CSL Ltd. — Investor Presentation 2025

Aug 18, 2025

19 August, 2025 Melbourne, Australia

Results Presentation

for the full year ended 30 June 2025

CSL Limited (ASX:CSL; USOTC:CSLLY)

Please find attached the slides for the presentation on the full year results that will be given by the Chief Executive Officer and Chief Financial Officer shortly. The live briefing will be webcast and can be viewed at https://edge.media-server.com/mmc/p/eaiq47e2/

Please note that this link will expire after the webcast concludes.

A recording of the webcast will be made available later in the day at: https://investors.csl.com/investors/financial-results-and-information

Authorised for lodgement by:

Fiona Mead

Company Secretary

==> picture [49 x 49] intentionally omitted <==

==> picture [49 x 49] intentionally omitted <==

Investor Relations Media Relations

Chris Cooper

Brett Foley

Head, Investor Relations Communications CSL Limited CSL Limited P: +61 455 022 740 P: +61 461 464 708 E: chris.cooper@csl.com.au E: media@csl.com.au CSL Limited | ABN 99 051 588 348 | 655 Elizabeth Street, Melbourne VIC 3000

Page | 1

ASX Announcement

==> picture [122 x 108] intentionally omitted <==

Paul McKenzie Joy Linton Chief Executive Officer Chief Financial Officer & Managing Director

2025 Full Year Results 19 August 2025

==> picture [360 x 540] intentionally omitted <==

----- Start of picture text -----

2 Driven by Our Promise
----- End of picture text -----

IMPORTANT NOTICE AND DISCLAIMER

This presentation contains summary information about CSL Limited (ACN 051 588 348) and its related bodies corporate (together, CSL ) and CSL's activities as at the date of this presentation. It is information given in summary form only and does not purport to be complete. It should be read in conjunction with CSL's other periodic corporate reports and continuous disclosure announcements filed with the Australian Securities Exchange ( ASX ), available at www.asx.com.au. This presentation is for information purposes only and is not a prospectus or product disclosure statement, financial product or investment advice or a recommendation to acquire CSL shares or other securities.

No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. To the maximum extent permitted by law, none of CSL or its directors, employees or agents, nor any other person, accepts liability for any loss arising from the use of this presentation or its contents or otherwise arising in connection with it, including, without limitation, any liability from fault or negligence on the part of CSL or its directors, employees, contractors or agents.

This presentation contains forward-looking statements in relation to CSL, including statements regarding CSL's intent, belief, goals, objectives, initiatives, commitments or current expectations with respect to CSL's business and operations, market conditions, results of operations and financial conditions, products in research, risk management practices, climate change and other environmental and energy transition scenarios. Forward-looking statements can generally be identified by the use of words such as "forecast", "estimate", "plan", "will", "anticipate", "may", "believe", "should", "expect", “project,” "intend", "outlook", "target", "assume" and "guidance" and other similar expressions.

The forward-looking statements are based on CSL's good faith assumptions as to the financial, market, risk, regulatory and other relevant environments that will exist and affect CSL's business and operations in the future. CSL does not give any assurance that the assumptions will prove to be correct. The forward-looking statements involve known and unknown risks, uncertainties and assumptions and other important factors, many of which are beyond the control of CSL, that could cause the actual results, performances or achievements of CSL to be materially different to future results, performances or achievements expressed or implied by the statements . Factors that could cause actual results to differ materially include: the success or otherwise of CSL’s research and development activities; factors affecting CSL’s ability to successfully market and sell new and existing products, including decisions by regulatory authorities regarding approval of CSL’s products and regarding label claims, competitive developments affecting CSL’s products, and trade buying patterns; factors affecting CSL’s ability to collect plasma, and difficulties or delays in manufacturing; legislation or regulations affecting the manufacturing, distribution, pricing, or reimbursement of CSL’s products, market access for CSL’s products, environmental protection matters, or tax; litigation or government investigations; fluctuations in interest and currency exchange rates; acquisitions or divestitures; and CSL’s ability to protects its patents and other intellectual property.

Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as at the date of the presentation. Except as required by applicable laws or regulations, CSL does not undertake any obligation to publicly update or revise any of the forward-looking statements or to advise of any change in assumptions on which any such statement is based.

TRADEMARKS

Except where otherwise noted, brand names designated by a or ® throughout this presentation are trademarks either owned by and/or licensed to CSL.

==> picture [74 x 56] intentionally omitted <==

CEO Overview

Paul McKenzie CEO & Managing Director

Driven by Our Promise

3

Agenda

1 2 3

4

5

6

==> picture [104 x 10] intentionally omitted <==

Introduction

FY25 Business Performance Financials Strategic Transformation Intent to Demerge CSL Seqirus Outlook and FY26 Guidance Q&A

==> picture [74 x 56] intentionally omitted <==

4

1

2

3

4

Agenda

Introduction

5

6

==> picture [104 x 10] intentionally omitted <==

FY25 Business Performance Financials Strategic Transformation Intent to Demerge CSL Seqirus Outlook and FY26 Guidance Q&A

==> picture [74 x 56] intentionally omitted <==

5

Strong performance in FY25[1]

Revenue +5% Leverage 1.8x NPATA[2,3] +14% FCF[6] +58% NPAT[3] +17% Dividend[6] +12%*

==> picture [207 x 171] intentionally omitted <==

----- Start of picture text -----

$15,558m
----- End of picture text -----

==> picture [124 x 12] intentionally omitted <==

----- Start of picture text -----

Revenue Growth [1]
----- End of picture text -----

==> picture [118 x 53] intentionally omitted <==

----- Start of picture text -----

CSL Behring +6%
CSL Seqirus +2%
CSL Vifor +8%
----- End of picture text -----

• Final Dividend

==> picture [103 x 9] intentionally omitted <==

Major initiatives announced to drive further value creation

==> picture [72 x 71] intentionally omitted <==

Transformation initiatives

• Distinctive Portfolio Development & Commercialisation operating model

• Targeting annual pre-tax savings >$500m by the end of FY28

• Disciplined reinvestment of savings in high priority growth opportunities

==> picture [72 x 72] intentionally omitted <==

Intent to demerge CSL Seqirus

• Substantial ASX-listed entity in FY26

==> picture [72 x 72] intentionally omitted <==

Capital management

• Multi-year share buyback reintroduced in FY26

==> picture [74 x 56] intentionally omitted <==

6

1

3

Agenda

Introduction

2

4

5

6

==> picture [104 x 10] intentionally omitted <==

FY25 Business Performance Financials Strategic Transformation Intent to Demerge CSL Seqirus Outlook and FY26 Guidance Q&A

==> picture [74 x 56] intentionally omitted <==

7

==> picture [197 x 110] intentionally omitted <==

Revenue $11,158m +6%[1]

	Therapy Revenue ($m) Change1 Ig 6,064 +7% Albumin 1,297 +7% Haemophilia 1,488 +13% Hereditary Angioedema 760 +4% Peri-Operative Bleeding 913 (10%) 8	Highlights Major Brands • PRIVIGEN®/ INTRAGAM®+8%, HIZENTRA®+6% • Six months of Medicare Part D Reform – ~($100 million) impact • Robust demand across all core indications • Solid growth driven by China • IDELVION®remains standard of care, +10% – Leadership position in US, key EU markets and Japan • Increased uptake of HEMGENIX®in US and Europe • First sales of ANDEMBRY®in US and other key markets • HAEGARDA®stable • KCENTRA® (16%) – Sequential growth in second half • Progress on label expansions for KCENTRA® and RiaStap®

==> picture [199 x 110] intentionally omitted <==

Revenue $2,166m +2%[1]

Therapy Revenue ($m) Change1 Egg Based 116 (17%) Cell Culture 474 (12%) Adjuvanted Egg 901 (14%) Pre-Pandemic 197 +235% Pandemic 179 +3% Other (inc in-license) 299 +69%

