#126 July 2023 Half year and Q2 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. 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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 and any impacts of the COVID-19 pandemic. 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 Q2 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 Q2 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 performance drives momentum Emma Walmsley Innovation Dr Tony Wood Performance Luke Miels, Deborah Waterhouse and Julie Brown Trust Emma Walmsley GSK Q&A Emma Walmsley, Tony Wood, Luke Miels, Deborah Waterhouse, Julie Brown, David Redfern#4Strong performance drives momentum Emma Walmsley, Chief Executive Officer GSK 4#5HT 2023 Momentum drives upgraded guidance Delivered 11% sales growth, 9%' adj. operating profit growth Profitable, resilient growth across portfolio: Vaccines 12%¹ • Specialty Medicines 12%¹ General Medicines 8% 62%² of H1 2023 sales Vaccines and Specialty Medicines New products launched since 20173 delivered £4.6 billion with c.70% from Vaccines and HIV GSK Absolute values at actual exchange rates (AER); changes at CER, unless stated otherwise. 1. Excluding COVID-19 solutions 2.. Products include: Zejula, Blenrep, Jemperli, Cabenuva, Apretude, Benlysta, Bexsero, Menveo, Menjugate, Nucala, Trelegy, Dovato, Juluca, Shingrix 3. Product approvals since 2017 include: Zejula, Trelegy, Shingrix, Juluca, Dovato, Duvroq, Rukobia, Blenrep, Cabenuva, Jemperli, Apretude Q2 2023 performance Sales £7.2bn, +4% +11%¹ Adj. EPS 38.8p, +16% +17%¹ Adj. operating profit £2.2bn, +11% +12%¹ Dividend per share 14.0p Full-year 2023 guidance upgraded¹ Sales growth: 8-10% Adj. operating profit growth: 11-13% Adj. EPS growth: 14-17% 5 ST#6Delivering our commitments for attractive medium-term growth On track with continued organic and business development progress 2021-2026 outlook Sales Metric >5% CAGR Adj. operating profit >10% CAGR Vaccines Specialty Medicines General Medicines High-single-digit % CAGR Double digit % CAGR Broadly stable >30% by 2026 Cash generated from Operations >£10bn by 2026 Adj. operating margin On track Pipeline Arexvy. US FDA and EMA approved RSV1 vaccine for older adults MenABCWY: preliminary pivotal phase III data presented at ESPID2 Shingrix. approved in Japan for at-risk adults *413 NgG vaccine candidate for Neisseria gonorrhoeae: US FDA fast-track designation Jemperli. 1L EC3 indication granted priority review by US FDA Business Development Completion of BELLUS Health, Inc. acquisition and exclusive licensing agreement with Scynexis, Inc. GSK All guidance, outlooks, ambitions and expectations should be read together with the guidance, assumptions and cautionary statement in the Q2 2023 earnings release and the 2022 Annual Report. All outlook and ambition statements are given on a constant currency basis and use 2021 forecast exchange rates as a base, assuming a continuation of Q1 2021 closing rates. CAGR is for the 5 years to 2026, using 2021 as the base year. Pipeline sales are risk-adjusted and include anticipated sales of new products and Life Cycle Innovation (LCI) launched from 2021 onwards. Note: COVID therapeutic and vaccine solutions are excluded from the above. 1. Respiratory syncytial virus 2. European Society For Paediatric Infectious Diseases 3. Endometrial cancer. 6#7Strong momentum supports confidence in short, medium and long-term commitments to profitable growth Full-year 2023 guidance¹ 2021-2026 outlook 2031 ambition Sales growth 8-10% Adj. operating profit growth 11-13% Adj. EPS growth 14-17% GSK Sales CAGR >5% Adj. operating profit CAGR >10% Sales >£33 billion Growth rates are at constant exchange rates (CER). All guidance, outlooks, ambitions and expectations should be read together with the guidance, assumptions and cautionary statement in the Q2 2023 earnings release and the 2022 Annual Report. All outlook and ambition statements are given on a constant currency basis