#101 November 2023 Q3 2023 results Conference call and webcast for investors and analysts GSK gsk.com#2Cautionary statement regarding forward-looking statements This presentation may contain forward-looking statements. Forward-looking statements give the Group's current expectations or forecasts of future events. An investor can identify these statements by the fact that they do not relate strictly to historical or current facts. They use words such as 'anticipate', 'estimate', 'expect', ‘intend', 'will', 'project', ‘plan', 'believe', 'target' and other words and terms of similar meaning in connection with any discussion of future operating or financial performance. In particular, these include statements relating to future actions, prospective products or product approvals, future performance or results of current and anticipated products, sales efforts, expenses, the outcome of contingencies such as legal proceedings, dividend payments and financial results. Other than in accordance with its legal or regulatory obligations (including under the Market Abuse Regulations, UK Listing Rules and the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority), the Group undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Investors should, however, consult any additional disclosures that the Group may make in any documents which it publishes and/or files with the US Securities and Exchange Commission (SEC). All investors, wherever located, should take note of these disclosures. Accordingly, no assurance can be given that any particular expectation will be met and investors are cautioned not to place undue reliance on the forward-looking statements. Forward-looking statements are subject to assumptions, inherent risks and uncertainties, many of which relate to factors that are beyond the Group's control or precise estimate. The Group cautions investors that a number of important factors, including those in this presentation, could cause actual results to differ materially from those expressed or implied in any forward-looking statement. Such factors include, but are not limited to, those discussed under Item 3.D 'Risk factors' in the Group's Annual Report on Form 20-F for the full year (FY) 2022. Any forward-looking statements made by or on behalf of the Group speak only as of the date they are made and are based upon the knowledge and information available to the Directors on the date of this presentation. A number of adjusted measures are used to report the performance of our business, which are non-IFRS measures. These measures are defined and reconciliations to the nearest IFRS measure are available in the Q3 2023 earnings release and Annual Report on Form 20-F for FY 2022. All guidance, outlooks, ambitions and expectations should be read together with the guidance, assumptions and cautionary statement in the Q3 2023 earnings release and the 2022 Annual Report. Basis of preparation: On 18 July 2022, GSK plc separated its Consumer Healthcare business from the GSK Group to form Haleon, an independent listed company. Comparative figures have been restated on a consistent basis. Earnings per share, Adjusted earnings per share and Dividends per share have been adjusted to reflect the GSK Share Consolidation on 18 July 2022. GSK 2#3Agenda Strong and sustained performance heading into 2024 Emma Walmsley Innovation Dr Tony Wood Performance Luke Miels, Deborah Waterhouse and Julie Brown Summary Emma Walmsley GSK Q&A Emma Walmsley, Tony Wood, Luke Miels, Deborah Waterhouse, Julie Brown, David Redfern 3#4Strong and sustained performance heading into 2024 Emma Walmsley, Chief Executive Officer GSK 4#5Clear momentum driving strong year-to- date performance Delivered 13%¹ sales growth, 14%¹ adj. operating profit growth Profitable, resilient growth across portfolio: Vaccines +21%¹ Specialty Medicines +14% General Medicines +5% New products launched since 20172 delivered £7.8 billion year to date, with c.80% from Vaccines and Specialty Q3 2023 performance Sales £8.1bn, +10% +16%' Adj. EPS 50.4p, +17% +25% Adj. operating profit £2.8bn, +15% +22% Dividend per share 14p Full-year 2023 guidance: upgraded¹ Sales growth: 12-13% Adj. operating profit growth: 13-15% Adj. EPS growth: 17-20% 1 GSK Absolute values at actual exchange rates (AER); changes at CER, unless stated otherwise. 1. Excluding COVID-19 solutions 2. Product approvals since 2017 include: Zejula, Trelegy. Shingrix, Juluca, Dovato, Duvroq, Rukobia, Blenrep, Cabenuva, Jemperli, Apretude, Arexvy 5#6Spotlight on prevention: Vaccines are a strong, durable growth business Launched world's first RSV vaccine, £709m in Q3 AREXVY (RESPIRATORY SYNCYTIAL VIRUS VACCINE, ADJUVANTED) • Approved in US, EU, Canada, Japan Positive data in 50-59-year-old adults. Shingrix £825m +15% in Q3 100% efficacy in large, study in China Partnership with Zhifei expands potential in China Launched in 39 countries. 