<SEC-DOCUMENT>0001437749-20-012048.txt : 20200529
<SEC-HEADER>0001437749-20-012048.hdr.sgml : 20200529
<ACCEPTANCE-DATETIME>20200529160431
ACCESSION NUMBER:		0001437749-20-012048
CONFORMED SUBMISSION TYPE:	SD
PUBLIC DOCUMENT COUNT:		4
<RULE>
<RULE-NAME>13p-1
<ITEM>
<ITEM-NUMBER>1.01
<ITEM-PERIOD>20191231
</ITEM>
<ITEM>
<ITEM-NUMBER>1.02
<ITEM-PERIOD>20191231
</ITEM>
</RULE>
FILED AS OF DATE:		20200529
DATE AS OF CHANGE:		20200529

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GENERAC HOLDINGS INC.
		CENTRAL INDEX KEY:			0001474735
		STANDARD INDUSTRIAL CLASSIFICATION:	MOTORS & GENERATORS [3621]
		IRS NUMBER:				205654756
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SD
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34627
		FILM NUMBER:		20927620

	BUSINESS ADDRESS:	
		STREET 1:		S45 W29290 HIGHWAY 59
		CITY:			WAUKESHA
		STATE:			WI
		ZIP:			53187
		BUSINESS PHONE:		888 436-3722

	MAIL ADDRESS:	
		STREET 1:		S45 W29290 HIGHWAY 59
		CITY:			WAUKESHA
		STATE:			WI
		ZIP:			53187
</SEC-HEADER>
<DOCUMENT>
<TYPE>SD
<SEQUENCE>1
<FILENAME>gnrc20200529_sd.htm
<DESCRIPTION>FORM SD
<TEXT>
<html><head>
	<title>gnrc20200529_sd.htm</title>

