<SEC-DOCUMENT>0001437749-22-013919.txt : 20220531
<SEC-HEADER>0001437749-22-013919.hdr.sgml : 20220531
<ACCEPTANCE-DATETIME>20220531163443
ACCESSION NUMBER:		0001437749-22-013919
CONFORMED SUBMISSION TYPE:	SD
PUBLIC DOCUMENT COUNT:		2
<RULE>
<RULE-NAME>13p-1
<ITEM>
<ITEM-NUMBER>1.01
<ITEM-PERIOD>20211231
</ITEM>
<ITEM>
<ITEM-NUMBER>1.02
<ITEM-PERIOD>20211231
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</RULE>
FILED AS OF DATE:		20220531
DATE AS OF CHANGE:		20220531

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BEL FUSE INC /NJ
		CENTRAL INDEX KEY:			0000729580
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRONIC COILS, TRANSFORMERS & OTHER INDUCTORS [3677]
		IRS NUMBER:				221463699
		STATE OF INCORPORATION:			NJ
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SD
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-11676
		FILM NUMBER:		22983899

	BUSINESS ADDRESS:	
		STREET 1:		206 VAN VORST ST.
		CITY:			JERSEY CITY
		STATE:			NJ
		ZIP:			07302
		BUSINESS PHONE:		2014320463

	MAIL ADDRESS:	
		STREET 1:		206 VAN VORST ST.
		CITY:			JERSEY CITY
		STATE:			NJ
		ZIP:			07302
</SEC-HEADER>
<DOCUMENT>
<TYPE>SD
<SEQUENCE>1
<FILENAME>belfb20220523_sd.htm
<DESCRIPTION>FORM SD
<TEXT>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 43.2pt;text-align:center;"><b>UNITED STATES</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 43.2pt;text-align:center;"><b>SECURITIES AND EXCHANGE COMMISSION</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 43.2pt;text-align:center;"><b>Washington, D.C. 20549</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 43.2pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 43.2pt;text-align:center;"><b>FORM SD</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 43.2pt;text-align:center;"><b>Specialized Disclosure Report</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 43.2pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 43.2pt;text-align:center;"><b>BEL FUSE INC.</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 43.2pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 43.2pt;text-align:center;">(Exact name of registrant as specified in its charter)</p>

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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">New Jersey</p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">000-11676</p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">(State&nbsp;of&nbsp; incorporation)</p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">(Commission File Number)</p>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 43.2pt;text-align:justify;">&nbsp;</p>

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<table cellpadding="0pt" cellspacing="0pt" style="width: 60%; text-indent: 0px; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 20%; margin-right: 20%;">

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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">206 Van Vorst Street, Jersey City, New Jersey</p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">07302</p>
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			<td style="vertical-align: top; width: 65.6%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">(Address of principal executive offices)</p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">(Zip Code)</p>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 43.2pt;text-align:justify;">&nbsp;</p>

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

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">(201) 432-0463</p>
			</td>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">(Name and telephone number, including area code, of the person to contact in connection with this report)</p>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 43.2pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:justify;">Check the appropriate box to indicate the rule pursuant to which this form is being filed:</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 43.2pt;text-align:justify;">&nbsp;</p>

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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
			<td style="vertical-align:top;width:3%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&#9745;</p>
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			<td style="vertical-align:top;width:96.1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Rule 13p-1 under the Securities Exchange Act (17 CFR 240.13p-1) for the reporting period from January 1 to December 31, 2021.</p>
			</td>
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			<td style="vertical-align:top;width:0.9%;">&nbsp;</td>
			<td style="vertical-align:top;width:3%;">&nbsp;</td>
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			<td style="vertical-align:top;width:0.9%;">&nbsp;</td>
			<td style="vertical-align:top;width:3%;">&#9744;</td>
			<td style="vertical-align:top;width:96.1%;">Rule 13q-1 under the Securities Exchange Act (17 CFR 240.13q-1) for the fiscal year ended _______________.</td>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;">&nbsp;</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;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:0pt 7.2pt;text-align:left;">&nbsp;</p>

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<div class="hf-cell PGNUM">&nbsp;</div>
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<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 7.2pt;text-align:left;"><b>Section 1 &#8211; Conflict Minerals Disclosure</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:justify;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;"><i><b>Item 1.01 Conflict Minerals Disclosure and Report</b></i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:justify;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;"><i>Conflict Minerals Disclosure</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:justify;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;">The Conflict Minerals Report for the calendar year ended December 31, 2021&nbsp;filed herewith as Exhibit 1.01, is publicly available at www.belfuse.com.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:justify;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;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:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;"><i><b>Item 1.02 Exhibit</b></i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:justify;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;">As specified in Section 3, Item 3.01 of this Form SD, the Company is hereby filing its Conflict Minerals Report as Exhibit 1.01 to this report.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:justify;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:justify;"><b>Section 3&nbsp;&#8211; Exhibits</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:justify;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;"><i><b>Item 3.01 Exhibits</b></i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:justify;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;">The following exhibit is filed as part of this report.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:justify;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;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:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;"><b>Exhibit No.</b><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b><b>Description</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:justify;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;">Exhibit 1.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <a href="ex_379088.htm" style="-sec-extract:exhibit;">Conflict Minerals Report of Bel Fuse Inc.</a></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:justify;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:justify;"><b>&nbsp;</b></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 7.2pt;text-align:left;">&nbsp;</p>

