<SEC-DOCUMENT>0001174947-17-000859.txt : 20170512
<SEC-HEADER>0001174947-17-000859.hdr.sgml : 20170512
<ACCEPTANCE-DATETIME>20170512092940
ACCESSION NUMBER:		0001174947-17-000859
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20170509
ITEM INFORMATION:		Submission of Matters to a Vote of Security Holders
ITEM INFORMATION:		Other Events
FILED AS OF DATE:		20170512
DATE AS OF CHANGE:		20170512

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			STURM RUGER & CO INC
		CENTRAL INDEX KEY:			0000095029
		STANDARD INDUSTRIAL CLASSIFICATION:	ORDNANCE & ACCESSORIES, (NO VEHICLES/GUIDED MISSILES) [3480]
		IRS NUMBER:				060633559
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-10435
		FILM NUMBER:		17836647

	BUSINESS ADDRESS:	
		STREET 1:		1 LACEY PLACE
		CITY:			SOUTHPORT
		STATE:			CT
		ZIP:			06490
		BUSINESS PHONE:		2032597843

	MAIL ADDRESS:	
		STREET 2:		1 LACEY PLACE
		CITY:			SOUTHPORT
		STATE:			CT
		ZIP:			06490
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8k-17919_rgr.htm
<DESCRIPTION>8-K
<TEXT>
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<P STYLE="margin: 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM 8-K</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of the</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Securities Exchange Act of 1934</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Date of Report (Date of earliest event reported)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>May 9, 2017</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Exact Name of Registrant as Specified in its
Charter)</P>

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

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 35%; padding-right: 4pt; padding-left: 4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>DELAWARE</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(State or Other Jurisdiction of Incorporation)</P></TD>
    <TD STYLE="width: 33%; padding-right: 4pt; padding-left: 4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>001-10435</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Commission File Number)</P></TD>
    <TD STYLE="width: 32%; padding-right: 4pt; padding-left: 4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>06-0633559</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(IRS Employer Identification Number)</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 66%; padding-right: 5.4pt; font-weight: bold; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">ONE LACEY PLACE, SOUTHPORT, CONNECTICUT</FONT></TD>
    <TD STYLE="width: 34%; padding-right: 5.4pt; font-weight: bold; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">06890</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">(Address of Principal Executive Offices)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">(Zip Code)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Registrant&rsquo;s telephone number, including
area code <B>(203) 259-7843</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions
(<I>see</I> General Instruction A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Wingdings">o</FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif">Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Wingdings">o</FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Wingdings">o</FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d 2(b))</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Wingdings">o</FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))</FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Page 1 of 4</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 5.07</B></TD><TD><B>Submission of Matters to a Vote of Security Holders</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">At the Company&rsquo;s Annual Meeting of
Shareholders on May 9, 2017 (the &ldquo;Annual Meeting&rdquo;), the shareholders voted on the following  five proposals and
cast their votes as described below.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0">Proposal 1</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-indent: 48.95pt">The individuals listed below were elected
at the Annual Meeting to serve a one-year term on the Company&rsquo;s Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-indent: 48.95pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: justify">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Votes For</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Votes Withheld</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Uncast</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: justify">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: right">&nbsp;</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: right">&nbsp;</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: right">&nbsp;</TD><TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="width: 61%; text-align: left">John A. Cosentino, Jr.</TD><TD NOWRAP STYLE="width: 1%">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD><TD NOWRAP STYLE="width: 10%; text-align: right">9,425,530</TD><TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD><TD NOWRAP STYLE="width: 1%">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD><TD NOWRAP STYLE="width: 10%; text-align: right">244,422</TD><TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD><TD NOWRAP STYLE="width: 1%">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD><TD NOWRAP STYLE="width: 10%; text-align: right">0</TD><TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="text-align: left">Michael O. Fifer</TD><TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">9,600,721</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">69,231</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">0</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="text-align: left">Sandra S. Froman</TD><TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">9,577,582</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">92,370</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">0</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="text-align: left">C. Michael Jacobi</TD><TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">9,419,845</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">250,107</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">0</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="text-align: left">Christopher J. Killoy</TD><TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">9,603,068</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">66,884</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">0</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="text-align: left">Terrence G. O&rsquo;Connor</TD><TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">9,601,298</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">68,654</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">0</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="text-align: left">Amir P. Rosenthal</TD><TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">9,464,585</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">205,367</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">0</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="text-align: left">Ronald C. Whitaker</TD><TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">9,565,898</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">104,054</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">0</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="text-align: left">Phillip C. Widman</TD><TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">9,585,056</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">84,896</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">0</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="text-align: justify">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="text-align: justify">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Non-Vote on each nominee: 5,903,675</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Proposal 2</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-indent: 48.95pt">Proposal 2 was a management proposal
to ratify the appointment of RSM US LLP as the Company&rsquo;s independent registered public accounting firm for 2017, as described
in the proxy materials. This proposal was approved.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 50%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Votes For</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Against</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Abstain</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 2%; text-align: left">&nbsp;</TD><TD STYLE="width: 32%; text-align: right">15,370,778</TD><TD STYLE="width: 2%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 2%; text-align: left">&nbsp;</TD><TD STYLE="width: 25%; text-align: right">146,021</TD><TD STYLE="width: 2%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 2%; text-align: left">&nbsp;</TD><TD STYLE="width: 25%; text-align: right">56,828</TD><TD STYLE="width: 2%; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Proposal 3</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-indent: 48.95pt">Proposal 3 was a proposal to approve the Sturm, Ruger &amp; Company, Inc. 2017 Stock Incentive Plan, as described
in the proxy materials. This proposal was approved.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 60%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Votes For</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Against</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Abstain</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Non-Votes</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 23%; text-align: right">9,245,156</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 22%; text-align: right">373,975</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 22%; text-align: right">50,821</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 22%; text-align: right">5,903,675</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
</TABLE>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Proposal 4</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-indent: 48.95pt">Proposal 4 was a management proposal
to hold an advisory vote on the compensation of the Company&rsquo;s named executive officers.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 60%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Votes For</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Against</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Abstain</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Non-Votes</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 23%; text-align: right">9,164,166</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 22%; text-align: right">425,430</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 22%; text-align: right">80,356</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 22%; text-align: right">5,903,675</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Proposal 5</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-indent: 48.95pt">Proposal 5 was a management proposal
regarding the frequency of future advisory votes on the compensation of the Company&rsquo;s named executive officers. A majority
of the votes were cast in favor of &ldquo;1 year.&rdquo;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 70%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Votes For 1 Year</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Votes for 2 Years</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Votes for 3 Years</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Abstain</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Non-Votes</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 18%; text-align: right">8,909,233</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 17%; text-align: right">97,780</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 17%; text-align: right">526,901</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 17%; text-align: right">136,038</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 17%; text-align: right">5,903,675</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Based on these results, and consistent with the Company&rsquo;s
recommendation, the Board of Directors has determined that the Company will hold an advisory vote on executive compensation every
year.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 8.01. Other Events</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The transcript of the <FONT STYLE="font-family: Times New Roman, Times, Serif">Annual
Meeting </FONT>is included as Exhibit 99.1 to this Current Report on Form 8-K.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The information in this Current Report on Form
8-K (including the exhibit) is furnished pursuant to Item 8.01 and shall not be deemed to be &ldquo;filed&rdquo; for the purpose
of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. The
disclosure of the transcript of the <FONT STYLE="font-family: Times New Roman, Times, Serif">Annual Meeting </FONT>on this Current
Report on Form 8-K will not be deemed an admission as to the materiality of any information in this Current Report on Form 8-K
(including the exhibit) that is required to be disclosed by Regulation FD.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The text included with this Current Report
on Form 8-K is available on our website located at <U>Ruger.com/corporate</U>, although we reserve the right to discontinue that
availability at any time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0.5in">Certain statements contained
in this Current Report on Form 8-K (including the exhibit) may be deemed to be forward-looking statements under federal securities
laws, and we intend that such forward-looking statements be subject to the safe harbor created thereby. Such forward-looking statements
include, but are not limited to, statements regarding market demand, sales levels of firearms, anticipated castings sales and earnings,
the need for external financing for operations or capital expenditures, the results of pending litigation against the Company,
the impact of future firearms control and environmental legislation, and accounting estimates. Readers are cautioned not to place
undue reliance on these forward-looking statements, which speak only as of the date made. The Company undertakes no obligation
to publish revised forward-looking statements to reflect events or circumstances after the date such forward-looking statements
are made or to reflect the occurrence of subsequent unanticipated events.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1in; text-decoration: underline"><U>Exhibit No</U>.</TD>
    <TD STYLE="text-decoration: underline"><U>Description</U></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">99.1</TD>
    <TD STYLE="text-align: left">Transcript of the Annual Meeting of Shareholders held on May 9, 2017.</TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">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 undersigned hereunto duly authorized.</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif">STURM, RUGER &amp; COMPANY, INC.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 2.5in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">By:&nbsp;&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">S/ THOMAS A. DINEEN</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Name:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Thomas A. Dineen</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Title:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Principal Financial Officer,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Principal Accounting Officer,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Treasurer and Chief Financial</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Officer</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Dated: May 12, 2017</P>

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



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<TR STYLE="vertical-align: top; background-color: #006595">
    <TD STYLE="border-bottom: #006595 1pt solid; padding-right: 0.25in; padding-left: 0.25in; text-align: left; font-size: 10pt; font-variant: small-caps; color: #003399; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 18pt; font-weight: normal; font-variant: normal; color: white">RGR - Sturm Ruger &amp; Company Inc Annual Shareholders Meeting</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #006595">
    <TD STYLE="border-bottom: #006595 1pt solid; padding-right: 0.25in; padding-left: 0.25in; text-align: left; font-size: 10pt; font-variant: small-caps; color: #003399; font-weight: bold">&nbsp;</TD></TR>
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    <!-- Field: /Page -->




