Financial Analysis

COMMITMENTS AND CONTINGENCIES Guarantees and Letters of Credit The Company has various bank guarantees, letters of credit and surety bonds which are used to support its ongoing business operations, satisfy governmental requirements associated with pending litigation in various jurisdictions and the payment of customs duties. As of December 31, 2025, the Company had a total capacity of approximately $209 million of bank guarantees, commercial guarantees, standby letters of credit and surety bonds with various financial institutions. Included in the above aggregate amount was a total of approximately $11 million for other assessments in Brazil for various income tax and indirect tax disputes related to fiscal years 1998-2011. There was a total of approximately $50 million outstanding under the bank guarantees, standby letters of credit and commercial guarantees as of December 31, 2025. In order to challenge the assessments in these cases in Brazil, the Company has been required to, and has separately pledged assets, principally property, plant and equipment, to cover assessments in the amount of approximately $7 million as of December 31, 2025. Litigation The Company assesses contingencies related to litigation and/or other matters to determine the degree of probability and range of possible loss if reasonably estimable. A loss contingency is accrued in the Companys Consolidated Financial Statements if it is probable that a liability has been incurred and the amount of the loss …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

DEBT Debt consisted of the following at December 31: (DOLLARS IN MILLIONS) Effective Interest Rate 2025 2024 2025 Notes (1)(2) 1.22 % 1,000 2026 Euro Notes (1) 1.93 % 940 827 2027 Notes (1)(2) 1.56 % 804 1,209 2028 Notes (1) 4.57 % 399 398 2030 Notes (1)(2) 2.21 % 1,238 1,507 2040 Notes (1)(2) 3.04 % 341 771 2047 Notes (1)(2) 4.44 % 392 495 2048 Notes (1)(2) 5.12 % 674 787 2050 Notes (1)(2) 3.21 % 888 1,568 2026 Term Loan Facility (1) 4.88 % 413 Revolving Credit Facility (3) Commercial Paper (4) 314 Bank overdrafts and other 4 2 Total debt $ 5,994 $ 8,977 Less: Short term borrowings (1,254) (1,413) Total Long-term debt $ 4,740 $ 7,564 _______________________ (1) Amount is net of unamortized discount and debt issuance costs. (2) Included in the tender offers described below. (3) Borrowings under the Revolving Credit Facility are subject to interest at varying spreads above quoted market rates and a commitment fee is paid on the total unused borrowings. (4) The effective interest rate of commercial paper issuances fluctuates as short-term interest rates and demand fluctuate, and deferred debt issuance costs are immaterial. Refer to Commercial Paper below. Tender Offers On May 20, 2025, the Company completed tender offers to purchase for cash certain of its outstanding series of Senior Notes for an aggregate purchase price, excluding accrued and unpaid interest, of $2.0 billion. The carrying value of this series of Senior Notes purchased as a result of these tender offers was $2 …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

STOCK COMPENSATION PLANS The Company has various equity plans under which its officers, senior management, other key employees and Board of Directors may be granted options to purchase IFF common stock or other forms of stock-based awards. The cost of all employee stock-based awards is principally recognized on a straight-line attribution basis over their respective vesting periods, net of estimated forfeitures. Total stock-based compensation expense included in the Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) was as follows: December 31, (DOLLARS IN MILLIONS) 2025 2024 2023 Equity-based awards $ 88 $ 77 $ 65 Liability-based awards 1 2 2 Total stock-based compensation 89 79 67 Less: Tax benefit (18) (15) (11) Total stock-based compensation, net of tax $ 71 $ 64 $ 56 The shareholders of the Company approved the Companys Amended and Restated 2021 Stock Award and Incentive Plan on May 1, 2024 (the 2021 A&R SAIP). The shareholders of the Company approved the Companys 2021 Stock Award and Incentive Plan (the 2021 Plan) on May 5, 2021. The 2021 Plan replaced the Companys 2015 Stock Award and Incentive Plan (the 2015 Plan) and the Companys 2010 Stock Award and Incentive Plan (the 2010 Plan), and provides the source for future deferrals of cash into deferred stock under the Companys Deferred Compensation Plan (with the Deferred Compensation Plan being deemed a subplan under the 2010 Plan for the sole purpose of funding deferrals under the IFF Share Fun …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

