2022 IMPACTREPORT
INSPIRED BY NATURE.
DRIVEN BY PURPOSE.
PARTNERS FOR ACTION.

1 | 2022 Impact ReportABOUT THIS REPORTThis is Modern Meadow’s inaugural Impact Report. It
includes non-financial data and activities for the period
beginning January 1, 2022, and ending December 31, 2022
(except where otherwise indicated).

TABLE OF CONTENTS
About This Report .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 2Leadership Message . .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 4Our Story .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 5Prioritizing Sustainability .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 8

The content is based on those non-financial
environmental, social, and governance (ESG) topics
deemed most important and influential to our businessand stakeholders through our materiality assessment,
as well as a review of relevant reporting standards andframeworks including the Sustainability AccountingStandards Board (SASB) Medical Equipment &Supplies, Chemicals, and Biotech & Pharmaceuticals
Sustainability Accounting Standards, and the UN
Sustainable Development Goals.
Throughout this report, we guide readers to additionalsources of information. It is our intention to continuallyreview the Company’s ESG progress and strengthen ourreporting and disclosures in future reports. We plan to
publish our 2023 performance in our next report in 2024.

Driving Change .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 11
Exceeding Stakeholder Expectations .  .  .  .  .  . 15
Advancing the Fundamentals . .  .  .  .  .  .  .  .  .  .  . 18

2 | 2022 Impact Report

We value and welcome engagement from all
stakeholders. Please send comments or questions
about this report to Modern Meadow at
impact@modernmeadow.com

INSPIRED by Nature.
DRIVEN by Purpose.
PARTNERS for Action.
Modern Meadow was founded to address a pressing global challenge:
The materials that underpin the way we live, work, and play and that
support our well-being are fundamentally unsustainable.
The world uses materials that overtax the environment and urgent
action is needed to stop the resulting planetary degradation. At
Modern Meadow, we are taking actions with partners through ourinspired-by-nature and purpose-driven approach. We are collaboratingwith best-in-class partners to introduce new materials and processes
that can enable a healthier future for our planet. This is who we are.

“At Modern Meadow, our mission is to deliver innovation inspiredby nature and powered by greener science. Since our founding,we have worked to research, develop, and bring to market with
our partners truly transformational bio-based solutions andproducts that are animal-free and use renewable and recyclable
inputs. From the very beginning, our mission has been to supporta bright and healthy future for both people and the planet.”
ANNA BAKST
Modern Meadow,
Executive Chair of the Board of Directors

3 | 2022 Impact Report

Our founding mission andthe core purpose thatdrives us every day is todevelop nature-inspired,future-focused innovations
with our partners to build
a more sustainable world.

LEADERSHIPMESSAGE
Welcome to Modern Meadow’s inaugural Impact Report. It is both
exhilarating and humbling to lead Modern Meadow as it enters a new
defining chapter while simultaneously witnessing society race to address
the very-real impacts of the climate crisis.
As the theme of our report notes, we are driven by our purpose to makea real-world impact through collaborative partnerships. We were founded
to reimagine how the world approaches materials, sustainability, andconsumption. While our approach, expertise, and technologies have
evolved significantly in the past 10 years, our goal has been steadfast:enabling alternative, nature-inspired materials to replace animal-derived
and petrochemical-based materials to build a more regenerative andcircular world. While we are just getting started on this journey, we areproud of the impact we have achieved so far, and excited for what wewill achieve in the future.
Making Sustainable Real-World Impact Possible

Despite our desire for speed, innovation isn’t always immediatelytransformative. We envision that the materials we create will become
the preferred solution across a variety of uses as we move from“bio-replacement” to “bio-better” to “bio-best.” We are helping ourpartners begin – and continue – this journey because we believe it is
the only path that will lead to lasting transformational change.
Within Modern Meadow, we are on a transformative journey too. We
seek to attract the best and the brightest, and are committed to fostering
an exceptional culture where our teams can grow, thrive, and succeed
together. Our employees bring diverse experiences, backgrounds, andperspectives, which enables our collective ability to solve complex
problems critical to our success. Currently, our workforce is 43% women,
while 52% identifies as racially or ethnically diverse.
At Modern Meadow, we are here to empower others, to partner, and to
be a catalyst for the wellness of people and the planet. The journey will
not be quick or easy, but I have no doubt in our ability – and that of ourpartners – to remain steadfast on the path forward. Thank you for yoursupport and for joining us on this journey.

