#1CSL ASX Announcement For immediate release Results Presentation for the Half-year ended 31 December 2023 CSL Limited ABN: 99 051 588 348 655 Elizabeth Street Melbourne Victoria 3000 Australia T +613 9389 1911 F +613 9389 1434 CSL.com 13 February 2024 Melbourne, Australia - CSL (ASX:CSL; USOTC:CSLLY) Please find attached the slides for the presentation on the half year results that will be given by the Chief Executive Officer and the Chief Financial Officer shortly. The briefing will be webcast and can be accessed in the "Investor" section of CSL's website (www.CSL.com). Authorised for lodgement by: Thread Fiona Mead Company Secretary For further information, please contact: Investors: Bernard Ronchi Investor Relations CSL Limited P: +61 3 9389 3470 E: [email protected] Media: Jimmy Baker Communications CSL Limited P: +61 450 909 211 E: [email protected]#2CSL CSL Limited 2024 Half Year Results 13 February 2024 Paul McKenzie CEO & Managing Director Joy Linton CFO#3Zaal Legal Notice 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 of research and development activities, decisions by regulatory authorities regarding approval of our products as well as their decisions regarding label claims; competitive developments affecting our products; the ability to successfully market new and existing products; difficulties or delays in manufacturing; trade buying patterns and fluctuations in interest and currency exchange rates; legislation or regulations that affect product production, distribution, pricing, reimbursement, access or tax; acquisitions or divestitures; research collaborations; litigation or government investigations, advances in environmental protection processes, uncertainty and disruption caused by the COVID-19 pandemic and CSL's ability to protect 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 TM or Ⓡ throughout this presentation are trademarks either owned by and/or licensed to CSL.#401 CEO Overview Paul McKenzie CEO & Managing Director 3 Driven by Our Promise CSL#5Strong performance Revenue +11%, NPATA²,3 +13%, NPAT +20% CSL Behring Strong growth across the portfolio especially Ig lg +23%, KCENTRA® +12%, Revenue by Segment HAEGARDA® +9% • Gross margin recovery underway Seqirus +2% Good progress with plasma initiatives Garadacimab filed Behring +14% $8,053m Vifor nc4 • CSL Seqirus Solid performance in a challenging season FLUAD® +14% Regulatory approval for world first sa-mRNA COVID vaccine aQIVc phase 3 - last patient enrolled Jan 2024 CSL Vifor Well prepared for transitioning Iron market Successful TAVNEOS® EU launch Strong patient conversion to MIRCERAⓇ 1. Growth 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 net profit after tax before impairment and amortisation of acquired intellectual property, business acquisition and integration costs and unwind of the inventory fair value uplift 3. Attributable to the shareholders of CSL Limited 4. Not comparable 4 Driven by Our Promise CSL#6CSL Behring Revenue up 14%¹ Therapy Revenue $m Change % lg 2,757 23% Albumin 613 8% Haemophilia 662 8% Specialty 976 6% Other² Total • Performance Strong growth across all geographies PRIVIGENⓇ/INTRAGAM® +27%, HIZENTRA +18% Significant patient demand in core indications HIZENTRAⓇ 50ml pre-filled syringe launch in the US Strong growth in emerging markets Solid growth in US and EU Competition remains strong in China IDELVIONⓇ remains the standard of care, +7% Market leader in key markets Significant HCP and patient interest in HEMGENIXⓇ KCENTRAⓇ +12% Continues to be the gold standard for warfarin reversal HAEGARDA® +9% Strong EU performance Continue to add new patients Hizentra Immune Globulin Subcutaneous (Human) 20% Liquid HUMATE-P Antihemophilic Factor/von Willebrand Factor Complex (Human) KCENTRAⓇ Prothrombin Complex Concentrate (Human) Major Brands AlbuRxⓇ Haemate P 1000 HEMGENIX® etranacogene dezaparvovec-drib Urgent Warfarin Reversal HAEMOCOMPLETAN P Fibrinogen Concentrate privigen Immune Globulin Intravenous (Human), 10% Liquid IDELVION Coagulation Factor IX (Recombinant, Albumin Fusion Protein HAEGARDA C1 Esterase Inhibitor Subcutaneous (Human) BERINERT C1 Esterase Inhibitor, Human 230 (16%) COVID-19 vaccine supply contract in prior period 5,238 14% 1. Growth 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. Includes HPV royalties & Hyperimmunes 5 Driven by Our Promise CSL#7CSL Behring Plasma Highlights. Underlying fundamentals of plasma collection remain strong • 10% reduction in CPL • • Expanding geographic footprint of plasma collection network RIKA Currently >30 centres converted Roll out plan over next 18 months Individualised Nomogram filed with the FDA Gross margin recovery underway 1. US only and average over the periods. 