GOODWILL AND OTHER INTANGIBLE ASSETS, NET Goodwill Movements in goodwill attributable to each reportable segment during the years ended December 31, 2024 and 2025 were as follows: (DOLLARS IN MILLIONS) Nourish Taste Food Ingredients Scent Health & Biosciences Pharma Solutions Total Balance at December 31, 2023 $ 3,489 $ $ $ 1,490 $ 4,391 $ 1,265 $ 10,635 Transferred to assets held for sale (1) (55) (1,248) (1,303) Reduction from business divestitures (2) (10) (10) Foreign Exchange (104) (25) (96) (17) (242) Other (5) (5) Balance at December 31, 2024 3,315 1,465 4,295 9,075 Reallocation of goodwill in segment reorganization (3,315) 2,176 1,153 (14) Transferred to assets held for sale (1) (6) (6) Reduction from business divestitures (2) (8) (8) Impairment (1,153) (1,153) Foreign exchange 134 43 184 361 Balance at December 31, 2025 $ $ 2,296 $ $ 1,508 $ 4,465 $ $ 8,269 _______________________ (1) For 2025, related to the Tobacco Flavoring business. For 2024, related to the Pharma Solutions disposal group and the Nitrocellulose business. The Company recognized $64 million of impairment related to the Pharma Solutions disposal group classified as held for sale as of December 31, 2024. See Note 3 for additional information. (2) For 2025, relates to the divestiture of the Rene Laurent business. For 2024, relates to the divestiture of the Flavors & Essences UK business. See Note 3 for additional information. The goodwill balance at December 31, 2025 was net of accumulated goo …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

INCOME TAXES Earnings before income taxes consisted of the following: December 31, (DOLLARS IN MILLIONS) 2025 2024 2023 U.S. income (loss) before taxes $ (1,421) $ (810) $ (1,777) Foreign income (loss) before taxes 1,009 1,118 (741) Total income (loss) before taxes $ (412) $ 308 $ (2,518) The income tax provision consisted of the following: December 31, (DOLLARS IN MILLIONS) 2025 2024 2023 Current tax provision Federal $ (178) $ (44) $ 47 State and local 4 9 Foreign 391 399 393 Total current tax provision 217 364 440 Deferred tax provision Federal (144) (203) (161) State and local (16) (28) 32 Foreign (110) (92) (242) Total deferred tax benefit (270) (323) (371) Total (benefit) provision for income taxes $ (53) $ 41 $ 69 Effective Tax Rate Reconciliation As further described in Note 1, Summary of Significant Accounting Policies, the Company has adopted the guidance in ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Taxes Disclosures, or ASU 2023-09. The following table is a reconciliation of the U.S. federal statutory tax rate of 21% to the Companys effective tax rate for the year ended December 31, 2025 in accordance with the guidance in ASU 2023-09: Year Ended December 31, 2025 Total % Earnings from continuing operations, before income tax expense $ (412) U.S. Federal Statutory Tax Rate (87) 21.1 % United States State and Local Income Taxes (a) (13) 3.2 % Federal Effect of Cross-Border Tax Laws Global intangible low taxed income 36 (8.7) % Other (3) 0.7 % …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

