Ann: Market update, page-18

Yeah nothing to do with management here.

We have had a perfect storm here which initially began with the 2020 COVID shutdowns, causing an initial halt to demand in 2020, but in parallel created a large spike in semiconductors requirements for household goods over the past year. All this has created the supply/demand imbalance which unfortunately cannot be switched off and turned back on with ease for car manufacturers and many other industries.

This issue is being felt in many industries and car manufacturers simply lost their position in the cue when they declined deliveries last year. Its tough, but along with containers, shipping etc. the supply chain impact will normalise soon.

Management has done a great job in my view and there is significant pull from an increased pipeline of customers. This is a glitch and dare I say it - an opportunity.