COVID-19 Impact Towards Different Industries

COVID-19 Industry Market
Overviews
21 April 2020
COVID-19 Industry Market Overviews
The COVID-19 outbreak has become one of the biggest threats to the globe and has pushed humanity to uncharted territory.
The outbreak has formed looming clouds of uncertainty and disrupted economic activities across the globe. Drastic measures
taken by governments to combat the spread of the virus are in the process of delivering a global recession. As such, the
disease is much more than a health crisis, and has the potential to create devastating social, economic and political crises that
will leave deep scars. The spread of the disease is impacting all industries from various directions. Considering that economies
will have to bear demand as well as supply side shocks, the repercussions on individual economies would depend on the
initiatives and programmes of the respective governments.
Beside We have
the more therefore
visible disruption ofapplied the
production, Now,
supply chainNext & Beyond
and customer uncertainty, there are risks and challenges in
relation to crisis management and people. Even after COVID-19 gets under control, companies will face a financial, regulatory
framework, and the Enterprise Resiliency Framework to
and legal aftermath which is not yet foreseeable.
our content.
Sri Lanka is no exception to the COVID-19 crisis. Whilst having its own repercussions, the slowdown in our key export markets
would also have significant impact on the Sri Lanka economy. However, each day we are gaining a greater understanding of the
impacts, as we talk with businesses in Sri Lanka and across the world about the issues they face, and their concerns for the
future. These industry market overviews highlight the latest market intelligence EY has received, our view on the cross-sector
impacts of the crisis, and the potential actions organizations can take to navigate these uncertain times.
To discuss any of the insights in this document, or how EY can help, please contact me on 011 557 8603 or by writing to
Arjuna.Herath@lk.ey.com.
Arjuna Herath
Partner, Advisory Leader, EY (Sri Lanka & Maldives)
Contents
Page
1 Cross-sector Trends 04
2 Coping with COVID-19 06
3 Advanced Manufacturing & Mobility 10
4 Consumer 14
5 Energy & Resources: Power & Utilities 18
6 Financial Services 22
7 Government & Public Sector 26
8 Real Estate, Hospitality & Construction 30
9 Health Sciences & Wellness 34
10 Private Equity 38
11 Technology, Media & Entertainment, Telecom 42
Page 3 21 April 2020 COVID-19 industry markets overview

Cross-sector Trends
GDP growth • Global GDP will take a significant hit from COVID-19 is expected to grow only by 1.5% in 2020. Ramp-up of production in Asian economies will support local
demand recovery while most of their export markets are still affected by COVID-19-related shutdowns and consumer uncertainty.
• GDP growth rate in Sri Lanka in 2020 is expected to decline to a rate between 0.5% to 1.5% with Apparel, Tourism and Hospitality, and Transport sectors
significantly affected.
Global trade • Global trade is the essential backbone of the world economy. It has already been in a state of crisis before COVID-19 as tariff tensions, protectionism and
sanctions disrupted established business models. COVID-19 is adding additional challenges from disrupted trade routes, capacity bottlenecks and trade finance
environment.
Oil price and demand • The oil price is estimated to remain depressed after global GDP and demand recovery, helping various industries to recover from the pandemic.
• According to the latest Oxford Economics forecasts, the oil price is expected to stay below 2019 levels for the near future.
Increasing financial • The shutdown of operations and cutback in consumption is draining liquidity reserves of companies while financing conditions might become more challenging
and liquidity with increased credit risks and defaults.
concerns
Increasing risk of • The risk of credit defaults is increasing with time and will hit SMEs as well as larger corporates. This will impact the ability to ramp up production after the crisis
defaults and could have a knock-on effect along supply chains. Financial constraints will also impede investments, e.g., in technology, to prepare for future events.
Rise of private • At a global level the slowdown in syndicated lending will accelerate trends that began during the Global Financial Crisis, which gave rise to the private credit
credits industry. Private credit firms will become increasingly active in financing larger deals (US$1b–US$3b) that only a few years ago would have been syndicated by
traditional banks. They’ll also be active buyers of existing public debt, in some instances putting an effective floor on the market. They’re part of a larger shift
in capital formation from public sources of finance to private. Over the near term, Private Equity funds will be active as acquirors of minority stakes in public
companies (PIPEs) because of the relative transparency and ease of execution. Take-private transactions could also see an increase, as volatility in the public
markets outpaces declines in valuations in the private markets.

Cross-sector Trends
Drivers of change creating new ecosystems

Virtualization of customer Consumers see the benefit of virtual and online service offerings and are likely to want to keep it after the pandemic. In combination with changing social
interactions values, this can have a long-term impact on established business models and ecosystems.
Reputation and trust Companies have an increased focus on their reputation and are offering services for free, support their neighborhood or repurpose their production
capacities for required goods. Reputation is also influencing investment decisions during the downturn.
Sharing resources Companies are adapting their supply chain and ecosystem to the new challenges, creating new collaborations, alliances and asset-sharing business models
that are blurring the boundaries of established industries.
Fluid workforce The changes to working styles can lead to the transformation of established working models in the long term. A fluid workforce will also be a push for the
gig economy.
Onshoring of functions and In many cases, offshored Shared Service Centers were significantly affected by COVID-19, and companies start to re-assess their offshored functions and
assets identify functions for onshoring.
Supply chain Companies re-assess their supply chain strategies and identify measures to strengthen local/regional supply chains and to reduce assets.
repurposing/adjusting
Infrastructure will become Logistics are a likely bottleneck impacting global supply chains. While ports have only a limited capacity, land transport might be hampered by closed
a bottleneck borders or additional safety measures.
Digitalization is picking up The pandemic shows the weaknesses of today’s systems, particularly with regard to flexibility, visibility, paperless processes and forecasting capabilities.
speed
Regulators are becoming Regulators became more flexible, adjusting regulation to face new challenges. This momentum will help companies to develop new products and services
more flexible much faster.

Coping with COVID-19
Understanding what matters Now, Next and Beyond in a time of uncertainty and complexity
Now Next Beyond
Now Next Beyond

*Immediate to three months. *3-6 months *6 months plus
Responding to the crisis as Managing a restricted business, leading through ongoing business Understanding the “new normal” that
companies focus on business disruption and responding to medium term challenges and opportunities, will emerge beyond the crisis and
continuity and crisis planning. reframing your future to align with it.
largely from disruptions in your sector.
Continue Adapt Operations Increase Resilience Reframe

► Secure CFO ► Fix Supply Chain COO ► Achieve lower and more agile cost base CEO, CFO
► Accelerate virtual - Connectivity
Financial Stability
Key Actions
► Re-start production COO ► Increase workforce flexibility HR ► Heighten response to health,

► Continue CEO, COO ► Ensure Customer ► Optimize Supply Chain – mitigate geo-risk, sustainability and environment - Clean
CEO, CSO
Operations Access create buffers, enhance agility
COO
► Reframe relationships - Community
► Protect ► Reduce Cost short term C-Suite ► Maximize digital customer access CIO, CSO ► Re-think new business solutions -
CEO, HR
Employees Creativity
► Streamline Structures, C-Suite
► Enhance digitization, automation, back up
CIO, COO
Portfolio, Footprint with cyber security ► Apply new balance to decision making -
Conscientious
z
Long Term Value
Consumer – reputation, demand fulfilment, trust, innovative offerings, brand loyalty

Managing
Human – wellbeing, retention, diversity, culture, development

Societal – economic, social and environmental impact, including job protection / creation, tax contributions, climate, health and infrastructure building
Financial – market share, revenue, margin improvement, cost optimization, optimal capital structure and allocation
* Indicative timelines only. Timelines could vary depending on how the pandemic is contained in the country.
COVID-19 - Developing a response through EY’s Long-Term Value Framework
EY view
For some companies, solvency and survival is all that matters now.
For others, less directly affected at this time, difficult business
decisions lie ahead.
We believe businesses that consider the impact of their decisions

for a broad set of stakeholders will come out stronger in the long-
A stakeholder-focused approach run. Business leaders are likely to have to make choices about how
Now can help businesses to navigate the crisis in a way that best protects their long-term
value and there will likely be a spotlight on their organization’s
protect long-term value behaviour now more than ever.
The EY Long-Term Value Framework provides companies with a

framework to develop a purposeful, stakeholder-led response to
COVID-19 that focuses on stakeholder outcomes - Now in their
immediate response, Next as they build business resilience, and
Beyond as they reframe their future.

Taking a stakeholder-focused approach now can help to protect long-term value
Enterprise Resilience Framework

EY teams believe taking a stakeholder-focused approach to building business resilience can
help businesses protect their long-term value. The EY Enterprise Resilience Framework helps Nine areas of impact across the enterprise
business leaders build resiliency as they respond to the impact of COVID-19 on their business
and stakeholders. Supply chain Employee
and global health and
trade well-being
Stakeholder-focus to protect value: Insurance

and Talent and
financial workforce
recovery
Human Now: During its immediate response.

