8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

June 5, 2013

Date of Report (Date of earliest event reported)

INTERNATIONAL FLAVORS & FRAGRANCES INC.

(Exact Name of Registrant as Specified in Charter)

NEW YORK	1-4858	13-1432060
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

521 WEST 57^th STREET

NEW YORK, NEW YORK 10019

(Address of Principal Executive Offices) (Zip Code)

(212) 765-5500

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 7.01. Regulation FD Disclosure.

As previously announced, International Flavors & Fragrances Inc. (the “Company”) is holding its 2013 Investor Day on Wednesday, June 5, 2013 in New York, New York. Interested parties can access a live audio webcast within the Investor Relations section of the Company’s website at www.iff.com. For those unable to listen to the live audio webcast, a replay will be accessible on the Investor Relations section of the Company’s website approximately 48 hours after the event and will remain available for one year after the event. The presentations beginning at 8:00 a.m. EDT are being furnished as Exhibit 99.1 to this Current Report on Form 8-K.

Cautionary Statement Regarding Forward-Looking Information

The presentations furnished with this Current Report on Form 8-K include “forward-looking statements” under the Federal Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s expectations concerning its future results, performance and the growth opportunities for the business, its product portfolio and R&D pipeline, the expected development of commercialization of sustainable, cost-effective ingredients, and its ability to execute on its long-term strategic plan and reach its long-term goals. These forward-looking statements are qualified in their entirety by cautionary statements and risk factor disclosures contained in the Company’s SEC filings, including the Company’s Annual Report on Form 10-K filed with the SEC on February 26, 2013. The Company wishes to caution readers that certain important factors may affect and could in the future affect the Company’s actual results and could cause the Company’s actual results for subsequent periods to differ materially from those expressed in any forward-looking statements made by or on behalf of the Company. With respect to the Company’s expectations regarding these statements, such factors include, but are not limited to, the economic climate for the Company’s industry and demand for the Company’s products, fluctuations in the price, quality and availability of raw materials, changes in consumer preferences, the effects of any unanticipated costs and construction or start-up delays in the expansion of any of the Company’s facilities, the Company’s ability to implement its business strategy, including the achievement of anticipated cost savings, profitability, realization of growth targets, the Company’s ability to successfully develop new and competitive products and to enter and expand its sales in new and other emerging markets. New risks emerge from time to time and it is not possible for management to predict all such risk factors or to assess the impact of such risks on the Company’s business. Accordingly, the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Non-GAAP Financial Measures

Certain of the presentations furnished with this Current Report on Form 8-K contain non-GAAP financial measures, including (i) adjusted EPS, (ii) adjusted operating profit, (iii) adjusted operating profit margin, (iv) local currency sales, (v) LFL, or like-for-like local currency sales, (vi) adjusted effective tax rate, (vii) adjusted segment profit, (viii) adjusted segment profit margin, (ix) adjusted return on invested capital, (x) core working capital and (xi) adjusted cash flow from operations. These measures are not intended to represent a presentation in accordance with GAAP. In discussing the Company’s historical and expected future results and financial condition, the Company believes 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 identified items. The Company believes such non-GAAP measures provide investors with an overall perspective of the period-to-period performance of its business. In addition, management internally reviews each of these non-GAAP measures to evaluate performance on a comparative period-to-period basis in terms of absolute performance, trends and expected future performance with respect to our business. A material limitation of these non-GAAP measures is that such measures do not reflect actual GAAP amounts. The Company compensates for such limitations by presenting the reconciliations contained in the furnished presentations to the most directly comparable GAAP measure. These non-GAAP measures may not be comparable to similarly titled measures used by other companies.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.	Description
99.1	Investor Day Presentation Materials dated June 5, 2013.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	INTERNATIONAL FLAVORS & FRAGRANCES INC.
Date: June 5, 2013	By:	/s/ Kevin C. Berryman
	Name:	Kevin C. Berryman
	Title:	Executive Vice President
		and Chief Financial Officer

EXHIBIT INDEX

Exhibit No.	Description
99.1	Investor Day Presentation Materials dated June 5, 2013.

EX-99.1

Exhibit 99.1

Exhibit 99.1

Investor Day

2013

Innovation

The Foundation of Our Success

Doug Tough

Chairman of the Board & Chief Executive Officer

June 5, 2013

Senior Leadership Team

Doug Tough Dr. Ahmet Baydar

Chairman of the Board & Chief Executive Officer Senior Vice President, Research & Development

Kevin Berryman Francisco Fortanet

Executive Vice President & Chief Financial Officer Senior Vice President, Operations

Nicolas Mirzayantz Anne Chwat

Group President, Fragrances Senior Vice President, General Counsel and Corporate Secretary

Hernan Vaisman

Group President, Flavors Angelica Cantlon

Senior Vice President, Human Resources

Meeting Agenda

Wednesday, June 5th

Meeting Time

Doug Tough 8:00 am 8:20 am Hernan Vaisman 8:20 am 8:40 am Nicolas Mirzayantz 8:40 am 9:00 am Dr. Ahmet Baydar 9:00 am 9:20 am Break 9:20 am 9:30 am Technology Demonstrations 9:30 am 11:00am Francisco Fortanet 11:00am 11:20am Kevin Berryman 11:20am 11:40 am Doug Tough 11:40 am 12:00 pm Q&A: Adjourn (Box Lunch) 12:00 pm 1:00 pm

Technology Demonstrations

Flavors (Upstairs)

FlavorFit™—satisfying consumers’ need for healthier choices, without compromising on taste

Citrus Toolbox unique and authentic citrus flavors for the most refreshing beverages

Fragrances (Downstairs)

