Philip Morris International Inc. (PMI) Holds 2013 Annual Meeting of Shareholders

  Philip Morris International Inc. (PMI) Holds 2013 Annual Meeting of

Business Wire

NEW YORK -- May 08, 2013

Regulatory News:

Philip Morris International Inc. (NYSE / Euronext Paris: PM) held its 2013
Annual Meeting of Shareholders today. Louis C. Camilleri, Chairman of the
Board and Chief Executive Officer, addressed shareholders and answered
questions. André Calantzopoulos, Chief Operating Officer, gave the business
presentation, focusing on PMI’s performance since its spin-off in March 2008,
which has seen total shareholder return reach 135% through April 30, 2013.

“I firmly believe that we still have great opportunities to continue to grow
our existing tobacco business through the further expansion of our terrific
brand portfolio, additional investments in consumer-relevant innovation and
communication, the continued roll-out of our commercial approach, judicious
pricing, and a continued focus on efficiency and productivity savings,” noted
Mr. Calantzopoulos, who went on to describe the company’s mid to longer-term
additional growth opportunities of further geographic expansion, reducing the
prevalence of illicit trade and the commercialization of Next Generation

Mr. Calantzopoulos also paid tribute to Louis Camilleri, whom, as previously
announced on March 13, 2013, he succeeded as Chief Executive Officer effective
immediately following the Meeting. He cited Mr. Camilleri’s “passion for the
company, his vision and critical and insightful analysis, his regard for the
well-being and development of our employees, and his devotion to the integrity
and transparency of communications to investors and to enhancing shareholder
value.” Mr. Camilleri will continue to serve as Chairman of the Board.

Stating that “the bulk of our EPS growth this year is expected to occur in the
latter part of the year, and we anticipate a particularly strong fourth
quarter,” Mr. Calantzopoulos reaffirmed the company’s 2013 full-year reported
diluted earnings per share forecast to be in a range of $5.55 to $5.65, versus
$5.17 in 2012, as previously announced on April 18, 2013. Excluding an
unfavorable currency impact, at then prevailing exchange rates, of
approximately $0.19 for the full-year 2013, reported diluted earnings per
share are projected to increase by approximately 10-12% versus adjusted
diluted earnings per share of $5.22 in 2012, calculated as reported diluted
EPS of $5.17, plus a $0.02 per share charge related to discrete tax items and
a $0.03 per share charge related to asset impairment and exit costs.

This forecast excludes the impact of any potential future acquisitions,
unanticipated asset impairment and exit cost charges, changes in currency
exchange rates and any unusual events. The factors described in the
Forward-Looking and Cautionary Statements section of this release represent
continuing risks to these projections.

Matters put before the Meeting were: the nomination for election of thirteen
nominees for director named in the Company’s Proxy Statement; the ratification
of the selection of PricewaterhouseCoopers SA as independent auditors; and,
the approval on an advisory basis of the compensation of named executive
officers as disclosed in the Company’s Proxy Statement. Final voting results
will be included in a Form 8-K that will be filed with the SEC.

An archived copy of the audio webcast of PMI’s Annual Meeting of Shareholders
will be available until 5:00 p.m. ET on Thursday, June 6, 2013 at

Forward-Looking and Cautionary Statements

This press release contains projections of future results and other
forward-looking statements. Achievement of projected results is subject to
risks, uncertainties and inaccurate assumptions. In the event that risks or
uncertainties materialize, or underlying assumptions prove inaccurate, actual
results could vary materially from those contained in such forward-looking
statements. Pursuant to the “safe harbor” provisions of the Private Securities
Litigation Reform Act of 1995, PMI is identifying important factors that,
individually or in the aggregate, could cause actual results and outcomes to
differ materially from those contained in any forward-looking statements made
by PMI.

PMI’s business risks include: significant increases in cigarette-related
taxes; the imposition of discriminatory excise tax structures; fluctuations in
customer inventory levels due to increases in product taxes and prices;
increasing marketing and regulatory restrictions, often with the goal of
reducing or preventing the use of tobacco products; health concerns relating
to the use of tobacco products and exposure to environmental tobacco smoke;
litigation related to tobacco use; intense competition; the effects of global
and individual country economic, regulatory and political developments;
changes in adult smoker behavior; lost revenues as a result of counterfeiting,
contraband and cross-border purchases; governmental investigations;
unfavorable currency exchange rates and currency devaluations; adverse changes
in applicable corporate tax laws; adverse changes in the cost and quality of
tobacco and other agricultural products and raw materials; and the integrity
of its information systems. PMI’s future profitability may also be adversely
affected should it be unsuccessful in its attempts to produce products with
the potential to reduce the risk of smoking-related diseases; if it is unable
to successfully introduce new products, promote brand equity, enter new
markets or improve its margins through increased prices and productivity
gains; if it is unable to expand its brand portfolio internally or through
acquisitions and the development of strategic business relationships; or if it
is unable to attract and retain the best global talent.

PMI is further subject to other risks detailed from time to time in its
publicly filed documents, including the Form 10-Q for the quarter ended March
31, 2013. PMI cautions that the foregoing list of important factors is not a
complete discussion of all potential risks and uncertainties. PMI does not
undertake to update any forward-looking statement that it may make from time
to time, except in the normal course of its public disclosure obligations.

Philip Morris International Inc.

Philip Morris International Inc. (PMI) is the leading international tobacco
company, with seven of the world’s top 15 brands, including Marlboro, the
number one cigarette brand worldwide. PMI’s products are sold in more than 180
markets. In 2012, the company held an estimated 16.3% share of the total
international cigarette market outside of the U.S., or 28.8% excluding the
People’s Republic of China and the U.S. For more information, see


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