Letter from the Executive
Chairman of the Board, the CEO
& the Chief Compliance Officer

November 2012

To All Directors, Officers and Employees:

As we continue to grow as a global biopharmaceutical company, Emergent BioSolutions Inc. (together with its subsidiaries, “Emergent”) remains dedicated to its one simple mission - to protect life. Another thing that has not changed since our company’s founding is our unwavering commitment to operating our business with honesty and integrity.

This commitment allows us to maintain a creative, productive and positive work environment while conducting our business and affairs in accordance with all applicable laws that govern the conduct of our businesses worldwide, including regulations for contractors conducting business with the U.S. government. Emergent believes that this commitment is a critical asset that builds trust with our customers, employees, vendors, shareholders and the communities in which Emergent operates.

Emergent requires that all directors, officers and employees comply with the laws, rules and regulations applicable to the company wherever it does business, as well as all company policies and procedures. To reinforce the company's commitment to honesty and integrity, Emergent has adopted this Code of Conduct and Business Ethics (the "Code") to assist you in understanding your ethical responsibilities. The Code does not cover every situation you may encounter during your professional career. However, it does outline the basic principles and standards expected of you, and describes the resources available to assist you.

Please join us in continuing to uphold Emergent’s commitment to ethical business conduct. Doing so will help Emergent continue to prosper and remain a great place to work.

Best regards,

Fuad El-Hibri
Executive Chairman of the Board of Directors

Daniel Abdun-Nabi
President & Chief Executive Officer

Jay Reilly
General Counsel and Chief Compliance Officer