<SEC-DOCUMENT>0001104659-26-068835.txt : 20260601
<SEC-HEADER>0001104659-26-068835.hdr.sgml : 20260601
<ACCEPTANCE-DATETIME>20260601150002
ACCESSION NUMBER:		0001104659-26-068835
CONFORMED SUBMISSION TYPE:	SD
PUBLIC DOCUMENT COUNT:		2
<RULE>
<RULE-NAME>13p-1
<ITEM>
<ITEM-NUMBER>1.01
<ITEM-PERIOD>20251231
</ITEM>
</RULE>
FILED AS OF DATE:		20260601
DATE AS OF CHANGE:		20260601

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AeroVironment Inc
		CENTRAL INDEX KEY:			0001368622
		STANDARD INDUSTRIAL CLASSIFICATION:	AIRCRAFT [3721]
		ORGANIZATION NAME:           	04 Manufacturing
		EIN:				952705790
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0430

	FILING VALUES:
		FORM TYPE:		SD
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33261
		FILM NUMBER:		261049892

	BUSINESS ADDRESS:	
		STREET 1:		241 18TH STREET SOUTH, SUITE 650
		CITY:			ARLINGTON
		STATE:			VA
		ZIP:			22202
		BUSINESS PHONE:		(703) 418-2828

	MAIL ADDRESS:	
		STREET 1:		241 18TH STREET SOUTH, SUITE 650
		CITY:			ARLINGTON
		STATE:			VA
		ZIP:			22202
</SEC-HEADER>
<DOCUMENT>
<TYPE>SD
<SEQUENCE>1
<FILENAME>tm2616474d1_sd.htm
<DESCRIPTION>FORM SD
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<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

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

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM&nbsp;SD</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SPECIALIZED DISCLOSURE REPORT</B></P>

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

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AEROVIRONMENT,&nbsp;INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of the registrant as specified in its
charter)</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="vertical-align: top; width: 33%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Delaware</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 32%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>001-33261</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 33%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>95-2705790</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(State or other jurisdiction of<BR>
incorporation)</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Commission File Number)</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(I.R.S. Employer<BR>
Identification No.)</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>241 18<SUP>th</SUP> Street South, Suite 650</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Arlington, VA 22202</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Address of principal executive offices, including
zip code)</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Melissa A. Brown</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(703) 418-2828</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Name and telephone number, including area code,
of the person to contact in connection with this report.)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5pt; text-indent: -0.5pt">Check the appropriate box to indicate
the rule&nbsp;pursuant to which this form is being filed, and provide the period to which the information in this form applies:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5pt; text-indent: -0.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"><FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT> &#8239;Rule&nbsp;13p-1
under the Securities Exchange Act (17 CFR 240.13p-1) for the reporting period from January&nbsp;1 to December&nbsp;31, 2025.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;1 &mdash; Conflict Minerals Disclosure</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 10%; text-align: left"><B>Item&#8239;1.01 </B></TD><TD STYLE="text-align: justify; width: 90%"><B>Conflict Minerals Disclosure and Report</B></TD>
</TR></TABLE>

<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"><B>Conflict Minerals Disclosure</B></P>

<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">A copy of AeroVironment&rsquo;s Conflict Minerals Report is filed as
Exhibit&nbsp;1.01 hereto and is publicly available at www.avinc.com.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 10%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Item 1.02</B></FONT></TD><TD STYLE="width: 90%"><B>Exhibit</B></TD></TR></TABLE>

<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">AeroVironment has included its Conflict Minerals Report as Exhibit&nbsp;1.01
to this Form&nbsp;SD.</P>

<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"><B>Section&nbsp;2 &mdash; Exhibits</B></P>

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

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<TD STYLE="width: 0%"></TD><TD STYLE="width: 10%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Item 2.01</B></FONT></TD><TD STYLE="width: 90%"><B>Exhibits</B></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 10%; text-align: left"><A HREF="tm2616474d1_ex1-01.htm">Exhibit&nbsp;1.01</A></TD><TD STYLE="text-align: justify; width: 90%"><A HREF="tm2616474d1_ex1-01.htm">Conflict
Minerals Report as required by Items 1.01 and 1.02 of Form&nbsp;SD.</A></TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the duly authorized undersigned.</P>