回 SHINGRIX (ZOSTER VACCINE RECOMBINANT, ADJUVANTED) Large vaccines pipeline with outstanding capabilities in technology platforms 18 vaccines in clinical development • Substantial innovation and comprehensive suite of vaccine platform technologies, including next-generation mRNA and MAPS GSK 6#7Trust: Delivering health impact sustainably For health impact, shareholder returns and thriving people Six priority areas to build trust Key highlights Global health and health security New research published in Science showed that a naturally occurring bacterium discovered by GSK scientists could be the basis for new anti- malarial interventions Access Global health and health security Environment Diversity, equity and inclusion Product governance Ethical standards GSK Environment Published updated plan for nature in line with the goal of the Global Biodiversity Framework to halt and reverse biodiversity loss by 2030 Diversity, equity and inclusion Launched new, multi-year fund focused on advancing community engagement for gender equality in Africa 7#8Innovation Dr Tony Wood, Chief Scientific Officer GSK 8#9Focused on core therapy areas Two thirds of our R&D portfolio prevents and treats infectious diseases and HIV Infectious Diseases HIV Respiratory/ Immunology Oncology Arexvy MenABCWY Pneumococcal 24-valent mRNA Seasonal influenza/COVID-19 Shingrix GSK3943104 (Herpes simplex virus) GSK4348413 (gonorrhoea) gepotidacin Brexafemme Long-acting and ultra-long-acting N6LS (bNAb¹) 3rd generation INSTI² Capsid inhibitor depemokimab camlipixant Nucala (COPD³) GSK4532990 (NASH4) Ojjaara Jemperli cobolimab CD226 axis GSK3858279 (osteoarthritis pain) GSK1070806 (atopic dermatitis) tebipenem bepirovirsen Enabled by advanced technology and data platforms with targeted business development GSK Note: select pipeline programmes shown 1. Broadly neutralising antibody 2. Integrase strand transfer inhibitor 3. Chronic obstructive pulmonary disease 4. Non-alcoholic steatohepatitis a#10Delivering important new data to prevent infectious disease Arexvy: phase III trial demonstrated non-inferiority in adults 50-59 compared to adults ≥60 years of age Co-primary end points met. Humoral response non-inferior in populations with or without comorbidities Day 31 per protocol set for humoral RSV-A Cohort 2 (≥60) divided by Cohort 1a (50-59) Cohort 2 (≥ 60) divided by RSV-B Cohort 1a (50-59) 0.5 GMT Ratio (with comorbidities associated with RSV-LRTD) 1.0 1.5 GMT Ratio RSV-A Cohort 2 (≥ 60) divided by Cohort 1b (50-59) RSV-B Cohort 2 (≥ 60) divided by Cohort 1b (50-59) (without comorbidities associated with RSV-LRTD) 0.5 1.0 1.5 GMT Ratio (95% CI) 0.84 (0.73, 0.96) 0.82 (0.72, 0.93) 2.0 GMT Ratio (95% CI) 2.0 0.95 (0.83, 1.09) 0.90 (0.79, 1.03) Success Criteria: Upper limit of 2-sided CI for GMT ratio is ≤1.5 Cohort 1a: Adults 50-59 with comorbidities associated with RSV-LRTD; Cohort 1b: Adults 50-59 without comorbidities associated with RSV-LRTD; Cohort 2: Adults ≥ 60 YOAGMT, geometric mean titer; CI, confidence interval; LRTD, lower respiratory tract disease; Preliminary data; RSV response evaluated using NAb (ED60); ED60, serum estimated dilution inducing 60% inhibition in plaque-forming units; Nab, neutralizing antibody Shingrix. new data demonstrate 100% vaccine efficacy in the prevention of shingles in adults aged 50 and over in China • Herpes zoster virus (shingles) 6 million cases in China each year² ZOSTER-076 phase IV trial³ evaluated the prophylactic efficacy and safety of Shingrix in preventing shingles in adults aged 50 and over in China No cases of shingles were reported among the participants who received Shingrix; vaccine efficacy was 100% (95% CI: 89.82%-100%) The safety profile observed in this trial was consistent with the established safety profile of the vaccine Q4 2023: peer-reviewed scientific publication Q4 2023: regulatory submission of sBLA GSK 1. Supplementary Biologics Application 2. Zhang Z et al. The incidence of herpes zoster in China: A meta-analysis and evidence quality assessment. Hum Vaccin Immunother. 2023;19(2):2228169 3. The trial included almost 6,000 participants randomised 1:1 to the RZV or placebo group and followed in an observer-blind design. No cases of shingles were reported among the participants who received RZV, compared to 31 cases in the placebo arm. 10#11Bepirovirsen a triple-action antisense oligonucleotide Providing patients with a potential functional cure for chronic hepatitis B B-Together: positive phase IIb results demonstrated proof of concept Hepatitis B virus >300 million people living with HBV1 . Viral infection of the liver that can cause both acute and chronic liver disease² Chronic Hepatitis B (CHB) is a long- lasting infection and occurs when the body's immune system is unable to fight off the virus and it persists in the blood and liver³ Diagnosis rates remain low - in US and Europe only ~25% of infections are diagnosed. Even when treated, cure rates are very low. Proportion of participants with response to treatment, % All (N=108) Baseline HBsAg ≤3000 IU/mL (N=68) Baseline HBsAg ≤1000 IU/mL (N=34) 80 70 60 50 40 30 20 20 10 O Peg-IFN EOT virologic (Week 48) 24 weeks post end of sequential EoT (Week 72) BPV EoT virologic response (Week 12) Peg-IFN EOT virologic response (Week 36) response BPV EoT virologic response (Week 24) 24w BPV+24w Peg-IFN 12w BPV + 24w Peg-IFN 24 weeks post end of sequential EOT (Week 60) H2 2023: B-Sure long-term durability of sustained virologic response data presented as a late-breaking abstract at AASLD GSK 2. World Health Organization. Hepatitis B. Accessed October 2023. Available at: https://www.who.int/news-room/fact-sheets/detail/hepatitis-b 1. Hepatitis B virus Hepatitis Report, 2017 3. World Health Organization. Global 11#1267 assets in clinical development: upcoming pipeline catalysts Infectious Diseases Respiratory/Immunology Opportunity driven HIV Oncology Regulatory decision H2 2023 HT 2024 H2 2024 Jemperli³: RUBY, DMMR/MSI-H 1L EC4 Ojjaara: MOMENTUM, myelofibrosis EU EU, JP Arexvy. 