Annual investor conference2021Topics for today’s conference

1 2 3 4 5 62021 First
quarter sales

Committed to
Growth, with
PurposeOur approachto ESG

Environment

SocialGovernance

Conclusion

Reducing
environmental
footprint

Diversity andinclusion

Governancestructure

Q&A

Caring for
employees

Compensation

Protecting theecosystem

Improving livesof communities2

Conference instructions

Annual Investor
Conference

1 2 3Live webcast
presented by:
Gilles Andrier
Willem Mutsaerts
Simon Halle-Smith

Q&A session
If you wish to
ask questions:

Presentation
on website

Call in after thepresentation using
the dial-in details
you received
Press * and 1 toenter the queue
to ask a question3

Gilles Andrier
Chief Executive Officer

2021 First quarter sales
Committed to Growth, with Purpose
Our approach to ESG

4

2021 First quarter sales
Strong growth across all markets and segments

5

Sales performance
Strong start to the year
In CHF million

Q1 2020

1619

Q1 2021

1674

788

745

886

874

Group

Fragrance & Beauty

Taste & Wellbeing

7.7%

9.9%

5.8%

% 2021 growth on LFL* basis

3.4%

5.8%

1.3%

% 2021 growth in CHF* LFL (like-for-like) excludes the impact of currency,
acquisitions and disposals
6Sales portfolio performance
COVID-19 impact analysis
Higher impact **Lower impacted business LFL* growth 2020 & Q1 2021
Q1 2020

Q2 2020

Q3 2020

Q4 2020

FY 2020

Q1 2021

Group

7.5%

11.7%

5.6%

6.0%

7.7%

9.6%

F&B

7.5%

12.7%

6.0%

6.6%

8.2%

10.7%

T&W

7.6%

11.1%

5.4%

5.5%

7.4%

8.7%

Lower impact **

16%
84%

Higher impacted business LFL* growth 2020 & Q1 2021

18%
82%

Group

Fragrance & Beauty

15%
85%

Taste & Wellbeing

Q1 2020

Q2 2020

Q3 2020

Q4 2020

FY 2020

Q1 2021

Group

-4.4%

-39.0%

-9.7%

-4.1%

-14.7%

-2.8%

F&B

1.9%

-35.3%

-1.9%

12.2%

-6.0%

6.6%

T&W

-10.8%-42.2%-18.2%-19.1%-23.0%-14.5%* LFL (like-for-like) excludes the impact of currency, acquisitions and disposals** Portfolio structure based on 2019 actual ‘pre-COVID’ results

7

Sales evolution by market
Excellent performance in high growth markets
In CHF million

Q1 2020
Q1 2021

955

946

719

673

MatureHG

58% 57%

42% 43%

2.8%

14.5%

% of total sales% 2021 growth on LFL* basis* LFL (like-for-like) excludes the impact of currency,
acquisitions and disposals
8Sales evolution by region
All regions contributing to the growth
In CHF million

Q1 2020
Q1 2021

621

599

452

449

423

395

181

173
EAME

NA

LATAM

APAC

4.6%

3.7%

23.3%

10.2%

% 2021 growth on LFL* basis

3.7%

-0.7%

5.1%

7.1%

% 2021 growth in CHF* LFL (like-for-like) excludes the impact of currency,
acquisitions and disposals
9Fragrance & Beauty
Sales growth of 9.9% on a LFL basis
Fine Fragrance sales increased by 6.6% LFL

In CHF million• The good sales performance was driven by volume growth of existing
business and new wins
• Despite continued travel restrictions and partial lockdowns in different
regions of the world, many Fine Fragrance customers leveraged theirdigital channels to recover volumes during the COVID-19 pandemic

788

+5.8%

Consumer Product sales increased by 11.4% LFL• Growing across all customer groups and geographies, driven by strong
underlying win rate performance and continuing strong demand forhousehold and personal care products related to COVID-19• On a regional basis, all regions reported double-digit growth

Sales of Fragrance Ingredients and Active Beauty
increased by 6.9%
• Active Beauty delivered high double-digit growth with strong
performance with all customer types and double-digit growth in both
high growth and mature markets

745• Sales of Fragrance Ingredients delivered moderate growth mainly driven
by local and regional customers

Q1 2020

Q1 2021* LFL (like-for-like) excludes the impact of currency, acquisitions and disposals
10Taste & Wellbeing
Sales growth of 5.8% on a LFL basis
Sales in Europe increased by 0.7% LFL

In CHF million• Double-digit growth was achieved in the mature markets of Germany
and Sweden followed by good single-digit growth in Austria• Overall the region was still heavily impacted by the COVID-19 crisis

