Document:

EX-4.8

 Exhibit 4.8 
  

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS EXHIBIT, MARKED BY [***], HAS BEEN OMITTED FROM THIS EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL AND
(II) WOULD LIKELY CAUSE COMPETITIVE HARM TO THE COMPANY IF PUBLICLY DISCLOSED. 
  DATED [●] 

GLAXOSMITHKLINE PLC 
 and

 PFIZER INC. 
 and 

HALEON PLC 
 and 

GLAXOSMITHKLINE CONSUMER HEALTHCARE HOLDINGS LIMITED 

and 
 GLAXOSMITHKLINE CONSUMER
HEALTHCARE HOLDINGS (NO.2) LIMITED 
  
  

DEED OF TAX COVENANT 
  

 
 Slaughter and
May 
 One Bunhill Row 
 London
EC1Y 8YY 
 (DER/SEZO) 

 CONTENTS 
  

							
	1.	  	Interpretation	  	 	3	
			
	2.	  	GSK Tax Covenant	  	 	18	
			
	3.	  	Pfizer Tax Covenant	  	 	19	
			
	4.	  	GSK and Pfizer Tax Covenants: Limitations	  	 	20	
			
	5.	  	Haleon Tax Covenant	  	 	24	
			
	6.	  	Haleon Tax Covenant: Limitations	  	 	25	
			
	7.	  	Costs and Expenses	  	 	28	
			
	8.	  	Mitigation	  	 	29	
			
	9.	  	Due Date of Payment	  	 	30	
			
	10.	  	Recovery	  	 	31	
			
	11.	  	Reliefs	  	 	33	
			
	12.	  	Conduct of Tax Authority Claims	  	 	34	
			
	13.	  	Tax Returns	  	 	39	
			
	14.	  	Transfer Pricing	  	 	45	
			
	15.	  	Tax Consolidations	  	 	46	
			
	16.	  	Post-Demerger Completion Conduct	  	 	49	
			
	17.	  	Project Cosmos	  	 	50	
			
	18.	  	Anti-hybrid rules and interest restriction rules	  	 	55	 
			
	19.	  	Miscellaneous	  	 	56	
	
	SCHEDULES	 
		
	Schedule 1 - Post-Demerger Completion Conduct	  	 	58	 

			
	THIS DEED is made on                    2022	  	

 BETWEEN: 
  

	(1)	 GLAXOSMITHKLINE PLC, a public limited company incorporated in England with number 03888792, having its
registered office at 980 Great West Road, Brentford, Middlesex, TW8 9GS (“GSK”); 

  

	(2)	 PFIZER INC., a corporation incorporated under the laws of Delaware whose registered office is at 235
East 42nd Street, New York, New York 10017 (“Pfizer”);  

  

	(3)	 HALEON PLC, a public limited company incorporated in England with number 13691224, having its registered
office at [●] (“Haleon”); 

  

	(4)	 GLAXOSMITHKLINE CONSUMER HEALTHCARE HOLDINGS LIMITED, a private limited company incorporated under the
laws of England under registered number 08998608 whose registered office is at 980 Great West Road, Brentford, Middlesex TW8 9GS (“GSKCHHL”); and 

 

	(5)	 GLAXOSMITHKLINE CONSUMER HEALTHCARE HOLDINGS (NO.2) LIMITED, a private limited company incorporated
under the laws of England under registered number 11961650 whose registered office is at 980 Great West Road, Brentford, Middlesex TW8 9GS (“JVCo”), 

(each a “Party” and, together, the “Parties”); 

NOW THIS DEED WITNESSES as follows: 
  

	1.	 Interpretation 

 

	1.1	 In this Deed the following expressions shall have the following meanings: 

 

			
	“Accounts”	 	 means:
  

(a)   in relation to any company, its most recently finalised audited accounts as at the date of the
Demerger Agreement; and
  

(b)   the most recently finalised audited consolidated accounts of JVCo and its subsidiary
undertakings as at the date of the Demerger Agreement;

		
	“Affiliate”	 	has the meaning given to it in the SCIA;
		
	“Argentina Manufacturing Business”	 	has the meaning given to it in the Argentina NEBA;

  
 3 

			
		
	“Argentina NEBA”	 	has the meaning given to it in the SCIA;
		
	“ATB Companies”	 	 means:
  

(a)   GlaxoSmithKline Consumer Healthcare (UK) IP Limited;

 
 (b)   GlaxoSmithKline Consumer
Healthcare (UK) Trading Limited;
  

(c)   GSK Consumer Trading Services Limited;

 
 (d)   Stiefel Consumer
Healthcare (UK) Limited;
  

(e)   GlaxoSmithKline Panama S.A.;

 
 (f)   GSK CH Caricam Sociedad
de Responsabilidad Limitada;
  

(g)   GSK Consumer Healthcare Trinidad and Tobago Limited; and

 
 (h)   GlaxoSmithKline Consumer
Healthcare Vietnam Company Limited,
  
 and “ATB Company” shall mean
any one of them;

		
	“ATFA”	 	has the meaning given to it in the SCIA;
		
	“B Shares”	 	has the meaning given to it in the SCIA;
		
	“Balancing Payment”	 	means a payment made by a person to whom a Compensating Adjustment is available to a person who has suffered the Transfer Pricing Adjustment to which the Compensating Adjustment relates;
		
	“Business Day”	 	has the meaning given to it in the SCIA;
		
	“C Shares”	 	has the meaning given to it in the SCIA;
		
	“Chargeable Payment”	 	has the meaning given to it in s.1088 CTA 2010;
		
	“Compensating Adjustment”	 	means any Relief available to a person as a consequence of a Transfer Pricing Adjustment made in respect of another person;
		
	“Completion”	 	has the meaning given to it in the SCIA;

  
 4 

			
		
	“Constellation Tax Covenant”	 	means the Deed of Tax Covenant entered into between GSK, GSKCHHL and Novartis A.G. dated 2 March 2015;
		
	“Consumer Healthcare Business”	 	has the meaning given to it in the SCIA;
		
	“Conveyed Subsidiary”	 	has the meaning given to it in the ATFA;
		
	“Cosmos SAPA”	 	has the meaning given to it in the SCIA;
		
	“Cosmos SAPA Amendment Agreement”	 	has the meaning given to it in the SCIA;
		
	“Cosmos SCA”	 	has the meaning given to it in the SCIA;
		
	“Cosmos Seller Disclosure Letter”	 	has the meaning given to the term “Seller Disclosure Letter” in the Cosmos SAPA;
		
	“Costs”	 	has the meaning given to it in the SCIA;
		
	“CTA 2009”	 	means the Corporation Tax Act 2009;
		
	“CTA 2010”	 	means the Corporation Tax Act 2010;
		
	“Deferred Closing”	 	 means:
  

(a)   with respect to any GSK Delayed Company, completion of the transfer of such GSK Delayed
Company by the GSK Group to the Haleon Group; and
  

(b)   with respect to any Pfizer Delayed Company, completion of the transfer of such Pfizer Delayed
Company by the Pfizer Group to the Haleon Group;

		
	“Deferred GSK Conveyed Subsidiary”	 	has the meaning given to it in the GSK NEB Agreement;
		
	“Demerger”	 	has the meaning given to it in the SCIA;
		
	“Demerger Agreement”	 	means the Demerger Agreement entered into between GSK and Haleon on or around this date of this Deed;
		
	“Demerger Completion”	 	has the meaning given to it in the SCIA;

  
 5 

			
		
	“Directing Party”	 	 means:
  

(a)   where GSK shall bear the greater liability under this Deed in respect of the matter in
question, GSK; or

		
		 	 (b)   where Pfizer shall bear the greater liability under this Deed in respect
of the matter in question, Pfizer;

		
	“Event”	 	means any transaction, event, action or omission including, without limitation, Demerger Completion, Completion and any change in the residence of any person for the purposes of any Tax;
		
	“Exchange Agreements”	 	means the GSK Exchange Agreement, the Pfizer Exchange Agreement and the SLP Exchange Agreement;
		
	“Filing Date”	 	means, in relation to any Tax Return, the last date on which that Tax Return may be filed with the applicable Tax Authority either without incurring interest or penalties, or in order to ensure that such Tax Return is
effective;
		
	“Governmental Entity”	 	has the meaning given to it in the SCIA;
		
	“Group”	 	means the Haleon Group, the GSK Group and/or the Pfizer Group as the context demands;
		
	“GSK Argentina S.A.”	 	means GlaxoSmithKline Argentina S.A., a company incorporated under the laws of Argentina with registered address at Carlos Casares 3690, Victoria, San Fernando, B1644BCD, Province of Buenos Aires, Argentina;
		
	“GSK Business”	 	has the meaning given to it in the SCIA;
		
	“GSKCHH 3”	 	means GSK Consumer Healthcare Holdings (No.3) Limited, a private limited company incorporated in England with number 13401293, having its registered office at 980 Great West Road, Brentford, Middlesex, TW8 9GS;
		
	“GSKCHH 5”	 	means GSK Consumer Healthcare Holdings (No.5) Limited, a private limited company incorporated in England with number 13401372, having its registered office at 980 Great West Road, Brentford, Middlesex, TW8 9GS;
		
	“GSKCHH 6”	 	means GSK Consumer Healthcare Holdings (No.6) Limited, a private limited company incorporated in England with number 13401308, having its registered office at 980 Great West Road, Brentford, Middlesex, TW8
9GS;

  
 6 

  
			
		
	“GSK Delayed Companies”	 	means GSK Argentina S.A., the Conveyed Subsidiary and each Deferred GSK Conveyed Subsidiary;
		
	“GSK Exchange Agreement”	 	has the meaning given to it in the SCIA;
		
	“GSK Group”	 	 means GSK and its subsidiaries and subsidiary undertakings from time to time, excluding:

 
 (a)   Haleon and the Haleon
Group Companies; and
  

(b)   the GSK Delayed Companies,

 
 and the expressions “member of the GSK Group” and “GSK Group
Company” shall be construed accordingly;

		
	“GSK NEB Agreement”	 	has the meaning given to it in the SCIA;
		
	“GSK Relief”	 	 means:
  

(a)   any Relief of a GSK Group Company except for any Relief of a GSK Group Company which is a
Haleon Relief;

  
 7 

			
		
		 	 (b)   any Relief to which a GSK Group Company is entitled (or entitled to the
benefit of) under the Constellation Tax Covenant; and
  

(c)   any Relief to which a GSK Group Company is entitled (or entitled to the benefit of) under the
Cosmos SAPA;

		
	“GSK Share Exchange”	 	has the meaning given to it in the SCIA;
		
	“GSK Share Exchange Completion”	 	means completion of the GSK Share Exchange pursuant to and in accordance with the executed GSK Exchange Agreement;
		
	“GSK Tax Consolidation”	 	means any group, consolidation, fiscal unity or other arrangement for the purposes of any Tax which comprises both one or more GSK Group Companies and one of more Haleon Group Companies (whether in place by Law, agreement or
otherwise and including any group for the purposes of VAT) under which a member of the GSK Group is primarily responsible for paying or discharging Tax liabilities on behalf of, or Tax liabilities attributable to the Income, Profits or Gains of, or
Events affecting, that group, consolidation, fiscal unity or other arrangement (or the constituent members thereof), and/or for filing Tax Returns or claiming any Relief from Tax on behalf of or attributable to the same (but in all cases excluding
arrangements concerning US State Joint Tax Returns);
		
	“GSK Tax Liability”	 	 means:
  

(a)   a liability of any GSK Group Company to make or suffer an actual payment of Tax; and

 
 (b)   the use or set-off of any GSK Relief in circumstances where, but for the use or set-off, any GSK Group Company would have had an actual liability to Tax in respect of which GSK would
have been able to make a claim under clause 5.1 of this Deed (the amount of the GSK Tax Liability for these purposes being deemed to be equal to the amount of the actual liability to Tax that is saved by the use or set-off of the GSK Relief);

		
	“Haleon Group”	 	 means JVCo, Haleon, their respective subsidiaries and subsidiary undertakings from time to time and:

 
 (a)   the GSK Delayed
Companies; and

  
 8 

			
		
		 	 (b)   the Pfizer Delayed Companies,

 
 and the expressions “member of the Haleon Group” and “Haleon
Group Company” shall be construed accordingly;

		
	“Haleon Relief”	 	 means:
  

(a)   any Relief of a Haleon Group Company which arises as a consequence of or by reference to an
Event occurring (or deemed to occur) after Demerger Completion or in respect of a period or part period falling after Demerger Completion; or
  

(b)   any Relief of a Haleon Group Company which is shown as an asset of a Haleon Group Company in
the applicable Accounts,
  
 except any Relief of a Haleon Group Company which is a GSK
Relief by virtue of paragraph (b) or (c) of that defined term, or which is a Pfizer Relief by virtue of paragraph (b) of that defined term;

		
	“Haleon Tax Consolidation”	 	means any group, consolidation, fiscal unity or other arrangement for the purposes of any Tax which comprises both one or more GSK Group Companies and one of more Haleon Group Companies (whether in place by Law, agreement or
otherwise and including any group for the purposes of VAT) under which a member of the Haleon Group is primarily responsible for paying or discharging Tax liabilities on behalf of, or Tax liabilities attributable to the Income, Profits or Gains of,
or Events affecting, that group, consolidation, fiscal unity or other arrangement (or the constituent members thereof), and/or for filing Tax Returns or claiming any Relief from Tax on behalf of or attributable to the same (but in all cases
excluding arrangements concerning US State Joint Tax Returns);
		
	“Haleon Tax Liability”	 	 means:
  

(a)   a liability of any Haleon Group Company to make or suffer an actual payment of Tax; and

 
 (b)   the use or set-off of any Haleon Relief in circumstances where, but for the use or set-off, any

  
 9 

			
		 	Haleon Group Company would have had an actual liability to Tax in respect of which Haleon would have been able to make a claim under clause 2.1 and/or clause 3.1 of this Deed, as applicable (the amount of the Haleon
Tax Liability for these purposes being deemed to be equal to the amount of the actual liability to Tax that is saved by the use or set-off of the Haleon Relief);
		
	“HMRC”	 	means Her Majesty’s Revenue and Customs;
		
	“Income, Profits or Gains”	 	has the meaning given in clause 1.2(A);
		
	“Income Tax”	 	means any national, federal, state or local Tax imposed on or calculated by reference to net income or profits (however denominated), franchise Tax and other similar Tax;
		
	“Income Tax Return”	 	means any Tax Return in respect of Income Tax;
		
	“Indemnified Company”	 	has the meaning given in clause 9.1(A)(i);
		
	“Indirect CGT”	 	means any charge to Tax on a deemed disposal of an asset (including shares) imposed in the event of any indirect transfer or change of control of that asset (rather than a direct sale or other disposal of that asset by its immediate
owner). For the avoidance of doubt, this includes circumstances in which there is a direct or indirect transfer of, or change of control in, the immediate owner of the asset in question;
		
	“Law”	 	means any statute, law, rule, regulation, ordinance, code or rule of common law issued, administered or enforced by any Governmental Entity, or any judicial or administrative interpretation thereof, including the rules of any stock
exchange or listing authority;
		
	“Non-Directing Party”	 	means whichever of GSK and Pfizer is not the Directing Party in relation to the matter in question;
		
	“PFCHHL”	 	means PF Consumer Healthcare Holdings LLC, a limited liability company incorporated under the laws of Delaware whose registered office is at 235 East 42nd Street, New York, New York 10017;
		
	“Pfizer Business”	 	has the meaning given to it in the SCIA;

  
 10 

  
			
		
	“Pfizer Delayed Companies”	 	means each of the “Deferred Conveyed Subsidiaries” as defined in the Pfizer NEB Agreement;
		
	“Pfizer Exchange Agreement”	 	has the meaning given in the SCIA;
		
	“Pfizer Group”	 	 means Pfizer and its subsidiaries and subsidiary undertakings from time to time, excluding:

 
 (a)   Haleon and the Haleon
Group Companies; and
  

(b)   the Pfizer Delayed Companies,

 
 and the expressions “member of the Pfizer Group” and “Pfizer
Group Company” shall be construed accordingly;

		
	“Pfizer NEB Agreement”	 	has the meaning given to it in the SCIA;
		
	“Pfizer Relief”	 	 means:
  

(a)   any Relief of a Pfizer Group Company except for any Relief of a Pfizer Group Company which is
a Haleon Relief; and
  

(b)   any Relief to which a Pfizer Group Company is entitled (or is entitled to the benefit of)
under the Cosmos SAPA;

		
	“Pfizer Share Exchange”	 	has the meaning given in the SCIA;

  
 11 

  
			
		
	“Pfizer Share Exchange Completion”	 	means completion of the Pfizer Share Exchange pursuant to and in accordance with the executed Pfizer Exchange Agreement;
		
	“Pfizer Tax Liability”	 	 means:
  

(a)   a liability of any Pfizer Group Company to make or suffer an actual payment of Tax; and

 
 (b)   the use or set-off of any Pfizer Relief in circumstances where, but for the use of set-off, any Pfizer Group Company would have had an actual liability to Tax in respect of which Pfizer
would have been able to make a claim under clause 5.3 of this Deed (the amount of the Pfizer Tax Liability for these purposes being deemed to be equal to the amount of the actual liability to Tax that is saved by the use of set-off of the Pfizer Relief);

		
	“Proceedings”	 	has the meaning given to it in the SCIA;
		
	“Relevant Percentage”	 	 means:
  

(a)   in respect of GSK, 68%; and

 
 (b)   in respect of Pfizer,
32%,
  
 and “Relevant Percentages” shall be construed
accordingly;

		
	“Relevant Time”	 	 means:
  

(a)   Demerger Completion;
  

(b)   in the case of a voluntary transaction, action or omission carried out, effected or made by
PFCHHL, Pfizer Share Exchange Completion; or
  

(c)   in the case of a voluntary transaction, action or omission carried out, effected or made by
any GSK Delayed Company or any Pfizer Delayed Company, Deferred Closing;

  
 12 

			
		
	“Relevant Time Limit”	 	means a time limit under applicable Law for a Tax Authority to open an enquiry or audit in respect of Tax, issue an assessment or impose any liability in respect of Tax, collect or enforce the collection of Tax, or take any similar
action;
		
	“Relief”	 	means any loss, allowance, credit, relief, deduction or set-off in respect of, or taken into account (or capable of being taken into account) in the calculation of a liability to, Tax, or any
right to a repayment of Tax;
		
	“Relief Surrender”	 	 means:
  

(a)   a surrender of any loss, allowance or other amount eligible for surrender by way of group
relief in accordance with the provisions of Part 5 or Part 5A of CTA 2010;
  

(b)   a reallocation of a gain or loss in accordance with section 171A TCGA; or

 
 (c)   a reallocation of a
chargeable realisation gain in accordance with section 792 CTA 2009,
  
 or, outside the
United Kingdom, any surrenders or reallocations corresponding to, or substantially similar to, any of the aforementioned surrenders or reallocations;

		
	“Reorganisation”	 	means all steps set out in the Steps Plan, except for those set out in modules D, E, G, R and S;
		
	“SCIA”	 	means the Separation Co-operation and Implementation Agreement between GSK, Pfizer, Haleon, JVCo, GSKCHHL and PFCHHL and entered into on or around the date of this Deed;
		
	“Separation Transaction”	 	has the meaning given to it in the SCIA;
		
	“SLPs” or “SLP”	 	has the meaning given to it in the SLP Exchange Agreement;
		
	“SLP Contribution”	 	means the steps set out in module S of the Steps Plan;
		
	“SLP Exchange Agreement”	 	has the meaning given in the SCIA;
		
	“SLP Share Exchange”	 	has the meaning given in the SCIA;

  
 13 

			
		
	“Steps Plan”	 	means the steps plan titled “Project Gold” prepared by KPMG and dated [●] (with such amendments as have been agreed in writing between GSK, Pfizer and Haleon);
		
	“Sterling”	 	has the meaning given to it in the SCIA;
		
	“Straddle Period”	 	means any Tax Period beginning on or before, but ending after, Demerger Completion (or, in the case of PFCHHL only, any Tax Period beginning on or before, but ending after, Pfizer Share Exchange Completion);
		
	“Tax”	 	means all taxes, and all levies, duties, imposts, charges and withholdings in the nature of tax, including taxes on gross or net income, profits or gains and taxes on receipts, sales, use, employment, payroll, land, stamp, transfer,
occupation, franchise, value added, wealth and personal property, together with all penalties, charges, additions to tax, and interest relating to any of them, or to any late or incorrect return in respect of them, and regardless of whether any such
amounts are chargeable or attributable directly or primarily to any other person or are recoverable from any other person;
		
	“Tax Authority”	 	means any taxing, revenue or other authority competent to impose any liability to, or to assess or collect, any Tax, including, without limitation, HMRC and the Internal Revenue Service;
		
	“Tax Authority Claim”	 	means the issue of any notice, letter or other document by or on behalf of any Tax Authority or the taking of any other action by or on behalf of any Tax Authority (including any enquiry, claim, dispute, proceeding or other
engagement with a Tax Authority following therefrom) from which (in each case) it appears that a Haleon Tax Liability, GSK Tax Liability or Pfizer Tax Liability has arisen or may arise to (or is to be, or will be, imposed on) a member of the Haleon
Group, the GSK Group or the Pfizer Group (as the case may be);
		
	“Tax Consolidation”	 	means a GSK Tax Consolidation or a Haleon Tax Consolidation, as the case may be;
		
	“Tax Period”	 	means an accounting period or any other period in respect of which a Tax Return is required to be submitted to any Tax Authority;
		
	“Tax Return”	 	means any return, report, declaration, information return, statement or other document filed or required to be filed

  
 14 

			
		 	with any Tax Authority (including any schedule or attachment thereto and any amendment thereof), in connection with the determination, assessment or collection of any Tax or the administration of any Laws relating to any
Tax;
		
	“TCGA”	 	means the Taxation of Chargeable Gains Act 1992;
		
	“Transaction Document”	 	has the meaning given to it in the SCIA;
		
	“Transfer Pricing Adjustment”	 	means the computation of profits or losses for Tax purposes in relation to any transaction or series of transactions on a basis which substitutes arm’s length terms for the actual terms agreed, as finally determined by a Tax
Authority;
		
	“US State Joint Tax Returns”	 	means any super unitary state Tax Return filed or required to be filed with any Tax Authority of any state in the United States of America where such Tax Return includes both a member of the GSK Group and a member of the Haleon
Group (and, for the avoidance of doubt, this shall not include any combined federal Tax Returns in the United States of America);
		
	“VAT”	 	 means:
  

(a)   any value added tax imposed by the Value Added Tax Act 1994 and legislation and regulations
supplemental thereto;
  

(b)   to the extent not included in paragraph (a) above, any Tax imposed in compliance with the
council directive of 28 November 2006 on the common system of value added tax (EC Directive 2006/112); and
  

(c)   any other Tax of a similar nature to the Taxes referred to in paragraph (a) or paragraph
(b) above, whether imposed in the UK or a member state of the EU in substitution for, or levied in addition to, the Taxes referred to in paragraph (a) or paragraph (b) above or imposed elsewhere.

  

	1.2	 In this Deed, unless otherwise specified: 

 

	 	(A)	 references to: 

  

	 	(i)	 “Income, Profits or Gains” shall include any income, profits or gains which are deemed to be
earned, accrued or received for the purposes of any Tax; and 

  
 15 

	 	(ii)	 Income, Profits or Gains being earned, accrued or received on or before a particular date or in respect of a
particular period shall mean Income, Profits or Gains which are regarded as having been or are deemed to have been, earned, accrued or received on or before that date or in respect of that period; 

 

	 	(B)	 references to “period” are to a period of time and not to an accounting period unless the
phrase “accounting period” is used; 

  

	 	(C)	 references to “repayment of Tax” mean a repayment or refund of Tax paid or amounts paid for,
or on account of, Tax and shall be deemed to include any interest or repayment supplement on or in respect thereof; 

  

	 	(D)	 references to clauses, sub clauses, paragraphs, sub paragraphs, Schedules and Appendices are to clauses, sub
clauses, paragraphs, sub paragraphs of, and Schedules and Appendices to, this Deed; 

  

	 	(E)	 use of any gender includes other genders; 

 

	 	(F)	 references to a “company” shall be construed so as to include any corporation or other body
corporate, wherever and however incorporated or established; 

  

	 	(G)	 references to a “person” shall be construed so as to include any individual, firm, company,
corporation, body corporate, government, state or agency of a state, local or municipal authority or government body or any joint venture, association or partnership (whether or not having separate legal personality); 

 

	 	(H)	 references to a “holding company” or a “subsidiary” shall be construed as a
holding company or subsidiary (as the case may be) as defined in section 1159 of the Companies Act 2006; 

  

	 	(I)	 references to a “parent undertaking” shall be construed as a parent undertaking as defined in
section 1162 of the Companies Act 2006; 

  

	 	(J)	 a reference to any statute or statutory provision shall be construed as a reference to the same as it may have
been, or may from time to time be, amended, modified or re-enacted and shall include any subordinate legislation made from time to time under that statute or statutory provision, except to the extent that any
amendment or modification made after the date of this Deed would increase or alter the liability of any Party under this Deed; 

  

	 	(K)	 any reference to a “day” (including within the phrase “Business Day”) shall
mean a period of 24 hours running from midnight to midnight; 

  
 16 

	 	(L)	 references to times are to London time (unless otherwise stated); 

 

	 	(M)	 reference to “liabilities”, “costs” and/or “expenses ”
incurred by a person shall not include any amount in respect of VAT or any Tax of a similar nature included in such liabilities, costs and/or expenses for which that person or any other member of its Group is entitled to credit or repayment from any
Tax Authority; 

  

	 	(N)	 references to “indemnify” any person against any circumstance shall include indemnifying and
keeping such person harmless in respect of the matter in question and, unless otherwise specified, any indemnity given in this Deed shall be deemed to have been given on an after-Tax basis;

  

	 	(O)	 any indemnity or obligation to pay (the “Payment Obligation”) being given or assumed on an
“after-Tax basis” or expressed to be “calculated on an after-Tax basis” means that the amount payable pursuant to such Payment
Obligation (the “Payment”) shall be calculated in such a manner as will ensure that, after taking into account: 

  

	 	(i)	 any Tax required to be deducted or withheld from the Payment; 

 

	 	(ii)	 the amount and timing of any additional Tax which becomes payable (or would be payable but for the use of a
Relief) as a result of the Payment’s being subject to Tax; and 

  

	 	(iii)	 the amount and timing of any Tax benefit which is obtained, to the extent that such Tax benefit is attributable
to the matter giving rise to the Payment Obligation, 

  

	 	    	 the recipient of the Payment is in the same position as that in which it would have been if the matter giving
rise to the Payment Obligation had not occurred (or, in the case of a Payment Obligation arising by reference to a matter affecting a person other than the recipient of the Payment, the recipient of the Payment and that other person are, taken
together, in the same position as that in which they would have been had the matter giving rise to the Payment Obligation not occurred), provided that the amount of the Payment shall not exceed that which it would have been if it had been regarded
for all Tax purposes as received solely by the recipient and not any other person; and 

  

	 	(P)	 the rule known as the ejusdem generis rule shall not apply and accordingly: 

 

	 	(i)	 general words introduced by the word “other” shall not be given a restrictive meaning by reason of
the fact that they are preceded by words indicating a particular class of acts, matters or things; 

  

	 	(ii)	 general words shall not be given a restrictive meaning by reason of the fact that they are followed by
particular examples intended to be embraced by the general words; and 

  
 17 

	 	(Q)	 references to “writing” shall include any modes of reproducing words in a legible and non-transitory form, including email. 

  

	1.3	 In this Deed, unless otherwise specified: 

 

	 	(A)	 all headings and titles are inserted for convenience only and are to be ignored in the interpretation of this
Deed; and 

  

	 	(B)	 any schedules and appendices form part of this Deed and shall have the same force and effect as if expressly
set out in the body of this Deed, and any reference to this Deed shall include the schedules and appendices. 

  

	2.	 GSK Tax Covenant 

 

	2.1	 Subject to the other provisions of this Deed, GSK covenants with Haleon to pay to Haleon an amount equal, on an
after-Tax basis, to: 

  

	 	(A)	 any Haleon Tax Liability: 

 

	 	(i)	 arising directly as a consequence of: 

 

	 	(a)	 the GSK Share Exchange; 

 

	 	(b)	 the SLP Share Exchange; 

 

	 	(c)	 the SLP Contribution; 

 

	 	(d)	 the making of a Chargeable Payment by a GSK Group Company; 

 

	 	(e)	 any Haleon Group Company carrying on, at any time before Demerger Completion, any GSK Business (including any
Haleon Tax Liability arising directly as a consequence of any Income, Profits or Gains being earned, accrued or received as a result thereof); 

  

	 	(f)	 GSK Argentina S.A. carrying on: 

 

	 	(1)	 at any time before the “Commencement Date” (as defined in the Argentina NEBA), any Argentina
Manufacturing Business; or 

  

	 	(2)	 at any time before Deferred Closing, any GSK Business, 

 

	 	    	 including, in each case, any Haleon Tax Liability arising directly as a consequence of any Income, Profits or
Gains being earned, accrued or received as a result thereof; or 

  
 18 

	 	(g)	 the failure by a GSK Group Company at any time to comply with any of its obligations under this Deed or any
Transaction Document; 

  

	 	(ii)	 for which GSK would have been liable under clause 8 (Secondary Tax Liabilities) of the Cosmos SCA (had it
remained in effect, and had references to “Company” and “Company’s Group” therein been references to “Haleon” and “Haleon Group” as defined in this Deed as the context demands); 

 

	 	(iii)	 which comprises UK stamp duty or UK stamp duty reserve tax on the Demerger; or 

 

	 	(iv)	 in respect of a Haleon Tax Liability of GSKCHHL only, which arises directly as a consequence of:

  

	 	(a)	 any Event occurring on or before GSK Share Exchange Completion (or being deemed to occur on or before GSK Share
Exchange Completion for the purposes of any Tax); or 

  

	 	(b)	 any Income, Profits or Gains to the extent that such Income, Profits or Gains were earned, accrued or received
(A) on or before GSK Share Exchange Completion, or (B) in respect of a period ending on or before GSK Share Exchange Completion, and 

  

	 	(B)	 GSK’s Relevant Percentage of any Haleon Tax Liability arising directly as a consequence of:

  

	 	(i)	 the Reorganisation (or any part thereof); or 

 

	 	(ii)	 the Demerger, save for any Haleon Tax Liability which falls within clause 2.1(A)(iii).

  

	2.2	 Clause 2.1 shall be effective from (and including) Demerger Completion. 

 

	3.	 Pfizer Tax Covenant 

 

	3.1	 Subject to the other provisions of this Deed, Pfizer covenants with Haleon to pay to Haleon an amount equal, on
an after-Tax basis, to: 

  

	 	(A)	 any Haleon Tax Liability: 

 

	 	(i)	 arising directly as a consequence of: 

 

	 	(a)	 the Pfizer Share Exchange; 

  
 19 

	 	(b)	 any Haleon Group Company carrying on, at any time before Demerger Completion, any Pfizer Business (including
any Haleon Tax Liability arising directly as a consequence of any Income, Profits or Gains being earned, accrued or received as a result thereof); or 

  

	 	(c)	 the failure by a Pfizer Group Company at any time to comply with any of its obligations under this Deed or any
Transaction Document 

  

	 	(ii)	 for which Pfizer would have been liable under clause 8 (Secondary Tax Liabilities) of the Cosmos SCA (had it
remained in effect, and had references to “Company” and “Company’s Group” therein been references to “Haleon” and “Haleon Group” as defined in this Deed as the context demands); or 

 

	 	(iii)	 in respect of a Haleon Tax Liability of PFCHHL only, which arises directly as a consequence of:

  

	 	(a)	 any Event occurring on or before Pfizer Share Exchange Completion (or being deemed to occur on or before Pfizer
Share Exchange Completion for the purposes of any Tax); or 

  

	 	(b)	 any Income, Profits or Gains to the extent that such Income, Profits or Gains were earned, accrued or received
(A) on or before Pfizer Share Exchange Completion, or (B) in respect of a period ending on or before Pfizer Share Exchange Completion, and 

  

	 	(B)	 Pfizer’s Relevant Percentage of any Haleon Tax Liability arising directly as a consequence of:

  

	 	(i)	 the Reorganisation (or any part thereof); or 

 

	 	(ii)	 the Demerger, save for any Haleon Tax Liability which falls within clause 2.1(A)(iii).

  

	3.2	 Clause 3.1 shall be effective from (and including) Pfizer Share Exchange Completion.

  

	4.	 GSK and Pfizer Tax Covenants: Limitations 

 

	4.1	 Any covenant contained in clause 2.1 and clause 3.1 shall not apply to any Haleon Tax Liability
to the extent that: 

  

	 	(A)	 it has been provided for in the Accounts of any Haleon Group Company (other than in respect of GSKCHHL or
PFCHHL); 

  
 20 

	 	(B)	 it would not have arisen but for a voluntary transaction, action or omission carried out, effected or made by
any Haleon Group Company at any time after the Relevant Time other than, in each case, any such transaction, action or omission carried out, effected or made:  

 

	 	(i)	 in the ordinary course of the business or trade as carried on by such Haleon Group Company immediately prior to
the applicable Relevant Time; 

  

	 	(ii)	 at the written request of: 

 

	 	(a)	 in the case of any covenant contained in clause 2.1, a GSK Group Company; or

  

	 	(b)	 in the case of any covenant contained in clause 3.1, a Pfizer Group Company; or 

 

	 	(iii)	 as expressly required or expressly permitted under this Deed or any other Transaction Document,

  

	 	    	 and, for the avoidance of doubt (but without prejudice to clause 12), the act of disclosing information
(including the provision of any documentation) to a Tax Authority concerning any particular transaction, action or omission, shall not of itself constitute a “voluntary transaction, action or omission”; 

 

	 	(C)	 it arises in consequence of the making of a Chargeable Payment by a Haleon Group Company other than any such
Chargeable Payment made as expressly required or expressly permitted under any Transaction Document; 

  

	 	(D)	 it arises in consequence of any changes after the applicable Relevant Time of the date to which the relevant
Haleon Group Company makes up its accounts or in the bases, methods or policies of accounting of such Haleon Group Company; 

  

	 	(E)	 it has been made good without cost to any Haleon Group Company, including where such Taxes are paid or
discharged by a person other than a member of the Haleon Group (except where a member of the Haleon Group is required to reimburse such person for such payment or discharge); 

 

	 	(F)	 any Relief (other than a Haleon Relief and any Relief taken into account in clause 10 or clause
11) is available (at no cost to any Haleon Group Company) to relieve or mitigate such Haleon Tax Liability; 

  

	 	(G)	 it arises as a consequence of any failure by either Haleon at any time or any other Haleon Group Company after
the applicable Relevant Time to comply with any of its obligations under this Deed or any Transaction Document; 

  

	 	(H)	 any Haleon Group Company has otherwise made recovery in respect of that Haleon Tax Liability from a person
other than a Haleon Group Company (whether 

  
 21 

	 	
under this Deed, or by means of a claim under any provision of a Transaction Document, or by means of a claim under the Cosmos SAPA or Constellation Tax Covenant or otherwise); 

 

	 	(I)	 the Haleon Tax Liability constitutes interest, a penalty or a fine arising from a failure to pay Tax to a Tax
Authority within a reasonable time after GSK or Pfizer (as the case may be) has made a payment of an amount in respect of the relevant Taxes under clause 2.1 or clause 3.1 (as the case may be); 

 

	 	(J)	 in the case of the covenants contained in clause 2.1(A)(i)(e) and clause 3.1(A)(i)(b) only, the
relevant Income, Profits or Gains have accrued for the benefit of any Haleon Group Company (whether pursuant to any provision of the Cosmos SAPA, any Transaction Document or otherwise), there being no arrangements for the economic benefit of such
Income, Profits or Gains to be transferred to or otherwise enjoyed by (in the case of clause 2.1(A)(i)(e)) any GSK Group Company or (in the case of clause 3.1(A)(i)(b)) any Pfizer Group Company, save in each case to the extent such
Income, Profits or Gains have been provided for in or taken into account in the preparation of the Accounts of the relevant Haleon Group Company; 

  

	 	(K)	 in the case of the covenants contained in clause 2.1(A)(i)(e) and clause 3.1(A)(i)(b) only, the
liability is in relation to a Transfer Pricing Adjustment and the relevant Haleon Group Company is entitled to receive a Balancing Payment pursuant to clause 14, in which case the provisions of clause 14 shall apply in priority to
clause 2.1(A)(i)(e) and clause 3.1(A)(i)(b) (as applicable); 

  

	 	(L)	 such Haleon Tax Liability constitutes “Seller Indemnified Taxes” or “Purchaser Parent
Indemnified Taxes” (as such terms are defined in the Cosmos SAPA); 

  

	 	(M)	 such Haleon Tax Liability would not have arisen but for a change in the status as a taxpayer, residence or
deemed residence of Haleon for any Tax purposes due to a change in applicable Law that is made after Demerger Completion; or 

  

	 	(N)	 such Haleon Tax Liability is expressly allocated to a Haleon Group Company pursuant to the ATFA, the Argentina
NEBA or any other Transaction Document, provided that, in the case of the covenants contained in clause 2.1, such express allocation is as between a GSK Group Company and a Haleon Group Company and, in the case of the covenants contained in
clause 3.1, such express allocation is as between a Pfizer Group Company and a Haleon Group Company, and that in each case the express allocation is pursuant to an agreement to which both a member of the GSK Group or a member of the Pfizer
Group (as applicable) and a member of the Haleon Group are party.  

