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Hi Jim, Thanks again for meeting yesterday. As discussed, UTAK proposes a 5% year-over-year increase under a two-year agreement starting January 2026. This would maintain stability while accounting for modest cost adjustments. We remain fully open to discussion and are happy to adjust based on Siemens’s volume expectations or other contractual priorities. Appreciate you sharing our portfolio with your R&D team we’re glad to explore any future technical opportunities together. Siemens & UTAK: Renewal of Pricing Agreement Pt. IV - October 07 VIEW RECORDING - 15 mins (No highlights) Meeting Purpose Discuss renewal of pricing agreement between Siemens and UTAK Laboratories for FY26 and beyond. Key Takeaways • UTAK proposed a 5% year-over-year increase for a two-year contract starting FY26 • Siemens open to counterproposals, including potential tier pricing based on volume increases • Both parties confident in reaching a mutually beneficial agreement • Siemens R&D team reviewing UTAK's product portfolio for potential opportunities Topics Pricing Proposal and Contract Amendment • UTAK suggested 5% year-over-year increase for a two-year period starting FY26 • Jim (Siemens) open to counterproposals, including tier pricing based on volume increases • Agreement could be 1-3 years, depending on negotiations • Siemens may have a reverse proposal to consider Proposal Submission Process • Raleigh (UTAK) to send updated pricing structure via email • Jim prefers a simple quotation format for FY26 and beyond • Current agreement to remain in place; amendment will address FY26 changes • Both parties aim to keep the process straightforward, given the spend isn't in "$45 million" range UTAK Product Portfolio Review • Jim forwarded UTAK's portfolio to Siemens' R&D team for evaluation • Specific interest in blood controls and other control products • Siemens considering potential opportunities in 3-5 year timeframe • Technical experts may join future calls if needed for in-depth discussions Global Manufacturing Considerations • UTAK currently manufactures strictly in California, USA • Siemens expressed interest in potential global manufacturing locations • Benefits of global presence: reduced logistics/customs costs, faster delivery to international customers • UTAK aware of the need and considering expansion in the "not-too-distant future" Next Steps • Raleigh to send updated pricing proposal via email within 1-2 days • Jim to review UTAK's proposal and potentially prepare a counterproposal • Schedule follow-up call in two weeks (around October 21, 2025) to discuss proposals • Continue discussions on terms and conditions changes over the next 12 months if needed • UTAK to keep Siemens updated on any plans for global manufacturing expansion Action Items • Review UTAK's proposal upon receipt. Prepare potential counterproposal/amendments if needed. - WATCH (5 secs) • Email Jim proposal w/ 5% YoY increase for 2yr contract, starting Jan. Include updated pricing structure. - WATCH (5 secs) • Email Jim summary of call discussion, reaffirming key points covered. - WATCH (5 secs) Best, Raleigh Raleigh Gallina utak.com Book a Meeting With Me – 25020 Avenue Tibbitts Valencia, CA 91355 – D +1.661.567.0671 P +1.888.UTAK.LAB F +1.661.567.0671 From: Raleigh Gallina Sent: Tuesday, September 30, 2025 3:09 PM To: PIACENTINI, Jim <james.piacentini@siemens-healthineers.com> Subject: Siemens & UTAK - Next Steps Hi Jim, It’s always great chatting with you. This partnership is exactly the type of collaboration UTAK strives for - open dialogue coupled with a true win-win mentality on both sides. We’re already getting to work to see what we can do on pricing for the upcoming 2026 year. In the meantime, I wanted to share our product catalogue with you to see if there might be potential alignment with the new project you have in the pipeline. Looking forward to continuing the conversation and exploring opportunities together. Enjoy Cape Cod! Best regards, Raleigh Raleigh Gallina utak.com Book a Meeting With Me – 25020 Avenue Tibbitts Valencia, CA 91355 – D +1.661.567.0671 P +1.888.UTAK.LAB F +1.661.567.0671