Earnings release
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FOR IMMEDIATE RELEASE Media Relations: Jennifer McGowan 848.358.1680 Media.request@iff.com Investor Relations: Michael Bender 212.708.7263 Investor.Relations@iff.com IFF Reports Third Quarter 2026 Results Delivered Strong Sales, Profit and Cash Flow Performance in Third Quarter 2026 Raising Low-End of Full Year 2026 Financial Guidance Ranges Recently Completed $500M Share Repurchase Authorization Food Ingredients Divestiture Progressing Well and On Track to Close by End of Second Quarter 2027 NEW YORK - November 3, 2026 - IFF (NYSE: IFF) reported financial results for the third quarter ended September 30, 2026. Results are presented on a continuing operations basis, excluding the Food Ingredients business and other minor perimeter adjustments (the “Food Ingredients disposal group”), and the Soy Crush, Concentrates, and Lecithin businesses (the “SCL disposal group”). The Food Ingredients disposal group and the SCL disposal group are reported as discontinued operations. Third Quarter 2026 Consolidated Summary of Results, on a continuing operations basis: Reported(GAAP) Adjusted(Non-GAAP) Sales Loss Before Taxes EPS Operating EBITDAOperating EBITDAMargin EPS ex Amortization $1.9 B $(134) M $(0.50) $403 M 20.8% $0.83 First Nine Months 2026 Consolidated Summary of Results, on a continuing operations basis: Reported(GAAP) Adjusted(Non-GAAP) Sales Income Before Taxes EPS Operating EBITDAOperating EBITDAMargin EPS ex Amortization $5.8 B $126 M $0.23 $1.2 B 21.4% $2.58 Management Commentary “IFF delivered a solid third quarter, with improved sales and profitability across all divisions,” said Erik Fyrwald, CEO of IFF. “Taste and Scent delivered strong top- and bottom-line results, and Health & Biosciences improved modestly as we continue to strengthen the business. We also generated strong cash flow through the first nine months of 2026 and recently completed our $500 million accelerated share repurchase program. The separation of Food Ingredients is progressing well, and we are on track with our timeline to close.” Unless otherwise noted, results are presented on a continuing operations basis, reflecting the Food Ingredients disposal group and the SCL disposal group as discontinued operations. See pages 5-6 for further information, including the basis of presentation included in this release. Schedules at the end of this release contain reconciliations of reported GAAP to Non-GAAP metrics. See Use of Non-GAAP Financial Measures for explanations of our Non-GAAP metrics. 1 2 1 2 1 2 1
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“Heading into year-end, we are raising the low end of our full-year financial guidance ranges, supported by our year-to-date performance. Volumes remain solid as customers continue to value our strong R&D and innovation. At the same time, we expect fourth-quarter profitability to be softer, particularly in Health & Biosciences, reflecting higher costs as well as reinvestments to strengthen the business. Amid changing macroeconomic conditions, we remain focused on what we can control and are delivering on the financial commitments we set out earlier this year. Our continued execution and these actions give us confidence to deliver results within our full-year financial outlook and our ability to create long-term value for shareholders.” Third Quarter 2026 Consolidated Financial Results • Reported net sales for the third quarter were $1.94 billion, an increase of 4% versus the prior-year period. On a comparable basis, currency neutral sales increased 5% versus the prior-year period led by broad-based growth including mid-single digit performances in Scent and Taste and low-single digit growth in Health & Biosciences. • Loss from continuing operations before taxes on a reported basis for the third quarter was $(134) million. Adjusted operating EBITDA for the third quarter was $403 million. On a comparable basis, currency neutral adjusted operating EBITDA improved 6% versus the prior-year period, driven by volume growth. • Reported earnings per share (EPS) for the third quarter was $(0.50) per diluted share. Adjusted EPS excluding amortization was $0.83 per diluted share. • Cash flows from operations for the first nine months of the year for continuing and discontinued operations were $820 million, increasing $288 million year-over-year, and free cash flow, defined as cash flows from operations less capital expenditures, totaled $371 million, increasing $245 million year-over-year. Total debt to trailing twelve months net income at the end of the third quarter was 34.5x. Net debt to credit adjusted EBITDA at the end of the third quarter was 2.75x, and includes the effects of both continuing and discontinued operations. Third Quarter 2026 Segment Summary: Growth vs. Prior Year Reported(GAAP) ComparableCurrencyNeutral(Non-GAAP) Adjusted(Non-GAAP) ComparableCurrency NeutralAdjusted(Non-GAAP) Sales Sales OperatingEBITDA OperatingEBITDA Taste 4% 6% 4% 7% Health & Biosciences1% 1% 1% 2% Scent 6% 6% 9% 10% Consolidated 4% 5% 5% 6% Taste Segment • On a reported basis, third quarter sales were $687 million. On a comparable basis, currency neutral sales increased 6% with broad-based growth in all regions led by a double-digit increase in Greater Asia. • Taste adjusted operating EBITDA was $128 million and adjusted operating EBITDA margin was 18.6% in the third quarter. On a comparable basis, currency neutral adjusted operating EBITDA increased 7% driven by volume growth. Health & Biosciences Segment • On a reported basis, third quarter sales were $566 million. On a comparable basis, currency neutral sales increased 1% with growth in nearly all businesses. Mid-single digit growth in Food Biosciences and Grain Processing more than offset a decline in Health. • Health & Biosciences adjusted operating EBITDA was $136 million and adjusted operating EBITDA margin was 24.0% in the third quarter. On a comparable basis, currency neutral adjusted operating EBITDA increased 2% with the contribution split evenly between volume growth and favorable net price to input costs. Scent Segment Comparable results for the third quarter exclude the impact of divestitures. 1 3 2 2 3 2 2 2 2 1 2 3 2 2 3 3 2 2 2 3 2 3 2 2 2 3 2 3 2