6 Driven by Our Promise Benefits of RIKA Plasma Donation System • • Fewer donor deferrals; reduced donation time by ~30% Individualised Nomogram will improve average donation yield by ~10% Reduced biohazard disposable waste by 10-15% Improved productivity CSL#8CSL Seqirus Revenue up 2%¹ Revenue $m Change1% Egg Based 123 0% Cell Culture 529 (13%) Adjuvanted Egg 988 14% In License Pandemic Other Income Total Current Season Dynamics • Reduced rates of immunisation Competitive price pressures Overburdened healthcare system Performance Revenue growth in the northern hemisphere influenza market in a challenging season Heightened recognition of benefits of differentiated product portfolio Continued FLUADⓇ preferential recommendation in the UK First season following US ACIP preferred recommendation for FLUADⓇ in 65+ Major Brands INFLUENZA VACCINE afluria QUADRIVALENT Influenza Vaccine FLUCELVAX. QUADRIVALENT FLUAD 65 65 (23%) Transition to single dose Gardasil vaccine program 85 9% 14 67% 1,804 2% 1. Growth percentages shown at constant currency to remove the impact of exchange rate movements, facilitating comparability of operational performance. See end note for further detail. 7 Driven by Our Promise CSL#9CSL Seqirus Operational Highlights. • Seasonal influenza products FLUCELVAX® 6-month+ age extension approved in UK, Australia and New Zealand FLUADⓇ - 50-year+ age extension approved in the EU. Received preferential recommendation in Canada for the 65+ population. • • Product Innovation Phase III clinical study commenced for aQIVC Regulatory approval for world first sa-mRNA COVID vaccine Japanese approval for ARCT- 154 R&D development program beyond influenza Phase 1 trial for sa-mRNA for seasonal and pandemic influenza . Pandemic influenza UK Advance Purchase Agreement awarded solely to CSL Seqirus Selected by BARDA for delivery of H5N8 A/Astrakhan antigen to the U.S. government for preparedness against potential avian flu outbreak in humans 8 Driven by Our Promise CSL#10CSL Vifor Iron Nephrology Revenue¹ $m 505 Major Brands ferinject® ferric carboxymaltose Venofer iron sucrose injection, USP MIRCERA VELPHORO® eyelet Highlights China FERINJECTⓇ inclusion in the National Reimbursement Drug List Well prepared for a transitioning iron market US step edit pressure MIRCERAⓇ • Strong ESA performance in the U.S., as patients convert KAPRUVIAⓇ Dialysis 399 3 Retacrit pala-p KAPRUVIA 5 Non-Dialysis 90 Veltassa TAVNEOS™ (avacopan) All Other Total 17 1,011 • Approved in multiple emerging markets • Strong performance in Germany, France and Austria VELPHORO® • . US inventory adjustment China approval and inclusion in the National Reimbursement Drug List Strong TAVNEOS® performance in all EU launch markets, with regulatory approval obtained in South Korea Paediatric indication of VELTASSAⓇ in US Oct-23, EU Jan-24 1. The prior comparable period included only 5 months revenue following the acquisition of Vifor Pharma in August 2022. 2. Licensed from F. Hoffman-La Roche AG; 3. Licensed from Pfizer Inc.; 4. Licensed from Cara Therapeutics, Inc.;5. Ex-US rights licensed from ChemoCentryx, Inc., a wholly owned subsidiary of Amgen, Inc. 9 Driven by Our Promise CSL#1102 Pipeline Bill Mezzanotte EVP & Head of R&D 10 Driven by Our Promise CSL#12CSL112 Apolipoprotein A-I (human) - AEGIS-II Objective: to evaluate the efficacy and safety of CSL112 on reducing the risk of cardiovascular (CV) death, myocardial infarction (MI), or stroke Treatment period (4 weekly infusions) 6 g CSL112 (n=9,112) Follow-up period (1 year) 18,219 MI patients from 49 Countries Infusion: Placebo (n=9,107) 1 2 3 2 3 4 5 6 7 8 9 10 11 8 15 22 29 60 90 180 270 365 Visit: 1 Study day: Within 5 days of arriving for evaluation and treatment of MI Randomization Driven by Our Promise 11 All infusions given within 30 days of the first infusion Primary Endpoint at 90 days Time to first occurrence of any component of the composite endpoint of CV death, MI, or stroke from time of randomization through 90 days CSL#13CSL112 Apolipoprotein A-I (human) - AEGIS-II Objective: to evaluate the efficacy and safety of CSL112 on reducing the risk of cardiovascular (CV) death, myocardial infarction (MI), or stroke For the primary efficacy endpoint at 90 days, the trial did not meet the threshold for statistical significance There are no plans for a near-term regulatory filing Additional analyses are ongoing to understand the complete data and determine next steps Study