Consumer Leadership and
Customer
Next: As the company builds a resilient enterprise. Technology
and communication safety and
Financial information
security
brand
protection
Societal
Beyond: As companies reframe the future.
Government
Financial and
and public
investor
policy
Risk

Three steps to take a stakeholder-focused approach
The EY Long-Term Value Framework provides business leaders a framework to develop a purposeful, stakeholder-focused response to
COVID-19 that protects Long-Term Value by optimizing stakeholder outcomes at each stage of the crisis.
Assess stakeholder impact

Supply chain Employee
a. Identify material stakeholders – those impacted by your business and global health and
strategy and activities trade well-being
b. Define and prioritize stakeholder outcomes - consistent with the

company’s purpose Insurance
Talent and
and
workforce Protect
financial
recovery
long-term
value
Focus on protecting stakeholder value

Leadership and Bring alive
a. Prioritize key value drivers and their underlying capabilities Technology Customer
purpose
b. Build resilience across the strategic capabilities required to deliver and communication safety and
information brand
stakeholder outcomes security protection
c. Use prioritized stakeholder outcomes to guide decision-making Adapt to the
new normal
Government
Financial and Create legacy
Proactively communicate and public
policy
investor
a. Proactively communicate a resilience strategy to protect value for Risk

all stakeholders identified
b. Measure and communicate progress

Advanced Manufacturing & Mobility
COVID-19 Enterprise Resiliency Framework: Now, Next and Beyond
The COVID-19 impacts on the advanced manufacturing and mobility industries are unprecedented. From end-user demand to supply chain disruptions and plant closures, companies are grappling with the
impact and trying to understand the long-term ramifications. The automotive sector is expected to face significant disruption in production, global supply chain and customer demand — from dramatic drop in
sales of new vehicles in China to stoppage in supply chains and plant closures. Industrial product companies and chemicals products are facing deferred demand, supply disruptions and potential plant closures,
impacting retail and purchasing prices dramatically. The outbreak has also caused a significant drop in freight and passenger transport demand, in addition to cancellation of a significant number of events,
impacting airlines and transportation companies across the globe.
Actions
Enterprise How is it playing out in Advanced Now Next Beyond
resilience themes Manufacturing & Mobility?
Employee health and • Close plants and/or establishing necessary safety • Employee protection/well-being, e.g., safety • Develop new emergency and safety • Implement new emergency processes and
well-being requirements measures or flexible working hours processes measures
Talent and workforce • Implement mobile and flexible working • Organization of distant working • Managing the ramp-up of production • Enable digital factory worker initiatives
• Implement reduced working hours • Adapting shifts arrangements • Improve mobile working capabilities • Attract new talent during economic recovery
Customer safety and • Assess at-risk suppliers and customer base • Manage customer concerns and complaints • Identify new channels/services • Implement new distribution and service
brand protection • Delivery/logistics management • Monitor customer behavior • Protect market share models
• Monitor competition
Financial and investor • Liquidity management • Manage cash flows • Re-negotiate upcoming bond and credit • Implement technologies to improve
• Manage regulatory and legislative changes • Financial communication facilities forecasting accuracy and transparency,
• Manage investor communications • Measures to raise capital e.g., for cash
Risk (business • Implementing business continuity plans • Implement additional crisis management • Manage aftermath of increased risk as well • Leverage technologies to be more agile and
continuity) • Rapid planning adjustments • Review and update business continuity plans as decreased attention and focus to controls increase visibility of risks
• Identify critical continuity issue due to stress
Now (immediate three months): Responding to the crisis as clients focus on business continuity and crisis planning
Next (three to six months): Managing a restricted business, leading through ongoing business disruption
Beyond (six months and more): Bouncing back from the challenges, building a resilient enterprise, reframe the future, transform to succeed

The COVID-19 impacts on the advanced manufacturing and mobility industries are unprecedented. From end-user demand to supply chain disruptions and plant closures, companies are grappling with the
impact and trying to understand the long-term ramifications. The automotive sector is expected to face significant disruption in production, global supply chain and customer demand — from dramatic drop in
sales of new vehicles in China to stoppage in supply chains and plant closures. Industrial product companies and chemicals products are facing deferred demand, supply disruptions and potential plant closures,
impacting retail and purchasing prices dramatically. The outbreak has also caused a significant drop in freight and passenger transport demand, in addition to cancellation of a significant number of events,
impacting airlines and transportation companies across the globe.
Actions
Enterprise How is it playing out in Advanced Now Next Beyond
resilience themes Manufacturing & Mobility?
Government and • Governments launching stimulus packages • Monitor and apply for local stimulus • Leverage stimulus packages • Manage “back to normal”
public policy packages • Tax alleviation
• Assess aftermath of stimulus packages
Technology and • Improve flexible and remote working capabilities • Manage disruption and infrastructure • Improve security, performance and • Enable factory worker of the future
information security • Ensure information security limitation capabilities of mobile working • Implement advanced data analytics and AI
• Security of mobile working • Identify digital implementation opportunities
Insurance and • Review contracts and manage legal issues, e.g., • Financial communication • Review and adapt contracts to reduce • Improve visibility and establish processes
financial recovery supply claims or events cancellations • Manage claims similar risks in the future and technologies to assess risks and impacts
faster
Supply chain and • Production stoppage or shifting to/increasing • Strategic sourcing/supplier risk • Update supply chain strategy • Increase supply chain visibility
global trade production of COVID-19 required goods, e.g., management • Improve accuracy of planning • Implement a more robust supply chain
ventilators or face masks • Assess and support supply ecosystem • Plan ramp-up of production/logistics • Adjust vertical integration
• Inventory management

Recent developments/What are we hearing from clients?*
“
High priority: ensuring that factories can continue
to operate. Looking ahead to ramp-up likely to
“
Would like to have better analytics
with prediction — will be looking at
“
High priority: cash preservation
and Focus on cost control and
“
Anticipate deeper disruptions once
the business runs down current
“
Potential spike in cybersecurity
issues
come when economic activity resumes this in the future liquidity inventory levels and starts
encountering raw material shortages
“
It may well be that the factories get repurposed for
the making of medical equipment — this is in line
“
Worry about how to do year end (March
31) and also how external auditor can do
“
Reviewing all lanes from each
supplier to each facility (ongoing
“
High priority: working to prevent
overbuying of raw materials/parts
“
Daily meetings with raw material
and equipment supply teams to
with UK Government advice and requests any kind of physical audit since January) in reaction to the crisis ensure strong control over supply
Questions EY can help answer

How EY can help
• How do you secure your supply chain today and design for the future?
• How do you manage new risks and business continuity with your existing infrastructure and resources? • Digitalization of supply chain and manufacturing
• How do you assess the financial impact of COVID-19?
• How do you manage a remote workforce and ensure data security? • Business continuity and crisis management
• How do you leverage local stimulus programs?
• Accounting, tax and legal advice
• Transforming organizations to become more agile and

promote mobile working and collaboration
*Source: EY Knowledge client feedback survey.

Consumer
Consumer
The COVID-19 pandemic is accelerating the seismic changes reshaping the consumer industry market and will have lasting impact on the way people shop and what they buy. In the short term, the global
spread of COVID-19 has led to one-third of consumers experiencing some sort of lockdown and significant supply and demand volatility. Consumer staples are struggling to keep up with the demand from panic
buying, but non-essential stores are closing either voluntarily or due to containment measures that have disrupted supply chain, production and consumption. Digital channels are backing up as fulfillment and
replenishment for spiking demand tests existing capabilities. Companies are pivoting to ensure the supply of essentials while suspending activities for discretionary goods. Many are increasingly having to
balance their own liquidity needs with the physical and financial well-being of employees while also navigating emergency regulation and proactively building brand integrity by being part of the solution.
Governments are unveiling unprecedented stimulus measures and working with companies to manage the impact of the crisis.
Actions
Enterprise Now Next Beyond
How is it playing out in Consumer?
resilience themes
Employee health and • Bifurcation across sectors between hibernation of • Prioritize safety measures for frontline staff • Assess scenario impacts on employee • Plan for permanent health and safety
well-being operations and acceleration of access to essential • Tap into schemes to remunerate furloughed welfare changes
goods staff • Extend flexible and remote working • Implement long-term flexible working culture
capabilities
Talent and workforce • Pooling and prioritizing talent to where need is • Adjust shift-based working to meet priorities • Plan workforce requirements for volatility • Focus on building future workforce resiliency
greatest by flexibly reallocating resources across • Pause or accelerate hiring to match demand • Restructure labor force for longer-term • Adopt automation and digital solutions
sectors impact
Customer safety and • Building brand integrity by being part of the • Impose ethical price, source and quality • Establish transparent quality control • Communicate transparency and product
brand protection solution controls measures safety to establish trust
• Avoiding exploiting the situation for short-term • Build brand integrity by proactively • Communicate and engage proactively • Embed societal good into corporate purpose
gain supporting the wider response to the through a variety of channels, including
• Re-evaluating transparency and purpose to gain outbreak social media
trust
Financial and investor • Securing access to liquidity and government • Proactive communication with investors; • Reduce exposure to volatility via hedging • Ensure capital market stabilization before
incentives to remain solvent or support share short-term impact and business • Create plans to transfer funds from raising fresh capital/refinancing
ecosystem partners continuity plan international treasury centers and to • Plan for credit defaults and debt refinancing
• Communicating impact to assure stakeholders • Manage liquidity and low-cash position issues maintain liquidity flow
Risk (business • Implementing Business Continuity Plans by • Assess, communicate, and manage risks to • Manage volatility in supply, demand and • Leverage digital technologies to be more
continuity) establishing a task force to respond to real-time workforce and stakeholders liquidity agile
disruption • Review Business Continuity Plan, build • Resume critical processes and deliver on • Prepare for mitigation of longer-term social
• Navigating volatility and pivoting operations flexibility, plan for disruptions Business Continuity Plan and economic disruption
accordingly