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

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<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 7.2pt;text-align:center;"><b>SIGNATURES</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:justify;text-indent:36pt;">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-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:justify;">&nbsp;</p>

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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Date:&nbsp; May 31, 2022</p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;BEL FUSE INC.</p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;(Registrant)</p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:right;">By:&nbsp;&nbsp;</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:52%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;/s/ Farouq Tuweiq</p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Farouq Tuweiq</p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Chief Financial Officer&nbsp;<i>(Principal Financial Officer)</i></p>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:center;"><b>EXHIBIT INDEX</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:justify;"><b>Exhibit No.</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>Description</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:justify;">Exhibit 1.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Conflict Minerals Report of Bel Fuse Inc.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:79.2pt;margin-top:0pt;text-align:right;"><b>Exhibit 1.01</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:right;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:79.2pt;margin-top:0pt;text-align:center;"><b>Bel Fuse Inc.</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:79.2pt;margin-top:0pt;text-align:center;"><b>Conflict Minerals Report</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:79.2pt;margin-top:0pt;text-align:center;"><b>For the reporting period from January 1, 2021&nbsp;to December 31, 2021</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:right;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;">This Conflict Minerals Report (the "Report") of Bel Fuse Inc. (referred to in this Report as the "Company," "Bel," "we," "us," or "our") for the reporting period from January 1, 2021&nbsp;to December 31, 2021&nbsp;(the "Reporting Period") has been prepared pursuant to Rule 13p-1 and Form SD (the "Rule") promulgated under the Securities Exchange Act of 1934, as amended (the "Exchange Act").&nbsp; The Rule was adopted by the Securities and Exchange Commission ("SEC") to implement reporting and disclosure requirements related to minerals specified in the Rule as directed by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the "Dodd-Frank Act").&nbsp; The Rule imposes certain reporting obligations on registrants who file reports with the SEC under Sections 13(a) or 15(d) of the Exchange Act whose manufactured products contain minerals specified in the Rule that are necessary to the functionality or production of their products.&nbsp; The specified minerals, which are collectively referred to in this Report as the "Conflict Minerals," are defined as cassiterite, columbite-tantalite (coltan), gold, wolframite, and their derivatives, which are limited to tin, tantalum and tungsten unless the Secretary of State determines that additional derivatives are financing conflict in one of the covered countries described below, or any other mineral or its derivatives determined by the Secretary of State to be financing conflict in one of the covered countries described below.&nbsp; These requirements apply to registrants regardless of the geographic origin of the Conflict Minerals and whether or not they fund armed conflict.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:right;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;">If a registrant can establish that the Conflict Minerals originated from sources other than the Democratic Republic of the Congo ("DRC") or an adjoining country, specifically, Angola, Burundi, Central African Republic, the Republic of Congo, Rwanda, South Sudan, Tanzania, Uganda and Zambia (collectively, together with the DRC, the "Covered Countries"), or from recycled and scrap sources, they must submit a Form SD which describes the reasonable country of origin inquiry completed.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:right;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;">If a registrant has reason to believe that any of the Conflict Minerals in their supply chain may have originated in the Covered Countries, or if they are unable to determine the country of origin of those Conflict Minerals, then the registrant must exercise due diligence on the Conflict Minerals' source and chain of custody.</p>

