Exhibit 99.1
Baird Conference November 12, 2020
2 sensient.com FORWARD-LOOKING STATEMENTS This document contains statements that may constitute “forward-looking statements” within the meaning of Federal securities laws
including under “2020 Outlook” in this presentation. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, and other factors concerning the Company’s operations and business
environment. Important factors that could cause actual results to differ materially from those suggested by these forward-looking statements and that could adversely affect the Company’s future financial performance include the following: the
impact and uncertainty created by the ongoing COVID-19 pandemic, including, but not limited to, its effects on our employees, facilities, customers and suppliers, the availability and cost of raw materials and other supplies, logistics and
transportation, governmental regulations and restrictions, and general economic conditions; the pace and nature of new product introductions by the Company and the Company’s customers; the Company’s ability to anticipate and respond to changing
consumer preferences and changing technologies; the Company’s ability to successfully implement its growth strategies; the outcome of the Company’s various productivity-improvement and cost-reduction efforts and acquisition and divestiture
activities; the success of the Company’s efforts to explore strategic alternatives for certain non-core product lines; the effectiveness of the Company’s past restructuring activities; changes in costs of raw materials, including energy;
industry, regulatory, legal, and economic factors related to the Company’s domestic and international business; the effects of tariffs, trade barriers, and disputes; growth in markets for products in which the Company competes; industry and
customer acceptance of price increases; actions by competitors; currency exchange rate fluctuations; and other factors included in “Risk Factors” in the Company's Annual Report on Form 10-K for the year ended December 31, 2019, the Quarterly
Report on Form 10-Q for the quarter ended September 30, 2020, and in other documents that the Company files with the SEC. The risks and uncertainties identified above are not the only risks the Company faces. Additional risks and uncertainties
not presently known to the Company or that it currently believes to be immaterial also may adversely affect the Company. Should any known or unknown risks and uncertainties develop into actual events, these developments could have material
adverse effects on our business, financial condition, and results of operations. This release contains timesensitive information that reflects management’s best analysis only as of the date of this presentation. Except to the extent required by
applicable laws, the Company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied herein will not be realized.
3 sensient.com NON-GAAP FINANCIAL MEASURES Within this document, the Company reports certain non-GAAP
financial measures, including: (1) adjusted revenue, adjusted operating income, adjusted net earnings, and adjusted diluted earnings per share (which exclude the results of the product lines divested or to be divested, the divestiture and other
related costs, and the operational improvement plan costs), (2) adjusted results by segment (which exclude the results of the product lines divested or to be divested, the divestiture and other related costs, and the operational improvement
plan costs), (3) percentage changes in revenue, operating income, diluted earnings per share, and adjusted EBITDA on an adjusted local currency basis (which eliminate the effects that result from translating its international operations into
U.S. dollars, the results of product lines divested or to be divested, the divestiture and other related costs, and the operational improvement plan costs), (4) free cash flow (which is net cash provided by operating activities less capital
expenditures), and (5) adjusted EBITDA (which excludes depreciation and amortization expense, non-cash share based compensation expense, the results of the product lines divested or to be divested, the divestiture and other related costs, and
operational improvement plan costs). The Company has included each of these non-GAAP measures in order to provide additional information regarding the underlying operating results and comparable period-over-period performance. Such information
is supplemental to information presented in accordance with GAAP and is not intended to represent a presentation in accordance with GAAP. These non-GAAP measures should not be considered in isolation. Rather, they should be considered together
with GAAP measures and the rest of the information included in this report and the Company’s SEC filings. Management internally reviews each of these non-GAAP measures to evaluate performance on a comparative period-to-period basis and to gain
additional insight into underlying operating and performance trends, and the Company believes the information can be beneficial to investors for the same purposes. These non-GAAP measures may not be comparable to similarly titled measures used
by other companies. Refer to “Non-GAAP Financial Measures” at the end of this document and on our website at www.sensient.com for reconciliations and additional information.
