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1 BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIESHaleon plc (the Company) and its subsidiary undertakings (collectively, the Group) is a global leader in consumer health, with a purpose to deliver better everyday health with humanity. Haleon’s 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. The condensed consolidated interim financial statements (interim financial statements) of the Group for the six months ended 30 June 2026 have been prepared in accordance with the IAS 34 Interim Financial Reporting as issued by the International Accounting Standards Board (IASB) and the International Financial Reporting Standards as adopted by the United Kingdom (UK IFRS). The condensed consolidated interim financial statements do not include all of the information required for a complete set of IFRS financial statements. However, selected notes are included to explain events and transactions that are significant to an understanding of the changes in the Group’s financial position and performance since the publication of the Group’s consolidated financial statements and related notes as at and for the year ended 31 December 2025.All accounting policies for recognition, measurement, consolidation, and presentation are as outlined in the published Group’s consolidated financial statements, and these accounting policies are applied consistently in preparation of the condensed consolidated interim financial statements. The condensed consolidated interim financial statements have been prepared on the historical cost basis, except for the revaluation of certain financial instruments, and are presented in Pounds Sterling, the presentation currency of the Group.These interim financial statements have been approved and authorised for issue by the Group’s Chief Financial Officer on 29 July 2026.Exchange ratesThe Group operates in many countries and earns revenues and incurs costs in many currencies. The results of the Group, as reported in Sterling, are affected by movements in exchange rates between Sterling and other currencies. Average exchange rates prevailing during the period, as modified by specific transaction rates for large transactions, are used to translate the results and cash flows of overseas subsidiaries into Sterling. Period-end rates are used to translate the net assets of those entities. The principal currencies and relevant exchange rates in the key markets where the Group operates are shown below. <table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:32.35%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:16.12%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:17.08%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:14.71%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:19.72%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:32.35%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:33.2%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Average rates</td><td colspan="2" style="vertical-align:bottom;width:34.44%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Period-end rates</td></tr><tr style=""><td style="vertical-align:bottom;width:32.35%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:16.12%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Six months ended 30 June 2026</td><td style="vertical-align:bottom;width:17.08%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Six months ended 30 June 2025</td><td style="vertical-align:bottom;width:14.71%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As at 30 June 2026</td><td style="vertical-align:bottom;width:19.72%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As at 30 June 2025</td></tr><tr style=""><td style="vertical-align:top;width:32.35%;margin:0pt;padding:0pt;">US$/£</td><td style="vertical-align:middle;white-space:nowrap;width:16.12%;margin:0pt;padding:0pt;"> 1.34</td><td style="vertical-align:middle;white-space:nowrap;width:17.08%;margin:0pt;padding:0pt;"> 1.30</td><td style="vertical-align:bottom;white-space:nowrap;width:14.71%;margin:0pt;padding:0pt;">1.32</td><td style="vertical-align:bottom;white-space:nowrap;width:19.72%;margin:0pt;padding:0pt;">1.37</td></tr><tr style=""><td style="vertical-align:top;width:32.35%;margin:0pt;padding:0pt;">Euro/£</td><td style="vertical-align:middle;white-space:nowrap;width:16.12%;margin:0pt;padding:0pt;"> 1.15</td><td style="vertical-align:middle;white-space:nowrap;width:17.08%;margin:0pt;padding:0pt;"> 1.19</td><td style="vertical-align:bottom;white-space:nowrap;width:14.71%;margin:0pt;padding:0pt;">1.16</td><td style="vertical-align:bottom;white-space:nowrap;width:19.72%;margin:0pt;padding:0pt;">1.17</td></tr><tr style=""><td style="vertical-align:top;width:32.35%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">CNY/£</td><td style="vertical-align:middle;white-space:nowrap;width:16.12%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> 9.24</td><td style="vertical-align:middle;white-space:nowrap;width:17.08%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> 9.42</td><td style="vertical-align:bottom;white-space:nowrap;width:14.71%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">8.98</td><td style="vertical-align:bottom;white-space:nowrap;width:19.72%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">9.82</td></tr></table>In addition, the Group is exposed to currency fluctuations across a broad-based global footprint of emerging markets which, when combined, represent a significant part of the Group’s revenue.Accounting for Argentina and Turkey as hyperinflationary economies The Argentinian and Turkish economies are designated as hyperinflationary for accounting purposes. The Group has monitored the impact of inflation on its subsidiaries in these countries and does not believe that inflation had a material impact on the group over the past years. As a result, application of IAS 29 ‘Financial Reporting in Hyperinflationary Economies’ has been applied to Haleon entities whose functional currency is the Argentinian Peso or Turkish Lira effective 1 January 2024. The application of IAS 29 includes: <table style="border-collapse:collapse;font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="font-family:'Verdana';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">•</td><td style="padding:0pt;">Adjusting historical cost non-monetary assets and liabilities for the change in purchasing power caused by inflation from the date of initial recognition to the balance sheet date.</td></tr></table><table style="border-collapse:collapse;font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">Adjusting the income statement for inflation during the reporting period.</td></tr></table><table style="border-collapse:collapse;font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">Translating the income statement at the period end foreign exchange rate instead of an average rate.</td></tr></table><table style="border-collapse:collapse;font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">Adjusting the income statement to reflect the impact of inflation and exchange rate movement on holding monetary assets and liabilities in local currency. </td></tr></table>The main effects of applying IAS 29 on the Group’s condensed consolidated interim financial statements are:<table style="border-collapse:collapse;font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:1.25;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">Revenue and operating profit, for the period increased by £7m and £2m respectively;</td></tr></table><table style="border-collapse:collapse;font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:1.25;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">A net monetary gain arising from hyperinflationary economies of £3m was recorded in the income statement reflecting the impact on non-monetary assets and liabilities of hyperinflation from 1 January 2026 to 30 June 2026.</td></tr></table>Going concernThe Directors have reviewed the Group’s cash flow forecasts, financial position and exposure to principal risks and have formed the view that the Group will generate sufficient cash to meet its ongoing requirements for at least 12 months from the date the condensed consolidated interim financial statements have been authorised. At 30 June 2026, the Group had cash and cash equivalents, net of bank overdrafts, of £805m and undrawn credit facility of £1,750m with maturity dates of August 2029. In addition, the Group has commercial paper programmes (with maximum aggregate amounts of €2bn and $10bn) pursuant to which members of the Group may issue commercial paper from time to time. As a result, the Directors believe that it is appropriate to adopt the going concern basis of accounting in preparing the Group’s condensed consolidated interim financial statements.Judgements and estimatesIn preparing the condensed consolidated interim financial statements, management is required to make judgements about when or how items should be recognised in the condensed consolidated interim financial statements and estimates and assumptions that affect the amounts of assets and liabilities, income and expenses reported in the condensed consolidated interim financial statements. Actual amounts and results could differ from these estimates. The critical areas of accounting estimates and judgements are the same as those disclosed in the published Group consolidated financial statements and related notes as at and for the year ended 31 December 2025. Recent accounting developmentsIFRS 18 ‘Presentation and Disclosure in Financial Statements’ will replace IAS 1 ‘ Presentation of Financial Statements’ and applies for annual and interim reporting periods beginning on or after 1 January 2027. As described in the Annual Report and Form 20-F 2025, the Group continues to assess the impact of IFRS 18, with initial system and process changes underway, while further work to finalise the financial statement presentation and disclosure is ongoing.All new accounting standards, amendments to accounting standards and interpretations that have been published by the IASB and are not effective for 30 June 2026 reporting period, have not been early adopted by the Group. Other than IFRS 18, these standards, amendments or interpretations are not expected to have a material impact on the entity in the current or future reporting periods. 6

Exchange ratesThe Group operates in many countries and earns revenues and incurs costs in many currencies. The results of the Group, as reported in Sterling, are affected by movements in exchange rates between Sterling and other currencies. Average exchange rates prevailing during the period, as modified by specific transaction rates for large transactions, are used to translate the results and cash flows of overseas subsidiaries into Sterling. Period-end rates are used to translate the net assets of those entities. The principal currencies and relevant exchange rates in the key markets where the Group operates are shown below. <table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:32.35%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:16.12%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:17.08%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:14.71%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:19.72%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:32.35%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:33.2%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Average rates</td><td colspan="2" style="vertical-align:bottom;width:34.44%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Period-end rates</td></tr><tr style=""><td style="vertical-align:bottom;width:32.35%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:16.12%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Six months ended 30 June 2026</td><td style="vertical-align:bottom;width:17.08%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Six months ended 30 June 2025</td><td style="vertical-align:bottom;width:14.71%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As at 30 June 2026</td><td style="vertical-align:bottom;width:19.72%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As at 30 June 2025</td></tr><tr style=""><td style="vertical-align:top;width:32.35%;margin:0pt;padding:0pt;">US$/£</td><td style="vertical-align:middle;white-space:nowrap;width:16.12%;margin:0pt;padding:0pt;"> 1.34</td><td style="vertical-align:middle;white-space:nowrap;width:17.08%;margin:0pt;padding:0pt;"> 1.30</td><td style="vertical-align:bottom;white-space:nowrap;width:14.71%;margin:0pt;padding:0pt;">1.32</td><td style="vertical-align:bottom;white-space:nowrap;width:19.72%;margin:0pt;padding:0pt;">1.37</td></tr><tr style=""><td style="vertical-align:top;width:32.35%;margin:0pt;padding:0pt;">Euro/£</td><td style="vertical-align:middle;white-space:nowrap;width:16.12%;margin:0pt;padding:0pt;"> 1.15</td><td style="vertical-align:middle;white-space:nowrap;width:17.08%;margin:0pt;padding:0pt;"> 1.19</td><td style="vertical-align:bottom;white-space:nowrap;width:14.71%;margin:0pt;padding:0pt;">1.16</td><td style="vertical-align:bottom;white-space:nowrap;width:19.72%;margin:0pt;padding:0pt;">1.17</td></tr><tr style=""><td style="vertical-align:top;width:32.35%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">CNY/£</td><td style="vertical-align:middle;white-space:nowrap;width:16.12%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> 9.24</td><td style="vertical-align:middle;white-space:nowrap;width:17.08%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> 9.42</td><td style="vertical-align:bottom;white-space:nowrap;width:14.71%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">8.98</td><td style="vertical-align:bottom;white-space:nowrap;width:19.72%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">9.82</td></tr></table>In addition, the Group is exposed to currency fluctuations across a broad-based global footprint of emerging markets which, when combined, represent a significant part of the Group’s revenue.

