Financial Results – Q3 2012

FORWARD-LOOKING STATEMENTS

This presentation includes statements data, forecasts, goals and Company plans that are "forward-looking

statements“, as defined in the Securities Law - 1968, whose occurrence is not certain and which are not solely in the

Company's control. These forward-looking statements are included, inter alia, in discussions of strategy, objectives,

goals, plans, events, future intentions or other information relating to future events or issues whose occurrence is

not certain.

By their nature, forward-looking statements involve risk and uncertainty. Whether the forward looking information

occurs or not is affected, inter alia, by risk factors characteristic to the Company's operations and developments in

the general environment and external factors which impact the Frutarom Group and its area of activities.

This forward looking information could include facts and data based on the Company's subjective assessment,

including with regards to the current status of the Company and its business, the current situation in the industry in

which the Frutarom Group operates, macro-financial facts and information, all as are known to the Company on the

date on which this presentation was prepared, some of which were given to the Company by external sources, the

content of which was not independently examined by the Company, and therefore the Company is not responsible

for their verity.

This presentation must be read together with the Company's periodic and immediate reports, and was not meant to

replace the need for study of reports the Company has published, including, inter alia, the Company's periodic

report for 2011, published on March 15, 2012, and the Company's periodic reports subsequently published. These

reports could include, inter alia, updates to the information regarding the Company's activities or of the forward

looking statements appearing in this presentation.

Subject to the requirements of applicable law, the Company does not intend to update any industry information or

forward-looking statements appearing in this presentation, and is not required to publish any additional

presentations for its shareholders in future.

Frutarom’s Foundations

Founded in 1933, Frutarom combined the cultivation of aromatic

plants and flowers with the extraction and distillation of flavors,

fine ingredients and essential oils.

A Leading Global Flavor and Fine Ingredient House

• Sales in 130+ countries

• 14,000+ customers Global

Company

• 30,000+ products

• 4,000+ raw materials

Broad Product Portfolio

• Listed on London and Tel Aviv Stock Exchanges (FRUT)

Public Company

• Since 2000

• 6.5x growth in sales

• 9x growth in EBITDA

• 11.5x growth in net profit

Financial

Success

-50

50

150

250

350

450

550

650

Revenue, $M

4

Who We Are

* 2011, Proforma

Frutarom - A Global Company

5

Accelerated growth - organic and through strategic acquisitions

Sales office acquisition

1996 Tel Aviv stock

exchange

IFF FS

Gewurzmuller

Adumim

Raychan

Rieber

EAFI

Savoury Flavours

Oxford

Balmey

Jupiter

FSI Corona

Nesse

CH Hansen

DE

CH Hansen

IT

Etol

Mylner

Aromco

FSI OH

Acatris

Flachsmann

Abaco

Tohar

Meer

Rayner HK F&F

CPL Aroma Flavour key

Baltimore

Botanicare Kunshan

AM Todd

Rad London stock

exchange

Russia

Canada

Turkey

France Mexico

Ukraine

Poland

Kazakhstan

Hong Kong

Costa Rica

Czech Rep.

S. Africa

India

Brazil

2006 2007 2009 2012 1990-2000 2003 2004 2011 2001-2002 2005

Sales and Marketing – 50 Offices

Production – 27 Sites R&D – 28 Labs

A Global Company We provide our customers with global and local support

Belgium

Brazil

China

Denmark

France

Germany

India

Indonesia

Israel

Italy

Kazakhstan

Mexico

Netherlands

Norway

Poland

Serbia

Singapore

Slovakia

Slovenia

South Africa

Turkey

Ukraine

UK South

UK North

Corona, CA NB, New Jersey

Cincinnati, OH Switzerland

Moscow Saint Petersburg

Perm Saratov

Hong Kong

Costa Rica

Georgia

Estimated Flavor Sales

(US$ M*)

A Top-Ten Flavor House

Source: Public reports of relevant companies, Leffingwell & Associates. JP Morgan, Deutsche Bank