Highlights Major Brands • Revenue impacted by decline in US vaccination rates • Momentum in US paediatric segment • Received preferential recommendation for FLUAD®in Germany and France for 60+ • Positive ACIP universal influenza recommendation • Seasonal influenza business expected to stabilise in FY26 • Award of over 90% of H5 avian flu contracts globally • Reservation agreements in place with 20 countries • Includes revenue from COVID vaccine distribution partner in Japan

==> picture [103 x 9] intentionally omitted <==

==> picture [74 x 56] intentionally omitted <==

9

==> picture [199 x 110] intentionally omitted <==

Revenue $2,234m +8%[1]

Revenue $2,234m +8%1
Therapy Revenue ($m) Change1 Iron 1,034 +1% Nephrology Dialysis 871 +10% Nephrology Non-Dialysis 267 +34%	Highlights Major Brands
	• Global volume growth • Impacted by generic competition in EU • Increased FERINJECT®sales in China
	• VELPHORO® – Strong growth from inclusion in TDAPA • MIRCERA® – Market leader in US • KAPRUVIA® – Strong performance in European markets b a
	• TAVNEOS® – Excellent uptake in all launch markets • FILSPARI® – Successful launches in Germany, Austria and Switzerland c d

a. Licensed from F. Hoffman-La Roche AG; b. Licensed from Pfizer Inc.; c. Rights to EU, AUS&NZ and certain other countries licensed from Travere Therapeutics, Inc. .; d. Rights to EU, UK, Japan and certain other countries licensed from ChemoCentryx, Inc., a wholly owned subsidiary of Amgen, Inc.

==> picture [103 x 9] intentionally omitted <==

==> picture [74 x 56] intentionally omitted <==

10

1

2

Agenda

Introduction

3

4

5

6

==> picture [104 x 10] intentionally omitted <==

FY25 Business Performance Financials Strategic Transformation Intent to Demerge CSL Seqirus Outlook and FY26 Guidance Q&A

==> picture [74 x 56] intentionally omitted <==

11

Financials

Joy Linton CFO

==> picture [74 x 56] intentionally omitted <==

Driven by Our Promise

12

NPATA[2,3]

==> picture [388 x 328] intentionally omitted <==

----- Start of picture text -----

$3,303m
$84m FX
$3,219m
$2,907m
----- End of picture text -----

FY24 NPATA FY25 NPATA @CC

	FY24	FY25	Change
	Rep	@CC	%1
NPATA	$2,907m	$3,303m	+14%
Acquired intellectual property amortisation	($301m)	($364m)
Other acquisition and disposal adjustments	($84m)	$30m
Tax	$61m	$57m
NPATA Attributable to NCI	$131m	$191m
NPAT	$2,714m	$3,217m	+19%
NPAT Attributable to NCI	($72m)	($131m)
NPATto CSL shareholders	$2,642m	$3,086m	+17%

==> picture [74 x 56] intentionally omitted <==

13

CSL Group Financial Highlights

US$ Millions	FY24 Rep	FY25 Rep	FY25 at CC 1	Change % 1
Total Revenue	14,800	15,558	15,587	5%
Gross Profit4	8,006	8,443	8,509	6%
GP %4	54.1%	54.3%	54.6%
Sales & Marketing4	(1,556)	(1,616)	(1,619)	(4%)
Operating Result4	6,450	6,827	6,890	7%
R&D4 G&A4	(1,428) (825)	(1,359) (1,000)	(1,358) (945)	5% (15%)
Net Interest Expense	(437)	(410)	(409)	6%
NPATA3 ETR %	2,907 19.2%	3,219 15.9%	3,303 16.4%	14%
ROIC	10.5%	11.5%
Cashflow From Ops	2,764	3,561		29%y
Free Cashflow	1,819	2,866		58%y
Capex	(847)	(636)		25%y
NPATA EPS3($) DPS ($)	6.02 2.64	6.65 2.92		10%y 11%y

