GlaxoSmithKline : JP Morgan Conference presentation

JP Morgan Healthcare Conference

Hal Barron, M.D., Chief Scientific Officer & President R&D

January 2021

Cautionary statement regarding forward-looking statements

This presentation may contain forward-looking statements. Forward-looking statements give the Group's current expectations or forecasts of future events. An investor can identify these statements by the fact that they do not relate strictly to historical or current facts. They use words such as 'anticipate', 'estimate', 'expect', 'intend', 'will', 'project', 'plan', 'believe', 'target' and other words and terms of similar meaning in connection with any discussion of future operating or financial performance. In particular, these include statements relating to future actions, prospective products or product approvals, 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.

Other than in accordance with its legal or regulatory obligations (including under the Market Abuse Regulations, UK Listing Rules and the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority), the Group undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Investors should, however, consult any additional disclosures that the Group may make in any documents which it publishes and/or files with the US Securities and Exchange Commission (SEC). All investors, wherever located, should take note of these disclosures. Accordingly, no assurance can be given that any particular expectation will be met and investors are cautioned not to place undue reliance on the forward-looking statements.

Forward-looking statements are subject to assumptions, inherent risks and uncertainties, many of which relate to factors that are beyond the Group's control or precise estimate. The Group cautions investors that a number of important factors, including those in this presentation, could cause actual results to differ materially from those expressed or implied in any forward-looking statement. Such factors include, but are not limited to, those discussed under Item 3.D 'Risk factors' in the Group's Annual Report on Form 20-F for FY 2019 and any impacts of the COVID-19 pandemic. Any forward-looking statements made by or on behalf of the Group speak only as of the date they are made and are based upon the knowledge and information available to the Directors on the date of this presentation.

A number of adjusted measures are used to report the performance of our business, which are non-IFRS measures. These measures are defined and reconciliations to the nearest IFRS measure are available in our third quarter 2020 earnings release and Annual Report on Form 20-F for FY 2019.

All expectations and targets regarding future performance and the dividend should be read together with "Assumptions related to 2020 guidance and 2016-2020 outlook" on page 63 of our third quarter 2020 earnings release.

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Building 2 world leading companies

Innovation

	- Strengthening
	pipeline
	- Drive operating
	performance
Performance	- Successful
	integration

- Prepare for 2 new companies

Trust

New GSK: a leading

biopharma company with

R&D focused on science of the immune system, genetics and advanced technologies

New leading Consumer Healthcare company with

category leading power brands

and science and consumer

insights

3

Significant progress on our priorities in 2020

Strengthened and advanced the pipeline

Competitive in-market execution

Disciplined cost control

Good progress on integration & separation

Progressed pandemic solutions

Performance Innovation

Trust

✔

✔

✔

✔

✔

✔

✔

✔

✔

9 major approvals: BLENREP; Zejula 1LM OC; Trelegy asthma; Rukobia; Nucala HES; Benlysta LN; Tivicay (paediatric); Vocabria/Cabenuva (EU and Canada); Duvroq (Jp)

Positive data presented: RSV vaccines, Benlysta LN, GSK'836 in HBV, BLENREP 2L MM, linerixibat cholestatic pruritis in PBC

9 pivotal study starts: including Zejula 1L NSCLC, MenABCWY, BLENREP 3L & 2L MM, RSV maternal, Vir-7831COVID-19, NYESO SS

Strong commercial execution driving new product growth

Consumer Healthcare JV integration

Good progress on separation and transformation activities, and cost base optimisation

Advanced pandemic solutions; industry pledge on COVID vaccine access and safety

Launched the AMR action fund together with 20+ partners to address rise of antibiotic resistant infections

New environmental targets: net zero impact on climate and net positive impact on nature by 2030

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HES, Hypereosinophilic syndrome; MM: multiple myeloma; PBC: primary biliary cholangitis; NSCLC: non-small cell lung cancer; LN, lupus nephritis; SS: synovial sarcoma; AMR: anti-microbial resistance; Jp, Japan; OC: ovarian cancer; HBV: hepatitis B