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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>1.</b></p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Company Overview</b></p>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:right;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;"><b>1.1</b><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b><b>Description of the Products Covered by this Report</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:right;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;">This Report has been prepared by the management of Bel.&nbsp; The content of this Report includes the activities of all majority-owned subsidiaries that are required to be consolidated in our financial statements.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:right;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;">Bel designs, manufactures and markets a broad array of products that power, protect and connect electronic circuits.&nbsp; These products are primarily used in the military, commercial aerospace, networking, telecommunications, computing, high-speed data transmission, transportation and e-Mobility industries.&nbsp; Bel's portfolio of products also finds application in the automotive, medical, broadcasting and consumer electronics markets.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;">Bel's principal executive offices are located at 206 Van Vorst Street, Jersey City, New Jersey 07302.&nbsp; The Company operates other facilities in North America, Europe and Asia.&nbsp; At December 31, 2021, the Company had&nbsp; 6,304&nbsp;full-time associates.&nbsp; At December 31, 2021, the Company employed 1,456 people at its North American facilities, 3,990 people at its Asian facilities and 858 people at its European facilities, excluding approximately 1,080 workers supplied by independent contractors.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:left;"><b>1.2</b><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b><b>Products Overview</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:left;">The following is a description of the Company's product groups as of December 31, 2021:</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:left;"><u>Power Solutions and</u>&nbsp;<u>Protection</u></p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 9pt;">Bel's power conversion products include internal and external AC/DC power supplies, DC/DC converters and DC/AC inverters. These products provide power conversion solutions for a number of Industrial, Networking and Consumer applications.&nbsp; Bel circuit protection products include board level fuses (miniature, micro and surface mount), and Polymeric PTC (Positive Temperature Coefficient) devices, designed for the global electronic and telecommunication markets.</p>

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			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Product Line</b></p>
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			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Function</b></p>
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			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Applications</b></p>
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			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Brands Sold Under</b></p>
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			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Power</b></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Solutions</b></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>and</b></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Protection</b></p>
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			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Front-End Power Supplies</p>
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			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Provides the primary point of isolation between AC main line (input) and the low-voltage DC output that is used to power all electronics downstream.</p>
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			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Servers, telecommunication, network and data storage equipment.</p>
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			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Bel Power Solutions</p>
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			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Board-Mount Power Products</p>
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			<td style="border-bottom:solid 1px #000000;vertical-align:top;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">These are designed to be mounted on a circuit board.&nbsp;&nbsp;These converters take input voltage and provide localized on-board power to low-voltage electronics.</p>
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			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Telecommunication, networking and a broad range of industrial applications.</p>
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			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: auto; border-right: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Bel Power Solutions, Melcher<sup style="vertical-align:top;line-height:120%;font-size:pt">TM</sup>, CUI</p>
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			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Industrial Power Products</p>
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			<td style="border-bottom:solid 1px #000000;vertical-align:top;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Converts between AC main line inputs and a wide variety of DC output voltages.</p>
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			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Rail, transportation, automation, test and measurement, medical, military and aerospace applications.</p>
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			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: auto; border-right: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Bel Power Solutions, Melcher<sup style="vertical-align:top;line-height:120%;font-size:pt">TM</sup>, CUI, EOS</p>
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			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">External Power Products</p>
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			<td style="border-bottom:solid 1px #000000;vertical-align:top;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Standard and customizable desktop and wall plug adapters that convert AC main input voltages to a variety of DC output voltages.</p>
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			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: auto; border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Consumer and industrial devices and equipment.</p>
			</td>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: auto; border-right: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">CUI</p>
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			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: middle; width: auto; border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Circuit Protection</p>
			</td>
			<td style="border-bottom:solid 1px #000000;vertical-align:top;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Protects devices by preventing current in an electrical circuit from exceeding acceptable levels.</p>
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			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: auto; border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Power supplies, cell phone chargers, consumer electronics, and battery protection.</p>
			</td>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: auto; border-right: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Bel</p>
			</td>
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<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"><u>Connectivity Solutions</u></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">Bel offers a comprehensive line of high speed and harsh environment copper and optical fiber connectors and integrated assemblies, which provide connectivity for a wide range of applications across multiple industries including commercial aerospace, military communications, network infrastructure, structured building cabling and several industrial applications.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;margin-left:auto;margin-right:auto;">

