908 Devices : 2024 ESG Report

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ESG Report

Contents

4 A Message from our CEO

6 Analysis at the Speed of Life

16 Ethics & Compliance

23 Corporate Governance

25 People

35 Product Quality and Supply Chain Management

40 Environmental Sustainability

About This Report

In the process of developing this report, we identified the Environmental, Social, and Governance (ESG) issues most relevant to our business by analyzing leading ESG reporting frameworks, third-party rating agency criteria, peer company practices, and input from key stakeholders. The Sustainability Accounting Standards Board (SASB) standards were an important input into our ESG priority assessment process. Although SASB classifies us in the Medical Equipment & Supplies industry, we do not manufacture any regulated medical devices or diagnostic tools, and none of our products interact directly with patients. When evaluating our ESG activities, please note that while we do not engage in any activities regulated by the Food and Drug Administration (FDA), we strive to adhere to the highest standards related to quality and ethics.

Forward-Looking Statements

This report includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts are forward-looking statements, including, without limitation, statements regarding the expected uses and capabilities of the Company's products. Words such as "may," "will," "expect," "plan," "anticipate," "estimate," "intend" and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. These forward-looking statements are based on management's current expectations and involve known and unknown risks, uncertainties and assumptions which may cause actual results to differ materially from any results expressed or implied by any forward-looking statement, including the risks outlined under "Risk Factors" and elsewhere in the Company's filings with the Securities and Exchange Commission which are available on the SEC's website at www.sec.gov. Additional information will be made available in our annual and quarterly reports and other filings that we make from time to time with the SEC. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it cannot guarantee future results. The Company has no obligation, and does not undertake any obligation, to update or revise any forward-looking statement made in this report to reflect changes since the date of this ESG Report, except as may be required by law.

A Message from our CEO

A Message from our CEO

In 2012, we set out to make chemical analysis simple, smart, and speedy. By incorporating our microscale mass spectrometry (Mass Spec), microfluidics, and analytics and machine learning technology platform into handheld and desktop devices, we focus on applications that are meaningful, impactful, and make a difference in people's lives. Our devices are used at the point-of-need to interrogate unknown and invisible materials and provide quick, actionable answers to directly address some of the most critical problems in life sciences research, bioprocessing, pharma/biopharma, forensics, and other adjacent markets.

Our focus on this diverse range of end markets means that we have a commitment to a diverse range of stakeholders, including customers, investors, employees, suppliers, and members of our community at large. I am pleased to build upon this commitment with the release of our inaugural Environmental, Social, and Governance (ESG) Report. This report is intended to communicate our progress on a range of sustainability and social responsibility issues to all our stakeholders.

For example, we assigned formal oversight responsibility for ESG to our Nominating and Corporate Governance Committee. Led by our Chief Legal and Administrative Officer, a cross-functional working group is responsible for leading ESG initiatives across the company and providing regular updates to the Board of Directors on the status of the program. Moreover, we established a Culture Committee comprised of employees from various functions, departments, and locations that is focused on promoting inclusivity, volunteerism, and career development across the organization.

Our commitment to managing ESG issues is underpinned by our core vision: to empower people to take swift action in life-altering applications. We will continue to assess and enhance our ESG policies and practices, and we are excited to provide further updates on our progress in the coming years.

Sincerely,

Kevin J. Knopp, Ph.D.

CEO & Co-Founder

Kevin J. Knopp, PhD

CEO & Co-Founder

Analysis at the Speed of Life

Analysis at the Speed of Life

At 908 Devices, we have developed an innovative suite of purpose-built devices for chemical analysis at the point-of-need. Leveraging our proprietary technologies, we make devices that are significantly smaller and more accessible than conventional laboratory instruments. Our customers can use these devices as accurate tools where-and-when their work needs to be done, rather than using overly complex and centralized analytical instrumentation. We believe the insights and answers our devices provide accelerate workflows, reduce costs, and offer transformational opportunities for our end users.

