TELEDYNETECHNOLOGIESEverywhereyoulookTM

2021 CORPORATESOCIAL RESPONSIBILIT YREPORT		
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2021 CORPOR ATE SOCIAL RESPONSIBILIT Y REPORT | TELEDYNE .COM

TABLE OF CONTENTSA MESSAGE FROM OUR CHAIRMAN, PRESIDENT
AND CHIEF EXECUTIVE OFFICER

4CORE VALUES

8

Oversight

10

ENVIRONMENT AND SUSTAINABILITYOUR PEOPLE

12

Environmental Policy Statement

13

Our Contributions to Carbon Monitoring andEnvironmental and Climate Science

13

Our Carbon Footprint

15

Our Sustainability Journey

17

Company-Wide Efforts to Reduce Energy Usageand Waste18

Our Assessment of Climate-Related Risks

20

HEALTH AND SAFETY

22

Health and Safety Policy Statement

23

Workplace Safety Goals

23

Injury and Illness Data

23

Disaster Recovery Risk Management

23

24

Diversity and Inclusion

25

Equal Opportunity Commitment

25

Employee Well-Being

26

Talent Acquisition

26

Talent Development

27

Board of Directors

27

Senior Management

27

Workplace Demographics

28

COMMUNITY AND HUMAN RIGHTS

30

Community Support/Volunteerism

31

Conflict Minerals

32Child Labor, Slavery & Human Trafficking

32

GOVERNANCE

34

Highlights

35

Anti-Corruption Program36

Code of Conduct for Service Providers

36

Ethics Hotline

37

ABOUT THIS REPORT

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A MESSAGE FROMOUR CHAIRMAN,PRESIDENT AND
CHIEF EXECUTIVEOFFICER

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2021 CORPOR ATE SOCIAL RESPONSIBILIT Y REPORT | TELEDYNE .COM

NASA satellites monitor atmospheric carbon dioxidewith Teledyne’s precision image sensors.

In 2021, we compiled the first global inventory of our
Scope 1 and Scope 2 Greenhouse Gas (GHG) emissions(starting with fiscal year 2020) and are developing a GHG
monitoring and management plan. We have set a goal
to reduce our Scope 1 and Scope 2 combined emissions
in company operations, normalized for revenue, by 40%
from 2020 levels by the end of fiscal year 2040.
I should emphasize that sustainability has been acore part of Teledyne’s corporate strategy and capital
allocation for over two decades. Today, Teledyne is a
global leader in space-based sensing for earth scienceand carbon monitoring, ambient air quality monitoring,
instrumentation for ocean science and climatology, andTeledyne offers a wide range of products that enablemeasurement of key environmental parameters in air,water, and soil.

Pictured above is Teledyne’s Slocum® Glider, whichmeasures oceanographic data that help scientists
study climate change.

world-class products for sustainability, energy efficiency
and human health.
Recently, the prominence and importance of sustainability and Environmental, Social and Governance (ESG)
initiatives have dramatically increased. In this inaugural
Corporate Social Responsibility (CSR) Report, we areproud to disclose and highlight some of Teledyne’s mostrecent efforts focused on ESG and sustainability.
When Teledyne became an independent company inlate 1999, we began our acquisition strategy with the belief
that demand for environmental monitoring instruments
would outgrow general industrial process instrumentation.
With our first three acquisitions in 2001 through 2003,

Teledyne entered the environmental instrumentation
business with targeted investments in ambient air quality
monitoring, emissions monitoring, and analysis of tracecontaminants in water. Following more than 60 otheracquisitions and two decades of focused research anddevelopment efforts, Teledyne’s global impact tosustainability is significant and consequential.
How do scientists and engineers study climate change
and predict weather? How can governments plan for
infrastructure, agriculture, and fisheries, or develop regulations and monitor compliance? On a weather application,from where does the air quality data come? Many times,
it is Teledyne’s products which collect critical climate		5

Teledyne’s First Acquisitions:
Environmental Instrumentation
2001: “Advanced Pollution Instrumentation’s established worldwide presence in air quality monitoring
will open new channels for environmental instruments
based on Teledyne’s existing technology.”
2002: “The acquisition of Monitor Labs, coupledwith our earlier acquisition of Advanced Pollution
Instrumentation, enhances Teledyne’s presence inthe air quality monitoring market.”
2003: “Tekmar’s products expand Teledyne’s existing
offerings in environmental monitoring and provide
entry into the laboratory water quality testing market.”data and make such sustainability research, government
policy and information services possible. Our imaging
sensors enable greenhouse gas and pollution monitoringfrom space. Our instruments provide data on the concentration of chemicals and particulates in the air webreathe. Our autonomous underwater floats and vehicles
enable the monitoring of the health of our oceans andimproved forecasting of hurricanes. We highlight a portionof these products in this CSR report.

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The overwhelming majority of our Government businesses produce products used for applications such as
observation, search and rescue, and electronic countermeasures — that is, for defensive applications. The primary
purpose of our avionics products is to increase the safety
and efficiency of commercial air transport aircraft. Our
marine instrumentation business once only served energy
customers, but today, sales related to ocean science,hydrography, marine mapping, and other applications
significantly exceed those related to offshore energy
exploration and production.
Going forward, we will continue to evaluate our emission
reduction goals, while at the same time providing thetools and technologies enabling environmental scienceand climatology across the globe.
		Kind regards,

		
		
		
		

Robert Mehrabian
Chairman, President andChief Executive Officer
February 25, 2022

GHG Emissions
40
MT CO2e per $M Revenue

FROM THE ARCHIVES

35
30
25
20
15
10
5
0

34.3
Scope 2
15.7

Target 40%
reduction by 2040
20.6

Scope 1
18.6

Total

2020

2040 Target(Right) Satellites in the European Space Agency’s
Copernicus Earth observation program use state-ofthe-art Teledyne sensors in instruments to gather
crucial data on a multitude of atmospheric gases suchas nitrogen dioxide, ozone, formaldehyde, sulphur
dioxide, methane, carbon monoxide and aerosols.

Credit: European Space Agency (ESA)		
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CORE VALUESC

orporate responsibility is part of ouroverall culture. Our four Core Values—
Integrity, Respect, Responsibility, andCitizenship—guide the decisions we make asan organization.

82021 CORPOR ATE SOCIAL RESPONSIBILIT Y REPORT | TELEDYNE .COM

INTEGRITY
We conduct our business in accordance with all applicable laws and regulations and with the highest standardsof ethics and honesty. We expect the same from ourbusiness partners and from those who represent theTeledyne brand.

RESPECTWe treat our colleagues with respect and dignity, and we
strive to maintain a safe, fair and inclusive work environment. Teledyne takes pride in its diverse workforce andrecognizes that its continuing success depends on thecontributions of all its employees. We expect ouremployees to treat each other with dignity, respect andfairness. Our goal is to maintain a safe, hospitable andaccommodating work environment in which every
employee is encouraged to contribute to the successof the Company.

