CSL Ltd Annual Report 2021

Annual General Meeting The 2021 Annual General Meeting (AGM) of CSL Limited (ABN 99 051 588 348) will be held online on Tuesday, 12 October 2021 at 10am (Melbourne time). Contents 1 Chair and CEO message 2 2 2021 Performance 6 Business performance highlights 6 Financial highlights 7 3 Our Company 8 CSL at a glance 8 Our businesses 8 COVID-19: Our efforts 9 Our locations 10 Our product portfolio 11 Our research and development pipeline 11 4 Our Strategy and Performance 14 Our 2030 strategy 14 How we create value 16 United Nations sustainable development goals 18 Reported results 18 Our operating review 18 5 Our Material Risks 20 Patient safety and product quality 20 Product innovation and competition 20 Supply, capacity and operations 20 Market access 21 People and culture 21 Privacy and cybersecurity 21 6 Our Future Prospects 22 Business strategies, prospects and likely developments 22 7 Powered by Innovation 24 Expanding our R&D footprint 24 Our therapeutic areas 25 Our strategic scientific platforms 28 Focus on influenza vaccine technologies 28 Global collaborations for innovation 29 Strategic support for innovative medical research 29 Listening to out patients’ needs 30 Clinical trial improvements which will benefit patients 30 Clinical trials in progress and new 30 Delivering innovative solutions to unprecedented challenges 31 New products to market 34 8 Global Reach and Impact 36 Commercial strength 36 Global reach and focus 36 Donor management 37 Focus on efficiency, standardised manufacturing processes and integrated supply chain 38 Secure and reliable supply 38 Environment, health and safety 39 9 A Trusted Health Partner 43 Product quality and safety 43 Value and access 44 Public policy engagement 45 Influenza pandemic and emergency response 47 Relationships with patient groups 47 Responsible marketing and promotion 48 Privacy and cybersecurity 48 Ethical conduct 49 10 Promising Futures 50 Diversity, equity and inclusion (DE&I) 50 Encouraging, developing and celebrating the promise of our people 51 Safety and wellbeing 53 11 Our Communities 54 Our approach 54 Support for patient communities 55 Support for biomedical communities 56 12 Governance 60 Governance structure 60 Board composition 60 Board of Directors 61 Board committees 64 Leadership team 64 Ethics and transparency 66 Disclosure 66 Corporate governance 66 Risk management 66 Tax transparency 66 13 Financial Performance 67 Directors’ Report 68 Auditor’s Independence Declaration 73 Consolidated Statement of Comprehensive Income 106 Consolidated Balance Sheet 107 Consolidated Statement of Changes in Equity 108 Consolidated Statement of Cash Flows 109 Notes to the Financial Statements 110 Directors’ Declaration 148 Independent Auditor’s Report 149 14 Share Information 155 15 Key Performance Data Summary 157 16 Medical Glossary 158 CSL Calendar 2021 18 August Annual profit and final dividend announcement 2 September Shares traded ex-dividend 3 September Record date for final dividend 30 September Final dividend paid 12 October Annual General Meeting 31 December Half year ends 2022 16 February Half-year profit and interim dividend announcement 7 March Shares traded ex-dividend 8 March Record date for interim dividend 6 April Interim dividend paid 30 June Full year ends 17 August Annual profit and final dividend announcement 6 September Shares traded ex-dividend 7 September Record date for final dividend 5 October Final dividend paid 12 October Annual General Meeting 31 December Half year ends About this report This Annual Report combines CSL’s financial and non-financial performance in one comprehensive account, linking our sustainability and strategic priorities to our business results. Unless otherwise stated, this report covers CSL’s subsidiaries as listed on page 138. CSL’s biennial sustainability materiality assessment was conducted in 2019/20 and will be repeated in 2021/22. The prioritised results of our fourth assessment (2019/20) are listed on page 17 and detailed throughout this report. In addition to an independent audit of our consolidated financial accounts, limited assurance on a selection of corporate responsibility (CR) metrics has been provided by Ernst & Young, and an assurance statement for non-financial indicators, along with more detailed Group and CR information, including our materiality assessment, can be found on CSL.com (Our Company > Corporate Responsibility). Find out more CSL.com