<SEC-DOCUMENT>0001171843-18-004244.txt : 20180529
<SEC-HEADER>0001171843-18-004244.hdr.sgml : 20180529
<ACCEPTANCE-DATETIME>20180529090101
ACCESSION NUMBER:		0001171843-18-004244
CONFORMED SUBMISSION TYPE:	SD
PUBLIC DOCUMENT COUNT:		2
<RULE>
<RULE-NAME>13p-1
<ITEM>
<ITEM-NUMBER>1.01
<ITEM-PERIOD>20171231
</ITEM>
<ITEM>
<ITEM-NUMBER>1.02
<ITEM-PERIOD>20171231
</ITEM>
</RULE>
FILED AS OF DATE:		20180529
DATE AS OF CHANGE:		20180529

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			UFP TECHNOLOGIES INC
		CENTRAL INDEX KEY:			0000914156
		STANDARD INDUSTRIAL CLASSIFICATION:	PLASTICS FOAM PRODUCTS [3086]
		IRS NUMBER:				042314970
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SD
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12648
		FILM NUMBER:		18863037

	BUSINESS ADDRESS:	
		STREET 1:		100 HALE STREET
		CITY:			NEWBURYPORT
		STATE:			MA
		ZIP:			01950
		BUSINESS PHONE:		978-352-2200

	MAIL ADDRESS:	
		STREET 1:		100 HALE STREET
		CITY:			NEWBURYPORT
		STATE:			MA
		ZIP:			01950
</SEC-HEADER>
<DOCUMENT>
<TYPE>SD
<SEQUENCE>1
<FILENAME>fsd_052918.htm
<DESCRIPTION>FORM SD
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<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 16pt"><B>UNITED STATES</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 16pt"><B>SECURITIES AND EXCHANGE COMMISSION</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 12pt"><B>Washington, D.C. 20549</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 16pt"><B>FORM SD</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 16pt"><B>Specialized Disclosure Report</B></FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 18pt; text-align: center; margin: 0pt 0"><B>UFP Technologies, Inc.</B></P>

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

<P STYLE="font-size: 18pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 30%">&nbsp;</TD>
    <TD STYLE="width: 39%">&nbsp;</TD>
    <TD STYLE="width: 31%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: center"><B>Delaware</B></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: center"><B>001-12648</B></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: center"><B>04-2314970</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: center">(State or Other Jurisdiction of <BR>
Incorporation)</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: center">(Commission File Number)</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: center">(IRS Employer Identification Number)</TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
<TR>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 40%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: center"><B>100 Hale Street, Newburyport Massachusetts </B></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: center"><B>01950</B></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: center">(Address of Principal Executive Offices)</TD>
    <TD STYLE="font-size: 10pt; text-align: center">(Zip Code)</TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
<TR>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 30%">&nbsp;</TD>
    <TD STYLE="width: 41%">&nbsp;</TD>
    <TD STYLE="width: 29%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: right"><B>Ronald J. Lataille</B></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left"><B>(978) 352-2200</B></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="font-size: 10pt; text-align: center">(Name and telephone number, including area code, of the person to contact in connection with this report.)</TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Check the appropriate box to indicate the rule pursuant to which this form is being filed,
and provide the period to which the information in this form applies:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&#9746;</B>&nbsp;&nbsp;<B>Rule 13p-1 under the Securities
Exchange Act (17 CFR 240.13p-1) for the reporting period from January 1 to December 31, 2017</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

