Exhibit 99.2
Fourth Quarter 2020 Investor Presentation
2 FORWARD-LOOKING STATEMENTS This document contains statements that may constitute “forward-looking
statements” within the meaning of Federal securities laws including under “2021 Financial 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, the availability of 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, acquisition and divestiture activities, and operational improvement plan; 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 presentation contains time-sensitive 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 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, adjusted EBITDA, and adjusted diluted earnings per share (which exclude divestiture & other related costs, operational improvement plan costs, the
results of operations divested or to be divested, and the one-time COVID-19 employee payment), (2) adjusted results by segment (which exclude divestiture & other related costs, operational improvement plan costs, the results of operations
divested or to be divested, and the one-time COVID-19 employee payment), (3) percentage changes in revenue, operating income, diluted earnings per share, and EBITDA on an adjusted local currency basis (which eliminate the effects that result
from translating its international operations intoU.S. dollars and exclude divestiture & other related costs, operational improvement plan costs, the results of operations divested or to be divested, and the one-time COVID-19 employee
payment), and (4) 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 & other related costs,
operational improvement plan costs, and the one-time COVID-19 employee payment). 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 presentation 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 presentation for reconciliations and additional information.
4 Over 135 years of Industry Leadership Established in 1882 as Meadow Springs DistilleryEvolved
into Universal Foods as a diversified food and ingredients companyName changed to Sensient Technologies Corporation in 2000Today, we are a provider of advanced technologies, serving markets with strong growth profiles through delivery of
customized solutions for food and beverages, pharmaceutical, personal care, and other applications
5 Innovative Technologies Creating Unique Solutions Applications expertise and solutions-based
sellingHigh impact relative to costTechnically-driven products that are difficult to replace Strong consumer trendsOpportunities to grow organically and through M&A
6 Focusing our portfolio and strengthening our commitment to the end markets Investing in core
focus areas of Flavors and Extracts, Natural Ingredients, 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 Color Group2020 Revenue: $501M 2020 Adj. Revenue*: $487M Core Areas of Focus: Food and
Pharmaceutical Colors and Personal CareFlavors & Extracts Group2020 Revenue: $742M 2020 Adj. Revenue*: $642MCore Areas of Focus: Flavors and Extracts, Natural Ingredients, and Other Flavor IngredientsAsia Pacific Group2020 Revenue: $121M
2020 Adj. Revenue*: $121M Core Areas of Focus: Flavors and Colors for food and beverage Global Revenue by Group 2020 Global Revenues include intercompany sales which are eliminated on a consolidated basis.*Adj. Revenue is a Non-GAAP metric,
please see our GAAP to Non-GAAP Reconciliation at the end of this document.
8 Global market leaderNatural color innovatorUnmatched innovation & applications
expertise Color Group
9 Color Overview Food and Pharmaceutical 69% of Segment Revenue 71% of Adj. Segment Revenue LC
Revenue Change Q4 ’20 +4.4%YTD ’20 +3.6% Market trend toward natural colors in food and beverageUnique value proposition for Pharmaceutical customers includes colors, flavors, coatings, and extracts Personal Care 28% of Segment Revenue 29%
of Adj. Segment Revenue LC Revenue Change Q4 ’20 (6.4%)YTD ’20 (9.8%) Demand for innovative products with multiple benefitsProduct line includes formulation aides and ingredients for color cosmetics, hair care, and skin care2020 results
impacted negatively by lower demand due to COVID Inks 3% of Segment Revenue Completed divestiture in June 2020 2020 Revenue: $501M 2020 Adj. Revenue*: $487M *Local-currency (LC) revenue and adjusted revenue are Non-GAAP metrics,
please see our GAAP to Non- GAAP Reconciliation at the end of this document.