4 sensient.com Over 135 years of Industry Leadership Industry leading provider of specialized
solutionsApplications and sales expertise to serve small entrepreneurialbusinesses to major international manufacturersServing the food and beverage, pharmaceutical, nutraceutical,cosmetic and personal care markets
5 sensient.com Innovative Technologies Creating Unique Solutions Applications expertise and
solutions-based sellingHigh impact relative to costTechnically-driven products that are difficult to replaceStrong consumer trendsOpportunities to grow organically and through M&A
6 sensient.com Focusing our portfolio and strengthening our commitment to the end
markets Investing in core focus areas of Flavors and Extracts, NaturalIngredients, Food and Pharmaceutical Colors, and Personal CareDivesting non-core product lines (inks, fragrances, and yogurt fruit prep product lines) where Sensient lacks
scale to competeThe sale of these product lines solidifies our focus on core strategic businesses and improves the Company’s future growth profile
7 sensient.com Color Group2019 Revenue: $535MCore Areas of Focus:
Food and Pharmaceutical Colors and Personal CareFlavors and Extracts Group2019 Revenue: $700MCore Areas of Focus: Flavors and Extracts, Natural Ingredients, and Other Flavor IngredientsAsia Pacific Group2019 Revenue: $118MCore Areas of Focus:
Flavors and Colors for food and beverage Global Revenue by Group * 2019 Global Revenues include intercompany sales which are eliminated on a consolidated basis.
8 sensient.com Global market leaderNatural color innovatorUnmatched
innovation & applications expertise Color Group
9 sensient.com Color Overview Food and Pharmaceutical(Previously named Food and Beverage) 63% of
2019 Segment Revenue LC Revenue Change Q3 ’20 +3.2%YTD ’20 +3.3% Market trend toward natural colors in food and beverageUnique value proposition for Pharmaceutical customers includes colors, flavors, coatings, and extracts Personal
Care 30% of 2019 Segment Revenue LC Revenue Change Q3 ’20 (11.8%)YTD ’20 (10.8%) Demand for innovative products with multiple benefitsProduct line includes formulation aides and ingredients for color cosmetics, hair care, and skin
care Inks 7% of 2019 Segment Revenue Completed divestiture in June 2020 2019 Revenue $535 Million * Local-currency (LC) revenue is a Non-GAAP metric, please see our GAAP to Non-GAAP Reconciliation at the end of this document.
10 sensient.com Flavors & Extracts Group Broad product offeringUnique ability to service
global,regional, and local customersLeading technology platformsUnmatched applicationsexpertise
11 sensient.com Flavors & Extracts Overview Flavors, Extracts, and Flavor Ingredients 54% of
2019 Segment Revenue LC Revenue Change Q3 ’20 +11.9%YTD ’20 +4.4% Opportunities for on trend products with extracts, taste modulation, and natural flavors NaturalIngredients 31% of 2019 Segment Revenue LC Revenue ChangeQ3 ’20
+14.5%YTD ’20 +12.1% Leading provider of dehydrated onion, garlic, and other products Fragrances 12% of 2019 Segment Revenue LC Revenue Change Q3 ’20 (11.0%)YTD ’20 (2.8%) Targeted for divestiture Yogurt Fruit Prep 3% of 2019 Segment
Revenue Completed divestiture in September 2020 2019 Revenue $700 Million * Local-currency (LC) revenue is a Non-GAAP metric. Please see our GAAP to Non-GAAP Reconciliation at the end of this document.
12 sensient.com Asia Pacific Group Sensient’s sales of flavors and colors for Food and
Pharmaceutical are managed on a geographic basis and reported as a separate segmentManufacturing capabilities in Australia, New Zealand, China, Japan, Philippines, Thailand, and India; R&D capabilities in Singapore, Thailand, and
ChinaAnnual revenues of $118 million and operating income of $19 million in 2019Strong long-term growth potential
13 sensient.com 2020 Year to Date Highlights Flavors & Extracts Group sales were up 7.2%,
driven by strong sales in NaturalIngredients and continued growth in Flavors, Extracts, and Flavor IngredientsColor Group sales were down slightly due to continued lower demand for makeup in the Personal Care businessFood and Pharmaceutical
color sales were up 3.3% in local currencyAsia Pacific Group revenue was up low-single digits and profit grew double-digitsDivested the Inks business in June and the yogurt fruit prep product line in SeptemberOperational improvement plan
initiated to reduce costs, primarily through the consolidation of certain cosmetic manufacturing operations * Local-currency revenue is a Non-GAAP metric. Please see our GAAP to Non-GAAP Reconciliation at the end of this document.
14 sensient.com 2020 Year to Date Results Adjusted Local Currency Revenue Operating
Income Q1 Q2 Q3 YTD Q1 Q2 Q3 YTD Total Company 3.1% Flat 6.1% 3.0% (7.2%) (11.8%) 10.1% (3.9%) Color 2.8% (5.1%) (1.5%) (1.2%) 0.3% (11.9%) 3.0% (3.1%) Flavors &
Extracts 3.6% 5.7% 12.9% 7.2% (14.5%) 8.0% 24.1% 4.0% Asia Pacific 8.5% (1.4%) 2.1% 3.0% 19.2% 16.4% 15.5% 16.9% Adjusted Local Currency Q1 Q2 Q3 YTD Adjusted Local Currency Diluted
EPS* (5.1%) (9.9%) 6.8% (3.4%) Adjusted Local Currency EBITDA* (4.5%) (4.3%) 8.9% (0.4%) * Local-currency adjusted revenue, adjusted operating income, adjusted diluted EPS, and adjusted EBITDA are Non-GAAP metrics. Please see our GAAP
to Non-GAAP Reconciliation at the end of this document.
