CSL Ltd Annual Report 2021

6.3 2021 Discretionary Bonus – Professor Cuthbertson In 2020, when Professor Cuthbertson transitioned into the part time position of Special Advisor to the CEO and Executive Director, the Board determined that Professor Cuthbertson would not be eligible for any future grants of variable reward, STI or LTI, under the executive remuneration framework. Following the extraordinary efforts and increased workload outside of contractual hours of Professor Cuthbertson in 2021 on CSL’s global response to the COVID-19 pandemic, a discretionary bonus payment is being made. The Board is recognising Professor Cuthbertson’s work on assisting the State and Federal governments and some research institutes to develop their responses to the COVID-19 pandemic. This included leading CSL’s work with the Australian Government to manufacture the AstraZeneca vaccine, and the partnership with the University of Queensland in the early stages of its UQ-CSL v451 COVID-19 vaccine candidate, along with the renewed Australian BioSecurity agreement with the Australian Government. The Board has determined a cash payment of US$483,067 to be paid in September 2021. 6.4 LTI Outcomes by Executive KMP in 2021 6.4.1 LTI awards tested in 2021 In 2021, in the course of annual performance testing, four LTI grants were tested across both legacy and current LTI awards. This is the final testing of CSL’s legacy Option and Performance Right awards. Due to CSL’s continued outstanding performance against a peer group of global pharmaceutical and biotechnology companies, and CSL’s strong share price growth over the performance period, vesting value outcomes were high. The table below shows the performance of CSL against the targets with vesting occurring in August 2020 and September 2020. 7 The remaining 20% of this tranche has lapsed – there is no retest. 8 The remaining 6.67% of this tranche has lapsed – there is no retest. 9 The remaining 6.67% of this tranche has lapsed – there is no retest. Table 5: LTI Awards Tested in 2021 Grant Date Security Tranche Performance Period Exercise Price A$ Performance Outcome Vesting Outcome 1 October 2016 Option 1 1 July 2016 – 30 June 2020 107.25 Individual Performance 100% Right 1 – RTSR ranking – 95th %ile against a peer group of global Pharmaceutical and Biotechnology companies 100% Right 2 Annual EPS growth at 14.6% 100% Right 3 Annual EPS growth at 14.6% 80% 7 1 October 2017 PSU 3 1 July 2013 – 30 June 2020 – Seven year ROIC at 26.6% 93.33% 8 1 September 2018 PSU 2 1 July 2013 – 30 June 2020 – Seven year ROIC at 26.6% 93.33% 9 1 September 2019 PSU 1 1 July 2013 – 30 June 2020 – Seven year ROIC at 26.6% 100% CSL Limited Annual Report 2020/21 88 Directors’ Report