<P STYLE="color: #003399; font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="color: #6B9915; font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-transform: uppercase">CORPORATE
PARTICIPANTS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 4pt; text-align: left">Charles Michael Jacobi <FONT STYLE="font-weight: normal"><I>Sturm,
Ruger &amp; Company, Inc. - Chairman</I></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 4pt; text-align: left">Christopher J. Killoy <FONT STYLE="font-weight: normal"><I>Sturm,
Ruger &amp; Company, Inc. - CEO, President, COO and Director</I></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 4pt; text-align: left">John A. Cosentino, Jr. <FONT STYLE="font-weight: normal"><I>Sturm,
Ruger &amp; Company, Inc. - Vice-Chairman and Lead Director</I></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 4pt; text-align: left">Kevin B. Reid, Sr. <FONT STYLE="font-weight: normal"><I>Sturm,
Ruger &amp; Company, Inc. - VP, General Counsel and Corporate Secretary</I></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 4pt; text-align: left">Ronald C. Whitaker <FONT STYLE="font-weight: normal"><I>Sturm,
Ruger &amp; Company, Inc. - Director</I></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 4pt; text-align: left">Sandra S. Froman <FONT STYLE="font-weight: normal"><I>Sturm,
Ruger &amp; Company, Inc. - Director</I></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 4pt; text-align: left">Amir P. Rosenthal <FONT STYLE="font-weight: normal"><I>Sturm,
Ruger &amp; Company, Inc. - Director</I></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 4pt; text-align: left">Michael O. Fifer <FONT STYLE="font-weight: normal"><I>Sturm,
Ruger &amp; Company, Inc. - Director</I></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 4pt; text-align: left">Thomas A. Dineen <FONT STYLE="font-weight: normal"><I>Sturm,
Ruger &amp; Company, Inc. - VPresident, Treasurer and CFO</I></FONT></P>

<P STYLE="color: #6B9915; font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-transform: uppercase">&nbsp;</P>

<P STYLE="color: #6B9915; font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-transform: uppercase">CONFERENCE
CALL PARTICIPANTS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 4pt; text-align: left">Rabbi Michael Friedman</P>

<P STYLE="color: #6B9915; font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-transform: uppercase">&nbsp;</P>

<P STYLE="color: #6B9915; font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-transform: uppercase">PRESENTATION</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">Charles Michael Jacobi
<I>- Sturm, Ruger &amp; Company, Inc. - Chairman </I></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Good
morning. Will the meeting come to order? I am Mike Jacobi, the Chairman of the Board of Sturm, Ruger &amp; Company, Inc. And it
is my pleasure on behalf of the directors and officers of Sturm, Ruger and Company, Inc. to welcome those present, including those
attending the meeting through our webcast, to the 2017 Annual Meeting of Stockholders.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">As
a reminder, please silence your cell phones during the meeting.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">At
this time, I would like to introduce the company's other directors and ask them to stand: John A. Cosentino, Jr., who is our Lead
Director and Vice Chairman; Michael O. Fifer; Sandra S. Froman; Christopher J. Killoy, who as of this morning is President and
CEO; Terrence G. O'Connor; Amir P. Rosenthal; Ronald C. Whitaker; and Phillip C. Widman.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Our
company officers, if they'll also stand: Thomas A. Dineen, Vice President, Treasurer and Chief Financial Officer; Mark T. Lang,
Group Vice President; Thomas P. Sullivan, Vice President of New Hampshire and North Carolina Operations; Kevin B. Reid Sr., Vice
President, General Counsel and Corporate Secretary; Shawn C. Leska, Vice President of Sales.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">I
would also like to introduce Jeffrey LaGueux and Craig Dent, outside counsel from Patterson Belknap Webb &amp; Tyler; Andy Warren
and Brian DiPaola, our independent auditors from RSM US LLP, who are available after the meeting to answer any appropriate questions
you may have; and Philip Meyer, our stock transfer agent from Computershare Investor Services.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">In
fairness to all stockholders attending the meeting or listening to the webcast, and in the interest of having a fair, informative
orderly and constructive meeting, the following rules of conduct and procedure will apply. All stockholders, proxyholders or other
authorized representatives must register at the reception desk before entering the room for the meeting. The use of cameras, sound
recording equipment, communication devices and any other similar equipment is prohibited without the express written permission
of the company. Only stockholders of record of the company's common stock on March 15, 2017, or their proxy holders, are entitled
to vote at the meeting.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Similarly,
only stockholders of record or the proxy holders may address the floor during the question-and-answer period when the Chairman
indicates the floor is open for discussion or questions, which will be at the end of the meeting.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Stockholder
questions or remarks must be relevant to the meeting, pertinent to matters properly before the meeting, and briefly stated within
the maximum time limit of 2 minutes. The meeting is not to be used as a forum to present general economic, political or other views
that are not directly related to the business of the company. The views and comments of all stockholders are welcome. However,
the purpose of the meeting will be observed, and the Chairman will stop discussions that are irrelevant to the business of the
company or the conduct of its operations, related to pending or threatened litigation, derogatory references that are not in good
taste, unduly prolonged longer than 2-minute presentations or questions, substantially repetitious of statements made by other
stockholders or related to general -- to personal grievances.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: bottom; background-color: #006595"><TD STYLE="width: 100%; padding-top: 2pt; padding-bottom: 4pt; text-align: left; font: small-caps bold 10pt Arial, Helvetica, Sans-Serif; color: rgb(0,51,153)"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; font-variant: normal; color: white">&nbsp;&nbsp;&nbsp;MAY 09, 2017 / 01:00PM&nbsp;&nbsp;GMT, RGR - Sturm Ruger &amp; Company Inc Annual Shareholders Meeting</FONT></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->