50-59 YOA Nucala: CRSwNP2 Nucala: severe asthma US, EU, JP CN 220 1/152525 JP Regulatory submission and Arexvy: 50-59 YOA¹ Nucala: CRSWNP² US, EU, JP MenABCWY vaccine 1st Gen CN acceptance Jemperli³: RUBY (Part 2), 1L EC4 Jemperli³: RUBY (Part 1), 1L EC4 US, EU US, EU gepotidacin: EAGLE-2/3, uUTI10 US depemokimab: SWIFT-1/2, asthma depemokimab: ANCHOR-1/2, CRSWNP Nucala: MATINEE, COPD" Late-stage phase Ill and phase II readouts GSK gepotidacin: EAGLE-1, GC5 depemokimab: SWIFT-1/2, asthma Blenrep: DREAMM-7, 2L+ MM6 Jemperli: RUBY (Part 2), 1L EC4 Jemperli: RUBY (Part 1), 1L EC4 Zejula': FIRST, IL maintenance OC depemokimab: ANCHOR-1/2, CRSWNP² Nucala: MATINEE, COPD" cobolimab³: COSTAR, 2L NSCLC12 Blenrep: DREAMM-8, 2L+ MM6 Zejula': ZEAL, IL maintenance NSCLC 12 linerixibat: GLISTEN, PBC13 MenABCWY vaccine 2nd Gen US US US US 5 5 5 5 1. Years of age 9. Phase II 10. Uncomplicated urinary tract infection 2. Chronic rhinosinusitis with nasal polyps 3. Tesaro asset 4. Endometrial cancer 11. Chronic obstructive pulmonary disorder 5. Urogenital gonorrhoea 12. Non-small cell lung cancer 6. Multiple myeloma 7. Overall survival population 8. Ovarian cancer 13. Treatment of cholestatic pruritus in primary biliary cholangitis 12#13Performance: growth drivers Luke Miels, Chief Commercial Officer Deborah Waterhouse, CEO, ViiV Healthcare and President, Global Health GSK 13#14Delivering growth across portfolio Q3 2023: positive performance across Vaccines and Specialty Medicines and all regions Sales contribution by product area¹ Sales contributions by region¹ Sales (Em) Specialty Medicines Vaccines 9,000 8,000 +7% 7,000 6,000 5,000 4,000 3,000 2,000 1,000 GSK Q3 2022 US Europe International ■General Medicines 9,000 +16% 8,000 +7% -2% 7,000 6,000 +17% Sales (£m) 5,000 4,000 3,000 2,000 +34% 1,000 Q3 2023 Absolute values at AER; changes at CER, unless stated otherwise 1. Excluding COVID-19 solutions +16% +17% +5% +19% 0 Q3 2022 Q3 2023 14#15Vaccines: +34% with strong Arexvy launch contributing £709m AREXVÝ* (RESPIRATORY SYNCYTIAL VIRUS VACCINE, ADJUVANTED) 83m adults age 60+ in US; 400m globally Launches underway in US, Europe and Canada; approval in Japan >60% US retail market share ~50% of doses co-administered with flu vaccines Available in all major US retail pharmacies 94.6% efficacy in comorbid population resonating well with 66% of HCPs², recalling Arexvy by name³ ~1.4 million US adults vaccinated during Q3 TRX (m) 1.4 Arexvy US TRX since launch 1.2 1 0.8 0.6 0.4 0.2 0 31 32 33 34 35 36 37 38 39 Week number Arexvy Competitor GSK Absolute values at AER; changes at CER, unless stated otherwise 1. Excluding COVID-19 solutions 2. Healthcare Professionals 3. US HCP RSV ATU: Jun 22 (n=260), Jun 23 (n=147), Jul 23 (n=145), Aug 23 (n=149) 15#16Vaccines: Strong Shingrix momentum driven by geographic expansion 60% 50% 40% 30% SHINGRIX (ZOSTER VACCINE RECOMBINANT, ADJUVANTED) 50% of Shingrix sales now ex-US Q3: £825m +15% US: 33% market penetration; strategic targeting to access next tranche of customers Now in 39 countries, most with <3% penetration China: Zhifei to co-promote Shingrix with >30k points of vaccination 20% 10% 0% Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 EU + International GSK Absolute values at AER; changes at CER, unless stated otherwise 16#17Specialty Medicines: +17% with durable growth drivers Strong contributors across portfolio Benlysta +20%: growth across all major markets; updated EULAR guidelines recommend earlier use Nucala +19%: first and only biologic approved in four EOS-driven diseases; COPD data in 2H 2024 Jemperli +>100%: launched in 1L DMMR/MSI-H primary advanced or recurrent endometrial cancer Zejula +22%: launch of consumer- friendly tablet formulation; stock expected to be utilised by year end Ojjaara: line-agnostic label meets unmet need First and only treatment indicated for myelofibrosis patients with anaemia in US 25k people in US diagnosed, >40% anaemic at diagnosis Nearly all patients are estimated to develop anaemia over the course of the disease. Launch underway in market with limited existing options for patients a Survival Ojjaara (momelotinib) Impact of anaemia in primary myelofibrosis² Mild anemia N-384; median survival 4.9 years Severe anemia: -vs Moderate anemia P<0.0001 -vs Mild anemia P<0.0001 -vs No anemia P<0.0001 Moderate anemia: -vs Mild anemia P<0.0001 -vs No anemia P<0.0001 Mild anemia: -vs No anemia P=0.007 No anemia N-159; median survival 7.9 years Moderate anemia N=159; median survival 3.4 years Severe anemia N-407; median survival 2.1 years P<0.0001 15 20 25 30 35 GSK Absolute values at AER; changes at CER, unless stated otherwise 1. Excluding COVID-19 solutions 2. Nicolosi, M., Mudireddy, M., Lasho, T.L. et al. Sex and degree of severity influence the prognostic impact of anemia in primary myelofibrosis: analysis based on 1109 consecutive patients. Leukemia 32, 1254-1258 (2018). https://doi.org/10.1038/s41375-018-0028-x 17#18General Medicines: anticipate low to mid single-digit growth in 2023 General Medicines -2% in line with expectations Trelegy +23%: most prescribed SITT worldwide: on track to deliver over £2bn in 2023 Post-pandemic recovery: EU and International antibiotic market recovering RAR impact: Q3 growth negatively impacted by 6 percentage points Trelegy: growth opportunity remains for SITT class in US Single inhaler triple therapy is the fastest-growing maintenance therapy for COPD & asthma² Trelegy is the fastest-growing triple therapy for COPD & asthma² Trelegy is the market leader in the COPD & asthma triple class² Trelegy Q3 2023 sales since launch 600 M 500 M 400 M 300 M 200 M 100 M 0 M Q3 2018 Q3 2019 Q3 2020 Q3 2021 Q3 2022 Q3 2023 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% COPD patient class share