+1.3%

886

874

Sales in Asia Pacific increased by 8.2% LFL• In the high growth markets, China and Malaysia delivered high doubledigit growth followed by solid single-digit growth in Vietnam• In the mature markets, Singapore delivered strong double-digit growthfollowed by single-digit growth in Korea

Sales in South Asia, Africa and the Middle East increased by
6.9% LFL• Double-digit growth was achieved in the markets of India and NorthWest Africa which was more than enough to offset weaker performancein South Africa, which is still heavily impacted by the COVID-19 crisis

Sales in Latin America increased by 19.4% LFL• Growth across all markets, led by strong double-digit growth in Mexico,
Brazil and Argentina, and across all segments

Sales in North America increased by 4.0% LFL
Q1 2020

Q1 2021• The performance was a result of new wins and the growth of existing
business in Beverage, Sweet Goods and Immunity Products* LFL (like-for-like) excludes the impact of currency, acquisitions and disposals
112021 Outlook
Summary of key themes

2021 Outlook

Focus on Operations

Key Initiatives• Confident in our capabilities and theimportant role that we play in the global
value chain for food and consumer
products• Protecting and supporting all
Givaudan personnel• Continued integration of acquiredcompanies on to Givaudan’s
operating platform• Visibility remains short due to on-going
impacts related to the COVID-19
pandemic• Raw materials forecast to increase ~1%
in 2021• Focus on maintaining operations andsupply chain performance at highlevels to support our customers• Continued cost discipline throughout
the business• Integration costs of ~CHF 45 million
in 2021• Starting the implementation of the2025 strategy

12Committed to Growth,with Purpose
Purpose and 2025 Strategy for ahigh-performing business, andacting as a force for good13

Givaudan’s purpose
Driving sustainable performance, and acting as a force for good

CreationsLet’s imagine together
with customers thatthrough our creations
more people will enjoy
happier, healthier lives

NatureLet’s imagine together
that we show our love
for nature in
everything we doCreating for happier,healthier lives
with love for nature.
Let’s imagine together.

Working
to become a

Communities
Let’s imagine together
that all communities
benefit by working with
GivaudanPeopleLet’s imagine together
that Givaudan is a place
where we all love to be
and grow

14

Strategy 2025
Committed to Growth, with Purpose

Creations
We create inspiring solutions
for happier, healthier lives

NatureGrowing
togetherwith ourcustomers

PeopleWe show our love for nature
through impactful actions

Communities

We nurture a place where
we all love to be and growWe bring benefits to allcommunities that work with us

Excellence, Innovation & Simplicity – in everything we do
4–5% GROWTHPURPOSE LINKED TARGETS>12% FCF
15

Strategy 2025
Performance ambitions

SALES GROWTH

4.0 – 5.0%2021 – 2025
Average Like-for-like1 sales growth

FREE CASH FLOWPURPOSE AMBITIONS

12% of Sales

Purposelinked targets

2021 – 2025
Average FCF2 as % of sales

2021 – 2025
Progress towards all publishedpurpose targets>

1. Like-for-like (LFL) is defined as: (a) sales calculated using the invoicing exchange rates of the prior year, (b) excluding sales of businesses acquired from the acquisition date until the period end date,up to 12 months from the acquisition date, and (c) excluding sales of the businesses disposed of from the disposal date until the period end date of the comparable prior period
2. Free Cash Flow (FCF) refers to operating cash flow after net investments, interest paid and lease payments

16

APPROACH TO ESGENVIRONMENTSOCIAL

GOVERNANCE

Purpose and 2025 Strategy
encapsulate our approach to ESG

17

APPROACH TO ESGENVIRONMENTSOCIAL

GOVERNANCE

Purpose-linked targets
encapsulate our approach to ESG
Creations

NaturePeopleCommunities

E S G

E G

S G

E S G

By 2030

Before 2030

Before 2025

By 2030•

We will double our businessthrough creations that
contribute to happier,healthier lives.