	<!-- Generated by ThunderDome Portal - 5/29/2020 3:15:59 PM --><meta charset="utf-8"><meta name="format-detection" content="telephone=no">
</head>
<body style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; padding:0in .1in;">
<p style="font-family:'Times New Roman', Times, serif;font-size:18pt;margin:0pt;text-align:center;"><b>UNITED STATES<br>
SECURITIES AND EXCHANGE COMMISSION</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:18pt;margin:0pt;text-align:center;"><b>Washington, D.C. 20549</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>FORM SD</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Specialized Disclosure Report</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:12pt;margin:0pt;text-align:center;"><b>Generac Holdings Inc.</b></p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">(Exact name of registrant as specified in its charter)</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;text-indent:0;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="vertical-align:top;width:32%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Delaware</b></p>
			</td>
			<td style="vertical-align:bottom;width:2%;">&nbsp;</td>
			<td style="vertical-align:top;width:32%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>001-34627</b></p>
			</td>
			<td style="vertical-align:bottom;width:2%;">&nbsp;</td>
			<td style="vertical-align:top;width:32%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>20-5654756</b></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:32%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">(State or other jurisdiction</p>
			</td>
			<td style="vertical-align:bottom;width:2%;">&nbsp;</td>
			<td style="vertical-align:top;width:32%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">(Commission</p>
			</td>
			<td style="vertical-align:bottom;width:2%;">&nbsp;</td>
			<td style="vertical-align:top;width:32%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">(IRS Employer</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:32%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">of incorporation)</p>
			</td>
			<td style="vertical-align:bottom;width:2%;">&nbsp;</td>
			<td style="vertical-align:top;width:32%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">File Number)</p>
			</td>
			<td style="vertical-align:bottom;width:2%;">&nbsp;</td>
			<td style="vertical-align:top;width:32%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Identification No.)</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;text-indent:0;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="vertical-align:top;width:48.5%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>S45 W29290 Hwy. 59</b></p>
			</td>
			<td style="vertical-align:bottom;width:2.9%;">&nbsp;</td>
			<td style="vertical-align:top;width:48.5%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:48.5%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Waukesha, Wisconsin</b></p>
			</td>
			<td style="vertical-align:bottom;width:2.9%;">&nbsp;</td>
			<td style="vertical-align:top;width:48.5%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>53189</b></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:48.5%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">(Address of principal executive offices)</p>
			</td>
			<td style="vertical-align:bottom;width:2.9%;">&nbsp;</td>
			<td style="vertical-align:top;width:48.5%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">(Zip Code)</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Raj Kanuru</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Executive </b><b>Vice President, General Counsel &amp; Secretary</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>(262) 544-4811</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>(Name and telephone, including area code, of the person to contact in connection with this report). </b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Check the appropriate box to indicate the rule pursuant to which this form is being filed, and provide the period to which the information in this form applies:</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:18pt;">&nbsp;</td>
			<td style="width:18pt;vertical-align:top;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; margin: 0pt; text-align: justify; font-size: 10pt;">&#9745;</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; margin: 0pt; text-align: justify; font-size: 10pt;">Rule 13p-1 under the Securities Exchange Act of 1934 (17 CFR 240.13p-1) for the reporting period from January 1 to December 31, 2019.</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<div class="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div class="PGFTR" style="text-align: center; width: 100%">
<div class="hf-row">
<div class="hf-cell PGNUM">&nbsp;</div>
</div>
</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div class="PGHDR" style="text-align: left; width: 100%">
<div class="hf-row">
<div class="hf-cell TOCLink">&nbsp;</div>
</div>
</div>
</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Section 1 &#8211; Conflict Minerals Disclosure</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Item 1.01 Conflict Minerals Disclosure and Report</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Conflict Minerals Disclosure</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Generac Holdings Inc. has filed a Conflict Minerals Report for the year ended December 31, 2019 with the Securities and Exchange Commission. A copy of our Conflict Minerals Report is provided as Exhibit 1.01 to this report. It is also publicly available in the investor relations section of our website under SEC Filings at www.Generac.com. Information on our web site shall not be deemed incorporated into, or to be a part of, this report.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Item 1.0</b><b>2</b><b> Exhibit</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">See Exhibit 1.01 filed with this Report.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Section 2 - Exhibits</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Item 2.01 Exhibits</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><a href="ex_188492.htm" style="-sec-extract:exhibit;">Exhibit 1.01 &#8211; Conflict Minerals Report as required by Items 1.01 and 1.02 of this Form.</a></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<div class="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div class="PGFTR" style="text-align: center; width: 100%">
<div class="hf-row">
<div class="hf-cell PGNUM">&nbsp;</div>
</div>
</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div class="PGHDR" style="text-align: left; width: 100%">
<div class="hf-row">
<div class="hf-cell TOCLink">&nbsp;</div>
</div>
</div>
</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>SIGNATURE</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the duly authorized undersigned.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Date: May 29, 2020</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:12pt;margin-bottom:0pt;margin-left:180pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:36pt;">Generac Holdings Inc.</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:180pt;margin-right:0pt;margin-top:0pt;text-align:justify;text-indent:36pt;">By: <img src="gnrc20200529_sdimg001.gif" style="width: 140pt; height: 44pt;"></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:180pt;margin-right:0pt;margin-top:0pt;text-align:justify;text-indent:36pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:216pt;margin-right:0pt;margin-top:0pt;text-align:justify;">Name: Raj Kanuru</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:216pt;margin-right:0pt;margin-top:0pt;text-align:justify;">Title: Executive Vice President, General Counsel &amp; Secretary</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:0pt;margin-top:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:0pt;margin-top:0pt;text-align:justify;">&nbsp;</p>

<div class="LAST-PAGE-BREAK">
<div class="PGFTR">
<div class="hf-row">
<div class="hf-cell PGNUM">&nbsp;</div>
</div>
</div>
</div>


</body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1.01
<SEQUENCE>2
<FILENAME>ex_188492.htm
<DESCRIPTION>EXHIBIT 1.01
<TEXT>
<html><head>
	<title>ex_188492.htm</title>

