4. Compensation of the Executive Committee 4.1 Benchmarking of Executive Committee positions All benchmarking activity related to Executive Committee positions is performed by independent consultants. Givaudan’s executive compensation targets base pay at the market median. Executive Committee members have the opportunity to be rewarded with above- median pay for sustained outstanding performance from a number of variable compensation components. These variable elements reflect achievements against quantitative targets established by the Board. Variable compensation, particularly long-term components, represents a significant portion of an executive’s total compensation. In general, the weight of variable compensation increases with executive’s level of responsibility and the impact of their position on Company results. In 2021, Executive Committee compensation was reviewed against a peer group of other Swiss multinational companies. This peer group consisted of Swiss Leader Index (SLI) companies of comparable market cap (approximately 0.5x to 2x), excluding financial services institutions. The benchmark included 12 companies: ABB, Alcon, Geberit, Kuehne + Nagel, LafargeHolcim, Lonza, Richemont, Schindler, SGS, Sika, Logitech and Swisscom. Consistent with prior external benchmarks, the review confirmed the positioning against the market remains appropriate. The findings have been cross-validated against a listed European company comparator group with the finding that Givaudan compensation positioning appears similar versus the European peer group than the SLI companies. The European benchmark included 10 companies: Akzo Nobel, Beiersdorf, Carlsberg, Coca-Cola European Partners, DSM, Kerry Group, Pernod Ricard, Smith & Nephew, Solvay and Symrise. The European peer group consists of companies of a similar size (approximately 0.5x to 2x market cap and turnover of Givaudan). In addition, the peer group chosen is a competitor group of Givaudan considering talent acquisition and retention. XII. Executive compensation benchmark Below median Median Above median Base pay ■ Short-term incentive ¹ ■ Long-term incentive ² ■ Total compensation ■ 1. Annual Incentive Plan (please refer to section 3.5). 2. Performance Share Plan (please refer to section 3.6). The results confirm that total compensation of the Executive Committee is overall aligned with the market. The long-term incentive compensation is positioned above median, which is in line with Givaudan policy and reflects our continued strong focus on rewarding outstanding performance over the long term. In 2021, independent consulting services were contracted with Agnes Blust Consulting regarding Executive Committee compensation topics, including benchmarking. Additional executive compensation data was provided by Mercer who also provide general compensation and international mobility market data to the Company. 4.2 Compensation levels in 2021 Total Executive Committee compensation reported in 2021 remained stable compared to 2020, representing full year compensation for seven members (including the Chief Executive Officer (CEO)). Total Executive Committee compensation for the reporting period increased by 2.8%, reflecting higher annual incentive achievement. Total fixed compensation and long-term incentive grant values did not increase versus the previous reporting period. Further details are available in section 3.5. Executive Committee member compensation has been set in accordance with our compensation principles, including consideration of roles and responsibilities and with reference to our compensation benchmarks. 4.2.1 Highest total compensation The CEO, Gilles Andrier, received the highest total compensation in 2021. For compensation details, please refer to table XIV. 4.2.2 Other compensation, fees and loans to members or former members of the Executive Committee No other compensation or fees were accrued for or paid to any member or former member of the Executive Committee during the reporting period. No member or former member of the Executive Committee or related parties had any loan outstanding as of 31 December 2021. Reflecting business and individual performance Governance Report Compensation Report Consolidated Financial Report Statutory Financial Report Appendix 32 Givaudan — 2021 Governance, Compensation and Financial Report