•

Our operations’ carbon emissions
will be cut by 70% and our supply
chain emissions by 20%•

We will replace single-use plastics
with eco-friendly alternatives
across our sites and operations

Before 2040•

Our operations’ will be climate
positive and our supply chain
emissions will be cut by 50%

Before 2050•

E

Environment

S

SocialG

Our supply chain will be
climate positive•

Everyone on our sites will
have access to mental andphysical health initiatives,
tools and training•

We will source all materials
and services in a way that
protects people and theenvironment•

We will reduce our total
recordable injuries casesby 50%••

We will be rated among
the leading employers forinclusion globally

We will improve the livesof millions of people incommunities where wesource and operate

Before 2030•

50% of our senior leaders will befrom high growth markets•

50% of our senior leadership will
be women

Governance18

ESG APPROACH

ENVIRONMENTSOCIAL

GOVERNANCE

Creations for happier, healthier lives of millions of people
Doubling our business by 2030
We will impact millions of lives
by working with our customers
to develop creations forhappier, healthier lives
Taste & Wellbeing
Going beyond great taste to create foodexperiences that do good and feel good,for body, mind and planet

By 2030
We will double our businessthrough creations that contributeto happier, healthier lives

Fragrance & Beauty
Craftsmanship, creativity, and passion forhappier, healthier lives through fragrancesfor every moment•

Flavour and taste solutions: authentic flavours,
kitchen ingredients, taste-enhancing technologies•

Consumer products for personal, home, fabricand oral care•

Natural functional ingredients: colours,preservatives, texturants•

Fragrances and beauty products that sparkhappiness and delight•

Natural nutritional ingredients: microbiome,
botanicals••

Plant-based food: non-animal protein alternatives

Fragrances to improve emotional wellbeing:
leveraging neuro-sciences to enhance sleep,emotional benefits and wellbeing•

Solutions to reduce undesirable
ingredients (sugar, salt, fat) and add healthsupporting nutrients (vitamins, minerals fibers)

19

APPROACH TO ESGENVIRONMENTSOCIAL

GOVERNANCE

History of acting sustainably with solid track record of ESG ratings
Confidence in achieving ambitious purpose targets
FTSE4Good
Index Series

Double ‘A rating’for climate andwater for two
consecutive years
CDP leader board
recognition for supplierengagement

Awarded the
EcoVadis Platinum
medal, the highest
accolade, ranking us
in the top 1%

Rated as ‘low-risk’ in2020 with a score of
17 and an industry
ranking 6 out of 416

Included in
SXI Swiss
Sustainability 25
Index

Ranked in the
top 1% in the
FTSE4Good IndexSeries, among
our peers

Transparent disclosure of comprehensive, audited ESG data based on reporting standards
Givaudan has applied the
GRI frameworks since 2010

Givaudan has adopted
Integrated reporting since 201620

Willem Mutsaerts
Head of Global Procurement & Sustainability

Environment• Reducing environmental footprint• Protecting ecosystems

21

APPROACH TO ESGENVIRONMENTSOCIAL

GOVERNANCE

Focus on Environment
Creating positive impact on the environmentby showing our love for nature

22

APPROACH TO ESGENVIRONMENTSOCIAL

GOVERNANCE

A bold ambition andclear roadmap. Before
2050, we will become aclimate positive business(scope 1, 2 and 3).”23

APPROACH TO ESGENVIRONMENTSOCIAL

GOVERNANCE

Reducing environmental
footprint••••

GHG emissions
Water
Waste
Plastics

24

APPROACH TO ESGENVIRONMENTSOCIAL

GOVERNANCE

Strong track record
In reducing environmental footprint

Emissions
Scope 1+2

2015

–

30%

2020

Electricity

Renewable sources

2015

81%

2020

Water
Efficiency

2015

–

23%

2020

Waste
Efficiency

2015

–

14%

2020

25

APPROACH TO ESGENVIRONMENTSOCIAL

GOVERNANCE

Ambitious targets
For environmental leadership

EmissionsElectricity

Water

Waste
Efficiency

Alternatives

Before 2050

By 2025

Current target

Current target

Before 2030

We will be aPower%of our sites withrenewable electricity

Reduce water use by
per tonne of% product2

Reduce waste by
per tonne of% product (year on
year average)3

ReplaceScope 1+2+3

climatepositive

Renewable sources100

business1

Efficiency

15

4

Plastics

singleuse plastics
with eco-friendly
alternatives

1. Scope 1, 2, 3, with intermediate targets before 2030 and 2040.
2. For municipal and groundwater, baseline 2009.
3. For incinerated and landfilled waste, baseline 2015.