	<!-- Generated by ThunderDome Portal - 5/29/2020 3:18:15 PM --><meta charset="utf-8"><meta name="format-detection" content="telephone=no">
</head>
<body style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding: 0in 0.1in; cursor: auto;">
<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin: 0pt; text-align: right;"><b>Exhibit 1.0</b><b>1</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Conflict Minerals Report</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Of</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Generac Holdings Inc.</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>For the Year Ended December 31, 201</b><b>9</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:0pt;margin-top:0pt;text-align:justify;text-indent:-36pt;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:0pt;margin-top:0pt;text-align:justify;text-indent:-36pt;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:0pt;margin-top:0pt;text-align:justify;text-indent:-36pt;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:0pt;margin-top:0pt;text-align:justify;text-indent:-36pt;"><b>Overview</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">Generac Holdings Inc. (the &#8220;company,&#8221; &#8220;Generac,&#8221; &#8220;we,&#8221; or &#8220;our&#8221;) has filed this report in accordance with Rule 13p-1 under the Securities Exchange Act of 1934, as amended Rule 13p-1 (&#8220;Report&#8221;). Rule 13p-1 was adopted by the Securities and Exchange Commission (the &#8220;SEC&#8221;) to implement reporting and disclosure requirements mandated by Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. Rule 13p-1 imposes reporting obligations on public companies, including us, whose manufactured final products contain one or more conflict minerals that are necessary to the functionality or production of those products. For purposes of the Rule and the related disclosures, the term &#8220;Conflict Minerals&#8221; is defined to include cassiterite, columbite-tantalite, gold, wolframite, and their derivatives, which are limited to tin, tantalum, tungsten, and gold and are referred to in this report as &#8220;3TG.&#8221;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">Generac is a leading global designer and manufacturer of energy technology solutions and other power products. Generac uses 3TG in some of our products and has undertaken to investigate their origins. As described more fully below, we examined our products for the presence of 3TG and investigated the origins of the 3TG found to be present in identified items. We also conducted a survey of our suppliers for the reporting period ending December 31, 2019 (the &#8220;Reporting Period&#8221;). Our standard supplier agreement requires compliance with the content of our Conflict Mineral Policy and applicable laws.</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Reasonable Country of Origin Inquiry</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">We determined after review that 3TG may be contained in certain of our products manufactured or contracted for manufacture during the Reporting Period. Because of this determination, we conducted in good faith a reasonable country of origin inquiry regarding those minerals, which was reasonably designed to determine whether any of the 3TG in our products originated in the Democratic Republic of the Congo or any adjoining country (a &#8220;Covered Country&#8221;).</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">We identified certain suppliers that potentially supplied us with products that contained 3TG and worked with a third-party vendor to assist with data collection and reporting. Our suppliers were asked to complete the Conflict Minerals Reporting Template (&#8220;CMRT&#8221;) and based on the responses received, we determined that certain of our products contained 3TG that may have originated in a Covered Country. Accordingly, we performed due diligence in an effort to determine the source of these necessary conflict minerals.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<div class="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div class="PGFTR" style="text-align: center; width: 100%">
<div class="hf-row">
<div class="hf-cell PGNUM">&nbsp;</div>
</div>
</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div class="PGHDR" style="text-align: left; width: 100%">
<div class="hf-row">
<div class="hf-cell TOCLink">&nbsp;</div>
</div>
</div>
</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Due Diligence Performed</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">Our due diligence framework was designed to be consistent with the Organization for Economic Co-operation and Development (&#8220;OECD&#8221;) <i>OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conf</i><i>lict-Affected and High-Risk Areas</i>. The due diligence measures we performed are presented below according to the five (5) step framework established by the OECD.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><u><b>Step 1. Establish Strong Company Management Systems</b></u></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><i>&nbsp;</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><i>Conflict Minerals Policy</i><i> (&#8220;Policy&#8221;)</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Generac has adopted a Policy related to our sourcing of 3TG which is available to the public in the Investor Relations, Corporate Governance Highlights of our website at www.Generac.com.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><i>&nbsp;</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><i>Internal Team</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Generac has established a management system to support supply chain due diligence related to 3TG. Our management system includes a Conflict Mineral Steering Committee consisting of a cross-functional senior management team from global trade compliance, supply chain, financial reporting, and legal. Our team is responsible for implementing our conflict minerals program and is led by our Executive Vice President, Strategic Global Sourcing.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><i>&nbsp;</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><i>Control Systems</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">We relied on our direct suppliers to provide information on the origin of any 3TG contained in items that they supply to us &#8212; including any 3TG supplied to them from lower tier suppliers and the origin of the smelters involved in the refining of the material.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><i>Grievance Mechanism</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Our Corporate Governance Helpline acted as our grievance mechanism whereby employees and suppliers could report violations of our <i>Code of Ethics and Business Conduct</i><i> (&#8220;Code&#8221;)</i>. Our <i>Code</i> was, and remains, available on our website in the Investor Relations, Corporate Governance Highlights section of our website at www.Generac.com.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><u><b>Step 2. Identify and Assess Risks in the Supply Chain</b></u></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">We conducted our supplier survey pursuant to the following steps:</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:18pt;">&nbsp;</td>
			<td style="width:18pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">1.</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">Developed a relevant corporate supplier list.</p>
			</td>
		</tr>