in US² Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 39% 38% 28% 10% 3% GSK 18 Absolute values at AER; changes at CER, unless stated otherwise 1. IQVIA MIDASⓇ monthly data, since launch up to (and including) Aug 2023, reflecting estimates of real-world activity 2. Information licensed from IQVIA: National Custom Patient Report utilizing LRx, Dx data assets for the period Jun 2022 to August 2022 reflecting estimates of real-world activity May-23 Jun-23 Jul-23 Aug-23 ICS/LABA ICS MITT SITT Triple#19HIV: 15% growth in Q3 primarily driven by oral 2DR and long-acting regimens Strong execution across HIV oral 2DR and long-acting regimens portfolio Sales £m 1000 60% 53% 51% 46% 47% 50% 42% 39% 36% 33% 600 28% 25% 26% 800 400 200 0 ΟΙ 2021 Dovato Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2021 2021 2021 2022 2022 2022 2022 2023 2023 2023 Cabenuva Juluca Apretude 40% 30% 20% 10% 0% Oral 2DR & LA Oral 2DR & LA sales as a % of total HIV sales Growth driven by oral 2DR and long-acting regimens . • • • • Sales: £1.6bn in Q3 with all regions driving growth FY 2023: Growth outlook upgraded to circa 10% Dovato: £477m - leading oral 2-drug regimen Dolutegravir: Paediatric exclusivity confirmed in US Cabenuva: £182m - increasing HCP confidence, new SOLAR data. Regimen approved in China Apretude: £37m - EU approval granted in September 2023 Pipeline: target dosing intervals for LA regimens extended to every four months in treatment and prevention with roadmap to reach every six months by end of decade GSK 1. Two drug regimen 19#20Performance: financial results Julie Brown, Chief Financial Officer GSK 20 20#21Investor roadmap to end of 2024 Execution Pipeline Phase III and regulatory decisions² • Q2 2023 Q2 and Half-year 2023 results Full-year 2023 upgraded guidance く Therapy Area Strategy R&D priorities Arexvy US KK regulatory approval ☑ Arexvy second Q3 2023 Q3 and Year-to-date 2023 results Arexvy RSV, ≥60 YOA (JP) Arexvy, RSV, 50-59 YoA Q4 2023 Full-year and Q4 2023 results Performance vs BIU 20211 Full-year 2024 guidance Apretude, HIV pre-exposure (EU) Vocabria, HIV treatment (CN) Ojjaara, MOMENTUM, myelofibrosis (US) Jemperli RUBY, 1L DMMR/MSI-H EC³ (US) season data BELLUS Health, Inc. acquisition Capital Allocation completed SCYNEXIS, Inc. exclusive license completed Capital allocation R&D and BD priorities TA priorities Investor Engagement Meet the management, Infectious Diseases GSK 1. June 2021 Investor Update 4. Overall survival population Π ☑ > > Meet the management, HIV ☑ Full-year 2023 dividend declaration KKKKKK HT 2024 • Q1 2024 results • Q2 and Half-year 2024 results • H2 2024 Q3 and Year-to-date 2024 results Full-year and Q4 2024 results Performance vs BIU 20211 • Guidance 2025 • • • • . • • Jemperli: RUBY, 1L DMMR/MSI-H EC³ (EU) Ojjaara: MOMENTUM, myelofibrosis (EU, JP) gepotidacin: EAGLE-1, GC depemokimab: SWIFT-1/2, asthma Blenrep: DREAMM-7, 2L+ MM Jemperli: RUBY (Part 2), 1L EC³ Jemperli: RUBY (Part 1) 1L OS4 EC3 Zejula: FIRST, IL maintenance OC ovarian cancer • Arexvy: RSV, 50-59 YOA (US, EU, JP) • Nucala: CRSwNP (JP) • Nucala: severe asthma (CN) depemokimab: ANCHOR-1/2, CRSWNP Nucala MATINEE, COPD cobolimab: COSTAR, 2L NSCLC Blenrep: DREAMM-8, 2L MM Zejula: ZEAL, 1L maintenance NSCLC linerixibat: GLISTEN, PBC5 Meet the management, Oncology Roadshows Meet the management, Respiratory Medical congresses 2. Includes phase III data readouts and regulatory decisions with the applicable geography denoted in brackets 5. cholestatic pruritus in primary biliary cholangitis Full-year 2024 dividend declaration 3. Endometrial cancer 21#22Delivered a very strong Q3 2023 financial performance Key commentary Q3'22 Q3'23 AER CER Adjusted results £m £m % % Sales 7,829 8,147 4 10 Cost of sales (2,214) (2,073) (6) (4) Sales grew +16% excluding COVID-19 solutions Benefit from lower sales of lower margin Xevudy and favourable mix Gross profit 5,615 6,074 15 Gross profit margin 71.7% 74.6% +280 bps +360 bps +80 bps excluding COVID-19 solutions Selling, general and administrative (1,968) (2,185) 11 17 SG&A growth +14% excluding COVID-19 solutions Research and development (1,297) (1,429) 10 14 Primarily late-stage Vaccines, ID and HIV therapy areas Royalties 255 312 22 23 Benefit from Gardasil, Kesimpta and Biktarvy Operating profit 2,605 2,772 15 OP grew +22% excluding COVID-19 solutions Operating profit margin 33.3% 34.0% +80 bps +170 bps Q3'22 Q2'23 AER CER Total results Total operating profit £m £m % % 1,191 1,949 64 83 Total operating profit margin 15.2% 23.9% 870 bps 1,010 bps GSK Adjusted results for continuing operations unless stated otherwise; some figures may not sum due to rounding. See page 19 of GSK's third quarter 2023 earnings release for a full reconciliation of Total to Adjusted results 22 22#23Improved Q3 2023 adj. operating margin by 170 bps at CER Improved by 180 bps at CER excluding COVID-19 solutions 33.3% 3.6% 1.7% +1.7% 35.0% 0.6% 0.4% 1.0% 34.0% Q3'23 margin at 22 FX Currency Q3'23 margin at 23 FX Q3'22 margin Key drivers COGS Lower COGS due to lower sales of lower margin Xevudy, favourable product mix SG&A Investment for growth behind key products, incl Arexvy launch, Shingrix global expansion, HIV LAIS and Ojjaara launch R&D Increased investment in late-stage, within therapy areas of focus Royalties Benefit from Gardasil, Kesimpta and Biktarvy royalties GSK 1. Long-acting injectables; chart may not sum due to rounding 23 23#24Q3 2022 £m 2.605 Net finance expense (177) Improved adj. earnings per share, with 17% CER growth Adj. operating profit (OP) Key commentary +15% at CER, +22% (at CER excluding COVID-19 solutions) Lower bond interest costs and higher interest income Q3 2023 £m 2,772 (156) Share of associates (1) Ταχ (402) (404) Tax rate 16.6% 15.4% Non-controlling interests (135) (169) Timing of tax settlements relative to Q3 2022 NCIS allocation of higher ViiV Healthcare profits Profit attributable to shareholders 1,890 2,043 Adj. earnings per share (EPS) 46.9p 50.4p +17% at CER, +25% (at CER excluding COVID-19 solutions) Total EPS 18.8p 36.1p +>100% at CER Weighted average number of shares (millions) 4,030 4,055 GSK Adjusted results and for continuing operations unless stated otherwise 24#259M 2023 free cash flow of £1.3bn Cash generated from operations of £4.4bn £m 9M 2022 £m 9M 2023 Adj. operating profit 6,556 7,034 Decrease/(Increase) in working capital (667) (2,669) Key drivers of cash flow Gilead Science, Inc. settlement income 927 Other CGFO1 (973) 50 Cash generated from operations 5,843 4,415 Taxation paid (1,110) (843) Net capex² (1,368) (1,528) Lower cash generated from operations, including: Q1 2022 upfront income from Gilead Science, Inc. settlement (£0.9bn); Increased trade receivables: Arexvy sales (Q4 collection) and lower Xevudy collections; Partly offset by RAR payment timing benefits Other³ (912) (730) Lower taxation, relative to higher Q3 2022 tax payments Free cash flow 2,453 1,314 Net debt GSK 18,436 17,589 1. Cash generated from operations, including changes in working capital, Significant Legal payments and operating contingent consideration liability 2. Net Capex includes purchases less disposals of property, plant and equipment and intangibles 3. Other includes net interest paid, income from associates and JVs and dividends to Non-Controlling Interests 25 25#262023 guidance at CER upgraded (excl. COVID-19 solutions) 2023 guidance 2023 sales guidance composition Vaccines Around 20% growth Sales Adj. operating profit Adj. earnings per share 12% to 13% growth Previously 8% to 10% growth 13% to 15% growth Previously 11% to 13% growth 17% to 20% growth Previously 14% to 17% growth Speciality Medicines¹ Low double-digit % growth HIV Around 10% growth General Medicines Low to mid single-digit % growth 2023 Arexvy considerations Q3 sales of £709m benefited from strong demand and initial channel inventory build, with TRx volumes representing ~1/3 volumes sold Correlation between influenza and RSV vaccination to date Expect full year sales of around £0.9-1bn, with further insight to be gained at the end of the 'flu season If exchange rates were to hold at the closing rates on 30 Sep 2023 ($1.23/£1, €1.16/£1 and Yen 183/£1) for the rest of 2023, the estimated impact on full-year 2023 Sterling turnover growth would be -2% and the estimated impact on Adjusted Operating Profit growth would be -4%. GSK All guidance, outlooks, ambitions and expectations should be read together with the guidance, assumptions and cautionary statement in the Q3 2023 earnings release and the 2022 Annual Report. 1. including HIV 26 26#27A focused global biopharma company with clear momentum that is delivering GSK Strategy focused on prevention and treatment to get ahead of disease together World leader in infectious disease with a broader pipeline based on science of the immune system Highly attractive medium-term¹ target for sales and adjusted operating profit CAGR² Innovation progress underscores confidence in ability to sustain profitable growth through the decade and beyond GSK 1. Medium-term is 2021-2026, excluding COVID-19 solutions 2. Compound annual growth rate at constant exchange rates (CER) 27 22#28GSK Q&A 28#29Appendix GSK 29#302023 full year outlook considerations to support modelling Vaccines turnover Increase around 20%, excluding pandemic adjuvant sales Shingrix to increase mid-teens % Arexvy between £0.9bn and £1.0bn Flu to decrease around 25 to 30% Meningitis to increase mid-teens % Established Vaccines to increase high single-digit % Turnover to adj. operating profit items COGS: to increase at a rate broadly aligned to turnover SG&A: to increase at a rate broadly aligned to turnover R&D: to increase at a rate slightly below turnover Royalties: around £900m GSK adj. operating profit is expected to increase between 13% and 15% The above items exclude the impact of COVID-19 solutions Specialty Medicines turnover Increase low double-digit % for Specialty Medicines, excluding Xevudy sales HIV to increase around 10% Oncology to increase low single-digit % Adj. operating profit to adj. EPS items Interest: between £650m to £700m Share of associates: negligible Tax rate: around 15% to 15.5% Non-controlling interest: ViiV is main ongoing NCI, with Q1 2022 'Other' NCI not repeating GSK adj. EPS is expected to increase between 17% and 20% General Medicines turnover Increase low to mid single-digit % COVID-19 solutions Not anticipating significant sales Expect this to reduce GSK turnover growth by approximately 8% and reduce adj. operating profit growth by 4% to 5% Dividend Expect 56.5p per share GSK All turnover and growth comments at CER. Adj. is abbreviation for Adjusted. All expectations and targets regarding future performance and the dividend should be read together with the "Guidance, assumptions and cautionary statements" on page 52 of our third quarter 2023 earnings release, page 2 of our third quarter 2023 results announcement and the cautionary statement slide included with this presentation. Tax rate expectation is based on enacted legislation and is reflective of the anticipated performance of the business and key assets. The tax rate could fluctuate in individual years due to the timings of settlements of open years with tax authorities, as we continuously bring our tax affairs up to date, or due to changes in legislation. Interest expectation assumes no significant adverse movements in interest rates. 