ALTRIA GROUP, INC.

Altria Group, Inc. (NYSE: MO) operates as a leading tobacco company in the United States, with a portfolio of nicotine products designed for adult consumers age 21 and older. The company's website is www.altria.com.

The company operates through three primary reportable segments: smokeable products, oral tobacco products, and e-vapor products. Smokeable products include combustible cigarettes manufactured by Philip Morris USA Inc., the largest cigarette manufacturer in the United States, with Marlboro as its flagship brand that has held the top market position for over 50 years. This segment also includes machine-made large cigars produced by John Middleton Co., with Black & Mild as its principal brand. The oral tobacco products segment encompasses moist smokeless tobacco products manufactured by U.S. Smokeless Tobacco Company LLC under premium brands Copenhagen and Skoal, as well as oral nicotine pouches sold under the on! brand by Helix Innovations LLC. The e-vapor products segment includes products manufactured and sold by NJOY, LLC.

In 2025, the smokeable products segment shipped 61.8 billion cigarette units and approximately 1.8 billion cigar units. The oral tobacco products segment shipped 732.4 million units, while the company maintains a joint venture with Japan Tobacco through Horizon Innovations LLC for heated tobacco stick products commercialization in the United States.

Altria employs approximately 5,900 people as of December 31, 2025, with 26 percent representing hourly manufacturing employees subject to collective bargaining agreements. The company operates primarily within the United States and generates substantially all revenue from domestic customers. The company also holds equity investments in Anheuser-Busch InBev SA/NV and Cronos Group Inc., which are accounted for under the equity method.

The company's business model centers on brand recognition and loyalty, with competition based on product quality, taste, price, innovation, marketing, and distribution. Altria maintains significant intellectual property through registered trademarks and patents, with certain trade secrets material to its operations. The company is subject to extensive federal, state, and local regulations, particularly the Family Smoking Prevention and Tobacco Control Act, which grants the FDA broad authority over tobacco product design, manufacture, and marketing.