Altria completes $2.75B NJOY acquisition; updates 2023 EPS guidance to $4.89-$5.03

ALTRIA GROUP, INC.

Completed acquisition of NJOY for ~$2.75B cash; up to $500M additional contingent on FDA approvals for certain NJOY products.
Funded via $2B term loan, commercial paper and cash; expects $1.7B from PMI by July 15 to repay term loan.
NJOY ACE is only pod-based e-vapor with FDA market authorization; will be marketed by new NJOY LLC led by Shannon Leistra.
Initial ACE expansion in ~70,000 U.S. retail stores representing ~70% of e-vapor volume; distribution via Altria Group Distribution Company.
2023 adjusted EPS guidance raised to $4.89-$5.03 (1-4% growth) including $50M amortization and investments in smoke-free products.

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