Slide 1: Results Presentation for the full year ended 30 June 2025
19 August, 2025 Melbourne, Australia Results Presentation for the full year ended 30 June 2025 CSL Limited (ASX:CSL; USOTC:CSLLY) Please find attached the slides for the presentation on the full year results that will be given by the Chief Executive Officer and Chief Financial Officer shortly. The l
Slide 2: 2025 Full Year Results
2025 Full Year Results Paul McKenzie Chief Executive Officer Joy Linton Chief Financial Officer 19 August 2025 & Managing Director
Slide 3: Important Notice and Disclaimer
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 comple
Slide 4: CEO Overview
CEO Overview Paul McKenzie CEO & Managing Director 3 Driven by Our Promise
Slide 5: Agenda
Agenda 1 Introduction 2 FY25 Business Performance 3 Financials Strategic Transformation 4 Intent to Demerge CSL Seqirus 5 Outlook and FY26 Guidance 6 Q&A 4
Slide 6: Agenda
Agenda 1 Introduction 2 FY25 Business Performance 3 Financials Strategic Transformation 4 Intent to Demerge CSL Seqirus 5 Outlook and FY26 Guidance 6 Q&A 5
Slide 7: Strong performance in FY25
Strong performance in FY251 Major initiatives announced to drive further value creation Revenue +5% Leverage 1.8x Transformation initiatives NPATA2,3 +14% FCF6 +58% • Distinctive Portfolio Development & Commercialisation operating model NPAT3 +17% Dividend6 +12%* • Targeting annual pre-tax savings >
Slide 8: Agenda
Agenda 1 Introduction 2 FY25 Business Performance 3 Financials Strategic Transformation 4 Intent to Demerge CSL Seqirus 5 Outlook and FY26 Guidance 6 Q&A 7
Slide 9: CSL Behring Revenue $11,158m +6%
Revenue $11,158m +6%1 Therapy Revenue ($m) Change1 Highlights Major Brands • PRIVIGEN® / INTRAGAM®+8%, HIZENTRA® +6% • Six months of Medicare Part D Reform Ig 6,064 +7% – ~($100 million) impact • Robust demand across all core indications Albumin 1,297 +7% • Solid growth driven by China • IDELVION® r
Slide 10: CSL Seqirus Revenue $2,166m +2%
Revenue $2,166m +2%1 Therapy Revenue ($m) Change1 Highlights Major Brands • Revenue impacted by decline in US vaccination rates Egg Based 116 (17%) • Momentum in US paediatric segment Cell Culture 474 (12%) • Received preferential recommendation for FLUAD® in Germany and France for 60+ • Positive AC
Slide 11: CSL Vifor Revenue $2,234m +8%
Revenue $2,234m +8%1 Therapy Revenue ($m) Change1 Highlights Major Brands • Global volume growth Iron 1,034 +1% • Impacted by generic competition in EU • Increased FERINJECT® sales in China • VELPHORO® – Strong growth from inclusion in TDAPA a Nephrology • MIRCERA® Dialysis 871 +10% – Market leader
Slide 12: Agenda
Agenda 1 Introduction 2 FY25 Business Performance 3 Financials Strategic Transformation 4 Intent to Demerge CSL Seqirus 5 Outlook and FY26 Guidance 6 Q&A 11
Slide 13: Financials
Financials Joy Linton CFO 12 Driven by Our Promise
Slide 14: NPATA
NPATA2,3 $3,303m FY24 FY25 Change $84m FX Rep @CC %1 NPATA $2,907m $3,303m +14% Acquired intellectual $3,219m property amortisation ($301m) ($364m) Other acquisition and ($84m) $30m disposal adjustments $2,907m Tax $61m $57m NPATA Attributable to NCI $131m $191m NPAT $2,714m $3,217m +19% NPAT Attrib
Slide 15: Financial Highlights
CSL Group R&D Financial Highlights • Prioritising growth opportunities • FY26 guidance: ~US$1.35b FY24 FY25 FY25 Change US$ Millions Rep Rep at CC 1 % 1 G&A Total Revenue 14,800 15,558 15,587 5% • FY25 in line with guidance Gross Profit4 8,006 8,443 8,509 6% • FY26 guidance: ~US$1.0b GP %4 54.1% 54.
