Brexit Statement

Following the decision made by the United Kingdom to leave the European Union in 2017, EA Technology has taken a number of steps to minimise the impact of Brexit. We have put plans in place to minimise disruption for the company and our customers as the transition away from EU membership takes place. Whilst precise challenges are still unknown our ongoing planning means that we are confident that the effects of Brexit will not affect our ability to supply our customers.

The transition period ends on the 31^st December 2020 and the UK Government have confirmed that there will be no extension to this. If no deal is agreed by the end of 2020, from 1^st January 2021, the UK and EU will revert to trading on WTO rules and the UK will be a third-party country to the EU i.e. any goods arriving from the EU or leaving for the EU will be subject to the normal customs processes already in place for our other international third-party trading partners.

EA Technology’s response to the situation

We continue to monitor the situation closely and have prepared to minimise the impact of these circumstances, ensuring that we can continue to offer a reliable supply of our products and services after 31^st December 2020.

The key actions that we have taken and are continually reviewing are:

• We have completed an audit of employees to assess the potential impact of Brexit on European Union employees in the UK and communicating the retention of their right to live and work in the UK
• We have reviewed the levels of stock required to meet short term customer demand
• We are in close liaison with our suppliers to minimise the impact of Brexit
• We are in contact with freight forwarders to ensure that we can mitigate the risk of customs delays
• We are reviewing any changes required in paperwork for export and duty costs, and recognise that additional administration effort may be required initially
• We are encouraging our customers to review their requirements and ensure orders are placed ahead of normal timing to protect against delays
• We are reviewing our terms and conditions of business to ensure that they remain appropriate after December 2020
• We are considering the general principles of data movement to ensure that we are compliant
• We are considering the financial impact of Brexit, including increased duty and tariffs, increased cost of freight and customs administration and are looking at ways to mitigate this to ensure minimal impact on our customers
• We are also monitoring any European Union travel issues for our employees during and after Brexit, including insurance arrangements

We continue to monitor the UK government advice closely and change our approaches where advised. We will be happy to speak to you regarding any queries you may have regarding this statement.