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• On a reported basis, third quarter sales were $689 million. On a comparable basis, currency neutral sales increased 6% led by high-single digit growth in Consumer Fragrances. Fine Fragrance, against a strong double digit year ago comparable, and Fragrance Ingredients both grew mid-single digits. • Scent adjusted operating EBITDA was $139 million and adjusted operating EBITDA margin was 20.2% in the third quarter. On a comparable basis, currency neutral adjusted operating EBITDAincreased 10% driven by volume growth. Financial Guidance The Company provides financial guidance for continuing operations to reflect the separation of the Food Ingredients disposal group and SCL disposal group as discontinued operations. The Company now expects full year 2026 sales to be in the range of $7.5 billion to $7.6 billion (versus $7.4 billion to $7.6 billion previously). For the full year 2026 adjusted operating EBITDA is now expected to be in the range of $1.55 billion to $1.60 billion (versus $1.53 billion to $1.60 billion previously). On a continuing operations basis, the Company now expects comparable currency neutral sales growth to be between 3% to 4% (versus 2% to 4% previously), and comparable currency neutral adjusted operating EBITDA growth to be 5% to 8% (versus 4% to 8% previously). Based on recent market foreign exchange rates, the Company continues to expect that foreign exchange will have an approximately 1% positive impact on sales growth and have an approximately 2% positive impact on adjusted operating EBITDA growth in 2026. Audio Webcast A live webcast to discuss the Company’s third quarter 2026 financial results will be held on November 4, 2026, at 9:00 a.m. ET. The webcast and accompanying slide presentation may be accessed on the Company’s IR website at ir.iff.com. For those unable to listen to the live webcast, a recorded version will be made available on the Company’s website approximately one hour after the event and will remain available on IFF’s website for one year. Cautionary Statement Under The Private Securities Litigation Reform Act of 1995 This press release includes statements that are not historical facts and are “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on management’s current assumptions, estimates and expectations, including with respect to our financial and operational outlook (sales, adjusted operating EBITDA and cash flow), portfolio optimization initiatives (including the pending divestiture of our Food Ingredients disposal group and the expected timing and benefits thereof), pricing, productivity and cost-discipline actions, capital allocation, future operations, growth potential, strategic investments and the expected effects of foreign exchange. These statements reflect management’s present views, are based on a series of expectations, assumptions, estimates and projections about the Company, are subject to change, and involve uncertainties that could cause actual results to differ materially. Certain of such forward-looking information may be identified by such terms as “expect”, “anticipate”, “believe”, “intend”, “outlook”, “may”, “will”, “would”, “estimate”, “should”, “predict”, “plan”, “project”, “could”, “potential”, “seek”, “target”, “continue”, “future”, and similar terms or variations thereof. These statements are not guarantees of future performance and are subject to risks and uncertainties that could lead to materially different outcomes. Such risks, uncertainties and other factors include, among others, the following: (1) demand trends, competitive dynamics and customer concentration in our end markets; (2) execution of our strategic transformation and other strategic transactions, divestitures, acquisitions, collaborations and joint ventures; (3) working capital and inventory management; (4) outcomes of legal claims, disputes, regulatory investigations and litigation; (5) tariffs and trade actions, supply chain disruptions and macro events, including geopolitical developments, climate events, natural disasters, public health crises; (6) volatility in input costs (such as raw materials, transportation and energy); (7) attraction, retention and turnover of key employees and executives; (8) product innovation, time-to-market, product safety and quality; (9) cybersecurity incidents, artificial intelligence related risks, data privacy and compliance with data protection laws; (10) exposure to emerging markets, foreign currency fluctuations and international regulatory and political risks; (11) capital allocation, dividend policy and potential impairments of tangible or intangible assets; (12) our indebtedness, credit rating, liquidity, and access to capital; (13) pension and postretirement obligations; (14) compliance with federal, state, local and international rules and regulations, and regulatory, environmental, anti-corruption and 3 2 2 2 3 2 1 3
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sanctions laws and related ethical business practices; (15) protection and enforcement of intellectual property; (16) changes in tax laws and policies, tax audits and outcomes, including potential tax liabilities related to prior transactions; and (17) changes in federal, state, local and international rules and regulations. The foregoing list of important factors does not include all such factors, nor necessarily present them in order of importance. Important factors are described under “Risk Factors” in our most recent Annual Report on Form 10-K and in our subsequent filings with the SEC, and those disclosures are incorporated herein by reference. We intend our forward-looking statements to speak only as of the time of such statements and do not undertake or plan to update or revise them as more information becomes available or to reflect changes in expectations, assumptions or results, whether as a result of new information, future events or otherwise. We can give no assurance that such expectations or forward-looking statements will prove to be correct. An occurrence of, or any material adverse change in, one or more of the risk factors or risks and uncertainties referred to in this press release or included in our other periodic reports filed with the SEC could materially and adversely impact our operations and our future financial results. Any public statements or disclosures made by us following this press release that modify or impact any of the forward-looking statements contained