<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">AEROVIRONMENT,&nbsp;INC.</P>

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

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    <TD STYLE="width: 49%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Melissa Brown</FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">June 1, 2026</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By: Melissa Brown</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9.35pt; text-indent: -9.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>EVP, Chief Legal Officer</I></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TYPE>EX-1.01
<SEQUENCE>2
<FILENAME>tm2616474d1_ex1-01.htm
<DESCRIPTION>EXHIBIT 1.01
<TEXT>
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<P STYLE="font-size: 10pt; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 8.65pt"><FONT STYLE="font-size: 10pt"><B>Exhibit&nbsp;1.01</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 8.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>Conflict Minerals
Report</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>For The Year
Ended December&nbsp;31, 2025</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36.75pt"><FONT STYLE="font-size: 10pt">This report for
the year ended December&nbsp;31, 2025 is presented to comply with Rule&nbsp;13p-1 under the Securities Exchange Act of 1934 (the &ldquo;Rule&rdquo;).&nbsp;Please
refer to the Rule,&nbsp;Specialized Disclosure Report on Form&nbsp;SD (&ldquo;Form&nbsp;SD&rdquo;) and the 1934 Act Release No.&nbsp;34-67716
(August&nbsp;22, 2012) for definitions of the terms used in this report, unless otherwise defined herein.&nbsp;&nbsp;This report has
been prepared by the management of AeroVironment,&nbsp;Inc. (herein referred to as &ldquo;AeroVironment,&rdquo; the &ldquo;Company,&rdquo;
 &ldquo;we,&rdquo; &ldquo;us,&rdquo; or &ldquo;our&rdquo;).&nbsp;For purposes of this report, the term &ldquo;3TG&rdquo; means tantalum,
tin, tungsten, and gold.&nbsp;&nbsp;The information includes the activities of all majority-owned subsidiaries and variable interest
entities that are required to be consolidated. It does not include the activities of variable interest entities that are not required
to be consolidated.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36.75pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>Company Overview and Summary</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 8.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the calendar year ended December 31, 2025, the Company <FONT STYLE="background-color: white">engaged in the design, development, production,
delivery and support of a technologically advanced portfolio of </FONT></FONT><FONT STYLE="font-size: 10pt">integrated capabilities across
air, land, sea, space, and cyber <FONT STYLE="background-color: white">for government agencies and businesses</FONT>. <FONT STYLE="background-color: white">In
that year we </FONT>developed and deployed autonomous systems, precision strike systems, counter-UAS technologies, space-based platforms,
directed energy systems, and cyber and electronic warfare capabilities <FONT STYLE="background-color: white">and related services primarily
to organizations within the U.S. Department of Defense (&ldquo;DoD&rdquo;) and to international allied governments. </FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36.75pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
determined that 3TG were necessary to the functionality or production of products that we manufactured or contracted to be manufactured
during calendar year 2025.&nbsp; Therefore, we conducted a reasonable country of origin inquiry (&ldquo;RCOI&rdquo;) in good faith to
determine whether any of the 3TG in our products originated in the Democratic Republic of Congo (&ldquo;DRC&rdquo;) or an adjoining country
(collectively, the &ldquo;Covered Countries&rdquo;).&nbsp; Based on our RCOI, we have reason to believe that our products could contain
3TG that may have originated in the Covered Countries and, therefore, in accordance with the Rule, performed due diligence on the source
and chain of custody of the 3TG in question to determine whether our products are </FONT><FONT STYLE="font-size: 10pt">&ldquo;DRC Conflict
Free.&rdquo;&nbsp;Due to the size and complexity of our supply chain, and the many intermediaries between the smelters/refiners and our
direct suppliers, we are unable to definitively determine whether our necessary conflict minerals are &ldquo;DRC Conflict Free&rdquo;
as defined by the Rule. We designed our due diligence&nbsp;measures to conform, in all material respects, with the nationally recognized
due diligence framework in The Organisation for Economic Co-operation and Development (&ldquo;OECD&rdquo;) Due Diligence Guidance for
Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas and the related Supplements for gold and for tin, tantalum
and tungsten (the &ldquo;OECD Guidance&rdquo;).&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>Description of Company Products and
Programs</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">During the calendar
year ended December 31, 2025, the Company acquired BlueHalo Financing TopCo, LLC, a Delaware limited liability company (&ldquo;<U>BlueHalo</U>&rdquo;).
Due to the timing of the closing of the BlueHalo acquisition within 2025, this report excludes the suppliers to BlueHalo and its subsidiaries
as part of our RCOI.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Set forth below
is a summary of products that we manufactured or contracted to be manufactured during calendar year 2025, excluding those manufactured
or contracted to be manufactured by BlueHalo, that contain 3TG that are covered by this report:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Autonomous