Modern Meadow’s innovations are helping our partners develop anddeliver more sustainable products at scale – without sacrificing on
performance or luxury. For example, our coated textile – BioFabbrica
Bio-TexTM, powered by Modern Meadow’s Bio-Alloy™ technology –reduces greenhouse gas emissions (GHG) by more than 90% compared
to traditional chrome-tanned leather, while using 83% less water tomanufacture. Another one of our innovations – Bio-Coll@gen™, which
is an output of our Bio-F@armTM technology platform – is enabling our
luxury skincare partners to offer products that are efficacious, sustainable,
and animal-free.
4 | 2022 Impact Report

CATHERINE ROGGERO-LOVISIChief Executive Officer

AT A GLANCEOUR STORYFOUNDED2011

WE MAKE HIGH-PERFORMING,
NATURE-INSPIRED MATERIALSTHAT ARE GOOD FOR THE WORLD.
We were founded in 2011 by Andras Forgacs, a disruptor who
wanted to make the world better using sustainable materials,
starting with a leather alternative.

HEADQUARTERS
Nutley, New Jersey
EMPLOYEES
114
BUSINESS UNITS
Biomaterials, Beauty & Wellness,
and Biomedical

2022 ACCOLADES“Modern Meadow was founded on a simple idea – thelatest advances in biology could unlock materials capableof transforming our daily lives in myriad positive ways andmove vast industries away from unhealthy dependencies on
animal products and petrochemical plastics.”

ANDRAS FORGACS
Modern Meadow Founder

Fast Company
Modern Meadow’s Bio-Alloy™ technology honored as a
finalist in 2022 Innovation by Design Awards in the Fashion
and Beauty, Materials, and Sustainability categories
Business Intelligence Group Sustainability
Modern Meadow’s Bio-Alloy™ technology named
2022 Sustainability Product of the Year
Inc. Magazine
Modern Meadow received 2022 Bestin Business Award in Sustainability

5 | 2022 Impact ReportDuring the past decade, Modern Meadow has evolved and grownwhile remaining focused on our original purpose: to reinvent materials
to make the world better for people and the planet. Today, we focus
our efforts within three business units – Biomaterials, Beauty &Wellness, and Biomedical. Together, they leverage our two proprietaryinnovative technology platforms – Bio-Alloy™ and Bio-F@rm™ –which harness the unique properties of proteins to sustainably movethe world away from petrochemical and animal-derived inputs
without compromising on performance. These innovations can drop
into existing infrastructure for immediate scalable adoption. We work
closely with development partners and production facilities to help
ensure our products are 100% traceable from Lab-to-Brand™.
We design protein building blocks and delivery mechanisms that help ourpartners replace petrochemical and animal inputs with better materials.

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INTRODUCING OUR PROPRIETARYAPPLICATION TECHNOLOGY PLATFORMS
Bio-Alloy™ are miscible blends. In the biomaterials sector, using
the power of plant-based proteins and bio-based polyurethane,
Bio-AlloyTM transform textiles into a range of materials withdiverse performance, appearance, look, and feel that can beused for a wide array of purposes while reducing impact on theplanet. Learn more about Bio-AlloyTM in this short video.
Bio-F@rm™ (Fermentation-based Active Recombinant
Macromolecule) showcases our unique ability to select andengineer fermentation-based proteins. The platform
combines Modern Meadow’s proprietary know-how regarding
strain engineering, protein design, analytics, precision
fermentation, and downstream processing to produce tailored
proteins with desired properties and functionality for various
applications. The first commercial application from the platform
is Bio-Coll@gen™. Learn more in this short video.

In January 2023, we announced that we are developing a partnershipwith SINGTEX, a global supplier to world-renowned brands and apioneer in all-around, eco-friendly functional textiles. Together, we aredeveloping new and innovative biomaterials across a range of applications
starting with a sustainably produced, high-performance, waterproof
membrane-based material for outdoor apparel. These new materials
will be free of solvents like Dimethylformamide (DMF) and per- or
poly-fluorinated alkyl substances (PFAS).

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7 | 2022 Impact ReportPE

WE EXIST AT THE INTERSECTION
OF PERFORMANCE, SCALABILITY,
AND SUSTAINABILITY.

TY

Scaling for Impact
To help create supply chain-level change, we focus on innovations thatare high-performing, scalable, and sustainable – from the products
we make today to the technologies and application platforms we aredeveloping for the future.

