<SEC-DOCUMENT>0001214659-23-010195.txt : 20230731
<SEC-HEADER>0001214659-23-010195.hdr.sgml : 20230731
<ACCEPTANCE-DATETIME>20230728183124
ACCESSION NUMBER:		0001214659-23-010195
CONFORMED SUBMISSION TYPE:	PX14A6G
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20230731
DATE AS OF CHANGE:		20230728
EFFECTIVENESS DATE:		20230731

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MESA LABORATORIES INC /CO/
		CENTRAL INDEX KEY:			0000724004
		STANDARD INDUSTRIAL CLASSIFICATION:	INDUSTRIAL INSTRUMENTS FOR MEASUREMENT, DISPLAY, AND CONTROL [3823]
		IRS NUMBER:				840872291
		STATE OF INCORPORATION:			CO
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		PX14A6G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-11740
		FILM NUMBER:		231124559

	BUSINESS ADDRESS:	
		STREET 1:		12100 W 6TH AVE
		CITY:			LAKEWOOD
		STATE:			CO
		ZIP:			80228
		BUSINESS PHONE:		3039878000

	MAIL ADDRESS:	
		STREET 1:		12100 W 6TH AVE
		CITY:			LAKEWOOD
		STATE:			CO
		ZIP:			80228

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MESA LABORATORIES INC /CO
		DATE OF NAME CHANGE:	19951117

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MESA MEDICAL INC
		DATE OF NAME CHANGE:	19921123

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AS YOU SOW
		CENTRAL INDEX KEY:			0001086462
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			CA

	FILING VALUES:
		FORM TYPE:		PX14A6G

	BUSINESS ADDRESS:	
		STREET 1:		2150 KITTREDGE ST.
		STREET 2:		SUITE 450
		CITY:			BERKELEY
		STATE:			CA
		ZIP:			94704
		BUSINESS PHONE:		510-735-8155

	MAIL ADDRESS:	
		STREET 1:		2150 KITTREDGE ST.
		STREET 2:		SUITE 450
		CITY:			BERKELEY
		STATE:			CA
		ZIP:			94704
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    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 10%"><FONT STYLE="font-size: 8pt; color: #00813D">Main Post Office, P.O. Box 751&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; width: 80%; white-space: nowrap"><FONT STYLE="font-size: 8pt; color: #73C167"><B>www.asyousow.org</B></FONT></TD></TR>
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    <TD STYLE="white-space: nowrap"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 8pt; color: #00813D">Berkeley, CA 94704</FONT></P>
                                    <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 8pt; color: #00813D"> &nbsp;&nbsp;&nbsp;</FONT></P></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 7.5pt; color: #73C167">BUILDING A SAFE, JUST, AND SUSTAINABLE WORLD SINCE 1992</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Notice of Exempt Solicitation Pursuant to Rule 14a-103</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Name of the Registrant: Mesa Laboratories Inc<BR>
Name of persons relying on exemption:&nbsp;<I>As You Sow</I>&reg;<BR>
Address of persons relying on exemption: Main Post Office, P.O. Box 751, Berkeley, CA 94704</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Written materials are submitted pursuant to Rule 14a-6(g)(1) promulgated
under the Securities Exchange Act of 1934.&nbsp;Submission is not required of this filer under the terms of the Rule, but is made voluntarily
in the interest of public disclosure and consideration of these important issues.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 9pt; background-color: #B8CCE4">&nbsp;</P>

