Philip Morris International Inc. Launches IQOS 3 DUO

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Company Continues to Pioneer at the Forefront of Technology, Science and Consumer Centricity in Realizing a Smoke-Free Future

LAUSANNE, Switzerland Sep. 26, 2019– Philip Morris International Inc. (PMI) (NYSE: PM) announced today the latest addition to its smoke-free portfolio, IQOS 3 DUO. The continued development of technology exemplified by IQOS 3 DUO—driven by consumer insights and supported by scientific substantiation—represents PMI’s latest step in its journey to achieve a smoke-free future and to strengthen its position as a leader in the smoke-free products category. IQOS 3 DUO will be available in Japan this month and subsequently rolled out in most of the markets where IQOS is currently available by the end of 2019.

“The launch of IQOS 3 DUO affirms our commitment to constantly and continuously investing in the development and commercialization of scientifically-substantiated products that can help the millions of adults who would otherwise continue to smoke to switch,” said Jacek Olczak, chief operating officer of PMI. “These ongoing product updates, innovations and developments are vital in our achievement of a smoke-free future. Today approximately 8 million adults worldwide have switched to IQOS and abandoned cigarettes.”

The latest addition, IQOS 3 DUO, is designed with new features to help adult smokers switch from cigarettes more seamlessly. Featuring the fastest and most powerful holder within the IQOS family, IQOS 3 DUO allows two consecutive uses without recharging the holder, while the holder charging time is much faster1 compared to IQOS 3 and IQOS 2.4+.

PMI has stated its aim that by 2025 at least 40 million smokers of PMI’s cigarettes who would otherwise continue to smoke will have switched to smoke-free products, and that at least 30 percent of its total shipment volume will come from smoke-free products. To date, the company has invested more than 10 years and $6 billion in the scientific research, development and commercialization of its growing portfolio of advanced smoke-free products. Over 400 leading scientists, engineers and experts dedicate their days to the development of and research around smoke-free products.

On average, 70 percent of the smokers who switch to IQOS abandon cigarettes, 2which makes IQOS the most compelling smoke-free alternative today. It is important to note that IQOS is not risk-free and it delivers nicotine, which is addictive.

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