30 30#31Q3 2023 Total to adjusted profit reconciliation Total results Q3 2022 Q3 2023 Key commentary Operating profit Operating profit (£m) (£m) 1,191 1,949 Intangible amortisation 198 182 Intangible impairment 17 129 Major restructuring 73 110 Transaction-related 712 577 ViiV CCL¹ movements, primarily related to improved sales forecasts and FX2 Divestments, significant 414 legal and other (175) Receipt of dividend and distribution income from investments, including £184m fair value gain on Haleon investment Adjusted results 2,605 2,772 GSK Table may not sum due to rounding. See pages 19 and 20 of GSK's third quarter 2023 earnings release for a full reconciliation 1. Contingent consideration liabilities 2. Foreign exchange 31#32Continuing operations basis for guidance 2022 2023 Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 YTD Including COVID-19 solutions Sales (£m) 7,190 6,929 7,829 7,376 29,324 6,951 7,178 8,147 22,276 Operating profit (£m) 1,943 2,008 2,605 1,595 8,151 2,092 2,170 2,772 7,034 Operating margin 27.0% 29.0% 33.3% 21.6% 27.8% 30.1% 30.2% 34.0% 31.6% Earnings per share (pence) post-share 32.3 34.7 46.9 25.8 139.7 37.0 38.8 50.4 126.2 consolidation COVID-19 solutions impact Sales (£m) 1,307 466 Operating profit (£m) 194 58 དྷུབ 417 183 2,373 132 41 1 174 141 69 462 118 57 (4) 171 Earnings per share (pence) post-share 4.1 1.2 2.9 1.5 9.7 2.5 1.2 (0.1) 3.6 consolidation Excluding COVID-19 solutions impact Sales (£m) 5,883 6,463 7,412 7,193 26,951 6,819 7,137 8,146 22,102 Operating profit (£m) 1,749 1,950 2,464 1,526 7,689 1,974 2,113 2,776 6,863 Operating margin 29.7% 30.2% 33.2% 21.2% 28.5% 28.9% 29.6% 34.1% 31.1% Earnings per share (pence) post-share consolidation 28.2 33.5 44.0 24.3 130.0 34.5 37.6 50.5 122.6 GSK Adjusted results and for continuing operations unless stated otherwise; some figures may not sum due to rounding 32 32#33Currency 2022 currency sales exposure¹ US $ 48% Euro € 17% Japanese \ 7% Other² 28% 2023 adj. operating profit US $: 10 cents movement in the average exchange rate for full year impacts adj. operating profit by approx. +/- 8.0% Euro €: 10 cents movement in the average exchange rate for full year impacts adj. operating profit by approx. +/- 0.5% Japanese \: 10 Yen movement in the average exchange rate for full year impacts adj. operating profit by approx. +/- 1.0% 2022 2023 Historical average exchange rates Q1 Q2 Q3 Q4 Q1 Q2 Q3 quarterly US $ 1.34 1.26 1.18 1.19 1.22 1.25 1.26 Euro € 1.19 1.18 1.16 1.15 1.14 1.15 1.16 Japanese \ 156 162 161 165 162 173 182 Historical period end exchange rates US $ 1.31 1.21 1.11 1.20 1.24 1.26 1.23 Euro € 1.18 1.16 1.13 1.13 1.14 1.17 1.16 Japanese \ 160 165 160 159 165 183 183 GSK 1. Based on 2022 GSK continuing operations, including COVID-19 solutions 2. The other currencies that each represent more than 1% of GSK sales include Australian Dollar, Brazilian Real, Canadian Dollar, Chinese Yuan and Indian Rupee. In total, they accounted for 9% of GSK revenues in 2022. If exchange rates were to hold at the closing rates on 30 Sep 2023 ($1.23/£1, €1.16/£1 and Yen 183/£1) for the rest of 2023, the estimated impact on 2023 Sterling turnover growth for GSK would be -2% and if exchange gains or losses were recognised at the same level as in 2022, the estimated impact on 2023 Sterling Adjusted Operating Profit growth for GSK would be -4%. 33#34Capital allocation framework The priority is to invest for growth, coupled with attractive shareholder returns. Sustainable, profitable growth & cash generation GSK 1 Invest for growth Pipeline (organic & targeted BD) New product launches 2 Shareholder distributions Progressive dividend (40-60% pay-out ratio) Excess cash returns Underpinned by strong balance sheet with strong investment grade credit rating Attractive and growing shareholder returns 34 34#35Upcoming pipeline catalysts: 2023 and 2024 Regulatory decision Infectious diseases HIV (VIIV) Respiratory/Immunology Oncology Opportunity driven H2 2023 HT 2024 H2 2024 Jemperli³: RUBY, DMMR/MSI-H 1L EC4 Ojjaara: MOMENTUM, myelofibrosis EU Arexvy. 50-59 YOA US, EU, JP EU, JP Nucala: CRSwNP2 Nucala: severe asthma JP CN 52 Regulatory submission and Arexvy: 50-59 YOA¹ Nucala: CRSWNP² US, EU, JP MenABCWY vaccine 1st Gen CN acceptance Jemperli³: RUBY (Part 2), 1L EC4 Jemperli³: RUBY (Part 1), 1L EC4 US, EU US, EU US gepotidacin: EAGLE-2/3, uUTI10 depemokimab: SWIFT-1/2, asthma depemokimab: ANCHOR-1/2, CRSWNP Nucala: MATINEE, COPD" Late-stage phase Ill and phase II readouts GSK gepotidacin: EAGLE-1, GC5 depemokimab: SWIFT-1/2, asthma Blenrep: DREAMM-7, 2L+ MM6 Jemperli: RUBY (Part 2), 1L EC4 Jemperli: RUBY (Part 1), 1L EC4 Zejula': FIRST, IL maintenance OC depemokimab: ANCHOR-1/2, CRSWNP² Nucala: MATINEE, COPD" cobolimab³: COSTAR, 2L NSCLC12 Blenrep: DREAMM-8, 2L+ MM6 Zejula': ZEAL, IL maintenance NSCLC 12 linerixibat: GLISTEN, PBC13 MenABCWY vaccine 2nd Gen 1. Years of age 9. Phase II 10. Uncomplicated urinary tract infection 2. Chronic rhinosinusitis with nasal polyps 3. Tesaro asset 4. Endometrial cancer 11. Chronic obstructive pulmonary disorder 5. Urogenital gonorrhoea 12. Non-small cell lung cancer 6. Multiple myeloma 7. Overall survival population 8. Ovarian cancer 13. Treatment of cholestatic pruritus in primary biliary cholangitis US US US US 5 5 