Systems (AxS)</B></FONT><FONT STYLE="font-size: 10pt">&nbsp;- Our manufactured AxS products typically consist of multiple uncrewed aerial
and ground vehicles and precision strike systems. Uncrewed aerial payloads may include electro-optical and infrared sensors, and multiple
ground control stations. The precision strike systems may include man-portable tactical missile systems that each consist of a tube-launched
air vehicle, an explosive warhead, launch tube and a ground control station. Uncrewed ground vehicle payloads may include secure communications,
multi-axis manipulators and automatic tool exchange. Modular battery packs provide power to the uncrewed aerial and ground vehicles and
ground control stations.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>Design of Due Diligence </B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 18.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
designed our due diligence measures to conform, in all material respects, with the framework in the OECD Guidance.&nbsp;&nbsp;The OECD
Guidance identifies five steps for due diligence that should be implemented and provides guidance as to how to achieve each step.&nbsp;
We developed our due diligence process to address each of these five steps, namely</FONT><FONT STYLE="font-size: 10pt">:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 18.75pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Establishing
                                            strong company management systems regarding conflict minerals;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Identifying
                                            and assessing risks in our supply chain;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Designing
                                            and implementing a strategy to respond to identified risks in our supply chain;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Utilizing
                                            independent third-party audits of supply chain diligence; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Publicly
                                            reporting on our supply chain due diligence.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We are a downstream
supplier, many steps removed from the mining of 3TG. A large number of suppliers, through multiple tiers of distribution, supply the
components and materials integrated into our products.&nbsp;Furthermore, we do not purchase raw ore or unrefined conflict minerals or
make purchases from the Covered Countries.&nbsp;&nbsp;The origin of the conflict minerals cannot be determined with any certainty once
the raw ores are smelted, refined and converted to ingots, bullion or other conflict mineral containing derivatives.&nbsp;&nbsp;The smelters
and refiners consolidate raw ore and therefore are best placed to determine the origin of the ores they procure.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 40pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
OECD Guidance specifies that the requirements for compliance should reflect a company&rsquo;s position in the supply chain.&nbsp; In
particular, the OECD Guidance states that the implementation of due diligence should be tailored to a company&rsquo;s activities and
relationships and that the nature and extent of due diligence may vary based on a company&rsquo;s size, products, relationships with
suppliers and other factors.&nbsp; Due to practical difficulties associated with supply chain complexities, the OECD Guidance advises
that downstream companies exercise due diligence primarily by establishing controls over their immediate suppliers.&nbsp; Accordingly,
we rely primarily on our &ldquo;tier 1&rdquo; (direct) suppliers to provide information with respect to the origin of the conflict minerals
contained in the components and materials supplied to us</FONT><FONT STYLE="font-size: 10pt">.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 40pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt"><B><I>Management Systems</I></B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><I>Internal Compliance
Team</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 8.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36.75pt"><FONT STYLE="font-size: 10pt">We established
a cross-functional Conflict Mineral Compliance Team sponsored by Melissa Brown, Executive Vice President, Chief Legal Officer, comprising
representatives from our purchasing, subcontracts, legal and finance teams. Subject matter experts from relevant functions such as purchasing,
subcontracts and engineering support this Conflict Mineral Compliance Team.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36.75pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Conflict Minerals Compliance Team is responsible for implementing our conflict minerals compliance strategy. The Conflicts Mineral Compliance
Team briefs senior management about the results of our due diligence efforts on a periodic basis</FONT><FONT STYLE="font-size: 10pt">.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><I>Conflict Minerals
Policy</I></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We have adopted
a Conflict Minerals Policy articulating our 3TG supply chain diligence process and our commitment to our reporting obligations regarding
3TG. Our policy is available on our website at www.avinc.com.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-size: 10pt"><I>Other Management Systems</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36.75pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We have also implemented