15 sensient.com Financial Outlook Sensient has maintained its GAAP and adjusted earnings per
share guidancethroughout 2020:GAAP guidance $2.10 - $2.35 Adjusted guidance $2.60 - $2.80Despite improving operational performance, growth in Sensient’s operating income and earnings per share in 2020 has been impacted by higher non-cash
performance based equity expense and a higher income tax rate.Long-term expectations are for mid-single digit revenue growth across each segment and improving EBIT margins, particularly within the Flavors and Extracts Group. * Local-currency
revenue is a Non-GAAP metric. Please see our GAAP to Non-GAAP Reconciliation at the end of this document.
16 sensient.com Capital Allocation Prioritize ROI capital projects Maintain dividend payout
ratio Debt reduction to maintain targetedleverage Maintain financial flexibility to pursue M&A Excess capital returned to shareholdersthrough opportunistic share
repurchases $137 $177 $50 $87 $77 $48 $48 $50 $54 $57 $62 $79 $80 $81 $56 $51 $39 $8 $31 $25 $9 $87 $- $50 $100 $150 $200 $250 $300 $350 2014 2015 2016 2017 2018 2019 DOLLARS
IN MILLIONS Share Repurchase Acquisitions Dividends Debt Repayments Capital Expenditures
17 sensient.com Why Invest? Strong competitive position‘Sticky’ business (& low portion of
customer costs) Global presenceExposure to stable and growing markets Focused on improving returns and on growth
Environmental Sensient is committed to the principles of sound environmental stewardship and the
responsible and sustainable use of energy and natural resources.Long-term goals to reduce Energy, Water, and Hazardous Waste intensitySeed-to-shelf program focused on sustainable supply chainEmphasis on new products and technologies that
minimize waste and environmental impactsChemical Risk Strategy implemented to identify and reduce risk in our portfolio Social Sensient strives to conduct business in an ethical manner and to make a positive contribution to society through
our product offerings and business activities.Sensient’s Code of Conduct and Supplier Code of Conduct require strong ethical behavior, fair employment practices, and strict human rights practices and product safety standardsRobust product,
environmental, and raw material safety programs designed to exceed industry standards.Raw material traceability and sustainability programsSupport for our local communities through volunteerism, financial donations, sponsorships, and
employeeeducation opportunities Governance Sensient is committed to maintaining the highest standards of professional conduct and strong corporate governance practices through our comprehensive corporate governance framework.Board comprised
of a majority of independent directors with diverse and accomplished backgrounds.Committed to board diversity and refreshment, we are a 2020 Women on Boards Winning Company for the seventh year in a row and we have added seven new directors
over the past five years. 40% of our Board is female.Robust Code of Conduct built on a foundation of ethics, safety and quality, and professionalism resulting in ethical and lawful conduct of our business.Executive compensation strongly tied to
performance. 18 sensient.com ESG Information Click here to access our
19 sensient.com Investor Relations Contact Contact: Amy
Agallar E-mail: investor.relations@sensient.com Phone: 1 414 347 3827Website: www.sensient.com
APPENDIX – NON-GAAP TABLES
21 sensient.com Q1 Non-GAAP Financial Measures EPS Calculations may not foot due
to roundingdifferences Non-GAAP Financial MeasuresWithin the following tables, the Company reports certain non-GAAP financial measures, including: (1) adjusted revenue, adjusted operating income, adjusted net earnings, and adjusted diluted EPS
(which exclude the results of the product lines to be divested and the divestiture and other related costs), (2) percentage changes in revenue, operating income, diluted earnings per share, and adjusted EBITDA on an adjusted local currency
basis (which eliminate the effects that result from translating its international operations into U.S. dollars, the results of product lines to be divested, and the divestiture and other related costs), and (3) adjusted EBITDA (which excludes
non-cash share based compensation expense, the results of the product lines to be divested and the divestiture and other related costs).The Company has included each of these non-GAAP measures in order to provide additional information
regarding the underlying operating results and comparable period-over-period performance. Such information is supplemental to information presented in accordance with GAAP and is not intended to represent a presentation in accordance with GAAP.
