PART 01: EXECUTIVE SUMMARY PART 02: SCOPE OF THE REPORT PART 03: RESEARCH METHODOLOGY PART 04: MARKET LANDSCAPE • Market ecosystem • Market characteristics • Market segmentation analysis PART 05: MARKET SIZING • Market definition • Market sizing 2017 • Market size and forecast 2017-2022 PART 06: FIVE FORCES ANALYSIS • Bargaining power of buyers • Bargaining power of suppliers • Threat of new entrants • Threat of substitutes • Threat of rivalry • Market condition PART 07: MARKET SEGMENTATION BY PRODUCT • Segmentation by product • Comparison by product • Modular e-cigarette – Market size and forecast 2017-2022 • Rechargeable e-cigarettes – Market size and forecast 2017-2022 • Disposable e-cigarette – Market size and forecast 2017-2022 • Market opportunity by product PART 08: CUSTOMER LANDSCAPE PART 09: MARKET SEGMENTATION BY DISTRIBUTION CHANNEL • Segmentation by distribution channel • Supermarkets and hypermarkets • Specialist retailers • Convenience stores • Others PART 10: DECISION FRAMEWORK PART 11: DRIVERS AND CHALLENGES • Market drivers • Market challenges PART 12: MARKET TRENDS • Increasing number of people trying to quit smoking • Prominence of private-label brands • Impending Brexit PART 13: VENDOR LANDSCAPE • Overview • Landscape disruption PART 14: VENDOR ANALYSIS • Vendors covered • Vendor classification • Market positioning of vendors • Altria Group • British American Tobacco • Imperial Brands • Japan Tobacco • PHILIP MORRIS INTERNATIONAL MANAGEMENT PART 15: APPENDIX • List of abbreviations Exhibit 01: Parent market Exhibit 02: Market characteristics Exhibit 03: Market segments Exhibit 04: Market definition - Inclusions and exclusions checklist Exhibit 05: Market size 2017 Exhibit 06: Validation techniques employed for market sizing 2017 Exhibit 07: E-cigarette market in the UK – Market size and forecast 2017-2022 ($ mn) Exhibit 08: E-cigarette market in the UK – Year-over-year growth 2018-2022 (%) Exhibit 09: Five forces analysis 2017 Exhibit 10: Five forces analysis 2022 Exhibit 11: Bargaining power of buyers Exhibit 12: Bargaining power of suppliers Exhibit 13: Threat of new entrants Exhibit 14: Threat of substitutes Exhibit 15: Threat of rivalry Exhibit 16: Market condition - Five forces 2017 Exhibit 17: Product – Market share 2017-2022 (%) Exhibit 18: Comparison by product Exhibit 19: Modular e-cigarettes – Market size and forecast 2017-2022 ($ mn) Exhibit 20: Modular e-cigarettes – Year-over-year growth 2018-2022 (%) Exhibit 21: Rechargeable e-cigarettes – Market size and forecast 2017-2022 ($ mn) Exhibit 22: Rechargeable e-cigarettes – Year-over-year growth 2018-2022 (%) Exhibit 23: Disposable e-cigarettes – Market size and forecast 2017-2022 ($ mn) Exhibit 24: Disposable e-cigarettes – Year-over-year growth 2018-2022 (%) Exhibit 25: Market opportunity by product Exhibit 26: Customer landscape Exhibit 27: Segmentation by distribution channel 2017 (%) Exhibit 28: Vendor landscape Exhibit 29: Landscape disruption Exhibit 30: Vendors covered Exhibit 31: Vendor classification Exhibit 32: Market positioning of vendors Exhibit 33: Altria Group – Overview Exhibit 34: Altria Group – Business segments Exhibit 35: Altria Group – Organizational developments Exhibit 36: Altria Group – Geographic focus Exhibit 37: Altria Group – Segment focus Exhibit 38: Altria Group – Key offerings Exhibit 39: British American Tobacco – Overview Exhibit 40: British American Tobacco – Business segments Exhibit 41: British American Tobacco – Organizational developments Exhibit 42: British American Tobacco – Geographic focus Exhibit 43: British American Tobacco – Segment focus Exhibit 44: British American Tobacco – Key offerings Exhibit 45: Imperial Brands – Overview Exhibit 46: Imperial Brands – Business segments Exhibit 47: Imperial Brands – Organizational developments Exhibit 48: Imperial Brands – Geographic focus Exhibit 49: Imperial Brands – Segment focus Exhibit 50: Imperial Brands – Key offerings Exhibit 51: Japan Tobacco – Overview Exhibit 52: Japan Tobacco – Business segments Exhibit 53: Japan Tobacco – Organizational developments Exhibit 54: Japan Tobacco – Geographic focus Exhibit 55: Japan Tobacco – Segment focus Exhibit 56: Japan Tobacco – Key offerings Exhibit 57: PHILIP MORRIS INTERNATIONAL MANAGEMENT – Overview Exhibit 58: PHILIP MORRIS INTERNATIONAL MANAGEMENT – Business segments Exhibit 59: PHILIP MORRIS INTERNATIONAL MANAGEMENT – Organizational developments Exhibit 60: PHILIP MORRIS INTERNATIONAL MANAGEMENT – Geographic focus Exhibit 61: PHILIP MORRIS INTERNATIONAL MANAGEMENT – Segment focus Exhibit 62: PHILIP MORRIS INTERNATIONAL MANAGEMENT – Key offerings

Altria Group British American Tobacco Imperial Brands Japan Tobacco Philip Morris International Management