RESPONSIBILITY

CITIZENSHIP

We strive to grow and to protect Teledyne’s value by
acting in the best interests of the Company and its stockholders, without compromising our core values. We arecommitted to two overarching objectives: growing thevalue of the Company and protecting that value. Those
goals should be pursued by always acting in the bestinterests of the Company and by following the principles
set forth in our Global Code of Ethical Conduct.

We conduct our business in a manner consistent with thewell-being of the communities in which we work and of
those who buy and use our products. We strive to makepositive contributions to those communities and to sellhigh-quality products to our customers. We recognize
the importance of the environment and natural resourcesand encourage our employees to embrace our responsibility to society when using and planning the use ofnatural resources.

		9Teledyne’s product portfolio includes sophisticatedmonitoring instruments that profile the word’s oceans
and the quality of air and water. We also provide powerand communication connectivity devices for distributed
instrumentation systems and sensor networks deployedin mission critical harsh environments.

Oversight
Pursuant to the mandate in their respective charters, theAudit Committee of our Board regularly reviews mattersrelated to compliance with environmental laws and thehealth and safety of employees, and the Nominating andGovernance Committee of our Board reviews and evalu-

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ates our policies and practices and monitors our efforts
in areas of legal and social responsibility, diversity andsustainability.
Teledyne has adopted an Environmental Management
System (EMS), which is modeled after the United States
Environmental Protection Agency’s Compliance Focused

Environmental Management System, and a Health and
Safety Management System (HSMS), which is modeled
after the United States Occupational Safety and HealthAdministration’s Health and Safety Management System
guidelines. Both the Teledyne EMS and HSMS are compatible with analogous management system standards
ISO 14001 and ISO 45001 and many of Teledyne’s businesses have EMS and HSMS programs certified to thesestandards. The objective of our EMS and HSMS is to provide
a safe and healthy working environment, help ensure
regulatory compliance and protect the environment.
Each of our facilities is required to adopt and implement
the EMS and HSMS.
Responsibility for environmental, health and safetycompliance starts with our Chairman, President andChief Executive Officer, and flows down to our segment
Presidents, business unit general managers, facility
managers, facility environmental, health and safety
officers and ultimately to each employee and service
provider. The corporate Environmental, Health and Safetyfunction, which is under the oversight of Teledyne’s
General Counsel office, reviews and audits our facilitiesfor compliance with our policies and applicable laws andregulations on a regular and consistent basis. As part ofTeledyne’s internal controls framework, each business
unit general manager or senior site manager is required
to provide annual written certifications with respect toenvironmental, health and safety compliance. Compliancewith environmental, health and safety laws is part of
employee annual performance and bonus evaluations.
Disciplinary action (including termination of employment)
for violation of environmental, health and safety laws,
regulations and procedures is part of our responsibility
and accountability framework.
Teledyne’s senior management reports on environmental, health and safety compliance and performanceto our Audit Committee on a quarterly basis.
Oversight of social responsibility, diversity and sustainability, including climate-related initiatives and risks, aremanaged internally at Teledyne by representatives fromour Legal, Environmental, Health and Safety, Human
Resources, Risk Management and Investor Relations
functions. Senior management reports at least annually
to our Nominating and Governance Committee on thesematters.

AIR QUALIT Y

Tracking the Air Quality
Onboard an Aircraft in
Real-Time

Teledyne and combines it with Teledyne Controls’
longstanding expertise in aircraft data acquisition,
wireless transfer, and flight data analysis.

While air quality monitoring systems have become
widely available for homes, offices, and industrial
areas, there is no automatic monitoring equipment
installed onboard most aircraft today. Yet, a wide
range of air quality events occur in an aircraft
cabin that can affect the comfort and health ofpassengers and crew and lead to cancelled flights
and unexpected maintenance costs.

Teledyne ACES includes IoT-connected sensor
modules installed in the cabin and flight deck that
continuously sense and monitor the air quality inthe aircraft. These modules employ high-accuracy
sensors that record key environmental parameterssuch as carbon dioxide, carbon monoxide, ozone,
volatile organic compounds, and airborne particulates. Each module automatically sends its air
quality data to the ACES Cloud Service where it
is consolidated for each aircraft and presented tothe user via a customized, web portal interface.

Teledyne ACES® environment monitoring systemis the first FAA-certified solution that addresses
this need for cabin air quality awareness. Specifically designed for airborne use, the ACES systemleverages extensive air quality expertise within

By providing systematic access to accurate air
quality data for every flight, Teledyne ACES
helps aircraft operators provide the healthy andcomfortable flying experience expected by theirpassengers and crew.

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ENVIRONMENT ANDSUSTAINABILITYW

e are proud of Teledyne’s broad
contribution to the environment andthe understanding of humankind’s
impact on the health and sustainability ofour planet.

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It is the policy of Teledyne to maintain andoperate our businesses in full compliance withapplicable environmental laws, regulations,permits and our Corporate Environmental
Management System. It is also our policy topromptly evaluate and resolve any suspected
instances of non-compliance. We recognize
the importance of our environment and natural
resources and encourage all our employees toembrace our responsibility to society when using
and planning the use of natural resources.
We take an active role in discovering andimplementing means to prevent harm to ourenvironment and to our natural resources bycontinuous improvement in our environmental
performance. Teledyne is committed to providing
adequate personnel and other resources tocomply with applicable environmental laws,
regulations and permits and to implement,
maintain and improve our Environmental
Management System.

Our Contributions to Carbon
Monitoring and Environmental
and Climate Science
While there is evidence that modern human society ischanging the Earth’s climate, Teledyne products provide
high-quality measurements and information that isrequired to take actions where they are needed most.
Global measurement from space is the most cost effective and comprehensive tool for studying climate change
and the effects of human activities. Space-based remotesensing depends on spectroscopic measurements that
can accurately measure the “spectral fingerprints” ofgreenhouse gases. Teledyne’s image sensors are the “eyes”
that enable remote monitoring of the Earth’s atmosphereand continental and ocean surfaces from space.
When most people think of climate change, they thinkof the effects of greenhouse gases that can hold in too
much heat and not let the Earth cool to a hospitabletemperature. Teledyne imaging sensors are in multiple
missions that monitor carbon dioxide and methane acrossthe globe, including: the Orbiting Carbon Observatories,
MethaneSat, Geostationary Carbon Observatory (GeoCarb),
and Carbon Plume Mapper.
Greenhouse gases are one aspect of atmosphericmeasurement. Also important is the radiation budget of
the Earth — that is, how much radiation is received fromthe Sun and how much is re-emitted to space. Imbalancein the radiation budget can cause global warming.

Credit: NASA/U. Oklahoma

Environmental Policy
Statement

Artist concept of the GeoCarb instrument on board an SES
communication satellite at geosynchronous orbit above theAmericas. It is fortuitous that South America is east of North
America, enabling GeoCarb to make a complete scan ofSouth America before the Sun illuminates North America.

