Business model Creating for happier, healthier lives, with love for nature C r e a t i o n S o u r c i n g W i n n i n g R e s e a r c h S u p p l y P r o d u c t i o n R a w m a t e r i a l s D i s c o v e r y t h e b r i e f S e r v i c e s C o n s u m e r u n d e r s t a n d i n g Creating shared value for our key stakeholders Cash flows Customer orders Re-invest in innovation and shared, responsible growth Returns to shareholders and stakeholders Finance our operations sustainably G i v a u d a n B u s i n e s s S o l u t i o n s Our two business activities Taste & Wellbeing Fr agrance & Beauty Our value chain Through our value chain we create innovative products and solutions that have a positive impact on nature, people and communities. The corresponding outputs and impacts deliver growth – in partnership with our customers – through creating inspiring products for happier, healthier lives. Our business model Natural Capital Raw materials, indirect materials and services, responsible and innovative sourcing programmes Human Capital The skills, motivation, diversity of our people, best-in-class health and safety procedures Inputs M anufactured Capital Production sites, infrastructure, end-to-end supply chain solutions Intellectual Capital Technology, patents, know- how, processes Financial Capital Funds available to the Group Social and relationship Capital Our relationships with local communities, regulators and industry bodies, brand and reputation Strategy Page 18 Governance Page 110 Givaudan – 2021 Integrated Annual Report 26 Strategic value creation Busi ness model