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2026 Third quarter trading statement October 2026
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2 Disclaimer This presentation contains certain statements that are, or may be deemed to be, “forward-looking statements” (including for purposes of the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934). Forward-looking statements give Haleon’s current expectations and projections about future events, including strategic initiatives and future financial condition and performance, and so Haleon’s actual results may differ materially from what is expressed or implied by such forward-looking statements. Forward-looking statements sometimes use words such as “expects”, “anticipates”, “believes”, “targets”, “plans”, “intends”, “aims”, “projects”, “indicates”, “may”, “might”, “will”, “should”, “potential”, “could” and words of similar meaning (or the negative thereof). All statements, other than statements of historical facts, included in this presentation are forward-looking statements. Such forward-looking statements include, but are not limited to, statements relating to future actions, prospective products or product approvals, delivery on strategic initiatives (including but not limited to acquisitions and disposals, realisations of efficiencies and responsible business goals), future performance or results of current and anticipated products, sales efforts, expenses, the outcome of contingencies such as legal proceedings, dividend payments and financial results. Any forward-looking statements made by or on behalf of Haleon speak only as of the date they are made and are based upon the knowledge and information available to Haleon on the date of this presentation. These forward-looking statements and views may be based on a number of assumptions and, by their nature, involve known and unknown risks, uncertainties and other factors because they relate to events and depend on circumstances that may or may not occur in the future and/or are beyond Haleon’s control or precise estimate. Such risks, uncertainties and other factors that could cause Haleon’s actual results, performance or achievements to differ materially from those in the forward-looking statements include, but are not limited to, those discussed under 'Principal risks' on pages 53 to 56 and “Risk Factors” on pages 181 to 189 of Haleon’s Annual Report and Form 20-F 2025. Forward-looking statements should, therefore, be construed in light of such risk factors and undue reliance should not be placed on forward-looking statements. Subject to our obligations under English and U.S. law in relation to disclosure and ongoing information (including under the Market Abuse Regulations, the UK Listing Rules and the Disclosure and Transparency Rules of the Financial Conduct Authority ), we undertake no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You should, however, consult any additional disclosures that Haleon may make in any documents which it publishes and/or files with the SEC and take note of these disclosures, wherever you are located. No statement in this presentation is or is intended to be a profit forecast or profit estimate.
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Brian McNamara CEO 2026 Third quarter results
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4 Weaker than expected Q3 performance: 2.6% organic revenue growth Performance impacted by: category softness including Respiratory Health and classification change on Centrum OTC registered products in China Emerging markets: High-teens growth in India, improving picture in Middle East & Africa and mid-single digit growth in China Productivity initiatives performing well driving strong gross margin improvement and providing flexibility to invest across the business Disciplined capital allocation: Strong cash generation supporting a further £500m2 allocation to share buybacks to be completed by FY results in February FY26 guidance: Now expect organic revenue growth of c. 2.5%3 High single digit adj. operating profit growth at constant currency expectation unchanged 1. Definition/reconciliation of IFRS to non-IFRS results can be found in the Appendix 2. Approximately 80% of the Shares purchased by the Company under the Buyback Programme will be cancelled. The remainder, will be h eld as treasury shares (with no voting or dividend rights) for the purposes of satisfying Haleon’s obligations under its existing employee share plans in 2027 and 2028 3. Guidance incorporates impact from the raw material classification change impacting Centrum’s OTC-registered products in China and an expected impact of the acceleration of our new go-to-market model in Brazil.