Building a sustainable pipeline of transformational vaccines and medicines

60 vaccines and medicines in our pipeline with >20 late-stage assets and

>10 with blockbuster potential

Significant progress in rebuilding Oncology, with a focus on immunology -

both IO and cell therapy

Highlighting today: BLENREP, feladilimab, GSK'608 CD96

Best in class Infectious Disease portfolio in Vaccines and Pharma

Highlighting today: RSV OA vaccine, Cabenuva,

cabotegravir LA PrEP, VIR-7831

Clear focus on life cycle innovation and building blockbusters

to maximise value

Highlighting today: Nucala/GSK'294 IL-5 LA

Multiple important catalysts in 2021

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Strong R&D pipeline

18 vaccines and 42 medicines

First time in human/POM (Phase 1)

3858279* (CCL17 inhibitor) OA pain

3511294* (LA anti-IL5 antagonist) asthma

3745417 (STING agonist) cancer

3439171* (hPGD2 synthase inhibitor) DMD

3186899* (CRK-12 inhibitor) visceral leishmaniasis

3810109* (broadly neutralizing antibody) HIV

3537142* (NYESO1 ImmTAC) cancer

3368715* (Type 1 PRMT inhibitor) cancer

2798745* (TRPV4 blocker) DME

6097608* (CD96) cancer

2982772 (RIP1-k)psoriasis

3882347* (FimH antagonist) uUTI

3739937 (maturation inhibitor) HIV

3923868 (PI4kβ inhibitor) viral COPD exacerbations

3901961* (CD8 TCR) cancer

3845097* (TGFbR2 TCR) cancer

3494245* (proteasome inh) visceral leishmaniasis

3915393 * (TG2 inhibitor) celiac disease

2556286* (Mtb inhibitor) TB

3729098* (ethionamide repressor inhibitor) TB

C. difficile*

SAM (rabies model)

Proof of concept (Phase 1b/2)

3640254 (maturation inhibitor) HIV

3228836* (HBV ASO) HBV

linerixibat (IBATi) cholestatic pruritus in PBC

3326595* (PRMT5 inhibitor) cancer

cobolimab* (TSR-022,TIM-3 antagonist) cancer

3036656* (leucyl t-RNA inhibitor) TB

2831781* (aLAG3 depleting) ulcerative colitis

4074386* (TSR-033, LAG3 antagonist) cancer

Menveo liquid

RSV paediatric

RSV older adults*2

Therapeutic HBV*2

Malaria* (fractional dose)

Shigella*

Pivotal (Phase 2/3 / Registration)

Benlysta3 + Rituxan SLE**

cabotegravir LA + rilpivirine* LA HIV

cabotegravir LA HIV PrEP daprodustat (HIF-PHI) anemia

Nucala COPD / nasal polyps

BLENREP* (BCMA ADC) multiple myeloma

Zejula* (PARP inhibitor) ovarian cancer**

dostarlimab* (PD-1 antagonist) dMMR/MSI-HEC

bintrafusp alfa* (TGFβ trap/anti-PDL1)BTC**

otilimab* (3196165, aGM-CSF inhibitor) RA**4

gepotidacin* (2140944) uUTI and GC

3359609* (ICOS receptor agonist) HNSCC**1

letetresgene-autoleucel*(3377794, NY-ESO-1TCR) SS**

4182136* (VIR-7831)COVID-19

Shingrix immuno-compromised*

Bexsero infants (US)

MMR (US)

Rotarix liquid (US)

MenABCWY

RSV maternal*

COVID-19 (Medicago)*Ɨ

Key:

Oncology

Immune/Other

Infectious Diseases (Rx)

Infectious Diseases (Vx)

Note: only the most advanced indications are shown for each asset

S. aureus*

COVID-19 (Sanofi)*Ɨ2

COVID-19 (Clover Biopharmaceuticals)*Ɨ

*In-license or other alliance relationship with third party **Additional indications also under investigation Ɨ GSK is contributing pandemic adjuvant to COVID-19 vaccines collaborations
1. ICOS HNSCC is a Phase 2/3 study with registrational potential 2. In Phase 1/2 study 3. Benlysta for lupus nephritis in registration 4. Otilimab for COVID-19 therapy in Ph2. POM: proof of	6
mechanism, RA: rheumatoid arthritis; OA: osteoarthritis; DMD: duchenne muscular dystrophy; PBC: primary biliary cholangitis; TB: tuberculosis; SLE: systemic lupus erythematosus; BTC:
biliary tract cancer; EC: endometrial cancer; uUTI: uncomplicated urinary tract infection; GC: gonorrhoea; HNSCC: head and neck squamous cell carcinoma; dMMR: deficient mismatch

repair; DME: diabetic macular edema, SS, synovial sarcoma; HBV, hepatitis B; COPD, chronic obstructive pulmonary disease; PrEP, pre-exposure prophylaxis