Encapsulation encapsulated fragrances smell fresher longer

Acqua di Gioia Giorgio Armani birth of a Fine Fragrance, using Naturals and Consumer Insights (Scent Emotions)

Classics —creating the classic scents of yesterday, today and tomorrow

“We create unique scent and taste experiences people love”

Member of S&P 500

Listed on NYSE

Market cap of ~$6.5 billion

$2.8 billion in sales and $488 million in adjusted operating profit (FY 2012)

Leading innovator

Create flavors & fragrances for the food, beverage and beauty industries

Company Overview

Geographic Global Reach

5,700 Employees

Serving Consumers in 100 Countries

Operating in 32 Countries

47% sales to Emerging Markets

Product Diversified Portfolio

49% Flavors

51% Fragrances

Multiple End-Use Categories

Naturals

Customer Outstanding Base

Strong Multinationals

Leading Regionals

Stable Customer Base Committed to Growing

IFF’s Business Model A Holistic Chain

Consumer Creative Operational Customer

R&D

Insight Centers Excellence Intimacy

Based on rigorous Discovery of Commercializing Efficiency in all Increase

consumer new materials innovative we do participation on

research Development of solutions Internal margin core supplier lists

400,000 consumer new technologies Network of 22 improvement Deep

interviews Creation of new creative centers initiatives understanding of

every year compounds around the world Productivity our customers’

Understand trends Work with our and efficiency brands and goals

Enhance existing

in all parts of ingredients and customers’ drive profitability Knowledge

world; e.g., compounds product of customers’

China, India development market positioning

and Indonesia +235 patents since groups

2000; 11 in 2012

Successfully Creating Consumer-Preferred Products

2010 Strategic Initiatives

Introduced Economic Profit to prioritize investments

Developed a process for prioritizing R&D programs/investment

Ingrained philosophy of investing resources behind advantaged categories

Created a roadmap for achieving strong financial results

Allows us to track and measure progress

Goal is to maximize returns on investments

Results of 2011 Strategic Assessment

Flavors & Fragrances are both attractive

Bulk of portfolio is EP positive

Some categories and customers needed remediation

We have substantial organic growth opportunities

M&A could be used to accelerate organic growth

Three Strategic Pillars

Leverage Geographic Reach

Strengthen Innovation Platform

Maximize Portfolio

Leverage Geographic Reach

Sales Profile

43% 49%

57% 51%

Q1-2010 Q1-2013

Developed Emerging

Markets Markets

Revenues by Region (1)

Latin Europe,

America Africa and

16% Middle East

32%

25%

North

America 27%

Greater Asia

75% of our Sales are

Outside North America

1.Chart above based on 2012 total revenue of $2.8 billion

Strengthen Innovation Platform

Our Innovations, such as Health & Wellness, or Encapsulated Fragrances, or other modulators such as malodor, deliver:

Customer Benefit drives market share

Consumer Benefit meets an unmet need

IFF Benefit innovation drives gross margin

Innovation is our life-blood

Maximize Portfolio: Consolidated Portfolio Impact

Leveraging Geographical Reach, Our Innovation Platforms and the Profitability Initiatives Have Led to Substantial Improvement in Our Portfolio Performance Since 2010

2010 Portfolio Value Breakdown

% Capital Employed

15%

EP Positive

20% EP Break-even

65% EP Negative

Focus on profitable categories, customers and regions

Exit of low-margin sales activities

New plants are state-of-the-art

Plant closings to drive operating efficiencies

% of capital employed that is generating returns above cost of capital

Investment in Our People

We have Focused on Attraction,

Development and Retention of Our Talent

Regional Recruiter Model

3 Pronged Development Approach

Management tools/employee transparency

Retention of Critical Talent

Creating a Competitive Advantage

Increase R&D Investments to Improve Innovation

Develop superior products and delivery systems that address consumer needs

Deepen understanding of customers’ brands

Use innovation to drive continuous margin improvement

Invest in facilities, creative centers, and people to support growth

Investor Day

2013

Innovation

The Foundation of Our Success

Investor Day

2013

Innovation

The Foundation of Our Success

Hernan Vaisman

Group President, Flavors

June 5, 2013

Global Flavors Market Potential

IFF Flavors Estimated Market Share Increased 2 ppts to14% Since 2007

Global Flavors Market Breakdown

by Category

Other

Dairy 3%

8%

Beverage

Sweet 35%

21%

Savory

33%

Global Flavors Market Breakdown

by Region

Latin

America

11%

EAME

33%

North

America

27%

Greater

Asia

29%

Total Flavors Market Estimated at: $9.6B*

(3-5% CAGR since 2007)

Source: IAL Consultants & Internal Estimates *2011

Progress Since 2010

Average local currency sales LFL growth of 9% with a quarterly range of 6% to 12%

Emerging markets account for 50% of Q1-2013 sales, up from 47% in Q1-2010

Health & Wellness and Naturals platforms are significant contributors to current portfolio strength

Segment profit increased 13% 3-Year CAGR to $298 million for full year 2012

Local Currency Sales Growth

LFL Sales Growth has Accelerated

Over Past 3 Years

9%

6%

2007—2009 2010—2012

Enlarged footprint in emerging markets of Asia and Middle East

Invested in profitable categories and customers to drive continued growth

Increased R&D investment to improve innovation and deliver superior products

Emerging Market Presence

2010—Q1 2013 Expanding Emerging Market Sales

55%

53% 52% 51% 50%

50% FY FY FY Q1 ’13

47% 48% 49% 50%

45%

Q1 2010 Q2 2010 Q3 2010 Q4 2010 Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013

Developed Emerging

Flavors Segment Profit Drivers

Segment Margin

(2010-2012—Percent)

2.0 21.6

20.2 0.6

FY 2010 Net Price and Strategic FY 2012

Input Costs Initiatives

Segment profit increased $55 million since 2010, despite pressure from increased raw material input costs