</table>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:18pt;">&nbsp;</td>
			<td style="width:18pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">2.</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">Engaged a third party vendor to assist with data collection and reporting.</p>
			</td>
		</tr>

</table>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:18pt;">&nbsp;</td>
			<td style="width:18pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">3.</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">Provided suppliers with a copy of our survey and instructed them to submit their response within the allotted time period.</p>
			</td>
		</tr>

</table>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:18pt;">&nbsp;</td>
			<td style="width:18pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">4.</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">Those suppliers who did not respond to the initial inquiry were sent multiple rounds of surveys requesting their response.</p>
			</td>
		</tr>

</table>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<div class="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div class="PGFTR" style="text-align: center; width: 100%">
<div class="hf-row">
<div class="hf-cell PGNUM">&nbsp;</div>
</div>
</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div class="PGHDR" style="text-align: left; width: 100%">
<div class="hf-row">
<div class="hf-cell TOCLink">&nbsp;</div>
</div>
</div>
</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><u><b>Step 3. </b></u><u><b>Design and Implement a Strategy to Respond to </b></u><u><b>Identified </b></u><u><b>Risks</b></u></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:18pt;">&nbsp;</td>
			<td style="width:18pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">&#9679;</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">The responses were reviewed by the Company for completeness and consistency of answers. The Company requested suppliers to provide corrections and clarifications where needed.</p>
			</td>
		</tr>

</table>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:18pt;">&nbsp;</td>
			<td style="width:18pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">&#9679;</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">Senior management was briefed about our due diligence efforts and findings along with the Audit Committee of our Board of Directors.</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><u><b>Step 4. Independen</b></u><u><b>t Third-Party Audit</b></u><u><b> </b></u></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The Securities and Exchange Commission has provided guidance that only companies who elect to claim their products are "Conflict Free" are subject to an independent private sector audit. The Company is not making such claim based on the responses received by the Company from its suppliers. Consequently, this report was not audited.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><u><b>Step 5. Report Annually on Supply Chain Due Diligence</b></u></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">This Report constitutes our annual report on our 3TG due diligence and is available on our website at www.Generac.com/investorrelations, under SEC Filings and is filed with the SEC.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Results of Review </b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">As described above, we conducted due diligence to determine the source of the 3TG used in our products. As part of that process, we requested that our suppliers disclose the smelters that processed the necessary 3TG in the products they supplied to us. Of those suppliers who responded, we were able to identify a total of 113 smelters that may have processed the necessary 3TG contained in their materials or products. Our third party vendor was able to determine that, as of May 8, 2020, 113 of those smelters were deemed to be &#8220;RMI Conformant,&#8221; by which we mean that they complied with the Responsible Minerals Assurance Process due diligence assessment protocols or an equivalent cross-recognized assessment.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Expected Future Actions</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">We have taken, and intend to take, the following steps to mitigate the risk that Conflict Minerals contained in our products could benefit armed groups in the DRC.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:18pt;">&nbsp;</td>
			<td style="width:18pt;vertical-align:top;">
			<div><img alt="" src="arrow.jpg"></div>
			</td>
			<td style="vertical-align: middle;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">Engage with suppliers and, as necessary, improve the content of the supplier survey responses.</p>
			</td>
		</tr>

