Givaudan

The role of the administrative, management and supervisory bodies

Board oversight of ESG strategy

The Board oversees every aspect of our ESG strategy and continues to actively shape the direction and targets we set. I am proud to acknowledge the solid progress we have made on many of our environmental and social targets, reflecting our dedication to sustainability and positive community impact.

Board composition and governance

As part of our succession planning, the Nomination Committee regularly reviews the succession of all Executive Committee members, ensuring that we are prepared for any future transitions. I am delighted that we have successfully nominated highly experienced internal leaders to step into the roles of retiring Executive Committee members.

Non-executive and independent Board members

100% Non-executive and independent Board members (2023: 100%)

Board changes and appointments

I am also pleased that we will propose to elect Melanie Maas-Brunner with effect as of the date of the AGM, and Louie D'Amico, with effect as of 1 October 2025, as new Board members. At the AGM in March 2025, Olivier Filliol, a valued member of the Board, will retire, and on behalf of the Board, I extend our heartfelt gratitude for his dedication and significant contributions.

Strategy oversight

As we enter the final year of our current strategy cycle, the Board is actively guiding the establishment of our 2030 ambitions, inspired by the opportunities that lie ahead, and I am confident that Givaudan is well-positioned for a sustainable growth path in the future.

Information provided to and sustainability matters addressed by the Board

ESG strategy oversight

The Board oversees every aspect of our ESG strategy and continues to actively shape the direction and targets we set. We have made significant progress towards our ESG goals, turning responsibility into an opportunity to create shared value for our stakeholders and the planet.

Strategy development and oversight

As we enter the final year of our current strategy cycle, the Board is actively guiding the establishment of our 2030 ambitions, inspired by the opportunities that lie ahead.

Non-financial targets in compensation

20% Non-financial targets in Performance Share Plan compensation - Our performance-based compensation includes sustainability targets to align leadership with our ESG ambitions.

Integration of sustainability-related performance in incentive schemes

20% Non-financial targets in Performance Share Plan compensation

Our performance-based compensation includes sustainability targets to align leadership with our ESG ambitions. This ensures that sustainability considerations are integrated into executive compensation and decision-making processes.

Statement on due diligence

Responsible sourcing and due diligence

53% Of our total materials and services sourced responsibly (2023: 33%) - % by procurement spend, flagged as sourced responsibly upon completion of basic due diligence as defined in our Sourcing4Good programme.

Child labour due diligence

We also recognise the importance of addressing social issues within our supply chain, particularly the risk of child labour. In 2024 we developed a training and vigilance programme to enhance our responsible sourcing efforts and collaborated with the Fair Labour Association and the International Labour Organization.

Due diligence processes

Through our Sourcing4Good programme, agronomy initiatives, and the Givaudan Foundation, we progressed towards our two community goals of sourcing responsibly and improving lives in communities where we source and operate. Our projects embody best practices across a range of topics from regenerative agriculture and biodiversity to water, health and sanitation (WASH), human rights, traceability and more.

Strategy, business model and value chain

Givaudan's business model

Givaudan's strategic planning is a structured process that reflects our commitment to sustainable growth and value creation for all stakeholders. In 2020, we launched our 2025 five-year strategy, 'Committed to Growth, with Purpose,' which serves as a roadmap for achieving our mid-term goals while aligning with our long-term ambitions.

Sales from business activities

Product segments within divisions

Taste & Wellbeing segments:

• Beverages: 36%
• Savoury: 37%
• Sweet Goods: 15%
• Dairy: 12%

Fragrance & Beauty segments:

• Consumer Products: 63%
• Fine Fragrance: 21%
• Fragrance Ingredients & Active Beauty: 16%

Value chain and portfolio expansion

We are expanding our traditional portfolio of flavours and fragrances, naturals and delivery systems into nutrition, food ingredients and beauty. This broader offering helps our customers better respond to consumer demand for products that support health and wellbeing, positive ageing and changing lifestyles while meeting their expectations around ethical and responsible business issues.

Geographic presence

Givaudan's sites worldwide span across multiple regions, with operations in Asia Pacific, Europe, Africa and Middle East, Latin America, and North America, enabling us to serve customers globally while maintaining proximity to local markets.

Interests and views of stakeholders

Stakeholder engagement approach

Our commitment to creating value for people, communities, and the planet is unwavering. We work in partnership with our customers, through creating inspiring products for happier, healthier lives and having a positive impact on nature, people and communities.

Customer collaboration and co-creation

• We launched Givaudan's Health & Nutrition Hub, a dedicated customer website that allows our customers to discover the science, benefits, and sourcing stories behind our natural, botanical ingredients and get inspired to co-create innovative wellness experiences that consumers will love.
• We have experienced particularly strong volume growth with local and regional customers, especially in Asia and the SAMEA region. At the same time, we have also seen good momentum in sales with our global and key international clients.

Community engagement

626,489 People benefited from community initiatives (2023: 440,660)

Innovation partnerships

We are expanding our network of external innovation partners, including industry leaders, academia, start-ups, and technology providers. Moving forward, our commitment to innovation will remain central to our growth strategy, helping us navigate challenges and seize new opportunities.

Supply chain partnerships

Through our Sourcing4Good programme, agronomy initiatives, and the Givaudan Foundation, we progressed towards our two community goals of sourcing responsibly and improving lives in communities where we source and operate.

Material impacts, risks and opportunities and their interaction with strategy and business model

Double materiality assessment

In accordance with our purpose and the evolving external environment, we have taken further positive steps within this strategic planning period by conducting a double materiality assessment in both 2023 and 2024. By strengthening the integration of ESG factors within our business strategy, we have enhanced our reputation among stakeholders who prioritise sustainability.

Climate-related impacts and opportunities

We have validated new ambitious targets with the Science Based Targets initiative (SBTi) to reach net-zero GHG across our value chain by 2045. However, scope 3 emissions, primarily from purchased goods and transportation, have increased by 6%, underscoring the challenge of decoupling volume growth from emissions. Addressing this is our top priority as we work to achieve long-term reductions across our value chain.

Growth opportunities and market positioning

Our significant progress highlights our dedication to responsible growth and ESG principles. We have established ambitious financial and non-financial targets that demonstrate how we are growing our business in a sustainable way.

Risk management integration

Our 2025 strategy is informed by global megatrends such as the growing consumer base and evolving health and wellbeing priorities, as well as by the transformational and wide-ranging opportunities that technology and innovation can offer.

Material topics identification

This structured approach allows us to navigate the complexities of the market while ensuring that we remain responsive to the needs of our stakeholders.

Description of the processes to identify and assess material impacts, risks and opportunities

Double materiality assessment process

In accordance with our purpose and the evolving external environment, we have taken further positive steps within this strategic planning period by conducting a double materiality assessment in both 2023 and 2024. By strengthening the integration of ESG factors within our business strategy, we have enhanced our reputation among stakeholders who prioritise sustainability.

Stakeholder engagement in materiality assessment

Our materiality assessment process involves stakeholder engagement to understand the interests and views of various stakeholder groups, including customers, communities, employees, and investors.

External environment assessment

Our strategy is informed by global megatrends such as the growing consumer base and evolving health and wellbeing priorities, as well as by the transformational and wide-ranging opportunities that technology and innovation can offer.

Continuous assessment process

This structured approach allows us to navigate the complexities of the market while ensuring that we remain responsive to the needs of our stakeholders and can identify material impacts, risks and opportunities on an ongoing basis.

Transition plan for climate change mitigation

Scope of the plan

The transition plan covers:

• Entities and geographies: Global operations across all Givaudan production sites and value chain
• Value chain segments:
  • Scope 1+2: Own operations (direct emissions from fuel combustion, purchased energy)
  • Scope 3: Full value chain including upstream activities (raw materials, agriculture) representing 94% of emissions, and downstream activities representing 3%

Target year(s) for net zero / carbon neutral

Long-term targets (validated by SBTi):

• Net-zero GHG emissions across entire value chain (scope 1+2+3) by 2045
• Climate positive (removing more GHG than emitted) before 2050

Interim targets:

• Scope 1+2: Climate positive before 2040

Scope 1, 2, 3 reduction milestones with baseline years

Near-term targets (by 2030):

• Absolute scope 1+2 GHG emissions: -70% (baseline: 2015)
• Absolute scope 3 Energy/Industrial GHG emissions: -25% (baseline: 2020)
• Absolute scope 3 FLAG (Forest, Land and Agriculture) GHG emissions: -30.3% (baseline: 2020)
• No deforestation across primary deforestation-linked commodities (target date: 31 December 2025)

Long-term targets (by 2045):

• Absolute scope 1+2 GHG emissions: -90% (baseline: 2015)
• Absolute scope 3 Energy/Industrial GHG emissions: -90% (baseline: 2020)
• Absolute scope 3 FLAG GHG emissions: -72% (baseline: 2020)

Supporting targets:

• 100% renewable electricity by 2025 (RE100 commitment)

2024 progress:

• Scope 1+2 absolute emissions reduced by -48% vs 2015 baseline (132,206 tonnes reduction)
• Scope 1+2 emissions intensity decreased by 13% in 2024 vs 2023
• Renewable electricity: 100% achieved
• Scope 3 emissions: +6% vs baseline (reflecting volume growth challenges)

Alignment with 1.5°C / SBTi validation status

• SBTi validation: New 2045 net-zero targets validated by Science Based Targets initiative
• Temperature alignment: Scope 1+2 target approved by SBTi as aligned with 1.5°C scenario
• UN pledge: Signed UN Business Ambition for 1.5°C pledge
• Scenario analysis: Transition risk assessment based on scenario limiting climate change to 1.5°C

Key levers / decarbonization pillars

Operations (Scope 1+2):

1. Renewable energy

   • Achieved 100% renewable electricity across global operations
   • Committed to RE100 since 2015
   • On-site renewable electricity generation
   • Exploring biogas certificates for remaining gaps

2. Energy efficiency

   • ULTIMO utilities metering platform installed at 12 production sites (5 added in 2024)
   • Energy site assessments and best practices programme
   • Process improvements (e.g., Florhydral™ manufacturing: removed distillation step, saving 280 tonnes scope 1 GHG emissions)
   • Waste heat recovery at key manufacturing sites

3. Digitalisation

   • Real-time monitoring of utility consumption
   • Quantitative data to focus efficiency improvements

Supply chain (Scope 3):

1. Supplier engagement

   • CDP Supply Chain programme to collect supplier emissions data
   • Supplier categorisation framework (Leader, Intermediate, Beginner, No Data) based on emissions disclosure, reduction targets, and renewable energy use
   • Supplier engagement toolkit with clear call-to-action
   • Collaborations on bio-sourced raw materials, renewable energy, and by-product valorisation (upcycling)

2. Sustainable sourcing

   • Sourcing4Good programme for responsible sourcing
   • Agronomy initiatives
   • Focus on raw materials from climate-sensitive regions

3. Product innovation

   • PrimeLock+™: natural, vegan solution for plant-based meat substitutes
   • Plant Attitude platform for plant-based food co-creation
   • Biotechnology innovations (e.g., Akigalawood® produced through environmentally friendly biotechnology)
   • Low-carbon product development
   • Upcycling and circularity in product design

4. Low-emission products and services

   • Supporting shift to plant-based diets (FAO estimates low-meat diet can reduce diet-related GHGs by nearly 50%)
   • Natural fragrances and sustainable flavour ingredients

5. Packaging and logistics optimisation

   • Optimising transport of goods
   • Business travel and employee commuting improvements

CapEx / investment commitments

Financial mechanisms:

1. Internal Carbon Price (ICP)

   • Set at 90 CHF/metric tonne (based on UN Global Compact recommendation)
   • Integrated into CAPEX and Continuous Improvement approval processes
   • Used to stress-test investments and prioritise low-carbon projects
   • Payback calculations include ICP to anticipate GHG emission costs

2. Dedicated budget

   • Dedicated budget for energy efficiency and decarbonisation initiatives
   • Extra capital allocated for greenfield facilities with higher energy-saving design standards

3. Sustainability-Linked Financing Framework

   • Introduced in 2022
   • Aligns financing strategy with sustainability performance
   • Provides flexibility for achieving 2025 strategy

4. Executive compensation linkage

   • Performance Share Plan (PSP) introduced 1 January 2021
   • Net GHG emissions reduction (scope 1+2+3) included as calculation criterion
   • Long-term executive remuneration linked to non-financial targets including GHG reduction

Locked-in emissions and stranded asset analysis

Physical risk assessment:

• Climate scenario analysis conducted using Munich Re's Location Risk Intelligence
• Assessment covers acute physical risks (hurricanes, floods, wildfires, heatwaves) and chronic physical risks (temperature increases, sea level rise, precipitation changes)
• Time horizons: near-term (1-3 years), medium-term (2030), long-term (2050)
• Scenarios: IPCC Shared Socioeconomic Pathways (SSPs)
• 10% of production sites present high physical risk
• Adaptation measures include enhanced water management, supplier diversification, alternative transportation routes

Transition risk assessment:

• 36 specific transition risks identified
• Top risks: Policy and legal (carbon pricing, regulatory costs), Market (investor/consumer demand shifts), Technology (integration lag)
• Mitigation strategies: reduce fossil fuel infrastructure, speed transition to renewables, integrate cutting-edge technologies
• 45 transition opportunities identified including resilience, energy independence, sustainable product demand

Stranded assets: Not explicitly disclosed in quantitative terms.