Profit expansion due to exit of low-margin sales activities, positive mix, operating efficiencies, and other cost-savings initiatives

Consistent Growth & Profitability

Double-digit adjusted segment profit growth accelerated

Improved adjusted segment profit due to consistent sales growth, ongoing innovations and targeted focus on higher-margin business opportunities

Ongoing innovations and market coverage initiatives should drive future growth

Adjusted Segment Profit

21.6%

$300 21.1%

$250 20.2%

18.4% 19.3%

$200 18.6%

16.7%

$150 $284 $298

$243

$100 $187 $201 $209

$149

$50

$-

2006 2007 2008 2009 2010 2011 2012

Execution on Strategic Growth Pillars

Strengthen Innovation Platform

Leverage Geographic Reach

Maximize Portfolio

Leverage Geographic Reach

Aligning Our Investments in Manufacturing Capacity and Labs with Fast-Growing Markets

Greater China

~7%

Expected Market Growth

India

~9%

Expected Market Growth

Indonesia

~5%

Expected Market Growth

Turkey

~5%

Expected Market Growth

Source: IAL Consultants & Internal Estimates

Strengthen Innovation Platform

Consumer Drivers

Naturalness Health & Wellness Taste Affordability

vity

Acti Naturals Flavor Encapsulation & High-Impact

of Modulators Delivery Molecules

s Freshness Mitigate effects of Flavor release Cost reduction /

Pillar Authenticity reduction Sodium, sugar, fat Longer-lasting taste concentrated flavors

Flavor masking

IFF

Maximize Portfolio

In 2012 All Categories are EP Positive

Negative

~20%

Positive

Positive 100%

~80%

2010 2012

Almost all categories and regions showed significant improvement vs. 2009; all are EP positive

Q2 ’13 will be the last quarter with impact from the exit of low-margin sales activities

Expect to have cumulatively exited approximately $55 million since 2010

Strategic Priorities Going Forward

Leverage Geographic Reach

Additional investment in targeted developing markets in Africa, Middle East, Central and Southeast Asia

Exploring additional opportunities in largest developing countries where different ethnic/religious groups demand specific tastes

Improving market coverage in developed countries where we have underdeveloped market share

Strategic Priorities Going Forward

Strengthen Innovation Platform

Natural Flavors ingredients

New game-changing Flavor modulators and existing tool box

High-impact molecules through analytical and organic chemistry

Delivery Systems

Strategic Priorities Going Forward

Maximize Portfolio

Focus on profitable sub-categories where IFF has currently significant opportunities for growth

Target technology-driven taste solutions instead of commodities

Cost-savings and margin expansion through manufacturing efficiencies

Summary

Strategic Priorities

Enlarge Footprint

Continue alignment of innovation activities to consumer needs

Pursue opportunities to better position IFF in more profitable categories

Financial Long Expectations -Term

Sales growth of 2 to 3 percentage points above industry

Improve gross margin

Segment profit growth of high single-digits

Investor Day

2013

Innovation

The Foundation of Our Success

Investor Day

2013

Innovation

The Foundation of our Success

Nicolas Mirzayantz

Group President, Fragrances

June 5, 2013

Global Fragrance Compound Market

IFF Fragrance Compound Market Share Increased 2 ppts to19% Since 2009

Global Fragrance Compound Market

by Category

Personal

Wash Fine

15% Fragrance

27%

Home

Care

16%

Beauty Fabric

Care Care

17% 25%

Global Fragrance Compound Market

by Region

Latin

America

17% Europe,

Africa,

Middle

East

Asia 40%

20%

North

America

23%

Total Fragrance Compounds Market Estimated at $6B and Growing 2-3% Per Year

Source:

2011 IAL Consultants & Internal Estimates

Performance Update

8% average (2010-2012) local currency sales growth for Fragrance Compounds due to strong win rates, increased core list participation, innovation and emerging markets growth

Innovation (e.g., encapsulation) driving sales & profitability

Emerging markets growing importance

Ingredients sales declined due to competitors’ penetration in high volume, low value product portfolio

Actions taken to rationalize portfolio (including Augusta closing)

8% 3-Year CAGR Adjusted Segment Profit thru 2012

Local Currency Sales Growth

Acceleration in Fragrance Compounds

Competitive Pressure in Ingredients

Ingredients 8%

Compounds

1%

0% 0%

2007-2009 2010-2012

More than 80% of IFF Fragrance sales are Fragrance Compounds

Strengthening resources in emerging markets

Investment in higher profit categories and customers to drive continued growth

Increased R&D investment to improve innovation and deliver superior products

Leverage Geographic Reach

Emerging Market Sales: 48% of Total Fragrance Sales and 54% of Compound Sales

60%

58% 56% 54% 52%

50% FY FY FY Q1

42% 44% 46% 48%

40%

Q1 2010Q2 2010Q3 2010Q4 2010Q1 2011Q2 2011Q3 2011Q4 2011Q1 2012Q2 2012Q3 2012Q4 2012Q1 2013

Developed Emerging

Adjusted Segment Profit Drivers

Adjusted Segment Margin

(2010-2012—Percent)

17.3% 2.8%

2.0% 16.5%

FY 2010 Net Price and Strategic FY 2012

Input Costs Initiatives

280 bps reduction due to unprecedented input cost increases

200 bps improvement from strategy execution

Resources focused on higher profit businesses is improving mix

Corrective actions to improve negative EP businesses

Adjusted Segment Profit Growth

2007-2009 2010-2012

3-Year CAGR

8%

-5%

8% CAGR adjusted segment profit under new strategy execution, reversing downward trend; despite substantial input cost increases

