CSL Ltd Annual Report 2021

Directors’ Report The Board of Directors of CSL Limited (CSL) has pleasure in presenting their report on the consolidated entity for the year ended 30 June 2021. 1. Principal activities, strategy and operating model The principal activities of the consolidated entity during the financial year were the research, development, manufacture, marketing and distribution of biopharmaceutical and allied products. CSL is a leader in global biotechnology, and develops and delivers innovative medicines that save lives, protect public health and help people with life-threatening medical conditions to live full lives. CSL’s strategy is delivered through its five strategic objectives for 2030: focus, innovation, efficiency and reliable supply, sustainable growth and digital transformation. More detail on CSL’s performance against its 2030 strategic objectives can be found in Our Strategy and Performance. CSL’s operating model for its two businesses, CSL Behring and Seqirus, leverage multifunctional teams that connect to share best practice. CSL’s operating model is based around four key value creation activities: early stage research, product translation, manufacturing and patient access. CSL’s commercial and functional areas operate at a global level, with the Global Leadership Group responsible for the day-to-day management of the group and delivery of CSL’s strategic objectives. More detail on CSL’s operations can be found in Our Company and Our Strategy and Performance. 2. Operating and Financial Review CSL discloses financial performance primarily by business. This provides the most meaningful insight into the nature and financial outcomes of CSL’s activities and facilitates greater comparability against industry peers. Information on the operations and financial position for CSL and likely developments in the Group’s operations in future financial years is set out in the Operating and Financial Review (OFR). The OFR consists of the Chair and CEOmessages, Our Strategy and Performance, Our Company, Our Material Risks and Our Future Prospects accompanying this Directors’ Report. 3. Directors The directors who served at any time during 2020/21 or up until the date of this Directors’ Report were Dr BrianMcNamee AO, Mr Paul Perreault, Professor Andrew Cuthbertson AO, Mr Bruce Brook, Ms Carolyn Hewson AO, Dr Megan Clark AC, Mr Abbas Hussain, Ms Marie McDonald, Ms Christine O’Reilly and Mr Pascal Soriot. Further details of the current directors are set out in the Governance section of CSL’s 2020/2021 Annual Report or on CSL.com . These details include the period for which each director held office up to the date of this Directors’ Report, their qualifications, independence, experience and particular responsibilities, the directorships held in other listed companies since 1 July 2018 and the period for which each directorship has been held. Ms Christine O’Reilly served as a Non-Executive Director of CSL fromFebruary 2011 until her retirement on 15 October 2020. Mr Pascal Soriot was appointed as a Non-Executive Director of CSL with effect from 19 August 2020, and served as a Non-Executive Director of CSL until his retirement on 1 February 2021. Mr Abbas Hussain served as a Non-Executive Director of CSL from 13 February 2018 until his resignation on 25 June 2021. Ms Alison Watkins was appointed as a Non-Executive Director of CSL with effect from 19 August 2021. 4. Company secretary Ms Fiona Mead, BCom/LLB (Hons) FGIA, GAICD, was appointed and commenced in the position of Company Secretary and Head of Corporate Governance on 4 June 2018 and continues in office as at the date of this report. Ms Mead was previously the company secretary and a member of the executive leadership team at Tabcorp Holdings Limited. Prior to that, she was the company secretary at Asciano Limited. Ms Mead also served as assistant company secretary at Telstra Corporation. CSL Limited Annual Report 2020/21 68