26

APPROACH TO ESGENVIRONMENTSOCIAL

GOVERNANCE

Reducing environmental
footprint
Becoming a climate positive business
reducing scope 1,2,3 emissions

27

APPROACH TO ESGENVIRONMENTSOCIAL

GOVERNANCE

Givaudan’s carbon footprint
Our value chain emissions

Scope 1

5%
Emissions generated
by our operations

Scope 2

2%
Emissions generated
by our energy supply

Scope 393%

Emissions generated
by our supply chain

About 2,000,000 tonnes GHG emissions per year
28

APPROACH TO ESGENVIRONMENTSOCIAL

GOVERNANCE

Reducing scope 1 and 2
Actions driving our roadmap and key enablers

TARGETSACTIONS DRIVING OUR ROADMAPKEY ENABLERS

Before 2040
• Our operations’ will be
climate positive (scope 1)

Drive continuous improvement
to reduce the energy
consumption of our sites• Site environmental targets

By 2025• We will power 100% of ouroperations’ sites with renewableelectricity (scope 2)

Power our sites with renewableelectricity• Site assessments• Internal carbon price• Awareness

29

APPROACH TO ESGENVIRONMENTSOCIAL

GOVERNANCE

Reducing scope 3
Actions driving our roadmap and key enablers

TARGETSACTIONS DRIVING OUR ROADMAPKEY ENABLERS

Before 2050
• Our supply chain will be
climate positive (scope 3)

Engage suppliers in the net-zerojourney• Formulation, innovation

Refine understanding of ouringredients footprint and drive
ingredient innovation• Supplier engagement• Ingredient portfolio• Transportation, less air travel• Packaging

Reduce other emissions linked
to our value chain
30

APPROACH TO ESGENVIRONMENTSOCIAL

GOVERNANCE

Using biotechnology and innovation
To reduce scope 3 emissions

BisaboLife™

Ambrofix®

Nootkatone

The first biotech bisabolol

A sustainable, biodegradable ingredient

A sustainable ingredientCreating a new biosourced and naturalbisabolol without cutting rainforest in the
Amazon.

A biodegradable ingredient produced fromsustainably sourced sugar.

Novel fermentation process, producing
Nootkatone without depending on the fruit.

Positive environmental impacts

Positive environmental impacts

Positive environmental impacts• 100% natural & 100% renewablecarbon• 100% naturally derived & 100%
renewable carbon• Lower impact on farmland• Readily biodegradable• Readily biodegradable• Uses 220 times less land to produce
1 kg versus the traditional method• Uses 100 times less land to produce 1
kg versus the traditional method• Natural flavouring substance• Stable supply chain

31

APPROACH TO ESGENVIRONMENTSOCIAL

GOVERNANCE

We have set a bold climate ambition
Clear agenda to reduce scope 1, 2 and 3 emissions
Ou r a ch ie ve m e n t s-30 % 81%
Scope 1+2

2,000,000+11%

Renewable
electricity

Ou r a m bit ion s

10 0 %
Renewable
electricity

-70 %
-20 %

-10 0 %
-50 %Scope 1+2

Scope 1+2

Scope 3

Scope 3

Scope 3300,000

SCO PE 3

200,000

N e t GH G
e m ission s

SCO PE 2

Climatepositive

100,000(Scope 1,2+3)
Be for e 2 0 5 0

SCO PE 1
0-100,0002015
CO2e emmissions(tonnes)

2021
TODAY

2025

2030

2040

2050

Carbon storage(Clean compensation & insetting)32

APPROACH TO ESGENVIRONMENTSOCIAL

GOVERNANCE

Reducing environmental
footprint
Reducing water, waste andsingle use plastics

33

APPROACH TO ESGENVIRONMENTSOCIAL

GOVERNANCE

Reducing our environmental footprint

Water efficiency

Waste efficiency•

In 2020 we achieved 23% reduction of
our water intensity (vs 2015),•

More than 70% of our waste is either
reused, recycled or recovered•

Endorsed the UN CEO Water Mandate••

Awarded CDP A in water in 2020

35% of our sites achieved zero-waste tolandfill•

We apply circular principles in productdesign, sourcing, manufacturing andpackaging

Plastics alternatives•

Co-leading a WBCSD plastic andpackaging workgroup defining atransition for B2B chemical products•

Sustainability team has world classexpertise in plastic circularity,
leveraging the expertise from the B2C
plastic revolution

34

APPROACH TO ESGENVIRONMENTSOCIAL

GOVERNANCE

Protecting ecosystems• Sourcing responsibly• Promoting biodiversity

35

APPROACH TO ESGENVIRONMENTSOCIAL

GOVERNANCE

Our purpose commitment to responsible sourcing…

…to source all materials and services in a way that
protects people and the environment by 2030.”