		<tr>
			<td style="border-bottom:solid 1px #000000;vertical-align:middle;width:auto;">&nbsp;</td>
			<td style="border-bottom:solid 1px #000000;vertical-align:middle;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Product Line</b></p>
			</td>
			<td style="border-bottom:solid 1px #000000;vertical-align:middle;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Function</b></p>
			</td>
			<td style="border-bottom:solid 1px #000000;vertical-align:middle;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Applications</b></p>
			</td>
			<td style="border-bottom:solid 1px #000000;vertical-align:middle;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Brands Sold Under</b></p>
			</td>
		</tr>
		<tr>
			<td colspan="1" rowspan="4" style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: middle; width: auto; border-left: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Connectivity</b></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Solutions</b></p>
			</td>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: middle; width: auto; border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Expanded Beam Fiber Optic Connectors, Cable Assemblies and Active Optical Devices (transceivers and media converters)</p>
			</td>
			<td style="border-bottom:solid 1px #000000;vertical-align:top;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Harsh-environment, high-reliability, flight-grade optical connectivity for high-speed communications.</p>
			</td>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: auto; border-left: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Military/aerospace, oil and gas well monitoring and exploration, broadcast, communications, RADAR</p>
			</td>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: auto; border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Stratos&#174;, Fibreco&#174;</p>
			</td>
		</tr>
		<tr>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: middle; width: auto; border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Copper-based Connectors / Cable Assemblies-FQIS</p>
			</td>
			<td style="border-bottom:solid 1px #000000;vertical-align:top;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Harsh-environment, high-reliability connectivity and fuel quantity monitoring (FQIS).</p>
			</td>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: auto; border-left: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Avionics, smart munitions, communications, radar and various industrial equipment</p>
			</td>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: auto; border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Cinch&#174;</p>
			</td>
		</tr>
		<tr>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: middle; width: auto; border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">RF Connectors, Cable Assemblies, Microwave Devices and Low Loss Cable</p>
			</td>
			<td style="border-bottom:solid 1px #000000;vertical-align:top;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Connectors and cable assemblies designed to provide connectivity within radio frequency (RF) applications.</p>
			</td>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: auto; border-left: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Military/aerospace, test and measurement, IoT, 5G high-frequency and wireless communications</p>
			</td>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: auto; border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Johnson, Trompeter, Midwest Microwave<sup style="vertical-align:top;line-height:120%;font-size:pt">TM</sup>, Semflex&#174;</p>
			</td>
		</tr>
		<tr>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: middle; width: auto; border-left: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Ethernet, I/O, Industrial and Power Connectivity</p>
			</td>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: auto; border-left: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">RJ45, RJ11, M12, IP67 and USB connectivity for data/voice/video transmission.</p>
			</td>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: auto; border-left: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Applications including routers, hubs, switches, peripheral device connectivity and patch panels; and emerging internet-of-things (IoT) applications</p>
			</td>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: auto; border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Stewart Connector</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"><u>Magnetic Solutions</u></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">Bel's Magnetics offers industry leading products.&nbsp; The Company's integrated connector module (ICM) products integrate RJ45 connectors with discrete magnetic components to provide better performance and a more robust device that allows customers to substantially reduce board space and optimize performance.&nbsp; Power Transformers include standard and custom designs for use in a wide array of applications, including industrial instrumentation, alarm and security systems, motion control, elevators, and medical products.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;margin-left:auto;margin-right:auto;">

		<tr>
			<td style="border-bottom:solid 1px #000000;vertical-align:middle;width:auto;">&nbsp;</td>
			<td style="border-bottom:solid 1px #000000;vertical-align:middle;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Product Line</b></p>
			</td>
			<td style="border-bottom:solid 1px #000000;vertical-align:middle;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Function</b></p>
			</td>
			<td style="border-bottom:solid 1px #000000;vertical-align:middle;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Applications</b></p>
			</td>
			<td style="border-bottom:solid 1px #000000;vertical-align:middle;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Brands Sold Under</b></p>
			</td>
		</tr>
		<tr>
			<td colspan="1" rowspan="4" style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: middle; width: auto; border-left: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Magnetic</b></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Solutions</b></p>
			</td>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: middle; width: auto; border-left: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Integrated Connector Modules (ICMs)</p>
			</td>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: auto; border-left: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Condition, filter, and isolate the electronic signal to ensure accurate data/voice/video transmission and provide RJ45 and USB connectivity.</p>
			</td>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: auto; border-left: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Network switches, routers, hubs, and PCs used in multi-speed Gigabit Ethernet, Power over Ethernet (PoE), PoE Plus and home networking applications.</p>
			</td>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: auto; border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Bel, TRP Connector&#174;, MagJack&#174;</p>
			</td>
		</tr>
		<tr>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: middle; width: auto; border-left: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Power Transformers</p>
			</td>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: auto; border-left: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Safety isolation and distribution.</p>
			</td>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: auto; border-left: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Power supplies, alarm, fire detection, and security systems, HVAC, lighting and medical equipment. Class 2, three phase, chassis mount, and PC mount designs available.</p>
			</td>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: auto; border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Signal</p>
			</td>
		</tr>
		<tr>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: middle; width: auto; border-left: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">SMD Power Inductors &amp; SMPS Transformers</p>
			</td>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: auto; border-left: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">A passive component that stores energy in a magnetic field.&nbsp;&nbsp;Widely used in analog electronic circuitry.</p>
			</td>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: auto; border-left: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Switchmode power supplies, DC/DC converters, LED lighting, automotive and consumer electronics.</p>
			</td>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: auto; border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Signal</p>
			</td>
		</tr>
		<tr>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: middle; width: auto; border-left: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Discrete Components-Ethernet</p>
			</td>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: auto; border-left: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Condition, filter, and isolate the electronic signals&nbsp;to ensure high speed Ethernet data transmission.</p>
			</td>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: auto; border-left: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Network switches, routers, hubs, and PCs used in multi-speed Gigabit Ethernet and Power over Ethernet (PoE).</p>
			</td>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: auto; border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Bel</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 15pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:right;"><b>&nbsp;</b></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:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:center;">&nbsp;</p>

