On April 15, 2021, Thermo Fisher Scientific Inc. (“Thermo Fisher”) and PPD, Inc. (“Powder”) issued a joint press release announcing the execution of an Agreement and Plan of Merger by and among Thermo Fisher, Powder and Powder Acquisition Corp., a wholly owned subsidiary of Thermo Fisher (“Merger Sub”), pursuant to which, upon the terms and subject to the conditions thereof, Merger Sub will merge with and into Powder, with Powder continuing as the surviving corporation and a wholly owned subsidiary of Thermo Fisher. A copy of the joint press release is attached as Exhibit 99.1 hereto and is incorporated herein by reference.

This communication contains forward-looking statements that involve a number of risks and uncertainties. Words such as “believes,” “anticipates,” “plans,” “expects,” “seeks,” “estimates,” and similar expressions are intended to identify forward-looking statements, but other statements that are not historical facts may also be deemed to be forward-looking statements. Important factors that could cause actual results to differ materially from those indicated by forward-looking statements include risks and uncertainties relating to: the duration and severity of the COVID-19 pandemic; the need to develop new products and adapt to significant technological change; implementation of strategies for improving growth; general economic conditions and related uncertainties; dependence on customers’ capital spending policies and government funding policies; the effect of economic and political conditions and exchange rate fluctuations on international operations; use and protection of intellectual property; the effect of changes in governmental regulations; and the effect of laws and regulations governing government contracts, as well as the possibility that expected benefits related to recent or pending acquisitions, including the proposed acquisition, may not materialize as expected; the proposed acquisition not being timely completed, if completed at all; regulatory approvals required for the transaction not being timely obtained, if obtained at all, or being obtained subject to conditions; prior to the completion of the transaction, Powder’s business experiencing disruptions due to transaction-related uncertainty or other factors making it more difficult to maintain relationships with employees, customers, other business partners or governmental entities; difficulty retaining key employees; the outcome of any legal proceedings related to the proposed acquisition; and the parties being unable to successfully implement integration strategies or to achieve expected synergies and operating efficiencies within the expected time-frames or at all. Additional important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are set forth in Thermo Fisher’s Annual Report on Form 10-K for the year ended December 31, 2020, which is on file with the U.S. Securities and Exchange Commission (“SEC”) and available in the “Investors” section of Thermo Fisher’s website, ir.thermofisher.com, under the heading “SEC Filings,” and in any subsequent Quarterly Reports on Form 10-Q and other documents Thermo Fisher files with the SEC, and in Powder’s Annual Report on Form 10-K for the year ended December 31, 2020, which is on file with the SEC and available in the “Investors” section of Powder’s website, investors.ppd.com, under the heading “SEC Filings,” and its subsequent Quarterly Reports on Form 10-Q and in other documents Powder files with the SEC. While Thermo Fisher or Powder may elect to update forward-looking statements at some point in the future, Thermo Fisher and Powder specifically disclaim any obligation to do so, even if estimates change and, therefore, you should not rely on these forward-looking statements as representing either Thermo Fisher’s or Powder’s views as of any date subsequent to today.