Forecast Net Profit After Tax $76m

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3 Forecast Net Profit After Tax $76m Increase of 40% over 1999/00 NPAT (A$m) / / /01

4 Successful integration and performance of ZLB Key Drivers Launch of ZLB products into US Favourable US IVIG prices Control of costs

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6 Consideration US$152m (A$292m) 47 Plasma collection centres in 22 US states 1.3ML of plasma collection in 2001 A quantity of normal plasma from 9 Nabi Supply Centres (0.1ML) Laboratory facilities in Florida Regulatory approval FDA approved British and German regulatory approval on some assets

7 Secure plasma supply Drives increased volumes and earnings from ZLB Ensures long-term, reliable supply of source plasma Consolidating source plasma market Opportunity to increase sales in US and selected key markets

8 2001E plasma collection of 1.3 ML Plasma Type Plasma Volume ( 000 litres) % Normal plasma 1,088 Tetanus plasma 101 Normal & Tetanus plasma 1,189 91% Specialty plasma 116 9% Total 1, % Source: Nabi estimates Nabi will retain 9 collection centres Additional normal production supplied to CSL (0.1ML) for 4 year term to satisfy assumed contractual obligations

9 Major customer contracts assumed Terms ranging from 2 to 4 years Contracted Volumes (Calendar Year) Year Contracted Volume ( 000 litres) 1,230 1,

10 Capacity progressively increased to 3.0ML of plasma equivalent per annum by 2005 Current output of 1.8ML per annum

11 Source Plasma (paid donors) Rapidly changing supply dynamics Perceived scarcity driving consolidation Recovered Plasma (voluntary donors) Strong relationships with leading not-for-profit blood collectors

12 Management Sales and marketing Continue to expand US sales Fractionation Expand ZLB capacity

13 Proposed equity placement of A$320m Merrill Lynch as Lead Manager and Bookrunner

14 Significant pre & post-goodwill EPS accretion in 2003/04 Broadly earnings neutral in first 2 years Accretion driven by increase in sales of high margin ZLB plasma products Further accretion 2004/05+ when additional available plasma is processed Creates goodwill of US$128m

15 Upgrade Earnings Forecast Acquisition of Leading US Plasma Collection Assets Secures plasma ZLB expansion Increase US sales

16 The forward looking statements included in this announcement involve a subjective judgement and analysis and are subject to significant uncertainties, risks, and contingencies, many of which are outside the control of, and are unknown to, CSL. In particular, they are subject to significant regulatory, business, competitive and economic uncertainties and risks. No representation, warranty or assurance (express or implied) is given or made in relation to any forward-looking statement by any person (including CSL). In particular, no representation, warranty or assurance (express or implied) is given in relation to any assumption above or that any forward looking statement will be achieved. Actual future events may vary materially from the forward-looking statements and the assumptions on which the forward-looking statements are based. Given these uncertainties, readers are cautioned to not place undue reliance on such forward-looking statements. Unless otherwise indicated, where references are made in this announcement to an Australian dollar equivalent of a US dollar amount, the Australian dollar amount has been calculated on the basis of the current exchange rate of US$1.00 = However, this exchange rate may vary, and so the applicable rate at the relevant time may be different. Historical information regarding the assets to be acquired from Nabi in this announcement has been sourced from Nabi, and has not been independently audited or verified by CSL. Accordingly, no representation, warranty or assurance (express or implied) is given by CSL in relation to the historical information. This announcement has been prepared for use in Australia and may not be released or distributed in the United States. This announcement does not constitute an offer of securities for sale in Australia, the United States or any other jurisdiction. Any securities described in this announcement may not be offered or sold in the United States absent registration under the U.S. Securities Act or an exemption from registration.

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