and use 2021 forecast exchange rates as a base, assuming a continuation of Q1 2021 closing rates. CAGR is for the 5 years to 2026, using 2021 as the base year. Pipeline sales are risk-adjusted and include anticipated sales of new products and Life Cycle Innovation (LCI) launched from 2021 onwards. Note: COVID therapeutic and vaccine solutions are excluded from the above 1. Excluding COVID-19 solutions 7#8Innovation Dr Tony Wood, Chief Scientific Officer GSK 8#9Three key R&D priorities Uniting science, technology and talent to get ahead of disease together Science of the immune system and advanced technologies Execution Focus on pipeline acceleration and complementary business. development to deliver innovative vaccines and medicines Technology Using platform and data technology to deliver innovative vaccines and medicines Culture Building a culture that is ambitious for patients; attracting top talent and highly skilled specialists GSK#10Effective capital allocation to support R&D investment priorities Invest for growth Pipeline New product launches Infectious Diseases Organic R&D portfolio and targeted Business Development Criteria: First-in-class or best-in-class, probability of success, commercial potential, and risk/return, technology enabled HIV Respiratory/ Immunology Oncology Pioneering novel platform technologies to help prevent and treat seasonal respiratory viruses, bacterial, fungal and chronic viral infections Novel treatment and prevention options to significantly improve the patient experience Slow disease progression, address treatment resistance and reduce signs and symptoms of disease Seeking solutions for blood and women's cancers and break-throughs in immuno- oncology GSK 10#11Four focused therapeutic areas Two thirds of our development portfolio comes from infectious diseases and HIV Infectious Diseases HIV Respiratory/ Immunology Oncology Pioneering novel platform technologies to help prevent and treat seasonal respiratory viruses, bacterial, fungal and chronic viral infections Arexvy1 MenABCWY Pneumococcal 24-valent mRNA Seasonal influenza/COVID-19 Shingrix Herpes simplex virus gepotidacin Brexafemme Novel treatment and prevention options to significantly improve the patient experience Long-acting and ultra-long acting Next-generation cabotegravir N6LS (bNAb²) 3rd generation INSTI³ Capsid inhibitor Slow disease progression, address treatment resistance and reduce signs and symptoms of disease depemokimab camlipixant Nucala (COPD) GSK4532990 (NASH5) Seeking solutions for blood and women's cancers and break-throughs in immuno- oncology momelotinib Jemperli cobolimab CD226 axis tebipenem bepirovirsen gonorrhoea Enabled by advanced technology and data platforms with targeted business development GSK Note: select pipeline programmes shown 1. Respiratory syncytial virus in older adults 2. Broadly neutralising antibody 3. Integrase strand transfer inhibitor 4. Chronic obstructive pulmonary disease 5. Non-alcoholic steatohepatitis 11#1268 assets in clinical development: upcoming pipeline catalysts H2 2023 Regulatory decision Arexvy RSV, ≥60 YOA (JP) cabotegravir (long-acting), pre-exposure (EU) Vocabria, HIV treatment (CN) H1 2024 momelotinib MOMENTUM, myelofibrosis (EU, JP) Jemperli RUBY IL DMMR/MSI-H endometrial cancer (EU) H2 2024 Arexvy, RSV, 50-59 YOA (US, EU, JP) gepotidacin EAGLE-2/3, uUTI (US, EU) Nucala, nasal polyposis (JP) Nucala, severe asthma (CN) Regulatory submission and acceptance momelotinib MOMENTUM, myelofibrosis (US) Jemperli RUBY, 1L dMMR/MSI-H endometrial cancer (US) Arexvy, RSV, 50-59 YOA (US, EU, JP) gepotidacin EAGLE-2/3, uUTI (US, EU) Nucala, nasal polyposis (CN, JP) momelotinib MOMENTUM, myelofibrosis (JP) MenABCWY vaccine 1st generation (US, EU) Jemperli RUBY Part 2, 1L endometrial cancer (US, EU) Blenrep DREAMM-7/8, 2L+ multiple myeloma (US, EU) gepotidacin EAGLE-1, GC (US) Nucala MATINEE, COPD (US) Phase III Arexvy, RSV, 50-59 YoA Blenrep DREAMM-7/8, 2L+ multiple myeloma gepotidacin EAGLE-1, GC Zejula FIRST IL maintenance ovarian cancer Jemperli RUBY Part 2, 1L endometrial cancer Nucala MATINEE, COPD depemokimab SWIFT-1/2, asthma depemokimab ANCHOR-1/2, CRSWNP Zejula ZEAL, IL maintenance NSCLC cobolimab COSTAR, 2L NSCLC linerixibat GLISTEN, cholestatic pruritus in PBC Targeted Business Development Select phase II, phase I, and investment decisions bepirovirsen B-TOGETHER, HBV mRNA Seasonal Flu GSK3858279 CCL17, Diabetic Neuropathic pain, OA pain GSK1070806 IL18, atopic dermatitis GSK3943104, Herpes Simplex Virus Cabotegravir + N6LS VH4524184 HIV integrase inhibitor (LA) VH3739937 HIV maturation inhibitor VH4004280 HIV-1 capsid protein inhibitor (LA and oral) MenABCWY vaccine 2nd generation mRNA COVID-19 GSK4428859 anti-TIGIT VH4524184 HIV integrase inhibitor (LA) GSK mRNA Seasonal flu/COVID-19 Infectious Diseases Respiratory/Immunology Opportunity driven HIV Oncology 12#13Continuous improvement in R&D productivity Enabled by advanced technology and partnerships R&D success rates in phase II have improved to median with phase III and registration upper quartile, three-year rolling trend 16% 14% 20% 26% 64% 81% 100% 100% 95% 95% 94% 95% End to end cycle times have improved by 20% compared to industry median since 2016 helped by vaccines performance End to end cycle times have decreased by Areas of focus 3.7 years Goal to continue to drive portfolio acceleration, improve R&D success rates, and deliver high value vaccines and medicines Doubling-down on data and platform technology, and in particular using technology to de-risk targets and progress high-quality first-in-class and best-in-class opportunities for the right patients GSK Phase II Phase III Registration 2016-2018 2017-2019 2018-2020 ■2019-2021 • Increase partnerships for new assets and capabilities Source: CMR Clarivate Analytics, 2022. Rolling three year trend 1. Industry median and top quartile values are based on major companies only (those spending ≥US$ 2 billion in 2021 on pharmaceutical R&D) 13#14Performance: growth drivers Luke Miels, Chief Commercial Officer Deborah Waterhouse, CEO, ViiV Healthcare and President, Global Health GSK 14#15Continued strong commercial execution Q2 2023 growth across all product areas and all regions Sales contribution by product area¹ Sales contributions by region1 Sales (£m) Vaccines 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000 GSK Specialty Medicines Q2 2022 General Medicines US Europe International 8,000 Absolute values at AER; changes at CER, unless stated otherwise 1. Excluding COVID-19 solutions +8% +12% Sales (£m) 7,000 6,000 5,000 +17% +12% 4,000 3,000 2,000 +15% 1,000 Q2 2023 +8% 0 Q2 2022 Q2 2023 15#16Q2 2023 sales £7.1bn¹, +11%¹ Strong commercial execution across all product areas and key medicines Vaccines +15%¹ . Shingrix+20%: another record quarter with continued growth ex-US; now launched in 33 markets, most with <3% penetration ex-US . Bexsero +18% Specialty Medicines +12%1 . Benlysta+19% • Nucala +15% and market leader in IL5 share . Oncology -3% General Medicines +8% Trelegy+30%: best-in-class access with leading US share of voice. ⚫ #1 prescribed SITT2 worldwide in >60 countries Shingrix sales by geography 100% 30% 29% 80% 38% 38% 39% 46% 60% 40% 70% 71% 63% 62% 61% 54% 20% 0% Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 US EU+International HIV +12% Nucala EOS-driven indications driving growth and differentiation • Severe Eosinophilic Asthma Hyper Eosinophilic Syndrome Chronic Rhinosinusitis with Nasal Polyps Eosinophilic Granulomatosis with Polyangiitis Phase III COPD data: H2 2024 Trelegy global sales Sales (£m) 650 550 450 350 250 150 50 2021 2022 2023 Q1 Q2 Q3 Q4 GSK Absolute values at AER; changes at CER, unless stated otherwise 1. Excluding COVID-19 solutions 2. Single inhaler triple therapy 16 10#17Arexvy approved ahead of 2023/24 RSV season Adults aged 60 and older can be protected from RSV disease for the first