SCALABILITYOUR DEVELOPMENT PROCESSPROTEIN DESIGN
Select and design protein for desired properties
and functionality

1

APPLICATION
Leverage proprietary biotech and materials
science to create product applications

2

TUNING
Iterate with partner, tuning product toaddress specific needs

3
PARTNERSHIP-ENABLED

Using innovative production processes, BioFabbrica reduces andreuses inputs while moving the world away from petrochemical andanimal-derived inputs. Its inaugural product is BioFabbrica Bio-Tex™,a sustainable range of responsibly produced coated textiles poweredby Modern Meadow’s Bio-Alloy™ technology. Bio-Tex™ is lightweightand delivers superior color vibrance and performance, reducing GHG
emissions by more than 90% compared to traditional chrome-tanned
leather. A Lab-to-Brand™ material, Bio-Tex™ promotes traceability
and transparency. It is also a certified bio-based product under the U.S.
Department of Agriculture BioPreferred® program. Several brands
currently use Bio-Tex™, including SENREVE, Everlane, and Tory Burch.

We partner with best-in-class companies to develop bio-based supply
chains and with businesses looking to design for sustainability from thestart. Through an iterative process, we work with partners to understandtheir challenges and co-create solutions unique to their industrial sector
needs. We move from development to scale-up through a network of
manufacturing partners, vetted and monitored on an ongoing basis forcontinuous improvement (see chart below).

IN-HOUSE DRIVEN & IP-PROTECTED

In 2021, BioFabbrica was formed. A collaboration between Modern
Meadow and world-renowned Italian textile and materials supplier
Limonta, it develops bio-based materials for multiple applications,
including solutions in accessories, footwear, and apparel.

SCALE-UP
Deploy best-in-class contract manufacturing
partnerships for our drop-in technology

4
5

COMMERCIALIZE
Complete partnerships to accelerate andamplify product commercialization

OUR SUSTAINABILITY PRINCIPLESPRIORITIZINGSUSTAINABILITY

Our three sustainability principles help us stay focused on the mostcritical environmental areas and continuously challenge us to design
our products and systems in the most sustainable manner. They are:Take Urgent Climate Action
We recognize we must take climate actions in supportof the 2015 Paris Climate Agreement by transitioning
away from both animal-derived inputs and fossil-derived
materials and chemicals that are co-produced along
the petrochemical supply chain. We are committed todisrupting these supply chains and offering newalternatives without compromising performance.
Maintain a Balanced Ecosystem
We strive to source inputs that support the growth of asustainable bioeconomy without adding pressure to theglobal agricultural systems already in place. This includes
efforts to minimize agricultural land use, freshwater
consumption, and eutrophication from waste emissions.

WE ARE BUILT ON THE CONCEPT OFSUSTAINABILITY. IT IS WHO WE ARE AND
HOW WE OPERATE, FIRST AND FOREMOST.
Sustainability is a core tenet around which we have built ourbusiness processes, from the factors we prioritize as we develop
solutions, through our innovation-to-market process, to the typesof partners and suppliers we work alongside.

8 | 2022 Impact Report

Promote Circularity and Responsible End-of-Life
We support the development of circular systems that
promote the use of renewable and recycled inputs aswell as processes and systems that are designed for a
responsible end-of-life.

In 2022, we began a process to identify science-based targets alignedwith our sustainability principles and develop key performanceindicators to measure our progress. We intend to share both in our2023 Impact Report, which we will publish in 2024.

OUR SUSTAINABILITY AREAS OF FOCUS
To help identify the full spectrum of sustainability issues that impact
our business and where Modern Meadow can have the greatest impact
throughout our value chain, we conducted our first non-financial
materiality assessment in 2022. We reviewed current reporting andsustainability standards and the UN Sustainable Development Goals(SDGs) and benchmarked our peers, partners, and customers. Finally,
we interviewed internal and external stakeholders from a variety of
disciplines to define Modern Meadow’s top sustainability priorities,
which include:

Scaling the commercialization of the company’ssustainable technologies
Featuring and promoting the comparative
sustainability benefits of our products andtechnologies

Driving Change
Scaling the commercialization of technologies that combine
sustainability, performance, and longevity to:• Displace less sustainable technologies and products• Enable the sustainability of our partners by reducing or
eliminating carbon/energy use, water use, animal use,
toxic chemical use, and waste

Exceeding Stakeholder Expectations• Circularity• Responsible partnership• Traceability

Driving forward innovation that maintains asustainability advantage
Based on the results of our assessment, we have organized our focus
areas into three categories as outlined (to the right.) We have aligned
each area with the UN SDGs where we believe we can have the greatest
impact. Our future reporting will provide additional information on how
we are addressing these areas and supporting the UN goals.