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<div class="hf-cell PGNUM" data-number="3" data-prefix="" data-suffix="" style="text-align: center; font-size: 10pt; font-family: &quot;Times New Roman&quot;;">3</div>
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<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-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:right;"><b>&nbsp;</b></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:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;"><b>1.3</b><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b><b>Supply Chain Overview</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:right;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;">The Company has multiple suppliers for most of the raw materials it purchases.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:right;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;">At December 31, 2021, the Company operated 20&nbsp;manufacturing facilities in 7 countries.&nbsp; The following is a list of the locations of those manufacturing facilities and the Product Groups produced at each facility:</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:right;"><b>&nbsp;</b></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;border-bottom:solid 1px #000000;;width:26.2%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Location of Facility</b></p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:18.5%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Approximate Square Feet</b></p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:34.6%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Product Groups Produced</b></p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>at Facility</b></p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:20.6%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Percentage of Facility Used for Manufacturing</b></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:26.2%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Dongguan, People's Republic of China</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:18.5%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">661,000</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:34.6%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">Magnetic Solutions</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:20.6%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">&nbsp;36%</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:26.2%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Pingguo, People's Republic of China</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:18.5%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">251,000</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:34.6%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">All three product groups</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:20.6%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">&nbsp;71%</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:26.2%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Shenzhen, People's Republic of China</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:18.5%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">227,000</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:34.6%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">Power Solutions &amp; Protection</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:20.6%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">100%</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:26.2%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Zhongshan, People's Republic of China</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:18.5%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">303,000</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:34.6%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">All three product groups</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:20.6%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">&nbsp;85%</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:26.2%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Zhongshan, People's Republic of China</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:18.5%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">118,000</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:34.6%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">All three product groups</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:20.6%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">100%</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:26.2%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Zhongshan, People's Republic of China</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:18.5%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">&nbsp;78,000</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:34.6%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">All three product groups</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:20.6%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">100%</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:26.2%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Louny, Czech Republic</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:18.5%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">&nbsp;11,000</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:34.6%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">Connectivity Solutions</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:20.6%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">&nbsp;75%</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:26.2%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Dubnica nad Vahom, Slovakia</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:18.5%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">&nbsp;35,000</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:34.6%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">Power Solutions &amp; Protection</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:20.6%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">100%</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:26.2%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Dubnica nad Vahom, Slovakia</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:18.5%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">&nbsp;70,000</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:34.6%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">Power Solutions &amp; Protection</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:20.6%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">100%</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:26.2%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Worksop, United Kingdom</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:18.5%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">&nbsp;51,000</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:34.6%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">Connectivity Solutions</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:20.6%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">&nbsp;28%</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:26.2%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Chelmsford, United Kingdom</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:18.5%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">&nbsp;17,000</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:34.6%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">Connectivity Solutions</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:20.6%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">&nbsp;80%</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:26.2%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Sudbury, United Kingdom</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:18.5%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">&nbsp;12,000</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:34.6%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">Connectivity Solutions</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:20.6%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">&nbsp;90%</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:26.2%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Dominican Republic</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:18.5%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">&nbsp;33,000</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:34.6%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">Magnetic Solutions</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:20.6%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">&nbsp;85%</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:26.2%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Cananea, Mexico</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:18.5%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">&nbsp;29,000</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:34.6%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">Connectivity Solutions</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:20.6%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">&nbsp;60%</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:26.2%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Reynosa, Mexico</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:18.5%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">&nbsp;80,000</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:34.6%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">Connectivity Solutions</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:20.6%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">&nbsp;56%</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:bottom;border-bottom:solid 1px #000000;;width:26.2%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Glen Rock, Pennsylvania</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:18.5%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">&nbsp;74,000</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:34.6%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">Connectivity Solutions</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:20.6%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">&nbsp;60%</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:bottom;border-bottom:solid 1px #000000;;width:26.2%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Waseca, Minnesota</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:18.5%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">127,000</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:34.6%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">Connectivity Solutions</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:20.6%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">&nbsp;83%</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:bottom;border-bottom:solid 1px #000000;;width:26.2%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">McAllen, Texas</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:18.5%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">&nbsp;40,000</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:34.6%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">Connectivity Solutions</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:20.6%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">&nbsp;56%</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:bottom;border-bottom:solid 1px #000000;;width:26.2%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Melbourne, Florida</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:18.5%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">&nbsp;18,000</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:34.6%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">Connectivity Solutions</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:20.6%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">&nbsp;64%</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:bottom;border-bottom:solid 1px #000000;;width:26.2%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Tempe, Arizona</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:18.5%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">&nbsp;&nbsp;8,000</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:34.6%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">Connectivity Solutions</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:20.6%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">100%</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:right;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;">We rely on our direct suppliers to provide information as to whether Conflict Minerals are contained in components and materials supplied to us, including sources of Conflict Minerals that may be supplied to our direct suppliers from lower tier suppliers as further discussed in Section 2 of this Report.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:right;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;">It is not practicable to conduct a survey of all of our suppliers; therefore, we believed a good faith reasonable due diligence approach was to conduct a survey of our top suppliers, based on the percentage of "raw material spend," as further described under "Due Diligence Process" below.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:right;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;">In accordance with the requirements of Form SD, this Report includes:</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:right;"><b>&nbsp;</b></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: 3%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:18pt;margin-right:0pt;margin-top:0pt;text-align:left;">&#8226;</p>
			</td>
			<td style="vertical-align: top; width: 97%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">a description of the measures we took to exercise due diligence on the Conflict Minerals' source and chain of custody;</p>
			</td>
		</tr>