<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal"></FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">If
there is any matter that is of individual concern to a stockholder and it is not an appropriate subject matter for general discussion,
please defer discussion of such matter until after the meeting. At that time, or some other mutually convenient time, an officer
of the company will be available to meet with stockholders to discuss such matters. You may also contact the company following
the stockholder meeting by calling (203) 259-7843 and selecting the Investor Relations option.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">The
Chairman of the meeting shall have the authority necessary to preside over the meeting and may make any and all determinations
with respect to the conduct of the meeting and procedures to be followed during the meeting. The Chairman will consider the violation
of these rules cause for expulsion from the meeting. In the event of disorder, the Chairman may immediately adjourn the meeting
and declare the polls open for such period of time as he may determine to receive votes by proxy or ballot on items of business
properly before the meeting. Thank you for your cooperation.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">We
will now conduct the regular business of the meeting followed by Chris Killoy's presentation to the stockholders and a question-and-answer
period. Our agenda for the formal matters to be brought before the stockholders today will be as follows: One, to take care of
the necessary appointments and documentations for the meeting; two, to establish a quorum; and three, to take votes on the items
of business properly brought before the meeting.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">These
items of business are: one, to elect nine directors to serve on the Board of Directors for the ensuing year; two, to ratify the
appointment of RSM US LLP as the company's independent auditors for the 2017 fiscal year; three, to approve the Sturm, Ruger &amp;
Company, Inc. 2017 stock incentive plan; four, to hold any advisory vote -- to hold an advisory vote on the compensation of the
company's named executive officers; five, to hold an advisory vote on the frequency of future advisory votes on compensation of
the company's named executive officers; and six, any other business as may properly come before the annual meeting or any adjournment
or postponement thereof.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">As
the company's By-Laws provide, I will act as Chairman and conduct the meeting. Corporate Secretary, Kevin B. Reid, Sr., will act
as secretary of the meeting and was appointed as Inspector of Elections before the meeting. As inspector, Mr. Reid will determine
the presence of a quorum and serve as judge on all matters requiring a stockholder vote at this meeting.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Let
the meeting of today's -- let the minutes of today's meeting show all of the documents concerning the call and notice of this meeting
and available -- are available here for inspection by any stockholder and will be filed with the records of the company, including
a copy of the notice of availability of proxy materials; affidavit of mailing certifying that the proxy materials were mailed to
the stockholders of record of the company; the signed oath and report of the Inspector of Elections; and a list of registered stockholders
entitled to vote at this meeting.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">We
have previously supplied each stockholder of record with a notice regarding availability of proxy materials that contained instructions
on how to access the company's Proxy Statement and Form 10-K. Extra copies of these documents are available in the back of the
room. Additional Proxy forms are available for anyone here who has not submitted a Proxy and would like to do so, or for anyone
here who has submitted a Proxy that he or she would like to change. If so, please see Philip Meyer of Computershare at this time.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">If
you are voting in person today, you may give your Proxy form to Mr. Meyer at any time during this meeting, up until the vote is
closed on the voting matter. In the interest of time, we encourage you to do so as soon as possible.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">We
would ask that all those present at the meeting sign the attendance book after the meeting is adjourned, if they have not already
done so. The By-Laws of the company provide that a majority of the voting stock shall constitute a quorum for the transaction of
business at this meeting based on proxies and stockholders present.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Mr.
Reid, may we have the report of the Inspector of Elections on whether or not a quorum is present?</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">Kevin B. Reid, Sr. <I>-
Sturm, Ruger &amp; Company, Inc. - VP, General Counsel and Corporate Secretary </I></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Mr.
Chairman, the proxies received by the company in connection with the 2017 Annual Meeting of Stockholders of the company have been
examined and have been found to be in proper form, and there are present at the meeting in person or by proxy, at least 15,564,144
shares or 88.1% of the shares outstanding of the company which are entitled to vote, and such shares constitute a quorum for the
transaction of business at the meeting.</FONT></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: bottom; background-color: #006595"><TD STYLE="width: 100%; padding-top: 2pt; padding-bottom: 4pt; text-align: left; font: small-caps bold 10pt Arial, Helvetica, Sans-Serif; color: rgb(0,51,153)"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; font-variant: normal; color: white">&nbsp;&nbsp;&nbsp;MAY 09, 2017 / 01:00PM&nbsp;&nbsp;GMT, RGR - Sturm Ruger &amp; Company Inc Annual Shareholders Meeting</FONT></TD></TR></TABLE></DIV>
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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal"></FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">Charles Michael Jacobi
<I>- Sturm, Ruger &amp; Company, Inc. - Chairman </I></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Thank
you. Because a quorum is present, this meeting will proceed. Mr. Reid, were there any additional stockholder nominations or proposals
for business for this meeting properly filed with you as Corporate Secretary in accordance with the advance notice requirements
of the company's By-Laws other than those already mentioned?</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">Kevin B. Reid, Sr. <I>-
Sturm, Ruger &amp; Company, Inc. - VP, General Counsel and Corporate Secretary </I></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">No,
Mr. Chairman, there were not.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">Charles Michael Jacobi
<I>- Sturm, Ruger &amp; Company, Inc. - Chairman </I></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">As
a result, the business of this meeting is limited to the matters set forth on the agenda. Detailed information on each of the proposals
is included in the Proxy Statement, copies of which are available in the back of the room.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">The
first order of business is to elect directors for the ensuing year. As indicated in the company's Proxy Statement, nine directors
will be elected at today's meeting. Those directors receiving the highest number of votes, or a plurality of votes, of shares present
in person or by proxy at this meeting will be elected as directors of the company to serve until the 2018 Annual Meeting of Stockholders
or until their successors are duly elected and qualified.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">As
indicated in the company's Proxy Statement, the Board of Directors has nominated the following persons to serve as Directors: Myself,
C. Michael Jacobi; John A. Cosentino, Jr.; Michael O. Fifer; Sandra S. Froman; Christopher J. Killoy; Terrence G. O'Connor; Amir
P. Rosenthal; Ronald C. Whitaker; and Phillip C. Widman. The company's By-Laws require that a stockholder give advance notice to
the company in order to nominate any person as a director. Because no such notice was received, I hereby declare the nominations
for directors closed.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">The
second order of business on the agenda is the ratification of the board's appointment of RSM US LLP as the company's independent
auditors for the 2017 fiscal year. The affirmative vote of at least a majority of the shares entitled to vote and represented in
person or by proxy at this meeting is required to ratify the appointment of RSM US LLP as our independent auditors for the 2017
fiscal year.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">At
this time, I call upon John A. Cosentino, Jr., a member of our Audit Committee for the Audit Committee's recommendation.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">John A. Cosentino, Jr.
<I>- Sturm, Ruger &amp; Company, Inc. - Vice-Chairman and Lead Director </I></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Mr.
Chairman, I move that the action of the Board of Directors in selecting RSM US LLP as the independent registered public accounting
firm for the company for the 2017 fiscal year be ratified and approved.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">Charles Michael Jacobi
<I>- Sturm, Ruger &amp; Company, Inc. - Chairman </I></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">May
I have a second?</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">Amir P. Rosenthal <I>-
Sturm, Ruger &amp; Company, Inc. - Director </I></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">I
second the motion.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">Charles Michael Jacobi
<I>- Sturm, Ruger &amp; Company, Inc. - Chairman </I></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Are
there any remarks on the selection of the independent auditors?</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">The
third order of business on the agenda is the approval of the Sturm, Ruger &amp; Company, Inc. 2017 stock incentive plan. The affirmative
vote of at least a majority of the shares entitled to vote and represented in person or by proxy at this meeting is required to
approve the Sturm, Ruger &amp; Company, Inc.'s 2017 stock incentive plan.</FONT></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: bottom; background-color: #006595"><TD STYLE="width: 100%; padding-top: 2pt; padding-bottom: 4pt; text-align: left; font: small-caps bold 10pt Arial, Helvetica, Sans-Serif; color: rgb(0,51,153)"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; font-variant: normal; color: white">&nbsp;&nbsp;&nbsp;MAY 09, 2017 / 01:00PM&nbsp;&nbsp;GMT, RGR - Sturm Ruger &amp; Company Inc Annual Shareholders Meeting</FONT></TD></TR></TABLE></DIV>
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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal"></FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">At
this time, I call upon Ronald C. Whitaker, the Chairman of the Compensation Committee, for the Compensation Committee's recommendation.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">Ronald C. Whitaker <I>-
Sturm, Ruger &amp; Company, Inc. - Director </I></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Mr.
Chairman, I move that the Sturm, Ruger &amp; Company, Inc. 2017 stock incentive plan be approved.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">Charles Michael Jacobi
<I>- Sturm, Ruger &amp; Company, Inc. - Chairman </I></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">May
I have a second?</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">Amir P. Rosenthal <I>-
Sturm, Ruger &amp; Company, Inc. - Director </I></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">I
second the motion.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">Charles Michael Jacobi
<I>- Sturm, Ruger &amp; Company, Inc. - Chairman </I></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Are
there any remarks on the 2017 stock incentive plan?</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">The
fourth order of business on the agenda is an advisory vote to approve the compensation of the company's named executive officers
as described in the 2017 Proxy Statement, otherwise known as the &quot;say-on-pay&quot; vote. While the vote is not binding on
the board or the company, we will review the voting results and take them into consideration when making future decisions regarding
the compensation of our named executive officers. The affirmative vote of at least a majority of the shares entitled to vote and
represented in person or by proxy at this meeting is required to approve on an advisory basis the say-on-pay vote.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">At
this time, I call upon Sandra S. Froman, a member of the Compensation Committee, for the Compensation Committee's recommendation.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">Sandra S. Froman <I>-
Sturm, Ruger &amp; Company, Inc. - Director </I></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Mr.
Chairman, I move that the compensation of the company's named executive officers as described in the 2017 proxy statement be approved
by advisory vote of the stockholders of record of the company as of March 14, 2017.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">Charles Michael Jacobi
<I>- Sturm, Ruger &amp; Company, Inc. - Chairman </I></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">May
I have a second?</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">Ronald C. Whitaker <I>-
Sturm, Ruger &amp; Company, Inc. - Director </I></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">I
second the motion.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">Charles Michael Jacobi
<I>- Sturm, Ruger &amp; Company, Inc. - Chairman </I></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Are
there any remarks on the motion to approve the compensation of the company's named executive officers by advisory vote?</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">The
fifth order of business on the agenda is an advisory vote on the frequency of future advisory votes on compensation of the company's
named executive officers. While the vote is not binding on the board or the company, we will review the voting results and take
them into consideration when making future decisions regarding the frequency of advisory votes regarding the compensation of our
named executive officers. Voting shares are entitled to vote on frequency options of 1 year, 2 years or 3 years, or abstain from
voting.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: bottom; background-color: #006595"><TD STYLE="width: 100%; padding-top: 2pt; padding-bottom: 4pt; text-align: left; font: small-caps bold 10pt Arial, Helvetica, Sans-Serif; color: rgb(0,51,153)"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; font-variant: normal; color: white">&nbsp;&nbsp;&nbsp;MAY 09, 2017 / 01:00PM&nbsp;&nbsp;GMT, RGR - Sturm Ruger &amp; Company Inc Annual Shareholders Meeting</FONT></TD></TR></TABLE></DIV>
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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal"></FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">At
this time, I call upon John A. Cosentino, Jr., a member of the Compensation Committee, for the Compensation Committee's recommendation.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">John A. Cosentino, Jr.
<I>- Sturm, Ruger &amp; Company, Inc. - Vice-Chairman and Lead Director </I></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Mr.
Chairman, I move that future advisory votes on compensation of the company's named executive officers be held every year.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">Charles Michael Jacobi
<I>- Sturm, Ruger &amp; Company, Inc. - Chairman </I></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">May
I have a second?</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">Amir P. Rosenthal <I>-
Sturm, Ruger &amp; Company, Inc. - Director </I></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">I
second the motion.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">Charles Michael Jacobi
<I>- Sturm, Ruger &amp; Company, Inc. - Chairman </I></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Are
there any remarks on the frequency of advisory votes to approve the compensation of the company's named executive officers?</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">This
concludes discussion of all formal matters to be brought before the shareholders, and we will commence to vote on these matters.
The polls are open at 9:16 a.m.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">Kevin B. Reid, Sr. <I>-
Sturm, Ruger &amp; Company, Inc. - VP, General Counsel and Corporate Secretary </I></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">The
polls are open as of 9:16 a.m. on May 9, 2017, for each matter to be voted on.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">Charles Michael Jacobi
<I>- Sturm, Ruger &amp; Company, Inc. - Chairman </I></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">The
time has come to vote on the matters properly before the meeting. Ballots will be passed out to any stockholder who desires to
vote by ballot. There is no need for anyone to vote by ballot if he or she has already voted by proxy.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">Kevin B. Reid, Sr. <I>-
Sturm, Ruger &amp; Company, Inc. - VP, General Counsel and Corporate Secretary </I></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Is
there anyone here who wishes to vote by ballot who has not already done so? The polls for all voting matters are now closed as
of 9:17 a.m. on May 9, 2017.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">Charles Michael Jacobi
<I>- Sturm, Ruger &amp; Company, Inc. - Chairman </I></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">The
voting is complete. Accordingly, I will now ask the Inspector of Elections for a report on each vote.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">Kevin B. Reid, Sr. <I>-
Sturm, Ruger &amp; Company, Inc. - VP, General Counsel and Corporate Secretary </I></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Mr.
Chairman, we have completed the tabulation of votes with the following results. On the first proposal, the election of directors,
I report that the following nominees have been elected as directors of the company to serve until the next Annual Meeting of Stockholders
by a majority of the shares present and voting. These are: C. Michael Jacobi; John A. Cosentino, Jr.; Michael O. Fifer; Sandra
S. Froman; Christopher J. Killoy; Terrence G. O'Connor; Amir P. Rosenthal; Ronald C. Whitaker; and Phillip C. Widman.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">On
the second proposal, the ratification of the independent auditors for 2017, I report that a majority of the votes present and voting
were cast &quot;FOR&quot; the approval of RSM US LLP as the company's independent registered public accounting firm for 2017, and
their selection is therefore ratified.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: bottom; background-color: #006595"><TD STYLE="width: 100%; padding-top: 2pt; padding-bottom: 4pt; text-align: left; font: small-caps bold 10pt Arial, Helvetica, Sans-Serif; color: rgb(0,51,153)"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; font-variant: normal; color: white">&nbsp;&nbsp;&nbsp;MAY 09, 2017 / 01:00PM&nbsp;&nbsp;GMT, RGR - Sturm Ruger &amp; Company Inc Annual Shareholders Meeting</FONT></TD></TR></TABLE></DIV>
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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal"></FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">On
the third proposal, the approval of the Sturm, Ruger and Company, Inc. 2017 stock incentive plan, I report that a majority of the
votes present and voting were cast &quot;FOR&quot; the approval of the 2017 stock incentive plan, and the plan is therefore approved.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">On
the fourth proposal, the advisory vote on the compensation of the named executive officers as presented in the proxy statement,
I report that a majority of the advisory votes present and voting were cast &quot;FOR&quot; the approval of the compensation of
the company's named executive officers.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">On
the fifth proposal, the advisory vote on the frequency of votes on the compensation of named executive officers, I report that
a majority of the votes -- advisory votes present and voting were cast for a voting frequency of 1 year.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">Charles Michael Jacobi
<I>- Sturm, Ruger &amp; Company, Inc. - Chairman </I></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Thank
you, Mr. Reid. The chair declares that all proposals have passed by a majority of votes cast. I now direct that Mr. Reid prepare
a written report of the results of the election to be incorporated into the minutes of this meeting and included in a Form 8-K.
This concludes the formal business of the meeting.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Before
turning the meeting over to Chris Killoy, I would like to make remarks about two individuals who are very important to the success
of the company. As you heard earlier, Chris Killoy has assumed the role of President and Chief Executive Officer this morning;
and Mike Fifer retired this morning, but we're very happy to report that Mike is remaining on the Board of Directors. He has been
a key driver of not only many aspects of the company, but also new product development, and Mike is going to have a special role
with the company to continue those efforts.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">I
just wanted to mention a couple of the -- of Mike's accomplishments during the almost 11 years that he served as the CEO. The market
capitalization of this company has increased 10x since Mike became CEO from approximately $100 million to about $1 billion and
with the considerably fewer shares outstanding at this time. The number of firearms manufactured during that period were almost
14 million, revenues increased from about $150 million a year to where we are today.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Total
revenues during that 10-year period is $4.1 billion. The cash returned to shareholders has been $362 million during that period.
And another point that Mike and the board are very proud of is that our -- all of our employees participate in our incentive plans
and our profit-sharing plan, every employee in the company, and we have paid out $119 million to those employees during that time.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">So
I think we all owe Mike a deep debt of gratitude for his leadership. He would think it remiss if I didn't mention that this leadership
-- all of these accomplishments, were really the result of a team effort by Mike and his senior management team, which by the way
is the same team that he started with almost 11 years ago. This is not a company that churns a lot of people. And there are a few
people on that team that have developed during that time and been promoted up into their current position. But Mike is also a firm
believer that every employee in this company is a contributor right down to the newest and lowest employee that we have in the
company. So Mike, we congratulate you, and we want to thank you for all your contributions.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">And
Mike mentioned that one other contribution that -- an important contribution of Mike's was the nurturing and development of Chris
as -- to succeed him as the CEO. This, of course, is a very important subject for the board, and we're very happy to have Chris
as our new CEO.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">The
other person I wanted to mention was Admiral James Service. He was Chairman before me. He was irreplaceable. His shoes were too
big for any of us to fill I think. But -- Admiral Service passed away in February. He had a noted career as a -- he would like
to be called a naval aviator. He was, in fact, a three-star admiral. And I'll just mention a few of his accomplishments.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">He
flew over 120 combat missions during Korean and Vietnam, and was commander of the -- I think it was the battle force during Vietnam.
He was a highly accomplished naval officer. He was President of the Naval War College. He was qualified on 63 types of aircraft,
and he was the most senior pilot in the Navy that was still flying as a three-star admiral. But he was not just a fine naval officer,
he was also a very astute businessman. And he was the key individual transitioning this company from a family-run company to what
it is today with a highly talented group of independent directors and management team, and very much instrumental in bringing Mike
Fifer to the company. And he was an astute businessman, but also he was an outstanding judge of people. So we also owe him a great
debt of gratitude. We miss him. And he was a -- well, I guess, the best way to put it is that he was just a nice person. So if
we could also express our gratitude to Admiral Service.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">So
with that, I will pass the meeting on to Chris Killoy for his presentation.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">Christopher J. Killoy
<I>- Sturm, Ruger &amp; Company, Inc. - CEO, President, COO and Director </I></P>

