Reflecting business and individual performance Givaudan owes its success to a diverse pool of highly engaged and talented people. The Company's compensation policies are an essential component of its employee value proposition and a key driver of both individual and business performance. Compensation programmes reflect the performance of the business and of individuals and are aligned with the ambition of ensuring that Givaudan is a place where everyone feels welcome, valued and inspired. Rigorous governance, policies and processes to ensure that compensation practices are aligned with Givaudan's principles of integrity, fairness and transparency. This report on compensation, complementing the integrated report, has been prepared in compliance with the Ordinance against Excessive Compensation in Listed Stock Companies (OaEC) and with the Directive on Information relating to Corporate Governance, issued by the SIX Swiss Exchange. The report also comprises information required under the Swiss Code of Obligations and takes into account the recommendations set out in the Swiss Code of Best Practice for Corporate Governance of Economiesuisse. 1. Compensation governance 1.1 Compensation Committee The Compensation Committee supports the Board of Directors (Board) in establishing and reviewing compensation policies. It regularly reviews Company-wide programmes in regard to base salary, pension and benefit plans. The Compensation Committee also annually reviews and approves the performance targets and related payouts under the annual incentives and share- based long-term incentives, while the applicable performance criteria are set by the Board. The Compensation Committee is also responsible for reviewing and approving individual compensation and benefits of each Executive Committee member as well as recommending compensation for the Board. The Compensation Committee consists of three independent members of the Board and is currently chaired by Prof. Dr-Ing. Werner Bauer. The Chief Executive Officer (CEO) is regularly invited to Compensation Committee meetings. The Head of Global Human Resources acts as secretary of the Compensation Committee. The Chairman of the Compensation Committee may invite other executives as appropriate. However, executives do not participate in discussions regarding their own compensation. The Compensation Committee meets four to five times a year and informs the Board of its deliberations, recommendations and resolutions after each meeting. The minutes of the meetings are available to the full Board. The Committee utilises independent external consultants to benchmark the compensation of senior management and the Board. Table I, on the next page, summarises the Compensation Committee standing agenda items and approvals. 1.2 Specific activities in 2021 Performance Share Plan (PSP) After Givaudan articulated its purpose around the four focus areas of Creations, Nature, People and Communities, the Environment, Social and Governance (ESG) critera were fully integrated into its 2025 business strategy. The Compensation Committee reviewed the Company compensation plans to ensure alignment with the purpose goals and ambitions. Accordingly, certain aspects of the PSP changed with effect from 1 January 2021. Details of these changes are explained in section 3.6. Continuing response to COVID-19 In 2021, to provide further support to all employees as the pandemic continued to impact their mental health, the Company extended its employee benefit offering from a local to a comprehensive global Employee Assistance Programme. This offers a 24/7 helpline in over 200 languages on a variety of topics such as personal wellbeing, mental health, relationships, family matters and workplace challenges. Equal pay certification As part of its commitment to being recognised as a leading employer for inclusion, Givaudan has obtained equal pay certification in July 2021 for all sites in Switzerland. The Swiss Fair-ON- Pay certificate was received following an external review in accordance with the requirements of the Federal Office for Gender Equality. The Company is working towards similar recognition in the other markets where it operates. Governance Report Compensation Report Consolidated Financial Report Statutory Financial Report Appendix 23 Givaudan — 2021 Governance, Compensation and Financial Report