CSL (CSL) Investor update summary

Interim CEO 90 day review

• Performance outcomes have not met expectations, impacting growth and investor confidence.

• Initiatives are in place to accelerate execution and restore profitable growth.

• Strengths include a strong culture, rare diseases franchise, plasma collection, and influenza vaccines.

• Recognized need for transformation to return to sustainable growth.

Market and portfolio overview

• Plasma protein franchise maintains market leadership with significant unmet needs and growth potential.

• Only about 35% of patients are diagnosed, indicating substantial room for expansion.

Historical performance and challenges

• High growth was driven by leadership in key markets, portfolio expansion, and R&D success.

• COVID period brought cost pressures, infrastructure build, and a shift away from product life cycle management.

• Post-COVID, challenges included underperformance of acquisitions, declining R&D productivity, and increased competition.