High value late-stage pipeline;

>10 potential blockbuster launches by 2026

2021 - 2022

Cabenuva		Cabotegravir
HIV		LA PrEP HIV
VIR-7831		otilimab
COVID		COVID*
bintrafusp		dostarlimab
solid tumours		MSI-H 2L EC+pan tumour

vaccine adjuvant

COVID

*Otilimab COVID currently in Ph2

2023 - 2026

RSV

gepotidacin

HBV ASO

IL-5 LA

older adults

uUTI

hepatitis B

asthma

feladilimab

bintrafusp

daprodustat

dostarlimab

HNSCC/NSCLC

NSCLC/solid tumours

CKD anaemia

combos/solid tumours

otilimab

RSV

LAG-3

linerixibat

RA

maternal

cancer

PBS

TIM-3

MenABCWY

NYESO TCR-T

CD96

NSCLC

meningitis

SS/NSCLC

cancer

GSK'254

BLENREP

Zejula

Nucala

HIV

earlier line MM

NSCLC

COPD

New product

Lifecycle innovation

Sales potential

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>US$1BN

Innovative oncology portfolio

15 oncology assets in development (12 in I-O & cell therapy)

Molecule

Zejula (niraparib)

BLENREP (belantamab mafodotin)†

TGF-betatrap/PD-L1 antagonist (bintrafusp alfa)Ұ PD-1 antagonist (dostarlimab)

ICOS receptor agonist (feladilimab, GSK3359609)† + NY-ESO-1 TCR T cells (GSK3377794) †

TIM-3 antagonist (cobolimab, TSR-022) PRMT5 inhibitor (GSK3326595)† NY-ESO-1 ImmTAC® (GSK3537142) ‡ CD96 (GSK6097608)

LAG-3 antagonist (TSR-033) STING agonist (GSK3745417) CD8 TCR T cells (GSK3901961) † TGFbR2 TCR T cells (GSK3845097) † Type 1 PRMT inhibitor (GSK3368715)†

Phase 1	Phase 2
(dose
(FTIH)
expansion)

First line maintenance ovarian, other solid tumours under investigation Multiple myeloma

NSCLC, BTC, cervical, other solid tumours

Solid tumours (including endometrial, ovarian, NSCLC, Cervical, other MSI-H tumours) NSCLC, HNSCC, other solid tumours

Sarcoma, NSCLC, multiple myeloma

Solid tumours

Solid tumours, heme malignancies

Solid tumours

Solid tumours

Solid tumours

Solid tumours

Solid tumours

Solid tumours

Solid tumours, DLBCL

Phase 2/3

(pivotal)

Synthetic lethality Immuno-oncology

Oncology cell therapy Cancer epigenetics

• In-licenseor other partnership with third party; + ICOS HNSCC Phase 2/3 study with registrational potential
  ‡ Option based alliance with Immunocore Ltd. ImmTAC is a registered trademark of Immunocore Ltd. Ұ Being developed in a strategic global alliance between GSK and Merck KGaA, Darmstadt, Germany ^ Re-categorised from phase II to I following refinement of phase definitions
  FTIH, first time in human; NSCLC, non small cell lung cancer; HNSCC, Head and neck squamous cell carcinoma; BTC, biliary tract cancer

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>US$1BN

potential

BLENREP: first-in-class BCMA targeted therapeutic for multiple myeloma

First BCMA targeted agent approved

• DREAMM-2demonstrated clinically meaningful benefit in heavily pre-treated relapsed/refractory multiple myeloma
• Commercial launch underway in US and Germany; strong initial demand

Investigating synergistic novel combinations

• DREAMM-5platform study with ≥3 novel combinations; preliminary GSI combination data expected 2021
• DREAMM-4combination with pembrolizumab; data in-house, presentation expected 1H21

GSI, gamma secretase inhibitor; SoC, standard of care

Development in earlier lines

Studies ongoing to optimize dose for combinations with SoC and novel agents in earlier lines

Phase 1/2 ALGONQUIN study (Blenrep plus PomDex; ≥1 prior therapy RRMM) presented at ASH 2020:

Pivotal 2L+ DREAMM 7 & 8 combination studies initiated 2020; results anticipated 2022-2023

