Barry Callebaut : Forever Chocolate Assurance Report 2021

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BARRY CALLEBAUT

Management Statement

Sustainability is at the heart of Barry Callebaut. The launch of Forever Chocolatein 2016, Barry Callebaut's plan to make sustainable chocolate the norm by 2025, was the next step in our journey to drive a sustainable cocoa and chocolate supply chain. Barry Callebaut's fourth audited report, covering fiscal year 2020/21, shows that, despite the persistence of COVID-19 which continued to disrupt the livelihoods of many people across the globe, including cocoa growing communities, the projects they put in place in the previous years continue to create scalable impact. In the past fiscal year Barry Callebaut continued to explore innovative ways of facilitating progress towards their Forever Chocolate goals and intensified their efforts to create an enabling policy environment by reaching out to public stakeholders for support.

Barry Callebaut is confidently progressing towards systemic change in the chocolate value chain. There remains a lot to be done, but through assessing, learning and investing, the Company is confidently increasing the adoption of innovative approaches to drive impact, and make sustainable chocolate the norm by 2025.

This report presents a summary of the Forever Chocolate and GRI relevant activities and key performance indicators (KPls) implemented during the year 2020/21 (based on Barry Callebaut's materiality assessment). It is based on the work performed by Barry Callebaut and its subsidiaries as well as partners Barry Callebaut collaborates with on implementing its activities. The reported KPls are independently assured by PricewaterhouseCoopers LLP (PwC) at Barry Callebaut's offices, cocoa communities in the countries where Forever Chocolate activities are implemented as well as in Barry Callebaut sites.

This report, covering the financial year ended 31 August 2021, presents the results of a limited assurance level verification following the ISAE 3000 (Revised) and ISAE 3410 assurance standards, providing Barry Callebaut's stakeholders with an enhanced level of confidence in relation to progress towards the Forever Chocolate targets. The exact scope, nature and conclusion of assurance are highlighted in the Independent Assurance Report of PricewaterhouseCoopers LLP on pages 3-4.

Barry Callebaut selected and applied appropriate policies and processes in preparing the data in this report. The Company believes that the KPls presented are complete and accurate. At the same time the Company believes that the assessment criteria are suitable for the purpose of measuring and evaluating the KPls presented in the report.

The Company of Barry Callebaut is confident and shall be responsible for the information presented in this document being complete and accurate, and prepared in accordance with the Reporting Criteria in Appendix A to this document.

1

15 November 2021

Independent Limited Assurance Report to the Directors of Barry Callebaut Sourcing AG

The Board of Directors of Barry Callebaut Sourcing AG engaged us to provide limited assurance on the information described below and set out in Barry Callebaut Sourcing AG's Forever Chocolate Progress Report for the year ended 31 August 2021.

Our conclusion

Based on the procedures we have performed and the evidence we have obtained, nothing has come to our attention that causes us to believe that the Selected Information for the year ended 31 August 2021 has not been prepared, in all material respects, in accordance with the Reporting Criteria.

This conclusion is to be read in the context of what we say in the remainder of our report.

Selected Information

The scope of our work was limited to assurance over the Key Performance Indicators (the "Selected Information") presented alongside the Reporting Criteria, against which it was assessed, are summarised below in Appendix Ai. Our assurance does not extend to information in respect of earlier periods or to any other information included in the Forever Chocolate Progress Report for the year ended 31 August 2021.

Professional standards applied and level of assurance

We performed a limited assurance engagement in accordance with International Standard on Assurance Engagements 3000 (Revised) 'Assurance Engagements other than Audits or Reviews of Historical Financial Information' and, in respect of the greenhouse gas emissions, in accordance with International Standard on Assurance Engagements 3410 'Assurance engagements on greenhouse gas statements', issued by the International Auditing and Assurance Standards Board.

Our Independence and Quality Control

We complied with the Institute of Chartered Accountants in England and Wales (ICAEW) Code of Ethics, which includes independence and other requirements founded on fundamental principles of integrity, objectivity, professional competence and due care, confidentiality and professional behaviour, that are at least as demanding as the applicable provisions of the IESBA Code of Ethics.