Ensure trust andcompliance across ourentire supply chain

Embark on collaborativetransformational projects
in selected supply chains

Bring end-to-end raw
material traceability in key
supply chains

36

APPROACH TO ESGENVIRONMENTSOCIAL

GOVERNANCE

Fully traceable supply chain andenhancing agricultural practices
Contributing to

Positive environmental impacts• Soil health preservation• Biodiversity conservation• Increased carbon sequestration in the soil
Full traceability of Guarana seeds from the field to the final extract
Improved incomes for farmers
More market visibility for farmers

Supported by
Sustainable agricultural practices• Better fertilisation methods• Improved pruning practices to increase fruit yields• Investigating plant material improvement
Example: Guarana (Brazil)
An iconic botanical which seeds help fight tiredness and boost physical andmental performance. Used mostly in energy drinks and food supplements.
37

APPROACH TO ESGENVIRONMENTSOCIAL

GOVERNANCE

Protecting the environment
Preserving the biodiversity

Supporting the conservationof diversity of species

Sustainable use of natural resources
through best practices

Commitment to forest conservation• Collaborating with the University ofCalifornia, Riverside (UCR) on Citrus
Variety Collection• Devil’s Claw sustainable wild collectprogramme in Namibia• Received the Conservation
International’s Hero award for the
Tonka Bean programme in Venezuela• Supporting the care and preservation of
the most extensive, unique and diverse
citrus collection against threat ofgreening disease• The collection includes 1,000 varieties of
citrus fruits from around the globe• Securing the long term supply of thismajor medicinal plant• Organising wild collect of roots andtrain locals to responsible practices• Preserving the forests, the flora andfauna through the Conservation
Stewards Program• Empowering local communities toconserve 150,000 hectares of forests in
the Caura Basin

38

APPROACH TO ESGENVIRONMENTSOCIAL

GOVERNANCE

Driving sustainable solutions together:
Our ecosystem of partners
Collaboration with an ecosystem of partners to
support and inform our work on most material
sustainability issues
In 2020, Givaudan endorsed several calls for action on
ESG matters:

Memberships andcollaborations
With whom wepartner to achieve
our commitments

Assessments/
Ratings
External
evaluation of ourperformance

Working
to become a• Givaudan endorses UN CEO Water Mandate• Givaudan signs WBCSD CEO Guide to Human Rights;
Givaudan has also endorsed WBCSD’s CEO call-to-action
on Human Rights• Givaudan reinforces nature and climate commitments bysigning Business for Nature call-to-action• Givaudan supported the development of the WBCSD
Vision 2050: Time to transform

39

Simon Halle-Smith
Head of Global Human Resources & Environment, Health and Safety

Social• A place where people love to be and grow• Improving people’s lives

Governance• Governance structure• Compensation

40

APPROACH TO ESGENVIRONMENTSOCIAL

GOVERNANCE

Focus on Social
Caring for people and communities

41

APPROACH TO ESGENVIRONMENTSOCIAL

GOVERNANCE

This year of pandemic andprotest has shown just how vital
it is that businesses across theglobe work together and redefine
their role in building an inclusive
and equitable society.”
42

APPROACH TO ESGENVIRONMENTSOCIAL

GOVERNANCE

A place where people
love to be and growBecoming a leading employer for diversity and inclusion

43

APPROACH TO ESGENVIRONMENTSOCIAL

GOVERNANCE

Ambitions
Diversity and inclusion
Inclusive
talentacquisition

A diverse, inclusive organisation to best meet
our business goals.
Before 2030, we will be an even more balanced
and inclusive company.
Before 2025
We will be rated amongst the leading
employers for inclusion globally

Inclusive
talentexperiences

Our
focus
areas

Before 2030
50% of our senior leaders will be from highgrowth markets
2020: 25%

Before 2030
50% of our senior leaders will be women

Inclusive
leadershipdevelopment

2020: 25%

44

APPROACH TO ESGENVIRONMENTSOCIAL

GOVERNANCE

Driving progress
Building more inclusive
hiring practices
Our goal is to attract and find more diverse candidates• Inclusive job ads• Balanced slates for hiring and promotion• Hiring Manager Training

Success stories
Working with a Talent Acquisition innovation tool to create
inclusive job ads:
• Introduced an ‘Inclusion Meter’ to gauge how inclusive
our job ads are written• Edited 800 job ads
By using the TA innovation tool:•

63% of job ads being rated more inclusive•

Increase of percentage of female candidates applying to jobs moved from
38% to 52%
45

APPROACH TO ESGENVIRONMENTSOCIAL

GOVERNANCE

Driving progress
Fostering inclusive leadershipdevelopment
Our goal is to develop leaders, today and in the future• Evolving our Leadership Development programmes• Better Balance Approach• Managing unconscious bias at work

Success stories
The Better Balance dialogues provide an opportunity forsenior leaders to connect with colleagues and enhance theirunderstanding about our Better Balance approach.

We focus on:• Use of language• Understanding the diversity wheel

Better Balance Dialogue sessions•

26% of senior leaders took part in a Better Balance dialogue to date(325 out of 1260 senior leaders).