<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:32.35%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:16.12%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:17.08%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:14.71%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:19.72%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:32.35%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:33.2%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Average rates</td><td colspan="2" style="vertical-align:bottom;width:34.44%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Period-end rates</td></tr><tr style=""><td style="vertical-align:bottom;width:32.35%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:16.12%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Six months ended 30 June 2026</td><td style="vertical-align:bottom;width:17.08%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Six months ended 30 June 2025</td><td style="vertical-align:bottom;width:14.71%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As at 30 June 2026</td><td style="vertical-align:bottom;width:19.72%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As at 30 June 2025</td></tr><tr style=""><td style="vertical-align:top;width:32.35%;margin:0pt;padding:0pt;">US$/£</td><td style="vertical-align:middle;white-space:nowrap;width:16.12%;margin:0pt;padding:0pt;"> 1.34</td><td style="vertical-align:middle;white-space:nowrap;width:17.08%;margin:0pt;padding:0pt;"> 1.30</td><td style="vertical-align:bottom;white-space:nowrap;width:14.71%;margin:0pt;padding:0pt;">1.32</td><td style="vertical-align:bottom;white-space:nowrap;width:19.72%;margin:0pt;padding:0pt;">1.37</td></tr><tr style=""><td style="vertical-align:top;width:32.35%;margin:0pt;padding:0pt;">Euro/£</td><td style="vertical-align:middle;white-space:nowrap;width:16.12%;margin:0pt;padding:0pt;"> 1.15</td><td style="vertical-align:middle;white-space:nowrap;width:17.08%;margin:0pt;padding:0pt;"> 1.19</td><td style="vertical-align:bottom;white-space:nowrap;width:14.71%;margin:0pt;padding:0pt;">1.16</td><td style="vertical-align:bottom;white-space:nowrap;width:19.72%;margin:0pt;padding:0pt;">1.17</td></tr><tr style=""><td style="vertical-align:top;width:32.35%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">CNY/£</td><td style="vertical-align:middle;white-space:nowrap;width:16.12%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> 9.24</td><td style="vertical-align:middle;white-space:nowrap;width:17.08%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> 9.42</td><td style="vertical-align:bottom;white-space:nowrap;width:14.71%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">8.98</td><td style="vertical-align:bottom;white-space:nowrap;width:19.72%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">9.82</td></tr></table>

1.34

1.3

1.32

1.37

1.15

1.19

1.16

1.17

9.24

9.42

8.98

9.82

Accounting for Argentina and Turkey as hyperinflationary economies The Argentinian and Turkish economies are designated as hyperinflationary for accounting purposes. The Group has monitored the impact of inflation on its subsidiaries in these countries and does not believe that inflation had a material impact on the group over the past years. As a result, application of IAS 29 ‘Financial Reporting in Hyperinflationary Economies’ has been applied to Haleon entities whose functional currency is the Argentinian Peso or Turkish Lira effective 1 January 2024. The application of IAS 29 includes: <table style="border-collapse:collapse;font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="font-family:'Verdana';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">•</td><td style="padding:0pt;">Adjusting historical cost non-monetary assets and liabilities for the change in purchasing power caused by inflation from the date of initial recognition to the balance sheet date.</td></tr></table><table style="border-collapse:collapse;font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">Adjusting the income statement for inflation during the reporting period.</td></tr></table><table style="border-collapse:collapse;font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">Translating the income statement at the period end foreign exchange rate instead of an average rate.</td></tr></table><table style="border-collapse:collapse;font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">Adjusting the income statement to reflect the impact of inflation and exchange rate movement on holding monetary assets and liabilities in local currency. </td></tr></table>The main effects of applying IAS 29 on the Group’s condensed consolidated interim financial statements are:<table style="border-collapse:collapse;font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:1.25;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">Revenue and operating profit, for the period increased by £7m and £2m respectively;</td></tr></table><table style="border-collapse:collapse;font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:1.25;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">A net monetary gain arising from hyperinflationary economies of £3m was recorded in the income statement reflecting the impact on non-monetary assets and liabilities of hyperinflation from 1 January 2026 to 30 June 2026.</td></tr></table> 7000000 2000000

3000000

Going concernThe Directors have reviewed the Group’s cash flow forecasts, financial position and exposure to principal risks and have formed the view that the Group will generate sufficient cash to meet its ongoing requirements for at least 12 months from the date the condensed consolidated interim financial statements have been authorised. At 30 June 2026, the Group had cash and cash equivalents, net of bank overdrafts, of £805m and undrawn credit facility of £1,750m with maturity dates of August 2029. In addition, the Group has commercial paper programmes (with maximum aggregate amounts of €2bn and $10bn) pursuant to which members of the Group may issue commercial paper from time to time. As a result, the Directors believe that it is appropriate to adopt the going concern basis of accounting in preparing the Group’s condensed consolidated interim financial statements.

805000000

1750000000000

2000000000

10000000000

Judgements and estimatesIn preparing the condensed consolidated interim financial statements, management is required to make judgements about when or how items should be recognised in the condensed consolidated interim financial statements and estimates and assumptions that affect the amounts of assets and liabilities, income and expenses reported in the condensed consolidated interim financial statements. Actual amounts and results could differ from these estimates. The critical areas of accounting estimates and judgements are the same as those disclosed in the published Group consolidated financial statements and related notes as at and for the year ended 31 December 2025. Recent accounting developmentsIFRS 18 ‘Presentation and Disclosure in Financial Statements’ will replace IAS 1 ‘ Presentation of Financial Statements’ and applies for annual and interim reporting periods beginning on or after 1 January 2027. As described in the Annual Report and Form 20-F 2025, the Group continues to assess the impact of IFRS 18, with initial system and process changes underway, while further work to finalise the financial statement presentation and disclosure is ongoing.All new accounting standards, amendments to accounting standards and interpretations that have been published by the IASB and are not effective for 30 June 2026 reporting period, have not been early adopted by the Group. Other than IFRS 18, these standards, amendments or interpretations are not expected to have a material impact on the entity in the current or future reporting periods.

