IFF FIRST QUARTER 2023 EARNINGS CONFERENCE CALL

Pricing Actions – Favorable price to inflation benefit

Nourish: Price increases & productivity more than offset by lower volumes &
unfavorable manufacturing absorption.

Health &
Biosciences: Price increases & productivity more than offset by lower volumes &
unfavorable manufacturing absorption.

Scent: Improvement led by volume growth, pricing & productivity gains.

OUTLOOK: Volumes to remain under pressure in Q2, with an acceleration in H2;
Implementing energy & raw material pass-through price adjustments.

OPERATING PRIORITIES: Targeted investments & successful pricing execution to recover inflation