Annual Governance Meeting 17 December 2019 Mili Oncology - PowerPoint PPT Presentation

Annual Governance Meeting 17 December 2019 Mili Oncology scientist Philadelphia, USA

Agenda 1. Welcome and Introductions 2. Chairman’s Report 3. Committee Reports − Audit & Risk Committee − Remuneration Committee − Corporate Responsibility Committee and Trust − Science Committee 4. Senior Independent Director’s Report 5. Questions 6. Discussion over tea and refreshments Strictly private and confidential 3

Board Jonathan Symonds Chairman Iain Mackay Emma Walmsley Dr Hal Barron CSO CFO CEO Dr Laurie Glimcher Scientific & Vindi Banga Dr Vivienne Cox Medical Expert Senior Independent Director Workforce Engagement Director Urs Rohner Jesse Goodman Judy Lewent Lynn Elsenhans Remuneration Committee Chair Science Committee Chair Audit & Risk Committee Chair Corporate Responsibility Scientific & Medical Expert & Financial Expert Committee Chair Strictly private and confidential 4

Board Tenure, Skills & Diversity Tenure in years International Experience International Experience 100% 10 Executive Director 100% 91% 91% 9 90% 82% Non-Executive Director 8 Year(s) of Service 80% 7 % with experience 70% 6 5 60% 4 50% 3 40% 2 30% 1 20% 0 10% 0% Global US Europe EMAP Geographic Region Gender Diversity Pharma Experience Female No previous Pharma 45% 55% experience 45% 55% Male Previous Pharma experience Strictly private and confidential 5

Chairman’s Report Jonathan Symonds - Chairman − Why GSK? − Induction, Shareholder Meetings & Initial Impressions of GSK − Audit & Risk Committee Succession − External Board Review − Board Governance Architecture ahead of Separation − Update on behalf of the Workforce Engagement Director (WED) − R&D: Pennsylvania, US − Vaccines: Wavre, Belgium − Consumer Healthcare: New Jersey, US Strictly private and confidential 6

Audit & Risk Committee Key aspects of the Committee’s work this year: – Financial Reporting & Significant Issues – Effectiveness of our new Auditor & Implications of Audit Reform – Changes to our Sales Force Incentive Programme – Performance and Trust Priorities – Oversight of Transactions: Tesaro • Consumer Healthcare Joint Venture with Pfizer • Internal Controls, Risk Management & Enterprise Risks – Cyber Security – Strictly private and confidential 7

Remuneration Committee Key aspects of the Committee’s work this year: – 2020 Review of Remuneration policy Alignment of LTI measures to delivery of Innovation priority – CEO Remuneration – Pension arrangements – Malus & Clawback provisions expanded – Loss of office payments policy – – Wider workforce pay Strictly private and confidential 8

Corporate Responsibility Committee & Trust Key aspects of the Committee’s work this year: – Sustainable approach to access and affordability – US pricing – Science-led, focused global health strategy – Healthcare Professional (HCP) Engagement and Sales Force Incentives – Environment – Modern Employer – Stakeholder & ESG Insights Strictly private and confidential 9

Science Committee Key aspects of the Committee’s work this year: – R&D ‘Science x Technology x Culture’ Update – R&D Pipeline Update – Reviews of: – Research – Development: Oncology & Non-Oncology – Vaccines – R&D Transformation – Business Development and Strategic Partnerships Strictly private and confidential 10

Senior Independent Director’s Report Vindi Banga – Chairman succession process – Perspectives on Board Dynamics – Role and contribution of Non Executive Directors Strictly private and confidential 11

Questions