time Exceptional efficacy for patients aged 60 years or older Efficacy against RSV LRTD in patients with at least one comorbidity 94.6% Overall efficacy against RSV-LRTD 82.6% US CDC recommends Arexvy for upcoming RSV season² . • Recommended for adults aged 60 and older with shared clinical decision making² 77 million older adults in the US¹ could be eligible for RSV vaccination for the first time CDC recommends vaccination as early as vaccines become available² Launch preparations progressing as planned • Vaccine and respiratory franchise expertise will lead to significant retailer and HCP reach US: doses shipped to distribution centers; Disease awareness campaign launched • EU: launching in Q3 2023 Adults aged 60+ at risk of annual exposure to RSV >lbn GSK 1.2021 US Census: adults age 60 and older 2. Morbidity and Mortality Weekly Report, accessed 20 July 2023: https://www.cdc.gov/mmwr/volumes/72/wr/pdfs/mm7229a4-H.pdf 17#18HIV +12% growth in Q2 2023 driven by oral 2DR and long-acting regimens Strong commercial execution across HIV portfolio Sales £m 40% 30% 1000 60% 900 51% 46% 47% 50% 800 42% 700 39% 36% 600 33% 28% 500 26% 25% 400 300 200 100 0 Q1 Q2 Q3 2021 2021 2021 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2021 2022 2022 2022 2022 2023 2023 20% 10% 0% HIV Innovation sales as a % of total HIV Growth driven by oral 2DR and long-acting regimens . . Sales: £1.6bn in Q2 2023 with all regions driving growth Total portfolio: oral 2DR and LA regimens now 51% • Dovato. £430m and #1 HIV product • Dolutegravir: granted paediatric exclusivity by US FDA extending LOE by six months to April 2028 Cabenuva. £176m with SOLAR data driving strong growth with >70% of sales from competitor regimens Apretude. £36m; building strongly in US. Positive CHMP opinion in Europe Pipeline: three target medicine profiles focused on next- generation long-acting regimens 2023 outlook upgraded: high-single digit % growth Dovato GSK Juluca 1. Two drug regimen Cabenuva Apretude Oral 2DR & LA 18#19Performance: CFO priorities, capital allocation and financial results Julie Brown, Chief Financial Officer GSK 19#20Capital 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 20 20#21Delivered a strong Q2 2023 financial performance Q2'22 Q2'23 AER CER Adjusted results £m £m % % Sales 6,929 7,178 4 4 Cost of goods sold (1,970) (1,728) (12) (12) Gross profit 4,959 5,450 10 11 Gross profit margin 71.6% 75.9% 440 bps 430 bps Selling, general and administrative (1,955) (2,191) 12 11 Research and development (1,155) (1,315) 14 13 Royalties 159 226 42 44 Operating profit 2,008 2,170 11 Operating profit margin 29.0% 30.2% 130 bps 200 bps Q2'22 Q2'23 AER CER Total results £m £m % % Total operating profit 1,081 2,141 98 >100 Total operating profit margin 15.6% 29.8% 1,420 bps 1,500 bps GSK Key commentary Sales grew +11% excluding COVID-19 solutions Benefit from lower sales of low-margin Xevudy Investment behind product launches Progressing early and late stage programmes Benefit from Gardasil, Kesimpta and Biktarvy OP grew +12% excluding COVID-19 solutions 21#22Improved Q2 2023 adj. operating margin by 200 bps at CER Improved 20 bps at CER excluding COVID-19 solutions +2.0% 29.0% Q2*22 margin 4.3% COGS 1.8% SG&A 31.0% 1.4% 0.9% 0.7% 30.2% R&D Royalties Q2'23 margin at 22 FX Currency Q2'23 margin at 23 FX Key drivers Lower COGS due to lower sales of low- margin Xevudy Growth ahead of sales, with investment behind product launches, incl in HIV, Shingrix and preparation for Arexvy launch Growth ahead of sales, progressing early and late stage programmes Benefit from Gardasil, Kesimpta and Biktarvy royalties GSK Chart may not sum due to rounding 22 22#23Efficient delivery of profit attributable to shareholders Q2 2022 £m Q2 2023 Key commentary £m Operating profit (OP) 2,008 2,170 Net finance expense (181) (152) +11% at CER (+12% at CER excluding COVID-19 solutions) Higher interest income and lower bond interest costs; [expect £700-750m