• Y. At reported currency​

==> picture [103 x 9] intentionally omitted <==

Capital Expenditure for Property, Plant & Equipment

R&D

• Prioritising growth opportunities

• FY26 guidance: ~US$1.35b

G&A

• FY25 in line with guidance

• FY26 guidance: ~US$1.0b

Finance

• Balance Sheet continued to de-lever in FY25

Tax

• FY26 guidance: 18-20% (excl. FX)

Cashflow

• Cashflow from Operations: strong improvement driven by growth in business and working capital management

• Strong increase in free cashflow due to continued reduction in capex

Capex

• FY26 guidance: ~$800m +/- $100m

• Expanding Ig capacity in US over mid-term

==> picture [74 x 56] intentionally omitted <==

14

Segment Financial Highlights

CSL Behring

US$ millions reported	FY24	FY25	Change % at CC 1
Sales	10,334	10,930	6%
Other Revenue Total Revenue Gross Profit4 GP %4 Sales & Marketing4	274 10,608 5,275 49.7% (903)	228 11,158 5,641 51.0%1 (937)	(16%) 6% 8% (4%)
Operating Result	4,372	4,704	9%
Operating Segment %4	41.2%	42.2%

Add Rika + INomi benefits

Continued Gross Margin Improvements

• Optimise donor fees

• • RIKA and I-Nomi

CPL Reduction

• Network efficiencies

• ANDEMBRY[®]

New Products ASP Mix Shift

• HEMGENIX[®]

• • HIZENTRA[®] PFS Change to ANDEMBRY

• HIZENTRA[®] v PRIVIGEN[®]

• • Geographic mix

Ig Yield Improvements

• Horizon 1

• Increased volume

Scale & Efficiency Measures

• Variable v fixed costs

• • Manufacturing efficiencies

Excludes potential benefits of Horizon 2 initiatives

==> picture [103 x 9] intentionally omitted <==

==> picture [74 x 56] intentionally omitted <==

Illustrative only

15

Segment Financial Highlights

CSL Seqirus

CSL Seqirus
US$ millions reported	FY24	FY25	Change % at CC 1
Sales	1,896	1,906	-
Other Revenue	232	260	11%
Total Revenue	2,128	2,166	2%
Gross Profit4	1,318	1,257	(5%)
GP %4	61.9%	58.1%1
Sales & Marketing	(196)	(230)	(19%)
Operating Result4	1,122	1,027	(9%)
Operating Segment %4	52.7%	47.4%

==> picture [103 x 9] intentionally omitted <==

CSL Vifor

CSL Vifor
US$ millions reported	FY24	FY25	Change % at CC 1
Sales	2,029	2,199	8%
Other Revenue	35	35	-
Total Revenue	2,064	2,234	8%
Gross Profit4	1,413	1,545	9%
GP %4	68.5%	69.2%1
Sales & Marketing	(457)	(449)	2%
Operating Result4	956	1,096	14%
Operating Segment %4	46.3%	49.1%

==> picture [74 x 56] intentionally omitted <==

16

Share buyback reintroduced

==> picture [415 x 287] intentionally omitted <==

----- Start of picture text -----

US$b Net Debt/EBITDA
11.0 2.7 x 3.0
2.2 x
2.5
1.8 x
10.0 2.0
1.5
9.0 1.0
0.5
8.0 0.0
FY23 FY24 FY25
Net Debt Net Debt/EBITDA
----- End of picture text -----

==> picture [103 x 9] intentionally omitted <==

• Strong cash flow has significantly de-levered the Balance Sheet

• Sufficient capacity to support investment in growth opportunities

• Multi-year, on-market share buyback as part of refreshed capital management strategy - A$750m (~US$500m) in FY26, expected to progressively increase over the medium-term

• Target leverage range of 1.5x – 2.0x from FY26

==> picture [74 x 56] intentionally omitted <==

17

1

2

3

Agenda

Introduction

4

5

6

==> picture [104 x 10] intentionally omitted <==

FY25 Business Performance Financials Strategic Transformation Intent to Demerge CSL Seqirus Outlook and FY26 Guidance Q&A