10 Flavors & Extracts Group Broad product offeringUnique ability to service global, regional, and
local customersLeading technology platformsUnmatched applications expertise
11 Flavors & Extracts Overview Flavors, Extracts, and Flavor Ingredients 54% of Segment Revenue
62% of Adj. Segment Revenue LC Revenue Change Q4 ’20 +11.5%YTD ’20 +6.1% Opportunities for on trend products with extracts, taste modulation, and natural flavors Natural Ingredients 33% of Segment Revenue 38% of Adj. Segment
Revenue LC Revenue Change Q4 ’20 +17.8%YTD ’20 +13.6% Leading provider of dehydrated onion, garlic, and other products Fragrances 11% of Segment Revenue LC Revenue Change Q4 ’20 +2.2%YTD ’20 (1.4%) Targeted for divestiture;
expected to close first half of 2021 Yogurt Fruit Prep 2% of Segment Revenue Completed divestiture in September 2020 2020 Revenue: $742M 2020 Adj. Revenue*: $642M *Local-currency (LC) revenue and adjusted revenue are Non-GAAP
metrics, please see our GAAP to Non- GAAP Reconciliation at the end of this document.
12 Asia Pacific Group 2020 adjusted revenue of $121 million and adjusted operating income of $22
millionSensient’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 ChinaQ4 2020 local currency adjusted revenue and operating profit improved 2.8% and 7.8%, respectively, and on a full year basis 3.0% and 14.3% * Adjusted revenue, adjusted local currency
revenue, and adjusted operating income are Non-GAAP metrics. Please see our GAAP to Non-GAAP Reconciliation at the end of this document.
13 2020 Highlights * Local-currency adjusted revenue is a Non- GAAP metric. Please see our GAAP to
Non- GAAP Reconciliation at the end of this document. Achieved mid-single digit local currency adjusted revenue growth Delivered at the top end of EPS guidance for 2020Flavors & Extracts group delivered double digit profit growth in 2020
Completed the divestiture of the inks and yogurt fruit prep product linesSigned a definitive agreement to divest the fragrances product line with anticipated closure in the first half of 2021
14 2020 Q4 Segment Results Local Currency Adjusted
Revenue* Q4 YTD Color 1.1% (0.7%) Flavors & Extracts 14.0% 8.8% Asia Pacific 2.8% 3.0% Color Group fourth quarter revenue increased due to continued growth in Food and Pharmaceutical colors, partially offset by lower
volume in makeup in Personal Care due to ongoing COVID impacts. Operating income was up in the quarter due to product mix in Food and Pharmaceutical colors and impacts from cost containment actions.Flavors & Extracts Group reported higher
revenue in the quarter as a result of solid sales in Natural Ingredients and a continued increase in sales of Flavors, Extracts, and Flavor Ingredients.Operating income was up as a result of the higher volumes, product mix shift to more value
added solutions, and the realized benefits from ongoing cost control efforts.Asia Pacific Group fourth quarter revenue increased; however, COVID continues to impact the group in certain regions. Operating income improved substantially due to
volume growth and the Group’s cost control plans yielding results. Local Currency Adjusted Operating Income* Q4 YTD Color 0.5% (2.4%) Flavors & Extracts 54.9% 13.1% Asia Pacific 7.8% 14.3% * Local-currency adjusted
revenue and adjusted operating income are Non-GAAP metrics.Please see our GAAP to Non-GAAP Reconciliation at the end of this document.
15 2020 Q4 Consolidated Results Q4 YTD Local Currency Adjusted Revenue* +7.9% +4.3% Local
Currency Adjusted Operating Income* +19.2% +0.4% Local Currency Adjusted Diluted EPS* 0.0% (3.4%) Local Currency Adjusted EBITDA* +16.9% +3.2% Q4 consolidated revenue was up due to double digit growth in the Flavors & Extracts
Group and Food and Pharmaceutical colors was up mid-single digits. Consolidated revenue continues to be negatively impacted by COVID, particularly in our Personal Care business and certain countries within Asia Pacific.Q4 consolidated operating
income was up due to volume growth in Flavors, Extracts, and Flavor Ingredients and Food and Pharmaceutical colors, portfolio mix shift to value added product solutions in the Flavors & Extracts Group, and the realized benefits from our
cost control initiatives. The operating income improvement was partially offset by lower volume in Personal Care, higher year-over-year Corporate expenses related to performance-based compensation, and higher Natural Ingredient raw material
costs. * 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.