in FY23] Share of associates (2) Ταχ (277) (315) Tax rate 15.2% 15.6% Timing of tax settlements; expect ~15% rate in FY23 Non-controlling interests (150) (130) Lower profit allocations to NCIs from ViiV Healthcare Profit attributable to shareholders 1,398 1,571 Earnings per share (EPS) 34.7p 38.8p +16% at CER (+17% at CER excluding COVID-19 solutions) Total EPS 17.5p 40.1p +>100% at CER Weighted average number of shares (millions) 4,025 4,053 GSK Adjusted results and for continuing operations unless stated otherwise 23 23#24Q2 2023 Total to adjusted profit reconciliation Total results Q2 2022 Operating profit (£m) Q2 2023 Operating profit Key commentary (£m) 1,081 2,141 Intangible amortisation 192 184 Intangible impairment 55 4 Major restructuring 134 46 Transaction-related 685 (189) Divestments, significant (139) (16) legal and other Adjusted results 2.008 2,170 GSK Table may not sum due to rounding. See page 19 of GSK's second quarter 2023 earnings release for a full reconciliation. 1. Contingent consideration liabilities 2. Foreign exchange ViiV CCL¹ movements, primarily related to FX2 Receipt of dividend and distribution income, partly offset by legal charges, including charges for the defence of Zantac 24#25H1 2023 free cash outflow of £0.3bn Cash generated from operations of £1.9bn Key drivers of cash flow Lower cash generated from operations, including: Q1 2022 upfront income from Gilead Science, Inc. settlement (£0.9bn); Additional pension contributions (£0.3bn); Increase in trade receivables due to timing of Xevudy collections, as well as higher sales; Increase in seasonal inventory; H1'22 free cash flow Lower CGFO1 Higher taxation paid 13 Higher net Capex² 34 Other³ Lower payables balances reflecting increased investment in 2022 H1'23 free cash flow -341 Key drivers of net debt +£1.4bn net acquisition cost of BELLUS Health Inc +£0.3bn free cash outflow (see above) -£0.8bn disposal of investments, primarily Haleon stake 2,029 GSK 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 -1,741 25#262023 guidance upgraded¹ 2023 guidance¹ 2023 sales guidance composition¹ Vaccines Mid-teens % growth Sales 8% to 10% growth Speciality Medicines² High single-digit % growth Adj. operating profit 11% to 13% growth HIV High single-digit % growth Adj. earnings per share 14% to 17% growth General Medicines Low single-digit % growth Phasing considerations Sales FY sales to grow in the range 8-10%, with H2 sales growth below H1; Q3 sales growth slightly higher than Q4, primarily due to comparators Adj. Operating profit FY Adj. operating profit to grow in the range 11-13%; GSK H2 profit growth above H1, informed by investment phasing; Broadly similar Adj. operating profit growth anticipated across Q3 and Q4 All guidance, outlooks, ambitions and expectations should be read together with the guidance, assumptions and cautionary statement in the Q2 2023 earnings release and the 2022 Annual Report. 1. All excluding COVID-19 solutions and at CER 2. including HIV 26 26#27H2 2024 Q3 and Year-to-date 2024 results Full-year and Q4 2024 results Performance vs BIU 20211 Guidance 2025 Investor roadmap over next 18 months Execution Portfolio phase III and regulatory decisions² Q2 2023 Q2 and Half-year 2023 results Full-year 2023 upgraded guidance ✓ Therapy Area Strategy R&D priorities Arexvy US KK regulatory approval ☑ Arexvy second season data • BELLUS Health, Inc. acquisition completed SCYNEXIS, Inc. exclusive license 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 cabotegravir (long-acting), pre-exposure (EU) Vocabria, HIV treatment (CN) momelotinib MOMENTUM, myelofibrosis (US) Jemperli RUBY, 1L DMMR/MSI-H EC³ (US) Blenrep DREAMM-7/8, 2L+ multiple myeloma ° H1 2024 Q1 2024 results Q2 and Half-year 2024 results MenABCWY 1st gen (US, EU) 4 ° gepotidacin EAGLE-1, GC • momelotinib MOMENTUM, myelofibrosis (EU, JP) • Jemperli RUBY, 1L dMMR/MSI-H EC² (EU) • • Zejula FIRST IL maintenance ovarian cancer • Jemperli RUBY