IFF 2017

Deutsche Bank
Global
Consumer
Conference
Andreas Fibig
Chairman & CEO

June 13, 2017

Cautionary Statement
Statements made in this presentation that relate to our future performance or future financial results or other future events (identified by such terms as expect, anticipate, believe, outlook,
guidance, may, should, target or similar terms and variations thereof) are forward-looking statements, including the Companys expectations regarding the business environment in 2017, the
Companys 2017 guidance, expected revenues from acquired companies, the expected benefits and savings from the Companys planned productivity initiatives and expected long-term profitable
growth in 2018. These statements are based on our current beliefs and expectations and are subject to significant risks and uncertainties. Actual results may materially differ from those set forth in
the forward-looking statements. Factors that could cause IFFs actual results to differ materially include (1) macroeconomic trends affecting the emerging markets; (2) the Companys ability to
implement and refine its Vision 2020 strategy; (3) the Companys ability to successfully identify and complete acquisitions in line with its Vision 2020 strategy and to realize the anticipated benefits
of those acquisitions; (4) the Companys ability to realize the benefits of its productivity initiatives; (5) the Companys ability to effectively compete in its market, and to successfully develop new and
competitive products that appeal to its customers and consumers; (6) changes in consumer preferences and demand for the Companys products or a decline in consumer confidence and
spending; (7) the Companys ability to benefit from its investments and expansion in emerging markets; (8) the impact of currency fluctuations or devaluations in the principal foreign markets in
which the Company operates, including the devaluation of the Euro; (9) economic, regulatory and political risks associated with the Companys international operations, including challenging
economic conditions in China and Latin America; (10) volatility and increases in the price of raw materials, energy and transportation; (11) fluctuations in the quality and availability of raw materials;
(12) the impact of customer claims or product recalls; (13) the impact of a disruption in the Companys supply chain or its relationship with its suppliers; (14) changes in consumer preferences and
demand in the Companys products or a decline in consumer confidence and spending; (15) the Companys ability to comply with, and the costs associated with compliance, with U.S. and foreign
environmental protection laws; (16) the Companys ability to realize expected cost savings and efficiencies from its profitability improvement initiative and other optimization activities; (17) any
adverse impact on the availability, effectiveness and cost of the Companys hedging and risk management strategies; (18) the Companys ability to successfully develop new and competitive
products and technology that appeal to its customers and consumers; and (19) price realization in a rising input cost environment as well as those risks described in the Risk Factors and Forward-
Looking Statements sections of our Annual Report on Form 10-K for the year ended December 31, 2016 and in our other periodic reports filed with the SEC, all of which are available on our
website at ir.iff.com. In addition, this presentation contains estimates by IFF of the market size and the growth rates of the markets in which IFF competes. These estimates are principally based on
internal sources and market intelligence attained in the course of IFFs business. To the extent that IFFs estimates are not accurate it could affect IFFs understanding of its market share, the
potential opportunities of the various end-use categories and the market as a whole. We do not undertake to update the forward-looking statements or our market estimates to reflect the impact of
circumstances or events that may arise after the date of the forward-looking statements. We have disclosed certain non-GAAP measures within this presentation. Please see reconciliations to their
respective measures prescribed by accounting principles generally accepted in the U.S., all of which are available on our IR website at ir.iff.com.
Agenda

1. Introduction
2. Strategic Vision
3. Financial Perspective
4. Q&A
Insight Into Our Market
Estimated 2016 market size: ~$20B; growing 2 to 3% per year to 2020
Category Breakdown Market Growth Rates

Cosmetic 4.5%
Actives
8%
Fragrance
Ingredients
14%
Flavors 2.5%
Compounds
46% 2.0%
1.5%
Fragrance
Compounds
32%
Fragrance Fragrances Flavors Cosmetic
Ingredients Compounds Compounds Actives

Note: Total 2016 market potential of ~$20B based on Company estimates using 2015 market data and assuming Company estimates of category growth rates shown above
Well-Positioned Within Our Industry
Estimated market share summary as of 2016
Flavors & Fragrances Cosmetic Actives

Croda
BASF 7%
10%
Givaudan
Other
DSM
25% 5%
31%
IFF
Other 4%
52% Lonza
IFF 4%
Symrise 16%
Bioland
12% 4%
Firmenich
16% Symrise
4%
Gattefosse Silab Givaudan
Note: Based on Company estimates 3% 3% 4%
IFF By The Numbers
Innovation driven global organization

