STAYING CONNECTED - LOUISIANA CAT EMPLOYEE NEWSLETTER

Dear Friends & Family of Louisiana Cat,

I first want to reiterate what our goals are during this situation:
1. Keep our team healthy and safe
2. Support our customers
3. Keep Louisiana Cat strong

As this week comes to an end, I want to update each of you on the current state of the COVID-19 spread, healthcare response, economic response, and Louisiana Cat.

COVID-19 Spread in Louisiana:
As of noon on April 10th, our most recent reports show 19,253 cases reported, 63 out of 64 parishes affected, with 755 deaths reported. This number continues to increase every day. With tests becoming more available, we will likely see this number rise substantially before we level out and notice a slow-down. Please continue to practice social distancing, good hygiene, and do not come to work if you are sick or have been exposed to someone who has fallen ill.

Healthcare Response:
The United States healthcare system is doing everything they can to increase the number of tests, process tests faster, increase the number of beds/ventilators, and develop medications. Currently, there are a few medications in the rapid test phase at the moment. However, there is currently no indication that a vaccine or verified treatment plan will be released any time soon. Therefore, I want to reiterate how important it is for us to do our part to slow down the spread so that our officials and hospitals can get on top of this outbreak.

Economic Response:
The current economic response has been drastic in many industries. The stock market has plummeted roughly 30% from its previous record high. We are closely monitoring the response in our industry. As you know, Governor Edwards announced that all “non-essential” businesses be shut down until further notice. Given that we fall into a Critical Infrastructure Industry as defined by the Department of Homeland Security, the majority of our workforce continues to work normal schedules. Currently, as a company, we have less than 15% of our workforce working remotely or from home. With that said, we will continue to monitor the situation and provide regular updates. However, the impact on our customers will be the major indicator of the impact on Louisiana Cat. As the situation progresses, we will continue to do everything in our power to take care of our people first.

Louisiana Cat:
As of today, we have 0 confirmed cases of COVID-19. We are monitoring a few individuals who are ill but do not have a serious concern at this time. We have seen some reduction in business activity over the past week as a result of the virus. Unfortunately, some of our customers have indicated they will be reducing their spending and planned projects with Louisiana Cat in 2020. As for the majority, they believe that when the ground dries up and the virus subsides, they will be back to work at full-speed. We are hopeful that this is the case, but any governmental restrictions could keep that from happening. The leadership team is receiving updates as they are provided by officials and will work to keep you abreast of the situation as it progresses. For now, we will continue to work to serve our customers and find innovative ways to keep them running while maintaining all necessary precautions to prevent the spread of this virus. We ask that you please respect your customers and fellow employees' desire to maintain social distancing.

We have received a lot of questions that at this time, we are unable to answer. It is not because we do not want to answer but we simply do not know the answer yet. The severity of this outbreak is still unknown at the current moment. What we do know is all precautions suggested should be taken and we intend to do that. However, we are yet to understand the true economic impact it will create in the future. As a leadership team, we will be communicating everything we know as it becomes available to us. Thank you for your hard work and dedication to this company. Again, our number 1 goal is to keep you healthy and safe during this time. 

Time to Rally:
To those team members working remotely, we ask you to rise to the occasion as you have throughout this national crisis – to be patient and dedicated - now that this abnormal situation calls for abnormal efforts. If you need resources or have questions, we are here to help.

To those team members in the field and the office, we thank you for carrying out the Louisiana Cat mission and vision proudly while keeping our State and fellow customers running in these uncertain times.

Please join me in praying for our government, all the hard-working people and families affected during this time. Please take care of yourself and your loved ones. May this holiday fill your hearts with new hope and faith. I'll be thinking about you and, as always, am available if you have questions or concerns.