Investor Presentaiton

Scale Vanillin business Focus on and grow the Vanillin business Key initiatives in Vanillin business Natural Vanilla Vanilla flavor/ fragrance (natural and synthetic) Ex-ONCB process (potentially carcinogenic; less cost effective; higher pollution) Fragmented market Synthetic Vanilla Ex-catechol process (preferred manufacturing route; constrained by availability of Catechol) Dominated by players with access to Catechol Vanillin Ethyl Vanillin • Process patent for conversion of Catechol to Guaiacol which is an intermediate compound to Vanillin (applied for) • Proposed plant at Dahej will add capacity for manufacturing of Vanillin and Ethyl Vanillin Key USP offered by CFS • Vanillin manufactured through ex-catechol process; complete traceability of raw material CFS, with access to Catechol, is setting up own/ contract manufacturing capacity to manufacture Vanillin and Ethyl Vanillin 19 CFS Camlin Fine Sciences

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