6 42 70
Creative &
75%
R&D Manufacturing Sales
centers facilities Application Centers outside North America

3,000 7,400 >35,000 $10.8B

Customers Employees Unique products Market
sold annually cap

Note: Information as of June 2017

Diversified Business Profile
Balanced mix across regions, categories & customers

Region Category Customer

49% 51% 48% 52% ~50% ~50%

Emerging Developed Fragrances Flavors Global Regional

Note: Based on full year 2016 results

Strong Financial Profile
Foundation built for growth

Solid Growth Proven Profitability

+5%*
5-Year Currency
20.0%*
2016 Adjusted
Neutral Sales CAGR Operating Profit Margin

Steady Cash Flow High Returns

17.2%
2016 Operating
17.6%*
2016 Adjusted Return
Cash Flow as % of Sales on Invested Capital
* Currency Neutral Sales, Adjusted Operating Profit Margin and Adjusted Return on Invested Capital
(ROIC) are Non-GAAP metrics, please see our GAAP to Non-GAAP Reconciliation at ir.iff.com
Long-Term Strategic Vision
Framework to achieve continuous growth

Vision 2020
We are the catalyst for discoveries that spark the senses and transform the everyday

Innovating Win Where Become Customers Strengthen &

Firsts We Compete Partner of Choice Expand the Portfolio
Drive differentiation Lead in key markets Actively support our Strengthen the F&F core
in key technologies Close gaps across value customers' success Stretch into adjacencies
Develop responsible enhancing categories Achieve commercial Pursue partnerships &
products to meet the Achieve #1 position with excellence & service collaborations
future needs of our targeted customers leadership
customers & consumers

Building Our Talent and Organization

Continuously Improving

Creating a Sustainable Future

Innovating Firsts: Fragrances
Strong growth trend in encapsulation continues

Fragrance Delivery Systems

+31%
CAGR

2011 2012 2013 2014 2015 2016

Note: Reflects growth of currency neutral net sales
Fragrance Delivery System Innovation
Expanding fragrance capsule technology into additional categories
Expanded Next High-
Original
Technology Generation Performance

Generation: 1 2 3 4 5 6
Description: First capsule Improved Improved Targeted Improved Improved
to market base stability retention on personal care release for deposition &
fabric & skin applications fabric apps adhesion to
hair, fabric
and skin
Fabric:

Home:
Personal:
Fine:
Innovating Firsts: Fragrances
New molecule pipeline strong

Fragrance Molecule Pipeline

2013 2014 2015 2016 2017E

Regulatory High Impact Performance Specialty Value
Innovating Firsts: Flavors
High growth across all prioritized Flavor innovation platforms

Flavors Delivery Systems Sweet & Savory Modulation

+69% +55%

June 2015 December 2016 June 2015 December 2016

Note: Reflects growth of currency neutral net sales

Win Where We Compete
Key strategic markets of North America, Africa & Middle East driving growth

EAME +4%

Greater
Asia +6%

North
America +7%

Latin
America (1)%

Note: Currency neutral net sales growth FY 2016

Customers Partner Of Choice
Strengthening go-to-market approach with targeted customers

U.S. Food & Beverage CPG Player Sales Strategic Initiative

Sales as a % of Total CPG Industry 2011-16 Market 2011-16 Growth within the NOAM food & beverage market
Share Growth (PP) Sales CAGR % primarily driven by small to mid-size companies
$710B $786B $797B Total - +2.3
100
14.6 14.9 14.6 Private
0.0 +2.2 Go-to-market approach requires specific criteria versus
90 Label
7.6 Extra the traditional model used for global customers
80 8.4 8.8 Small +1.2 +5.4
70 11.9 12.9 13.1 Small +1.2 +4.2
Through recent acquisitions of Ottens Flavors and David
60 17.0 17.3 17.3 Midsize +0.3 +2.8 Michael, we increased capabilities to serve small and
50 mid-sized customers
40
30
48.8 46.5 46.2 Large -2.6 +1.2 Expected to roll-out differentiated service model at 2017
20 IFT (Institute of Food Technologists) tailored
10 specifically for servicing for this segment
0
2011 2015 2016
Large Midsize Small Extra Small Private Label

Source: IRI & BCG 2016 Analysis of 400+ CPG US companies

Strengthen & Expand Portfolio
Added ~$280M in future annualized revenue; complimenting organic growth

