A sustainable investment case We continue to demonstrate the resilience and efficiency of our natural hedges across geographies, customer types and product categories. As unique co-creations with our customers, our products are supported by consumer insights and diversified exposure to all regions and customer segments. This broad portfolio of products, geographies and customers provides a natural hedge to offer opportunities for consistent growth. With the highest standards of a responsible business, we will continue on our path of sustainable value creation for all stakeholders, driven by our purpose to do things differently, push ourselves to go further and contribute to tackling society’s big challenges. We invest for the future, committed to growth for people, planet and profit. Sharing value with our shareholders Since the Company’s IPO in 2000, we have created over CHF  35  billion of total shareholder return, with an average annual yield of 13.3% compared with 4.1% for the SMI Index in the Swiss market. The dividend has risen year on year, reflecting our commitment to returning cash to shareholders. At the end of 2021, Givaudan had approximately 37,837 registered shareholders owning 61% of the capital. The top 20 registered and non-registered shareholders owned 46% of the capital. Swiss and US shareholders held approximately 57% of all shares. Givaudan’s free cash flow at the end of 2021 was CHF 843 million. At the Annual General Meeting on 24 March 2022, the Board of Directors will propose a cash dividend of CHF 66.00 per share for the financial year 2020, an increase of 3.1% compared to the previous year. If approved, this will be the 21 st consecutive dividend increase following Givaudan’s listing on the Swiss stock exchange. Givaudan as a highly-rated sustainable investment We are committed to being a successful, sustainable business and strive to be a force for good. Part of this commitment is to be a company that balances profit with purpose, and we aim for a growth in our business that also has a positive impact on people and the planet. Working hand-in-hand with our customers, we respond to changing consumer needs for products that support health and wellbeing yet also meet their sustainability expectations and demand for greater transparency. We feel that business can, and should, play its part to help address challenges such as the climate crisis, inequality and economic uncertainty. We support the UN Sustainable Development Goals and focus our efforts on those goals to which we can contribute the most. We want to lead by example as a responsible business and are a member of the B Movement Builders to engage for change with other purpose-driven publicly traded businesses. Our work in sustainability and ESG has been widely recognised externally. This includes our ESG risk rating by Sustainalytics which categorised the business as low-risk and amongst industry leaders with a ranking of 13 out of 480. It also includes CDP double A rating for the third consecutive year for leadership in climate action and water stewardship, a gold EcoVadis medal, i nclusion in the SXI Swiss Sustainability 25 index, inclusion in FTSE4Good Index Series ranking us in top 2% performers among peers, and in MSCI ESG AAA rating since 2017. Our dialogue with the capital market We offer timely and responsible information to ensure transparency and continuously raise awareness about our Company. To help achieve this and to meet existing and potential shareholders, roadshows and conferences are held by members of Key share figures For the year ended 31 December. In Swiss francs except for number of shares 2021 2020 2019 2018 2017 Market capitalisation (in millions) 44,247 34,441 2 7, 9 8 7 21,016 20,794 Number of issued shares 9,233,586 9,233,586 9,233,586 9,233,586 9,233,586 Share price as at last trading day 4,792 3,730 3,031 2,276 2,252 Share price, highest 4,830 4,075 3,052 2,478 2,289 Share price, lowest 3,405 2,681 2,285 2,087 1,716 Earnings per share – basic (CHF) 89.03 80.59 76.17 71.92 78.18 Total shareholder return (in %) ¹ 30 .19 25.11 35.81 3.64 23.69 1. Definition can be found in the glossary, page 169. Givaudan – 2021 Integrated Annual Report 48 Financial value creation A su stainable investment case