Use of carbon credits / removals

Mitigation hierarchy:

• Primary focus on reduction of emissions across scopes 1+2+3
• Remaining and unavoidable emissions to be balanced through neutralisation or compensation
• Detailed net-zero transition plan to be published in dedicated report in 2025

Carbon sequestration:

• Draft GHG Protocol Land Sector and Removal methodology used for FLAG emissions accounting
• Will adopt definitive version once published

Credits strategy:

• Not explicitly quantified
• Focus remains on absolute reduction before considering offsets
• Climate positive ambition implies removal of more GHG than emitted

Additional transition plan elements

Governance:

• Board of Directors: oversees climate strategy, receives two annual sustainability updates and annual ERM reports
• Executive Committee: implements day-to-day management, approves programmes with Company-wide impact
• Global Head of Procurement and Sustainability: overall responsibility at EC level
• Sustainability Leadership Team: develops climate transition plan, conducts scenario analysis, manages value chain engagement

Partnerships and advocacy:

• Together for Sustainability (TfS): member since 2021, participating in scope 3 workstream and PCF guideline development
• SiGREEN PCF Exchange platform adoption
• IOFI pre-competitive scope 3 project (identifying GHG emission factors for key ingredients)
• RE100 member
• Corporate Leaders Group (CLG) Europe
• Renewable Carbon Initiative (RCI)
• UN Global Compact

Data and methodology:

• TfS PCF guideline for Product Carbon Footprint calculations
• Large-scale PCF collection project via SiGREEN (~160 vendors contacted, >100 colleagues trained in 2024)
• Digitalisation of sustainability data
• Continuous methodology improvements aligned with evolving standards

Transition plan refinement:

• Net-zero transition plan to be completed and published in dedicated report in 2025
• Will report against new 2045 net-zero targets validated by SBTi
• Plan will provide comprehensive roadmap for emissions across scopes 1+2+3

Glidepath charts:

• Scope 1+2 emissions reduction path shown with trajectory from 2015 baseline to 2030 target (-70%) accounting for organic growth
• Scope 3 reduction pathways to be detailed in 2025 transition plan report

Policies related to climate change mitigation and adaptation

Givaudan does not explicitly disclose named policies specifically dedicated to climate change mitigation and adaptation in the provided excerpts. However, the company's approach to climate change is embedded within broader corporate frameworks and programmes.

Climate-related governance and programmes

The excerpts reference several mitigation measures and programmes related to climate change:

• Climate transition plan: The company is refining its net-zero transition plan to report against new 2045 net-zero targets validated by the Science Based Targets initiative (SBTi). This plan will be completed and published in a dedicated report in 2025.

• Governance and oversight: Climate-related risks and opportunities are identified as part of the Company-wide Enterprise Risk Management (ERM) risk assessment process and double materiality assessment, which are supervised by the Executive Committee (EC). The assessment is conducted bi-annually with representatives from both business activities and key corporate functions.

• Sustainability Leadership Team (SLT): This team consists of internal experts on ESG topics and is responsible for developing a climate transition plan, conducting climate-related scenario analysis, and managing value chain engagement on climate-related issues. The SLT meets regularly to review progress and agree key recommendations for the EC.

Climate targets and scope

Givaudan has established ambitious climate targets validated by SBTi:

• Scope 1+2: -70% before 2030, climate positive before 2040
• Scope 3: Including a FLAG (Forest, Land and Agriculture) target

Approach to climate risk management

The company conducts climate risk assessments in accordance with TCFD requirements to identify vulnerable areas, evaluate potential impacts, and develop targeted strategies for mitigation and adaptation. The assessment uses IPCC scenarios and Shared Socioeconomic Pathways (SSPs) to assess climate hazards at near-term (1-3 years), medium-term (2030), and long-term (2050) time horizons.

Value chain engagement

Givaudan expects all suppliers to support climate efforts by providing data and information about their carbon footprint and to work to reduce their overall impact over time. The company actively participates in Together for Sustainability (TfS) initiatives and has adopted the TfS PCF Exchange solution (SiGREEN).

Performance recognition

CDP has recognized Givaudan for global leadership in climate action with an A rating.

Actions and resources in relation to climate change policies

Overview of Climate Action Strategy

Givaudan has committed to becoming climate positive (removing more GHG from the atmosphere than emitted) before 2050. The company addresses climate change through a comprehensive approach covering mitigation, adaptation, and creation of opportunities across scopes 1, 2, and 3.

Updated 2045 Net-Zero Targets (validated by SBTi):

• Near term (by 2030): Reduce absolute scope 1+2 by 70% (2015 baseline); scope 3 Energy/Industrial by 25% (2020 baseline); scope 3 FLAG by 30.3% (2020 baseline)
• Long term (by 2045): Reduce absolute scope 1+2 by 90%; scope 3 Energy/Industrial by 90%; scope 3 FLAG by 72%
• Commitment to no deforestation across primary deforestation-linked commodities by 31 December 2025

Previous targets reported for 2024:

• Scope 1+2: -70% before 2030, climate positive before 2040, 100% renewable electricity by 2025
• Scope 3: -20% before 2030, -50% before 2040
• Climate positive business (all scopes) before 2050

2024 Achievement: -48% scope 1+2 emissions (vs. 2015 baseline); +6% scope 3; 100% renewable electricity achieved

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Scope 1+2 Actions (Operations)

1. Energy Efficiency Programmes

Scope: Own operations (manufacturing sites globally)

Time horizon: Ongoing through 2030

Description:

• Energy site assessments to identify improvement opportunities
• Improved production processes (e.g., Florhydral™ manufacturing: removed distillation step, saving 280 tonnes scope 1 GHG emissions)
• Recovery of waste heat at key manufacturing sites

Resources allocated:

• Dedicated budget for energy efficiency and decarbonisation initiatives
• Extra capital allocated to greenfield facilities with higher energy-saving design standards
• Integration of Internal Carbon Price (ICP) mechanism set at 90 CHF/metric tonne into CAPEX and continuous improvement approval processes

Digital enabler:

• ULTIMO platform installed in 12 production sites (5 added in 2024) for real-time utilities metering and monitoring

Outcomes/KPIs:

• Scope 1+2 GHG emissions intensity decreased 13% in 2024 vs 2023
• Absolute scope 1+2 emissions decreased by 132,206 tonnes since 2015 (-48%)

Links to policy/target: Supports 70% reduction target by 2030; climate positive by 2050

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2. Renewable Energy Transition

Scope: Own operations (global manufacturing sites and offices)

Time horizon: Target achievement 2025 (already achieved end 2024)

Description:

• Conversion to 100% renewable electricity supply (RE100 commitment)
• Solar park development (on-site and off-site)
• Purchase of renewable electricity through Energy Attribute Certificates
• Exploration of biogas certificates for remaining gas consumption

Key projects:

• Pune, India solar park (April 2024): 4.0 MWp capacity off-site solar park, equivalent to ~7,330 solar panels, meeting energy needs of ~2,400 households. Pune Taste & Wellbeing site achieved 100% renewable electricity by end 2024
• On-site renewable energy generation and third-party owned installations

Resources allocated:

• Financial investment in solar parks and renewable energy infrastructure (specific amounts not disclosed)
• Partnerships with renewable energy providers

Outcomes/KPIs:

• 100% renewable electricity achieved by end 2024
• 1,245,023 GJ electricity purchased in 2024, 100% covered by Energy Attribute Certificates

Links to policy/target: Achieves RE100 commitment; supports scope 1+2 reduction target

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Scope 3 Actions (Value Chain)

3. Supplier Engagement Programme (CDP Supply Chain)

Scope: Upstream value chain (suppliers)

Time horizon: Ongoing, with annual CDP campaigns

Description:

• Engagement with suppliers via CDP Supply Chain Program
• Supplier classification into four maturity levels: Leader, Intermediate, Beginner, No Data
• Development of supplier engagement toolkit covering climate action, water, responsible sourcing, plastics
• Collaboration with advanced suppliers on bio-sourced raw materials, renewable energy, and upcycling

Resources allocated:

• Dedicated Sustainability and Procurement teams for supplier engagement
• Supplier relationship managers (SRM) and category managers (CM) using CDP scorecards

Outcomes/KPIs:

• 165+ suppliers actively engaged via CDP Supply Chain Programme in 2024 (up from prior years)
• 129 suppliers responded in 2023 (73% response rate)

Links to policy/target: Supports scope 3 reduction target of 20% by 2030 (previous target); 25% Energy/Industrial and 30.3% FLAG by 2030 (new target)

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4. Sustainable Procurement and Sourcing4Good Programme

Scope: Upstream value chain (raw materials and Indirect Materials & Services)

Time horizon: Target 100% by 2030

Description:

• Sourcing4Good programme with four engagement levels: Active, Engaged, Committed, Advanced
• Risk-based selection process for systematic coverage of all categories
• EcoVadis assessments for high-risk suppliers in logistics and packaging
• Focus on 165 prioritised natural raw material families
• Product Carbon Footprint (PCF) data collection from suppliers via SiGREEN platform

Resources allocated:

• Procurement function aligned with sustainability goals
• Investment in digital tools (SiGREEN) for PCF collection

Outcomes/KPIs:

• 53% of total procurement spend portfolio (naturals, synthetics, IM&S) sourced responsibly by end 2024
• Target: 100% by 2030

Links to policy/target: Supports scope 3 reduction; responsible sourcing commitment

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5. Low-Carbon Creations and Product Innovation

Scope: Downstream value chain (products and customer solutions)

Time horizon: Ongoing R&D activities

Description:

• PrimeLock+™: Natural, vegan-friendly solution for plant-based meat substitutes (winner of 2022 Gulfood innovation award and International V-label Award)
• Plant Attitude platform: Ecosystem for co-creation of plant-based food experiences supporting shift to sustainable diets (FAO estimates low-meat diets can reduce diet-related GHGs by nearly 50%)
• Biotechnology innovations: Development of sustainable ingredients through dedicated Biotechnology Centres of Expertise
  • Akigalawood®: Novel patchouli-like material produced via biotechnology with environmentally friendly process
  • Maximises ingredient performance while minimising land, energy, and water use

Resources allocated:

• Substantial R&D investment (specific amounts not disclosed)
• Dedicated Biotechnology Centres of Expertise

Outcomes/KPIs:

• Multiple award-winning sustainable products launched
• Enables customers to reduce carbon footprint of their products

Links to policy/target: Supports scope 3 reduction; creates market opportunities for sustainable solutions

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6. Logistics and Transport Optimisation

Scope: Value chain (transport and logistics)

Time horizon: Ongoing

Description:

• Optimising packaging, logistics and transport of goods
• Optimising business travel and employee commuting
• Engagement of logistics and packaging suppliers through Sourcing4Good programme

Resources allocated:

• Integration into supplier engagement and EcoVadis assessment processes

Links to policy/target: Contributes to scope 3 reduction target

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Neutralisation and Compensation Actions

7. Natural Climate Solutions (NCS)

Scope: Beyond value chain (nature-based solutions)

Time horizon: Ongoing; part of 2050 climate positive pathway

Description:

• Investment in natural climate solutions for carbon removal
• Part of the pathway to climate positive before 2050

Resources allocated: Not quantified in excerpts

Links to policy/target: Supports climate positive ambition by 2050

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8. Carbon Capture, Storage and Removal (CCSR) Technology

Scope: Beyond value chain (technological carbon removal)

Time horizon: Long-term (post-2030)

Description:

• Exploration of CCSR technologies for neutralisation of residual emissions

Resources allocated: Not quantified in excerpts

Links to policy/target: Supports net-zero and climate positive ambitions

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Enabling Actions and Resources

9. Scope 3 Model Enhancement and Data Management

Scope: Value chain emissions accounting

Time horizon: 2024 onwards

Description:

• Separate tracking of FLAG (Forest, Land and Agriculture) and non-FLAG emissions (first year 2024)
• Improved emission factors for key raw materials
• Digitalisation of sustainability data management
• Product Carbon Footprint (PCF) assessments
• Participation in IOFI scope 3 project for standardised emission factors

Resources allocated:

• Investment in digital platforms (SiGREEN, utilities metering platform ULTIMO)
• Cross-functional teams for training on carbon management and GHG modelling

Outcomes/KPIs:

• Enhanced visibility of GHG contributors; better targeting of reduction levers

Links to policy/target: Enables accurate tracking and management toward scope 3 targets

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10. Internal Carbon Price (ICP) Mechanism

Scope: Own operations (investment decision-making)

Time horizon: Implemented 2024, ongoing

Description:

• Internal carbon price set at 90 CHF/metric tonne (based on UN Global Compact recommendation)
• Integrated into CAPEX and continuous improvement approval processes
• Projects evaluated with and without ICP to stress importance of reducing GHG emissions upfront

Resources allocated:

• 90 CHF/tonne applied to scope 1+2 emissions reduction projects
• Additional capital allocated to low-carbon investments

Outcomes/KPIs:

• Guides decision-making toward climate-positive investments
• Prioritises most efficient financial and decarbonising projects

Links to policy/target: Supports achievement of scope 1+2 reduction targets; prepares for carbon regulations

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11. Sustainability-Linked Financing Framework

Scope: Financial strategy

Time horizon: Introduced 2022, ongoing

Description:

• Framework for issuing sustainability-linked financing instruments
• Renewal of multi-year Group Committed Credit Facility aligned with sustainability KPIs
• Aligns financing strategy with sustainability performance

Resources allocated:

• Access to sustainability-linked financing (specific amounts not disclosed)

Outcomes/KPIs:

• Attracts ESG-focused investor community
• Provides flexibility to achieve 2025 and beyond strategy

Links to policy/target: Supports overall sustainability and climate targets

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12. Performance Share Plan (PSP) with Climate KPIs

Scope: Executive and key talent incentives

Time horizon: Introduced 1 January 2021, ongoing

Description:

• Executive compensation linked to non-financial criteria including net GHG emissions reduction (scope 1+2+3) under the 'Nature' pillar
• Rewards executives who significantly influence long-term success in climate action

Resources allocated:

• Executive compensation package tied to climate performance

Outcomes/KPIs:

• Aligns management incentives with climate and social KPIs

Links to policy/target: Drives accountability for achieving GHG reduction targets

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13. Governance and Partnerships

Scope: Company-wide governance

Time horizon: Ongoing

Description:

• Board of Directors oversight: two annual sustainability updates, annual ERM reports, regular business updates including climate impacts
• Audit Committee: biannual ERM reports, quarterly ethics & compliance reports
• Executive Committee (EC) responsible for implementing strategy, approving GHG and capital expenditures
• Cross-functional teams delivering climate-related training

Memberships and initiatives:

• UN Pledge Business Ambition for 1.5°C (SBTi)
• RE100 (100% renewable electricity)
• Corporate Leaders Group (CLG) Europe
• WBCSD (including SOS 1.5 Degrees project)
• IFRA, IOFI membership

Resources allocated:

• Dedicated governance structures and sustainability function
• Participation in industry collaborations and standard-setting initiatives

Outcomes/KPIs:

• CDP A rating for climate action and water stewardship; A- for forests
• Named 'Enterprising Leader' at 2023 RE100 Awards
• SBTi validation of net-zero targets

Links to policy/target: Ensures strategic oversight and accountability for all climate targets

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14. Net-Zero Transition Plan (2045)

Scope: All scopes (1, 2, 3)

Time horizon: To be published 2025; covers pathway to 2045

Description:

• Comprehensive roadmap addressing emissions across all scopes
• Refines pathway to new SBTi-validated 2045 net-zero targets
• Detailed transition plan to be published in dedicated 2025 report

Resources allocated: To be detailed in 2025 dedicated report

Links to policy/target: Central roadmap for achieving net-zero by 2045 and climate positive by 2050

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Financial Performance Context

2024 Financial Results:

• Free cash flow: CHF 1,158 million (15.6% of sales)
• Like-for-like sales growth: 12.3%

Investment approach:

• Budget allocated for energy efficiency and decarbonisation (amounts not quantified)
• Sustainability-linked financing framework in place
• ICP of 90 CHF/tonne applied to scope 1+2 projects
• Extra capital for greenfield facilities with higher sustainability standards

Targets related to climate change mitigation and adaptation

Near-term targets (validated by SBTi)

Long-term targets (net-zero, validated by SBTi)

Previously stated targets (being replaced)

Notes

• New 2045 net-zero targets validated by SBTi in 2024; reporting against these will begin in 2025 Integrated Report
• 2024 report shows progress against previous targets during transition period
• Scope 3 baseline (2015): 3,685,284 tonnes CO2e (FLAG emissions now tracked separately from 2024)
• Total scope 1+2+3 emissions 2024: 4,049,127 tonnes CO2e (+2% vs 2015 baseline of 3,957,897 tonnes CO2e)
• Net-zero transition plan to be published in dedicated report in 2025

Energy consumption and mix

Total energy consumption

Total energy consumption (2024): 3,878,578 GJ (1,077.4 GWh)

Energy intensity (2024): 5.43 GJ per tonne of product

Disaggregated energy consumption by source

Givaudan reports energy consumption disaggregated by direct (primary sources) and indirect (purchased electricity and steam) energy. The table below presents energy consumption for 2024 and 2023 (restated):

Renewable electricity

In 2024, Givaudan achieved 100% renewable electricity for purchased electricity. All electricity purchased in 2024 (1,245,023 GJ) was covered by Energy Attribute Certificates (EACs).

Methodology and scope

The scope for assured environmental performance indicators (operations and supply chain) covers all production sites at all Givaudan entities and acquisitions (except for b.kolor) as well as restatements for past years.

Default calorific values are applied where information is not provided by energy suppliers: natural gas (0.0336 GJ/m³), light fuel (39.5904 GJ/m³), heavy fuel (40.1759 GJ/m³), LPG (23.8018 GJ/m³), town gas (0.0186 GJ/m³), waste (site-specific NCV), biofuel (33.1080 GJ/m³), biogas (0.0342 GJ/m³), biomass (0.0116 GJ/kg), coal (26.7000 GJ/tonne), geothermal (0.0036 GJ/kWh), and steam sold (3.0750 GJ/tonne deducted).

Natural gas consumption includes natural gas used for self-produced electricity. Energy from electricity self-produced from non-renewable sources is excluded from Total Direct Energy calculation as it is included in the Natural gas line.

Energy intensity

Energy intensity decreased by 3% in 2024 compared to 2023.

Gross Scopes 1, 2, 3 and Total GHG emissions

Total GHG Emissions (Scope 1+2+3)

The Company reports gross GHG emissions across all three scopes. The scope for assured environmental performance indicators (operations and supply chain) covers all production sites at all Givaudan entities and acquisitions (except for B. Kolor) as well as for restatements for past years.

Scope 1: Direct GHG emissions

Scope 1 emissions are direct emissions from sources the Company owns or controls, including fuel combustion in factories.

Scope 1 emissions represent 3% of total value chain emissions.

Sub-breakdown of Scope 1 emissions by source is not disclosed in detail. The report notes that direct energy consumption includes natural gas, light fuel, heavy fuel, liquid petroleum gas, town gas, waste used as energy source, biofuel, biogas, biomass, coal, geothermal energy, and deducting steam sold.

Scope 2: Indirect GHG emissions from purchased energy

Scope 2 emissions represent <1% of total value chain emissions.

Scope 2 methodology note: The report does not explicitly separate location-based and market-based figures. The reported Scope 2 figures appear to reflect market-based accounting given the Company's 100% renewable electricity purchasing. The reduction in Scope 2 emissions from 2015 to 2024 of 111,125 tonnes CO2e is attributed to renewable electricity procurement.

Scope 3: Indirect GHG emissions from value chain

Scope 3 emissions are all indirect emissions that occur in the value chain. Upstream activities represent 94% of value chain emissions; downstream activities represent 3%.

Scope 3 methodology note: One-off waste is excluded from Scope 3.5 calculation. This indicator measures the total quantity of waste that is not directly related to daily operations, categorised as one-off waste (e.g., waste materials from demolition or remediation activities or waste following unusual incidents). The Company used the draft version of the GHG Protocol Land Sector and Removal to account for FLAG emissions.

GHG emissions intensity

Intensity metric note: The Company reports GHG emissions intensity as kg CO2e per tonne of production. The 2024 figure of 185 kg CO2e/tonne represents a decrease from 197 in 2023.

Biogenic CO2 emissions

Biogenic emissions are reported separately from gross Scope 1 and Scope 2:

Biogenic emissions note: Scope 1 biogenic emissions reflect CO2 from usage of biogenic fuels (biomass/biofuels). Scope 1 also includes emissions of CH4 and N2O from biogenic fuels, which are counted in the main Scope 1 figure.

Regulated emissions (EU ETS)

No specific disclosure of EU ETS or other regulated emissions schemes was provided in the excerpts.

SBTi-validated 2045 net-zero targets

The Company has set new targets validated by SBTi to reach net-zero GHG emissions across the value chain by 2045:

Near term (by 2030):

• Absolute scope 1+2 GHG emissions reduction of 70% (2015 baseline)
• Absolute scope 3 Energy/Industrial GHG emissions reduction of 25% (2020 baseline)
• Absolute scope 3 FLAG GHG emissions reduction of 30.3% (2020 baseline)
• Commitment to no deforestation across primary deforestation-linked commodities by 31 December 2025

Long term (by 2045):

• Absolute scope 1+2 GHG emissions reduction of 90% (2015 baseline)
• Absolute scope 3 Energy/Industrial GHG emissions reduction of 90% (2020 baseline)
• Absolute scope 3 FLAG GHG emissions reduction of 72% (2020 baseline)

The Company notes that the 2024 Integrated Report reports progress against previous targets, with reporting against the newly validated 2045 targets to begin in the 2025 Integrated Report.

Anticipated financial effects from material physical and transition risks and potential climate-related opportunities

Time horizons

Each scenario is assessed at:

• Near-term: 1–3 years
• Medium-term: 2030
• Long-term: 2050

Physical risks - Quantified financial impacts

The financial impacts are represented as Climate Expected Loss per year for physical damage and business interruption loss of revenue. The analysis includes the majority of Givaudan locations with physical assets (representing 99% of portfolio). The output is considered as a gross risk view and did not include information on local protection/adaptations measures.

TABLE 1: PHYSICAL RISKS THAT CAN IMPOSE HIGHEST POTENTIAL IMPACT ON GIVAUDAN'S OWN OPERATIONS

Scenarios:

• IPCC SSP1 (RCP2.6) representing 'Sustainability' theme (global warming below 2°C)
• IPCC SSP2 (RCP4.5) representing 'Middle of the road' theme (global warming 2–3 °C)
• IPCC SSP5 (RCP8.5) representing 'Fossil-fuelled Development' theme (global warming 3.3–5.7 °C)

Time horizons: Near-term (1–3 years), Mid-term (2030), Long-term (2050)

Portfolio coverage: The majority of Givaudan locations with physical assets were included in the analysis (representing 99% of portfolio). The results presented below of physical climate hazards for the selected assets, entitles the worst case scenario of RCP8.5.

Data sources: IPCC, Munich Re LRI

Transition risks

TABLE 2: TOP TRANSITION RISKS THAT CAN POTENTIALLY IMPACT ON GIVAUDAN

Scenarios: Climate positive before 2050 (limit global warming to 1.5°C)

Time horizons: Near-term (<3 years), Mid-term (3–5 years), Long-term (>5 years)

Portfolio coverage: Own operations activities

Data Sources: IEA, NGFS

Transition opportunities

TABLE 3: TOP TRANSITION OPPORTUNITIES FOR GIVAUDAN

Methodology

Physical risks:

• Identification of relevant scenarios based on the latest scientific research, including using advanced natural hazard and climate modelling tools as well as regulatory standard scenarios from the IPCC and based on the latest edition of Shared Socioeconomic Pathways
• Specialised tools, such as Munich Re's Location Risk Intelligence, provide geospatial physical risk data analysis
• Collection of comprehensive data on asset values, geolocations of individual sites, and other relevant factors such as revenues from internal systems
• Major production sites across all continents and business units are included in the analysis
• Climate scenario analysis conducted using outputs from various tools along with internal methodologies

Transition risks: To conduct a quantitative assessment of transition risks and opportunities, the company considered three approaches including (i) selecting a specific site to evaluate the potential risks and opportunities; (ii) using energy consumption from sites where data was available; and (iii) selecting a specific site to evaluate the potential risks and opportunities. Approach (ii) was chosen.

Adaptation measures implemented

We have already implemented an emergency response plan for the identified material hazards in the short and medium-term. Additionally, we are exploring ways to enhance water management, diversify the supplier base, and identify alternative transportation routes to mitigate potential risks caused by extreme weather events in the long term.

Targets related to pollution

The excerpts provided focus primarily on climate-related targets (ESRS E1) rather than pollution-specific targets (ESRS E2). However, the following pollution-related targets are disclosed:

Water Management Targets

Waste Management Targets

Pollution of air, water and soil

Air emissions

Water discharge and COD load

CFC inventory and management

Substances of concern and substances of very high concern

Givaudan monitors and manages substances of concern (SoC) and substances of very high concern (SVHC) as defined by European Sustainability Reporting Standards (ESRS).

Monitoring and Management Approach

The Chemicals Management & Compliance EHS Centre of Excellence is dedicated to ensuring regulatory compliance and safe management of chemicals worldwide. Key activities include:

• Keeping EHS corporate systems updated with the latest version of applicable EHS regulations
• Performing periodic review of Safety Data Sheets (SDS) and Labels
• Incorporating industry-best EHS practices and additional safety and environmental information critical to responsible management of chemicals throughout their life cycles
• Particular focus on Substances of Concern (SoC) and Substances of Very High Concern (SVHC)

Classification and Regulatory Compliance

The continuous review of classification and labelling of ingredients and products in relation to EHS regulatory requirements and industry sector standards is a principal activity. One highly relevant standard is the IFRA-IOFI labelling manual, a coordinated effort of the fragrance and flavour industry consisting of an annual review of GHS classification and labelling information for ingredients used in the sector.

