Financial Data and Key Metrics Changes - The company achieved 3.4% organic revenue growth in Q3, with a balance of 1.8% from price and 1.6% from volume mix [3][6] - Reported revenue grew by 0.7% in Q3, impacted by a 2.3% drag from divestments and a 0.4% impact from foreign exchange [6][7] - The company is on track to deliver its full-year guidance, expecting organic revenue growth of around 3.5% for 2025 [15][16] Business Line Data and Key Metrics Changes - Oral health grew by 6.9% in Q3, driven by innovation-led premiumization and geographic expansion [7][8] - The business line for pain relief grew by 3.7%, with Panadol showing high single-digit growth [8][9] - Respiratory health declined by 1.8%, while digestive health grew by 2.1% [9][10] Market Data and Key Metrics Changes - North America delivered organic revenue growth of 0.4%, driven by a 0.7% price increase, while volume mix decreased by 0.3% [10][12] - EMEA and LATAM saw organic revenue increase of 5.3%, with price growth at 3.5% and volume mix improvement of 1.8% [12][13] - Asia-Pacific experienced organic revenue growth of 5.1%, with strong performance in India and Southeast Asia [13][14] Company Strategy and Development Direction - The company is focusing on innovation-led premiumization to drive category growth and has made significant progress in its supply chain productivity agenda [5][6] - The company aims to strengthen its innovation pipeline and improve net revenue management through strategic pricing and channel mix [11][12] - The company is closely monitoring the macroeconomic environment in Latin America and expects to adapt its strategies accordingly [15][16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in returning to growth in North America next year, citing actions taken to improve inventory management and innovation pipeline [21][22] - The company anticipates continued strong growth in Q4, driven by salesforce investment and an improving macro environment [14][15] - Management noted that the consumer health market remains resilient despite macroeconomic pressures, particularly in oral health [58][59] Other Important Information - The company has completed EUR 500 million in share buybacks for 2025 [6] - The company reduced the number of SKUs by 19% since the beginning of 2024, improving gross margin and cash conversion [5][6] Q&A Session Summary Question: North America performance and future expectations - Management noted that the performance in North America was better than expected, driven by oral health and digestive health, with no significant one-offs affecting Q3 results [20][21] Question: Innovation pipeline for 2026 - The company highlighted a strong innovation pipeline across all categories, with no immediate need for RX to OTC switches impacting growth forecasts [28][29] Question: Pricing evolution in EMEA and LATAM - Management acknowledged competitive pressures leading to increased promotional activity, particularly in VMS, while maintaining resilience in oral health [47][72] Question: Category performance and consumer behavior - Management observed a bifurcated consumer environment, with some categories performing well while others struggled, emphasizing the importance of being present across all channels [41][42] Question: Inventory management and channel dynamics - Management confirmed that inventory levels are being adjusted based on consumption trends, with a focus on exiting the year in a clean position [36][66]

Financial Data and Key Metrics Changes - The company achieved 3.4% organic revenue growth in Q3, with a balance of 1.8% from price and 1.6% from volume mix [3][6] - Reported revenue grew 0.7% in Q3, impacted by a 2.3% drag from divestments and 0.4% from foreign exchange [6][7] - The company is on track to deliver its full-year guidance, expecting organic revenue growth of around 3.5% for 2025 [15][16] Business Line Data and Key Metrics Changes - Oral health grew 6.9% in Q3, driven by innovation-led premiumization and geographic expansion [7][8] - The business line for pain relief grew 3.7%, with Panadol showing high single-digit growth [8][9] - Respiratory health declined 1.8%, influenced by the previous year's elevated COVID cases [9][10] - Digestive health grew 2.1%, supported by innovations like TUMS Gummy Bites Plus [9][10] Market Data and Key Metrics Changes - North America delivered organic revenue growth of 0.4%, driven by 0.7% price increase, while volume mix decreased by 0.3% [10][12] - EMEA and LATAM saw organic revenue increase of 5.3%, with price at 3.5% and volume mix at 1.8% [12][13] - Asia-Pacific experienced organic revenue growth of 5.1%, with strong performance in India and Southeast Asia [13][14] Company Strategy and Development Direction - The company focuses on innovation-led premiumization to drive category growth and expand market reach [4][6] - Continued investment in supply chain productivity and cost discipline is emphasized to enhance flexibility and agility in P&L [5][6] - The company aims to strengthen its innovation pipeline and improve net revenue management in North America [11][22] Management's Comments on Operating Environment and Future Outlook - Management noted a challenging consumer backdrop in North America but highlighted outperformance in oral health and digestive health [3][10] - The company expects continued strong growth in Q4, driven by salesforce investment and an improving macro environment [14][15] - Management remains confident in returning to growth in North America next year, with actions in place to address inventory levels [22][66] Other Important Information - The company completed EUR 500 million in share buybacks for 2025 [6] - Significant progress has been made in reducing SKUs by 19%, improving gross margin and working capital [5][80] Q&A Session Summary Question: North America performance and future expectations - Management explained that the sequential improvement in North America was driven by reduced drag from smokers' health and better performance in oral and digestive health [20][21] - Guidance for Q4 suggests around 1% decline, reflecting tough comparatives from the prior year [21][22] Question: Innovation pipeline and cold/flu season outlook - Management confirmed a strong innovation pipeline across categories and noted that the cold and flu season's variability impacts guidance [28][30] Question: Channel dynamics and inventory management - Management discussed the differences in inventory levels across channels, with a focus on ensuring appropriate stock levels for growth next year [35][66] Question: Consumer behavior and market performance - Management highlighted a bifurcated consumer environment, with varying performance across categories and channels [41][42] Question: Oral care business performance - Management acknowledged softer performance in certain oral care brands but remains positive about overall oral health growth [70][72]