Investing in and successfully growing higher profit businesses

Innovation / encapsulation technology key sales growth driver

Fixing unprofitable businesses and streamlining manufacturing footprint

Execution on Strategic Growth Pillars

Leverage Strengthen Maximize

Geographic Reach Innovation Platform Portfolio

Leverage Geographic Reach

Of Our Top 10 Markets, 5 are in Emerging Markets; $54 Million in Capital Spending Since 2010

Greater Asia

$1.2 Billion Market Potential > 5% Growth

New technology center in Mumbai

Expanded C&A Resources in Singapore

New Singapore plant

Latin America

$1 Billion Market Potential > 4.5% Growth

2009 Investment in Sao Paulo Creative Center Leveraged

Expanded C&A Resources in Mexico

Source: IAL Consultants & Internal Estimates

Strengthen Innovation Platform

Consumer Drivers

Multi-Sensorial

Experience Health & Wellness Sustainability Affordability

s

Platform “I enjoy “I take care “I take care

every moment” of myself” of our Planet” “I can afford it”

R&D New Molecules New Molecules New Molecules New Molecules

IFF Naturals Naturals Naturals Process Engineering

Delivery Systems Delivery Systems Process Engineering Performance Insight

Performance Insight Performance Insight

Malodor

Maximize Portfolio

Economic Profit

Analysis of Portfolio

10% 11% Negative

11% Neutral

40% Positive

78%

50%

2010 2012

Good progress in improving economic profit performance

Executed strategic alignment program in 2012

Profitability restored through pricing & margin initiatives

Fact-based analysis indicates fixing remaining unprofitable portfolio creates more value than exiting

Fragrance Ingredients Overview

Ingredients is Primarily Focused on Supplying Cost Advantaged Ingredients to IFF Fragrances Compounds; Excess Capacity is Sold; External Ingredients Sales Continue to Generate Positive EP

> 50% of Fragrance Compound Raw

Materials Supplied by IFF Ingredients

0

IFF

Ingredients

3rd Party

Suppliers

< 20% of Total Fragrance

Sales are External Ingredients

External

Ingredients

Fragrance

Compounds

Strategic Initiatives/Realignment—Ingredients

Increased use of IFF ingredients in Fragrance Compounds

? Increased pipeline of new molecules for internal use

Rationalizing portfolio of ingredients and manufacturing assets

Augusta plant closure planned for mid 2014

Long-term Amyris Biotechnology collaboration

Investing in new pilot plant to increase speed to market for internally-used innovative and low cost molecules

Strategic Priorities Going Forward

Leverage Geographic Reach

Continuing our investments in fast growing emerging markets

? India

? China & South East Asia

? Brazil & Mexico

? Middle East

Strengthening our consumer insight leadership in emerging markets

Gain market share in developed markets

Strategic Priorities Going Forward

Strengthen Innovation Platform

New Molecules

– Create unique and differentiated fragrance experiences

– Provide low cost, high impact solutions for emerging markets

Naturals – differentiated & unique fragrance experiences

Delivery Systems – strengthening encapsulation leadership

Process Engineering – cost innovation and sustainability

Performance Insight – leverage modeling capabilities

Malodor – develop new malodor coverage systems

Strategic Priorities Going Forward

Maximize Portfolio

Leverage innovation to support margin enhancement

Accelerate growth in higher margin businesses

Continue to improve profitability of negative economic profit businesses

Execute Fragrance Ingredients strategy

Continue to drive proven productivity programs

Summary

Strategic Pillars

Leverage Geographic Reach

Strengthen Innovation Platform

Maximize Portfolio

Financial Long Expectations -Term

Compounds sales growth of 2% to 3% above industry

Stabilize external Fragrance Ingredients sales

Improve Gross Margin

Segment Profit growth of high single-digits

Investor Day

2013

Innovation

The Foundation of Our Success

Investor Day

2013

Research & Development

Ahmet Baydar

SVP, Research & Development

June 5, 2013

IFF Strategic Pillars

R&D Drives Progress Across Our 3 Strategic Pillars

Strategy

Leverage Strengthen

Geographic Innovation Maximize

Reach Platform Portfolio

R&D

R&D Strategy

Introduced Our Refreshed Research Strategy at 2011 Investor Day

Create Ingredients and Technologies to drive product superiority and differentiation

Focus Research Platforms on customer and consumer needs

Improve consumer preference, cost-efficiency, and drive growth

Broaden internal research capabilities and open innovation

Customer and Consumer Needs

Strengthened Consumer Insights and Customer Intimacy…

1Health Wellness & 3Taste Preferred or Scent 5Performance & Diffusion 7Compliance Regulatory

2Sustainability 4Naturals 6Malodor 8CostInnovation

Research Platforms

… to Direct Our 10 Research Platforms

Flavor Fragrance

1Flavor Modulation 3Delivery 5Fragrance Molecules 7Delivery 9Malodor Systems Systems

2FlavorNaturals 4High Impact 6Naturals Fragrance 8ProcessResearch 10Modeling

Portfolio Management Approach

Utilize an Economic Profit-Based Process to Prioritize Investment

2of Likelihood Success 4Prioritization Resource &

1Opportunity Market 3Value to IFF 5Execution

Progress on Innovation Strategy

Our Strategic Approach Is Accelerating the Rate and Impact of Innovation

Flavor Molecule Pipeline

Fragrance New Molecule Pipeline

Delivery Systems Portfolio

Cost Innovation

Total Innovation Pipeline

Flavor Modulation

Developing Next Generation of Flavor Modulation Technologies

Launched portfolio of exclusive healthy flavor technologies

Creating novel flavor modulators via isolates from biodiversity and receptor research

Flavor Naturals

Providing Healthier, Cost-Effective, Authentic Taste Solutions

Created robust pipeline of novel natural flavors, targeting:

Natural versions of existing molecules

Extracts with unique performance

Leveraging biotechnology to create sustainable, cost-effective naturals

Flavor Delivery Systems

Extending Our Flavor Encapsulation Solutions

Launched superior encapsulation technologies to deliver specific flavor attributes; e.g.:

Physical form

Protection

Time release

Creating pipeline of novel delivery technologies for challenging applications

Fragrance Molecules

Strengthening Portfolio and Providing Creative Teams with a Winning Edge

Launching strong portfolio of new molecules

Over short-, mid-, and long-term

Competitive edge for Compounds

Long-term value for Ingredients

Fragrance Naturals

Introducing Novel Naturals to Differentiate Our Fine Fragrance Creation

Leveraging sustainable cultivation, extraction, and cultivation techniques

Higher-impact unique naturals

Superior olfactive profiles

Expanding global sourcing and synergies between Flavors & Fragrances

Fragrance Delivery Systems

Creating the Next Generation of Encapsulation for New Category Applications

Built market leadership in Fabric Care; adapting for Personal Wash and Hair Care

Creating proprietary delivery systems to:

Expand into additional categories Drive breakthrough performance

Strengthen our IP

Sustainability: Green Chemistry

Ensuring Our Products and Processes Set Industry-Standard in Sustainability

Reducing energy use and waste via microreactors and proprietary catalysts

New ingredients and processes are eco-efficient and “green by design”

Renewable raw materials

Energy-efficient pathways

Biodegradable

Open Innovation: Value Drivers

External Collaborations Drive Value in 3 Key Ways

1 2 3

Provide Augment & Expand

Accelerate Innovation

Guidance Internal Innovation Horizons

Open Innovation: Scientific Advisory Board

Expert Guidance and Insight on Technical Approach

Steven V. Ley, Leslie B. Vosshall, Cheryl Perkins, Brian J. Willis, Thomas D. Sharkey,

Ph.D. Ph.D. M.S. Ph.D. Ph.D.

Professor of Professor of President, Former SVP of Professor and

Organic Chemistry, Molecular and Innovationedge; R&D and Department Chair

Cambridge Receptor Biology, Former CIO, Board Member, of Biochemistry,

University, UK; The Rockefeller Kimberly-Clark Quest F&F Michigan State

Commander of University University

British Empire

Open Innovation: Biotechnology

Building Biotechnology Expertise with Industry Leaders

Natural vanillin through biotechnology

Broad collaboration to pursue other targets

Focused on sustainable, cost-stable route to key IFF Fragrance ingredients

Key Takeaways

Accelerating rate and impact of innovation

R&D well-aligned to address key customer and consumer needs

Open Innovation becoming critical driver of progress

Strong innovation pipeline building IFF’s long-term competitive advantage

Investor Day

2013

Research & Development

ANNUAL REVENUE GROWTH
	2004			2005			2006			3-Year			2007			2008			2009			3-Year			2010			2011			2012			3-Year
Total Company
Reported Sales Growth		7	%		-2	%		5	%		3	%		9	%		5	%		-3	%		4	%		13	%		6	%		1	%		7	%
Currency Impact		-5	%		-1	%		0	%					-4	%		-3	%		3	%					0	%		-2	%		3	%
Local Currency Sales Growth		2	%		-3	%		5	%		1	%		5	%		2	%		0	%		2	%		13	%		4	%		4	%		7	%
Flavors
Reported Sales Growth														12	%		9	%		-1	%		7	%		11	%		12	%		2	%		8	%
Currency Impact														-3	%		-3	%		3	%					-1	%		-3	%		3	%
Local Currency Sales Growth														9	%		6	%		2	%		6	%		10	%		9	%		5	%		8	%
Exit of Flavors Low Margin Sales Activities														0	%		0	%		0	%					0	%		0	%		3	%
Like-For-Like Local Currency Sales Growth														9	%		6	%		2	%		6	%		10	%		9	%		8	%		9	%
Fragrance Compounds
Reported Sales Growth														5	%		1	%		-4	%		1	%		14	%		4	%		3	%		7	%
Currency Impact														-4	%		-2	%		3	%					1	%		-3	%		4	%
Local Currency Sales Growth														1	%		-1	%		-1	%		0	%		15	%		1	%		7	%		8	%
Ingredients
Reported Sales Growth														9	%		5	%		-4	%		3	%		15	%		-6	%		-12	%		-1	%
Currency Impact														-4	%		-4	%		2	%					3	%		-3	%		2	%
Local Currency Sales Growth														5	%		1	%		-2	%		1	%		18	%		-9	%		-10	%		0	%
QUARTERLY REVENUE GROWTH
	Q1 2010			Q2 2010			Q3 2010			Q4 2010			Q1 2011			Q2 2011			Q3 2011			Q4 2011			Q1 2012			Q2 2012			Q3 2012			Q4 2012
Flavors
Reported Sales Growth		13	%		13	%		9	%		10	%		13	%		14	%		13	%		8	%		3	%		5	%		0	%		1	%
Currency Impact		-5	%		-2	%		1	%		1	%		-1	%		-6	%		-5	%		0	%		2	%		3	%		6	%		2	%
Local Currency Sales Growth		8	%		11	%		10	%		11	%		12	%		8	%		8	%		8	%		5	%		8	%		6	%		3	%
Exit of Flavors Low Margin Sales Activities		0	%		0	%		0	%		0	%		0	%		0	%		0	%		0	%		1	%		1	%		3	%		4	%
Like-For-Like Local Currency Sales Growth		8	%		11	%		10	%		11	%		12	%		8	%		8	%		8	%		6	%		9	%		9	%		7	%

The Company uses non-GAAP financial measures such as (i) local currency sales (which eliminates the effects that result from translating its international sales in U.S. dollars) and (ii) like-for-like sales (which excludes the impact of exiting low-margin sales activities, the impact of selling the Company’s fruit preparations business in Europe and foreign exchange) as the Company believes that these non-GAAP financial measures provide investors with an overall perspective of the period-to-period performance of our core business. 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 may not be comparable to similarly titled measures used by other companies.