100% of products placed on the market are classified as per GHS criteria.

Authorities are increasingly focused on substances of concern because of an interest in reducing the environmental and human health impacts of some chemicals. At Givaudan, the environmental and health safety data of all ingredients is subject to rigorous evaluation in terms of use in the products and markets in which the company is active. Givaudan's toxicological experts continue to review ingredient data and if any ingredients demonstrate a legitimate safety concern they are removed from products.

REACH and Regulatory Engagement

Givaudan actively engages with regulatory developments including REACH (registration, evaluation, authorisation and restriction of chemicals). In 2024, the Regulatory Affairs and Product Safety (RAPS) teams played an industry-leading role to work with European Commission Regulators to find ways to prevent unintended impacts of proposed new regulations on use of fragrance ingredients that have been used for decades with a long history of safe use.

Quantitative disclosure: Not disclosed. No tonnage data provided for total SoC or SVHC generated, used, or procured.

Policies related to water and marine resources

Givaudan has disclosed a specific Water policy as part of its water stewardship strategy under ESRS E3-1.

Water policy

Key content and principles:

• Defines the overall strategy for monitoring and reducing water consumption
• Reflects commitment to water stewardship with the aim to drive a positive impact in watersheds where the company sources and operates
• Commits to using water in a socially equitable, environmentally sustainable, and economically beneficial way
• Focuses on reducing pressure on water resources through efficient solutions that diminish water use over product life cycles
• Commits to continuously improving effluent management and discharge
• Promotes best agricultural practices for specific ingredients to mitigate water risk and improve water quality management
• Addresses WASH (Water, Sanitation and Hygiene) principles to guarantee access to water for all employees and vulnerable communities in areas where the company sources and operates

Scope:

• Applies to own operations (all manufacturing sites and production sites)
• Extends to supply chain and communities
• Covers priority natural supply chains as defined by the Responsible Sourcing programme (Sourcing4Good)

Governance and oversight:

• The policy is guided by the company's purpose and sustainability ambitions
• Implementation is overseen through the EHS (Environment, Health & Safety) policy framework
• Site-level implementation tracked through KPIs for water quantity and quality

Public availability:

• Referenced as publicly available ("Water policy" mentioned in CDP water security disclosures)
• Disclosed in the 2024 Integrated Report

Links to international standards:

• Aligned with UN Sustainable Development Goal 6 'Clean water and sanitation'
• Aligned with UN Sustainable Development Goal 12 'Responsible consumption and production'
• Implements WASH principles (Water, Sanitation and Hygiene)
• Signatory to Responsible Care® Global Charter (comprehensive EHS management approach)

Monitoring and implementation:

• Targets set for 2030: 25% water withdrawal rate reduction on sites facing water stress (baseline 2020)
• Continuous improvement on water efficiency on all other sites
• 100% of wastewater discharge to meet or exceed regulatory and industry standards by 2030
• Annual contextual water risk assessment using the Aqueduct Water Risk Atlas
• Third-party water assessments at sites in water-stressed areas
• Tracking of site water quantity and quality KPIs for both withdrawal and effluents
• Periodic corporate risk assessments including water-related risks
• Implementation of wastewater standards in addition to regulatory requirements
• Engagement with suppliers through CDP Supply Chain program and Responsible Sourcing policy
• Sedex Site assessment questionnaire covering environmental risks including water preservation

Related policies

Principles of Conduct and EHS Policy on Safety and Environmental Protection

• Recognizes the need to preserve the environment from impacts of direct operations
• Aims to safeguard adequate access to safe drinking water, sanitation, and hygiene for all employees
• Referenced as part of comprehensive water protection framework

Responsible Sourcing policy

• Guides suppliers to comply with local wastewater treatment regulations
• Urges suppliers to reduce their impact on watersheds where they operate (water scarcity, quality, and stress)
• Shared with all suppliers
• Includes specific requirements for suppliers of natural products related to ecosystem conservation and sustainable use of biodiversity

Actions and resources related to water

Water efficiency projects

Description: Water consumption reduction and effluent discharge management through water efficiency projects.

Scope: Own operations

Time horizon: Short-term

Link to risk/target: Part of mitigation measures for climate risk; addresses inability to effectively manage climate risks that could disrupt operations and supply chain.

Resources allocated: Not quantified

Expected outcomes/KPIs: Not specified

Specific site implementation: Water efficiency programmes are in place at the Sierra Norte, Seville, Spain site (located within Sierra Norte Natural Park protected area) which manufactures botanical ingredients for Fragrance & Beauty business.

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Business continuity plan for sourcing

Description: Business continuity planning related to sourcing activities to address water-related climate risks.

Scope: Supply chain/sourcing

Time horizon: Short-term

Link to risk/target: Mitigation measure for climate risk, including droughts and other climate-related events affecting sourcing.

Resources allocated: Not quantified

Expected outcomes/KPIs: Not specified

Targets related to water

The excerpts provided do not contain specific quantified water targets under ESRS E3-3. The documents mention "Water efficiency targets in water stress areas with action plans" as a corporate-level climate adaptation measure, but no specific target metrics, target values, baseline years, target years, or progress data are disclosed in the provided excerpts.

The references to water relate primarily to climate risk management strategies (drought risks, water stress, precipitation stress) rather than disclosed water-related targets with quantified objectives.

Water consumption

Total water withdrawal by source

Water consumption and efficiency

Water stress areas

Water discharge

Transition plan and consideration of biodiversity and ecosystems in strategy and business model

Integration of biodiversity into corporate strategy and business model

Givaudan's business model depends on healthy, resilient biodiversity and ecosystem services. The company acknowledges that the inspiration found in nature for creations and products provides an opportunity to value and protect ecosystems that are rich in biodiversity and frequently unique. Givaudan's activities – and those of the communities the company works with and supports – depend on healthy, resilient biodiversity and ecosystem services.

Biodiversity targets and ambitions

Givaudan has committed to contribute to the preservation and regeneration of biodiversity by 2030. The company's ambition is to contribute, through action in its own operations and in its supply chains, to preserving and restoring biodiversity and ecosystems.

Related targets include:

• 100% of materials and services will be sourced responsibly by 2030
• 100% of wastewater discharge will meet or exceed regulatory and industry standards by 2030
• Zero operational waste directed to landfill for all production sites by 2030
• 100% plastics circularity by 2030
• 100% of entire electricity supply converted to fully renewable sources by 2025 (achieved in 2024)
• Operations' carbon emissions (scope 1+2) cut by 70% before 2030 (baseline 2015)
• Supply chain emissions (scope 3) cut by 20% before 2030 (baseline 2015)

Geographic and value-chain scope

The biodiversity approach addresses key material impacts throughout the entire value chain, with a focus on:

• Own operations: 10 production sites assessed using the WWF Biodiversity Risk Filter face high physical risk due to environmental factors, including water scarcity and biodiversity sensitivity
• Upstream supply chain: Over 11,000 globally sourced raw materials across Taste & Wellbeing and Fragrance & Beauty products
• Sourcing regions: The company operates landscape projects in palm supply chains across Indonesia, Malaysia, and Ivory Coast (representing approximately 33% of total palm portfolio in 2024)

Material impacts, risks and dependencies

Using ENCORE's 'chemicals & other materials production' industry score, Givaudan identified medium materiality dependency on ecosystem services including water supply, purification, flow regulation, soil retention, flood mitigation, and waste remediation.

Upstream supply chain: Ecosystem services are highly material, especially in agriculture, forestry, and fishing sectors, which provide essential cultural, provisioning, and regulatory functions.

Greatest impacts on biodiversity are linked to:

• Risk of natural habitat conversion, degradation and fragmentation, including deforestation (high impact)
• Impacts of conventional agricultural practices on climate, soil, water and biodiversity (high impact)
• Over-exploitation of wild-harvest resources (medium risk if not adequately managed)

Use of frameworks

Givaudan's biodiversity strategy is informed and guided by:

• Convention on Biological Diversity (CBD) goals for conservation, sustainable use and fair and equitable sharing of benefits
• Kunming-Montreal Global Biodiversity Framework
• Cartagena and Nagoya Protocols
• Convention on International Trade in Endangered Species (CITES)
• BioTrade principles
• Global Goal for Nature principles (halting and reversing biodiversity loss towards nature positivity by 2030)
• Science-based target setting guidance (SBTi, SBTN)
• Taskforce on Nature-related Financial Disclosures (TNFD) framework – alignment in progress
• Corporate Sustainability Reporting Directive (CSRD) framework – alignment in progress
• Mitigation Hierarchy principles of 'avoid, reduce, restore, and regenerate'

TNFD alignment activities

In 2024, Givaudan initiated its TNFD-aligned journey. The company's double materiality assessment, aligned with CSRD, enabled identification and ranking of nature-related impacts, risks, and opportunities across the entire value chain, covering sites as well as upstream and downstream activities.

A site-specific assessment across Givaudan's production locations using the WWF Biodiversity Risk Filter identified approximately 10 sites facing high physical risk.

While in-depth quantitative analysis under TNFD is ongoing, Givaudan is committed to transparency through CDP questionnaires, double materiality assessment, and annual reporting. Going forward, the company aims to deepen scenario modelling, enhance risk management, and further assess nature-related impacts, risks, and dependencies.

Investment and implementation measures

Givaudan addresses biodiversity impacts through:

Responsible Sourcing programme (Sourcing4Good):

• Responsible Sourcing policy sets high standards for suppliers, promoting ecosystem conservation, deforestation prevention, and sustainable agriculture practices
• UEBT responsible sourcing standard used for assessing and verifying suppliers at farm level, especially for niche botanicals and wild harvest supply chains
• Farm Sustainability Assessment (FSA) by SAI Platform as standard protocol for assessing and verifying suppliers at farm level
• Over 15 key botanical supply chains assessed using UEBT standards in 2024

Palm oil traceability and certification:

• Member of Roundtable on Sustainable Palm Oil (RSPO) since 2011
• 16 production sites RSPO certified (13 Compounding sites, 3 Active Beauty sites)
• 82% of palm volume traceable to mill level (TTM) in 2024
• ~61% traceability to plantations (TTP) in 2024 (vs 54% in 2023)
• Partnership with Earthworm Foundation on palm oil and derivatives supply chains
• Participation in five landscape projects in Indonesia, Malaysia, and Ivory Coast (representing ~33% of total palm portfolio)

Regenerative agriculture programmes targeting strategic ingredients to support sourcing resilience and biodiversity regeneration

Deforestation commitments:

• Commitment to sourcing all materials and services in a way that protects people and the environment by 2030, including action to prevent deforestation and land conversion for agriculture in natural ingredients supply chains
• Member of Alliance for the Preservation of Forests (APF)

Linkage to nature-related risk assessment

Biodiversity loss represents a risk for the continuity and resilience of Givaudan's activities over time. Own operations may be affected by:

• Physical risks such as resource scarcity and climate/meteorological event-related impacts
• Regulatory and reputational risks should surrounding ecosystem services be altered or jeopardised

The company's double materiality assessment strengthened to align with CSRD methodology qualitatively assessed and ranked key impacts, risks, and opportunities for biodiversity and ecosystems according to business operations, by pressure, and by impact on biodiversity and the extent and conditions of ecosystems.

Givaudan recognises risks arising from biodiversity loss driven by:

• Land use change
• Resource overexploitation
• Climate change
• Pollution
• Invasive species

These factors present both risks and opportunities for sustainable resource management within the supply chain, addressed following Mitigation Hierarchy principles.

Actions and resources related to biodiversity

Biodiversity programmes (mitigation measure)

Scope: Own operations and value chain
Description: Listed as a key mitigation measure for environmental risks, but specific details not provided in excerpts.

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Landscape projects (palm oil supply chain)

Scope: Upstream value chain
Partnership: Earthworm Foundation
Coverage: ~33% of palm portfolio (2024)
Geographies: Indonesia, Malaysia, Ivory Coast
Activities:

• Monitoring deforestation with remote-sensing technology and ground verification
• Support for producers (small and large) on the ground
• Focus on social, environmental, economic, and regulatory best practices
• Prioritise farmers and workers for holistic development of people, biodiversity, and communities

Resources:
No quantified financial resources disclosed.

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Responsible cultivation and harvesting practices

Preservation of species diversity

Scope: Upstream value chain (botanical sourcing)
Activities:

• Agronomy projects to identify, understand and preserve diversity and richness of botanical species
• Investigation of domestication and cultivation opportunities to reduce pressure on wild supply
• Promotion of sustainable and ethical wild harvesting

Resources:
No quantified financial resources disclosed.

Rhodiogo programme (Rhodiola rosea domestication)

Scope: Upstream value chain
Objective: Reduce pressure from wild harvesting of endangered Rhodiola rosea species
Time horizon: Ongoing (launched prior to 2024)
Activities:

• Comprehensive cultivation programme
• Network of over 12 technical partners to define optimal agricultural and post-harvest practices
• First homemade extract from cultivated Rhodiola rosea roots achieved

Expected outcomes:

• Protecting endangered species while ensuring sustainable supply
• Complementing wild sourcing with cultivated sources

Resources:
No quantified financial resources disclosed.