Our current products are available for both battery-powered handheld and desktop applications. Front-line workers rely upon our handheld devices to combat the opioid crisis and detect counterfeit pharmaceuticals and illicit materials in the air or on surfaces at levels 1,000 times below their lethal dose. Our desktop devices are accelerating development and production of biotherapeutics by identifying and quantifying extracellular species in bioprocessing critical to cell health and productivity. They sit alongside or are directly connected to bioreactors and fermenters producing drug candidates, functional proteins, cell and gene therapies, and synthetic biology-derived products.

Our Technology

We are making chemical analysis simple, smart, and speedy with our devices that empower people to take swift action in life-altering applications. We fundamentally believe that the technology platform we have built and the investments we are making will allow people to answer questions in times and places that were previously inconceivable.

Mass Spec is the gold-standard analytical technology for laboratory-based molecular analysis and can identify and quantify sample components via molecular weight measurements. Mass Spec is highly regarded for its ability to provide an extraordinarily detailed analysis of a wide variety of samples - from small molecules to large complex proteins. While Mass Spec is an extremely powerful analytical tool, conventional Mass Spec instruments are very large, expensive, and highly complex, which has profoundly bottlenecked market opportunities and relegated them to the equivalent of mainframe computers in central facilities.

We have developed a core technology platform designed to bring Mass Spec out of the confines of central laboratories and to the point-of-need with high-fidelity handheld and desktop devices. Using semiconductor microfabrication techniques, we design and produce components that are more than a thousand-fold smaller in volume when compared with most laboratory Mass Spec instruments and at a fraction of the cost. These landmark proprietary advances have enabled the first truly handheld Mass Spec devices and compact desktops. The combination of our High-Pressure Mass Spec (HPMS) technology, our proprietary microfluidic sampling and separation technology, our data analytics, and our machine learning technology provides the foundations of an adaptable platform that can serve a growing number of new and adjacent applications and markets.

Transforming Time-to-Action

We believe it is imperative that a point-of-need solution is operable by the widest possible user base. We have an industry-leading software automation and machine learning team that has applied advanced techniques to both control the hardware in our devices and interpret the incredibly rich and complex data streaming off of them. Recently, our team applied its deep expertise in data analytics, machine learning, and optical spectroscopy to develop a proprietary modeling approach to power the MAVERICK® desktop device. Introduced in 2023, MAVERICK offers bioprocess scientists easy-to-integratein-line monitoring and control of critical process parameters without the need for substantial expert configuration or setup.

The answers that our devices enable immediately maximize value to the customer in life-altering applications where minutes matter. As we continue to expand the capabilities of our technology platform, we believe our devices will continue to penetrate new and adjacent opportunities in life sciences, quality assurance and control, diagnostics, and other applied markets.

Addressing Critical Needs in Forensics

Historically, forensic labs have used conventional Mass Spec instruments to chemically analyze a diverse array of submitted samples, and those without access to Mass Spec have relied on other techniques with severe limitations in terms of specificity and sensitivity. In the field forensics setting, high accuracy and fidelity can be just as important at the point-of-need as it is in the laboratory. We are changing the paradigm for forensics customers by providing laboratory-like results at the point-of-need with our handheld devices.

Testing for controlled substances is one of the major drivers for the use of Mass Spec in the field forensics setting. Front-line workers rely upon our handheld devices to detect counterfeit pharmaceuticals and illicit materials in the air or on surfaces at levels 1,000 times below their lethal dose. In addition to controlled substances, point-of-need Mass Spec instruments can address a wide variety of other use cases, including:

Hazardous materials identification for first responders and local, state, and federal law enforcement agencies

Chemical warfare agents and explosives detection for U.S. and international defense and homeland security

Forensic laboratories' case management and triage

Package inspection for postal services, couriers, customs agencies, and corporate mail rooms

Facility safety for hotels, local, state, and federal government facilities, and private enterprises