  

	4.2	 GSK and Pfizer each agree with Haleon that to the extent GSK (or any member of its Group) or Pfizer (or any
member of its Group) has a statutory or other right to recover any amount falling within the covenants at clause 2.1(A)(ii) or clause 3.1(A)(ii), as the case may be, against Haleon (or a member of the Haleon Group) then, to the extent
that the same has given rise to a payment under such aforementioned clauses of this Deed, or 

  
 22 

	 	
under Section 6.5(d) of the Cosmos SAPA, GSK or Pfizer (as the case may be) shall not, and shall procure (respectively) that the relevant member of the GSK Group and any member of the Pfizer
Group shall not, make any claim under such statutory or other right or take any other action to enforce such statutory or other right of recovery. 

  

	4.3	 To the extent that a claim could (apart from this clause 4.3) be made by Haleon:

  

	 	(A)	 against GSK under both clause 2.1(A) and clause 2.1(B), a claim may be brought only under
clause 2.1(A); or 

  

	 	(B)	 against Pfizer under both clause 3.1(A) and clause 3.1(B), a claim may be brought only under
clause 3.1(A). 

  

	4.4	 Save in circumstances where clause 4.10, clause 4.11 and/or clause 4.12 mean that a claim
in relation to a particular matter may only be made against GSK or against Pfizer under clause 2.1(B) or clause 3.1(B) respectively, Haleon may make a claim against GSK under clause 2.1(B) only if it makes a claim in respect of
the same matter against Pfizer under clause 3.1(B) (and vice versa). 

  

	4.5	 Haleon shall conduct any discussion, negotiation, settlement or dispute of any claim (or potential claim) it
may have against GSK under clause 2.1(B) and Pfizer under clause 3.1(B) in respect of the same matter in good faith and shall deal with each of GSK and Pfizer in a consistent manner. 

 

	4.6	 The parties acknowledge that GSK and Pfizer shall each be entitled to jointly
co-operate, co-ordinate, discuss and respond to any claim by Haleon under clause 2.1(B) and clause 3.1(B) and shall be entitled to share with each other
such information as may be necessary or expedient in connection with the same. 

  

	4.7	 No claim may be brought under clause 2.1 or clause 3.1 against GSK or Pfizer (respectively)
unless Haleon shall have given to (in the case of a claim under clause 2.1) GSK or (in the case of a claim under clause 3.1) Pfizer written notice of such claim specifying (in detail that is reasonable in the circumstances) the matter
which gives rise to the claim, the nature of the claim and the amount claimed in respect thereof on or before the date falling 30 days after the expiry of the period specified by statute during which an assessment of the relevant Tax liability may
be issued by the relevant Tax Authority or, if there is no such period, the date falling six years and 30 days after the end of the accounting period of the relevant Haleon Group Company in which Completion occurs. 

 

	4.8	 GSK shall not be liable in respect of any individual claim under clause 2.1(A), and Pfizer shall not be
liable in respect of an individual claim under clause 3.1(A), for less than [***] but once the amount of any such claim has exceeded such sum, GSK or Pfizer (as applicable) shall be liable in respect of the full amount of such claim and not
only the amount by which such sum is exceeded. For the purposes of this clause 4.8, individual claims arising out of the same or substantially the same matters, facts or circumstances shall be aggregated so as to be treated as a single claim.

  
 23 

	4.9	 Neither GSK nor Pfizer shall be liable for any individual claim in respect of the same matter under
(respectively) clause 2.1(B) and clause 3.1(B) (“Parallel Claims”) unless the aggregate liability of GSK and Pfizer in respect of those Parallel Claims is equal to or exceeds [***]. If the quantum of any Parallel
Claims is equal to or exceeds such threshold, GSK and Pfizer shall each be liable in respect of the full amount of such claims under clause 2.1(B) or clause 3.1(B) (as applicable) and not only any applicable excess. For the purposes of
this clause 4.9, individual claims arising out of the same or substantially the same matters, facts or circumstances shall be aggregated so as to be treated as a single claim. 

 

	4.10	 Pfizer shall have no liability in respect of any claim under clause 3.1(B)(i) in respect of a matter
that does not concern Indirect CGT (a “Non-Indirect CGT Claim”) unless and until the aggregate amount that Haleon could have claimed from Pfizer in respect of any such Non-Indirect CGT Claims in the absence of this clause 4.10 would have exceeded [***], in which event Pfizer shall thereafter be liable under clause 3.1(B)(i) for such amounts which exceed that [***]
threshold (and not for the full amount of such claims). 

  

	4.11	 The total aggregate liability of GSK in respect of any claim or claims under clause 2.1(B)(i) shall
not exceed [***], save that this clause 4.11 shall not apply in respect of any claim or claims under clause 2.1(B)(i) to the extent the same concerns Indirect CGT. 

 

	4.12	 The total aggregate liability of Pfizer in respect of any claim or claims under clause 3.1(B)(i) shall
not exceed [***], save that this clause 4.12 shall not apply in respect of any claim or claims under clause 3.1(B)(i) to the extent the same concerns Indirect CGT. 

 

	5.	 Haleon Tax Covenant 

 

	5.1	 Subject to the other provisions of this Deed, Haleon covenants with GSK to pay GSK an amount equal, on an after-Tax basis, to any GSK Tax Liability arising directly as a consequence of: 

  

	 	(A)	 any matter described in clause 8.1 or clause 8.3 of the Cosmos SCA and for which Haleon would be liable to GSK
under such provisions (had clause 8 (Secondary Tax Liabilities) of the Cosmos SCA remained in effect, and had references to “GSK” and “GSK’s Group” therein been references to “Haleon” and “Haleon Group”,
and had references to “Company” and “Company’s Group” therein been references to “GSK” and “GSK Group” as defined in this Deed as the context demands); 

 

	 	(B)	 GSK Group Company carrying on, at any time before Demerger Completion, any Consumer Healthcare Business
(including any GSK Tax Liability arising directly as a consequence of any Income, Profits or Gains being earned, accrued or received as a result thereof); 

  
 24 

	 	(C)	 any failure by either Haleon at any time or any other Haleon Group Company after the applicable Relevant Time
to comply with any of its obligations under this Deed or any Transaction Document; and 

  

	 	(D)	 the making of a Chargeable Payment by any Haleon Group Company other than any such Chargeable Payment made as
expressly required or expressly permitted under any Transaction Document. 

  

	5.2	 Clause 5.1 shall be effective from (and including) Demerger Completion. 

 

	5.3	 Subject to the other provisions of this Deed, Haleon covenants with Pfizer to pay Pfizer an amount equal, on an
after-Tax basis, to any Pfizer Tax Liability arising directly as a consequence of: 

  

	 	(A)	 any matter described in clause 8.2 or clause 8.4 of the Cosmos SCA and for which Haleon would be liable to
Pfizer under such provisions (had clause 8 (Secondary Tax Liabilities) of the Cosmos SCA remained in effect, and had references to “Pfizer” and “Pfizer’s Group” therein been references to “Haleon” and “Haleon
Group” as defined in this Deed, and had references to “Company” and “Company’s Group” therein been references to “Pfizer” and “Pfizer’s Group” as defined in this Deed as the context demands);

  

	 	(B)	 any Pfizer Group Company carrying on, at any time before Demerger Completion, any Consumer Healthcare Business
(including any Pfizer Tax Liability arising directly as a consequence of any Income, Profits or Gains being earned, accrued or received as a result thereof); and 

 

	 	(C)	 any failure by either Haleon at any time or any other Haleon Group Company after Demerger Completion to comply
with any of its obligations under this Deed or any Transaction Document. 

  

	5.4	 Clause 5.3 shall be effective from (and including) Demerger Completion. 

 

	6.	 Haleon Tax Covenant: Limitations 

 

	6.1	 Any covenant contained in clause 5.1 and clause 5.3 shall not apply to any GSK Tax Liability or
any Pfizer Tax Liability respectively to the extent that: 

  

	 	(A)	 it would not have arisen but for a voluntary transaction, action or omission carried out, effected or made by
(in the case of clause 5.1) any GSK Group Company or (in the case of clause 5.3) any Pfizer Group Company, at any time after Demerger Completion, other than any such transaction, action or omission carried out, effected or made:

  

	 	(i)	 in the ordinary course of the business or trade as carried on by (in the case of clause 5.1) a GSK Group
Company or (in the case of clause 5.3) a Pfizer Group Company immediately prior to Demerger Completion; 

  

	 	(ii)	 at the written request of any Haleon Group Company; or 

  
 25 

	 	(iii)	 as expressly required or expressly permitted under this Deed, 

 

	 	    	 and, for the avoidance of doubt (but without prejudice to clause 12), the act of disclosing information
(including the provision of any documentation) to a Tax Authority concerning any particular transaction, action or omission, shall not of itself constitute a “voluntary transaction, action or omission”; 

 

	 	(B)	 it arises in consequence of any changes after Demerger Completion of the date to which (in the case of
clause 5.1) a GSK Group Company or (in the case of clause 5.3) a Pfizer Group Company, makes up its accounts or in the bases, methods or policies of accounting of any (in the case of clause 5.1) GSK Group Company or (in the case
of clause 5.3) Pfizer Group Company; 

  

	 	(C)	 it has been made good without cost to (in the case of clause 5.1) any GSK Group Company or (in the case
of clause 5.3) any Pfizer Group Company, including where such Taxes are paid or discharged by a person other than a member of (in the case of clause 5.1) the GSK Group or (in the case of clause 5.3) the Pfizer Group (except
where a member of the GSK Group or Pfizer Group, as applicable, is required to reimburse such person for such payment or discharge); 

  

	 	(D)	 any Relief other than: 

 

	 	(i)	 (in the case of clause 5.1) a GSK Relief or (insofar as such clauses concern GSK) any Relief taken into
account in clause 10 or clause 11; or 

  

	 	(ii)	 (in the case of clause 5.3) a Pfizer Relief or (insofar as such clauses concern Pfizer) any Relief taken
into account in clause 10 or clause 11, 

  

	 	    	 is available to relieve or mitigate such GSK Tax Liability or Pfizer Tax Liability (as applicable);

  

	 	(E)	 the GSK Tax Liability or Pfizer Tax Liability (as applicable) constitutes interest, a penalty or a fine arising
from a failure to pay Tax to a Tax Authority within a reasonable time after Haleon has made a payment of an amount in respect of the relevant Taxes under clause 5.1 or clause 5.3 (as the case may be); 

 

	 	(F)	 it arises as a consequence of any failure by (in the case of clause 5.1) any GSK Group Company or (in
the case of clause 5.3) any Pfizer Group Company to comply with any of its obligations under this Deed or any Transaction Document; 

  

	 	(G)	 either (in the case of clause 5.1) any GSK Group Company or (in the case of clause 5.3) any
Pfizer Group Company has otherwise made recovery in respect of that GSK Tax Liability or Pfizer Tax Liability (as applicable) from a person other than a GSK Group Company or Pfizer Group Company (as applicable), whether under this Deed, or by means
of a claim under any provision of any Transaction Document or otherwise; 

  
 26 

	 	(H)	 in the case of the covenants contained in clause 5.1(B) and clause 5.3(B) only:

  

	 	(i)	 a member of the Haleon Group would have been entitled to make a claim (in the case of a GSK Tax Liability)
against GSK under Section 6.5(d)(ii) of the Cosmos SAPA or (in the case of a Pfizer Tax Liability) against Pfizer under Section 6.5(d)(i) of the Cosmos SAPA had the relevant liability to Tax arisen to a Haleon Group Company instead of a
GSK Group Company or a Pfizer Group Company (as applicable); 

  

	 	(ii)	 the relevant Income, Profits or Gains (and the liability to Tax in relation thereto) shall be economically
borne by a Haleon Group Company pursuant to the GSK NEB Agreement, the Pfizer NEB Agreement or any arrangement with a similar economic effect; or 

  

	 	(iii)	 the relevant Income, Profits or Gains have accrued for the benefit of (in the case of clause 5.1(B)) any
GSK Group Company or (in the case of clause 5.3(B)) any Pfizer Group Company, there being no arrangements for the economic benefit of such Income, Profits or Gains to be transferred to or otherwise enjoyed by any Haleon Group Company;

  

	 	(I)	 in the case of the covenants contained in clause 5.1(B) and clause 5.3(B), the liability is in
relation to a Transfer Pricing Adjustment and the relevant GSK Group Company or Pfizer Group Company (as applicable) is entitled to receive a Balancing Payment pursuant to clause 14, in which case the provisions of clause 14
shall apply in priority to clause 5.1(B) and clause 5.3(B) (as applicable); or 

  

	 	(J)	 in the case of a GSK Tax Liability, such GSK Tax Liability is expressly allocated to a GSK Group Company
pursuant to the ATFA, the Argentina NEBA or any other Transaction Document, provided that such express allocation is as between a GSK Group Company and a Haleon Group Company and that the express allocation is pursuant to an agreement to which both
a member of the GSK Group and a member of the Haleon Group are party; or 

  

	 	(K)	 such GSK Tax Liability or Pfizer Tax Liability (as applicable) would not have arisen but for a change in the
status as a taxpayer, residence or deemed residence of Haleon for any Tax purposes due to a change in applicable Law that is made after Demerger Completion.  

 

	6.2	 Haleon agrees with each of GSK and Pfizer that to the extent Haleon (or any member of its Group) has a
statutory or other right to recover any amount falling within the covenants at clause 5.1(A) or clause 5.3(A) against (in the case of clause 5.1(A)) GSK or a member of the GSK Group or (in the case of clause 5.3(A))
Pfizer or a member of the Pfizer Group then, to the extent that the same has given rise to a payment under such aforementioned clauses of this Deed, Haleon shall not, and shall procure that the relevant member of the Haleon Group shall not, make any
claim under such statutory or other right or take any other action to enforce such statutory or other right of recovery. 

  
 27 

	6.3	 No claim may be brought under clause 5.1 or clause 5.3 against Haleon unless (in the case of
clause 5.1) GSK or (in the case of clause 5.3) Pfizer shall have given to Haleon written notice of such claim specifying (in detail that is reasonable in the circumstances) the matter which gives rise to the claim, the nature of
the claim and the amount claimed in respect thereof on or before the date falling 30 days after the expiry of the period specified by statute during which an assessment of the relevant Tax liability may be issued by the relevant Tax Authority or, if
there is no such period, the date falling six years and 30 days after the end of the accounting period of the relevant GSK Group Company or Pfizer Group Company (as applicable) in which Demerger Completion occurs. 

 

	6.4	 Haleon shall not be liable in respect of any individual claim under clause 5.1 or clause 5.3, for
less than [***], but once the amount of any such claim has exceeded such sum, Haleon shall be liable in respect of the full amount of such claim and not only the amount by which such sum is exceeded. For the purposes of this clause 6.4,
individual claims arising out of the same or substantially the same matters, facts or circumstances shall be aggregated so as to be treated as a single claim. 

 

	7.	 Costs and Expenses 

 

	7.1	 Subject to clause 7.3, GSK hereby covenants to pay to Haleon an amount equal, on an after-Tax basis, to any Costs properly incurred or payable by a Haleon Group Company in connection with or in consequence of (i) any Haleon Tax Liability referred to in clause 2.1 to the extent that it
gives rise to an obligation for GSK to make a payment under clause 2.1, or (ii) in successfully taking any action under clause 2.1.  

 

	7.2	 Subject to clause 7.3, Pfizer hereby covenants to pay to Haleon an amount equal, on an after-Tax basis, to any Costs properly incurred or payable by a Haleon Group Company in connection with or in consequence of (i) any Haleon Tax Liability referred to in clause 3.1 to the extent that it
gives rise to an obligation for Pfizer to make a payment under clause 3.1, or (ii) in successfully taking any action under clause 3.1.  

 

	7.3	 GSK and Pfizer each separately covenant to pay to Haleon an amount equal, on an
after-Tax basis, to their respective Relevant Percentages of any Costs properly incurred or payable by a Haleon Group Company in connection with or in consequence of (i) any Haleon Tax Liability referred
to in clause 2.1(B) and clause 3.1(B) to the extent that it gives rise to an obligation for both of GSK and Pfizer to make a payment under clause 2.1(B) and clause 3.1(B) (respectively), or (ii) in successfully
taking any action against both of GSK and Pfizer under clause 2.1(B) and clause 3.1(B) (respectively). 

  

	7.4	 Haleon hereby covenants to pay: 

 

	 	(A)	 to GSK an amount equal, on an after-Tax basis, to any Costs properly
incurred or payable by a GSK Group Company in connection with or in consequence of (i) any GSK Tax Liability referred to in clause 5.1 to the extent that it gives rise to an obligation for Haleon to make a payment under clause
5.1, or (ii) in successfully taking any action under clause 5.1. 

  
 28 

	 	(B)	 to Pfizer an amount equal, on an after-Tax basis, to any Costs properly
incurred or payable by a Pfizer Group Company in connection with or in consequence of (i) any Pfizer Tax Liability referred to in clause 5.3 to the extent that it gives rise to an obligation for Haleon to make a payment under
clause 5.3, or (ii) in successfully taking any action under clause 5.3. 

  

	8.	 Mitigation 

  

	8.1	 Subject to clause 8.2, the Indemnified Party shall, at the direction in writing of the Indemnifying
Party (acting reasonably) and subject to the Indemnifying Party indemnifying and securing the Indemnified Party on an after-Tax basis against all Costs which may thereby be incurred: 

 

	 	(A)	 take, or procure that any other member of the Indemnified Party’s Group shall take, all such steps as the
Indemnifying Party may require to: 

  

	 	(i)	 make, or procure that any member of the Indemnifying Party’s Group makes, a Relief Surrender; or

  

	 	(ii)	 otherwise surrender or transfer, or procure that any other member of the Indemnifying Party’s Group
surrenders or transfers, so far as permitted by Law, any Relief to any member of the Indemnified Party’s Group, 

  

	 	    	 in each case for no consideration; 

 

	 	(B)	 use, or procure that another member of the Indemnified Party’s Group shall use, all such Reliefs
including, without limitation, Reliefs made available in accordance with clause 8.1 but (in all cases) excluding any Indemnified Party’s Relief; and 

 

	 	(C)	 make, or procure that another member of the Indemnified Party’s Group shall make, all claims and elections
specified by the Indemnifying Party, 

  

	 	    	 in each case so as to reduce, eliminate or make good any Tax Liability for which the Indemnifying Party would
otherwise be liable under clause 2, clause 3 or clause 5 (as applicable), provided that nothing in this clause 8.1 shall require any member of an Indemnified Party’s Group to use (i) any Indemnified Party’s
Relief, or (ii) any Relief to the extent it has already been taken into account for the purposes of clause 10 or clause 11, and that the Indemnified Party shall, for the avoidance of doubt, not be considered to be acting
reasonably in making a direction for the purposes of this clause 8.1 to the extent such direction directs an action by the Indemnified Party’s Group that is reasonably expected to increase the Tax Liabilities of such Indemnified
Party’s Group for which it is not indemnified (whether under this Deed, any Transaction Document, the Cosmos SAPA, the Constellation Tax Covenant or otherwise). 

 

	8.2	 In the event that both GSK and Pfizer are Indemnifying Parties and any directions from GSK and Pfizer under
clause 8.1 shall conflict, the direction of the Indemnifying Party which is also the Directing Party shall prevail, provided that the Directing Party shall consult with the Non-Directing Party in good
faith before any direction is given under 

  
 29 

	 	
clause 8.1. [Where GSK and Pfizer remain unable to agree despite such consultation, the Directing Party shall in good faith take into account and reflect any suggestions or comments from
the Non-Directing Party concerning the matter and procure that they are reflected in any action or inaction which is ultimately decided upon to the extent that they are reasonable]. 

 

	8.3	 For the purposes of clause 8 only: 

 

	 	(A)	 “Indemnified Party” shall mean the Party that would be entitled to make the applicable claim
under clause 2, clause 3 or clause 5; 

  

	 	(B)	 “Indemnifying Party” shall mean the Party that would be liable with respect to the applicable
claim under clause 2, clause 3 or clause 5; 

  

	 	(C)	 “Indemnified Party’s Group” and “Indemnifying Party’s Group” shall
mean the Haleon Group, the GSK Group or the Pfizer Group according to the identity of the Indemnified Party and the Indemnifying Party respectively; and 

  

	 	(D)	 “Indemnified Party’s Relief” shall mean a Haleon Relief, a GSK Relief or a Pfizer Relief
according to the identity of the Indemnified Party; and 

  

	 	(E)	 “Tax Liability” shall mean the Haleon Tax Liability, the GSK Tax Liability or the Pfizer Tax
Liability as the context demands. 

  

	9.	 Due Date of Payment 

 

	9.1	 Where any party becomes liable to make any payment pursuant to clause 2, clause 3,
clause 5 or clause 7 of this Deed, the due date for the making of that payment shall be: 

  

	 	(A)	 in a case which involves an actual payment of Tax, the later of: 

 

	 	(i)	 the date falling 10 Business Days prior to the last date on which the member of the relevant Group whose
liability to Tax has given rise to the relevant payment pursuant to clause 2, clause 3 or clause 5 of this Deed (the “Indemnified Company”) would have had to have paid the Tax that has given rise to the
liability under this Deed in order to avoid incurring a liability to interest or a charge or penalty in respect of that liability; and 

  

	 	(ii)	 the date falling 10 Business Days after the party which is liable to make the payment under this Deed has been
notified of its liability by the other party; 

  

	 	(B)	 in a case which involves the setting off of a right to repayment of Tax or the utilisation of Relief, the later
of: 

  

	 	(i)	 the date falling 10 Business Days prior to the last date on which the Indemnified Company would have had to
have paid the Tax against which the repayment that has given rise to the liability under this Deed has been 

  
 30 

	 	
set off or which would have been paid but for the utilisation of the Relief (as the case may be) in order to avoid incurring a liability to interest or a charge or penalty in respect of that
liability; and 

  

	 	(ii)	 the date falling 10 Business Days after the party which is liable to make the payment under this Deed has been
notified of its liability by the other party; and 

  

	 	(C)	 in a case which involves a payment pursuant to clause 7, the date falling 10 Business Days after the
party which is liable to make the payment under the relevant clause has been notified of its liability by the Indemnified Company. 

  

	10.	 Recovery 

  

	10.1	 Where a Haleon Group Company is entitled to recover from any other person (other than a GSK Group Company or a
Haleon Group Company, but including a Tax Authority) any sum in respect of any matter which has given rise to an obligation of: 

  

	 	(A)	 GSK to make a payment under clause 2.1(A); or 

 

	 	(B)	 GSK to make a payment under clause 2.1(B), but not of Pfizer to make a payment under 3.1(B),

 then Haleon shall procure that the relevant Haleon Group Company shall (if requested by and subject to GSK indemnifying
and securing the relevant Haleon Group Company on an after-Tax basis against all Costs which may thereby be incurred) take such action as GSK shall reasonably request in writing to enforce such recovery
against the person in question and Haleon shall procure that the relevant Haleon Group Company shall account to GSK for any Recovered Amounts up to an amount not exceeding the amount paid by GSK under clause 2.1(A) or clause 2.1(B) in
respect of the relevant matter. 
  

	10.2	 If Haleon considers (acting reasonably and in good faith) that any action requested by GSK in accordance with
clause 10.1 has or is likely to have a material and negative impact on the relationship between a Haleon Group Company and a Tax Authority [ or is or is likely to be materially prejudicial to a Haleon Group Company’s business],
Haleon shall be entitled to decline to give effect to that action provided always that an amount equal to what would reasonably be expected to have been the applicable Recovered Amount (but for Haleon exercising its rights under this clause
10.2) shall still be treated as a “Recovered Amount” to which GSK is entitled under clause 10.1. 

   

	10.3	 Where a Haleon Group Company is entitled to recover from any other person (other than a Pfizer Group Company or
a Haleon Group Company, but including a Tax Authority) any sum in respect of any matter which has given rise to an obligation of: 

  

	 	(A)	 Pfizer to make a payment of clause 3.1(A); or 

 

	 	(B)	 Pfizer to make a payment under clause 3.1(B), but not of GSK to make a payment under clause
2.1(B), 

  
 31 

 then clause 10.1 and clause 10.2 shall apply mutatis mutandis. 

 

	10.4	 Where a Haleon Group Company is entitled to recover from any other person (other than a GSK Group Company or a
Pfizer Group Company and other than a Haleon Group Company, but including a Tax Authority) any sum in respect of a matter which has given rise to an obligation of GSK and Pfizer to make a payment under clause 2.1(B) and clause 3.1(B)
(respectively), then: 

  

	 	(A)	 GSK and Pfizer shall consult with each other in good faith as to whether to request Haleon to enforce recovery
against the person in question and, if so, what action is required to achieve this. [Where GSK and Pfizer remain unable to agree, the Directing Party shall in good faith take into account and reflect any suggestions or comments from the Non-Directing Party concerning the matter and procure that they are reflected in any action or inaction which is ultimately decided upon to the extent that they are reasonable]; 

 

	 	(B)	 Haleon, if requested by the Directing Party (and subject to GSK and Pfizer indemnifying the relevant Haleon
Group Company on an after-Tax basis against all Costs which may thereby be incurred), take such action as the Directing Party shall reasonably request in writing to enforce such recovery against the person in
question; and 

  

	 	(C)	 Haleon shall procure that the relevant Haleon Group Company shall account to each of GSK and Pfizer
(respectively) for the percentage of the Recovered Amounts corresponding to the proportion of the underlying Haleon Tax Liability that was indemnified by GSK and Pfizer (respectively) under clause 2.1(B) and clause 3.1(B) (and for the
avoidance of doubt taking into account the application of clause 4.10 to clause 4.12 (inclusive)) up to an amount not exceeding (in the case of GSK) the amount paid by GSK under clause 2.1(B) in respect of the relevant
matter or (in the case of Pfizer) the amount paid by Pfizer under clause 3.1(B) in respect of the relevant matter. 

  

	10.5	 The Directing Party must meet its obligations with respect to the
Non-Directing Party as set out in clause 10.4(A) prior to giving any request to Haleon as is mentioned in clause 10.4(B). 

 

	10.6	 GSK and Pfizer shall bear the burden of the indemnity in clause 10.4(B) according to their respective
Relevant Percentages. 

  

	10.7	 If Haleon considers (acting reasonably and in good faith) that any action requested by the Directing Party in
accordance with clause 10.4 has or is likely to have a material and negative impact on the relationship between a Haleon Group Company and a Tax Authority [or is or is likely to be materially prejudicial to a Haleon Group
Company’s business], Haleon shall be entitled to decline to give effect to that action provided always that an amount equal to what would reasonably be expected to have been the applicable Recovered Amount (but for Haleon exercising its rights
under this clause 10.7) shall still be treated as a “Recovered Amount” to which GSK and Pfizer are entitled under clause 10.4. 

  
 32 

	10.8	 Where a GSK Group Company is entitled to recover from any other person (other than a Haleon Group Company and
GSK Group Company, but including a Tax Authority) any sum in respect of any matter to which clause 5.1 relates, GSK shall procure that the relevant GSK Group Company shall (if requested by and subject to Haleon indemnifying and securing the
relevant GSK Group Company on an after-Tax basis against all Costs which may thereby be incurred) take such action as Haleon shall reasonably request in writing to enforce such recovery against the person in
question and GSK shall procure that the relevant GSK Group Company shall account to Haleon for any Recovered Amounts, up to an amount not exceeding the amount paid by Haleon under clause 5.1 in respect of the relevant matter.

  

	10.9	 If GSK considers (acting reasonably and in good faith) that any action requested by Haleon in accordance with
clause 10.8 has or is likely to have a material and negative impact on the relationship between a GSK Group Company and a Tax Authority, GSK shall be entitled to decline to give effect to that action provided always that an amount
equal to what would reasonably be expected to have been the applicable Recovered Amount (but for GSK exercising its rights under this clause 10.9) shall still be treated as a “Recovered Amount” to which Haleon is entitled under
clause 10.8. 

  

	10.10	 Where a Pfizer Group Company is entitled to recover from any other person (other than a Haleon Group Company or
a Pfizer Group Company, but including a Tax Authority) any sum in respect of any matter to which clause 5.3 relates, then clause 10.8 and clause 10.9 shall apply mutatis mutandis. 

 

	10.11	 In this clause 10 only, “Recovered Amount” means: 

 

	 	(A)	 sums recovered (including any interest paid by a person from whom the recovery is made) less any Costs of
recovery and any Tax chargeable thereon suffered by the person making the recovery; and 

  

	 	(B)	 any amounts deemed to be Recovered Amounts under clause 10.2, clause 10.7 and clause 10.9
(including, where relevant, as any such clauses apply when read together with clause 10.3 or clause 10.10). 

  

	11.	 Reliefs 

  

	11.1	 Where GSK has made a payment to Haleon under clause 2.1 in respect of a Haleon Tax Liability, or such a
payment has become due, and such Haleon Tax Liability gives rise to (or the circumstances giving rise thereto give rise to) a Relief that either (i) comprises a repayment of Tax to or (ii) results in an actual saving of Tax for a Haleon
Group Company which (in either case) otherwise would not have arisen, Haleon shall procure that the amount of the repayment or cash tax saving less any Costs of recovery and any Tax thereon (the “Relevant Amount”) shall be dealt
with in accordance with clause 11.2. 

  

	11.2	 Subject to clause 11.4, the Relevant Amount: 

 

	 	(A)	 shall first be set off against any payment then due from GSK under this Deed; 

  
 33 

	 	(B)	 to the extent there is an excess, a refund shall be made to GSK of any previous payment or payments made by GSK
under this Deed and not previously refunded under this clause 11.2(B) up to the amount of such excess; and 

  

	 	(C)	 to the extent that the excess referred to in clause 11.2(B) is not exhausted under that clause, then the
remainder of that excess shall be carried forward and set off against any future payment or payments which become due from GSK under this Deed. 

  

	11.3	 The provisions of clause 11.1 and clause 11.2 above shall (subject to clause 11.4) apply,
mutatis mutandis, to the Parties in relation to: 

  

	 	(A)	 any Haleon Tax Liability which has resulted in a payment having been made or becoming due from Pfizer under
clause 3.1; and 

  

	 	(B)	 any GSK Tax Liability which has resulted in a payment having been made or becoming due from Haleon under
clause 5.1; and 

  

	 	(C)	 any Pfizer Tax Liability which has resulted in a payment having been made or becoming due from Haleon under
clause 5.3. 

  

	11.4	 Where both GSK and Pfizer have made a payment under clause 2.1(B) and clause 3.1(B) in respect of
a particular Haleon Tax Liability, or such payment has become due, and clause 11.1 applies (including as it applies by virtue of clause 11.3(A)), the percentage of the Relevant Amount corresponding to the proportion of the underlying
Haleon Tax Liability for which GSK and Pfizer (respectively) was or would be liable for under clause 2.1(B) and clause 3.1(B) (and for the avoidance of doubt taking into account the application of clause 4.10 to clause
4.12 (inclusive)) shall be applied for GSK’s and Pfizer’s benefit (respectively) as specified in clause 11.2 (including as it applies by virtue of clause 11.3(A)). 

 

	12.	 Conduct of Tax Authority Claims 

Notification of Tax Authority Claim 
  

	12.1	 If a Haleon Group Company becomes aware of any Tax Authority Claim relating to its Tax affairs which is
relevant for the purposes of clause 2 or clause 3 (or any circumstances likely to give rise to such a Tax Authority Claim), Haleon shall give written notice thereof to both GSK and Pfizer as soon as reasonably practicable and in any
event within 10 Business Days, provided that the right to indemnification pursuant to clause 2 or clause 3 shall not be limited for failure to notify except to the extent that such failure actually prejudices or increases the relevant
Tax Liability. 

  

	12.2	 If a GSK Group Company or Pfizer Group Company becomes aware of any Tax Authority Claim relating to its Tax
affairs which is relevant for the purposes of clause 5.1 or clause 5.3 respectively (or if a GSK Group Company or Pfizer Group Company becomes aware of any circumstances likely to give rise to such a Tax Authority Claim), GSK or Pfizer
(as applicable) shall give written notice thereof to Haleon as soon as reasonably practicable 

  
 34 

	 	
and in any event within 10 Business Days, provided that the right to indemnification pursuant to clause 5.1 or clause 5.3 shall not be limited for failure to notify except to the
extent that such failure actually prejudices or increases the relevant Tax Liability. 

