With respect to continued growth and innovation in the competitive global influenza vaccine market, CSL remains focused on maintaining its leadership through ongoing innovation in vaccine development and manufacturing. This includes advancing cell‑based vaccine production and exploring the use of sa‑mRNA technology for developing both influenza and COVID‑19 vaccines. Embracing cutting-edge technologies is essential to securing long-term competitive advantages and delivering on CSL’s promise to protect public health. Supply, capacity and operations Having a resilient and reliable supply chain is critical to CSL achieving its strategic goals, particularly to achieving consistent, economical and efficient supply. Any disruption to supply has the potential to impact operations. CSL constantly monitors the demand for its products over a 10‑year horizon as well as its capacity to acquire raw materials essential to the manufacture of CSL products. Delivering a positive donor experience is important to maintaining CSL’s collection of plasma. CSL uses modern techniques and technologies in its plasma collection centres to facilitate a safe and efficient donation process. It updates its plasma collection centres to provide a comfortable and safe donor experience. External sources of plasma may be used as needed to supplement inventory at times of demand. CSL endeavours to invest in manufacturing capacity ahead of projected demand so that it can supply the needs of patients. Its operations also accommodate investments in technology and process improvements to enhance efficiency and reduce costs. Such improvements encompass strategies to increase the yield of both immunoglobulin and cell‑based influenza vaccines, along with boosting the throughput of its existing facilities. CSL’s global network strategy continually evaluates short‑, mid‑, and long‑term needs to inform decisions on capital and operational expenditures, including the use of expert third party providers to enable a resilient, reliable and sustainable supply chain. CSL examines and prioritises its operational effectiveness efforts, capital plans, inventory targets, supply chain visibility, distribution and regulatory strategies to enhance the positions of its products from a business continuity and supply chain resilience standpoint. Market access In most countries, pricing and access of pharmaceutical products are determined by the country’s P&R (pricing & reimbursement) authorities, using strict appraisal processes based on clinical and economic evidence as well as patient outcomes. Policy making may involve multiple stakeholder engagement, across governments, payers/insurers, patient advocacy groups, medical societies and non‑governmental organisations. CSL recognises that if it is not successful in maintaining sustainable and reliable supply of its therapies for its stakeholders, or does not adopt responsible pricing, it may adversely affect its ability to execute its strategy, deliver sustainable growth and uphold CSL’s corporate reputation. CSL further recognises that as a result of macroeconomic pressures and other factors, governments and payers/insurers around the world are putting more emphasis on affordable pricing and equitable patient access, particularly in the United States where tariffs on pharmaceutical imports and most-favoured-nation policies are being considered. The Company works closely with stakeholders in all countries where it markets its products so that CSL therapies are accessible, and that its pricing remains competitive, responsible and reflects the value its therapies bring to patients and health systems. People and culture CSL is committed to supporting its people and strengthening its inclusive, purpose‑driven culture. It has a variety of programs and policies in place, including the Speak Up Policy and the Code of Responsible Business Practice (CRBP) to guide how the Company’s people interact with each other that meets the CSL Values and how CSL operates around the world. Acting with integrity, CSL builds trust, which protects and promotes CSL’s reputation. CSL also recognises the need to have the right people with the right skills in the right roles. An inability to attract and hire the right talent may slow progress towards the Strategy. As it focuses on attracting, developing and retaining top talent, CSL regularly reviews best practices, and benchmarks itself within the markets where it operates with the goal of offering total rewards and an employee experience that are both compelling and competitive with industry peers. In addition, CSL understands that the workplace and its employees’ needs are constantly evolving, and the Company offers flexible work options and opportunities for them to stay connected. CSL constantly challenges itself to create an engaging and collaborative environment in which its people can continuously learn and grow professionally, deliver meaningful work and drive innovation. Privacy and cybersecurity The privacy and security of CSL’s data, including that of CSL’s patients, donors and employees, remains a top priority. The Company recognises the increasing risk of cyber threats and data privacy breaches targeting individuals and organisations. These threats continue to evolve, ranging from sophisticated phishing campaigns to attacks on critical infrastructure. Breaches of CSL’s information technology (IT) systems – whether caused by human error, malware, or espionage – could result in the unauthorised or inadvertent compromise of sensitive information. To address these risks, CSL maintains a proactive approach to cybersecurity, continuously monitoring the threat landscape and aligning CSL’s controls to industry practices. Security safeguards are embedded across CSL’s infrastructure, IT systems, and data environments, based on threat intelligence and risk-based prioritisation. CSL also invests in employee awareness and preparedness, performing ongoing training, crisis response simulations, and business continuity exercises to reduce cyber and privacy risks across the organisation. Further details about CSL’s enterprise risk management framework and how it manages CSL’s business risks is available on CSL.com. + READ MORE AT CSL.COM/WE-ARE-CSL/ CORPORATE-GOVERNANCE 25 CSL Limited Annual Report 2024/25
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