Teledyne’s image sensors are supporting NASA’s CLARREO
mission and the European Space Agency’s (ESA) TRUTHS
mission that measure the Earth’s radiation budget.
The effect of changes in the Earth’s climate is reflected(literally) in the light from plants. NASA’s ECOSTRESS
instrument on the International Space Station and NASA’s
Surface Biology and Geology (SBG) mission depends on
Teledyne’s visible-infrared sensors. ESA’s Copernicus
Hyperspectral Imaging Mission for the Environment(CHIME), which is similar to NASA’s SBG mission, also will
use Teledyne’s advanced visible-infrared sensor. These		13

CLIMATE SCIENCE

Providing the Most Accurate Climate Data
Humans know the Earth is heating up. Extreme
weather events are increasing and flood and firecatastrophes are on the rise.
The TRUTHS (Traceable Radiometry Underpinning
Terrestrial- and Helio- Studies) Mission will, forthe first time, enable high-accuracy traceabilityof climate data and allow for the creation of arobust, space-based top-of-atmosphere climate
observation system. Its primary goals are to provide measurements for incoming and outgoing

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solar radiation between the earth and the sun,and to act as the primary calibration and benchmarking tool for orbital imaging and observation.
TRUTHS will use short-wave infrared sensors
from Teledyne e2v to drive its Hyperspectral
Imaging Spectrometer (HIS) to monitor the solar
radiance spectrum.
Teledyne is proud to be a part of the TRUTHS
Mission in its pursuit of more accurately
forecasting near- and long-term climate events.

space-based sensors are complimented by a variety ofairborne instruments that focus on high resolution measurement of targeted areas. These instruments (AVIRIS-ng,
NEON, CAO, PRISM, etc.) and measurement campaigns are
funded by NASA and the U.S. National Science Foundation.
Climate change is increasingly leading to weather
extremes. Teledyne’s image sensors are on several
weather monitoring missions, including NASA’s GOES
weather satellites, Japan’s Himawari satellites, and several
ESA weather missions.
While all these missions are filling gaps in our understanding of climate science, next generation instruments
are required. Teledyne is at the forefront in developmentof sensors for the next generation LandSat, next generation
GOES, and new constellations of weather satellites.
Our society’s understanding of the range of physicalphenomena that combine to form our climate is duein large part to the high-performance imaging sensors
being supplied by Teledyne.
Teledyne also produces a range of air and water
monitoring instruments and autonomous systems andinstruments that profile the world’s oceans. Teledyne’s
product portfolio includes sophisticated air and water
quality monitoring instruments to help keep the air webreathe and the water we drink clean. We design, produce and distribute sophisticated air quality instrumentsthat measure hazardous gases and particulate matter inreal-time. We also have products designed to improvethe efficiency of motors, motor drives and industrial
automation systems to reduce energy consumption.

Our Carbon Footprint
To identify our carbon footprint, we engaged a third party
ESG consultant to assist us in the process of collecting,validating and aggregating data from our global facilities,
and conducting calculations to create an enterprise-wide
greenhouse gas (“GHG”) inventory of our direct emissions(“Scope 1”) and indirect emissions from purchased
electricity (“Scope 2”) for fiscal year 2020. The inventory
conforms to the World Resources Institute/World BusinessCouncil for Sustainable Development’s GHG Protocol (the“GHG Protocol”), the most widely used voluntary carbon
accounting and reporting framework for corporations.
Generally, the manufacturing process for the types ofcomponents and systems we produce at our facilities
involves typical electro-mechanical assembly and lightmanufacturing; we engage in little heavy manufacturing.
Our Scope 1 emissions for most of our businesses areprimarily related to natural gas usage. Businesses in our
Digital Imaging segment that manufacture semiconductors, micro-electromechanical devices and digital
imaging sensors use various greenhouse gases in the
fabrication process; however, releases of these processgases to the environment are minimized through the useof capture and control devices. For example, Teledyne
DALSA’s semiconductor fabrication facility in Bromont,
Quebec has invested over $720,000 in scrubber
technologies that resulted in an estimated 43% reductionof greenhouse gas emissions in 2020 and the eliminationof 99% of other polluting industrial exhaust streams.

As part of our carbon footprint analysis, we are developing a GHG monitoring/management plan, which among
other things will address how we meet requirements
under our selected GHG Protocol and ESG Framework,
an inventory of equipment and processes, a descriptionof roles and responsibilities and procedures for reportingand calculating GHG emissions.
Teledyne is taking various actions to reduce GHG
emissions associated with employee commuting andbusiness travel. For example, certain Teledyne facilities
have implemented programs to reduce mobile source
emissions generated from employee commutes, including
ride share programs, public transportation subsidies,
electric vehicle charging stations and bicycle storage

Teledyne DALSA’s semiconductor fabrication facility in
Bromont, Quebec has invested over $720,000 in scrubber
technologies that resulted in an estimated 43% reductionof greenhouse gas emissions in 2020 and the eliminationof 99% of other polluting industrial exhaust streams.
and shower facilities. The use of video conferencing andother enterprise-wide communication tools reducesbusiness travel.
Total Scope 1 and Scope 2 GHG emissions for 2020are set forth in the tables below, as well as emissions per
million dollars of revenue.
We have also collected water usage across our operating units and aggregated this data for fiscal year 2020.

		
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GHG EMISSIONS

2020

SASB
STANDARD

Gross Global Scope 1 Total Emissions

Scope 1 MT CO2e57,257

TC-SC-110.a.1

Gross Global Scope 1 Total Emissions from
Perfluorinated Compounds

Scope 1 MT CO2efrom PFCs

42,891

TC-SC-110.a.1

Gross Global Scope 2 Total Emissions

Scope 2 MT CO2e

48,482

Scope 1 & 2 MT CO2e105,739

Gross Global Scope 1 and 2 Total Emissions

GRI
STANDARD

305-1, 305-2

Emissions were calculated according to the methodology contained in The Greenhouse Gas Protocol: A Corporate
Accounting and Reporting Standard (GHG Protocol), Revised Edition, March 2004, published by the World Resources
Institute and the World Business Council on Sustainable Development (WRI/WBCSD).

ENERGY

2020

SASB
STANDARD

Total Energy Consumed — Natural Gas

MMBTU

250,115

TC-SC-130.a.1

Total Energy Consumed — Diesel

Gallons

3,449

TC-SC-130.a.1

Total Energy Consumed — Gasoline(Motor + Aviation)

Gallons

16,373TC-SC-130.a.1

Total Energy Consumed — Propane

Gallons

3,117

TC-SC-130.a.1

Total Energy Consumed — Heat

MMBTU

791

TC-SC-130.a.1

kWh223,541,234

TC-SC-130.a.1

Total Energy Consumed

GigaJoules

1,072,428

TC-SC-130.a.1

Percent Grid Electricity%

100

TC-SC-130.a.1

Percent Renewable Energy from Grid*

%

30-40

TC-SC-130.a.1

Total Energy Consumed — Electricity

Water usage for 2020 (thousands of gallons): 208,380*Estimated based on Electricity Supplier’s estimates of renewable energy delivered. Teledyne does not havePower Purchase Agreements (PPAs) or Renewable Energy Certificates (RECs).

