Slide 1: Jefferies Tour de Scents - Croda F&F Parfex site visit
Jefferies Tour de Scents Croda F&F Parfex site visit M AY 2 0 2 5 © Copyright 2025 Croda International Plc
Slide 2: Disclaimer
Disclaimer C A U T I O N A R Y S TAT E M E N T A LT E R N AT I V E P E R F O R M A N C E M E A S U R E S ( A P M S ) This review is intended to focus on matters which are relevant to the interests of We use a number of APMs to assist in presenting information in this statement shareholders in the Co
Slide 3: A differentiated business model
A differentiated business model Unique business model with agility at its heart: F&F sales by division “Under increasing uncertainty, flexibility as a source of competitive advantage” • A wide portfolio and global platform: ~75k formulas with 16 manufacturing sites • Dynamic customer-driven R&D: 16
Slide 4: Focused on high-growth regions
Focused on high-growth regions INVESTING IN Sales by region HIGH-GROWTH REGIONS Latam ~80% 11% sales to Asia Africa 31% emerging 12% markets Present in Eastern Middle Europe 6% Western Europe ~125 East 24% countries Expansion of R&D centre in Dubai 16% F&F sales CAGR of 13% (2020-2024) • Middle East
Slide 5: Focused on L&R customers
Focused on L&R customers IN EMERGING MARKETS • Many L&R customers growing 2x faster than MNCs (see table on right) Yearly sales. Leading L&Rs growing 2x faster than MNCs I N M AT U R E M A R K E T S • Fragrance CMOs increasingly important for outsourced manufacture in Spain, Poland, Turkey and elsew
Slide 6: F&F benefitting from Croda ownership
F&F benefitting from Croda ownership RESPECTED OWNER SALES SYNERGIES TECH SYNERGIES BACK OFFICE • More stable ownership • Consumer insights • Collaborative innovation • Procurement synergies • Strong financial fundamentals • F&F sales into MNCs • New materials • Stronger IT systems • Broader brand r
Slide 7: F&F outperforming peers
F&F outperforming peers Like for like sales growth vs peers (%). 2020-2024 20% 15% 10% 5% 0% 2021 2022 2023 2024 -5% -10% Croda F&F Peer A Peer B Peer C Peer D Peers A-D are multi-national F&F companies © Copyright 2025 Croda International Plc 7
Slide 8: Rationale behind Parfex acquisition
Rationale behind Parfex acquisition Acquisition at 11.3x PE in 2021 Develop a global R&D and creation centre To position Parfex as a niche “Made in for haute parfumerie & natural fragrances France” brand with higher selling prices Leverage Parfex business within Iberchem's Leverage Iberchem capabi
Slide 9: Brand segmentation for all applications and price points
Brand segmentation for all applications and price points • Creativity through Science • French savoir-faire in perfumery • Creating flavours for customers worldwide • Global fragrance player; local approach • Made in Grasse. • Beverages, sweet and savoury applications • Expert in fragrance technolog
Slide 10: Some of Parfex's partners
Some of Parfex’s partners © Copyright 2025 Croda International Plc 10
Slide 11: Parfex – what we have achieved so far
Parfex – what we have achieved so far NET SALES (m€) EBITDA (m€) 17% ROS 14% ROS 38 6 25 3 2021 2024 2021 2024 © Copyright 2025 Croda International Plc 11
Slide 12: Parfex – accelerated Business Plan 2025-2031
Parfex – accelerated Business Plan 2025-2031 Enabling synergies, leveraging Croda Beauty reputation, focusing on premium customers in all regions Consistent past performance and excellent growth prospects, make us confident about achieving the business plan © Copyright 2025 Croda International Plc 1
Slide 13: Smart Science to Improve Lives
SMART SCIENCE TO IMPROVE LIVES © Copyright 2025 Croda International Plc 13