UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Delaware 1-5759 65-0949535 4400 Biscayne Boulevard Miami, Florida 33137 305-579-8000 (Address, including zip code and telephone number, including area code, of the principal executive offices) FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For The Quarterly Period Ended March 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 VECTOR GRO ...

VECTOR GROUP REPORTS FIRST QUARTER 2024 FINANCIAL RESULTS Continued Strong Earnings Growth in Tobacco Segment First Quarter 2024 Highlights: MIAMI, FL, May 1, 2024 - Vector Group Ltd. (NYSE:VGR) today announced financial results for the three months ended March 31, 2024. FOR IMMEDIATE RELEASE Contact: Columbia Clancy/Catherine Livingston FGS Global 212-687-8080 (U.S.) VectorGroupIR@fgsglobal.com J. Bryant Kirkland III, Vector Group Ltd. 305-579-8000 "Vector Group delivered strong performance in the first qu ...

Table of Contents SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________________________ Form 10-K _____________________________________________ ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For The Fiscal Year Ended December 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 _____________________________________________ VECTOR GROUP LTD. (Exact name of registrant as specified in its ch ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For The Quarterly Period Ended September 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 VECTOR GROUP LTD. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation Commission File Number (I.R.S. Employer Identification No.) incorporation or org ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For The Quarterly Period Ended June 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 VECTOR GROUP LTD. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation Commission File Number (I.R.S. Employer Identification No.) incorporation or organiza ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For The Quarterly Period Ended March 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 VECTOR GROUP LTD. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation Commission File Number (I.R.S. Employer Identification No.) incorporation or organiz ...

Market Position and Sales - For the year ended December 31, 2022, Liggett was the fourth-largest manufacturer of cigarettes in the United States, with domestic shipments of approximately 10.4 billion cigarettes, accounting for 5.4% of the total U.S. cigarette market[18][35]. - The discount segment represented 29.4% of the total U.S. cigarette market in 2022, up from 28.3% in 2021 and 28.6% in 2020[20]. - Liggett's market share in the overall discount market segment increased to approximately 18.5% in 2022, compared to 14.4% in 2021 and 14.2% in 2020[20]. - Liggett's Montego brand became the largest by volume, representing 47% of Liggett's total unit volume sales in 2022, up from 16% in 2021 and 6% in 2020[24]. - Liggett's Eagle 20's brand accounted for 35% of unit volume in 2022, down from 57% in 2021 and 62% in 2020[24]. - Liggett's share of the total domestic cigarette market was 5.4% in 2022, with all sales generated in the discount segment[81]. - Approximately 20% of Liggett's cigarette unit sales in 2022 were menthol flavored, with potential regulatory impacts from FDA's proposed menthol ban[46]. Industry Trends and Regulations - The U.S. cigarette industry experienced a decline of 9.9% in shipments in 2022, with a five-year annual decline of approximately 5.0%[36]. - Liggett and Vector Tobacco face potential declines in cigarette sales due to TCA and FDA regulatory efforts, which could significantly impact financial condition and cash flows[93]. - The California law banning menthol cigarettes became effective on December 21, 2022, following a voter referendum[47]. - FDA plans to publish a proposed rule to reduce nicotine levels in cigarettes to non-addictive levels, with an anticipated publication date changed to October 2023[57]. - Approximately 20% of the company's cigarette unit sales were menthol flavored in 2022, which may be impacted by upcoming FDA regulations[89]. Financial Performance and Obligations - The company anticipates that both Liggett's and Vector Tobacco's payment exemptions under the Master Settlement Agreement will be fully utilized for the foreseeable future[22]. - The MSA requires annual payments of $9.0 billion from Participating Manufacturers, allocated based on domestic cigarette shipment volumes[64]. - Settlement expenses under the Master Settlement Agreement (MSA) were $276,204 for 2022, $171,058 for 2021, and $175,837 for 2020[209]. - The company recorded a liability for goods estimated to be returned, based on sales volumes and historical return rates[201]. - Liggett accrued approximately $11.1 million related to disputed amounts withheld from non-settling states for the years 2004-2010, which may require payment with interest if disputes are lost[100]. - The Mississippi Chancery Court ruled that Liggett owes approximately $16.7 million in unpaid principal under a 1996 settlement agreement, with additional pre-judgment interest of about $18.8 million potentially due[103]. Operational Efficiency and Strategy - The company aims to maximize stockholder value by increasing profitability through strategic marketing and operational efficiency in the discount cigarette segment[16]. - Liggett's manufacturing facility produced approximately 10.1 billion cigarettes in 2022, with a capacity of 17.6 billion cigarettes per year[30]. - The company aims to enhance cash flows and returns through varying levels of leverage and seeks growth in new markets[73]. - Liggett's management acknowledges that harmful physical effects of cigarette smoking have adversely impacted cigarette sales since 1964[41]. Legal and Litigation Risks - As of December 31, 2022, Liggett was involved in 53 individual product liability lawsuits, two class actions, and one health care cost recovery action, with potential punitive damages in the billions[96]. - The company faces potential liabilities from ongoing tobacco-related litigation, which could materially affect its financial position[195]. - The company may incur substantial damages from litigation related to construction defects, personal injury, or property damage, which could adversely affect its financial condition[124]. Real Estate Investments - Liggett's real estate investment business, New Valley, has invested in various real estate projects across different asset classes[68]. - As of December 31, 2022, the company's real estate investments totaled approximately $121.7 million, with specific ventures including $94.0 million in condominium and mixed-use developments[73]. - The company recorded $77.2 million in condominium and mixed-use developments with projected completion dates between March 2023 and April 2025[69]. - The real estate development industry is highly competitive, with risks including increased costs, changes in market demand, and potential impairments in property values[111]. Financial Health and Debt - Total outstanding indebtedness as of December 31, 2022, is $1.44 billion[143]. - Cash interest expense is approximately $107.2 million, and dividends are approximately $127.2 million based on a quarterly cash dividend rate of $0.20 per share[145]. - Significant liquidity commitments require the use of existing cash resources, with potential liquidity needs over the next 12 months[144]. - The company’s ability to pay dividends depends on cash payments from subsidiaries, which are subject to restrictions[151]. Corporate Governance and Conflicts of Interest - The company has agreed to indemnify Douglas Elliman for certain liabilities, which could negatively affect its financial results if obligations are triggered[128]. - The company’s directors and executive officers have overlapping roles with Douglas Elliman, potentially creating conflicts of interest in decision-making[133]. - The distribution of Douglas Elliman's stock is contingent on qualifying as a tax-free transaction; failure to meet this could result in substantial tax liabilities for the company and its shareholders[136]. Cybersecurity and Operational Risks - Cybersecurity incidents pose risks to business operations and could adversely affect the company's reputation and results[153]. - Changes in debt ratings by agencies like Moody's and S&P may affect the cost and terms of future debt financings[149]. - The Tax Act may increase the after-tax cost of debt financings due to limitations on interest expense deductions[150].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For The Quarterly Period Ended June 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 VECTOR GROUP LTD. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation Commission File Number (I.R.S. Employer Identification No.) incorporation or organiza ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For The Quarterly Period Ended March 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 VECTOR GROUP LTD. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation Commission File Number (I.R.S. Employer Identification No.) incorporation or organiz ...

Table of Contents SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________________________ Form 10-K _____________________________________________ ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For The Fiscal Year Ended December 31, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 _____________________________________________ VECTOR GROUP LTD. (Exact name of registrant as specified in its ch ...