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2021 CORPOR ATE SOCIAL RESPONSIBILIT Y REPORT | TELEDYNE .COM

GRI
STANDARD

302-1

Our Sustainability Journey

MT CO2e per $M Revenue

As a global company, we strive to improve the sustainability of our operations and reduce our carbon footprint.
We acknowledge that we are in the early stages of oursustainability journey.
We support the carbon dioxide and greenhouse gas
mitigation goals recognized by the 26th United Nations
Climate Change Conference of the Parties (COP26)
Glasgow Climate Pact.
As noted above, beginning in 2021 we conducted aninventory of our Scope 1 and Scope 2 emissions (startingwith fiscal year 2020) and are developing a GHG monitoring and management plan.
We have set a goal to reduce our Scope 1 and Scope 2
emissions in company operations, normalized for revenue, by
40% from 2020 levels by the end of fiscal year 2040. Where
practical, we intend to purchase electricity produced fromrenewable energy sources to reduce Scope 2 emissions.

GHG Emissions
40
30
20
10
0

34.3
Scope 2
15.7

Target 40%
Reduction by 2040
20.6

Scope 1
18.6

Total

2020

2040 Target		17Company-Wide Efforts to Reduce
Energy Usage and Waste
Since 2016, Teledyne has implemented a company-wide“Go Green” initiative focused on environmental improvement. Projects include pollution prevention, waste
minimization, source reduction, energy use conservation,and material recycling. Some examples are described in
more detail below:
Teledyne has widely adopted fluorescent to LED lighting
system conversions and realized significant energy
savings. Many Teledyne businesses have installed electricvehicle charging stations and provide electricity free ofcharge to promote electric vehicle use. As a standardpractice, at end-of-life, older high energy consumption
equipment is replaced with energy conserving and low
environmental impact equipment. Certain businesses
that utilize equipment with high power demand electricmotors have conducted energy studies and installed
power factor correction equipment and variable speed
drives to reduce electricity usage. Certain businesses
have installed waste heat recovery systems, solar panels,
wastewater treatment and recycling systems and packaging waste management programs. Go Green projects
also include local recycling programs to reduce landfill
burden and employee tree and garden planting.
Teledyne has been managing energy usage throughvarious energy savings initiatives. To further enhancesavings, in 2019 we decided to engage an outside energy
auditor to review our worldwide operations. The goal is

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to develop a plan to create further efficiencies to help
reduce our global energy footprint. As of now, the energy
auditor has performed assessments of nine Teledyne
facilities that are among the most significant sources ofenergy usage.
Teledyne strives to follow international guidelines forthe disposal of all waste. This includes looking for ways
to reduce scrap, emphasize recycling, and maintainproper disposal of chemical and electronic waste. Localsites manage their own waste programs, which are periodically subject to audit by corporate personnel.

(Above) Teledyne’s Grenoble, France, semiconductor
facility has taken innovative steps in energy efficiency
by installing heat pumps to recover waste heat andreduce emissions from burning fossil fuels. Grenoble
also includes electric vehicle charging stations for
employee use and biodiversity initiatives such as
beekeeping.
(Left) Three beehives are installed in front of the mainbuilding in Grenoble, France. A dozen employees
harvested 60 kg of honey during the summer of 2021
despite a low harvest in the region among professionalbeekeepers.

INDUSTRIAL POWER

Motor Drive Analyzers
Increase Energy Efficiency
Approximately 22% of the energy consumed in
the world is used to generate electricity. It has
been estimated that nearly 50% of that electricity
is used to drive motors, with uses including consumer appliances, industrial automation, electricvehicles, HVAC systems and massive pumps thatmove water for utilities and irrigation.

In 2021, Teledyne DALSA’s semiconductor fabrication
facility in Bromont, Quebec implemented a water
recycling system in wet processors that is expected
to reduce water consumption by 9 million gallons per
year, representing approximately 11% of the facility’s
total water consumption.
(Right) Improving overall energy efficiency of electricmotors could result in reduction in consumption offossil fuels and greenhouse gas emissions. Teledyne’sline of Motor Drive Analyzers allows designers andmanufacturers of industrial motor systems to measureperformance dynamically to optimize performanceand efficiency.

Most motors operate dynamically, constantly
changing speed or torque delivery to optimize forvarious load conditions. Engineers use complex
control algorithms to optimize their control
systems for these dynamic motor operations.
Teledyne LeCroy’s Motor Drive Analyzers provide
engineers with important information to enabletuning of control systems for optimal performanceand efficiency during the dynamic operating
conditions that most motors operate under—
something that cannot be done with any other
instrument. Additionally, Teledyne LeCroy’s Motor
Drive Analyzers have very high bandwidth andcan measure very high-speed signals, enabling
control engineers to design motor drives that
adapt to speed or torque change requirements
within very short time periods—as fast as theswitching period of the Silicon-carbide (SiC) or
Gallium-nitride (GaN) power semiconductors thatare being adopted in the most efficient and highest
performance motor drive designs.

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Our Assessment of
Climate-Related Risks

WATER SAFET Y

Improving Water Safety
and Early Virus Detection
Teledyne’s automatic samplers are actively
engaged in the global battle against COVID-19.
COVID-19 and other pathogens are detectable inwastewater via wastewater based epidemiology(WBE) providing early detection of the disease
in communities, both large and small. Unlike
the deadly 1918 flu pandemic where symptoms
appeared within hours and fatalities occurred
within days, COVID-19 may spread undetected
for weeks before symptoms appear.

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2021 CORPOR ATE SOCIAL RESPONSIBILIT Y REPORT | TELEDYNE .COM

Teledyne’s automatic samplers are key components for the collection of wastewater samples
at appropriate monitoring points. The samples
are then analyzed in laboratories in order toaccurately detect and quantify COVID-19 genetic
material.
WBE is a valuable weapon in the hands of thoseworking to defeat the virus, giving public institutions and health officials the chance to detect
an impending outbreak, weeks earlier than
traditional testing. These testing efforts enablecommunities to mitigate economic damages andbetter protect the public.