in or accompanying this press release will be deemed to modify or supersede such outlook or other forward-looking statements in or accompanying this press release. Use of Non-GAAP Financial Measures We provide in this press release non-GAAP financial measures, including: (i) comparable currency neutral sales; (ii) adjusted operating EBITDA and comparable currency neutral adjusted operating EBITDA; (iii) adjusted operating EBITDA margin; (iv) adjusted EPS ex amortization; (v) free cash flow; and (vi) net debt to credit adjusted EBITDA. Unless otherwise noted, all amounts and percentages in this press release reflect the results from continuing operations, with the exception of the Statements of Cash Flows and net debt to credit adjusted EBITDA which are presented on a combined continuing and discontinued basis. Our non-GAAP financial measures are defined below. Currency Neutral metrics eliminate the effects that result from translating non-U.S. currencies to U.S. dollars. We calculate currency neutral numbers by translating current year invoiced sale amounts at the exchange rates used for the corresponding prior year period. We use currency neutral results in our analysis of segment performance. We also use currency neutral numbers when analyzing our performance against that of our competitors. Comparable results for the third quarter exclude the impact of divestitures. Adjusted operating EBITDA and adjusted operating EBITDA margin exclude depreciation and amortization, interest expense, other expense, net, and certain non-recurring or unusual items that are not part of recurring operations such as impairment of goodwill, restructuring and other charges, losses (gains) on business disposals, loss on assets classified as held for sale, divestiture costs, strategic initiatives costs, regulatory costs, gain on debt extinguishment, entity realignment and other items. Adjusted EPS ex Amortization excludes the impact of non-operational items including restructuring and other charges, divestiture costs, losses (gains) on business disposals, strategic initiatives costs, regulatory costs and other items that are not a part of recurring operations. Free Cash Flow is operating cash flow (i.e., cash flow from operations) less capital expenditures. Net debt to credit adjusted EBITDA is the leverage ratio used in our credit agreements and defined as net debt (which is debt for borrowed money less cash and cash equivalents) divided by the trailing 12-month credit adjusted EBITDA. Credit adjusted EBITDA is defined as income (loss) before interest expense, income taxes, depreciation and amortization, specified items and non-cash items. These non-GAAP measures are intended to provide additional information regarding our underlying operating results and comparable year- over-year performance. Such information is supplemental to information presented in accordance with GAAP and is not intended to represent a presentation in 4
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accordance with GAAP. In discussing our historical and expected future results and financial condition, we believe it is meaningful for investors to be made aware of and to be assisted in a better understanding of, on a period-to-period comparable basis, financial amounts both including and excluding these identified items, as well as the impact of exchange rate fluctuations. These non-GAAP measures should not be considered in isolation or as substitutes for analysis of the Company’s results under GAAP and may not be comparable to other companies’ calculations of such metrics. The Company cannot reconcile its expected adjusted operating EBITDA or comparable currency neutral growth rates under "Financial Guidance" to the most directly comparable GAAP measures without unreasonable effort because certain items that impact net income and other reconciling metrics are out of the Company's control and/or cannot be reasonably predicted at this time. These items include but are not limited to divestiture costs, gains (losses) on business disposals, and regulatory costs, and their probable significance cannot be determined at this time but could be material to the Company’s GAAP results. Welcome to IFF At IFF (NYSE: IFF), we make joy through science, creativity and heart. As the global leader in flavors, fragrances, and health and biosciences, we deliver groundbreaking, sustainable innovations that elevate everyday products—advancing wellness, delighting the senses and enhancing the human experience. Learn more at iff.com, LinkedIn, Instagram and Facebook. 5
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International Flavors & Fragrances Inc. Consolidated Statements of Income (Loss) (Amounts in millions except per share data) (Unaudited) Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 % Change 2026 2025 % Change Net sales $ 1,942 $ 1,869 4 % $ 5,802 $ 5,838 (1)% Cost of sales 1,117 1,070 4 % 3,295 3,363 (2)% Gross profit 825 799 3 % 2,507 2,475 1 % Research and development expenses 170 162 5 % 494 487 1 % Selling and administrative expenses 387 348 11 % 1,158 1,147 1 % Amortization of acquisition-related intangibles 78 84 (7)% 244 246 (1)% Impairment of goodwill 23 — NMF 23 34 NMF Restructuring and other charges 5 14 (64)% 15 49 (69)% Losses on sale of assets 2 — NMF 2 1 100 % Operating profit 160 191 (16)% 571 511 12 % Interest expense 46 48 (4)% 136 180 (24)% Gain on extinguishment of debt — — NMF — (488) NMF (Gains) losses on business disposals (2) — NMF (1) 111 (101)% Loss on assets classified as held for sale 236 — NMF 263 — NMF Other expense, net 14 13 8 % 47 52 (10)% (Loss) Income from continuing operations before taxes (134) 130 (203)% 126 656 (81)% (Benefit) Provision for income taxes (7) 31 (123)% 65 (61) (207)% Net (loss) income from continuing operations (127) 99 (228)% 61 717 (91)% Income (loss) from discontinued operations before tax 99 (74) (234)% 143 (1,090) (113)% Provision (benefit) for income taxes from discontinuedoperations 27 (16) (269)% 38 4 NMF Net income (loss) from discontinued operations 72 (58) (224)% 105 (1,094) (110)% Net (loss) income (55) 41 (234)% 166 (377) (144)% Net income attributable to non-controlling interests fromcontinuing operations — — NMF 1 1 — % Net income attributable to non-controlling interests fromdiscontinued operations — 1 (100)% 1 1 — % Net (loss) income attributable to IFF shareholders $ (55) $ 40 (238)% $ 164 $ (379) (143)% Net (loss) income per share - basic Continuing operations $ (0.50) $ 0.39 $ 0.24 $ 2.81 Discontinued operations 0.28 (0.23) 0.41 (4.29) Net (loss) income per share - basic $ (0.22) $ 0.16 $ 0.65 $ (1.48) Net (loss) income per share - diluted Continuing operations $ (0.50) $ 0.39 $ 0.23 $ 2.80 Discontinued operations 0.28 (0.23) 0.41 (4.28) Net (loss) income per share - diluted $ (0.22) $ 0.16 $ 0.64 $ (1.48) Average number of shares outstanding Average number of shares outstanding - basic 253 256 254 255 Average number of shares outstanding - diluted 253 257 255 256 NMF Not meaningful 6
