A year in review Economic / Governance Environment Social Appendix Material topics Disclosure 102 – 46 substantial influence on the decisions of our stakeholder Defining report content and topic boundaries groups or that represent Givaudan’s significant economic, Our materiality assessment helps us to align our business environmental and/or social impacts. Our last comprehensive with the expectations of our stakeholders and with society in materiality assessment including external stakeholder general. Our materiality assessment process aims to identify interviews was done in 2019. In 2020, we internally reviewed and prioritise the issues of the greatest material importance; our list of material topics to make sure it is consistent with it is also the basis for defining our GRI reporting content and our newly defined Purpose, our Strategy 2025 and our analysis the boundaries of the topics. The process follows the of risk categories. principles of stakeholder inclusiveness, environmental and social context, materiality and completeness according to the In 2021, we refreshed our materiality assessment with the GRI Standards. help of a third-party expert. Starting from desk research, a review of peers, ESG reporting frameworks, internal reviews Materiality assessment with selected Givaudan leaders as well as ratings and trend Our activities have an impact that goes far beyond economic reports (e.g., GRI Standards, SASB Standards, MSCI ESG results. To be successful in the long run, we need to align our Rating, Dow Jones Sustainability Index), we developed an business performance with the expectations of our stakeholders initial long list of material topics that might be relevant to our and with society in general. To achieve this goal, a deep stakeholders. We then reduced this to a short list by assessing understanding of the most relevant topics for the different the importance of each and clustering overlapping material groups of stakeholders is essential. topics. We also excluded purely financial and operational issues, as well as hygiene factors, as we expect these topics to Our first materiality assessment was undertaken in 2011 in line be actively managed to such an extent that they do not with the GRI framework to strengthen our commitment to require explicit inclusion. dialogue, and to support our assumptions and identify the most important topics for our sustainability reporting content. We use These short list topics were assessed for their importance, taking the Givaudan materiality assessment to prioritise aspects potential impacts, risks and opportunities as well as the identified as being of most concern to our customers and other significance for Givaudan’s business into account. The topics key stakeholders. The matrix is reviewed through discussion were then discussed and ranked in detail through internal with the main stakeholders, and we aim to conduct a workshops with selected Givaudan leaders, who both brought in comprehensive assessment of surveys and interviews on a the perspectives of key stakeholders and evaluated the potential regular basis. We address critical issues and strategic priorities, environmental and social impact of Givaudan’s business on each look for opportunities to improve management and topic. The result of this exercise was validated by our Executive relationships, and identify possible projects to work on together. Committee and is reflected in our list of 15 topics. We are planning to update our assessment using direct inputs from In the middle of each business strategic cycle, we conduct a external stakeholders over the next two years. review to acquire meaningful information about changes and emerging topics. Our material topics are those that have a 14 Givaudan — 2021 GRI Sustainability Report