Devil's claw support project (Namibia)

Scope: Upstream value chain
Partnerships:

• Namibian Devil's Claw Exporters Association Trust (NDCEAT)
• Namibian Network of the Cosmetics Industry (NANCi)
• Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH
• Part of BioInnovation Africa programme phase 2

Activities:

• Supporting sustainable wild harvesting of devil's claw (native Kalahari Desert plant)
• Alleviating pressure on wild harvested plants facing market demand

Resources:
No quantified financial resources disclosed.

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Citrus collection conservation

Scope: Research and biodiversity conservation
Partnership: University of California, Riverside
Activity: Long-standing investment supporting the world's most extensive citrus collection

Resources:
No quantified financial resources disclosed.

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Responsible sourcing verification (UEBT standard)

Scope: Upstream value chain (botanical supply chains)
Partnership: Union for Ethical BioTrade (UEBT)
Coverage: Over 15 key botanical supply chains assessed in 2024
Programme: Sourcing4Good programme
Activities:

• Farm-level assessments and verification using UEBT standards
• Focus on niche botanicals and wild harvest supply chains
• Field projects on human rights, biodiversity action plans, and risk assessment
• Sponsorship of UEBT annual 'Sourcing with Respect' conference
• Support for position paper development

Resources:
No quantified financial resources disclosed.

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Palm oil sustainability and traceability

Scope: Upstream value chain
Coverage:

• 82% mill-level traceability (>1,900 mills across 25+ countries)
• 61% plantation-level traceability (increased from 54% in 2023)
• 42% RSPO mass balance certified volume

Partnerships:

• Earthworm Foundation
• Roundtable on Sustainable Palm Oil (RSPO)
• Earthworm Foundation Palm Derivatives Working Group

Activities:

• Grievance monitoring within palm supply chains
• Participation in EPI Lite tool pilot for derivatives supply chain
• Collective engagement with key supplier partners
• Participation in 5 landscape projects (Indonesia, Malaysia, Ivory Coast)

Resources:
No quantified financial resources disclosed.

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Alliance for Regeneration membership

Scope: Value chain transformation
Partnership: Alliance for Regeneration (2024 membership)
Target: 100% traceable raw materials respecting natural ecosystems by 2030
Activities:

• Action to prevent deforestation and land conversion for agriculture in natural ingredients supply chains
• Participation in working groups on responsible sourcing practices (deforestation-free supply chains)
• Support for landscape projects in commodities-producing regions (Venezuela, Ethiopia)
• Focus on responsible tropical commodities (palm oil, cocoa, coffee)

Resources:
No quantified financial resources disclosed.

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Environmental improvements in sourcing (Turkey rose, Egypt jasmine)

Scope: Upstream supply chain
Programme: Harvesting the Future projects
Activities:

• Health and safety infrastructure on four pilot farms
• Agrochemical storage, rural sanitation, water analysis
• Mapping environmental risks
• Promoting reforestation on farms

Time horizon: Target by 2026
Expected outcomes:

• 60 farmers and ~150 workers trained by 2026
• 2,000 native trees planted on farms by 2026

Resources:
No quantified financial resources disclosed.

Impact metrics related to biodiversity and ecosystems change

Operations in or near protected areas and Key Biodiversity Areas

Givaudan has identified 21 production sites located in biodiversity hotspots (out of 78 total sites worldwide).

Using the WWF Biodiversity Risk Filter, approximately 10 sites face high physical risk due to environmental factors, including water scarcity and biodiversity sensitivity.

Operational sites owned, leased, managed in, or adjacent to, protected areas and areas of high biodiversity value

Note: According to environmental assessments carried out on the sites, there is no indication of adverse impacts on nearby protected areas or species present due to site activities.

IUCN Red List Legend: LC = Least Concern, VU = Vulnerable, EN = Endangered, CR = Critically Endangered

Land use and deforestation

Palm supply chain traceability:

• 82% traceability to mill level
• 61% traceability to plantation level (exceeding 80% target by 2025)

Givaudan is committed to No Deforestation, No Peat, No Exploitation (NDPE) principles in palm supply chain since 2020, in partnership with Earthworm Foundation.

RSPO-certified palm oil: Part of Givaudan's palm sourcing is RSPO-certified. RSPO-certified palm oil production has approximately 36% reduced carbon intensity in kgCO2e per kg of palm oil compared to conventional production.

Species impact metrics

Givaudan uses the IUCN Red List of Threatened Species and national Red Lists to understand and monitor conservation status of wild species in supply chains.

Raw material suppliers are evaluated using risk databases including UEBT and TRAFFIC for specialty ingredients, and Global Forest Watch maps to prioritise actions where specific risks exist.

Restoration and regenerative agriculture metrics

Patchouli supply chain (Sulawesi, Indonesia):

• Distributed over 800,000 patchouli seedlings, some potted in banana leaves to minimise plastic waste
• Establishing 4 nurseries to supply farmers with approximately 5,000 kaliandra service trees for hedgerows around farms

Lavender/lavandin supply chain:

• Comprehensive assessments conducted on 3 representative lavender farms evaluating soil health and farming practices
• Trial protocol designed to be tested and monitored over three seasons

Rose supply chain (Turkey):

• Pilot phase included 57 producers
• Distributed weather probes providing timely alerts to protect rose bushes

Pesticide waste management (Sulawesi, Indonesia):

• Set up 6 pesticide collection bunkers
• Set up 59 pesticide boxes for individual farmer storage

Agronomy programmes globally:

• 24 supply chains covered
• 52 field trials across diverse pedoclimatic contexts (Agropoles)
• Network of approximately 70 technical, academic, and implementation partners
• 9 agronomists in global network

Tree planting for carbon sequestration: Cumulatively, Givaudan helped nature absorb around 145 tonnes of CO2 through tree planting initiatives (estimated using assumption that mature tree absorbs around 22kg CO2 per year).

Supply chain transparency and due diligence

Givaudan sources over 11,000 globally sourced raw materials for Taste & Wellbeing and Fragrance & Beauty products.

In 2024, initiated work to build digital data foundation to enhance sourcing portfolio assessment using:

• WWF Biodiversity and Water Risk filters
• World Database on Protected Areas (WDPA)
• Key Biodiversity Areas (KBA) database
• Conservation International Biodiversity Hotspots map
• IUCN Red List of Threatened Species

Environmental training and awareness

Devil's claw supply chain (Namibia): Over past two years, close to 120 local facilitators trained on Good Agricultural and Collection Practices guidelines (GACP+).

Employee engagement: 2024 employee survey on commuting received almost 7,000 valid responses, representing 41% of employees.

ESRS E5-4: Resource Inflows

Givaudan reports the weight of purchased raw materials and packaging materials used during the reporting period. The disclosure includes a split between renewable and non-renewable raw materials, as well as a breakdown by packaging material type.

Materials Used by Weight (Disclosure 301-1)

Total Weight of Purchased Raw Materials

Weight of Purchased Packaging

Additional Context

The company sources more than 11,000 different raw materials from around the globe, with annual procurement activities exceeding CHF 4 billion. The procurement network includes more than 2,800 raw material suppliers in over 100 countries and an additional 15,400 partners for indirect materials and services.

Givaudan's Sourcing4Good programme aims to ensure 100% of materials and services are sourced responsibly by 2030. As of 2024, 53% of total procurement spend portfolio (naturals, synthetics and indirect materials & services) was flagged as sourced responsibly, compared to approximately 33% at the end of 2023. For the naturals portfolio specifically, 85% of total naturals by spend was flagged as sourced responsibly versus 76% at the end of 2023.

The company's approach to sustainable procurement includes preferring raw materials from renewable sources, with reduced environmental footprint, and those that come from renewable carbon sources (recycled, bio-based, or GHG-based).

Resource outflows

Waste generation and disposal

Hazardous waste management

Non-hazardous waste management

Total waste metrics

Waste

Waste management approach

Givaudan drives continuous improvement in waste reduction and management with a focus on landfill disposal avoidance. The company applies circular principles in product design, sourcing, manufacturing and packaging, and acts on the principle of 'no waste by design'. Upcycling is used to reuse materials normally disposed of.

2030 Waste targets

• Zero operational waste directed to landfill for all manufacturing sites by 2030 (59% of sites already reaching target in 2024)
• Decrease operational waste for disposal intensity by 15% by 2030 (baseline 2020) - Status 2024: –8%
• 100% plastics circularity by 2030 - Status 2024: <2%

Waste data 2024

The scope for assured environmental performance indicators covers all production sites at all Givaudan entities and acquisitions (except for B. Kolor).

Hazardous waste (tonnes)

Non-hazardous waste (tonnes)

Summary metrics

• Total incinerated and landfilled waste (HZ and NHZ): 39,526 tonnes (2023) → 36,506 tonnes (2024)
• Waste intensity (kg/tonne of production): 58.71 (2023) → 51.12 (2024)
• One-off waste: 1,030 tonnes (2023) → 2,863 tonnes (2024)
• Total waste: 119,552 tonnes (2023) → 120,437 tonnes (2024)

Note: One-off waste is excluded from Scope 3.5 calculation. This indicator measures the total quantity of waste that is not directly related to daily operations, but is categorised as one-off waste. Examples include waste materials from demolition or remediation activities or waste following an unusual incident (e.g., a fire).

Preparation for reuse data was not collected in 2020. This category was included in reporting starting in 2021. Previously, this treatment was included in recycling processes.

Excluding one-time-only waste and waste sent to landfill only when other existing technical alternatives are not allowed due to regulatory requirements.

Policies related to own workforce

Givaudan discloses multiple policies that relate to its own workforce under ESRS S1-1, addressing human rights, labour conditions, health and safety, and business conduct.

Human Rights Policy

Policy name: Human Rights Policy

Scope:

• Applies to Givaudan's direct operations
• Applies to entities Givaudan owns
• Applies to facilities Givaudan manages
• Extends expectations to business partners through the Responsible Sourcing policy

Key content and principles:

• Outlines commitment to conducting business with respect for human rights worldwide
• Addresses fundamental rights at work including freedom of association and collective bargaining
• Covers working hours, fair wages, social security, legal and physical workplace protection, job security, and safeguards against unfair dismissals
• Zero tolerance for child labour, forced labour, compulsory labour, and human trafficking
• Commitment to paying living wage to all employees
• Protection against discrimination on grounds of gender, age, disability
• Mental health of employees

Approval and oversight:

• Overall accountability lies with the CEO and Executive Committee (EC)
• Internal management roles implement and embed the programme

Public availability:

• Available at: www.givaudan.com › Our company › Responsible business › Human rights

Alignment with international frameworks:

• International Bill of Human Rights
• ILO's Declaration on the Fundamental Principles and Rights at Work
• ILO Tripartite Declaration of Principles concerning Multinational Enterprises and Social Policy
• UN Guiding Principles on Business and Human Rights (UNGPs)
• OECD Guidelines for Multinational Enterprises on Responsible Business Conduct
• UN Global Compact Ten Principles
• WBCSD CEO Guide to Human Rights
• Relevant ILO Conventions related to minimum age and worst forms of child labour (C138 and C182)

Implementation and monitoring:

• Human Rights framework includes: policy commitment, governance & accountability, assessing risks and impacts, integrating findings & taking action, building capacity, partnerships & engagement, tracking & reporting performance, and remediation
• Global impact assessments conducted regularly with external expert support
• Human Rights Impact Assessments (HRIA) conducted in supply chains
• Performance indicators monitored with decentralized approach
• Field assessments and audits
• All production sites covered through Sedex programme membership since 2010
• Third-party SMETA (Sedex Members Ethical Trade Audit) assessments conducted (28 sites audited in 2024)
• 74 active production sites and 4 joint ventures part of Sedex programme by end of 2024

Principles of Conduct

Policy name: Principles of Conduct

Scope:

• Group-wide, applies to all Givaudan employees
• Expectations extended to business partners and stakeholders

Key content and principles:

• Sets clear principles of integrity, respect, and responsibility
• Three pillars: Legal and ethical business dealings, Responsible corporate citizenship, and Protecting Givaudan's assets
• Addresses child labour, forced labour, human trafficking
• Anti-bribery and anti-corruption (zero tolerance)
• Conflict of interest management
• Freedom of expression and rights to work and education
• Every employee responsible for upholding principles in daily actions

Approval and oversight:

• Undersigned by the Chairman of the Board and CEO
• Last reviewed and updated in 2018

Public availability:

• Available in 9 major Company languages
• www.givaudan.com › Our company › Responsible business › Code of conduct

Alignment with international frameworks:

• UN Global Compact
• Supports comprehensive governance framework

Implementation and monitoring:

• Comprehensive governance framework with regularly updated policies
• Rigorous employee training on data security, anti-discrimination, and confidentiality
• Integrity Programme with dedicated Integrity committees for each EC member, meeting bi-annually
• Oversight by Group Counsel and Integrity Officer
• Network of Company Managers, Local Integrity Officers, and Regional Company Management Coordinators
• Regular updates to Board, Audit Committee, Executive Committee, and CEO
• External audits validate commitment
• Group-wide integrity helpline system (web intake and telephone, available 24/7 in all major languages)
• Dedicated grievance email channel
• All reports reviewed and investigated as appropriate
• Zero tolerance for retaliation against good faith reporters
• Quarterly reporting to Audit Committee of the Board