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5 Organic revenue growth1 2.6% Q3 revenue £2.9bn Price / Volume Mix 2.1% /0.5% Third quarter 2026 revenue FY 2026 guidance • c. 2.5% organic revenue growth2 • High-single digit adjusted operating profit growth at constant currency2 Delivering on capital allocation priorities • Announcing a further £500m share buyback to be completed by FY results in February 20271 1. Approximately 80% of the Shares purchased by the Company under the Buyback Programme will be cancelled. The remainder, will be held as treasury shares (with no voting or dividend rights) for the purposes of satisfying Haleon’s obligations under its existing employee share plans in 2027 and 2028 2. Definition/reconciliation of IFRS to non-IFRS results can be found in the Appendix Q3 organic revenue1: • Continued strong performance across Oral Health • Category softness including Respiratory Health • Classification change impacting Centrum’s OTC-registered products in China resulting in suspending importing a raw material North America1: • Strong performance in Oral Health, outperforming category • Double digit consumption in US Centrum • Weaker performance in Respiratory Europe: • Challenging macro-economic environment Emerging markets: • Strength in India particularly across Sensodyne and access offering • China grew mid-single digit with investment in e-comm driving double digit growth in channel
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6 Recent trends in cold and flu Source: Local week data, 11 markets (US, UK, IT, RU, PL, SK, CZ, HU, FR, GER, NTH) Weekly market cold and flu (million units) 10 15 20 25 30 35 40 45 50 Off seasonWinter season Sep Nov Dec Jan Feb MarOct Apr May JunAug Jul C&F season 2025-26 2026-27
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7 2026 guidance Organic revenue growth 1 of c. 2.5% High-single digit adjusted operating profit growth 2 1. Definition/reconciliation of IFRS to non-IFRS results can be found in the Appendix 2. Bloomberg consensus rates (taken as of 30 September 2026 averaged over 2026) Other modelling considerations Translational Foreign Exchange • Translational FX expected to be broadly neutral on both net revenue and adjusted operating profit 1 Net Interest, Tax, and non-controlling interest • Net interest cost expected to be c.£255m • Tax rate expected to be c.24.5%
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8 FROM Pockets of strong execution A more data-led, disciplined and scalable commercial model TO Stronger, more consistent growth Scale proven capabilities faster and apply them consistently across the business 01 Scale Innovation Revamped innovation pipeline. Unlocking claims through AI tools 14 clinical trials 04 Marketing effectiveness Investment in audiences, channels and creative delivering the strongest returns Sharper allocation with further expansion of e-comm 03 Revenue growth management Scale advanced pricing and promotional analytical tools to unlock incremental revenue Following success in North America, planned broader roll-out in 2027 02 Commercial execution Standardise and scale enhanced Perfect Store, using data and AI to guide sales teams 20 markets by Q1 2027
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Dawn Allen CFO 2026 Third quarter results
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10 £2,799m £2,868m Q3 2026 organic revenue growth 1 : Volume /Mix Price Translational foreign exchange 0.5% 2.1% ORG 1 +2.6% Organic revenue growth impacted by sequential slowdown in North America and Europe and impact of raw material classification change on Centrum OTC registered products in China International growth +6.9% reflecting a strong performance in India and sequential improvement in Middle East & Africa Q3 2025 sales Q3 2026 sales +2.5% Reported +2.6% Net M&A (0.1)% 1. Refers to Organic revenue growth. Definition/reconciliation of IFRS to non-IFRS results can be found in the Appendix 0.0%
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11 Global portfolio delivering growth Q3 2026 revenue Organic. Revenue. growth1 £m % Oral Health 930 8.8 VMS 423 (0.5) Pain Relief 657 0.5 Respiratory Health 499 (2.0) Digestive Health 245 2.5 Therapeutic Skin Health and Other 114 (0.7) TOTAL 2,868 2.6 1. Definition/reconciliation of IFRS to non-IFRS results can be found in the Appendix