<P STYLE="font: bold 16pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 16pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Mesa Laboratories Inc (MLAB)<BR>
Vote Yes: Item #6 &ndash; Shareholder Proposal on Reporting Material Scope 1 Through 3 Greenhouse Gas Emissions Across Value Chain</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-weight: normal">Annual Meeting:
August 25, 2023 </FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CONTACT: David Shugar | david@asyousow.org</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 3pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 13pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; background-color: #B8CCE4">THE RESOLUTION</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>BE IT RESOLVED</B>: Shareholders request that Mesa Labs measure
and annually report its material Scope 1 through 3 greenhouse gas emissions across the Company&rsquo;s full value-chain.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SUPPORTING STATEMENT</B>: Proponents suggest, at management discretion,
the Company report:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>A timeline for setting a 1.5&deg;C-aligned Net Zero by 2050 target for the Company&rsquo;s full value chain emissions, aligned interim
emissions reduction goals, and a climate transition plan to achieve them.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: bold 13pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; background-color: #B8CCE4">SUMMARY</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">The window for limiting global warming to 1.5 degrees Celsius (&ldquo;1.5&deg;C&rdquo;)
is quickly narrowing,<SUP>1</SUP> requiring immediate, dramatic emissions reduction from all market sectors.<SUP>2</SUP> Failure to reach
Net Zero emissions by 2050 is projected to <FONT STYLE="font-size: 11pt">have disastrous economic consequences,<SUP>3</SUP> impacting
companies and investor portfolios.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">The healthcare sectors of 40 countries, including the U.S., are responsible
for almost 5% of global annual greenhouse gas (&ldquo;GHG&rdquo;) emissions. In the U.S., the health sector makes up 8 &ndash; 10% of
total carbon emissions, with medical retailers accounting for the largest share.<SUP>4</SUP> The vast majority of global healthcare&rsquo;s
GHG emissions originate in the supply chain, making this the area of highest impact for health care decarbonization.<SUP>5</SUP></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0">_____________________________</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>1</SUP> https://www.ipcc.ch/2021/08/09/ar6-wghttps://www.ipcc.ch/2021/08/09/ar6-wg1-20210809-pr/1-20210809-pr/</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt"><SUP>2</SUP></FONT> h<FONT STYLE="font-size: 9pt">ttps://www.ipcc.ch/report/ar6/wg3/downloads/report/IPCC_AR6_WGIII_FullReport.pdf</FONT></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>3</SUP> https://www.nytimes.com/2021/04/22/climate/climate-change-economy.html</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>4</SUP> https://iopscience.iop.org/article/10.1088/1748-9326/ab19e1/meta#erlab19e1s4</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>5</SUP> https://www.healthaffairs.org/doi/10.1377/hlthaff.2020.01118</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #71C267">&nbsp;</P>

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    <TD STYLE="white-space: nowrap; width: 10%"><IMG SRC="asyousowlogo.jpg" ALT=""><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 90%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 9pt; color: rgb(0,129,61)"><B>2023
Proxy Memo</B></FONT></P>
                                                <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; color: #00813B"><FONT STYLE="font-size: 10pt; color: #00813D"><B></B></FONT><FONT STYLE="font-size: 10pt; font-weight: normal">Mesa Laboratories Inc | Greenhouse Gas Emissions Across Value Chain</FONT></P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Mesa Labs is a global leader in producing tools and quality control
solutions for the medical and pharmaceutical industries. Mesa Labs lacks any GHG emissions disclosures. The Company also lacks emissions
reduction targets, despite noting in its latest 10-K that climate change could present physical risks to the Company&rsquo;s infrastructure
and operations, disrupt its supply chains and distribution systems, and increase its costs or disrupt sourcing, manufacturing and distribution
of products due to climate-related legal and regulatory actions.<SUP>6</SUP> Indeed, the SEC has proposed the Climate Disclosure Rule,<SUP>7</SUP>
which the Company appears unprepared to address. Assessing, quantifying and disclosing its GHG emissions across its full value chain,
and setting reduction targets, would enable Mesa Labs to understand the full range of the climate impacts and climate risks of its direct
operations and supply chains, and to create strategies to reduce such risk.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Over $59 trillion of assets under management have adopted net zero
goals for portfolios,<SUP>8</SUP> underscoring that shareholders are increasingly concerned about corporate plans to address climate-related
risks and opportunities. Mesa Labs is falling behind peers, such as Thermo Fisher Scientific,<SUP>9</SUP> 3M,<SUP>10</SUP> Ametek,<SUP>11</SUP>
and General Electric,<SUP>12</SUP> which have all disclosed emissions data and established emission reduction targets, while Mesa Labs
has failed to do so.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">By measuring and disclosing its Scope 1, 2, and 3 emissions, Mesa Labs
can provide investors with assurance that management is taking action to measure and manage its climate-related risks and opportunities.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 13pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; background-color: #B8CCE4">RATIONALE FOR A
YES VOTE</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.4in; text-indent: -0.15in"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.4in; text-indent: -0.15in"><B>1. Mesa Labs is exposed to climate-related
regulatory, competitive, physical, and supply chain risks.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><B>2. Mesa Labs does not disclose emissions or a plan to
reduce its material value chain emissions.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0in"><B>3. Mesa Labs significantly lags its
peers in disclosing emissions and addressing it<FONT STYLE="font-size: 9pt">s climate impact.</FONT></B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 9pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; background-color: #B8CCE4"><FONT STYLE="font-size: 13pt">DISCUSSION</FONT></P>