Global EHS (Environment, Health and Safety) Policy

Policy name: Global EHS Policy

Scope:

• All Givaudan sites and employees
• Extended to joint ventures
• Expectations for suppliers outlined in Responsible Sourcing policy

Key content and principles:

• Maintenance of secure and healthy workplace environment
• Fostering responsible employee conduct
• Provision of essential tools and training
• Workplace accidents and injuries prevention
• Occupational health concerns
• Physical integrity and security
• Employee engagement
• Mental health and wellbeing
• Company culture and job satisfaction

Approval and oversight:

• Corporate EHS function monitors policy implementation
• Corporate EHS submits policy proposals to the EC
• Corporate EHS has authority to translate policy into mandatory processes throughout Givaudan
• Responsibility for Environment, Health and Safety (EHS) includes Responsible Care Management System (RCMS)

Implementation and monitoring:

• Regular consultations with Union/Works Council members at all applicable sites
• 31% of workforce covered by collective bargaining agreements
• Genuine dialogue with employee representatives
• Regular feedback to Executive Committee
• Employees have right to withdraw from potentially harmful work situations

Responsible Sourcing Policy

Policy name: Responsible Sourcing Policy

Scope:

• Applies to business partners and suppliers
• Covers own operations and value chain

Key content and principles:

• Requirements on child labour, forced labour, compulsory labour, and human trafficking
• Human rights expectations for suppliers
• Health, safety, and environmental standards
• Social and business integrity requirements
• Living wage and income considerations in supply chain

Public availability:

• www.givaudan.com › Our company › Responsible business › Position statements, policies, rules, reports

Alignment with international frameworks:

• OECD Due Diligence Guidance for Responsible Business Conduct
• UN Guiding Principles on Business and Human Rights

Implementation and monitoring:

• 100% of raw material and in-scope indirect materials and services (IM&S) suppliers received the policy
• Supplier due diligence questionnaire (DDQ) applied
• Third-party audits of key suppliers required
• Field assessments and internal reviews
• Training sessions for procurement teams (23 procurement colleagues attended human rights training in 2024)
• Published grievance mechanism for suppliers and stakeholders

Global Anti-Bribery, Gifts, Entertainment and Hospitality Policy

Policy name: Global Anti-Bribery, Gifts, Entertainment and Hospitality Policy

Key content and principles:

• Zero tolerance for bribery and corruption
• Does not make facilitation payments
• Detailed in Principles of Conduct
• Managed as focus compliance risk area within Compliance Management System

Scope:

• All employees worldwide, regardless of location or job level
• Translated into all applicable Company languages

Alignment with international frameworks:

• UK Bribery Act
• US Foreign Corrupt Practices Act
• French Loi Sapin II
• GRECO standards

Implementation and monitoring:

• Communication and training for all employees
• Training tracked as key metric
• Rolled out in all acquired entities
• Process for agents and distributors includes integrity due diligence review
• Pre-signing due diligence for acquisitions

Global Conflict of Interest Policy

Policy name: Global Conflict of Interest Policy

Key content and principles:

• Part of Integrity Programme
• Covered in employee training

Implementation and monitoring:

• Training provided to all employees
• Integrated into acquisitions rollout

Quality Policy

Policy name: Quality Policy

Scope:

• Applies to products and operations
• Relevant to workforce involved in product development and quality assurance

Taking action on material impacts on own workforce

Strategic pillars and initiatives

Givaudan has organized its workforce actions around three strategic pillars:

1. Everyone feels welcome, valued and inspired

• Champion diversity and inclusion through local health and wellbeing initiatives, gender equality commitments, and active employee networks and affinity groups
• Create an inspiring workplace where everyone thrives and feels supported

2. Caring for health, safety and wellbeing

• Promote dedicated employee programmes prioritizing people's health, safety, and wellbeing
• HOP methodology implementation
• EHS facilitator initiatives
• Local events to embed strong safety mindset
• Wellbeing calendar and Global Wellbeing Ambition to support safe, healthy workplace

3. Building the leadership and expertise of all our people

• Accelerate leadership development and attract workforce of tomorrow
• Equal pay commitments
• Robust succession planning
• Continuous learning and career growth opportunities
• Empower people to thrive and lead with confidence

Specific programmes and actions

Health and wellbeing programmes

Employee benefits review

• Annual review of employee benefits to ensure alignment with market standards
• Consider local social programmes and enhance with specific Company benefit plans
• Countries covered: USA, UK, Singapore, France, Indonesia, Malaysia, and Hungary
• Provide Company health plans that complement basic government health plans
• Time horizon: Ongoing annual reviews

Global wellbeing activities (2024)

• 300 colleagues celebrated International Women's Day

• 900 colleagues participated in webinar to foster allyship

• 2,000 employees attended activities to encourage proactive steps toward improved mental and financial wellbeing

• Organized numerous global and local activities supporting physical, mental, emotional health and social wellbeing
• Driving positive behaviours and actions at all levels of the organisation

Employee engagement and listening

Employee engagement surveys

• Most recent global survey conducted in 2023 with 80% response rate
• Next employee engagement survey planned for 2025
• Results: Strong sense of pride among employees
• Action: Addressed areas for improvement at both global and local levels since 2023 survey
• Time horizon: Will introduce new methods for capturing feedback over coming years

Employee Listening strategy

• Developed broader Employee Listening strategy and roadmap in 2024
• Aims to find new ways of capturing insights from colleagues
• Strategic plan to solicit innovative ideas for enhancing work environment

Career development and learning

Career Planning Tools relaunch (2024)

• Relaunched several Career Planning Tools
• Introduced new training opportunities for both managers and individuals
• Exploring long-term development strategies
• Introduction of digital enablers to increase access to and visibility of learning and job opportunities
• Addresses feedback on enhancing access to career opportunities

Diversity, equity and inclusion (DE&I) initiatives

Inclusive leadership training programme

• Piloted in 2023 for Executive Committee (EC) members
• Rolled out to all EC members and their teams in 2024
• Programme components: assessment, workshop, individual coaching sessions, final reassessment
• Duration: Several months
• Target: Help leaders understand what diversity, equity and inclusion really refer to

Unconscious bias training

• E-learning on unconscious bias available in nine languages
• Allows all employees to better understand attitudes that might prevent inclusion
• 10,463 participations to date
• Helps people become more self-aware in terms of unconscious bias

'Disrupt the Bias: Making Our Workplace More Inclusive' workshop

• Facilitated workshop offered to interested parties
• Part of ongoing capacity building efforts

DE&I awareness campaigns (2024)

• Launched several campaigns on inclusion, allyship, psychological safety and neurodiversity
• Target: Further raise awareness across organisation

Global Employee e-Zine

• New engaging digital publication introduced
• Covers people-related topics including diversity, inclusion, and employee wellbeing
• Aims to foster sense of community and connection
• Shares stories, insights, and best practices

'Women in Leadership' programme

• New bottom-up approach
• Offers opportunity to generate impactful initiatives
• Supports goal that 50% of senior leaders will be women before 2030
• Actively mentor and coach talent, particularly younger generation and women
• Examination of HR processes, particularly in talent management
• Scrutinize how equity is managed and support for underrepresented employees in senior management

Local and site-specific initiatives

Workplace Wellbeing Leads community

• Actively drives local inclusion and wellbeing initiatives more consistently across global sites
• Addresses sites with little activity

'Be Unstoppable' internship programme (Mexico, launched September 2024)

• Collaboration with 36 universities specializing in work inclusion for people with disabilities
• Recruit interns for commercial and operational sites in Mexico
• Results: 242 applications received, 8 interns with motor, visual, or neurological disabilities successfully onboarded

Brazil workplace improvements

• Continue to invest in improvements linked to Incredible Places to work accolade
• Local events organized on topics relevant for local teams and markets

Digital accessibility and inclusion

Corporate website accessibility enhancements (2024)

• First step towards compliance with European Accessibility Act 2025
• Enhanced functionalities for people with range of needs relating to vision, hearing, cognition and neurodivergence
• Features for: motor impaired, blind, colour blind, dyslexic, visually impaired, cognitive and learning difficulties, seizures/epileptic conditions, ADHD
• AI-powered widget allows readers to select different layouts, colors, text to enhance user-friendliness
• Automated translation feature being tested and tracked

Equal pay and equity

Equal pay commitments

• Part of building leadership and expertise pillar
• Identify any outstanding pay gaps and ensure prompt resolution
• Follow methodology of Swiss Federal Office for equity

Measurement and targets

Inclusion Index

• 2023 score: 74%
• Target: Rated among the leading employers for inclusion globally before 2025
• Next measurement planned towards end of 2025
• Will provide new inclusion score, closing 2025 target
• Focus on improving internal score while monitoring against external benchmarks

Diversity targets

• 50% of senior leaders will be women before 2030
• Increase leaders from high growth markets in senior positions

Governance and policies

• Support and promote Principles of Conduct
• Respect diversity in workplace
• Do not tolerate harassment
• Annual review of employee benefits aligned with market standards

Targets related to own workforce

The excerpts provided do not contain specific quantified targets related to the own workforce under ESRS S1-5.

The only reference to workforce-related targets states:

"We have embedded diversity targets into our strategy and into the objectives for the long-term remuneration for our top management. Performance against these targets is reviewed, audited and published annually."

However, no specific target metrics, target values, target years, baseline years, baseline values, or progress data are disclosed in the provided excerpts. The excerpts primarily focus on environmental targets (scope 3 emissions, climate) and risk management rather than workforce-specific targets.

Characteristics of the undertaking's employees

Total workforce

Employees by region

Employees by employment type

Employees by contract type

Characteristics of non-employees in the undertaking's own workforce

Contractor safety management

Givaudan's approach to managing contractors includes:

• Protection of employees, visitors, contractors and the surrounding neighbourhood from health hazards associated with work or the working environment
• Contractors are required to demonstrate a full understanding of the job/task/activities being performed and have a system to understand and control the risks in place
• Site policies and procedures and mandatory Contractor Safety Orientation/Training is performed before contractors are allowed on site
• Refresher training is performed annually
• Training content is tailored according to the assessed risk level and can range from basic safety guidelines to topics such as hazardous energy isolation
• Training is currently provided on a site-by-site basis

Work-related injuries for contracted workers

For employees linked to contract work, both the contracted party and Givaudan must be fully aware of and prepared for associated hazards.

Note: The company does not provide quantitative data on the number of non-employee workers (contractors, agency workers, self-employed) in its own workforce, their breakdown by type, or headcount/FTE methodology. The excerpts focus on safety management processes for contractors rather than workforce composition metrics.

Collective bargaining coverage and social dialogue

Collective bargaining coverage

31% of Givaudan's workforce is covered by collective bargaining agreements.

Freedom of association and collective bargaining

Givaudan respects every employee's right to freedom of association and collective bargaining and adheres to recognised best practices globally. The Givaudan Principles of Conduct and Human Rights policy outline the company's commitment to these rights.

The company strives to foster an environment that encourages open dialogue between employers and employees to understand and resolve challenges.

Givaudan supports individuals' rights to join trade unions or representative bodies, without discrimination.

Works councils and employee representation

Regular consultations with Union/Works Council members occur at all applicable sites, including EU operations, to ensure that the right to freedom of association and collective bargaining is upheld and that feedback is communicated to the Executive Committee for appropriate action.

European Works Council: The European Works Council forum took place in Vernier on 8 October 2024 and focused on employee topics such as compensation and benefits, employee experience and engagement, along with business performance updates from leaders.

Country-specific arrangements:

• France, Germany and UK (Europe, Africa and Middle East region): Works council or dedicated team of works council members (delegated by trade unions) must be informed of operational changes
• Hungary and India: Safety committee represented by Company Manager, representatives from line management, representatives from works council, and other production and non-production employees
• Indonesia: EHS Committee Team is a legal requirement, consisting of representatives from each department, meeting monthly
• Malaysia: Legal requirement for workplace committees

Site-level health and safety committees

Each Givaudan site must have an EHS Committee (SEC). Convened regularly, it governs and provides a forum for exchange on EHS topics relevant to the site. The SEC members represent all site activities.

Minimum notice periods for operational changes

Givaudan respects legal local notice periods prior to the implementation of changes that could affect employees, either through direct communication to these employees or through their elected representatives, union/works councils, or other groups.

In countries where there are collective agreements and where it is mandatory, minimum notice periods regarding operational changes are specified. These specified minimum notice periods can range from no notice to three months, depending on the country and local laws and practices.

Diversity metrics

Gender diversity overview

Employee composition by category and age

New hires by demographic

Adequate wages

Policy commitment

Givaudan states: "We are committed to paying a living wage to all our employees" (p. 131).

The company references alignment with the Ethical Trading Initiative (ETI) Base Code and states it pays "fair wages in line with acceptable local legal standards and the Ethical Trading Initiative (ETI) Base Code" (p. 143).