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

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Good
morning. My name is Chris Killoy. I'd like to welcome you, again, to the Annual Meeting of Shareholders. The objective of our investor
communications is to provide information to help you determine the intrinsic value of the company so that you can decide whether
to buy, sell or hold and continue to enjoy your investment in the company. This presentation, a review of 2016 and the first quarter
of 2017 is intended to supplement the more detailed information regularly provided in the 10-Q and 10-K filings, which I strongly
encourage you to read thoroughly.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Kevin,
if you would read our cautionary statement?</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">Kevin B. Reid, Sr. <I>-
Sturm, Ruger &amp; Company, Inc. - VP, General Counsel and Corporate Secretary </I></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Sure.
We just want to remind everyone that statements made in the course of the meeting that state the company's or management's intentions,
hopes, believes, expectations or predictions of the future are forward-looking statements. It is important to note that the company's
actual results could differ materially from those projected in such forward-looking statements. Additional information concerning
factors that could cause actual results to differ materially from those in the forward-looking statements is contained from time-to-time
in the company's SEC filings, including, but not limited to, the company's reports on Form 10-Q for the year ended December 31,
2016, and -- excuse me, Form 10-K for the year ended December 31, 2016, and Form 10-Q for the fiscal quarter ended April 1, 2017.
Copies of these documents may be obtained by contacting the company or the SEC or on the company's website at www.ruger.com/corporate
or of course the SEC website at www.sec.gov.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">We
do reference non-GAAP EBITDA. Please note that the reconciliation of GAAP net income to non-GAAP EBITDA can be found in our Form
10-K for the year ended December 31, 2016, and our Form 10-Q for the quarter ended April 1, 2017, which are also provided on our
website. Furthermore, the company disclaims all responsibility to update forward-looking statements.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">Christopher J. Killoy
<I>- Sturm, Ruger &amp; Company, Inc. - CEO, President, COO and Director </I></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">All
right. Before we get rolling, I'd just like to thank the board for expressing confidence in me to be named as your new CEO and
especially to Mike Fifer for his leadership, mentorship and guidance over the many years he's been at Ruger and been my friend
and mentor for -- through that period. So thank you again, Mike.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">All
right. A little bit of background on the company, where we are today and some of the things going on. Just a little bit about my
background. And Kevin, you know I know I should have proper eyes and ears, but this is 1964, my grandfather who taught me to shoot
long time ago, probably wasn't aware of those safety regulations. But I've enjoyed firearms, I've enjoyed shooting, I've enjoyed
the sport for a number of years.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Like
Mike, I'm a Military Academy graduate. Mike was in the naval academy. I was from West Point, served in a variety of armory and
infantry assignments on active duty and then another 15 years in the Army Reserve. I've got about 28 years currently in the firearms
industry. I've had experience at Smith &amp; Wesson, in sales and marketing positions there, as well as Savage Arms running their
Range Systems divisions.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Since
joining Ruger in 2006, I actually -- this is my second tour of duty. The first time I came to Ruger was for about 13 months under
the previous administration. And then in 2006, when Mike joined the company, I think possibly with Admiral Service and Mike together,
they asked me to come back to the company. I was very pleased to do so, and it's been a great experience for me and hopefully for
the company.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Our
company, as most of you know, was founded in 1949 by William B. Ruger, Sr. We make -- we're very proud of what we do. We make great
firearms. We make a lot of them, and we have great customers. And again, we always consider our corporate motto: Arms Makers for
Responsible Citizens.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">The
thing we're most proud of, however, is our employees and how we go to market. We've got 600 American firearm models that we make
in over 10 different product categories. We sell through the two-step distribution model. I'll talk about that a little bit later.
We sell to approximately 18 domestic distributors. Those are the names you're most familiar with. People like Davidson's, Lipsey's,
things of that nature. We also have 24 law enforcement distributors and 42 different export distributors around the world.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">We're
manufactured in American factories, right here in the U.S.: Newport, New Hampshire; Mayodan, North Carolina; Prescott, Arizona,
and just outside St. Louis, Missouri, where we have a metal injection molding facility.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">And
most importantly, our employees. We have over 2,000 great non-union employees. Shown here at a recent NRA event, representing all
our factories, folks in New Hampshire, Mayodon and Arizona, and again, very, very proud of our folks. This is what makes Ruger
different, and this is what I think sets us apart from so many of our competitors.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal"></FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">We've
got a consistent game plan. The firearms market, as we'll look at in a moment is -- has its ups and downs. So this is a volatile
industry. We've got a consistent game plan in good times and in bad. We like to think we've demonstrated constancy of purpose in
both growing and contracting markets.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">A
little bit on where the market is today and where we've been. A little bit of a history lesson, if you will. As I noted, I've been
around this business since 1989, when I joined Smith &amp; Wesson. So I've seen lots of business come, lots of business go, seen
a lot of people come and go. If we look at the firearms sales in the U.S. over this time period, this is actually '91 to 2015,
lots of up and down. Generally, the slope of the line is going up, but I would tell you that line is not a -- that's not a mathematically
derived perfect line. That's a general trend line. This is units of firearms available. So this is units produced in the U.S. plus
exports -- excuse me, plus imports, minus exports.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">The
other way we have a measuring market size and shape in the U.S. is federal excise tax collected. As some of you know, excise tax
is collected on every firearm sold, as well as ammunition: 10% on handguns, 11% on long guns, meaning rifles and shotguns. So over
time, that's what those - what collections look like. That's the dollars going into this market. And you see, 2016, we closed the
year at slightly over $5 billion market.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Now
the other thing I'd point to you on this chart, while that line may be sloping up over time, there's about 25 data points in there.
If you go back year-over-year, 15 of those are year-over-year increases, 10 of those are year-over-year decreases. So we have lots
of up and down that we've seen. Frankly, from a percentage standpoint, we've seen -- people have talked about the change in the
firearms market since the November election. I would -- I think, I'd be fair in saying that the demise of the firearms industry
was likely -- greatly exaggerated. The firearms industry remains strong. Our customer base remains strong. The face of the firearms
industry compared to today versus '94, where we saw a big decline, '94, '95 and '96, is dramatically different. A lot more new
shooters, fresher faces, younger faces, more diverse faces, and people get out and enjoy our firearms sports and our shooting and
hunting traditions.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Another
little bit of history was the number of FFLs over time. FFLs are federally licensed firearms dealers that support our industry,
and that's where all firearms transactions take place going from a licensed retailer to the consumer. If you go back to again that
steep decline there, when you look at what was going on in '94, you had the September, you had the assault weapons ban enacted
that was in place for 10 years. You had a dramatic reduction in the FFLs, and that was under the Clinton and Reno administration,
big increase in licensing fees, big increases in regulations from the ATF standpoint. All of that contributed to some of that of
falloff you saw off from '94, '95, and '96.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">So
in essence there is, we've seen ups and downs before. This is not the first time the firearms industry has gone through a change,
be it up, be it down. We've seen this before, and over time, we'll likely see it again. The good news is over the last 10 years,
we've seen about a 30% increase in the FFLs over time. Now a lot of those are not retailers. Those are smaller manufacturers. So
we've seen a lot of new manufacturers enter the space.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Excuse
me. Now one of the things we talk about a lot is NICS checks or adjusted NICS checks as reported by the NSSF. The NSSF is our industry
trade association, the National Shooting Sports Foundation. So, adjusted NICS takes out things like permit checks and things like
that to try to make things as rational as possible when you look at year-over-year or month-over-month comparisons.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">The
thing about this -- this is actually monthly NICS checks over this time period from 2010 to 2016, again generally sloping up, generally
increasing, but what you see is a very, very repeatable pattern. The seasonality of our industry is very well defined, very well
predicted and pretty much understood by those of us in the business. That's why we always scratch our head a little bit when somebody
is surprised that, for example, May is softer than April or April is softer than March and vice versa. As you can tell from these
graphs, it always is. I mean, this is a normal seasonality we face in our business. We plan our business around it, and we're used
to it.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">However,
you've seen some severe spikes, December 2012, December '15, and those, again, we also deal with those spikes. Those are the ups
and downs we see over time. And things that we've seen this before. The good news is, over time, we see that slope generally moving
upwards and moving in the right direction. We see our customer base moving in the right direction.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Now
over that time period, in this case 2006 to the present, we take that adjusted NICS line and we compare Ruger's growth as defined
by distributors' sell-through. Distributors' sell-through is our distributors selling product to retailers. So that measurement
there over the course of that time period, adjusted NICS were doing great, up 198%. Ruger's growth? 415%. So we're very proud of
that, but once again, what we're most proud of is the people that contribute to that effort.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">The
way we do this is really three key things: our new product development focus, our lean business focus and our disciplined capital
management. In terms of new product development, it all starts with the customer. It really isn't that complicated. It's listen
to what the customer is wanting, listen to what the customer is looking for, but you have to go out and spend time with the customer.
You have to spend time getting your engineers plugged in at retail, your engineers plugged in with the distributors, understanding
what they're looking for, what makes our end-users tick, what makes our channel partners click.</FONT></P>