the following management systems to support our 3TG compliance program:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 26.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">When
                                            entering into or renewing supplier contracts we add a clause to require suppliers to provide
                                            information about the source of 3TG and smelters.</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">We,
                                            through Assent, Inc. (&ldquo;Assent&rdquo;), (i)&nbsp;provide our suppliers with training
                                            on the Rule&nbsp;as well as our expectations regarding the responsible sourcing of conflict
                                            minerals, and (ii)&nbsp;leverage our existing communications with individual suppliers, specifically
                                            their procurement departments, to encourage their interactions with Assent as well as understand
                                            the requirement for completion. Feedback from this engagement allows us to enhance the training,
                                            focus and adapt it to each supplier&rsquo;s needs. It also allows for our supplier communications
                                            to be more focused and ensure expectations are clear.</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">We
                                            have multiple longstanding grievance mechanisms, including our Ethics and Compliance Hotline,
                                            whereby employees and suppliers can report violations of our policies, including with respect
                                            to conflict minerals.</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">We
                                            have implemented a document retention policy through Assent to retain conflict minerals related
                                            documents, including supplier responses to Conflict Minerals Reporting Template (&ldquo;CMRT&rdquo;)
                                            forms. We store all of the information and findings&nbsp;from&nbsp;this process in a database
                                            that can be audited by internal or external parties.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 8.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 8.5pt"><FONT STYLE="font-size: 10pt"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 8.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt"><B><I>Identify and assess
risk in the supply chain</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 8.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36.75pt"><FONT STYLE="font-size: 10pt">Because of our
size, the complexity of our products, and the depth, breadth, and constant evolution of our supply chain, it is difficult to identify
actors upstream from our direct suppliers. We rely on our direct suppliers to provide us with information about the source of conflict
minerals contained in the components supplied to us. Many of our direct suppliers are themselves reliant upon the information provided
by their suppliers, many of which are not subject to the Rule.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36.75pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36.75pt"><FONT STYLE="font-size: 10pt">Risks and Red
Flags are identified automatically in the Assent Compliance Manager system based on criteria established for supplier responses in the
system. Red Flag responses are addressed by Assent Compliance Supply Chain staff who contact the supplier, gather pertinent data and
perform an assessment of the supplier&rsquo;s conflict minerals status.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36.75pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt"><B><I>Design and Implement
a Strategy to Respond to Risks</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 8.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Together
with Assent, we have developed processes to assess and respond to the risks identified in our supply chain.&nbsp; The primary risk we
identified during our due diligence activities to date relates to the nature of the responses received from our suppliers and lack of
information about the smelters and refiners used for 3TG in the components supplied to AeroVironment.&nbsp; To address this risk, Assent
Compliance Supply Chain staff works with our suppliers to help them provide better and more accurate data on the source and country of
origin of 3TG in the products supplied to us.&nbsp; We are continuing to engage with our suppliers and offer them suggestions as to how
to effectively diligence their own supply chains and complete the CMRT form</FONT><FONT STYLE="font-size: 10pt">.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt"><B><I>Carry out Independent
Third-Party Audit of Supply Chain Due Diligence at Identified Points in the Supply Chain</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 8.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
do not have a direct relationship with any 3TG smelters or refiners and do not perform or direct audits of these entities within our
supply chain. </FONT><FONT STYLE="font-size: 10pt">Instead, we rely on third-party audits of smelters and refiners conducted as part
of the Responsible Minerals Initiative&rsquo;s (&ldquo;RMI&rdquo;), formerly the Conflict-Free Sourcing Initiative, Responsible Minerals
Assurance Process, which uses independent private sector auditors to audit the source, including the mines of origin, and the chain of
custody of the conflict minerals used by smelters and refiners that agree to participate in the program.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36.75pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt"><B><I>Public Reporting on
