Over the past year, the global supply chain has experienced unprecedented delays along with significant increases in raw material cost, shortages in raw material availability, increased labor costs (on the supply chain level) and logistic costs. In addition, Company labor costs, G&A, and indirect Overhead have all increased significantly in recent years. Piezo-Metrícs has deferred any standard product once increase for almost ten (1O) years. However, due to the alignment of these occurrences accumulating over time, we are compelled to reassess our pricing across all our product lines.

The new pricing schedule will take effect on Monday, January 3, 2022 (the Effective Date). AII quotations issued prior to the Effective Date will be honored through the stated validation period, and orders received before the Effective Date will be honored at the current pricing. Any quotations issued on or after the Effective Date, and orders received on or after the Effective Date, will be processed according to the new pricing schedule.

As always, we are working hard to maintain product availability and competitive pricing so that you can continue to grow your business We have also been investing in improving corporate processes, efficiencies and quality control and expect to be both ISO 9001 and ISO 13485 conformant by early 2022.

We wish you a happy and healthy holiday and a prosperous New Year, and we thank you for your business.