PM 8-K: Smart Summary

Philip Morris International Inc. disclosed the separation terms for Emmanuel Babeau, who is departing as Group Chief Financial Officer effective August 1, 2026, transitioning to Strategic Advisor to the Group CEO PMI through his Separation Date of March 31, 2027, with Massimo Andolina appointed as his replacement as Group CFO.

• Group Chief Financial Officer Massimo Andolina — appointed to replace Emmanuel Babeau; currently serving as President, Europe Region; effective August 1, 2026

• Emmanuel Babeau — Base salary of CHF 1,260,012 (or $1,563,423) to continue through Separation Date (March 31, 2027); eligible for 2026 annual cash incentive compensation with target value equal to 125% of base salary, subject to continued employment through Separation Date; eligible for RSU portion only (not PSU portion) of 2027 equity award, representing 40% of total 2027 equity award he would otherwise be eligible to receive, subject to Board approval and continued employment through Separation Date; lump sum severance payment equal to one annual base salary of CHF 1,260,012 (or $1,563,423); payment of CHF 393,754 (or $488,570) in lieu of 2027 annual cash incentive compensation pro-rated through Separation Date; total gross Severance Payment of CHF 1,653,766 (combining severance lump sum and amount in lieu of pro-rated 2027 IC); all then-outstanding unvested RSU grants will fully vest on Termination Date (shares subject to 12-month holding period expiring March 31, 2028); 2024 RSU grant vests regularly in February 2027 provided employed at that time; unvested 2025 and 2026 PSU grants vest on respective scheduled vesting dates to extent performance targets are achieved; 2024 PSU grant vests regularly in February 2027 provided employed at that time; no 2027 PSU grant; Severance Payment is conditional on compliance with 24-month worldwide non-competition provision; Separation Agreement includes customary confidentiality and non-disparagement provisions and general release of claims; governed by laws of Switzerland; conversion rate used: CHF 1.00 = $1.2408 as of July 6, 2026

• Group Chief Financial Officer Emmanuel Babeau — transitioning out of CFO role effective August 1, 2026; will remain employed as Strategic Advisor to Jacek Olczak, Group CEO PMI, through Separation Date of March 31, 2027; entered into Separation Agreement and Release with PMI Management Sàrl on July 6, 2026, approved by the Board on July 2, 2026