We continue to evaluate short-, medium- and long-termrisks related to climate change. However, it is not clear
how the climate will change in the future or what will be
the response from regulatory agencies or customers.
Some of our manufacturing facilities are located inregions that may be impacted by severe weather events,
like hurricanes or ice storms, or in areas prone to wildfires,the frequency and severity of which may increase as aresult of climate change. While our manufacturing
facilities are required to maintain disaster recovery andbusiness continuity plans, these events could result in
potential damage to our physical assets as well as
disruptions in manufacturing activities. Some of ourmanufacturing facilities are in areas that may be at risk
due to rising sea levels. Moreover, some of our manufacturing facilities are in areas that could experience decreased
access to water and reliable energy due to climate issues.
Severe weather and wildfire events may impair the abilityof our employees to work effectively. Climate change,
including the increasing frequency and intensity of
extreme weather events, its impact on our supply chain
and critical infrastructure worldwide and its potential
to increase political instability in regions where we, ourcustomers, partners and our suppliers do business, may
disrupt our business and may cause us to experiencehigher employee attrition and higher costs to maintainor resume operations. The effects of climate change also

A Teledyne ISCO sampler is used in a neighborhood tocollect wastewater samples for the detection of COVID-19.

may impact our decisions to construct new facilities ormaintain existing facilities in the areas most prone tophysical risks, which could similarly increase our operating
and material costs. We could also face indirect financial
risks passed through the supply chain that could result inhigher prices for our products and the resources needed
to produce them.
We sell products to customers directly engaged in oil andgas exploration and production. In 2021, sales to suchcustomers accounted for less than 5% of total sales. Changes
to regulations, social practices and preferences, energy
generation and transportation technologies that may occur
or be implemented to mitigate climate change could result
in reduced demand for hydrocarbon products, which
could result in a reduction in sales to these customers.
Legislative and regulatory measures currently underconsideration or being implemented by government
authorities to address climate change could require
reductions in our greenhouse gas or other emissions,establish a carbon tax or increase fuel or energy taxes.
As described in this report, we have also voluntarily
announced goals to reduce our greenhouse gas emissions
by a target date. These legal requirements, in addition toemission reduction efforts that we voluntarily undertake,are expected to result in increased capital expendituresand compliance costs, and could result in higher costs
required to operate and maintain our facilities, procure
raw materials and energy, and may require us to acquireemission credits or carbon offsets. These costs andrestrictions could harm our business and results ofoperations by increasing our expenses or requiring us
to alter our operations and product design activities.
The inconsistent international, regional and/or national
requirements associated with climate change regulations
also create economic and regulatory uncertainty.
Credit: Carolina Nobre, Woods Hole Oceanographic Institution

Deployment of Teledyne RDI ADCP with CTD package
in station near the coast of Greenland on an OSNAP
cruise in the North Atlantic. Teledyne floats and gliders
contribute directly to understanding of climate change
and impacts on the ocean.

		
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HEALTH AND
SAFETY

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Disaster Recovery Risk Management

Ensuring the safety and health of our employees is an
integral part of Teledyne’s corporate culture. Since 2019,
Teledyne’s Annual Incentive Award Plan has incorporated
work-related injury and illness rate reduction targets as apersonal goal for select senior management.

Teledyne requires all operations and corporate functions
to develop, implement, maintain, and test a Disaster
Recovery / Business Continuity Plan (DRBCP). The purpose of the DRBCP is to define the process a business or
corporate function will follow in the event of a natural or
man-made disaster to ensure the safe and timely return
to normal operation. Testing of the DRBCP is required
annually to allow Teledyne operations and corporate
functions to identify gaps in their DRBCP and if needed,
update and improve the overall recovery capabilities.

Injury and Illness Data
The charts below show Teledyne’s incidence rates (rates
per 100 full-time employees) of all work-related injury
and illness cases and work-related injury or illness casesthat result in days away from work for fiscal years 20182021 (excluding COVID-19 related cases and cases frombusinesses acquired in 2021).

Work-Related Injuries & Illnesses
Total Case Incidence Rate
1.5
1.0

1.30

1.38
1.12

0.98

0.5
0.0

2018

2019

2020

Total Case Incidence Rate

2021

Cases per 100 Employees
Full-time Employees

It is the policy of Teledyne to provide a safe andhealthy work environment for all employees
and to continue to maintain and operate ourbusinesses in full compliance with applicable
Health and Safety laws, regulations, permits and
our Corporate Health and Safety Management
System. It is also our policy to promptly evaluate
and resolve any suspected instances of unsafe
or unhealthy working conditions or non-compliance with applicable requirements.
Each employee has responsibility for maintaining a safe and healthy workplace. The
performance of all work assignments without
safety-related incident is of utmost importance.
Employees must immediately report any suspectunsafe or unhealthy condition, accident or near
miss situation to their immediate supervisor or
the site Health and Safety Manager.
We take an active role in discovering andimplementing new means to prevent harm to
our employees by continuous improvement inour health and safety performance. Teledyne iscommitted to providing adequate personnel andother resources to maintain a safe and healthy
workplace; comply with applicable healthand safety laws, regulations and permits; andimplement, maintain and improve our Healthand Safety Management System.

Workplace Safety Goals

Cases per 100 Full-time
Employees
Employees

Health and Safety Policy
Statement

Work-Related Injuries & Illnesses
Days Away from Work Case Incidence Rate
0.5
0.4

0.46

0.3
0.2

0.29

0.31

0.30

2019

2020

2021

0.1
0.0

2018

Total Case Incidence Rate		
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OUR PEOPLE

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Diversity and InclusionWe are committed to being transparent as we build
a more diverse and inclusive workplace, and we
actively monitor diversity metrics on a global
basis. This data is an important step in our diversity journey.
In 2020, Teledyne formed a committee to oversee its
equality, diversity and inclusion efforts. Among otherthings, we are piloting an anonymized review/resume
redaction process and we expanded our recruitment
sources to attract more diverse candidates. Our Teledyne
companies work with many outreach programs, including
the National Society of Black Engineers and the Societyof Women Engineers. We also began working withINROADS, a non-profit organization that creates pathways
to careers for ethnically diverse high school and college
students across the country, to improve our access todiverse candidates.

Equal Opportunity Commitment
We regularly review our policies, processes and practices
to ensure that they promote inclusivity for all applicantsand employees. We continue to focus on several activities
and initiatives to actively increase diverse representationand progression within our company. We actively advertise
all vacancies and strive to recruit the best possible
candidate for the role.
We celebrate our employees’ diverse backgrounds andin 2021 increased opportunities for positive employee
interactions through various company-wide communication campaigns, a few of which are highlighted on
the right:

CULTURAL HOLIDAYS AND HERITAGE CELEBRATIONSBLACK HISTORY MONTH
To celebrate Black History Month, Teledyne highlighted Dr. Mae Carol Jemison, an American
engineer, physician, and former NASA astronaut. She became the first black woman totravel into space aboard the Space Shuttle Endeavour. Teledyne proudly supports NASA’svarious space programs, and electronic bulletins were sent to employees across thecompany and posters hung in lobby areas to celebrate Dr. Jemison’s great achievements.
WOMEN’S HISTORY MONTH
Teledyne celebrated women’s contributions to history, culture and society by highlighting
women employees who have made significant contributions to the company. Our Teledyne
public website celebrated these women and included a biography on each of them.
EARTH DAY
Teledyne companies chose their own activities in celebrating Earth Day and focused onclean-up, planting trees, and green energy.
PRIDE MONTHFor Pride Month, Teledyne focused on promoting respect, inclusion, and diversity
for everyone. Employees shared personal stories with their Teledyne family aroundthe globe.
NATIONAL HISPANIC HERITAGE MONTH
Teledyne recognized and paid tribute to the generations of Hispanic Americans who havepositively influenced and enriched our nation and society. During this period, Teledyne
recognized many of our talented Hispanic colleagues across the globe.