<P STYLE="margin: 0">&nbsp;</P>

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                                                                                                                                         <TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>1.</B></TD><TD><B>Mesa Labs is exposed to climate-related regulatory, competitive, physical, and supply chain risks.</B></TD></TR></TABLE>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0">_____________________________</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>6</SUP> <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/724004/000143774922013906/mlab20220331b_10k.htm">https://www.sec.gov/ix?doc=/Archives/edgar/data/724004/000143774922013906/mlab20220331b_10k.htm</A></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>7</SUP> https://www.sec.gov/news/press-release/2022-46</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>8</SUP> https://www.netzeroassetmanagers.org/signatories/</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>9</SUP> https://ir.thermofisher.com/investors/news-events/news/news-details/2022/Thermo-Fisher-Scientific-Raises-Greenhouse-Gas-Emissions-Reduction-Target-on-Path-to-Net-zero-Emissions/default.aspx</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>10</SUP> https://www.3m.com/3M/en_US/sustainability-us/environmental/climate-and-energy/</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>11</SUP> https://investors.ametek.com/news-releases/news-release-details/ametek-releases-2021-sustainability-report</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>12</SUP> https://www.climateaction100.org/company/general-electric-company/</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #71C267">&nbsp;</P>

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    <TD STYLE="white-space: nowrap; width: 10%"><IMG SRC="asyousowlogo.jpg" ALT=""><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 90%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 9pt; color: rgb(0,129,61)"><B>2023
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                                                <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; color: #00813B"><FONT STYLE="font-size: 10pt; color: #00813D"><B></B></FONT><FONT STYLE="font-size: 10pt; font-weight: normal">Mesa Laboratories Inc | Greenhouse Gas Emissions Across Value Chain</FONT></P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Mesa Labs states in its 10-K that climate change can result in new
or additional regulatory requirements that may increase the costs associated with sourcing, manufacturing, and distribution.<SUP>13</SUP>
Indeed, in March 2022, the Securities and Exchange Commission (&ldquo;SEC&rdquo;) proposed rules to enhance and standardize climate-related
disclosures for investors. The proposed rules would require registrants to include information about climate-related risks, including
GHG emissions.<SUP>14</SUP> While the SEC has yet to finalize its disclosure rule, the European Union (&ldquo;EU&rdquo;) succeeded in
finalizing the Corporate Sustainability Reporting Directive, under which EU and certain non-EU companies operating in Europe will have
to report Scope 1, 2, and 3 emissions, exemplifying that climate-related regulatory action is increasing globally.<SUP>15</SUP> Mesa Labs
appears unprepared to comply with such requirements and does not offer a timeline for future action.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">In its 10-K, Mesa Labs identified the multiple acute and chronic risks
it is exposed to due to changing climate patterns. Mesa Labs states that climate change impacts can &ldquo;adversely impact our facilities
and operations and disrupt our supply chains and distribution systems.&rdquo;<SUP>16</SUP> Disruption can lead to long lead times, difficulty
obtaining components, and delayed order fulfillment, constraining business.<SUP>17</SUP> The number and cost of weather and climate disasters
are increasing in the U.S.,<SUP>18</SUP> meaning such disruptions may become more likely and costly. While the physical and supply chain
risk presented by climate change is recognized by the Company, Mesa Labs has yet to establish a plan to measure and reduce emissions.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>2.</B></TD><TD><B>Mesa Labs does not disclose emissions or a plan or goal to reduce its material value chain emissions.</B></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">While Mesa Labs recognizes the serious impact of climate-related risks
to its business, it has failed to address them by providing shareholders a plan to measure and reduce emissions in line with the Paris
Agreement&rsquo;s 1.5<SUP>o</SUP> C goal. The Company&rsquo;s lack of emissions and climate-related disclosures prevents shareholders
from evaluating the Company&rsquo;s management of climate-related risks and opportunities. In its 2023 ESG brochure, the Company provides
anecdotal information suggesting that it is taking climate action. For example, Mesa Labs states it has implemented remote work to reduce
CO<SUB>2</SUB> emissions from commuting, but it fails to quantify that progress or to address its other emission sources and activities.<SUP>19