Consumer
The COVID-19 pandemic is accelerating the seismic changes reshaping the consumer industry market and will have lasting impact on the way people shop and what they buy. In the short term, the global
spread of COVID-19 has led to one-third of consumers experiencing some sort of lockdown and significant supply and demand volatility. Consumer staples are struggling to keep up with the demand from panic
buying, but non-essential stores are closing either voluntarily or due to containment measures that have disrupted supply chain, production and consumption. Digital channels are backing up as fulfillment and
replenishment for spiking demand tests existing capabilities. Companies are pivoting to ensure the supply of essentials while suspending activities for discretionary goods. Many are increasingly having to
balance their own liquidity needs with the physical and financial well-being of employees while also navigating emergency regulation and proactively building brand integrity by being part of the solution.
Governments are unveiling unprecedented stimulus measures and working with companies to manage the impact of the crisis.
Actions
How is it playing out in Consumer?
resilience themes
Government and • Establishing lines of communication to work • Respond quickly to emergency measures • Lobby for support in workforce disruption • Plan for a “new normal“ regulatory
public policy together • Utilize schemes for liquidity and employee • Consider tapping into tax and fiscal landscape
• Tapping into stimulus measures to support support incentives • Work with regulators on future pandemic
liquidity • Work with governments to help communities • Adapt transfer pricing measures to planning
• Assessing tax and transfer pricing implications regulatory changes • Assess long-term implications of stimulus
measures
Technology and • Developing flexible and remote working for key • Maintain secure operations, manage • Improve security, performance and • Implement advanced digital tools, data
information security roles disruption and infrastructure limitation capabilities of mobile working analytics and AI to maintain agility
• Enhancing digital infrastructure to cope with • Use flexible working and targeted staffing to • Minimize risk of data exposure or theft • Upgrade systems to futureproof against
traffic minimize risk and manage staff shortages • Prevent spread of malware or increased workload and security challenges
• Using social media to engage with consumers and misinformation
prevent misinformation
Insurance and • Adapting to legislative changes and restrictions • Ensure robust legal communications • Review and adapt contracts to reduce future • Build swifter response capabilities into
financial recovery • Examining implications of force majeure triggers • Quickly ensure compliance to regulatory risks corporate governance structure
changes • Re-appraise insurance protection policies
Supply chain and • Pointing alternative manufacturing, supply and • Diversify supply and distribution networks • Invest in agile and collaborative fulfillment • Integrate quality control across the value
global trade distribution capabilities to where need is greatest • Identify supply and trade risks and build channels chain
• Re-negotiating to postpone supply of unneeded resilience • Embed agility and resilience in supply chain • Shift to shorter more diversified sources of
goods • Implement agile inventory management • Enable transparency of supply via digital supply
tools • Prepare channel distribution for behavioral
shifts

Consumer
Recent developments/What are we hearing from clients?
• Maintaining liquidity and cash flow — Companies are drawing down lines of credit to ensure continuity during the volatility and tapping into government or trade stimulus measures and incentives.
• Managing workforce fluctuation — Some companies must furlough the bulk of their workforce due to collapsed demand or lockdown. Conversely others are struggling to recruit fast enough to match demand. Some
are collaborating pool labor between these extremes
• Refocusing operations to have the greatest impact — Companies are consolidating the manufacture and supply of goods to focus on those most needed. In some cases, this is about prioritizing supply; in others, it is
about pivoting operations to make new products.
• Seeking opportunities to collaborate — Companies are opening up lines of communications with governments, competitors and ecosystem partners to identify how they can help, what barriers they face and how they
can navigate them collectively.
• Assessing the beyond — As companies react to fluidity of the “now” and seek to build resilience for the “next,” they are also re-thinking longer-term strategies to consider fundamental changes in employee and
consumer behaviors that might result from the outbreak.

How EY can help
• How do I stress test my business continuity program to ensure key considerations like worker safety and ongoing operational activity?
• How do I navigate the complexity of supply disruption brought on by trade barriers, border closures and market lockdowns? • “In country” support for crisis and risk management
• How can I optimize my operations to ensure that I can effectively resume supply swiftly when markets recover?
• Planning, communicating and implementing business
• How will I keep core business processes at optimal levels even with staffing and connectivity shortfalls? continuity programs
• How will I manage my cash flow through the outbreak to ensure that I can divert funds to affected operations or supply partners?
• How can I mitigate the negative effects that the outbreak could have on my brand reputation with my investors and consumers? • Digitalization of supply chain and manufacturing
• How can I create better channels of communication with internal and external stakeholders to ensure trust and compliance?
• Accounting, tax and legal advise
• How can I tap into the right stimulus measures to keep liquidity stable and maintain operational resiliency?
• How do I navigate the complexity of a continuously shifting tax and trade landscape? • Organizational transformation for agility and to promote
mobile working and collaboration
• How can I manage my staff through workforce volatility which is furloughing some roles and creating excess demand for others?
• What capabilities will I need to build to adapt to the long-term impacts on consumer and employee behaviors?

Energy & Resources: Power & Utilities
Regional power markets are increasingly at risk of prolonged demand destruction, while gas generators will be exposed to oil price volatility. Low LNG prices risk coal and renewable generation. Critical operations and
customer services will be reprioritized as employees increasingly work remotely. Non-essential maintenance work will be delayed or canceled. The commercial and industrial segment will see a decline in load served to
non-critical services in the hospitality, entertainment, transportation and tourism industries. The residential sector will demand reliable and affordable around-the-clock power and connectivity. There are heightened
liquidity fears, especially for retailers, as business and consumers defer payment of their energy bills. Technology value chains are exposed to supply-side constraints and demand-side risks — nascent markets like electric
vehicles could be temporarily derailed as discretionary spending falls away. Carbon emissions in 2020 will drop because of national responses, but efforts to accelerate the energy transition could be impacted as
investment plans are shelved as companies take steps to significantly reduce capital and operating expenses in the near term.
Actions
How is it playing out in Power & Utilities?
resilience themes
Employee health and • Sequestering critical staff, regular health • Remote working and flexible working • Voluntary self-reporting • Invest in remote health diagnostics
well-being screening for field operatives arrangements • Health screening for people returning to
• Health screening for critical staff work after infection or caring for an infected
relative
Talent and workforce • Focus on workforce resiliency and virtual training, • Critical resources and staffing plans for • Implement temporary contractor field • Perform org-redesign if needed to
shifting to remote working where possible power plant operators, line workers, workforce to counter labor shortages accommodate work changes for long term
customer care representatives
Customer safety and • Suspending disconnections and late-payment fees • Introduce relief measures for late bills and • Prioritize work orders to ensure the most • Invest in demand-side analytics to better
brand protection • Using digital channels to engage with customers no service disconnects critical outages and issues are addressed in understand customer priorities and
• Monitoring for legal threads based on worker a timely manner preferences
safety
Financial and investor • Modeling financial impact scenario implications • Assess revenue loss due to (1) waived • Develop plan for tariff adjustments if • Provide long-term value metrics that
• Planning for future contingencies based on risk service disconnections, (2) late-payment required based on scenario planning demonstrate execution against your
intelligence scenario planning and modeling waivers, (3) nonpayment and (4) reduced resilience strategy
Commercial and Industrial/residential
consumption
Risk (business • Increasing stakeholder communications, • Implement crisis task forces • Protect current transformation programs • Assess system and network risk due to
continuity) contingency planning and strategic alignment • Review Business Continuity Plan from stopping and disrupting the business replanning
activities with regulatory, advocacy groups, • Identify critical continuity issue • Manage construction delays of power
unions, etc. projects

Regional power markets are increasingly at risk of prolonged demand destruction, while gas generators will be exposed to oil price volatility. Low LNG prices risk coal and renewable generation. Critical operations and
customer services will be reprioritized as employees increasingly work remotely. Non-essential maintenance work will be delayed or canceled. The commercial and industrial segment will see a decline in load served to
non-critical services in the hospitality, entertainment, transportation and tourism industries. The residential sector will demand reliable and affordable around-the-clock power and connectivity. There are heightened
liquidity fears, especially for retailers, as business and consumers defer payment of their energy bills. Technology value chains are exposed to supply-side constraints and demand-side risks — nascent markets like electric
vehicles could be temporarily derailed as discretionary spending falls away. Carbon emissions in 2020 will drop because of national responses, but efforts to accelerate the energy transition could be impacted as
investment plans are shelved as companies take steps to significantly reduce capital and operating expenses in the near term.
Actions
How is it playing out in Power & Utilities?
resilience themes
Government and • Monitoring government fiscal stimulus and • Monitor and apply for local stimulus • Work with policymakers to ensure that • Engage with stakeholders on impact on
public policy assistance programs packages ongoing support continues company performance of any new COVID-19
• Exploring credit options for business continuity • Engage with regulators on workforce/ground policies such as tariff freezes,
operations and any emergency spend disconnections
Technology and • Updating and deploy revised safety, security and • Review technology plans to identify and • Leverage digital tools to measure sentiment • Develop long-term strategies that help
information security data protection procedures and controls solve any business limitations arising from and improve work from home experience utilities to become “digital first” to allow for
remote working • Evaluate digital-first customer experience more agile response to disasters and general
• Assess security of mobile working customer expectations
Insurance and • Seeking post-event regulatory approval for • Maintain detailed financial records of any • Update scenario plans and prepare new risk • Develop strategies that help utilities to
financial recovery emergency expenditure emergency spend or unforeseen costs or assessment business case for insurance become more “asset light” to diminish
loss of revenue structural risk
Supply chain and • Supply chain disruptions as some vendors and • Conduct impact assessment for • Determine suppliers who could face • Consider global supply chain for all critical
global trade suppliers likely to be unable to complete orders or Maintenance, repair, operations items, key prolonged financial strain due to a number of recovery processes
perform services due to equipment shortages or parts. factors
sick employees • Focus on next 8–12 weeks (inventory in • Create contingencies for defaults
system, demand, lead time (current) and
lead time (future))

• Situation: What are leading practices on managing remote workers and any literature we could share
Solution: Proactively develop transformative leadership in remote-setting guidance (included Transformative Leadership Framework and remote-working leading practices); shared a working example of how we are bringing these leading
practices to life
• Situation: How can insights be given customer-related actions
Solution: Provide a forum that allowed to establish context, and then for clients to freely and openly speak. developing a talk track to discuss specific issues with clients.

• How do we run our operations with a largely distributed and remote workforce? How EY can help
• How do we proactively serve our customers facing immediate financial hardship?
• What interim policies are required to protect reliability, safety, security and employee well-being? • Workforce advisory related to alternative working
• How do we prioritize other inflight projects and priorities? models
• How do we modify our policies and procedures in response to customer distress and regulatory directives? • Job security/protection
• How do we effectively adapt our end-to-end operations to safeguard the workforce, serve customers and manage infrastructure?
• How do we virtually address employee expertise, communications, productivity, safety? • Various grants and incentives (e.g., those related to
tax, financing, employment and investment)
• How do we fairly, equitably and quickly reinstate published policies and procedures or end customers?
• How we break down siloes across the organization to ensure a streamlined recovery? • Supply chain and procurement restructuring (for both
• How do we track and report the financial and regulatory impacts across our organization? goods and services)
• How do we maintain momentum in adoption of digital customer interaction?
• Are there opportunities to embrace a more distributed and virtualized workforce with digital tools?
• Do we need to revisit our Business Continuity Plans in light of new threats/learnings and shifts in workforce norms?

