RSV Seasonal Vaccine Introduction and Growth Strategy

Improved 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

View entire presentation