Supply Chain Due Diligence</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 8.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36.75pt"><FONT STYLE="font-size: 10pt">We have published
our Form&nbsp;SD for the year ended December&nbsp;31, 2025 and this report in the Suppliers section of our website at www.avinc.com.
Information found on or accessed through our website is not considered part of this report and is not incorporated by reference herein.
We have also publicly filed our Form&nbsp;SD and this report with the Securities and Exchange Commission.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36.75pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>Due Diligence Performed</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To
determine whether necessary 3TG in the products </FONT><FONT STYLE="font-size: 10pt">that we manufactured or contracted to be manufactured
during calendar year 2025 originated in Covered Countries, we retained Assent to assist us in reviewing our supply chain. We conducted
a survey of all our suppliers of components of our products, excluding those products manufactured or contracted to be manufactured by
BlueHalo. We decided not to further filter this list based on the necessity of the presence of 3TG in our products as we could not definitively
determine the presence or absence of 3TG in all parts supplied to us for our products.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36.75pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">During the supplier
survey, we contacted suppliers via the Assent Compliance Manager, a SaaS platform provided by Assent that enables its users to complete
and track supplier communications as well as allow suppliers to upload completed CMRT forms directly to the platform for red flag assessment
and management. Assent requested that suppliers complete the CMRT forms and included training and education on the completion of the
CMRT form in its mailing to suppliers. Assent monitored and tracked all of these communications in its system for future reporting and
transparency.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36.75pt"><FONT STYLE="font-size: 10pt">Assent periodically
informed the Company of the response rate of suppliers during the diligence process. Suppliers requesting additional information regarding
the form were encouraged to review informational materials prepared by Assent and to contact Assent with further questions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36.75pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36.75pt"><FONT STYLE="font-size: 10pt"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36.75pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
primary risk we identified with respect to the reporting period ended December&nbsp;31, 2025 related to the nature of the responses
received. </FONT><FONT STYLE="font-size: 10pt">Of the 137 suppliers of components of our products we surveyed, we received responses
(via the Assent Compliance Manager and directly from suppliers) from approximately 87.6% of the suppliers surveyed. Assent reviewed
the initial responses against criteria developed to determine which suppliers required further engagement based on the information
provided. These criteria included incomplete responses as well as inconsistencies within the data reported on the CMRT form. Assent
worked directly with these suppliers to attempt to obtain revised responses. Ultimately, less than approximately 2.5% of the
responses received contained an inconsistency or were deemed incomplete. Because some of our suppliers failed to respond and some
who did respond were unable to specify the smelters or refiners used for 3TG in the components supplied to us, we were unable to
determine all of the smelters or refiners in our supply chain<FONT STYLE="background-color: white">.</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36.75pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Assent compared
the list of smelters and refiners provided in our suppliers&rsquo; responses to the lists of valid smelters and refiners maintained by
Assent, as well as the latest publicly available Responsible Minerals Assurance Process (&ldquo;RMAP&rdquo;) smelter data. The RMAP is
RMI&rsquo;s audit program that uses an independent third-party assessment of smelter/refiner management systems and sourcing practices
to validate conformance with RMAP standards. Our suppliers identified a total of 337 smelters and refiners determined by Assent to be
legitimate smelters and refiners. Of these 337 smelters and refiners, 208 have been validated as conformant to RMAP standards and a further
9 have agreed to undergo or are currently undergoing an RMAP assessment. Some CMRTs we received were made on a company or division level
basis which did not allow us to identify which smelters or refiners listed by our suppliers actually processed the 3TG contained in our
products.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>Facilities, Country of Origin and
Mines</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-size: 10pt"><B><I>Efforts to
Determine Mine or Location of Origin</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 8.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
efforts to </FONT><FONT STYLE="font-size: 10pt">determine the mine or location of origin of the necessary conflict minerals contained
in our products include the due diligence efforts described in this report.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36.75pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-size: 10pt"><B><I>Facilities