2 REVENUE AND SEGMENT INFORMATIONAligned with the announcement on 8 January 2026 regarding Haleon’s new operating model, Haleon now operate with six Operating Units (OUs) based on geographical areas: <div style="margin-top:12pt;"></div><table style="border-collapse:collapse;font-family:'Verdana';font-size:10pt;line-height:1.37;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Symbol';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:11.5pt;padding:0pt;">-</td><td style="padding:0pt;">North America </td></tr></table><table style="border-collapse:collapse;font-family:'Verdana';font-size:10pt;line-height:1.37;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Symbol';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:11.5pt;padding:0pt;">-</td><td style="padding:0pt;">Europe </td></tr></table><table style="border-collapse:collapse;font-family:'Verdana';font-size:10pt;line-height:1.37;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Symbol';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:11.5pt;padding:0pt;">-</td><td style="padding:0pt;">Latin America (LatAm) </td></tr></table><table style="border-collapse:collapse;font-family:'Verdana';font-size:10pt;line-height:1.37;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Symbol';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:11.5pt;padding:0pt;">-</td><td style="padding:0pt;">Middle East & Africa (MEA) </td></tr></table><table style="border-collapse:collapse;font-family:'Verdana';font-size:10pt;line-height:1.37;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Symbol';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:11.5pt;padding:0pt;">-</td><td style="padding:0pt;">Asia Pacific (APAC) </td></tr></table><table style="border-collapse:collapse;font-family:'Verdana';font-size:10pt;line-height:1.37;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Symbol';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:11.5pt;padding:0pt;">-</td><td style="padding:0pt;">India Subcontinent (ISC)  </td></tr></table><div style="margin-top:3pt;"></div> The Group’s OUs will be reported as four reportable operating segments as set out below. LatAm, MEA and ISC have been aggregated to form the fourth reportable operating segment known as ‘International’. <div style="margin-top:12pt;"></div><table style="border-collapse:collapse;font-family:'Verdana';font-size:10pt;line-height:1.37;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Symbol';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:11.5pt;padding:0pt;">-</td><td style="padding:0pt;">North America </td></tr></table><table style="border-collapse:collapse;font-family:'Verdana';font-size:10pt;line-height:1.37;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Symbol';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:11.5pt;padding:0pt;">-</td><td style="padding:0pt;">Europe </td></tr></table><table style="border-collapse:collapse;font-family:'Verdana';font-size:10pt;line-height:1.37;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Symbol';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:11.5pt;padding:0pt;">-</td><td style="padding:0pt;">Asia Pacific </td></tr></table><table style="border-collapse:collapse;font-family:'Verdana';font-size:10pt;line-height:1.37;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Symbol';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:11.5pt;padding:0pt;">-</td><td style="padding:0pt;">International</td></tr></table><div style="margin-top:3pt;"></div>Since 1 April 2026, the Group’s Performance Board, which consists of the Group’s CEO, CFO and other members of senior leadership from across the OUs, is the Chief Operating Decision Maker (CODM) who monitors the operating results of the Group’s reportable segments separately for the purpose of making decisions about resource allocation and performance assessment. The CODM uses a measure of adjusted operating profit to assess the performance of the reportable segments. Adjusted operating profit is defined as operating profit less net intangible amortisation and impairment of brands, licences, and patents, restructuring costs, transaction-related costs, separation and admission costs, and disposals and others. The CODM does not review IFRS operating profit or total assets and liabilities on a segment basis.The composition of these geographical segments is reviewed on an annual basis. Analysis of revenue and adjusted operating profit by geographical segment is included below:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:middle;white-space:nowrap;width:73.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.29%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.29%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:73.4%;background:#ffffff;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:26.59%;background:#ffffff;margin:0pt;padding:0pt;">Six months ended 30 June</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:73.4%;background:#ffffff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.29%;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:13.29%;background:#ffffff;margin:0pt;padding:0pt;">2025 1</td></tr><tr style=""><td style="vertical-align:bottom;width:73.4%;background:#ffffff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Revenue by segment</td><td style="vertical-align:bottom;white-space:nowrap;width:13.29%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">£m</td><td style="vertical-align:bottom;white-space:nowrap;width:13.29%;background:#ffffff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">£m</td></tr><tr style=""><td style="vertical-align:top;width:73.4%;background:#ffffff;margin:0pt;padding:0pt;">North America</td><td style="vertical-align:bottom;white-space:nowrap;width:13.29%;margin:0pt;padding:0pt;"> 1,830</td><td style="vertical-align:bottom;white-space:nowrap;width:13.29%;background:#ffffff;margin:0pt;padding:0pt;"> 1,851</td></tr><tr style=""><td style="vertical-align:top;width:73.4%;background:#ffffff;margin:0pt;padding:0pt;">Europe</td><td style="vertical-align:bottom;white-space:nowrap;width:13.29%;margin:0pt;padding:0pt;"> 1,631</td><td style="vertical-align:bottom;white-space:nowrap;width:13.29%;background:#ffffff;margin:0pt;padding:0pt;"> 1,556</td></tr><tr style=""><td style="vertical-align:top;width:73.4%;background:#ffffff;margin:0pt;padding:0pt;">APAC</td><td style="vertical-align:bottom;white-space:nowrap;width:13.29%;margin:0pt;padding:0pt;"> 1,182</td><td style="vertical-align:bottom;white-space:nowrap;width:13.29%;background:#ffffff;margin:0pt;padding:0pt;"> 1,149</td></tr><tr style=""><td style="vertical-align:top;width:73.4%;background:#ffffff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">International</td><td style="vertical-align:bottom;white-space:nowrap;width:13.29%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 959</td><td style="vertical-align:bottom;white-space:nowrap;width:13.29%;background:#ffffff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 924</td></tr><tr style=""><td style="vertical-align:top;width:73.4%;background:#ffffff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Group revenue</td><td style="vertical-align:bottom;white-space:nowrap;width:13.29%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 5,602</td><td style="vertical-align:bottom;white-space:nowrap;width:13.29%;background:#ffffff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 5,480</td></tr></table><table style="border-collapse:collapse;border:0;"><tr><td style="vertical-align:text-top;white-space:nowrap;width:14.4pt;padding:0pt;">1</td><td style="padding:0pt;">Following the change in operating model structure announced on 8 January 2026, 2025 figures have been restated </td></tr></table><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:73.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.29%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.29%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:73.4%;background:#ffffff;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:26.59%;background:#ffffff;margin:0pt;padding:0pt;">Six months ended 30 June</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:73.4%;background:#ffffff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.29%;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:13.29%;background:#ffffff;margin:0pt;padding:0pt;">2025</td></tr><tr style=""><td style="vertical-align:middle;width:73.4%;background:#ffffff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Adjusted operating profit by segment</td><td style="vertical-align:bottom;white-space:nowrap;width:13.29%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">£m</td><td style="vertical-align:bottom;white-space:nowrap;width:13.29%;background:#ffffff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">£m</td></tr><tr style=""><td style="vertical-align:middle;width:73.4%;background:#ffffff;margin:0pt;padding:0pt;">Group operating profit</td><td style="vertical-align:middle;width:13.29%;margin:0pt;padding:0pt;"> 1,172</td><td style="vertical-align:middle;width:13.29%;background:#ffffff;margin:0pt;padding:0pt;"> 1,203</td></tr><tr style=""><td style="vertical-align:middle;width:73.4%;background:#ffffff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Reconciling items between Group operating profit and Group adjusted operating profit2</td><td style="vertical-align:middle;white-space:nowrap;width:13.29%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 192</td><td style="vertical-align:middle;width:13.29%;background:#ffffff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 40</td></tr><tr style=""><td style="vertical-align:middle;width:73.4%;background:#ffffff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:middle;width:13.29%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,364</td><td style="vertical-align:middle;width:13.29%;background:#ffffff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,243</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:73.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:13.29%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:13.29%;margin:0pt;padding:0pt;"></td></tr></table><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:73.4%;background:#ffffff;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:26.59%;margin:0pt;padding:0pt;">Six months ended 30 June</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:73.4%;background:#ffffff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.29%;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:13.29%;background:#ffffff;margin:0pt;padding:0pt;">2025 1</td></tr><tr style=""><td style="vertical-align:middle;width:73.4%;background:#ffffff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.29%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">£m</td><td style="vertical-align:bottom;white-space:nowrap;width:13.29%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">£m</td></tr><tr style=""><td style="vertical-align:middle;width:73.4%;background:#ffffff;margin:0pt;padding:0pt;">North America</td><td style="vertical-align:middle;width:13.29%;margin:0pt;padding:0pt;"> 425</td><td style="vertical-align:middle;width:13.29%;margin:0pt;padding:0pt;"> 389</td></tr><tr style=""><td style="vertical-align:middle;width:73.4%;background:#ffffff;margin:0pt;padding:0pt;">Europe</td><td style="vertical-align:middle;width:13.29%;margin:0pt;padding:0pt;"> 522</td><td style="vertical-align:middle;width:13.29%;margin:0pt;padding:0pt;"> 441</td></tr><tr style=""><td style="vertical-align:middle;width:73.4%;background:#ffffff;margin:0pt;padding:0pt;">APAC</td><td style="vertical-align:middle;width:13.29%;margin:0pt;padding:0pt;"> 292</td><td style="vertical-align:middle;width:13.29%;margin:0pt;padding:0pt;"> 274</td></tr><tr style=""><td style="vertical-align:middle;width:73.4%;background:#ffffff;margin:0pt;padding:0pt;">International</td><td style="vertical-align:middle;width:13.29%;margin:0pt;padding:0pt;"> 193</td><td style="vertical-align:middle;width:13.29%;margin:0pt;padding:0pt;"> 172</td></tr><tr style=""><td style="vertical-align:middle;width:73.4%;background:#ffffff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Corporate and other unallocated</td><td style="vertical-align:middle;width:13.29%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (68)</td><td style="vertical-align:middle;width:13.29%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (33)</td></tr><tr style=""><td style="vertical-align:middle;width:73.4%;background:#ffffff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:middle;width:13.29%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,364</td><td style="vertical-align:middle;width:13.29%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,243</td></tr></table><table style="border-collapse:collapse;font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:1.37;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="font-family:'Verdana';font-size:7.5pt;vertical-align:top;white-space:nowrap;width:14.4pt;padding:0pt;">1.</td><td style="padding:0pt;">Following the change in operating model structure announced on 8 January 2026, 2025 figures have been restated </td></tr></table><table style="border-collapse:collapse;font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:1.37;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="font-family:'Verdana';font-size:7.5pt;vertical-align:top;white-space:nowrap;width:14.4pt;padding:0pt;">2.</td><td style="padding:0pt;">The reconciling items above include: </td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:14.4pt;"></td><td style="font-family:'Verdana';font-size:8pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">a)</td><td style="padding:0pt;">Net amortisation and impairment of intangible assets of £28m (2025: £26m). </td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:14.4pt;"></td><td style="font-family:'Verdana';font-size:8pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">b)</td><td style="padding:0pt;">Restructuring costs of £169m (2025: £26m). </td></tr></table>The primary products sold by each of the reportable segments consist of Oral Health, Vitamins, Minerals, and Supplements (VMS), Pain Relief, Respiratory Health, Digestive Health, and Therapeutic Skin Health and Other and the product portfolio is consistent across the reportable segments. Analysis of revenue by product category is included below:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100.69%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:69.09%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:15.45%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:15.45%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:69.09%;background:#ffffff;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:30.9%;background:#ffffff;margin:0pt;padding:0pt;">Six months ended 30 June</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:69.09%;background:#ffffff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.45%;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:15.45%;background:#ffffff;margin:0pt;padding:0pt;">2025</td></tr><tr style=""><td style="vertical-align:middle;width:69.09%;background:#ffffff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Revenue by product category</td><td style="vertical-align:bottom;white-space:nowrap;width:15.45%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">£m</td><td style="vertical-align:bottom;white-space:nowrap;width:15.45%;background:#ffffff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">£m</td></tr><tr style=""><td style="vertical-align:top;width:69.09%;background:#ffffff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.45%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:15.45%;background:#ffffff;margin:0pt;padding:0pt;"> </td></tr><tr style=""><td style="vertical-align:top;width:69.09%;background:#ffffff;margin:0pt;padding:0pt;">Oral Health</td><td style="vertical-align:bottom;white-space:nowrap;width:15.45%;margin:0pt;padding:0pt;"> 1,838</td><td style="vertical-align:bottom;white-space:nowrap;width:15.45%;background:#ffffff;margin:0pt;padding:0pt;"> 1,728</td></tr><tr style=""><td style="vertical-align:top;width:69.09%;background:#ffffff;margin:0pt;padding:0pt;">Vitamins, Minerals and Supplements </td><td style="vertical-align:bottom;white-space:nowrap;width:15.45%;margin:0pt;padding:0pt;"> 849</td><td style="vertical-align:bottom;white-space:nowrap;width:15.45%;background:#ffffff;margin:0pt;padding:0pt;"> 833</td></tr><tr style=""><td style="vertical-align:top;width:69.09%;background:#ffffff;margin:0pt;padding:0pt;">Pain Relief</td><td style="vertical-align:bottom;white-space:nowrap;width:15.45%;margin:0pt;padding:0pt;"> 1,323</td><td style="vertical-align:bottom;white-space:nowrap;width:15.45%;background:#ffffff;margin:0pt;padding:0pt;"> 1,286</td></tr><tr style=""><td style="vertical-align:top;width:69.09%;background:#ffffff;margin:0pt;padding:0pt;">Respiratory Health</td><td style="vertical-align:bottom;white-space:nowrap;width:15.45%;margin:0pt;padding:0pt;"> 850</td><td style="vertical-align:bottom;white-space:nowrap;width:15.45%;background:#ffffff;margin:0pt;padding:0pt;"> 893</td></tr><tr style=""><td style="vertical-align:top;width:69.09%;background:#ffffff;margin:0pt;padding:0pt;">Digestive Health</td><td style="vertical-align:bottom;white-space:nowrap;width:15.45%;margin:0pt;padding:0pt;"> 490</td><td style="vertical-align:bottom;white-space:nowrap;width:15.45%;background:#ffffff;margin:0pt;padding:0pt;"> 491</td></tr><tr style=""><td style="vertical-align:top;width:69.09%;background:#ffffff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Therapeutic Skin Health and Other</td><td style="vertical-align:bottom;white-space:nowrap;width:15.45%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 252</td><td style="vertical-align:bottom;white-space:nowrap;width:15.45%;background:#ffffff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 249</td></tr><tr style=""><td style="vertical-align:top;width:69.09%;background:#ffffff;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">Group revenue</td><td style="vertical-align:bottom;white-space:nowrap;width:15.45%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> 5,602</td><td style="vertical-align:bottom;white-space:nowrap;width:15.45%;background:#ffffff;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> 5,480</td></tr></table>