</table>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:18pt;">&nbsp;</td>
			<td style="width:18pt;vertical-align:top;">
			<div><img alt="" src="arrow.jpg"></div>
			</td>
			<td style="vertical-align: middle;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; margin: 0pt; text-align: justify; font-size: 10pt;">Continue assessing and responding to supply chain risks.</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;text-indent:0;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="vertical-align:middle;width:100%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: bottom; border-width: thin thin 1px; border-bottom-style: initial; border-color: rgb(0, 0, 0); width: 100%; border-top-style: solid; border-right-style: solid; border-left-style: solid;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Caution Concerning Forward-Looking Statements</b></p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); width: 100%; border-left: thin solid rgb(0, 0, 0); border-right: thin solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Certain statements in this report may be &#8220;forward-looking&#8221; within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as &#8220;intend(s),&#8221; &#8220;expects,&#8221; &#8220;plans,&#8221; &#8220;believes,&#8221; &#8220;estimates,&#8221; &#8220;anticipates,&#8221; and similar expressions are used to identify these forward-looking statements. Examples of forward-looking statements include statements relating to our future plans, and any other statement that does not directly relate to any historical or current fact. Forward-looking statements are based on our current expectations and assumptions, which may not prove to be accurate. These statements are not guarantees and are subject to risks, uncertainties and changes in circumstances that are difficult to predict. Actual outcomes and results may differ materially from these forward-looking statements. As a result, these statements speak only as of the date they are made and we undertake no obligation to update or revise any forward-looking statement, except as required by federal securities laws.</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:0pt;margin-top:0pt;text-align:justify;">&nbsp;</p>

<div class="LAST-PAGE-BREAK">
<div class="PGFTR">
<div class="hf-row">
<div class="hf-cell PGNUM">&nbsp;</div>
</div>
</div>
</div>


