CSL : AGM 2019 Speeches

For immediate release

16 October 2019

CSL LIMITED 2019 ANNUAL GENERAL MEETING SPEECHES

CSL Limited (ASX:CSL; USOTC:CSLLY)

Please find attached the Chairman and Chief Executive Officer addresses, and the accompanying slides, to be presented at CSL Limited's Annual General Meeting today in Sydney.

The meeting will be webcast at https://register.webcastcloud.com.au/csl/agm2019.

Fiona Mead

Company Secretary

About CSL

CSL (ASX:CSL) is a leading global biotechnology company with a dynamic portfolio of life-saving medicines, including those that treat haemophilia and immune deficiencies, as well as vaccines to prevent influenza. Since our start in 1916, we have been driven by our promise to save lives using the latest technologies. Today, CSL - including our two businesses, CSL Behring and Seqirus - provides life-saving products to more than 70 countries and employs 25,000 people. Our unique combination of commercial strength, R&D focus and operational excellence enables us to identify, develop and deliver innovations so our patients can live life to the fullest.

For more information about CSL Limited, visit www.csl.com

For further information, please contact:

Investors:	Media:
Mark Dehring	Jemimah Brennan
Head of Investor Relations	Head of Asia Pacific Corporate Affairs
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Chairman Address at the 2019 CSL Annual General Meeting

Good afternoon Ladies and Gentlemen,

My name is Brian McNamee and as Chairman of CSL Limited it is a pleasure to welcome you to CSL Limited's 2019 Annual General Meeting. I also acknowledge all of our shareholders who are accessing the meeting via webcast today. There is a quorum present and I am delighted to officially open the meeting.

For those in the room here, I want to take a moment to ensure that you are familiar with the evacuation procedures to be followed in the unlikely event of an emergency. If an evacuation alarm sounds, the venue's fire wardens will enter the room and direct us to the emergency evacuation points. Please follow their instructions.

This is the first time that we have held our Annual General Meeting in Sydney and we are pleased to gather with a good number of over 48,000 of our shareholders who live in New South Wales. They represent around 30% of all CSL's shareholders and for this reason we felt it was a good thing to bring the AGM to Sydney in our 25th year as a listed company.

To begin formalities today, the Notice convening the Meeting has been circulated to every shareholder and I now take that Notice as read.

I would now like to introduce your Board of Directors and our Company Secretary:

To my left (your right);

• Ms Fiona Mead, Company Secretary
• Ms Marie McDonald;
• Mr Bruce Brook;
• Professor Andrew Cuthbertson.

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And to my right (your left):

• Mr Paul Perreault, Managing Director
• Dr Megan Clark
• Mr Abbas Hussein
• Ms Christine O'Reilly
• Mr Tachi Yamada

You will have an opportunity to hear from the two Directors who are standing for election later in the meeting.

Having been in the Chair since the conclusion of last year's AGM, I am delighted to address this meeting today - especially gratifying as this week we marked the occasion of the 25th anniversary since CSL listed on the Australian Securities Exchange.

Back in 1994, the company included a small group of very talented people and a very modest set of assets, and it was firmly underpinned by big hopes and dreams. We could never have envisaged then the company as it is today; the value it has delivered to people with rare and serious diseases, the contribution it has made to public health to many communities' right around the world and to you, our shareholders. So I stand before you with pride, but also quite humbled. In that time, the world has changed dramatically and CSL has changed with it. Importantly there is much ahead of us and while it's nice to reflect for a moment with nostalgia, it is vastly more interesting to have our eyes focused forward - on what is next for our Company.

Paul Perreault, our CEO and Managing Director, will shortly be sharing with you some detail on the performance of our individual business units for FY19 - and we are delighted to deliver to our shareholders another great year, including a Financial Year 19 dividend that was up 18% in $A terms. For this, I'd like to recognize and thank Paul and his Management team for their strong leadership.

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They continue to effectively cultivate our strategy and drive a culture of innovation, not only across our R&D organization, but enterprise-wide.

I'd also like to thank our Board for their guidance and commitment to excellence. At the conclusion of the meeting we will say farewell to Mr. Tachi Yamada, who has been a Director since 2016. I'll say a few more words to acknowledge Tachi's contribution a little later.

What I have seen in my first year as Chair is a strong company with continued potential. I have enjoyed visiting some of our sites this year, including Kankakee, Liverpool, Bern and Marburg, and I have been impressed by the scale, discipline, innovation and culture flowing through the veins of the company. CSL has a presence in almost 70 countries globally and employs more than 25,000 people. We have in our stable some of the brightest and most educated minds within the scientific and business communities alike.

This year we had a 13 percent growth in our employee base - a testament to the Promising Futures we offer our employees and jobseekers alike.

'Company culture' has been given much airtime in the Australian corporate governance environment in recent times, and it something that my fellow Directors and I care about deeply.

We believe that the Board has a role in building and fostering a values-based culture, and that this must flow through the organisation. We know that the bedrock of our success lies in living our five Values:

• Patient focus.
• Innovation.
• Integrity.
• Collaboration.
• Superior Performance.

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For CSL to continue to grow, to make a difference in people's lives through our science and be a highly desirable workplace, we ensure that Our Values remain the foundation of our culture and act as the guide for how we work.

That is one of the reasons why our Board spends two weeks of their year visiting CSL sites, talking to our people and seeking to understand the challenges, looking and listening for how well our values are translating into day to day behaviours. We know that long term sustainability cannot be founded on financial success alone. For us, patients must be kept at the forefront of decision-making - and then success in other areas will follow.

In fact, everything we do is driven by our promise to patients and protecting public health. Our strong performance last year is undoubtedly a key indicator of the shared purpose of our people and whether they are based in Parkville, Dubai, Tokyo, Bern, or King of Prussia - the needs of patients and demands of public health remain our compass.

We are also proud of the external recognition we have received in relation to our employee engagement. In the last financial year, the company received a few recognitions of note such as CSL's inclusion on Thomson Reuters' Top 100 Most Diverse & Inclusive Organizations Globally, Universum's Most Attractive Employers in Switzerland, and Forbes America's Best Large Employers.

I'd now like to turn our attention to our engagement with our broader stakeholder community, a subject of significant focus for the Board and an area in which CSL and its people remain deeply committed.

We conduct our business based on CSL's Values and know that being a mindful contributor to the economic, social and environmental well-being of our communities is critical to the sustainability of our company.

For us, corporate responsibility is aligned with business goals and complements our unique capabilities for the benefit of a diverse set of stakeholders.

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