</SUP>The few metrics that are provided do not enable share<FONT STYLE="font-size: 9pt">holders to assess company-wide performance or
supply chain risk.</FONT></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0">_____________________________</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>13</SUP> https://www.sec.gov/ix?doc=/Archives/edgar/data/724004/000143774922013906/mlab20220331b_10k.htm#item1,
p.17</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>14</SUP> https://www.sec.gov/news/press-release/2022-46</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>15</SUP> https://corpgov.law.harvard.edu/2023/01/30/eu-finalizes-esg-reporting-rules-with-international-impacts/</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>16</SUP> https://www.sec.gov/ix?doc=/Archives/edgar/data/724004/000143774922013906/mlab20220331b_10k.htm#item1,
p.17</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>17</SUP> https://www.sec.gov/ix?doc=/Archives/edgar/data/724004/000143774922013906/mlab20220331b_10k.htm#item1,
p.14</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>18</SUP> https://www.climate.gov/news-features/blogs/2022-us-billion-dollar-weather-and-climate-disasters-historical-context</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>19</SUP> https://mesalabs.com/hubfs/Mesa%20Laboratories%20-%202023%20ESG%20Program%20Brochure.pdf,
p.7</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <TD STYLE="white-space: nowrap; width: 90%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 9pt; color: rgb(0,129,61)"><B>2023
Proxy Memo</B></FONT></P>
                                                <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; color: #00813B"><FONT STYLE="font-size: 10pt; color: #00813D"><B></B></FONT><FONT STYLE="font-size: 10pt; font-weight: normal">Mesa Laboratories Inc | Greenhouse Gas Emissions Across Value Chain</FONT></P>
                                                <P STYLE="margin-top: 0; margin-bottom: 0"></P></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">The Company&rsquo;s own core strategy, <I>The Mesa Way</I>, is focused
on four pillars, the very first of which is &ldquo;Measure what matters.&rdquo;<SUP>20</SUP> Yet, the Company fails to measure or disclose
its GHG emissions and provide a timeline to investors for disclosing such emissions. Measuring GHG emissions and risk across the Company&rsquo;s
value chain is critical to making fully informed investment decisions and adopting effective risk mitigation strategies. Proactively addressing
climate will decrease future compliance burdens and improve capital allocation decisions. CDP results show the financial benefits of climate
action can be 15 times higher than the cost of risk mitigation.<SUP>21</SUP> Companies that directly address the climate crisis put themselves
in a strong position of alignment with global best practices and affirmatively position their enterprise to benefit from the transition
to a net zero economy.<SUP>22</SUP></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>3.</B></TD><TD><B>Mesa Labs significantly lags its peers in disclosing emissions and addressing climate impact.</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Mesa Labs lacks transparency and leadership when considering the actions
of its peers and the market more broadly. Over 80% of S&amp;P 500 companies disclose data, including GHG emissions, to CDP in response
to the climate crisis.<SUP>23</SUP> Mesa Labs&rsquo; peers Thermo Fisher Scientific,<SUP>24</SUP> 3M,<SUP>25</SUP> Ametek,<SUP>26</SUP>
and General Electric all disclose emissions data and have established emission reduction targets.<SUP>27</SUP> Mesa Labs has not set emissions
reduction targets, let alone net zero targets or 1.5&deg;C-aligned targets. Nor has the Company announced clear plans or a timeline for
doing so.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
  <TR STYLE="vertical-align: top; background-color: #9CC2E5">
    <TD STYLE="width: 20%; border: Black 1pt solid"><B>Peer Group</B></TD>
    <TD STYLE="width: 16%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><B>Discloses <BR>
Scope 1 &amp; 2 <BR>
Emissions</B></TD>
    <TD STYLE="width: 16%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><B>Discloses <BR>
Scope 3 <BR>
Emissions</B></TD>
    <TD STYLE="width: 16%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><B>Any Emissions <BR>
Reduction <BR>
Target</B></TD>
    <TD STYLE="width: 16%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><B>Targets <BR>
Validated by <BR>
SBTi</B></TD>
    <TD STYLE="width: 16%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><B>Committed to <BR>
SBTi but <BR>
targets not <BR>