</body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>arrow.jpg
<TEXT>
begin 644 arrow.jpg
M_]C_X  02D9)1@ ! @$ 2 !(  #_[01F4&AO=&]S:&]P(#,N,  X0DE- ^T
M     !  2     $  0!(     0 !.$))300-       $    >#A"24T#\P
M    "           .$))300*       !   X0DE-)Q        H  0
M   ".$))30/U      !( "]F9@ ! &QF9@ &       ! "]F9@ ! *&9F@ &
M       ! #(    ! %H    &       ! #4    ! "T    &       !.$))
M30/X      !P  #_____________________________ ^@     ________
M_____________________P/H     /____________________________\#
MZ     #_____________________________ ^@  #A"24T$         @ !
M.$))300"       $     #A"24T$"       $     $   )    "0      X
M0DE-!!0       0    ".$))300,      *W     0   !\    :    8
M"<    *; !@  ?_8_^  $$I&248  0(! $@ 2   _^X #D%D;V)E &2
M ?_; (0 # @(" D(# D)#!$+"@L1%0\,# \5&!,3%1,3&!$,# P,# P1# P,
M# P,# P,# P,# P,# P,# P,# P,# P,# $-"PL-#@T0#@X0% X.#A04#@X.
M#A01# P,# P1$0P,# P,#!$,# P,# P,# P,# P,# P,# P,# P,# P,# P,
M_\  $0@ &@ ? P$B  (1 0,1 ?_=  0  O_$ 3\   $% 0$! 0$!
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MU.3TI;7%U>7U5F9VAI:FML;6YO8G-T=79W>'EZ>WQ__:  P# 0 "$0,1 #\
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M14,@<U)'0@                  ]M8  0    #3+4A0("
M                                                 !%C<')T   !
M4    #-D97-C   !A    &QW='!T   !\    !1B:W!T   "!    !1R6%E:
M   "&    !1G6%E:   "+    !1B6%E:   "0    !1D;6YD   "5    '!D
M;61D   "Q    (AV=65D   #3    (9V:65W   #U    "1L=6UI   #^
M !1M96%S   $#    "1T96-H   $,     QR5%)#   $/   " QG5%)#   $
M/   " QB5%)#   $/   " QT97AT     $-O<'ER:6=H=" H8RD@,3DY."!(
M97=L971T+5!A8VMA<F0@0V]M<&%N>0  9&5S8P         2<U)'0B!)14,V
M,3DV-BTR+C$              !)S4D="($E%0S8Q.38V+3(N,0
M                                                        6%E:
M(        /-1  $    !%LQ865H@                     %A96B
M  !OH@  ./4   .06%E:(        &*9  "WA0  &-I865H@        )*
M  ^$  "VSV1E<V,         %DE%0R!H='1P.B\O=W=W+FEE8RYC:
M        %DE%0R!H='1P.B\O=W=W+FEE8RYC:
M                                      !D97-C         "Y)14,@
M-C$Y-C8M,BXQ($1E9F%U;'0@4D="(&-O;&]U<B!S<&%C92 M('-21T(
M         "Y)14,@-C$Y-C8M,BXQ($1E9F%U;'0@4D="(&-O;&]U<B!S<&%C
M92 M('-21T(                             9&5S8P         L4F5F
M97)E;F-E(%9I97=I;F<@0V]N9&ET:6]N(&EN($E%0S8Q.38V+3(N,0
M        +%)E9F5R96YC92!6:65W:6YG($-O;F1I=&EO;B!I;B!)14,V,3DV
M-BTR+C$                                  '9I97<      !.D_@ 4
M7RX $,\4  /MS  $$PL  UR>     5A96B       $P)5@!0    5Q_G;65A
M<P         !                         H\    "<VEG(     !#4E0@
M8W5R=@        0     !0 *  \ %  9 !X (P H "T ,@ W #L 0 !% $H
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M;?;[]XKX&?BH^3CYQ_I7^N?[=_P'_)C]*?VZ_DO^W/]M____[@ .061O8F4
M9$     !_]L A  ! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! @(" @(" @(" @(# P,# P,# P,# 0$! 0$! 0$! 0$" @$"
M @,# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,#
M P,# P/_P  1"  : !\# 1$  A$! Q$!_]T !  $_\0!H@    8" P$
M        !P@&!00) PH" 0 + 0  !@,! 0$            &!00#!P(( 0D
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1]U[W[KW7O?NO=>]^Z]U__]D!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>gnrc20200529_sdimg001.gif
<TEXT>
begin 644 gnrc20200529_sdimg001.gif
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MS#.J_S/5 #/5,S/59C/5F3/5S#/5_S/_ #/_,S/_9C/_F3/_S#/__V8  &8
M,V8 9F8 F68 S&8 _V8K &8K,V8K9F8KF68KS&8K_V95 &95,V959F95F695
MS&95_V:  &: ,V: 9F: F6: S&: _V:J &:J,V:J9F:JF6:JS&:J_V;5 &;5
M,V;59F;5F6;5S&;5_V;_ &;_,V;_9F;_F6;_S&;__YD  )D ,YD 9ID F9D
MS)D _YDK )DK,YDK9IDKF9DKS)DK_YE5 )E5,YE59IE5F9E5S)E5_YF  )F
M,YF 9IF F9F S)F _YFJ )FJ,YFJ9IFJF9FJS)FJ_YG5 )G5,YG59IG5F9G5
MS)G5_YG_ )G_,YG_9IG_F9G_S)G__\P  ,P ,\P 9LP F<P S,P _\PK ,PK
M,\PK9LPKF<PKS,PK_\Q5 ,Q5,\Q59LQ5F<Q5S,Q5_\R  ,R ,\R 9LR F<R
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8)4I9VO*6N,RE+G?)RU[Z\I? -%)    [

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