Philip Morris International

Compensatory Arrangements of Certain Officers 1 Equity Awards . Named executive officers of Philip Morris International Inc. (the "Company") receive 40% of their targeted equity award in the form of restricted stock units, or RSUs, and 60% in the form of performance share units, or PSUs. Accordingly, on February 3 2021, the Compensation and Leadership Development Committee of the Board of Directors of the Company (the “Committee”) approved the awards of RSUs and PSUs under the Philip Morris International Inc. 2017 Performance Incentive Plan to the Company's named executive officers in the amounts indicated below, with a grant date of February 4, 2021: Name RSUs PSUs André Calantzopoulos 56,130 84,200 Emmanuel Babeau 19,670 29,500 Martin G. King 7,210 10,820 Jacek Olczak 21,460 32,180 The foregoing awards of RSUs are due to vest on February 21, 2024.

On December 10, 2020, the Board of Directors of Philip Morris International Inc. (the “Company”) announced that Louis C. Camilleri, Chairman of the Board, will retire effective immediately for personal reasons. Lucio A. Noto, the Presiding Director, will serve as an interim Chairman until the 2021 Annual Meeting of Shareholders to be held on May 5, 2021 (the “Annual Meeting”). André Calantzopoulos, who is currently serving as the Company’s Chief Executive Officer, will become Executive Chairman of the Board effective immediately before the Annual Meeting and will remain an employee of the Company. Jacek Olczak, age 55, who is currently serving as the Company's Chief Operating Officer, will succeed Mr. Calantzopoulos as Chief Executive Officer effective immediately after the Annual Meeting. Mr.

On June 11, 2020, Philip Morris International Inc. (the "Company") announced the retirement of Marc S. Firestone, President External Affairs and General Counsel. In connection with Mr. Firestone's retirement, on November 3, 2020, he and Philip Morris Products S.A., a subsidiary of the Company, entered into an Early Retirement Agreement and Release (the "Agreement"), with the following terms: - Mr. Firestone will receive a severance payment of CHF 765,005 (or $ 835,202) 1 , which is determined based on his years of service; - Mr. Firestone’s 2020 incentive compensation award will be based on actual individual and Company performance ratings, pro-rated through October 31, 2020 and paid at the end of February 2021; - Mr.

On June 11, 2020, Philip Morris International Inc. (the Company) announced that Marc S. Firestone, President External Affairs and General Counsel of Philip Morris International Inc. (the Company), decided to retire and that Suzanne Rich Folsom is appointed Senior Vice President and General Counsel of the Company, effective July 1, 2020. Mr. Firestone will continue to lead the Company’s External Affairs Department until his successor is appointed.

On April 30, 2020, Miroslaw Zielinski, Chief New Ventures Officer of Philip Morris International Inc. (the “Company”), announced his decision to take early retirement effective June 30, 2020. In connection with Mr. Zielinski’s early retirement, on April 30, 2020, he and Philip Morris Products S.A. entered into an Early Retirement Agreement and Release (the “Agreement”) with the following terms: - Mr. Zielinski will receive a lump sum cash payment of CHF 2,019,245 (or $ 2,080,509 1 ), which is determined based on his years of service and includes an amount in lieu of his 2020 pro-rated incentive compensation award; - Mr. Zielinski’s restricted share units will vest fully, and his performance share units will vest as scheduled and certified by the Compensation and Leadership Development Committee of the Board; and - Mr.

(b) Departure of Directors. On March 5, 2020, Massimo Ferragamo and Stephen M. Wolf informed the Board of Directors of Philip Morris International Inc. that they will retire from Board service following the completion of their current terms. Therefore, Mr. Ferragamo and Mr. Wolf will not stand for re-election to the Board of Directors of Philip Morris International Inc. at the 2020 Annual Meeting of Shareholders to be held on May 6, 2020. Mr. Ferragamo and Mr. Wolf have served as directors of the Company since 2016 and 2008, respectively. (e) Compensatory Arrangements of Certain Officers. As disclosed in Form 8-K filed on March 2, 2020, Martin G. King will assume the role of CEO, PMI America, effective May 1, 2020.