Used to Process, and Country of Origin of, the Necessary Conflict Minerals in our Products</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 8.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Because
some of the CMRTs we received from our suppliers were made on a company or division level basis, rather than on a product-level basis,
we are not able to conclusively determine which smelters or refiners actually processed the 3TG contained in our products </FONT><FONT STYLE="font-size: 10pt">as
these facilities may have processed minerals for our suppliers&rsquo; other customers.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>Steps to be taken to mitigate risk</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 8.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27.5pt"><FONT STYLE="font-size: 10pt">We acknowledge
that, given the complexity of our global supply chain and the number of intermediaries between smelters/refiners and our direct suppliers,
there are inherent limitations on our ability to verify with certainty the origin of all necessary conflict minerals in our products.
Nonetheless, we intend to continue to take the following steps to improve the due diligence process conducted in the future to further
mitigate any risk that the necessary 3TG in our products could benefit armed groups in the Covered Countries:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 31.5pt"></TD><TD STYLE="font-size: 10pt; width: 22.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">a.</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Identify
                                            the products that we manufacture or contract to manufacture and request conflict mineral
                                            disclosures from the suppliers for such products.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 31.5pt"></TD><TD STYLE="font-size: 10pt; width: 22.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">b.</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Include
                                            a responsible minerals clause with Conflict Minerals provisions in relevant new or renewed
                                            supplier agreements.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 31.5pt"></TD><TD STYLE="font-size: 10pt; width: 22.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">c.</FONT></TD><TD STYLE="text-align: left; font-size: 10pt"><FONT STYLE="font-size: 10pt">Continue
                                            to engage with our suppliers, including those of our acquired companies, more closely and
                                            provide such suppliers with more information and training resources regarding responsible
                                            sourcing of 3TG.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 31.5pt"></TD><TD STYLE="font-size: 10pt; width: 22.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">d.</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Encourage
                                            our suppliers to have due diligence procedures in place for their supply chains to improve
                                            the content of the responses from such suppliers.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 31.5pt"></TD><TD STYLE="font-size: 10pt; width: 22.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">e.</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">As
                                            we continue to expand our business through organic growth and acquisitions, we remain committed
                                            to extending our conflict minerals due diligence program across our integrated operations.
                                            We will continue to assess and enhance our program to address evolving supply chain complexities
                                            and regulatory expectations.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><FONT STYLE="font-size: 10pt"></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">Forward Looking
Statements</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Statements in this Form SD and the Conflict
Minerals Report included as Exhibit 1.01 may include forward-looking statements. Words such as &ldquo;intend,&rdquo; &ldquo;continue,&rdquo;
 &ldquo;expect,&rdquo; &ldquo;will,&rdquo; &ldquo;may,&rdquo; &ldquo;could,&rdquo; &ldquo;believe,&rdquo; &ldquo;plan,&rdquo; &ldquo;anticipate,&rdquo;
and similar expressions generally identify these forward-looking statements. Forward-looking statements include, among other things,
statements relating to our future supply chain management practices, intended improvement efforts to mitigate risk, our plans to engage
with suppliers, efforts to improve our due diligence processes, and plans to extend our conflict minerals program across our integrated
operations including acquired companies. Forward-looking statements are based upon assumptions, expectations, plans and projections that
we believe to be reasonable when made, but which may change over time. These statements are not guarantees of future performance and
inherently involve a wide range of risks and uncertainties that are difficult to predict, including the completeness and accuracy of
information provided by third-party suppliers, changes in our supply chain, future acquisitions, evolving regulatory guidance, and the
inherent limitations on tracing conflict minerals through complex multi-tier supply chains. We undertake no obligation to publicly update
or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable
law.</FONT></P>

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

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