Common use of Translation of Reporting Entity’s Statements of Net Assets Clause in Contracts

Translation of Reporting Entity’s Statements of Net Assets. A reporting entity reports in local currency. All reports are translated into GBP by the Seller for reporting purposes. The GlaxoSmithKline Statement of Net Assets is translated at the period-end exchange rates which are the rates published on the Finance Community and are based on exchange rates published by Reuters and are published on the GlaxoSmithKline intranet.