5 5 55 35#3667 potential new vaccines and medicines in pipeline Phase III/Registration – 17 assets Arexvy (RSV vaccine) gepotidacin (2140944) bepirovirsen (3228836) Bexsero (MenB vaccine) MenABCWY vaccine (3536819) tebipenem pivoxil (3778712) ibrexafungerp (5458448) Nucala (mepolizumab) depemokimab (3511294) latozinemab (4527223) camlipixant (5464714) Ojjaara (momelotinib) Recombinant protein, adjuvanted* BTI inhibitor* Antisense oligonucleotide* Recombinant protein, OMV Recombinant protein, OMV, conjugated vaccine Antibacterial carbapenem* Antifungal glucan synthase inhibitor* Anti-IL5 antibody Long-acting anti-IL5 antibody* Anti-sortilin antibody* P2X3 receptor antagonist JAK1, JAK2 and ACVR1 inhibitor* Anti-PD-1 antibody* PARP inhibitor* Blenrep (belantamab mafodotin) Anti-BCMA ADC* Jemperli (dostarlimab) Zejula (niraparib) cobolimab (4069889) linerixibat (2330672) Anti-TIM-3 antibody* IBAT inhibitor RSV older adults (50-59 YoA) Uncomplicated UTI** Hepatitis B virus** Meningitis B (infants US) MenABCWY, 1st Gen Complicated UTI? Invasive candidiasis COPD Asthma** Frontotemporal dementia 8** Refractory chronic cough Myelofibrosis^⁹ Endometrial cancer^** Ovarian cancer** Multiple myeloma Non-small cell lung cancer Cholestatic pruritus in primary biliary cholangitis Infectious diseases HIV (ViiV) Respiratory/Immunology Oncology Opportunity driven GSK *In-licence or other alliance relationship with third party **Additional indications or candidates also under investigation In registration 1. In phase I/II study 2. Transition activities underway to enable further progression by partner 3. Phase I study start imminent 4. GSK has an exclusive global license option to co-develop and commercialise the candidate 5. GSK has exclusive option to co-develop post phase II 6. Phase II study start imminent 7. Phase III study start expected in 2023 8. Phase III trial in patients with progranulin gene mutation 9. Approved in US 36#3767 potential new vaccines and medicines in pipeline Phase II-27 assets Infectious diseases HIV (ViiV) Respiratory/Immunology Oncology Opportunity driven 3437949 4406371 3536852 3528869 4023393 4178116 5101956 5101955 4106647 4348413 4382276 4396687 3993129 Recombinant protein, adjuvanted* Live, attenuated GMMA* Viral vector with recombinant protein, adjuvanted* Recombinant protein, OMV, conjugated vaccine Live, attenuated MAPS* MAPS* Recombinant protein, adjuvanted* GMMA mRNA* 3036656 sanfetrinem cilexetil (GV118819) BVL-GSK098 VIR-2482 3810109 3739937 4004280 4011499 Benlysta (belimumab) 3858279 1070806 4527226 (AL-101) belrestotug (4428859) 4532990 mRNA* Adjuvanted recombinant subunit Leucyl t-RNA synthetase inhibitor* Serine beta lactamase inhibitor* Ethionamide booster* Neutralizing monoclonal antibody*5 Broadly neutralizing antibody* Maturation inhibitor Capsid protein inhibitor Capsid protein inhibitor Anti-BLys antibody Anti-CCL17 antibody* Anti-IL18 antibody Anti-sortilin antibody* Anti-TIGIT antibody* HSD17B13 siRNA* GSK Malaria fractional dose MMRV new strain Shigella Therapeutic hepatitis B virus¹** MenABCWY, 2nd Gen¹ Varicella new strain Adult pneumococcal disease, 24-valent Paediatric pneumococcal disease, 24-valent Human papillomavirus Gonorrhoea¹ Seasonal flu COVID-19 Cytomegalovirus¹ Tuberculosis Tuberculosis Tuberculosis Influenza HIV HIV6 HIV6 HIV6 Systemic sclerosis associated interstitial lung disease Osteoarthritis pain** Atopic dermatitis Alzheimer's disease Non-small cell lung cancer** Non-alcoholic steatohepatitis *In-licence or other alliance relationship with third party **Additional indications or candidates also under investigation In registration 1. In phase I/II study 2. Transition activities underway to enable further progression by partner 3. Phase I study start imminent 4. GSK has an exclusive global license option to co-develop and commercialise the candidate 5. GSK has exclusive option to co-develop post phase II 6. Phase II study start imminent 7. Phase III study start expected in 2023 8. Phase III trial in patients with progranulin gene mutation 9. Approved in US 37 337#3867 potential new vaccines and medicines in pipeline Phase 23 assets Infectious diseases HIV (ViiV) Respiratory/Immunology Oncology Opportunity driven 4429016 4077164 3943104 3536867 2556286 3186899 3494245 3772701 3882347 3923868 4182137 (VIR-7832) 3965193 5251738 cabotegravir (1265744) 4524184 3888130 3915393 4381562 6097608 XMT-20564 (wholly owned by Mersana Therapeutics) belantamab (2857914) 4524101 4172239 Bioconjugated recombinant protein, adjuvanted* Bivalent GMMA* Recombinant protein, adjuvanted* Bivalent conjugate* Mtb cholesterol dependent inhibitor* CRK-12 inhibitor*2 Proteasome inhibitor* P. falciparum whole cell inhibitor* FimH antagonist* PI4K beta inhibitor Anti-spike protein antibody* PAPD5/PAPD7 inhibitor TLR8 agonist* Integrase inhibitor (400 mg/ml formulation) Integrase inhibitor* Anti-IL7 antibody* TG2 inhibitor* Anti-PVRIG antibody* Anti-CD96 antibody* STING agonist ADC* Anti-BCMA antibody DNA polymerase theta inhibitor* DNMT1 inhibitor* K. pneumoniae Invasive non-typhoidal salmonella** Therapeutic herpes simplex virus' Salmonella (typhoid + paratyphoid A) Tuberculosis Visceral leishmaniasis Visceral leishmaniasis Malaria Uncomplicated UTI Viral COPD exacerbations COVID-191 Hepatitis B virus' Hepatitis B virus HIV HIV Autoimmune disease Pulmonary fibrosis Cancer Cancer Cancer Multiple myeloma Breast cancer¹,3 Sickle cell disease GSK *In-licence or other alliance relationship with third party **Additional indications or candidates also under investigation