yet validated</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">Mesa Labs</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #F4B083">No</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #F4B083">No</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #F4B083">No</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #F4B083">No</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #F4B083">No</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">Ametek</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #A8D08D">Yes</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #F4B083">No</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #A8D08D">Yes</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #F4B083">No</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #F4B083">No</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">General Electric</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #A8D08D">Yes</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #A8D08D">Yes (use of sold products)</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #A8D08D">Yes</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #F4B083">No</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #F4B083">No</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">Thermo Fisher Scientific</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #A8D08D">Yes</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #A8D08D">Yes</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #A8D08D">Yes</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #A8D08D">Yes</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">N/A</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">3M</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #A8D08D">Yes</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #A8D08D">Yes</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #A8D08D">Yes</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #F4B083">No</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #A8D08D">No</TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Mesa Labs&rsquo; lagging climate performance with <FONT STYLE="font-size: 9pt">respect
to its competitors and its peer group increases competitive risk and may harm the Company&rsquo;s financial performance. </FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0">_____________________________</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>20</SUP> https://www.sec.gov/ix?doc=/Archives/edgar/data/724004/000143774922013906/mlab20220331b_10k.htm#item1,
p. 2</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>21</SUP> https://www.cdp.net/en/articles/investor/the-future-of-corporate-climate-action-sp-500-firms-assessing-risks-and-financial-benefits-of-transition</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>22</SUP> https://www.cdp.net/en/articles/investor/the-future-of-corporate-climate-action-sp-500-firms-assessing-risks-and-financial-benefits-of-transition</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>23</SUP> https://www.cdp.net/en/articles/investor/the-future-of-corporate-climate-action-sp-500-firms-assessing-risks-and-financial-benefits-of-transition</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>24</SUP> https://ir.thermofisher.com/investors/news-events/news/news-details/2022/Thermo-Fisher-Scientific-Raises-Greenhouse-Gas-Emissions-Reduction-Target-on-Path-to-Net-zero-Emissions/default.aspx</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>25</SUP> https://www.3m.com/3M/en_US/sustainability-us/environmental/climate-and-energy/</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>26</SUP> https://investors.ametek.com/news-releases/news-release-details/ametek-releases-2021-sustainability-report</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>27</SUP> https://www.climateaction100.org/company/general-electric-company/</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #71C267">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <TD STYLE="white-space: nowrap; width: 90%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 9pt; color: rgb(0,129,61)"><B>2023
Proxy Memo</B></FONT></P>
                                                <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; color: #00813B"><FONT STYLE="font-size: 10pt; color: #00813D"><B></B></FONT><FONT STYLE="font-size: 10pt; font-weight: normal">Mesa Laboratories Inc | Greenhouse Gas Emissions Across Value Chain</FONT></P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 13pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; background-color: #B8CCE4">RESPONSE TO MESA
LABS BOARD OF DIRECTORS&rsquo; STATEMENT IN OPPOSITION</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">The opposition statement from the Board suggests a wait-and-see approach
to climate action until the SEC releases its final rule on Climate Disclosures. Shareholders, however, have been clear that such a delay
is unnecessary and potentially risky to the Company&rsquo;s future performance. Even if the SEC were to withdraw its Climate Disclosure
Rule, shareholders seek climate disclosure and climate action from issuers. Recognition of this fact led the SEC to issue its rule in
the first place.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Climate-related regulations are rapidly expanding worldwide, leaving
no doubt that Mesa Labs will inevitably have to address climate disclosure to and impact from its business. Delaying the collection and
publication of increasingly standard disclosures, such as emissions data, may cause Mesa Labs to miss out on the time and opportunity
