2026 Q3 Trading Statement¹

Q3 organic revenue growth of +2.6% 

• Group: Organic revenue growth² of +2.6% with +2.1% price and +0.5% volume/mix
• Continued strength in Oral Health, up +8.8% underpinned by innovation
• Q3 performance held back by soft cold and flu consumption leading to lower orders in North America, and a raw material classification change for Centrum OTC products in China (see note on page 2)
• North America: +2.5% as encouraging progress and strong US execution in Sensodyne and Centrum driving consumption growing double digit
• Emerging Markets³: +5.1% led by high-teens growth in India underpinned by strong Sensodyne growth, continued e-comm momentum in China and sequential improvement across MEA 

Disciplined capital allocation underpinning shareholder returns  

• Leverage: Strong delivery of adjusted operating profit and cash generation driving de-leveraging
• Share buyback: Further £500m allocated to share buybacks⁴ to complete by FY results in Feb. ‘27

FY 2026 guidance

• Organic revenue growth: Now expected to be around 2.5% 
• Adjusted operating profit: Continue to expect high-single digit growth at constant currency

Brian McNamara, Chief Executive Officer, said:

“Our third quarter organic revenue growth of 2.6% was below our expectations as we navigated softness across some of our categories including weaker cough, cold and flu consumption. We delivered strong performances in Oral Health and our turnaround plan in North America continues to make progress. We are clear on where we need to improve and we are taking action to deliver stronger performance despite challenging markets.

High gross margin and continued progress on supply chain productivity provide us with a uniquely strong platform to invest behind our brands and capabilities while delivering strong growth in profit and cash. This also enables us to continue returning surplus capital to shareholders, and today we are announcing a further £500m allocation to share buybacks.

Our key priority is to drive stronger volume growth and return the business to consistent delivery of our medium-term growth guidance.”

2026 Outlook 

The FY 2026 guidance incorporates the 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. (See below). 

As a result, the Group now expects for FY 2026:

• Organic revenue growth to be around 2.5%  
• High-single digit adjusted operating profit growth at constant currency
• Net interest c.£255m; Adjusted effective tax rate c.24.5%

Foreign exchange 

The Group now expects a broadly neutral translational foreign exchange impact on net revenue and adjusted operating profit respectively, this is based on Bloomberg forward consensus rates averaged over 2026⁵. 

Raw material classification change for OTC Centrum products in China

Q3 performance was affected by a raw material classification change impacting Centrum’s OTC-registered products in China, which meant we had to cease importation until further notice. Centrum’s food-registered products are not impacted. This classification change was not related to product quality or safety. The Group generated c. £75m in revenue from Centrum OTC-registered products in FY 2025.

Accelerating go-to-market model in Brazil

In Brazil, we see an opportunity to drive more growth through optimisation of our go-to-market strategy. This change across all elements will enable broader market coverage and a more diversified customer base, together with a more efficient end-to-end supply chain, delivering better cost to serve and lower overall inventory. We had originally planned a gradual rollout through 2027, but in discussion with customers, we have decided to accelerate this change in the fourth quarter of 2026 to coincide with the implementation of Brazil’s new tax framework. The impact of this on the Group is expected to be c. £(15)-£(20)m on net revenue in the fourth quarter.

Presentation for analysts and shareholders 

A short presentation followed by Q&A will be hosted by Brian McNamara, Chief Executive Officer, and Dawn Allen, Chief Financial Officer at 9:00am GMT (10:00am CET) on 29 October 2026, which can be accessed at www.haleon.com/investors/.

For analysts and shareholders wishing to ask questions on the Q&A call, please use the dial-in details below which will have a Q&A facility: 

UK:               +44 (0) 808 189 0158
US:                +1 855 979 6654
All other:      +44 (0) 203 936 2999
Passcode:     627978

An archived webcast of the presentation will be available later on the day of the results and can be accessed at www.haleon.com/investors.

About Haleon plc 

Haleon (LSE/NYSE: HLN) is a consumer company that is solely focused on better everyday health. Our people, our brands, our research, our investment and our innovation are aimed at improving the everyday health of consumers. Our product portfolio spans six major categories - Oral Health, Vitamins, Minerals and Supplements (VMS), Pain Relief, Respiratory Health, Digestive Health and Therapeutic Skin Health and Other. Our superior brands - such as Advil, Centrum, Otrivin, Panadol, parodontax, Polident, Sensodyne, Theraflu and Voltaren are trusted by more than one billion consumers and are recommended by health professionals around the world. For more information please visit www.haleon.com.