Beakbane Ltd Brexit Statement

The decision made by the UK to leave the European Union, or ‘Brexit’ as it has become known, means that we must embrace the challenges that this decision will bring. Inevitably there is still a great deal of uncertainty as the Brexit negotiations take place and therefore our plans have to be both flexible and continually evolving. We recognise that as Brexit unfolds there will be a degree of concern from our customers and any none UK based supply chain partners. Equally, within our own organisation from various departments. In order to ensure that our business is sustainable, and to mitigate any potential risks that may arise during the Brexit process we have put into effect a number of strategies which will ensure the strongest possible outcome for our company as the transition away from EU membership takes place. This update statement is provided to give information to our customers and supply chain partners on our preparations.

Brexit focus areas

During our initial assessment of the impacts of Brexit, we have identified a number of key areas of focus for a potential Brexit impact, including:

• Customer service and supply chain
• Financial performance, including the impacts of tariffs
• Cash and financing
• Employees and mobility
• Regulatory frameworks and compliance
• Innovation

We have undertaken a review of our supply chain for components and raw materials to mitigate the impact of any major changes following Brexit and explored possible changes needed to our policies and processes. Steps have been taken to minimize any potential risks concerning EU citizenship of any members of our staff. As a company we are well versed with the demands of international trade, we have every confidence in the skill and expertise of our administrative staff and their understanding of export procedures to be able to cope with any changes necessitated following Brexit. Furthermore, we widely employ the services of freight forwarders and agents who have international status. Together we will be able to adapt swiftly to any changes necessitated by Brexit.

Summary

Whilst we recognize that there remains significant uncertainty around the eventual political and legal Brexit outcome, based on our understanding today we do not believe that Brexit will generate unmanageable risks for our business. We would like to reassure our customers and suppliers of our on-going commitment to continued trade, both within the EU and our other export markets.

Thank you