==> picture [74 x 56] intentionally omitted <==

18

Strategic transformation to deliver value

==> picture [67 x 77] intentionally omitted <==

----- Start of picture text -----

Reduce
non-clinical
fixed cost
in R&D
----- End of picture text -----

Operating model complexity has increased with growth, against a volatile macro environment

Clear opportunity to improve R&D and commercial productivity and build on our operational efficiencies

==> picture [103 x 9] intentionally omitted <==

Annual pre-tax savings of >$500m by the end of FY28*

A refocused CSL will…

==> picture [628 x 291] intentionally omitted <==

----- Start of picture text -----

Direct savings to
Distinctive accelerate clinical pipeline
operating model and priority programs
Closure of 22
Up to 15%
Optimised R&D expenditure headcount underperforming
reduction plasma centres Be lean and agile
 Footprint from 11 sites to 6 in FY26
Faster time-to-market
Streamline corporate
functions and drive
One-off pre-tax restructuring costs
additional revenue
$700-770m ($400-450m cash) in FY26
growth opportunities
Disciplined reinvestment
of savings in high priority Simplify decision making
growth opportunities
----- End of picture text -----**

==> picture [74 x 56] intentionally omitted <==

*The initiatives are expected to drive annualised cost savings of $500-550 million progressively over the next three years, with the majority achieved by the end of Financial Year 2027.

**A further ~$100 million cash impact is expected in Financial Year 2027

19

1

2

3

Agenda

Introduction

4

5

==> picture [104 x 10] intentionally omitted <==

FY25 Business Performance Financials Strategic Transformation Intent to Demerge CSL Seqirus

Outlook and FY26 Guidance Q&A

==> picture [74 x 56] intentionally omitted <==

6

20

Intention to demerge CSL Seqirus to CSL shareholders

• CSL Seqirus to be demerged, creating an ASX listed global vaccine leader

• Company to be chaired by Mr Gordon Naylor

• The demerger will be subject to third party consents, regulatory approvals and CSL will conduct a voluntary shareholder vote

• Targeting completion before the end of financial year 2026

==> picture [103 x 9] intentionally omitted <==

Strong strategic rationale to enhance shareholder value

Reduces complexity, making businesses more agile and efficient to manage

Reinvigorates focus on core differentiating capabilities

Enables acceleration of transformation and efficiency projects

Autonomy to set strategic direction and capital allocation

Capitalise on potential opportunities that may arise in dynamic markets

==> picture [74 x 56] intentionally omitted <==

21

Two global leaders in healthcare

==> picture [847 x 49] intentionally omitted <==

• Global #1 in ~$38bn plasma protein therapies industry

• Global #2 in ~$7bn influenza vaccine industry with ~~-~~

• attractive long term fundamentals

• Global #1 in ~$5bn iron industry

• ~~-~~

• Leading manufacturer of plasma derived therapies, ~~- -~~

• utilising a best in class, global network of plasma centers

• Highly differentiated and market leading portfolio

• Strong and differentiated clinical pipeline

• • Deep Australian heritage, including supply of products of national significance

• Leading market positions in rare diseases

• Long track record of delivering value to shareholders

==> picture [252 x 186] intentionally omitted <==

----- Start of picture text -----

$13.4bn $5.8bn
FY25 Revenue FY25 Operating Result
FY25 Revenue by Therapy Group
IG
5%
8% Haemophilia
8% Albumin
6% 45% Peri-Operative Bleeding
HAE
7%
Iron
10%
Nephrology
11%
Other
----- End of picture text -----*

==> picture [251 x 184] intentionally omitted <==

----- Start of picture text -----

$2.2bn $1.0bn
FY25 Revenue FY25 Operating Result
FY25 Revenue by Therapy Group
22% Cell Culture
31%
Adjuvanted
Egg Based
Other
5%
42%
----- End of picture text -----*

==> picture [74 x 56] intentionally omitted <==

Note:

• Operating result does not include allocation of group costs.