16 Capital Allocation Prioritize ROI capital projects Maintain dividend payout ratio Debt reduction
to maintain targeted leverage Maintain financial flexibility to pursue M&A Excess capital returned to shareholders through opportunistic share
repurchases $50 $87 $50 $54 $57 $81 $56 $51 $39 $52 $31 $25 $9 $87 $118 $77 $62 $66 2017 2018 2019 2020 $- $50 $100 $150 $200 $250 2016 DOLLARS IN
MILLIONS Share Repurchase Acquisitions Dividends Debt Repayments Capital Expenditures
17 2021 Financial Outlook * Local-currency adjusted revenue, adjusted diluted EPS, and adjusted
EBITDA are Non-GAAP metrics. Please see our GAAP to Non-GAAP Reconciliation at the end of this document. Metric Guidance Comments Diluted EPS (GAAP) Mid-to-high single digit growth Includes 25 to 30 cents of divestiture related costs,
operational improvement plan costs, and the results of operations of the remaining business to be divestedAt current rates FX provides a 10 cent benefit Adjusted Diluted EPS in Local Currency* Mid-single digit growth Excludes divestiture and
other related costs and operational improvement plan costsExcludes results of operations of product lines divested or to be divested Adjusted Local Currency Revenue* Low-to-mid-single digit growth Excludes revenue of product lines divested
or to be divested Adjusted Local Currency EBITDA* Mid-single digit growth Excludes divestiture and other related costs and operational improvement plan costsExcludes results of operations of product lines divested or to be divested
18 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
19 ESG Information Click here to access our 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 employee education 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 backgroundsCommitted 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 since 2013. 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 businessExecutive
compensation strongly tied to performance
APPENDIX – NON-GAAP TABLES
21 Non-GAAP Financial Measures Note: EPS Calculations may not foot due to rounding
differences Three Months EndedDecember 31, 2020 Three Months EndedDecember 31, 2019 Twelve Months EndedDecember 31, 2020 Twelve Months EndedDecember 31, 2019 Revenue (GAAP) $ 334,668 $ 318,585 $ 1,332,001 $
1,322,934 Revenue of the product lines divested or to be divested (25,163) (33,683) (113,553) (143,172) Adjusted revenue $ 309,505 $ 284,902 $ 1,218,448 $ 1,179,762 Operating income (loss)
(GAAP) $ 34,815 $ (14,466) $ 152,656 $ 121,110 Divestiture & other related costs – Cost of products sold 4 10,567 1,795 10,567 Divestiture & other related costs – Selling and administrative
expenses 1,671 35,313 10,360 35,313 Operating income of the product lines divested or to be divested (3,415) (745) (7,580) (1,978) Operational improvement plan - Cost of products