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International Flavors & Fragrances Inc. Condensed Consolidated Balance Sheets (Amounts in millions) (Unaudited) September 30, December 31, 2026 2025 Cash and cash equivalents $ 272 $ 347 Receivables, net 1,416 1,294 Inventories 1,452 1,507 Prepaid expenses and other current assets 954 742 Current assets of discontinued operations 5,181 1,704 Total current assets 9,275 5,594 Property, plant and equipment, net 2,648 2,685 Goodwill and other intangibles, net 11,553 12,190 Other assets 1,349 1,469 Non-current assets of discontinued operations — 3,601 Total assets $ 24,825 $ 25,539 Short-term borrowings $ 1,538 $ 1,254 Other current liabilities 2,280 2,129 Current liabilities of discontinued operations 1,140 550 Total current liabilities 4,958 3,933 Long-term debt 4,735 4,738 Non-current liabilities 1,842 2,065 Non-current liabilities of discontinued operations — 617 Total Shareholders' equity including Non-controlling interests 13,290 14,186 Total liabilities and shareholders' equity $ 24,825 $ 25,539 7
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International Flavors & Fragrances Inc. Consolidated Statements of Cash Flows (Amounts in millions) (Unaudited) Nine Months Ended September 30, 2026 2025 Cash flows from operating activities: Net income (loss) $ 166 $ (377) Adjustments to reconcile to net cash provided by operating activities Depreciation and amortization 614 725 Deferred income taxes (99) (226) Loss on assets classified as held for sale 263 108 Losses on sale of assets 2 1 Losses on business disposals 6 111 Stock-based compensation 71 72 Pension contributions (14) (20) Gain on extinguishment of debt — (488) Impairment of goodwill 23 1,153 Changes in assets and liabilities, net of acquisitions: Trade receivables (291) (195) Inventories (54) (129) Accounts payable 204 28 Accruals for incentive compensation 24 (154) Other assets/liabilities, net (95) (77) Net cash provided by operating activities 820 532 Cash flows from investing activities: Additions to property, plant and equipment (449) (406) Additions to intangible assets (2) (2) Joint venture capital contributions — (4) Net proceeds received from business disposals 247 2,707 Payments to buyer for business disposals (12) — Cash (paid) received on foreign currency forward contracts (58) 131 Net cash (used in) provided by investing activities (274) 2,426 Cash flows from financing activities: Cash dividends paid to shareholders (306) (306) Net borrowings of commercial paper (maturities less than three months) 224 370 Principal payments of debt (912) (2,913) Proceeds from Delayed Draw Term Loan Facility 1,000 — Withholding tax paid on stock-based compensation (19) (23) Purchases of treasury stock (584) — Other, net (12) (19) Net cash used in financing activities (609) (2,891) Effect of exchange rate changes on cash and cash equivalents (8) 83 Net change in cash and cash equivalents (71) 150 Cash and cash equivalents at beginning of year 590 471 Cash and cash equivalents at end of period $ 519 $ 621 (1) The cash flows from discontinued operations are included in the Consolidated Statements of Cash Flows. The following table reconciles cash and cash equivalents between the Company's statement of cash flows for the periods ended September 30, 2026 and September 30, 2025 to the amounts reported on the Company's balance sheet: AMOUNTS IN MILLIONS September 30, 2026 December 31, 2025 September 30, 2025 December 31, 2024 Current assets Cash and cash equivalents $ 272 $ 347 $ 399 $ 312 Cash and cash equivalents included in Assets held forsale 5 — — 2 Cash and cash equivalents included in Current assets ofdiscontinued operations 242 243 222 157 Cash and cash equivalents $ 519 $ 590 $ 621 $ 471 (1) 8
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International Flavors & Fragrances Inc. Reportable Segment Performance (Amounts in millions) (Unaudited) Three Months Ended September 30, 2026 Taste Health &Biosciences Scent Total Net Sales $ 687 $ 566 $ 689 $ 1,942 Cost of Sales (419) (305) (392) Research & Development Expenses (46) (56) (67) Selling & Administrative Expenses (116) (105) (112) Depreciation Expense Add-back (a) 22 36 21 Adjusted Operating EBITDA $ 128 $ 136 $ 139 $ 403 Reconciliation of Adjusted Operating EBITDA: Total Adjusted Operating EBITDA $ 403 Depreciation & Amortization (156) Interest Expense (46) Other Expense, net (14) Restructuring and Other Charges (b) (5) Impairment of Goodwill (c) (23) Gains on Business Disposals (d) 2 Loss on Assets Classified as Held for Sale (e) (236) Divestiture Costs (f) (10) Strategic Initiative Costs (g) (9) Regulatory Costs (h) (34) Other (k) (6) Income Before Taxes from Continuing Operations $ (134) Segment Adjusted Operating EBITDA Margin Taste 18.6 % Health & Biosciences 24.0 % Scent 20.2 % Consolidated 20.8 % 9
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Three Months Ended September 30, 2025 Taste Health &Biosciences Scent Total Net Sales $ 658 $ 559 $ 652 $ 1,869 Cost of Sales (399) (299) (372) Research & Development Expenses (41) (57) (64) Selling & Administrative Expenses (112) (101) (107) Depreciation Expense Add-back (a) 17 32 18 Adjusted Operating EBITDA $ 123 $ 134 $ 127 $ 384 Reconciliation of Adjusted Operating EBITDA: Total Adjusted Operating EBITDA $ 384 Depreciation & Amortization (151) Interest Expense (48) Other Expense, net (13) Restructuring and Other Charges (b) (14) Divestiture Costs (f) (11) Strategic Initiative Costs (g) (10) Regulatory Costs (h) (7) Income Before Taxes from Continuing Operations $ 130 Segment Adjusted Operating EBITDA Margin Taste 18.7 % Health & Biosciences 24.0 % Scent 19.5 % Consolidated 20.5 % 10