==> picture [103 x 9] intentionally omitted <==

• **Other comprises: In License, Pre-Pandemic, Pandemic Res Fees and Other Income.

22

1

2

3

4

Agenda

Introduction

5

==> picture [104 x 10] intentionally omitted <==

FY25 Business Performance Financials Strategic Transformation Intent to Demerge CSL Seqirus Outlook and FY26 Guidance Q&A

==> picture [74 x 56] intentionally omitted <==

6

23

Outlook

CSL Behring

CSL Seqirus

• Seasonal influenza revenue to stabilise

• Robust patient demand across multiple areas of high unmet need

• Substantially lower contribution from avian influenza and COVID-19

• HIZENTRA[®] to grow strongly

• Leverage differentiated portfolio

• PRIVIGEN[®] impacted by tender losses in UK and Mexico

• Significant geographic launch opportunities (Germany, France, Korea)

• Building on positive ANDEMBRY[®] launch momentum

CSL Group

• Horizon 1 and 2 yield initiatives progressing to plan

• Reduce fixed cost in R&D and drive pipeline productivity

• Consistent annual increases in Gross Margin through mid-term

• Embed distinctive Portfolio Development & Commercialisation model

CSL Vifor

• Optimise activities across plasma network

• Well-positioned for iron competition

• Streamline corporate costs

• Nephrology launch momentum

• Recommence multi-year share buyback

• • Potential sectoral tariffs unlikely to impact strategic initiatives

• Commercial and medical integration with CSL Behring

Notes:

• Group revenue guidance excluding an incremental ~$100m IRA Part D reform impact ~ 5 – 6% @CC[1]

• -24 NPATA guidance excluding an incremental -$85m post-tax impact from Part D Reform ~ 10 – 13% @CC[1,3 ] ~$3.54 - $3.64b @ CC[1,3]

• FY26 FX impact estimated to be a tailwind of ~$60m if current rates remain unchanged for the remainder of the Financial Year

==> picture [314 x 289] intentionally omitted <==

FY26 Guidance[7]

Revenue Growth ~ 4 - 5% @CC[1] NPATA Growth

(excl. restructuring cost[5] ) ~ 7 – 10% @CC[1,3] to ~$3.45 – $3.55b @CC[1,3]

==> picture [74 x 56] intentionally omitted <==

1

2

3

4

Agenda

5

==> picture [104 x 10] intentionally omitted <==

Introduction FY25 Business Performance Financials Strategic Transformation Intent to Demerge CSL Seqirus Outlook and FY26 Guidance Q&A

==> picture [67 x 50] intentionally omitted <==

6

25

==> picture [122 x 108] intentionally omitted <==

CSL Contacts

Chris Cooper Investor Relations  +61 455 022 740 chris.cooper@csl.com.au Bernard Ronchi Investor Relations  +61 431 060 964 bernard.ronchi@csl.com.au Jimmy Baker Investor Relations  +61 450 909 211 jimmy.baker@csl.com.au

Notes

(#) Constant currency removes the impact of exchange rate movements to facilitate comparability of operational performance for the Group. This is done in three parts: a) by converting the current year net profit of entities in the group that have reporting currencies other than US Dollars, at the rates that were applicable to the prior year (translation currency effect); b) by restating material transactions booked by the group that are impacted by exchange rate movements at the rate that would have applied to the transaction if it had occurred in the prior year (transaction currency effect); and c) by adjusting for current year foreign currency gains and losses. The sum of translation currency effect, transaction currency effect and foreign currency gains and losses is the amount by which reported net profit is adjusted to calculate the operational result.

General Disclaimer Non-IFRS

There are references to IFRS (International Financial Reporting Standards) and non-IFRS financial information in this document. Non-IFRS financial measures are financial measures other than those defined or specified under any relevant accounting standard and may not be directly comparable with other companies’ information. Non-IFRS financial measures are used to enhance the transparency and comparability of a financial report . Non-IFRS financial information should be considered in addition to, and is not intended to be a substitute for, IFRS financial information and measures. Non-IFRS financial measures are not subject to audit or review.

