BICO GROUP INTERNAL

Code of Conduct

1Introduction

We at the BICO Group AB (publ), CRN 559050-5052, are committed to a cultureof openness, integrity, accountability and to conduct safe, fair, environmentallyresponsible and ethical operations. This Internal Code of Conduct applies to all
employees of all group of companies (the “BICO Group”). Together we, at theBICO Group, provide technology, products and services to create, understand andmaster biology which contribute to shaping the future of health. As such we arecommitted to the Ten Principles of the United Nations Global Compact, treatingall workers with respect and dignity, ensuring safe working conditions, andconducting environmentally responsible, ethical operations. All employees to any
company within the BICO Group, are an essential part of the BICO Groupstructure and therefore we expect all employees to commit to the following social,environmental, and ethical responsibilities.

2

Human rights andlabor conditions

We are committed to supporting the protection ofinternationally proclaimed human rights of workers
and treating all employees with respect and dignity. This applies to all workers, including, but notlimited to, temporary, student, migrant, contract,direct employee, and any other type of worker.
We conduct our business and operations in a waythat it is possible to identify, prevent, mitigate andaccount for negative human rights impacts.

2.1 Modern slavery and forced labor

We work in a manner to prevent any involvement
in any forms of modern slavery and forced laborthroughout our supply chain by having adequate
policies, risk assessment and due-diligence processes in place. All work should be voluntary on thepart of the employee, and we provide all employeeswith a written contract in a language they understand clearly, indicating all employment terms andconditions.

2.2 Child labor

We do not use child labor in any performance of
any work. “Child” means any person under the minimum legal age for employment where the work
is performed, and/or the minimum working age
defined by the International Labor Organization(ILO), whichever is greatest. All workers under theage of 18 are not exposed to work that is likely toharm their health, physical, mental, social, spiritual,or moral development.

2.3 Working hours and leave

We comply with applicable laws and ILO standards
regulating working hours and leave, maintaining
reasonable working hour schedules for our employees and providing a rest period of at least 24
consecutive hours in every week. All hours worked
beyond the default schedule shall be voluntary and
we respect collective bargaining agreements.

BICO Group Internal Code of Conduct5

2.4 Wages and benefits

All our employees receive at least the minimum
wage required by local laws and are provided withall legally requisitioned benefits. In addition, wealways comply with the collective bargaining agreements and provide our workers with information regarding their employment terms and conditions in alanguage spoken by them. We adopt a fair payment
structure that matches our employees’ skills.

sexual orientation, marital status, ethnicity, nationalorigin, caste, disability, genetic information, medicalcondition, pregnancy, religion, political affiliation,
union membership, covered veteran status, bodyart, among others. Workers’ religious practices arereasonably accommodated. We conduct our business in a way to prevent any involvement in any kindof harassment, abuse, corporal punishment orinhumane treatment.

2.5 Non-discrimination and fair treatment

2.6 Freedom of association and collective bargain

We treat all employees with dignity and respect,and discrimination in respect of employment andoccupation is not tolerated. We provide equal
employment conditions and opportunities based oneach worker’s skills and experiences, not discriminating any job applicants based on race, color, age,sex, gender, gender identity, gender expression,

6BICO Group Internal Code of Conduct

All employees have the right to associate freely,
seek representation and bargain collectively in accordance with local laws. We respect the rights ofworkers to communicate openly, making possible
for all employees to share grievances with management about labor conditions with no fear ofharassment.

BICO Group Internal Code of Conduct

7

3Information protection

3.1 Sensitive, confidential andproprietary information protection

Integral to the BICO Group’s business success is
our protection of confidential and proprietarycompany information, as well as non-public information entrusted to us by employees, customers
and other business partners. Confidential andproprietary information includes such things aspricing and financial data, customer names/addresses or non-public information about othercompanies, including current or potential supplierand vendors. We will not disclose confidential
and non-public information without a valid business purpose and proper authorization. The BICO
Group complies with all applicable data privacy
laws and regulations
We also protect the BICO Group’s and others
confidential information and intellectual prop-erty, including personal data/information, frommishandling, misuse, theft, counterfeit, fraud or
any improper disclosure, including diminishing risk
to digital systems and documents by executing
appropriate IT cyber security programs, usingencryption and strong passwords. We follow
information security management best practices
and industry standards such as ISO 27001.
In case of any data breach or suspicion of security incident, all employees are expected to communicate with the BICO Group or the appropriate BICO Group company in a rapidly attitude.

3.2 Intellectual property

All employees are required to comply with allapplicable laws regarding intellectual property
and protection against disclosure of confidentialinformation.

BICO Group Internal Code of Conduct

94Environment,
health and safety4.1 UN Sustainable Development Goals

The UN Sustainable Development Goals (SDGs)
aim to end poverty and inequality, protect theplanet and ensure that all people enjoy health,justice and prosperity. Since 2015, all countries in
the United Nations adopted the 2030 Agenda for
Sustainable Development. All BICO Group companies are working towards these goals and ourcollaborators are expected to act in a similar way,so that together we help in transforming our world
for the better.

4.2 Environmental, health andsafety management system

Considering the environmental risks normallypresent in a business operation, we conduct ouractivities aiming to minimize these risks. We havean adequate environment management system inplace, as well as policies and procedures to embrace environmental aspects into our operations,
supply chain and products.
Health and safety management systems arealready in place, as well as policies pursuing theprotection of health, safety and welfare of ouremployees, contractors, visitors among others that
may be affected by their occupation. We keep ourpremises under good sanitary conditions, securingthat the employee’s performance and safety is notcompromised by controlled substances, alcohol,legal and illegal drugs.