Financial Services
Financial Services
The rapid spread of COVID-19 is impacting economic growth and market volatility is increasing thus impacting the industry through weakening investment returns and potentially adverse impact on the capital
position of financial institutions around the world. This is the time to exercise patience and to avoid panic driven investment re-allocation and re-positioning. A sustained economic slowdown triggered by the
outbreak will also put negative pressure on revenues and lead to a material increase in credit risk and a potential spike in claims, including those for health, credit and event cancellation insurance. To navigate
this challenging environment Financial Services firms should focus on better communication, enhanced consumer relationships and more transparency with customers and investors. Over the short term this
outbreak is also supporting a shift toward online distribution and testing business continuity policies. Over the long term firms should use this as an opportunity to introduce comprehensive enterprise and
cyber resilience models to prepare, sense, and respond to most forms of disruption.
Actions
How is it playing out in Financial Services?
resilience themes
Employee health • Business Continuity Planning being effectively • Consider safety measures/flexible working • Support return to work of staff affected by • Re-assess well-being services
and well-being deployed hours crisis
• Significantly depleted workforces in some • Support mental resilience
instances
Talent and workforce • Implementing mobile and flexible working • Remote working management including • Modify human capital strategy to address • Build greater resilience and flexibility in
• Culture challenge as many institutions were not shifts and split teams long-term attrition, employees expectation workforce planning model (workforce in
supportive of remote working • Focus dedicated teams on future horizons to do business remotely, new business cloud)
• Identify key persons and ensure continuity demands • Eliminate key person risk
• Codify new ways of working
Customer safety and • Financial Service firms exploring avenues to • Manage customer concerns and complaints • Support client restructuring • Accelerate shift to digital channels
brand protection support greater goods, for examples through • Consistent customer comms & support as • Assess for permanency of shift in channel • Consider new structures and partnerships to
donations or by relaxing contracts and policy required demand best respond to future customer needs
terms • Temporary expansion of remote channel • Address dispute resolution and volume of
• Pressure on call centers due to increased demand capacity customer complaints
from customers • Fund suspensions and redemptions • Stand up new product development
• Acute awareness of reputational risk • Product failure, valuation difficulty and price capabilities
dislocation • Share price and fund flow volatility
Financial and investor • Dividends and buybacks being suspended to • Assess liquidity and capital impact on own • Assess mechanisms to fund strategic • Estimate impact of lower or higher (inflation-
maintain capital strength business and clients investments and growth while taking driven) interest rates on your profitability
• Impact on solvency ratios and capital • Assess forbearance impacts protective measures • Smooth / re-plan financial close process and
requirements being continuously (weekly) re- • Understand accounting implications • Assess opportunities to further diversify optimize critical processes
assessed income streams within existing business
model
• M&A opportunities + divestments

Financial Services
The rapid spread of COVID-19 is impacting economic growth and market volatility is increasing thus impacting the industry through weakening investment returns and potentially adverse impact on the capital
position of financial institutions around the world. This is the time to exercise patience and to avoid panic driven investment reallocation and repositioning. A sustained economic slowdown triggered by the
outbreak will also put negative pressure on revenues and lead to a material increase in credit risk and a potential spike in claims, including those for health, credit and event cancellation insurance. To navigate
this challenging environment Financial Services firms should focus on better communication, enhanced consumer relationships and more transparency with customers and investors. Over the short term this
outbreak is also supporting a shift toward online distribution and testing business continuity policies. Over the long term firms should use this as an opportunity to introduce comprehensive enterprise and
cyber resilience models to prepare, sense, and respond to most forms of disruption.
Actions
How is it playing out in Financial Services?
resilience themes
Risk (business • Manage credit risk • Manage credit risk to maintain strong capital • Review risk appetite and capital allocation • Leverage technologies to be more agile and
continuity) • Oversee third parties position as an insurer strategies increase visibility of risks
• Monitor new business volumes and claims • Manage aftermath of increased risk as well • Re-assess cyber resiliency for virtual model
trends as decreased attention and focus to controls • New controls around fund liquidity
• Monitor increased fraud risks due to stress • Default risk management
• Increasing oversight and comms with third • Market infrastructure stress due to
parties increased trading volumes
Government and • Working with governments and regulators to • Work with government and regulators to • Work with government bodies to identify • Anticipate and prepare for regulatory
public policy transmit stimulus packages transmit relief initiatives. pragmatic approach for Financial Services to evolution in the post-crisis environment
• Reporting deadline extensions and support economy • Retrospective forbearance compliance
regulatory relief assessments
Technology and • Manage increased risk of cyber attacks • Manage disruption and infrastructure • Leverage cloud technology to effectively • Use crisis information to inform ongoing
information security • Ensure technology platforms support increased limitations, assess single points of failure scale infrastructure in response to demand transformation, cost and customer
traffic • Security of remote working including • Address backlog activities programmes
• Working to overcome infosec issues monitoring • Re-assess resilience of critical business • Optimize balance of internal vs external
• Understand third-party resilience and services and address gaps providers
confirm alignment with firm’s own plans • Consider geographic distribution of
workforce
Supply chain and • Challenged by paper based nature of transactions • Ensure business continuity amidst • Re-evaluate and digitize business and • Embrace agile business environment
global trade unprecedented disruption and changing operations to promote resilience
demand patterns

Financial Services
• Weighted Average Maturity (WAM) : Asset managers are broadly well set up for remote working but we are seeing challenges in the middle market. Current circumstance are accelerating a pre-existing need to re-assess
operating models. Due to the necessary control being relaxed any operational errors are resulting in exacerbated financial losses due to volatile markets. Product strain in guaranteed products and money market funds
requiring injection of balance sheet capital. Opportunity to acquire capabilities and scale due to decline in valuations of peers. Tax implications due to fund status changes. Broadly speaking trying to operate business as
usual and not taking advantage – if they can – of regulatory forbearance.
• Insurance (INS): Business Continuity planning has mostly worked with isolated issues around back-up call centers and ability to e-sign contracts. Underwriting exposures has so far been limited although selected classes
are heavily exposed (e.g. travel, credit and event cancellations). Premium holidays are having significant impact on liquidity in some markets. Business interruption policies often requires physical loss to be triggered,
and businesses need to be solvent for coverage to apply, this is under pressure from politicians. Share buybacks are being suspended extreme caution is prevalent around dividends distribution. Many regulators have
data requests out to the industry, and there is regular solvency monitoring. Rating agencies are also starting to re-evaluate. A number of businesses require a minimum single “A” rating to be viable, and some ratings
appear vulnerable.
• Business Continuity Management (BCM): Firms continuing to work through implications of remote working including infosec issues particularly with captives and third party offshore centers. Firms are trying to work out
how to operationalize credit provisions including transmission of government programs. Controls are under a stressed environment and continues to be a focus of senior management and regulators. Firms are
challenged by customer access issues, volumes of queries and an increased demand for remote channels. Firms are assessing implications of new areas of regulatory focus as well as delays to long standing regulatory
programs. Reviewing implications of Q1 close and wider financial resilience issues of capital vulnerabilities and stress testing.

How EY can help
Financial Services BCM:
• What are you doing to strengthen control • How are you updating your credit risk models? • Impact assessments for remote work, security operations,
where you have amended internal processes? • How are you going to manage demand for increased volumes of customer support for related third- and fourth-party readiness for critical vendors, testing
• How are you proactively communicating with government programs? to assess remote infrastructure and capabilities
customers and employees? INS: • Automated access provisioning / process re-design to
• What models do you have in place to • What tools do you have in place to quickly understand the potential impact on claims and reserves for manage rush requests
understand how your assets are impacted impacted lines of business?
across different business line / regions you’re • Stress testing for financial impact
• How are appraising early warning indicators by country, by business line across your portfolios?
operating in?
• Restructuring and turnaround services (incl. debtor
• How are you re-assessing your business and
WAM: assessment, administrator, disposals)
technology transformation initiatives?
• How are you assessing the impact of new and • How are you preparing for potential triggers to investment mandates and increased redemptions? • Fund liquidity, asset valuation and strategic cost
expected regulatory changes and guidance? • How to value illiquid assets in volatile markets? transformation
• How to assess the impact of fund status and liquidity changes?

Government & Public Sector
COVID-19 is presenting unprecedented challenges and transformations for governments. First, governments must confront the immediate public health emergency by increasing health system capacity and
securing medical supply chains. Second, governments must maintain essential core functions, including public safety, food supply chains and access to education. This is made more complex by the competing
demands of core functions and the increasing vulnerability of populations most at risk. Third, governments must address the significant economic consequences of essential public health containment
strategies. In the short term, governments will need to provide direct financial assistance to businesses and individuals in order to maintain employment levels and prevent the collapse of household finances.
Once containment strategies are lifted, governments will need to design and implement conventional economic stimulus packages and reshape economic recovery packages to ensure their fiscal sustainability.
Actions
How is it playing out in Government & Public Now Next Beyond
GPS subsectors
Sector?
Public health • Risk of demand exceeding health care system • Rapid deployment of triage apps to prioritize • Increase health care system capacity • Build resiliency in telehealth and social care
capacity health care • Supply/demand analyses and supply chain systems
• Operationalization and medical supply chain • Real-time analytics to effectively monitor protection • Leverage technology to optimize patient
disruption patients engagement
Education/digital • Sudden progression to virtual and remote working • Focused and rapid remote-working access • Rectification of gaps and weakness to scale • Upskill and train the digital workforce of
workforce for government head offices and service delivery solutions mass remote workforces and ensure tomorrow
centers • Identify critical business functions and continuity of services • Use distributive teaming to narrow the
staffing levels digital skills gap
Social services • Increased vulnerability of at-risk populations and • Rapid identification of service breakdown • Policy design and implementation of new • Build 360-degree citizen-centric services
breakdown in traditional modes of service delivery and quick remediation solutions to maintain channels to maximize service delivery models
service delivery • Digitalize key services and automate • Develop cognitive service delivery channels
• Targeting of services to high-need processes and integrate intelligent automation
populations
Public finance • Scale of economic intervention necessary for • Prioritize policy frameworks to maximize • Leverage restructuring services to help • Restructuring budgets for financial recovery,
emergency support strains existing budgets and efficiency and minimize costs governments identify risks and opportunities including grant management long-term fiscal
challenges long-term fiscal sustainability • Targeting of services to high-need to budgets, including cost-benefit and stability, oversight and compliance,
populations forecasting analysis economic development strategies
Business support • Rapid liquidity needed to support economy in the • Make businesses aware of available • Economic modeling to target support where • Re-orient economic development programs.
short term economic assistance and what to expect multipliers and spillovers to other industries • Communicate with stakeholders on their role
• Over the longer term, tax measures and targeted are greatest in economic recovery and fiscal
financial spending are required for economic • Leverage advanced accounting techniques to sustainability
recovery track economic support and recovery
funding