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<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>SECTION 1 - Conflict Minerals Disclosure</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>Items 1.01 and 1.02 Conflict Minerals Disclosure and Report, Exhibit.</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">A copy of the UFP Technologies, Inc. Conflict Minerals Report is provided as Exhibit
1.01 hereto and is publicly available at: <FONT STYLE="color: blue"><U>http://www.ufpt.com</U></FONT> under &ldquo;Investor Relations&rdquo;
/ &ldquo;Corporate Governance&rdquo;.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>SECTION 2 &ndash; Exhibits</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>Item 2.01 Exhibits.</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-indent: 0.25in; margin: 0pt 0">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp; </FONT>Exhibits</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: middle">
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-decoration: underline; text-align: left; width: 13%">Exhibit Number</TD>
    <TD STYLE="font-size: 10pt; width: 4%">--</TD>
    <TD STYLE="font-size: 10pt; text-decoration: underline; width: 83%">Description</TD></TR>
<TR>
    <TD STYLE="font-size: 10pt; vertical-align: middle; text-align: left">1.01</TD>
    <TD STYLE="font-size: 10pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; vertical-align: middle">Conflict Minerals Report</TD></TR>
</TABLE>


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<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Signatures</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 10pt">UFP Technologies, Inc.</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 50%; font-size: 10pt">Date: May 29, 2018</TD>
    <TD STYLE="vertical-align: top; width: 5%; font-size: 10pt">By:</TD>
    <TD STYLE="vertical-align: bottom; width: 1%; border-bottom: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 27%; border-bottom: Black 1pt solid; font-size: 10pt">/s/ Ronald J. Lataille</TD>
    <TD STYLE="width: 17%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">Name:</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">Ronald J. Lataille</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">Title:</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; font-size: 10pt">Chief Financial Officer and Senior Vice President</TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-1.01
<SEQUENCE>2
<FILENAME>exh_101.htm
<DESCRIPTION>EXHIBIT 1.01
<TEXT>
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<P STYLE="font-size: 10pt; text-align: right; margin: 0pt 0"><B>Exhibit 1.01</B></P>

<P STYLE="font-size: 10pt; text-align: right; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 60pt 0pt 39pt"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 60pt 0pt 39pt"><B>UFP Technologies, Inc.</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 60pt 0pt 39pt"><B>Conflict Minerals Report</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 60pt 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 60pt 0pt 0"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>INTRODUCTION</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">This Conflict Minerals Report (&ldquo;CMR&rdquo;) of UFP Technologies, Inc. (herein referred
to as &ldquo;UFP,&rdquo; the &ldquo;Company,&rdquo; &ldquo;we,&rdquo; &ldquo;us,&rdquo; or &ldquo;our&rdquo;) has been prepared
pursuant to Rule 13p-1 and Form SD promulgated under the Securities Exchange Act of 1934 for the reporting period from January
1, 2017 to December 31, 2017 (the &ldquo;Reporting Period&rdquo;).</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Rule 13p-1 requires disclosure of certain information when a company manufactures or
contracts to manufacture products for which &ldquo;Conflict Minerals&rdquo; are necessary to the functionality or production of
those products. The &ldquo;Conflict Minerals&rdquo; for the purposes of Rule 13p-1 are gold, columbite-tantalite (coltan), cassiterite,