6 4

1830000000

1851000000

1631000000

1556000000

1182000000

1149000000

959000000

924000000

5602000000

5480000000

1172000000

1203000000

192000000 40000000 1364000000 1243000000 425000000 389000000 522000000 441000000 292000000 274000000 193000000 172000000 -68000000 -33000000 1364000000 1243000000 28000000 26000000

169000000

26000000

Analysis of revenue by product category is included below:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100.69%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:69.09%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:15.45%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:15.45%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:69.09%;background:#ffffff;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:30.9%;background:#ffffff;margin:0pt;padding:0pt;">Six months ended 30 June</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:69.09%;background:#ffffff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.45%;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:15.45%;background:#ffffff;margin:0pt;padding:0pt;">2025</td></tr><tr style=""><td style="vertical-align:middle;width:69.09%;background:#ffffff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Revenue by product category</td><td style="vertical-align:bottom;white-space:nowrap;width:15.45%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">£m</td><td style="vertical-align:bottom;white-space:nowrap;width:15.45%;background:#ffffff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">£m</td></tr><tr style=""><td style="vertical-align:top;width:69.09%;background:#ffffff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.45%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:15.45%;background:#ffffff;margin:0pt;padding:0pt;"> </td></tr><tr style=""><td style="vertical-align:top;width:69.09%;background:#ffffff;margin:0pt;padding:0pt;">Oral Health</td><td style="vertical-align:bottom;white-space:nowrap;width:15.45%;margin:0pt;padding:0pt;"> 1,838</td><td style="vertical-align:bottom;white-space:nowrap;width:15.45%;background:#ffffff;margin:0pt;padding:0pt;"> 1,728</td></tr><tr style=""><td style="vertical-align:top;width:69.09%;background:#ffffff;margin:0pt;padding:0pt;">Vitamins, Minerals and Supplements </td><td style="vertical-align:bottom;white-space:nowrap;width:15.45%;margin:0pt;padding:0pt;"> 849</td><td style="vertical-align:bottom;white-space:nowrap;width:15.45%;background:#ffffff;margin:0pt;padding:0pt;"> 833</td></tr><tr style=""><td style="vertical-align:top;width:69.09%;background:#ffffff;margin:0pt;padding:0pt;">Pain Relief</td><td style="vertical-align:bottom;white-space:nowrap;width:15.45%;margin:0pt;padding:0pt;"> 1,323</td><td style="vertical-align:bottom;white-space:nowrap;width:15.45%;background:#ffffff;margin:0pt;padding:0pt;"> 1,286</td></tr><tr style=""><td style="vertical-align:top;width:69.09%;background:#ffffff;margin:0pt;padding:0pt;">Respiratory Health</td><td style="vertical-align:bottom;white-space:nowrap;width:15.45%;margin:0pt;padding:0pt;"> 850</td><td style="vertical-align:bottom;white-space:nowrap;width:15.45%;background:#ffffff;margin:0pt;padding:0pt;"> 893</td></tr><tr style=""><td style="vertical-align:top;width:69.09%;background:#ffffff;margin:0pt;padding:0pt;">Digestive Health</td><td style="vertical-align:bottom;white-space:nowrap;width:15.45%;margin:0pt;padding:0pt;"> 490</td><td style="vertical-align:bottom;white-space:nowrap;width:15.45%;background:#ffffff;margin:0pt;padding:0pt;"> 491</td></tr><tr style=""><td style="vertical-align:top;width:69.09%;background:#ffffff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Therapeutic Skin Health and Other</td><td style="vertical-align:bottom;white-space:nowrap;width:15.45%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 252</td><td style="vertical-align:bottom;white-space:nowrap;width:15.45%;background:#ffffff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 249</td></tr><tr style=""><td style="vertical-align:top;width:69.09%;background:#ffffff;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">Group revenue</td><td style="vertical-align:bottom;white-space:nowrap;width:15.45%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> 5,602</td><td style="vertical-align:bottom;white-space:nowrap;width:15.45%;background:#ffffff;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> 5,480</td></tr></table>

1838000000

1728000000

849000000

833000000

1323000000

1286000000

850000000

893000000

490000000

491000000

252000000

249000000

5602000000

5480000000

3 IMPAIRMENT REVIEWIn accordance with IAS 34 Interim Financial Reporting, the Group has undertaken a review for indications of impairment and concluded that no impairment assessment trigger events have occurred in the six months ended 30 June 2026.Management do not consider that any reasonably possible changes in the key assumptions would cause the fair value less costs of disposal of the individually significant brands to fall below their carrying values.

4 RESTRUCTURING COSTSRestructuring costs include severance and other personnel costs, professional fees, impairments of assets and other related items. The Group’s restructuring costs for the six months ended 30 June 2026 totalled £169m (2025: £26m). This primarily includes a charge of £168m relating to the operating model transformation announced on 8 January 2026, partially offset by gains of £21m arising from the Maidenhead site closure.On 8 January 2026, Haleon announced an evolution of its operating model to support the delivery of its Win as One strategy. The changes include the establishment of six Operating Units and changes to the Group's leadership and organisational structure. The restructuring charges primarily relate to employee-related costs arising from organisational changes associated with the implementation of the new operating model. Of the total restructuring charge, £151m relates to severance and other termination benefits for impacted employees, with the remainder relating to other directly attributable restructuring costs.Restructuring costs are reported within cost of sales (2026: £9m, 2025: £11m), selling, general and administration (2026: £156m, 2025: £14m) and research and development (2026: £4m, 2025: £1m).

