Investor relations presentationDecember 2020

Croda International Plc

Our response to COVID-19

2

Top 3 priorities Treating all our stakeholders fairly

1. Health and Safety

2. Performance

3. Planning ahead

Objective: Live up to our Purpose – using Smart Science to Improve LivesTM

Employees

No job losses,

furlough or

salary

reductions

Financial

assistance

providedLocal

Communities

Shareholders

Paid final &

interim

dividends

Flexible

payment termsCustomers and

suppliers

3

Smart Science to Improve LivesTM

Growth Innovation Sustainability

Personal Care

Strengthen to grow

Life Sciences

Expand to grow

Performance

Technologies

Refine to grow

Scale drug

delivery

More proactive

M&A“Fast grow” Asia

Scale

biotechnologyAccelerate digital

Our purpose

Strategy

Sector strategies

Priorities

Our strategy

Our Sustainability strategy

4

Innovation, technology & customer-driven

By 2030

Climate, Land

& People Positive

Climate

Positive

Enable more

carbon to be saved

than we emit

Land

Positive

Enable more land

to be saved than

we use to grow our

bio-based materials

People

Positive

Apply our innovations

to increase our positive

impact on society

Creating new markets

• Life Sciences: Expand to grow

• Personal Care: Strengthen to grow

• Performance Technologies: Refine to grow

Our priority SDGs

63%

10%Industry average

51

33

20

14 14 13 12 11 11

6 6 5 5 4 4 2

Other European chemical companies

21%

11%11%

6%0.2%0%0%0%

Other chemical companies

Croda – already a leader in Sustainability

5

B-B-B

77%

AAA

12th/120

39th/3200

11th

Top 5%

Clearly differentiated

*Source: ECHA, ChemSec SIN list, J.P. Morgan. Number of chemicals on REACH Substances of Very High Concern (SVHC) lists Source: Accenture

Lower hazard chemistry*

Sector leading renewable energy use

Bio-based organic raw materials

Externally recognised by rating agencies

Recognised by Accenture for climate leadership

SCORE CRODA

Other chemical companies

A B C D E F G

Carbon

reductionOut of 4 4 1 2 0 2 3 2 4

Carbon

offsetOut of 2 1 0 0 0 1 0 0 2

Wider

leadershipOut of 4 3 0 3 1 3 1 2 3

No

. o

f h

igh

-ha

zard

ch

em

icals

Embedding Sustainability through acquisition and partnership

6

CAGR is compound annual growth rate

2012 Over £500m of investment 2020

Biosector vaccine adjuvants

40% of new Beauty Active

product launches

IRB plant stem cell cultures

High single digit %

growth in field crops

Incotec seed coatings

US$20m pa pipeline

100% bio-based surfactants

25% growth H1 2020

Double digit % future growth

Avanti lipid nanoparticles

Mid-teen CAGR

Biosector

• Leadership

– Executive Committee

champion – sole remit

– Sustainability KPIs for

leadership remuneration

– Engaged employees

• Land Positive

– Accelerating crop innovation

to boost yields and save land

– Developing technologies

to respond to the impact of

climate change on land use

• Climate Positive

– Sustainable products that

save customers carbon

– Decarbonising Croda

– Transition to bio-based

• People Positive

– Saving lives in Health Care

– Improving lives of employees,

partners and communities

– Increasing diversity

and inclusion

Embedding Sustainability through delivering our Commitment

7

*Source: United Nations Development Programme

8

Delivering customer opportunities from Sustainability

Regulatory changes, customer demand and market disruption will drive significant

opportunities to 2030 and beyond

$12tn The UN SDGs are forecast to generate $12 trillion in global opportunities*

Ingredient

Integrity™

Our consumer markets need innovative sustainable products from bio-based,

traceable ingredients, produced with less emissions and saving consumer carbon

Our Life Sciences sector will drive improved health and well-being, while increasing

crop yields and saving land

Double-digit growth potential in high-value Health Care niches

Moving from consumer health to patient health

Standard

Excipients

Consumer

Health

Enhanced active performance

Speciality

Excipients

Vaccine

Adjuvants

Biologics requiring

injectable delivery

Development of

next generation

therapeutics

Concern around

drug safety

and integrity

Lipid

Nano-

particles

Growth in biotech

providing significant

formulation challenges

Key trends

9

Capturing increased value across the Health Care continuum

Building drug delivery platforms for added value

COVID-19 RNA delivery system timeline

10

1. Pre COVID-19: Avanti

supplying Lipid

NanoParticles (LNPs) for

clinical trials to mRNA

drug developers

2. COVID-19 outbreak: mRNA

vaccine candidates fast-tracked to

phase II trials – Avanti: key GMP

producer of delivery systems

3. Avanti needed scale-up

partner: Croda engaged for

R&D capability & lipid capacity

4. Croda rapidly re-designed component

production process – GMP scale-up in 4

months to support phase III trials; redeployed

R&D and engineering capability; fast-tracked

plant investment

5. Croda/Avanti secured

contract to supply 4 delivery

system components to Pfizer

for COVID-19 vaccine;

regulatory approval pending

A drug

development

process that

usually takes

between 7 - 10

years reduced to

less than a year

Adapted from PhRMA (Pharmaceutical Research and Manufacturers of America). GMP is Good Manufacturing Practice, the highest quality and regulatory standards for pharmaceutical production.