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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Our
engineers, I think, are the best in the business. Like I said, I've been doing this for almost 30 years. I've never seen a more
talented group of engineers with great ideas. Not all of them make their way into production, but they're all always thinking,
always trying to come up with the best solution for our customers, the best solution for Ruger. This is a team working up in our
New Hampshire facility, and we like that team environment. We get the creative juices flowing. We get more than one engineer together.
As Mike likes to say, they work best in teams of three or more. And sometimes a room like this, it literally is, these guys working
here round the clock sometimes throw them a couple of pizzas, and you will be amazed at what will come out at the end of the day.</FONT></P>

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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">We've
invested not only in equipment to make our products, but in the R&amp;D tools to help us develop. So for example shown here, a
lot of you've heard about 3D printing. We actually have a 3D printer that we use for wax. Investment casting using the lost wax
process. We'll use a 3D printer to print some of these wax prototypes, actually cast them, have near-finished product to be able
to test in our firearms and rapidly speed up the prototyping process. We do the same thing with our metal injection molding facility
out in St. Louis. They've also been very aggressive in moving forward in some really state-of-the-art ways to help us with the
prototype stage.</FONT></P>

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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">And
then we go out and test. This is the fun part of the business. All of us in this business, it's always easier if you enjoy the
products you're building, products you're designing. This is some folks doing product testing with a precision rifle. You can tell
on the fellow in the middle there with a smile on his face, that's what makes it great about this company. One of the things we
get to do with all our new products is we jury test, we call it, every new product coming down the line. So that means we take
out -- after the engineers are done shooting, then we have people in the office, whether they're from the accounting department,
whether they're clerical people, whether they're from sales and marketing, experienced shooters, less-experienced shooters, go
out and fire the product. Go through the instruction manual. Go through and see if it's clear. Go through and see if you can disassemble
and reassemble and clean the firearm as we think you should because we've been doing it for 30 years. We find all the time that
we can always do it better. So -- and I don't think we've gone through a single jury test we haven't either improved the product
or improved the process.</FONT></P>

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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">I
mentioned before we use two-step distribution. Two-step distribution means a majority of our products are sold to our 18 federally
licensed wholesalers. They do a great job for us. We know them personally. We know what makes them tick. They know what makes us
tick. It's a two-way street. It's not a &quot;one size fits all.&quot; Even though our orders may be non-cancelable, we don't run
our business in that manner. We look at the health of our distributors. We understand what they need, where their priorities are,
because those 18 distributors are servicing all the independent retailers in the country, not just a small mom-and-pop shop, but
the big box stores: Cabela's, Bass Pro, Academy, Gander Mountain, et cetera, all of those are served through our distributors.</FONT></P>

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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Those
distributors have a network of sales people, mostly they're telemarketing sales people. They're augmented by our in-the-field sales
staff. They do a great job working with them to connect with the retailer. And again, that's at the very sophisticated retailers
like Bass Pro and Cabela's all the way down in the mom-and-pop shops that you may be used to buying from in your home town.</FONT></P>

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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">We
do a product launch to our distributors. It's really a multi-media, multi-disciplined attack on all fronts. We like to go to --
work with our distributors, our retailers, our consumers, the writers, the bloggers. The world has changed so dramatically. When
I first got into the business, you were content with sending out a press release via fax to a bunch of writing -- writers and publishers.
Then you'd wait to see the articles. In our case, the things we do fundamentally different are we wait, number one, to make sure
the guns are ready to be shipped. We ideally want to have guns in inventory and start the shipments to our distributions before
we launch the product. Then we tell our distributors about it. Then we tell our retailers about it. Then we let consumers know.
Again, because the last thing you want to do is have a consumer show up at a retailer's shelf -- store and be excited about the
gun that you just read about or saw online and he can't buy them.</FONT></P>

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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">But
print in our industry is still alive and well, and print still drives a lot of sales. It's not dead as we see in a lot of other
industries. Again, we love to get the covers of magazines with great new products, and we get a lot of them. And we work hard to
do that. And a lot of that is, most importantly, having exciting new things for writers to write about. The other thing is working
closely with the writers, and we have a great team that does that in our sales and marketing group. But again, number one, first
and foremost, you got to have something cool to write about. So this is just a sample of some of the great guns, great covers we've
seen in 2016 and first quarter of 2017.</FONT></P>

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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">The
other part of a product launch and running our business is working with the retailers. Our field sales staff, as well as our distributors,
work very closely with retailers to support them when they're doing a promotion. A lot of times you'll see advertising for Ruger
Days. If you go on our website, you'll see what's going on in terms of local and regional events. You'll see where those promotions
are. If you get a chance -- if you're interested in the company, stop by one of those promotions.</FONT></P>

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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Talk
to the retailers. Talk to our sales folks who are there. They will give you impression of what's going well, what's not going well.
You'll see it first-hand. I always love sometimes when analysts talk about channel checks. Channel checks sounds good, sounds very
mathematical, sounds very refined. There's really no better way to check on how things are going in our channel or in our business
than to go to retail. The most -- the three most important feet of the entire distribution chain are across that glass counter.
And so we do those retail promotions. If you get a chance, go out and see what's going on at retail. I'm going to one this Thursday
at Larry's Pistol and Pawn in Huntsville, Alabama. So if anybody is from Huntsville, I'll be down there through the weekend.</FONT></P>

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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">And
then we back it up, whether it's a new product launch or existing products, we back it up with what we consider best-in-class customer
service. Again, I've been in the business for many, many years. Our customer service staff is superb. I can't say enough about
them. Whether it's an irate customer who just didn't understand maybe how to disassemble a gun or reassemble it, they can talk
them off the edge, calm them down, make it right. Our goal is to always make it right for the customer. And again, this is our
best tool. The salesman at Ruger will tell you one of their best resources is that customer service team.</FONT></P>