169000000

26000000

168000000 21000000 6 151000000

9000000

11000000

156000000

14000000

4000000

1000000

5 TAXFor the six months ended 30 June 2026, the income tax expense has been determined based on management’s best estimate of the effective tax rate applicable for the full year. This is then applied to the pre-tax profit of the interim period, with the tax due on adjusting items considered on an item-by- item basis.<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:middle;width:21.84%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:12.27%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:12.27%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:12.27%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:4.46%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:12.27%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:12.27%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:12.29%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:21.84%;margin:0pt;padding:0pt;"></td><td colspan="7" style="vertical-align:bottom;white-space:nowrap;width:78.15%;margin:0pt;padding:0pt;">Six months ended 30 June</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:21.84%;margin:0pt;padding:0pt;"></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:36.83%;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:4.46%;margin:0pt;padding:0pt;"></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:36.85%;margin:0pt;padding:0pt;">2025</td></tr><tr style=""><td style="vertical-align:middle;width:21.84%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:12.27%;margin:0pt;padding:0pt;">Pre-tax profit </td><td style="vertical-align:middle;width:12.27%;margin:0pt;padding:0pt;">Tax</td><td style="vertical-align:middle;width:12.27%;margin:0pt;padding:0pt;">Tax rate</td><td style="vertical-align:middle;width:4.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:12.27%;margin:0pt;padding:0pt;">Pre-tax profit </td><td style="vertical-align:middle;width:12.27%;margin:0pt;padding:0pt;">Tax</td><td style="vertical-align:middle;width:12.29%;margin:0pt;padding:0pt;">Tax rate</td></tr><tr style=""><td style="vertical-align:middle;width:21.84%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:12.27%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">£m</td><td style="vertical-align:middle;width:12.27%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">£m</td><td style="vertical-align:middle;width:12.27%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">%</td><td style="vertical-align:middle;width:4.46%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:12.27%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">£m</td><td style="vertical-align:middle;width:12.27%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">£m</td><td style="vertical-align:middle;width:12.29%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">%</td></tr><tr style=""><td style="vertical-align:middle;width:21.84%;margin:0pt;padding:0pt;">IFRS</td><td style="vertical-align:middle;width:12.27%;margin:0pt;padding:0pt;">1,056</td><td style="vertical-align:middle;width:12.27%;margin:0pt;padding:0pt;">(286)</td><td style="vertical-align:middle;width:12.27%;margin:0pt;padding:0pt;">27.1%</td><td style="vertical-align:middle;width:4.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:12.27%;margin:0pt;padding:0pt;">1,075</td><td style="vertical-align:middle;width:12.27%;margin:0pt;padding:0pt;">(262)</td><td style="vertical-align:middle;width:12.29%;margin:0pt;padding:0pt;">24.4%</td></tr><tr style=""><td style="vertical-align:middle;width:21.84%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Adjusting items</td><td style="vertical-align:bottom;white-space:nowrap;width:12.27%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 189</td><td style="vertical-align:bottom;white-space:nowrap;width:12.27%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (36)</td><td style="vertical-align:middle;width:12.27%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:4.46%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.27%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 39</td><td style="vertical-align:bottom;white-space:nowrap;width:12.27%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (10)</td><td style="vertical-align:middle;width:12.29%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:middle;width:21.84%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">Adjusted</td><td style="vertical-align:middle;width:12.27%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> 1,245</td><td style="vertical-align:middle;width:12.27%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> (322)</td><td style="vertical-align:middle;width:12.27%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">25.9%</td><td style="vertical-align:middle;width:4.46%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:12.27%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> 1,114</td><td style="vertical-align:middle;width:12.27%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> (272)</td><td style="vertical-align:middle;width:12.29%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">24.4%</td></tr></table>

1056000000

286000000

0.271

1075000000

262000000

0.244

189000000 36000000 39000000 10000000 1245000000 322000000 0.259 1114000000 272000000 0.244

6 DIVIDENDS<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:middle;width:60.38%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:21.22%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:18.39%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:60.38%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:39.61%;margin:0pt;padding:0pt;">Six months ended 30 June</td></tr><tr style=""><td style="vertical-align:middle;width:60.38%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:21.22%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2026 £m</td><td style="vertical-align:middle;width:18.39%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025 £m</td></tr><tr style=""><td style="vertical-align:middle;width:60.38%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">Final dividend for the year ended 31 December of 4.9 pence per ordinary share (2025: 4.6 pence)</td><td style="vertical-align:top;white-space:nowrap;width:21.22%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">436</td><td style="vertical-align:top;white-space:nowrap;width:18.39%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">415</td></tr></table>An interim dividend of 2.4 pence per share has been declared by the Board and is expected to be paid on 17 September 2026 to the holders of ordinary shares and US American Depositary Shares (ADS).

0.049

0.046

436000000

415000000

0.024

7 EARNINGS PER SHARE <table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:70.08%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.95%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.95%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:70.08%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:29.91%;margin:0pt;padding:0pt;">Six months ended 30 June</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:70.08%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.95%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:14.95%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:70.08%;margin:0pt;padding:0pt;">Profit after tax attributable to equity shareholders (£m)</td><td style="vertical-align:bottom;white-space:nowrap;width:14.95%;margin:0pt;padding:0pt;"> 762</td><td style="vertical-align:bottom;white-space:nowrap;width:14.95%;margin:0pt;padding:0pt;"> 806</td></tr><tr style=""><td style="vertical-align:top;width:70.08%;margin:0pt;padding:0pt;">Weighted average number of shares (million)</td><td style="vertical-align:bottom;white-space:nowrap;width:14.95%;margin:0pt;padding:0pt;"> 8,915</td><td style="vertical-align:bottom;white-space:nowrap;width:14.95%;margin:0pt;padding:0pt;"> 9,046</td></tr><tr style=""><td style="vertical-align:top;width:70.08%;margin:0pt;padding:0pt;">Less: Weighted average number of treasury shares and shares held by EBTs (million)</td><td style="vertical-align:bottom;white-space:nowrap;width:14.95%;margin:0pt;padding:0pt;"> (30)</td><td style="vertical-align:bottom;white-space:nowrap;width:14.95%;margin:0pt;padding:0pt;"> (16)</td></tr><tr style=""><td style="vertical-align:top;width:70.08%;margin:0pt;padding:0pt;">Basic weighted average number of shares (million)</td><td style="vertical-align:bottom;white-space:nowrap;width:14.95%;margin:0pt;padding:0pt;"> 8,885</td><td style="vertical-align:bottom;white-space:nowrap;width:14.95%;margin:0pt;padding:0pt;"> 9,030</td></tr><tr style=""><td style="vertical-align:top;width:70.08%;margin:0pt;padding:0pt;">Effect of dilutive potential shares (million)</td><td style="vertical-align:bottom;white-space:nowrap;width:14.95%;margin:0pt;padding:0pt;"> 35</td><td style="vertical-align:bottom;white-space:nowrap;width:14.95%;margin:0pt;padding:0pt;"> 34</td></tr><tr style=""><td style="vertical-align:top;width:70.08%;margin:0pt;padding:0pt;">Dilutive weighted average number of shares (million)</td><td style="vertical-align:bottom;white-space:nowrap;width:14.95%;margin:0pt;padding:0pt;"> 8,920</td><td style="vertical-align:bottom;white-space:nowrap;width:14.95%;margin:0pt;padding:0pt;"> 9,064</td></tr><tr style=""><td style="vertical-align:top;width:70.08%;margin:0pt;padding:0pt;">Basic earnings per share (pence)</td><td style="vertical-align:bottom;white-space:nowrap;width:14.95%;margin:0pt;padding:0pt;"> 8.6</td><td style="vertical-align:bottom;white-space:nowrap;width:14.95%;margin:0pt;padding:0pt;"> 8.9</td></tr><tr style=""><td style="vertical-align:top;width:70.08%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">Diluted earnings per share (pence)</td><td style="vertical-align:bottom;white-space:nowrap;width:14.95%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> 8.5</td><td style="vertical-align:bottom;white-space:nowrap;width:14.95%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> 8.9</td></tr></table>Diluted earnings per share has been calculated after adjusting the weighted average number of shares used in the basic calculation to assume the conversion of all potentially dilutive shares.