 Tax Authority Claims relating to a matter for
which GSK may be liable 
  

	12.3	 In relation to any Tax Authority Claim in respect of a potential Haleon Tax Liability which, if it becomes an
actual Haleon Tax Liability, is reasonably expected to give rise to an obligation of: 

  

	 	(A)	 GSK to make a payment under clause 2.1(A); or 

 

	 	(B)	 GSK to make a payment under clause 2.1(B), but not of Pfizer to make a payment under 3.1(B),

 then, provided that GSK shall indemnify the relevant Haleon Group Company on an
after-Tax basis against any losses, fines, penalties, interest, charges, and Costs arising therefrom, Haleon shall (subject to clause 12.5) procure that the relevant Haleon Group Company shall take such
action as GSK may reasonably request to avoid, dispute, resist, appeal, compromise or defend such Tax Authority Claim, provided that the relevant Haleon Group Company shall not be required to settle any such Tax Authority Claim if doing so would
reasonably be expected to materially increase the Tax liabilities of the Haleon Group Companies (taking into account any indemnification for the same under this Deed, any Transaction Document, the Cosmos SAPA and the Constellation Tax Covenant)
without Haleon’s prior written consent, such consent not to be unreasonably withheld, delayed or conditioned. GSK shall have the right to nominate professional advisers for this purpose provided always that the appointment of solicitors or
other professional advisers shall be subject to the approval of the relevant Haleon Group Company (such approval not to be unreasonably withheld or delayed). 
  

	12.4	 To enable full exercise and performance of the rights and obligations in clause 12.3:

  

	 	(A)	 Haleon shall keep GSK fully informed of all matters pertaining to the Tax Authority Claim mentioned in
clause 12.3 (and vice versa); 

  

	 	(B)	 Haleon shall provide GSK with copies of all correspondence and material documents pertaining to the Tax
Authority Claim mentioned in clause 12.3 (and vice versa); 

  

	 	(C)	 written communications (including any emails) and any material documents pertaining to the Tax Authority Claim
which Haleon (or the relevant Haleon Group Company) intends to transmit to the relevant Tax Authority shall first be submitted in good time by Haleon to GSK for review. Haleon shall (or shall procure that) any reasonable written comments timely
received from GSK shall be reflected in such written communications and (where applicable) documents; and 

  

	 	(D)	 to the extent permitted by applicable Law, a representative from each of Haleon and GSK (and their respective
nominated advisors) shall be given the opportunity 

  
 35 

	 	
to attend any meeting or call with any Tax Authority pertaining to the Tax Authority Claim and shall be fully briefed in relation to the purposes of that meeting or call in sufficient time to
enable the representative or advisor to prepare for it. 

  

	12.5	 If Haleon considers (acting reasonably and in good faith) that the exercise by GSK of its Conduct Rights in
relation to any such Tax Authority Claim as is mentioned in clause 12.3 has or is likely to have a material and negative impact on the relationship between a Haleon Group Company and a Tax Authority [or is or is likely to be materially
prejudicial to a Haleon Group Company’s business], Haleon shall be entitled to decline to give effect to those Conduct Rights provided always that GSK shall not be liable under this Deed in respect of the matter to which the Tax Authority Claim
in question relates. 

   

	12.6	 For the avoidance of doubt, nothing in clause 12.3 or clause 12.4 shall require any Haleon Group
Company to give any communication or submit any document to a Tax Authority that is not, to the best of that Haleon Group Company’s knowledge, correct and complete. 

Tax Authority Claims relating to a matter for which Pfizer may be liable 
  

	12.7	 In relation to any Tax Authority Claim in respect of a potential Haleon Tax Liability which, if it becomes an
actual Haleon Tax Liability, is reasonably expected to give rise to an obligation: 

  

	 	(A)	 Pfizer to make a payment of clause 3.1(A); or 

 

	 	(B)	 Pfizer to make a payment under clause 3.1(B), but not of GSK to make a payment under clause
2.1(B), 

 then clause 12.3 to clause 12.6 (inclusive) shall apply mutatis mutandis. 

Tax Authority Claims relating to a matter for which both GSK and Pfizer may be liable 

 

	12.8	 In relation to any Tax Authority Claim in respect of a potential Haleon Tax Liability which, if it becomes an
actual Haleon Tax Liability, is reasonably expected to give rise to an obligation of GSK and Pfizer to make a payment under clause 2.1(B) and clause 3.1(B) (respectively), then: 

 

	 	(A)	 GSK and Pfizer shall consult with each other in good faith as to whether Haleon should take action to avoid,
dispute, resist, appeal, compromise or defend the Tax Authority Claim in question and, if so, what that action should be (including whether, and if so which, professional advisers should be engaged). [Where GSK and Pfizer remain unable to agree, the
Directing Party shall in good faith take into account and reflect any suggestions or comments from the Non-Directing Party concerning the matter and procure that they are reflected in any action or inaction
which is ultimately decided upon to the extent that they are reasonable]; and 

  

	 	(B)	 provided that GSK and Pfizer shall indemnify the relevant Haleon Group Company on an after-Tax basis against any losses, fines, penalties, interest, charges, and Costs arising therefrom, Haleon shall (subject to clause 12.11)

  
 36 

	 	
procure that the relevant Haleon Group Company shall take such action as the Directing Party may reasonably request to avoid, dispute, resist, appeal, compromise or defend such Tax Authority
Claim, provided that the relevant Haleon Group Company shall not be required to settle any such Tax Authority Claim if doing so would reasonably be expected to materially increase the Tax liabilities of the Haleon Group Companies (taking into
account any indemnification for the same under this Deed, any Transaction Document, the Cosmos SAPA and the Constellation Tax Covenant) without Haleon’s prior written consent, such consent not to be unreasonably withheld, delayed or
conditioned. The Directing Party shall have the right to nominate professional advisers for this purpose provided always that the appointment of solicitors or other professional advisers shall be subject to the approval of the relevant Haleon Group
Company (such approval not to be unreasonably withheld or delayed). 

  

	12.9	 To enable full exercise and performance of the rights and obligations in clause 12.8:

  

	 	(A)	 Haleon shall keep GSK and Pfizer fully informed of all matters pertaining to the potential Haleon Tax Liability
mentioned in clause 12.8 (and vice versa); 

  

	 	(B)	 Haleon shall provide GSK and Pfizer with copies of all correspondence and material documents pertaining to the
Tax Authority Claim mentioned in clause 12.8 (and vice versa); 

  

	 	(C)	 written communications (including any emails) and any material documents pertaining to the Tax Authority Claim
which Haleon (or the relevant Haleon Group Company) intends to transmit to the relevant Tax Authority shall first be submitted in good time by Haleon to GSK and to Pfizer for review. Haleon shall (or shall procure that) any reasonable written
comments timely received from the Directing Party shall be reflected in such written communications and (where applicable) documents; and 

  

	 	(D)	 to the extent permitted by applicable Law, a representative from each of Haleon, GSK and Pfizer (and their
respective nominated advisors) shall be given the opportunity to attend any meeting or call with any Tax Authority pertaining to the Tax Authority Claim and shall be fully briefed in relation to the purposes of that meeting or call in sufficient
time to enable the representative or advisor to prepare for it. 

  

	12.10	 The Directing Party must meet its obligations with respect to the
Non-Directing Party as set out in clause 12.8(A) prior to giving any request or comments to Haleon as mentioned in clause 12.8 and clause 12.9. 

 

	12.11	 If Haleon considers (acting reasonably and in good faith) that the exercise by GSK or Pfizer of their
respective Conduct Rights in relation to any such Tax Authority Claim as is mentioned in clause 12.8 has or is likely to have a material and negative impact on the relationship between a Haleon Group Company and a Tax Authority [or is likely
to be materially prejudicial to a Haleon Group Company’s business], Haleon shall be entitled to decline to give effect to those Conduct Rights provided always that GSK and/or Pfizer (as applicable) shall not be liable under this Deed in respect
of the matter to which the Tax Authority Claim in question relates. 

  
 37 

	12.12	 For the avoidance of doubt, nothing in clause 12.8 or clause 12.9 shall require any Haleon Group
Company to give any communication or submit any document to a Tax Authority that is not, to the best of that Haleon Group Company’s knowledge, correct and complete. 

 

	12.13	 [GSK and Pfizer shall each bear the burden of the indemnity in clause 12.8 according to the proportion
of the underlying Haleon Tax Liability that would be payable by GSK or Pfizer respectively if it were to become an actual Haleon Tax Liability in respect of the relevant matter under clause 2.1(B) and clause 3.1(B) (and for the avoidance of doubt
taking into account the application of clause 4.10 to clause 4.12 (inclusive))]. 

 Tax Authority Claims relating to a matter for which
Haleon may be liable 
  

	12.14	 In relation to any potential GSK Tax Liability which if it becomes an actual GSK Tax Liability, is reasonably
expected to give rise to an obligation of Haleon for the purposes of clause 5.1, then provided that Haleon shall indemnify the relevant GSK Group Company on an after-Tax basis against any losses, fines,
penalties, interest, charges, and Costs arising therefrom, GSK shall (subject to clause 12.16) procure that the relevant GSK Group Company shall take such action as Haleon may reasonably request to avoid, dispute, resist, appeal, compromise
or defend such Tax Authority Claim, provided that the relevant GSK Group Company shall not be required to settle any such Tax Authority Claim if doing so would reasonably be expected to materially increase the Tax liabilities of the GSK Group
Companies (taking into account any indemnification for the same under this Deed, any Transaction Document or the Cosmos SAPA) without GSK’s prior written consent, such consent not to be unreasonably withheld, delayed or conditioned. Haleon
shall have the right to nominate professional advisers for this purpose provided always that the appointment of solicitors or other professional advisers shall be subject to the approval of the relevant GSK Group Company (such approval not to be
unreasonably withheld or delayed). 

  

	12.15	 To enable full exercise and performance of the rights and obligations in clause 12.14:

  

	 	(A)	 GSK shall keep Haleon fully informed of all matters pertaining to the Tax Authority Claim mentioned in
clause 12.14 (and vice versa); 

  

	 	(B)	 GSK shall provide Haleon with copies of all correspondence and material documents pertaining to the Tax
Authority Claim mentioned in clause 12.14 (and vice versa); 

  

	 	(C)	 written communications (including any emails) and any material documents pertaining to the Tax Authority Claim
which GSK (or the relevant GSK Group Company) intends to transmit to the relevant Tax Authority shall first be submitted in good time by GSK to Haleon for review. GSK shall (or shall procure that) any reasonable written comments timely received from
Haleon shall be reflected in such written communications and (where applicable) documents; and 

  
 38 

	 	(D)	 to the extent permitted by applicable Law, a representative from each of GSK and Haleon (and their respective
nominated advisors) shall be given the opportunity to attend any meeting or call with any Tax Authority pertaining to the Tax Authority Claim and shall be fully briefed in relation to the purposes of that meeting or call in sufficient time to enable
the representative or advisor to prepare for it. 

  

	12.16	 If GSK considers (acting reasonably and in good faith) that the exercise by Haleon of its Conduct Rights in
relation to any Tax Authority Claim as mentioned in clause 12.14 has or is likely to have a material and negative impact on the relationship between a GSK Group Company and a Tax Authority, GSK shall be entitled to decline to give effect to
those Conduct Rights provided that Haleon shall not be liable under this Deed in respect of the matter to which the Tax Authority Claim in question relates. 

  

	12.17	 For the avoidance of doubt, nothing in clause 12.14 or clause 12.15 shall require any GSK Group
Company to give any communication or submit any document to a Tax Authority that is not, to the best of that GSK Group Company’s knowledge, correct and complete. 

 

	12.18	 In relation to any Tax Authority Claim in respect of a potential Pfizer Tax Liability which if it becomes an
actual Pfizer Tax Liability, is reasonably expected to give rise to an obligation of Haleon for the purposes of clause 5.3, clause 12.14 to clause 12.17 (inclusive) shall apply mutatis mutandis. 

Definition of “Conduct Rights” for purposes of this clause 12 
  

	12.19	 For the purposes of this clause 12 only, “Conduct Rights” shall mean:

  

	 	(A)	 in clause 12.5, those rights in relation to a Tax Authority Claim as are set out in clause 12.3
and clause 12.4 (including as such clauses apply when read together with clause 12.7); 

  

	 	(B)	 in clause 12.11, those rights in relation to a Tax Authority Claim as are set out in clause 12.8
and clause 12.9; and 

  

	 	(C)	 in relation to clause 12.16, those rights in relation to a Tax Authority Claim as are set out in
clause 12.14 and clause 12.15 (including as such clauses apply when read together with clause 12.18). 

  

	13.	 Tax Returns 

  

	13.1	 This clause 13 shall be subject in all respects to the Cosmos SAPA. Where there is any inconsistency
between the provisions of this clause 13 and the Cosmos SAPA (as amended by clause 17), the Cosmos SAPA (as so amended) shall prevail. 

  

	13.2	 Where there is conflict between the provisions of this clause 13 and the provisions of clause 12,
clause 12 shall take precedence. 

  
 39 

 Responsibility for preparation of Tax Returns 

 

	13.3	 Haleon shall prepare (or shall procure that there is prepared) the Tax Returns for all members of the Haleon
Group for all Tax Periods (including, for the avoidance of doubt, the Tax Returns of GSKCHHL for any Straddle Periods), excluding any: 

  

	 	(A)	 US State Joint Tax Returns; 

 

	 	(B)	 Tax Returns for PFCHHL for any Straddle Period; and 

 

	 	(C)	 any Tax Returns the preparation of which GSK is responsible for pursuant to clause 15.2 (if any).

  

	13.4	 GSK shall prepare (or shall procure that there is prepared): 

 

	 	(A)	 the Tax Returns for all members of the GSK Group for all Tax Periods (excluding any Tax Returns the preparation
of which Haleon is responsible for pursuant to clause 15.2 (if any)); and 

  

	 	(B)	 any US State Joint Tax Returns. 

 

	13.5	 Pfizer shall prepare (or shall procure that there is prepared): 

 

	 	(A)	 the Tax Returns for all members of the Pfizer Group for all Tax Periods; and 

 

	 	(B)	 the Tax Returns for PFCHHL for any Straddle Period. 

 

	13.6	 Pfizer shall continue to act as the Partnership Representative (as defined in the Cosmos SCA) for all Tax
Periods of JVCo that begin prior to Completion and, in its capacity as such, shall have all rights and obligations that it would have under the Cosmos SCA (had it remained in effect and had references to “GSK” and “GSK’s
Group” therein been references to “Haleon” and “Haleon Group”). 

 Right to review and comment (Tax Returns
prepared by Haleon) 
  

	13.7	 Haleon shall: 

  

	 	(A)	 submit to GSK: 

  

	 	(i)	 each Tax Return of GSKCHHL for any Straddle Period; and 

 

	 	(ii)	 each such Tax Return referred to in clause 13.3 as relates to a matter for which GSK would reasonably be
expected to be liable to Haleon under clause 2.1; and 

  

	 	(B)	 submit to Pfizer each such Tax Return referred to in clause 13.3 as relates to a matter for which Pfizer
would reasonably be expected to be liable to Haleon under clause 3.1, 

  
 40 

 in draft form at least 15 days before the applicable Filing Date (or, in the case of an
Income Tax Return, at least 30 days before that Filing Date). 
  

	13.8	 Haleon shall give GSK and/or Pfizer (as the case may be) an opportunity to make comments on the applicable Tax
Returns as mentioned in clause 13.7. Haleon shall procure that all reasonable written comments of GSK which relate to any matter for which a GSK Group Company may be liable, and/or (as applicable) all reasonable written comments of Pfizer
which relate to any matter for which a Pfizer Group Company may be liable, that are (in either case) received at least 5 days before the Filing Date (or, in the case of an Income Tax Return, at least 15 days before the Filing Date) are properly
reflected in the relevant Tax Return and that Tax Return is submitted on a timely basis to the appropriate Tax Authority; provided that Haleon shall not be obliged to procure that a Haleon Group Company takes any such action as is mentioned in this
clause 13.8 in relation to a Tax Return that is not, to the best of that Haleon Group Company’s knowledge, correct and complete. 

  

	13.9	 In the event that the comments of Haleon, GSK and Pfizer with regard to any Tax Return as is mentioned in
clause 13.7 conflict, the affected Parties shall consult with each other in good faith to attempt to reach a common view. If such agreement cannot be reached, the comments of the Party which (together with its Group) would reasonably expect
to bear the greater burden of the Tax in relation to the matter in question (including, for the avoidance of doubt, as a result of the indemnification provisions in this Deed) shall prevail; provided that Haleon shall not be obliged to procure that
a Haleon Group Company takes any such action as is mentioned in this clause 13.9 in relation to a Tax Return that is not, to the best of that member’s knowledge, correct and complete. 

Right to review and comment (Tax Returns prepared by GSK) 
  

	13.10	 GSK shall submit to Haleon: 

 

	 	(A)	 each such Tax Return referred to in clause 13.4(A) as relates to a matter for which Haleon would
reasonably be expected to be liable to GSK under clause 5.1 in draft form at least 15 days before the applicable Filing Date (or, in the case of an Income Tax Return, at least 30 days before that Filing Date); and 

 

	 	(B)	 each such Tax Return referred to in clause 13.4(B) at least 5 Business Days before the applicable Filing
Date. 

  

	13.11	 GSK shall give Haleon an opportunity to make comments on the Tax Returns as mentioned in clause 13.10.
GSK shall procure that all reasonable written comments of Haleon which relate to any matter for which a Haleon Group Company may be liable received at least 5 days before the Filing Date (or, in the case of an Income Tax Return, at least 15 days
before the Filing Date or, in the case of a US State Joint Tax Return, at least 2 Business Days before the Filing Date) are properly reflected in the relevant Tax Return and that Tax Return is submitted on a timely basis to the appropriate Tax
Authority; provided that GSK shall not be obliged to procure that a GSK Group Company takes any such action as is mentioned in this clause 13.11 in relation to a Tax Return that is not, to the best of that GSK Group Company’s knowledge,
correct and complete. 

  
 41 

 Right to review and comment (Tax Returns prepared by Pfizer) 

 

	13.12	 Where a Tax Return of a member of the Pfizer Group relates to a matter for which Haleon would reasonably be
expected to be liable to Pfizer under clause 5.3, Pfizer shall provide Haleon with a written summary of such matters in such detail as is reasonable in the circumstances (including, without limitation, an explanation as to how they are
reflected in the applicable Tax Return), at least 15 days before the applicable Filing Date (or, in the case of an Income Tax Return, at least 30 days before that Filing Date). 

 

	13.13	 Pfizer shall give Haleon an opportunity to make comments on the approach to be taken in the Tax Returns to the
matters mentioned in clause 13.12. Pfizer shall procure that all reasonable written comments of Haleon which relate to any matter for which a Haleon Group Company may be liable received at least 5 days before the Filing Date (or, in the
case of an Income Tax Return, at least 15 days before the Filing Date) are properly reflected in the relevant Tax Return and that Tax Return is submitted on a timely basis to the appropriate Tax Authority; provided that Pfizer shall not be obliged
to procure that a Pfizer Group Company takes any such action as is mentioned in clause 13.13 in relation to a Tax Return that is not, to the best of that Pfizer Group Company’s knowledge, correct and complete. 

General 
  

	13.14	 [Without prejudice to the rights and obligations of the Parties pursuant to clause 12 and clause
13.1 to clause 13.12 (which shall apply in priority), each of GSK and Pfizer agrees that if following Demerger Completion it (or any member of its Group) intends to make any non-ordinary course
formal or informal clearance application to any Tax Authority regarding the Indirect CGT treatment of the Separation Transaction or the Reorganisation or (in each case) any part thereof (each, a “Post-Demerger Completion
Clearance”), it shall (except where such Post-Demerger Completion Clearance could not reasonably be expected to be material to any Haleon Group Company) notify Haleon in writing of its intention to make such Post-Demerger Completion
Clearance and keep Haleon reasonably informed of all matters pertaining to the Post-Demerger Completion Clearance, including providing Haleon with copies of all material correspondence, documents and other information, in each case pertaining
thereto, a reasonable period of time prior to submission of the same to the relevant Tax Authority. For the avoidance of doubt, the preparation and submission of any Post-Demerger Completion Clearance, and any related correspondence, document or
other information, by GSK or Pfizer, and the review thereof by Haleon, shall be matters in respect of which clause 13.14 applies such that the Parties may request access, information and/or assistance from the other Parties in respect
thereof.] 

  

	13.15	 Each of GSK, Pfizer and Haleon shall (and shall procure, respectively, that the GSK Group Companies, Pfizer
Group Companies and Haleon Group Companies shall) on reasonable written request, afford such access to their books, accounts and records (including any copies of legal or tax advice sought from third party advisers) and such other assistance as is
proportionate and reasonably required to enable each other Party to exercise its rights and fulfil its obligations under this clause 13 or clause 15.2 (including, for the avoidance of doubt, information necessary to prepare and file
Forms 5471 and/or 

  
 42 

	 	
to compute any required inclusions under Section 951(a) or 951A(a) or the passive foreign investment company (“PFIC”) rules of Sections 1291 to 1298, and including in connection
with any Tax Authority Claim) provided that no party shall be required to provide information or documents if such action could reasonably be expected to result in the waiver of privilege or to be commercially detrimental. Each of GSK, Pfizer and
Haleon shall use all reasonable endeavours to ensure such access is provided within 10 Business Days from receipt of a written request. Notwithstanding anything else in this provision to the contrary, (i) each of the Parties is responsible for
its own Tax reporting, (ii) the Haleon Group shall not be required to maintain its accounts according to U.S. Tax accounting principles; and (iii) any information provided to a Party pursuant to clause 13.15 shall be used solely for
income and franchise Tax, and financial reporting purposes and will not be disclosed to any person for any other purpose. 

  

	13.16	 Where one Party (the “Requesting Party”) makes any requests of another Party (the
“Requested Party”) under clause 13.15, the first £150,000 of Costs to meet those requests as are incurred in any one calendar year shall be borne by the Requested Party, with the Requesting Party bearing any Cost in
excess of such amount.

   

	13.17	 Each of GSK, Pfizer and Haleon shall (and shall procure, respectively, that the GSK Group Companies, Pfizer
Group Companies and Haleon Group Companies shall) retain, for at least 6 years from Demerger Completion, such books, accounts and records (including any copies of legal or tax advice sought from third party advisers) as might reasonably be expected
to be required by each other Party or any member of their Group (in each case) to ascertain its Tax position or that might reasonably be required for any of the purposes referred to in clause 13.13. 

 

	13.18	 Nothing done by or at the request of Haleon pursuant to this clause 13 shall in any respect restrict or
reduce any rights that: 

  

	 	(A)	 GSK may have to make a claim against Haleon under this Deed in respect of any such GSK Tax Liability as is
mentioned in clause 5.1; or 

  

	 	(B)	 Pfizer may have to make a claim against Haleon under this Deed in respect of any such Pfizer Tax Liability as
is mentioned in clause 5.3. 

  

	13.19	 Nothing done by or at the request of GSK or Pfizer pursuant to this clause 13 shall in any respect
restrict or reduce any rights that Haleon may have to make a claim against GSK under clause 2 or Pfizer under clause 3. 

  

	13.20	 If a GSK Group Company or Pfizer Group Company comes into possession of any notice, letter or other document
(by or on behalf of any Tax Authority or otherwise) which is addressed to, or otherwise solely relates to the Tax affairs of a Haleon Group Company, GSK or Pfizer (as applicable) shall, or shall procure, that such notice, letter or document is sent
as soon as practicably possible to the relevant Haleon Group Company. 

  

	13.21	 If a Haleon Group Company comes into possession of any notice, letter or other document (by or on behalf of any
Tax Authority or otherwise) which is addressed to, or 

  
 43 

	 	
otherwise solely relates to the Tax affairs of a GSK Group Company or a Pfizer Group Company, Haleon shall, or shall procure, that such notice, letter or document is sent as soon as practicably
possible to the relevant GSK Group Company or Pfizer Group Company. 

  

	13.22	 The Parties agree and acknowledge that notwithstanding clause 14.1 of the Cosmos SCA, the provisions of clause
11.11 of the Cosmos SCA shall not continue after termination of the Cosmos SCA and, instead, this clause 13 shall apply. 

 No
extension of Tax Authority time limits 
  

	13.23	 Haleon shall not, and shall procure that each Haleon Group Company shall not, agree with any Tax Authority to
waive or extend any Relevant Time Limit if such action concerns any Purchaser Parent Indemnified Taxes (as defined in the Cosmos SAPA) or any Tax for which GSK may be liable under this Deed without GSK’s prior written consent (such consent not
with be unreasonably withheld or delayed). 

  

	13.24	 Haleon shall not, and shall procure that each Haleon Group Company shall not, agree with any Tax Authority to
waive or extend any Relevant Time Limit if such action concerns any Seller Indemnified Taxes (as defined in the Cosmos SAPA) or any Tax for which Pfizer may be liable under this Deed without Pfizer’s prior written consent (such consent not with
be unreasonably withheld or delayed). 

 Disclaimer of elections 

 

	13.25	 GSK shall procure that (except where requested in writing by Haleon or required by Law) after Demerger
Completion no GSK Group Company: 

  

	 	(A)	 amends, withdraws or disclaims any election or claim made before Demerger Completion; or 

 

	 	(B)	 disclaims any allowance or Relief claimed before Demerger Completion, 

in each case, which is reasonably likely to affect the liability to, or the right to repayment of, Tax of a Haleon Group Company. 

 

	13.26	 Pfizer shall procure that (except where requested in writing by Haleon or required by Law) after Demerger
Completion no Pfizer Group Company: 

  

	 	(A)	 amends, withdraws or disclaims any election or claim made before Demerger Completion; or 

 

	 	(B)	 disclaims any allowance or Relief claimed before Demerger Completion, 

in each case, which is reasonably likely to affect the liability to, or the right to repayment of, Tax of a Haleon Group Company. 

  
 44 

	13.27	 Haleon shall procure that (except where requested in writing by GSK or required by Law) after Demerger
Completion no Haleon Group Company: 

  

	 	(A)	 amends, withdraws or disclaims any election or claim made before Demerger Completion; or 

 

	 	(B)	 disclaims any allowance or Relief claimed before Demerger Completion, 

in each case, which is reasonably likely to affect the liability to, or the right to repayment of, Tax of a GSK Group Company. 

 

	13.28	 Haleon shall procure that (except where requested in writing by Pfizer or required by Law) after Demerger
Completion no Haleon Group Company: 

  

	 	(A)	 amends, withdraws or disclaims any election or claim made before Demerger Completion; or 

	 	

	 	(B)	 disclaims any allowance or Relief claimed before Demerger Completion, 

in each case, which is reasonably likely to affect the liability to, or the right to repayment of, Tax of a Pfizer Group Company. 

 

	14.	 Transfer Pricing 

 

	14.1	 This clause 14 shall not apply in respect of a liability to Tax as a result of a Transfer Pricing
Adjustment to the extent that the same falls within any of the circumstances mentioned in clause 4.1(L) or to the extent that any rights or liabilities in respect of the same have accrued under Clause 6 (Transfer Pricing) of the Cosmos SCA.

  

	14.2	 If and to the extent that GSK (or any person connected with GSK) or Pfizer (or any person connected with
Pfizer) has or may have an increased liability to Tax as a result of a Transfer Pricing Adjustment in respect of which Haleon or any member of Haleon’s Group is able to claim a Compensating Adjustment, then: 

 

	 	(A)	 Haleon shall, or shall procure that the relevant member of Haleon’s Group shall, if GSK or Pfizer (as the
case may be) so requests, use reasonable commercial efforts to claim the Compensating Adjustment; and 

  

	 	(B)	 if Haleon (or the relevant member of Haleon’s Group) receives or obtains a payment or other Relief which
comprises or would not have arisen but for such Compensating Adjustment, then (as applicable) the amount of the payment received or the amount that the person concerned will save by virtue of the Relief (less any Costs of recovering or obtaining
such payment or other Relief and any Tax actually suffered thereon) shall be paid by Haleon (or the relevant member of Haleon’s Group) by way of Balancing Payment to GSK (or the relevant person connected with GSK) or [Pfizer (or the relevant
person connected with Pfizer)], as the case may be. 

  
 45 

	14.3	 If and to the extent that Haleon (or any person connected with Haleon) has or may have an increased liability
to Tax as a result of a Transfer Pricing Adjustment in respect of which GSK (or any member of GSK’s Group) or Pfizer (or any member of Pfizer’s Group) is able to claim a Compensating Adjustment, then: 

 

	 	(A)	 as applicable, GSK shall (or shall procure that the relevant member of GSK’s Group shall) or Pfizer shall
(or shall procure that the relevant member of GSK’s Group shall), if Haleon so requests, use reasonable commercial efforts to claim the Compensating Adjustment; and 

 

	 	(B)	 if, as applicable, GSK (or a member of the GSK Group) or Pfizer (or a member of the Pfizer Group) receives or
obtains a payment or other Relief which comprises or would not have arisen but for such Compensating Adjustment, then the lesser of the amount received or the amount that the person concerned will save by virtue of the payment or other Relief (less
any Costs of recovering or obtaining such payment or other Relief and any Tax actually suffered thereon) shall be paid by, as applicable, GSK (or the relevant member of GSK’s Group) or [Pfizer (or the relevant member of Pfizer’s Group) by
way of Balancing Payment to Haleon (or the relevant person connected with Haleon)]. 

  

	14.4	 A Balancing Payment to be made under clause 14.2 or clause 14.3 shall be made within 10
Business Days from the date on which notice setting out the amount due is received by the person that would be liable to make the Balancing Payment under clause 14.1 or clause 14.3 as applicable, or (if later): 

 

	 	(A)	 in a case where the Relief referred to in clause 14.2(B) or clause 14.3(B) (as applicable) is a
right to repayment of any Tax, 10 Business Days after such repayment is received; and 

  

	 	(B)	 in a case where the Relief referred to in clause 14.2(B) or clause 14.3(B) (as applicable) is not
a right to repayment of any Tax, the date which is 10 Business Days prior to the last day on which the person claiming the Compensating Adjustment would have been due to make an actual payment of Tax had it not been for such Relief.

  

	14.5	 In this clause 14 only, a person is “connected” with another person if they are
connected with that other person for the purposes of the transfer pricing legislation in force in the territory in which a Transfer Pricing Adjustment is imposed, provided that Haleon and the Haleon Group shall be deemed not to be
“connected” with either GSK or Pfizer. 

  

	15.	 Tax Consolidations 

 

	15.1	 To the extent that the same has not been done before Demerger Completion, GSK and Haleon shall (and shall
procure that the members of their respective Groups shall) procure that any Haleon Group Company be removed from any GSK Tax Consolidation and any GSK Group Company be removed from any Haleon Tax Consolidation, with effect from, to the extent
permitted by applicable Law, no later than Demerger Completion. GSK and Haleon shall co-operate with each other in respect of, and shall each keep each

  
 46 

	 	
other fully informed of, all matters pertaining thereto, shall share copies of all material correspondence with any Tax Authority pertaining thereto and each shall notify the other as soon as
reasonably practicable when such removal has become effective. 

  

	15.2	 For any Tax Periods (or parts of Tax Periods) up to and including the Tax Period (or part Tax Periods) in which
the Tax Consolidations are split as mentioned in clause 15.1, GSK and Haleon shall (and shall procure that the members of their respective Groups shall) prepare and submit all Tax Returns and discharge Tax liabilities of each GSK Tax
Consolidation and Haleon Tax Consolidation (as applicable) according to their normal and ordinary course practice. 

  

	15.3	 In respect of any period in which a Haleon Group Company is or has been a member of a GSK Tax Consolidation,
and unless the same is inconsistent with normal and ordinary course practice, Haleon shall procure that the relevant Haleon Group Company pays to the appropriate GSK Group Company, an amount in respect of any liability to Tax which the relevant GSK
Group Company is primarily responsible for paying or discharging on behalf of, or in respect of Income, Profits or Gains of, or Events undertaken by, that Haleon Group Company except to the extent that: 

 

	 	(A)	 such contribution has already been made prior to Demerger Completion; or 

 

	 	(B)	 Haleon would (ignoring any limitations on liability under clause 4.8) be entitled to make a valid claim
under clause 2.1 of this Deed or Section 6.5(d)(ii) of the Cosmos SAPA in respect of such payment (if it were a liability to Tax of a Haleon Group Company) and, for the avoidance of doubt, no such claim shall be made by Haleon to the
extent that such Tax or payment is borne and discharged by a GSK Group Company. 

  

	15.4	 In respect of any period in which a GSK Group Company is or has been a member of a Haleon Tax Consolidation,
and unless the same is inconsistent with normal and ordinary course practice, GSK shall procure that the relevant GSK Group Company pays to the appropriate Haleon Group Company, an amount in respect of any liability to Tax which the relevant Haleon
Group Company is primarily responsible for paying or discharging on behalf of, or in respect of Income, Profits or Gains of, or Events undertaken by, that GSK Group Company except to the extent that: 

 

	 	(A)	 such contribution has already been made prior to Demerger Completion; or 

 

	 	(B)	 GSK would (ignoring any limitations on liability under clause 6.4) be entitled to make a valid claim
under clause 5.1 of this Deed (if it were a liability to Tax of a GSK Group Company) and, for the avoidance of doubt, no such claim shall be made by GSK to the extent that such Tax or payment is borne and discharged by a Haleon Group Company.

  

	15.5	 Haleon shall, or shall procure that each Haleon Group Company which is included in a US State Joint Tax Return
shall, pay to GSK (or the relevant GSK Group Company which files the US State Joint Tax Return in question) an amount equal to A multiplied by B, where: 

  

	 	(A)	 “A” is equal to the relevant Haleon Group Company’s separate taxable income divided by
the sum of the separate taxable income of all members with positive separate taxable income; and 

  
 47 

	 	(B)	 “B” is equal to the total amount of Tax due, as shown on the US State Joint Tax Return,

 for these purposes the term “separate taxable income” having the meaning given in US Treas. Reg. Section 1.1502-12 (or, as applicable, any similar provision of state or local laws or regulations). Payment shall not be required under this clause 15.5 to the extent that: 

 

	 	(i)	 such payment has already been made prior to Demerger Completion; or 

 

	 	(ii)	 Haleon would (ignoring any limitations on liability under clause 4.8) be entitled to make a valid claim
under clause 2.1 of this Deed or Section 6.5(d)(ii) of the Cosmos SAPA in respect of such payment (if it were a liability to Tax of a Haleon Group Company) and, for the avoidance of doubt, no such claim shall be made by Haleon to the
extent that such Tax or payment is borne and discharged by a GSK Group Company. 

  

	15.6	 Payments under clause 15.3 and clause 15.4 shall be made 10 Business Days before the date or
dates on which the Tax is due and payable to the appropriate Tax Authority for that period or otherwise on such date is consistent with normal and ordinary course practice. Payments under clause 15.5 shall be made on or before the date which
falls 20 Business Days after the date or dates on which the Tax is due and payable to the appropriate Tax Authority. 

  

	15.7	 Without prejudice to the remainder of this clause 15 or clause 13: 

 

	 	(A)	 GSK shall be responsible for the conducting correspondence with the applicable Tax Authority in respect of:

  

	 	(i)	 each GSK Tax Consolidation mentioned in clause 15.1; and 

 

	 	(ii)	 each US State Joint Tax Return, 

following Demerger Completion; and 
  

	 	(B)	 Haleon shall be responsible for the conducting correspondence with the applicable Tax Authority for each Haleon
Tax Consolidation mentioned in clause 15.1, 

 provided in all cases that GSK and Haleon shall (or shall procure
that the members of their respective Groups shall) keep each other fully informed of any matter relating thereto that affects a member of the other Group, including promptly sharing all related correspondence received from a Tax Authority (or
appropriate portions thereof). GSK and Haleon shall co-operate in good faith in order to agree how to resolve any such matter and shall (and shall procure that the members of their Groups shall) take into
account any reasonable comments of the other Group in relation thereto. 