* Based on 2011 results 7

500+ smaller

companies

-

500

1,000

1,500

2,000

2,500

Asia

• Expanding R&D and sales force in China, Indonesia, Philippines, Thailand, Vietnam

• Building a state-of-the art, high-capacity plant in China with both traditional and savory flavor capabilities

Central and Eastern Europe

• Strengthening R&D and Application Centers in Russia, Ukraine, and Kazakhstan

• Strong base in central Europe

• Evaluating additional acquisitions and local production opportunities

Central & South America

• Strong base in Brazil

• Expanding penetration

• Investment in R&D and Applications Centers in Mexico & Costa Rica

• Evaluating acquisition opportunities

Africa

• Production, R&D and Application Center

• Evaluating acquisition opportunities

Towards Accelerated Penetration of Emerging Markets

8

1996 Tel Aviv stock

exchange

IFF FS

Gewurzmuller

Adumim

Raychan

Rieber

EAFI

Savoury Flavours

Oxford

Balmey

Jupiter

FSI Corona

Nesse

CH Hansen

DE

CH Hansen

IT

Etol

Mylner

Aromco

FSI OH

Acatris

Flachsmann

Abaco

Tohar

Meer

Rayner HK F&F

CPL Aroma Flavour key

Baltimore

Botanicare Kunshan

AM Todd

Rad London stock

exchange

Russia

Canada

Turkey

France Mexico

Ukraine

Poland

Kazakhstan

Hong Kong

Costa Rica

Czech Rep.

S. Africa

India

Brazil

9

Frutarom - A Global Company

109 81

10

197 244

425 518

Net Profit 2000-2011

X11.5

EBITDA Profit 2000-2011

X9

Sales 2000-2011

X6.5

(Sales, EBITDA, Net Profit, USD M)

1990 2000 2002 2004 2005 2009 2011

4 6

18

27

33

42

9 14

32

43

66

80

In 12 months* Frutarom completes 8 acquisition

2010 Total revenues of acquired companies – over $145M*

Enhancing savory activity

and presence in the UK

and emerging markets,

synergistic to UK savory

activity

Reinforcing Savory

position in Europe and

emerging markets

Strategic move to

strengthen Central- and

Eastern European

leadership; Diversified

natural product portfolio

Strengthening US activity

include. Savory &

innovative products,

penetration to the

food service sector

Supporting growth in

emerging markets,

synergistic to UK activity,

diversified technology base

First significant entry to

the flavors market in Brazil.

Important base for

expansion in LA

Enhancing savory activity in

UK market; synergistic to

UK savory activity

Reinforcing European

savory activity with focus

on Scandinavian market

*Jan 2011- Jan 2012

The Acquisitions’ Contribution

• The integration of the 8 acquisitions is progressing successfully as

planned:

- Merging Sales and R&D activities

- Optimizing production, supply chain and logistics infrastructures

• The acquisitions created opportunities for further improvement in profit

and profitability:

- Merging production sites/activities

- Transfer activities to lower cost countries

- Improvement in service and supply chain efficiencies

- Global logistics

Expected savings of ~ US$ 10 M annually starting H2 2013 and mainly in 2014

• Strengthening Global purchasing

- Harmonization of raw materials and suppliers

- Leveraging our much stronger global purchasing power

Acquisitions are already contributing to sales & profit -

higher contribution to profit and profitability is expected in 2013

67.2 102.9

214.6

316.7

386.9

473.1

2000 9M 2003 9M 2006 9M 2009 9M 2011 9M 2012 9M

21.3

42.4

71.3

111.6

135.3

157.1

2000 Q3 2003 Q3 2006 Q3 2009 Q3 2011 Q3 2012 Q3

Fast Growth in Sales

Revenues Q3

(US$ M)

12 * Growth in local currency terms; in dollar term sales grew by 16.2%

** Growth in local currency terms; in dollar term sales grew by 22.3%

Revenues 9M

Record high in sales despite challenging market conditions & Currency effect

(US$ M)