Part 2, 1L EC³ • • Capital Allocation and Distribution Investor Engagement completed Capital allocation R&D and BD priorities TA priorities GSK K > > > Full-year 2023 dividend declaration Meet the management, Oncology Roadshows Meet the Meet the Meet the management, management, HIV Infectious Diseases ☑ management, Respiratory/ Immunology Medical congresses Arexvy, RSV, 50-59 YOA (US, EU, JP) gepotidacin EAGLE-2/3, uUTI (US, EU) Nucala, nasal polyposis (JP) Nucala, severe asthma (CN) Nucala MATINEE, COPD depemokimab SWIFT-1/2, severe eosinophilic asthma depemokimab ANCHOR-1/2, CRSWNP Zejula ZEAL, IL maintenance NSCLC cobolimab COSTAR, 2L NSCLC Full-year 2024 dividend declaration 1. June 2021 Investor Update 2. Includes phase III data readouts and regulatory decisions with the applicable geography denoted in brackets 3. Endometrial cancer 4. Regulatory submission and acceptance 27 22#28Trust: delivering health impact sustainably Emma Walmsley, Chief Executive Officer GSK 28#29Purpose: to get ahead of disease together For health impact, shareholder returns and thriving people Six priority areas to build trust Access Environment Global health and health security Diversity, equity and inclusion Key highlights Access In July, Gavi announced the first nine new countries to be allocated doses of the RTS,S/AS01E vaccine against malaria from early 2024 Global Health and Health Security Gates Foundation and Wellcome announced funding for the phase III trial of M72/AS01E candidate vaccine against tuberculosis, developed up to phase II by GSK || Environment Selected by The Science Based Target Network to set science-based targets for nature, building on our existing nature targets Product governance Ethical standards GSK 29 20#30A focused global biopharma company with momentum and bold ambitions 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 Confident in ability to sustain profitable growth through the decade and beyond GSK 1. Medium-term is 2021-2026, excluding COVID-19 solutions 2. At constant exchange rates (CER) 30 30#31GSK Q&A 31#32Appendix GSK 32#332023 full year outlook considerations to support modelling Vaccines turnover Increase mid-teens %, excluding pandemic adjuvant sales Shingrix to increase high-teens % Flu to decrease around 20% Meningitis to increase mid to high-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 £800m GSK adj. operating profit is expected to increase between 11% and 13% The above items exclude the impact of COVID-19 solutions Specialty Medicines turnover Increase high single-digit % for Specialty Medicines, excluding Xevudy sales HIV to increase high single-digit % Oncology to decrease mid-teens %, before returning to growth in 2024 Adj. operating profit to adj. EPS items Interest: between £700m to £750m Share of associates: negligible Tax rate: around 15% Non-controlling interest: ViiV is main ongoing NCI, with Q1 2022 'Other' NCI not repeating GSK adj. EPS is expected to increase between 14% and 17% General Medicines turnover Increase low 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 54 of our second quarter 2023 earnings release, page 2 of our second 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. Interest expectation assumes no significant adverse movements in interest rates. 33 33#34Continuing operations basis for guidance 2022 2023 Q1 Q2 Q3 Q4 FY Q1 Q2 Including COVID-19 solutions Sales (Em) 7,190 6,929 7,829 7,376 29,324 6,951 7,178 Operating profit (£m) 1,943 2,008 2,605 1,595 8,151 2,092 2,170 Earnings per share (pence) post- 32.3 34.7 46.9 25.8 139.7 37.0 38.8 share consolidation COVID-19 solutions impact Sales 1,307 466 417 183 2,373 132 41 Operating profit 194 58 141 69 69 462 118 57 Earnings per share (pence) post- 4.1 1.2 2.9 1.5 9.7 2.5 1.2 share consolidation GSK 34 14#35Currency 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 quarterly Q1 Q2 Q3 Q4 Q1 Q2 US $ 1.34 1.26 1.18 1.19 1.22 1.25 Euro € 1.19 1.18 1.16 1.15 1.14 1.15 Japanese\ 156 162 161 165 162 173 Historical period end exchange rates US $ Euro € Japanese \ 1.31 1.21 1.11 1.20 1.24 1.26 1.18 1.16 1.13 1.13 1.14 1.17 160 165 160 159 165 183 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 Jun 2023 ($1.26/£1, €1.17/£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 -5%. 