These non-GAAP measures should not be considered in isolation. Rather, they should be considered together with GAAP measures and the rest of the information included in this report and the Company’s SEC filings. Management internally reviews
each of these non-GAAP measures to evaluate performance on a comparative period-to-period basis and to gain additional insight into underlying operating and performance trends, and the Company believes the information can be beneficial to
investors for the same purposes. These non-GAAP measures may not be comparable to similarly titled measures used by other companies. Three Months Ended Three Months Ended March 31, 2020 March 31, 2019 Revenue (GAAP) $
350,677 $ 347,513 Revenue of the product lines to be divested (36,585) (39,021) Adjusted revenue $ 314,092 $ 308,492 Operating income (GAAP) $ 34,561 $ 49,420 Divestiture & other related costs – Cost of products
sold 190 - Divestiture & other related costs – Selling and administrative expenses 11,653 - Operating income of the product lines to be divested (1,385) (32) Adjusted operating income $ 45,019 $ 49,388 Net
earnings (GAAP) $ 20,773 $ 32,807 Divestiture & other related costs, before tax 11,843 - Tax impact of divestiture & other related costs (934) - Net earnings of the product lines to be divested, before
tax (1,385) (32) Tax impact of the product lines to be divested 297 11 Adjusted net earnings $ 30,594 $ 32,786 Diluted earnings per share (GAAP) $ 0.49 $ 0.78 Divestiture & other related costs, net of
tax 0.26 - Result of operations of the product lines to be divested, net of tax (0.03) Adjusted diluted EPS $ 0.72 $ 0.78
22 sensient.com Q1 Non-GAAP Financial Measures (Cont’d)Q * Local-currency revenue, adjusted revenue,
operating income, adjusted operating income, diluted EPS, and adjusted EBITDA are Non-GAAP metrics, please see our GAAP to Non-GAAP Reconciliation at www.sensient.com. The following table summarizes the percentage change in the 2020 results
compared to the 2019 results for the corresponding periods:Three Months Ended March 31, 2020 Revenue Total Foreign Exchange Rates Product Lines to be Divested Adjusted Local Currency Flavors &
Fragrances 1.6% (1.1%) (0.9%) 3.6% Color (0.3%) (2.2%) (0.9%) 2.8% Asia Pacific 6.8% (1.7%) 0.0% 8.5% Total Revenue 0.9% (1.6%) (0.6%) 3.1% Operating Income Flavors &
Fragrances (9.7%) (0.9%) 5.7% (14.5%) Color (1.8%) (2.3%) 0.2% 0.3% Asia Pacific 19.9% 0.7% 0.0% 19.2% Corporate & Other 159.0% 0.0% 145.8% 13.2% Operating
Income (30.1%) (1.8%) (21.1%) (7.2%) Diluted Earnings Per Share (37.2%) (2.6%) (29.5%) (5.1%) Adjusted EBITDA (6.0%) (1.5%) N/A (4.5%)
23 sensient.com Q1 Non-GAAP Financial Measures (Cont’d) The following table summarizes the percentage
change in the 2020 results compared to the 2019 results for the corresponding periods:Three Months Ended March 31, 2020 Revenue Total Foreign Exchange Rates Local Currency Flavors, Extracts and Flavor
Ingredients (2.0%) (1.2%) (0.8%) Natural Ingredients 12.5% 0.0% 12.5% Fragrances (4.2%) (3.2%) (1.0%) Yogurt Fruit Prep (6.8%) 0.0% (6.8%) Flavors & Fragrances Group 1.6% (1.1%) 2.7% Food &
Beverage and Pharmaceutical 2.2% (2.1%) 4.3% Personal Care (2.6%) (2.4%) (0.2%) Inks (11.4%) (1.5%) (9.9%) Color Group (0.3%) (2.2%) 1.9% Asia Pacific 6.8% (1.7%) 8.5% Total revenue including product
lines to be divested 0.9% (1.6%) 2.5%
24 sensient.com Q2 Non-GAAP Financial Measures EPS Calculations may not foot due to
roundingdifferences Non-GAAP Financial MeasuresWithin the following tables, the Company reports certain non-GAAP financial measures, including: (1) adjusted revenue, adjusted operating income, adjusted net earnings, and adjusted diluted EPS
(which exclude the results of the product lines divested or to be divested and the divestiture and other related costs), (2) percentage changes in revenue, operating income, diluted earnings per share, and adjusted EBITDA on an adjusted local