• Diversity, equity, andinclusion• Occupational healthand safety• Management of legal andregulatory environment

Advancing the Fundamentals• Environmental stewardship• Transparency and disclosure• Responsible and ethicalgovernance• Responsible supply chain
management

9 | 2022 Impact ReportGOVERNANCE
The Modern Meadow Board of Directors oversees the company’ssustainability efforts and discusses sustainability regularly. Our
Senior Leadership Team guides and reviews our sustainability
agenda on an ongoing basis. It is supported by our internal Impact
Committee, which meets on a quarterly basis to guide strategy
development and implementation.
Modern Meadow Impact Advisory Board
In 2022, we established an Impact Advisory Board to help accelerate
Modern Meadow’s sustainable mission, strategic partnerships, andimpact at scale. It is led by our Senior Director of Corporate Sustainability
with sponsorship of our CEO and includes internal and external subject
matter experts. The Impact Advisory Board meets quarterly.

Catherine
Roggero-Lovisi,
Chief Executive Officer

Quintin Cassady,General Counsel

David Williamson,
Chief Science andTechnology Officer

Rebekah Kapfer,
Senior Director,
Communications

Pinky Lakhia,
Chief Human
Resources Officer

Ann Lee Jeffs,
Senior Director,
Corporate
Sustainability

External Advisors:
John Frazier,
Senior Fellow,
Hohenstein Instituteof America

10 | 2022 Impact Report

Steve Rochlin,
CEO, Impact ROI“Modern Meadow is a great example of a company leading thebio-economy revolution, which has great potential to drive thetransition to a more sustainable economy overall. The formationof the Impact Advisory Board speaks to the commitment of its
leaders to generate sustainable impact that’s also profitable.”
STEVE ROCHLIN
Modern Meadow Impact Board Advisor“Modern Meadow is comprised of innovators that not only
positively impact sustainability, but they have the potential
to tailor the performance of materials. This is a rare but
needed combination to demonstrate and create pull forsustainable innovation.”
JOHN FRAZIER
Modern Meadow Impact Board Advisor

DRIVING
CHANGEOUR WORK BEGINS WITH DEVELOPINGA FULL UNDERSTANDING OF UNMETCOMMERCIAL AND SUSTAINABILITY
NEEDS THAT ARE ALIGNED WITH OURSTRATEGIC DIRECTION.
Armed with this information, our scientists and engineers look forsolutions to meet these needs. Once a potential solution is in sight,
we move into product development. This three-stage processincludes quarterly project reviews and rigorous criteria that projects
must meet before moving from one stage to the next (see chart on
page 12). Along with performance and scalability, criteria include
material input, composition, end-of-life attributes, and key
sustainability performance indicators that come together into a
product sustainability scorecard.

WE CREATE SUSTAINABLE SOLUTIONSTO EMPOWER OUR PARTNERS TO CHANGE
THE WORLD.
Our ability to lead the shift to a sustainable circular economy
is grounded in our unique innovation-to-market process. It is
designed to deliver first and foremost on sustainability withreal-world impacts without compromising performance.

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As a solution continues to make its way through development, we
perform environmental life-cycle “hot-spot” assessments to improve
its sustainability profile before we conduct a full life-cycle assessment(LCA). This provides an understanding of the solution’s sustainability
attributes in quantitative terms at different parts of the development
process. It also allows us to identify environmental areas of focus toprioritize our efforts in reducing product impacts before productlaunch. Ultimately, every product we develop goes through an LCA
as a product family. This information becomes part of the productdossier that we use to support our partners in making their own
product claims.

SUSTAINABILITY IS AN INTEGRAL PART OF
OUR DISCOVERY AND DEVELOPMENT PROCESSCUSTOMER/BRAND FEEDBACK Increasing catalytic partner engagement

0

DISCOVERY PHASE

Fundamental technical and sustainability discovery, while validating commercial opportunities
1

PRODUCT DEVELOPMENT STAGE 1

Quantifying the Impacts of Bio-based Alternative Materials
In February 2022, we announced the findings from an LCA of our prototype
material family called Bioleather (BL1), a more sustainable bio-derived
alternative to traditional chrome-tanned bovine leather. As part of ourcommitment to transparency, we published the full results in thepeer-reviewed Journal of Cleaner and Circular Bioeconomy. BL1 reduces
GHG emissions by nearly 80% compared to conventional leather and 21%
compared to synthetic leather, respectively. BL1 also reduces eutrophication
potential (which causes harmful algal blooms, dead zones, and fish kills),
land use, and water consumption impact by more than 95% compared to
traditional leather.

