United States of America Givaudan United States, Inc. USD 0.05 Givaudan Flavors Corporation USD 0.1 Givaudan Fragrances Corporation USD 0.1 Givaudan Flavors and Fragrances, Inc. USD 0.1 Naturex Holdings, Inc. USD 0.1 Naturex, Inc. USD 1 Vegetable Juices, Inc. USD – Ungerer Industries, Inc USD 1,807 Ungerer and Company, Inc USD 650 DDW, Inc. USD – The Williamson Group, Inc. USD – D.D. Williamson & Co., Inc. USD 2 D.D. Williamson & Colors, LLC. USD – D.D. Global Holdings, LLC. USD – Custom Essence USD 275 Uruguay Ungerer Uruguay SA UYU 360 Venezuela Givaudan Venezuela SA VES 4.5 Vietnam Givaudan Vietnam Company Limited USD 3,279 33. Disclosure of the Process of Risk Assessment Risk management in Givaudan is an integral part of the business. It is a structured and continuous process of identifying, assessing and deciding on responses to risks. The reporting of the opportunities and threats that these risks create and how they might hinder the business in achieving its objectives is also part of managing risks. Risk management is the responsibility of the Board of Directors, which delegates to the Executive Committee the management of the overall company risk management process. The Group actively promotes the continuous monitoring and management of risks at the operational management level. The Givaudan Enterprise Risk Management Charter describes the principles, framework and process of the Givaudan Enterprise Risk Management, which ensure that material risks are identified, managed and reported. It defines the associated roles and responsibilities which are reflected in the delegated authorities. Enterprise Risk Management encompasses both the Fragrance & Beauty and Taste & Wellbeing businesses, as well as Givaudan Group functions. It includes all types of risks in terms of their nature, their source or their consequences. The process aims to be comprehensive, organised and documented in order to improve compliance with corporate governance regulations, guidelines and good practices; better understand the risk profile of the business; and provide additional risk-based management information for decision making. The objectives of the Risk Management process are to continuously ensure and improve compliance with good corporate governance guidelines and practices as well as laws and regulations, where applicable; facilitate disclosure to key stakeholders of potential risks and the company’s philosophy for dealing with them. At the same time, the process creates the awareness of all key executives of the magnitude of risks; provides risk-based management information for effective decision-making; and safeguard the values of the company and its assets, and protect the interests of shareholders. Givaudan’s management, at all levels, is accountable for ensuring the appropriateness, timeliness and adequacy of the risk analysis. Mitigation decisions are taken at individual and combined levels. This management is also responsible for implementing, tracking and reporting the risk mitigation directives of the Executive Committee, including periodic reporting to the Board. The assessment is performed in collaboration between the Executive Committee, divisional and functional management teams and the Corporate Compliance Officer. The Board of Directors’ Audit Committee also promotes the effective communication between the Board, Givaudan’s Executive Committee, other senior corporate functions and Corporate Internal Audit in order to foster openness and accountability. Givaudan has carried out its annual review of internal controls over accounting and financial reporting. A risk assessment is performed throughout the Internal Control System for those identified risks which may arise from the accounting and financial reporting. Then, relevant financial reporting controls are defined for each risk. 34. Other information On 26 January 2022 Givaudan announced that it has acquired a 48% stake in Nanovetores Group, a privately owned innovation company known for its unique technology of encapsulation for a diverse range of ingredients that are sold across the world to beauty brands. The company is based in Florianopolis, in Brazil and employs 56 people. The acquisition has no impact on the 2021 financial statements. Governance Report Compensation Report Consolidated Financial Report Statutory Financial Report Appendix 97 Givaudan — 2021 Governance, Compensation and Financial Report Notes to the consolidated financial statements