currency basis (which eliminate the effects that result from translating its international operations into U.S. dollars, the results of product lines divested or to be divested, and the divestiture and other related costs), and (3) adjusted
EBITDA (which excludes depreciation and amortization expense, non-cash share based compensation expense, the results of the product lines divested or to be divested and the divestiture and other related costs)The Company has included each of
these non-GAAP measures in order to provide additional information regarding the underlying operating results and comparable period-over-period performance. Such information is supplemental to information presented in accordance with GAAP and
is not intended to represent a presentation in accordance with GAAP. These non-GAAP measures should not be considered in isolation. Rather, they should be considered together with GAAP measures and the rest of the information included in this
report and the Company’s SEC filings. Management internally reviews each of these non-GAAP measures to evaluate performance on a comparative period-to-period basis and to gain additional insight into underlying operating and performance trends,
and the Company believes the information can be beneficial to investors for the same purposes. These non-GAAP measures may not be comparable to similarly titled measures used by other companies. Three Months
Ended Three Months Ended Six Months Ended Six Months Ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Revenue (GAAP) $ 323,090 $ 339,186 $ 673,767 $ 686,699 Revenue of the product lines divested or
to be divested (28,217) (36,356) (64,802) (75,377) Adjusted revenue $ 294,873 $ 302,830 $ 608,965 $ 611,322 Operating income (GAAP) $ 42,125 $ 47,368 $ 76,686 $ 96,788 Divestiture & other related costs –
Cost of products sold 1,749 - 1,939 - Divestiture & other related costs (income) – Selling and administrative expenses (3,276) - 8,377 - Operating income of the product lines divested or to be
divested (331) (345) (1,716) (377) Adjusted operating income $ 40,267 $ 47,023 $ 85,286 $ 96,411 Net earnings (GAAP) $ 30,620 $ 34,331 $ 51,393 $ 67,138 Divestiture & other related costs (income), before
tax (1,527) - 10,316 - Tax impact of divestiture & other related costs 509 - (425) - Net earnings of the product lines divested or to be divested, before tax (331) (345) (1,716) (377) Tax impact of the
product lines divested or to be divested 203 105 500 116 Adjusted net earnings $ 29,474 $ 34,091 $ 60,068 $ 66,877 Diluted earnings per share (GAAP) $ 0.72 $ 0.81 $ 1.21 $ 1.59 Divestiture & other related
costs, net of tax (0.02) - 0.23 - Result of operations of the product lines divested or to be divested, net of tax - (0.01) (0.03) (0.01) Adjusted diluted earnings per share $ 0.70 $ 0.81 $ 1.42 $ 1.58
25 sensient.com Q2 Non-GAAP Financial Measures (Cont’d) * Local-currency adjusted revenue, adjusted
operating income, adjusted diluted EPS, and adjusted EBITDA are Non-GAAP metrics. Please see our GAAP to Non-GAAP Reconciliation at the end of this document and on our website at www.sensient.com. Revenue Total Foreign Exchange
Rates Product Lines Divested or to be Divested Adjusted Local Currency Total Foreign Exchange Rates Product Lines Divested or to be Divested Adjusted Local Currency Flavors &
Fragrances 1.9% (2.0%) (1.8%) 5.7% 1.8% (1.5%) (1.3%) 4.6% Color (12.7%) (4.4%) (3.2%) (5.1%) (6.4%) (3.3%) (2.0%) (1.1%) Asia
Pacific (3.9%) (2.5%) 0.0% (1.4%) 1.4% (2.1%) 0.0% 3.5% Total Revenue (4.7%) (2.9%) (1.8%) 0.0% (1.9%) (2.3%) (1.2%) 1.6% Operating Income Flavors &
Fragrances 13.5% (1.3%) 6.8% 8.0% 1.0% (1.1%) 6.2% (4.1%) Color (20.1%) (3.7%) (4.5%) (11.9%) (10.6%) (3.0%) (2.1%) (5.5%) Asia