</table>

<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: 3%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:18pt;margin-right:0pt;margin-top:0pt;text-align:left;">&#8226;</p>
			</td>
			<td style="vertical-align: top; width: 97%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">a description of the products manufactured or contracted to be manufactured that contain Conflict Minerals;</p>
			</td>
		</tr>

</table>

<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: 3%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:18pt;margin-right:0pt;margin-top:0pt;text-align:left;">&#8226;</p>
			</td>
			<td style="vertical-align: top; width: 97%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">the facilities used to process the Conflict Minerals;</p>
			</td>
		</tr>

</table>

<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: 3%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:18pt;margin-right:0pt;margin-top:0pt;text-align:left;">&#8226;</p>
			</td>
			<td style="vertical-align: top; width: 97%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">the country of origin of the Conflict Minerals to the extent available; and</p>
			</td>
		</tr>

</table>

<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: 3%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:18pt;margin-right:0pt;margin-top:0pt;text-align:left;">&#8226;</p>
			</td>
			<td style="vertical-align: top; width: 97%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">the efforts to determine the mine or location of origin.</p>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:right;"><b>&nbsp;</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;">We participate in a number of industry-wide initiatives described in Section 2 of this Report.&nbsp; This Report is available on our website at www.belfuse.com.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:right;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;"><b>1.4</b><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b><b>Conflict Minerals Policy</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:right;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;">We have adopted the following conflict minerals policy statement (the "CM Policy"):</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:right;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:center;"><b>Conflict Free Sourcing Statement</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:right;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;">Conflict metals are metals such as gold (Au), tantalum (Ta), tungsten (W), and tin (Sn) derived from minerals being sourced from mines in Democratic Republic of Congo (DRC) conflict areas which are controlled by non-government military groups, or unlawful military factions. Illegal mining profits by local military groups in the DRC are used to help finance area conflict, while also contributing to human rights abuses and environmental degradation.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:right;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;">Bel expects its suppliers to comply with the Responsible Business Alliance ("RBA") guidelines, and as a result undertake commercially reasonable due diligence in dealing with their own supply chain with regard to this matter. Due to the various layers involved in our supply chain, we are currently unable to verify the source of all metals used in our products. In an effort to more clearly identify the origin of these specific metals, we've asked that our suppliers complete the Responsible Minerals Initiative ("RMI") Conflict Minerals Reporting Template, and require they notify us immediately if they determine a conflict metal is being supplied to Bel as part of any item we source from them.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:right;"><b>&nbsp;</b></p>

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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Design of Due Diligence</b></p>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:right;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;">We have conducted a good faith reasonable country of origin inquiry regarding Conflict Minerals.&nbsp; In July 2011, we commenced our due diligence measures, which are designed to conform, in all material respects, with the framework in The Organisation for Economic Co-operation and Development ("OECD") Due Diligence Guidance for Responsible Supply Chain of Minerals from Conflict-Affected and High-Risk Areas, including the related supplements on gold, tin, tantalum and tungsten (the "OECD Guidance").</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:right;"><b>&nbsp;</b></p>

