Sustainability

As we continue to deliver life-changing vaccines, we are committed to reducing our environmental footprint by improving manufacturing efficiency, optimizing energy use, and minimizing emissions and waste.

Understanding the environmental impacts and associated risks of our operations is central to our approach. This enables us to adopt the most effective strategies to reduce our footprint while continuing to create positive social impact.

As part of our broader climate commitment, we have submitted our commitment to setting a near-term science-based target with the Science Based Targets initiative (SBTi), a globally recognized framework that guides companies in setting greenhouse gas reduction targets aligned with the latest climate science and the goals of the Paris Agreement. This includes efforts to reduce emissions across our own operations as well as throughout our value chain. These targets are currently under development and will undergo validation to ensure they are ambitious, credible, and aligned with limiting global warming to 1.5°C.

Furthermore, to support our decarbonization efforts, we entered into a Power Purchase Agreement (PPA) in 2024, securing renewable electricity for our production in Denmark through windmills and solar panels. This agreement is a key step in reducing our Scope 2 emissions and accelerating our transition to a more sustainable energy supply.

Attracting and engaging highly qualified employees is key to our success as an innovative and knowledge-based company with the ambition to grow in size and revenue. To do this we want

to offer a healthy and inspiring working environment that provides an opportunity to learn and develop for our employees.

As we continue to grow into a more global and diverse organization, our goal is to create an inclusive workplace where everyone has the opportunity contribute to our mission, regardless of gender, age, educational background, ethnicity, physical ability, religion, or sexual orientation. We have zero tolerance for discrimination of any form, whether verbal or physical, and we have established policies and processes to prevent and address such incidents.

We focus on health and wellbeing and want to offer a safe work environment for everyone employed in Bavarian Nordic. To oversee this, we have established a formal EHS (Environment, Health, and Safety) organization with oversight of all issues pertaining to health and safety, proactively working to ensure that we comply with relevant requirements as defined by the authorities.

We systematically assess both the physical and psychosocial work environments to identify and implement necessary preventive measures for the benefit of our employees and the company as a whole. This process involves continuous, open dialogue between management and staff through various channels, including day-to-day interactions and established committees. These committees, which include local works councils and a health and safety committee, receive regular training and education on relevant topics to ensure they are well-equipped to maintain a safe and healthy working environment.

We support and respect human rights. This area is widely covered by our health and safety policies, our Code of Conduct and our adherence to national labor and anti-discrimination laws in the countries in which we operate.

While our efforts are mainly aimed at our own employees, we seek to conduct business with third parties that are in compliance with the U.N. Global Compact principles as well. We have previously assessed the impact of our business on human rights, and it indicated no actual adverse impacts. We will continue to monitor potential adverse impacts, in order to determine if additional actions are required and to make sure we remain compliant with international standards.

As part of our procurement policies, we perform regular audits of our suppliers, whom we encourage to act responsibly in all matters, including observing international human rights. Also, we conduct our clinical trials in a manner that recognizes the importance of protecting the safety of and respecting the research participants. We do this by applying the highest

legal, ethical and scientific standards, in addition to complying with applicable laws and regulations.

Human Rights Policy | Bavarian Nordic

Product safety is crucial in our business, and quality and responsibility are important elements of our corporate culture. Vaccine development is a highly regulated area, in which a strong regulatory regime of inspections and approvals sets a high standard for all areas of our disciplines.

We work according to Good Manufacturing Practice (GMP), which are rules laid down by the European and U.S. health authorities. GMP includes strict requirements with respect to a product’s traceability, quality and purity, which means that quality management is built into each step of the manufacturing process.

We prioritize business ethics as a natural part of our underlying business concept. By providing health-care solutions and life-changing vaccines, we have an underscoring responsibility to act as a credible, reliable, and ethical entity. We are committed to continuously work against bribery and corruption in all its forms as well as to ensure a high level of IT-security.

Our Code of Conduct and Speak-Up policy describes the ethical requirements for all employees’ and the Board of Directors’ behavior in relation to customers, employees, shareholders, society, suppliers and partners. The Code of Conduct includes the rules and regulations in the Foreign Corrupt Practices Act (FCPA) and the Truth in Negotiations Act (TINA) that are relevant in connection with the Company's business transactions and negotiations in the United States, but equally relevant in other markets, where the Company operates.

Furthermore, our Ethics Hotline acts as a confidential reporting channel to report suspected breaches and unethical behavior.