By IMWG uniform response criteria 2016; ORR, overall response rate; PR, partial response, VGPR, very good partial	9
response, CR, complete response. Combined-2.5mg/kg include single, loading and split doses; Keratopathy by exam

finding, ^visual acuity change 20/50 or worse in better seeing eye. Trudel, et al ASH 2020

>US$1BN

potential

Feladilimab, ICOS receptor agonist: several near-term catalysts anticipated

Novel I-O target, expected to modulate T-cell dynamics

• Activity observed in monotherapy and PD-1 combo
• Durable responses seen with pembro combo; median PFS of 4.2 months, median OS of 13.1 months³
• ORR of 24% (12% CR, 12% PR lasting ≥6 months)³

Clinical development approach for feladilimab (GSK'609)

Initial development in 1L relapsed/metastatic HNSCC1

• >500k people diagnosed globally/year
• INDUCE-3: ongoing Ph2/3 (combo with pembrolizumab); interim analysis 1H 2021 to ungate Phase 3
• INDUCE-4: ongoing Phase 2/3 (combo with pembrolizumab and chemo); data readout 2024

Data in other solid tumors expected in 2021

• INDUCE-1: FTIH open label study; data in other solid tumors expected in 1H 2021
• ENTRÉE lung: in NSCLC² (combo with docetaxel) expected 1H 2021

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1. Head and neck squamous cell carcinoma; 2. Non-small cell lung cancer; 3. ASCO 2020 Updated Analysis of the Inducible T-CellCo-Stimulatory Receptor (ICOS) Agonist, GSK3359609,in Combination With Pembrolizumab in Patients With Anti-PD-1/L1Treatment-Naïve HNSCC

Innovative approach to the CD226 axis (anti-CD96,anti-PVRIG)

CD226 axis plays an important role in cancer immune surveillance

 CD226 is a costimulatory receptor on T and NK cells that interacts with CD155 and CD112 on tumor cells

 TIGIT, CD96 and PVRIG are immune checkpoints expressed on various T and NK cell subsets

 TIGIT and CD96 bind to CD155, and PVRIG binds to CD112, to sequester them and prevent their activation of CD226

 mAbs to TIGIT, CD96 and PVRIG permit CD226 interactions with CD155 and CD112, and result in antitumor activity

• GSK'608 (anti-CD96): potential first-in-class mAb, Ph1 underway

• SRF813 (anti-PVRIG): potential best-in-class mAb, Ph1 start 2022

• Dostarlimab (anti-PD-1): potential for combinations Potential partner of choice for TIGIT combinations

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World leader in Infectious Diseases

32 vaccines and medicines in development

First time in human/POM (Phase 1)

3186899* (CRK-12 inhibitor) visceral leishmaniasis

3810109* (broadly neutralizing antibody) HIV

3882347* (FimH antagonist) uUTI

3739937 (maturation inhibitor) HIV

3494245* (proteasome inh) visceral leishmaniasis

2556286* (Mtb inhibitor) TB

3729098* (ethionamide repressor inhibitor) TB

C. difficile*

SAM (rabies model)

S. aureus*

COVID-19 (Sanofi)*Ɨ2

COVID-19 (Clover Biopharmaceuticals)*Ɨ

Vaccine

Medicine

Proof of concept (Phase 1b/2)

3640254 (maturation inhibitor) HIV

3228836* (HBV ASO) HBV

3036656* (leucyl t-RNA inhibitor) TB

Menveo liquid

RSV paediatric

RSV older adults*2

Therapeutic HBV*2

Malaria* (fractional dose)

Shigella*

Pivotal (Phase 2/3 /Registration)

cabotegravir LA + rilpivirine* LA HIV cabotegravir LA HIV PrEP

gepotidacin* (2140944) uUTI and GC

4182136* (VIR-7831)COVID-19

Shingrix immuno-compromised*

Bexsero infants (US)

MMR (US)

Rotarix liquid (US)

MenABCWY

RSV maternal*

COVID-19 (Medicago)*Ɨ

Marketed

Rukobia

Dovato
Juluca
Tivicay
Triumeq
Epzicom / Kivexa
Selzentry
Zinnat
Zeffix
Viread
Augmentin
Shingrix
Bexsero
Menveo
Fluarix
Priorix / Priorix Tetra / Varilix
Infanrix / Pediarix / Boostrix
Synflorix
Hepatitis vaccines
Rotarix
Cervarix	12