		
25

Employee Well-Being
The health and wellness of our employees is a criticalcomponent to the success of our business. Many of ourlarger facilities have on-site fitness centers and encourage
healthy choices with various wellness challenge programs.
These programs often include guest speakers on various
topics, including mental health, heart disease, diabetes,and personal financial awareness.
We also have robust vacation and sick leave policies
that provide employees with flexibility to take time awayfrom work for relaxation or to recover from illness. USbased employees have access to third-party counselingand mental health services at no cost to the employee
when life events impact an employee.

Talent Acquisition
Teledyne appreciates the benefits of diversity and supports
programs increasing the inclusion of underrepresented
and minority groups, including the enablement of persons
with disabilities, and the advancement of women in
professional fields, particularly in science, technology,
engineering and math (STEM). We work with variousorganizations to increase diversity in our pool of available
candidates to fill our STEM-based and other hard-to-fillpositions.
One of our companies, Teledyne e2v, has been runningan apprenticeship program for over 60 years. It is a wellestablished, structured program that attracts schoolleavers aged between 16 and 18 to join our technician orengineering programs.

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As part of the program, apprentices rotate throughout
the organization learning key technical skills in mechanicaland electrical engineering as well as developing soft skills,
such as self-confidence and teamwork. The apprentices
play a key role in attracting future talent by participatingin career fairs, school challenges and open days. They
earn professional qualifications.
As part of our outreach and development efforts for
women in the science, technology, and engineering
fields, we have participated in the Women in Science andEngineering Conference for Girls (WSE) in various locations in the US. We have also been a consistent sponsorof the Young Woman Engineer of the Year Awards in the
UK. This event helps young students, school leavers anddegree students understand more about engineering bylearning about day-to-day jobs and personal experiences.
It is also designed to encourage young talent to pursue a
career in STEM.
Through our annual sponsorship of this event, we
promote our organization and participate in industry
roundtables/webinars and an annual awards ceremony.
By promoting the company via this network, we hope toencourage more young females to join our organization.
Teledyne Brown Engineering, Inc. has worked with
Women Who Weld, a non-profit organization that teaches
women how to weld and find employment in using theirwelding skills.
Teledyne FLIR based in Goleta, California has had along and proud partnership with UC Santa Barbara andout their career and that may allow them to progress tomore responsible positions at Teledyne.
In 2020, the company launched Teledyne University, alearning platform for employees. The database of courses,
webinars, and certification programs has hundreds oftargeted training programs on management, technicalcompetencies, soft skills development, and compliance.
In 2021, Teledyne employees took more than 55,000 hoursof training through the Teledyne University platform.

Board of Directors
UC Santa Barbara Undergraduate Winners—
Mechanical Design Expo.
enthusiastically supports Capstone Courses that haveallowed Teledyne FLIR to innovate with the ideas andenergy of students.

Talent Development

Our board consists of 11 directors. Of these, three arefemale and two identify as having diverse characteristics
in terms of race, ethnicity, sexual orientation or cultural
background.

Senior Management
Of the 16 executives whose profiles are listed on
Teledyne’s web page, five (or 31%) are female. Two of
the five (or 40%) named executive officers in our mostrecent SEC filing are female.

We also provide additional opportunities for our existing
employees to enhance their careers:
Teledyne invests in employee skills development invarious ways, including through educational expense
reimbursement. These reimbursements help employees
advance their education. Specialized training in a jobrelated field gives employees new skills and a strong
foundation of knowledge that can serve them through-		
27

Workplace Demographics
METRIC

2019

2020

2021

Global Employees

11,794

10,67014,520% Employees in U.S.

61.2%

59.5%

56.4%

% Employees Outside U.S.

38.8%

40.5%

43.6%

% Americas

73.9%

72.0%

68.9%

% EMEA

24.8%

25.6%

28.2%

% ASIA-PAC

1.3%

2.4%

2.9%

% Female Employees

28.1%

28.0%

29.7%

% Female Senior Management

27.8%

29.4%

31.3%

White

60.1%

60.2%

60.9%

Asian

17.9%

18.0%

18.1%

Hispanic or Latino

14.7%

14.5%

13.9%

Black or African American

4.8%

4.7%

4.4%

Two or more races

1.6%

1.9%

1.9%

American Indian or Alaska Native

0.4%

0.4%

0.4%

Native Hawaiian/Other Pacific Islander

0.5%

0.3%

0.4%

EMPLOYEES*GENDER DIVERSITY*ETHNICITY (U.S. ONLY)*** Global employee and gender diversity data for 2019 is as of December 26, 2019, 2020 as of January 1, 2021, and 2021 as ofDecember 31, 2021. 2021 data includes employee information for FLIR, acquired in May 2021.
** US-only employee data was gathered from Equal Employment Opportunity reporting, with 2019 reporting based on
December 2018 data, 2020 reporting based on October 2019 data, and 2021 reporting based on October 2020 data.

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Credit: Clayton Jones

Teledyne Slocum gliders are used forstorm track prediction and have significantly
improved storm intensity forecasting.

PUBLIC SAFET Y

Measuring Ocean Conditions In Storms
Predicting a storm’s landfall and strength saves lives and improves recovery
planning. Slocum® gliders from Teledyne Marine have helped monitor theseas for approximately two decades.
Global concern about Earth’s changing climate has thrust severe storms into
the spotlight, especially hurricanes and typhoons. Accurately predicting astorm’s landfall and strength saves lives and reduces unnecessary defensive
expenses.
Significantly improved forecasting of a tropical storm’s intensity—the indicatorof its devastating impact, comes from accurately knowing about subsurface
water temperatures along the storm’s path. For the last decade, Slocum gliders
from Teledyne have monitored the challenging waters associated with severe
storms, sending reports even while encountering waves exceeding 10 metersin height. The U.S. Navy and the National Oceanic and Atmospheric Administration (NOAA) often have 50 Teledyne gliders deployed worldwide thattransmit data for ocean weather forecasting.

		
29

Teledyne is proud to support The Nature Conservancy’s Volgenau Virginia
Coast Reserve (VVCR) with a gift of land in Northampton County, Virginia in
December 2021.
VVCR’s 14 undeveloped barrier and marsh islands help to protect Eastern
Shore communities from storm surges and sea level rise, as well as providing
critical wildlife habitat. Teledyne’s land donation proved to be timely, asJanuary’s Nor’easter snowstorm flooded the property and the road in front,
making the donation a strategic coastal resilience property for
The Nature Conservancy.
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2021 CORPOR ATE SOCIAL RESPONSIBILIT Y REPORT | TELEDYNE .COM

Credit: Daniel White / The Nature Conservancy

COMMUNITY AND
HUMAN RIGHTSCommunity Support/VolunteerismOur employees are passionate about getting
involved in local fundraisers and events which
support programs such as mental health, disabled rights, Veterans, local Universities, Parkinson’s andCancer research, and efforts to help communities heal
from local tragedies. Teledyne’s support includes monetary donations, charity event sponsorship, employee
participation, guest speaking and mentoring programs,
and leading event committees. Giving back to the communities in which we work has been, and continues tobe, a shared vision across the company.