Acquisition of Iberchem, a global F&F specialist

11

Compelling strategic rationale

1. Excellent financial track record

2.Access to high growth adjacency with significant

emerging markets exposure

3. Creates a one stop shop for Consumer Care customers

4. Proven, agile and responsive customer-centric model

5. Dynamic, customer-driven R&D focus

Strong financial rationale

1.EPS accretive from year 1 and strongly

accretive thereafter

2. Significant medium and long-term revenue synergies

3. Capital-light; strong cash conversion

4.Acquisition ROIC to exceed Croda cost of capital

within 5 years

Sales by region(2)

14Manufacturing

facilities

€187mrevenues in 2020F

Source: company information, financials as per management accounts (unaudited)(1) Based on countries where Iberchem’s products are sold(2) FY 2019A; rounded number

(3) As at August 2020; rounded number(4) Active customers (with accounting sales during the year) for 2019A; rounded to the nearest 100

Iberchem: a global fragrance-led company with distinctive positioning

Selling into

Murcia, Spain

+14% growth

(CAGR 2016-20F)

€40mEBITDA in 2020F

21%

EBITDA margin

10 Creative and

R&D centres

850 FTEs(3)

Sales by division(2)

Personal Care Fragrances 40%

Home Care Fragrances

40%

Flavours 20%

36,500 Fragrance

references

18,000 Flavour

references

3,600 customers(4)

12

25%of total Iberchem

sales to China

83%of total Iberchem sales

to emerging markets

~120countries(1)

Headquartered in

Asia 36%

Africa 22%

Middle East 17%

Europe 17%

LatAm 8%

Access to 3,000 fragrance customers

particularly in high growth emerging

markets such as Middle East,

North Africa and certain countries

in Asia and Latin America

Access to Croda’s base of 5,900

Personal Care and Home Care customers,

particularly in North America

• New one stop shop in

Consumer Care markets

• Combines Croda’s formulation

capability with Iberchem’s expertise

• Particularly attractive to regional,

“own-brand” and independent customers

1. Creating a new full service

formulation and fragrance offer

2. Significant cross-selling opportunities:

Iberchem to leverage Croda’s global network3. Significant cross-selling opportunities:

Croda to access Iberchem fragrance customers

13

Strong financial fundamentals and significant revenue synergies

Targeting €25m annual revenue synergies by year 3 and €48m by year 5

Organic revenue(1)

growth EBITDA(2) margin Cash conversion(3)

Net working capital

as % sales Capex as % sales

2019A 20.0% 19.7% 85.3% 25.5% 2.9%

2020F 7.4% 21.2% 84.5% 28.8% 3.3%

Strong financial fundamentals

Source: company information, financials as per management accounts (unaudited);

customer numbers rounded to the nearest 100

(1) 2019: including net sales contribution of Flavour Inn Corporation

and Duomei from September 2019 and December 2019, respectively

(2) EBITDA including IFRS 16 impact from 2019A onwards, stock margin intercompany

adjustments, and 2019A acquisitions proforma impact

(3) Cash conversion defined as (EBITDA – capex) / EBITDA per Iberchem definition

Core Business

Beauty ActivesBeauty

Effects

Beauty

Formulation

Fragrances

(Iberchem)Home Care

Life

Sciences

Performance

Technologies

Industrial

Chemicals

Consumer

Care

Driving our focus on Consumer Care

14

• Group’s Core Business will

comprise 3 sectors:

– Consumer Care

– Life Sciences

– Performance Technologies

• New Consumer Care sector

from 2021

• Comparative 2020 numbers to be

included at Croda’s Full Year 2020

results, February 2021

• +1% Core Business sales

• Personal Care sales -5%; product mix leading to modest

margin dilution, as seen in first half

• Performance Technologies sales -5%; profitability

continuing to be impacted by higher operating leverage

• +18% sales in Life Sciences; Crop Protection phasing &

strong organic growth in Health Care. Continuing margin

development

• North America & Latin America returned to growth; Europe

remained behind prior year; Asia broadly flat, with China

continuing to grow

• Trading in line with expectations - steady month-on-month

recovery in both consumer & industrial markets

• Overall trading outlook for full year unchanged

• Higher forecast full year charge for groupwide share-based

payment schemes due to share price performance

Trading update: 4 months to Oct ‘20

15

Full year 2020 outlook

Trading update for the 4 months to 31 October 2020 in constant currency, excluding impact of acquisitions. % change is compared with the same period last year

16