==> picture [103 x 9] intentionally omitted <==

Summary NPAT attributable to members of parent entity

of parent entity
Reportednetprofit after tax	$3,002m
Currency effect	$84m
Constant currency net profit after tax*	$3,086m

Average exchange rates for major currencies for full year ended 30 June 2025/ 30 June 2024 include: USD/EUR (0.92/0.92), USD/AUD (1.55/1.52), USD/CHF (0.87/0.89), USD/CNY (7.21/7.22) and USD/GBP (0.77/0.79).

	Summary NPATA2attributable to
	members of the parent entity	US$m
	Reported net profit after tax	3,002
	Amortisation of acquired intellectual property	295
	Net gain on business disposals	(30)
	Income tax credit on above adjustments	(48)
	NPATA2 attributable to members of the parent entity	3,219
	Currency effect attributable to members of the parent entity	84
	Constant Currency# NPATA2 attributable to members of the parent entity	3,303

Summary Revenue

Summary Revenue
Reported revenue	$15,558m
Currency effect	$29m
Constant currency revenue*	$15,587m

• *Constant currency net profit after tax and constant currency sales have not

• been audited or reviewed in accordance with Australian Auditing Standards.

Footnotes

1. Percentages shown at constant currency to remove the impact of exchange rate movements, facilitating comparability of operational performance. See end note for further detail

2. NPATA is defined as the statutory NPAT before impairment and amortisation of acquired IP and non-recurring items from business acquisition and disposals

3. Attributable to the shareholders of CSL Limited

4. Underlying results have been adjusted to exclude impairment and amortisation of acquired IP and non-recurring items from business acquisition and disposals

6. Pre-tax restructuring costs $700-770m in FY26

7. Reported FX rates

8. Does not incorporate the impact of the potential CSL Seqirus demerger

NPATA to NPAT FY26 outlook

NPATA (excl. restructuring costs) to NPAT adjustments, attributable to:	Group		CSL shareholders (post tax)	CSL shareholders (post tax)
	FY26 Outlook	FY25 at CC	FY26 outlook	FY25 at CC
Restructuring costs	700-770		560-630
Income tax on restructuring costs	(140)-(150)
Amortisation of acquired intellectual property	370+/- 10%	364	260 +/- 10%	251
Net gain on disposal	-	(30)	-	(33)
Income tax on above adjustments	(60) +/- 10%	(57)	-	-
Total	900 +/- 10%	277	850 +/- 7%	217

27

Appendix

==> picture [103 x 9] intentionally omitted <==

==> picture [74 x 56] intentionally omitted <==

28

Appendix A CSL Behring – Key Products

CSL Behring	Therapy Group	Sales $m	Change1%
Privigen	IVIG	3,904	8%
Hizentra	SCIG	2,078	6%
Albumin	Albumin	1,297	7%
Idelvion Kcentra	Haemophilia Peri-operative bleeding	853 592	10% (16%)
Haegarda	HAE	490	-
Berinert	HAE	248	3%
Haemocomplettan	Peri-operative bleeding	242	6%
Humate	Haemophilia	202	10%
Haemate	Haemophilia	138	18%
Hemgenix	Haemophilia	92	189%

==> picture [103 x 9] intentionally omitted <==

FY25 Revenue By Therapy Group $m

		IVIG	$3,986	36%
		SCIG	$2,078	19%
	CSL	Haemophilia	$1,488	13%
	Behring
		Albumin	$1,297	12%
		Peri-Operative Bleeding	$913	8%
		HAE	$760	7%
		Other	$636	5%