55 35#36Upcoming pipeline catalysts: 2023 and 2024 Regulatory submission & acceptance Regulatory decision Phase II Late stage readouts Phase III H2 2023 H12024 H2 2024 Infectious diseases HIV (VIIV) Respiratory/Immunology Oncology Opportunity driven Jemperli - RUBY, DMMR/MSI-H IL endometrial cancer momelotinib - MOMENTUM, myelofibrosis cabotegravir (long-acting) pre-exposure Vocabria HIV treatment RSV older adults vaccine candidate - ≥60 YoA US EU CN JP 55 US Jemperli - RUBY, DMMR/MSI-H 1L endometrial cancer momelotinib - MOMENTUM, myelofibrosis EU Nucala severe asthma CN EU, JP ― Nucala CRSWNP gepotidacin - EAGLE-2/3, UUTI Arexvy 50-59 YOA JP US, EU US, EU, JP Nucala CRSWNP momelotinib - MOMENTUM, myelofibrosis gepotidacin - EAGLE-2/3, UUTI Arexvy -50-59 YoA CN, JP JP US, EU US, EU, JP Blenrep - DREAMM-7, 2L+ multiple myeloma Blenrep - DREAMM-8, 2L+ multiple myeloma Jemperli - RUBY part 2, IL endometrial cancer MenABCWY vaccine 1st Gen US, EU Nucala MATINEE, COPD US, EU gepotidacin- - EAGLE-1, GC US, EU US, EU - Blenrep DREAMM-7, 2L+ multiple myeloma Blenrep - DREAMM-8, 2L+ multiple myeloma Arexvy 50-59 YoA Jemperli - RUBY part 2, IL endometrial cancer Zejula - FIRST, IL maintenance ovarian cancer gepotidacin - EAGLE-1, GC linerixibat - GLISTEN, cholestatic pruritus in PBC depemokimab - SWIFT-1/2, asthma depemokimab - ANCHOR-1/2, CRSWNP Nucala - MATINEE, COPD cobolimab - COSTAR, 2L NSCLC Zejula' - ZEAL, IL maintenance NSCLC GSK 1. Tesaro asset bepirovirsen B-TOGETHER, HBV MenABCWY vaccine 2nd Gen 36 36 US US 553#3768 potential new vaccines and medicines in pipeline Phase-32 assets 2904545 4429016 3993129 4382276 4396687 4077164 3943104 3536867 2556286 3186899 3494245 3772701 3882347 3923868 4182137 (VIR-7832) 3965193 5251738 cabotegravir (1265744) 3739937 Recombinant protein, adjuvanted* Bioconjugated recombinant protein, adjuvanted* Adjuvanted recombinant subunit mRNA* mRNA* 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) Maturation inhibitor Capsid protein inhibitor Capsid protein inhibitor Integrase inhibitor* 4004280 4011499 4524184 3888130 Anti-IL7 antibody* 1070806 Anti-IL18 antibody 4527226 (AL-101) 4074386 4381562 3745417 6097608 XMT-20563 (wholly owned by Mersana Theraprutics) belantamab (2857914) 4172239 Anti-sortilin antibody* Anti-LAG-3 antibody* Anti-PVRIG antibody* STING agonist Anti-CD96 antibody* STING agonist ADC* Anti-BCMA antibody DNMT1 inhibitor* C. difficile K. pneumoniae Cytomegalovirus' Seasonal flu COVID-19 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 HIV HIV HIV Multiple sclerosis Atopic dermatitis Alzheimer's disease Cancer Cancer Cancer Cancer Cancer Multiple myeloma Sickle cell disease Infectious diseases HIV (VIIV) Respiratory/Immunology Oncology Opportunity driven GSK *In-license 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. GSK has an exclusive global license option to co-develop and commercialise the candidate 4. Imminent study start 5. GSK has exclusive option to co-develop post phase II 6. Phase II/III study start expected in 2023 7. Phase II study start expected in 2023 8. Approved in US and EU 9. Phase III study start expected in 2023 10. Phase III trial in patients with progranulin gene mutation 37 32#3868 potential new vaccines and medicines in pipeline Phase II -19 assets Infectious diseases HIV (VIIV) Respiratory/Immunology Oncology Opportunity driven 3437949 4406371 3536852 3528869 4023393 4178116 5101956 5101955 4106647 4348413 3036656 sanfetrinem cilexetil (GV118819) BVL-GSK098 VIR-2482 3810109 Benlysta (belimumab) 3858279 belrestotug (4428859) 4532990 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 Leucyl t-RNA synthetase