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A note from Al Sisto, Chief Executive, Tern PLC

With most countries now working flat out to bring the community transmission of coronavirus under control, this is now affecting all of us in our personal as well as professional lives. As a firm, we are taking every rational precaution to minimize potential harms to our colleagues, advisors, suppliers, friends and family, and to contribute our effort to a society-wide resistance to the pandemic as best we can and we have shifted to remote working and virtual meetings.

The virus has brought with it a dramatically uncertain economic outlook. We are counselling our portfolio leaders to review their operating plans for the year, in the context of a much more challenging business environment. We are helping our companies to re-assess their operations and develop contingency plans to cover the wide range of possible future states of the world. We have been, and will continue to operate successfully this way until the virus threat has receded.