==> picture [74 x 56] intentionally omitted <==

29

Appendix B CSL Seqirus & CSL Vifor – Key Products

FY25 Revenue By Therapy Group $m

		Sales	Change
CSL Seqirus	Therapy Group	$m	1%
Fluad	Adjuvanted	901	(14%)
Flucelvax Afluria	Cell culture Egg-based	474 111	(12%) (21%)
		Sales	Change1
CSL Vifor	Therapy Group	$m	%
Ferinject/Injectafer	Iron	766	-
Mircera	Nephrology: Dialysis	567	(8%)
Velphoro Venofer	Nephrology: Dialysis Iron	258 172	137% (2%)
Veltassa	Nephrology: Non Dialysis	144	4%
Tavneos	Nephrology: Non Dialysis	112	86%
Maltofer	Iron	91	11%

==> picture [103 x 9] intentionally omitted <==

==> picture [36 x 85] intentionally omitted <==

Cell Culture $474 22% Adjuvanted $901 42% Egg Based $116 5% CSL Seqirus Pre-Pandemic $197 9% Pandemic $179 8% Other (inc in-license) $299 14% Iron $1,034 46% Nephrology: Dialysis $871 39% CSL Vifor Nephrology: Non Dialysis $267 12% Other $62 3%

==> picture [74 x 56] intentionally omitted <==

30

For more information visit www.CSL.com

R&D Portfolio Highlights – FY25

==> picture [43 x 41] intentionally omitted <==

Immunoglobulins

==> picture [44 x 41] intentionally omitted <==

Cardiovascular & Renal

==> picture [42 x 42] intentionally omitted <==

Vaccines

• Clazakizumab (ESKD)

• HIZENTRA[®] PFS 50mL

• Enrolment ongoing

• JP submission complete

• FDA Phase III DAP submitted

• EU approval complete

  • FILSPARI[®] (Sparsentan) IgAN Full EU approval complete

• Horizon 2

• Toxicology package complete

• Process robustness package complete

==> picture [43 x 41] intentionally omitted <==

==> picture [43 x 38] intentionally omitted <==

Haematology

Transplant & Immunology

• HEMGENIX[® ] Japan Phase III last patient in complete

• ANDEMBRY[®] (Garadacimab; Anti ~~-~~ FXIIa) HAE

• AFSTYLA[® ] China Phase III first patient in • AU, JP, EU, UK, Switzerland & US approved complete

• CSL964 in aGvHD

• RiaSTAP[®] AFD

• Treatment Data presented at TCT Feb 25

• Phase III first patient in complete

• Phase 3 prevention study futility passed

• US submission complete

• Improved fibrinogen manufacturing process EU approval received

• CSL403 (aTIVc)

• UK & EU submissions complete

• QIV to TIV Transition US, EU, UK approval complete

• KOSTAIVE[®] sa-mRNA (COVID)

• JP launch – EU marketing authorization - UK submission

Discontinued Programs

• KCENTRA[® ] Trauma

• HIZENTRA[® ] Dermatomyositis

• HIZENTRA[® ] POTS

• Clazakizumab AbMR

• CSL889 (Hemopexin) VOC in SCD Phase II first patient in (July)

==> picture [103 x 9] intentionally omitted <==

Abbreviations: AFD – Acquired Fibrinogen Deficiency; aTIVc - Adjuvanted Cell-based Trivalent Influenza Vaccine; DAP – Diversity Action Plan; EU – Europe; FDA – Food & Drug Administration; HA – Health Authorities; HAE – Hereditary Angioedema; JP – Japan; IgAN – Immunoglobulin A Nephropathy; PFS – Pre-Filled Syringe; POTS - Postural Orthostatic Tachycardia Syndrome; PK – Pharmacokinetic; PR – Prolonged Release; QIV – Quadrivalent Influenza Vaccine; RNA – Ribonucleic Acid; sa-mRNA – SelfAmplifying messenger RNA; TCT - Transplantation and Cellular Therapy; TIV- Trivalent Influenza Vaccine; UK - United Kingdom; US – United States; VOC – Vaso-occlusive Crisis.

==> picture [74 x 56] intentionally omitted <==

31