Investor Information

March 20, 2020

To the Customers of Taylor Devices:

Due to the ongoing dynamics of the situation with respect to the Coronavirus, I feel that it is necessary to update our customers yet again. As of today, there has been a significant development for us, so I want to convey our current status.

The Governor of New York State, Andrew Cuomo, today updated his Executive Order mandating that 100% of their workforce stay home, with certain exceptions.

Before explaining how that impacts us, please allow me to clearly state that we continue to monitor and adhere to the advice of the appropriate public health agencies. Our Executive Management team is in continuous communication with each other and we are reacting accordingly to minimize any possible impacts that this situation may cause in satisfying all our customer’s needs.

We continue to follow the Center for Disease Control (CDC), Occupational Health and Safety Administration (OSHA) and the Niagara County Health Department for news and advice on steps that should be followed. We are following the recommendations of those agencies.

Because Taylor Devices provides products and services for defense and national security-related operations supporting the U.S. Government and is a contractor to the US government, we are continuing our operations on a limited basis to support our requirements. This allows us to maintain at least a minimal workforce, including some office staff and some personnel who are supporting manufacturing, assembly, and testing operations.

We have taken substantial measures to allow certain other employees to work from home if their job function allows. Therefore, we are fortunate to be in a position that allows us to maintain many functional aspects of our Company while still practicing cautious measures to inhibit the spread of the Coronavirus.