and wolframite (including their derivatives, tantalum, tin and tungsten, and the U.S. Secretary of State may designate other minerals
in the future). The &ldquo;Covered Countries&rdquo; for the purposes of Rule 13p-1 are the Democratic Republic of the Congo (the
&ldquo;DRC&rdquo;), the Republic of the Congo, the Central African Republic, South Sudan, Uganda, Rwanda, Burundi, Tanzania, Zambia
and Angola.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">In accordance with Securities and Exchange Commission (&ldquo;SEC&rdquo;) guidance, this
CMR is not audited.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">As required by Rule 13p-1, this CMR relates to products (the &ldquo;Covered Products&rdquo;):
(i) for which Conflict Minerals are necessary to the functionality or production of those products; (ii) that were manufactured,
or contracted to be manufactured, by the Company; and (iii) for which the manufacture was completed during the Reporting Period.
As a result of our reasonable country of origin inquiry (&ldquo;RCOI&rdquo;) and the due diligence procedures described below,
the Company has identified certain components in its supply chain that contain necessary Conflict Minerals.&nbsp; These components
constitute only a very small portion of the materials content of UFP&rsquo;s products.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 6pt"><I>RCOI</I></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">UFP has conducted a good faith RCOI regarding the necessary Conflict Minerals used in
its products. This good faith RCOI was designed to reasonably determine whether any of the necessary Conflict Minerals originated
in the Covered Countries or came from recycled or scrap sources. The Company&rsquo;s primary means of determining country of origin
of such Conflict Minerals was by conducting a supply chain survey. Survey procedures included evaluating supplier responses to
the Responsible Business Alliance (&ldquo;RBA&rdquo;) (formerly the Electronic Industry Citizenship Coalition)/Global e-Sustainability
Initiative Conflict Minerals Reporting Template (the &ldquo;Template&rdquo;). Where applicable, the Company also inquired as to
whether the supplier has a policy on Conflict Minerals and made follow-up inquiries with appropriate supplier personnel.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 6pt"><I>Design of Due Diligence</I></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Based on the Company&rsquo;s RCOI, the Company was also required to exercise due diligence
on the source and chain of custody of the Conflict Minerals in its products. The design of the due diligence measures described
in this CMR is intended to comply in all material respects with the <I>Organization for Economic Co-operation and Development (&ldquo;OECD&rdquo;)
Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High Risk Areas: Third Edition</I>,
including the related supplements on gold, tin, tantalum and tungsten (collectively, the &ldquo;OECD Guidance&rdquo;). The OECD
Guidance is an internationally recognized due diligence framework for identifying the source of Conflict Minerals, which includes
the following steps:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in">Step 1: Establish strong company management systems</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in">Step 2: Identify and assess risks in the supply chain</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in">Step 3: Design and implement a strategy to respond to identified risks</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in">Step 4: Carry out independent third-party audit of smelter(s)/refiner(s) due
diligence practices</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in">Step 5: Report annually on supply chain due diligence</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">The OECD Guidance is written for the entire mineral supply chain and therefore UFP&rsquo;s
due diligence measures were tailored to include steps appropriate for &ldquo;downstream&rdquo; companies such as the Company.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

