2023 Guidance and Q3 Earnings

Improved 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

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