*In-license or other alliance relationship with third party Ɨ GSK is contributing pandemic adjuvant to COVID-19 vaccines collaborations POM: proof of mechanism, TB: tuberculosis; uUTI: uncomplicated urinary tract infection; GC: gonorrhoea

>US$1BN

potential

RSV older adults: major opportunity with high unmet need

Significant opportunity; first-in-class potential

• Features pre-fusion antigen combined with AS01 adjuvant

 Proven adjuvant to stimulate

AS01

+

greater immune response in older adult population

• Substantial US disease burden1 with 177k hospitalisations and 14k deaths per year in 65+ age group
• 70m adults age 60+ in US2; >300m developed regions3
• ~2/3 of older US adults receive flu or pneumococcal vaccines4

Ph3 to start Q1 2021; initial data expected H2 2022*

*Timing dependent on RSV infection circulation during pandemic lockdowns

Phase 2: compelling antibody response and T cell restoration

		Antibody Response			T-Cell Response
			Young adults	Older adults	Young adults Older adults
	95%andGMTsCIs for NAbARSV										for cells**
										andGMFs95%CIs RSVPreF
											T CD4+
										3
			RSVPreF3		Adjuvanted		RSVPreF3		Adjuvanted
					RSVPreF3				RSVPreF3

Well tolerated

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1. CDC -https://www.cdc.gov/rsv/high-risk/older-adults.html2. US Census:https://www.census.gov/data/tables/2018/demo/age-and-sex/2018-older-population.html3. United Nations World Population Prospects 2019 4. CDC:https://www.cdc.gov/nchs/products/databriefs/db281.htm

>US$1BN

potential

Cabenuva and CAB PrEP: meeting important patient needs in HIV treatment and prevention

Cabenuva*: unique long-acting regimen

• Differentiated approach: first and only once-monthly* complete LA HIV regimen; non inferior efficacy and comparable safety to daily oral regimens
• Critical Need: More than half of all PLHIV state that oral daily pills are a reminder of their HIV status and have hidden or disguised their medicine due to stigma
• Strong patient preference: >97% of patients in pivotal ATLAS and FLAIR studies preferred LA regimen vs daily oral therapy
• Commercially ready: sales force ready to launch and support HCPs in successful Cabebuva adoption

US approval expected 1Q 2021

Cabotegravir long-acting: superior to oral daily PrEP

• Superior efficacy: Cabotegravir LA IM every 2 months:
• • 66% more effective than oral daily FTC/TDF in MSM* and transgender women
  • 89% more effective than oral daily FTC/TDF in in women
• Patient preference: Reduces stigma and adherence issues of daily dosing
• $2bn market:
  >200k US PrEP patients today, but up to
  1.2m could benefit

Hazard Ratio (95% CI)

0.34 (0.18-0.62)

US submission expected mid 2021

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*Approved as Vocabria + Rekambys in EU; approved every two-monthly dosing in EU	PrEP source: Landovitz RJ et al. AIDS 2020, #OAXLB01
LA, long-acting; PLHIV, people living with HIV;CI, confidence interval; MSM, men who have sex with men

potential	VIR-7831: potential best-in-classCOVID-19 antibody
>US$1BN

Improved lung bioavailability3

Extended half-life1,2

Low dose allows for IM formulations

Blocks viral entry into healthy cells (neutralization)1,2

Clears infected cells by recruiting the immune system1,2

High barrier to resistance; potential to address future pandemics2

Dual action

Broad clinical development programme:

COMET-ICE Ph3 study ongoing in patients at high risk of hospitalisation; data expected 1Q21 ACTIV-3 Ph3 study initiated December 2020 in hospitalised patients with COVID-19 Further studies planned to explore full potential

*SARS-CoV-2, severe acute respiratory syndrome coronavirus and other CoVs	15
1. Pinto D, et al. Nature. 2020;583:290-5, 2. Vir Biotechnology Press Release 18 May 2020, 3. GSK data on file (GSK Study 214367 protocol)

Extending IL-5 leadership through Nucala LCI and next generation long-acting antibody