762000000

806000000

8915000000 9046000000 30000000 16000000

8885000000

9030000000

35000000

34000000

8920000000

9064000000

0.086

0.089

0.085

0.089

8 FINANCIAL INSTRUMENTS AND RELATED DISCLOSURES Financial instruments held at fair value shown according to the fair value hierarchy is provided below. Financial assets and liabilities held at fair value are categorised by the valuation methodology applied in determining their fair value. Where possible, quoted prices in active markets are used (level 1). Where such prices are not available, the asset or liability is classified as level 2, provided all significant inputs to the valuation model used are based on observable market data. If one or more of the significant inputs to the valuation model is not based on observable market data, the instrument is classified as level 3.<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:39.52%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:39.52%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;">Level 1</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;">Level 2</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;">Level 3</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;">Total</td></tr><tr style=""><td style="vertical-align:bottom;width:39.52%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As at 30 June 2026</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">£m</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">£m</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">£m</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">£m</td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> </td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;">Financial assets at fair value through other comprehensive income:</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:39.52%;margin:0pt;padding:0pt;">Unlisted equity investments</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;">69</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;">69</td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;">Financial assets at fair value through profit or loss:</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;">Held for trading derivatives that are not in a designated and effective hedging relationship</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> 23</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> 23</td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;">Cash and cash equivalents (money market funds)</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> 173</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> 173</td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;">Derivatives designated and effective as hedging instruments:</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;"> - fair value hedge</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> 2</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> 2</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:39.52%;margin:0pt;padding:0pt;"> - cash flow hedge </td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> 13</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> 13</td></tr><tr style=""><td style="vertical-align:top;width:39.52%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> - net investment hedge</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 16</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 16</td></tr><tr style=""><td style="vertical-align:top;width:39.52%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">Total financial assets</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> 173</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> 54</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> 69</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> 296</td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:39.52%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;">Level 1</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;">Level 2</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;">Level 3</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;">Total</td></tr><tr style=""><td style="vertical-align:bottom;width:39.52%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As at 30 June 2026</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">£m</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">£m</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">£m</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">£m</td></tr><tr style=""><td style="vertical-align:bottom;width:39.52%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;">Financial liabilities at fair value through profit or loss:</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;">Held for trading derivatives that are not in a designated and effective hedging relationship</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> (5)</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> (5)</td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;">Derivatives designated and effective as hedging instruments:</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;"> - fair value hedge</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> (42)</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> (42)</td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;"> - cash flow hedge</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> (22)</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> (22)</td></tr><tr style=""><td style="vertical-align:top;width:39.52%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> - net investment hedge</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (72)</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (72)</td></tr><tr style=""><td style="vertical-align:top;width:39.52%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">Total financial liabilities</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> (141)</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> (141)</td></tr></table><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:39.52%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;width:39.52%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;">Level 1</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;">Level 2</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;">Level 3</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;">Total</td></tr><tr style=""><td style="vertical-align:bottom;width:39.52%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As at 31 December 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">£m</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">£m</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">£m</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">£m</td></tr><tr style=""><td style="vertical-align:bottom;width:39.52%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> </td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;">Financial assets at fair value through other comprehensive income:</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:39.52%;margin:0pt;padding:0pt;">Unlisted equity investments</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;">67</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;">67</td></tr><tr style=""><td style="vertical-align:bottom;width:39.52%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;">Financial assets at fair value through profit or loss:</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;">Held for trading derivatives that are not in a designated and effective hedging relationship</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> 26</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> 26</td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;">Cash and cash equivalents (money market funds)</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> 608</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> 608</td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;">Derivatives designated and effective as hedging instruments:</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;"> - fair value hedge</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> 3</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> 3</td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;"> - cash flow hedge </td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> 11</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> 11</td></tr><tr style=""><td style="vertical-align:top;width:39.52%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> - net investment hedge</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 47</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 47</td></tr><tr style=""><td style="vertical-align:top;width:39.52%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">Total financial assets</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> 608</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> 87</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> 67</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> 762</td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:39.52%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;">Level 1</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;">Level 2</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;">Level 3</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;">Total</td></tr><tr style=""><td style="vertical-align:bottom;width:39.52%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As at 31 December 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">£m</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">£m</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">£m</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">£m</td></tr><tr style=""><td style="vertical-align:bottom;width:39.52%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;">Financial liabilities at fair value through profit or loss:</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;">Held for trading derivatives that are not in a designated and effective hedging relationship</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> (3)</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> (3)</td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;">Derivatives designated and effective as hedging instruments:</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;"> - fair value hedge</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> (24)</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> (24)</td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;"> - cash flow hedge </td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> (10)</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> (10)</td></tr><tr style=""><td style="vertical-align:top;width:39.52%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> - net investment hedge</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (28)</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (28)</td></tr><tr style=""><td style="vertical-align:top;width:39.52%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">Total financial liabilities</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> (65)</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> (65)</td></tr></table>The methods and assumptions used to estimate the fair values of significant financial instruments on the balance sheet are consistent with those applied for the year ended 31 December 2025. The equity investment that is valued at level 3 is a passive investment in a private entity acquired as part of the consideration received for the divestment of ChapStick. In the absence of specific and active market data, the investment is held at fair value based on a multiple of the latest available rolling twelve month earnings before interest, depreciation and amortisation (EBITDA) and adjusted for net debt, which approximates to fair value.There are no material differences between the carrying value of the Group’s financial assets and liabilities and their estimated fair values, with the exceptions of bonds, for which the carrying values and fair values are set out in the table below: <table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:middle;white-space:nowrap;width:56.8%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.19%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.19%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.77%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.52%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.51%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:56.8%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:20.38%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As at 30 June 2026</td><td style="vertical-align:bottom;white-space:nowrap;width:1.77%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:21.03%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As at 31 December 2025</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:56.8%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.19%;margin:0pt;padding:0pt;">Carrying</td><td style="vertical-align:bottom;white-space:nowrap;width:10.19%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.77%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.52%;margin:0pt;padding:0pt;">Carrying</td><td style="vertical-align:bottom;white-space:nowrap;width:10.51%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:56.8%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.19%;margin:0pt;padding:0pt;">value</td><td style="vertical-align:bottom;white-space:nowrap;width:10.19%;margin:0pt;padding:0pt;">Fair value</td><td style="vertical-align:bottom;white-space:nowrap;width:1.77%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.52%;margin:0pt;padding:0pt;">value</td><td style="vertical-align:bottom;white-space:nowrap;width:10.51%;margin:0pt;padding:0pt;">Fair value</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:56.8%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.19%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">£m</td><td style="vertical-align:bottom;white-space:nowrap;width:10.19%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">£m</td><td style="vertical-align:bottom;white-space:nowrap;width:1.77%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.52%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">£m</td><td style="vertical-align:bottom;white-space:nowrap;width:10.51%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">£m</td></tr><tr style=""><td style="vertical-align:middle;width:56.8%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">Bonds</td><td style="vertical-align:bottom;white-space:nowrap;width:10.19%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> 7,380</td><td style="vertical-align:bottom;white-space:nowrap;width:10.19%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> 6,987</td><td style="vertical-align:bottom;white-space:nowrap;width:1.77%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.52%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> 8,102</td><td style="vertical-align:bottom;white-space:nowrap;width:10.51%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> 7,730</td></tr></table>

<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:39.52%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:39.52%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;">Level 1</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;">Level 2</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;">Level 3</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;">Total</td></tr><tr style=""><td style="vertical-align:bottom;width:39.52%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As at 30 June 2026</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">£m</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">£m</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">£m</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">£m</td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> </td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;">Financial assets at fair value through other comprehensive income:</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:39.52%;margin:0pt;padding:0pt;">Unlisted equity investments</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;">69</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;">69</td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;">Financial assets at fair value through profit or loss:</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;">Held for trading derivatives that are not in a designated and effective hedging relationship</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> 23</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> 23</td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;">Cash and cash equivalents (money market funds)</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> 173</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> 173</td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;">Derivatives designated and effective as hedging instruments:</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;"> - fair value hedge</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> 2</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> 2</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:39.52%;margin:0pt;padding:0pt;"> - cash flow hedge </td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> 13</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> 13</td></tr><tr style=""><td style="vertical-align:top;width:39.52%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> - net investment hedge</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 16</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 16</td></tr><tr style=""><td style="vertical-align:top;width:39.52%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">Total financial assets</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> 173</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> 54</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> 69</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> 296</td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:39.52%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;">Level 1</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;">Level 2</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;">Level 3</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;">Total</td></tr><tr style=""><td style="vertical-align:bottom;width:39.52%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As at 30 June 2026</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">£m</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">£m</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">£m</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">£m</td></tr><tr style=""><td style="vertical-align:bottom;width:39.52%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;">Financial liabilities at fair value through profit or loss:</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;">Held for trading derivatives that are not in a designated and effective hedging relationship</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> (5)</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> (5)</td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;">Derivatives designated and effective as hedging instruments:</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;"> - fair value hedge</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> (42)</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> (42)</td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;"> - cash flow hedge</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> (22)</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> (22)</td></tr><tr style=""><td style="vertical-align:top;width:39.52%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> - net investment hedge</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (72)</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (72)</td></tr><tr style=""><td style="vertical-align:top;width:39.52%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">Total financial liabilities</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> (141)</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> (141)</td></tr></table><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:39.52%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;width:39.52%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;">Level 1</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;">Level 2</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;">Level 3</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;">Total</td></tr><tr style=""><td style="vertical-align:bottom;width:39.52%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As at 31 December 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">£m</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">£m</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">£m</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">£m</td></tr><tr style=""><td style="vertical-align:bottom;width:39.52%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> </td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;">Financial assets at fair value through other comprehensive income:</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:39.52%;margin:0pt;padding:0pt;">Unlisted equity investments</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;">67</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;">67</td></tr><tr style=""><td style="vertical-align:bottom;width:39.52%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;">Financial assets at fair value through profit or loss:</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;">Held for trading derivatives that are not in a designated and effective hedging relationship</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> 26</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> 26</td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;">Cash and cash equivalents (money market funds)</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> 608</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> 608</td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;">Derivatives designated and effective as hedging instruments:</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;"> - fair value hedge</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> 3</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> 3</td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;"> - cash flow hedge </td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> 11</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> 11</td></tr><tr style=""><td style="vertical-align:top;width:39.52%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> - net investment hedge</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 47</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 47</td></tr><tr style=""><td style="vertical-align:top;width:39.52%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">Total financial assets</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> 608</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> 87</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> 67</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> 762</td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:39.52%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;">Level 1</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;">Level 2</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;">Level 3</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;">Total</td></tr><tr style=""><td style="vertical-align:bottom;width:39.52%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As at 31 December 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">£m</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">£m</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">£m</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">£m</td></tr><tr style=""><td style="vertical-align:bottom;width:39.52%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;">Financial liabilities at fair value through profit or loss:</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;">Held for trading derivatives that are not in a designated and effective hedging relationship</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> (3)</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> (3)</td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;">Derivatives designated and effective as hedging instruments:</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;"> - fair value hedge</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> (24)</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> (24)</td></tr><tr style=""><td style="vertical-align:top;width:39.52%;margin:0pt;padding:0pt;"> - cash flow hedge </td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> (10)</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> (10)</td></tr><tr style=""><td style="vertical-align:top;width:39.52%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> - net investment hedge</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (28)</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (28)</td></tr><tr style=""><td style="vertical-align:top;width:39.52%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">Total financial liabilities</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> (65)</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> (65)</td></tr></table>

