Analyst consensus

Any opinions, estimates or forecasts regarding GlaxoSmithKline’s performance made by such analysts (and therefore collated for the purpose of the consensus) are theirs alone and do not represent opinions, forecasts or predictions of GlaxoSmithKline or its Management.

GlaxoSmithKline neither endorses, concurs nor accepts responsibility for, any material published or relied upon by any analyst from which the figures presented in the consensus are calculated nor does it endorse, concur or accept responsibility whatsoever for the views of these or any other analysts reporting on the company. In particular, GlaxoSmithKline makes no warranty or representation as to the accuracy or completeness of their research, the reasonableness of any assumptions or projections or the likelihood of achieving the figures set out. GlaxoSmithKline has not commented on or verified any individual estimates, nor does it intend to do so in the future, and GlaxoSmithKline shall not be liable for any errors in the content of the analysts’ research material, or for any action taken in reliance thereon.

Furthermore, GlaxoSmithKline may at any time be in possession of information that may affect the analyst’s research and has not commented upon, reviewed or updated, and is under no obligation to comment upon, review or update, their research.

Nothing contained herein should be taken as a recommendation to buy or sell shares or other securities of GlaxoSmithKline or to take or refrain from taking any other action or to place any reliance on any of the information set out on our website. When making an investment decision you should seek the advice of an independent financial adviser.

The figures are calculated as the mean of estimates provided to the company by analysts satisfying certain criteria in the 90 days preceding the date of the consensus provided and are not altered or adjusted in any way by GlaxoSmithKline. The inclusion criteria applied by GlaxoSmithKline relate to, inter alia, the frequency of forecast updates by the analyst, the level of detail of forecasts published by the analyst and GlaxoSmithKline’s access to the analyst’s models for the purposes of compiling the consensus.

It should be noted that estimates are by definition forward looking and as such are speculative and are therefore subject to risks and uncertainties that may materially affect eventual results. Although GlaxoSmithKline will endeavour to procure that the figures presented are kept updated in accordance with the methodology described above, GlaxoSmithKline assumes no obligation to update, revise or supplement the figures presented.

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