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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>2.2</b></p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Management Systems</b></p>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:right;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;">As described above, we have adopted the CM Policy, which is posted on our website at www.belfuse.com, under "Investors, Corporate Governance, Conflict Free Statement."</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:right;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;"><b>Internal Team</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:right;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;">The people responsible for purchasing and quality assurance at each of our facilities comprise our team.&nbsp; The team is responsible for implementing our Conflict Minerals compliance strategy and reports to our Chief Financial Officer.&nbsp; We utilize the RMI&nbsp;Conflict Minerals Reporting Template to collect, manage, aggregate, and report Conflict Minerals information, which we believe is an industry standard practice. Senior management of Bel is briefed about the results of our due diligence efforts on a regular basis.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;"><b>Control Systems</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:right;"><b>&nbsp;</b></p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 43.2pt 0pt 7.2pt; text-align: justify;">Our supply chain is complex and includes many third parties between our direct suppliers and the original sources of the Conflict Minerals.&nbsp; As a result, we do not purchase Conflict Minerals directly from smelters or refiners and, therefore, do not have a direct relationship with smelters and refiners.&nbsp; We utilize the Conflict Minerals Reporting Template, a resource developed by the RMI (which was founded in 2008 as the Conflict-Free Sourcing Initiative by members of the RBA, formerly the Electronic Industry Citizenship Coalition, and the Global e-Sustainability Initiative), an industry-wide initiative to disclose upstream sources in the supply chain.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:right;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;">Controls include, but are not limited to, our Code of Ethics, which outlines expected behaviors for all of our associates. The Code is posted on our website at www.belfuse.com, under "Investors, Corporate Governance, Code of Ethics."&nbsp; Since 2013, regardless of whether suppliers are directly subject to the Rule, our purchase orders incorporate our CM Policy by reference thereto.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:right;">&nbsp;</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;"><b>Supplier Engagement</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:right;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;">With respect to the OECD requirement to strengthen engagement with suppliers, we have provided education for our suppliers that are not required to be compliant with the Rule and encouraged our supply base to utilize the Conflict Minerals Reporting Template, which is made available to them on a cost-free basis through the RMI website.&nbsp; As referenced above, since 2013, purchase orders issued to our suppliers incorporate our CM Policy by reference, whether or not such suppliers are directly subject to the Rule.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:right;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;"><b>Grievance Mechanism</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:right;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;">Bel's associates may report misconduct, raise issues or ask questions, including with respect to any questionable accounting, internal control or auditing matters concerning the Company, without fear of dismissal or retaliation of any kind. Reports may be made confidentially and/or anonymously online through www.ethicspoint.com.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:right;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;">In addition, the Board of Directors has established a procedure that enables shareholders to communicate in writing with members of the Board. Any such communication should be addressed to the Company's Secretary and should be sent to such individual c/o Bel Fuse Inc., 206 Van Vorst Street, Jersey City, New Jersey 07302. Any such communication must state, in a conspicuous manner, that it is intended for distribution to the entire Board of Directors. Shareholders may also communicate with the Board by directing communications through the Corporate Secretary by following instructions on the Company's website at www.belfuse.com. Under the procedures established by the Board, upon the receipt of such a communication, the Company's Secretary will send a copy of such communication to each member of the Board, identifying it as a communication received from a shareholder.&nbsp; Absent unusual circumstances, at the next regularly scheduled meeting of the Board held more than two days after such communication has been distributed, the Board will consider the substance of any such communication.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;">We generally have a policy to retain all relevant documentation relating to our conflict minerals due diligence for an indefinite period of time.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:right;"><b>&nbsp;</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;">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 sources upstream from our direct suppliers. Accordingly, we participate in a number of industry-wide initiatives as described above.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;">We have identified our direct suppliers and we rely on these suppliers, whose raw materials may contain Conflict Minerals, to provide us with information about the source of such Conflict Minerals contained in the raw materials supplied to us. Our direct suppliers are similarly reliant upon information provided by their suppliers.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:right;"><b>&nbsp;</b></p>

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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Design and Implement a Strategy to Respond to Risks</b></p>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:right;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;">In response to this risk assessment, we have an approved risk management plan, through which the Conflict Minerals program is implemented, managed and monitored. Updates to this risk assessment are provided regularly to senior management.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:right;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;">As part of our risk management plan, to ensure suppliers understand our expectations, we have included our CM Policy on our website and held internal training sessions with our employees.&nbsp; This helps us to ensure that our employees are knowledgeable of the Rule and have the ability to inform our suppliers of the Rule.&nbsp; Since 2013, all purchase orders we issue incorporate our CM Policy by reference thereto.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:right;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;">As described in our CM Policy, we would engage any of our suppliers whom we have reason to believe are supplying us with Conflict Minerals from sources that may support conflict in any of the Covered Countries to establish an alternative source of such Conflict Minerals that does not support such conflict, as provided in the OECD <font style="background-color:#ffffff;">Guidance. During the Reporting Period, we engaged with one vendor to establish an alternate source of&nbsp;its Conflict Minerals&nbsp;as further described under "Survey Responses" below.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:right;"><b>&nbsp;</b></p>

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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>2.5</b></p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Assessment of Feasibility of Third Party Audit of Supply Chain Due Diligence at Identified Points in the Supply Chain</b></p>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;">We do not typically have a direct relationship with smelters and refiners and do not perform or direct audits of these entities within our supply chain.</p>