4.3 Substances and chemical management

Any potentially hazardous substances in chemical
products and articles used in our products areidentified as such by us. We also ensure that thesesubstances are handled, transported, stored, recycled and disposed of safely.

4.4 Sustainable product and process development

Sustainability is a key indicator in the BICO Groupand we make our best effort to develop, manufacture and deliver innovative products and processes
with the lowest possible environmental impact. The
aspiration is that we continue reducing our climatechange impact, using energy, water and natural
resources in an efficient manner, reducing waste
and use of hazardous materials, utilizing reusable
and/or recycled packaging material and managing
our emission in the air.

BICO Group Internal Code of Conduct

11

5

Governance andmanagement systemAs an employee or a third party, you
are free to seek advice or raise ethicalor legal concerns without fear of retaliation through adequate reporting
channels, such as our Whistleblower/
Speak up channel found at www.bico.
com. If a report is made, we always
address those cases in an ethic manner, avoiding retaliatory actions.

BICO Group Internal Code of Conduct

136Product safety

BICO Group companies are shaping thefuture of health and for that reason weensure that our products and services follow
maximum quality and safety standards.
Any accident/incident that may result in any
product safety issues must be reported by
the employees immediately in order to avoid
the sale or use of a faulty product by any
BICO Group company or its distributors.

BICO Group Internal Code of Conduct15

7Business ethics

7.1 Anti-corruption laws

7.3 Competition and antitrust

7.2 Illegal payments

7.4 Gifts and courtesies

The BICO Group is committed to comply with allanti-corruption laws and regulations applicable toour business activities. We do not get involved in,endorse nor tolerate any form of bribery or corruption, directly or indirectly and no improper benefit
shall be offered or accepted by any of our employees and representatives.
We do not accept or offer any illegal payments oranything of value from any customer, supplier, representatives, agents, government officials, politicalparties or others. “Illegal payments” includes payments aiming to expedite or secure performance ofa routine governmental such as customs clearances or visa expedition, with exception of formal legal
governmental fees for such services. Further, we
do not accept such actions or conduct from ourbusiness partners.

We respect and comply with all applicable anti-trust, competition and fair-trade laws andregulations and we do not enter into any anti-competitive arrangements like illegal price-fixing,
limiting supply or allocating/controlling markets
or any other illegal restrictive practices that wouldrestrain or impact competition.
We always intend to achieve our business goals
based on our products and services quality andperformance and the use of gifts and courtesies
aiming to reach competitive advantage will not
be tolerated by any of the companies in the BICO
Group. Whenever offering or receiving a gift or
business courtesy in any business relationship, weare responsible to make sure that such conduct
is consistent with reasonable marketplace customs, allowed by applicable laws and regulations

BICO Group Internal Code of Conduct

17

and that such acts do not infringe the rules andstandards of the recipient’s organization. Under nocircumstances the acceptance or offering of cash
gifts or cash equivalent should be authorized byany employee of any BICO Group company.
In respect of gifts, employees may only accept
unsolicited gifts, other than money, that conformto the reasonable ethical practices of the marketplace, including:•Flowers, fruit baskets and other modest presents that honor a special occasion.

•Gifts of nominal value, such as calendars, pens,mugs, caps and t-shirts (or other novelty, advertising or promotional items).

In respect of courtesies, employees may only accept courtesies if:

18•

They are not inappropriately lavish or excessive.

•

They are not frequent and do not reflect apattern of frequent acceptance of courtesies
from the same person or entity.

BICO Group Internal Code of Conduct•

They do not create the appearance of an
attempt to influence business decisions,such as accepting courtesies or entertainment
from a supplier whose contract is expiring in
the near future.

•The employee, accepting the courtesy, feels
comfortable discussing the courtesy with his/her manager or co-worker or having the courtesies known by the public.

7.5 Insider trading

Any material or non-public information disclosed toany employee of the BICO Group must not be used
for trading or empower third parties to trade in thestock or securities of any company.

7.6 Conflict of interest

We are and aim to be a reliable and honest partner.
For us it is crucial to do business in a transparent and open manner, avoiding situations whereprivate, financial or other external interests conflictwith our work responsibilities. If any BICO Groupemployee or anyone performing a work for theBICO Group may have a personal interest of any

kind in our business or any kind of financial link withus, this situation must be communicated to theBICO Group through one of the available reporting channels such as the Whistleblower/Speak up
channel found on the BICO Group webpage; www.
bico.com.
Conflicts of interest can occur, if you:
•As an employee or a close family member toyou are employed by, or acting as a consultant
to, a competitor or potential competitor, supplier or contractor, regardless of the nature of
the employment, while you are employed with
the BICO Group.

•Hire or supervise a family member or closely
related persons.

•Are serving as a board member for an outsidecommercial company or organization.

•Own or have a substantial interest in acompetitor, supplier or contractor.

•Have a personal interest, financial interest or
potential gain in any BICO Group transaction.

•Place company business with a firm owned orcontrolled by an employee of the BICO Groupor his or her family.

•Accepts gifts, discounts, favors or services
from a customer/potential customer, competitor or supplier, unless equally available to all
BICO Group employees.

7.7 Media inquiries

The BICO Group is a high-profile group of companies in our community, and from time to time, employees may be approached by reporters and othermembers of the media. In order to ensure that we
speak with one voice and provide accurate information about the BICO Group, we should direct all
media inquiries to the Head of Communications.
No one may issue a press release without first consulting with the Head of Communications.

BICO Group Internal Code of Conduct

19

Version: 1.0 | Policy Owner: Legal | Amendment: Inaugural | Effective: 29 September 2021
Approved by: Executive Management BICO Group AB (publ)