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Richardson refused, resigning instead

Following USD3.5bn upfront payment to settle Canadas legal claim and ongoing annual payments (based on 85% of net income after taxes, excluding that generated by alternative nicotine products), its net interest expense could increase modestly in FY25 as its Canadian subsidiary ITCAN is still consolidated in its financials owing to IFRS accounting treatment

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BAT Preliminary Announcement 2025 Summary Performance Review Financial Statements Other Information Data Lake and Reconciliations 35 Notes to the Financial Statements Continued 12