results will be presented at the American College of Cardiology (ACC) Scientific Sessions, 6 April 2024, and published in a peer-reviewed journal 12 Driven by Our Promise CSL#14Recent Late-Phase R&D Highlights • • Clazakizumab for reduction of cardiovascular events in patients with End-Stage Kidney Disease (ESKD) Well-characterized link of inflammation and cardiovascular morbidity and mortality in patients with ESKD • • Positive phase 2b data; Phase 3 prepared to start 2Q 2024 Garadacimab for Hereditary Angioedema . • High efficacy, Favorable safety and tolerability; patient-friendly presentation and regimen Global submissions and regulatory review underway; First approval expected 4Q 2024 HIZENTRAⓇ for Dermatomyositis 13 • 5-year mortality rate 10-30%, high comorbidity; Better treatments needed Enrolment complete for phase 3; Data expected 3Q 2024 Adjuvanted, cell-based Quadrivalent Influenza Vaccine (aQIVC) • • aQIVc combines benefits of MF59Ⓡ adjuvant, higher antigen dose and cell-derived antigen to increased influenza protection via heightened immune response Phase III Immunogenicity study (50 years+) enrolment completed ahead of schedule; Data expected 4Q 2024 Driven by Our Promise CSL#1503 Financials Joy Linton CFO 14 Driven by Our Promise CSL#16NPATA¹ +13% $2,056m 1H23 1H24 Rep @CC³ FX $39m NPATA $1,818m² $2,056m² Acquired intangible assets ($88m) ($129m) amortisation One-off acquisition adjustments ($184m) ($49m) Tax $35m $31m4 $2,017m $1,818m NPATA Attributable to NC15 $59m $53m NPAT $1,640m $1,962m NPAT Attributable to NC15 ($17m) ($20m) NPAT $1,623m² $1,942m² 1H23 NPATA 3 1H24 NPATA @CC 1. NPATA is defined as the statutory net profit after tax before impairment and amortisation of acquired intellectual property, business acquisition and integration costs and unwind of the inventory fair value uplift 2. Attributable to the shareholders of CSL Limited.. 1H23 includes ~5 months of CSL Vifor contribution 3. Constant currency removes the impact of exchange rate movements to facilitate comparability of operational performance for the Group 4. Tax attributable to amortisation of acquired intellectual property $24m. Tax attributable to one-off acquisition adjustments (including unwind of the inventory fair value uplift) $7m 5. Non-Controlling Interest 15 Driven by Our Promise CSL#17CSL Group Financial Highlights Growth in line with sales Anticipate FY24 within 10-11% of revenue 1H23 1H24 1H24 Change US$ Millions Rep Rep at CC % R&D Total Revenue 7,184 8,053 7,954 11% Gross Profit³ 4,042 4,494 4,491 11% GP %3 56.3% 55.8% 56.5% G&A Sales & Marketing 683 707 696 2% Operating Result³ 3,359 3,787 3,796 13% R&D³ 593 669 661 11% G&A³ 360 323 335 (7%) Finance (Net) 171 234 226 32% NPATA² 1,818 2,017 2,056 13% Tax ETR % 16.0% 19.2% 18.1% Cashflow From Ops 980 1,069 9%4 NPATA EPS² ($) 3.77 4.18 11%4 DPS ($) 1.07 1.19 11%4 1. Growth 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. Attributable to the shareholders of CSL Limited. 3. Underlying results have been adjusted to exclude impairment and amortisation of acquired IP, business acquisition and transaction costs and unwind of the inventory fair value uplift 4. At reported currency 16 Driven by Our Promise Favourable FX differences Efficiencies driven by centralisation of Enabling Functions Finance Higher interest rates Higher ETR due to geographic profit mix and increased UK tax rate Cashflow from Operations Increase in cash earnings from growth in sales CSL#18CSL Group 1H24 by Segment CSL CSL CSL CSL Change US$ millions reported Behring Seqirus Vifor Group % at CC Sales 5,093 1,705 1,006 7,804 11% Other Revenue 145 99 5 249 2% Total Revenue 5,238 1,804 1,011 8,053 11% Gross Profit² 2,617 1,207 670 4,494 11% Reported GP %2 50.0% 66.9% 66.3% 55.8% Sales & Marketing 396 89 222 707 (2%) Operating Result 2,221 1,118 448 3,787 13% Operating Segment%2 42.4% 62.0% 44.3% 47.0% 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. Underlying results have been adjusted to exclude impairment and amortisation of acquired IP, business acquisition and transaction costs and unwind of the inventory fair value uplift CSL 17 Driven by Our Promise#1904 70 CEO Overview Paul McKenzie CEO & Managing Director 18 Driven by Our Promise CSL#20Outlook SL CSL Behring . • • Underlying patient. demand for lg in core indications remain strong 2H growth expected for HEMGENIX® Plasma and yield initiatives ongoing Gross margin recovery underway CSL Seqirus Progression of global registrations for next- generation mRNA COVID vaccine ~85% of sales in 1H, with expenses falling more evenly over the year