COVID-19 is presenting unprecedented challenges and transformations for governments. First, governments must confront the immediate public health emergency by increasing health system capacity and
securing medical supply chains. Second, governments must maintain essential core functions, including public safety, food supply chains and access to education. This is made more complex by the competing
demands of core functions and the increasing vulnerability of populations most at risk. Third, governments must address the significant economic consequences of essential public health containment
strategies. In the short term, governments will need to provide direct financial assistance to businesses and individuals in order to maintain employment levels and prevent the collapse of household finances.
Once containment strategies are lifted, governments will need to design and implement conventional economic stimulus packages and reshape economic recovery packages to ensure their fiscal sustainability.
Actions
How is it playing out in Government & Public Now Next Beyond
GPS subsectors
Sector?
Taxation • Delay of tax processing and lack of policy • Tax modeling tools to perform rapid analysis • Analyze long-term economic development • Support tax administrations in the design
evaluation of COVID-19 impacts to tax revenue, objectives in determining the form of and implementation of real/near-time tax
• Most of medium-term stimulus will be provided refunds, payments, interest stimulus to implement remittance, electronic invoicing and online
through the tax system cash register solutions
Infrastructure and • Demand-based transportation revenue takes a hit • Short-term liquidity support • Revitalization of transport and mobility • Build flexibility in transport ecosystem
mobility • Project delays in securing funding, start of • Maintain minimum viable services during services • Restructure resources
greenfield projects and postponements of disruption • Re-evaluation of long-term strategy and
divestments ecosystem effects
Defense • Sudden shift to virtual and remote working for • Need for network capacity to support remote • Build long-term workforce engagement • Invest in networks capable of securing
large segments of the military delivery through remote delivery and digital remote delivery
• Defense supply chain disruption • Need for supply chain resilience to survive management systems • Build greater fungibility into the supply chain
stress test • Integrate digital aids into work to automate of the future while also ensuring its security
key tasks
Global trade and • Disruption in government procurement supply • Provide strategic and tactical level threat • Integrate advanced data analytics to inform • Improve infrastructure and technology to
customs chains screening to quickly triage information on program and investment decisions for facilitate trade and build resiliency in supply
• Ongoing trade tensions and policy uncertainty existing supply chain vulnerabilities and securing supply chains and maintaining chains
manage potential shortfalls continuity of supplies • Reform policies to encourage multilateral
cooperation

• Ensuring appropriate access to medical care and building a resilient health and social care system. Governments are utilizing excess capacity to shore up health systems and provide hospitals with the operational
support to balance crisis management and ongoing routine care delivery.
• Maintaining critical service delivery and supporting the most vulnerable. Governments are implementing contingency plans to address the increased vulnerability of “at-risk” populations and disruption of
traditional modes of service delivery.
• Sudden progression of a virtual workforce and distance learning. Governments are rapidly deploying digital management tools to support a remote workforce and e-learning to ensure continuity of business
operations and education during disruption.
• Providing urgent liquidity support for SMEs and individuals. Governments are rushing to provide immediate financial assistance for businesses and individuals to maintain employment levels and prevent household
finances from collapsing.
• Ensuring economic recovery. Governments are investigating stimulus policies and targeted spending for economic recovery.
• Accelerating the digital transformation of the military to prepare for future pandemics.
• How do we increase health system capacity and optimize resources for patient tracking, monitoring and engagement? How EY can help
• How do we target critical services toward populations most at risk and ensure service delivery continuity?
• Digital experience platforms for near real-time data
• How do we harness citizen engagement and build data-driven insights despite social distancing and the disruption of normal business operations? analytics of health and social care needs
• How do we rapidly and efficiently deploy broadband capabilities to support the surge of crisis-driven online activities? • Broadening and prioritizing services for citizens through
• How do we accelerate remote-working capabilities as well as maintain security and reliability across government networks? predictive analytics
• How do we enhance e-learning strategies, maintain student enrollment and ensure continuity of learning during school closures? • Economic modeling, including cost/benefit analysis, to
• How do we transform the government workforce to address the digital skills gap and leverage cutting-edge technologies? increase impact of economic interventions
• How do we address short-term liquidity gaps for SMEs and individuals to maintain employment levels and prevent the collapse of household finances? • Tax policy design and implementation, public finance
• How do we upgrade tax administrations and leverage economic modeling to target economic stimulus to where it is most needed? management and regulatory reform advice to maintain
financial sustainability
• How do we restructure administrative departments and services to improve planning and budgeting, manage current and future deficits and address
structural deficiencies for long-term fiscal sustainability?

Real Estate, Hospitality & Construction
Hospitality and tourism have seen the most significant impact with an almost complete shutdown in activity and bookings in many countries. However, tentative signs of recovery are beginning to emerge in
China. The construction sector has been hit by an inconsistent response to site closures and significant supply chain disruption leading to delays that are both expensive and challenging to manage. Real estate
buildings are either closed (retail mall, office, etc.) or having to accommodate extremely high levels of use (residential, care homes, food distribution). Access to capital remains a priority for a capital-intensive
industry, and volatile market conditions are particularly challenging. Engagement and communication with financial counterparties and investors are critical as are government initiatives to ensure the ongoing
provision of capital. The severity of the economic downturn and unprecedented disruption to consumer activity will impact all sectors through 2020 with many companies having already withdrawn guidance.
Demand shocks will have a significant negative impact in the near term, but the longer-term consequence is likely to be an acceleration in the transformation of how people live, work and shop with important
implications for how they use the built environment.
Actions
Enterprise How is it playing out in Real Estate, Hospitality Now Next Beyond
resilience themes & Construction?
Employee health and • Uncertainty around site closures in construction • Prioritize safety measures for site/frontline • Provide legal guidelines in terms of • Address health and safety across building
well-being • Many properties now closed staff employer/employee rights and obligations portfolio
• Deal with employee concerns and address • Re-assess the working model and benefits
communication
Talent and workforce • Implementing mobile and flexible working • Re-purpose existing assets into makeshift • Restructure workforce to address business • Re-assess resourcing requirements and
• Communicating on all matters and especially uses disruption staffing model
approach to employment, liquidity and leases • Productivity analysis on impact of remote • Workplace of the future • Implement flexible working culture
working
Customer safety and • Non-payment or delay/deferral of lease • Engage with tenant base around lease • Establish and communicate revised policies • Partnership and alliance with firms capable
brand protection obligations, occupancy collapsed payments/terms around lease terms, agree on payment plans. of rapid response and brand management
• Construction projects delayed furlough and • Risk assessments and scenario planning • Re-purpose Investor Relations team to • Proactively respond to changes in how
materials • Construction — engage around contract enhance communication occupiers use the built environment as a
terms/penalties result of this pandemic
Financial and investor • Capital-intensive industries, so front of mind • Drawing on cash flows and depending on • Review cash flow management and if • Further efforts to de-risk balance sheets and
• Drawing on cash flows and monitoring capital severity of impact, accessing alternative applicable re-negotiate debt maturities or improve financial flexibility
market access capital sources restructure capital base • Enhanced partnerships to improve capital
• Cutting all non-essential expenditure, including • Cutting all non-essential expenditure • Measures to raise capital access
Capex
Risk (business • Pulling guidance, re-forecasting 2020 • Plan for scenarios and risks • Manage aftermath of increased risk as well • Leverage technologies to increase visibility
continuity) expectations • Consider workout and Foreclosure as decreased attention and focus to controls of risks
• Maintaining management, board and stakeholder alternatives due to stress • Grow training and development and
(internal and external) engagement • Focus on good communication – tenant, • Assess managed services applicability for managed services and resilience
borrower, bank noncritical processes

Hospitality and tourism have seen the most significant impact with an almost complete shutdown in activity and bookings in many countries. However, tentative signs of recovery are beginning to emerge in
China. The construction sector has been hit by an inconsistent response to site closures and significant supply chain disruption leading to delays that are both expensive and challenging to manage. Real estate
buildings are either closed (retail mall, office, etc.) or having to accommodate extremely high levels of use (residential, care homes, food distribution). Access to capital remains a priority for a capital-intensive
industry, and volatile market conditions are particularly challenging. Engagement and communication with financial counterparties and investors are critical as are government initiatives to ensure the ongoing
provision of capital. The severity of the economic downturn and unprecedented disruption to consumer activity will impact all sectors through 2020 with many companies having already withdrawn guidance.
Demand shocks will have a significant negative impact in the near term, but the longer-term consequence is likely to be an acceleration in the transformation of how people live, work and shop with important
implications for how they use the built environment.
Actions
Enterprise How is it playing out in Real Estate, Hospitality Now Next Beyond
resilience themes & Construction?
Government and • Governments launching stimulus packages • Assess the application of support programs • Leverage stimulus packages • Repayment of public funds
public policy • Legislating non-payment of rent from agencies and new regulations • Tax alleviation
• Advocate policy changes in light of lessons
learned
Technology and • Utilising flexible and remote working to ensure • Assess the impact on tech infrastructure and • Assess applicability of current asset portfolio • Acceleration of prop-tech and con-tech
information security connectivity at all levels stack to enable remote working including to transition toward smarter buildings solutions
security • Heightened importance of cyber, privacy,
• Take stock of current assets and portfolio digital trust and smart building technologies
• Maintain security and operation of physical
assets
Insurance and • Significant uncertainty around the applicability of • Establish framework and policies for filing • Apply for insurance claims modify coverage • Identify future contract exposures and re-
financial recovery force majeure provisions and/or insurance cover claims and restructuring leases negotiate
• Document all actions • Adoption of managed services solutions
Supply chain and • Production issues are a major concern for • Disruption inevitable, delaying progress on- • Review strength of supply chains and • Identify future contract exposures and re-
global trade construction site consider more optionality with suppliers negotiate
• Elsewhere, low risk • Contingency planning to source alternative • Revisit supply chain
materials • Accelerate shift to modular and off-site
• Assessing contract delays and associated construction
penalties