69000000

23000000

173000000

2000000

13000000

16000000

173000000

54000000

69000000

296000000

5000000

42000000

22000000

72000000

141000000

67000000

26000000

608000000

3000000

11000000

47000000

608000000

87000000

67000000

762000000

3000000

24000000

10000000

28000000

65000000

7380000000

6987000000

8102000000

7730000000

9 BORROWINGSComposition of borrowings<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:middle;white-space:nowrap;width:35.54%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;white-space:nowrap;width:9.94%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:bottom;width:8.01%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:8.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:10.65%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:8.25%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.89%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:8.41%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:8.28%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:35.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:9.94%;margin:0pt;padding:0pt;"></td><td colspan="3" style="vertical-align:middle;width:27.65%;background:#ffffff;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">As at 30 June 2026</td><td colspan="4" style="vertical-align:middle;white-space:nowrap;width:26.85%;background:#ffffff;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">As at 31 December 2025</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:35.54%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:9.94%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:8.01%;background:#ffffff;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">Current £m</td><td style="vertical-align:bottom;width:8.97%;background:#ffffff;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">Non-current £m</td><td style="vertical-align:bottom;width:10.65%;background:#ffffff;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">Total £m</td><td style="vertical-align:bottom;width:8.25%;background:#ffffff;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">Current £m</td><td style="vertical-align:bottom;width:1.89%;background:#ffffff;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:8.41%;background:#ffffff;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">Non-current £m</td><td style="vertical-align:bottom;width:8.28%;background:#ffffff;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">Total £m</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:35.54%;margin:0pt;padding:0pt;">Commercial paper</td><td style="vertical-align:middle;white-space:nowrap;width:9.94%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:8.01%;margin:0pt;padding:0pt;"> (325)</td><td style="vertical-align:middle;white-space:nowrap;width:8.97%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:middle;white-space:nowrap;width:10.65%;margin:0pt;padding:0pt;"> (325)</td><td style="vertical-align:middle;white-space:nowrap;width:8.25%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:middle;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:8.41%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:middle;white-space:nowrap;width:8.28%;margin:0pt;padding:0pt;"> —</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:35.54%;margin:0pt;padding:0pt;">Loan and overdrafts </td><td style="vertical-align:middle;white-space:nowrap;width:9.94%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:8.01%;margin:0pt;padding:0pt;"> (76)</td><td style="vertical-align:middle;white-space:nowrap;width:8.97%;margin:0pt;padding:0pt;"> (283)</td><td style="vertical-align:middle;white-space:nowrap;width:10.65%;margin:0pt;padding:0pt;"> (359)</td><td style="vertical-align:middle;white-space:nowrap;width:8.25%;margin:0pt;padding:0pt;"> (43)</td><td style="vertical-align:middle;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:8.41%;margin:0pt;padding:0pt;"> (300)</td><td style="vertical-align:middle;white-space:nowrap;width:8.28%;margin:0pt;padding:0pt;"> (343)</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:35.54%;margin:0pt;padding:0pt;">Advances</td><td style="vertical-align:middle;white-space:nowrap;width:9.94%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:8.01%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:middle;white-space:nowrap;width:8.97%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:middle;white-space:nowrap;width:10.65%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:middle;white-space:nowrap;width:8.25%;margin:0pt;padding:0pt;"> (6)</td><td style="vertical-align:middle;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:8.41%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:middle;white-space:nowrap;width:8.28%;margin:0pt;padding:0pt;"> (6)</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:35.54%;margin:0pt;padding:0pt;">Lease liabilities </td><td style="vertical-align:middle;white-space:nowrap;width:9.94%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:8.01%;margin:0pt;padding:0pt;"> (52)</td><td style="vertical-align:middle;white-space:nowrap;width:8.97%;margin:0pt;padding:0pt;"> (111)</td><td style="vertical-align:middle;white-space:nowrap;width:10.65%;margin:0pt;padding:0pt;"> (163)</td><td style="vertical-align:middle;white-space:nowrap;width:8.25%;margin:0pt;padding:0pt;"> (48)</td><td style="vertical-align:middle;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:8.41%;margin:0pt;padding:0pt;"> (85)</td><td style="vertical-align:middle;white-space:nowrap;width:8.28%;margin:0pt;padding:0pt;"> (133)</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:35.54%;margin:0pt;padding:0pt;">Non-voting preference shares</td><td style="vertical-align:middle;white-space:nowrap;width:9.94%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:8.01%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:middle;white-space:nowrap;width:8.97%;margin:0pt;padding:0pt;"> (25)</td><td style="vertical-align:middle;white-space:nowrap;width:10.65%;margin:0pt;padding:0pt;"> (25)</td><td style="vertical-align:middle;white-space:nowrap;width:8.25%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:middle;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:8.41%;margin:0pt;padding:0pt;"> (25)</td><td style="vertical-align:middle;white-space:nowrap;width:8.28%;margin:0pt;padding:0pt;"> (25)</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:35.54%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">Bonds </td><td style="vertical-align:middle;white-space:nowrap;width:9.94%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:8.01%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> (1,509)</td><td style="vertical-align:middle;white-space:nowrap;width:8.97%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> (5,871)</td><td style="vertical-align:middle;white-space:nowrap;width:10.65%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> (7,380)</td><td style="vertical-align:middle;white-space:nowrap;width:8.25%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> (739)</td><td style="vertical-align:middle;white-space:nowrap;width:1.89%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:8.41%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> (7,363)</td><td style="vertical-align:middle;white-space:nowrap;width:8.28%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> (8,102)</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:35.54%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:middle;white-space:nowrap;width:9.94%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:8.01%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> (1,962)</td><td style="vertical-align:middle;white-space:nowrap;width:8.97%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> (6,290)</td><td style="vertical-align:middle;white-space:nowrap;width:10.65%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> (8,252)</td><td style="vertical-align:middle;white-space:nowrap;width:8.25%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> (836)</td><td style="vertical-align:middle;white-space:nowrap;width:1.89%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:8.41%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> (7,773)</td><td style="vertical-align:middle;white-space:nowrap;width:8.28%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> (8,609)</td></tr></table>Short-term borrowingsAs at 30 June 2026, the Group had within short-term borrowings, Pre-Separation USD Notes of $2000m (£1,509m) (31 December 2025: EUR Medium Term Note of €850m (£739m)). The average effective pre-swap and post-swap interest rate of all short-term notes in issue as at 30 June 2026 was 3.4% and 3.0% (31 December 2025: 1.3% and 3.6%). The Group repaid the €850m Fixed Rate Senior Note on its maturity on 29 March 2026.The Group has commercial paper programmes (with maximum aggregate amounts of €2bn and $10bn) pursuant to which members of the Group may issue commercial paper from time to time. As at 30 June 2026 the Group had in issue commercial papers of $430m (£325m) (31 December 2025: £nil) The average effective interest rate of these USD commercial papers in use as at 30 June 2026 was 4.5%. As at 30 June 2026 the Group has CNY 491m (£55m) short-term bank loans (31 December 2025 CNY 201m (£22m)). The weighted average interest rate on short-term bank loans as at 30 June 2026 was 2.9% (31 December 2025: 2.9%). Long-term borrowingsAs at 30 June 2026, the Group had within long-term borrowings, Notes of £5,871m (31 December 2025: £7,363m), of which £3,543m (31 December 2025: £3,538m) fell due in more than five years. The average effective pre-swap and post-swap interest rate of all long-term notes in issue as at 30 June 2026 was 3.2% and 3.1% (31 December 2025: 3.2% and 3.0%). As at 30 June 2026 the Group has CNY 2,541m (£283m) long-term bank loans (31 December 2025 CNY 2,824m (£300m)). The weighted average interest rate on long-term portion of these term loans as at 30 June 2026 was 2.9% (31 December 2025: 2.9%).On 17 July 2022, as part of the demerger activities, the Company issued 25,000,000 non-voting preference shares of £1.00 each to Pfizer Inc., with a coupon rate of 9.5% per annum. The non-voting preference shares (NVPS) command a mandatory quarterly coupon and will be redeemed in July 2027. The Group has, therefore, classified the non-voting preference shares as a financial liability. Pfizer Inc. has subsequently disposed of the NVPS to an external third party.Committed credit facilitiesThe Group has an undrawn credit facility of £1,750m with maturity date of August 2029. As at 30 June 2026, no amounts were drawn under this facility (31 December 2025: £nil).Movement in assets and liabilities arising from financing activities<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:43.5%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:12.04%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:9.7%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:10.88%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:top;width:13.83%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;width:10.01%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:43.5%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">£m</td><td style="vertical-align:bottom;width:12.04%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">At 1 January 2026</td><td style="vertical-align:bottom;width:9.7%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">Cash flows</td><td style="vertical-align:bottom;width:10.88%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">Foreign exchange</td><td style="vertical-align:top;width:13.83%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">Fair value adjustments, interest and reclassification</td><td style="vertical-align:bottom;width:10.01%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">At 30 June 2026</td></tr><tr style=""><td style="vertical-align:middle;width:43.5%;margin:0pt;padding:0pt;">Reconciliation of movement in liabilities to cash flow statement </td><td style="vertical-align:middle;width:12.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:9.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:10.88%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:13.83%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:10.01%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:43.5%;margin:0pt;padding:0pt;">Long-term borrowings</td><td style="vertical-align:middle;white-space:nowrap;width:12.04%;margin:0pt;padding:0pt;"> (7,688)</td><td style="vertical-align:middle;white-space:nowrap;width:9.7%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:middle;white-space:nowrap;width:10.88%;margin:0pt;padding:0pt;"> (41)</td><td style="vertical-align:middle;white-space:nowrap;width:13.83%;margin:0pt;padding:0pt;"> 1,550</td><td style="vertical-align:middle;white-space:nowrap;width:10.01%;margin:0pt;padding:0pt;"> (6,179)</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:43.5%;margin:0pt;padding:0pt;">Short-term borrowings</td><td style="vertical-align:middle;white-space:nowrap;width:12.04%;margin:0pt;padding:0pt;"> (767)</td><td style="vertical-align:middle;white-space:nowrap;width:9.7%;margin:0pt;padding:0pt;"> 412</td><td style="vertical-align:middle;white-space:nowrap;width:10.88%;margin:0pt;padding:0pt;"> (14)</td><td style="vertical-align:middle;white-space:nowrap;width:13.83%;margin:0pt;padding:0pt;"> (1,520)</td><td style="vertical-align:middle;white-space:nowrap;width:10.01%;margin:0pt;padding:0pt;"> (1,889)</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:43.5%;margin:0pt;padding:0pt;">Lease liabilities</td><td style="vertical-align:middle;white-space:nowrap;width:12.04%;margin:0pt;padding:0pt;"> (133)</td><td style="vertical-align:middle;white-space:nowrap;width:9.7%;margin:0pt;padding:0pt;"> 33</td><td style="vertical-align:middle;white-space:nowrap;width:10.88%;margin:0pt;padding:0pt;"> (1)</td><td style="vertical-align:middle;white-space:nowrap;width:13.83%;margin:0pt;padding:0pt;"> (62)</td><td style="vertical-align:middle;white-space:nowrap;width:10.01%;margin:0pt;padding:0pt;"> (163)</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:43.5%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Derivative financial instruments</td><td style="vertical-align:middle;white-space:nowrap;width:12.04%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 22</td><td style="vertical-align:middle;white-space:nowrap;width:9.7%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (11)</td><td style="vertical-align:middle;white-space:nowrap;width:10.88%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (1)</td><td style="vertical-align:middle;white-space:nowrap;width:13.83%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (97)</td><td style="vertical-align:middle;white-space:nowrap;width:10.01%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (87)</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:43.5%;margin:0pt;padding:0pt;">Total financial liabilities arising from financing activities</td><td style="vertical-align:middle;white-space:nowrap;width:12.04%;margin:0pt;padding:0pt;"> (8,566)</td><td style="vertical-align:middle;white-space:nowrap;width:9.7%;margin:0pt;padding:0pt;"> 434</td><td style="vertical-align:middle;white-space:nowrap;width:10.88%;margin:0pt;padding:0pt;"> (57)</td><td style="vertical-align:middle;white-space:nowrap;width:13.83%;margin:0pt;padding:0pt;"> (129)</td><td style="vertical-align:middle;white-space:nowrap;width:10.01%;margin:0pt;padding:0pt;"> (8,318)</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:43.5%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Cash and cash equivalents net of bank overdrafts</td><td style="vertical-align:middle;white-space:nowrap;width:12.04%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,303</td><td style="vertical-align:middle;white-space:nowrap;width:9.7%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (527)</td><td style="vertical-align:middle;white-space:nowrap;width:10.88%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 29</td><td style="vertical-align:middle;white-space:nowrap;width:13.83%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:middle;white-space:nowrap;width:10.01%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 805</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:43.5%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:middle;white-space:nowrap;width:12.04%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> (7,263)</td><td style="vertical-align:middle;width:9.7%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> (93)</td><td style="vertical-align:middle;width:10.88%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> (28)</td><td style="vertical-align:middle;width:13.83%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> (129)</td><td style="vertical-align:middle;width:10.01%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> (7,513)</td></tr></table><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:43.5%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:12.04%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:9.7%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:10.88%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:top;width:13.83%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;width:10.01%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:43.5%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">£m</td><td style="vertical-align:bottom;width:12.04%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">At 1 January 2025</td><td style="vertical-align:bottom;width:9.7%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">Cash flows</td><td style="vertical-align:bottom;width:10.88%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">Foreign exchange</td><td style="vertical-align:top;width:13.83%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">Fair value adjustments, interest and reclassification</td><td style="vertical-align:bottom;width:10.01%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">At 30 June 2025</td></tr><tr style=""><td style="vertical-align:middle;width:43.5%;margin:0pt;padding:0pt;">Reconciliation of movement in liabilities to cash flow statement </td><td style="vertical-align:middle;width:12.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:9.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:10.88%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:13.83%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:10.01%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:43.5%;margin:0pt;padding:0pt;">Long-term borrowings</td><td style="vertical-align:middle;white-space:nowrap;width:12.04%;margin:0pt;padding:0pt;"> (8,567)</td><td style="vertical-align:middle;white-space:nowrap;width:9.7%;margin:0pt;padding:0pt;"> (40)</td><td style="vertical-align:middle;white-space:nowrap;width:10.88%;margin:0pt;padding:0pt;"> 360</td><td style="vertical-align:middle;white-space:nowrap;width:13.83%;margin:0pt;padding:0pt;"> 668</td><td style="vertical-align:middle;white-space:nowrap;width:10.01%;margin:0pt;padding:0pt;"> (7,579)</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:43.5%;margin:0pt;padding:0pt;">Short-term borrowings</td><td style="vertical-align:middle;white-space:nowrap;width:12.04%;margin:0pt;padding:0pt;"> (1,394)</td><td style="vertical-align:middle;white-space:nowrap;width:9.7%;margin:0pt;padding:0pt;"> 1,352</td><td style="vertical-align:middle;white-space:nowrap;width:10.88%;margin:0pt;padding:0pt;"> 22</td><td style="vertical-align:middle;white-space:nowrap;width:13.83%;margin:0pt;padding:0pt;"> (698)</td><td style="vertical-align:middle;white-space:nowrap;width:10.01%;margin:0pt;padding:0pt;"> (718)</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:43.5%;margin:0pt;padding:0pt;">Lease liabilities</td><td style="vertical-align:middle;white-space:nowrap;width:12.04%;margin:0pt;padding:0pt;"> (123)</td><td style="vertical-align:middle;white-space:nowrap;width:9.7%;margin:0pt;padding:0pt;"> 29</td><td style="vertical-align:middle;white-space:nowrap;width:10.88%;margin:0pt;padding:0pt;"> 4</td><td style="vertical-align:middle;white-space:nowrap;width:13.83%;margin:0pt;padding:0pt;"> (42)</td><td style="vertical-align:middle;white-space:nowrap;width:10.01%;margin:0pt;padding:0pt;"> (132)</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:43.5%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Derivative financial instruments</td><td style="vertical-align:middle;white-space:nowrap;width:12.04%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (30)</td><td style="vertical-align:middle;white-space:nowrap;width:9.7%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 12</td><td style="vertical-align:middle;white-space:nowrap;width:10.88%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 2</td><td style="vertical-align:middle;white-space:nowrap;width:13.83%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 99</td><td style="vertical-align:middle;white-space:nowrap;width:10.01%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 83</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:43.5%;margin:0pt;padding:0pt;">Total financial liabilities arising from financing activities</td><td style="vertical-align:middle;white-space:nowrap;width:12.04%;margin:0pt;padding:0pt;"> (10,114)</td><td style="vertical-align:middle;white-space:nowrap;width:9.7%;margin:0pt;padding:0pt;"> 1,353</td><td style="vertical-align:middle;white-space:nowrap;width:10.88%;margin:0pt;padding:0pt;"> 388</td><td style="vertical-align:middle;white-space:nowrap;width:13.83%;margin:0pt;padding:0pt;"> 27</td><td style="vertical-align:middle;white-space:nowrap;width:10.01%;margin:0pt;padding:0pt;"> (8,346)</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:43.5%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Cash and cash equivalents net of bank overdrafts</td><td style="vertical-align:middle;white-space:nowrap;width:12.04%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 2,207</td><td style="vertical-align:middle;white-space:nowrap;width:9.7%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (1,566)</td><td style="vertical-align:middle;white-space:nowrap;width:10.88%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (15)</td><td style="vertical-align:middle;white-space:nowrap;width:13.83%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:middle;white-space:nowrap;width:10.01%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 626</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:43.5%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:middle;white-space:nowrap;width:12.04%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> (7,907)</td><td style="vertical-align:middle;white-space:nowrap;width:9.7%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> (213)</td><td style="vertical-align:middle;white-space:nowrap;width:10.88%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> 373</td><td style="vertical-align:middle;white-space:nowrap;width:13.83%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> 27</td><td style="vertical-align:middle;white-space:nowrap;width:10.01%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"> (7,720)</td></tr></table>