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Nine Months Ended September 30, 2026 Taste Health &Biosciences Scent Total Net Sales $ 2,055 $ 1,742 $ 2,005 $ 5,802 Cost of Sales (1,227) (927) (1,141) Research & Development Expenses (139) (167) (187) Selling & Administrative Expenses (344) (324) (321) Depreciation Expense Add-back (a) 59 102 58 Adjusted Operating EBITDA $ 404 $ 426 $ 414 $ 1,244 Reconciliation of Adjusted Operating EBITDA Total Adjusted Operating EBITDA $ 1,244 Depreciation & Amortization (462) Interest Expense (136) Other Expense, net (47) Restructuring and Other Charges (b) (15) Impairment of Goodwill (c) (23) Gains on Business Disposals (d) 1 Loss on Assets Classified as Held for Sale (e) (263) Divestiture Costs (f) (25) Strategic Initiative Costs (g) (27) Regulatory Costs (h) (115) Entity Realignment Costs (j) (2) Other (k) (4) Income Before Taxes from Continuing Operations $ 126 Segment Adjusted Operating EBITDA Margin Taste 19.7 % Health & Biosciences 24.5 % Scent 20.6 % Consolidated 21.4 % 11
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Nine Months Ended September 30, 2025 Taste Health &Biosciences Scent PharmaSolutions Total Net Sales $ 1,962 $ 1,638 $ 1,869 $ 369 $ 5,838 Cost of Sales (1,190) (875) (1,051) (248) Research & Development Expenses (131) (163) (184) (8) Selling & Administrative Expenses (321) (294) (298) (42) Depreciation Expense Add-back (a) 49 90 50 5 Adjusted Operating EBITDA $ 369 $ 396 $ 386 $ 76 $ 1,227 Reconciliation of Adjusted Operating EBITDA: Total Adjusted Operating EBITDA $ 1,227 Depreciation & Amortization (439) Interest Expense (180) Other Expense, net (52) Restructuring and Other Charges (b) (49) Impairment of Goodwill (c) (34) Losses on Business Disposals (d) (111) Divestiture Costs (f) (88) Strategic Initiative Costs (g) (24) Regulatory Costs (h) (71) Gain on Debt Extinguishment (i) 488 Entity Realignment Costs (j) (5) Other (k) (6) Income Before Taxes from Continuing Operations $ 656 Segment Adjusted Operating EBITDA Margin Taste 18.8 % Health & Biosciences 24.2 % Scent 20.7 % Pharma Solutions 20.6 % Consolidated 21.0 % 12
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(a) There is depreciation recorded within cost of sales, research & development expenses, and selling & administrative expenses, whichis then added back to calculate segment Adjusted Operating EBITDA. This reflects how the CODM reviews Segment results. (b) For 2026 and 2025, represents costs primarily related to severance as part of the IFF Productivity Program. (c) For 2026, represents the impairment of goodwill attributable to the Botanicals & Food Enhancements disposal group. For 2025,represents the impairment of goodwill attributable to the portion of the Food Ingredients reporting unit that is not included within theFood Ingredients or SCL disposal groups. (d) For 2026, primarily represents gains recognized as part of final settlement adjustments related to the divestiture of the Nitrocellulosebusiness. For 2025, primarily represents losses recognized as part of the sale of the Pharma Solutions disposal group, offset in partby gains recognized on the sale of the Nitrocellulose business. (e) For 2026, represents the loss on assets classified as held for sale related to the Botanicals & Food Enhancements disposal groupand the CitraSource business. (f) For 2026 and 2025, primarily represents costs related to the Company’s completed and anticipated divestitures, excluding externalcosts related to the planned divestiture of the Food Ingredients disposal group and the completed divestiture of the SCL disposalgroup. These costs primarily consisted of external consulting fees, professional and legal fees and salaries of individuals who arefully dedicated to such efforts. (g) Represents costs related to the Company’s strategic assessment and business portfolio optimization efforts and reorganizing theGlobal Business Services (GBS) Centers. In 2026, the GBS reorganization has been expanded to include additional functions suchas customer service, supply chain and logistics in addition to human resources, accounting and finance, as well as additional effortsto automate processes and expand the use of artificial intelligence (AI) for these functions. These costs primarily consisted ofexternal consulting fees and salaries of individuals who are fully dedicated to such efforts. Costs to develop software and AI are onlyincluded to the extent that they do not qualify for capitalization. (h) For 2026 and 2025, represents costs primarily related to provisions recognized for the ongoing investigations of the fragrancebusinesses and legal fees incurred. (i) For 2025, represents the gain recognized on the extinguishment of debt in connection with the completion of the tender offers. (j) For 2026 and 2025, primarily represents consulting costs related to the Company’s implementation of a phased restructuring initiativeaimed at optimizing its legal entity framework. (k) For 2026 and 2025, primarily represents the net impact of costs related to severance for certain executives who have separated fromthe Company. For 2026, also represents losses recognized upon the sale of fixed assets. 13
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International Flavors & Fragrances Inc.GAAP to Non-GAAP Reconciliation(Unaudited) The following information and schedules provide reconciliation information between reported GAAP amounts and non-GAAP certain adjusted amounts. This information and schedules are not intended as, and should not be viewed as, a substitute for reported GAAP amounts or financial statements of the Company prepared and presented in accordance with GAAP. For the three months ended September 30, 2026 and 2025, there was no difference between Reported (GAAP) and Adjusted (Non-GAAP) gross profit. Reconciliation of Selling and Administrative Expenses Third Quarter (DOLLARS IN MILLIONS) 2026 2025 Reported (GAAP) $ 387 $ 348 Divestiture Costs (c) (10) (11) Strategic Initiatives Costs (f) (9) (9) Regulatory Costs (g) (34) (6) Other (i) (3) (2) Adjusted (Non-GAAP) $ 331 $ 320 1 14
