Debt Investors

Haleon has solicited credit ratings from S&P and Moody’s as follows:

Type	S&P	Moody’s
Short-term rating	A-2	P-2
Long-term rating	BBB	Baa1
Outlook	Stable	Stable

As at 28^th July 2022

Haleon’s policy is to borrow centrally in order to meet anticipated funding requirements. The strategy is to diversify liquidity sources using a range of facilities and to maintain broad access to financial markets.

Short-term liquidity

Haleon has access to short-term finance under a $10 billion US commercial paper programme; £2 billion Euro commercial paper programme, £1 billion of medium-term committed facilities; $1.4 billion of 364 day committed facilities as well as the use of cash and cash equivalents and liquid investments.

The committed facilities were undrawn as at 28^th July 2022.

Medium / Long-term liquidity

Haleon has a £10 billion Euro Medium Term Note (EMTN) programme and a $8.8 billion 144A offering. Haleon has £1.5bn drawn on a 3-year Term Loan.

Programme	Limit	Rating (S&P/Moody’s)
Euro Commercial Paper	£2 billion	A-2 / P-2
US Commercial Paper	$10 billion	A-2 / P-2
GBP Term Loan	£1.5 billion	-
Euro Medium Term Note programme	£10 billion	BBB / Baa1
144A offering	-	BBB / Baa1

Issuing entities listed under EMTN programme:

• GSK Consumer Healthcare Capital NL B.V.
• GSK Consumer Healthcare Capital UK plc

Issuing entities listed under 144A offering:

• GSK Consumer Healthcare Capital US LLC
• GSK Consumer Healthcare Capital UK plc

EMTN Listing Particulars can be found here.

144A Offering Listing Particulars can be found here.

Mike Rowe Head of Treasury cf-treasury@haleon.com

Haleon Investor Relations investor-relations@haleon.com Tel: +44 (0) 7552 484 646