Frutarom Q2 & H1 Results August 2014 Frutarom - A Leading Fast Growing Global Flavor and Fine Ingredient House

Broad product Financial success Global company Public company portfolio since 2000

•Sales in 145 •31,000 products •9.8x growth in sales •Listed on London countries •4,000 raw (CAGR 19.2%) & TLV Stock •15,500 customers materials •14.9x growth in Exchanges • A Top 10 flavor •Innovative EBITDA •From $13M to house pipeline •17.7x growth in net approx. $1.45B profit market cap

Renenue, $M 1000 792 800 618 518 600 425 400 287 197 200 81 108 10 0

*Pro-forma basis - had the acquisitions made in 2013 and the beginning of 2014 been consolidated starting from January 1, 2013 3 Frutarom - A Global Company We provide our customers with global and local support

Norway Denmark Saint Petersburg Belarus Moscow Novosibirsk UK North Poland Perm UK South Belgium Slovakia Saratov Serbia Moldova France Cincinnati, OH Switzerland Slovenia Corona, CA New Jersey Italy China Georgia Florida Mexico India Hong Kong Guatemala

Costa Rica Singapore Indonesia

Brazil

Production – 34 Sites South Africa R&D – 41 Labs Sales & Marketing – 79 Offices Frutarom - A Profitable Growth Story (Sales, EBITDA, Net Profit, USD M) 792* 618

518 JannDeRee Etol 425 Sales 287 2000-2013 Czech Rep. Mylner134* PTI 197 S. Africa Rad X9.8 108 London Acatris Costa100 Rica Savoury AROMA stock CH Hansen Flavours 81 France DE Mexico EBITDAexchange Profit Gewurzmulle 10 2000-2013 r Kazakhstan FSI OH Heglin Ukraine IFF FS FSI80 Corona Canada X14.9 Abaco HK F&F Poland 1996 Tel Nesse Russia Rayner Aromco Aviv stock Net Profit 66 Oxford 71* exchange 2000-2013 Flachsmann Adumim Tohar AM Todd CH Hansen Turkey Hong Kong 52IT X17.7 49 Raychan Flavour key 42 EAFI Brazil CPL Aroma 32 33 30 Jupiter Baltimore Meer Rieber India 18 Botanicare 14 Balmey Kunshan 9 4 6

1990 2000 2002 2004 2006 2009 2011 2012 2013

*Pro-forma basis - had the acquisitions made in 2013 and the beginning of 2014 been consolidated starting from January 1, 2013 5 Frutarom Presents Strong Q2 for 2014

80.0 250.0

NET EBITDA SALES Revenues 70.0 ($M) (EBITDA Margin) 218.1 Reached $218 M 200.0 60.0 Revenues grew 29.3% 168.6 Growth 6.2% YoY Pro-forma growth1 50.0 (19.9%) 43.4 150.0 130.6 40.0 Over $ 85 M (19.3%) Gross 106.7 32.5 41.6% gross margin in core activities 100.0 Profit 30.0 91.7 (17.0%) 25.5 22.2 (16.3%) Reached $43.4 M , 19.9% EBITDA margin 20.0 17.4 17.6 (12.9%) EBITDA 11.8 12.3 50.0 21.6% EBITDA margin in core activities 10.1 10.0 5.9 Over $25M - - Net Profit 11.7% net margin Q2/07 Q2/09 Q2/11 Q2/13 Q2/14 Results driven by: • Organic growth above average market growth rates • Successful integration of the acquisitions made in 2011-2012 • Improved product mix • New acquisitions already contributing to revenues – Successful implementation is expected to improve margins

1Pro- forma growth - assuming acquisitions performed in 2013 had been consolidated as of January 1, 2013 and that CitraSource, which was acquired during the first 6 quarter of 2014, had been consolidated as of March 1, 2013 Constantly Improving Core Business Margins & Profits

Q2 Gross Profit Q2 EBITDA

($M, Core business) ($M, Core business) 21.6% 41.6% 20.0% Margin 38.5% 41.0% Margin 17.8%

42.6 32.3 61.1 66.3 82.1 28.3

Q2 2012 Q2 2013 Q2 2014 Q2 2012 Q2 2013 Q2 2014

Major contributors to growth in Profit & Profitability : • Organic growth • Successful Integration of acquisitions made in 2011-12 • Recent acquisitions • Exploiting operational efficiencies • Improved product mix 7 Frutarom Presents Strong First Half for 2014

450.0 NET EBITDA SALES ($M) (EBITDA Margin) 406.5 400.0 Revenues Reached $406 M

350.0

320.8 300.0 Growth Revenues grew 26.7% 4.6% YoY Pro-forma growth1 251.6 250.0 Gross Reached $159.4 M 205.1 (18.6%) 200.0 Profit 75.5 41.3% gross margin in core activities 172.2 (18.2%)