•

Insights gathered are feeding into our inclusive leadership capabilities
46

APPROACH TO ESGENVIRONMENTSOCIAL

GOVERNANCE

A place where people
love to be and grow
Caring for employee's safety, physical health and mental wellbeing

47

APPROACH TO ESGENVIRONMENTSOCIAL

GOVERNANCE

Ambitions
Caring for employees
Caring for employee’s safety, healthand mental well-being
Before 2025
We will reduce our total recordable injuries
cases by 50%
Before 2025
Everyone on our sites will have access tomental and physical health initiatives, tools
and training

Caring forour place

Caring forour people

Our
focus
areas
Strengthening
ourfoundation

48

APPROACH TO ESGENVIRONMENT

Solid track record in
Caring for employees’ safety

SOCIAL

GOVERNANCE

2020 Safety performance – “Everyone Safe Home Everyday”
2

Proud about our continuous safety
performance progress

1,82020 safety performance progress

0,8• 76% reduction LTIR1– reduced from 1.03 in 2009 to 0.25 in 2020

0,4

TRCR
LTI Rate

1,6
1,4
1,2
1

• LTI-free sites have increased from 47% in 2009 to 84% of
our sites not having any LTIs in 2020

• TRCR2 has been reduced from 1.76 in 2009 to 0.88 in 2020

0,6
0,2
0
2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

Total recordable case rate – our 2025 performance ambition
1,6

TRCR milestone

1,4
1,2
1
0,8
0,6
0,4
1. LTIR = Lost-Time-Incident Rate
2. TRCR = Total Recordable Case Rate

0,2
0
2018

2019

2020

2021

2022

2023

2024

2025

49

APPROACH TO ESGENVIRONMENTSOCIAL

Driving progress
Increasing the safetyat our workplaces

GOVERNANCE

China
In Songjiang: A soundfocus on the technicalfoundation and risk
management as well as
leadership and employee
engagement has resulted
in a long-standing safety
culture of more than 11
years without an LTI.

To reduce total recordable injuries at all sites.

In Nantong: A positive
safety culture has beenpromoted since production
started in 2015, with over
1.2 million hours of workwithout an LTI.

EHS by design• Investing in our plant and technical equipment• Further developing our Responsible Care Management System• Conducting periodic assessment of risk and control on-site
Expanding our Behavioural Safety Programme• Advanced safety leadership training• Comprehensive worker trainings on health and safety
FranceSuccess stories
Achievements across our sites around the worldreflect our success in behavioural safety

In Pomacle: A real
turnaround has beenachieved through focused
efforts to improve safety
behaviour at the site.
From eight LTIs in 2015 tofour in 2016, three in2018 and 0 in 2019 and
2020.

50

APPROACH TO ESGENVIRONMENTSOCIAL

GOVERNANCE

Driving progress
Mental and physical health
Providing access to mental and physical health initiatives,
tools and training for all employees
By taking care of our people through all aspects of their lives, weare helping them to have the physical energy, mental focus andemotional drive necessary to power our business as well as to takethe same energy to their activities outside of work.
Happier, Healthier Lives initiatives• Healthy, Home Working• EAP – Employee Assistance Programme and Happier, Healthier
Habits Campaign• Health and Wellbeing Programme

Success stories
Built around World Mental Health Day, the global webinar‘Happier, Healthier, Habits’ invited 16,000 employees to pay
attention to their mental wellbeing.

Happier, Healthier Habits campaign•••

21-day challenge (webinar)
Aimed to inspire people to pay attention to their mental health and emotional
wellbeing
Creating EAP awareness and engagement
51

APPROACH TO ESGENVIRONMENTSOCIAL

GOVERNANCE

Improving people’s lives• Givaudan Foundation• Green teams• Employees acting as ‘force for good’52

APPROACH TO ESGENVIRONMENTSOCIAL

GOVERNANCE

AmbitionsImproving people’s lives
Givaudancommunity
as a force
for good

All communities benefit by working
with Givaudan

By 2030
We will improve the lives of millions of people
in communities where we source and operate

Communities
where wesource

Our
focus
areas
Communities
where weoperate53

APPROACH TO ESGENVIRONMENTSOCIAL

GOVERNANCE

Driving progress
Givaudan Foundation
49

Contributing to happier, healthier lives
for people in communities

On-going
projects in

Givaudan Foundation mission

countries

27

58,000
Directbeneficiaries

To make a difference within the communities where Givaudan
sources and operates, we focus our efforts on education, healthand environment preservation. Our actions are nurtured by theknow-how and volunteering of Givaudan people.

Two pillars of activities
Communities where
Givaudan sources naturalingredients

Foundation works tosafeguard the future of thesecommunities and their fragile
environment.