• Hospitality: Front-end of the crisis with companies having closed properties and furloughed workers. Pulling all available levers to access and preserve cash, including tapping Revolving Credit Facilities (RCFs), cutting
Capex, marketing and all nonessential spending. Working with governments to access emergency assistance. Signs of life in China; Marriott still has 30 hotels closed, down from 90 at the end of February.
• Construction: Supply chain impacts, particularly from China and project delays/ cancellations are in focus right now with liquidity and cash flow implications. Construction shutdowns are inconsistent (city to city) putting
workers’ health in focus alongside uncertainty around the applicability of force majeure or business interruption clauses. Expect project write-downs, impairments — construction delays are expensive, but backlog of
work remains high, so large-scale layoffs are not likely, leading to potential for reduced profitability and losses.
• Real estate: Subsector-dependent (retail, health care at the forefront, taking more drastic action; data centers, storage, apartments less impacted); people and workforce issues remain in focus, but immediate needs
have to be addressed; liquidity and cash management, as well as tenant/resident actions, are top of mind. Depending on the subsector, companies are drawing on RCFs, trying to establish spreads in volatile capital
markets and addressing strategies for lease nonpayment, which include, but are not limited to, deferral, reductions, blend and extend, loans and investments. Renewals and extensions are also in focus.

How EY can help
• What is the cash burn / liquidity need? How do I balance short-term liquidity needs with longer term business impacts/risks?
• What operational cost savings and working capital opportunities can I access? • Accounting and tax advice, especially where actions taken
are outside typical business practices
• What are the implications of any potential debt restructuring or foreclosure?
• Liquidity management, debt restructuring, Capex planning,
• Will any actions I take give rise to compliance issues? sale or monetization of non-core assets, including
divestiture planning
• How can I manage my staff through this volatility and what cost-cutting levers can be pulled to avoid staff redundancies? What tax implications do these
• Business continuity and crisis management
measures give rise to?
• Re-balancing and reshaping the business, both during and
• How can I access stimulus measures to enhance liquidity and maintain operational activities? after the crisis, including organizational transformation
• How can I improve both internal and external channels of communication with lenders, borrowers and tenants? • Help clients navigate force majeure or similar clause
applicability
• How can I manage a remote workforce and ensure data security?
• Help clients understand and apply for government stimulus
• What capabilities will I need to develop for the long-term to respond to the likely change in resident, tenant and investor behavior? benefits.

Health Sciences & Wellness
Health systems face challenges on two fronts: 1. preventing the spread of COVID-19 while caring for those affected with the virus or ill with other conditions; 2. managing business continuity issues, including both workforce health and
supply chain disruptions. COVID-19 is a threat to health systems worldwide. Health systems in hot spots have been overwhelmed. COVID-19 is more transmissible and fatal than seasonal influenza. Conducting widespread testing in
communities has been difficult due to shortages of diagnostics and personal protective equipment. To reduce the demand for critical care and, more importantly, the number of deaths, health systems and governments need to take
five steps: 1) slow COVID-19’s spread; 2) reduce the surge in cases; 3) enable access to care; 4) expand testing; and 5) tailor isolation. Health care clients now face multiple business continuity issues, including shortages of staff (e.g.,
primary and critical care physicians) and essential equipment (e.g., test kits, protective clothing, ventilators). Beyond medical equipment, supply chains for medicines, devices and blood products have been disrupted. In addition,
providers must still deliver essential non—COVID-19 health care while simultaneously responding to the crisis. Increased expenditures linked to testing, hospitalizations and support for vulnerable individuals will affect payers and
government.
Actions
How is it playing out in health?
resilience themes
Employee health and • Risk of infection, particularly for frontline staff • Secure maximum supplies of protective • Implement new ways of working to protect • People and culture transformation to adopt
well-being • Significant impact to morale and widespread clothing frontline clinical workers virtual care more broadly
burnout during sustained infection period • Deploy virtual care technologies to reduce • Reinforce processes enabling clinical staff to
contact for critical frontline staff and work at top of qualifications
preserve safety of population
Talent and workforce • Workforce shortages during peak of the outbreak • Analysis/modeling to predict workforce • Model workforce capacity/risk along the • Care model optimization
due to (1) demand and (2) frontline staff deficit and infection rate infection curve
contracting virus • Augment workforce (e.g., recently retired; • Provide continuing education on COVID-19
upskilling) best practices
Customer safety and • Patient care and safety and workforce safety are • Mobilize COVID-19 Crisis Command Center • Deliver omnichannel communications to • Consumer-led strategy/operating model
brand protection No. 1 priority during peak demand for rapid response consumers and community • Smart hospital transformation
• Maximize workforce and technology • Assess opportunities for research and
solutions clinical trials
Financial and investor • Loss of revenue from canceled non-urgent activity • Manage revenue cycle • Process backlog of claims/revenue cycle • Revenue cycle transformation
• Reimbursement concerns for COVID-19 activity • Optimize revenue through rapid coding • Ramp up non-COVID activity • Performance optimization/cost take-out
• Significant costs associated with surge in demand • Defer non-critical projects and expenditures • Optimize remote monitoring to reduce length • RPA and process improvement
of stay
Risk (business • Anticipate risk issues around resilience, business • Complete risk assessments and rapid • Manage the transition to next stage of • Business continuity and resilience
continuity) continuity and supply chain weaknesses mitigation strategies business as usual transformation
• Rapid introduction of technologies requires strong • Introduce crisis management strategies • Undertake financial risk assessments • Pandemic management strategy
cybersecurity focus • Focus on resilience and business continuity • Implement ongoing business continuity
planning planning
• Complete cyber assessments
Health systems face challenges on two fronts: 1. preventing the spread of COVID-19 while caring for those affected with the virus or ill with other conditions; 2. managing business continuity issues, including both workforce health and
supply chain disruptions. COVID-19 is a threat to health systems worldwide. Health systems in hot spots have been overwhelmed. COVID-19 is more transmissible and fatal than seasonal influenza. Conducting widespread testing in
communities has been difficult due to shortages of diagnostics and personal protective equipment. To reduce the demand for critical care and, more importantly, the number of deaths, health systems and governments need to take
five steps: 1) slow COVID-19’s spread; 2) reduce the surge in cases; 3) enable access to care; 4) expand testing; and 5) tailor isolation. Health care clients now face multiple business continuity issues, including shortages of staff (e.g.,
primary and critical care physicians) and essential equipment (e.g., test kits, protective clothing, ventilators). Beyond medical equipment, supply chains for medicines, devices and blood products have been disrupted. In addition,
providers must still deliver essential non—COVID-19 health care while simultaneously responding to the crisis. Increased expenditures linked to testing, hospitalizations and support for vulnerable individuals will affect payers and
government.
Actions
How is it playing out in health?
resilience themes
Government and • Emergency policy changes affect health sector • Operationalize unprecedented policy • Focus on recession management • Government resilience transformation
public policy • Geopolitical implications including travel changes • Develop economy recovery policies • Health sector reform
restrictions and shortages in supplies • Develop and roll out significant stimulus • Consider public/private bail-outs
packages and economy management
• Establish COVID-19 as a notifiable disease
Technology and • Need for rapid response establishment of • Undertake rapid technology deployment for • Focus on stabilization of rapidly deployed • Digital strategy and transformation
information security technology infrastructure for care solutions and triage and patient management technology solutions • Smart Hospital transformation
remote working, e.g., enhanced network • Virtual care expansion
connectivity, corporate solutions
Insurance and • Lack of transparency in pandemic coverage with • Expedite claims management • Undertake impact modelling to insurance • Insurance business enterprise
financial recovery insurance providers creates financial risk • Introduce temporary changes in client base transformation
• Widespread unemployment compounds impact to reimbursement policy for COVID-19 testing • Continue to monitor policy updates and • Digital strategy and transformation
payers operating primarily through employers implications
Supply chain and • Supply chain shortages globally for key medical • Conduct supply/demand and capacity deficit • Undertake ongoing supply chain risk and • Supply chain transformation targeting single
global trade equipment — tests, beds, equipment, food, surface analyses resiliency assessment and mitigation points of failure and data-driven monitoring
cleaners • Assess and implement mitigating actions, strategies
e.g. smart supply sharing • Strengthen supply-chain Business Continuity
Planning processes

• Establishing triage control and processes to keep those with mild COVID-19 symptoms away from the hospital, encouraging the use of telemedicine applications to assess patients and support their care needs and
also using alternative sites of care for those not infected
• Analyzing risk management, supply chain and supply/demand modeling for essential supplies
• Adjusting supply chain to work with new parties across different geographic areas (national and international)
• Focusing resources toward onboarding and training clinicians in using telehealth technologies
• Cross-training staff to build different more flexible skill sets such as upskilling clinical staff to work in intensive care
• Resources redeployment across service lines in hospitals and augmenting workforce with newly retired clinical personnel
• Financial modeling and forecasting around multiple scenarios of surge demand and resources deployment
• Focus on reducing cost by treating each patient in the right care setting at the right time and avoiding unnecessary Emergency Department (ED) and clinic visits
How EY can help

• With constrained resources, how can care be maintained for COVID-19 patients and the general population?
• Deep EY technology experience, alliances and partnerships
• What strategies are open to help navigate the complexity of supply disruption? can assist with developing enterprise resilience, forecasting
and analysis, supply chain management, digital
• To manage sustained disruption, what is the right crisis management infrastructure that needs to be in place? enablement, and workforce and talent management
• How can health care organizations protect and support their workforce to deliver care at peak demand?
• A globally integrated EY team can provide “in-country”
• Will health provider organizations build upon their experiences in implementing health technologies and move toward becoming smart hospitals? support for rapid standing up of crisis management
command centers
• As health data becomes a more valuable target for hackers, how should health care organizations strengthen their cybersecurity?
• How can relief support available be accessed to meet the influx of new patients and COVID-19-related expenses?