Adjusted Gross Margin

(IN THOUSANDS U.S. $)	FY 2010			Q1 2013			Margin Improvement
As Reported Gross Profit		1,092,602			311,360
Operational Improvement Initiative Costs		—			1,198
Adjusted Gross Profit		1,092,602			312,558
Net Sales		2,622,862			727,836
Adjusted Gross Margin		41.7	%		42.9	%		1.2	%

The Company uses non-GAAP financial measures such as Adjusted Gross Profit and Adjusted Gross Margin (which exclude operational improvement initiative costs) as the Company believes that these non-GAAP financial measures provide investors with an overall perspective of the period-to-period performance of our core business. 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 may not be comparable to similarly titled measures used by other companies.

ADJUSTED OPERATING PROFIT

(IN THOUSANDS U.S. $)	2003		2006			3-Year CAGR			2009			3-Year CAGR			2012		3-Year CAGR
As Reported Operating Profit		285,774		331,173			5.0	%		340,288			0.9	%		486,618		12.7	%
Restructuring and Other Charges		42,421		2,680						18,301						1,668
Employee Separation Costs		—		—						6,320						—
Insurance Recovery		—		(3,565	)					—						—
Adjusted Operating Profit		328,195		330,288			0.2	%		364,909			3.4	%		488,286		10.2	%
ADJUSTED EARNINGS PER SHARE (EPS)
(PER SHARE DATA U.S. $)	2003		2006			3-Year CAGR			2009			3-Year CAGR			2012		3-Year CAGR
As Reported EPS		1.83		2.48			10.7	%		2.46			-0.3	%		3.09		7.9	%
Restructuring and Other Charges		0.29		0.02						0.19						0.01
Employee Separation Costs		—		—						0.05						—
Insurance Recovery		—		(0.03	)					—						—
Tax Settlement		—		(0.04	)					—						—
Other Income (Primarily Asset Gains)		—		(0.11	)					—						—
Spanish Tax Settlement		—		—						—						0.88
Adjusted EPS		2.12		2.32			3.1	%		2.69	¹		5.1	%		3.98		13.9	%

¹  The sum of Reported EPS plus the per share effects of items added back to reconcile to Adjusted EPS may not equal the total Adjusted EPS due to rounding differences.

ADJUSTED EFFECTIVE TAX RATE

	2004			2005			2006			2007			2008			2009			2010			2011			2012
As Reported Effective Tax Rate		30.2	%		21.6	%		28.2	%		25.3	%		19.1	%		29.3	%		26.7	%		28.6	%		42.7	%
Restructuring and Other Charges Tax Benefit		0.6	%		1.0	%		0.0	%		—			0.7	%		-0.6	%		-0.4	%		0.0	%		0.0	%
AJCA Tax Benefit		—			9.3	%		—			—			—			—			—			—			—
Tax Settlements		—			—			1.2	%		3.0	%		7.6	%		—			—			—			—
Curtailment Tax Benefit		—			—			—			0.2	%		—			—			—			—			—
Asset Gain Tax Expense		—			—			—			-0.1	%		—			—			—			—			—
Employee Separation Costs Tax Benefit		—			—			—			—			0.2	%		0.1	%		—			—			—
Shared Service Implementation Tax Benefit		—			—			—			—			0.1	%		—			—			—			—
Insurance Recovery Tax Expense		—			—			0.0	%		—			-0.2	%		—			—			—			—
Other Income (Primarily Asset Gains)		—			—			-0.3	%		—			—			—			—			—			—
Patent Litigation Settlement Benefit		—			—			—			—			—			—			—			-1.5	%		—
Spanish Tax Settlement		—			—			—			—			—			—			—			—			-16.3	%
Adjusted Effective Tax Rate		30.8	%		31.9	%		29.1	%		28.4	%		27.5	%		28.8	%		26.3	%		27.1	%		26.4	%

The Company uses non-GAAP financial measures such as Adjusted Operating Profit, Adjusted Effective Tax Rate and Adjusted EPS (which excludes the impact of our restructuring and strategic initiatives, the AJCA tax benefit, tax settlements, curtailments, gains on asset sales, employee separation costs, cost associated with the implementation of our shared services, insurance recoveries, the Mane patent litigation settlement and the Spanish tax settlement) as the Company believes that these non-GAAP financial measures provide investors with an overall perspective of the period-to-period performance of our core business. 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 may not be comparable to similarly titled measures used by other companies.

FLAVORS
(IN THOUSANDS U.S. $)	2006			2007			2008			2009			2010			2011			2012			2006 - 2009 CAGR			Since 2009
As Reported Segment Profit*		153,099			187,275			197,838			208,966			242,528			284,246			298,326			10.9	%		12.6	%
Insurance Recovery		(3,565	)		—			—			—			—			—			—
Restructuring and Other Charges		(463	)		—			3,538			—			—			—			—
Adjusted Segment Profit		149,071			187,275			201,376			208,966			242,528			284,246			298,326			11.9	%		12.6	%
Net Sales		894,775			1,005,544			1,092,544			1,081,488			1,203,274			1,347,340			1,378,377
Adjusted Segment Margin		16.7	%		18.6	%		18.4	%		19.3	%		20.2	%		21.1	%		21.6	%
FRAGRANCES
(IN THOUSANDS U.S. $)	2006			2007			2008			2009			2010			2011			2012			2006 - 2009 CAGR			2009 - 2012 CAGR
As Reported Segment Profit*		212,240			211,942			202,081			188,561			244,966			226,560			238,379			-3.9	%		8.1	%
R&D Tax Credit		2,180			—			—			—			—			—			—
Revised Reported Segment Profit		214,420			211,942			202,081			188,561			244,966			226,560			238,379
Restructuring and Other Charges		2,639			—			4,396			—			—			—			—
Adjusted Segment Profit		217,059			211,942			206,477			188,561			244,966			226,560			238,379			-4.6	%		8.1	%
Net Sales		1,200,615			1,271,094			1,296,828			1,244,670			1,419,588			1,440,678			1,443,069
Adjusted Segment Margin		18.1	%		16.7	%		15.9	%		15.1	%		17.3	%		15.7	%		16.5	%