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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">And
again, new products. Over the past, it's actually 5 quarters, all 2016 and 2017, we like to think of our new products as new product
platforms, new product line extensions and then distributor exclusives, all of which are very important parts of our business.
New product platforms this year are the Mark IV Pistols and the silencer or suppressors. Mark IV pistol, dramatic change. Any of
you have experienced our Mark I, II or III pistols and try to put one back together, that has for years been our number one customer
service issue is reassembling that pistol. They're not that hard to get apart, but putting them back together could be a bear.</FONT></P>

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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">The
new Mark IV pistol changes that, quick push button disassembly, reassembly, totally revamping the line of semiautomatic pistols
that really started the company. If you remember that slide early on, that was the Ruger standard pistol in .22 caliber. That evolved
into what's been known as the Mark I, then a Mark II, Mark III and now we're on a Mark IV. Again, this pistol here traces its roots
to 1949 in the red barn in Southport. So any of you that took the train in or out, if you go by the Southport train station and
look behind it, you'll see the red barn, that's where the company started.</FONT></P>

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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Also
in the Mark IV line, the 22/45 product line, this has polymer frames. We have the other version that you saw before, the Mark IV,
in both steel and aluminum. We have some very cool looks. We have threaded barrels. We have the venting on the barrel shroud. And
people say, what's -- why did you do that? What's the technical reason for that? Is that to help cool the barrel? I say, no. That's
just -- that is just the technical term for that. That is just a high coefficient of cool. That is -- it makes it fun, draws attention
in the glass counter, and it's a great feeling and shooting gun.</FONT></P>

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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">The
silencer world, suppressors. Silent-SR, Sturm, Ruger, everybody get that? So that's where that come from. We started this up in
our factory at Newport, New Hampshire. This is not something we bought or acquired. This is something that we did. Our engineers
developed this line of suppressors, very sophisticated modeling and acoustical modeling software that they used to develop it.
Initially, out in the one you just saw the .22 caliber suppressor. Now the Silent-SR ISB, or integrally suppressed barrel, this
fits up with any of your 10/22 Takedowns. So the 10/22 Takedown was a very, very cool product. We took a gun that's been around
for many, many years, over 50 years. We now have the Takedown version, and now we have an integrally suppressed silencer that can
clock onto it.</FONT></P>

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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Now
this particular market as many of you may or may not know, there's bills in Congress to look at the what's called the Hearing Protection
Act. Right now that market is a little depressed just because a lot of people are waiting on the sidelines deciding whether they
should jump in and buy one of these products or wait until they could save their $200 tax stamp. We'd much prefer they go out and
spend the money and buy one now because once they see how much fun they'll have with this gun, that $200 is small price to pay.</FONT></P>

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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Line
extensions. Again, one of Ruger's strengths. When you look at our ability to rapidly produce different models that are not significant,
giant engineering changes, but line extensions. Things like on our Ruger American Pistol, adding a duty model with the manual safety.
Our duty models, we got the manual safety version. We've also got compact models. We've got calibers in 9 millimeter and .45. In
the 1911 family, which has been around for a while at Ruger, a target model with great adjustable sights, a Lightweight Commander
model in 9 millimeter. So again, flushing out that product line going for what started as a single SKU, the 1911 .45 Government
model to -- a full line in the 1911 family.</FONT></P>

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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">LC9s
the -- been one of our real champions out in Prescott, Arizona. They make -- we make a lot of these guns over the years. It's a
great gun. Adding things like these HIVIZ fiber optic front and rear sights.</FONT></P>

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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">LCP.
LCP, probably the most carried gun for concealed carry purposes, law enforcement backup throughput the country. The LCP is available
now as a standard model that we've had for a number of years as well as in laser-equipped models. And then the LCP II, which we
launched this year in a standard mobile and also with a laser with some refinements and enhancements at a slightly higher price
point. Both continue to do extremely well for us.</FONT></P>

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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Our
22 Charger in -- with a polymer stock in a Takedown or a standard model. Again, just a very cool gun. Go to the range, put it on
a bench. Put it out there. It's a. 22 caliber product. It takes all your 10/22 magazines, the BX-25, another gun you can have a
lot of fun with.</FONT></P>

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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">And
the AR platforms in state compliant models. Things like in Maryland and Colorado, where you have different laws that require different
magazine capacity, et cetera. As well as one in California we have very kind of obscure and obtuse regulations relating to certain
stock configurations. This one here produced with a HERA stock designed to make it legal and compliant in the State of California.</FONT></P>

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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">And
this year we also ventured down the road in November offering AR lowers. These are the bottom portion, this is the receiver, if
you will, of an AR Rifle that many of our customers like to build from the ground up. So that's made in our North Carolina factory.
We took that and went one step further and added what we call a loaded lower, where it's got the stock, it's got our elite trigger.
And again, for people who like to build and modify firearms, these are great, great platforms. Think of this as -- it's like the
10/22. It's like you think of a small-block Chevy, you can do a lot with this, and our customers like to start with the chassis
and build it out.</FONT></P>

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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">And
then we have a lot of things that are more mix and match. Things like the Mini 14 that's been around for a long time. Mix and match
with the hardwood stock with stainless. Same here in the Mini-30. Again, different combinations where you might have had that in
a blued configuration with a different stock, is just mixing and matching, giving the customers something to get excited about.</FONT></P>

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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">The
Gunsite Scout Rifle in a very popular caliber, the .450 Bushmaster. Very cool looking, very popular new caliber in Midwestern states
that have laws related to straight-walled cartridges for their deer hunting season. So this -- the .450 Bushmaster cartridge really
caught us by surprise, pleasant surprise, and we've got that not only in the scout rifle, but several of our other more traditional
hunting rifles in the American Rifle family.</FONT></P>

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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">The
Ruger Precision Rifle continues to be a rock star for us. Bolt-Action Rifle, again, conceived by our engineers up in Newport, New
Hampshire, very, very cool. We did it -- we came out with an enhanced version with a new forend, new muzzle brake, now we've added
some new calibers, the 6 millimeter Creedmoor, as well as a 5.56 NATO. Now the 6.5 Creedmoor and the .308 continue to be the mainstays.
The 6.5, in particular, continues to do extremely well for us with this product.</FONT></P>

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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Couple
of our American rifle platforms made now both in Newport, New Hampshire and Mayodan where we've got some new calibers, some new
configurations. You got a Predator model, ranch in .450 Bushmaster, again with a very cool muzzle brake. And then the Predator
with the Vortex rifle scope combination. A lot of these again, mix-and-match combinations. Calibers, scopes, stocks, things that
can give a retailer or a distributor a little bit extra margin and get the consumer excited to get off the couch, come into the
gun store and look at his next Ruger purchase.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Ruger
American Rimfire Target, again made down in Mayodan, very cool, using a laminate wood stock, threaded barrel, and I think we've
got one in the back if anyone wants to take a look at that. A lot of these guns are here today, if you'd like to take a look at
it in the back on the table. A couple of our folks are here and they'd be glad to go through them with you.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">On
the Hawkeye line, the Hawkeye FTW Hunter, again a little higher-end gun. Not to forget the Hawkeye line has been with the company
for many years. But again, line extensions, a camo dip stock in a particular pattern that, again, gets the customer excited. 10/22
Takedown light, another gun with a high coefficient of cool. You got the vented barrel. You got the Takedown configuration and
the threaded muzzle. Again, lots of fun. New twist on an old gun. The 10/22 has been around for a long time. I think we've sold
over 7 million of them over the years, but just a great, great product and continue, I think, in new ways to innovate.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">On
the revolver side, LCRs. The x configuration designates the external hammer. Different calibers: we've got .22 long rifle, the
three-inch, kind of that kit gun configuration, .357 Magnum with the external hammer. In our traditional double-action revolvers,
GP100 in a 5-shot .44 Special. Again, very popular. People have asked for that caliber over a number of years. The Redhawk, also
one of our traditional double-action products, 8-shot, .357 Magnum proved to be extremely popular with many of our customers.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">And
then I mentioned distributor exclusives. This is a real area where Ruger, I think, is best in class. We make distributor exclusives.
We work with our customers to find out what's going to give them an edge. When you're selling to 18 distributors, how do they differentiate
from the next guy? They can't do it on price. So how do they come up with something just a little bit different, hopefully, something
has a little bit of extra margin in it for them and for their retailers.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Last
year, we did the Mark IV Bill Ruger commemorative model celebrating the 100 years since Mr. Ruger's birth in 1916. This was on
our brand-new Mark IV competition model. We did one of our AR-556s made down in Mayodan. We call it &quot;FDE.&quot; It's flat
dark earth. That's just a color very popular with the military, very popular with the consumers. And Magpul is a brand of -- we
talk about AR's furniture is the add-on features. Things like the magazines, things like the sights, what makes its cool, how do
you trick that gun out to make it more exciting, more profitable and more appealing to the consumer.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">One
of Mike's favorite, the SR22 kind of in contractor yellow we call that. So again, the Takedown light in different colors. Ruger
Vaquero in fast draw, one of our single-action lines. We do a great job with single-action revolvers as well. A commemorative model
we worked with Davidson's on, our 1911 NRA special edition where we used this also as a fundraising tool to generate funds for
the NRA-ILA.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">That
was a fun start -- stuff. So I get a little excited about the firearms and the things we make and the people at Ruger. Now we're
going to cover a little bit on the financial side.</FONT></P>