  
 48 

	16.	 Post-Demerger Completion Conduct 

 

	16.1	 Haleon shall not, and shall procure that each member of the Haleon Group shall not, undertake or effect any
action described in Part A of Schedule 1 save that Haleon shall be permitted to take any action outlined in paragraph 3 in Part A of Schedule 1 provided that, prior to taking such action, Haleon shall have obtained
(i) a tax opinion in form and substance reasonably satisfactory to GSK, (ii) a private letter ruling, including any required supplemental ruling, from the U.S. Internal Revenue Service in form and substance reasonably satisfactory to GSK,
or (iii) GSK shall have waived in writing the requirement to obtain such tax opinion or private letter ruling. 

   

	16.2	 

  

	 	(A)	 Haleon shall not, and shall procure that each member of the Haleon Group shall not, undertake or effect any
action outlined in paragraph 2 to paragraph 7 (inclusive) in Part B of Schedule 1 save that Haleon shall be permitted to take any such action provided that, prior to taking such action, Haleon shall have obtained
(i) a tax opinion in form and substance reasonably satisfactory to Pfizer, (ii) a private letter ruling, including any required supplemental ruling, from the U.S. Internal Revenue Service in form and substance reasonably satisfactory to
Pfizer, or (iii) Pfizer shall have waived in writing the requirement to obtain such tax opinion or private letter ruling. For the avoidance of doubt, paragraph 3 in Part B of Schedule 1 is a representation as
to current plan or intention only and not a restriction on any actions of Haleon or any member of the Haleon Group. 

  

	 	(B)	 Prior to taking any action outlined in paragraph 8 in Part B of Schedule 1, Haleon shall
use commercially reasonable efforts to consult with Pfizer prior to such action to the extent it is not described in Schedule 2, provided further that nothing in this clause 16.2 shall interfere with the timing of any such
transaction or Haleon’s ability to pursue any such transaction in the manner and according to the schedule determined by Haleon in its sole discretion. 

  

	16.3	 [The first [***] of Costs which are incurred by the Haleon Group [in any one calendar year] in respect of the
preparation and submission of any incremental Tax Returns or the provision of information or other similar administrative requirements in each case arising directly as a consequence of any of the matters listed in Part A of Schedule 1
shall be borne by such Haleon Group Companies, with GSK bearing any Cost in excess of such amount.] 

  

	16.4	 [The first [***] of Costs which are incurred by the Haleon Group [in any one calendar year] in respect of the
preparation and submission of any incremental Tax Returns or the provision of information or other similar administrative requirements in each case arising directly as a consequence of any of the matters listed in Part B of Schedule 1
shall be borne by such Haleon Group Companies, with Pfizer bearing any Cost in excess of such amount.]] 

  
 49 

	16.5	 Each of GSK and Haleon will co-operate and liaise with each other to
agree appropriate procedures and controls to be established within their respective Groups from Demerger Completion with the purpose of identifying, before they are made: 

 

	 	(A)	 any payments or transfers of money’s worth: 

 

	 	(i)	 by any GSK Group Company to any Haleon Group Company, any shareholder in Haleon or any shareholder in GSK or
any other GSK Group Company; or 

  

	 	(ii)	 by any Haleon Group Company to any GSK Group Company, any shareholder in GSK or any shareholder in Haleon or
any other Haleon Group Company; or 

  

	 	(B)	 any assumptions of liability: 

 

	 	(i)	 by any GSK Group Company from any Haleon Group Company, any shareholder in Haleon or any shareholder in GSK or
any other GSK Group Company; or 

  

	 	(ii)	 by any Haleon Group Company from any GSK Group Company, any shareholder in GSK or any shareholder in Haleon or
any other Haleon Group Company, 

 which in any such case may potentially constitute a Chargeable Payment in relation to
the Demerger and will co-operate and liaise with each other in relation thereto, including by obtaining appropriate professional advice in relation to such payments, transfers or assumptions and, where
appropriate, by seeking advance clearance from HM Revenue & Customs (“HMRC”) to ensure that such payments, transfers or assumptions do not constitute Chargeable Payments, provided in each case that if a Haleon Group Company
or a GSK Group Company intends to take any action which may potentially constitute a Chargeable Payment but which Haleon or GSK (respectively) reasonably believes HMRC have cleared as not being a chargeable payment pursuant to a prior advance
clearance, Haleon or GSK (respectively) shall not be required to liaise with the other in relation thereto prior to taking the relevant action.  
  

	17.	 Project Cosmos 

 

	17.1	 The Parties agree that, in view of GSKCHHL and JVCo ceasing to be controlled by GSK as a result of the
Demerger, it is necessary to amend the Cosmos SAPA as follows. 

 Definitions in the Cosmos SAPA 

 

	17.2	 The Parties agree to amend Section 1.1 (Definitions) of the Cosmos SAPA by adding the following
definitions, each to be effective as at Demerger Completion: 

 “Argentina Manufacturing Business”
shall have the meaning set forth in the Argentina NEBA; 

  
 50 

 “Argentina NEBA” shall have the meaning set forth in the
SCIA; 
 “Demerger Completion” shall have the meaning set forth in the SCIA; 

“Gold Tax Covenant” shall have the meaning given to the term “Tax Covenant” as set forth in the SCIA; 

“Gold Transaction Documents” shall have the meaning given to the term “Transaction Documents” as set
forth in the SCIA; 
 “Purchaser Parent Indemnifiable Tax Return” shall have the meaning set forth in
Section 6.5(a)(iiA);  
 “Purchaser
Pre-Closing Separate Tax Return” shall mean any Tax Return of the Purchaser or any of its Subsidiaries or their Subsidiaries (excluding the Conveyed Subsidiaries and their Subsidiaries) for any
Pre-Closing Tax Period other than any Straddle Period; 
 “Purchaser Straddle Period
Tax Return” shall mean any Tax Return of the Purchaser or any of its Subsidiaries or their Subsidiaries (excluding the Conveyed Subsidiaries and their Subsidiaries) for a Straddle Period;  

“SCIA” shall mean the Separation Co-operation and Implementation Agreement
dated [●] and entered into between GSK, Pfizer, Haleon, JVCo, GSKCHHL and PFCHHL; 
 Preparation and Filing of Tax
Returns 
  

	17.3	 The Parties agree to amend the terms of Section 6.5(a) (Preparation and Filing of Tax Returns) of the
Cosmos SAPA as follows, each such amendment to be effective as at Demerger Completion. 

  

	 	(A)	 An additional Section 6.5(a)(iiA) shall be added immediately beneath Section 6.5(a)(ii) as
follows. 

 “ (iiA)    Any Tax Return (or relevant portion thereof) of Purchaser or any
of its Affiliates (including the Conveyed Subsidiaries and their Subsidiaries after Closing) that includes or reflects (or is required to include or reflect) Purchaser Parent Indemnified Taxes for which Purchaser Parent would reasonably be expected
to be liable pursuant to this Agreement (any such Tax Return, or relevant portion thereof, a “Purchaser Parent Indemnifiable Tax Return”) shall be delivered by Purchaser to Purchaser Parent for its review, comment and
approval, at least thirty (30) days, in the case of Income Tax Returns, and fifteen (15) days, in the case of non-Income Tax Returns prior to the due date for the filing
of such Purchaser Parent Indemnifiable Tax Return (taking into account any  

  
 51 

 
applicable extensions), a statement setting forth the amount of Tax for which Purchaser Parent is responsible pursuant to
Section 6.5(d)(ii) and a copy of such Purchaser Parent Indemnifiable Tax Return, together with any additional information that Purchaser Parent may reasonably request. Purchaser Parent shall have
the right to review such Purchaser Parent Indemnifiable Tax Return, statement and any additional information prior to the filing of such Purchaser Parent Indemnifiable Tax Return, and Purchaser shall reflect on such Purchaser Parent Indemnifiable
Tax Return, as filed, any reasonable comments submitted by Purchaser Parent at least fifteen (15) days, in the case of Income Tax Returns, and five (5) days, in the case of
non-Income Tax Returns, prior to the due date of such Purchaser Parent Indemnifiable Tax Return (taking into account any applicable extensions) to the extent any such comments would not be reasonably expected
to result in Purchaser or its Subsidiaries being liable for any material Taxes that are not Purchaser Parent Indemnified Taxes for which Purchaser Parent is liable pursuant to this Agreement. Purchaser Parent shall, at least three
(3) days before any Tax Return that Purchaser is obligated to file is due, pay Purchaser (or a Subsidiary of Purchaser designated by Purchaser) the amount of Taxes shown as due thereon to the extent any such Taxes are Purchaser
Parent Indemnified Taxes.”. 
  

	 	(B)	 An additional Section 6.5(a)(iiiA) shall be added immediately beneath Section 6.5(a)(iii) as follows.

 “ (iiiA)    Neither Purchaser nor any of its Affiliates (including the Conveyed
Subsidiaries and their Subsidiaries) shall amend or revoke any Purchaser Pre-Closing Separate Tax Return or Purchaser Straddle Period Tax Return, or agree to any waiver or extension of the statute of
limitations, relating to Taxes with respect to Purchaser or any of its Subsidiaries (or any Subsidiary thereof) for a Pre-Closing Tax Period, without the prior written consent of Purchaser Parent (which
consent shall not be unreasonably withheld, conditioned or delayed). Upon Purchaser Parent’s reasonable request, at the sole cost and expense of Purchaser Parent, Purchaser shall file, or cause to be filed, any amended Purchaser Pre-Closing Separate Tax Return in the form and substance reasonably requested by Purchaser Parent and in a manner consistent with the past practices of the applicable Subsidiary of Purchaser (or its Subsidiary)
(other than as required as a result of the Purchaser Internal Restructurings), except to the extent that there is not at least a “more likely than not” basis for a position under applicable Law, provided that Purchaser
shall not be required to file any such amended Tax Return to the extent it would reasonably be expected to result in Purchaser or its Subsidiaries being liable for any material Taxes that are not Purchaser Parent Indemnified Taxes for which
Purchaser Parent is liable pursuant to this Agreement or otherwise result in commercial consequences that materially and adversely affect Purchaser.”. 

Tax indemnification provisions under the Cosmos SAPA 
  

	17.4	 The Parties agree to amend the terms of Section 6.5(d) (Tax Indemnification) of the Cosmos SAPA as
follows, such amendment to be effective as at Demerger Completion. 

  
 52 

	 	(A)	 An additional provisos shall be added to the existing Section 6.5(d)(ii) as marked below.

 “...; provided that Purchaser Parent shall not be required to indemnify or hold
harmless any Purchaser Tax Indemnified Party from and against any liability for (AA) Taxes attributable to any action taken after Demerger Completion by Purchaser, or any of its Affiliates (including the Conveyed Subsidiaries and their
Subsidiaries), or any transferee of Purchaser or any of its Affiliates (including the Conveyed Subsidiaries and their Subsidiaries), other than any such action that (1) is in the ordinary course of business,
(2) is expressly permitted or contemplated by this Agreement, or (3) is required to be taken in order to comply with applicable Law or as a result of a change in applicable
Law, (A) Taxes attributable to any action taken after Closing by Seller Parent or any of its Affiliates...”. 

“...or (D) Taxes for which Seller Parent is responsible under
Section 6.5(d)(i), or (E) any Taxes of Argentina S.A. in respect of the Argentina Manufacturing Business to the extent arising on or after, or referable to any period on or after, the
“Commencement Date” (as that term is defined in the Argentina NEBA).”. 
 Conduct of Tax Authority Claims relevant to the
Cosmos SAPA 
  

	17.5	 The Parties agree to amend the terms of Section 6.5(e) (Tax Contests) of the Cosmos SAPA as follows, such
amendments to be effective as at Demerger Completion. 

  

	 	(A)	 A new Section shall be inserted immediately beneath the current Section 6.5(e)(ii) as follows.

 “(iiA)    With respect to any Tax Claim within
Section 6.5(e)(ii), Seller Parent shall also (x) notify Purchaser Parent of any material development with respect to any such Tax Proceeding, (y) provide Purchaser Parent with copies of any
material documents submitted in connection with such Tax Proceeding and (z) notify Purchaser Parent regarding any material action to be taken by Seller Parent with respect to such Tax Proceeding (and take Purchaser Parent’s
comments into consideration in good faith), in each case, solely to the extent relating to matters or aspects of such Tax Proceeding that would reasonably be expected to materially increase any Purchaser Parent Indemnified Taxes or any liability of
the Purchaser Parent under the Gold Tax Covenant.”.  
  

	 	(B)	 A new Section shall be inserted immediately beneath Section 6.5(e)(iiA) (as inserted by clause
17.5(A)) as follows. 

 “(iiB)    With respect to any Tax Claim relating to
Purchaser or any Subsidiary thereof (other than the Conveyed Subsidiaries and their Subsidiaries) for any Tax period ending on or before the Closing Date, to Purchaser Parent (or any Subsidiary thereof) for any taxable period, or with respect to a
Purchaser Parent Combined Tax Return, Purchaser Parent shall control all Tax Proceedings and shall make all decisions taken in connection with such Tax Proceeding (including  

  
 53 

 
selection of counsel), and, without limiting the foregoing, may pursue or forego any and all administrative appeals, proceedings, hearings and conferences with any Taxing Authority with
respect thereto, and may either pay the applicable Tax Liability and sue for a refund or contest the Tax Claim; provided, that in the case of such Tax Proceeding with respect to a Tax Return of Purchaser or a Subsidiary thereof
(other than a Conveyed Subsidiary or Subsidiary thereof) other than a Purchaser Parent Combined Tax Return, Purchaser Parent shall not settle such Tax Proceeding if doing so would reasonably be expected to materially increase the Tax Liability of
Purchaser or its Subsidiaries (including the Conveyed Subsidiaries and any Subsidiary thereof after the Closing), taking into account any indemnification for Tax Liabilities under this Agreement, without the prior written consent of Purchaser, which
consent shall not be unreasonably withheld, delayed or conditioned. In the case of any such Tax Proceeding with respect to Purchaser or a Subsidiary thereof (other than the Conveyed Subsidiaries and their Subsidiaries), Purchaser Parent shall
(x) notify Purchaser of any material development with respect to any such Tax Proceeding, (y) provide Purchaser with copies of any material documents submitted in connection with such Tax Proceeding and
(z) notify Purchaser regarding any material action to be taken by Purchaser Parent with respect to such Tax Proceeding (and take Purchaser’s comments into consideration in good faith), in each case, solely to the extent
relating to matters or aspects of such Tax Proceeding that would reasonably be expected to materially increase the Tax Liability of Purchaser or a Subsidiary thereof (other than the Conveyed Subsidiaries and their Subsidiaries) in a Post-Closing Tax
Period ”. 
  

	 	(C)	 A new Section shall be inserted immediately beneath the Section 6.5(e)(iiB) (as inserted by clause
17.5(B)) as follows. 

 “(iiC)    With respect to any Tax Claim within
Section 6.5(iiB), Purchaser Parent shall also (x) notify Seller Parent of any material development with respect to any such Tax Proceeding, (y) provide Seller Parent with copies of any
material documents submitted in connection with such Tax Proceeding and (z) notify Seller Parent regarding any material action to be taken by Purchaser Parent with respect to such Tax Proceeding (and take Seller Parent’s
comments into consideration in good faith), in each case, solely to the extent relating to matters or aspects of such Tax Proceeding that would reasonably be expected to materially increase any Seller Indemnified Taxes or any liability of the Seller
Parent under the Gold Tax Covenant.”.  
  

	 	(D)	 A new Section shall be inserted immediately beneath the current Section 6.5(e)(iii) as follows.

 “(iiiA)    Section 6.5(e)(iii) above shall apply in the case of any Tax Proceeding
relating to Taxes of Purchaser or its Subsidiaries (other than the Conveyed Subsidiaries (and their Subsidiaries)) for any Straddle Period, and for such purposes any reference to “Seller Parent” shall be replaced with a reference to
“Purchaser Parent.”. 

  
 54 

	 	(E)	 The existing Section 6.5(e)(iv) shall be amended as marked below. 

“Except as otherwise provided herein, Purchaser shall control all Tax Proceedings with respect to Purchaser and its
Subsidiaries (including the Conveyed Subsidiaries (and their Subsidiaries)) for any taxable period beginning after the Closing Date and any Tax Proceeding with respect to Purchaser or any of its Affiliates relating to
(x) any Seller Indemnifiable Tax Return or (y) any Purchaser Parent Indemnifiable Tax Return; provided that (in relation to a Seller
Indemnifiable Tax Return) Seller Parent or (in relation to a Purchaser Parent Indemnifiable Tax Return) Purchaser Parent, shall be deemed to be a Non-Controlling Party (with the
rights described in Section 6.5(e)(iii) or Section 6.5(e)(iiiA) as the case may be) with respect to any such Tax Proceeding if the resolution of any such Tax Proceeding would
reasonably be expected to materially increase the Tax Liability of a Purchaser or any of its Subsidiaries (including any Conveyed Subsidiary (or a Subsidiary thereof)) in a Pre-Closing Tax
Period or (as applicable) the amount of indemnification for which Seller Parent is responsible pursuant to Section 6.5(d)(i) or for which Purchaser Parent is responsible pursuant to
Section 6.5(d)(ii).”. 
  

	 	(F)	 The existing Section 6.5(e)(v) shall be amended by inserting “(or Purchaser Parent and its
Affiliates, as the case may be)” after the words “Seller Parent and its Affiliates” where they first appear in the provision. 

Other 
  

	17.6	 Neither GSK nor Pfizer shall be liable under Section 6.5(d) of the Cosmos SAPA in respect of an individual
claim for less than [***], but once the amount of any such claim has exceeded such sum, GSK or Pfizer (as applicable) shall be liable in respect of the full amount of such claim and not only the amount by which such sum is exceeded. For the purposes
of this clause 17.6, individual claims arising out of the same or substantially the same matters, facts or circumstances shall be aggregated so as to be treated as a single claim. 

 

	18.	 Anti-hybrid rules and interest restriction rules 

 

	18.1	 Subject to Clause 18.2, Clauses 7.1 to 7.5 of the Cosmos SCA and any relevant definitions shall be
treated as continuing to apply in respect of any period or part period prior to Demerger Completion as though those provisions of the Cosmos SCA (and any related definitions) had remained in effect, and as though references to “Company”
and “Company’s Group” therein were references to “Haleon” and “Haleon Group”, respectively, as defined in this Deed as the context demands. 

 

	18.2	 Pfizer shall have no liability in respect of any claim under Clauses 7.1 to 7.5 of the Cosmos SCA unless and
until the aggregate amount of Pfizer’s liability thereunder in the absence of this clause 18.2 would have exceeded [***], in which event Pfizer shall thereafter be liable for such amounts which exceed that [***] threshold (and not for
the full amount of such claim or claims) up to a total liability of Pfizer of [***]. 

  
 55 

	19.	 Miscellaneous 

 

	19.1	 Save where required to be made on an after-Tax basis (in which case
clause 1.2(O) shall apply), payments due to be made under this Deed shall be made free and clear of all deductions, withholdings, set-offs, or counterclaims whatsoever, except as may be required by Law.
If any deductions or withholdings are required by Law, the paying party shall be obliged to pay such sum as will, after such deduction, withholdings, set-off or counter-claim has been made, leave the receiving
party with the same amount as it would have been entitled to receive in the absence of any such requirement to make such deduction or withholding.  

  

	19.2	 Where any party to this Deed is required, as a result of clause 1.2(O) or clause 19.1 to increase
any payment it would otherwise be required to make, the additional amount payable as a result of clause 1.2(O) or clause 19.1 (as applicable) shall not exceed what it would have been had the recipient been resident for all Tax purposes
solely in its jurisdiction of incorporation (and not had a permanent establishment or other taxable presence in any other place). 

  

	19.3	 Any payment made by a Party under this Agreement shall (so far as legally permitted) be treated as an
adjustment to the consideration for the shares transferred pursuant to the Demerger Agreement or applicable Exchange Agreement to the extent of the payment. 

  

	19.4	 Where it is agreed or determined that an amount is payable by one Party to another in respect of any covenant,
balancing payment or indemnity given under this Deed, the SCIA, an Exchange Agreement or the Demerger Agreement, those Parties shall consult in good faith for a period of not less than 10 Business Days (or such longer or shorter period as the
affected Parties may agree, and without prejudice to clause 9 and clause 19.5) with a view to agreeing an acceptable arrangement for satisfying the obligation to pay the amount so claimed in an efficient manner that does not
prejudice the Parties’ or their Groups’ respective interests. Without limitation, and by way of example only, the Parties may consider directing that payments are not made by one Party to the other but instead are made by a subsidiary
within the paying Party’s Group to a subsidiary within the recipient Party’s Group. If the affected Parties fail to agree on any particular manner of payment during the course of such consultations (but not before), the Party which is
liable to make the payment shall make that payment in cash in accordance with the remaining terms of this Deed. 

  

	19.5	 [Unless otherwise agreed in writing between the Party obliged to make and the Party entitled to receive the
payment in question, payments under this Deed shall be made in Sterling. Where the underlying matter giving rise to a claim under this Deed comprises an amount which is or would not be in Sterling, the Sterling equivalent shall be determined based
on the Bloomberg BFIX rate in effect as of 3:00 pm (London time) two (2) Business Days preceding the date of the written notice given for such claim.] 

  

	19.6	 Payments due to be made under this Deed shall, if not paid within thirty (30) days of the due date, and
except to the extent the liability giving rise to the payment compensates the recipient for late payment by virtue of its extending to interest and penalties, carry interest at a rate of (i) two (2) per cent. above the base lending rate
from time to time of 

  
 56 

	 	
the Bank of England, or (ii) if such base lending rate is less than zero, at two (2) per cent. (the “Agreed Rate”) for the period from the date falling thirty
(30) days after the due date to the date of actual payment. 

  

	19.7	 This Deed is conditional on the passing of the Demerger Resolution and the Related Party Transactions
Resolution by GSK Shareholders at the GSK General Meeting (as all such terms are defined in the Demerger Agreement). 

  

	19.8	 Save for those provisions expressly stated to come into effect at a different time, this Deed shall come into
effect from Demerger Completion. 

  

	19.9	 The provisions of clauses [16] (Confidentiality), [22] (Notices), [25] (Assignment), [26] (Remedies and
Waivers), [27] (Variation), [30] (Invalidity), [32] (Counterparts), [33] (Language) and [35] (Agent for Service) of the SCIA shall apply for the purposes of this Deed as if set out herein in full mutatis mutandis. 

 

	20.	 Costs and Expenses 

 

	20.1	 Each Party agrees to the apportionment of Costs as set out in clause [19] [(Costs and Expenses)] of the SCIA.

  

	20.2	 In relation to any Costs not addressed by clause 20.1, except as otherwise set out in this Deed, the
Cosmos SHA or the SCIA, each Party shall pay its own Costs incurred in relation to the negotiation, preparation, execution and carrying into effect of this Deed. 

 

	21.	 Governing Law and Jurisdiction 

 

	21.1	 This Deed is to be governed by and construed in accordance with English law. Any matter, claim or dispute
arising out of or in connection with this Deed, whether contractual or non-contractual, is to be governed by and determined in accordance with English law. 

 

	21.2	 The courts of England are to have exclusive jurisdiction to settle any dispute arising out of or in connection
with this Deed. Any Proceedings shall be brought only in the courts of England. 

  

	21.3	 Each Party waives (and agrees not to raise) any objection, on the ground of forum non conveniens or on
any other ground, to the taking of proceedings in the courts of England. Each Party also agrees that a judgment against it in Proceedings brought in England shall be conclusive and binding upon it and may be enforced in any other jurisdiction.

  
 57 

 Schedule 1 

Post-Demerger Completion Conduct 

Part A 
  

	1	 At the time of Demerger Completion, neither Haleon nor any member of the Haleon Group shall have any current
plan or intention to: 

   

	 	(A)	 sell, dispose, or otherwise transfer any of the assets of the ATB Companies other than (i) in the ordinary
course of business, (ii) to another member of the Separate Affiliated Group of Haleon, (iii) cash paid to acquire assets from unrelated person in arm’s length transaction, or (iv) cash paid to effect a mandatory or optional
repayment of indebtedness of Haleon or any member of the Haleon Group. For these purposes, Haleon’s “Separate Affiliated Group” shall mean one or more chains of entities which are classified as corporations for U.S. federal
income tax purposes connected through share ownership with Haleon in which (i) Haleon owns directly, for U.S. federal income tax purposes, stock of at least one other member of the group (a) possessing at least 80 per cent. of the
voting power of the stock of such member and (b) having a value equal to at least 80 per cent. of the total value of the stock of such member and (ii) one or more members of the group own directly, for U.S. federal income tax
purposes, stock of each other member of the group (except Haleon) (a) possessing at least 80 per cent. of the voting power of the stock of such member and (b) having a value equal to at least 80 per cent. of the total value of
the stock of such member. For purposes of determining share ownership, the term “stock” does not include stock that (1) is not entitled to vote, (2) is limited and preferred as to dividends and does not participate in corporate
growth to any significant extent, (3) has redemption and liquidation rights that do not exceed the issue price of such stock (except for a reasonable redemption premium or liquidation premium), and (4) is not convertible into another class
of stock; 

  

	 	(B)	 sell, dispose, or otherwise transfer any equity interest in any of the ATB Companies; 

 

	 	(C)	 change the U.S. federal income tax classification of any of the ATB Companies, including through the issuance
of additional equity interests in any ATB Company that is a disregarded entity for U.S. federal income tax purposes to an entity other than its sole owner for U.S. federal income tax purposes; 

 

	 	(D)	 fail to continue the conduct of the significant management and operational activities of the ATB Companies with
employees of GlaxoSmithKline Consumer Healthcare (UK) Trading Limited and other ATB Companies and members of Haleon’s Separate Affiliated Group in a substantially similar manner as they were conducted during the five-year period preceding the
Demerger (taking into account the activities of (i) GlaxoSmithKline Caribbean Limited in the case of 

  
 58 

	 	
GlaxoSmithKline Panama S.A. (“GSK Panama”), GSK CH Caricam Sociedad de Responsabilidad Limitada, and GSK Consumer Healthcare Trinidad and Tobago Limited and
(ii) GlaxoSmithKline Pte Ltd. in the case of GlaxoSmithKline Consumer Healthcare Vietnam Company Limited); or 

  

	 	(E)	 adopt a plan or enter into any agreement to do any of the actions set forth in the foregoing paragraphs
(A) through (D) (any action described in clauses (A) through (E), a “Potential CH ATB Restructuring”). 

  

	2	 At the time of the Demerger Completion, neither Haleon nor any member of the Haleon Group shall have any
current plan or intention to: 

   

	 	(A)	 voluntarily merge, consolidate, liquidate, or dissolve (including for U.S. federal income tax purposes) Haleon,
GSKCHHL, JVCo, GlaxoSmithKline Consumer Healthcare Holdings (US) Inc. (“GSKCHH-US”), SmithKline Beecham Research Limited (“SBRL”), or Sterling Products International, Inc.
(“SPII”); 

  

	 	(B)	 convert Haleon, GSKCHHL, JVCo, GSKCHH-US, SBRL, or SPII into another
form of entity or to change its classification for U.S. federal income tax purposes; 

  

	 	(C)	 take any action that would result in the involuntary merger, liquidation, bankruptcy, dissolution, or winding
up of the affairs of Haleon, GSKCHHL, JVCo, GSKCHH-US, SBRL, or SPII; 

  

	 	(D)	 change the direct ownership of GSKCHHL, JVCo, GSKCHH-US, or SPII other
than through transactions that are disregarded for U.S. federal income tax purposes; 

  

	 	(E)	 transfer assets owned, directly or indirectly, by any member of the
GSKCHH-US Consolidated Group to a related person that is also not a member of the GSKCHH-US Consolidated Group, other than in the ordinary course of business (and for
these purposes the “GSKCHH-US Consolidated Group” means the affiliated group of U.S. corporations of which GSKCHH-US is the common parent that join in
the filing of a consolidated U.S. federal income tax return); or 

  

	 	(F)	 transfer assets owned, directly or indirectly, by SPII to a related person, other than in the ordinary course
of business; or 

  

	 	(G)	 issue or transfer shares to any member of the Pfizer Group that would result in the Pfizer Group, in the
aggregate, directly or indirectly owning more than 50 percent of the stock (by vote or value) of any member of the Haleon Group (any action described in paragraphs (A) through (G) above, a “Restricted US Transfer”).

  
 59 

	3	 Prior to the two-year anniversary of the Demerger Completion, neither
Haleon nor any member of the Haleon Group shall take any action (including the adoption of a plan or arrangement) to effect any: 

   

	 	(A)	 Potential CH ATB Restructuring; 

 

	 	(B)	 Restricted US Transfer; or 

 

	 	(C)	 redemption or other repurchase, directly or through any member of the Haleon Group, of any Haleon shares (or of
rights to acquire any Haleon shares) after the Demerger, other than repurchases or redemptions of widely held Haleon shares that (i) are made in the open market, (ii) are motivated by a non-U.S.
federal income tax purpose and (iii) in the aggregate, do not exceed 20 percent of the outstanding Haleon shares. For purposes of this provision, a redemption or other repurchase includes acquisitions of Haleon shares by any trusts that
are maintained by any member of the Haleon Group for the purpose of satisfying equity compensation awards to employees of the Haleon Group (other than pursuant to a direct subscription for such shares by any such trusts from Haleon).

  
 60 

 Part B 
  

	1	 In this Part B the following expressions shall have the following meanings: 

 

			
	 “Haleon NVPS”
	 	has the meaning given to the term “Haleon NVPS” in the Pfizer Exchange Agreement;
		
	 “Haleon NVPS Holder”
	 	means the person who purchases the Haleon NVPS from a Pfizer Group Company and any subsequent holder of such stock;
		
	 “NVPS Sale”
	 	has the meaning given to the term “NVPS Sale” in the Pfizer Exchange Agreement; and
		
	 “Code”
	 	means the U.S. Internal Revenue Code of 1986, as amended.

  

	2	 Neither Haleon nor any member of the Haleon Group shall (i) at the time of the Demerger Completion, have
any current plan or intention to, and (ii) prior to the two-year anniversary of the Demerger Completion, cause or permit: 

 

	 	(A)	 GSK Consumer Healthcare Holdings (No.1) Limited (“GSKCHH 1”) or GSKCHH 3 to (i) issue new
shares of stock (whether or not in exchange for property), (ii) reacquire (or redeem or cancel, whether or not in exchange for property) or convert (or recapitalize) any of its outstanding shares of stock, or (iii) amend its organization
documents to take any other action affecting the voting rights of its outstanding shares of stock; 

  

	 	(B)	 Any of the equity interests in GSKCHH-US to be recapitalized
into a different class of equity; 

  

	 	(C)	 GSKCHH-US to reacquire (or redeem or cancel, whether or not in exchange
for property) or convert (or recapitalize) any of its issued and outstanding preferred stock; 

  

	 	(D)	 GSK Panama or GSKCHH-US to acquire any of the outstanding shares of
GSKCHH 1 common stock or GSKCHH 3 common stock or GSKCHH-US to dispose of any of its shares of nonvoting preferred shares of GSKCHH 1 (“GSKCHH 1 NVPS”) or GSKCHH 3 (“GSKCHH 3
NVPS”); 

  
 61 

	 	(E)	 GSK Panama or GSK Consumer Healthcare Holdings (No.7) Limited (“GSKCHH 7”) to reacquire any of
the GSKCHH 1 NVPS or GSKCHH 3 NVPS; 

  

	 	(F)	 To take any action that would result in the involuntary merger, liquidation, bankruptcy, dissolution, or
winding up of the affairs of GSKCHH 1, GSKCHH 3, GSKCHH-US, or GSKCHH 7, or otherwise cease such entity’s legal existence; 

 

	 	(G)	 GSKCHH 1, GSKCHH 3, GSKCHH 7, Consumer Healthcare Intermediate Holdings Ltd., or Consumer Healthcare Holdings
Ltd. to liquidate, combine with another entity (whether in a reorganization or otherwise), convert into another form of entity or change its classification for U.S. federal income tax purposes; or 

 

	 	(H)	 GSKCHH 7 to sell, exchange, or otherwise dispose of, except in the ordinary course of business, any of its
(i) equity interests in GSKCHH 1, (ii) equity interests in GSKCHH 6, (iii) equity interests in Ferrosan ApS, or (iv) equity interests in SBRL. 

  

	3	 Neither Haleon nor any member of the Haleon Group shall, as of the time of the Demerger Completion, have any
current plan or intention to contribute any property to GSKCHH-US Inc. 

  

	4	 Haleon will not and will not cause any of its affiliates to discharge GSKCHH 1’s obligation on the notes
issued by GSKCHH1 to JVCo on November 22, 2021 (“GSKCHH 1 Notes”) prior to maturity, whether via a contribution of the GSKCHH 1 Notes by JVCo (or any affiliated entity) to the capital of GSKCHH 1 or otherwise, or to take any
other action that would result in the cancellation of the GSKCHH 1 Notes, other than payments in accordance with the terms of the GSKCHH 1 Notes. 

  

	5	 Neither Haleon nor any member of the Haleon Group shall (i) at the time of the NVPS Sale, have any current
plan or intention to, and (ii) prior to the five-year anniversary of the NVPS Sale, cause or permit: 

   

	 	(A)	 An amendment of the terms, or any other action affecting the voting rights (or lack thereof), of the Haleon
NVPS; 

  

	 	(B)	 The Haleon NVPS to be reacquired (or redeemed or cancelled, whether or not in exchange for property) or
converted (or recapitalized), except for a redemption pursuant to the terms, as of issuance, of the Haleon NVPS; or 

  

	 	(C)	 An issuance of any (A) additional shares of the Haleon NVPS or (B) additional nonvoting stock that
may be treated as the same class of stock as the Haleon NVPS. 

  

	6	 Prior to the two-year anniversary of the Demerger Completion, neither
Haleon nor any member of the Haleon Group shall take any action (including the adoption of a plan or arrangement) to: 

   

	 	(A)	 voluntarily merge, consolidate, liquidate, or dissolve (including for U.S. federal income tax purposes) JVCo;

  
 62 

	 	(B)	 convert JVCo into another form of entity or to change its classification for U.S. federal income tax purposes
(including, for the avoidance of doubt, as a result of a contribution of the equity interests in JVCo to an entity classified as a corporation for U.S. federal income tax purposes); 

 

	 	(C)	 take any action that would result in the involuntary merger, liquidation, bankruptcy, dissolution, or winding
up of the affairs of JVCo; or 

  

	 	(D)	 change the direct ownership for U.S. federal income tax purposes (including by contribution or redemption) of
JVCo other than through transactions that are disregarded for U.S. federal income tax purposes. 

  

	7	 Prior to the later of (i) the two-year anniversary of the Demerger
Completion and (ii) the first day of the succeeding U.S. federal income tax year of the relevant member of the Haleon Group after the first taxable year in which Pfizer or any member of Pfizer’s Group would no longer be subject to the PFIC
rules under Sections 1291 to 1298 of the Code if Haleon or any member of the Haleon Group were to constitute a PFIC (as defined in Section 1297 of the Code), Haleon will use commercially reasonable efforts to cause Haleon and each member of the
Haleon Group not to constitute a PFIC. 

