CSL Ltd Annual Report 2021

6. Executive Key Management Personnel Outcomes in 2021 5 T he NPAT KPI target is NPAT at constant currency set at financial year 2021 target rates. As constant currency financials set at budget rates are not audited, the reported NPAT outcome has been disclosed. EY undertook agreed-upon procedures on the constant currency model and process. 6.1 CSL and Executive KMP Performance 2021 has been another year of strong performance outcomes in an unprecedented time. Financial performance has been solid and we continue to develop and progress our research and development pipeline, consistently innovating to ensure a sustainable business. In reviewing both the CSL financial outcomes of NPAT and CFO, along with the Executive KMP individual outcomes, the Board has considered the quality of outcomes, management of risk and the impact of COVID-19. The Board has determined not to use any discretion to adjust STI financial metric outcomes. The Board has exercised its discretion on Mr Perreault’s individual outcomes relating to reduced plasma collections due to factors associated with COVID-19. The following performance outcomes, as aligned to the CSL strategy, were achieved resulting in an average overall STI payment outcome of 102% of target level opportunity across the Executive KMP (see Table 3). The minimum STI earned as a percentage of target level opportunity was 86% and the maximumwas 113% – the latter was 75% of the maximum STI outcome that could be achieved. Additional quantitative objectives, which were also integral to the achievement of individual performance, were considered by the Board when assessing Executive KMP performance. However, these remain confidential for commercial reasons. Table 2: Achievements in 2021 Measure and commentary Threshold 50% Target 100% Maximum 150% Financials • Solid NPAT result against target 5 – reported NPAT of US$2,375.0m • Strong CFO outcome significantly exceeding target – reported CFO of US$3,621.9m US$2,102.5m US$2,214.9m US$2,322.5m US$2,461.0m US$2,554.8m US$2,830.1m People • Critical role succession plans and supporting employee development plans in place • Employee engagement outcomes on par with prior year • Transformation of our organisational design across enabling functions and End to End Supply Chain to ensure structure and processes are in place to support our 2030 strategy • Progress against FY21 gender diversity objectives – surpassed our Board target of 30% female representation, achieved our Senior Executive target of 30% female representation and fell below our People Leader target of 50% female representation – remaining steady at 44% • Created an internal CSL global diversity network of CSL leaders to mentor and sponsor diverse rising talent, build CSL brand ambassadors, and provide feedback on future Diversity, Equity and Inclusion initiatives • Named on both the Refinitiv’s Diversity & Inclusion Top 100 list and Forbes World’s Best Employers list Focus • Global commercialisation and license agreement with uniQure for Haemophilia B Gene Therapy candidate • R&D partnership with BIOPOLE and Baselaunch in Switzerland to support the growth of our research pipeline and cutting edge therapeutics Innovation • FLUAD ® QIV launched in the US, ALBUNATE ® launched in China, AFSTYLA ® and IDELVION ® launched in Argentina and Taiwan and HIZENTRA ® launched in Colombia • Achieved 28 product registrations or new indications across the globe • Manufacture of the AstraZeneca COVID-19 vaccine in Australia • Progression of the majority of our clinical portfolio projects • CSL112 continues to progress with over 13,000 patients enrolled • Commenced a Phase II study for an adjuvanted QIV cell-based influenza vaccine ● ● ● ● ● CSL Limited Annual Report 2020/21 85