This commitment to high ethical standards is firmly embedded within our culture as an organisation. It is endorsed by our Board of Directors and Senior Executive Management Team and flows throughout our organisation.

We have robust policies and procedures in place which ensure that we maintain the highest ethical standards in our day-to-day business activities. These policies cover matters such as corruption and bribery, human rights, slavery and human trafficking, conflicts of interest, fraud prevention, money laundering, fair competition, trade compliance and global data privacy.

In early 2024, we plan to roll out a new Employee Code of Ethics which will bring together a number of our existing policies under a formal Code and further reinforce our commitment to ethical business. The Code will serve as a guide to ethical decision-making and will help employees recognise and respond to ethical challenges they may face when engaging with our customers, suppliers and other stakeholders.

A culture of transparency and fairness We value our culture of transparency where honesty, fairness and trust are promoted. We have a longstanding commitment to a safe and supportive environment that encourages the reporting of concerns about unethical behaviour or violations of law. We believe that by speaking up, we can protect our people and organisation from harm.

Any concerns raised in good faith are taken seriously and treated fairly, and we take appropriate action based on the outcome of our investigations. We recognise that it takes courage to speak up and we are committed to ensuring that anyone who raises a concern is protected from retaliation.

We ensure that all of our people understand the importance of doing business ethically, know how to raise queries or concerns when they arise and understand the consequences of potential misconduct. Going forward, training on ethics will form part of the induction process for all new staff members. Ongoing training is provided to existing colleagues through various mediums, including Almac’s online Learning Management System as well as annual refresher training focused on our customer-facing business development staff. Our Corporate and Legal Affairs team also offers training to address topics which are relevant to specific business functions.

Our supply chain plays a critical role in ensuring we can deliver on the expectations of our customers to the highest possible standards and we will only work with suppliers who share our values and commitments.

In 2021 we published our Sustainable Procurement policy and subsequently during 2023 we formally introduced the first phase of our sustainable procurement programme which outlines how we will engage and monitor our supply base and ensures we work with suppliers who share our commitment to sustainability.

As a key part of our approach, we have introduced a robust Supplier Code of Conduct which sets out our expectations in terms of:

This code will be integrated into supplier agreements and suppliers are responsible for ensuring that they comply with the principles in this Code, and that any third parties engaged by them also apply the same principles.

We will roll out our Supplier Code of Conduct to our strategic vendors i.e. those with over a certain level of spend with Almac.

In order to support and inform our sustainable procurement strategy we will also issue a supplier due diligence questionnaire alongside the Code of Conduct. This questionnaire will provide data on key topics such as ethics, net zero targets, decarbonisation and supplier diversity.

In terms of ethics, it is our expectation that anyone who provides services to Almac shares our values and our commitment to the highest ethical standards. We require our suppliers to strictly adhere to all applicable laws and regulations in the jurisdictions in which they are based, including laws addressing Anti-Corruption and Bribery.

We are currently establishing a baseline measurement of our Scope 3 emissions and will continue regularly engaging with our supply chain on our expectations for reductions, transparency and reporting going forward. For further detail on our Scope 3 approach please see the planet section of this report.

Our Supplier Diversity program will evolve this year with the establishment of a baseline position regarding the current diversity status of our US based supply chain.

We will adopt a whole life cycle cost modelling approach to our sourcing activity and sustainability will be an input factor in this regard, addressing ethical, environmental and social considerations to underpin commercial and quality requirements. To inform this approach, we will embark on a prioritisation exercise across our supply base, where analysis will be informed by a combination of risk and commercial considerations. Our procurement team oversees supply chain engagement and we audit suppliers as appropriate prior to initial engagement and periodically thereafter in line with our Quality Management systems.

We have used the Ecovadis assessment platform for a number of years to evaluate supplier sustainability practices and will continue this engagement going forward.

We have a comprehensive cybersecurity programme that protects our business, our customers and the highly sensitive information entrusted to us. Almac has achieved ISO27001 accreditation, which is an internationally recognised framework for managing information security risks. This certification demonstrates that we have implemented an Information Security Management System (ISMS) that covers people, processes and technology. Almac has undergone rigorous audits by independent experts to verify that we meet the best practices and requirements of the ISO27001 standard. We have comprehensive policies including Almac’s Information Security Policy which details the physical, procedural and technology-based controls we implement to protect data in our possession.

Almac requires all our employees, third-party data processors and suppliers to comply with our policies and procedures on cybersecurity and we continuously monitor and review our performance and compliance to ensure we maintain our high standards and mitigate any potential risks.