* In the 2009 period, segment profit was referred to as adjusted operating profit and excluded amounts related to restructuring and other costs. In the 2006 - 2008 periods, segment profit was referred to as operating income and included restructuring and other costs as well as insurance recoveries.

The Company uses non-GAAP financial measures such as Adjusted Segment Profit (which excludes the impact of our restructuring and strategic initiatives and insurance recoveries) as the Company believes that these non-GAAP financial measures provide investors with an overall perspective of the period-to-period performance of our core business. 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 may not be comparable to similarly titled measures used by other companies.

ADJUSTED RETURN ON AVERAGE INVESTED CAPITAL

(IN THOUSANDS U.S. $)	2003			2004			2005			2006			2007			2008			2009			2010			2011			2012
Debt		884,535			684,926			950,673			807,340			1,212,641			1,255,654			1,011,529			921,567			894,936			1,031,175
Deferred gain on interest rate swaps		(39,685	)		(24,104	)		(2,296	)		(817	)		(151	)		(16,893	)		(14,953	)		(12,897	)		(10,965	)		(9,028	)
Cash and cash equivalents		(12,081	)		(32,596	)		(272,545	)		(114,508	)		(151,471	)		(178,467	)		(80,135	)		(131,332	)		(88,279	)		(324,422	)
Net Debt		832,769			628,226			675,832			692,015			1,061,019			1,060,294			916,441			777,338			795,692			697,725
Equity		742,631			910,487			915,347			916,056			626,359			580,642			771,910			1,003,155			1,107,407			1,252,555
Total Invested Capital		1,575,400			1,538,713			1,591,179			1,608,071			1,687,378			1,640,936			1,688,351			1,780,493			1,903,099			1,950,280
Restructuring and Other Charges, net of tax		27,514			20,370			15,857			1,982			—			12,543			14,763			8,928			9,444			1,047
AJCA Tax Benefit		—			—			(25,000	)		—			—			—			—			—			—			—
Tax Settlements		—			—			—			(3,511	)		(9,718	)		(23,070	)		—			—			—			—
Curtailment, net of tax		—			—			—			—			3,685			—			—			—			—			—
Asset Gain, net of tax		—			—			—			—			(7,719	)		—			—			—			—			—
Employee Separation Costs, net of tax		—			—			—			—			—			2,217			4,028			—			—			—
Shared Service Implementation, net of tax		—			—			—			—			—			1,377			—			—			—			—
Insurance Recovery, net of tax		—			—			—			(2,496	)		—			(1,612	)		—			—			—			—
Other Income (Primarily Asset Gains), net of tax		—			—			—			(10,068	)		—			—			—			—			—			—
Patent Litigation Settlement, net of tax		—			—			—			—			—			—			—			—			29,846			—
Spanish Tax Settlement		—			—			—			—			—			—			—			—			—			72,362
Total Non-recurring Items		27,514			20,370			(9,143	)		(14,093	)		(13,752	)		(8,545	)		18,791			8,928			39,290			73,409
Cumulative Non-recurring Items		27,514			47,884			38,741			24,648			10,896			2,351			21,142			30,070			69,360			142,769
Adjusted Total Invested Capital		1,602,914			1,586,597			1,629,920			1,632,719			1,698,274			1,643,287			1,709,493			1,810,563			1,972,459			2,093,049
As Reported Operating Profit					310,279			266,876			331,173			361,213			355,133			340,288			416,361			427,729			486,618
Restructuring and Other Charges					31,830			23,319			2,680			—			18,212			18,301			10,077			13,172			1,668
Curtailment					—			—			—			5,943			—			—			—			—			—
Employee Separation Costs					—			—			—			—			3,391			6,320			—			—			—
Shared Service Implementation					—			—			—			—			2,079			—			—			—			—
Insurance Recovery					—			—			(3,565	)		—			(2,600	)		—			—			—			—
Patent Litigation Settlement					—			—			—			—			—			—			—			33,495			—
Adjusted Operating Profit					342,109			290,195			330,288			367,156			376,215			364,909			426,438			474,396			488,286
As Reported Effective Tax Rate					30.2	%		21.6	%		28.2	%		25.3	%		19.1	%		29.3	%		26.7	%		28.6	%		42.7	%
Restructuring and Other Charges Tax Benefit					0.6	%		1.0	%		0.0	%		—			0.7	%		-0.6	%		-0.4	%		0.0	%		0.0	%
AJCA Tax Benefit					—			9.3	%		—			—			—			—			—			—			—
Tax Settlements					—			—			1.2	%		3.0	%		7.6	%		—			—			—			—
Curtailment Tax Benefit					—			—			—			0.2	%		—			—			—			—			—
Asset Gain Tax Expense					—			—			—			-0.1	%		—			—			—			—			—
Employee Separation Costs Tax Benefit					—			—			—			—			0.2	%		0.1	%		—			—			—
Shared Service Implementation Tax Benefit					—			—			—			—			0.1	%		—			—			—			—
Insurance Recovery Tax Expense					—			—			0.0	%		—			-0.2	%		—			—			—			—
Other Income (Primarily Asset Gains)					—			—			-0.3	%		—			—			—			—			—			—
Patent Litigation Settlement Benefit					—			—			—			—			—			—			—			-1.5	%		—
Spanish Tax Settlement					—			—			—			—			—			—			—			—			-16.3	%
Adjusted Effective Tax Rate					30.8	%		31.9	%		29.1	%		28.4	%		27.5	%		28.8	%		26.3	%		27.1	%		26.4	%
Adjusted Operating Profit After Tax					236,739			197,623			234,174			262,884			272,756			259,815			314,285			345,835			359,378
Adjusted Return on Invested Capital *					14.8	%		12.3	%		14.4	%		15.8	%		16.3	%		15.5	%		17.9	%		18.3	%		17.7	%