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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Due Diligence Results</b></p>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 43.2pt;text-align:justify;"><b>&nbsp;</b></p>

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<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 43.2pt 0pt 7.2pt; text-align: justify;">We conducted a survey of our top suppliers utilizing the RMI Conflict Minerals Reporting Template (the "Template"). The Template was developed to facilitate disclosure and communication of information regarding smelters that provide materials within a company's supply chain. It includes questions regarding a company's conflict-free policy, engagement with its direct suppliers, and a listing of the smelters the company and its suppliers use. In addition, the Template contains questions about the origin of Conflict Minerals included in a company's products, as well as supplier due diligence. Written instructions and recorded training illustrating the use of the tool are available on RMI's website.&nbsp; We understand that the Template is being used by many companies in their due diligence processes related to Conflict Minerals.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;"><b>Survey Responses</b></p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 8pt; text-align: justify;"><u>Power Solutions &amp; Protection</u></p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 8pt; text-align: justify;">The facilities that manufacture products for Bel&#8217;s Power Solutions &amp; Protection group are set forth above in the chart under &#8220;1.3 Supply Chain Overview&#8221;.&nbsp; We surveyed suppliers to these facilities which represented 99% of raw material spend to suppliers of products or components that could contain Conflict Minerals at those facilities.&nbsp; The majority of those suppliers responded.&nbsp; Of the smelters identified, the majority were either on the Conflict Free Smelters list prepared by RMI or otherwise conforms to OECD due diligence standards.&nbsp; The Power Solutions &amp; Protection group accounted for approximately 44% of our aggregate raw materials spend f<font style="background-color:#ffffff;">or 2021.&nbsp;Our&nbsp;CUI business, which is part of Bel's&nbsp;Power Solutions &amp; Protection group, is currently in discussions with one vendor on identifying an&nbsp;alternative source within a reasonable period of time, in replacement of the vendor's currently-utilized source which does not appear on the Conflict Free Smelters list prepared by RMI.&nbsp; This particular vendor accounted for less than $0.1 million&nbsp;of our aggregate raw materials spend for 2021.&nbsp;</font></p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 8pt; text-align: justify;"><u>Connectivity Solutions</u></p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 8pt; text-align: justify;">The facilities that manufacture products for Bel&#8217;s Connectivity Solutions group are set forth above in the chart under &#8220;1.3 Supply Chain Overview&#8221;. We surveyed suppliers to these facilities which represented the majority of raw material spend to suppliers of products or components that could contain Conflict Minerals at those facilities.&nbsp; The majority of those suppliers responded.&nbsp; Of the smelters identified, all were either on the Conflict Free Smelters list prepared by RMI or otherwise conforms to OECD due diligence standa<font style="background-color:#ffffff;">rds.&nbsp; We are not aware of any Connectivity Solutions raw materials sourced from non-conformant smelters.&nbsp; The </font>Connectivity Solutions group accounted for approximately 27% of our aggregate raw materials spend for 2021.</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 8pt; text-align: justify;"><u>Magnetic Solutions</u></p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 8pt; text-align: justify;">The facilities that manufacture products for Bel&#8217;s Magnetic Solutions group are set forth above in the chart under &#8220;1.3 Supply Chain Overview&#8221;. We surveyed suppliers to these facilities which represented 97% of raw material spend to suppliers of products or components that could contain Conflict Minerals at those facilities.&nbsp; The majority of those suppliers responded.&nbsp; Of the smelters identified, all were either on the Conflict Free Smelters list prepared by RMI or otherwise conforms to OECD due diligence standards<font style="background-color:#ffffff;">.&nbsp; We are not aware of any Magnetic Solutions raw materials sourced from non-conformant smelters.&nbsp; The </font>Magnetic Solutions group accounted for approximately 29% of our aggregate raw materials spend for 2021.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;">We reviewed the responses we received against criteria developed to determine which required further engagement with our suppliers. These criteria included untimely or incomplete responses as well as inconsistencies within the data reported in the Template. Where further engagement was necessary, we have worked directly with these suppliers to provide us with revised responses.&nbsp;&nbsp;</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;"><b>Efforts to Determine Mine or Location of Origin</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:7.2pt;margin-right:43.2pt;margin-top:0pt;text-align:justify;">Through our participation in RMI, the OECD implementation programs, and requests to our suppliers to complete the Template, we have determined that seeking information about smelters and refiners that may be included in our supply chain represents the most reasonable effort we can make to determine the mines or locations of origin of any Conflict Materials that may be used in our products.&nbsp; We continue to encourage our suppliers to use smelters that are on the Conflict Free Smelters list prepared by RMI.</p>

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