giving rise to a loss in 2H, consistent with seasonality 7 For forward looking statements, refer to Legal Notice on page 2 2 3 4 CSL Vifor • . • Well positioned for iron competition Nephrology launch momentum Unlock value across CSL commercial and operations e.g. patient blood management with CSL Behring Constant Currency (CC) removes the impact of exchange rate movements to facilitate comparability. See end note for further detail % growth rates exclude the one-off gain from the sale of property in FY23 (NPATA $44m) NPATA to NPAT adjustments are estimated to be: Amortisation of acquired intellectual property. FY24 estimate $320m (pre-tax), $270m (post tax) CSL Vifor integration costs and the unwind of inventory fair value uplift. FY24 estimate $85m (pre-tax), $70m (post-tax) FY24 FX impact expected to be a headwind of ~$85M if current rates remain unchanged for the remainder of the financial year FY24 Guidance Reaffirmed Revenue Growth ~ 9-11% @CC² NPATA Growth ~13-17% @CC2,3 to ~$2.9 - $3.0b @CC24 Driven by Our Promise 19 CSL#21CSL™ CSL Contacts Mark Dehring VP Investor Relations +61 3 9389 3407 [email protected] Bernard Ronchi Investor Relations +61 3 9389 3470 [email protected] Stephen McKeon Investor Relations +61 3 9389 6798 [email protected]#22Notes (#) 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 comparable period (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 comparable period (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 comparability of information between reporting periods, and enable further insight and a different perspective into the financial performance. 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. Summary NPAT attributable to members of parent entity Reported net profit after tax Currency effect Constant currency net profit after tax* $1,901m $41m $1,942m Average exchange rates for major currencies for half year ended 31 December 2023/31 December 2022 include: USD/EUR (0.92/0.99), USD/AUD (1.53/1.49), USD/CHF (0.89/0.97), USD/CNY (7.24/6.97) and USD/GBP (0.80/0.85). Summary NPATA' attributable to members of the parent entity Reported net profit after tax US$m 1,901 Amortisation of acquired intellectual property 102 Unwind of inventory fair value uplift 21 Summary Revenue Acquisition and integration costs 19 Reported revenue $8,053m Currency effect ($99m) Constant currency revenue* $7,954m Income tax credit on above adjustments (26) NPATA attributable to members of the parent entity 2,017 Currency effect attributable to members of the parent entity *Constant currency net profit after tax and constant currency sales have not been audited or reviewed in accordance with Australian Auditing Standards. 39 Constant Currency # NPATA¹attributable to members of the parent entity 2,056 1. NPATA is defined as the statutory net profit after tax before impairment and amortisation of acquired intellectual property, business acquisition and integration costs and unwind of the inventory fair value uplift 21 Driven by Our Promise CSL#23Appendix 22 Driven by Our Promise CSL#24Appendix A CSL Behring - Key Products CSL BEHRING Therapy Group Sales $m Change1% HY24 Revenue By Therapy Group $m Privigen IVIG 1,768 35% Hizentra SCIG 945 18% 9% Other Specialty $450 4%, Other, $242 Albumin Albumin 613 8% 10%, Peri-Operative 35% IVIG Idelvion Haemophilia 390 7% Kcentra Specialty 366 12% Haegarda Specialty 245 9% Berinert Specialty 120 (7%) Bleeding, $526 4%, Plasma, $205 8% Recombinants $445 $1,812 Haemocomplettan Specialty 115 0% Humate Haemophilia 97 8% 12%, 18%, Albumin, $613 SCIG, $945 Haemate Haemophilia 58 16% 1. Growth percentages shown at constant currency to remove the impact of exchange rate movements, facilitating comparability of operational performance. See end note for further detail 23 Driven by Our Promise CSL#25Appendix B CSL Vifor & CSL Seqirus - Key Products HY24 Revenue By Therapy Group $m 0% Other Income $14 5%, Pandemic, $85 4%, In License, $65 CSL SEQIRUS Fluad Therapy Group Sales $m Change1% Adjuvanted 988 14% 7%, Egg Based, $123 Flucelvax Afluria Cell culture 529 (13%) Egg-based 123 9% 55%, Adjuvanted, $988 CSL VIFOR Therapy Group Sales $m Ferinject/Injectafer Iron 376 9%, Non Dialysis, 2%, Other, $17 $90 Mircera Venofer Dialysis 313 Iron 82 Veltassa Velphoro Maltofer Non Dialysis 66 Dialysis 46 39%, Dialysis, $399 Iron 46 1. Growth percentages shown at constant currency to remove the impact of exchange rate movements, facilitating comparability of operational performance. See end note for further detail. 24 Driven by Our Promise 29%, Cell Culture, $529 50%, Iron, $505 CSL