CSL Ltd Annual Report 2021

Valuation assumptions and fair values of equity instruments granted The model inputs for share-based payments granted during the year ended 30 June 2021 included: Fair Value 19 Share Price Exercise Price Expected Volatility 20 Life Assumption Expected Dividend Yield Risk-free Interest Rates (A$) (A$) (A$) Performance Share Units (by grant date) 1 September 2020 – Tranche 1 $287.79 $290.79 Nil 38.98% 12 months 1.04% 0.25% 1 September 2020 – Tranche 2 $284.81 $290.79 Nil 32.55% 24 months 1.04% 0.25% 1 September 2020 – Tranche 3 $281.87 $290.79 Nil 28.55% 36 months 1.04% 0.25% 1 September 2020 – Tranche 4 $278.95 $290.79 Nil 27.18% 48 months 1.04% 0.25% 1 March 2021 – Tranche 1 $266.12 $267.58 Nil 24.11% 6 months 1.09% 0.11% 1 March 2021 – Tranche 2 $263.24 $267.58 Nil 34.78% 18 months 1.09% 0.11% 1 March 2021 – Tranche 3 $260.39 $267.58 Nil 31.01% 30 months 1.09% 0.11% 1 March 2021 – Tranche 4 $257.56 $267.58 Nil 27.94% 42 months 1.09% 0.11% 1 April 2021 – Tranche 1 $265.48 $266.68 Nil 24.00% 5 months 1.07% 0.08% Restricted Share Units (by grant date) 1 September 2020 – Tranche 1 $290.79 $290.79 Nil N/A Nil 1.04% 0.25% 1 September 2020 – Tranche 2 $289.30 $290.79 Nil 51.10% 6 months 1.04% 0.25% 1 September 2020 – Tranche 2 $287.79 $290.79 Nil 38.98% 12 months 1.04% 0.25% 1 September 2020 – Tranche 3 $286.31 $290.79 Nil 34.14% 18 months 1.04% 0.25% 1 September 2020 – Tranche 3 $284.81 $290.79 Nil 32.55% 24 months 1.04% 0.25% 1 September 2020 – Tranche 4 $283.35 $290.79 Nil 30.42% 30 months 1.04% 0.25% 1 September 2020 – Tranche 4 $281.87 $290.79 Nil 28.55% 36 months 1.04% 0.25% 1 September 2020 – Tranche 5 $278.95 $290.79 Nil 27.18% 48 months 1.04% 0.25% 1 March 2021 – Tranche 1 $267.58 $267.58 Nil N/A 0 months 1.09% 0.11% 1 March 2021 – Tranche 2 $266.12 $267.58 Nil 24.11% 6 months 1.09% 0.11% 1 March 2021 – Tranche 3 $264.68 $267.58 Nil 39.90% 12 months 1.09% 0.11% 1 March 2021 – Tranche 4 $263.24 $267.58 Nil 34.78% 18 months 1.09% 0.11% 1 March 2021 – Tranche 5 $261.82 $267.58 Nil 31.94% 24 months 1.09% 0.11% 1 March 2021 – Tranche 6 $260.39 $267.58 Nil 31.01% 30 months 1.09% 0.11% 1 March 2021 – Tranche 7 $258.98 $267.58 Nil 29.44% 36 months 1.09% 0.11% 1 March 2021 – Tranche 8 $257.56 $267.58 Nil 27.94% 42 months 1.09% 0.11% 1 April 2021 – Tranche 1 $265.48 $266.68 Nil 24.00% 5 months 1.07% 0.08% 1 April 2021 – Tranche 2 $264.08 $266.68 Nil 27.26% 11 months 1.07% 0.08% 1 April 2021 – Tranche 3 $261.26 $266.68 Nil 32.26% 23 months 1.07% 0.08% 1 April 2021 – Tranche 4 $258.47 $266.68 Nil 29.47% 35 months 1.07% 0.08% Rights (by grant date) 27 August 2020 – Tranche 1 $293.64 $295.05 Nil 50.90% 6 months 1.00% 0.25% 27 August 2020 – Tranche 2 $292.16 $295.05 Nil 38.59% 12 months 1.00% 0.25% GESP (by grant date) 21 4 September 2020 – Tranche 1 $31.88 $279.05 $247.17 51.10% 6 months 1.04% 0.25% 5 March 2021 – Tranche 1 $21.14 $248.58 $227.44 24.11% 6 months 1.09% 0.11% 19 PSUs are subject to a ROIC based performance measure. 20 T he expected volatility is based on the historic volatility (calculated based on the remaining life assumption of each equity instrument, adjusted for any expected changes). 21 T he fair value of GESP equity instruments is estimated based on the assumptions prevailing on the grant date. In accordance with the terms and conditions of the GESP plan, shares are issued at a 15% discount to the lower of the ASX market price on the first and last dates of the contribution period. CSL Limited Annual Report 2020/21 142 Notes to the Financial Statements