We apply International Standard on Quality Control (UK) 1 and accordingly maintain a comprehensive system of quality control including documented policies and procedures regarding compliance with ethical requirements, professional standards and applicable legal and regulatory requirements.

Our work was carried out by an independent team with experience in sustainability reporting and assurance.

Understanding reporting and measurement methodologies

The absence of a significant body of established practice on which to draw to evaluate and measure non-financial information allows for different, but acceptable, measurement techniques and can affect comparability between entities and over time.

Consequently, the Selected Information needs to be read and understood together with the Reporting Criteria, which Barry Callebaut Sourcing AG is solely responsible for selecting and applying. The Reporting Criteria used for the reporting of the Selected Information are as at 31 August 2021.

Inherent Limitations

Non-financial performance information is subject to more inherent limitations than financial information, given the characteristics of the subject matter and the methods used for determining such information. The precision of different measurement techniques may also vary.

Work done

The procedures performed in a limited assurance engagement vary in nature and timing from, and are less in extent than for, a reasonable assurance engagement. Consequently, the level of assurance obtained in a limited assurance engagement is substantially lower than the assurance that would have been obtained had a reasonable assurance engagement been performed.

We are required to plan and perform our work in order to consider the risk of material misstatement of the Selected Information. In doing so, we:

• made enquiries of Barry Callebaut Sourcing AG's management in Switzerland, Côte d'Ivoire, Ghana, Cameroon, Brazil, Indonesia and Ecuador;
• made enquiries of operational staff, Farmer Group management teams and cocoa farmers aligned with Barry Callebaut's sustainability program, including the Sustainability Reporting team and those with responsibility for Sustainability Reporting management and group sustainability reporting;
• obtained an understanding of the key structures, systems, processes and controls for managing, recording and reporting the Selected Information. This included visiting a number of Farmer Groups and Cocoa Farms in Côte d'Ivoire, Ghana, Cameroon and Brazil selected on the basis of their inherent risk and materiality to the group, to understand the key processes and controls for reporting site performance data to the local and group reporting teams;
• performed limited substantive testing on a selective basis of the Selected Information at the head offices and in relation to sites in Côte d'Ivoire, Ghana, Cameroon, Brazil, Indonesia and Ecuador to check that data had been appropriately measured, recorded, collated and reported; and
• considered the disclosure and presentation of the Selected Information.

Responsibilities of Barry Callebaut Sourcing AG's

Directors

As explained in the Management Statement, as found on pages 1 and 2 of the Forever Chocolate Progress Report, the Directors of Barry Callebaut Sourcing AG are responsible for:

• designing, implementing and maintaining internal controls over information relevant to the preparation of the Selected Information that is free from material misstatement, whether due to fraud or error;
• establishing objective Reporting Criteria for preparing the Selected Information;
• measuring and reporting the Selected Information based on the Reporting Criteria; and
• the content of the Forever Chocolate Progress Report.

Our responsibilities

We are responsible for:

• planning and performing the engagement to obtain limited assurance about whether the Selected Information is free from material misstatement, whether due to fraud or error;
• forming an independent conclusion, based on the procedures we have performed and the evidence we have obtained; and
• reporting our conclusion to the Directors of Barry Callebaut Sourcing AG.

This report, including our conclusions, has been prepared solely for the Board of Directors of Barry Callebaut Sourcing AG in accordance with the agreement between us dated 15 July 2021, amended by the agreement between us dated 28 October 2021, to assist the Directors in reporting Barry Callebaut Sourcing AG's Selected Information. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Board of Directors and Barry Callebaut Sourcing AG for our work or this report except where terms are expressly agreed between us in writing.

PricewaterhouseCoopers LLP

Chartered Accountants

London

15 November 2021

1. The maintenance and integrity of Barry Callebaut Sourcing AG's website is the responsibility of the Directors; the work carried out by us does not involve consideration of these matters and, accordingly, we accept no responsibility for any changes that may have occurred to the reported Selected Information or Reporting Criteria when presented on
   Barry Callebaut Sourcing AG's website