Communities where
Givaudan employees work
Enables and supports
employee-driven projects that
foster education or make apositive impact on health800
Givaudanvolunteers

42
Partnerorganisations

54

APPROACH TO ESGENVIRONMENTSOCIAL

GOVERNANCE

Driving progress
Givaudan Green Teams in 2020
Living Givaudan’s Purpose• Over 500 Givaudan participants / volunteers• 32 projects submissions in 16 countries and 25 sites
represented• Over 21,500 beneficiaries / impacted stakeholders• >1,6 CHF million saved / potential createdSuccess stories
Our Green Teams, cross functional groups of
employees, find new ways of supporting local
communities and of improving the social andenvironmental performance of their local sites

Environmental progress••••

Over 16,000 GJ/year Energy units reduced / avoided
Over 210 tonnes/year Waste reduced / recycled and >3 tons singleuse plastics reduced
Over 1,800 tCO2 eq./year Emissions reduced / avoided
Over 49,000 m3/year Water reduced / recycled
55

APPROACH TO ESGENVIRONMENT

Driving progress
Employees as a force for good

SOCIAL

GOVERNANCE

Project in Brazil•

Sustainable
technology to create acolour-changing soap•

Encourages children
to wash their hands
for longer

Purpose Live! A path to innovation with social responsibility
Enables everyone of our almost 16,000 employees to be aforce for good in their local community• Pilot in 2020 involved 156 employees from 47 locations

Results:
improve hygiene longterm and offers abusiness opportunity• More than 400 ideas were generated in the first meetings• 15 tangible projects now under way

Success stories
Our two projects in Brazil and India are examples
of innovation with social responsibility which isgood for employees, good for communities andgood for our business

Project in India•

Repurpose used, onetime packaging
containers•

Providing basic
facilities forschoolchildren in India
who had nowhere towash their hands

Goal:
To instill permanent
hygiene habits
and reduce waste
long-term

56

APPROACH TO ESGENVIRONMENTSOCIAL

GOVERNANCE

Focus on GovernanceAn effective and transparent governance57

APPROACH TO ESGENVIRONMENTSOCIAL

GOVERNANCE

Governance structure
Stable and efficient corporate governance to ensure sustainable value creation

58

APPROACH TO ESGENVIRONMENTSOCIAL

GOVERNANCE

Board of directors
Prof. Dr.
Ing Werner
Bauer

CalvinGrieder• Separation of roles in line with SWX Code of Conduct:
Chairman of the Board and Chief Executive Officer Board

ChairmanCC, IC

NGC, IC• Ultimate strategic supervision and control of the
management of the Company, including Enterprise Risk
Management approach• 8 board members• Diverse board (nationality and gender)• Average tenure of 5.6 years

IngridDeltenre

LilianBiner

SophieGasperment

CC, NGC

AC

NGC• 100% independent board members• All board members re-elected on an annual basis• Compensation of Board of Directors is subject to annual
approval by shareholders

NGC

AC

CC

IC

Nomination& GovernanceCommittee

Audit
Committee

Compensation
Committee

Innovation
Committee

Victor Balli
AC, CC

MichaelCarlosOlivier
Filliol

NGC, ICAC, IC59

APPROACH TO ESGENVIRONMENTSOCIAL

GOVERNANCE

Executive Committee• Responsible for the day-to-day management of theCompany

GillesAndrierTom
HallamChief
Executive
Officer

Chief
Financial
Officer• 7 Executive Committee members• 6 nationalities• 4-6 year average tenure• Average of 20 years experience in the company• One of the longest standing CEO in the industry• Compensation of the Executive Committee is subject toannual shareholder approval
WillemMutsaerts
Head of Global
Procurement
andSustainability

Louie
D’Amico

Maurizio
Volpi

Simon
Halle-Smith

President
Taste &
Wellbeing

President
Fragrance &BeautyHead ofGlobal Human
Resourcesand EHSAnne Tayac
Head of
GivaudanBusiness
Solutions60

APPROACH TO ESGENVIRONMENTSOCIAL

GOVERNANCE

Other key governance principles
Good shareholder governancePrinciples of Conduct

Sustainability governance framework
Board of Directors

Executive Committee• One share – one vote
• 1 single class of share

Sustainability
Leadership
Team (SLT)Engage together todefine and drive theSustainability agenda

DivisionsandfunctionsManagement
tools

Stakeholder
engagement

Partners andadvisors• Ethical and fairbusiness practices

61

APPROACH TO ESGENVIRONMENTSOCIAL

GOVERNANCE

Compensation principles
Reflect the performance of the business and of
individuals and are aligned to our strategy

