Frutarom Industries : Notice of the intended delisting GDRs

Frutarom Industries Ltd.

('Company' or 'Frutarom')

Registration No.: 52-004280-5

The securities of the Company are listed for trading on the Tel-Aviv Stock Exchange

Name: Frutarom

2 Hamenofim St, Building A, Herzelia 4672553

Tel: +972-9-960 3800, Fax: +972-9-960 3826,www.frutarom.com

Email:esenay@frutarom.com

August 23, 2018

Dear Sir/Madam,

SUBJECT: NOTICE OF THE INTENDED DELISTING OF FRUTAROM GLOBAL DEPOSITARY RECEIPTS FROM THE OFFICIAL LIST OF THE FINANCIAL CONDUCT AUTHORITY AND CANCELLATION OF THEIR ADMISSION TO TRADING ON THE MAIN MARKET OF THE LONDON STOCK EXCHANGE AS A CONSEQUENCE OF THE CLOSING OF THE MERGER WITH INTERNATIONAL FLAVORS & FRAGARANCES INC.

London and Tel Aviv - Thursday 23 August 2018: Further to the 94.6% (approximate) approval by Frutarom shareholders of the proposed merger between Frutarom and Icon Newco Limited (the 'Merger'), a wholly owned subsidiary of International Flavors & Fragrances Inc. ('IFF'), as announced on 7 August 2018, Frutarom today provides notification, pursuant to Listing Rule 5.2.8 R that, as a consequence of and following the closing of the Merger, the listing of its Global Depositary Receipts ('GDRs') on the Official List of the Financial Conduct Authority ('FCA') and their admission to trading on the Main Market of the London Stock Exchange will be cancelled.

The closing of the Merger, which remains subject to clearance by the relevant regulatory authorities and other customary closing conditions, will result in all of the issued and outstanding ordinary shares of Frutarom, including those shares that the GDRs represent, being cancelled in exchange for the right to receive, for each Frutarom ordinary share, $71.19 in cash and 0.249 of a share of IFF common stock. Appropriate steps will be taken to determine the custody and depositary arrangements in respect of the GDRs as a consequence of, and in accordance with, the requirements of the Merger.

The cancellation of listing and trading shall, in accordance with Listing Rule 5.2.8 R, be effective no sooner than twenty business days from this announcement shall have elapsed. Twenty business days from the date of this announcement would be 8.00 am on Friday, 21 September 2018, however, the specific date of cancellation of listing and trading depends on the timing of satisfaction of the outstanding conditions of the Merger and, accordingly, the timing of its closing. A further announcement will made as to the actual date of the cancellation of listing and trading once it is available, which will be following the satisfaction of the outstanding conditions of the Merger.

The securities to which the cancellation of listing and trading will relate are the Rule 144A and Regulation S GDRs having ISINs US35950R1068 and US35950R2058 respectively.

Sincerely yours,

Eden Senay Tagania, Legal Counsel

Frutarom Industries Ltd.

Important Notices

This announcement contains inside information as defined in EU Regulation No. 596/2014.

This announcement and the information contained herein is restricted and is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into any jurisdiction into which such release, publication or distribution would be unlawful.

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