VII. Historical FCF margin vs set target 2017 PSP Reference test target setting ¹ Ta r g e t ² 1. Cumulative FCF margin of the related previous performance period. 2. Four-year target for corresponding PSP. 2018 PSP 2019 PSP 2020 PSP 13.6 % 14 % 12.4 % 12 % 12.5 % 12 % 12.4 % 12 % A 100% payout for the Creations targets can be obtained where a target combination of the Creations performance criteria is met, such as when relative average sales growth is in line with the peer groups and cumulative FCF margin is 12%. An additional payout cap applies, so that the extent to which outperformance on FCF may counterbalance lower sales growth achievement is restricted. Accordingly, in the event relative sales growth is below the peer group and FCF margin targets are achieved or exceeded, a cap of at 100% applies. VIII. Performance Share Plan Creations payout matrix  .  .    C umulative FCF / Sales Dark er region indicative of target achievement zone for 100% payout. Note that a cap at 100% applies in the event relative sales growth is below zero. % % % Average Sales Growth compared to peer group Nature performance targets (10%) One of the Company's purpose ambitions is to be climate positive by 2050 regarding GHG emissions relating to scopes 1 (direct emissions), 2 (owned indirect emissions) and 3 (not-owned indirect emissions). Givaudan has created a path to achieve this ambition and for 2021 PSP grants, they have a three-year target reduction of 40,000 (CO₂ equivalent tonnes) versus the 2020 baseline, reflected in table IX. below, with minimum, on target and maximum achievements. People performance targets (10%) The Company also has purpose ambitions that it will reduce total recordable injury rate of employees by 50% by 2025, and increase participation in senior leadership of women and high growth market nationality to 50% by 2030. Givaudan has created a path to achieve these ambitions and for 2021 PSP grants it has a three-year target to reduce the total recordable injury rate (TRCR) to 0.90 incidents per 100,000 Full Time Equivalent employees at the end of 2023, and to increase senior leader representation by women and high growth markets by 6% by the end of 2023 ¹. See table IX. below, with minimum, on target and maximum achievements. IX. Performance Share Plan People and Nature payout matrix Payout 0% 100% 200% Nature performance targets Net GHG reduction vs 2020 (CO₂e tonnes) –60,000 ² 40,000 140,000 People performance targets % females in senior leadership ¹ 26% 32% 38% % HGM nationals in senior leadership ¹ 24% 30% 36% Safety TRCR 2023 1.24 0.90 0.63 1. Senior leadership roles represent approximately the top 1% of the global workforce based on Givaduan's job classification system. 2. Represents an annual increase of only 1% GHG emissions versus projected average organic sales growth of 4–5% per year. Share payout caps For LTIP awards granted before 2021, based on the extent that performance criteria are met, the actual number of shares vesting at the end of the performance period may vary between 0% and 200% of the Performance Shares initially granted. The level of vesting is dependent on the combination of performance achievement against both criteria: relative sales growth and free cash flow. Reflecting business and individual performance Governance Report Compensation Report Consolidated Financial Report Statutory Financial Report Appendix 30 Givaudan — 2021 Governance, Compensation and Financial Report