* Return on average invested capital is defined as adjusted operating profit after tax divided by 2-year average adjusted invested capital.

The Company uses non-GAAP financial measures such as Adjusted Return on Invested Capital (ROIC) (which excludes the net impact of our restructuring and strategic initiatives, the AJCA tax benefit, tax settlements, curtailments, gains on asset sales, employee separation costs, cost associated with the implementation of our shared services, insurance recoveries, the Mane patent litigation settlement and the Spanish tax settlement) as the Company believes that these non-GAAP financial measures provide investors with an overall perspective of the period-to-period performance of our core business. 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 may not be comparable to similarly titled measures used by other companies.

WORKING CAPITAL EFFEICIENCY

(IN THOUSANDS U.S. $)	Q4 2011			Q1 2012			Q2 2012			Q3 2012			Q4 2012
Trade Receivables (1)		478,177			527,709			523,389			543,133			508,736
Inventories		544,439			555,017			539,267			547,676			540,658
Accounts Payable		(208,759	)		(189,223	)		(169,673	)		(160,956	)		(199,272	)
Core Working Capital		813,857			893,503			892,983			929,853			850,122
FY 2012 Net Sales														2,821,446
Core Working Capital as a % of Net Sales*														31.1	%
(IN THOUSANDS U.S. $)	Q4 2010			Q1 2011			Q2 2011			Q3 2011			Q4 2011
Trade Receivables (1)		460,274			528,541			553,335			524,893			478,177
Inventories		531,675			559,550			568,162			534,765			544,439
Accounts Payable		(200,153	)		(185,205	)		(166,438	)		(180,931	)		(208,759	)
Core Working Capital		791,796			902,886			955,059			878,727			813,857
FY 2011 Net Sales														2,788,018
Core Working Capital as a % of Net Sales*														31.1	%
(IN THOUSANDS U.S. $)	Q4 2009			Q1 2010			Q2 2010			Q3 2010			Q4 2010
Trade Receivables (1)		456,674			480,553			486,638			521,524			460,274
Inventories		444,977			446,912			454,608			503,991			531,675
Accounts Payable		(161,027	)		(154,451	)		(155,056	)		(169,652	)		(200,153	)
Core Working Capital		740,624			773,014			786,190			855,863			791,796
FY 2010 Net Sales														2,622,862
Core Working Capital as a % of Net Sales*														30.1	%
(IN THOUSANDS U.S. $)	Q4 2008			Q1 2009			Q2 2009			Q3 2009			Q4 2009
Trade Receivables (1)		412,127			430,219			484,550			490,549			456,674
Inventories		479,567			452,282			441,007			435,744			444,977
Accounts Payable		(114,997	)		(95,303	)		(117,892	)		(140,597	)		(161,027	)
Core Working Capital		776,697			787,198			807,665			785,696			740,624
FY 2009 Net Sales														2,326,158
Core Working Capital as a % of Net Sales*														33.5	%
(IN THOUSANDS U.S. $)	Q4 2007			Q1 2008			Q2 2008			Q3 2008			Q4 2008
Trade Receivables		412,221			464,251			477,195			470,363			412,127
Inventories		484,222			512,034			525,651			509,281			479,567
Accounts Payable		(130,992	)		(133,236	)		(137,178	)		(115,511	)		(114,997	)
Core Working Capital		765,451			843,049			865,668			864,133			776,697
FY 2008 Net Sales														2,389,372
Core Working Capital as a % of Net Sales*														34.4	%

* Core working capital as a % of net sales is defined as 5-quarter average core working capital divided by full year net sales

(1) Q1 2013, Q1 - Q3 2011, Q1 - Q4 2010 and Q4 2009 have been revised to be consistent with other periods presented.

ADJUSTED CASH FLOWS FROM OPERATIONS
(IN THOUSANDS U.S. $)	2004		2005		2006		2004 - 2006		2007		2008		2009		2007 - 2009		2010		2011		2012		2010 - 2012
Cash Flows Provided By Operating Activities		295,847		177,160		281,619		754,626		314,062		220,613		291,637		826,312		315,136		189,190		323,796		828,122
Payments Pursuant To Patent Litigation Settlement		—		—		—				—		—		—				—		39,995		—
Payments Pursuant To Spanish Tax Settlement		—		—		—				—		—		—				—		—		105,503
Adjusted Cash Flows Provided By Operating Activities		295,847		177,160		281,619		754,626		314,062		220,613		291,637		826,312		315,136		229,185		429,299		973,620

The Company uses non-GAAP financial measures such as adjusted cash flows provided by operations (which excludes payments made related to the Mane patent litigation settlement an Spanish tax settlement) as the Company believes that these non-GAAP financial measures provide investors with an overall perspective of the period-to-period performance of our core business. 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 may not be comparable to similarly titled measures used by other companies.