Leadership in IL-5

• Category-leadingmonthly IL5: sales annualising at >£1bn*
• Significant opportunity: only 27% of US patients with SEA1 receive a biologic
• Maintaining leadership through LCI:
• • Paediatric patients
  • Auto-injectorfor at home use
  • 1st biologic approved for EGPA2 and HES3
  • Positive Phase 3 data in NP4
  • Phase 3 study in COPD ongoing

Leveraging IL-5 target expertise

GSK3511294: next generation

IL-5 biologic

• Extending leadership: potential to be first extended-release biologic for SEA
• Attractive clinical profile: engineered for high affinity and long-lasting suppression of IL-5, underscored by positive Phase 1 data
• Patient convenience: single sc injection once every 6 months
• High probability of success: based on validated MoA and data in-hand

Pivotal Phase 3 to start 1Q 2021;

results expected 2024

* Based on 3Q 2020 sales of £251m, 1. Severe Eosinophilic Asthma 2. Eosinophilic granulomatosis with polyangiitis	16
3. Hypereosinophilic syndrome 4. Nasal Polyps; LCI, life cycle innovation; MoA, mechanism of action

BD has been key to augmenting our pipeline and providing access to differentiating technologies

Strengthening the pipeline in key areas of focus - immunology and genetics

• Zejula (PARP inhibitor)
• dostarlimab (PD-1 antagonist)
• TSR-022(TIM-3),TSR-033(LAG-3)

+ bintrafusp alfa (TGFβ trap/anti-PDL1)

• SRF813 (anti-PVRIG)
• 3 pre-clinical synthetic lethal programs MAT2A, Pol Theta and Werner Helicase
• anti-CD96(GSK'608)
• ~30 ongoing pre-clinical programmes

+ VIR 7831/7832 (GSK'136, SARS-CoV2)

• Up to 5 mRNA-based vaccines and mAbs
• Immune disorders of the digestive system
• Inhibitors of genetically validated target for neurological disease

Best-in-class functional genomics to help identify better targets

• Formed Laboratory for Genomics Research
• 3 projects initiated on genetics of disease in oncology (2) and neurodegeneration (1)
• 5-yrresearch collaboration in genetics and genomics

 Synthetic viability target discovery collaboration

Enhancing our cell therapy capabilities

 Optimising our T cell programmes (NY-ESO)

• Identifying next-generation T cell receptor therapeutics with a focus on solid tumours

BD, business development

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Multiple important catalysts in 2021

Anticipated submissions and approvals

Cabenuva (US) in HIV

cabotegravir LA PrEP in HIV

Nucala in NP (HES and EGPA in EU)

dostarlimab in 2L EC

COVID-19: otilimab, VIR-7831, vaccines

Pivotal data

VIR-7831 in COVID-19(COMET-ICE)daprodustat in renal anaemia dostarlimab combo 2L EC (RUBY)

bintrafusp alfa in BTC

COVID-19 vaccines

Pivotal study starts

GSK'294 IL-5 LA in asthma

RSV vaccine in Older Adults

linerixibat for cholestatic pruritis with PBC

Proof of concept*

otilimab in COVID-19 (OSCAR) feladilimab in NSCLC (ENTRÉE) NY-ESO in NSCLC

cobolimab in NSCLC

LAG-3 in ulcerative colitis* BLENREP plus GSI in MM**

S. Aureus vaccine*

Not comprehensive, *interim data, **preliminary data
NP: Nasal polyposis; HES: hypereosinophilic syndrome; EGPA, eosinophilic granulomatosis with polyangiitis; EC, endometrial cancer; dMMR, deficient MisMatch Repair; OC ovarian cancer; BTC, biliary tract cancer; RSV: respiratory syncytial	18
virus; PBC, primary biliary cholangitis; NSCLC: non-small cell lung cancer; GSI, gamma secretase inhibitors; MM, multiple myeloma

Building a sustainable pipeline of transformational vaccines and medicines

60 vaccines and medicines in our pipeline with >20 late-stage assets and

>10 with blockbuster potential

Significant progress in rebuilding Oncology, with a focus on immunology -

both IO and cell therapy

Highlighting today: BLENREP, feladilimab, GSK'608 CD96

Best in class Infectious Disease portfolio in Vaccines and Pharma

Highlighting today: RSV OA vaccine, Cabenuva,

cabotegravir LA PrEP, VIR-7831

Clear focus on life cycle innovation and building blockbusters

to maximise value

Highlighting today: Nucala/GSK'294 IL-5 LA

Multiple important catalysts in 2021

19

Q&A