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Brexit and Peak Scientific

Brexit - Statement of Readiness

Since the United Kingdom (UK) referendum result on membership of the European Union (EU) in June 2016, Peak Scientific has been working to assess and mitigate the likely impacts of ‘Brexit’ on our customers and suppliers under a variety of potential outcomes. Given the continued uncertainty around the final terms of Brexit, even as we commence 2019, we have put in place contingencies over the last few months such that we are prepared and ready no matter the outcome.

As ever, our chief priority at Peak Scientific is to ensure seamless continuity of supply and service to each and every one of our customers across the globe, regardless of outcomes and potential short-term effects on customs and international logistics. While we continue to hope that a business-friendly deal can be reached, we are reasonably certain that our ability to do business with our global customer base will not be materially affected to any significant degree, even under the harshest exit.

This communication is intended to give our customers, distribution and supply chain partners reassurance and confidence that we are ready to maintain ‘business as usual’ through any transition period after March 29th 2019.

Brexit mitigation planning

In our initial risk assessments over 2018 (which we continue to update), we have identified a number of key areas of focus for a potential Brexit impact, including:

• Product delivery lead times
• Customer service and scheduled maintenance provision
• Financial performance, including the potential impact of tariffs
• Employees and mobility
• Regulatory frameworks and compliance

Here at Peak Scientific we have full confidence in the skill and expertise of our administrative and logistical teams and their understanding of export procedures to be able to cope with and adapt swiftly to any changes necessitated by Brexit. Our established Brexit project group has fully assessed each area and likely impacts have been evaluated.

Furthermore, we maintain close partnerships with a network of leading freight forwarders and agents who have international status. Together we are ready and prepared to adapt and respond to any potential added complexities – short term or long term – that may arise from Brexit in the event of tariffs being introduced on trade between the UK and EU.

Maintaining excellence in delivery

By maintaining buffer stocks at key locations in North America, continental Europe (EU) and in Asia, we are confident in being ready to maintain ‘business as usual’ delivery in terms of lead times on new gas generator products and in our ability to rapidly support existing end user customers with on-site maintenance support. Our standard lead time of 4 weeks will continue to be assured for the majority of our products. Please note some infrequent and custom-specified products may require additional lead times (6 weeks) as is currently the case.

As part of mitigation plans, in reviewing planned annual maintenance schedules globally, we may in some instances elect to ship service kits directly to end customer sites ahead of schedule, where their equipment service is due in the initial 2-4 week period after March 29th. This is to ensure there is no delay in performing scheduled maintenance at customer sites where material would ordinarily be shipped from UK close to the service date.

Peak Scientific remains confident in our ability to deliver exceptional service and support for all of our customers around the world in line with our commitment as Your Local Gas Generation Partner of choice.

Background

We are a global business headquartered in the UK, where all manufacturing is based. <10% of our sales are made to UK customers, with the majority of our customers located in North America, India, China and mainland Europe but also serving customers in SEA, Japan, Oceania and Latin America. With 500 employees, 220 of which are based in the UK (among which a number are EU nationals).

Peak Scientific operates offices and warehouse capacity outside the UK including substantial facilities in North America and Asia. We have planned contingencies to hold surplus stock at some of these sites, ready to ship globally in the event of any short-term logistical delays exporting from the United Kingdom.

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