Our Audit Approach Summary Key audit matters Based on our audit scoping, we identified the following key audit matters: – Acquisition accounting; and – Carrying value of intangible assets. Materiality Based on our professional judgment we determined materiality for the Group as a whole to be CHF 65 million. Scoping Based on our understanding of Givaudan’s operations, we have defined 17 component operations in 11 countries that are in scope for group reporting purposes. We have requested from the auditors in these countries to perform audit procedures to address the risks identified in our risk assessment phase. Coverage ratio on group sales, group operating income and group total assets are disclosed below. Key Audit Matters Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the consolidated financial statements of the current period. These matters were addressed in the context of our audit of the consolidated financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters. 99 Givaudan — 2021 Governance, Compensation and Financial Report Governance Report Compensation Report Consolidated Financial Report Statutory Financial Report Appendix