CSL Board The Board of Directors holds primary responsibility for defining climate-related strategic objectives and risk appetite, monitoring management’s execution, and evaluating the performance of Directors and the Board. In fulfilling these duties, the Board and its sub-committees integrate the assessment of climate-related risks and opportunities into their ongoing oversight and decision-making processes. Board sub-committees Audit and Risk Management (ARMC) Human Resources and Remuneration Committee (HRRC) Corporate Governance and Nomination Committee (CGNC) The ARMC oversees the Group’s efforts as they relate to material climate-related risks and opportunities*, climate-related target setting and progress towards targets. Any identified material climate-related risks and opportunities are communicated as part of the Committee’s wider oversight of material business risks and opportunities. Climate-related targets, including CSL’s science-based target (SBT), are reviewed and approved by the ARMC. CSL’s climate-related targets are part of CSL’s wider Healthier Environment focus area and corporate strategy, which is also overseen by the ARMC. The HRRC oversees the executive remuneration framework, which includes setting the climate-related considerations for short-term incentives (STIs) for the Global Leadership Team (GLT). Performance against climate-related key performance indicators (KPIs) is assessed once a year by the HRRC, informed by updates from the ARMC on performance against CSL’s SBT. Further detail on executive remuneration and how climate is integrated as part of wider executive remuneration, is provided under the climate-related Remuneration section of this report. The CGNC oversees maintaining an appropriate mix of skills and diversity in the Board’s membership, including skills and experience in developing strategies to respond to climate-related risks and opportunities. A Board skills matrix provides an assessment of the skills of Directors and includes one Director with climate-related risk and opportunity skills under the broader Sustainability and climate skill category. The Board skills matrix is reviewed annually by the CGNC and where relevant gaps are identified, action is taken. Further details are described on pages 8–9 of the Corporate Governance Statement. The Global Leadership Team (GLT) The Global Leadership Team (GLT), as CSL’s management representative, drives forward planning, day-to-day execution, controls and monitoring of CSL’s strategy, which includes climate within CSL’s broader sustainability strategy. Delivery of CSL’s sustainability strategy, including the management of climate-related risks and opportunities, is integrated across the business. Appropriate GLT members are accountable for the delivery of CSL’s transition plan, management of climate-related risks and opportunities, and reporting performance against climate-related targets to the ARMC. Chief Executive Officer (CEO) and Managing Director Chief Financial Officer (CFO) Chief Operating Officer (COO) Group General Counsel The CEO and Managing Director appoints GLT members who are appropriately skilled, trained and resourced to deliver on CSL’s strategic direction. This includes delivering on CSL’s sustainability strategy, which encompasses climate-related targets and management of identified climate-related risks and opportunities. The Chief Financial Officer (CFO) and their team oversee the assessment of the financial impacts of climate-related risks and opportunities. Material impairments and capital investment costs, as part of CSL’s transition plan and mitigation of climate-related risks and opportunities, form part of the CFO’s update to the ARMC. The Chief Operating Officer (COO) and their team oversee delivery of CSL’s transition plan. This includes delivery of key steps that CSL will take to meet its climate-related targets. Key deliverables as part of CSL’s transition plan are cascaded to members of the COO’s office and site teams. CSL’s Group General Counsel and their team oversee biannual reporting of material climate-related risks and opportunities to the ARMC as part of standard material risk escalation processes. Additionally, CSL’s Company Secretary, as part of CSL’s Group General Counsel’s team, reports progress against CSL’s climate-related targets, transition plan and mandatory climate-related disclosures to the relevant Board sub-committees. Sustainability Disclosure Steering Committee A Sustainability Disclosure Steering Committee (SDSC), which comprises cross-functional GLT delegates, provides day-to-day oversight of the preparation of this report, including scenario analysis, assessment and prioritisation of climate-related risks and opportunities, and their communication up to the GLT and ARMC. Governance CSL’s Board of Directors has responsibility for overseeing and delivering the Group’s strategic direction. The Board’s oversight in relation to climate-related risks, opportunities and climate strategy is described in this sustainability report. * The ARMC charter was updated this year to reflect the Committee’s expanded oversight of climate-related risks and opportunities. 143 CSL Limited Annual Report 2025/26
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