THE KIFARU RISING PROJECT

Anti-Poaching andCommunity Support

In 2020, there were no rhinos poached in Kenya
for the first time in 20 years, thanks in part to thework of the WWF and Teledyne FLIR partnership.
Teledyne FLIR technology has helped apprehendmore than 300 poachers and helped rangers do theirjobs safely and effectively, even during the added
stress from COVID-19. This project has attracted
contributions from other corporate partners,
including complementary technology and outdoor
gear for wildlife rangers who patrol millions of acresof wilderness. Additionally, we have expanded ourcollaboration to include a new perimeter security
system at Ol Pejeta Conservancy, Kenya in thepast year.

The Kifaru Rising Project is amulti-year effort in collaboration
with World Wildlife Fund (WWF)to deploy Teledyne FLIR thermal
imaging technology to help
improve wildlife ranger safety
and contribute to their mission
to stop illegal wildlife poaching of rhinos across
10 parks and game reserves in Kenya.
Teledyne employees in Huntsville, Alabama, help pack
donations to support their local community food bank.

To date, Teledyne’s involvement includes the
donation by Teledyne FLIR of more than $2 million
in thermal imaging technology, engineering
assistance, and training.

Masaai Mara, Kenya, a Kifaru Rising site.

		31Conflict Minerals

Around the world, Teledyne’s employees lend their
passion to help their communities by supporting local
events. Above: a toy drive and a fundraiser for
Alzheimer’s programs.

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Teledyne is committed to responsible sourcing from its
suppliers and expects its suppliers to have policies andprocedures in place to determine whether parts andproducts supplied to Teledyne are conflict-free (i.e., do
not contain metals derived from “conflict minerals”).
Conflict minerals are columbite-tantalite (tantalum),cassiterite (tin), gold, wolframite (tungsten), or theirderivatives that directly or indirectly finance or benefit
armed groups through mining or mineral trading in the
Democratic Republic of the Congo or an adjoining country.
Teledyne expects its suppliers to establish policies, due
diligence frameworks and management systems
consistent with the OECD Due Diligence Guidance for
Responsible Supply Chains of Minerals from ConflictAffected and High-Risk Areas that are designed toaccomplish this goal. Teledyne’s Conflict Minerals team,composed of individuals from our strategic sourcing andcorporate departments, governs our compliance with
the SEC’s Conflict Minerals reporting requirements. For
more information on our conflict minerals due diligenceprocess, see our Conflict Minerals Report located on
our website. In 2020, as part of our conflict minerals due
diligence, we surveyed a total of 2,179 suppliers. As partof our program, we participate in outreach initiatives toencourage nonconformant smelters to be independently
audited by the Responsible Minerals Assurance Process.

Child Labor, Slavery & Human Trafficking
Teledyne supports efforts to eliminate human trafficking
and slavery and requires the same commitment of its
suppliers. Teledyne is committed to obtaining supplies
and services from companies that conduct theirbusinesses in a lawful and ethical manner. Teledyne’s
expectations for suppliers and other service providers
are set forth in the Company’s Ethics Code of Conduct
for Service Providers. Among other things, this includes
an expectation that Teledyne suppliers and service
providers do not engage in or facilitate any form of childlabor, slavery or human trafficking. Contractual agreements provide for termination for noncompliance withlaws and standards of conduct. Employees, agents, subcontractors, and recruiters have key roles in preventing
human trafficking and related activities.
In Teledyne’s Global Code of Ethical Business Conduct,
Teledyne employees are encouraged to bring any concerns
or suspicions relating to slavery or human trafficking to
the attention of Teledyne’s Chief Compliance Officer, local
ethics personnel or management. Teledyne periodicallytrains its employees on identifying slavery and humantrafficking issues and mitigating such risks, including
within its supply chain of products. Teledyne’s Disclosure
under the California Transparency in Supply Chains Act
of 2010 and United Kingdom Modern Slavery Act of 2015
and Combating Trafficking in Persons Compliance Plan
has further detail on Teledyne’s anti-human trafficking
program. More details can also be found in Teledyne’s
Human Rights Policy.

OCEAN EXPLORATION

Tracking Ocean Garbage
from Space
Teledyne and The German Aerospace Center (DLR)
are working together to make a difference in theclean-up of the world’s oceans. One of the mostsignificant threats impacting oceans is marine
plastic debris. Marine plastics can come fromderelict fishing gear, ghost nets, trash that flows
from rivers into the oceans, and numerous othersources. This debris can prevent sunlight penetration into the ocean and impact plant and algae
life-cycles. Large aggregate points for trash andpollution form around natural circulation points inthe ocean currents called “gyres”. There are five
major oceanic gyres and numerous smaller gyresthat accumulate pollution. The major river systems,

like the Ganges, Amazon, and Citarum, also
contribute to the marine debris crisis.
Studying marine plastics with satellite and airborne
imagery is a challenge due to the remoteness ofthese sites. It is now possible to collect imagery
that reveals the composition and density of thesedebris fields. With the use of the DLR EarthSensing I​maging Spectrometer (DESIS) sensor
aboard the Teledyne Multi-User System for EarthSensing (MUSES) pointing platform on theInternational Space Station (ISS), coupled with theocean current model General NOAA Operational
Modeling Environment (GNOME), investigators
will be able to both predict the location of andcharacterize these collection points. This will allow
scientists to study the extent, monitor changes,
and plan mitigation actions for the accumulated
debris in these areas.

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GOVERNANCE

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Highlights
We are committed to good corporate
governance, which promotes the long-term
interests of stockholders, strengthens Boardand management accountability and helps
build public trust in the Company.

BOARD EFFECTIVENESS
Board Evaluation andAssessments• Annual Board and Board committee self-evaluation process.

Stockholder Access to
Directors• Stockholders may contact our Board as a whole, individual directors (including
the lead independent director), or management by mail, through the company’s
Corporate Secretary.

Board Oversight of Risk

• The entire Board is responsible for risk oversight and the Board committees oversee
certain key risks.

• Annual Board assessment of corporate governance best practices.

• The Board oversees management in its assessment and mitigation of risks, and intaking appropriate risks.
Succession Planning• The Board actively monitors our management succession and development plans.
• At least annually, the Personnel and Compensation Committee, together with
the Chairman, President and Chief Executive Officer, will report to the Board on
succession planning, including plans for interim succession for the Chief Executive
Officer in the event of an unexpected occurrence.

