CSL (CSL) investor relations material

Strategic priorities and market outlook

• Leadership is focused on restoring credibility, prioritizing shareholder returns, and emphasizing transparency and decisive action to address challenges and market concerns.

• The strategy centers on rare diseases with high unmet need, leveraging IG leadership, expanding into new indications and geographies, and diversifying into hemophilia, acute hemorrhagic control, hereditary angioedema, nephrology, albumin, and iron therapies.

• The vertically integrated IG franchise is central, with a resilient business model, robust plasma collection network, and ongoing operational improvements.

• Transformation initiatives aim to deliver $550 million in annual savings by FY28, fueling reinvestment and supporting disciplined capital allocation with a net debt/EBITDA target of 1.5–2x.

• The company targets mid single-digit corporate revenue growth, high single-digit IG growth through FY28, and high single-digit NPAT growth beyond FY26, with margin expansion driven by efficiency and innovation.

Operational and financial efficiency

• Operational excellence and yield improvement programs are reducing manufacturing expenses by 15% by FY26 and over 25% by FY28, with Horizon One and Two driving up to 20% plasma savings by FY32.

• Plasma collection efficiency has improved, with a 10% increase in donor plasma volume, a 15% reduction in cost per liter, and donor fees down 25% since the COVID peak.

• Closure of underperforming plasma centers, consolidation of R&D sites, and streamlining of corporate functions are optimizing the operational footprint.

• Advanced automation, digitization, and continuous improvement loops are being implemented across manufacturing and supply chain operations.

• Capital expenditure guidance for FY26 is $800 million (±$100 million), with $1.5 billion planned for Horizon Two capacity expansion in the US between FY26 and FY30.

Innovation, portfolio development, and commercialization

• Flagship IG products Privigen and Hizentra maintain global leadership, with ongoing lifecycle management, label expansions, and next-generation product development.

• The company leverages AI and targeted campaigns to drive diagnosis and market expansion, especially in primary and secondary immunodeficiency.

• Hemophilia portfolio led by IDELVION and HEMGENIX, with HEMGENIX positioned as a transformative gene therapy; acute hemorrhagic control franchise holds ~50% global revenue share.

• HAE portfolio strengthened by Andembri/ANDEMBRY, showing rapid global uptake, best-in-class convenience, and regulatory endorsements.

• Nephrology growth driven by FILSPARI and TAVNEOS, both recognized in clinical guidelines and expanding geographically; business development focuses on assets with $500 million to $2 billion peak sales potential.