6.2 Executive Remuneration Framework Changes for 2025 The Board continually reviews the executive remuneration framework, ensuring each component is fit for purpose and enables the delivery of CSL’s strategy and purpose. Over the year, NEDs and executives have held conversations with many of CSL’s shareholders and valued their feedback on the framework. In 2025, two changes will be made, taking effect from 1 July 2024. Expansion of Sustainability in STI Over the past 12 months, CSL has matured its sustainability program, specifically on the achievement of environmental (E) ambitions and targets, extended its strategy to ambitions and focus areas in Social (S) and Workforce (W), and listened to feedback from investors. Accordingly, the sustainability objective in CSL’s STI will be expanded to cover S and W measures in addition to E. We will also reduce the number of measures to incentivise executives to focus on a smaller number of outcomes that will have a meaningful impact on CSL’s 2030 sustainability strategy. The overall weighting remains at 5%. Introduction of a LTI Holding Lock In 2023, CSL moved from a seven year (four year look back / three year forward look) performance period to a single three year forward look for the ROIC LTI measure. While this was well received by investors, some did flag concern, wanting to see a longer period. To address this, for awards granted from 1 September 2024, a one year holding lock will be applied to PSU awards for all Global Leadership Group members. The holding lock will ensure Executive KMP reward will continue to be aligned to CSL’s share price and the shareholder experience. The diagram below depicts how the holding lock will work. For those executives located in jurisdictions where the vesting of PSUs and allocation of shares triggers a tax event, CSL will sell enough shares to cover the tax liability and the remaining shares will be subject to the holding lock. Shares held will be eligible for any dividends and, if an executive ceases employment for any reason during the holding lock, shares will be retained by the participant but will remain subject to the holding lock for the remainder of the holding lock period. 1 Jul 2024 1 Sep 2024 30 Jun 2027 1 Sep 2027 31 Aug 2028 Holding lock ends – participant has access to shares Award vesting and shares allocated Award testing LTI award granted Performance Period (3 years) Holding Period (1 year) X% shares retained and holding lock applied X% shares sold to cover tax laibility 91
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