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6, June 2018, pp

May the best quality win. Poll Position When surveyed about the RAI/Lorillard/ITG deal, tobacco retailers revealed plenty: 46% expect a negative impact on the cigarette competitive environment post-merger, 26% expect a positive impact and 28% expect no impact.* More than 50% believe ITG will lose cigarette share,* and 48% see a competitive disadvantage for ITG Brands.** About 25% of EDLP participants recently signed up for the program, and nearly 60% believe EDLP participation will grow with the addition of Newport.** 90% see Altrias new Retailer Leader program as a win for Altria.** 45% anticipate increasing shelf space allocations for Reynolds.** Almost 80% dont plan on changing current shelf space allocations for Philip Morris USA (whose parent company is Altria).** Retailers have become more bullish on Newports potential post-merger: They expect the brand to gain nearly 1% additional market share in 2016 (up from a 0.76% prediction in December).*** 61% of retailers describe the relative price gap between premium and deep-discount cigarettes as remaining flat, while 29% say it has widened and 10% say it has narrowed.*** *Wells Fargo Securities Tobacco Talk Retailer Survey, October 2015 **Wells Fargo Securities Tobacco Talk Retailer Survey, December 2015 ***Wells Fargo Securities Tobacco Talk Retailer Survey, January 2016 Members help make our journalism possible

To measure MSNA, the researchers inserted an electrode into the peroneal nerve, which sits below the kneecap, of each participant