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<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 6pt"><I>Due Diligence Measures Performed</I></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">The Company&rsquo;s supply chain is complex, and there are many third parties in the
supply chain between UFP's suppliers and the original sources of any Conflict Minerals. The Company does not purchase Conflict
Minerals directly from mines, smelters or refiners. The Company must therefore rely on its suppliers to provide information regarding
the origin of Conflict Minerals that are in our products. Given this context, the Company undertook the following measures to exercise
due diligence on the source and chain of custody of the Conflict Minerals in its products for the Reporting Period:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(i)</TD><TD>UFP has established a management system to support its supply chain due diligence.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">a.</TD><TD>UFP has adopted an organizational structure and communication process that is intended to improve supply chain transparency.
This system is meant to help us obtain critical information regarding the supply chain of Conflict Minerals used in its products.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">b.</TD><TD>UFP has a formal company policy regarding Conflict Minerals in its supply chain. This policy is publicly available on the Company&rsquo;s
website at http://www.ufpt.com under &ldquo;Investor Relations&rdquo; / &ldquo;Corporate Governance&rdquo;.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">c.</TD><TD>UFP has assigned authority and responsibility to a multi-disciplinary team consisting of individuals from Purchasing, Finance
and Plant Management. Conflict Minerals matters are discussed as needed at operations meetings and are ultimately reported to upper
level management including the Vice President of Operations and Chief Financial Officer.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">d.</TD><TD>UFP maintains business records relating to Conflict Minerals due diligence in accordance with the Company&rsquo;s existing
processes.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD>UFP has taken steps to identify and assess risk in its supply chain.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">a.</TD><TD>UFP reviewed its supply chain in order to identify products or materials that may have contained Conflict Minerals during the
Reporting Period. UFP then sent applicable suppliers a copy of the Template in order to assess the use, or lack thereof, of Conflict
Minerals in the products and materials the Company purchases.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">b.</TD><TD>To date, a significant amount of Templates have been returned. Follow-up reminders were sent to suppliers who did not return
a Template and further correspondence was submitted when we had additional questions on the responses provided.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD>UFP has designed and implemented a strategy to respond to identified risks.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">a.</TD><TD>UFP has designed and implemented a risk management plan that includes, but is not limited to, engaging in follow-up discussions
with suppliers about the composition of their products and materials, requests for suppliers to complete Templates, and incorporating
Conflict Minerals language into UFP&rsquo;s supplier contracts and purchase orders through the Company's updated standard terms
and conditions as published on its website. If a supplier identifies that it has Conflict Minerals in the products or materials
it supplies, UFP will actively engage that supplier to provide us with the locations of the smelter(s)/refiner(s) of those Conflict
Minerals and to obtain a copy of their Conflict Mineral policies.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">b.</TD><TD>For the smelters identified in UFP&rsquo;s supply chain that are providing Conflict Minerals, UFP will review the Responsible
Minerals Initiative&rsquo;s (&ldquo;RMI&rdquo;) smelter list to determine if they are validated as Conformant Smelters &amp; Refiners
as part of the Responsible Minerals Assurance Process (&ldquo;RMAP&rdquo;) (formerly the Conflict Free Sourcing Initiative).</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD>UFP has determined reliance upon independent third-party audits of smelter/refiner due diligence practices by RMI is appropriate.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">a.</TD><TD>UFP is a downstream company and is many steps removed from the smelters and refiners that produce the necessary Conflict Minerals
contained in UFP&rsquo;s products or components of UFP&rsquo;s products. UFP does not purchase raw minerals or ores, and does not,
to the best of its knowledge, directly purchase Conflict Minerals from any of the Covered Countries. Accordingly, UFP does not
perform or direct audits of these entities&rsquo; supply chains of Conflict Minerals. However, UFP supports industry wide efforts
and the development and implementation of independent third-party audits of smelters and refiners, such as the RMI&rsquo;s Responsible
Minerals Assurance Process.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(v)</TD><TD>UFP complies with Step 5 of the OECD Guidance through its filing of this report (and the related Form SD) with the SEC and
by making these materials publicly available on its website at http://www.ufpt.com under &ldquo;Investor Relations&rdquo; / &ldquo;Corporate
Governance&rdquo;.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: -0.5in; margin: 0pt 0 0pt 0.5in"><B></B></P>