Financial Data and Key Metrics Changes - The company achieved 3.4% organic revenue growth in Q3, with a balance of 1.8% from price and 1.6% from volume mix [3][6] - Reported revenue grew by 0.7% in Q3, affected by a 2.3% drag from divestments and a 0.4% impact from foreign exchange [6][7] - The company is on track to deliver its full-year guidance, expecting organic revenue growth of around 3.5% for 2025 [15][16] Business Line Data and Key Metrics Changes - Oral health grew by 6.9% in Q3, driven by innovation and geographic expansion, particularly in markets like the US, India, and China [7][10] - The BMS category grew by 4.9% in Q3, with strong performance from Centrum [8] - Pain relief grew by 3.7%, with Panadol showing high single-digit growth, while respiratory health declined by 1.8% [8][9] - Digestive health grew by 2.1%, supported by innovations in TUMS and Benefiber [9] Market Data and Key Metrics Changes - North America delivered organic revenue growth of 0.4%, driven by oral health and digestive health, despite challenges in the respiratory category [10][11] - EMEA and LATAM saw organic revenue increase of 5.3%, with strong performance in oral health and VMS [11][12] - Asia-Pacific experienced organic revenue growth of 5.1%, with double-digit growth in India and strong performance in Southeast Asia [12][14] Company Strategy and Development Direction - The company is focused on driving category growth through innovation-led premiumization and expanding reach to lower-income consumers [4][5] - Continued investment in supply chain productivity and cost discipline is expected to enhance flexibility and agility in the P&L [5][6] - The company aims to return to growth in North America next year, supported by a strong innovation pipeline and strategic pricing initiatives [10][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving strong growth in Q4, driven by salesforce investment and an improving macro environment [14][15] - The company is closely monitoring the macroeconomic environment in Latin America due to consumer pressures [16] - Management highlighted the resilience of the oral health category and the importance of being present across all channels to cater to changing consumer behaviors [41][57] Other Important Information - The company has completed £500 million in share buybacks for 2025 [6] - Significant progress has been made in reducing SKUs by 19%, which is expected to improve gross margin and working capital [5][78] Q&A Session Summary Question: North America performance and future expectations - Management noted that the performance in North America was better than expected, driven by oral health and digestive health, with no one-off benefits impacting Q3 [19][20] - For Q4, a slight decline in organic sales growth is anticipated due to tough comparatives from the prior year [21][22] Question: Innovation pipeline and cold/flu season outlook - The company has a strong innovation pipeline across categories, with no immediate RX to OTC switches expected [27][29] - Guidance for the cold and flu season is based on a normal season assumption, with variability expected [30][31] Question: Consumer behavior and channel dynamics - Management observed a bifurcated consumer environment, with some products performing well while others struggle, and emphasized the importance of being present across all shopping channels [41][42] Question: Pricing evolution in EMEA and LATAM - Management indicated that competitive pressure and promotional activity have increased due to softer consumption, impacting pricing in EMEA and LATAM [46][47] Question: Contribution of innovations and pain franchise performance - Innovations have significantly contributed to growth, with ongoing launches expected to drive future performance [53][54]

2025 Third quarter trading statement October 2025 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 fin ...