  

	8	 An action is outlined in this paragraph 8 if, prior to the later of (i) the
two-year anniversary of the Demerger Completion and (ii) the first day of the succeeding U.S. federal income tax year of the relevant member of the Haleon Group after the first taxable year in which
neither Pfizer nor any member of Pfizer’s Group constitutes a “United States shareholder” as defined in Section 951(b) of the Code of such member of the Haleon Group, a member of the Haleon Group shall: 

  

	 	(A)	 Take any action or series of related actions outside the ordinary course of business (including a change in the
entity classification of any member of the Haleon Group for U.S. federal, state or local tax purposes), which would reasonably be expected to cause any member of the Haleon Group, or any member of the Pfizer Group, to recognize a material amount of
income under Section 951(a) or 951A(a) of the Code. 

  

	 	(B)	 Acquire any material asset outside the ordinary course of business that constitutes “United States
property” within the meaning of Section 956 of the Code (including by entering into credit support arrangements that are treated as investments in “United States property” within the meaning of Section 956 of the Code) and
that would reasonably be expected to give rise to a material gross income inclusion to any member of the Pfizer Group under Section 951(a)(1)(B) of the Code. 

  
 63 

 Schedule 2 

White List 
  

	(A)	 Any transaction, arrangement or agreement with, or disposition, transfer, sale, exchange or disposal to, or
acquisition from, a third party for cash; 

  

	(B)	 Any transaction, arrangement, agreement, disposition, acquisition, transfer, sale, exchange, disposal,
restructuring, reorganisation, action or other step required to be entered into in order to obtain any consent, approval or authorisation of, permit or licence issued or granted by, governmental order, waiver or exemption by, any person (including
any governmental authority) or which is otherwise required by any governmental antitrust authority; 

  

	(C)	 Any transaction, arrangement, agreement, disposition, acquisition, transfer, sale, exchange, disposal,
restructuring, reorganisation, action or other step between one or more members of the Haleon Group that are treated as entities disregarded as separate from each other for U.S. federal income Tax purposes and which are direct or indirect
subsidiaries of the same member of the Haleon Group that is treated as a corporation for U.S. federal income Tax purposes. 

  
 64 

  IN WITNESS of which this document has been executed as a deed on the date which appears on page 1
above. 
   

					
	SIGNED as a DEED by [name of authorised signatory] as attorney for GSK PLC in the presence of:	  	)
 )
 )

)
 )
	  	      

(Signature of attorney)
 [name of authorised signatory] as
attorney for GSK PLC

			
	Witness’s signature:	  		  	      

			
	Name (print):	  		  	      

			
	Occupation:	  		  	      

			
	Address:	  		  	      

  
 65 

					
	 EXECUTED as a DEED by PFIZER INC.

acting by [name of authorised signatory] who, in accordance with the laws of the territory in which PFIZER INC. is incorporated, is acting under the
authority of PFIZER INC.
	  	)
 )
 )

)
 )

)
 )

)
	  	      

(Authorised signatory)

  
 66 

					
	SIGNED as a DEED by [name of authorised signatory] as attorney for HALEON PLC in the presence of:	  	)
 )
 )

)
 )
	  	      

(Signature of attorney)
 [name of authorised signatory] as
attorney for 
 HALEON PLC

			
	Witness’s signature:	  		  	      

			
	Name (print):	  		  	      

			
	Occupation:	  		  	      

			
	Address:	  		  	      

  
 67 

					
	EXECUTED as a DEED by GLAXOSMITHKLINE CONSUMER HEALTHCARE HOLDINGS (NO.2) LIMITED acting by [name of authorised signatory], a director, in the presence of: 	  	)
)
)
)
)	  	      

Director

			
	Witness’s signature:	  		  	      

			
	Name (print):	  		  	      

			
	Occupation:	  		  	      

			
	Address:	  		  	      

  
 68 

					
	SIGNED as a DEED by [name of authorised signatory] as attorney for GLAXOSMITHKLINE CONSUMER HEALTHCARE HOLDINGS LIMITED in the presence of:	  	)
)
)
)
)
)	  	      

(Signature of attorney) 
 DAVID REDFERN as attorney
for GLAXOSMITHKLINE CONSUMER HEALTHCARE HOLDINGS LIMITED

			
	Witness’s signature:	  		  	      

			
	Name (print):	  		  	      

			
	Occupation:	  		  	      

			
	Address:	  		  	      

  
 69EX-4.9

 Exhibit 4.9 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS EXHIBIT, MARKED BY [***], HAS BEEN OMITTED FROM THIS EXHIBIT BECAUSE IT IS BOTH
(I) NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO THE COMPANY IF PUBLICLY DISCLOSED. 
 DATED [•] 

GSK PLC 
 and 

PFIZER INC. 
 and 

HALEON PLC 
 and 

GLAXOSMITHKLINE CONSUMER HEALTHCARE HOLDINGS (NO.2) LIMITED 

and 
 GLAXOSMITHKLINE CONSUMER
HEALTHCARE HOLDINGS LIMITED 
 and 

ANACOR PHARMACEUTICALS, INC. 

and 
  PF CONSUMER
HEALTHCARE HOLDINGS LLC 
  
  

SEPARATION CO-OPERATION AND 

IMPLEMENTATION AGREEMENT 
  

 
 Slaughter and
May 
 One Bunhill Row 
 London
EC1Y 8YY 
 (SRN/TGXF) 

Exhibits and schedules have been omitted pursuant to the Instructions as to Exhibits in Form 20-F and
will be furnished on a supplemental basis to the Securities and Exchange Commission upon request. 

 CONTENTS 
  

							
	 	  	Page	 
			
	1.	  	Interpretation	  	 	6	 
			
	2.	  	Co-operation and Implementation	  	 	33	 
			
	3.	  	Separation Process and Termination	  	 	39	 
			
	4.	  	Dividends	  	 	40	 
			
	5.	  	Circular, Prospectus and Compliance and Reporting Obligations	  	 	45	 
			
	6.	  	Amendments to Cosmos SAPA and NEBA	  	 	46	 
			
	7.	  	Termination at Admission of Cosmos SHA and Cosmos SCA; Continuing Cosmos SHA Provisions; and Other Post-Completion Matters	  	 	47	 
			
	8.	  	Tax Covenant	  	 	47	 
			
	9.	  	Settlement of Outstanding Cross-Group Amounts	  	 	47	 
			
	10.	  	Post-Separation Committee	  	 	48	 
			
	11.	  	Exclusion of Liability	  	 	48	 
			
	12.	  	[Reserved]	  	 	49	 
			
	13.	  	Employees	  	 	49	 
			
	14.	  	[Reserved]	  	 	49	 
			
	15.	  	Restrictive Covenants	  	 	49	 
			
	16.	  	Confidentiality	  	 	50	 
			
	17.	  	Announcements	  	 	51	 
			
	18.	  	Warranties	  	 	52	 
			
	19.	  	Costs and Expenses	  	 	52	 
			
	20.	  	Payments	  	 	53	 
			
	21.	  	Recharge to Haleon	  	 	53	 
			
	22.	  	Notices	  	 	53	 
			
	23.	  	Entire Agreement	  	 	55	 

					
			
	24.	  	Contracts (Rights of Third Parties) Act 1999	  	56
			
	25.	  	Assignment	  	57
			
	26.	  	Remedies and Waivers	  	57
			
	27.	  	Variation	  	58
			
	28.	  	Further Assurance	  	58
			
	29.	  	No Partnership or Agency	  	58
			
	30.	  	Invalidity	  	58
			
	31.	  	Continuing Effect	  	59
			
	32.	  	Counterparts	  	59
			
	33.	  	Language	  	59
			
	34.	  	Governing Law and Jurisdiction	  	59
			
	35.	  	Agent for Service	  	60

 SCHEDULES AND ATTACHMENTS 
  

					
	 Schedule 1 Provisions on Claims under the Dividend Indemnities
	  	 	67	
		
	 Schedule 2 Continuing Cosmos SHA Provisions and Post-Completion Matters
	  	 	71	
		
	 Part A (Continuing Cosmos SHA Provisions)
	  	 	71	
		
	 Part B (Other post-Completion Matters)
	  	 	84	
		
	 Schedule 3 Allocation of Costs and Expenses
	  	 	88	

  AGREED FORM DOCUMENTS 

Pfizer Relationship Agreement 

Orderly Marketing Agreement 

Registration Rights Agreement 

Sponsors’ Agreements 

Lock-up Deed 
 Demerger Agreement

 GSK Exchange Agreement 

Pfizer Exchange Agreement 
 SLP
Exchange Agreement 
 Cosmos SAPA Amendment Agreement 

Tax Covenant 
 ATFA 

Transitional Services Agreement 

GSK Manufacturing and Supply Agreement 

Consumer Manufacturing and Supply Agreement 

GSK Quality Agreement 
 Consumer
Quality Agreement 
 Shared Brands Licences Agreement 

Shared Brands Committee Agreement 

Corporate Brand Licence Agreement 

Co-Existence Agreement 
 Long Term
Access Agreement 
 Pharmacovigilance Agreement 

NEBA Amendment Agreement 

Argentina NEBA 
 Brazil ATFA 

Deed of Termination 
 Regulatory
Information Access and Service Agreement 

 This Agreement is made as a deed on [•] 2022. 

BETWEEN: 
  

	1.	 GSK PLC, a public limited company incorporated in England with number 03888792, having its registered
office at 980 Great West Road, Brentford, Middlesex, TW8 9GS (“GSK”); 

  

	2.	 PFIZER INC., a corporation incorporated under the laws of Delaware whose registered office is at 235
East 42nd Street, New York, New York 10017 (“Pfizer”); 

  

	3.	 HALEON PLC, a public limited company incorporated in England with number 13691224, having its
registered office at 980 Great West Road, Brentford, Middlesex, United Kingdom, TW8 9GS (“Haleon”); 

   

	4.	 GLAXOSMITHKLINE CONSUMER HEALTHCARE HOLDINGS (NO.2) LIMITED, a private limited company incorporated
under the laws of England under registered number 11961650 whose registered office is at 980 Great West Road, Brentford, Middlesex TW8 9GS (“JVCo”); 

 

	5.	 GLAXOSMITHKLINE CONSUMER HEALTHCARE HOLDINGS LIMITED, a private limited company incorporated under
the laws of England under registered number 08998608 whose registered office is at 980 Great West Road, Brentford, Middlesex TW8 9GS (“GSKCHHL”); 

 

	    	 ANACOR PHARMACEUTICALS, INC., a corporation incorporated under the laws of Delaware whose registered
office is at 235 East 42nd Street, New York, New York 10017 (“Anacor”); and 

   

	6.	 PF CONSUMER HEALTHCARE HOLDINGS LLC, a limited liability company incorporated under the laws of
Delaware whose registered office is at 235 East 42nd Street, New York, New York 10017 (“PFCHHL”). 

 WHEREAS: 

 

	(A)	 GSK intends to demerge approximately 80.1% of its interest in the Consumer Healthcare Business, by way of an
indirect dividend demerger, for the purpose of benefiting both the Consumer Healthcare Business and the GSK Business. GSK also intends that, subsequent to such demerger, Haleon, as the holder of the Consumer Healthcare Business, shall be listed on
the London Stock Exchange as a separate and independently managed group. 

  

	(B)	 Haleon is a company that is not part of the GSK Group or the Pfizer Group. GSKCHHL is (and will be,
immediately prior to the Demerger) a subsidiary of GSK with 100% of its A Shares and B Shares held by GSK and 100% of its C Shares held by the SLPs (which A Shares, B Shares and C Shares comprise all ownership interests of whatever nature in
GSKCHHL). GSKCHHL is (and will be immediately following the Demerger and the Share Exchanges) the registered holder of 100% of the issued ordinary A shares and 100% of the issued preference shares in JVCo, which is the current parent company of the
Consumer Healthcare Group. 

  

	(C)	 GSK and Haleon have conditionally agreed on the terms of the Demerger Agreement pursuant to which GSK will
transfer to Haleon the Relevant GSKCHHL Shares (being all of the A Shares, representing in excess of 80% of the entire issued ordinary share capital of GSKCHHL which comprises A Shares, B Shares and C Shares) in consideration for

  
 4 

	 	 
which Haleon will allot and issue, credited as fully paid up, the Haleon Demerger Shares to the Qualifying GSK Shareholders, in satisfaction of the Demerger Dividend to be declared on the GSK
Shares pursuant to the Demerger Resolution. 

  

	(D)	 Separately, pursuant to: (i) the GSK Exchange Agreement, GSK has agreed to transfer GSK’s entire
shareholding of B Shares to Haleon in exchange for Haleon issuing the GSK Haleon Exchange Shares to GSK; (ii) the Pfizer Exchange Agreement, Anacor and Pfizer have agreed that the Pfizer Group PFCHHL Transferor shall transfer the PFCHHL Interests
(being all of the common interests in PFCHHL (which comprise all ownership interests of whatever nature in PFCHHL) and which shall be held by Anacor until the commencement of the PFCHHL Transfer and by Pfizer following completion of the PFCHHL
Transfer until completion of the Pfizer Share Exchange) to Haleon in exchange for Haleon issuing the Pfizer Haleon Exchange Shares (comprising new Haleon Ordinary Shares and the Haleon NVPS) to the Pfizer Group PFCHHL Transferor and the Depositary
and, following which, the Pfizer Group PFCHHL Transferor will sell the Haleon NVPS immediately upon receipt of such Haleon NVPS pursuant to a binding commitment made prior to its transfer of the PFCHHL Interests to Haleon; and (iii) the SLP Exchange
Agreement, each SLP has agreed to transfer its entire shareholding of C Shares to Haleon in exchange for Haleon issuing the applicable portion of the SLP Haleon Exchange Shares to each such SLP. 

 

	(E)	 As a result of the Demerger Completion and the completion of the Share Exchanges: (i) (A) the Pfizer Group
PFCHHL Transferor and the Depositary (with respect to the Haleon Ordinary Shares held on behalf of the Pfizer Group PFCHHL Transferor) will hold, in aggregate, 32% of the issued Haleon Ordinary Shares (rounded to the nearest whole ordinary share)
and 100% of the issued preference shares in Haleon, it being understood that any Haleon Ordinary Shares issued to the Depositary pursuant to the Pfizer Exchange Agreement will be held by the Depositary on behalf of the Pfizer Group PFCHHL Transferor
in connection with and under the establishment of the Haleon ADR Programme, (B) the Qualifying GSK Shareholders will hold at least approximately 54.47% of the issued ordinary shares of Haleon, (C) GSK will hold up to approximately 6.03% of the
issued ordinary shares of Haleon (and with the issued ordinary shares comprised in (B) and (C) together representing 60.5% of the issued ordinary shares of Haleon (rounded to the nearest whole ordinary share)), and (D) the SLPs will collectively
hold 7.5% of the issued ordinary shares of Haleon (rounded to the nearest whole ordinary share); (ii) Haleon will hold 100% of the issued ordinary shares and common interests, respectively, in each of GSKCHHL and PFCHHL; and (iii) (1) GSKCHHL will
hold 100% of the issued ordinary A shares and 100% of the issued preference shares in JVCo and (2) PFCHHL will hold 100% of the issued ordinary B shares in JVCo. 

 

	(F)	 It is also intended that, prior to commencement of the Demerger Completion Steps, the relevant Parties will
have taken all necessary actions so that each of the following actions shall have occurred: (i) JVCo will declare and pay the Final Quarterly Dividend, the Final Sweep Dividend and, separately, the
Pre-Separation Dividend to GSKCHHL and PFCHHL in accordance with the Cosmos SHA and the Treasury Side Letter; (ii) GSKCHHL will declare and pay the Pre-Separation
GSKCHHL Onward Dividend to GSK in respect of the A Shares and the B Shares; (iii) GSKCHHL will declare and pay the Final Sweep GSKCHHL Onward Dividend to GSK in respect of the A Shares and the B Shares and to the SLPs in respect of the C
Shares; (iv) GSKCHHL will declare and pay the Final Quarterly GSKCHHL Onward Dividend to GSK in respect of the A Shares and the B Shares and (if and only to the extent the SLPs are entitled to receive such dividend under the GSKCHHL Articles of
Association) to the SLPs in respect of the C Shares; and (v) PFCHHL will declare and pay or otherwise effect the Pre-Separation PFCHHL Onward Dividend, the Final Quarterly PFCHHL Onward Dividend and the
Final Sweep PFCHHL Onward Dividend to Anacor or, if completion of the PFCHHL Transfer has occurred prior to such time, Pfizer.  

 

	(G)	 It is further noted that Haleon redeemed the Redeemable Shares on 11 April 2022. 

  
 5 

	(H)	 In connection with the proposed listing of Haleon, and prior to the Demerger, it is also intended that:
(i) the Prospectus and Circular shall be published and posted; (ii) the GSK General Meeting shall take place to, among other things, approve the Demerger and the relevant parts of the Separation Transaction as a Class 1 transaction
for the purposes of Chapter 10 of the Listing Rules; (iii) the Haleon ADR Programme shall be established to come into effect on or around the time of Admission; and (iv) following payment by JVCo of the dividends referred to in recital
(F)(i) above, the ATB Re-organisation shall be completed. 

  

	(I)	 Following the Demerger Completion and the completion of the Share Exchanges, it is intended that Admission
shall occur, subsequent to which GSK shall implement the GSK Share Consolidation. 

  

	(J)	 The Parties have, to date, been co-operating in relation to the
proposed listing of Haleon, the Demerger and the Share Exchanges within the framework of the Cosmos SHA and the Cosmos SCA. With publication of the Circular and the Prospectus expected shortly, the Parties now wish to enter into this Agreement as
they have agreed to take certain additional steps and implement certain additional arrangements to effect completion of, or which otherwise relate to, the Separation Transaction. Accordingly, this Agreement, which is a deed, records their respective
obligations relating to such matters and certain terms on which relations between the Parties shall be governed following Completion. 

  

	(K)	 For U.S. federal income tax purposes, GSK and Haleon intend that the Demerger, together with certain related
transactions, qualify as a reorganization under Sections 368(a)(1)(D) and 355 of the Internal Revenue Code of 1986, as amended (the “Code”), and this Agreement, together with the Demerger Agreement, constitute a “plan of
reorganization” for purposes of Section 368 of the Code. 

  THIS DEED PROVIDES as follows: 

 

	1.	 INTERPRETATION 

 

	1.1	 In this Agreement and the Schedules: 

 

					
	       
	 	 “Admission”
	  	 means, unless otherwise expressly set forth herein, admission of the Haleon Admission Shares to the premium listing segment
of the Official List of the FCA and to trading on the London Stock Exchange’s main market for listed securities;

			
		 	 “Affected Party”
	  	 has the meaning given to that term in paragraph 1.2 of Part B (Other post-Completion Matters) of Schedule
2 (Continuing Cosmos SHA Provisions and Post-Completion Matters);

  
 6 

					
	       
	 	 “Affiliate”
	  	 means, in relation to any person (the “relevant person”) at any time during the period for which the
determination of affiliation is being made:
  

(i) any person Controlled (directly or indirectly) by the relevant person;

 

(ii)  any person Controlling (directly or indirectly) the relevant person; and

 

(iii)  any person under common Control (directly or indirectly) with the relevant
person,
  
 provided that (x) Pfizer and GSK (and any
members of their respective Groups) shall not be deemed to be an “Affiliate” of any members of the Consumer Healthcare Group, and any members of the Consumer Healthcare Group shall not be deemed to be an “Affiliate” of Pfizer or
GSK (or any members of their respective Groups), as of or following Completion, (y) any Delayed Business shall not constitute an “Affiliate” of JVCo unless, and until, the relevant completion date for the transfer of such Delayed
Business under the SAPA and (z) any Deferred Closing Business shall not constitute an “Affiliate” of JVCo unless, and until, the relevant completion date for the transfer of such Deferred Closing Business under the NEBA;

			
		 	 “Agreed Form”
	  	 means, in relation to any document, that document in a form agreed by the parties thereto and initialled for identification
purposes by or on behalf of each of the parties thereto, and, to the extent their agreement is required pursuant to the terms of the Cosmos SAPA, Cosmos SHA or any other agreements between members of the GSK Group, members of the Haleon Group
and/or members of the Pfizer Group, agreed by each of GSK, Haleon and Pfizer (whether or not parties thereto);

			
		 	 “Agreed Rate”
	  	 has the meaning given to that term in clause 20.1;

			
		 	 “Ancillary Agreements”
	  	 means the Listing Ancillary Agreements and the Separation Ancillary Agreements;

			
		 	 “Argentina NEBA”
	  	 means the letter agreement relating to the retention, operation and transfer of the manufacturing site located in Buenos
Aires, Argentina entered into or to be entered into between GSK and JVCo on or around the date of this Agreement;

  
 7 

					
	       
	 	 “A Shares”
	  	 means the A ordinary shares of £1.00 each in the share capital of GSKCHHL all of which are fully paid and held as at
the date of this Agreement by GSK;

			
		 	 “ATB Re-organisation”
	  	 means all of (i) the distribution in specie of the ordinary shares of GSKCHH3 by JVCo to GSKCHHL only, (ii) the
distribution of £53.125m by JVCo to GSKCHHL only, and (iii) the conversion of a portion of A shares in the share capital of JVCo held by GSKCHHL (of equivalent value to the distribution mentioned at (i)) into preference shares in the
share capital of JVCo in a manner consistent with the SCA Side Letter;

			
		 	 “ATFA”
	  	 means the asset transfer framework agreement between GSK, GSKCHHL and [[Haleon][JVCo]] entered into [on or around the date
of this Agreement];

			
		 	 “Brazil ATFA”
	  	 means the asset transfer framework agreement relating to the transfer of the manufacturing site located in
Jacarepaguá, Brazil entered into or to be entered into between GSK, GSKCHHL and JVCo on or around the date of this Agreement;

			
		 	 “B Shares”
	  	 means the B ordinary shares of £1.00 each in the share capital of GSKCHHL all of which are fully paid and held as at
the date of this Agreement by GSK;

			
		 	 “Business Day”
	  	 means a day (other than a Saturday or Sunday) on which banks are open for general business in London, UK;

			
		 	 “Circular”
	  	 means the circular to be dated with the Posting Date and to be sent to the shareholders of GSK in connection with the
Demerger, including a notice of general meeting of GSK, substantially in the Agreed Form;

			
		 	 “Co-Existence Agreement”
	  	 means the co-existence agreement in respect of certain trade marks and domain names
of the GSK Group and Consumer Healthcare Group entered into or to be entered into between Glaxo Group Limited, SmithKline Beecham Limited and Haleon on or around the date of this Agreement;

			
		 	 “Completion”
	  	 means completion of the final step in the Separation Transaction;

  
 8 

					
	       
	 	 “Connected Persons”
	  	 means, in relation to a Party, any member of its Group and any officer, employee, agent, adviser or representative of that
Party or any member of its Group, in each case, from time to time;

			
		 	 “Consumer Healthcare Business”
	  	 means the consumer healthcare business which, as at the date of Demerger Completion is operated within the JVCo Group and
any other asset or business of the consumer healthcare business that, as at the date of Demerger Completion, is contemplated to be operated within the Haleon Group after Separation Completion pursuant to the ATFA, the Argentina NEBA and/or the
Brazil ATFA;

			
		 	 “Consumer Healthcare Group”
	  	 means:
  

(i) prior to Demerger Completion, the JVCo Group; and

 

(ii)  from Demerger Completion, the Haleon Group;

			
		 	“Consumer Healthcare Group Companies”	  	 means any member of the Consumer Healthcare Group from time to time, and “Consumer Healthcare Group
Company” shall be construed accordingly;

			
		 	 “Consumer Healthcare Product”
	  	 means, in respect of any jurisdiction, any oral care, nutritional care, skin care, medicine or other cosmetic or healthcare
product or device of any kind, in each case, for the treatment of, or use by, human beings which is available without, or both with and without, a prescription, but excluding any such product or device that is subject to the same regulatory
classification and/or regulatory treatment (including in relation to advertising) as a product or device that is available only with a prescription;

			
		 	“Consumer Manufacturing and Supply Agreement”	  	 means the manufacturing and supply agreement entered into or to be entered into between GlaxoSmithKline Consumer Trading
Services Limited as supplier and GlaxoSmithKline Trading Services Limited as purchaser on or around the date of this Agreement;

			
		 	 “Consumer Quality Agreement”
	  	 means the quality agreement entered into or to be entered into between GlaxoSmithKline Consumer Trading Services Limited
and GlaxoSmithKline Trading Services Limited in respect of the Consumer Manufacturing and Supply Agreement on or around the date of this Agreement;

  
 9 

			
	 “Control”
	  	 means, in relation to a person, the ability of another person to ensure that the activities and business of the first
mentioned person are conducted in accordance with the wishes of that other person (whether by exercise of contractual rights, ownership of shares or otherwise), and a person shall be deemed to have Control of a body corporate if that person has the
contractual right to procure that the activities and business of that body corporate are conducted in accordance with that person’s wishes or if that person possesses the majority of the issued share capital or the voting rights in that body
corporate or the right to receive the majority of the income of that body corporate on any distribution by it of all of its income or the majority of its assets on a winding up (and “Controlled” and “Controlling”
shall be construed accordingly);

		
	 “Corporate Brand Licence Agreement”
	  	 means the brand licence agreement in respect of corporate marks entered into or to be entered into between certain
licensors, certain licensees and certain registered proprietors on or around the date of this Agreement;

		
	 “Cosmos Agreements”
	  	 has the meaning given to that term in clause 23.1;

		
	 “Cosmos Closing”
	  	 has the meaning given to the term “Closing” in the Cosmos SAPA;

		
	 “Cosmos Completion Date”
	  	 means 31 July 2019;

		
	 “Cosmos SAPA”
	  	 means the stock and asset purchase agreement entered into among Pfizer, GSK, GSKCHHL and JVCo dated 19 December 2018,
as amended from time to time including on 31 July 2019 and by the Cosmos SAPA Amendment Agreement;

		
	 “Cosmos SAPA Amendment Agreement”
	  	 means the amendment agreement to the Cosmos SAPA entered into or to be entered into in the Agreed Form among Pfizer, GSK,
GSKCHHL and JVCo on or around the date of this Agreement;

		
	 “Cosmos SCA”
	  	 means the structuring considerations agreement entered into among GSKCHHL, Pfizer, PFCHHL, GSK and JVCo dated 31 July
2019, as amended or supplemented from time to time;

  
 10 

			
	 “Cosmos SHA”
	  	 means the shareholders’ agreement in relation to JVCo entered into among GSKCHHL, Pfizer, PFCHHL, GSK and JVCo dated
31 July 2019, as amended or supplemented from time to time;

		
	 “Costs”
	  	 means charges and reasonable costs (including legal costs) and expenses (other than, subject to the below, Tax), which are
properly incurred and of an out-of-pocket nature, together with any amounts in respect of VAT comprised in such charges, costs and expenses but only to the extent not
recoverable;

		
	 “C Shares”
	  	 means the C ordinary shares of £1.00 each in the share capital of GSKCHHL, which shares rank pari passu with
the A Shares and the B Shares except that they carry no right to any Pre-Separation GSKCHHL Onward Dividend and carry no voting rights, all of which are fully paid and held as at the date of this Agreement by
the SLPs;

		
	 “CTA 2010”
	  	 means the UK Corporation Tax Act 2010;

		
	 “Deed of Termination”
	  	 means the global deed of termination relating to certain services provided by GSK or members of the GSK Group to Haleon or
members of the Consumer Healthcare Group entered into or to be entered into between GSK and JVCo on or around the date of this Agreement;

		
	 “Deferred Closing Business”
	  	 has the meaning given to that term in the NEBA;

		
	 “Delayed Business”
	  	 has the meaning given to that term in the Cosmos SAPA;

		
	 “Demerger”
	  	 means, unless otherwise expressly set forth herein, the proposed demerger of approximately 80.1% of GSK’s interest in
the Consumer Healthcare Business pursuant to the Demerger Agreement and the Demerger Dividend;

		
	 “Demerger Agreement”
	  	 means the demerger agreement entered into or to be entered into in the Agreed Form between GSK and Haleon on or around the
date of this Agreement;

		
	 “Demerger Completion”
	  	 means the time and date when the Demerger Conditions Precedent have been fulfilled and the Demerger Completion Steps have
taken place;

		
	 “Demerger Completion Steps”
	  	 has the meaning given to the term “Completion Steps” in the Demerger Agreement;

  
 11 

			
	 “Demerger Conditions Precedent”
	  	 means the conditions set out in clause [2.1 (Conditions Precedent)] of the Demerger Agreement;

		
	 “Demerger Dividend”
	  	 means the interim dividend, in specie, proposed to be declared by the GSK Board to effect the Demerger pursuant to the
authority granted to the GSK Board under the Demerger Resolution;

		
	 “Demerger Record Time”
	  	 means [6.00 p.m.] on [●] 2022, or such other time and/or date as the GSK Board may determine;

		
	 “Demerger Resolution”
	  	 means resolution [1] set out in the notice of general meeting of GSK included in the Circular;

		
	 “Depositary”
	  	 means JP Morgan Chase Bank N.A., as depositary for the Haleon ADSs;

		
	 “Disposal” or “Disposes”
	  	 means, in relation to any share in the capital of Haleon, any disposition of any right or interest in such share and
includes:
  

(i) any sale, assignment or transfer of any such share;

 

(ii)  creating or permitting to subsist any pledge, charge, mortgage, lien or other
security interest or encumbrance in respect of any such share;
  

(iii)  creating any trust or conferring any interest in respect of any such share;

 
 (iv) any
agreement, arrangement or understanding in respect of votes or the right to receive dividends in respect of any such share (other than this agreement);
  

(v)   the renunciation or assignment of any right to subscribe or receive any such
share or any legal or beneficial interest in any such share;
  

(vi) any agreement to do any of the above; and

 
 (vii) the
transmission of any such share by operation of Law,
  
 or
the holder of any such share (or any other member of its Group) entering into or agreeing to any arrangement whatsoever which has a similar economic effect to any such disposition;

  
 12 

			
	 “Dividend Indemnities”
	  	 means the indemnities given by Haleon to GSK and each member of the GSK Group and to Pfizer and each member of the Pfizer
Group which are contained in clause 4.11 (Dividends) and Schedule 1 (Provisions on Claims under the Dividend Indemnities);

		
	 “EMA”
	  	 means the European Medicines Agency, or any successor agency;

		
	 “Exchange Act”
	  	 means the U.S. Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated
thereunder;

		
	 “Exchange Agreements”
	  	 means the GSK Exchange Agreement, the Pfizer Exchange Agreement and the SLP Exchange Agreement;

		
	 “FCA”
	  	 means the Financial Conduct Authority acting in its capacity as the competent authority under Part VI of
FSMA;

		
	 “FDA”
	  	 means the US Food and Drug Administration, or any successor agency;

		
	 “Final Quarterly Dividend”
	  	 means the final quarterly interim dividend to be paid by JVCo to GSKCHHL and PFCHHL prior to the Demerger on or around
[●];

		
	 “Final Quarterly GSKCHHL Onward Dividend”
	  	 means the dividend to be paid by GSKCHHL to GSK (as holder of the A Shares and B Shares) and (if and only to the extent the
SLPs are entitled to receive such dividend under the GSKCHHL Articles of Association) to the SLPs (as holders of the C Shares) in accordance with the GSKCHHL Articles of Association prior to the Demerger following any Final Quarterly Dividend and
comprising amounts received pursuant thereto;

		
	 “Final Quarterly Onward Dividends”
	  	 means the Final Quarterly GSKCHHL Onward Dividend and the Final Quarterly PFCHHL Onward Dividend and comprising amounts
received pursuant thereto;

		
	 “Final Quarterly PFCHHL Onward Dividend”
	  	 means one or more dividend(s), distribution(s), transfer(s) or other similar transaction(s) from PFCHHL to Anacor (or, if
completion of the PFCHHL Transfer has occurred prior to such dividend(s), distribution(s), transfer(s) or other similar transaction(s), Pfizer) prior to the Demerger following any Final Quarterly Dividend and comprising amounts received by PFCHHL
pursuant thereto;

  
 13 

			
	 “Final Sweep Dividend”
	  	 has the meaning given to that term in the Treasury Side Letter;

		
	 “Final Sweep GSKCHHL Onward Dividend”
	  	 means the dividend to be paid by GSKCHHL to GSK (as holder of the A Shares and B Shares) and to the SLPs (as holders of the
C Shares) in accordance with the GSKCHHL Articles of Association prior to the Demerger following the Final Sweep Dividend and comprising amounts received pursuant thereto;

		
	 “Final Sweep Onward Dividends”
	  	 means the Final Sweep GSKCHHL Onward Dividend and the Final Sweep PFCHHL Onward Dividend and comprising amounts received
pursuant thereto;

		
	 “Final Sweep PFCHHL Onward Dividend”
	  	 means one or more dividend(s), distribution(s), transfer(s) or other similar transaction(s) from PFCHHL to Anacor (or, if
completion of the PFCHHL Transfer has occurred prior to such dividend(s), distribution(s), transfer(s) or other similar transaction(s), Pfizer) prior to the Demerger following the Final Sweep Dividend and comprising amounts received by PFCHHL
pursuant thereto;

		
	 “FSMA”
	  	 means the Financial Services and Markets Act 2000;

		
	 “Governance Code”
	  	 means the then current version of the UK Corporate Governance Code published by the UK Financial Reporting Council or any
successor body;

		
	 “Governmental Entity”
	  	 means any supra national, national, state, municipal or local government (including any subdivision, court, administrative
agency or commission or other authority thereof) or any quasi-governmental or private body exercising any regulatory, taxing, importing or other governmental or quasi-governmental authority, including the European Union;

		
	 “Group”
	  	 means:
  

(i) in relation to GSK, the GSK Group;

 
 (ii)  in
relation to Pfizer and/or Anacor, the Pfizer Group;
  

(iii)  in relation to Haleon, the Haleon Group; and

 
 (iv) in
relation to JVCo, the JVCo Group;

		
	 “GSK Board”
	  	 means the board of directors of GSK and any duly authorised committee of that board, from time to time;

  
 14 

			
	 “GSK Business”
	  	 means the business operated within the GSK Group, which is described in the Circular and which, for the avoidance of doubt,
does not include the Consumer Healthcare Business;

		
	 “GSKCHHL Articles of Association”
	  	 means the articles of association adopted by GSKCHHL (as amended or replaced from time to time);

		
	 “GSKCHHL Onward Dividends”
	  	 means the Final Quarterly GSKCHHL Onward Dividend, the Pre-Separation GSKCHHL
Onward Dividend and the Final Sweep GSKCHHL Onward Dividend;

		
	 “GSKCHH3”
	  	 means GSK Consumer Healthcare Holdings (No. 3) Limited, a company incorporated in England with number 13401293, having its
registered office at 980 Great West Road, Brentford, Middlesex, TW8 9GS;

		
	 “GSK Consolidation Resolution”
	  	 means the relevant parts of resolution [1] relating to the proposed consolidation of the share capital of GSK as set out in
the notice of general meeting of GSK included in the Circular;

		
	 “GSK Exchange Agreement”
	  	 means the Agreed Form exchange agreement between GSK and Haleon setting out the terms of the GSK Share
Exchange;