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International Flavors & Fragrances Inc. GAAP to Non-GAAP Reconciliation (Unaudited) The following information and schedules provide reconciliation information between reported GAAP amounts and non-GAAP certain adjusted amounts. This information and schedules are not intended as, and should not be viewed as, a substitute for reported GAAP amounts or financial statements of the Company prepared and presented in accordance with GAAP. Reconciliation of Net Income (Loss) and EPS from Continuing Operations Third Quarter 2026 2025 (DOLLARS IN MILLIONS EXCEPT PERSHARE AMOUNTS) Incomebeforetaxes (Benefit)Provision forincome taxes(j) Net incomeattributable toIFF DilutedEPS Incomebeforetaxes (Benefit)Provision forincome taxes(j) Net incomeattributable toIFF DilutedEPS Reported (GAAP) $ (134) $ (7) $ (127) $ (0.50) $ 130 $ 31 $ 99 $ 0.39 Restructuring and Other Charges (a) 5 1 4 0.01 14 3 11 0.04 Impairment of goodwill (b) 23 — 23 0.09 — — — — Divestiture Costs (c) 10 3 7 0.02 11 3 8 0.03 Gains on Business Disposals (d) (2) (1) (1) — — (1) 1 — Losses on Assets Classified as Held forSale (e) 236 48 188 0.73 — — — — Strategic Initiative Costs (f) 9 2 7 0.03 10 2 8 0.03 Regulatory Costs (g) 34 1 33 0.13 7 2 5 0.02 Entity Realignment Costs (h) — (12) 12 0.05 — — — — Other (i) 6 — 6 0.02 — 1 (1) — Adjusted (Non-GAAP) $ 187 $ 35 $ 152 $ 0.58 $ 172 $ 41 $ 131 $ 0.51 Reconciliation of Adjusted (Non-GAAP) EPS ex. Amortization Third Quarter (DOLLARS AND SHARE AMOUNTS IN MILLIONS) 2026 2025 Numerator Adjusted (Non-GAAP) Net Income $ 152 $ 131 Amortization of Acquisition related Intangible Assets 78 84 Tax impact on Amortization of Acquisition related Intangible Assets (j) 19 20 Amortization of Acquisition related Intangible Assets, net of tax (k) 59 64 Adjusted (Non-GAAP) Net Income ex. Amortization $ 211 $ 195 Denominator Weighted average shares assuming dilution (diluted) 254 257 Adjusted (Non-GAAP) EPS ex. Amortization $ 0.83 $ 0.76 1 1 15
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(a) For 2026 and 2025, represents costs primarily related to severance as part of the IFF Productivity Program. (b) For 2026, represents the impairment of goodwill attributable to the Botanicals & Food Enhancements disposal group. (c) For 2026 and 2025, primarily represents costs related to the Company’s completed and anticipated divestitures, excluding externalcosts related to the planned divestiture of the Food Ingredients disposal group and the completed divestiture of the SCL disposalgroup. These costs primarily consisted of external consulting fees, professional and legal fees and salaries of individuals who arefully dedicated to such efforts. (d) For 2026, primarily represents gains recognized as part of final settlement adjustments related to the divestiture of the Nitrocellulosebusiness in 2025. For 2025, primarily represents losses recognized as part of the sale of the Pharma Solutions disposal group, offsetin part by gains recognized as part of the sale of the Nitrocellulose business. (e) For 2026, represents the loss on assets classified as held for sale related to the Botanicals & Food Enhancements disposal group. (f) Represents costs related to the Company’s strategic assessment and business portfolio optimization efforts and reorganizing theGlobal Business Services (GBS) Centers. In 2026, the GBS reorganization has been expanded to include additional functions suchas customer service, supply chain and logistics in addition to human resources, accounting and finance, as well as additional effortsto automate processes and expand the use of artificial intelligence (AI) for these functions. These costs primarily consisted ofexternal consulting fees and salaries of individuals who are fully dedicated to such efforts. Costs to develop software and AI are onlyincluded to the extent that they do not qualify for capitalization. (g) For 2026 and 2025, represents costs primarily related to legal fees incurred and provisions recognized for the ongoing investigationsof the fragrance businesses. (h) In 2025, the Company implemented a phased restructuring initiative aimed at optimizing its legal entity framework and recognized aone-time tax benefit. In 2026, the Company updated the tax benefit previously recorded. (i) For 2026, represents the net impact of costs related to severance for certain executives who have separated from the Company, andlosses recognized upon the sale of fixed assets. (j) The income tax effects of non-GAAP adjustments are calculated based on the applicable statutory tax rate for the relevantjurisdiction, except for those items which are non-taxable or subject to valuation allowances for which the tax expense (benefit) wascalculated at 0%. The tax benefit for amortization is calculated in a similar manner as the tax effects of the non-GAAP adjustments. (k) Represents all amortization of intangible assets acquired in connection with acquisitions, net of tax. 16
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International Flavors & Fragrances Inc. GAAP to Non-GAAP Reconciliation (Unaudited) The following information and schedules provide reconciliation information between reported GAAP amounts and non-GAAP certain adjusted amounts. This information and schedules are not intended as, and should not be viewed as, a substitute for reported GAAP amounts or financial statements of the Company prepared and presented in accordance with GAAP. For the nine months ended September 30, 2026 and 2025, there was no difference between Reported (GAAP) and Adjusted (Non-GAAP) gross profit. Reconciliation of Selling and Administrative Expenses Third Quarter Year-to-Date (DOLLARS IN MILLIONS) 2026 2025 Reported (GAAP) $ 1,158 $ 1,147 Divestiture Costs (c) (25) (88) Strategic Initiatives Costs (f) (27) (23) Regulatory Costs (g) (115) (70) Entity Realignment Costs (i) (2) (5) Other (j) (2) (6) Adjusted (Non-GAAP) $ 987 $ 955 1 17
