Contents About this Report 94 Notes to the financial statements: 94 Our Current Performance 96 Note 1: Segment Information 96 Note 2: Business Disposals 99 Note 3: Revenue and Expenses 99 Note 4: Tax 101 Note 5: Inventories 103 Note 6: People Costs 104 Our Future 106 Note 7: Research and Development 106 Note 8: Intangible Assets 106 Note 9: Property, Plant and Equipment 108 Returns, Risk & Capital Management 109 Note 10: Shareholder Returns 109 Note 11: Financial Risk Management 110 Note 12: Equity and Reserves 116 Note 13: Commitments and Contingencies 117 Efficiency of Operation 118 Note 14: Receivables, Contract Assets and Payables 118 Note 15: Provisions 119 Other Notes 120 Note 16: Related Party Transactions 120 Note 17: Detailed Information - People Costs 121 Note 18: Detailed Information - Shareholder Returns 124 Note 19: Auditor Remuneration 125 Note 20: Deed of Cross Guarantee 126 Note 21: Parent Entity Information 128 Note 22: Non-Controlling Interests 128 Note 23: Subsequent Events 129 Note 24: Amendments to Accounting Standards and Interpretations 129 About this Report Notes to the financial statements: Corporate information CSL Limited (CSL) is a for-profit company incorporated and domiciled in Australia and limited by shares publicly traded on the Australian Securities Exchange. This financial report covers the financial statements for the consolidated entity consisting of CSL and its subsidiaries (together referred to as the Group). The financial report was authorised for issue in accordance with a resolution of directors on 18 August 2025. A description of the nature of the Group’s operations and its principal activities is included in the directors’ report. a. Basis of preparation This general purpose financial report has been prepared in accordance with Australian Accounting Standards, other authoritative pronouncements of the Australian Accounting Standards Board (AASB), International Financial Reporting Standards (IFRS) and the Corporations Act 2001. It presents information on a historical cost basis, except for certain financial instruments, which have been measured at fair value. Amounts have been rounded off to the nearest million dollars. The report is presented in US dollars, because this currency is the pharmaceutical industry standard currency for reporting purposes. It is also the predominant currency of the Group’s worldwide sales and operating expenses. b. Principles of consolidation The financial statements comprise the financial statements of CSL and its subsidiaries as at 30 June 2025. CSL has control of its subsidiaries when it is exposed to, and has the rights to, variable returns from its involvement with those entities and when it has the ability to affect those returns. A list of significant controlled entities (subsidiaries) at year end is contained in Note 16. Where the Group's interest in a subsidiary is less than 100%, the interest attributable to outside shareholders is reflected in non-controlling interest. Non-controlling interests in the financial results and equity of subsidiaries are shown separately in the consolidated statement of comprehensive income, statement of changes in equity and balance sheet respectively. Further details about the Group's non-controlling interest is contained in Note 22. The financial results of the subsidiaries are prepared using consistent accounting policies and for the same reporting period as the parent company. In preparing the financial statements, all intercompany balances and transactions have been eliminated in full. The Group has formed a trust to administer the Group’s employee share plan (GESP). This trust is consolidated as it is controlled by the Group. 94 Notes to the Financial Statements For the Year Ended 30 June 2025 For the Year Ended 30 June 2025 94 Financial Report
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