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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">First
quarter, I think everybody got the press release that came out last night, had our first quarter results. 10-Q is out. All the
detail's in there. Q1, I think, was a solid quarter for us, slightly up from Q4, slightly down from Q1 of last year. But again,
still operating profit neighborhood of 20%, and earnings per share of $1.21.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Now
we're off to a good start. Sales were increased slightly as I said from Q4. EPS up slightly. Cash generated from operations about
$19 million. Distributor inventory actually decreased a little. So that first quarter, however, was not without its struggles.
It's a very promotionally charged environment. First quarter is always where we have promotions for our distributors and our retailers.
This year was no exception. Coming out of the election, you saw a lot of inventory. We'll look at that in a moment. So we had to
be aggressive on our promotions. We had to make sure we were first and foremost with our distributors and our retailers.</FONT></P>

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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Well,
also during Q4 and Q1, we repurchased 1.4 million -- 1.4 million shares of our stock. 7.2% of the outstanding shares. Average cost
of $49.67. I'll show you a few slides at the end talked about our history of share repurchases. But through that period of time,
$67 million returned to shareholders in the form of those share buybacks. And we ended the quarter with cash of about $35 million.
Currently, as of the end of last week, we've got cash on hand of about $50 million and no debt.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">The
other key point and this is where Tom Dineen does an especially great job for us. We're 99% current with all our accounts. Our
terms are tight. Our normal distributor terms are 30-day payment, 2% cash discount. If you work with Ruger, you don't miss your
discount. If you do, we've got you on watch. We monitor it very closely. Tom works very closely with Shawn Leska, our VP of Sales,
and it's a very much a tight-knit organization where we collect cash, Tom likes to collect cash, he likes big checks. We like to
see that cash balance grow. We like to maintain that stable and disciplined capital allocation approach to our business.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Conservative
balance sheet. I mentioned this one in capital allocation. In terms of production planning, just a little bit on this. I think
a lot of you know, we don't use incoming orders to run our business. We've said that before and every time we get a lot of questions;
are you concerned about what happened with your incoming orders, the average selling side of the incoming orders? We always look
at it. But usually, there's an underlying reason. It may be we wrote a lot of orders or LCPs that quarter. And LCPs are relatively
low-dollar firearm sale compared to precision rifles. So all of a sudden, our average selling price goes down. Next quarter, we
introduce a new variant of the precision rifle, and the average selling price goes up.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">So
again, it's usually -- it's always math based. It's not always something that is a big take away that something radically happened
with the direction of the company. But one of our key tools that we use, this looks a little choppy. Our SIOP graph, sales, inventory
and operations planning, we take every single product line, and we plan every 2 weeks what's going on in -- how we want to run
our factories. So we look at, first and foremost, what our distributors are selling. Now this isn't a real product line. This is
a notional one, but we have a lot of data on our hands. We have distributor inventory, distributor sales, our inventory, our production
-- average production for the day, our SIOP, which is our targeted production number, and then our 90-day planning SIOP. This is
where we try to give the factories a forecast of what's coming down the pike. Is it going to change up, change down? Get the supply
chain ready and get tuned up for those changes coming down the pike. We set a production level. In this case, we went from 90 to
110 a day, and now the factory is challenged to try to bring production up to try to catch up. Now in this case, distributor sales
were only 47 a day. However, we may have something coming that this may be a gun that's going on a promotion a month from now,
and that's why we want to build that inventory up. So this is a very interactive, again the best I've ever seen in my time in the
industry coordination between sales and our folks in production in the factories.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Quarterly
sell-through. We talked about that before. Sell-through is distributors selling to retailers. Again, that trend line moving up
in a positive direction, not mathematical to be sure, but obviously going in the right direction. And first quarter 2017, that
sell-through was about 8,500 units a day.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Now
inventory. Inventory, we spend a lot of time. We do watch inventory. We watch our inventory because the quickest way to turn --
to pull that cash down in a bad way is sometimes turning cash into inventory. And so we watch our inventory very closely. We also
watch our distributor inventory. And you see over the last couple of periods, distributor inventory has actually come down. Our
Ruger inventory has come up. We do watch that. We take that into consideration. We try to make sure we're building good inventory
that's sellable in a coming period.</FONT></P>

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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">And
we also watch what's a healthy number of turns for our distributors? We like to thank our distributors because, again, we've only
got 18 distributors. The only way that we can go to market is through those distributors. We don't sell Bass Pro or Cabela's direct.
So if you want to get that business, it's got to go through one of our distributors. It's okay for them to hold inventory. We think
six turns is reasonable. And so even at six turns, we're comfortable where our distributor inventory is.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Capital
allocation. As again, I mentioned disciplined capital allocation. Over the past five years, over $191 million invested back in
capital expenditures in our business. We've spent a lot of money, however, we think we've had good payback for that. We have rigorous
screenings. They go through at all levels before we buy capital equipment. We look to see first and foremost, can we repurpose
existing equipment? Secondly, is the payback there? If the payback's not there, sometimes something breaks, sometimes you have
to replace a roof, those thing happen. But you also have to spend mainly for new products, that's the exciting part of our business.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">This
one, stock repurchases. Since 2006, over $157 million returned in share repurchases. That's the history of our share repurchases
over time. Now, going all the way back to '06, that's the $157 million at a price per share of $14.71. The most recent share buyback
that we did in Q4 and Q1 was at that $49.67 level. So again, we spend a lot of time. Some time ago, our board put together a Capital
Policy Committee. We spend a lot of time looking at a disciplined approach to whether we should buy back shares, and if so, at
what price.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">And
that's our history over time during that 2006 period, if you look at the share price and where our purchases were. You look at
back the -- going back from 2006 to the most recent share repurchase here in Q4 and then Q1.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">And
with that, our cash picture. Obviously, some of those big dips are when we either had a stock repurchase or in the case of a special
dividend back in 2012, again, returning shares -- returning cash to our shareholders. Our goal is to, obviously, invest that cash
wisely, be it in Ruger for organic growth, be it in the acquisition if one should present itself, and if not, we're going to return
that cash to shareholders in the form of share repurchases and stock buybacks.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">And
since '09, about $179 million in regular quarterly dividends. Now important to note is our dividend policy. Often times misunderstood.
We pay a percent of our earnings per share as our dividend. So I'm always amused when I see -- I read the computer-generated headline
that say Ruger raised dividend or Ruger cut dividend. Well really we just paid the 40% dividend -- 40% of our earnings per share
that we've been paying, but business might have been stronger or weaker in that particular quarter. So back in 2012, up to that
time, we had been paying 25% of our earnings per share. In 2012, we changed to 40%. And so we continue with that model. We think
that's a good model. We think it's a disciplined model. When the company is making more money, we're returning more to shareholders.
When things are tightening up, we need to maintain that cash position. It's self-regulating. That's the beauty of it.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">And
again, since '07, over $398 million, when you count those share repurchases, you count the dividends. As Mike mentioned, market
cap has grown from $220 million in '07 to over $1 billion today. Cash balance, we ended the quarter at $35 million. Cash balance
today about $50 million.</FONT></P>

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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">That's
where we are. On Friday stock at $60, 17.7 million shares outstanding. Again, I would always caution you this business over time,
you've seen the ups, you've seen the downs. You remember that bar chart I showed you, remember, 15 times year-over-year we were
up, 10 times year-over-year we were down. So it is a volatile industry. The key to Ruger is that we intend to prosper whether the
business is moving up or moving down.</FONT></P>

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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Upcoming
investor communications. These are always on our website. If for some reason they change, we'll let people know. Other than the
Annual Meeting, we do our earnings release. We do it the night before to give you a chance to read it and digest it and then we
do the earnings call the next morning. I have noted there's a lot of our competitors that like to do the earnings release and immediately
jump on the earnings call, get it over before everybody's had a chance to digest the information. We like to make sure we get it
out the night before so you have a chance to read it. So hopefully, if you're following Ruger stock, you get a chance to ask a
well-informed question the next day.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">And
again, we like to think -- we are a high value proposition for our consumers. Innovation, it's scalable. We have our 18 distributors
who we work with, tried and true over the years. Lean methodologies and disciplined capital allocation and then a variable dividend
policy. It's consistent capital allocation and something that works both -- we think for our shareholders as well as for the company
internally managing our business.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">And
finally, at Ruger, one of the things we want to do is become and maintain a company that our shareholders -- our customers, excuse
me, are excited to buy from, our associates are proud to work at, and our investors seek for long-term returns. That's really in
a nutshell what sums up what we want to be at Ruger, what we want our commitment to you, what we want be in the future.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">And
now, subject to the rules laid out by Chairman Jacobi, I'd like to open it up to questions, and we'll do our best to answer them.
And if we don't know the answer, we'll get back to you on them.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">Charles Michael Jacobi
<I>- Sturm, Ruger &amp; Company, Inc. - Chairman </I></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Before
reading those, I'd just like to make one correction to one of the slides that Chris presented. The $60 stock price. The stock was
up somewhere between $8 and $9 this morning.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">Christopher J. Killoy
<I>- Sturm, Ruger &amp; Company, Inc. - CEO, President, COO and Director </I></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">(inaudible).</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">Charles Michael Jacobi
<I>- Sturm, Ruger &amp; Company, Inc. - Chairman </I></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">So.
At this time...</FONT></P>