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International Flavors & Fragrances Inc. GAAP to Non-GAAP Reconciliation (Unaudited) The following information and schedules provide reconciliation information between reported GAAP amounts and non-GAAP certain adjusted amounts. This information and schedules are not intended as, and should not be viewed as, a substitute for reported GAAP amounts or financial statements of the Company prepared and presented in accordance with GAAP. Reconciliation of Net Income (Loss) and EPS from Continuing Operations Third Quarter Year-to-Date 2026 2025 (DOLLARS IN MILLIONS EXCEPT PERSHARE AMOUNTS) Incomebeforetaxes Provision(Benefit) forincometaxes (k) Net incomeattributable toIFF (l) DilutedEPS Incomebeforetaxes Provision(Benefit) forincometaxes (k) Net incomeattributable toIFF (l) DilutedEPS Reported (GAAP) $ 126 $ 65 $ 60 $ 0.23 $ 656 $ (61) $ 716 $ 2.80 Restructuring and Other Charges (a) 15 4 11 0.04 49 11 38 0.15 Impairment of Goodwill (b) 23 — 23 0.09 34 — 34 0.13 Divestiture Costs (c) 25 5 20 0.08 88 37 51 0.20 (Gains) losses on Business Disposals (d) (1) (1) — — 111 (138) 249 0.97 Losses on Assets Classified as Held forSale (e) 263 52 211 0.82 — — — — Strategic Initiative Costs (f) 27 6 21 0.08 24 5 19 0.07 Regulatory Costs (g) 115 4 111 0.43 71 17 54 0.21 Gain on debt extinguishment (h) — — — — (488) (116) (372) (1.45) Entity Realignment Costs (i) 2 (11) 13 0.05 5 361 (356) (1.40) Other (j) 4 — 4 0.02 6 1 5 0.02 Adjusted (Non-GAAP) $ 599 $ 124 $ 474 $ 1.84 $ 556 $ 117 $ 438 $ 1.70 Reconciliation of Adjusted (Non-GAAP) EPS ex. Amortization Third Quarter Year-to-Date (DOLLARS AND SHARE AMOUNTS IN MILLIONS) 2026 2025 Numerator Adjusted (Non-GAAP) Net Income $ 474 $ 438 Amortization of Acquisition related Intangible Assets 244 246 Tax impact on Amortization of Acquisition related Intangible Assets (k) 60 60 Amortization of Acquisition related Intangible Assets, net of tax (m) 184 186 Adjusted (Non-GAAP) Net Income ex. Amortization $ 658 $ 624 Denominator Weighted average shares assuming dilution (diluted) 255 255 Adjusted (Non-GAAP) EPS ex. Amortization $ 2.58 $ 2.45 1 1 18
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(a) For 2026 and 2025, represents costs primarily related to severance as part of the IFF Productivity Program. (b) For 2026, represents the impairment of goodwill attributable to the Botanicals & Food Enhancements disposal group. For 2025,represents the impairment of goodwill related to the Food Ingredients reporting unit that is not included in the Food Ingredients orSCL disposal groups. (c) For 2026 and 2025, primarily represents costs related to the Company’s completed and anticipated divestitures, excluding externalcosts related to the planned divestiture of the Food Ingredients disposal group and the completed divestiture of the SCL disposalgroup. These costs primarily consisted of external consulting fees, professional and legal fees and salaries of individuals who arefully dedicated to such efforts. (d) For 2026, primarily represents gains recognized as part of final settlement adjustments related to the divestiture of the Nitrocellulosebusiness in 2025. For 2025, primarily represents losses recognized as part of the sale of the Pharma Solutions disposal group,offset in part by gains recognized as part of the sale of the Nitrocellulose business. (e) For 2026, represents the loss on assets classified as held for sale related to the CitraSource business and the Botanicals & FoodEnhancements disposal group. (f) Represents costs related to the Company’s strategic assessment and business portfolio optimization efforts and reorganizing theGlobal Business Services (GBS) Centers. In 2026, the GBS reorganization has been expanded to include additional functions suchas customer service, supply chain and logistics in addition to human resources, accounting and finance, as well as additional effortsto automate processes and expand the use of artificial intelligence (AI) for these functions. These costs primarily consisted ofexternal consulting fees and salaries of individuals who are fully dedicated to such efforts. Costs to develop software and AI are onlyincluded to the extent that they do not qualify for capitalization. (g) For 2026 and 2025, represents costs primarily related to legal fees incurred and provisions recognized for the ongoing investigationsof the fragrance businesses. (h) For 2025, represents the gain recognized on the extinguishment of debt in connection with the completion of the tender offers. (i) In 2025, the Company implemented a phased restructuring initiative aimed at optimizing its legal entity framework and recognized aone-time tax benefit. In 2026, the Company updated the tax benefit previously recorded. (j) For 2026 and 2025, primarily represents the net impact of costs related to severance for certain executives who have separatedfrom the Company. For 2026, also represents losses recognized upon the sale of fixed assets. (k) The income tax effects of non-GAAP adjustments are calculated based on the applicable statutory tax rate for the relevantjurisdiction, except for those items which are non-taxable or subject to valuation allowances for which the tax expense (benefit) wascalculated at 0%. The tax benefit for amortization is calculated in a similar manner as the tax effects of the non-GAAP adjustments. (l) For each of the nine months ended September 30, 2026 and September 30, 2025, reported and adjusted net income fromcontinuing operations are each decreased by income attributable to non-controlling interest from continuing operations of $1 million. (m) Represents all amortization of intangible assets acquired in connection with acquisitions, net of tax. 19
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International Flavors & Fragrances Inc. Debt Covenants (Amounts in millions) (Unaudited) The following information and schedules provide reconciliation information between reported GAAP amounts and non-GAAP certain adjusted amounts. This information and schedules are not intended as, and should not be viewed as, a substitute for reported GAAP amounts or financial statements of the Company prepared and presented in accordance with GAAP. Reconciliation of Credit Adjusted EBITDA to Net Income (DOLLARS IN MILLIONS) Twelve Months EndedSeptember 30, 2026 Net income $ 183 Interest expense 185 Income taxes 107 Depreciation and amortization 851 Specified items 420 Non-cash items 357 Credit Adjusted EBITDA $ 2,103 _______________________ (1) Credit Adjusted EBITDA presented includes results from continuing and discontinued operations. (2) Specified items consisted of restructuring and other charges, impairment of goodwill, divestiture costs, strategic initiatives costs, regulatory costs, and other costs that are not related to recurring operations. (3) Non-cash items consisted of losses (gains) on business disposals, loss on assets classified as held for sale, and stock-based compensation. Reconciliation of Net Debt to Total Debt (DOLLARS IN MILLIONS) September 30, 2026 Total debt $ 6,307 Adjustments: Cash and cash equivalents 519 Net debt $ 5,788 _______________________ (1) Total debt used for the calculation of net debt consisted of short-term debt, long-term debt, short-term finance lease obligations and long-term finance lease obligations. (1) (2) (3) (1) 20