On March 2, 2020, Philip Morris International Inc. (the “Company”) announced that Emmanuel Babeau, age 53, has been appointed to succeed Martin G. King as Chief Financial Officer, effective May 1, 2020. Mr. King will assume the role of CEO, PMI America, effective May 1, 2020. The change of Mr. King’s role is not a result of any disagreement with the Company on any matter. The compensation of Mr. King in his new role will be determined at a later date. Mr. Babeau has served at Schneider Electric SE, a French multinational corporation specializing in energy and automation digital solutions, in various executive capacities since 2009, most recently, as Deputy CEO in charge of Finance and Legal Affairs. Pursuant to his employment agreement, Mr. Babeau’s compensation will be as follows: • Mr. Babeau will be in salary grade 26; • Mr.

(e) Equity Awards . Named executive officers of Philip Morris International Inc. (the "Company") receive 40% of their targeted equity award in the form of restricted stock units, or RSUs, and 60% in the form of performance share units, or PSUs. Accordingly, on February 6, 2020, the Compensation and Leadership Development Committee of the Board of Directors of the Company (the “Committee”) approved the grants of RSUs and PSUs under the Philip Morris International Inc. 2017 Performance Incentive Plan to the Company's named executive officers in the amounts indicated below: Name RSUs PSUs André Calantzopoulos 53,730 80,600 Marc Firestone 14,610 21,920 Martin G. King 6,660 9,980 Jacek Olczak 19,540 29,300 Miroslaw Zielinski 12,920 19,380 The foregoing awards of RSUs are due to vest on February 15, 2023.

On May 21, 2019, Philip Morris International Inc. announced that Mr. Miroslaw Zielinski, currently, President, Science & Innovation, will assume the role of Chief New Ventures Officer.

(e) Equity Awards . Named executive officers of Philip Morris International Inc. (the "Company") receive 40% of their targeted equity award in the form of restricted stock units, or RSUs, and 60% in the form of performance share units, or PSUs. Accordingly, on February 7, 2019, the Compensation and Leadership Development Committee of the Board of Directors of the Company (the “Committee”) approved the grants of RSUs and PSUs under the Philip Morris International Inc. 2017 Performance Incentive Plan to the Company's named executive officers in the amounts indicated below: Name RSUs PSUs André Calantzopoulos 49,310 73,960 Marc Firestone 15,240 22,850 Martin G. King 6,890 10,330 Jacek Olczak 15,960 23,940 Miroslaw Zielinski 11,430 17,140 The foregoing awards of RSUs are due to vest on February 16, 2022.

Having served as a director of Philip Morris International Inc. since its spin-off in 2008, Dr. Harold Brown retired from Board service effective October 3, 2018.

(e) Equity Awards . Named executive officers of Philip Morris International Inc. (the "Company") receive 40% of their targeted equity award in the form of restricted stock units, or RSUs, and 60% in the form of performance share units, or PSUs. Accordingly, on February 8, 2018, the Compensation and Leadership Development Committee of the Board of Directors of the Company (the “Committee”) approved the grants of RSUs and PSUs under the Philip Morris International Inc. 2017 Performance Incentive Plan to the Company's named executive officers in the amounts indicated below: Name RSUs PSUs André Calantzopoulos 44,100 66,140 Marc Firestone 13,630 20,440 Martin G. King 7,190 10,780 Jacek Olczak 13,010 19,520 Miroslaw Zielinski 12,630 18,940 The foregoing awards of RSUs are due to vest on February 17, 2021.