58.3 150.0 (17.4%) Over $ 75 M, 18.6% EBITDA margin (15.5%) 43.7 43.8 EBITDA (14.6%) 100.0 20.1% EBITDA margin in core activities 31.9 31.6 25.1 25.4 13.5 15.7 50.0 Reached $43.8 M Net Profit 10.8% net margin - H1 2007 H1 2009 H1 2011 H1 2013 H1 2014

1Pro- forma growth - assuming acquisitions performed in 2013 had been consolidated as of January 1, 2013 and that CitraSource, which was acquired during the first 8 quarter of 2014, had been consolidated as of March 1, 2013 Constantly Improving Core Business Margins & Profits

H1 Gross Profit H1 EBITDA

($M, Core business) ($M, Core business) 20.1% 41.3% 18.8% 37.9% 39.8% 17.4% Margin Margin

152.8 57.9 74.3 115.2 122.7 52.9

H1 2012 H1 2013 H1 2014 H1 2012 H1 2013 H1 2014

Major contributors to growth in Profit & Profitability : • Organic growth • Successful Integration of acquisitions made in 2011-12 • Recent acquisitions • Exploiting operational efficiencies • Improved product mix

9 Profitable Growth Generates Solid Balance Sheet & Cash Flow from Operations

Cumulative Cash Flow

($M) 392 • $ 392 M - Cumulative cash flow since 362 2009 to end of H1 2014 274 Balance Sheet • Net debt (30.06.14) - USD 188M 183 • Equity (30.06.2014) - USD 557 M 147 • Net Debt/EBITDA – consistently below 2x 85

2009 2010 2011 2012 2013 2014 H1

10 From Vision to Reality Strategic Milestones Accomplished

Accelerating Growth Expanding Market Constantly improving Supply Chain In Emerging Markets. Share In The US. product mix. Optimization. Fastest growing World’s biggest flavor Towards more Supported also by markets market profitable segments acquisitions

Accelerated Profitable Growth Sales Grew From $10M at 1990 to $792M at 2013* EBITDA Grew From $1M at 1990 to $134M at 2013* Solid Cash Flow 11 *Pro-forma basis - had the acquisitions made in 2013 and the beginning of 2014 been consolidated starting from January 1, 2013 Accelerated Growth and Market Share in Emerging Markets

Asia Central and Eastern Europe

• Expanded R&D and sales force in China, • Acquired Etol in Slovenia and PTI in Russia Indonesia, Philippines, Thailand, Vietnam, Sri • Lanka One of the only global players with major production sites in Russia • Setting up flavor operation in India • Market leadership in Central and East Europe • Building a state-of-the-art plant in China with • both savory and sweet flavors capabilities Cross selling and optimization opportunities • Evaluating strategic acquisition opportunities

Central & South America Africa

• Acquired Mylner in Brazil and Aroma in • Fast growing operation in South Africa, Guatemala reinforced by JannDeRee acquisition • Set up an independent operation in Costa Rica • Enhanced R&D and sales force in fast growing and Mexico markets (Kenya, Nigeria and others) • Evaluating strategic acquisition opportunities • Building state-of-the-art manufacturing facility

12 Expanding Flavors’ Market Share in the US

USA

Strengthening foothold through the Fast, above market acquisitions of Hagelin & CitraSource Fortifying US rate, internal growth presence through 2 • Lucrative beverage market Focus on the US as a strategic acquisitions • Diversified customer base key strategic market • Technological know how • Strong position in Florida’s • Flavor Specialties in the Citrus Hub West Coast in 2009 • Flavor Solutions in Cincinnati in 2011 Growing Share of Emerging Markets and the USA

Sales by Geography Growth Rate

792*

79 (10%)

618 86 (11%)

68 (11%)

66 (11%) 451 272 (34%) 60 (13%) 41 (9%) 196% growth in 262 (42%) 100% growth 31% growth the emerging inin USA**the BRIC 229 (51%) countries* markets** 355 (45%)

222 (36%) 122 (27%)

2010 2012 2013 Proforma*

Emerging Markets Western Europe USA ROW

*Pro-forma basis - had the acquisitions made in 2013 and the beginning of 2014 been consolidated starting from January 1, 2013 ** 2013 on Pro-forma basis vs. 2010 14 Growing the Core Business Taste Solutions Fine Ingredients ~72%* of sales ~19%* of sales