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12 North America Q3 performance: • Good growth driven by new innovation launches, stronger retail execution and enhanced in-store activations • Double digit Oral Health growth, outpacing the market by c. 3x underpinned by innovations • VMS broadly flat, with mid-single Centrum growth supported by innovations including Centrum Age Defy offset by a decline in Emergen-C • Across OTC, performance was impacted soft consumption in cold and flu products 1. Definition/reconciliation of IFRS to non-IFRS results can be found in the Appendix Organic growth1 2.5% Q3 2026 Revenue £992m Price 1.8% Volume / mix 0.7% 34% of Q3 2026 Revenue
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13 Europe 1. Definition/reconciliation of IFRS to non-IFRS results can be found in the Appendix Q3 performance: • Consumer environment remains challenging across Europe, with subdued market volumes particularly in Germany and Central & Eastern Europe • Oral Health grew mid-single digit, supported by innovation and strong in-market execution • VMS reflected softer category trends impacting Centrum • Across OTC, performance was impacted by low seasonal demand patterns Organic growth1 (0.6)% Q3 2026 Revenue £798m Price 2.1% Volume / mix (2.7)% 28% of Q3 2026 Revenue
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14 APAC 1. Definition/reconciliation of IFRS to non-IFRS results can be found in the Appendix Q3 performance: • China grew mid-single digit; SEAT grew low single digit against a softer consumer backdrop related to Middle East conflict • Oral Health grew double digit, led by China • VMS declined slightly, with double-digit Caltrate growth offset by decline in Centrum in China • OTC delivered strong growth led by Pain Relief particularly Voltaren 2% in China Organic growth1 3.9% Q3 2026 Revenue £593m Price (0.3)% Volume / mix 4.2% 21% of Q3 2026 Revenue
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15 International 1. Definition/reconciliation of IFRS to non-IFRS results can be found in the Appendix Q3 performance: • High-teens growth in India, supported by increased Sensodyne penetration and strong execution, improving growth in MEA and a flat performance in LatAm • Oral Health up double digit with strength in India and MEA • Double digit growth in VMS with strong performance in Centrum across MEA • Pain Relief declined driven by Panadol in LatAm • Strength in Digestive Health from activation of ENO in Brazil Organic growth1 6.9% Q3 2026 Revenue £485m Price 5.6% Volume / mix 1.3% 17% of Q3 2026 Revenue
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Brian McNamara CEO 2026 Third quarter results
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17 Weaker than expected Q3 performance: 2.6% organic revenue growth Performance impacted by: category softness including Respiratory Health and classification change on Centrum OTC registered products in China Emerging markets: High-teens growth in India, improving picture in Middle East & Africa and mid-single digit growth in China Productivity initiatives performing well driving strong gross margin improvement and providing flexibility to invest across the business Disciplined capital allocation: Strong cash generation supporting a further £500m2 allocation to share buybacks to be completed by FY results in February FY26 guidance: Now expect organic revenue growth of c. 2.5%3 High single digit adj. operating profit growth at constant currency expectation unchanged 1. Definition/reconciliation of IFRS to non-IFRS results can be found in the Appendix 2. Approximately 80% of the Shares purchased by the Company under the Buyback Programme will be cancelled. The remainder, will be h eld as treasury shares (with no voting or dividend rights) for the purposes of satisfying Haleon’s obligations under its existing employee share plans in 2027 and 2028 3. Guidance incorporates impact from the raw material classification change impacting Centrum’s OTC-registered products in China and an expected impact of the acceleration of our new go-to-market model in Brazil.