		
	 “GSK General Meeting”
	  	 means the general meeting of GSK to approve, among other things:

 
 (i) the
Demerger and the relevant parts of the Separation Transaction as a Class 1 transaction for the purposes of Listing Rule 10;
  

(ii)  the relevant parts of the Separation Transaction and the associated and ancillary
agreements and arrangements relating thereto or to be entered into pursuant thereto for the purposes of Chapter 11 of the Listing Rules; and
  

(iii)  the GSK Share Consolidation;

		
	 “GSK Group”
	  	 means GSK and its subsidiaries and subsidiary undertakings from time to time, excluding Haleon and the Consumer Healthcare
Group Companies;

  
 15 

			
		
	 “GSK Group Companies”
	  	 means any member of the GSK Group from time to time, and “GSK Group Company” shall be construed
accordingly;

		
	 “GSK Haleon Exchange Shares”
	  	 means the Haleon Ordinary Shares to be allotted and issued, credited as fully paid up, in accordance with the GSK Exchange
Agreement, which immediately following completion of the Demerger and the Share Exchanges, represent up to approximately 6.03% of the issued Haleon Ordinary Shares;

		
	 “GSK Manufacturing and Supply Agreement”
	  	 means the manufacturing and supply agreement entered into or to be entered into between GlaxoSmithKline Trading Services
Limited as supplier and GlaxoSmithKline Consumer Trading Services Limited as purchaser on or around the date of this Agreement;

		
	 “GSK NEB Agreement”
	  	 means the net economic benefit agreement entered into between GSK, Pfizer and JVCo and dated 31 July 2019, as amended
or supplemented from time to time;

		
	 “GSK Pre-Separation Bonds Guarantee”
	  	 means the guarantee given by GSK in respect of the Pre-Separation
Bonds;

		
	 “GSK Quality Agreement”
	  	 means the quality agreement entered into or to be entered into between GlaxoSmithKline Trading Services Limited and
GlaxoSmithKline Consumer Trading Services Limited in respect of the GSK Manufacturing and Supply Agreement [on or around the date of this Agreement];

		
	 “GSK Retained Shares”
	  	 means any Haleon Ordinary Shares (including Haleon ADSs and other securities convertible into shares) held by any member of
GSK’s Group in Haleon and any ultimate holding company thereof from time to time;

		
	 “GSK Share Consolidation”
	  	 means the consolidation of the share capital of GSK pursuant to and in accordance with the GSK Consolidation
Resolution;

		
	 “GSK Share Exchange”
	  	 means the transfer of GSK’s entire shareholding of B Shares to Haleon in exchange for Haleon issuing the GSK Haleon
Exchange Shares to GSK pursuant to and in accordance with the terms of the GSK Exchange Agreement;

  
 16 

			
	 “GSK Shareholders”
	  	 means holders of GSK Shares on the register of members of GSK from time to time;

		
	 “GSK Shares”
	  	 means ordinary shares in the capital of GSK having the rights set out in GSK’s articles of association from time to
time;

		
	 “Guarantee Fee Arrangements”
	  	 means the guarantee fee arrangements effected pursuant to:

 
 (i) the
guarantee fee agreement between Haleon (as guarantor) and GlaxoSmithKline Consumer Healthcare Holdings (US) LLC (as beneficiary) dated [•]; and
  

(ii)  the guarantee fee agreement between GSK (as guarantor) and GlaxoSmithKline Consumer
Healthcare Holdings (US) LLC (as beneficiary) dated 28 April 2022;

		
	 “Haleon Admission Shares”
	  	 means the Haleon Demerger Shares and the Haleon Exchange Shares (excluding the Haleon NVPS);

		
	 “Haleon ADR Programme”
	  	 means the American depositary receipt programme to be established for Haleon on or around Admission, as detailed in the
Steps Plan;

		
	 “Haleon ADSs”
	  	 means the American depositary shares each representing [2] Haleon Ordinary Shares to be admitted to listing and trading on
the NYSE pursuant to the establishment of the Haleon ADR Programme;

		
	 “Haleon Board”
	  	 means the board of directors of Haleon and any duly authorised committee of that board, from time to time;

		
	 “Haleon Committee Terms of Reference”
	  	 means the terms of reference for the following committees of the Haleon Board: audit and risk committee, remuneration
committee, nominations and governance committee and disclosure committee;

		
	 “Haleon Demerger Shares”
	  	 means the Haleon Ordinary Shares to be allotted and issued to the Qualifying GSK Shareholders as GSK shall direct, credited
as fully paid up, in accordance with the Demerger Agreement, together with (where the context so requires) any Haleon Ordinary Shares in issue prior to commencement of the Demerger Completion Steps;

  
 17 

			
	 “Haleon Exchange Shares”
	  	 means:
  

(i) the GSK Haleon Exchange Shares;

 

(ii)  the SLP Haleon Exchange Shares; and

 

(iii)  the Pfizer Haleon Exchange Shares,

 
 which, together, immediately following completion of the
Demerger and the Share Exchanges, represent up to approximately 45.53% of the issued Haleon Ordinary Shares (to the nearest whole Haleon Ordinary Share) and 100% of the issued preference shares of Haleon;

		
	 “Haleon Group”
	  	 means Haleon and its subsidiaries and subsidiary undertakings from time to time;

		
	 “Haleon NVPS”
	  	 means 25,000,000 unlisted redeemable non-voting preference shares of £[1.00]
each in the share capital of Haleon which carry a right to a fixed rate dividend payable quarterly and on a cumulative basis at a rate of [•], the terms of which are set forth in greater detail in schedule 2 (Haleon NVPS Terms) to the
Pfizer Exchange Agreement and in the New Haleon Articles of Association;

		
	 “Haleon Ordinary Shares”
	  	 means ordinary shares in the capital of Haleon having the rights set out in Haleon’s articles of association from time
to time;

		
	 “HMRC”
	  	 means HM Revenue & Customs;

		
	 “Indemnified Party”
	  	 has the meaning given to that term in Schedule 1 (Provisions on Claims under the Dividend
Indemnities);

		
	 “Indemnifying Party”
	  	 has the meaning given to that term in Schedule 1 (Provisions on Claims under the Dividend
Indemnities);

		
	 “India Condition”
	  	 has the meaning given to that term in the Demerger Agreement;

		
	 “Informing Party”
	  	 has the meaning given to that term in paragraph 1.2 of Part B (Other post-Completion Matters) of Schedule
2 (Continuing Cosmos SHA Provisions and Post-Completion Matters);

		
	 “Investigation”
	  	 has the meaning given to that term in paragraph 1.1 of Part B (Other post-Completion Matters) of Schedule
2 (Continuing Cosmos SHA Provisions and Post-Completion Matters);

		
	 [“Israel Condition”]
	  	 [has the meaning given to that term in the Demerger Agreement;]

		
	 “Japan Condition”
	  	 has the meaning given to that term in the Demerger Agreement;

		
	 “JVCo Board”
	  	 means the board of directors of JVCo and any duly authorised committee of that board, from time to time;

  
 18 

			
	 “JVCo Directors”
	  	 means the directors of JVCo from time to time;

		
	 “JVCo Group”
	  	 means JVCo and its subsidiaries and subsidiary undertakings from time to time;

		
	 “JVCo Shareholder Loan”
	  	 means any shareholder loan granted by GSK or any member of its wholly-owned Group or Pfizer or any member of its
wholly-owned Group (in each case as lender) to JVCo (or any member of the JVCo Group) (as borrower) pursuant to the provisions of clause 12.6 of the Cosmos SHA;

		
	 “Korea Condition”
	  	 has the meaning given to that term in the Demerger Agreement;

		
	 “Law”
	  	 means any statute, law, rule, regulation, ordinance, code or rule of common law issued, administered or enforced by any
Governmental Entity, or any judicial or administrative interpretation thereof, including the rules of any stock exchange or listing authority;

		
	 “Listing Ancillary Agreements”
	  	 means:
  

(i) the Pfizer Relationship Agreement;

 

(ii)  the Orderly Marketing Agreement;

 

(iii)  the Registration Rights Agreement;

 
 (iv) the
Sponsors’ Agreements; and
  

(v)   the Lock-up Deed,

 
 and any document, agreement or arrangement pursuant thereto
or in connection therewith;

		
	 “Listing Date”
	  	 has the meaning given to that term in the Treasury Side Letter;

		
	 “Listing Rules”
	  	 means the rules and regulations made by the FCA (acting in its capacity as the competent authority for the purposes of
FSMA) under FSMA, and contained in the publication of the same name, as amended from time to time (including any successor rules);

		
	 “Listing Transaction”
	  	 has the meaning given to that term in the Cosmos SHA;

  
 19 

			
	 “Lock-up Deed”
	  	 means the lock-up deed entered into or to be entered into in the Agreed Form
between GSK, Pfizer, the SLPs and [one bank designated by GSK and one bank designated by Pfizer] on or around the date of this Agreement;

		
	 “London Stock Exchange”
	  	 means London Stock Exchange plc;

		
	 “Long Term Access Agreement”
	  	 means the long term access agreement entered into or to be entered into between GSK and Haleon on or around the date of
this Agreement;

		
	 “Major Market”
	  	 means the United States of America, Canada, Japan, China, the United Kingdom, the European Union and France, Germany, Italy
and Spain individually;

		
	 “NEBA”
	  	 means the net economic benefit arrangements, comprising the GSK NEB Agreement and the Pfizer NEB Agreement as may be
amended and restated from time to time, including pursuant to the NEBA Amendment Agreement;

		
	 “NEBA Amendment Agreement”
	  	 means the amendment and restatement agreement with respect to the GSK NEB Agreement entered into or to be entered into
between GSK, JVCo and Pfizer on or around the date of this Agreement;

		
	 “New Haleon Articles of Association”
	  	 means the articles of association of Haleon in the Agreed Form to be adopted by Haleon with effect from
Admission;

		
	 “New JVCo Articles of Association”
	  	 means the articles of association of JVCo in the Agreed Form to be adopted by JVCo with effect from
Completion;

		
	 “Official List”
	  	 means the Official List maintained by the FCA pursuant to Part 6 of FSMA;

		
	 “Orderly Marketing Agreement”
	  	 means the orderly marketing agreement entered into or to be entered into in the Agreed Form between GSK, Pfizer and the
SLPs on or around the date of this Agreement;

		
	 “Party”
	  	 means a party to this Agreement;

		
	 “Percentage Interest”
	  	 means the respective percentage interests of each of GSKCHHL and PFCHHL in the issued ordinary shares of
JVCo;

  
 20 

			
	 “PFCHHL Interests”
	  	 means all of the common interests in the capital of PFCHHL in issue immediately prior to the completion of the Pfizer Share
Exchange, which comprise all ownership interests of whatever nature in PFCHHL and all of which are held by Anacor as at the date of this Agreement and all of which, from completion of the PFCHHL Transfer until the completion of the Pfizer Share
Exchange, shall be held by Pfizer;

		
	 “PFCHHL Onward Dividends”
	  	 means the Final Quarterly PFCHHL Onward Dividend, the Pre-Separation PFCHHL Onward
Dividend and the Final Sweep PFCHHL Onward Dividend;

		
	 “PFCHHL Transfer”
	  	 means the series of transactions pursuant to which the PFCHHL Interests will be transferred, distributed or otherwise
assigned from Anacor to Pfizer;

		
	 “Pfizer Exchange Agreement”
	  	 means the Agreed Form exchange agreement between Pfizer, Anacor and Haleon setting out the terms of the Pfizer Share
Exchange;

		
	 “Pfizer Group”
	  	 means Pfizer and its subsidiaries and subsidiary undertakings from time to time, excluding the Consumer Healthcare Group
Companies;

		
	 “Pfizer Group Companies”
	  	 means any member of the Pfizer Group from time to time, and “Pfizer Group Company” shall be construed
accordingly;

		
	 “Pfizer Group PFCHHL Transferor”
	  	 means Anacor or, if the PFCHHL Transfer has completed by the time of Demerger Completion, Pfizer;

		
	 “Pfizer Haleon Exchange Shares”
	  	 means the Haleon Ordinary Shares and the Haleon NVPS to be allotted and issued, credited as fully paid up, in accordance
with the Pfizer Exchange Agreement, which immediately following the Demerger Completion and the completion of the Share Exchanges, represent respectively 32% of the issued Haleon Ordinary Shares (rounded to the nearest whole Haleon Ordinary Share)
and 100% of the issued preference shares of Haleon;

		
	 “Pfizer NEB Agreement”
	  	 means the net economic benefit agreement entered into between Pfizer, GSK and JVCo and dated 31 July 2019, as amended
or supplemented from time to time;

		
	 “Pfizer Pre-Separation Bonds
Indemnity”
	  	 means the indemnity given by Pfizer to GSK in respect of the specified portion of GSK’s liability under the GSK Pre-Separation Bonds Guarantee;

		
	 “Pfizer Relationship Agreement”
	  	 means the relationship agreement entered into or to be entered into in the Agreed Form between Pfizer and Haleon on or
around the Posting Date;

		
	 “Pfizer Retained Shares”
	  	 means any Haleon Ordinary Shares (including Haleon ADSs and other securities convertible into shares) held by any member of
the Pfizer Group in Haleon and any ultimate holding company thereof from time to time;

  
 21 

			
	 “Pfizer Share Exchange”
	  	 means the transfer of the PFCHHL Interests from the Pfizer Group PFCGHL Transferor to Haleon in exchange for Haleon issuing
the Pfizer Haleon Exchange Shares to the Pfizer Group PFCHHL Transferor and the Depositary, pursuant to and in accordance with the terms of the Pfizer Exchange Agreement;

		
	 “Pharmaceutical Regulatory Authority”
	  	 means, with respect to any regulatory jurisdiction, any national, federal, supranational, regional, state, provincial or
local governmental or regulatory authority, agency, department, bureau, commission, council or other Governmental Entity, including the FDA and EMA, regulating or otherwise exercising authority with respect to pharmaceutical products in such
regulatory jurisdiction;

		
	 “Pharmacovigilance Agreement”
	  	 means the pharmacovigilance agreement entered into or to be entered into between [GSK Group entity] and [Consumer
Healthcare Group entity] on or around the date of this Agreement;

		
	 “Posting Date”
	  	 means the date of the Demerger Agreement (or such other date as may be determined by GSK and notified to Haleon and Pfizer
as the date for the issue and dispatch of the Circular and the publication of the Prospectus);

		
	 “Prescription Product”
	  	 means, in respect of any jurisdiction, any oral care, nutritional care, skin care, medicine or other cosmetic or healthcare
product or device of any kind, in each case, for the treatment of, or use by, human beings, which is (i) only available with a prescription or (ii) available without, or with and without, a prescription but is subject to the same
regulatory classification and/or regulatory treatment (including in relation to advertising) as a product or device that is only available with a prescription;

		
	 “Pre-Separation Bonds”
	  	 means the:
  

-  GBP 300,000,000 2.875 per cent Fixed Rate Notes due 29 October 2028
issued by GSK Consumer Healthcare Capital UK plc;
  

-  GBP 400,000,000 3.375 per cent Fixed Rate Notes due 29 October 2038
issued by GSK Consumer Healthcare Capital UK plc;
  

-  USD 1,750,000,000 3.125 per cent Fixed Rate Senior Notes due 2025 issued by
GSK Consumer Healthcare Capital UK plc;

  
 22 

			
		  	 -  EUR 850,000,000 1.250 per cent Fixed Rate Notes due
29 March 2026 issued by GSK Consumer Healthcare Capital NL B.V.;
  

-  EUR 750,000,000 1.750 per cent. Fixed Rate Notes due 29 March 2030
issued by GSK Consumer Healthcare Capital NL B.V.;
  

-  EUR 750,000,000 2.125 per cent Fixed Rate Senior Notes due 29 March 2034
issued by GSK Consumer Healthcare Capital NL B.V.;
  

-  USD 700,000,000 3.024 per cent Callable Fixed Rate Senior Notes due 2024
issued by GSK Consumer Healthcare Capital US LLC;
  

-  USD 300,000,000 Callable Floating Rate Senior Notes due 2024 issued by GSK
Consumer Healthcare Capital US LLC;
  

-  USD 2,000,000,000 3.375 per cent Fixed Rate Senior Notes due 2027 issued by
GSK Consumer Healthcare Capital US LLC;
  

-  USD 1,000,000,000 3.375 per cent Fixed Rate Senior Notes due 2029 issued by
GSK Consumer Healthcare Capital US LLC;
  

-  USD 2,000,000,000 3.625 per cent Fixed Rate Senior Notes due 2032 issued by
GSK Consumer Healthcare Capital US LLC; and
  

-  USD 1,000,000,000 4.000 per cent Fixed Rate Senior Notes due 2052 issued by
GSK Consumer Healthcare Capital US LLC;

		
	 “Pre-Separation Dividend”
	  	 means the dividend to be paid by JVCo to GSKCHHL and PFCHHL prior to the Demerger (as provided in clause 17.32(B) of the
Cosmos SHA and as otherwise agreed between the parties to the Cosmos SHA, including pursuant to the Treasury Side Letter);

		
	 “Pre-Separation GSKCHHL Onward Dividend”
	  	 means the dividend to be paid by GSKCHHL to GSK (as holder of the A Shares and B Shares) prior to the Demerger following
the Pre-Separation Dividend and comprising amounts received by GSKCHHL pursuant to the Pre-Separation Dividend;

  
 23 

			
	 “Pre-Separation Onward Dividends”
	  	 means the Pre-Separation GSKCHHL Onward Dividend and the Pre-Separation PFCHHL Onward Dividend and comprising amounts received pursuant thereto;

		
	 “Pre-Separation PFCHHL Onward Dividend”
	  	 means one or more dividend(s), distribution(s), transfer(s) or other similar transaction(s) from PFCHHL to Anacor (or, if
completion of the PFCHHL Transfer has occurred prior to such dividend(s), distribution(s), transfer(s) or other similar transaction(s), Pfizer) prior to the Demerger following the Pre-Separation Dividend and comprising amounts received by PFCHHL
pursuant thereto;

		
	 “Proceedings”
	  	 means any proceeding, suit or action arising out of or in connection with this Agreement or the negotiation, existence,
validity or enforceability of this Agreement, whether contractual or non-contractual;

		
	 “Prospectus”
	  	 means the prospectus relating to the Admission of the Haleon Admission Shares to be dated the Posting Date;

		
	 “Qualifying GSK Shareholders”
	  	 means the GSK Shareholders on the register of members of GSK at the Demerger Record Time;

		
	 “Redeemable Shares”
	  	 means the fully paid redeemable preference shares of £1.00 each in the share capital of Haleon (subscribed by Trexco
on or around the re-registration of Haleon as a public limited company);

		
	 “Registration Rights Agreement”
	  	 means the registration rights agreement between Haleon, Pfizer, GSK and each of the SLPs dated on or around the date of
this Agreement;

		
	 “Regulatory Conditions”
	  	 means, subject to clause 2.11 of this Agreement, the India Condition, [the Israel Condition,] the Japan Condition and the
Korea Condition;

		
	 “Regulatory Information Access and Service Agreement”
	  	 means the regulatory information access and service (linked products) agreement entered into or to be entered into between
GlaxoSmithKline Services Unlimited and GlaxoSmithKline Consumer Healthcare (Overseas) Unlimited on or around the date of this Agreement;

		
	 “Relevant GSKCHHL Shares”
	  	 means all of the class A ordinary shares of £1.00 each in the capital of GSKCHHL in issue immediately prior to
Demerger Completion;

		
	 “SCA Side Letter”
	  	 means the letter agreement between GSKCHHL, Pfizer, PFCHHL, GSK and JVCo dated 22 November 2021;

		
	 “SEC”
	  	 means the U.S. Securities and Exchange Commission;

  
 24 

			
	 “Securities Act”
	  	 means the U.S. Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder;

		
	 “Separation Ancillary Agreements”
	  	 means the:
  

(i)  Demerger Agreement;

 

(ii)  Exchange Agreements;

 

(iii)   Cosmos SAPA Amendment Agreement;

 
 (iv) Tax
Covenant;
  

(v)   ATFA;

 

(vi) Transitional Services Agreement;

 

(vii)  GSK Manufacturing and Supply Agreement;

 

(viii)  Consumer Manufacturing and Supply Agreement;

 
 (ix) GSK
Quality Agreement;
  

(x)   Consumer Quality Agreement;

 
 (xi) Shared
Brands Licences Agreement;
  

(xii)  Shared Brands Committee Agreement;

 

(xiii)  Corporate Brand Licence Agreement;

 
 (xiv) Co-Existence Agreement;
  

(xv)   Long Term Access Agreement;

 

(xvi) Pharmacovigilance Agreement;

 
 (xvii) NEBA
Amendment Agreement;
  

(xviii)Argentina NEBA;

 
 (xix) Brazil
ATFA;
  

(xx)   Guarantee Fee Arrangements;

 
 (xxi) Deed of
Termination; and
  

(xxii) Regulatory Information Access and Service Agreement,

 
 and any document, agreement or arrangement pursuant thereto
or in connection therewith;

  
 25 

			
	 “Separation Transaction”
	  	 means the steps comprised in the Demerger, the Exchange Agreements, execution of the Separation Ancillary Agreements and
Admission, pursuant to which, among other things, Haleon will become a listed company holding the Consumer Healthcare Business;

		
	 “Service Document”
	  	 has the meaning given to that term in clause 35.5;

		
	 “Shared Brands Committee Agreement”
	  	 means the shared brands committee agreement entered into or to be entered into between [GSK Group entity] and
[Consumer Healthcare Group entity] on or around the date of this Agreement;

		
	 “Shared Brands Licences Agreement”
	  	 means the deed of amendment and restatement to amend and restate certain shared brand licence agreements entered into or to
be entered into between certain licensors, certain licensees and certain registered proprietors on or around the date of this Agreement;

		
	 “Share Exchanges”
	  	 means the GSK Share Exchange, the Pfizer Share Exchange and the SLP Share Exchange;

		
	 “SLP Exchange Agreement”
	  	 means the Agreed Form exchange agreement between the SLPs and Haleon setting out the terms of the SLP Share
Exchange;

		
	 “SLP Haleon Exchange Shares”
	  	 means the Haleon Ordinary Shares to be allotted and issued, credited as fully paid up, in accordance with the SLP Exchange
Agreement, which immediately following completion of the Demerger and the Share Exchanges, represent 7.5% of the issued Haleon Ordinary Shares (rounded to the nearest whole Haleon Ordinary Share);

  
 26 

			
	 “SLPs”
	  	 means:
  

(i) GSK (No. 1) Scottish Limited Partnership, a private fund limited partnership registered in
Scotland with registration number SL035527 and whose principal place of business is at 50 Lothian Road, Festival Square, Edinburgh, EH3 9WJ;
  

(ii)  GSK (No. 2) Scottish Limited Partnership, a private fund limited partnership
registered in Scotland with registration number SL035526 and whose principal place of business is at 50 Lothian Road, Festival Square, Edinburgh, EH3 9WJ; and
  

(iii)  GSK (No. 3) Scottish Limited Partnership, a private fund limited partnership
registered in Scotland with registration number SL035525 and whose principal place of business is at 50 Lothian Road, Festival Square, Edinburgh, EH3 9WJ,
  

being the Scottish limited partnerships that will each receive shares in Haleon pursuant to the SLP Exchange Agreement, and
“SLP” shall be construed accordingly;

		
	 “SLP Share Exchange”
	  	 means the transfer of each SLP’s entire shareholding of C Shares to Haleon in exchange for Haleon issuing the
applicable portion of the SLP Haleon Exchange Shares to each such SLP, pursuant to and in accordance with the terms of the SLP Exchange Agreement;

		
	 “Sponsors”
	  	 means:
  

(i) Citigroup Global Markets Limited, a company incorporated in England and Wales with
registered number 01763297 whose registered office is Citigroup Centre, Canada Square, Canary Wharf, London E14 5LB;
  

(ii)  Goldman Sachs International, a company incorporated in England and Wales with
registered number 02263951 whose registered office is Plumtree Court, 25 Shoe Lane, London, EC4A 4AU; and
  

(iii)  Merrill Lynch International, a company incorporated in England and Wales with
registered number 02312079 whose registered office is 2 King Edward Street, London, EC1A 1HQ;

  
 27 

			
	 “Sponsors’ Agreements”
	  	 means:
  

(i) the sponsors’ agreement between Haleon, JVCo and each of the Sponsors dated [•];
and
  

(ii)  the sponsors’ agreement between GSK and each of the Sponsors dated
[•];

		
	 “Steps Plan”
	  	 means the demerger steps plan prepared by Slaughter and May summarising the proposals in relation to the Separation
Transaction, and initialled for identification purposes by or on behalf of each of GSK, Pfizer and Haleon;

		
	 “Sterling” and “£”
	  	 means the lawful currency of the United Kingdom;

		
	 “subsidiary undertaking”
	  	 means a subsidiary undertaking as defined in section 1162 Companies Act 2006 (and a company shall be treated, for the
purposes only of the membership requirement contained in subsections 1162(2)(b) and (d) respectively, as a member of another company even if its shares in that other company are registered in the name of (A) another person (or its nominee)
whether by way of security or in connection with the taking of security or (B) its nominee);

		
	 “Sweep Amount”
	  	 has the meaning given to that term in the Treasury Side Letter;

		
	 “Switch Exclusivity Period”
	  	 has the meaning given to that term in paragraph 2.5 of Part A of Schedule 2 (Continuing Cosmos SHA
Provisions and Post-Completion Matters);

		
	 “Switch Milestone”
	  	 has the meaning given to that term in paragraph 2.2 of Part A of Schedule 2 (Continuing Cosmos SHA
Provisions and Post-Completion Matters);

		
	 “Switch Party”
	  	 has the meaning given to that term in paragraph 2.2 of Part A of Schedule 2 (Continuing Cosmos SHA
Provisions and Post-Completion Matters);

  
 28 

			
	 “Switch Product”
	  	 means, in respect of any jurisdiction, any Prescription Product (including any specific doses and/or indications of a
Prescription Product) that is proposed by the relevant Switch Party to switch to being a Consumer Healthcare Product, excluding:
  

(i) where the Switch Party is a member of the GSK Group: Imitrex and Ventolin and all products
sold under such brand names or variations or derivations (including translations) thereof; and
  

(ii)  where the Switch Party is a member of the Pfizer Group: Viagra, Celebrex and Chantix
and all products sold under such brand names or variations or derivations (including translations) thereof;

		
	 “Tax”
	  	 means all taxes, and all levies, duties, imposts, charges and withholdings in the nature of tax, including taxes on gross
or net income, profits or gains and taxes on receipts, sales, use, employment, payroll, land, stamp, transfer, occupation, franchise, value added, wealth and personal property, together with all penalties, charges, additions to tax, and interest
relating to any of them, and regardless of whether any such amounts are chargeable or attributable directly or primarily to any other person or are recoverable from any other person;

		
	 “Tax Authority”
	  	 means any taxing, revenue or other authority competent to impose any liability to, or to assess or collect, any Tax,
including, without limitation, HMRC and the Internal Revenue Service;

		
	 “Tax Covenant”
	  	 means the deed of tax covenant relating to the Separation Transaction, entered into or to be entered into in the Agreed
Form between GSK, Haleon, GSKCHHL, Pfizer and JVCo on or around the date of this Agreement;

		
	 “Third Party”
	  	 means a person who:
  

(i) is not a member of the GSK Group or the Pfizer Group;

 
 (ii)  is
not connected with GSK or Pfizer; and
  

(iii)  is not a member of the Consumer Healthcare Group;

  
 29 

			
	 “Transaction Documents”
	  	 means this Agreement and the Ancillary Agreements;

		
	 “Transitional Services

Agreement”
	  	 means the transitional services agreement entered into or to be entered into between [GlaxoSmithKline Services Unlimited,
GlaxoSmithKline LLC, GlaxoSmithKline Consumer Healthcare (Overseas) Limited and GlaxoSmithKline Consumer Healthcare Holdings (US) LLC] on or around the date of this Agreement;

		
	 “Treasury Side Letter”
	  	 means the letter agreement between GSKCHHL, Pfizer, PFCHHL, GSK and JVCo dated 4 November 2021 pursuant to which the
parties thereto have agreed the interpretation, and confirmed the application, of certain provisions of the Cosmos SHA;

		
	 “Trexco”
	  	 means Trexco Limited, a company incorporated in England with number 00461588, having its registered office at 2 Lambs
Passage, London, EC1Y 8BB;

		
	 “VAT”
	  	 means:
  

(i) any value added tax imposed by VATA and legislation and regulations supplemental
thereto;
  

(ii)  to the extent not included in paragraph (i) above, any Tax imposed in
compliance with the council directive of 28 November 2006 on the common system of value added tax (EC Directive 2006/112); and
  

(iii)  any other Tax of a similar nature to the Taxes referred to in paragraph
(i) or paragraph (ii) above, whether imposed in the UK or a member state of the EU in substitution for, or levied in addition to, the Taxes referred to in paragraph (i) or paragraph (ii) above or imposed
elsewhere;

		
	 “VATA”
	  	 means the Value Added Tax Act 1994; and

		
	 “Working Hours”
	  	 means 9.30 a.m. to 5.30 p.m. (local time) on a Business Day.

  
 30 

	1.2	 In this Agreement, unless otherwise specified: 

 

	 	(A)	 references to clauses, sub clauses, paragraphs, sub paragraphs, and Schedules are to clauses, sub clauses,
paragraphs, sub paragraphs of, and Schedules to, this Agreement; 

   

	 	(B)	 use of any gender includes the other genders and (unless the context otherwise requires) the singular shall
include the plural and vice versa; 

  

	 	(C)	 references to a “company” shall be construed so as to include any corporation or other body
corporate, wherever and however incorporated or established; 

  

	 	(D)	 references to a “person” shall be construed so as to include any individual, firm, company,
corporation, body corporate, government, state or agency of a state, local or municipal authority or government body or any joint venture, association or partnership (whether or not having separate legal personality); 

 

	 	(E)	 references to a “holding company” or a “subsidiary” shall be construed as
a holding company or subsidiary (as the case may be) as defined in section 1159 of the Companies Act 2006; 

  

	 	(F)	 references to a “body corporate” shall be construed as a body corporate as defined in
section 1173 of the Companies Act 2006; 

  

	 	(G)	 references to a “parent undertaking” shall be construed as a parent undertaking as defined
in section 1162 of the Companies Act 2006; 

   

	 	(H)	 references to a “party” shall be construed so as to include a reference to that
party’s successors and permitted assigns; 

  

	 	(I)	 a reference to any statute or statutory provision or other regulation shall be construed as a reference to
the same as it may have been, or may from time to time be, amended, modified or re-enacted and shall include any subordinate legislation made from time to time under that statute or statutory provision, except
to the extent that any amendment or modification made after the date of this Agreement would increase or alter the liability of any Party under this Agreement; 

 

	 	(J)	 references to “include” and “including” shall be deemed to be followed by
the words “without limitation”; 

  

	 	(K)	 any reference to a “day” (including within the phrase “Business Day”)
shall mean a period of 24 hours running from midnight to midnight; 

  

	 	(L)	 references to times are to London time (unless otherwise stated); 

 

	 	(M)	 reference to “liabilities”, “costs” and/or “expenses”
incurred by a person shall not include any amount in respect of VAT or any Tax of a similar nature included in such liabilities, costs and/or expenses for which that person or any other member of its Group is entitled to credit or repayment from any
Tax Authority; 

  
 31 

	 	(N)	 references to “indemnify” any person against any circumstance shall include indemnifying
and keeping such person harmless from all actions, claims and proceedings from time to time made against such person and all loss, damage, payments, costs or expenses suffered, made or incurred by such person as a consequence of that circumstance
and, unless otherwise specified, any indemnity given in this Agreement shall be deemed to have been given on an after-Tax basis; 

 

	 	(O)	 any indemnity or obligation to pay (the “Payment Obligation”) being given or assumed on an
“after-Tax basis” or expressed to be “calculated on an after-Tax basis” means that the amount payable pursuant to such Payment
Obligation (the “Payment”) shall be calculated in such a manner as will ensure that, after taking into account: 

  

	 	(i)	 any Tax required to be deducted or withheld from the Payment; 

 

	 	(ii)	 the amount and timing of any additional Tax which becomes (or would, but for the use of any credit or other
relief which would otherwise have been available to reduce the Tax liabilities of any member of the Pfizer Group, the Consumer Healthcare Group or the GSK Group, as the case may be, have become) payable as a result of the Payment’s being
subject to Tax; and 

  

	 	(iii)	 the amount and timing of any Tax benefit which is obtained, to the extent that such Tax benefit is
attributable to the matter giving rise to the Payment Obligation, 

 the recipient of the Payment is in the
same position as that in which it would have been if the matter giving rise to the Payment Obligation had not occurred (or, in the case of a Payment Obligation arising by reference to a matter affecting a person other than the recipient of the
Payment, the recipient of the Payment and that other person are, taken together, in the same position as that in which they would have been had the matter giving rise to the Payment Obligation not occurred), provided that the amount of the Payment
shall not exceed that which it would have been if it had been regarded for all Tax purposes as received solely by the recipient and not any other person; 
  

	 	(P)	 references to a “liability to Tax” or “Tax payable” (and equivalent terms)
include circumstances where Tax would be (or become) payable but for the use of a Relief (as such term is defined in the Tax Covenant); 

  

	 	(Q)	 a reference to any other document referred to in this Agreement is a reference to that other document as
amended, varied, novated or supplemented (other than in breach of the provisions of this Agreement or that other document) at any time; 

  

	 	(R)	 a reference to any English legal term for any action, remedy, method of judicial proceeding, legal document,
legal status, court, official or any legal concept or thing shall in respect of any jurisdiction other than England be treated as a reference to any analogous term in that jurisdiction; and 

  
 32 

	 	(S)	 the rule known as the ejusdem generis rule shall not apply and accordingly: 

 

	 	(i)	 general words introduced by the word “other” shall not be given a restrictive meaning by reason of
the fact that they are preceded by words indicating a particular class of acts, matters or things; and 

  

	 	(ii)	 general words shall not be given a restrictive meaning by reason of the fact that they are followed by
particular examples intended to be embraced by the general words. 

  

	1.3	 In this Agreement, unless otherwise specified: 

 

	 	(A)	 all headings and titles are inserted for convenience only and are to be ignored in the interpretation of
this Agreement; and 

  

	 	(B)	 the Schedules form part of this Agreement and shall have the same force and effect as if expressly set out
in the body of this Agreement, and any reference to this Agreement shall include the Schedules. 

  

	1.4	 In this Agreement: 

 

	 	(A)	 references to members of Pfizer Group’s or members of GSK Group’s aggregate holding of Haleon
Ordinary Shares shall include both Haleon Ordinary Shares held directly in the form of shares and Haleon Ordinary Shares held indirectly as a result of a holding of Haleon ADSs. 