62

APPROACH TO ESGENVIRONMENTSOCIAL

GOVERNANCE

Compensation principles
Pay for performance andalignment of interests withshareholders
Total compensation is composed of:• Base salary for all 16,000 employees• Cash-based Profit Sharing Plan for 11,000 non-management
employees based on Group Financial objectives• Cash-based Annual Incentive Plan for 5,000 managers andexecutives•

Annual organic sales growth, EBITDA target and individual
objectives• Equity-based Performance Share Plan for top 500 employees•

Long-term Sales growth (vs. a selected peer group) and Free
Cash Flow targets• Benefits for all 16,000 employees (retirement, insurance andhealth care plans, etc)

63

APPROACH TO ESGENVIRONMENTSOCIAL

GOVERNANCE

Performance Share Plan
Adjustment to include also non-financial purpose-related targets

Continued:
Financial targets

Creations

PLAN
FORMAT80%• 40% Relative sales• 40% Free Cash Flow
4-year measurement period

PSP with 3-year
vesting time
Payout ranges
from 0 – 200%

Newly included:
Purpose-related targets

People10%• Gender diversity• Nationality mix• Employee safety

Achievement determined via payout matrix

Nature10%• Net GHG emission

reductions (Scope 1, 2+3)64

Conclusion
Committed to Growth,with Purpose

65

Strategy 2025
Committed to Growth, with Purpose

Creations
We create inspiring solutions
for happier, healthier lives

NatureGrowing
togetherwith ourcustomers

PeopleWe show our love for nature
through impactful actions

Communities

We nurture a place where
we all love to be and growWe bring benefits to allcommunities that work with us

Excellence, Innovation & Simplicity – in everything we do
4–5% GROWTHPURPOSE LINKED TARGETS>12% FCF
66

Purpose-linked targets
A high-performing business, acting as a force for good
Creations

NaturePeopleCommunities

E S G

E G

S G

E S G

By 2030

Before 2030

Before 2025

By 2030•

We will double our businessthrough creations that
contribute to happier,healthier lives.

•

Our operations’ carbon emissions
will be cut by 70% and our supply
chain emissions by 20%•

We will replace single-use plastics
with eco-friendly alternatives
across our sites and operations

Before 2040•

Our operations’ will be climate
positive and our supply chain
emissions will be cut by 50%

Before 2050•

E

Environment

S

SocialG

Our supply chain will be
climate positive•

Everyone on our sites will
have access to mental andphysical health initiatives,
tools and training•

We will source all materials
and services in a way that
protects people and theenvironment•

We will reduce our total
recordable injuries casesby 50%••

We will be rated among
the leading employers forinclusion globally

We will improve the livesof millions of people incommunities where wesource and operate

Before 2030•

50% of our senior leaders will befrom high growth markets•

50% of our senior leadership will
be women

Governance67

Q&A session
Annual Investor Conference April 2021
Annual Investor
Conference

1 2 3
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Call in using thededicated dial-indetails you
received when you
registered for the
Q&A

Mute thesound onyour
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laptopPress * and 1
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to ask a question

68

Reporting suite2020 Integrated
Annual Report
AVAILABLE IN ENGLISH

PDF from 29 January 2021
Print from 25 March

For more information please consult our2020 Full Year Reporting Suite on:https://integratedreport.givaudan.com
Online version
AVAILABLE IN ENGLISH

From 29 January 2021

2020 GRI
Sustainability
Report2020 Governance,
Compensation and
Financial Report

AVAILABLE IN ENGLISH

AVAILABLE IN ENGLISH

PDF from 29 January 2021

PDF from 29 January 2021
2020 Integrated Annual
Report Highlights
AVAILABLE IN ENGLISH,FRENCH AND GERMANPDF in English from29 January 2021
Print and language versions
from 25 March 2021
69

Disclaimer
No warranty and no liability
While Givaudan is making great efforts to include accurate and up-to-date information, we
make no representations or warranties, expressed or implied, as to the accuracy orcompleteness of the information provided on this presentation/hand-out and disclaim any
liability for the use of it.
No offer and no solicitation
The information provided on this hand-out does not constitute an offer of or solicitation forthe purchase or disposal, trading or any transaction in any Givaudan securities. Investors
must not rely on this information for investment decisions.
Forward-looking information
This hand-out may contain forward-looking information. Such information is subject to avariety of significant uncertainties, including scientific, business, economic and financial
factors, and therefore actual results may differ significantly from those presented.
Copyright © 2021 Givaudan SA. All rights reserved.

70

Thank you
Givaudan SA
Pierre Bénaich, Head of Investor Relations