Lindt : 2023 Annual Report Focus Story

Since 1949

A N N UA L R E PORT 2 023

75 Y E A R S OF LI N DOR - 79

To create an unprecedented taste experience that enchants consumers. Once upon a time, the Lindt Master Chocolatiers set to work with this task. Back then, they were unaware that their recipe would pave the way for a unique success story. For the last three quarters of a century, Lindor chocolate has been providing sweet moments of happiness for connoisseurs all over the world and, thanks to its

irresistibly­ smooth filling, makes them literally melt away every time. The masterful recipe has remained nearly unchanged to this day and is a well- kept secret. It plays a key role in the legendary success of the premium brand, which equally represents the high-quality craftsmanship of the Lindt Master Chocolatiers and the uncompromising quality in the best Swiss tradition. Both have characterized Lindt & Sprüngli since the day it was founded.

These attributes have been and still remain what make Lindor chocolate the perfect door opener for entering markets around the globe. Today, the Lindor product range is a global bestseller in the Lindt & Sprüngli brand portfolio and

represents the international character of our traditional company. Lindor also demonstrates its universality in the variety of presentations and flavors, which are regionally and seasonally adapted to consumer preferences. Launched as a classic bar in 1949, the ball literally started rolling around two decades later. Today, around seven billion Lindor truffles a year are produced in over 30 flavors, with the iconic whole milk chocolate truffle in the red wrapper making up more than half of the total sales of the product range.

Alongside premium quality and incomparable product experience, the excellence of its marketing and the tireless development of brand value have contributed to building the iconic status that Lindor has enjoyed over genera- tions. This manifests itself in the distinctive look and feel of the product as well as the advertising, both of which have always kept pace with the times. Before we continue the success story with the same consistency, let's pause for a moment of pleasure and celebrate the global popularity of Lindor.

LINDT  &  SPRÜ NGLI

MAÎTRE CHOCOLATIER SUISSE DEPUIS 1845

A N N UA L R E PORT 2 023

75 Y E A R S OF LI N DOR - 8 0

Urs Liechti, what fascinates you about the Lindor truffle?

The packaging. Unwrapping the truffle creates excitement and anticipation of the sensational chocolate with its cool melt. And then there's the enormous variety of flavors. There's something for everyone.

What drives innovation more strongly? The consumers or the technology?

Technically, anything is possible. For us, as a company deeply rooted in tradition, however, it is crucial to inspire consumers with recipes that appeal to the majority. Every new product begins with surveys in the most successful markets. We develop the recipes based on the resulting preferences and test them in those same markets.

Hasn't everything already been invented when it comes to chocolate?

With almost 180 years of experience with chocolate, we are always trying to

improve and deliver the best for con- sumers. Quality is our top priority here.

Could artificial intelligence replace the Lindt Master Chocolat- iers in the future?

Passion, creativity and sensory qualities will probably always remain human qualities.

What has been your greatest moment of happiness as a Lindt Master Chocolatier?

Of the many moments of joy I could mention, it's the unique approach of the Lindt development team when we come up with new creations. This was the case again recently when we developed the

14 new Lindt Connaisseurs pralines with perfection down to the smallest detail. When you see the finished collection in the shops, you're filled with pride that you contributed to such a masterpiece.

LINDT  &  SPRÜ NGLI

MAÎTRE CHOCOLATIER SUISSE DEPUIS 1845

Over 20 years as Lindt Master Chocolatier until retirement at the end of 2023

Passion, creativity and

endless curiosity

Flavors from all over the world

and forms found both in architecture and nature

Three large praline recreations

Staying in touch with

Lindt & Sprüngli and going on

a non-ending journey

A N N UA L R E PORT 2 023

75 Y E A R S OF LI N DOR - 82

Lindor truffles melt the hearts of chocolate lovers all over the world. Its global success is mainly due to the wide range of variations, which are geared to the preferences in flavors of the different nations.

Lindt is known for its top-quality choco- late, which is produced to the highest Swiss quality standards. The same

is true for Lindor. With the hard shell, fine chocolate­ covering and irresistibly smooth, melting center, every bite into a Lindor creation reveals a magical moment.

The Lindor truffles are available in over 30 flavors. The variety of the product range reflects the chocolate preferences of the different cultures. Thus for the English, chocolate is inextricably linked with peppermint. The Swiss prefer classic milk chocolate. Americans are crazy about caramel. The Japanese like the taste of green tea. The French love a high cocoa content. Australians enjoy the summery, fruity flavor of mango. While for Italians, it's hazelnut.

Experience the Lindor truffle in 3D:

Using augmented reality, the Lindor brand proves that it is still open to new ideas 75 years after its launch and makes the Lindor truffles come alive in new dimensions.

Scan now and find out

A N N UA L R E PORT 2 023

75 Y E A R S OF LI N DOR - 8 4

By the time a new Lindor praline creation is ready to go into production, it has already covered a considerable distance on its way to market launch. At the very beginning, the Lindt Master Chocolatiers develop the recipe and determine the shape. The masters of their craft thoroughly refine and experiment until the praline prototype meets their high standards in every aspect. This stage of the product cycle takes up about a third of the development time, which can last between two and three years in to- tal. At this point, however, the work

of the Lindt Master Chocolatiers is far from complete. When it comes to transferring the new creation to the large production line, craftsmanship meets technology. The in-house process technologists work together closely with the product developers in this phase. What unites them are their high quality standards and their precision - the masterful craftsmanship is implemented

in the production process such that the handcrafted appearance of the end product is guaranteed right down to the smallest decorative element. The matching packaging design is created at the same time.

The high standards also apply to the partners in mold making and plant construction, which work closely with Lindt & Sprüngli in the development phase. Creating the wide range of customized molds for casting the new praline creations requires the utmost precision and reliability. Both properties are equally essential in order for the plant and system builders to optimize the complex manufacturing process. The contribution of both partners in the product cycle is indispensable and the valuable collaboration with Lindt & Sprüngli has been well established and proven for many years.

LINDT  &  SPRÜ NGLI

MAÎTRE CHOCOLATIER SUISSE DEPUIS 1845

Craftsmanship and technology complement each other in the production of Lindt & Sprüngli creations. The end product reflects the perfect interaction of a wide range of skills. The common denominator is the demand for premium quality at every stage of production.

A N N UA L R E PORT 2 023

75 Y E A R S OF LI N DOR - 8 6

Urs Liechti, Head of Product Development and Lindt Master Chocolatier

If you consider that more than seven billion Lindor truffles leave Lindt & Sprüngli's production facilities every year, you might be tempted to think that they go through a rapid manufacturing process. But the truth is far from this. Premium quality takes time. Once the chocolate mixture and the smoothly melting filling have been produced according to the secret recipe, each of the truffle undergoes a five- stage forming process until completion.

In production, these steps are carried out almost in a single pass. The effect thus achieved is revealed to anyone who unwraps a Lindor truffle. The smell of chocolate that fills your senses is

fresh and intense, as if you were standing in the middle of a chocolate factory.

Although many process steps have been automated since the day the first Lindor truffles rolled off the production line in 1967, people still play an important role - be it in the operation, monitoring and maintenance of the systems or in the visual inspection of particular quality features. The production employees thus also play an important role in the success of the product.

LINDT  &  SPRÜ NGLI

MAÎTRE CHOCOLATIER SUISSE DEPUIS 1845