Chairman’s letter 7 we adopted virtual meetings and new ways of working with Dear shareholders, our customers. As a result, cyber security has increased in importance and, with the Board’s role to ensure robust risk 2021 was the start of our new five-year strategy cycle management, we have been strengthening our capabilities and ‘Committed to Growth, with Purpose’, and I am very pleased to preparedness in this area. share that we delivered a very strong business performance. We continued to respond with agility to the ongoing impact of At the AGM in March 2022, all Board members will stand for the global pandemic, turning challenges into opportunities. I’d re-election, including long-standing members Michael Carlos and like to thank our colleagues, customers, partners and suppliers Prof. Dr-Ing. Werner Bauer who have reached the age limitation for their great collaboration and commitment for all that we as set out in the Board regulations. We believe it is in Givaudan’s achieved. I’d also like to thank you for your commitment and best interest to keep them both on the Board to ensure good investment in Givaudan continuity during the onboarding of new Board members, given the difficulties caused by the pandemic. We will propose to the In 2021 we delivered solid topline growth of 7.1% in Swiss francs Annual General Meeting of shareholders on 24 March 2022, to and free cash flow generation of CHF 843 million or 12.6% of elect Tom Knutzen as a new Board member. We have an sales, in line with our 2025 financial targets. On the basis of experienced team in place at the Board level, and at all levels we Givaudan’s strong performance in 2021 and its continued solid continue to ensure we have the necessary competencies and the financial position, the Board of Directors will propose an right blend of expertise and experience. increase in the dividend to CHF 66.00 at the Annual General Meeting on 24 March 2022. If accepted, this will be the I’d like to thank our colleagues, twenty-first consecutive increase since our listing on the Swiss stock exchange. customers, partners and suppliers The global macro trends that we identified for our 2025 for their great collaboration strategy continue to drive our business and in many areas have and commitment for all that been strengthened by the pandemic. Our focus areas of health we achieved. and wellbeing, responsible sourcing and digitalisation are leading us to further exciting innovations, offering new ways of bringing value to our customers and meeting consumer needs. I’d like to express my heartfelt thanks and gratitude to my fellow We also continued to broaden our portfolio with strategic members of the Board of Directors, the Executive Committee acquisitions that will enable us to provide even more complete and all our colleagues worldwide for their hard work and solutions, as well as broaden our customer reach and support dedication, especially during another challenging year. I am our growth ambitions. always so impressed by the contribution and passion of everyone at Givaudan to pursue excellence in everything we do. We recognise the changing expectations on the role of businesses to meet the requirements of a wider set of Finally, I would like to share my thanks to you, our shareholders, stakeholders in financial and non-financial matters. Our ESG for your trust and continuing support. I remain confident this approach is therefore led by our purpose ambitions and targets, Company is well positioned for the future and long-term which are fully embedded in our 2025 strategy. This is how we success and will continue to create further stakeholder value will address the urgent challenges facing society such as climate through profitable, responsible growth, guided by our purpose. change and ensure our sustainable long-term performance. We hold ourselves accountable through the highest standards of I send my best wishes and health for the year ahead. reporting with the IR framework and GRI standards. For the first time, we have included the Sustainability Accounting Standards Board (SASB) mapping table and the Task Force on Climate-related Financial Disclosures (TCFD) recommendations table in our reporting suite. Calvin Grieder Digitalisation continues to provide exciting opportunities to Chairman change the way we do business, either to provide new products and new engaging experiences for our customers or to design simpler, more agile business services. The pandemic has also accelerated the digital workplace transformation, as Givaudan – 2021 In a Nutshell