inhibitor* Serine beta lactamase inhibitor* Ethionamide booster* Neutralizing monoclonal antibody*5 Broadly neutralizing antibody* Anti-BLys antibody Anti-CCL17 antibody* Anti-TIGIT antibody* HSD17B13 siRNA* Shigella Malaria fractional dose MMRV new strain Therapeutic hepatitis B virus¹** MenABCWY, 2nd Gen Varicella new strain Adult pneumococcal disease, 24-valent Paediatric pneumococcal disease, 24-valent Human papillomavirus Gonorrhea¹ Tuberculosis Tuberculosis Tuberculosis Influenza HIV Systemic sclerosis associated interstitial lung disease Osteoarthritis pain**7 Non-small cell lung cancer Non-alcoholic steatohepatitis GSK *In-license 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. GSK has an exclusive global license option to co-develop and commercialise the candidate 4. Imminent study start 5. GSK has exclusive option to co-develop post phase II 6. Phase II/III study start expected in 2023 7. Phase II study start expected in 2023 8. Approved in US and EU 9. Phase III study start expected in 2023 10. Phase III trial in patients with progranulin gene mutation 38#3968 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) momelotinib (3070785) Jemperli (dostarlimab) Zejula (niraparib) Blenrep (belantamab mafodotin) cobolimab (4069889) linerixibat (2330672) 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* P2X2/P2X3 receptor antagonist* JAK1, JAK2 and ACVR1 inhibitor* Anti-PD-1 antibody* PARP inhibitor* Anti-BCMA ADC* Anti-TIM-3 antibody* IBAT inhibitor RSV older adults^8 Uncomplicated UTI** Hepatitis B virus** Meningitis B (infants US) MenABCWY, 1st Gen Complicated UTI⁹ Invasive candidiasis COPD Asthma** Frontotemporal dementia 10** Refractory chronic cough Myelofibrosis^ 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-license 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. GSK has an exclusive global license option to co-develop and commercialise the candidate 4. Imminent study start 5. GSK has exclusive option to co-develop post phase II 6. Phase II/III study start expected in 2023 7. Phase II study start expected in 2023 8. Approved in US and EU 9. Phase III study start expected in 2023 10. Phase III trial in patients with progranulin gene mutation 39#40Changes since Q1 2023 Changes on pipeline New to Phase II 4348413 - GMMA, gonorrhea 3858279 Anti-CCL17 antibody, osteoarthritis pain ** Achieved pipeline catalysts Regulatory submissions & acceptances Jemperli - RUBY, dMMR/MSI-H IL endometrial cancer Menveo - liquid formulation, Men ACWY New to Phase III ibrexafungerp - Antifungal glucan synthase inhibitor, invasive candidiasis camlipixant - P2X2/P2X3 receptor antagonist, refractory chronic cough Regulatory decisions Arexvy - Adjuvanted recombinant protein, RSV older adults Shingrix 18+ at increased risk of HZ Removed from Registration SKYCovione - Recombinant protein nanoparticle, adjuvanted, COVID-19 daprodustat - Prolyl hydroxylase inhibitor, anaemia of chronic kidney disease GSK ** Additional indications or candidates also under investigation 1. Tesaro asset Other events Infectious diseases HIV (VIIV) Respiratory/Immunology Oncology Opportunity driven US EU JP SS US, EU - MenABCWY Phase III data presentation at ESPID 4348413 - GMMA, gonorrhea - FDA Fast Track Designation cabotegravir (long-acting) pre-exposure Positive CHMP opinion - 3858279 - Anti-CCL17 antibody, osteoarthritis pain - FDA Fast Track Designation 3858279 - Anti-CCL17 antibody, diabetic peripheral neuropathic pain - FDA Fast Track Designation Jemperli - RUBY, dMMR/MSI-H 1L endometrial cancer - FDA Priority Review Jemperli - RUBY, DMMR/MSI-H IL endometrial cancer FDA Breakthrough Designation daprodustat - Positive CHMP opinion 40#41Glossary 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 Progression-free survival 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 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 41#42Use 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 42#43GSK gsk.com