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International Flavors & Fragrances Inc. Comparable Currency Neutral Segment Performance (Amounts in millions) (Unaudited) The following information and schedule provides reconciliation information between reported GAAP amounts and non-GAAP certain adjusted amounts. This information and schedule is not intended as, and should not be viewed as, a substitute for reported GAAP amounts or financial statements of the Company prepared and presented in accordance with GAAP. Three Months Ended September 30,Nine Months Ended September 30, 2026 2025 2026 2025 Net Sales Taste $ 691 $ 654 $ 2,028 $ 1,948 Health & Biosciences 566 559 1,700 1,638 Scent 691 650 1,963 1,867 Pharma Solutions — — — — Consolidated $ 1,948 $ 1,863 $ 5,691 $ 5,453 Segment Adjusted Operating EBITDA Taste $ 130 $ 122 $ 398 $ 358 Health & Biosciences 136 134 413 390 Scent 138 125 396 378 Pharma Solutions — — — — Total 404 381 1,207 1,126 Depreciation & Amortization (156) (151) (462) (439) Interest Expense (46) (48) (136) (180) Other Expense, net (14) (13) (47) (52) Restructuring and Other Charges (5) (14) (15) (49) Impairment of Goodwill (23) — (23) (34) Gains (Losses) on Business Disposals 2 — 1 (111) Loss on Assets Classified as Held for Sale (236) — (263) — Divestiture Costs (10) (11) (25) (88) Strategic Initiative Costs (9) (10) (27) (24) Regulatory Costs (34) (7) (115) (71) Gain on Debt Extinguishment — — — 488 Entity Realignment Costs — — (2) (5) Other (6) — (4) (6) Impact of Currency Fluctuations (1) — 37 — Impact of Business Divestitures — 3 — 101 Income from continuing operations before taxes$ (134) $ 130 $ 126 $ 656 Segment Adjusted Operating EBITDA Margin Taste 18.8 % 18.7 % 19.6 % 18.4 % Health & Biosciences 24.0 % 24.0 % 24.3 % 23.8 % Scent 20.0 % 19.2 % 20.2 % 20.2 % Consolidated 20.7 % 20.5 % 21.2 % 20.6 % ______________________ (1) Taste sales and segment adjusted operating EBITDA information exclude the results of the Rene Laurent business that was divested on December 1, 2025, to present fully comparable scenarios. (2) Scent sales and segment adjusted operating EBITDA information exclude the results of the CitraSource business that was divested on July 1, 2026, to present fully comparable scenarios. (3) Pharma sales and segment adjusted operating EBITDA information exclude the results of the Pharma Solutions disposal group and Nitrocellulose business that were divested on May 1, 2025 and May 9, 2025, respectively, to present fully comparable scenarios. (1) (2) (3) (6) (1) (2) (3) (4) (5) (5) 21
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(4) Currency neutral sales are calculated by translating current year invoiced sale amounts at the exchange rates for the corresponding prior year period. (5) Amounts exclude the results of the Rene Laurent business that was divested on December 1, 2025, the CitraSource business that was divested on July 1, 2026, and the Pharma Solutions disposal group and Nitrocellulose business that were divested on May 1, 2025 and May 9, 2025, respectively, to present fully comparable scenarios. (6) Following the completed divestitures of the Pharma Solutions disposal group on May 1, 2025 and the Nitrocellulose business on May 9, 2025, the Company reallocated certain corporate costs previously attributed to the Pharma Solutions segment. These costs have been redistributed across the Taste, Health & Biosciences, and Scent segments to align with the updated 2025 operating model. Nine Months Ended September 30, 2025 Selling & AdministrativeExpenses Total EBITDA Impact Taste $ 6 $ (6) Health & Biosciences 6 (6) Scent 6 (6) Total $ 18 $ (18) 22
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International Flavors & Fragrances Inc. GAAP to Non-GAAP Reconciliation Comparable Foreign Exchange Impact (Unaudited) Q3 Taste Sales Segment AdjustedOperating EBITDASegment Adjusted OperatingEBITDA Margin % Change - Reported 4% 4% (0.1)% Portfolio Impact 1% 1% 0.0% % Change - Comparable 5% 5% (0.1)% Currency Impact 1% 2% 0.2% % Change - Currency Neutral 6% 7% 0.1% Q3 Health & Biosciences Sales Segment AdjustedOperating EBITDASegment Adjusted OperatingEBITDA Margin % Change - Reported 1% 1% 0.0% Portfolio Impact 0% 1% 0.1% % Change - Comparable 1% 2% 0.1% Currency Impact 0% 0% 0.0% % Change - Currency Neutral 1% 2% 0.1% Q3 Scent Sales Segment AdjustedOperating EBITDASegment Adjusted OperatingEBITDA Margin % Change - Reported 6% 9% 0.7% Portfolio Impact 0% 2% 0.3% % Change - Comparable 6% 11% 1.0% Currency Impact 0% (1)% (0.2)% % Change - Currency Neutral 6% 10% 0.8% Q3 Consolidated Sales Adjusted OperatingEBITDA Adjusted Operating EBITDAMargin % Change - Reported 4% 5% 0.3% Portfolio Impact 0% 1% 0.0% % Change - Comparable 4% 6% 0.3% Currency Impact 1% 0% (0.1)% % Change - Currency Neutral 5% 6% 0.2% _______________________ Note: The sum of these items may not foot due to rounding. 23
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International Flavors & Fragrances Inc. GAAP to Non-GAAP Reconciliation Comparable Foreign Exchange Impact (Unaudited) YTD Taste Sales Segment AdjustedOperating EBITDASegment Adjusted OperatingEBITDA Margin % Change - Reported 5% 9% 0.9% Portfolio Impact 0% 4% 0.4% % Change - Comparable 5% 13% 1.3% Currency Impact (1)% (2)% (0.1)% % Change - Currency Neutral 4% 11% 1.2% YTD Health & Biosciences Sales Segment AdjustedOperating EBITDASegment Adjusted OperatingEBITDA Margin % Change - Reported 6% 8% 0.3% Portfolio Impact 0% 1% 0.4% % Change - Comparable 6% 9% 0.7% Currency Impact (2)% (3)% (0.2)% % Change - Currency Neutral 4% 6% 0.5% YTD Scent Sales Segment AdjustedOperating EBITDASegment Adjusted OperatingEBITDA Margin % Change - Reported 7% 7% (0.1)% Portfolio Impact 0% 3% 0.5% % Change - Comparable 7% 10% 0.4% Currency Impact (2)% (5)% (0.4)% % Change - Currency Neutral 5% 5% 0.0% YTD Consolidated Sales Adjusted OperatingEBITDA Adjusted Operating EBITDAMargin % Change - Reported (1)% 1% 0.4% Portfolio Impact 7% 9% 0.3% % Change - Comparable 6% 10% 0.7% Currency Impact (2)% (3)% (0.2)% % Change - Currency Neutral 4% 7% 0.5% _______________________ Note: The sum of these items may not foot due to rounding. 24