Consolidated Company Sales

+6%
Currency neutral growth CAGR

2014 2015 2016 2017E

Note: Excludes the impact of year-over-year changes in exchange rates 16

Progress In Sustainability
Accelerated our commitments & driving results
We committed to: We achieved: 2020 Environmental Our 2015 Progress
Sustainability Goals (vs. 2010 Baseline)
COP 21 Paris CDPs Climate A list
Climate Agreement Reduce energy
for the second year
use by 20% (12.2)%
United Nations
Global Compact EcoVadis Gold Reduce GHG
CSR Rating emissions by 25% (17.8)%
Naturals
Certifications Reduce water
Euronext Vigeo use by 50% (39.5)%
US Top 50
Renewable
Energy
Reduce hazardous
Newsweek Green Rankings: waste by 25% (16.8)%
Responsible top 100 Green Companies in U.S.
Supply Chain

We initiated partnerships with:

Talent & Organization
Investing in our talent both now and for the future

Integrated process to generate

Workforce
intelligence to forecast and plan IFFs
Planning talent requirements and investments

Established our Multipronged

Recruiting Recruitment Strategy to connect
with top external talent pools

Leadership
Strengthened leadership
development programs and 82 33
Development embedded talent and execution Graduates Graduates
objectives for senior leaders Since Inception In Class of 2016

Talent
Pipeline Advanced our best-in-class pipeline IFF Perfumery
R&D Leadership Seasonings
with 7 technical schools School Flavorist
Academy
+ School
Ensuring Continued Success
Unlock savings, refine strategic priorities & deploy investments

Focus Execution
1
Extend zero-based budgeting throughout the organization
Productivity Implement more simplified organizational structure
Accelerate value realization of recent acquisitions

2
Continuously refine priorities to ensure changing market dynamics are captured
Strategy Reassess market position/ competitiveness by region, category & customer
If necessary, augment strategic priorities to continue to drive shareholder value

3
Further strengthen R&D and innovation platforms
Deployment Redeploy resources to highest return opportunities
Drive capital allocation for maximum value creation
Commitment To Maximizing Shareholder Value
Driving sustainable improvements across our key financial metrics

Adjusted Adjusted
Sales*
Operating Profit* EPS*

7.5 - 8.5%
6.5 -7.5%
5.5 - 6.5%
6%
5%
4%

2016 2017E 2016 2017E 2016 2017E

* Currency Neutral Sales, Currency Neutral Adjusted Operating Profit and Currency Neutral Adjusted 20
EPS are Non-GAAP metrics, please see our GAAP to Non-GAAP Reconciliation at ir.iff.com
Strong Capital Allocation Strategy
Three primary uses of cash

Capital
Capital
Expenditures
Expenditures

Financial Cash
Acquisitions Returned to
Flexibility Shareholders
CapEx To Support Organic Business
Investing in technology and infrastructure

Capital Expenditures
As a % of Sales

~ 4.5 - 5.0% ~ 4.5 - 5.0%

4.0% ~ 4.0%
~ 3.5%

2016 2017E 2018E 2019E 2020E

Accelerate Growth Through M&A
Enhancing organic results for greater value creation

Strategic M&A Criteria On-Track To Achieve V2020 M&A Ambition

Annual Sales Contribution

Routinely evaluate M&A opportunities At time of announcement

$1B
Value Creation Drivers
Companies with differentiated technology
Access to under-indexed markets or customers
Potential adjacencies that leverage our technology $500M
or strengthen our customer value proposition

Evaluate consistent with principles of Economic Profit

$280M
Cash Returned To Shareholders
Vision 2020 goal is 50-60% of adjusted net income*

$350 71%* 75% Dividends

66%*
65%
Increased dividend by 15% to provide a more
$300 competitive yield while balancing growth objectives
53%*
55%
$250
45%* $127
Share Repurchases
$122 45%
$200 Executing against existing repurchase program
31%*
29%* $88 35% to supplement dividend payout
$150
$51 25%
$100 Total Payout Ratio
$185 15%
$160
$133 The combination of dividend and share repurchases
$50 $103 $115
$90 5% totaled 71% in 2016, above our targeted range of 50%
to 60% of adjusted net income
$0 -5%
2011 2012 2013 2014 2015 2016
Dividends Share Repurchases Payout Ratio

* Adjusted net income is a Non-GAAP metric, please see our GAAP

to Non-GAAP Reconciliation at ir.iff.com
Summary

Framework To Achieve Continuous Growth

Robust Short & Long-Term R&D Strategy

Driving Sustainable Financial Improvements

INTERNATIONAL FLAVORS & FRAGRANCES

Q&A