Pacific 15.4% (0.9%) (0.1%) 16.4% 17.7% 0.0% (0.1%) 17.8% Corporate & Other 62.6% 0.0% (32.1%) 94.7% 123.4% 0.0% 80.1% 43.3% Total Operating
Income (11.1%) (2.9%) 3.6% (11.8%) (20.8%) (2.3%) (9.1%) (9.4%) Diluted Earnings Per Share (11.1%) (2.5%) 1.3% (9.9%) (23.9%) (2.5%) (13.8%) (7.6%) Adjusted
EBITDA (6.7%) (2.4%) N/A (4.3%) (6.3%) (1.9%) N/A (4.4%) The following table summarizes the percentage change in the 2020 results compared to the 2019 results for the corresponding periods:Three Months Ended June 30, 2020
Six Months Ended June 30, 2020
26 sensient.com Q2 Non-GAAP Financial Measures (Cont’d) The following table summarizes the percentage
change in the 2020 results compared to the 2019 results for the corresponding periods:Three Months Ended June 30, 2020 Six Months Ended June 30, 2020 Revenue Total Foreign Exchange Rates Local Currency Total Foreign Exchange
Rates Local Currency Flavors, Extracts and Flavor Ingredients 1.2% (2.6%) 3.8% (0.4%) (1.9%) 1.5% Natural
Ingredients 9.2% 0.0% 9.2% 10.8% 0.0% 10.8% Fragrances (0.4%) (4.0%) 3.6% (2.4%) (3.5%) 1.1% Yogurt Fruit Prep (40.2%) 0.0% (40.2%) (24.3%) 0.0% (24.3%) Flavors & Fragrances
Group 1.9% (2.0%) 3.9% 1.8% (1.5%) 3.3% Food & Beverage and Pharmaceutical (2.0%) (4.4%) 2.4% 0.1% (3.3%) 3.4% Personal
Care (24.8%) (3.4%) (21.4%) (13.2%) (2.9%) (10.3%) Inks (62.1%) (7.1%) (55.0%) (35.2%) (4.1%) (31.1%) Color Group (12.7%) (4.4%) (8.3%) (6.4%) (3.3%) (3.1%) Asia PacificTotal revenue including
product lines divested or to be divested (3.9%)(4.7%) (2.5%)(2.9%) (1.4%)(1.8%) 1.4%(1.9%) (2.1%)(2.3%) 3.5%0.4% * Local-currency revenue is a Non-GAAP metric. Please see our GAAP to Non-GAAP Reconciliation at the end of this
document and on our website at www.sensient.com.
27 sensient.com Q3 Non-GAAP Financial Measures Note: EPS Calculations may not
foot due to roundingdifferences Non-GAAP Financial MeasuresWithin the following tables, the Company reports certain non-GAAP financial measures, including: (1) adjusted revenue, adjusted operating income, adjusted net earnings, and adjusted
diluted earnings per share (which exclude the results of the product lines divested or to be divested, the divestiture and other related costs, and the operational improvement plan costs), (2) adjusted results by segment (which exclude the
results of the product lines divested or to be divested, the divestiture and other related costs, and the operational improvement plan costs), (3) percentage changes in revenue, operating income, diluted earnings per share, and adjusted EBITDA
on an adjusted local currency basis (which eliminate the effects that result from translating its international operations into U.S. dollars, the results of product lines divested or to be divested, the divestiture and other related costs, and
the operational improvement plan costs), (4) free cash flow (which is net cash provided by operating activities less capital expenditures), and (5) adjusted EBITDA (which excludes depreciation and amortization expense, non-cash share based
compensation expense, the results of the product lines divested or to be divested, the divestiture and other related costs, and operational improvement plan costs).The Company has included each of these non-GAAP measures in order to provide
additional information regarding the underlying operating results and comparable period-over-period performance. Such information is supplemental to information presented in accordance with GAAP and is not intended to represent a presentation
in accordance with GAAP. These non-GAAP measures should not be considered in isolation. Rather, they should be considered together with GAAP measures and the rest of the information included in this report and the Company’s SEC filings.
