PMI ACHIEVES FEMALE REPRESENTATION TARGET: 40% OF WOMEN IN MANAGERIAL POSITIONS

NEW DELHI, May 18, 2022 /PRNewswire/ -- Philip Morris International Inc. (PMI) (NYSE: PM) today announced that it has reached its global company-wide target to improve gender balance, ensuring at least 40% female representation in managerial roles by 2022.

Jacek Olczak, Chief Executive Officer at PMI, commented, "I am immensely proud of PMI's vision, commitment, and achievement in ensuring equal opportunities are given to all in the workplace, irrespective of gender. Meeting this target demonstrates that our inclusion and diversity strategy is working. Diverse profiles, backgrounds, and perspectives allow us to make better and more considered decisions as well as contribute to better and more sustainable performance. I firmly believe that a culture of fairness, inclusion, and diversity are crucial to PMI's progress in achieving a smoke-free future and will continue to benefit the company as we become more reflective of our consumer base."

Silke Muenster, Chief Diversity Officer at PMI, noted, "What gets measured really does get done. This was a whole company effort requiring everyone to take responsibility. I am delighted that we have met our target on time but recognize that we still have a long way to go on our diversity, equity, and inclusion journey. With this in mind, we have our next gender representation target: 35% of women in senior roles by 2025."

"Having a truly diverse workforce is an essential part of our goal to achieve a smoke-free future. I am very proud of the progress we have made to date, and I am confident about achieving more in the future."

The new target—35% of women in senior roles by 2025—demonstrates the company's desire to continuously improve gender representation.

The company also announced today that it has been recertified as a global EQUAL-SALARY organization for the second time since 2019 by the independent EQUAL-SALARY Foundation. The recertification verifies that PMI continues to pay female and male employees equally for equal work, in the more than 90 markets where PMI operates.

The EQUAL-SALARY Foundation is an independent, nonprofit organization based in Switzerland. The EQUAL-SALARY certification verifies that organizations have sustainable policies and practices to ensure that they pay their male and female employees equally for equal work.

Commenting on PMI's global recertification, Lisa Rubli, co-CEO of the EQUAL-SALARY Foundation, said, "In today's global economy, best practices are setting the bar for excellence. A major international company getting EQUAL-SALARY globally re-certified is a historical moment, for its more than 89'000 employees, but also for the cause of gender equality all over the world. The energy and commitment of Philip Morris International for equal pay and EQUAL-SALARY's principles is a strong demonstration of the company's willingness to stick to continuous improvement and a message that their certification is absolutely on spot. We are proud of this great achievement!"

More of PMI's achievements and initiatives to more fully reach gender equality include these:

• Addressing gender bias in talent assessments—including in recruitment, performance management, and opportunities for promotion.
• Introduction of global inclusive parental leave guidelines (2020).
• Launching an employee resource group for women to provide a supportive place to inspire and empower women to advance their skills, expand their network and unlock their full potential.
• Launching a women-in-leadership program to support females in leadership positions.

Philip Morris International

Philip Morris International (PMI) is a leading international tobacco company working to deliver a smoke-free future and evolving its portfolio for the long term to include products outside of the tobacco and nicotine sector.

Logo: https://mma.prnewswire.com/media/1798524/Philip_Morris_International_Logo.jpg