TECH: Premium Proteins at a Proper Price; Downgrade to Sector Perform

Research evidence excerpt

TECH: Premium Proteins at a Proper Price; Downgrade to Sector Perform

Bio-Techne Corporation

Key sustainability questions

This section is intended to highlight key sustainability discussion points relevant to this company, as well as our views on the outlook. Both the

questions we highlight and our responses will evolve over time as the dialogue between management, analysts and investors continues to

advance. We welcome any feedback on the topics.

Our view

What are the most material As a life sciences tools and diagnostics manufacturer with global operations and

sustainability issues facing this ISO 14001-certified sites, Bio-Techne's most material sustainability issues are: (1)

company? product quality and safety – its reagents, proteins, and diagnostic controls directly

inform clinical decisions, making manufacturing integrity and regulatory compliance

critical; (2) environmental footprint – GHG emissions from multi-site operations

and laboratory-intensive manufacturing, plus packaging waste across 35,000+ SKUs;

and (3) human capital management – attracting and retaining specialised scientific

talent in a competitive market. The company completed its first formal Double

Materiality Assessment in fiscal 2025, which identified climate change as a key

financial risk and led to an inaugural climate risk assessment of physical and

transition exposures. We note that Bio-Techne does not yet have validated science-

based emissions targets – SBTi submission is planned for calendar year 2026.

Does the company integrate The Board's Sustainability Oversight Council – led by the General Counsel and

sustainability considerations into its including the CEO and other executive leaders – is charged with integrating

strategy? sustainability into corporate strategy.