LEASES The Company has leases for corporate offices, manufacturing facilities, research and development facilities and certain transportation and office equipment, the majority of which are operating leases. The Companys leases have remaining lease terms of up to 50 years, some of which include options to extend the leases for up to 15 years. The components of lease expense were as follows: December 31, (DOLLARS IN MILLIONS) 2025 2024 2023 Operating leases Operating lease cost $ 123 $ 126 $ 137 Variable lease cost 68 58 56 Total operating lease cost $ 191 $ 184 $ 193 Finance leases Finance lease cost $ 14 $ 12 $ 10 Supplemental cash flow information related to leases was as follows: December 31, (DOLLARS IN MILLIONS) 2025 2024 2023 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows for operating leases $ 131 $ 122 $ 122 Operating cash flows for finance leases 2 1 1 Financing cash flows for finance leases 12 10 8 Right-of-use assets obtained in exchange for lease obligations Operating leases 77 69 49 Finance leases 20 16 22 Supplemental balance sheet information related to leases was as follows: December 31, (DOLLARS IN MILLIONS) 2025 2024 Operating Leases Operating lease right-of-use assets $ 579 $ 589 Current operating lease obligations (2) 92 82 Operating lease liabilities 533 550 Total operating lease liabilities $ 625 $ 632 Finance Leases Finance lease right-of-use assets (1) $ 32 $ 27 Current finance lease obligations (2) 12 10 Fi …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

Recent Accounting Pronouncements In December 2025, the FASB issued ASU 2025-12 Codification Improvements to address suggestions received from stakeholders on the Accounting Standards Codification and to make other incremental improvements to U.S. GAAP. The update represents changes to the Codification that (1) clarify, (2) correct errors, or (3) make minor improvements. The amendments make the Codification easier to understand and apply. The guidance is effective for fiscal years beginning after December 15, 2026, including interim periods within those fiscal years. The Company is currently evaluating the impact of this guidance on our Consolidated Financial Statements and related disclosures. In December 2025, the FASB issued ASU 2025-11 to amend the guidance in Interim Reporting (Topic 270). The update provides clarifications intended to improve the consistency and usability of interim disclosure requirements, including a comprehensive listing of required interim disclosures and a new disclosure principle for reporting material events occurring after the most recent annual period. The amendments do not change the underlying objectives of interim reporting but are designed to enhance clarity in application. The guidance is effective for fiscal years beginning after December 15, 2027, including interim periods within those fiscal years. The Company does not expect any significant impact on its financial condition or results of operations upon adoption. In December 2025, the F …

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EMPLOYEE BENEFITS The Company has pension and/or other retirement benefit plans covering approximately 20% of active employees. In 2007, the Company amended its U.S. qualified and non-qualified pension plans under which accrual of future benefits was suspended for all participants that did not meet the rule of 70 (age plus years of service equal to at least 70 as of December 31, 2007). Pension benefits are generally based on years of service and compensation during the final years of employment. Plan assets consist primarily of equity securities and corporate and government fixed income securities. Substantially all pension benefit costs are funded as accrued; such funding is limited, where applicable, to amounts deductible for income tax purposes. Certain other retirement benefits are provided by general corporate assets. The Company sponsors a qualified defined contribution plan covering substantially all U.S. employees. Under this plan, effective January 1, 2023, the Company matches 100% of the first 6% of participants contributions. In addition to pension benefits, certain health care and life insurance benefits are provided to qualifying U.S. employees upon retirement from IFF. Such coverage is provided through insurance plans with premiums based on benefits paid. The Company does not generally provide health care or life insurance coverage for retired employees of foreign subsidiaries; such benefits are provided in most foreign countries by government-sponsored plans, a …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

RESTRUCTURING AND OTHER CHARGES Restructuring and other charges primarily consist of separation costs for employees including severance, outplacement and other employee benefit costs (Severance), charges related to the write-down of fixed assets of plants to be closed (Fixed asset write-down) and all other related restructuring (Other) costs. All restructuring and other charges are separately stated on the Consolidated Statements of Income (Loss) and Comprehensive Income (Loss). N&B Merger Restructuring Liability During 2024, the Company incurred approximately $2 million of charges related to a lease impairment and no charges related to severance. During 2023, the Company incurred approximately $2 million of lease termination costs and lease impairment charges. From the inception of the program in 2021 to its completion, there were a total of 215 headcount reductions and the Company expensed a total of $49 million, of which $35 million related to severance and $14 million related to lease termination, lease impairment, and other costs. As of December 31, 2024, the program was completed. 2023 Restructuring Program In December 2022, the Company announced a restructuring program mainly related to headcount reduction to improve its organizational and operating structure, drive efficiencies and achieve cost savings. From the inception of the restructuring program, there were a total of 670 actual headcount reductions. During 2024 and 2023, the Company incurred approximately $4 …