Management internally reviews each of these non-GAAP measures to evaluate performance on a comparative period-to-period basis and to gain additional insight into underlying operating and performance trends, and the Company believes the
information can be beneficial to investors for the same purposes. These non-GAAP measures may not be comparable to similarly titled measures used by other companies. Three Months Ended Three Months
Ended Nine Months Ended Nine Months Ended September 30, 2020 September 30, 2019 September 30, 2020 September 30, 2019 Revenue (GAAP) $ 323,566 $ 317,650 $ 997,333 $ 1,004,349 Revenue of the product lines
divested or to be divested (23,588) (34,112) (88,390) (109,489) Adjusted revenue $ 299,978 $ 283,538 $ 908,943 $ 894,860 Operating income (GAAP) $ 41,155 $ 38,788 $ 117,841 $ 135,576 Divestiture &
other related costs (income) – Cost of products sold (148) - 1,791 - Divestiture & other related costs – Selling and administrative expenses 312 - 8,689 - Operating income of the product lines divested or to be
divested (2,449) (856) (4,165) (1,233) Operational improvement plan – Cost of products sold 35 - 35 - Operational improvement plan – Selling and administrative expenses 2,606 - 2,606 - Adjusted operating
income $ 41,511 $ 37,932 $ 126,797 $ 134,343 Net earnings (GAAP) $ 32,910 $ 31,871 $ 84,303 $ 99,009 Divestiture & other related costs, before tax 164 - 10,480 - Tax impact of divestiture & other
related costs (787) - (1,212) - Net earnings of the product lines divested or to be divested, before tax (2,449) (856) (4,165) (1,233) Tax impact of the product lines divested or to be
divested 655 87 1,155 203 Operational improvement plan costs, before tax 2,641 - 2,641 - Tax impact of operational improvement plan (656) - (656) - Adjusted net earnings $ 32,478 $ 31,102 $
92,546 $ 97,979 Diluted earnings per share (GAAP) $ 0.78 $ 0.75 $ 1.99 $ 2.34 Divestiture & other related costs (income), net of tax (0.01) - 0.22 - Result of operations of the product lines divested or to be
divested, net of tax (0.04) (0.02) (0.07) (0.02) Operational improvement plan costs, net of tax 0.05 - 0.05 - Adjusted diluted earnings per share $ 0.77 $ 0.74 $ 2.19 $ 2.32
28 sensient.com Q3 Non-GAAP Financial Measures (Cont’d) Revenue Total Foreign Exchange Rates Divestiture & Operational Improvement
Plan Impact Adjusted Local Currency Total Foreign Exchange Rates Divestiture & Operational Improvement Plan Impact Adjusted Local Currency Flavors & Extracts 9.1% 0.5% (4.3%) 12.9% 4.1% (0.8%) (2.3%) 7.2% Color (8.3%) (1.2%) (5.6%) (1.5%)
(7.0%) (2.6%) (3.2%) (1.2%) Asia Pacific 2.0% 0.4% (0.5%) 2.1% 1.6% (1.2%) (0.2%) 3.0% Total Revenue 1.9% (0.2%) (4.0%) 6.1% (0.7%) (1.6%) (2.1%) 3.0% Operating Income Flavors & Extracts 35.5% (0.3%) 11.7% 24.1% 11.0% (0.9%) 7.9% 4.0% Color
0.5% (0.4%) (2.1%) 3.0% (7.4%) (2.3%) (2.0%) (3.1%) Asia Pacific 13.3% (1.4%) (0.8%) 15.5% 16.0% (0.5%) (0.4%) 16.9% Corporate & Other 61.6% 0.0% 36.7% 24.9% 100.3% 0.0% 63.8% 36.5% Total Operating Income 6.1% (0.6%) (3.4%) 10.1% (13.1%) (1.8%)
(7.4%) (3.9%) Diluted Earnings Per Share 4.0% 0.0% (2.8%) 6.8% (15.0%) (1.8%) (9.8%) (3.4%) Adjusted EBITDA 8.6% (0.3%) N/A 8.9% (1.9%) (1.5%) N/A (0.4%) Three Months Ended September 30, 2020 Nine Months Ended September 30, 2020 The following table
summarizes the percentage change in the 2020 results compared to the 2019 results for the corresponding periods:
29 sensient.com Q3 Non-GAAP Financial Measures (Cont’d) Note: *Inks was divested in June 2020 and
Yogurt Fruit Prep was divested in September 2020. Revenue Total Foreign Exchange Rates Local Currency Total Foreign Exchange Rates Local Currency Flavors, Extracts and Flavor
Ingredients 11.9% 0.0% 11.9% 3.1% (1.3%) 4.4% Natural Ingredients 14.5% 0.0% 14.5% 12.0% (0.1%) 12.1% Fragrances (7.0%) 4.0% (11.0%) (3.9%) (1.1%) (2.8%) Yogurt Fruit
Prep* (32.3%) 0.0% (32.3%) (26.6%) 0.0% (26.6%) Flavors & Extracts Group 9.1% 0.5% 8.6% 4.1% (0.8%) 4.9% Food and Pharmaceutical 2.0% (1.2%) 3.2% 0.7% (2.6%) 3.3% Personal