Private Equity
Private Equity
COVID-19 Enterprise Resiliency Framework : Now, Next & Beyond
As an industry with more than US$3.4t in AUM that employs more than 20m people across the world and owns companies across a wide range of industries, Private Equity has been preparing for a slowdown
and to deal with a full gamut of effects. For most funds, tackling thorny issues at the portfolio level is the first priority – supply chain management, liquidity and working capital issues, strategic re-alignment,
and crisis management. As logjams in the deal market resolve in the coming weeks/months, Private Equity will focus on deployment.
Actions
How is it playing out in Private Equity?
resilience themes
Employee health and • Firms are working remotely across the space • Deal with employee concerns regarding risk • Improve ability to work remotely/maintain • Adding analytics capabilities and the ability
well-being • Working with management teams to understand of virus infections in workplace/client business services to drill deep into the financial and operating
and respond to portco issues interactions/travel, etc. • Develop new emergency processes metrics of their portfolios
• Address crisis communication in cases of
employee infections
Talent and workforce • Diligence and financing issues from remote • Transition Limited Partners and other • Extending virtual deal rooms and diligence • Attracting new talent during economic
working meetings to virtual • Alternate arrangements for recruiting recovery
• Recruitment is paused • Virtual site visits and diligence classes
• Portfolio impacts • Facilities arrangements
Customer safety and • Increased communication required with Limited • Limited Partner comms on strategy shifts • Longer hold periods in store: General • Potential for increased investment in RPA
brand protection Partners • Respond to ad hoc requests for portfolio Partner-led secondaries for Limited Partners and investment portals to manage Limited
exposures and valuation changes wanting liquidity ahead of revised timelines. Partner comms
• Increased liquidity in the secondary market
Financial and investor • Calling capital from Limited Partners • Capital calls from Limited Partners to repay • Working with lenders on acquisition financing • Opportunistic refinancing
• Extending liquidity runway for portcos subscription lines • Opportunity for debt buybacks where • Acceleration of shift to private credit
• Establishing cash management / liquidity office • Manage short-term liquidity for portocs appropriate providors
• Drawing revolvers • Manage covenants
Now: (immediate three months) Responding to the crisis as clients focus on business continuity and crisis planning.
Next: (three to six months) Managing a restricted business, leading through ongoing business disruption
Beyond: (six months and more) Bouncing back from the challenges, building a resilient enterprise, reframe the future, Transform to succeed

Private Equity
COVID-19 Enterprise Resiliency Framework : Now, Next & Beyond
As an industry with more than US$3.4t in AUM that employs more than 20m people across the world and owns companies across a wide range of industries, Private Equity has been preparing for a slowdown
and to deal with a full gamut of effects. For most funds, tackling thorny issues at the portfolio level is the first priority – supply chain management, liquidity and working capital issues, strategic realignment,
and crisis management. As logjams in the deal market resolve in the coming weeks/months, Private Equity will focus on deployment.
Actions
How is it playing out in Private Equity?
resilience themes
Risk (business • Crisis management and risk assessments across • Implement crisis task forces • Ongoing risk intelligence monitoring • Leverage technologies to be more agile and
continuity) the portfolio • Review business continuity plan • Risk response operating procedures increase visibility of risks
• Existing deals moving forward, seeking • Identify critical continuity issue • Major crisis management
opportunities in certain parts of the market
Government and • Private Equity firms are working to understand • Evaluation of packages – should portcos • Leverage stimulus packages • Manage “back to normal“
public policy various state aid packages and prioritize across apply • Designing systems/procedures to help firms
their portfolios • Potential tax ramifications of debt buybacks comply
• Monitoring and compliance
Technology and • Developing alternative tech for fundraising and • Maintain business services and information • Remote diligence • Enhanced dashboarding to better
information security deals flows • Fundraising re-ups driven by existing Limited understand portfolio metrics in real time
• Deploying IT resources for portcos Partners • Implement advanced data analytics and AI
Insurance and • PE firms are revising fundraising and deal docs to • Adding increased flexibility into Limited • Greater flexibility to persist in new offering • Manage Limited Partner reaction to fund-
financial recovery incorporate pandemic considerations Partner agreements – borrowing facilities, docs for foreseeable future level borrowing
investment mandates, etc.
• Material Adverse change clauses and others
for deal docs
Supply chain and • Assessing supply chain impacts across the • Conduct Supply Chain analytics and • Identify and qualify alternative source of • Build long-term implications and issue
global trade portfolio intelligence; dynamic network optimization supply tracker to de-risk impact to business as usual
post-crisis event
Beyond: (six months and more) Bouncing back from the challenges, building a resilient enterprise, reframe the future, Transform to succeed

Private Equity
• Private Equity firms are focused on the portfolio, working through the disruptions caused by the spread of the virus – employee health and well-being, managing supply chain disruptions, and heading off liquidity
issues. While firms have mobilized large teams of operating partners, the scale of the disruption has seen them inundated.
• As governments across the world roll out massive amounts of financial stimulus, firms are looking for help understanding how it impacts their portcos.
• Credit funds are looking for value. Firms are looking for par recovery opportunities in publicly traded companies where the debt is trading well below par, where conviction is strong that companies will survive the
downturn, and where diligence is more easily conducted and transparency is higher. Many expect that government interventions will be insufficient, and that many companies will be seeking additional supersenior
financing in the coming weeks. Some however, continue to sit on the sidelines, expecting large opportunities that will yield 20%-25% net returns to materialize in the coming weeks and month.
• Responsibility still matters: Many examples of Private Equity Firms firms stepping up to help – donating cash and supplies to help fight the virus, and helping to mitigate the economic impact for those affected by the
fallout.

How EY can help
• What’s the vulnerability of the portfolio to supply chain disruptions, human capital disruptions, and liquidity disruptions? Have you identified the full
range of risks and disruptions across the portfolio? • Rapid assessment to provide transparency on potential
business risks and give clear guidance for action
• From a strategy perspective, what companies need the most immediate assistance? What are companies doing within their existing footprint and
revenue strategy that needs to be accelerated and adapted to a changing environment? • Stimulus as a service for the portfolio
• Supply chain risk management to understand portfolio

• Is a holistic approach needed for liquidity and cash management? How can you take the existing portfolio and identify those with short-term to medium-
term cash needs, and identify where the pinch points are? What’s the size of the need over the next few months under different scenarios? Which • Revenue dynamics and operating model strategy
portcos have corrective actions that can be taken, vs. Private Equity firms just writing another cheque?
• Revamped “new normal” investment strategy (by sector)
• What are the tax implications of debt buybacks and debt restructurings?
• For credit funds, what opportunities may exist for par recovery plays on public market debt? On the equity side, what opportunities exist for take-
privates and Private investment in public equity (PIPEs)?

Technology, Media & Entertainment, Telecom
COVID-19 Enterprise Resiliency Framework: Now, Next & Beyond
The industries that make up Technology, Media & Entertainment, Telecom are deeply impacted by COVID-19. Consumption patterns in general have shifted abruptly from real live experiences to virtual
business models. Sports venues, movie theatres, theme parks, software developer conferences and product launch meetings have been replaced by teleconferences and online entertainment. Cloud based
services are booming and this is putting pressure on the cloud and telecom infrastructure, where investments lead to temporary growth in sales in servers and hardware components. Keeping employees safe,
reducing risks from supply chain disruptions and balancing short term liquidity needs with enhancing long term brand value by providing improved online customer experiences are key to guiding companies
through the current crisis to a world that will increasingly be implementing digital transformation.
Actions
Enterprise How is it playing out in Technology, Media & Now Next Beyond
resilience themes Entertainment, Telecom?
Employee health and • Enabling Working From Home for employees and • Deal with employee concerns regarding risk • Improve ability to work remotely/maintain • Embrace new technologies and operating
well-being cancelling events of virus business services, restricting all travel models in both front and back offices to the
• Ensuring safety of frontline field and technical • Address crisis communication in cases of • Introduce additional digital tools to enable extent the business allows
staff employee infections and develop new more flexibility • Introduce/ extend e-learning tools and
emergency processes upskilling solutions
Talent and workforce • Enabling staff to work remotely, given limited • Enable interviews through teleconference, • Test and deploy new tech/remote • Attracting new talent during economic
number of personnel working at retail stores and consider temporary workforce and paid collaboration platforms recovery
contact centres leave • Explore human capital considerations, • Explore and implement managed services to
• Provide network capacity and strengthening including crisis management frameworks and allow companies to focus on core activities
back-end contingencies
Customer safety and • Providing free services or features to customers • Offering free services or free premium • Introduce additional digital tools and • Establish pandemic-specific policies around
brand protection • Providing different subscription models to manage features offerings service delivery
cash • Adjusting tariff and usage plans to provide • Re-evaluate pricing strategies in line with the • RPA Hyper-Automation to kick-in in recovery
more flexibility market phase
• Capitalize on brand investments, expand
service offerings
Financial and investor • Managing short term liquidity • Leverage credit lines and assess financing • Evaluate tax treatment of potential • Increase forecasting ability through
• Managing investor sentiments options, revisit capital allocation catastrophic losses intelligent automation
• Shrub receivables to understand COVID-19 • Model impact on delayed receivables against • Plan for credit defaults and debt refinancing
exposure opportunity to delay payments; Assess
impairments
Beyond: (six months plus) Bouncing back from the challenges, building a resilient enterprise, reframe the future, Transform to succeed