Transition to early product development including prototyping and proof-of-concept
PRODUCT DEVELOPMENT STAGE 22

Transition to application development and scaling through tech transfer to manufacturing partner and pilot
PRODUCT DEVELOPMENT STAGE 3

3After we completed BL1, we developed BioFabbrica Bio-TexTM in partnership with
Limonta. The chart below shows the environmental performance for BL1 and
Bio-TexTM compared to traditional chrome-tanned leather. Bio-TexTM is made witha different type of textile and energy source than BL1, which accounts for thedifferences in impact, noted below

Transition to optimization, launch, and transition to partner“What we do at Modern Meadow is what good market-focusedorganizations do; we look at foundational technology and overlap
it with unmet needs in the market. But unlike many otherorganizations, we look at sustainability criteria including
considerations for regeneration and circularity aspects frominception – sustainability is never an afterthought. This enables
us to create an open ‘sandbox’ with clear bounds from an
innovation standpoint that includes sustainability to help
frame the space we can work within.
“We realize we are not perfect and we’re on a journey. But with
our innovation process, we can continually ideate, create
new platforms, and extend the ones we have as we drive
climate action.”
DAVE WILLIAMSON
Chief Science and Technology Officer

12 | 2022 Impact Report

Bio-Tex™

BL1

Impact categorycompared to traditional
chrome-tanned leather

compared to traditional
chrome-tanned leather

GHG Emissions

91% improvement

80% improvement

Non-Renewable Energy

75% improvement

50% improvement

Water Consumption

83% improvement

95% improvement

Land Use

91% improvement

95% improvement

Eutrophication

90% improvement

95% improvement

BIOMATERIALS APPLICATIONS: MOVING FROM CONCEPT TO REAL-WORLD IMPACTPRODUCTPERFORMANCESUSTAINABILITY

BIO-VERA™
Vegan, Engineered,Renewable Alternative
Material•C lose to 2x wear, tear, and strain performanceversus leather• Versatility of look and feel, colors and finish• Looks, feels, and ages like leather, suede, and chamois•2 5% lighter than leather•C ombines bio-content and recycled materials•>
 90% sustainable prior to finishing• Low-impact novel animal-free material

BIO-FREED™

• No color limitation• 95% less water• Dyeable and flexible use• 66% less energy use• +80% time reduction• 80% less dyes and chemicals• Breatheable• Abrasion and water resistant• Lightweight• Durable• High bio-renewable content (>60%)• No solvents• No PFAS• Fewer material system layers• Durable• Colorfast• Adaptable, diverse uses
• Luxurious feel and look
• Leather-like• 91% less GHG emissions• 83% less water consumption• 90% less eutrophication• 60% less energy use

Fast, Resource-Efficient
Enhanced Dyeing
Technology

BIO-TEX SHIELD™
Breathable
Performance
Biomaterial

BIO-TEX™
Enriched
Vegan-CoatedTextileDISCOVERY PHASE

BIO-VERA™
BIO-FREED™
BIO-TEX SHIELD™
BIO-TEX™

13 | 2022 Impact Report

PRODUCT DEVELOPMENT
STAGE 1PRODUCT DEVELOPMENT
STAGE 2PRODUCT DEVELOPMENT
STAGE 3

COMMERCIALIZEDPARTNERSHIP IN ACTION: MODERN MEADOW
AND LIMONTA MAKING REAL-WORLD IMPACT
MARCH 2022

MAY 2022

FEBRUARY 2023

SENREVE launched
Vegan Terra using
BioFabbrica Bio-Tex™

EVERLANE reimagined it’s
New Day Market Tote with
BioFabbrica Bio-Tex™

TORY BURCH introduces Ella Biousing BioFabbrica Bio-Tex™

SCALABILITYPERFORMANCESUSTAINABILITY

SENREVE

EVERLANETORY BURCHIn March 2022, luxury handbag designer
SENREVE launched a new vegan collection,
Vegan Terra, which uses BioFabbrica
Bio-Tex™ material, powered by Modern
Meadow’s Bio-Alloy™ technology. The
SENREVE Vegan Terra Collection includes
three bags in five different colors.