Care (12.6%) (0.8%) (11.8%) (13.0%) (2.2%) (10.8%) Inks* (93.5%) (2.4%) (91.1%) (52.3%) (3.6%) (48.7%) Color Group (8.3%) (1.2%) (7.1%) (7.0%) (2.6%) (4.4%) Asia PacificTotal revenue including
product lines divested or to be divested 2.0%1.9% 0.4%(0.2%) 1.6%2.1% 1.6%(0.7%) (1.2%)(1.6%) 2.8%0.9% Three Months Ended September 30, 2020 Nine Months Ended September 30, 2020
30 sensient.com Q1 Divested Operations Results by Segment Three Months Ended March
31, Revenue 2020 Product Linesto be divested Adjusted2020 2019 Product Linesto be divested Adjusted2019 Flavors & Fragrances $ 186,498 $ (27,445) $ 159,053 $ 183,553 $ (28,806) $
154,747 Color 143,495 (9,072) 134,423 143,879 (10,280) 133,599 Asia Pacific 30,449 (121) 30,328 28,519 (108) 28,411 Intersegment
elimination (9,765) 53 (9,712) (8,438) 173 (8,265) Consolidated $ 350,677 $ (36,585) $ 314,092 $ 347,513 $ (39,021) $ 308,492 Operating Income Flavors & Fragrances $ 20,871 $
(1,218) $ 19,653 $ 23,125 $ 107 $ 23,232 Color 29,664 (133) 29,531 30,199 (110) 30,089 Asia Pacific 5,059 (34) 5,025 4,218 (29) 4,189 Corporate &
Other (21,033) 11,843 (9,190) (8,122) - (8,122) Consolidated $ 34,561 $ 10,458 $ 45,019 $ 49,420 $ (32) $ 49,388
31 sensient.com Q2 Divested Operations Results by Segment Revenue 2020 Product Linesdivested
or to be divested Adjusted 2020 2019 Product Linesdivested or to be divested Adjusted 2019 Flavors & Fragrances $ 183,611 $ (24,742) $ 158,869 $ 180,134 $ (27,295) $
152,839 Color 121,296 (3,501) 117,795 138,912 (9,134) 129,778 Asia Pacific 27,873 (213) 27,660 29,002 (218) 28,784 Intersegment elimination (9,690) 239 (9,451) (8,862) 291
(8,571) Consolidated $ 323,090 $ (28,217) $ 294,873 $ 339,186 $ (36,356) $ 302,830 Operating Income Flavors & Fragrances $ 22,752 $ (1,619) $ 21,133 $ 20,050 $ (195) $
19,855 Color 22,263 1,347 23,610 27,877 (95) 27,782 Asia Pacific 4,849 (59) 4,790 4,201 (55) 4,146 Corporate & Other (7,739) (1,527) (9,266) (4,760) - (4,760) Consolidated $
42,125 $ (1,858) $ 40,267 $ 47,368 $ (345) $ 47,023 Three Months Ended June 30,
32 sensient.com Q3 Divested Operations Results by Segment Divestiture &Operational
Improvement Adjusted Divestiture Adjusted Revenue 2020 Plan Impact 2020 2019 Impact 2019 Flavors & Extracts $ 182,866 $ (22,978) $ 159,888 $ 167,577 $ (25,954) $
141,623 Color 116,414 (669) 115,745 127,005 (8,176) 118,829 Asia Pacific 30,740 (68) 30,672 30,125 (237) 29,888 Intersegment elimination (6,454) 127 (6,327) (7,057) 255
(6,802) Consolidated $ 323,566 $ (23,588) $ 299,978 $ 317,650 $ (34,112) $ 283,538 Operating Income Flavors & Extracts $ 23,844 $ (2,241) $ 21,603 $ 17,600 $ (109) $
17,491 Color 23,559 (185) 23,374 23,436 (689) 22,747 Asia Pacific 6,123 (23) 6,100 5,406 (58) 5,348 Corporate & Other (12,371) 2,805 (9,566) (7,654) - (7,654) Consolidated $
41,155 $ 356 $ 41,511 $ 38,788 $ (856) $ 37,932 Three Months Ended September 30,
33 sensient.com YTD Divested Operations Results by Segment Divestiture &Operational
Improvement Adjusted Divestiture Adjusted Revenue 2020 Plan Impact 2020 2019 Impact 2019 Flavors & Extracts $ 552,975 $ (75,165) $ 477,810 $ 531,264 $ (82,055) $
449,209 Color 381,205 (13,242) 367,963 409,796 (27,590) 382,206 Asia Pacific 89,062 (402) 88,660 87,646 (563) 87,083 Intersegment elimination (25,909) 419 (25,490) (24,357) 719
(23,638) Consolidated $ 997,333 $ (88,390) $ 908,943 $ 1,004,349 $ (109,489) $ 894,860 Operating Income Flavors & Extracts $ 67,467 $ (5,078) $ 62,389 $ 60,775 $ (197) $
60,578 Color 75,486 1,029 76,515 81,512 (894) 80,618 Asia Pacific 16,031 (116) 15,915 13,825 (142) 13,683 Corporate & Other (41,143) 13,121 (28,022) (20,536) -
(20,536) Consolidated $ 117,841 $ 8,956 $ 126,797 $ 135,576 $ (1,233) $ 134,343 Nine Months Ended September 30,
34 sensient.com