CSL (CSL) AGM 2025 summary

Opening remarks and agenda

• The meeting opened with a patient story and an overview of the hybrid format, safety procedures, and voting logistics.

• The Company Secretary welcomed attendees and outlined participation instructions for both in-person and online shareholders.

• Attendees were guided on how to submit questions and participate in voting.

• The agenda included a review of financial performance, board updates, shareholder questions, and voting on resolutions.

Financial performance review

• FY2025 revenue rose 5% at constant currency to $15.6 billion, with NPATA up 14% to $3.3 billion, net profit after tax up 17% to $3 billion, and free cash flow up 58%.

• CSL Behring and Vifor divisions drove growth, while Seqirus faced headwinds from declining U.S. influenza vaccination rates and China’s cost controls on Albumin.

• FY2026 revenue growth outlook was revised down to 2%-3%, and NPATA growth to 4%-7%, excluding restructuring costs.

• FY2027 and FY2028 NPATA growth expectations reduced to high single digits due to US vaccination uncertainty.

• A final dividend of $2.92 per share was declared, up 12% from the previous year.

Board and executive committee updates

• Dr. Megan Clark and Ms. Marie McDonald retired; Dr. Brian Daniels and Mr. Cameron Price were elected as new directors.

• Mr. Costa Saroukos and Mr. Gordon Naylor will join the board in December 2025.

• Dr. Mary Oates (COO), Andy Schmeltz (CCO), and Ken Lim (CFO) were appointed to executive roles.