 

	2.	 CO-OPERATION AND IMPLEMENTATION 

Co-operation and implementation 

 

	2.1	 From the date of this Agreement and without prejudice to the generality of the obligations of the Parties
pursuant to the Cosmos SHA in relation to achieving Admission, each Party hereby agrees and undertakes: 

  

	 	(A)	 to the extent that any Ancillary Agreement has not been executed and delivered as at the date of this
Agreement, to procure that it or any member of its Group that is proposed to be party to such Ancillary Agreement shall execute and deliver such Ancillary Agreement in the Agreed Form when reasonably requested by GSK to do so and, in any event at or
before Completion; 

   

	 	(B)	 to perform any and all of its obligations pursuant to any Ancillary Agreement to which it is party;

  

	 	(C)	 to procure the due performance of any and all obligations of the members of its Group (and to exercise such
rights and powers as it has to procure the performance of obligations of any other person) pursuant to any Ancillary Agreement to which such members of its Group are party; 

 

	 	(D)	 to ensure that it and members of its Group shall do all such acts and things (and co-operate with the other Parties and their Groups) as may reasonably be necessary for the purpose of consummating successfully the Separation Transaction as a Listing Transaction for the purposes of and in
accordance with the Cosmos SHA and this Agreement, including (without limitation): 

  

	 	(i)	 procuring the production, approval and publication of the Prospectus, including (without limitation):

  

	 	(a)	 procuring that any person who will be a director of Haleon following Admission and who was nominated as such
by such Party provides all necessary information relating to themselves and takes responsibility as required by applicable Law for the Prospectus (and delivering all necessary or customary consents regarding the publication of the same);

  
 33 

	 	(b)	 providing all information required by or in relation to such Party or any member of its Group that is
required by Law for the Prospectus; and 

  

	 	(c)	 giving any undertaking, representation or comfort letter (and procuring that members of its Group give any
undertakings, representations or comfort letters) required under the Sponsors’ Agreements or otherwise by any sponsors or financial advisers or accountants to Haleon appointed for the purposes of Admission, provided that such undertaking,
representation or comfort letter is on customary and reasonable terms; 

  

	 	(ii)	 taking all reasonable steps to ensure that the Demerger is an exempt distribution (as defined in section
1075 CTA 2010); 

  

	 	(iii)	 the Pfizer Group PFCHHL Transferor exchanging its shares in the capital of PFCHHL for the issuance of the
Pfizer Haleon Exchange Shares to the Pfizer Group PFCHHL Transferor and the Depositary pursuant to and in accordance with the Pfizer Exchange Agreement; 

   

	 	(iv)	 GSK exchanging its entire shareholding of B Shares for the GSK Haleon Exchange Shares pursuant to and in
accordance with the GSK Exchange Agreement; and 

  

	 	(v)	 GSK and the relevant members of its Group procuring and exercising all such rights as it or they have to
procure that each SLP exchanges its entire shareholding of C Shares for the SLP Haleon Exchange Shares pursuant to and in accordance with, and otherwise complies with its obligations under, the SLP Exchange Agreement; 

  
 34 

	 	(E)	 to use all reasonable endeavours to procure that (and procure that the members of its Group shall procure
that) any necessary Third Party (including, without limitation, sponsors and accountants) execute such documents and do all such acts or things as may be reasonably required for the purpose of giving each party to a Transaction Document the full
benefit of the relevant provisions of such Transaction Document, in each case, subject to the terms of the Cosmos Agreements; 

  

	 	(F)	 to use all reasonable endeavours to procure the successful establishment of the Haleon ADR Programme in
accordance with the Steps Plan; and 

  

	 	(G)	 to use all reasonable endeavours to procure, after payment by JVCo of the Final Quarterly Dividend, the
Final Sweep Dividend and the Pre-Separation Dividend, the completion of the ATB Re-organisation. 

Delivery of listing documentation 
  

	2.2	 Each Party agrees, undertakes and confirms that, without prejudice to the generality of the obligations of
the Parties pursuant to the Cosmos SHA, and subject in all respects to the Cosmos SHA, it shall, and shall procure that relevant members of its Group shall: 

  

	 	(A)	 provide any and all information and assistance reasonably required by GSK and/or Haleon to consummate
successfully the Separation Transaction as a Listing Transaction for the purposes of and in accordance with the Cosmos SHA; and 

  

	 	(B)	 execute, deliver and approve (as required) all documents required to consummate successfully the Separation
Transaction as a Listing Transaction for the purposes of and in accordance with the Cosmos SHA, including (without limitation), the Prospectus, the Circular and the Listing Ancillary Agreements, in each case subject to any approval and/or
consultation rights it may have in the Cosmos SHA with respect to such documents. 

 Ancillary Agreements 

 

	2.3	 The Parties hereby agree and acknowledge that: 

 

	 	(A)	 the Ancillary Agreements are in Agreed Form; 

 

	 	(B)	 GSK, as controller of the process to effect the Separation Transaction in accordance with the Cosmos SHA,
may request amendments to the Ancillary Agreements and may request any of the Parties and/or any members of any of their Groups to enter into other agreements in connection with the Separation Transaction, in each case, to the extent permitted by,
and subject in all respects to, the Cosmos SAPA, Cosmos SHA or any other agreements between members of the GSK Group, members of the Haleon Group and/or members of the Pfizer Group in relation to the same; and 

  
 35 

	 	(C)	 (i) the Ancillary Agreements and (ii) any other agreements that GSK may request from any of the Parties
and/or any members of any of their Groups to enter into in connection with the Separation Transaction, in each case to the extent their agreement is required pursuant to the terms of the Cosmos SAPA, Cosmos SHA or any other agreements between
members of the GSK Group, members of the Haleon Group and/or members of the Pfizer Group, as agreed by each of Haleon and Pfizer (whether or not parties thereto), shall be executed and delivered by the parties thereto, subject in all respects to the
Cosmos SHA and such other agreements; it being understood and agreed that nothing in this clause 2.3 shall expand the rights or obligations of any of the parties to the Cosmos SHA or any such other agreements, and nothing in this clause
2.3 shall require any party to enter into any agreement or any amendment to any agreement except to the extent that such party is required to enter into such agreement or amendment pursuant to the terms of the Cosmos SAPA, Cosmos SHA or any
other relevant agreement to which such party is bound. 

 Confirmations and further assurance 

 

	2.4	 The Parties agree and acknowledge that they shall comply in all respects with the Cosmos SHA and shall
procure such compliance by the members of their respective Groups. For the avoidance of doubt, the Parties agree and acknowledge that this Agreement is without prejudice to GSK’s and Pfizer’s rights under the Cosmos SHA, the Cosmos SCA,
the SCA Side Letter, the Treasury Side Letter and the obligations of Pfizer, GSK and the members of the Pfizer Group and the GSK Group pursuant to the terms of the Cosmos SHA, the Cosmos SCA, the SCA Side Letter, and the Treasury Side Letter;
provided that, notwithstanding anything to the contrary in this Agreement or the Cosmos SHA, the Cosmos SCA or the Treasury Side Letter, (1) the issuance to the Pfizer Group PFCHHL Transferor of the Haleon NVPS pursuant to the Pfizer Share
Exchange and the sale or disposition of the Haleon NVPS by the Pfizer Group PFCHHL Transferor immediately thereafter and (2) the distribution referred to in limb (ii) of the definition of ATB
Re-organisation shall be expressly permitted for all purposes hereunder and thereunder. 

   

	2.5	 The Parties hereby confirm in all respects and for all purposes under the Cosmos SHA and Cosmos SCA that
they approve, consent and agree to the form, terms, contents, performance and implementation and/or activation of the following agreements, instruments, arrangements and actions in the Agreed Form, and that, as applicable, all obligations to consult
with any other entity have been fully discharged in respect of the same: 

  

	 	(A)	 the Demerger Agreement; 

 

	 	(B)	 the Exchange Agreements; 

 

	 	(C)	 the Ancillary Agreements; 

 

	 	(D)	 the Sponsors’ Agreements; 

 

	 	(E)	 the Lock-up Deed entry into which the Parties acknowledge discharges
the obligations of the relevant parties under clause 17.34(E) of the Cosmos SHA; 

  
 36 

	 	(F)	 the Pfizer Relationship Agreement, entry into which the Parties acknowledge discharges the obligations of
the relevant parties under clause 17.34(C)(i) of the Cosmos SHA (it being acknowledged that, taking into account the extent of GSK’s prospective interest in Haleon, there will be no relationship agreement between GSK and Haleon);

  

	 	(G)	 the Registration Rights Agreement, entry into which the Parties acknowledge discharges the obligations of
the relevant parties to enter into a registration rights agreement under clause 18.2 of the Cosmos SHA; 

  

	 	(H)	 the appointment of Deloitte LLP as auditor to Haleon; 

 

	 	(I)	 the appointment of the Sponsors as Haleon’s sponsors; 

 

	 	(J)	 the appointment of Slaughter and May as UK legal counsel to Haleon in relation to Admission and the
Separation Transaction; 

  

	 	(K)	 the appointment of Freshfields Bruckhaus Deringer LLP and Sullivan & Cromwell LLP as independent
legal counsel to Haleon in relation to Admission and the Separation Transaction; 

  

	 	(L)	 all actions undertaken to implement the Steps Plan and the matters set out therein, including (without
limitation) the ATB Re-organisation [and any Pfizer exit related re organization]; 

  

	 	(M)	 all actions required for Haleon to obtain directors’ and officers’ liability insurance effective
as of Admission in accordance with the Cosmos SHA; 

  

	 	(N)	 all actions taken to terminate or replace existing powers of attorney and bank mandates within the Consumer
Healthcare Group; 

  

	 	(O)	 the following governance arrangements of Haleon: 

 

	 	(i)	 the registered name of Haleon; 

 

	 	(ii)	 [the composition of its board of directors and management as detailed in the Prospectus, subject to and
without limiting the rights of Pfizer set forth in clause 18.1 of the Cosmos SHA (and, following Admission, paragraph 3 of Part A of Schedule 2 (Continuing Cosmos SHA Provisions and Post-Completion Matters)) and the Pfizer
Relationship Agreement; 

  

	 	(iii)	 arrangements regarding its governance committees and committees and
sub-committees of its board of directors as detailed in the Prospectus and the form of the Haleon Committee Terms of Reference; 

  
 37 

	 	(iv)	 the summary of its remuneration policy as detailed in the Prospectus; and 

 

	 	(v)	 its corporate policies and procedures as approved by the Haleon Board prior to the date of this Agreement,
including (without limitation) its anti-bribery and corruption policy as adopted on [23 May 2022] and its code of promotion as adopted on [23 May 2022]; 

  

	 	(P)	 adoption by Haleon of the New Haleon Articles of Association in the Agreed Form; 

 

	 	(Q)	 adoption by JVCo of the New JVCo Articles of Association in the Agreed Form; 

 

	 	(R)	 Haleon’s dividend policy as detailed in the Prospectus; 

 

	 	(S)	 the establishment or incurrence of borrowings or other financing arrangements in accordance with and
pursuant to the Treasury Side Letter; 

  

	 	(T)	 Haleon effecting any reduction of capital after Admission; and 

 

	 	(U)	 25 February 2023 being, as at the date of this Agreement, the current date of expiry of the GSK
Separation Execution Period (as defined in the Cosmos SHA) for the purposes of the Cosmos SHA, subject to any extensions to such GSK Separation Execution Period for the purposes of the Cosmos SHA in accordance with and pursuant to clause 17.13 of
the Cosmos SHA. 

   

	2.6	 The Parties: 

  

	 	(A)	 hereby agree and acknowledge that implementation of the proposed governance arrangements of Haleon at
Admission specified in clause 2.5(O), is expected to result in: 

   

	 	(i)	 at least half of the Haleon Board, excluding the chair, being
non-executive directors whom the Haleon Board considers to be independent; and 

  

	 	(ii)	 the appointment of a chair of the Haleon Board who the Haleon Board considers to be independent on
appointment 

  (with independence tested in each case against the circumstances set out in provision 10
of the Governance Code) (it being understood no continuing director, officer or employee of either GSK or Pfizer or any member of their respective Groups shall be considered independent and it being further understood, agreed and acknowledged that
Haleon shall not appoint any continuing director, officer or employee of the GSK Group to the Haleon Board); and 
   

	 	(B)	 hereby agree and undertake not to vary such governance arrangements prior to Admission in any way that will
or may result in Haleon not complying in all material respects with the recommendations of the Governance Code, 

provided that if supervening natural events (such as death, incapacity or disability) mean that a particular individual or
individuals otherwise expected at the Posting Date to be or become a member of the Haleon Board will not be part of the Haleon Board, and as a result the foregoing outcomes will not be achieved, such matter shall, if not reasonably capable of being
addressed reasonably promptly prior to Admission, be a matter for the 

  
 38 

 
Haleon Board to address in the normal course and reasonably promptly; provided further that nothing in this clause 2.6 shall prejudice Pfizer’s rights pursuant to the Relationship
Agreement or paragraph 3 of Part A of Schedule 2 (Continuing Cosmos SHA Provisions and Post-Completion Matters). 
  

	2.7	 Without prejudice to the appointments to the Haleon Board as set out in the current draft Prospectus and/or
pursuant to the Pfizer Relationship Agreement, GSK and Pfizer agree and undertake: 

  

	 	(A)	 to procure the resignation of their respective nominee directors who are not continuing as directors of
Haleon as of Admission from the boards of directors of all Consumer Healthcare Group Companies, such resignations to take effect from Admission; and 

  

	 	(B)	 to procure that their respective Groups provide all reasonable assistance and use all reasonable endeavours
to procure the resignation of such nominee directors as referred to in clause 2.7(A), 

 and the
Parties agree to procure that each relevant Consumer Healthcare Group Company shall confirm, on customary terms and in customary form, that it does not have any claim or right of action whatsoever outstanding against any resigning nominee director
as referred to in clause 2.7(A) and that, to the extent such claim or right of action exists or may exist, the relevant Consumer Healthcare Group Company waives such claim and releases the relevant resigning nominee director from any
liability that such resigning nominee director has or might have in respect thereof. 
  

	2.8	 For the avoidance of doubt: 

 

	 	(A)	 the proposed appointments to the Haleon Board as set out in the current draft Prospectus and/or pursuant to
the Pfizer Relationship Agreement, are prospective appointments; and 

  

	 	(B)	 such appointments shall only be effective from Admission. 

 

	2.9	 GSK and Pfizer agree and undertake that they shall each (and shall procure that the relevant members of
their respective Groups and their respective employees and employees of relevant members of their respective Groups shall) deliver any requisite consent, including (without limitation) approval of the special resolution of Haleon’s shareholders
required pursuant to section 641(1)(b) of the Companies Act 2006 and a form of consent qua creditor, in any reasonable and customary form requested by Haleon in connection with any reduction of capital to be effected by Haleon after Admission such
that the same, including (without limitation) the special resolution of Haleon’s shareholders required pursuant to section 641(1)(b) of the Companies Act 2006, can be presented to the court that will be requested to approve such reduction of
capital. 

  

	2.10	 Anacor and Pfizer agree and undertake that, if completion of the PFCHHL Transfer has not occurred prior to
Demerger Completion, then Anacor and Pfizer shall ensure that the PFCHHL Transfer shall not occur prior to Completion of the Pfizer Share Exchange. 

  

	2.11	 In the event that any Party identifies a need to obtain or complete a mandatory regulatory notification,
consent or clearance process, in each case, as required by applicable Law, in order to permit the implementation of the Separation Transaction and any related corporate restructuring steps (including, for the avoidance of doubt, the PFCHHL Transfer
or the Shares Exchanges), the Parties hereby agree that they shall discuss such matter in good faith and with expedition, and if GSK and Pfizer agree, acting reasonably and in good faith in reaching such determination, that such notification,
consent and/or clearance is required to be obtained or completed in order to permit the implementation of the Separation Transaction and any related corporate restructuring steps (including, for the avoidance of doubt, the PFCHHL Transfer or the
Shares Exchanges) in compliance with applicable Law, the Parties agree to co-operate in good faith and with expedition, to obtain or complete such regulatory notification, consent or clearance process and enter into, and procure that relevant
members of their respective Groups enter into, one or more amendments to this Agreement (and any other agreements entered into or to be entered into by them and any member of their respective Groups in connection with the Separation Transaction) as
is reasonably necessary in connection with such regulatory notification, consent and/or clearance process, and (including, for the avoidance of doubt, by expanding the Demerger Conditions Precedent and the Regulatory Conditions to include such
regulatory notification, consent and/or clearance process). 

   

	3.	 SEPARATION PROCESS AND TERMINATION 

 

	3.1	 The Parties agree and acknowledge that, as and to the extent provided in clause 17.29 of the Cosmos SHA, GSK
and GSKCHHL shall (except as specifically set forth in clause 17.29 of the Cosmos SHA): 

  

	 	(A)	 have absolute discretion from time to time as to the structure and process of the Separation Transaction;
and 

  
 39 

	 	(B)	 without limitation and in their absolute discretion (save as to the extent that the Cosmos SCA provides
otherwise) be entitled to (and, where specifically noted therein, shall be required to) take any step or action set out in clauses 17.29(A) to 17.29(K) (inclusive) of the Cosmos SHA. 

 

	3.2	 Notwithstanding any other provision of any Transaction Document (but subject to the Cosmos SHA), the Parties
hereby agree and acknowledge that GSK shall have the right in its absolute discretion to abandon the Separation Transaction by providing notice of the same in writing to the other Parties at any time prior to Demerger Completion, and upon GSK
providing such notice this Agreement shall automatically terminate. 

  

	3.3	 The Parties hereby agree and acknowledge that, in the event that this Agreement is terminated pursuant to
clause 3.1: 

  

	 	(A)	 GSK, JVCo and each member of their respective Groups shall have no liability to Pfizer, PFCHHL or any member
of their respective Groups, in each case in connection with such termination and in each case save to the extent the Cosmos SCA provides otherwise; 

  

	 	(B)	 without prejudice to clause 17.34(G) of the Cosmos SHA, Pfizer and PFCHHL shall not (and shall procure that
no member of their respective Groups shall) seek to obtain any financial compensation or other remedy from GSK, JVCo or any member of their respective Groups, 

in each case of clauses (A) and (B) in connection with such termination and in each case save to the extent the Cosmos SCA
provides otherwise; 
  

	 	(C)	 this Agreement shall be of no further force or effect; and 

 

	 	(D)	 for the avoidance of doubt, the Cosmos SHA shall continue in full force and effect. 

 

	3.4	 Save as provided in clause 3.1, no Party shall have the right to rescind or unilaterally terminate
this Agreement, whether before or after Completion. 

  

	4.	 DIVIDENDS 

  

	4.1	 Each Party shall take all actions that it is able to take and shall procure, so far as it is able to do so
(and shall procure that the members of its Group shall procure, so far as they are able to do so), that all actions able to be taken are taken so that, prior to commencement of the Demerger Completion Steps: 

 

	 	(A)	 JVCo shall declare and pay the Final Quarterly Dividend to GSKCHHL and PFCHHL; 

 

	 	(B)	 GSKCHHL shall declare and pay the Final Quarterly GSKCHHL Onward Dividend to GSK (as holder of the A Shares
and the B Shares) and (if and only to the extent the SLPs are entitled to receive such dividend under the GSKCHHL Articles of Association) to the SLPs (as holders of the C Shares); 

  
 40 

	 	(C)	 PFCHHL shall declare and pay or otherwise effect the Final Quarterly PFCHHL Onward Dividend to Pfizer or
Anacor, as applicable; 

 and each Party shall take all actions that it is able to take and shall procure,
so far as it is able to do so (and shall procure that the members of its Group shall procure, so far as they are able to do so), that all actions able to be taken are taken so that, prior to commencement of the Demerger Completion Steps and
following satisfaction of the Regulatory Conditions: 
   

	 	(D)	 JVCo shall, at a time notified by GSK reasonably in advance of proposed payment (which time shall be agreed
between GSK and Pfizer in accordance with the Treasury Side Letter), declare and pay a final pre-Demerger interim dividend to GSKCHHL and PFCHHL in proportion to their respective Percentage Interests in JVCo
as at the relevant record date in respect of the period to and including [•] 2022 comprising the Final Sweep Dividend which, as provided in the Treasury Side Letter, shall be calculated by reference to a good faith estimate of what the Sweep
Amount will be as at the Listing Date, such estimate being made in accordance with the Treasury Side Letter; 

  

	 	(E)	 GSKCHHL shall declare and pay a final pre-Demerger interim dividend
to GSK (as holder of the A Shares and the B Shares) and (if any, only to the extent the SLPs are entitled to receive such dividend under the GSKCHHL Articles of Association) to the SLPs (as the holders of the C Shares) in accordance with the GSKCHHL
Articles of Association comprising amounts received by GSKCHHL pursuant to (D) above and constituting the Final Sweep GSKCHHL Onward Dividend; 

  

	 	(F)	 PFCHHL shall declare and pay or otherwise effect a final
pre-Demerger interim dividend to Pfizer or Anacor, as applicable, comprising amounts received by it pursuant to (D) above and constituting the Final Sweep PFCHHL Onward Dividend;

  

	 	(G)	 consistent with the provisions of clause 4.4, following repayment of any outstanding Shareholder
Loans under clause 17.32(A) of the Cosmos SHA, JVCo shall, at a time notified by GSK reasonably in advance of proposed payment (which time shall be agreed between GSK and Pfizer in accordance with the Treasury Side Letter and shall be reasonably in
advance of the commencement of the Demerger Completion Steps to allow sufficient time for the payments described in (H) and (I) below to be made prior to the commencement of the Demerger Completion Steps), declare and pay the Pre-Separation Dividend to GSKCHHL and PFCHHL in proportion to their respective Percentage Interests in JVCo; 

  

	 	(H)	 consistent with the provisions of clause 4.4, GSKCHHL shall declare and pay the Pre-Separation GSKCHHL Onward Dividend (comprising amounts received by it pursuant to (G) above) to GSK in respect of the A Shares and the B Shares and the Parties hereby agree and acknowledge that,
subject to (G) above, it is GSK’s responsibility to ensure that the Pre-Separation GSKCHHL Onward Dividend is declared and paid prior to the commencement of the Demerger Completion Steps;

  

	 	(I)	 consistent with the provisions of clause 4.4, PFCHHL shall declare and pay or otherwise effect the Pre-Separation PFCHHL Onward Dividend (comprising amounts received by it pursuant to (G) above) to Pfizer or Anacor, as applicable, and the Parties hereby agree and acknowledge that, subject to
(G) above, it is Pfizer’s responsibility to ensure that the Pre-Separation PFCHHL Onward Dividend is declared and paid or otherwise effected prior to the commencement of the Demerger Completion
Steps; 

  
 41 

	 	(J)	 GSKCHHL shall declare and pay to GSK (as holder of the A Shares and the B Shares) and (if and only to the
extent that the SLPs are entitled to receive such dividend under the GSKCHHL Articles of Association) to the SLPs a dividend comprising amounts received by GSKCHHL as dividends paid by JVCo and which are directly referable to dividends received by
GSKCHHL from JVCo since Cosmos Closing (if any and other than amounts received by GSKCHHL pursuant to (A), (D) and/or (G) above); and 

 

	 	(K)	 PFCHHL shall declare and pay or otherwise effect to Pfizer or Anacor, as applicable, a dividend comprising
amounts received by PFCHHL as dividends paid by JVCo and which are directly referable to dividends received by PFCHHL from JVCo since Cosmos Closing (if any and other than amounts received by PFCHHL pursuant to (A), (D) and/or
(G) above). 

   

	4.2	 For the avoidance of doubt, the payment of the Final Sweep Dividend shall be paid separately from the Pre-Separation Dividend and no amount of cash taken into account in calculating the amount of the Pre-Separation Dividend shall also be taken into account in calculating the
amount of the Final Sweep Dividend. 

  

	4.3	 For the avoidance of doubt, the Parties agree and acknowledge that: 

 

	 	(A)	 it is Pfizer’s responsibility to ensure that the PFCHHL Onward Dividends are declared and paid or
otherwise effected prior to the commencement of the Demerger Completion Steps and promptly and as soon as possible after receipt by PFCHHL of the later of: (i) the relevant portion of the Pre-Separation
Dividend; and (ii) the relevant portion of the Final Sweep Dividend; provided that, notwithstanding anything to the contrary herein or in any Transaction Document, Pfizer may, in its sole discretion, cause the PFCHHL Onward Dividends to be paid
following the completion of the PFCHHL Transfer but, in all events, prior to completion of the Pfizer Share Exchange; 

  

	 	(B)	 it is GSK’s responsibility to ensure that the GSKCHHL Onward Dividends are declared and paid prior to
the commencement of the Demerger Completion Steps and promptly and as soon as possible after receipt by GSKCHHL of the later of: (i) the relevant portion of the Pre-Separation Dividend; and (ii) the
relevant portion of the Final Sweep Dividend. 

  

	4.4	 The Parties further agree to co-operate and take all necessary
actions so that the Final Sweep Dividend and the Pre-Separation Dividend shall be paid by JVCo [following satisfaction of the Regulatory Conditions and as soon as possible following the passing of the Demerger
Resolution and the Related Party Transactions Resolution by GSK Shareholders at the GSK General Meeting and in any event by 23:59 PM on the day immediately prior to the day specified in the Steps Plan for Demerger Completion.] The Parties hereby
agree and acknowledge that, on the basis set out in the immediately preceding sentence, there is sufficient time for payment or completion of the PFCHHL Onward Dividends and the GSKCHHL Onward Dividends ahead of Demerger Completion and completion of
the Share Exchanges. 

  
 42 

	4.5	 [Subject to the Pre-Separation Dividend and the Final Sweep Dividend
having been paid by JVCo in accordance with the timing specified in clause 4.4, Demerger Completion shall occur pursuant to and at the time and date specified in the Demerger Agreement and completion of each Share Exchange shall occur
pursuant to and at the time and date specified in the applicable Exchange Agreement. In the event that the Pre-Separation Dividend and/or the Final Sweep Dividend have not been paid by JVCo in accordance with
the timing specified in clause 4.4: 

  

	 	(A)	 the Parties agree that they shall co-operate to procure the payment
of the Pre-Separation Dividend and/or the Final Sweep Dividend (as applicable) by JVCo as soon as possible after such time; 

 

	 	(B)	 Pfizer agrees that it shall procure the payment or completion of the PFCHHL Onward Dividends as soon as
possible following payment of the relevant portion of the Pre-Separation Dividend and/or the Final Sweep Dividend (as applicable) to PFCHHL pursuant to clause 4.5(A); 

 

	 	(C)	 GSK agrees that it shall procure the payment of the GSKCHHL Onward Dividends as soon as possible following
payment of the relevant portion of the Pre-Separation Dividend and/or the Final Sweep Dividend (as applicable) to GSKCHHL pursuant to clause 4.5(A); 

 

	 	(D)	 provided that the PFCHHL Onward Dividends and the GSKCHHL Onward Dividends have been paid or effected before
[23:59] PM on the date specified in the Steps Plan for Demerger Completion, then, notwithstanding any failure to pay the Pre-Separation Dividend and/or the Final Sweep Dividend in accordance with the
timing specified in clause 4.4, Demerger Completion, completion of the Share Exchanges and Admission shall occur in accordance with the relevant times and dates specified in the Steps Plan; and 

 

	 	(E)	 if any of the PFCHHL Onward Dividends and/or the GSKCHHL Onward Dividends are not paid or effected by PFCHHL
and/or GSKCHHL (as applicable) prior to 23:59 PM on the date specified in the Steps Plan for Demerger Completion, then the Parties agree that: 

  

	 	(i)	 the dates specified in the Steps Plan for Demerger Completion, completion of the Share Exchanges and
Admission shall each be delayed by one calendar week; 

  

	 	(ii)	 the Parties shall make necessary amendments to the Demerger Agreement, each of the Exchange Agreements and
any other Transaction Documents to reflect the same; 

  

	 	(iii)	 Pfizer shall take all reasonably necessary actions to prepare for and procure the payment or completion of
the PFCHHL Onward Dividends in accordance with the timing detailed in clause 4.3(A); 

  

	 	(iv)	 GSK shall take all reasonably necessary actions to prepare for and procure the payment of the GSKCHHL Onward
Dividends in accordance with the timing detailed in clause 4.3(B); and 

  

	 	(v)	 notwithstanding anything in this Agreement or the Demerger Agreement to the contrary, and without limiting
the obligations of Haleon pursuant to the Dividend Indemnities, the Parties expressly agree that Haleon shall hold any portions of the PFCHHL Onward Dividends and/or the GSKCHHL Onward Dividends, as applicable, that are not paid or otherwise
effected by PFCHHL or GSKCHHL prior to such time, due to a settlement failure or otherwise, on trust for the Pfizer Group or the GSK Group, as applicable, and shall cooperate with the Pfizer Group or the GSK Group, as applicable, to take all
reasonably necessary actions to establish alternative arrangements for, and to procure, the payment of such amounts to designees of the Pfizer Group or the GSK Group, as applicable, as soon as reasonably practicable. 

 

	4.6	 JVCo shall only be required to declare and/or pay dividend(s) in accordance with this clause 4
to the extent that: 

  

	 	(A)	 it has sufficient distributable reserves and, without limiting the obligations of any Party under the Cosmos
SHA, the Treasury Side Letter and/or this Agreement, the JVCo Board resolves to do so; 

  

	 	(B)	 there are no amounts outstanding (in respect of interest, principal or otherwise) under any JVCo Shareholder
Loan(s); and 

  
 43 

	 	(C)	 there are no outstanding special dividends in respect of payment obligations pursuant to clause 10.1 of the
Cosmos SHA which have been declared or become payable. 

  

	4.7	 Except where dividends are to be paid in a currency other than Sterling in accordance with the terms of the
Cosmos SAPA, dividends shall be paid in Sterling. The Final Quarterly Dividend shall be paid on or around [●]. The Final Sweep Dividend and Pre-Separation Dividend shall be paid to GSKCHHL and PFCHHL on
the same day (and are expected to be paid on [●]). All dividends shall be paid or settled by inter-bank transfer, by other electronic means for same day value directly to an account with a bank or other financial institution (or other
organisations operating deposit accounts) as notified in writing by GSKCHHL or PFCHHL (as applicable) to JVCo, or by settling existing intercompany debt balances. For dividends being paid by inter-bank transfer or by other electronic means then, in
the absence of any notification required pursuant to the immediately preceding sentence, JVCo shall hold the amount of the relevant dividend on trust for GSKCHHL or PFCHHL (as applicable). 

 

	4.8	 The Parties shall, subject to and in accordance with the Cosmos SHA and the Treasury Side Letter:

  

	 	(A)	 cooperate and take such steps as are reasonably required in connection with distributable reserves planning
for JVCo and its Group to enable the payment of the Final Quarterly Dividend, the Final Sweep Dividend and the Pre-Separation Dividend; and 

 

	 	(B)	 cooperate in good faith to determine the timing of all dividends and payments contemplated by this
clause 4 so as to ensure, so far as they are each able to do so, that each such dividend and payment is paid and made prior to the commencement of the Demerger Completion Steps. 

 

	4.9	 JVCo shall, so far as it is legally able to do so, procure that (and GSKCHHL and PFCHHL shall, so far as
they are legally able to do so, exercise their rights in relation to JVCo and under this Agreement and the Cosmos SHA to procure that) all resolutions for the declaration or payment of dividends or other payments consistent with this
clause 4 are duly passed by the relevant members of the JVCo Group and the JVCo Board (as applicable). 

  

	4.10	 In the event that any of: 

 

	 	(A)	 the Final Quarterly Dividend; 

 

	 	(B)	 the Final Sweep Dividend; 

 

	 	(C)	 the Pre-Separation Dividend; 

 

	 	(D)	 the other dividends paid by JVCo since Cosmos Closing; 

 

	 	(E)	 the Final Quarterly Onward Dividends; 

 

	 	(F)	 the Final Sweep Onward Dividends; 

  
 44 

	 	(G)	 the Pre-Separation Onward Dividends; and 

 

	 	(H)	 the dividends distributions or transfers paid by GSKCHHL and/or PFCHHL since Cosmos Closing to the extent
directly referable to dividends received by GSKCHHL and/or PFCHHL (as applicable) from JVCo since Cosmos Closing, 

are in any respect defective or are susceptible to legal challenge, Haleon agrees and undertakes to take or procure all
possible steps, (including, without limitation, distributable reserves planning and management; rectification and ratification steps; and procuring that none of JVCo, GSKCHHL or PFCHHL or any other member of Haleon’s Group take steps to seek
recovery of prior distributions, transfers or dividend payments) such that any amounts received by any member of the GSK Group or any member of the Pfizer Group pursuant to any of the dividends, distributions or transfers listed at
(A) to (H) of this clause 4.10 can be retained by the relevant member(s) of the GSK Group or the Pfizer Group (as applicable), provided that nothing in this clause 4.10 shall require any Party to take any action that
is or would be unlawful. 
  

	4.11	 Haleon shall indemnify GSK, each member of the GSK Group, Pfizer and each member of the Pfizer Group from
and against any and all liabilities and Costs arising before, on, or after Completion in respect of: 

  

	 	(A)	 any defect in, or any actual or potential claim, proceeding, suit or action brought (notwithstanding
clause 4.10 above) by any member of the Haleon Group that arises out of or in connection with any of the dividends, distributions or transfers listed at clause 4.10(A) to (H) (inclusive); and 

 

	 	(B)	 any failure by Haleon to take all possible steps required pursuant to clause 4.10 to ensure that any
amounts received by any member of the GSK Group or any member of the Pfizer Group pursuant to any of the dividends, distributions or transfers listed at clause 4.10(A) to (H) (inclusive) can be retained by the relevant member(s) of the
GSK Group and/or the Pfizer Group (as applicable). 

  

	5.	 CIRCULAR, PROSPECTUS AND COMPLIANCE AND REPORTING OBLIGATIONS 

 

	5.1	 Without prejudice to the Sponsors’ Agreements and without prejudice to the generality of the
obligations of the Parties pursuant to the Cosmos SHA, each of the Parties undertakes to each of the other Parties that if, at any time after the date hereof and before the commencement of dealings in Haleon Admission Shares, it comes to its notice
that: 

  

	 	(A)	 any statement contained in the Circular or the Prospectus has become or been discovered to be untrue,
incorrect or misleading in any material respect; 

  

	 	(B)	 it has been discovered that either the Circular or the Prospectus does not contain a statement that it
should contain in order to comply with any applicable Law or the rules of any relevant regulatory authority and that omission is or may be material; 

  

	 	(C)	 there has been a significant change affecting any matter contained in the Circular or the Prospectus which
would have been required to be disclosed in any such document had it occurred before the Posting Date; or 

  
 45 

	 	(D)	 a significant new matter has arisen, the inclusion of information in respect of which would have been
required in the Circular or in the Prospectus had it arisen before the Posting Date, 

 then that Party
shall immediately notify each of the other Parties of the same in writing. 
  

	5.2	 Each of the Parties undertakes: 

 

	 	(A)	 to procure that, prior to Completion, except as required by Law, the FCA or the London Stock Exchange, and
without prejudice to any rights of termination pursuant to any of the Transaction Documents, no action will be taken by it which is inconsistent with: 

  

	 	(i)	 the provisions of this Agreement or any of the other Transaction Documents; or 

 

	 	(ii)	 completion of the Separation Transaction; 

 

	 	(B)	 that it shall comply with applicable legal and regulatory requirements in relation to the Demerger, the
Separation Transaction, the Circular and the Prospectus and the matters and transactions contemplated thereby and by the Transaction Documents; and 

  

	 	(C)	 to notify and consult with the other Parties before taking any action as a consequence of any matter
referred to in clause 5.1, except to the extent that such undertaking to notify and consult with the other Parties inhibits any Party from complying with any of its fiduciary obligations or applicable Law. In the case of Haleon, such action
may include the publication of a supplementary prospectus in accordance with section 87G of FSMA. For the avoidance of doubt, the Parties hereby agree and acknowledge that in the event that any notification is made pursuant to clause 5.1, GSK
(with respect to the Circular) and GSK and Haleon (with respect to the Prospectus) shall determine any additional actions to be taken in connection with such notification, in the case of the Prospectus in consultation with Pfizer, in all cases in
accordance with applicable Law and subject to the terms of the Cosmos SHA. 