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Appendix
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19 Glossary Organic revenue growth Organic revenue represents revenue, as determined under IFRS, but excluding the impact of divestments, acquisitions, manufacture and supply agreements (MSAs) relating to divestments and closure of production sites, the impact of foreign currency exchange movements and price growth in excess of 26% in hyperinflationary economies from one period to the next. Inflation of 26% per year compounded over three years is one of the key indicators within IAS 29 to assess whether an economy is deemed to be hyperinflationary. The Group believes discussing organic revenue growth contributes to the understanding of the Group’s performance and trends because it allows for a year-on-year comparison of revenue in a meaningful and consistent manner. Organic revenue growth is calculated period to period as follows, using prior year average exchange rates to restate current year comparatives except for the local currency of entities that operate in hyperinflationary economies. These currencies are translated into Pound Sterling using the prior year closing exchange rate. – Current year organic revenue growth excludes revenue from brands or businesses acquired in the current accounting period. _ Current year organic revenue growth excludes revenue attributable to brands or businesses acquired in the prior year from 1 January to the corresponding date of completion of the acquisition in current accounting period. – Prior year organic revenue growth excludes revenue in respect of brands or businesses divested or closed in the current accounting period from 12 months prior to the completion of the disposal or closure until the end of the prior accounting period. – Prior year organic revenue growth excludes revenue in respect of brands or businesses divested or closed in the previous accounting period in full. − Prior year and current year organic revenue growth exclude revenue attributable to MSAs relating to divestments and closure of production sites taking place in either the current or prior year, each an organic adjustment. These adjustments are made because these agreements are transitional in nature and, with respect to production site closures, include a ramp-down period in which revenue attributable to MSAs gradually reduces several months before the production site closes. To calculate organic revenue growth for the period, organic revenue for the prior year is subtracted from organic revenue in the current year and divided by organic revenue in the prior year. Organic revenue growth by individual geographical segment is further discussed by price and volume/mix changes, which are defined as follows: − Price: Defined as the variation in revenue attributable to changes in prices during the period. Price excludes the impact to organic revenue growth due to (i) the volume of products sold during the period and (ii) the composition of products sold during the period. Price is calculated as current year net price minus prior year net price multiplied by current year volume. Net price is the sales price, after deduction of any trade, cash or volume discounts that can be reliably estimated at point of sale. Value added tax and other sales taxes are excluded from the net price. In determining changes in price, we exclude the impact of price growth in excess of 26% per year in hyperinflationary economies as explained above. − Volume/Mix: Defined as the variation in revenue attributable to changes in volumes and composition of products sold in the period
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20 Organic revenue growth 1 2025 2026 Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Oral Health 6.6% 8.7% 6.9% 9.3% 7.9% 8.3% 6.2% 8.8% VMS 0.9% 0.9% 4.9% 1.2% 1.9% 1.7% 2.2% (0.5)% Pain Relief 2.6% 2.5% 3.7% 0.5% 2.3% (0.3)% 4.6% 0.5% Respiratory Health 0.7% (2.0)% (1.8)% (4.6)% (1.9)% (3.4)% (6.5)% (2.0)% Digestive Health 2.3% (2.8)% 2.1% 0.7% 0.5% (0.4)% 5.5% 2.5% Therapeutic Skin Health & Other 10.4% 2.5% (1.1)% (4.3)% 2.0% 3.0% 0.4% (0.7)% TOTAL 3.5% 3.0% 3.4% 2.1% 3.0% 2.2% 3.1% 2.6% Price 2.4% 2.5% 1.8% 2.4% 2.3% 2.4% 1.7% 2.1% Volume / mix 1.1% 0.5% 1.6% (0.3)% 0.7% (0.2)% 1.4% 0.5% Historic quarterly growth across the categories 1. Definition/reconciliation of IFRS to non-IFRS results can be found in the Appendix
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21 Reconciliation of Q3 organic growth Product Categories 2026 vs 2025 (%) Oral Health VMS Pain Relief Respiratory Health Digestive Health Therapeutic Skin Health & Other Total Revenue Growth 7.3 0.2 1.5 (2.2) 2.1 0.9 2.5 Organic Adjustments - - - - - 2.0 0.1 Effect of Exchange Rates 1.5 (0.7) (1.0) 0.2 0.4 (3.6) - Organic Revenue Growth 8.8 (0.5) 0.5 (2.0) 2.5 (0.7) 2.6 Geographical Segments 2026 vs 2025 (%) North America Europe APAC International Total Revenue Growth 1.5 (0.9) 5.3 6.8 2.5 Organic Adjustments - - - 0.5 0.1 Effect of Exchange Rates 1.0 0.3 (1.4) (0.4) - Organic Revenue Growth 2.5 (0.6) 3.9 6.9 2.6 Price 1.8 2.1 (0.3) 5.6 2.1 Volume / Mix 0.7 (2.7) 4.2 1.3 0.5
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Q3 2026 results Jo Russell Head of Investor Relations Joanne.c.Russell@Haleon.com +44 7787 392441 Rakesh Patel Director Investor Relations Rakesh.x.Patel@Haleon.com +44 7552 484646