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

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: bottom; background-color: #006595"><TD STYLE="width: 100%; padding-top: 2pt; padding-bottom: 4pt; text-align: left; font: small-caps bold 10pt Arial, Helvetica, Sans-Serif; color: rgb(0,51,153)"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; font-variant: normal; color: white">&nbsp;&nbsp;&nbsp;MAY 09, 2017 / 01:00PM&nbsp;&nbsp;GMT, RGR - Sturm Ruger &amp; Company Inc Annual Shareholders Meeting</FONT></TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">Christopher J. Killoy
<I>- Sturm, Ruger &amp; Company, Inc. - CEO, President, COO and Director </I></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">And
I would say, that's one note is internally we don't pay any attention as a management team to what the stock is at. People will
ask me, I meet him at a restaurant, say, &quot;why did your stock go up today?&quot; I say, &quot;I have no idea.&quot; Why did
it go down? I have no idea. And really what we think, we like to think from a long haul. If we run our company like we know we
should, hopefully, we'll be a good investment for people who see Ruger as that long-term play. We're not flashy. We don't give
forward-looking guidance. We're not going to start giving forward-looking guidance. So bear with us. We're going to have ups. We're
going to have downs. We're going to be competitive. Whether that market is growing or contracting, we're going to do our best to
leave it all on the field at the end of every quarter.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">Charles Michael Jacobi
<I>- Sturm, Ruger &amp; Company, Inc. - Chairman </I></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">At
this time, we'll open the floor to questions from members of the audience who are here in person. Anyone wishing to ask a question,
should stand up, and we will pass you a microphone. After being recognized, please identify yourself to the chair. Your questions
will then be addressed before the meeting. As I noted at the beginning of the meeting, please limit your questions to corporate
business and make them no longer than 2 minutes to allow us time to address all questions. Are there any questions?</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="color: #6B9915; font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-transform: uppercase">QUESTION AND
ANSWER</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">Rabbi Michael Friedman</P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">I'm
Rabbi Michael Friedman. I'm joined by my colleagues here Father David Blanchfield and Rabbi Evan Schultz. Together we represent
the Do Not Stand Idly By campaign to reduce gun violence in America. Last year Rabbi Joel Mosbacher, Reverend Tim Condor and Donna
Weinberger attended this Annual Meeting. They presented Sturm, Ruger with a request for information. Mr. Fifer at the time said
that he and your leaders would look at it, and we trust that you have done so. 40% of the guns sold in America today are purchased
using taxpayer dollars at the local state and federal level. As of today, 118 municipalities and states represented by their mayors,
their chiefs of police, their sheriffs and their governors have signed on to the Do Not Stand Idly By campaign. In doing so, they
pledged that the next time their jurisdiction needs to purchase firearms for law enforcement, they will only purchase from a manufacturer
who is willing to provide information about their development of smart gun technology. We have issued this RFI on behalf of those
118 public officials. In addition, the Do Not Stand Idly By campaign asks manufacturers such as Ruger to provide information about
their distribution networks. We are concerned, as I know that you are too, that too many guns are falling into the hands of the
wrong people as a result of insecure distribution networks and bad apple dealers. We -- thus we also request information about
your distribution networks, these 18 distributors that you mentioned and their practices so that we can all ensure that the distribution
network is secure. We ask that Sturm, Ruger meet with public officials who are part of the Do Not Stand Idly By campaign and respond
to this request for information. We are also working with another firearms manufacturer to develop a smart weapon designed specifically
for law enforcement. That weapon is expected to be ready for testing by police departments this summer. We believe this is a great
opportunity for Sturm, Ruger to continue to be a leader in its field, to work with police and our military to reduce gun violence
in America to ensure that your distribution network is secure and to innovate in the area of smart gun technology and to improve
its bottom line by bringing smart weapons to the marketplace.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">Christopher J. Killoy
<I>- Sturm, Ruger &amp; Company, Inc. - CEO, President, COO and Director </I></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Thank
you, Rabbi. And we do have the RFI that you gave me earlier today. And Kevin and I will take a look at that, and I appreciate you
being here. I also appreciate your passion and concern for the issue.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">Unidentified Participant</P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">First
of all, congratulations, Chris. Second of all, I wanted to talk about 2 things that you brought up. First of all, you brought up
the fact that the decline in the industry has been greatly exaggerated. And second of all, the expansion of smaller FFLs and manufacturers
here. Obviously, this has made -- for purchases pretty attractive for you. But I'm also wondering if it's sort of affected how
you think about the balance between acquisitions and share repurchases? Have you sort of seen any additional M&amp;A opportunities?
Is that something that looks incrementally more attractive now that valuations may be a little bit depressed? And just in general,
how do you balance those 2 priorities?</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">Christopher J. Killoy
<I>- Sturm, Ruger &amp; Company, Inc. - CEO, President, COO and Director </I></P>

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

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">That's
a good question. As I think, obviously, most people know, aside from the acquisition of Ruger Precision Metals, our metal injection
molding facility in Earth City, we really haven't been too active on the M&amp;A side. We haven't seen valuations really come down
a lot as of late. A lot of times, we look at kind of in the big picture the make versus buy. If it's a category within the firearms
space, are we better equipped to do that ourselves versus buy somebody. A good example being the suppressor business. We have some
very talented engineers in New Hampshire that, frankly, when the idea surfaced of doing a suppressor we're thinking, okay, we got
to go hire a couple of engineers and know about suppressors, it turns out we had, like, probably 20 of them that were very into
suppressors, very active, and literally had to cull the herd and tell them, no, you can't work on the suppressor product -- projects,
you have to go back and work on your assigned project. So -- and it was, obviously, a lot better for us to do that, build it in-house,
design it in-house and make it rather than acquire, say, a suppressor company. So right now, we haven't seen a big change in that
evaluation. I think over time, those smaller companies, more likely they'll go by the wayside. Some of those smaller FFLs that
have a manufacturing license, say, they were just building AR platform products, there's probably a lot of them that won't be around
next year. We're going to see some of those go by the wayside. As that market has contracted, there were so many players in that
market space. And right now, we're going through a period of time where there's still some inventory out there, there's a lot of
deals out there. If you ever want to see the level of deals going on in the industry, subscribe to the CDNN newsletter. You just
look at where the price points are. See those price points, because they're floating lower for the lot of brands that you may not
have even heard of. Well, that may not be impacting Ruger directly because you never heard of that brand and whether they buy a
Ruger. It's still up -- a consideration at retail for the consumer as those price points are being beaten down. So I think we're
going to see more fallout at frankly the manufacturer level and likely at the retail level as well. We think our distributors are
largely very stable. And one of the things that 2-step distribution for example with</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Gander
Mountain's recent bankruptcy filing, Ruger didn't sell Gander Mountain Direct, several of our distributors do, and they took a
loss in some cases -- in several cases, but not impacting Ruger. So that's why Tom can still put that 99% current number up there.
So I think it's going to change. I think we're going to see some of those smaller FFLs, both at the retail level and the manufacturing
level, go by the wayside.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">Charles Michael Jacobi
<I>- Sturm, Ruger &amp; Company, Inc. - Chairman </I></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Chris,
I might add to that. We view -- I mean, this is your company as shareholders. And so we view our ability to make acquisitions.
We have substantial ability to make acquisitions because we don't have debt and we have cash. We generally love cash. But we're
not going to make an acquisition that we don't think is going to return to you more than you might get out of dividends. And you
know a few years ago, we did a special dividend where we returned our cash back over to you. And we just don't see those valuations
in the industry right now. Any other questions?</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">Unidentified Participant</P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">(inaudible)</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">Christopher J. Killoy
<I>- Sturm, Ruger &amp; Company, Inc. - CEO, President, COO and Director </I></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">You
said military and police. As far as -- well, we've made some small steps there. One of the things that I mentioned -- our concealed-carry
products, like LCP, LC9 and the LCR. Even though those are sold largely through our commercial network as well as our network of
law enforcement distributors, those three guns are three of the most popular backup guns or secondary guns for law enforcement
personnel in the country. Now the duty weapon category, say, the pistol category, that's a really a dog-eat-dog world. I did that
for many years at Smith &amp; Wesson. Most departments you're working with, their funds are limited. Number one, they've already
got all their officers already have a firearm. So with every transaction, you got to do a trade. You're looking to take those old
guns on trade, get what you can for them, and then sell them new guns. A lot of the -- a lot of those transactions are very, very
low margin. Some of them are money losers where the companies involved may elect to do that just for the headline or the PR associated
with getting a big department. And that can be a strategy, but over time, you can't bank press releases. So largely, we stayed
away from there. I will tell you that two product categories that we've done extremely well with a recent period, the AR-556 and
the Precision Rifle, we're seeing -- making slow but steady inroads with quite a few departments around the country. We've got
test and evaluation units out with departments throughout the country where we think those niches are very important. All those
deals were done with no trades involved. They were done at our normal law enforcement pricing, and we're very comfortable being
in those situations with the Precision Rifle, the AR and again all of our backup weapons. The American Pistol for example is and
will be a great duty weapon, but it's going to take time. That's -- you got a lot of tough competition out in that market with
Glocks, Sigs, Smith &amp; Wesson, Beretta, FN, all doing those no-money trades or low-money trades. And so for us, right now, we
think, we'll take that business when we can get it, if it's profitable. But by and large, we're going to focus on -- and the LE
market would be the AR-556 platform, Precision Rifle and then our backup weapons, the LCP, LC9 and LCR.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">Charles Michael Jacobi
<I>- Sturm, Ruger &amp; Company, Inc. - Chairman </I></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Any
other questions? Okay. There being no other business to come before the meeting, I will ask for a motion to adjourn.</FONT></P>

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">Michael O. Fifer <I>-
Sturm, Ruger &amp; Company, Inc. - Director </I></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Mr.
Chairman, I move that the 2017 Annual Meeting of Stockholders of the company be adjourned.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">Thomas A. Dineen <I>-
Sturm, Ruger &amp; Company, Inc. - VPresident, Treasurer and CFO </I></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">I
second the motion.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">Charles Michael Jacobi
<I>- Sturm, Ruger &amp; Company, Inc. - Chairman </I></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">May
I have a voice vote on the motion all in favor, please signify by saying, aye.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">(Voting)</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">Charles Michael Jacobi
<I>- Sturm, Ruger &amp; Company, Inc. - Chairman </I></P>

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

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">The
2017 Annual Meeting of the Stockholders of the company is hereby adjourned. On behalf of the Board of Directors, I'd like to thank
you for attending the meeting and for your continued support of the company. Thank you.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

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