Philip Morris Operations a.d. Nis Stock Belgrade S.E.

Philip Morris Operations ad Nis (PMOP) is a Serbia-based company engaged in the tobacco industry. The Company operates one segment, producing and selling cigarettes and tobacco products. The Company is engaged in production and developing and sales of its own brands of cigarettes such as Best, Classic and Drina, as well as distribution of third parties’ tobacco products of such brands as Marlboro, Parliament, Bonds Street, Next, L&M and Philip Morris. As of December 31, 2011, the Company’s major shareholder was Phillip Morris Holdings BV, based in the Netherlands, with an 87.5% stake in the capital of Philip Morris Operations ad Nis.