Diversity and Inclusion
Initiatives• Management regularly updates the Nominating and Governance Committee onsocial responsibility and diversity matters.
• We have made progress in our efforts to promote diversity and inclusion. Today,
approximately one-third of our executive management team, as well as our Boardof Directors, are women.
• We have an Equality, Diversity and Inclusion Committee led by Teledyne’s SeniorVice President, General Counsel, Chief Compliance Officer and Secretary.

		
35

ALIGNMENT WITH STOCKHOLDER INTERESTS
Clawback andAnti-Hedging andPledging Policies• We have a formal policy related to the “clawback” of incentive compensation in
the event of a material financial misstatement or in the event of fraud or criminal
misconduct.
• Our insider trading policy prohibits short sales of our stock, buying or selling put
or call options on our stock, holding our stock in a margin account or pledging
our stock as collateral for a loan, or entering into hedging or monetization transactions with respect to our stock, in each case without prior advance approval
from our Senior Vice President, General Counsel, Chief Compliance Officer andSecretary.

Stock Ownership

Robust stock ownership guidelines:• The Chairman, President, and Chief Executive Officer must retain equity equal invalue to five times his base salary.
• Each of the other named executive officers must retain equity equal in value tothree times their base salaries.
• Each of our directors must retain equity equal in value to five times the annual
director retainer.

Corporate Responsibility• We are committed to acting as a good corporate citizen and operating sustainably.
• Our Global Code of Ethical Business Conduct and other policies and information
related to corporate social responsibility can be found at www.teledyne.com
under “Who We Are” — “Corporate Governance.”

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Anti-Corruption Program
Teledyne maintains an anti-corruption program withcore elements of an effective compliance program,including tone at the top, risk assessment, written policies
and procedures, effective training and education, effectivelines of communication, internal monitoring and auditing,and enforcement. The program and its requirements
apply to Teledyne employees and to third parties who
act on Teledyne’s behalf. Additional information on
Teledyne’s anti-corruption program can be found in
Teledyne’s anti-bribery statement from executive
management and Anti-Bribery Guidance for Teledyne
third parties.

Code of Conduct for Service Providers
Teledyne requires all third parties that act on its behalf,
including suppliers, consultants, and third-party sales
channels, to agree contractually to abide by its Code of
Conduct for Service Providers. The Code requires strict
compliance with all applicable laws and regulations andcontractual requirements. It prohibits any form of corruption in any jurisdiction, whether carried out directly
or indirectly. It similarly prohibits any involvement inor facilitation of tax evasion. It prohibits discriminationand harassment and requires third parties to heed local
employment regulations, such as minimum working age,minimum wage, maximum working hours, overtime,and benefits. It specifically prohibits any involvement inor facilitation of any forced or involuntary labor or childlabor or slavery or human trafficking. It requires service
providers to maintain safe workplaces that are free fromillegal drugs. Service providers also must maintain theirbusinesses in an environmentally responsible mannerand prudently use natural resources and prevent harm to
the environment. Other topics covered include avoidance of conflicts of interest, the need to comply withinternational trade laws, avoidance of conflict minerals,
avoidance of counterfeit parts, the need to comply withaccounting rules, protection of intellectual property,
the importance of reporting only accurate technicalinformation, avoidance of insider trading and avoidanceof anticompetitive behavior. Service providers are also
required to educate their employees on these requirements and to ensure that their suppliers comply withthese requirements as well.

Ethics Hotline
Any employee or third-party doing business for or with
Teledyne may report any ethical concern or suspected
misconduct online at www.teledyne.ethicspoint.com orcall the Ethics Hotline at (877) 666-6968.

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ABOUT THISREPORT38

2021 CORPOR ATE SOCIAL RESPONSIBILIT Y REPORT | TELEDYNE .COM

F

orward-Looking Information: This report contains
forward-looking statements, as defined in the Private
Securities Litigation Reform Act of 1995, with respect
to management’s beliefs about the financial condition,
results of operations and businesses of Teledyne in the
future. Forward-looking statements involve risks anduncertainties, are based on the current expectations of
the management of Teledyne and are subject to uncertainty and changes in circumstances.
The forward-looking statements contained herein
may include statements and goals relating greenhousegas reduction targets, energy, waste and water use
reduction efforts, recycling and conservation efforts,
estimated cost savings, anticipated capital expendituresand product developments, and other strategic options.
Forward-looking statements generally are accompanied
by words such as “projects”, “intends”, “expects”, “anticipates”, “targets”, “estimates”, “will” and words of similar
import that convey the uncertainty of future events or
outcomes. All statements made in this communicationthat are not historical in nature should be consideredforward-looking. By its nature, forward-looking information is not a guarantee of future performance or results
and involves risks and uncertainties because it relates toevents and depends on circumstances that will occur inthe future.
Actual results could differ materially from theseforward-looking statements. Many factors could change
anticipated results, including ongoing challenges anduncertainties posed by the COVID pandemic for businesses
and governments around the world, including production,
supply, contractual and other disruptions; our ability toachieve greenhouse gas emission reduction targets;
our ability to increase the percentage of electricity we
use from renewable sources; our acquisition strategy,
including the carbon footprint of businesses we may
acquire in the future; changes in demand for products
sold to the defense electronics, instrumentation, digital
imaging, energy exploration and production, commercial
aviation, semiconductor and communications markets;
funding, continuation and award of government programs;
cuts to defense spending resulting from existing andfuture deficit reduction measures or changes to U.S.
and foreign government spending and budget priorities
triggered by the COVID pandemic; uncertainties related
to the policies of the U.S. Presidential Administration; theimpact of higher inflation; semiconductor and other supply chain shortages; and new regulations or restrictions
relating to energy exploration and production.
Additional factors that could cause results to differ
materially from those described above can be found in
Teledyne’s Annual Report, on Form 10-K for the years
ended January 3, 2021 and January 2, 2022, and subsequent Quarterly Reports on Form 10-Q and Current Reports
on Form 8-K, all of which are on file with the SEC andavailable in the “Investors” section of Teledyne’s website,
teledyne.com, under the heading “Investor Information”
and in other documents Teledyne files with the SEC.

All forward-looking statements speak only as of the datethey are made and are based on information available
at that time. Teledyne assumes no obligation to update
forward-looking statements to reflect circumstancesor events that occur after the date the forward-looking
statements were made or to reflect the occurrence of
unanticipated events except as required by federal
securities laws. As forward-looking statements involve
significant risks and uncertainties, caution should be
exercised against placing undue reliance on suchstatements.

This report is dated as of February 25, 2022, and unlessotherwise noted, the information in this report is as ofFebruary 25, 2022.
All financial information in this report is limited tocontinuing operations and is reported in U.S. dollars.
Uncertainties are inherent in collecting data from a wide
range of facilities and operations in a global company
such as Teledyne. The data included in this report (otherthan audited financial data) are good faith-estimates andhave not been externally audited.

		
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Telephone: (805) 373-4545 | Fax: (805) 373-4775

www.teledyne.com© 2022 Teledyne Technologies Incorporated | All rights reserved | 2022 02 22

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