  

	5.3	 The Parties agree and undertake to provide all information, updates, notices and similar as required
pursuant to and in accordance with the terms of the Sponsors’ Agreements. 

  

	6.	 AMENDMENTS TO COSMOS SAPA AND NEBA 

 

	6.1	 Each of Pfizer, GSK, GSKCHHL and JVCo hereby agrees and confirms that: 

 

	 	(A)	 the Cosmos SAPA Amendment Agreement is in Agreed Form; and 

 

	 	(B)	 it shall execute and deliver the Cosmos SAPA Amendment Agreement on or prior to the Demerger.

  
 46 

	6.2	 Each of GSK, JVCo and Pfizer hereby agrees and confirms that: 

 

	 	(A)	 the NEBA Amendment Agreement is in Agreed Form; and 

 

	 	(B)	 it shall execute and deliver the NEBA Amendment Agreement on or prior to the Demerger.

   

	7.	 TERMINATION AT ADMISSION OF COSMOS SHA AND COSMOS SCA; CONTINUING COSMOS SHA PROVISIONS; AND OTHER
POST-COMPLETION MATTERS 

  

	7.1	 The Parties agree and acknowledge that: 

 

	 	(A)	 the Cosmos SHA shall terminate with effect from Admission, without prejudice to any rights or liabilities
arising under the Cosmos SHA prior to such termination; 

   

	 	(B)	 notwithstanding clause 28.1 of the Cosmos SHA, the provisions of clauses 9, 14, 17.34(C), 17.34(E), 18,
23.7, 26, 27, 28, 30, 33, 36 and 46 of the Cosmos SHA and those provisions of the Cosmos SHA that are expressly stated to continue after termination of the Cosmos SHA shall not continue after termination of the Cosmos SHA and, instead, clause
7.1(C) and Schedule 2 (Continuing Cosmos SHA Provisions and Post-Completion Matters) of this Agreement shall apply; and 

  

	 	(C)	 Schedule 2 (Continuing Cosmos SHA Provisions and Post-Completion Matters) shall apply with effect
from Admission. 

  

	7.2	 Each Party warrants and confirms (for itself and on behalf of its Group) that, as of the date hereof, it is
not aware of any breach of the Cosmos SHA by any party thereto. 

  

	8.	 TAX COVENANT 

Each of GSK, Haleon, GSKCHHL, Pfizer and JVCo hereby agrees and confirms that: 

 

	 	(A)	 the Tax Covenant is in Agreed Form; and 

 

	 	(B)	 it shall execute and deliver the Tax Covenant on or prior to the Demerger, to be effective as at the time of
the Demerger. 

  

	9.	 SETTLEMENT OF OUTSTANDING CROSS-GROUP AMOUNTS 

Any amounts outstanding at Completion between: (i) any member of the GSK Group and any member of the Consumer Healthcare
Group; and/or (ii) any member of the Pfizer Group and any member of the Consumer Healthcare Group shall, to the extent not already settled (unless otherwise agreed by the Parties) be settled by payment to the relevant creditor or payee entity
in the normal course following Completion in accordance with this Agreement, the Demerger Agreement or any other arrangements in effect as at the date of this Agreement, and each Party hereby agrees and undertakes to procure compliance by the
members of its Group with the provisions of this clause 9. 

  
 47 

	10.	 POST-SEPARATION COMMITTEE 

 

	10.1	 Without prejudice to clause 34 (Governing Law and Jurisdiction), and, for the avoidance of
doubt, without prejudice to any consent or decision-making rights which any Party (or any member of any Party’s Group) may have pursuant to the Cosmos Agreements or any of the Transaction Documents, GSK, Pfizer and Haleon shall establish a
post-separation committee to review and assist in the implementation of this Agreement and the Demerger Agreement after Completion, to consider any additional issues arising from the implementation of the Demerger or from the separation of
operations and businesses inherent in the Separation Transaction, and to act as a forum for any disputes which may arise between members of the GSK Group, the Pfizer Group or the Consumer Healthcare Group in relation to the same (the
“Post-Separation Committee”). 

  

	10.2	 The Post-Separation Committee shall meet from time to time as agreed by GSK, Pfizer and Haleon and shall
determine its own remit and procedures. 

  

	10.3	 The members of the Post-Separation Committee shall be such members of senior management or other
representatives of each of GSK, Pfizer and Haleon as they may respectively nominate. The members of the Post-Separation Committee shall be entitled to invite such other persons as they may determine to attend particular meetings of the
Post-Separation Committee. 

   

	11.	 EXCLUSION OF LIABILITY 

 

	11.1	 Without prejudice to the Cosmos SAPA and subject to clause 11.2, the Parties agree and acknowledge that,
except in the case of fraud or serious misconduct, no member of the GSK Group or the Pfizer Group (and none of their officers, employees, agents, consultants, advisers or representatives) shall have any liability or responsibility to any member of
the Consumer Healthcare Group by virtue or reason of its ownership interest in the JVCo Group, or participation in the management or conduct of the JVCo Group’s business in the period from Cosmos Closing to Completion, including as a result of:

  

	 	(A)	 decisions made by the JVCo Board (or any committee of such board), including those in which JVCo Directors
nominated by GSK and/or Pfizer have or may have participated; and/or 

  

	 	(B)	 actions taken by GSK, members of the GSK Group, Pfizer and/or members of the Pfizer Group in their capacity
as shareholders of the JVCo Group, 

 and Haleon and JVCo confirm for themselves and each of their
respective Groups that, except in the case of fraud or serious misconduct, they shall not bring any claim or commence any proceedings against any of GSK, any member of the GSK Group, Pfizer or any member of the Pfizer Group (or any officer,
employee, agent, consultant, adviser or representative of the foregoing) in respect of such matters. 

  
 48 

	11.2	 For the avoidance of doubt, the Parties agree and acknowledge that clause 11.1 does not exclude any
liability of any Party or any member of any Party’s Group in respect of any breach of any agreement between: 

  

	 	(A)	 any member of the GSK Group and any member of the Pfizer Group or the Consumer Healthcare Group; or

  

	 	(B)	 any member of the Pfizer Group and any member of the GSK Group or the Consumer Healthcare Group.

  

	12.	 [RESERVED] 

 

	13.	 EMPLOYEES 

  

	13.1	 Each Party, for itself and on behalf of each member of its Group, hereby waives, and undertakes that it
shall not bring any action or commence proceedings in respect of any claim which arises as a consequence of or by reference to any action or omission prior to Completion that it may have against any employee (or any former employee) of any member of
any other Party’s Group which relates: 

  

	 	(A)	 to that person’s involvement in, or work on or in connection with, the Separation Transaction; or

  

	 	(B)	 actions or omissions of that person in the course of such employment or other role which relate(s) to the
business, operations or affairs of any other Group, 

 provided that the foregoing shall not apply:
(i) insofar as any such claim relates to allegations of fraud or serious misconduct on the part of such person; (ii) where such person has brought a claim against the relevant Party (or a member of the relevant Party’s Group) or the
trustees or managers of a retirement or other compensation or benefits scheme of that Party (or of a member of that Party’s Group); or (iii) to any claims pursuant to any separate agreement entered into with any person. 

 

	13.2	 For the avoidance of doubt, nothing in this clause 13 shall affect the rights that any Party or any
member of any Party’s Group has against employees, consultants or agents of members of its own Group. 

  

	14.	 [RESERVED] 

 

	15.	 RESTRICTIVE COVENANTS 

 

	15.1	 For a period of [***] following Completion, Haleon shall not, and shall procure that each of the Consumer
Healthcare Group Companies shall not, without the prior written consent of GSK, directly or indirectly solicit, endeavour to entice away or offer to employ a [***] who is employed by any GSK Group Company at Completion other than any employee who
responds to a recruitment advertisement published generally and not specifically directed at such persons. 

  

	15.2	 For a period of [***] following Completion, GSK shall not, and shall procure that each of the GSK Group
Companies shall not without the prior written consent of Haleon, directly or indirectly solicit, endeavour to entice away or offer to employ a [***] who is employed by any Consumer Healthcare Group Company at Completion, other than any employee who
responds to a recruitment advertisement published generally and not specifically directed at such persons. 

  
 49 

	16.	 CONFIDENTIALITY 

 

	16.1	 Subject to clause 17.3, each Party shall treat as confidential all information obtained as a
precursor to or as a result of negotiating or entering into or performing this Agreement or which relates to: 

  

	 	(A)	 the provisions of this Agreement; 

 

	 	(B)	 the negotiations relating to this Agreement; or 

 

	 	(C)	 the subject matter of this Agreement. 

 

	16.2	 Each Party shall: 

 

	 	(A)	 not disclose any such confidential information to any person other than: 

 

	 	(i)	 in the case of Pfizer, a director of Haleon nominated by Pfizer; 

 

	 	(ii)	 any of its directors or employees who need to know such information in order to discharge their duties; and

  

	 	(iii)	 other members of its Group (and/or, in the case of GSK: (a) the trustee of the GSK Pension Scheme;
(b) the trustee of the GSK Pension Fund; (c) the trustee of the SmithKline Beecham Pension Plan; and/or (d) the trustee of the SmithKline Beecham Senior Executive Pension Plan); 

 

	 	(B)	 not use any such confidential information other than for the purpose of: 

 

	 	(i)	 in the case of Haleon, conducting the Consumer Healthcare Business; 

 

	 	(ii)	 in the case of Pfizer, GSK or any member of their respective Groups, managing or monitoring its investment
in Haleon; and 

  

	 	(iii)	 in connection with the performance of its obligations and the exercise of its rights under this Agreement;
and 

  

	 	(C)	 procure that any person to whom any such confidential information is disclosed by it complies with the
restrictions contained in this clause 16 as if such person were a party to this Agreement. 

  

	16.3	 Notwithstanding the other provisions of this clause 16, any Party may disclose any such confidential
information: 

  

	 	(A)	 if and to the extent required by Law or for the purpose of any judicial or arbitral proceedings;

  

	 	(B)	 if and to the extent required by any securities exchange or regulatory or Tax or other Governmental Entity
to which that Party or a member of its Group is subject or submits, wherever situated, including (amongst other bodies) the FCA, London Stock Exchange, Panel on Takeovers and Mergers, HMRC, the SEC or the New York Stock Exchange, whether or not the
requirement for information has the force of Law; 

  
 50 

	 	(C)	 to a Tax Authority in connection with the disclosing Party’s (or a member of its Group’s) Tax
affairs; 

  

	 	(D)	 to its advisers, auditors, actual or proposed debt financiers and bankers, provided they have a duty to keep
such information confidential; 

  

	 	(E)	 to the extent the information has come into the public domain through no fault of that Party;

  

	 	(F)	 to the extent the Party (or Parties) to which such information relates has (or have) given prior written
consent to the disclosure; 

  

	 	(G)	 to the extent expressly permitted by this Agreement or to the extent it is expressly permitted to do so
pursuant to any Transaction Document; 

  

	 	(H)	 if and to the extent required in connection with any regulatory consent or clearance process required by
applicable Law; or 

  

	 	(I)	 if it was in the possession of a Party or any of its advisers (in either case as evidenced by written
records) without any obligation of secrecy prior to it being received or held. 

  

	16.4	 Any Party disclosing information pursuant to clauses 16.3(A) or clause 16.3(B) shall (to the
extent permitted by Law) take all such steps as may be reasonable and practicable in the circumstances to agree the contents, form and timing of such disclosure with the Party (or Parties) to whom such information relates before making such
disclosure. 

  

	16.5	 The restrictions contained in this clause 16 shall continue to apply to each Party without limit in
time. 

  

	16.6	 Notwithstanding the foregoing in this clause 16, to the extent that the Cosmos SAPA, the Cosmos SHA
or any other Transaction Document or any other contract pursuant to which any Party or any member of its Group is bound provides that certain information shall be maintained confidential on a basis that is more protective of such information or for
a longer period of time than provided for in this clause 16, then the applicable provisions contained in the Cosmos SAPA, the Cosmos SHA or such other Transaction Document or contract shall control with respect thereto but only to the extent
such provision is more protective or runs for a longer period of time. 

  

	17.	 ANNOUNCEMENTS 

 

	17.1	 Subject to clause 17.2, no announcement or other publication concerning the transactions contemplated
by the Transaction Documents or any ancillary matter shall be made by any Party or member of its Group without the prior written approval of the other Parties, such approval not to be unreasonably withheld or delayed. 

  
 51 

	17.2	 Notwithstanding clause 17.1, any Party or member of its Group may, whenever practicable and
permissible after consultation with the other Parties and subject to the requirements of the Sponsors’ Agreements, make an announcement concerning this Agreement, the Transaction Documents, the Separation Transaction or the Consumer Healthcare
Business, if and to the extent required by: 

  

	 	(A)	 Law or for the purposes of any judicial or arbitral proceedings; or 

 

	 	(B)	 any securities exchange or regulatory or Governmental Entity to which that Party is subject or submits,
wherever situated, including (amongst other bodies) the FCA, London Stock Exchange, Panel on Takeovers and Mergers, HMRC, the SEC or the New York Stock Exchange, whether or not the requirement has the force of Law. 

 

	17.3	 For the avoidance of doubt, nothing in this Agreement shall prohibit any Party or any member of its
respective Group from making any disclosure or public statements regarding its intentions with respect to the Haleon Ordinary Shares, Haleon ADSs in respect thereof or Haleon NVPS that it holds in Haleon. 

 

	17.4	 The restrictions contained in this clause 17 shall continue to apply to each Party without limit in
time unless otherwise agreed between the Parties. 

  

	18.	 WARRANTIES 

Each of the Parties warrants and undertakes to each other as at the date of this Agreement that: 

 

	 	(A)	 it is validly existing and is a company duly incorporated and registered under the Law of its jurisdiction
of incorporation; 

  

	 	(B)	 it has the legal right and full power and authority to enter into and perform this Agreement, which will
constitute valid and binding obligations on it in accordance with its terms; and 

  

	 	(C)	 except as referred to in this Agreement, (including, for the avoidance of doubt, the filings, notices and
approvals associated with the Regulatory Conditions), it: 

   

	 	(i)	 is not required to make any announcement, consultation, notice, report or filing; and 

 

	 	(ii)	 does not require any consent, approval, registration, authorisation or permit, 

in each case with or from any Governmental Entity in connection with the performance of this Agreement. 

 

	19.	 COSTS AND EXPENSES 

 

	19.1	 [The Parties hereby agree, notwithstanding the terms of the Cosmos SHA (including, without limitation,
clause 17.34(G) thereof), to the allocation of certain costs and expenses in connection with the Separation Transaction as specified in Schedule 3 (Allocation of Costs and Expenses), or which constitute matters that are the subject of any
indemnity pursuant to the Tax Covenant, and that the Party identified as responsible in Schedule 3 (Allocation of Costs and Expenses) shall pay such costs and expenses.] 

  
 52 

	19.2	 The Parties hereby agree that: 

 

	 	(A)	 [in respect of costs and expenses in connection with the Separation Transaction that are not allocated
pursuant to the operation of clause 19.1 and Schedule 3 (Allocation of Costs and Expenses), the provisions of paragraph 6 of Part A of Schedule 2 (Continuing Cosmos SHA Provisions and Post-Completion Matters) shall
apply to allocate such costs and expenses; and] 

  

	 	(B)	 where clause 19.2(A) applies, the Party identified as responsible pursuant to the application of
paragraph 6 of Part A of Schedule 2 (Continuing Cosmos SHA Provisions and Post-Completion Matters) shall pay such costs and expenses. 

  

	19.3	 Except as otherwise provided for in this Agreement or any Transaction Document, each Party shall pay its own
costs and expenses in relation to the negotiation, preparation, execution and carrying into effect of this Agreement and the other Transaction Documents (and any other document entered into pursuant to this Agreement or any such document).

  

	20.	 PAYMENTS 

  

	20.1	 Payments due to be made under this Agreement shall, if not paid within thirty (30) days of the due date, and
except to the extent the liability giving rise to the payment compensates the recipient for late payment by virtue of its extending to interest and penalties, carry interest at a rate of (i) two (2) per cent. above the base lending rate from time to
time of the Bank of England, or (ii) if such base lending rate is less than zero, at two (2) per cent. (the “Agreed Rate”) for the period from the date falling thirty (30) days after the due date to the date of actual payment.

   

	20.2	 Payments due to be made under this Agreement shall be free and clear of all deductions, withholdings, set-offs, or counterclaims whatsoever, except as may be required by Law. If any deductions or withholdings are required by Law, the paying party shall be obliged to pay such sum as will, after such deduction,
withholdings, set-off or counter-claim has been made, leave the receiving party with the same amount as it would have been entitled to receive in the absence of any such requirement to make such deduction or
withholding. 

  

	21.	 RECHARGE TO HALEON 

Subject to Admission having occurred, JVCo shall, following Completion, charge to Haleon an amount equal to all costs and
expenses incurred by JVCo in connection with Admission to the extent not otherwise reimbursed pursuant to the Transaction Documents, together with an amount in respect of VAT on the relevant amount where applicable. 

 

	22.	 NOTICES 

  

	22.1	 A notice under this Agreement shall only be effective if it is in writing.
E-mail is permitted. Any notice validly served on one member of any Party’s Group in accordance with this clause 22 shall be deemed to have been served on each member of such Party’s Group.

  
 53 

	22.2	 Notices under this Agreement shall be sent to a Party at its address and for the attention of the
individuals set out below: 

  

			
	GSK	  	
		
	Address:	  	
	E-mail address:	  	
	For the attention of:	  	
		
	Pfizer	  	
		
	Address:	  	
	E-mail address:	  	
	For the attention of:	  	
		
	Haleon	  	
		
	Address:	  	
	E-mail address:	  	
	For the attention of:	  	
		
	JVCo	  	
		
	Address:	  	
	E-mail address:	  	
	For the attention of:	  	
		
	GSKCHHL	  	
		
	Address:	  	
	E-mail address:	  	
	For the attention of:	  	
		
	PFCHHL	  	
		
	Address:	  	
	E-mail address:	  	
	For the attention of:	  	

 provided that a Party may change its notice details on giving notice to the other Parties of
the change in accordance with this clause 22. That notice shall only be effective on the date falling five (5) clear Business Days after the notification has been received or such later date as may be specified in the notice. 

  
 54 

	22.3	 Any notice given under this Agreement shall be deemed to have been duly given as follows:

  

	 	(A)	 if delivered personally, on delivery; 

 

	 	(B)	 if sent by first class inland post, two (2) clear Business Days after the date of posting;

  

	 	(C)	 if sent by airmail, six (6) clear Business Days after the date of posting; and 

 

	 	(D)	 if sent by e-mail, when despatched. 

 

	22.4	 Any notice given under this Agreement outside Working Hours in the place to which it is addressed shall be
deemed not to have been given until the start of the next period of Working Hours in such place. 

  

	22.5	 A notice under or in connection with this Agreement shall not be invalid by reason of any mistake or
typographical error or if the contents are incomplete, provided it should have been reasonably clear to the recipient what the correct or missing particulars should have been. 

 

	22.6	 The provisions of this clause 22 shall not apply in relation to the service of Service Documents.

  

	23.	 ENTIRE AGREEMENT 

 

	23.1	 This Agreement, any other Transaction Document and any other agreement or document entered into by each of
the Parties in connection with any such document, including the Cosmos SHA, the Cosmos SAPA and the other agreements and documents entered into in connection therewith (together, the “Cosmos Agreements”), together constitute the
whole and only agreement between the Parties relating to the subject matter of this Agreement, any other Transaction Document and any other agreement or document entered into by each of the Parties in connection with any such document.

  

	23.2	 All terms of the Cosmos Agreements shall remain unchanged and in full force and effect and nothing in this
Agreement or in any of the Transaction Documents shall amend, limit or otherwise modify the parties’ respective rights and obligations under the Cosmos Agreements, in each case except as, and only to the extent, expressly provided in this
Agreement or in any of the Transaction Documents. 

  

	23.3	 [Reserved] 

   

	23.4	 Each Party acknowledges that in entering into this Agreement, any other Transaction Document and any other
agreement or document entered into by each of the Parties in connection with any such document it is not relying upon any pre contractual statement which is not set out in this Agreement, any other Transaction Document, any Cosmos Agreement or any
other agreement or document entered into by each of the Parties in connection with any such document. 

  
 55 

	23.5	 Except in the case of fraud, no Party shall have any right of action against any other Party (or their
respective Connected Persons) arising out of or in connection with any pre contractual statement except to the extent that it is repeated in this Agreement or in a Transaction Document or any Cosmos Agreement or in any other agreement or document
entered into by each of the Parties in connection with any such document. 

  

	23.6	 Except in the case of fraud and for any liability in respect of a breach of this Agreement or any
Transaction Document or any Cosmos Agreement, no Party (nor any of its Connected Persons) shall owe any duty of care or have any liability in tort or otherwise to any other Party (or its Connected Persons) in relation to Haleon, JVCo or the Consumer
Healthcare Business. 

  

	23.7	 For the purposes of this clause 23, “pre contractual statement” means any draft,
agreement, undertaking, representation, warranty, promise, assurance or arrangement of any nature whatsoever, whether or not in writing, relating to the subject matter of this Agreement or any other Transaction Document or in any other agreement or
document entered into in connection with any such document (as the case may be) made or given by any person at any time prior to the date of this Agreement or any other Transaction Document, except for those contained in any Transaction Document or
any Cosmos Agreement. 

  

	23.8	 Each Party agrees to the terms of this clause 23 on its own behalf and as agent for each of its
Connected Persons. The provisions of this clause 23 shall not limit, supersede or otherwise affect any limitation of damages or remedies provisions that are expressly set forth in any Transaction Document or any Cosmos Agreement.

  

	24.	 CONTRACTS (RIGHTS OF THIRD PARTIES) ACT 1999 

 

	24.1	 The Parties agree that: 

 

	 	(A)	 certain provisions of this Agreement confer a benefit on members of the Parties’ respective Groups,
their respective Connected Persons and such other third parties (each a “Relevant Third Party”) and, subject to the remaining provisions of this clause 24, are intended to be enforceable by each of the Relevant Third Parties
by virtue of the Contracts (Rights of Third Parties) Act 1999, provided that the Party in the same Group as (or with the relevant connection to) the Relevant Third Party shall have the sole conduct of any action to enforce such right on behalf of
such Relevant Third Party; and 

  

	 	(B)	 notwithstanding the provisions of clause 24.1(A), this Agreement may be rescinded or varied in any
way and at any time by the Parties to this Agreement without the consent of any Relevant Third Party. 

  

	24.2	 Save as set out in clause 24.1(A), a person who is not a Party shall have no right under the
Contracts (Rights of Third Parties) Act 1999 or any other statutory provision to enforce any of its terms. 

  
 56 

	25.	 ASSIGNMENT 

No Party shall, without the prior written consent of the other Parties: 

 

	 	(A)	 assign or purport to assign all or any part of the benefit of, or its rights or benefits under, this
Agreement (together with any causes of action arising in connection with any of them); 

  

	 	(B)	 make a declaration of trust in respect of or enter into any arrangement whereby it agrees to hold in trust
for any other person all or any part of the benefit of, or its rights or benefits under, this Agreement; 

  

	 	(C)	 sub-contract or enter into any arrangement whereby another person is
to perform any or all of its obligations under this Agreement; 

  

	 	(D)	 transfer or charge any of its rights or obligations under this Agreement; or 

 

	 	(E)	 grant, declare, create or dispose of any right or interest in, in whole or in part, this Agreement,

 and any purported assignment in contravention of this clause 25 shall be null and void ab
initio. 
  

	26.	 REMEDIES AND WAIVERS 

 

	26.1	 No delay or omission by any Party in exercising any right, power or remedy provided by Law or under this
Agreement shall: 

  

	 	(A)	 affect that right, power or remedy; or 

 

	 	(B)	 operate as a waiver or variation of it. 

 

	26.2	 The single or partial exercise of any right, power or remedy provided by Law or under this Agreement shall
not preclude any other or further exercise of it or the exercise of any other right, power or remedy. 

  

	26.3	 The rights and remedies of each Party under, or pursuant to, this Agreement are cumulative, may be exercised
as often as such Party considers appropriate and are in addition to its rights and remedies under general Law. 

  

	26.4	 Notwithstanding any express remedies provided under this Agreement and without prejudice to any other right
or remedy which any Party may have, each Party acknowledges and agrees that damages alone would not be an adequate remedy for any breach by it of the provisions of this Agreement, so that in the event of a breach or anticipated breach of such
provisions, the remedies of injunction, an order for specific performance and/or other equitable remedies would be available. Furthermore, each Party acknowledges and agrees that it will not raise any objection to the application by or on behalf of
another Party or any member of its Group for any such remedies. 

  
 57 

	27.	 VARIATION 

  

	27.1	 No variation of this Agreement shall be valid unless it is in writing and duly executed by or on behalf of
all the Parties to it. 

  

	27.2	 If this Agreement is varied: 

 

	 	(A)	 the variation shall not constitute a general waiver of any provisions of this Agreement;

  

	 	(B)	 the variation shall not affect any rights, obligations or liabilities under this Agreement that have already
accrued up to the date of variation; and 

  

	 	(C)	 the rights and obligations of the Parties under this Agreement shall remain in full force and effect, except
as, and only to the extent that, they are so varied. 

  

	28.	 FURTHER ASSURANCE 

Each Party shall (and shall use reasonable endeavours to procure that any relevant Third Party shall) at its own cost, from
time to time on request, do all acts and/or execute all documents in a form reasonably satisfactory to any other Party which that other Party may reasonably consider necessary for giving full effect to this Agreement and securing to that other Party
the full benefit of the rights, powers and remedies conferred upon that other Party in this Agreement, in each case subject to the terms and conditions set forth in this Agreement. 

 

	29.	 NO PARTNERSHIP OR AGENCY 

Nothing in this Agreement (or in any other Transaction Document or any other arrangements contemplated hereby or therein) shall
constitute a partnership between the Parties or any of them or make the agent of any other Party for any purpose. No party has any authority or power to bind, to contract in the name of, or to create a liability for another party in any way or for
any purpose save as specifically set out in this Agreement. 
  

	30.	 INVALIDITY 

 

	30.1	 If at any time any provision (or part of any provision) of this Agreement is or becomes illegal, invalid or
unenforceable in any respect under the Law of any jurisdiction, that shall not affect or impair: 

  

	 	(A)	 the legality, validity or enforceability in that jurisdiction of any other (or the remainder of a) provision
of this Agreement; or 

  

	 	(B)	 the legality, validity or enforceability under the Law of any other jurisdiction of that or any other
provision of this Agreement. 

  

	30.2	 Each of the provisions of this Agreement is severable. 

  
 58 

	30.3	 If and to the extent that any provision of this Agreement: 

 

	 	(A)	 is held to be, or becomes, invalid or unenforceable under the Law of any jurisdiction; but

  

	 	(B)	 would be valid, binding and enforceable if some part of the provision were deleted or amended,

 then the provision shall apply with the minimum modifications necessary to make it valid, binding and
enforceable. All other provisions of this Agreement shall remain in force. 
  

	31.	 CONTINUING EFFECT 

Each provision of this Agreement shall continue in full force and effect after Completion, unless such provision has been fully
performed on or before Completion. 
  

	32.	 COUNTERPARTS 

 

	32.1	 This Agreement may be executed in any number of counterparts, and by the Parties on separate counterparts,
but shall not be effective until each Party has executed at least one counterpart. Each counterpart shall constitute an original of this Agreement, but all the counterparts shall together constitute but one and the same instrument.

  

	32.2	 Delivery of a counterpart of this Agreement by e-mail attachment
shall be an effective mode of delivery. 

  

	33.	 LANGUAGE 

Each notice or communication under or in connection with this Agreement shall be in English. 

 

	34.	 GOVERNING LAW AND JURISDICTION 

 

	34.1	 This Agreement is to be governed by and construed in accordance with English law. Any matter, claim or
dispute arising out of or in connection with this Agreement, whether contractual or non-contractual, is to be governed by and determined in accordance with English law. 

 

	34.2	 The courts of England are to have exclusive jurisdiction to settle any dispute arising out of or in
connection with this Agreement. Any Proceedings shall be brought only in the courts of England. 

  

	34.3	 Each Party waives (and agrees not to raise) any objection, on the ground of forum non conveniens or
on any other ground, to the taking of Proceedings in the courts of England. Each Party also agrees that a judgment against it in Proceedings brought in England shall be conclusive and binding upon it and may be enforced in any other jurisdiction.

  

	34.4	 Each Party irrevocably submits and agrees to submit to the jurisdiction of the courts of England.

  
 59 

	35.	 AGENT FOR SERVICE 

 

	35.1	 Each of Pfizer, Anacor and PFCHHL irrevocably appoints Pfizer Limited, c/o UK Legal Department, Pfizer Ltd
(IPC 3-1), Walton Oaks, Dorking Road, Tadworth, Surrey KT20 7NS, to be its agent for the receipt of Service Documents. Each such Party agrees that any Service Document may be effectively served on it in
connection with Proceedings in England and Wales by service on its agent effected in any manner permitted by the Civil Procedure Rules. 

  

	35.2	 If the agent at any time ceases for any reason to act as such, Pfizer, Anacor and PFCHHL shall each appoint
a replacement agent having an address for service in England or Wales and shall notify the other Parties of the name and address of the replacement agent. Failing such appointment and notification, JVCo shall be entitled by notice to Pfizer to
appoint a replacement agent to act on behalf of Pfizer, Anacor and PFCHHL, provided that Pfizer shall be entitled, by notice to JVCo, to replace that agent with a replacement agent having an address for service in England or Wales. The provisions of
this clause 35 applying to service on an agent apply equally to service on a replacement agent. 

  

	35.3	 A copy of any Service Document served on an agent appointed in accordance with clauses 35.1 or
35.2 shall be sent by post to Pfizer, Anacor or PFCHHL (as applicable). Failure or delay in so doing shall not prejudice the effectiveness of service of the Service Document. 

 

	35.4	 Without prejudice to clauses 35.1 to 35.3, any Party without an address for service in England
or Wales shall appoint, and keep appointed at all times, an agent for service with an address for service in England or Wales and shall notify the other Parties of the name and address of its appointed agent for service. Failing such appointment and
notification, JVCo shall be entitled by notice to such Party to appoint an agent to act on behalf of such Party, provided that such Party shall be entitled, by notice to the other Parties, to replace that agent with a replacement agent having an
address for service in England or Wales. Such Party agrees that any Service Document may be effectively served on it in connection with Proceedings in England and Wales by service on its agent effected in any manner permitted by the Civil Procedure
Rules. 

  

	35.5	 “Service Document” means a claim form, application notice, order, judgment or other
document relating to any Proceedings. 

  
 60 

 IN WITNESS of which this document has been executed as a deed on the date which appears on page 1 above.

  

					
	 SIGNED as a DEED by 

DAVID REDFERN as
 attorney
for GSK PLC in
 the presence of: 
	  	 )
	  	
                       
                                         

	  	 )
	  	 (Signature of attorney)

	  	 )
	  	 DAVID REDFERN as attorney for

GSK PLC

	  	 )

   

			
	 Witness’s signature:
	 	 
		
	 Name (print):
	 	 
		
	 Occupation:
	 	 
		
	 Address:
	 	 

  
 61 

					
	Executed as a deed by	  	 )
	  	
                       
                                         

	PFIZER INC.	  	 )
	  	(Authorised signatory)
	acting by [name of authorised signatory]	  	 )
	  	
	who, in accordance with the laws of the	  	 )
	  	
	territory in which PFIZER INC. is	  	 )
	  	
	incorporated, [is][are] acting under the	  	 )
	  	
	authority of 	  	 )
	  	
	PFIZER INC.	  	 )
	  	

  
 62 

					
	 SIGNED as a DEED by 

AMANDA MELLOR as
 attorney
for HALEON PLC in
 the presence of: 
	  	 )
	  	
                       
                                         

	  	 )
	  	 (Signature of attorney)

	  	 )
	  	 AMANDA MELLOR as attorney for

HALEON PLC

	  	 )

   

			
	 Witness’s signature:
	 	 
		
	 Name (print):
	 	 
		
	 Occupation:
	 	 
		
	 Address:
	 	 

  

  
 63 

					
	 Executed as a deed by
	  	 )
	  	
                       
                                         

	GLAXOSMITHKLINE CONSUMER HEALTHCARE	  	 )
	  	 Director

	 HOLDINGS (NO.2) LIMITED
	  	 )
	  	
	 acting by DAVID REDFERN a director
	  	 )
	  	
	 in the presence of:
	  	 )
	  	

   

			
	 Witness’s signature:
	 	 
		
	 Name (print):
	 	 
		
	 Occupation:
	 	 
		
	 Address:
	 	 

  

  
 64 

					
	 SIGNED as a DEED by
	 	)	  	                                     
                   
	DAVID REDFERN as attorney for	 	)	  	 (Signature of attorney)

	GLAXOSMITHKLINE CONSUMER HEALTHCARE	 	)	  	 DAVID REDFERN as attorney for

	HOLDINGS LIMITED 	 	)	  	 GLAXOSMITHKLINE CONSUMER HEALTHCARE

	 in the presence of:
	 	)	  	HOLDINGS LIMITED

   

			
	 Witness’s signature:
	 	 
		
	 Name (print):
	 	 
		
	 Occupation:
	 	 
		
	 Address:
	 	 

  
 65 

					
	 EXECUTED as a DEED by
	  	 )
	  	
                       
                                         

	 ANACOR PHARMACEUTICALS, INC. 
	  	 )
	  	(Authorised signatory)
	 acting by [name of authorised signatory]
	  	 )
	  	
	 who, in accordance with the laws of the
	  	 )
	  	
	 territory in which ANACOR PHARMACEUTICALS, INC. 
	  	 )
	  	
	 is incorporated, is acting under the
	  	 )
	  	
	 authority of ANACOR PHARMACEUTICALS, INC.
	  	 )
	  	

  
 66 

					
	 Executed as a deed by
	  	 )
	  	
                       
                                         

	 PF CONSUMER HEALTHCARE
	  	 )
	  	(Authorised signatory)
	 HOLDINGS LLC
	  	 )
	  	
	 acting by [name of authorised signatory]
	  	 )
	  	
	 who, in accordance with the laws of the
	  	 )
	  	
	 territory in which PF CONSUMER
	  	 )
	  	
	 HEALTHCARE HOLDINGS LLC is
	  	 )
	  	
	 incorporated, [is][are] acting under the
	  	 )
	  	
	 authority of PF CONSUMER HEALTHCARE
	  	 )
	  	
	 HOLDINGS LLC
	  	 )
	  	
		  	 )
	  	
		  	 )
	  	

  
 67

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00345-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00345-of-00352.parquet"}]]