RestructuringAndRelatedActivitiesDisclosureTextBlock · excerpt; the full note is in the filing

SEGMENT INFORMATION Effective January 1, 2025, the Company implemented a reorganization of its internal structure, which impacted the way the CODM, the Chief Executive Officer, allocates resources and assesses financial performance. As a result, the Company updated its reportable segments beginning with the first quarter of 2025. Specifically, the former Nourish segment has been separated into two new reportable segments: Taste and Food Ingredients. The Taste segment (formerly the Flavors business within Nourish) includes flavor compounds and natural taste solutions used in food and beverage applications. The Food Ingredients segment (formerly the Ingredients business within Nourish) includes a broad portfolio of natural and plant-based specialty ingredients that provide texturizing and food protection capabilities, as well as soy and pea protein solutions, emulsifiers, and sweeteners. In addition, immaterial business transfers occurred between Food Ingredients and Pharma Solutions, and between Health & Biosciences and Taste. Accordingly, the Companys reportable segments as of January 1, 2025 are: Taste, Food Ingredients, Health & Biosciences, Scent, and Pharma Solutions. The Company also adjusted its corporate cost allocations to align with the new organizational structure and updated operating model, consistent with how management assesses performance effective January 1, 2025. Segment information for the year ended December 31, 2024 and 2023 has been recast to refl …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

SHAREHOLDERS EQUITY Dividends Cash dividends declared per share were $1.60, $1.60 and $3.24 for the years ended December 31, 2025, 2024 and 2023, respectively. The Consolidated Balance Sheets reflect $102 million of dividends payable at December 31, 2025. This amount relates to a cash dividend of $0.40 per share declared in December 2025 and paid in January 2026. Dividends declared, but not paid as of December 31, 2024 and December 31, 2023 were $102 million ($0.40 per share) and $207 million ($0.81 per share), respectively. Share Repurchase Program On August 5, 2025, the Company announced that its Board of Directors has authorized a new share repurchase program with a total value of $500 million. The program began on October 1, 2025 and does not have a specified term or termination date. Under the program, the Company is authorized to repurchase shares of common stock in privately negotiated transactions, and/or open market transactions, including under plans complying with Rule 10b5-1 under the Exchange Act, and in block trades, or a combination of the foregoing. The Board will review the share repurchase program periodically and may authorize adjustment of its term and size. The Company plans to fund repurchases from available cash and cash provided by operating activities. During 2025, the Company repurchased approximatel y 584,000 shares of common stock at a cost of approximately $38 million. …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing

COMMITMENTS AND CONTINGENCIES Guarantees and Letters of Credit The Company has various bank guarantees, letters of credit and surety bonds which are used to support its ongoing business operations, satisfy governmental requirements associated with pending litigation in various jurisdictions and the payment of customs duties. The amounts disclosed below represent commitments and guarantees that include both continuing and discontinued operations. As of June 30, 2026 , the Company had a total of approximately $239 million of available bank guarantees, commercial guarantees, standby letters of credit and surety bonds with various financial institutions. There was a total of approximately $55 million outstanding under the bank guarantees, standby letters of credit and commercial guarantees as of June 30, 2026. In order to challenge certain assessments in Brazil, the Company has been required to, and has separately pledged assets, principally property, plant and equipment, to cover assessments in the amount of approximately $8 million as of June 30, 2026. Litigation The Company assesses contingencies related to litigation and/or other matters to determine the degree of probability and range of possible loss if reasonably estimable. A loss contingency is accrued in the Companys Consolidated Financial Statements if it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Because litigation is inherently unpredictable and unfavorable r …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