In May 2022, Everlane proudly introduced theEverlane hide-free leather collection. Using
BioFabbrica Bio-TexTM, powered by Modern
Meadow’s Bio-AlloyTM technology, it combines
the beauty and quality of Italian leather
craftsmanship without the heavy footprint.

In February 2023, fashion brand Tory Burchwas the latest to introduce a plant-based
leather alternative tote, known as the Ella Bio,using BioFabbrica Bio-Tex™ material.

“It is a great substitute for animal leather,with a lot of sustainable qualities like lesswater consumption, less chemical usage,
and better color rendering.”
CORAL CHUNG
SENREVE Founder and CEO“For three years we’ve been working to
remove virgin-leather from our supply chain.
It’s our single largest material impact. And
while fashion is a small part of the problem,
we can motivate change. This new partnershipwith Modern Meadow creates plant-based
leather… It’s not just a replacement toleather, it’s meant to be better.”
MICHAEL PREYSMAN
Everlane Founder and Climate Leader

14 | 2022 Impact Report“The Ella Bio meets our design, quality, anddurability expectations and is made with aninnovative new material, which feels andlooks like leather but is made from 64%
USDA-certified bio-based content.”
JENNIFER GOOTMAN
Global Head of Sustainability & ESG Strategy at Tory Burch

EXCEEDINGSTAKEHOLDEREXPECTATIONSPROMOTING DIVERSITY,SUSTAINABLE DISCOVERY, AND
ENTREPRENEURIAL ATTITUDES
Organizations will not exist tomorrow unless they create a work
environment in which people can thrive. As an employer, we
recognize the expectations our employees have of us, and wework to exceed them every day.

WE DON’T JUST WANT TO MEETOUR STAKEHOLDERS’ EXPECTATIONS,WE WANT TO EXCEED THEM.
Increasingly, stakeholders are calling on companies todemonstrate how they support the basic rights and needs oftheir employees and communities. As we aspire to grow ourorganization, we are conscious of our responsibilities to andimpact on stakeholders – including our employees, investors,
partners, and suppliers.

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Our efforts to accelerate the transition to a climate-resilient,bio-based, and circular world rest on the ability and ingenuity of
our employees. Since our founding, we have grown to more than
100 employees. Each team member’s talent, passion, and creativity
contribute directly to our company’s purpose, growth, and success.

Modern Meadow respects the personal dignity,
privacy, and rights of every employee and iscommitted to maintaining a workplace free fromdiscrimination and harassment.

OUR WORKFORCE IS BUILT ON DIVERSITY

OCCUPATIONAL HEALTH AND SAFETY

Innovation is fueled by diverse perspectives, ideas, and concepts.
At Modern Meadow, this is true from ideation to commercialization.
We seek to attract a highly diverse workforce and to maintain aworkplace based on the principles of equity and inclusion. We believe
this is vital to empowering our employees to grow and advance withus throughout their careers.

Modern Meadow’s health and safety program protects our employees,
contractors, and visitors each day by striving for zero occupational injuries.

WHY I JOINED MODERN MEADOW“Working here is so dynamic, there are advances every day. But
in addition to creating sustainable products and technologies,
Modern Meadow employees are also passionate about ways
they can impact change right now in their daily lives.”
SHWETA LAKHANI
Material Design Lead andCo-lead of Modern Meadow’s Culture Club“The culture at Modern Meadow is equivalent to a great family,
based on respect. The work environment is full of energy, greatideas, and enriching diversity. We have a great team that strives
to take it to the next level continuously.”

ALEJANDRO VICENTE
Fermentation Engineer

16 | 2022 Impact Report

Our efforts are guided by our Standard Operating Procedures. Startingwith our onboarding process, employees receive mandatory informationon our employee health services program and how to report safetyincidents and near-miss incidents. For all employees, we hold mandatory
monthly health and safety meetings to discuss safety-related trends.
We are committed to the safety of our employees, working to:Ensure we are not putting ourselves or othersat risk by our actions.
Ensure that all employees know what to do if
an emergency occurs.
Comply with the applicable rules on healthand safety at work and take every reasonableprecaution to maintain a safe and healthy
working environment.
Encourage employees to report any behavior,installations, or items likely to compromise thesafety of our working environment, as well as
all accidents, however minor.