In registration 1. In phase I/II study 2. Transition activities underway to enable further progression by partner 3. Phase I study start imminent 4. GSK has an exclusive global license option to co-develop and commercialise the candidate 5. GSK has exclusive option to co-develop post phase II 6. Phase II study start imminent 7. Phase III study start expected in 2023 8. Phase III trial in patients with progranulin gene mutation 9. Approved in US 38#39Changes since Q2 2023 Changes on pipeline New to Phase I 3915393 - · TG2 inhibitor, pulmonary fibrosis 4524101 - DNA polymerase theta inhibitor, breast cancer Achieved pipeline catalysts Regulatory decisions Arexvy - Adjuvanted recombinant protein, RSV older adults Apretude - Pre-exposure prophylaxis (PrEP) Vocabria - HIV, combination with rilpivirine long-acting injection Jemperli - RUBY, DMMR/MSI-H IL endometrial cancer Ojjaara (momelotinib) – MOMENTUM, myelofibrosis Removed from Phase I 2904545 - Recombinant protein, adjuvanted, C. difficile 4074386 Anti-LAG-3 antibody, cancer - 3745417-STING agonist, cancer Regulatory submissions & acceptances Nucala CRSWNP 1 momelotinib - SIMPLIFY-1 & MOMENTUM, myelofibrosis Infectious diseases HIV (ViiV) Respiratory/Immunology Oncology Opportunity driven JP 22N55 EU CN US US JP JP 22. Progressed to Phase II 4382276-mRNA, seasonal flu 4396687 mRNA, COVID-19 3993129 - Adjuvanted recombinant subunit, cytomegalovirus 3739937 - Maturation inhibitor, HIV 4004280 Capsid protein inhibitor, HIV 4011499 - Capsid protein inhibitor, HIV 1070806 Anti-IL18 antibody, atopic dermatitis 4527226 (AL-101) - Anti-sortilin antibody, Alzheimer's disease Other events Arexvy - 50-59 YoA - Positive phase III data readout bepirovirsen - B-TOGETHER phase llb data, AASLD abstract Shingrix - Positive phase III data (China) Positive CHMP opinion tebipenem - FDA SPA agreement for phase III PIVOT-PO study Jemperli - RUBY, DMMR/MSI-H IL endometrial cancer - Jemperli - RUBY part 1 OS overall population, IL endometrial cancer - Positive phase III data 39#40Glossary ADC AE Antibody drug conjugate Adverse event EGPA Eosinophilic granulomatosis with polyangiitis NSCLC Non-small cell lung cancer FVC Forced vital capacity OMV Outer membrane vesicle AESI Adverse event of special interest GC Urogenital gonorrhea ORR Overall response rate AUC Area under curve GMMA Generalised Modules for Membrane Antigens OS Overall surival BCMA B-cell maturation antigen GSI Gamma secretase inhibitor PBC Primary biliry cholangitis BICR Blinded Independent Central Review HA Healthy adults PFS BRCA Breast cancer HBV Hepatitis B virus PFS2 CAE Corneal adverse events HES Hypereosinophilic syndrome PK CBR Clinical benefit rate Hgb Hemoglobin PMF CCR Complete clinical response hSBA Human serum bactericidal assay CKD Chronic kidney disease HZ Herpes zoster RL CfB Change from baseline IC Immunocompromised RRMM CMV Cytomegalovirus ICR Independent central review RSV CN China iNTS Invasive non-typhoidal salmonella SAD Progression-free survival Time to second disease progression or death Pharmacokinetic Primary myelofibrosis Post-PV/ET MF Post-essential thrombocythemia myelofibrosis Repeat dose level Relapsed/refractory multiple myeloma Respiratory syncytial virus Single ascending dose COPD Chronic obstructive pulmonary disease ITT Intention-to-treat SAE Serious adverse event CP Cholestatic pruritus JP Japan siRNA Small interfering RNA CRR Complete response rate LLOQ Lower limit of quantitation SoC Standard of care CRSWNP Chronic rhinosinusitis with nasal polyps LRTS Lower respiratory tract symptoms SSC-ILD CUTI Complicated urinary tract infection MAD Multiple ascending dose TOC Systemic sclerosis associated interstitial lung disease Test of cure CV Cardiovascular MAE Medical attended events TTBR Time to best response DDI Drug-drug interaction MAPS Mulitple Antigen Presenting System TTD Time to treatment discontinuation DFS Disease-freee survival MM Multiple myeloma TTP Time to tumour progression DL Dose level MMR Measles, mumps and rubella TTR Time to treatment response DLT Dose-limiting toxicity MMRV Measles, mumps, rubella and varicella UTI dMMR Deficient mismatch repair MRD Multiple rising dose uUTI DoR Duration of response MSI-H Microsatellite instability high VGPR DPNP Diabetic peripheral neuropathic pain NASH Nonalcoholic steatohepatitis VSP EASI Eczema Area and Severity Index NRS Numeric Rating Scale YoA Urinary tract infection Uncomplicated urinary tract infection Very good partial remission Vital sign parameters Years of age GSK 40 40#41Use of GSK conference call, webcast and presentation slides The GSK plc webcast, conference call and presentation slides (together the ‘GSK materials') are for your personal, non-commercial use only. You may not copy, reproduce, republish, post, broadcast, transmit, make available to the public, sell or otherwise reuse or commercialise the GSK materials in any way. You may not edit, alter, adapt or add to the GSK materials in any way, nor combine the GSK materials with any other material. You may not download or use the GSK materials for the purpose of promoting, advertising, endorsing or implying any connection between you (or any third party) and us, our agents or employees, or any contributors to the GSK materials. You may not use the GSK materials in any way that could bring our name or that of any Affiliate into disrepute or otherwise cause any loss or damage to us or any Affiliate. GSK plc, 980 Great West Road, Brentford, Middlesex, TW8 9GS, United Kingdom. Telephone +44 20 8047 5000, www.gsk.com GSK 41#42GSK gsk.com