DEBT Debt consisted of the following: (DOLLARS IN MILLIONS) Effective Interest Rate June 30, 2026 December 31, 2025 2026 Euro Notes (1) 1.93 % 914 940 2027 Notes (1) 1.56 % 803 804 2028 Notes (1) 4.57 % 399 399 2030 Notes (1) 2.21 % 1,238 1,238 2040 Notes (1) 3.04 % 341 341 2047 Notes (1) 4.44 % 392 392 2048 Notes (1) 5.12 % 674 674 2050 Notes (1) 3.21 % 888 888 Revolving Credit Facility (2) Commercial paper (3) 50 314 Bank overdrafts and other 2 Total debt 5,699 5,992 Less: Short-term borrowings (964) (1,254) Total Long-term debt $ 4,735 $ 4,738 _______________________ (1) Amount is net of unamortized discount and debt issuance costs. (2) Borrowings under the Revolving Credit Facility are subject to interest at varying spreads above quoted market rates and a commitment fee is paid on the total unused borrowings. (3) The effective interest rate of commercial paper issuances fluctuates as short-term interest rates and demand fluctuate, and deferred debt issuance costs are immaterial. Refer to Commercial Paper below. Delayed Draw Term Loan Facility On June 23, 2026, the Company entered into a Term Loan Credit Agreement providing for a $1.0 billion senior unsecured delayed draw term loan facility. The facility permits a single borrowing in U.S. dollars through September 25, 2026, and matures on December 31, 2027, with no ability to re-borrow amounts repaid. Proceeds, together with cash on hand, are intended to refinance the Companys 800 million aggregate principal amount of 1.80 …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

STOCK COMPENSATION PLANS The Company has various plans under which its officers, senior management, other key employees and directors may be granted equity-based awards. Equity awards outstanding under the plans include Restricted Stock Units (RSUs), Stock-Settled Appreciation Rights (SSARs) and Stock Options, and Performance Stock Units (PSUs). Liability-based awards outstanding under the plans are cash-settled RSUs. Stock-based compensation expense and related tax benefits were as follows: Three Months Ended June 30, Six Months Ended June 30, (DOLLARS IN MILLIONS) 2026 2025 2026 2025 Equity-based awards $ 32 $ 29 $ 45 $ 46 Liability-based awards 1 1 2 1 Total stock-based compensation expense 33 30 47 47 Less: Tax benefit (6) (8) (9) (12) Total stock-based compensation expense, after tax $ 27 $ 22 $ 38 $ 35 As of June 30, 2026, there was approximately $86 million of total unrecognized compensation cost related to non-vested awards granted under the equity incentive plans. …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

GOODWILL AND OTHER INTANGIBLE ASSETS, NET Goodwill Movements in goodwill attributable to each reportable segment for the six months ended June 30, 2026 were as follows: (DOLLARS IN MILLIONS) Taste Scent Health & Biosciences Total Balance at January 1, 2026 $ 2,296 $ 1,508 $ 4,422 $ 8,226 Transferred to assets held for sale (8) (8) Foreign exchange (27) (11) (35) (73) Balance at June 30, 2026 $ 2,269 $ 1,489 $ 4,387 $ 8,145 Other Intangible Assets Other intangible assets, net consisted of the following amounts: June 30, December 31, (DOLLARS IN MILLIONS) 2026 2025 Asset Type Customer relationships $ 4,541 $ 4,625 Technological know-how 1,337 1,354 Trade names & patents 165 170 Other 25 25 Total carrying value 6,068 6,174 Accumulated Amortization Customer relationships (1,591) (1,507) Technological know-how (629) (592) Trade names & patents (95) (90) Other (21) (21) Total accumulated amortization (2,336) (2,210) Other intangible assets, net $ 3,732 $ 3,964 Amortization Amortization expense was $82 million for each of the three months ended June 30, 2026 and 2025, and $166 million and $162 million for the six months ended June 30, 2026 and 2025, respectively. Amortization expense for the next five years, based on valuations and determinations of useful lives, is expected to be as follows: (DOLLARS IN MILLIONS) Remainder of 2026 2027 2028 2029 2030 Estimated future intangible amortization expense $ 166 $ 329 $ 323 $ 297 $ 293 …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