2022 EMPLOYEE DEMOGRAPHICS
Total Workforce
by Gender

Total Workforce
by Ethnicity

Senior Leadership (VP+)
by Ethnicity
1% NotSpecifiedBlack orAfrican American 10%
43%
Women

57%
Men

2% Twoor MoreRaces

Hispanic or
Latino 9%

Not
Specified
5%Black orAfricanAmerican5%

Senior Leadership (VP+)
by Gender

47%
Women

53%
Men

38%
Women

17 | 2022 Impact Report

38%
White

White

Asian

White

32%

47%

21%

68%

Total Workforce by Age

New Hires

62%
Men

Asian

62%
Racially &EthnicallyDiverseUnder 30
37%

30-49
47%

50 and Older
16%

ADVANCING THE
FUNDAMENTALSRESPONSIBLE AND ETHICAL GOVERNANCE
Core ethical values and principles are fundamental to Modern
Meadow’s journey and future success. Our efforts are guided by
the Modern Meadow Code of Ethics, which outlines the behavior
we expect of our employees. We encourage employees to raise
concerns to their manager or to a member of our Human Resources
or Legal teams. An individual who reports an incident in good faithwill not be subject to reprisal or retaliation.
We extend our expectations to our supply chain. All Modern
Meadow suppliers are expected to demonstrate ethical, social,and environmental responsibility, as outlined in our Supplier Codeof Conduct. We monitor compliance of our contract manufacturing
partners with our Code through their participation in Blue Sign
and ISO certifications.

ENVIRONMENTAL STEWARDSHIPAS WE WORK TO TRANSFORM THE
WORLD, WE ARE FOCUSED ON THE
FUNDAMENTALS OF HOW WE OPERATE.
We work to prevent and mitigate our potential negative impact
on society and the planet through sound governance, ethicalpractices, innovative approaches, and transparency.

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Our sustainability principles (see page 8) drive not only ourinnovation and product development, but also guide our efforts
to decarbonize our operations, reduce our use of natural resources,and divert waste from landfill.
Decarbonization
In 2022, we engaged a third-party to help us understand our energy
use more fully and how we can reduce it.
We conduct our operations within a shared leased facility. More than
90% of the facility’s energy is supplied from a highly efficient onsite
co-generation plant. We only source grid energy during times of peak

demand. To help reduce energy within our facility, we use occupancy
sensors that turn off lights and reduce heating when employees are notpresent, LED lights, and Energy Star-certified appliances.
Our Scope 3 emissions comprise themajority of our carbon footprint and weare developing a plan to reduce them thatwill involve close collaboration with our
suppliers and partners. To help reduce
travel-related emissions, we encourage our
employees to take public transit to workby paying for ride-share services from local
train stations and offer electric vehicle
charging stations.

Scope 2Emissions2%
Scope 3Emissions

EMPLOYEES ROLL UP THEIR SLEEVESFOR THE ENVIRONMENTThe Modern Meadow Culture Club is an employee-led, Human
Resources-supported initiative. Its members host events suchas monthly employee birthday and work anniversaries,
cultural celebrations, and volunteer opportunities. In 2022,
the Club launched several corporate sustainability andcommunity projects. Below are two examples.

98%

Waste Reduction
We are committed to responsibly managing waste produced in ouroperations and throughout our supply chain. We use strategies such asincreased diversion from landfills and overall waste minimization, while
adhering to national, state, and local waste laws and regulations.
Reducing Our Use of Plastic
From petri dishes and pipettes to single-use latex gloves, bio-based
research and manufacturing requires a significant amount of plastic.
We are working to reduce both its use and the amount that goes into
landfill. This includes looking at options to replace single-use plastic
lab equipment with reusable versions.
In 2022, we eliminated single-use plastic cups within our office cafeteria
and breakrooms, providing employees with reusable cups, plates, andutensils. In addition, to help eliminate food scraps, members of our
Culture Club introduced food composting. Within the program’s first six
months, employees helped divert more than 500 pounds of food wastefrom the landfill.

19 | 2022 Impact Report

Through a new hydroponic
community garden installedon the third floor, employees
can pick their own salad
for lunch, choosing from
25 different edible plants.

Together with the New
Jersey Tree Foundation and
the Morristown Shade Tree
Commission, 75 employees
planted more than 40 trees
donated by Modern Meadow
in a New Jersey park in a
low-income community.

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