Table of contents A Y EAR IN REVIEW 6 Our impact in 2021 8 High lights 2021 10 Ch airman's letter 12 CE O interview STRATEGIC VALUE CREATION 18 Our 2025 strategy 26 Busin ess model 28 Tr ends, risks and opportunities 32 S takeholder engagement and materiality FINANCIAL VALUE CREATION 40 Business performance 4 8 A su s tainable investment case 4 38 16 By being ‘Committed to Growth, with Purpose’, we delivered profitable growth in 2021 – the first year of our five-year strategic cycle – while having a positive sustainable impact through our creations on people, nature and communities. This report outlines how we achieved growth and made positive impacts during the year. Givaudan – 2021 Integrated Annual Report 2 Table of contents