INCOME TAXES The effective tax rate for the three months ended June 30, 2026 was 48.4%, which was primarily driven by increased non-deductible regulatory costs, changes in the mix of earnings as well as tax costs associated with repatriation activities, offset by favorable legislative changes impacting U.S. foreign inclusions. The effective tax rate for the six months ended June 30, 2026 was 27.7%, which was primarily driven by increased non-deductible regulatory costs, the entity realignment project, changes in the mix of earnings post business divestitures, offset by favorable legislative changes impact U.S. foreign inclusions. The effective tax rates for the three and six months ended June 30, 2025 were (25.6)% and (17.5)%, respectively, which were primarily driven by the tax benefit resulting from the entity realignment project, offset in part by the impact of business divestitures and changes in the mix of earnings following the divestitures.

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LEASES The Company has leases for corporate offices, manufacturing facilities, research and development facilities and certain transportation and office equipment. The Companys leases have remaining lease terms of up to 50 years, some of which include options to extend the leases for up to 15 years. The components of lease expense were as follows: Three Months Ended Three Months Ended Six Months Ended Six Months Ended (DOLLARS IN MILLIONS) June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Operating leases Operating lease cost $ 27 $ 27 $ 54 $ 47 Variable lease cost 13 8 26 27 Total operating lease cost $ 40 $ 35 $ 80 $ 74 Finance leases Finance lease cost $ 4 $ 2 $ 7 $ 5 Supplemental cash flow information related to leases was as follows: Six Months Ended Six Months Ended (DOLLARS IN MILLIONS) June 30, 2026 June 30, 2025 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows for operating leases $ 55 $ 56 Operating cash flows for finance leases 1 1 Financing cash flows for finance leases 6 4 Right-of-use assets obtained in exchange for lease obligations Operating leases 24 62 Finance leases 11 5 Operating lease right-of-use assets are presented in Operating lease right-of-use assets and finance lease right-of-use assets are presented in Other assets on the Consolidated Balance Sheets. Operating lease liabilities are presented in Operating lease liabilities and finance lease liabilities are presented in Other liabilities on the Consol …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

Recent Accounting Pronouncements In May 2026, the FASB issued ASU 2026-02 Environmental Credits and Environmental Credit Obligations to establish a comprehensive model for the recognition, measurement, presentation, and disclosure of environmental credits, including renewable energy certificates and carbon offsets. The update is intended to reduce diversity in practice and improve consistency in the accounting for these instruments. The guidance provides a model for recognizing and measuring related compliance obligations and requires expanded disclosures regarding the nature and use of such credits. The amendments are effective for fiscal years beginning after December 15, 2027, including interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impact of this guidance on its Consolidated Financial Statements and related disclosures. In December 2025, the FASB issued ASU 2025-12 Codification Improvements to address suggestions received from stakeholders on the Accounting Standards Codification and to make other incremental improvements to U.S. GAAP. The update represents changes to the Codification that (1) clarify, (2) correct errors, or (3) make minor improvements. The amendments make the Codification easier to understand and apply. The guidance is effective for fiscal years beginning after December 15, 2026, including interim periods within those fiscal years. The Company does not expect this guidance to have a signi …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

EMPLOYEE BENEFITS Pension and other defined contribution retirement plan expenses included the following components: (DOLLARS IN MILLIONS) U.S. Plans Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Interest cost on projected benefit obligation (1) $ 1 $ $ 1 $ 1 Net amortization and deferrals 1 1 Net periodic benefit cost - total $ 1 $ 1 $ 1 $ 2 (DOLLARS IN MILLIONS) Non-U.S. Plans Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Service cost for benefits earned (2) $ 5 $ 5 $ 10 $ 10 Interest cost on projected benefit obligation (1) 9 9 18 17 Expected return on plan assets (1) (15) (12) (29) (23) Net amortization and deferrals (1) 2 1 4 2 Net periodic benefit cost - total $ 1 $ 3 $ 3 $ 6 _______________________ (1) Included as a component of Other expense, net. (2) Included as a component of Operating profit. On a total Company basis, the Company expects to contribute a total of $5 million to its U.S. pension plans and a total of $17 million to its non-U.S. pension plans during 2026. During the six months ended June 30, 2026, $2 million of contributions were made with respect to the Companys non-qualified U.S. pension plans and $8 million of contributions were made to the non-U.S. pension plans. Expense recognized for post-retirement benefits other than pensions included the following components: Three Months Ended June 30, Six Months Ended June 30, (DOLLARS IN MILLIONS) 2026 2025 2026 2025 Interest cost on projected benefit o …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

