatBed Cidar Co. ● Hawk Crest ● Intrinsic Wine Co. ● Northstar ● Merfo Wines ● Motto ● O Wines ● Patz & Hall ● Prayers of Sinners & Saints ● Red Diamond ● Seven Falls Cellars ● Snoqualmie ● Spring Valley Vineyard ● Stag's Leap Wine Cellars ● Stimson Estate Cellars ● Two Vines ● Villa Mt. Eden

PMCC

Philip Morris Capital Corporation, formed in 1982, is an investment company that manages a portfolio of leased assets including domestic and international aircraft, power plants and real estate.

PMCC focuses on managing its portfolio of leased assets to maximize gains and cash flow from earning assets, as well as asset sales and termination.

Service Companies

ALCS

Altria Client Services provides Altria Group and its companies with high-quality services in a financially disciplined way.

These areas include:

Compliance ● Consumer & Market Insights ● Finance ● Investor Relations & Communications ● Government Affairs ● Human Resources ● Information Technology ● Legal ● Procurement ● Regulatory Affairs

AGDC

Altria Group Distribution Company provides sales, distribution and consumer engagement services to Altria’s tobacco companies.

AGDC focuses on increasing efficiency and helping these companies better connect with adult tobacco consumers and strengthen relationships with thousands of retailers and wholesalers nationwide. The company designs and executes trade programs to grow Altria’s tobacco companies’ businesses and their customers’ businesses.

Strategic Investments

ABInBev

In 2016, Altria strengthened its beer investment by supporting Anheuser-Busch InBev business combination with SABMiller. Our 10.2 percent ownership of AB InBev – now the largest global brewer – provides us with substantial income, cash flow and a strong asset on our balance sheet.

JUUL

In 2018, Altria announced that it signed and closed a $12.8 billion investment in JUUL Labs, Inc., the U.S. leader in e-vapor to accelerate harm reduction and drive growth.³ Altria’s investment represents a 35 percent economic interest in JUUL and JUUL will remain fully independent.

Fueled by its unique and innovative Silicon Valley approach to product development and founded by former smokers, JUUL has rapidly built an industry-leading position by satisfying adult tobacco consumers with its differentiated e-vapor products.

JUUL has quickly grown both revenue and share, and today represents approximately 34% of the total U.S. e-vapor category.⁴ JUUL has a deep innovation pipeline and currently operates in eight countries, with rapid international expansion plans.

Cronos Group

In 2018, Altria announced that it entered into an agreement to acquire a 45 percent equity stake in Cronos Group Inc., a leading global cannabinoid company, headquartered in Toronto, Canada.

This investment positions Altria to participate in the emerging global cannabis sector, which we believe is poised for rapid growth over the next decade. It also creates a new growth opportunity in a category that is adjacent and complementary to our core tobacco businesses.

The transaction is subject to customary closing conditions, including Cronos Group shareholder approval and receipt of regulatory approvals, which will be pursued promptly. The transaction is expected to close in the first half of 2019. At closing, Cronos Group will remain a Canadian publicly-traded company headquartered in Toronto, Canada and continue to be led by its existing management team.

¹Retail share results for cigarettes are based on data from IRI/MSAi, a tracking service that uses a sample of stores and certain wholesale shipments to project market share and depict share trends. This service tracks sales in the food, drug, mass merchandisers, convenience, military, dollar store and club trade classes. For other trade classes selling cigarettes, retail share is based on shipments from wholesalers to retailers (STARS). This service is not designed to capture sales through other channels, including the internet, direct mail and some illicitly tax-advantaged outlets. It is IRI’s standard practice to periodically refresh its services, which could restate retail share results that were previously released in this service.

²Retail share results for smokeless products are based on data from IRI InfoScan, a tracking service that uses a sample of stores to project market share and depict share trends. This service tracks sales in the food, drug, mass merchandisers, convenience, military, dollar store and club trade classes on the number of cans and packs sold. Smokeless products is defined by IRI as moist smokeless and spit-free tobacco products. New types of smokeless products, as well as new packaging configurations of existing smokeless products, may or may not be equivalent to existing MST products on a can-for-can basis. For example, one pack of snus, irrespective of the number of pouches in the pack, is assumed to be equivalent to one can of MST. Because this service represents retail share performance only in key trade channels, it should not be considered a precise measurement of actual retail share. It is IRI’s standard practice to periodically refresh its InfoScan services, which could restate retail share results that were previously released in this service.

³Pending regulatory approvals

⁴Market share based on annual theoretical volume equivalized to cartridges (1 disposable = 1 cartridge = 1mL e-liquid) +~600%. Source: ALCS CMI Estimates based on: IRI MOC; STARS; Capstone; & comScore, ATCT.

At-A-Glance

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National Impact

Annualized Dividends

PM USA’S Br​ands

Cigarette Market Share

​​USSTC'S Brands​

Smokeless Market Share​

Middleton's Brands​

Black & Mild Performance ​