sold - - 35 - Operational improvement plan - Selling and administrative expenses 698 - 3,304 - COVID-19 employee payment - Cost of products sold 1,036 - 1,036 - COVID-19 employee payment - Selling
and administrative expenses 1,986 - 1,986 - Adjusted operating income $ 36,795 $ 30,669 $ 163,592 $ 165,012 Net earnings (loss) (GAAP) $ 25,169 $ (16,962) $ 109,472 $ 82,047 Divestiture & other
related costs, before tax 1,675 45,880 12,155 45,880 Tax impact of divestiture & other related costs (1,393) (2,671) (2,605) (2,671) Net earnings of the product lines divested or to be divested, before
tax (3,415) (745) (7,580) (1,978) Tax impact of the product lines divested or to be divested 790 196 1,945 399 Operational improvement plan costs, before tax 698 - 3,339 - Tax impact of operational
improvement plan (170) - (826) - COVID-19 employee payment, before tax 3,022 - 3,022 - Tax impact of COVID-19 employee payment (675) - (675) - Adjusted net earnings $ 25,701 $ 25,698 $
118,247 $ 123,677 Diluted earnings (loss) per share (GAAP) $ 0.59 $ (0.40) $ 2.59 $ 1.94 Divestiture & other related costs, net of tax 0.01 1.02 0.23 1.02 Results of operations of the product lines divested
or to be divested, net of tax (0.06) (0.01) (0.13) (0.04) Operational improvement plan costs, net of tax 0.01 - 0.06 - COVID-19 employee payment, net of tax 0.06 - 0.06 - Adjusted diluted earnings
per share $ 0.61 $ 0.61 $ 2.79 $ 2.92
22 Non-GAAP Financial Measures (Cont’d) Revenue Total ForeignExchange
Rates Adjustments* AdjustedLocal Currency Total ForeignExchange Rates Adjustments* AdjustedLocal Currency Flavors &
Extracts 11.8% 1.1% (3.3%) 14.0% 6.0% (0.3%) (2.5%) 8.8% Color (4.4%) 0.9% (6.4%) 1.1% (6.4%) (1.8%) (3.9%) (0.7%) Asia
Pacific 5.1% 2.5% (0.2%) 2.8% 2.5% (0.3%) (0.2%) 3.0% Total Revenue 5.0% 1.1% (4.0%) 7.9% 0.7% (0.9%) (2.7%) 4.3% Operating Income Flavors &
Extracts 65.7% 0.0% 10.8% 54.9% 21.4% (0.7%) 9.0% 13.1% Color 4.4% 0.9% 3.0% 0.5% (5.1%) (1.6%) (1.1%) (2.4%) Asia
Pacific 8.8% 0.9% 0.1% 7.8% 13.9% (0.2%) (0.2%) 14.3% Corporate & Other (71.6%) 0.0% (95.0%) 23.4% (24.2%) 0.0% (57.0%) 32.8% Total Operating
Income (340.7%) (1.6%) (358.3%) 19.2% 26.0% (1.9%) 27.5% 0.4% Diluted Earnings Per Share (247.5%) 0.0% (247.5%) 0.0% 33.5% (2.1%) 39.0% (3.4%) Adjusted
EBITDA 17.6% 0.7% N/A 16.9% 2.1% (1.1%) N/A 3.2% The following table summarizes the percentage change in the 2020 results compared to the 2019 results for the corresponding periods:Three Months Ended December 31, 2020
Twelve Months Ended December 31, 2020 * For Revenue, adjustments consist of revenues of the product lines divested or to be divested. For Operating Income, Diluted Earnings per Share, and Adjusted EBITDA adjustments consist of the results of
the product lines divested or to be divested, divestitures & other related costs, operational improvement plan costs, and the one-time 2020 COVID-19 employee payment.