RESTRUCTURING AND OTHER CHARGES Restructuring and other charges primarily consist of separation costs for employees including severance, outplacement and other employee benefit costs (Severance), charges related to the write-down of fixed assets of plants to be closed (Fixed asset write-down) and all other related restructuring (Other) costs. All restructuring and other charges are separately stated on the Consolidated Statements of Income (Loss) and Comprehensive Income (Loss). IFF Productivity Program In 2024, the Company commenced a productivity enhancement program aimed at improving productivity and optimizing its organizational footprint to align with business needs. This program will involve a series of actions, including ceasing operations in select manufacturing plants, consolidating leased and owned real estate space, and reducing employee headcount. The Company aims to substantially complete this productivity program by December 31, 2026. The estimated total cost of the program initiatives ranges from $85 million to $100 million. The anticipated cash charges include employee-related costs such as severance, contract terminations costs, and dismantling costs. Additionally, non-cash charges related to assets, such as fixed asset write downs, are expected. Since the inception of the program, the Company has recognized $78 million in severance costs and $1 million in fixed asset write-downs and site closure expenses. During the three and six months ended June 30, 2026, …

RestructuringAndRelatedActivitiesDisclosureTextBlock · excerpt; the full note is in the filing

SEGMENT INFORMATION The Companys reportable segments are: Taste, Health & Biosciences, and Scent. Beginning in the second quarter of 2026, the Company determined that the held for sale and discontinued operations criteria were met for the entirety of the Food Ingredients segment, after certain perimeter adjustments, and classified its results as discontinued operations for the periods presented. Accordingly, the Food Ingredients segment results have been excluded from the segment information herein. Prior to the sale of the Pharma Solutions disposal group in the second quarter of 2025, Pharma Solutions was also a reportable segment. The Companys CODM evaluates the performance of these reportable segments based on its Adjusted Operating EBITDA, which is defined as Income from continuing operations before taxes, depreciation and amortization expense, interest expense, restructuring and other charges and certain items that are not related to recurring operations. Certain corporate costs previously allocated to the Food Ingredients business for segment reporting purposes did not qualify for classification within discontinued operations and have been reallocated to the Companys three remaining segments. The Companys CODM uses Adjusted Operating EBITDA to evaluate segment performance in deciding whether to reinvest resources into the segment or into other parts of the entity. Budget versus actual results of Adjusted Operating EBITDA are used in assessing performance of the segm …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

SUBSEQUENT EVENTS Sale of Portfolio of Botanical Extracts, Vitamins & Minerals and Food Enhancement Products On July 20, 2026, the Company announced that it had entered into a definitive agreement to divest its portfolio of Botanical Extracts, Vitamins & Minerals, and Food Enhancement Products, which are primarily included in the Health & Biosciences and Taste segments. The transaction is subject to customary closing conditions and is expected to close in the fourth quarter of 2026. The Company expects the transaction to result in a pre-tax loss on the sale in the range of approximately $200 million to $300 million, inclusive of any related goodwill impairment. Enhanced Share Repurchase Authorization On August 4, 2026, the Company announced that its Board of Directors has authorized an enhanced share repurchase authorization with a total value of $2.5 billion; this amount included approximately $400 million remaining on its prior authorization. Under the program, the Board of Directors also authorized an accelerated share repurchase of $500 million, which the Company expects to execute in the second half of 2026. The remaining $2.0 billion share repurchase is expected to be executed following the closing of the Food Ingredients disposal group divestiture, with an expected completion of the program by the end of 2027. The Board will review the share repurchase program periodically and may authorize adjustments of its term and size. The Company plans to fund repurch …

SubsequentEventsTextBlock · excerpt; the full note is in the filing