COVID-19 Enterprise Resiliency Framework: Now, Next & Beyond
The industries that make up Technology, Media & Entertainment, Telecom are deeply impacted by COVID-19. Consumption patterns in general have shifted abruptly from real live experiences to virtual
business models. Sports venues, movie theatres, theme parks, software developer conferences and product launch meetings have been replaced by teleconferences and online entertainment. Cloud based
services are booming and this is putting pressure on the cloud and telecom infrastructure, where investments lead to temporary growth in sales in servers and hardware components. Keeping employees safe,
reducing risks from supply chain disruptions and balancing short term liquidity needs with enhancing long term brand value by providing improved online customer experiences are key to guiding companies
through the current crisis to a world that will increasingly be implementing digital transformation.
Actions
Enterprise How is it playing out in Technology, Media & Now Next Beyond
resilience themes Entertainment, Telecom?
Risk (business • Activating business continuity plans and issuing • C-suite to ensure digital network monitoring • Ongoing risk intelligence monitoring • Evaluate client loss/risk situations and
continuity) incident management alerts • C-suite to establish dedicated COVID-19 • Evaluate effectiveness of compliance and engage with claims services to analyze,
response team integrity management prepare, present and settle complex
business continuity claims
Government and • Trying to understand various stimulus package • Evaluation of stimulus packages • Leverage stimulus packages • Manage “back to normal“ scenario with
public policy • Ensure smooth functioning of the internet • Discuss potential options to increase • Monitoring and compliance government and regulators
bandwidth
Technology and • Ensuring network and digital infra resilience, and • Maintain business services and information • Comprehensively update resilience process • Digital transformation including
information security operation continuity flows and operating procedures cybersecurity to gain prominence
Insurance and • Managing financial exposure in times of crisis • Review insurance coverage and hedge • Assess financial impact of closures and • Re-assess insurance plans and policies in
financial recovery • Maintaining operations and service deliver exposure stranded costs such as risks, provisions and light of crisis learnings
impairments
Supply chain and • Conduct end-to-end supply chain risk assessments • Companies are reviewing vendors and supply • Develop new supply chain forecasting • Set up real-time supply chain risk monitoring
global trade lines models and reporting framework
• Assess potential further disruption • Model alternate supply scenarios and trade-
offs
Beyond: (six months plus) Bouncing back from the challenges, building a resilient enterprise, reframe the future, Transform to succeed

• Workforce - Bandwidth issues for employees working from home using VPN/internal systems; managing contingent and hourly workforce; Security protocols due to remote access to Personally identifiable information and confidential
data (e.g., call center personnel)
• Customer - Demanding concessions, e.g., M&E, telecoms; Huge impact by closure of theatres and amusement parks; consideration to collectability of Accounts Receivable, chargebacks, extended payment terms, courtesy credits, free service
offerings and future revenue implications
• Financing - Leveraging lines of credit and assessing financing options; Deferred closing of debt deals due to market uncertainty; delayed IPO plans; M&A transactions paused; private companies (e.g. venture-backed) ability to access to cash has
become extremely difficult
• Working capital - Liquidating investments to support working capital; working with vendors to extend payment terms
• Supply chain - Adapting logistics and methods to transport goods; experiencing production delays for content, cancelation of live events
• Cybersecurity - Figuring out how to manage confidential and non-public information with the Working From Home situation; Phishing emails – heightened risk in light of employees working remotely

How EY can help
• Employee safety and brand protection - How can you mitigate the effects of the outbreak on my brand? How can you better communicate with internal and external
stakeholders?
• Workforce management, mitigation plans, and employee
• Talent and workforce - How can you ensure field sales are effective using virtual tools? engagement within a pandemic situation
• Financial and investor - Is there a need to re-formulate the business model, analyze liquidity or review your capital allocation strategy? How will I re-assure my investors that
contingencies are in place? How will I manage my cash flow through the outbreak? • Build robust and dynamic responsive forecast models and
assess working capital-related risk
• Risk - How is the public health crisis expected to impact business forecast in the remainder of the fiscal year? What measures will keep core business processes at optimal
levels? • Assess impact on demand and supply as well as support
short-term liquidity and financial planning
• Technology and information security - Can you work with technology and ecosystem partners to quickly understand how your markets have changed, and adapt to those
new dynamics and risks? Are you considering all of the physical and cybersecurity threats your company and people are exposed to? How will you maintain front-end • Optimize supplier portfolios to enable cost/tax savings
support if my local back office is affected?
• Take a proactive and strategic approach to risk and
• Supply chain resilience - Do you have the tools and models to develop new supply chain, cash, revenue, and cost models?
security using a security-by-design mindset
• Tax and trade - How do you navigate the tax and trade complexity of diversifying supply? What non-tariff barriers might slow down alternative routes to market? What tax
incentives and treatments should you consider?

EY Service Lines Worldwide
Assurance Tax Advisory Transaction advisory

Helping to support organizations in Helping clients develop/execute business Helping clients solve big, complex issues Helping companies drive inclusive growth
promoting investor confidence, managing strategies, blending local technical and capitalize on opportunities to grow, by focusing on their capital and
regulatory responsibilities and supporting knowledge with regional and global tax optimize and protect the business: transaction strategy through to execution
long-term, sustainable economic growth. insights: • Emerging Technologies to drive fast-track value creation:
• Audit • Tax Planning • Big Data and Analytics • Strategy Services
• Audit Quality • Tax Accounting and Risk Advisory • Customer Experience • Corporate Finance
• EY Digital Audit Services • Cybersecurity • Valuation
• Financial Accounting Advisory • Tax Compliance • Digital Transformation • Buy and Integrate
Services • Managing Tax Controversy and Policy • Performance Improvement • Sell and Separate
• Forensic and Integrity Services • Tax Function Operations • Purpose Led Transformation • Reshaping Results
• Climate Change and Sustainability • Risk • Digital M&A Framework
Services • Strategy • Infrastructure Advisory
• Private Client Services • People and Workforce
• EY Reporting
• Sustainability Matters
94,220 professionals 59,577 professionals 67,477 professionals 17,461 professionals
US$12.6b revenue US$9.5b revenue US$10.2b revenue US$4.1b revenue
Transformed audit – confidence, Competencies in business tax, Business alliances enhance our Integrated services across the
transparency, perspective, data analytics international tax, transaction tax and tax- capabilities transaction life cycle
Support risks beyond financial related issues associated with people, Centers of Excellence to deliver digital Support the flow of capital across
statements, e.g., regulation, accounting, compliance and reporting. transformation strategy, e.g., borders, help bring new products and
fraud, cyber Global Tax Desks facilitate timely cybersecurity, analytics, manufacturing innovation to market, and enable
collaboration organizations to reshape themselves for
a better future
Figures as of June 30, 2019; source “Global Review 2019” on ey.com

Contact
EY Sri Lanka & Maldives

Transaction Advisory Services (TAS) Assurance
Ruwan Fernando Manil Jayasinghe

TAS Leader Assurance Leader
Corporate Finance, Valuation, M&A, Infrastructure Advisory Audit, Financial Accounting Advisory, Forensic and Integrity Services
Office: +94 11 557 8502 | Mobile: +94 77 363 5916 | Office: +94 11 246 3506 | Mobile: +94 77 751 0621 |
Ruwan.Fernando@lk.ey.com manil.jayesinghe@lk.ey.com
TAX Advisory
Duminda Hulangamuwa Arjuna Herath

TAX Leader Advisory Leader
Tax Planning, Tax Compliance, Managing Tax Controversy and Policy Technology, Risk, Human Resource, Strategy, and Performance Improvement
Office: +94 11 557 8101 | Mobile: +94 77 364 7440 | Office: +94 11 557 8603 | Mobile: +94 77 364 7437 |
Arjuna.Herath@lk.ey.com
Duminda.Hulangamuwa@lk.ey.com

EY | Assurance | Tax | Transactions | Advisory
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COVID-19 Impact Towards Different Industries

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COVID-19 Impact Towards Different Industries

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COVID-19 Industry Market

2 Coping with COVID-19 06

3 Advanced Manufacturing & Mobility 10

5 Energy & Resources: Power & Utilities 18

7 Government & Public Sector 26

8 Real Estate, Hospitality & Construction 30

9 Health Sciences & Wellness 34

11 Technology, Media & Entertainment, Telecom 42

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Drivers of change creating new ecosystems

Page 5 21 April 2020 COVID-19 industry markets overview

Now Next Beyond

Continue Adapt Operations Increase Resilience Reframe

► Re-start production COO ► Increase workforce flexibility HR ► Heighten response to health,

Consumer – reputation, demand fulfilment, trust, innovative offerings, brand loyalty

Human – wellbeing, retention, diversity, culture, development

We believe businesses that consider the impact of their decisions

The EY Long-Term Value Framework provides companies with a

Page 7 21 April 2020 COVID-19 industry markets overview

Enterprise Resilience Framework

Stakeholder-focus to protect value: Insurance

Human Now: During its immediate response.

Page 8 21 April 2020 COVID-19 industry markets overview

Assess stakeholder impact

b. Define and prioritize stakeholder outcomes - consistent with the

Focus on protecting stakeholder value

a. Proactively communicate a resilience strategy to protect value for Risk

Page 9 21 April 2020 COVID-19 industry markets overview

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Recent developments/What are we hearing from clients?*

Questions EY can help answer

• Transforming organizations to become more agile and

*Source: EY Knowledge client feedback survey.

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Recent developments/What are we hearing from clients?

Questions EY can help answer

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Recent developments/What are we hearing from clients?

• Situation: How can insights be given customer-related actions

Questions EY can help answer

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Recent developments/What are we hearing from clients?

Questions EY can help answer

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Recent developments/What are we hearing from clients?

Questions EY can help answer

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Recent developments/What are we hearing from clients?

Questions EY can help answer

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