Benchmark used

No specific living wage benchmark or methodology is disclosed for assessing own employees. The company references:

• Ethical Trading Initiative (ETI) Base Code
• "Regular wage benchmarking exercises in geographies where we operate" (p. 143)
• Fair-on-Pay certification covering >80% of employees across 14 countries (Switzerland, Mexico, Singapore, Spain, Argentina, France, Hungary, the Netherlands, USA, Brazil, Germany, India, Indonesia, South Africa, UAE, UK)

However, Fair-on-Pay certification relates to pay equity/gender pay gap, not living wage benchmarking.

Minimum wage compliance

"Our commitment to an empowered workforce includes a commitment to pay all employees at least the minimum salary stipulated by law or collective agreements, and, in most cases, well above that minimum" (p. 143).

31% of workforce covered by collective bargaining agreements (p. 131).

Coverage and assessment

No data disclosed on:

• Percentage of workforce assessed against a living wage benchmark
• Percentage earning at or above living wage
• Methodology for living wage calculation
• Geographic scope of any living wage assessment

Value chain initiatives

"We also consider living wage and income in our supply chain and we are committed to working with our suppliers, customers, and peers to advance on this important topic" (p. 131).

Initiatives mentioned:

• UN Global Compact network participation (living wage topic)
• SVI (Sustainable Vanilla Initiative)
• Harvesting the Future for Rose Turkey and Jasmine Egypt projects (include living wage and income focus)
• AIM-PROGRESS working groups on "living wage and income" (p. 188)
• 2024 collaboration with external expert on "living income toolkit" for farmers/workers, planned for testing in 2025 in a key supply chain (p. 131)

Targets

No specific target disclosed for achieving living wage for 100% of own employees by a defined date.

Cross-reference

The company directs readers to "On our living wage assessment › Governance, Compensation and Financial report › p33" (p. 131), which is outside the excerpts provided.

Social protection

Retirement and benefit plans

Benefit plans seek to address current and future security needs of employees. These generally include retirement, health, death and disability benefits.

Coverage scope: All employees receive benefits including retirement, insurance and health care plans as part of their total compensation.

Parental leave policy

The Executive Committee has validated a parental leave policy which will be implemented in 2025. This policy reflects the company's commitment to inclusion by acknowledging diverse regional and local regulations, as well as the unique needs of employees during their parenting journey.

Current enhanced parental leave (USA only):

• New parents receive 6 weeks of paid leave in addition to 6 weeks provided to birth mothers through basic pregnancy disability benefits
• Total: 12 weeks for birth mothers (6 weeks parental + 6 weeks disability)

Defined benefit plan obligations

Disclosure 201-3: Information on defined benefit plan obligations and other retirement plans is referenced but specific metrics are not provided in the excerpts.

Employee compensation structure

Total compensation in 2024 includes:

• Base salary for all employees
• Benefits for all employees (including retirement, insurance and health care plans)
• Cash-based Profit Sharing Plan for approximately 10,000 non-management employees
• Cash-based Annual Incentive Plan for around 6,000 managers and executives
• Equity-based Performance Share Plan (PSP) for the top 500 employees (including the Executive Committee)

Training and skills development metrics

Performance and career development reviews

According to GRI 404-3 disclosure reference (page 144), Givaudan reports the percentage of employees receiving regular performance and career development reviews.

Note: The excerpts reference disclosure location page 144 for:

• GRI 404-2: Programs for upgrading employee skills and transition assistance programs
• GRI 404-3: Percentage of employees receiving regular performance and career development reviews

However, the actual metric values from page 144 are not included in the provided excerpts. The GRI content index confirms these disclosures exist in the report but the quantitative data is not visible in the extract provided.

Health and safety metrics

Coverage of health and safety management system

100% of Givaudan's own workforce is covered by the company's health and safety management system. The RCMS (Responsible Care Management System) applies to all workplaces within the organisation, whether used by Givaudan employees or external workforce on sites. Acquisitions are gradually brought into the Givaudan EHS reporting system.

Work-related injuries and fatalities

Total Recordable Cases by region (2023-2024)

Methodology notes

• TRC is according to the official OSHA definition
• Lost day rate: number of lost work days resulting from work-related accidents per 200,000 working hours. Calculation based on scheduled work days lost from the day after the accident
• 2024 includes 47 days carried over from previous year; 2023 includes 25 days carried over from previous year
• 10.69% of hours worked represent external temporary workers for whom the Company is liable
• Absenteeism: compared to the number of normal available working days, includes correction for employees working on a part-time basis

Fatalities

In 2024, two team members lost their lives in an explosion at the Sense Colour factory in Louisville, Kentucky, USA. Eleven other team members suffered injuries. A comprehensive investigation into the cause of the explosion is being conducted.

Work-life balance metrics

Parental leave policy

Givaudan is implementing a parental leave policy validated by the Executive Committee in 2025. The policy reflects commitment to inclusion by acknowledging diverse regional and local regulations, as well as unique needs of employees during their parenting journey.

USA enhanced parental leave policy (current):

• New parents receive 6 weeks of paid leave in addition to 6 weeks provided to birth mothers through basic pregnancy disability benefits

Flexible working arrangements

Within the global flexible working framework, employees have the option to pursue flexible working arrangements in line with local rules and guidelines.

GRI 401-3 Parental leave disclosure reference

The report references GRI Disclosure 401-3 on parental leave (page 143, 196) but specific metrics on percentage of employees entitled to family-related leave, percentage who took leave by gender, and return-to-work rates are not disclosed in the provided excerpts.

Compensation metrics (ESRS S1-16)

Pay gap

Givaudan has made significant strides in recognising equal pay by obtaining the Fair-ON-Pay certification across multiple sites, reinforcing its dedication to equitable compensation practices. After securing equal pay certification for all sites in Switzerland in 2021, the company has added 15 more country certifications, meaning it now covers more than 80% of the employee population.

Fair-ON-Pay Certification Coverage:

The company states: "Our commitment extends to fostering a work environment that is based on mutual respect and free from harassment. Our Principles of Conduct state that it is our policy to recruit, employ and promote people solely based on the qualifications and abilities needed for the work to be performed without regard to race, age, gender, national origin, or any other non-relevant category."

Givaudan conducts regular wage benchmarking exercises and conducts yearly studies in each key market to monitor gender pay equity, identify any outstanding pay gaps, and ensure prompt resolution. The company follows the methodology of the Swiss Federal Office for Gender Equality to ensure equal pay for equal responsibilities.

However, no specific numerical gender pay gap percentage (unadjusted or adjusted) is disclosed in the excerpts provided.

Remuneration ratio

Disclosure 2-21 states: "Due to the heterogeneity of the professional fields within the Group, Givaudan considers this information to be confidential and does not communicate any details on median compensation."

Givaudan has not disclosed the annual total compensation ratio of the highest-paid individual to median employee, citing confidentiality constraints.

Methodology

Givaudan bases its remuneration policy on the principles of pay for performance, external competitiveness, internal consistency, and fairness. The company follows the methodology of the Swiss Federal Office for Gender Equality for equal pay assessments. The Fair-ON-Pay certification process is used to validate equal pay practices across its sites globally.

Incidents, complaints and severe human rights impacts

Grievance mechanisms and reporting

Givaudan operates a Group-wide integrity helpline that allows employees and third parties to report suspected or actual misconduct or violations of the Company's policies on a confidential basis and without fear of retaliation. The helpline is available 24/7 and can be accessed in all company languages via the website. Reports can be made anonymously, and all issues are handled confidentially. The Company does not tolerate any form of retaliation against anyone who seeks advice or reports misconduct in good faith.

When a report is received through any of the grievance mechanism channels, it is accessed by the Group Integrity function. Reports meeting established thresholds may be escalated to the relevant Executive Committee (EC) member. Depending on the nature of the allegations and applicable local regulations, cases are addressed either at the local level or managed centrally with the involvement of relevant functions within Givaudan. External specialist support is engaged when necessary to ensure appropriate handling.

Helpline and grievance cases as well as their resolution are reported to the Audit Committee of the Board on a quarterly basis.

Suppliers are encouraged to raise any ethical concerns through mechanisms outlined in the Responsible Sourcing policy, which is shared with all suppliers.

Incidents of discrimination and harassment

GRI 406-1: The report references that incidents of discrimination and corrective actions are disclosed on page 143, however the specific metrics are not included in the provided excerpts.

Severe human rights impacts in supply chains

Givaudan has zero tolerance for any form of human rights abuse and follows strict governance, grievance, and remediation mechanisms to ensure compliance with principles and commitments relating to:

• Child labour
• Forced labour, compulsory labour and human trafficking
• Freedom of association and collective bargaining
• Working conditions and safety

The Company conducts human rights due diligence through:

• Self-assessments and supplier due diligence questionnaires (DDQ)
• Internal field assessments
• External risk and impact assessments
• Third-party audits (SMETA)

SMETA audits conducted: 28 third-party SMETA four-pillar audits were conducted at Givaudan sites in 2024.

Sedex programme coverage: By the end of 2024, 74 of Givaudan's active production sites and four joint ventures were part of the Sedex programme.

Human Rights Impact Assessments (HRIAs)

In 2024, Givaudan participated in and commissioned supply chain Human Rights Impact Assessments including:

• Industry coalition Harvesting the Future – Jasmine Egypt (detailed HRIA)
• Joint customer-initiated HRIA in Jasmine and Tuberose supply chains in India
• Partnership with Save the Children and The Centre for Child Rights and Business for HRIA in Clove supply chain in Madagascar
• Partnership with key supplier and FLA for joint HRIA in Ylang Comoros supply chain (initial stage completed December 2024, field assessment planned for January 2025)

A desktop review of human rights risk was conducted for 165 priority natural ingredients supply chain families in 2024, assessing 13 key human rights risk indicators including forced labour, child labour, working conditions, wages, gender, conflict and security, land rights, and climate vulnerability.

Child labour training programme - Egyptian Jasmine supply chain

Global results:

• 48 field employees of two main suppliers trained
• 2,379 jasmine farmers reached

Anti-corruption and anti-competitive behaviour

GRI 206-1: Legal actions for anti-competitive behavior are disclosed on page 163, though specific numbers are not provided in the excerpts.

GRI 205-2: Communication and training about anti-corruption policies and procedures is disclosed on pages 163-164, though specific training completion numbers and percentages are not provided in the excerpts.

Fines, penalties and compensation

No specific amounts for fines, penalties or compensation related to human rights incidents, discrimination, or other social impacts are disclosed in the provided excerpts.

Data privacy incidents

GRI 418-1: Substantiated complaints concerning breaches of customer privacy and losses of customer data are disclosed on page 184, though specific numbers are not included in the provided excerpts.

Taking action on material impacts on affected communities

Community development programs

626,489 People benefited from community initiatives (2023: 440,660) - representing a 14% increase

Responsible sourcing and community support

Through our Sourcing4Good programme, agronomy initiatives, and the Givaudan Foundation, we progressed towards our two community goals of sourcing responsibly and improving lives in communities where we source and operate. Our projects embody best practices across a range of topics from regenerative agriculture and biodiversity to water, health and sanitation (WASH), human rights, traceability and more.

Humanitarian response

We also announced a new Humanitarian Fund to support communities where we are present during major crises. Our vision is to build a thriving business with sustainability at its core.

Supply chain community impact

We also recognise the importance of addressing social issues within our supply chain, particularly the risk of child labour. In 2024 we developed a training and vigilance programme to enhance our responsible sourcing efforts and collaborated with the Fair Labour Association and the International Labour Organization.

Policies related to consumers and end-users

Givaudan discloses policies related to data privacy and product quality and safety for consumers and end-users.

Global Privacy and Data Protection policy

• Scope: The policy supports Givaudan's internal Privacy programme
• Key content: Part of numerous policies, procedures and transparency notices that support the internal Privacy programme. The policy addresses prevention, detection and response in maintaining data privacy and compliance
• Public availability: Internal policy (not publicly available)
• Monitoring: Data protection audits serve to create inventories of processing activities and map data, allowing for an assessment of various privacy risks and the development of remediation strategies. A four-step vendor-linked risk management process is in place based on identification, risk profiling, management and reporting

Data Subject Rights Requests policy

• Key content: Supports the internal Privacy programme regarding data subject rights
• Public availability: Internal policy (not publicly available)

Global Privacy Notice

• Public availability: Available on Givaudan's website

Global Candidate Privacy Notice

• Public availability: Available on Givaudan's website

Implementation and awareness

Givaudan implements these policies through:

• Annual mandatory global data protection training for all Givaudan Group employees
• Cybersecurity Awareness Month in 2024 to reinforce the importance of safeguarding information and systems
• Firewalls, encryption, and intrusion detection systems to prevent unauthorised access to sensitive data
• Cybersecurity systems to detect intrusions and trigger responses
• Active stakeholder engagement on cybersecurity issues through incident disclosures, regular reporting, and public statements

No substantiated complaints concerning breaches of customer privacy or losses of customer data were reported during 2024.

Taking action on material impacts on consumers and end-users

Innovation for consumer health and wellbeing

We introduced diverse innovations to expand our portfolio of tools and ingredients for creating healthier, more nutritious solutions that respond to changing consumer preferences. This included new ingredients for sugar reduction, alternative dairy mouthfeel, natural energy, and taste solutions in the areas of vegan fish, vegan cheese and high impact grills.