23 Non-GAAP Financial Measures (Cont’d) 2020 2019 % Change 2020 2019 % Change Operating
income (loss) (GAAP) $ 34,815 $ (14,466) (340.7%) $ 152,656 $ 121,110 26.0% Depreciation and amortization 12,810 13,309 49,641 55,015 Depreciation and amortization, product lines divested or to be
divested (48) (570) (193) (5,065) Share-based compensation expense (income) 1,591 77 5,608 (739) Divestiture & other related costs, before tax 1,675 45,880 12,155 45,880 Results of operations of the product
lines divested or to be divested, before tax (3,415) (745) (7,580) (1,978) Operational improvement plan costs, before tax 698 - 3,339 - COVID-19 employee payment 3,022 - 3,022 - Adjusted EBITDA $ 51,148 $
43,485 17.6% $ 218,648 $ 214,223 2.1% Twelve Months Ended December 31, Three Months Ended December 31,
24 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 12.3% 0.8% 11.5% 5.4% (0.7%) 6.1% Natural
Ingredients 17.9% 0.1% 17.8% 13.6% 0.0% 13.6% Fragrances 7.4% 5.2% 2.2% (1.2%) 0.2% (1.4%) Yogurt Fruit Prep* (52.0%) 0.0% (52.0%) (32.3%) 0.0% (32.3%) Flavors & Extracts
Group 11.8% 1.1% 10.7% 6.0% (0.3%) 6.3% Food and Pharmaceutical 5.1% 0.7% 4.4% 1.7% (1.9%) 3.6% Personal
Care (5.8%) 0.6% (6.4%) (11.4%) (1.6%) (9.8%) Inks* (93.1%) 3.5% (96.6%) (61.9%) (2.0%) (59.9%) Color Group (4.4%) 0.9% (5.3%) (6.4%) (1.8%) (4.6%) Asia PacificTotal revenue including product
lines divested or to be divested 5.1%5.0% 2.5%1.1% 2.6%3.9% 2.5%0.7% (0.3%)(0.9%) 2.8%1.6% Three Months Ended December 31, 2020 Twelve Months Ended December 31, 2020
* For Revenue, adjustments consist of revenues of the product lines divested or to be divested. For
Operating Income, adjustments consist of the results of the product lines divested or to be divested, divestitures & other related costs, operational improvement plan costs, and the one-time 2020 COVID-19 employee payment.25 Q4 Divested
Operations Results by Segment Three Months Ended December 31, Adjusted Adjusted Revenue 2020 Adjustments* 2020 2019 Adjustments* 2019 Flavors & Extracts $ 189,060 $ (24,378) $ 164,682 $
169,092 $ (25,308) $ 143,784 Color 119,813 (766) 119,047 125,363 (8,412) 116,951 Asia Pacific 32,165 (116) 32,049 30,602 (149) 30,453 Intersegment elimination (6,370) 97 (6,273)
(6,472) 186 (6,286) Consolidated $ 334,668 $ (25,163) $ 309,505 $ 318,585 $ (33,683) $ 284,902 Operating Income Flavors & Extracts $ 23,507 $ (3,214) $ 20,293 $
14,186 $ (1,039) $ 13,147 Color 20,548 (158) 20,390 19,678 332 20,010 Asia Pacific 6,044 (43) 6,001 5,557 (38) 5,519 Corporate & Other (15,284) 5,395 (9,889) (53,887) 45,880
(8,007) Consolidated $ 34,815 $ 1,980 $ 36,795 $ (14,466) $ 45,135 $ 30,669
* For Revenue, adjustments consist of revenues of the product lines divested or to be divested. For
Operating Income, adjustments consist of the results of the product lines divested or to be divested, divestitures & other related costs, operational improvement plan costs, and the one-time 2020 COVID-19 employee payment.26 YTD Divested
Operations Results by Segment Twelve Months Ended December 31, Adjusted Adjusted Revenue 2020 Adjustments* 2020 2019 Adjustments* 2019 Flavors & Extracts $ 742,035 $ (99,543) $ 642,492 $
700,356 $ (107,363) $ 592,993 Color 501,018 (14,008) 487,010 535,159 (36,002) 499,157 Asia Pacific 121,227 (518) 120,709 118,248 (712) 117,536 Intersegment elimination (32,279) 516
(31,763) (30,829) 905 (29,924) Consolidated $ 1,332,001 $ (113,553) $ 1,218,448 $ 1,322,934 $ (143,172) $ 1,179,762 Operating Income Flavors & Extracts $ 90,974 $
(8,292) $ 82,682 $ 74,961 $ (1,236) $ 73,725 Color 96,034 871 96,905 101,190 (562) 100,628 Asia Pacific 22,075 (159) 21,916 19,382 (180) 19,202 Corporate & Other (56,427) 18,516
(37,911) (74,423) 45,880 (28,543) Consolidated $ 152,656 $ 10,936 $ 163,592 $ 121,110 $ 43,902 $ 165,012
27