Governance and Ethics
Anti-corruption
Policies and Commitments
Teledyne Technologies Incorporated and its affiliates (“Teledyne”) maintain a zero-tolerance policy for corruption in all forms—including bribery, kickbacks, facilitation payments, and extortion—whether involving government officials or private parties, and whether occurring inside or outside the United States.
This commitment is formalized in the Global Code of Ethical Business Conduct, which applies to all employees, members of the Board of Directors, and third parties acting on Teledyne’s behalf.
The Code is built on four core values—Integrity, Respect, Responsibility, and Citizenship— which guide all business decisions across the organization. Teledyne’s products are offered to both government and commercial customers and are selected based on objective criteria such as quality, functionality, operability, and price; the company does not seek any improper influence in the conduct of its business and expects equivalent ethical standards from its business partners.
Flir Systems AB, a Swedish subsidiary of Teledyne Technologies headquartered in Täby, with approximately 500 of Teledyne’s 14,500 employees and consultants based at the site, applies these group-level policies locally. The company also requires suppliers and service providers to adhere to Teledyne’s Code of Conduct for Service Providers, which demands strict compliance with all applicable laws and regulations, prohibits any form of corruption in any jurisdiction, and covers matters including anti-bribery, fair labor, environmental responsibility, and cybersecurity.
Anti-corruption
Governance, Oversight & Legal Compliance
Accountability for anti-corruption starts at Teledyne’s highest governance levels. The Board of Directors and its Audit Committee jointly oversee the company’s major financial, operational, and compliance risks. The Audit Committee meets periodically with management to discuss risk exposures and the steps, guidelines, and policies implemented for risk assessment and management; matters of strategic risk are considered by the Board as a whole.
At each regularly scheduled Audit Committee meeting, the Vice President, Business Risk Assurance reports directly on the activities of the internal audit function. Management also reports to the Audit Committee on legal, finance, accounting, and compliance matters at least quarterly, with additional periodic reporting on tax, pension, information technology, and cybersecurity risks. The Audit Committee reviews the company’s disclosed “risk factors” prior to filing of the Annual Report on Form 10-K.
Teledyne maintains an Enterprise Risk Management (ERM) Committee, consisting of executive officers and other employees, which identifies significant company risks—including those related to business conduct and corruption—and evaluates the adequacy of existing risk management policies, practices, and procedures. The Senior Vice President and Treasurer periodically reports to the Audit Committee and the Board on the committee’s progress and results.
As a U.S.-headquartered company, Teledyne complies with the U.S. Foreign Corrupt Practices Act (FCPA), the UK Bribery Act as well as other local anti-corruption laws and statutes (together, “Anti-Corruption Laws”). Compliance with these laws is mandatory for employees and required of business partners engaged by the company. No Teledyne employee or representative will suffer adverse consequences for refusing to pay or receive bribes or engage in other forms of corruption, even if such refusal results in lost business.
Key global anti-corruption policies include:
- Global Code of Ethical Business Conduct
- Anti-Corruption Statement
- Gifts, Entertainment and Hospitality Policy
- International Third-Party Engagement Policy
- Travel and Hosting Guidelines Policy
Training, Awareness & Ethical Culture
Risk Management, Internal Controls & Due Diligence
Teledyne’s anti-corruption program comprises the core elements of an effective compliance program: tone at the top, risk assessment, written policies and procedures, effective training and education, effective lines of communication, internal monitoring and auditing, and enforcement. These requirements apply to all Teledyne employees and to third parties acting on Teledyne’s behalf.
A risk-based due diligence process is applied when engaging third parties, particularly in higher-risk transactions or geographies. Teledyne undertakes a review of its partners to determine whether such partner can properly represent Teledyne in accordance with its standards and requirements; this involves a diligence review in advance of any business relationship and periodic diligence updates throughout the term of the relationship.
At the Flir Systems AB level, all suppliers are reviewed systematically before embarking on any business relationship and must sign and comply with Teledyne’s Code of Conduct for Service Providers—based on the Fair Labor Association Workplace Code of Conduct and the Electronic Industry Citizenship Coalition Code of Conduct—before collaboration begins.
Training, Awareness & Ethical Culture
Mandatory training on business ethics and anti-corruption is provided to all employees, with refresher training conducted periodically. Training content covers the Global Code of Ethical Business Conduct, anti-corruption obligations, identification of corruption risks, and the proper use of reporting channels.
During 2026, Teledyne continues to:
- Monitor training participation through its learning management system
- Provide onboarding ethics training for all new hires
- Use training completion as a key compliance indicator within its internal control framework
Key Anti-Corruption Indicators
Speak-up Mechanisms & Case Handling
Teledyne provides confidential whistleblowing channels accessible to both employees and external stakeholders.
Any employee or third-party doing business for or with Teledyne may report any ethical concern or suspected misconduct through:
Online portal: www.teledyne.ethicspoint.com (available in Swedish and other languages)
Ethics Hotline (toll-free): (877) 666-6968
Local phone number for Sweden: 020-089 00 96
Reports may be submitted anonymously where legally permitted. All reports are handled confidentially and investigated in accordance with established procedures. Teledyne strictly prohibits retaliation against individuals who raise concerns in good faith.
Flir Systems AB complies with the Swedish transposition of Directive (EU) 2019/1937 on the protection of persons who report breaches of Union law.