Active beauty innovations

We launched Neuroglow™, a breakthrough active ingredient. It boosts melanin and wellbeing molecules like beta-endorphin, vitamin D and oxytocin, allowing it to safely replicate all the positive effects of the sun. It provides a quick and efficient solution for products, giving the skin a healthy glow while uplifting mood and positive emotions.

Sustainable ingredient solutions

Our new biotech-enhanced molecule, Illuminyl™ 388, is designed to address the challenges of skin pigmentation. Simultaneously targeting multiple skin pigmentation pathways, the molecule demonstrates our commitment to inclusivity in skincare innovation by creating a holistic luminous effect to diverse skin types from Africa, Asia, India, and Europe.

Environmental impact reduction

Ingredients such as PrimalHyal™ 50 Life meets the increasing demand for eco-friendly cosmetic ingredients by achieving a 91% reduction in environmental impact through our revolutionary production method. Similarly, SunThesis® provides a sustainable alternative that is crucial for mitigating environmental impact and ensuring a stable ingredient supply.

Health and nutrition solutions

Ingredients such as Svetol™ supports weight management and cardiovascular health, demonstrating how we help our customers create products for happier and healthier lives.

Business conduct policies and corporate culture

Givaudan addresses business conduct through a comprehensive governance framework anchored in several key policies and mechanisms. The company's approach is based on international standards and strong ethical principles.

Principles of Conduct

Policy name: Principles of Conduct (also referred to as Code of Conduct)

Scope: All employees worldwide. The Principles are available in 9 languages.

Approval and oversight: Not explicitly disclosed in the excerpts.

Key content and principles: The Principles of Conduct are developed around three pillars:

• Legal and ethical business dealings
• Responsible corporate citizenship
• Protecting Givaudan's assets

The Principles include a section on 'How we live the Principles', which reiterates each employee's responsibility for ethics and integrity. The company expects every employee to take personal accountability for upholding the Principles in daily actions within their own sphere of influence and with business partners and stakeholders.

The Principles state that Givaudan has zero tolerance for bribery and corruption and does not make facilitation payments.

Public availability: Available on www.givaudan.com › Our company › Responsible business › Code of conduct

Links to international standards: The company's business practices are aligned with international standards, local laws and Givaudan internal regulations. Specific mention is made of:

• UK Bribery Act
• US Foreign Corrupt Practices Act
• French Loi Sapin II
• GRECO standard (for Switzerland)

Monitoring implementation:

• Regular updates on the compliance programme's progress are provided to the Board, the Audit Committee, the Executive Committee, and the CEO
• The company has internal and external whistle-blowing lines in place
• Group-wide integrity helpline system allows employees and third parties to report suspected or actual misconduct
• Helpline and grievance cases and their resolution are reported to the Audit Committee of the Board on a quarterly basis
• Training is tracked as a key metric in efforts to combat corruption and unethical behaviour

Global Anti-Bribery, Gifts, Entertainment and Hospitality Policy

Policy name: Global Anti-Bribery, Gifts, Entertainment and Hospitality Policy (also referenced as Global Anti-Bribery, Gift, Entertainment and Hospitality policy)

Scope: All employees worldwide, regardless of location or job level. The policy has been translated into all applicable Company languages. Specific processes exist for agents and distributors including integrity due diligence review and requirements for contracts and payments.

Approval and oversight: Managed as a focus compliance risk area within the Compliance Management System. Implementation overseen by Group Integrity Officers and Regional Company Management Coordinators.

Key content and principles: Anti-bribery and anti-corruption compliance, aligned with zero tolerance for bribery and corruption. No facilitation payments are made.

Public availability: Available internally (as noted in the report).

Links to international standards: Aligned with:

• UK Bribery Act
• US Foreign Corrupt Practices Act
• French Loi Sapin II
• GRECO standard

Monitoring implementation:

• Communication and training to all employees worldwide
• Training programme available online or offline in all relevant languages
• Pre-signing due diligence for acquisitions and full integration into the Integrity programme upon closing
• Regular tracking as a key metric

Global Data Protection Policy

Policy name: Global Privacy and Data Protection Policy

Scope: Company-wide, with a Group Data Protection Officer overseeing implementation.

Key content and principles: Establishes minimum standards for processing personal data. Part of a five-pillar internal privacy programme including: policies and procedures; data protection audits; training and awareness; monitoring compliance; and vendor risk management.

Public availability: Internal policy. Related transparency notices include Global Privacy Notice and Global Candidate Privacy Notice available on Givaudan's website.

Monitoring implementation:

• Group Data Protection Officer oversees implementation
• Data protection audits create inventories of processing activities
• Annual mandatory global data protection training for all Givaudan Group employees
• Four-step vendor risk management process

AI Ethics Policy

Policy name: AI Ethics Policy

Status: Under development (as of the reporting period).

Key content and principles: Being developed to address challenges related to ethics, intellectual property, and other issues that arise with the use of artificial intelligence. The policy will prioritise AI ethics, use AI to augment rather than replace human capabilities, and ensure robust security measures.

Additional Policies Referenced

Global Conflict of Interest Policy: Mentioned in the context of acquisitions and employee communication, but details not provided in excerpts.

Data Subject Rights Requests Policy: Mentioned as supporting the internal Privacy programme.

Insider Dealing Policy: Systems in place regarding disclosure or acting on price-sensitive information.

Supporting Policies Available Externally

• Responsible Sourcing Policy
• Human Rights Policy
• Position statement on social responsibility
• Position statement on due diligence and transparency on child labour and forced labour

Governance Structure for Business Conduct

Business conduct policies are overseen through:

• Annual General Meeting of shareholders (AGM)
• Board of Directors
• Audit Committee (receives quarterly reports on integrity helpline cases)
• Executive Committee
• Compliance functions at various levels
• Group Integrity Officers
• Regional Company Management Coordinators

Grievance Mechanisms

The company operates:

• Group-wide integrity helpline system (web intake and telephone)
• Reports can be made anonymously and confidentially
• No retaliation policy for good faith reporting
• Cases assessed by Group Integrity function and escalated to relevant Executive Committee members as appropriate
• External specialist support engaged when necessary

Training and Awareness

The company conducts:

• Mandatory compliance training for relevant employees
• Anti-corruption training tracked as a key metric
• Training rolled out to all acquired entities
• Cybersecurity Awareness Month in 2024
• Annual mandatory global data protection training

Communication of policies is done in multiple languages to ensure accessibility across the global workforce.

Management of relationships with suppliers

Sourcing4Good programme

53% Of our total materials and services sourced responsibly (2023: 33%) - % by procurement spend, flagged as sourced responsibly upon completion of basic due diligence as defined in our Sourcing4Good programme.

Supply chain due diligence and training

We also recognise the importance of addressing social issues within our supply chain, particularly the risk of child labour. In 2024 we developed a training and vigilance programme to enhance our responsible sourcing efforts and collaborated with the Fair Labour Association and the International Labour Organization.

Supplier collaboration and development

Through our Sourcing4Good programme, agronomy initiatives, and the Givaudan Foundation, we progressed towards our two community goals of sourcing responsibly and improving lives in communities where we source and operate. Our projects embody best practices across a range of topics from regenerative agriculture and biodiversity to water, health and sanitation (WASH), human rights, traceability and more.

Supply chain visibility and tracking

Through cross-functional collaborative efforts, we increased the visibility of our inbound supplies and allowed for better tracking of deliveries at all stages of the raw material purchase order lifecycle. This enabled our teams to enhance service levels to customers by improving transportation lead times and proactively managing open purchase orders, reinforcing our commitment to delivering excellence.

Prevention and detection of corruption and bribery

Ongoing investigation collaboration

Another aspect of our commitment to transparency and integrity is our continuing collaboration with competition authorities on the ongoing investigation into the Fragrance Industry.

At Givaudan, transparency is fundamental and we hold ourselves to the highest standards of reporting. This demonstrates our commitment to ethical business conduct and cooperation with regulatory authorities.

Incidents of corruption or bribery

Confirmed incidents

Givaudan has not disclosed specific quantitative data on confirmed incidents of corruption or bribery during the 2024 reporting period in the excerpts provided.

Convictions and fines

No specific information is provided on convictions, legal decisions, or fines paid for violations of anti-corruption or anti-bribery laws in 2024.

Disciplinary actions

No data is provided on the number of employees dismissed or disciplined due to corruption or bribery.

Contracts terminated

No data is provided on contracts with business partners terminated or not renewed due to corruption or bribery violations.

Investigation procedures and speak-up mechanisms

Givaudan maintains a comprehensive integrity programme with multiple grievance mechanisms:

Integrity helpline: Givaudan operates a Group-wide integrity helpline system that allows employees and third parties to report suspected or actual misconduct or violations of Company policies on a confidential basis and without fear of retaliation. The helpline consists of a web intake and telephone reporting option, is available 24/7 at all sites worldwide in all major languages, reports can be made anonymously, and all issues are handled confidentially. The Company does not tolerate any form of retaliation against anyone who seeks advice or reports misconduct in good faith. The helpline is serviced by a third-party provider.

Grievance email channel: A dedicated grievance email channel allows reporting persons to report alleged non-compliance or other issues. This mechanism is published in Givaudan's Responsible Sourcing policy and on the public website.

Investigation process: When a report is received through any of the grievance mechanism channels, it is assessed by the Group Integrity function. Reports meeting established thresholds may be escalated to the relevant Executive Committee (EC) member. Depending on the nature of the allegations and applicable local regulations, cases are addressed either at the local level or managed centrally. External specialist support is engaged when necessary to ensure appropriate handling.

Reporting to governance: Helpline and grievance cases as well as their resolution are reported to the Audit Committee of the Board on a quarterly basis.

Supplier grievance mechanisms: Givaudan encourages suppliers to raise any ethical concerns and alerts them to the mechanisms available to do so via the Responsible Sourcing policy, which is shared with all suppliers.

Anti-corruption policies and training

Givaudan has zero tolerance for bribery and corruption and does not make facilitation payments. This principle is detailed in two policies:

• Global Anti-Bribery, Gift, Entertainment and Hospitality policy (first enacted in 2011, last amended in 2023)
• Global Charitable Donations, Philanthropy, Sponsorship and Lobbying policy (last amended in 2019)

In 2024, Givaudan introduced a new Integrity training strategy designed to promote continuous learning through regular monthly micro training sessions, replacing the traditional annual training format. Topics include Principles of Conduct, anti-bribery, and conflict of interest, with a target completion rate of 90% set for the monthly Integrity Training.

100% of raw material and Indirect Materials and Services (IM&S) suppliers have received Givaudan's Responsible Sourcing policy, which contains anti-bribery/anti-corruption requirements similar to those that apply to Givaudan's employees.

Political influence and lobbying activities

Regulatory advocacy and industry engagement

Givaudan actively engages in regulatory advocacy and industry leadership through membership in various industry organisations worldwide. The company is an active member of more than 80 working groups and committees in various industry organisations globally.

Leadership in industry associations

Givaudan provides leadership in several key industry associations:

• International Organization of Flavouring Industry (IOFI) - The company plays an important partner role in organisations related to food, additives, supplements and alternative proteins
• Natural Food colors Association (NATCOL)
• International Technical Caramel Association (ITCA)
• International Fragrance Association (IFRA) - Givaudan takes a leadership role in the fragrance and beauty industry
• Together for Sustainability (TfS) - Member since 2021, a chemical industry sustainability initiative
• Cosmetics Europe
• AISE (Association for Soaps, Detergents and Maintenance Products)
• CEFIC (European Chemical Industry Council)

Focus areas and advocacy topics

Key advocacy topics include:

• Chemical regulation: Successfully campaigned to support efforts to achieve responsible and proportionate European chemical regulations. The company leads the industry in advocacy for the role of sound toxicological science in preserving fragrance ingredients targeted by proposed legislative changes under the Chemical Sustainability Strategy of the European Commission.

• Food and flavouring regulation: Advocacy for the importance of robust toxicological science in safeguarding flavouring ingredients affected by proposed legislative changes under the European Commission's re-evaluation process.

• Value chain collaboration: Drawn together value chain partners with IFRA, Cosmetics Europe, AISE and CEFIC to help work with the EU Commission to identify specific challenges to the fragrance and adjacent natural products industries, promoting proportional and coherent regulations that ensure human and environmental safety.

• Climate action: Participated in advocacy through signing the UN Pledge Business Ambition for 1.5°C through the Science-Based Targets initiative and the Corporate Leaders Group (CLG) Europe CEO letter to the EU on 2030 GHG emissions targets.

Ethical standards and policies

Givaudan's Global Charitable Donations, Philanthropy, Sponsorship and Lobbying policy, last amended in 2019, provides mandatory guidelines on:

• Permitted charitable causes
• Due diligence on recipients
• Reporting requirements

The policy is available to employees in all major Company languages.

Governance

The regulatory advocacy activities are monitored as part of the company's broader regulatory compliance framework, with teams of experts in regulatory and scientific affairs together with toxicologists proactively monitoring regulatory shifts in all geographical regions where the company does business.

Note: No quantitative data on political contributions, lobbying expenditure amounts, or specific trade association membership fees are disclosed in the reviewed documents.