7.3

10.0 11.3

15.3

Q3 2006 Q3 2009 Q3 2011 Q3 2012

11.8

47.2

77.3

96.9

114.2

Q3 2002 Q3 2006 Q3 2009 Q3 2011 Q3 2012

Flavors - Most Profitable Activity Growing Fast

13

Revenues Q3

(US$ M)

Share

of total

sales

• Internal growth above

average market growth

rates

• USA, Latin America,

Asia, Central and

eastern Europe, Africa

72.7%

42.8%

Operating Profit Q3

14.7%

14.5%

* Growth in local currency terms; in dollar term sales grew at 17.8%

Growth was driven by

(US$ M)

** Net of acquisitions and currency effect

71.7%

141.8

174.8

2011 9M 2012 9M

47.7

58.1

2011 Q3 2012 Q3

Record in Gross Profit

14

Gross Profit Q3 Improvement is driven by:

Adjusting selling prices

Stabilization and some decrease in raw

material prices

Strengthening global purchasing

Substantial increase in purchasing power

35.2%

37.0%

Gross

profitability

Further actions to improve profitability

Operational synergies, including from

recent acquisitions

Gross Profit H1

(US$ M)

36.7%

36.9%

Gross

profitability

(37.9% net of

Etol’s trade

& marketing

activity)

(38.5% net of

Etol’s trade

& marketing

activity)

Adjusting selling prices

Harmonization of raw materials (US$ M)

8.8 15.4

37.2

50.2

62.3

79.8

2000 9M 2003 9M 2006 9M 2009 9M 2011 9M 2012 9M

1.9

5.3

11.8

18.3 18.6

26.3

2000 Q3 2003 Q3 2006 Q3 2009 Q3 2011 Q3 2012 Q3

Record in EBITDA (US$ M)

16.7%

13.7%

15

16.9%

16.1%

EBITDA Q3 EBITDA 9M

Record in Net Profit and EPS

16

Net Profit Q3 Net Profit 9M

(US$ M)

0.15 0.59 0.72 0.25 EPS ($) EPS ($)

(US$ M)

6.4%

9.2% 8.8%

8.8%

2011 9M 2012 9M

85

147

183

245

2009 2010 2011 2012 9M

Profitable Growth Generates Strong

Balance Sheet & Cash Flow from Operations

(USD M)

Cash flow

• $ 245 M – Cumulative cash flow

since 2009.

• Q3: $ 22.7 M vs. $ 16.6 M

• 9M: $ 62.6 M vs. $ 32.5 M

Balance Sheet

• Net debt (30.9.2012): USD 152.2 M

• Equity (30.9.2012) - USD 434.7 M

Cumulative Cash Flow

17

Above-Industry

Organic Growth

Frutarom’s Strategy

Proven

Acquisition

Track Record

Margin

Expansion

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

• Again doubling our revenue to reach $1 billion within 4 years, while continuously expanding margins

18

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

Customer

Focus

Mid-sized and local

Private label

Multinational

Market

Focus

Developed markets (Europe and USA)

Emerging markets (e.g. Asia, Central & South America,

Central and Eastern Europe, Africa)

Product

Portfolio

Natural (extracts, fruit bases specialty essential oils)

Natural functional food ingredients

Comprehensive, integrated solutions

Cost reduction solutions

Core

Competencies

R&D and innovation – internal and external

Efficiencies, scale and synergies – cross selling

Experienced global management

Sales-driven organization 19

32 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

Proven Acquisition

Track Record

Positive Outlook for 2013

Profitable internal growth

Continue updating selling prices

Strengthening & leveraging global purchasing

Successful integration of the 8 acquisitions

Additional projects to improve efficiency and

merge activities and operations

Strong acquisitions’ pipeline

Frutarom’s Vision

To Be The Preferred Partner For

Tasty And Healthy Success

22