The Audit and Finance Committee of Sypris Solutions, Inc. (NASDAQ:SYPR) approved an amendment to the promissory note (the “Promissory Note”) previously issued by the Company in favor of Gill Family Capital Management, Inc., to provide for the payment of interest on the first day of each consecutive quarter, rather than at maturity on January 30, 2019. All other terms of the Promissory Note, as amended, remain in place.

The key terms of the Promissory Note and the prior amendments to the Promissory Note were disclosed on the Company’s Current Report on Form 8-K, as filed with the Securities and Exchange Commission (“SEC”) on March 12, 2015, on the Company’s Current Report on Form 8-K, as filed with the SEC on June 17, 2015, on the Company’s Current Report on Form 8-K, as filed with the SEC on November 3, 2015, and on the Company’s Current Report on Form 8-K, as filed with the SEC on March 2, 2016. The original Promissory Note dated March 12, 2015 was filed as an exhibit to the Company’s Annual Report on Form 10-K, as filed with the Securities and Exchange Commission on March 31, 2015.