2026 EMTN – Trust Deed

130002022423.1

1. HALEON UK CAPITAL PLC, a company incorporated under the laws of England and Wales, whose registered office is at Building 5, First Floor, The Heights, Weybridge, Surrey, KT13 0NY, United Kingdom ("Haleon UK Capital");
2. HALEON NETHERLANDS CAPITAL B.V., a company incorporated under the laws of the Netherlands, whose registered office is at Building 5, First Floor, The Heights, Weybridge, Surrey, KT13 0NY, United Kingdom ("Haleon Capital BV", together with Haleon UK Capital, the "Issuer" and each an "Issuer");
3. HALEON PLC, a company incorporated under the laws of England and Wales, whose registered office is at Building 5, First Floor, The Heights, Weybridge, Surrey, KT13 0NY, United Kingdom (the "Guarantor"); and
4. DEUTSCHE TRUSTEE COMPANY LIMITED, a company incorporated under the laws of England and Wales, whose registered office is at 21 Moorfields, London, EC2Y 9DB, United Kingdom (the "Trustee", which expression shall, wherever the context so admits, include such company and all other persons or companies for the time being the trustee or trustees of these presents) as trustee for the Noteholders and the Couponholders (each as defined below).

1. This Third Supplemental Trust Deed is supplemental to:

   1. the Trust Deed dated 16 March 2022 (the "Principal Trust Deed") made between the Issuers, the Guarantor, GlaxoSmithKline plc and the Trustee and relating to the

      £10,000,000,000 Euro Medium Term Note Programme (the "Programme") established by the Issuers;

   2. the First Supplemental Trust Deed dated 11 May 2023 (the "First Supplemental Trust Deed") made between the Issuers, the Guarantor and the Trustee and modifying the provisions of the Principal Trust Deed; and

   3. the Second Supplemental Trust Deed dated 3 May 2024 (together with the Principal Trust Deed and the First Supplemental Trust Deed, the "Subsisting Trust Deeds") made between the Issuers, the Guarantor and the Trustee and further modifying the provisions of the Principal Trust Deed.

2. On 7 May 2026, the Issuers published a modified and updated Base Listing Particulars relating to the Programme.

3. The Issuers, the Guarantor and the Trustee have agreed to enter into this Third Supplemental Trust Deed to concur in making certain modifications to the Principal Trust Deed (as previously modified and restated) hereinafter contained in order to reflect the modifications and updates to the Base Listing Particulars relating to the Programme referred to in recital (B) above.

1. SUBJECT as hereinafter provided and unless there is something in the subject matter or context inconsistent therewith all words and expressions defined in the Principal Trust Deed (as previously modified and restated) shall have the same meanings in this Third Supplemental Trust Deed.

2. SAVE:

   1. in relation to all Series of Notes the first Tranche of which was issued on or prior to the day last preceding the date of this Third Supplemental Trust Deed; and

   2. for the purpose (where necessary) of construing the provisions of this Third Supplemental Trust Deed,

      with effect on and from the date of this Third Supplemental Trust Deed:

      1. the Principal Trust Deed (as previously modified and restated) is further modified and restated in such manner as would result in the Principal Trust Deed as so modified and restated (and being in the form set out in the Schedule hereto); and

      2. the provisions of the Principal Trust Deed (as previously modified and restated) insofar as the same still have effect shall cease to have effect and in lieu thereof the provisions of the Principal Trust Deed as so modified and restated (and being in the form set out in the Schedule hereto) shall have effect.

3. FOR the avoidance of doubt, the Subsisting Trust Deeds (without the modifications made hereby) shall continue to have effect in relation to all Series of Notes the first Tranche of which was issued on or prior to the day last preceding the date of this Third Supplemental Trust Deed.

4. THE Subsisting Trust Deeds shall henceforth be read and construed as one document with this Third Supplemental Trust Deed.

THIS Third Supplemental Trust Deed may be executed and delivered in any number of counterparts, all of which, taken together, shall constitute one and the same deed and any of the parties to this Third Supplemental Trust Deed may enter into the same by executing and delivering a counterpart.

Trust Deed

Haleon plc

and

Haleon UK Capital plc

and

Haleon Netherlands Capital B.V.

and

Deutsche Trustee Company Limited

£10,000,000,000 Euro Medium Term Note Programme

16 March 2022

AS AMENDED AND RESTATED ON 7 MAY 2026

1. DEFINITIONS 1

2. AMOUNT AND ISSUE OF THE NOTES 10

3. FORMS OF THE NOTES 13

4. FEES, DUTIES AND TAXES 15

5. COVENANT OF COMPLIANCE 15

6. CHANGE OF TAXING JURISDICTION 15

7. CANCELLATION OF NOTES AND RECORDS 16

8. GUARANTEE AND INDEMNITY 17

9. NON-PAYMENT 18

10. PROCEEDINGS, ACTION AND INDEMNIFICATION 18

11. APPLICATION OF MONEYS 18

12. NOTICE OF PAYMENTS 19

13. INVESTMENT BY TRUSTEE 19

14. PARTIAL PAYMENTS 20

15. COVENANTS BY THE ISSUERS AND THE GUARANTOR 20

16. REMUNERATION AND INDEMNIFICATION OF TRUSTEE 22

17. SUPPLEMENT TO TRUSTEE ACTS 24

18. TRUSTEE'S LIABILITY 28

19. TRUSTEE CONTRACTING WITH THE ISSUER OR HALEON PLC 29

20. WAIVER, AUTHORISATION AND DETERMINATION 29

21. HOLDER OF DEFINITIVE NOTE ASSUMED TO BE COUPONHOLDER 32

22. NO NOTICE TO COUPONHOLDERS 32

23. CURRENCY INDEMNITY 32

24. NEW TRUSTEE 32

25. TRUSTEE'S RETIREMENT AND REMOVAL 33

26. TRUSTEE'S POWERS TO BE ADDITIONAL 34

27. NOTICES 34

28. GOVERNING LAW AND SUBMISSION TO JURISDICTION 35

29. CONTRACTS (RIGHTS OF THIRD PARTIES) ACT 1999 36

30. GENERAL 36

SCHEDULE 1 37

Terms and Conditions of the Notes 37

SCHEDULE 2 76

Forms of Global and Definitive Notes, Coupons and Talons 76

Part 1 - Forms of Temporary Global Note 76

Part 2 - Forms of Permanent Global Note 94

Part 3 - Form of Definitive Note 112

Part 4 - Form of Coupon 116

Part 5 - Form of Talon 118

SCHEDULE 3 120

Provisions for Meetings of Noteholders 120

SIGNATORIES TO THE TRUST DEED 128