4. Investments in Joint Ventures and Associates Name of joint ventures Principal activity Country of incorporation Ownership interest / Voting rights BGN Tech LLC (in liquidation) Innovative natural ingredients USA 49% Natural Extracts International Ltd Natural ingredient derivatives production Mauritius 49% Vanilla International Ltd Natural ingredient collection and extract Mauritius 49% 5. Debt Givaudan SA entered into the following debt transactions: Issue date Type of debt Currency of principal Principal amount in millions Redeemable Interest rate Type of interest 2021 2020 in millions of Swiss francs 2011 Public bonds CHF 150 07 Dec 2021 2.125% Fixed Reimbursed 150 2014 CHF 150 19 Mar 2024 1.750% 150 150 2016 CHF 100 07 Dec 2022 0.000% 100 100 CHF 200 05 Dec 2031 0.625% 200 200 2017 Private placements EUR 100 20 Dec 2022 Floating 104 108 EUR 200 20 Dec 2024 1.331% Fixed 207 216 2018 Public bonds CHF 200 09 Apr 2025 0.375% 200 200 EUR 500 17 Sep 2025 1.125% 516 538 EUR 800 17 Sep 2030 2.000% 826 861 2020 CHF 150 10 Nov 2028 0.150% 150 150 2021 CHF 150 07 Jun 2027 0.125% 150 CHF 150 07 Jun 2030 0.375% 150 2021 Other Borrowings CHF 20 04 Jan 2022 Floating 20 USD 80 05 Jan 2022 72 Total debt as at 31 December 2,845 2,673 As at 31  December 2021, short term debt includes an overdraft of CHF  141  million (2020: CHF 319 million) related to the cash pooling agreements with a Group company. 6. Indirect Taxes The company is part of a Group for VAT purposes with two other affiliates of the Group in Switzerland. The company is jointly and severally liable towards the tax authorities for current and future VAT payables of the VAT Group to which it belongs. 7. Equity As at 31 December 2021 the share capital amounts to CHF 92,335,860, divided into 9,233,586 fully paid-up registered shares, with a nominal value of CHF 10.00 each. Every share gives the right to one vote. The Board of Directors has at its disposal conditional capital of a maximum aggregate amount of CHF 7,481,980 that may be issued through a maximum of 748,198 registered shares, of which a maximum of CHF 1,618,200 can be used for executive share option plans. At the Annual General Meeting held on 25 March 2021 the distribution of an ordinary dividend of CHF 64.00 per share (2020: CHF 62.00 per share) was approved. The dividend payment has been made out of available retained earnings. Notes to the statutory financial statements 110 Givaudan — 2021 Governance, Compensation and Financial Report Governance Report Compensation Report Consolidated Financial Report Statutory Financial Report Appendix