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<P STYLE="font-size: 10pt; text-indent: -0.5in; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-indent: -0.5in; margin: 0pt 0 0pt 0.5in"><B>FINDINGS AND CONCLUSIONS</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Based on the information that was provided by the suppliers that UFP surveyed and otherwise
obtained through the due diligence process described above, UFP believes that, to the extent reasonably determinable by UFP, the
facilities that were used to process the Conflict Minerals contained in the Covered Products included the entities identified below
which include facilities that are &ldquo;known smelters or refineries&rdquo; and conformant with the&nbsp;Responsible Minerals
Assurance Process assessment protocols. All of these 37 Known Smelters or Refineries listed received a &ldquo;conformant&rdquo;
designation from an independent third party audit program as of May 18, 2018, or previously had a &ldquo;conformant&rdquo; designation
which has since expired and are undergoing a re-audit.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Based on these due diligence efforts, UFP does not have sufficient information to determine
all the facilities used to process necessary Conflict Minerals or to determine the mines or countries of origin of the Conflict
Minerals contained in the Covered Products or whether the Conflict Minerals in the Covered Products are from recycled or scrap
sources. Despite repeated efforts to obtain completed Templates, a significant number of suppliers did not respond to survey requests.
In addition, because the Company is several levels removed from the source of the Conflict Minerals, despite its due diligence
efforts, it was unable to identify or further investigate the source of any Conflict Minerals supplied by certain suppliers who
were either non-responsive or uncertain about where the Conflict Minerals used in products they supplied to the Company originated.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">UFP continues to work with suppliers throughout its supply chain to re-validate, improve,
and refine their reported information, taking into account supply chain fluctuations and other changes in status or scope and relationships
over time.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">UFP believes that, to the extent reasonably determinable, the facilities that were used
to process the Conflict Minerals contained in the Covered Products included the smelters and refiners listed in the table below.
This table includes only facilities that are Known Smelters or Refineries.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%; border: black 1pt solid; text-align: center"><B>Metal</B></TD>
    <TD STYLE="width: 12%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; padding-left: 3pt"><B>Smelter ID</B></TD>
    <TD STYLE="width: 38%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; padding-left: 3pt"><B>Smelter Name</B></TD>
    <TD STYLE="width: 29%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; padding-left: 3pt"><B>Smelter Country</B></TD>
    <TD STYLE="width: 9%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><B>Notes</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Tin</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">CID001070</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">China Tin Group Co., Ltd.</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">CHINA</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 12pt"><B>*</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Tin</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">CID002570</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">CY Ayi Jaya</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">INDONESIA</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 12pt"><B>*</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Tin</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">CID000315</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">CV United Smelting</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">INDONESIA</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 12pt"><B>*</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Tin</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">CID002592</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">CV Dua Sekawan</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">INDONESIA</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 12pt"><B>*</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Tin</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">CID000306</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">CV Gita Pesona</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">INDONESIA</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 12pt"><B>*</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Tin</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">CID002455</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">CV Venus Inti Perkasa</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">INDONESIA</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 12pt"><B>*</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Tin</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">CID000438</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">EM Vinto</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">BOLIVIA</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 12pt"><B>*</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Tin</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">CID000468</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">Fenix Metals</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">POLAND</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 12pt"><B>*</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Tin</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">CID003116</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">Guangdong Hanhe Non-Ferrous</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">CHINA</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 12pt"><B>*</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Tin</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">CID001105</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">Malaysia Smelting Corporation (MSC)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">MALAYSIA</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 12pt"><B>*</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Tin</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">CID002773</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">Metallo Belgium N.V.</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">BELGIUM</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 12pt"><B>*</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Tin</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">CID001173</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">Minera&ccedil;&atilde;o Taboca S.A.</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">BRAZIL</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 12pt"><B>*</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Tin</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">CID001182</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">Minsur</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">PERU</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 12pt"><B>*</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Tin</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">CID001337</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">Operaciones Metalurgical S.A.</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">BOLIVIA</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 12pt"><B>*</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Tin</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">CID000309</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">PT Aries Kencana Sejahtera</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">INDONESIA</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 12pt"><B>*</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Tin</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">CID001399</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">PT Artha Cipta Langgeng</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">INDONESIA</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 12pt"><B>*</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Tin</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">CID002503</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">PT ATD Makmur Mandiri Jaya</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">INDONESIA</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 12pt"><B>*</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Tin</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">CID001402</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">PT Babel Inti Perkasa</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">INDONESIA</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 12pt"><B>*</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Tin</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">CID001428</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">PT Bukit Timah</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">INDONESIA</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 12pt"><B>*</B></FONT></TD></TR>
</TABLE>

