Sensient Technologies (SXT) 8-K Flavors & Extracts Group Reports Double Digit Revenue and Profit Growth

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  

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