SCHEDULE: GSK Exits CureVac, Divests All Common Shares

GSK plc has completed the divestment of its entire stake in CureVac N.V. through a tender offer, ceasing to be a beneficial owner.

Summary

• GSK plc, through its indirect wholly-owned subsidiary Glaxo Group Limited (GGL), no longer beneficially owns any common shares of CureVac N.V.
• GGL tendered all its common shares in CureVac N.V. as part of an Exchange Offer.
• The Exchange Offer expired as scheduled at 9:00 a.m. Eastern Time on December 3, 2025.
• The common shares held by GGL were accepted for exchange on December 3, 2025.
• This Amendment No. 1 to Schedule 13D serves as a final amendment and constitutes an 'exit filing' for GSK plc regarding its investment in CureVac N.V.
• Updates were made to Schedule A to reflect current titles and honorifics of certain directors and executive officers of GSK plc.

Sentiment

Score: 5

Explanation: The filing is a factual report of a completed divestment. For GSK, it represents a portfolio adjustment, which can be neutral to slightly positive. For CureVac, the exit of a major investor could be seen as neutral to slightly negative. Overall, the sentiment is neutral as it's a reporting of a past, expected event.

Positives

• GSK plc has successfully completed the divestment of its investment in CureVac N.V., potentially streamlining its portfolio or reallocating capital.

Negatives

• CureVac N.V. has lost a significant institutional shareholder in GSK plc, which could be perceived negatively by the market.

Future Outlook

This filing reports a completed transaction and does not provide forward-looking statements or guidance regarding future financial performance or strategic direction for either GSK plc or CureVac N.V.

Industry Context

GSK plc's divestment of its stake in CureVac N.V. may reflect a strategic decision to optimize its investment portfolio, focusing on core assets or reallocating capital to other areas. Such divestments are common in the pharmaceutical and biotechnology sectors as companies refine their strategic partnerships and investment priorities.

Stakeholder Impact

• Shareholders of GSK plc may view this as a positive step towards portfolio optimization and capital reallocation.
• Shareholders of CureVac N.V. will note the exit of a significant institutional investor, which could lead to short-term market adjustments or a re-evaluation of the company's investor base.

Key Dates

Keywords

GSK, CureVac, Divestment, Tender Offer, Schedule 13D, Common Shares, Beneficial Ownership, Pharmaceutical, Biotech