needed to transition strategically rather than abruptly. By being proactive and taking steps now, Mesa Labs can ensure that its operations
remain efficient and aligned with evolving standards. It is widely recognized that proactive climate action is far more advantageous than
reactive measures.<SUP>28</SUP></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Further, the SEC Climate Disclosure Rule follows decades of corporate
voluntary sustainability reporting and over a decade of regulatory efforts in other markets to mandate corporate climate reporting. The
SEC rule builds on established voluntary frameworks, such as Task Force for Climate-Related Financial Disclosure (&ldquo;TCFD&rdquo;)
and the GHG Protocol that provide readily available tools for conducting emissions inventories and disclosing relevant risks and opportunities.<SUP>29</SUP>
The SEC is not likely to introduce unexpected or disruptive requirements, making it highly beneficial for our Company to proactively align
with such frameworks.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">The type of climate disclosure investors expect is clear, with emissions
disclosures considered a fundamental element of shareholder decision-making. Mesa Labs&rsquo; current disclosures on environmental and
climate-related risks lack substance and fail to provide shareholders with a comprehensive understanding of the measures Mesa Labs has
in place to address climate risk and capitalize on opportunities. This lack of transparency undermines shareholder confidence and hinders
our ability to assess the Company&rsquo;s risk profile. This proposal requests greater transparency and accountability in Mesa Labs&rsquo;
disclosures, which will benefit all shareholders.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">In conclusion, the Board&rsquo;s rationale for delaying an emissions
inventory and related reporting is concerning. By postponing this crucial work, the Company puts its enterprise at a competitive dis<FONT STYLE="font-size: 11pt">advantage
in the marketplace and restricts its ability to innovate in response to climate challenges. As shareholders, it is in our best interest
to support this proposal and safeguard the Company&rsquo;s future.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0">_____________________________</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>28</SUP> https://hbr.org/2021/03/what-bidens-sustainability-agenda-means-for-business#:~:text=To%20start%20assessing%2C%20managing%2C%20and%20reducing%20climate-related%20risk,set%</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0">20science-based%20targets%20to%20address%20their%20climate-related%20risks.</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>29</SUP> https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4339497</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #71C267">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="white-space: nowrap; width: 10%"><IMG SRC="asyousowlogo.jpg" ALT=""><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 90%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 9pt; color: rgb(0,129,61)"><B>2023
Proxy Memo</B></FONT></P>
                                                <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; color: #00813B"><FONT STYLE="font-size: 10pt; color: #00813D"><B></B></FONT><FONT STYLE="font-size: 10pt; font-weight: normal">Mesa Laboratories Inc | Greenhouse Gas Emissions Across Value Chain</FONT></P>
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</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: bold 9pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; background-color: #B8CCE4"><FONT STYLE="font-size: 13pt">CONCLUSION</FONT></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Mesa Labs is failing to address its climate
risk exposure and meet investor expectations around increasingly standard climate disclosures. The Company has not disclosed its Scope
1, 2, or 3 emissions data, and has failed to set emissions reduction targets despite increasing regulatory, competitive, and transition
risks. <B>We urge a &ldquo;Yes&rdquo; vote on this resolution requesting disclosure of Mesa Labs material emissions.</B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Vote &ldquo;Yes&rdquo; on this Shareholder Proposal 6.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>--</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><I>For questions, please contact David Shugar, As You Sow, david@asyousow.org
</I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">THE FOREGOING INFORMATION MAY BE DISSEMINATED TO SHAREHOLDERS VIA TELEPHONE,
U.S. MAIL, E-MAIL, CERTAIN WEBSITES AND CERTAIN SOCIAL MEDIA VENUES, AND SHOULD NOT BE CONSTRUED AS INVESTMENT ADVICE OR AS A SOLICITATION
OF AUTHORITY TO VOTE YOUR PROXY. THE COST OF DISSEMINATING THE FOREGOING INFORMATION TO SHAREHOLDERS IS BEING BORNE ENTIRELY BY ONE OR
MORE OF THE CO-FILERS. PROXY CARDS WILL NOT BE ACCEPTED BY ANY CO-FILER. PLEASE DO NOT SEND YOUR PROXY TO ANY CO-FILER. TO VOTE YOUR PROXY,
PLEASE FOLLOW THE INSTRUCTIONS ON YOUR PROXY CARD<I>.</I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0">6</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