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

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; text-align: center; width: 12%; border-top: Black 1pt solid"><FONT STYLE="font-size: 10pt">Tin</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 3pt; width: 12%; border-top: Black 1pt solid"><FONT STYLE="font-size: 10pt">CID001434</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 3pt; width: 38%; border-top: Black 1pt solid"><FONT STYLE="font-size: 10pt">PT DS Jaya Abadi</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 3pt; width: 29%; border-top: Black 1pt solid"><FONT STYLE="font-size: 10pt">INDONESIA</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; width: 9%; border-top: Black 1pt solid"><FONT STYLE="font-size: 12pt"><B>*</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Tin</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">CID001438</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">PT Eunindo Usaha Mandiri</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">INDONESIA</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 12pt"><B>*</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Tin</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">CID002870</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">PT Lautan Harmonis Sejahtera</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">INDONESIA</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 12pt"><B>*</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Tin</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">CID002835</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">PT Menara Cipta Mulia</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">INDONESIA</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 12pt"><B>*</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Tin</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">CID001453</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">PT Mitra Stania Prima</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">INDONESIA</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 12pt"><B>*</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Tin</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">CID001460</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">PT Refined Bangka Tin</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">INDONESIA</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 12pt"><B>*</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Tin</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">CID001458</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">PT Prima Timah Utama</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">INDONESIA</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 12pt"><B>*</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Tin</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">CID001463</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">PT Sariwiguna Binasentosa</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">INDONESIA</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 12pt"><B>*</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Tin</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">CID001468</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">PT Stanindo Inti Perkasa</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">INDONESIA</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 12pt"><B>*</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Tin</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">CID002816</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">PT Sukses Inti Makmur</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">INDONESIA</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 12pt"><B>*</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Tin</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">CID001477</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">PT Timah (Persero) Tbk Kundur</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">INDONESIA</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 12pt"><B>*</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Tin</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">CID001482</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">PT Timah (Persero) Tbk Mentok</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">INDONESIA</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 12pt"><B>*</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Tin</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">CID001490</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">PT Tinindo Inter Nusa</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">INDONESIA</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 12pt"><B>*</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Tin</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">CID001493</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">PT Tommy Utama</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">INDONESIA</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 12pt"><B>*</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Tin</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">CID001898</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">Thaisarco</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">THAILAND</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 12pt"><B>*</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Tin</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">CID002036</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">White Solder Metalurgia e Minera&ccedil;&atilde;o Ltda.</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">BRAZIL</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 12pt"><B>*</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Tin</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">CID002180</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">Yunnan Tin Company Limited</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">CHINA</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 12pt"><B>*</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Tin</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">CID002158</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">Yunnan Chengfeng Non-ferrous metals Co., Ltd.</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">CHINA</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 12pt"><B>*</B></FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-size: 12pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-size: 12pt"><B>*</B></FONT>On the RMI Conformant smelter list for TIN,
which includes smelters undergoing current re-audits</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>RISK MITIGATION</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">The Company expects to take the following steps, among others, to improve its due diligence
measures and to further mitigate the risk that the necessary Conflict Minerals contained in the Company&rsquo;s supply chain benefit
armed groups in the Covered Countries: (i) continuing to engage with suppliers to obtain current, accurate and complete information
about the supply chain; (ii) reviewing &ldquo;conformant&rdquo; smelter lists from independent &ldquo;conformant&rdquo; smelter
validation programs; and (iii) encouraging suppliers to implement responsible sourcing.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">UFP has provided information as of the date of this report. Subsequent events, such as
the inability or unwillingness of any suppliers, smelters or refiners to comply with UFP&rsquo;s Conflict Minerals Policy, may
affect UFP&rsquo;s future determinations under Rule 13p-1.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Website addresses are included in this report for reference only. Any information contained
on UFP&rsquo;s website is not incorporated by reference into this report.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>FORWARD-LOOKING STATEMENTS</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 60pt 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Certain statements in this report may be &ldquo;forward-looking&rdquo; within the meaning
of the Private Securities Litigation Reform Act of 1995. Words such as &ldquo;intends,&rdquo; &ldquo;expects,&rdquo; &ldquo;plans,&rdquo;
&ldquo;believes,&rdquo; &ldquo;estimates,&rdquo; &ldquo;anticipates,&rdquo; and similar expressions are used to identify these
forward-looking statements. Examples of forward-looking statements include statements relating to the Company's future plans, and
any other statement that does not directly relate to any historical or current fact. Forward-looking statements are based on the
Company's current expectations and assumptions, which may not prove to be accurate. These statements are not guarantees and are
subject to risks, uncertainties and changes in circumstances that are difficult to predict. Actual outcomes and results may differ
materially from these forward-looking statements. As a result, these statements speak only as of the date they are made and we
undertake no obligation to update or revise any forward-looking statement, except as required by federal securities laws.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>



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