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10 SHARE CAPITALAs at 30 June 2026, the Group had share capital of £88m pertaining to 8,820,906,422 of ordinary shares at £0.01 each (31 December 2025: £90m pertaining to 8,952,353,648 of ordinary shares at £0.01 each and 30 June 2025: £90m pertaining to 8,988,533,553 of ordinary shares at £0.01 each). The decrease in the number of shares outstanding was due to a number of transactions during the year. On 25 February 2026, Haleon plc announced a capital allocation of £500 million for share buybacks during 2025. On 12 March 2026, the Group announced the commencement of an on-market share buyback programme for up to an aggregate of £500m; during this programme, the Company repurchased 131,447,226 ordinary shares.All ordinary shares are issued and fully paid. All ordinary shares rank equally with regard to the Company’s residual assets. Holders of these shares are entitled to dividends declared from time to time and are entitled to one vote per share at general meetings of the Company. All rights attached to the Company’s shares held by the Group are suspended until those shares are reissued.

88000000

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500000000 500000000 131447226 1

11 CONTINGENT LIABILITIESThe Group has been involved in legal proceedings and there have been no significant changes in respect of these legal proceedings for the period ended 30 June 2026. Further information on legal proceedings impacting the Group are detailed in the published consolidated financial statements for the year ended 31 December 2025.

12 RELATED PARTY TRANSACTIONSThere were no new related party transactions that have or could have materially affected the financial position or performance of the Group in the six months to 30 June 2026.

13 POST BALANCE SHEET EVENTSThere are no material events subsequent to the Balance sheet date, 30 June 2026, which require disclosure.