• Unique, high quality creation of sweet • Specialty botanical extracts, distillates, and savory flavors for food and beverage essential oils and aroma chemicals products • Innovative, science-based health • Expertise in local and global tastes ingredients for phyto-pharmaceuticals, • Operational flexibility and local global nutraceuticals, dietary supplements, supply chain functional foods, cosmetics, and personal • Value-added functional savory solutions care for the food industry (snacks, meat, fish, • Supporting the growing demand for organic, and culinary segments) health, wellness and beauty • Comprehensive sweet and savory food systems • Unique technologies for fruit, spice, vegetable, meat and fish preparations

Trade & Marketing, ~9%* of sales Strengthening Frutarom’s partnership and offering to customers 15 *Pro-forma basis - had the acquisitions made in 2013 and the beginning of 2014 been consolidated starting from January 1, 2013 Taste Solutions Fine Ingredients

We share the…

Passion for Taste & Health

We develop tailored solutions combining excellent taste with health and functionality all under one roof 16 Flavors - Most Profitable Activity Growing Fast

Q2 2014 H1 2014 (US$ M) (US$ M) 18.5% 16.3% Operating Operating margin 15.4% 156.7 margin 14.3% 290.9 14.7% 13.8% 122.5 125.1 231.4 235.7

92.7 172.9 75.8 143.1 49.5 94.2

6.6 11.9 13.4 22.7

2000 2002 2006 2009 2011 2012 2013 2014 2000 2002 2006 2009 2011 2012 2013 2014 % of total sales 32% 72%

• Above average market growth rates • Increasing market share in Emerging Markets - Latin America, Asia, Central and Eastern Europe, Africa • North America flavor sales grew by X5.5 times since 2010* 17 * based on sales in 1H 2014 compared with 1H 2010

Fine Ingredients – Improved profitability

Operating Profit Improvement was driven by (% Operating Profit)

13.1% • Enhanced product mix 13.0% • Focus on Natural high 9.6% added value fine ingredients • New innovative H1 2012 H1 2013 H1 2014 products successfully launched

14.7%

18 Frutarom’s Strategy: Clear Focus Going Forward Profitable Internal Growth

 Mid-sized and local Customer Focus  Private label  Multinational

 Developed markets (Europe and USA) Market  Emerging markets (e.g. Asia, Central & South America, Central Focus and Eastern Europe, Africa)  Natural (extracts, fruit bases specialty essential oils)  Natural functional food ingredients Product Portfolio  Comprehensive, integrated solutions  Cost reduction solutions  R&D and innovation – internal and external Core  Efficiencies, scale and synergies – cross selling Competencies  Experienced global management  Sales-driven organization 19 Proven Acquisition Track Record

 37 successful acquisitions  Strict acquisition criteria:

 Highly valuable and experienced employees

 Major synergies and cross-selling potential

 Additional unique products and technology

 Positive impact on EPS  Focus on integration execution

 Optimization of cross selling opportunities

 Optimization and harmonization of resources 2013 & 2014: 5 Acquisitions in Emerging Markets and the US

JannDeRee PTI Aroma Hagelin CitraSource South Africa Russia & CIS Guatemala USA USA

• Strengthening • Strengthening • Strengthening • Strengthening • Strengthening market position Leadership in market position market position Citrus capabilities in South Africa East Europe in Central in the US & EM and leadership and Africa. • Savory Solutions America. • Expertise in • Presence in • Complementary leadership beverages Florida – world Savory activity center for citrus

 Strong management, R&D, sales and operational force.  Leverage operational efficiencies.  Opportunities for additional rationalization plans and improved margins. Continued implementation of rapid profitable growth strategy 21 Ongoing Projects for Resource Optimization Leveraging economy of scale

Sourcing & Sales & R&D Production Logistics Purchasing Marketing

Rationalizing Global Purchasing Production sites Global Logistics Sales force Global R&D at countries of integration integration integration Resources - CPM origin

• Capitalizing on the operational synergies created by the 5 acquisitions completed since May 2013; • Other projects for optimization and margin improvement under way; • Building and strengthening the global purchasing organization; Frutarom’s Strategy

Proven Above-Industry Margin Acquisition Organic Growth Expansion Track Record

Continue successful strategy of combining rapid profitable organic growth with strategic acquisitions

Reaching revenues of $1 billion

Achieving 20% EBITDA in our core business , given the

current product mix 23 Positive Outlook for 2014/5

(EPS)  Profitable internal growth 1.60 1.6Market Cap ($ B)  Focus on innovative natural healthy 1.40 1.4EPS ($) product mix 1.20 1.2  Successful integration of the recent 1.00 1.0 acquisitions 0.80 0.8

0.60 0.6  Additional projects to improve efficiency and merge activities and operations 0.40 0.4 0.20 0.2

 Strengthening & leveraging global 0.00 0.0 purchasing

 Strong acquisitions pipeline * EPS LTM June 2014, Market Cap 30 June, 2014

24 Frutarom’s Vision

To Be The Preferred Partner For Tasty And Healthy Success

25