As previously reported in the Current Report on Form 8-K filed by Philip Morris International Inc. (the “Company”) on September 28, 2017, effective January 1, 2018, Mr. Jacek Olczak, currently Chief Financial Officer, will serve as Chief Operating Officer, and Mr. Martin King, currently President, Asia Region, will serve as Chief Financial Officer. In connection with the appointments, on December 7, 2017, the Board of Directors of the Company made the following compensation decisions effective January 1, 2018: Mr. Olczak - Mr. Olczak will remain at salary grade 26; - Mr. Olczak will receive an annual base salary of CHF 1,020,006 (or $1,031,720 based on the exchange rate at December 7, 2017); - Mr. Olczak’s annual incentive award target will remain at 125% of his annual base salary; and - Mr. Olczak’s stock award target will remain at 275% of his annual base salary.

Philip Morris International Inc. (the “Company”) today announced organizational changes that impact its named executive officers as follows: Jacek Olczak, age 52, currently Chief Financial Officer, is appointed Chief Operating Officer, and Martin King, age 53, currently, President, Asia Region, is appointed Chief Financial Officer. The foregoing changes will be effective January 1, 2018. Messrs. Olczak and King have been employed by the Company in various capacities during the past five years. The compensation of Messrs. Olczak and King in their new roles will be determined by the Compensation and Leadership Development Committee of the Board of Directors at a later date and promptly announced at that time. The Company’s organizational changes are further described in the press release attached as Exhibit 99.1 to this Current Report on Form 8-K and incorporated by reference to this

As described below under Item 5.07, on May 3, 2017, shareholders of the Company approved the 2017 Performance Incentive Plan and the 2017 Stock Compensation Plan for Non-Employee Directors. A summary of the material terms of the 2017 Performance Incentive Plan is set forth under the caption "Approval of the 2017 Performance Incentive Plan" and a summary of the material terms of the 2017 Stock Compensation Plan for Non-Employee Directors is set forth under the caption "Approval of the 2017 Stock Compensation Plan for Non-Employee Directors" in the Company's proxy statement dated March 23, 2017 (the "Proxy Statement"). The summaries are qualified in their entirety by reference to the 2017 Performance Incentive Plan and the 2017 Stock Compensation Plan for Non-Employee Directors, filed as Exhibits B and C, respectively, to the Proxy Statement and incorporated herein by reference.

(e) Equity Awards . Named executive officers of Philip Morris International Inc. (the "Company") receive 40% of their targeted equity award in the form of restricted stock units, or RSUs, and 60% in the form of performance share units, or PSUs. Accordingly, on February 2, 2017, the Compensation and Leadership Development Committee of the Board of Directors of the Company (the “Committee”) approved the grants of RSUs and PSUs under the Philip Morris International Inc. 2012 Performance Incentive Plan (the “Plan”) to the Company's named executive officers in the amounts indicated below: Name RSUs PSUs André Calantzopoulos 41,870 62,800 Marc Firestone 13,000 19,500 Martin King 6,830 10,240 Jacek Olczak 12,940 19,410 Miroslaw Zielinski 8,650 12,980 The foregoing awards of RSUs are due to vest on February 19, 2020.

Election of Directors; Appointment of Certain Officers. On December 6, 2016, the Board of Directors of Philip Morris International Inc. (“the Company”) elected Mr. Massimo Ferragamo to the Board of Directors, effective immediately. Mr. Ferragamo was also elected a member of the Finance and Product Innovation and Regulatory Affairs Committees. The Board of Directors determined that Mr. Ferragamo is an independent director under the New York Stock Exchange listing standards and the Company’s Corporate Governance Guidelines, as well as within the meaning of Rule 10A-3 of the Securities Exchange Act of 1934, as amended. Mr. Ferragamo will be compensated for his service on the Company’s Board of Directors pursuant to the existing non-employee director compensation programs.

(e) In 2015, the Compensation and Leadership Development Committee of the Board of Directors of Philip Morris International Inc. (the “Company”) revised the Company’s variable compensation program to better reflect current market practices and to even more strongly align the longer-term interests of its executives with those of its shareholders. Below is a summary of the awards granted to the Company’s named executive officers on February 4, 2016 under the amended program. Equity Awards . Under the amended program, the Company’s named executive officers receive 40% of their targeted equity award in the form of restricted stock units, or RSUs (also known as deferred stock), and 60% in the form of performance share units, or PSUs.