Slide 16: CSL Behring Financial Highlights
Segment Financial Highlights Continued Gross Margin Improvements Add Rika + INomi benefits CSL Behring • Optimise donor fees Change CPL Reduction • RIKA and I-Nomi 1 • Network efficiencies US$ millions reported FY24 FY25 % at CC Sales 10,334 10,930 6% • ANDEMBRY® Other Revenue 274 228 (16%) New Prod
Slide 17: Financial Highlights: CSL Seqirus and CSL Vifor
Segment Financial Highlights CSL Seqirus CSL Vifor Change Change 1 1 US$ millions reported FY24 FY25 % at CC US$ millions reported FY24 FY25 % at CC Sales 1,896 1,906 - Sales 2,029 2,199 8% Other Revenue 232 260 11% Other Revenue 35 35 - Total Revenue 2,128 2,166 2% Total Revenue 2,064 2,234 8% Gros
Slide 18: Share buyback reintroduced
Share buyback reintroduced US$b • Strong cash flow has significantly Net Debt/EBITDA de-levered the Balance Sheet 11.0 2.7 x 3.0 2.2 x • Sufficient capacity to support investment 2.5 in growth opportunities 1.8 x 10.0 2.0 • Multi-year, on-market share buyback as part of refreshed capital management
Slide 19: Agenda
Agenda 1 Introduction 2 FY25 Business Performance 3 Financials Strategic Transformation 4 Intent to Demerge CSL Seqirus 5 Outlook and FY26 Guidance 6 Q&A 18
Slide 20: Strategic transformation to deliver value
Reduce Strategic transformation to deliver value non-clinical fixed cost in R&D Annual pre-tax savings of A refocused Operating model >$500m by the end of FY28* CSL will… complexity has increased with Direct savings to Distinctive accelerate clinical pipeline growth, against a and priority programs
Slide 21: Agenda
Agenda 1 Introduction 2 FY25 Business Performance 3 Financials Strategic Transformation 4 Intent to Demerge CSL Seqirus 5 Outlook and FY26 Guidance 6 Q&A 20
Slide 22: Intention to demerge CSL Seqirus to CSL shareholders
Intention to demerge CSL Seqirus to CSL shareholders Strong strategic rationale to • CSL Seqirus to be demerged, enhance shareholder value creating an ASX listed global Reduces complexity, making businesses vaccine leader more agile and efficient to manage • Company to be chaired by Mr Reinvigorates
Slide 23: Two global leaders in healthcare
Two global leaders in healthcare • Global #1 in ~$38bn plasma protein therapies industry • Global #2 in ~$7bn influenza vaccine industry with • Global #1 in ~$5bn iron industry attractive long-term fundamentals • Leading manufacturer of plasma-derived therapies, • Highly differentiated and market le
Slide 24: Agenda
Agenda 1 Introduction 2 FY25 Business Performance 3 Financials Strategic Transformation 4 Intent to Demerge CSL Seqirus 5 Outlook and FY26 Guidance 6 Q&A 23
Slide 25: Outlook
Outlook CSL Behring CSL Seqirus • Robust patient demand across • Seasonal influenza revenue to stabilise multiple areas of high unmet need • Substantially lower contribution from • HIZENTRA® to grow strongly avian influenza and COVID-19 • PRIVIGEN® impacted by tender losses • Leverage differentiated
Slide 26: Agenda
Agenda 1 Introduction 2 FY25 Business Performance 3 Financials Strategic Transformation 4 Intent to Demerge CSL Seqirus 5 Outlook and FY26 Guidance 6 Q&A 25
Slide 27: CSL Contacts
CSL Contacts Chris Cooper Investor Relations +61 455 022 740 chris.cooper@csl.com.au Bernard Ronchi Investor Relations +61 431 060 964 bernard.ronchi@csl.com.au Jimmy Baker Investor Relations +61 450 909 211 jimmy.baker@csl.com.au
Slide 28: Notes
Notes (#) Constant currency removes the impact of exchange Summary NPAT attributable to members Summary Revenue rate movements to facilitate comparability of operational of parent entity Reported revenue $15,558m performance for the Group. This is done in three parts: a) Reported net profit after ta
Slide 29: Appendix
Appendix 28
Slide 30: CSL Behring – Key Products
Appendix A CSL Behring – Key Products CSL Behring Therapy Group Sales $m Change1 % FY25 Revenue By Therapy Group $m Privigen IVIG 3,904 8% IVIG $3,986 36% Hizentra SCIG 2,078 6% SCIG $2,078 19% Albumin Albumin 1,297 7% CSL Haemophilia $1,488 13% Idelvion Haemophilia 853 10% Behring Albumin $1,297 12
Slide 31: CSL Seqirus & CSL Vifor – Key Products
Appendix B CSL Seqirus & CSL Vifor – Key Products FY25 Revenue By Therapy Group $m Sales Change CSL Seqirus Therapy Group $m 1% Cell Culture $474 22% Fluad Adjuvanted 901 (14%) Adjuvanted $901 42% Flucelvax Cell culture 474 (12%) Egg Based $116 5% CSL Seqirus Pre-Pandemic $197 9% Afluria Egg-based 1
Slide 32: R&D Portfolio Highlights – FY25
For more information visit www.CSL.com R&D Portfolio Highlights – FY25 Immunoglobulins Cardiovascular Vaccines & Renal • HIZENTRA® PFS 50mL • Clazakizumab (ESKD) • CSL403 (aTIVc) • JP submission complete • Enrolment ongoing • UK & EU submissions complete • EU approval complete • FDA Phase III DAP su