<SEC-DOCUMENT>0001174947-18-000805.txt : 20180514
<SEC-HEADER>0001174947-18-000805.hdr.sgml : 20180514
<ACCEPTANCE-DATETIME>20180514161546
ACCESSION NUMBER:		0001174947-18-000805
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20180509
ITEM INFORMATION:		Submission of Matters to a Vote of Security Holders
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20180514
DATE AS OF CHANGE:		20180514

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:		18830778

	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-20276_rgr.htm
<DESCRIPTION>8-K
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">UNITED STATES</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, 2018</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="width: 100%; font: 10pt Times New Roman, Times, Serif; 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="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 59%; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: normal; font-size: 10pt; text-align: center"><B>ONE LACEY PLACE, SOUTHPORT, CONNECTICUT</B></TD>
    <TD STYLE="width: 41%; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: normal; font-size: 10pt; text-align: center"><B>06890</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">(Address of Principal Executive Offices)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">(Zip Code)</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 0 12pt; text-align: justify; 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>
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</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>
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Wingdings">o</FONT>
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</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>
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR &sect;230.405) or Rule 12b-2 of the
Securities Exchange Act of 1934 (17 CFR &sect;240.12b-2).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Emerging growth company <FONT STYLE="font-family: Wingdings">o</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">If an emerging growth company, indicate
by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section 13(a) of the Exchange Act. <FONT STYLE="font-family: Wingdings">o</FONT></P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->


<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: 0.5in">At the Company&rsquo;s Annual Meeting of Shareholders
on May 9, 2018 (the &ldquo;Annual Meeting&rdquo;), the shareholders voted on the following four 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: 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>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid">Votes For</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid">Votes Withheld</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid">Uncast</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 61%; text-align: left">John A. Cosentino, Jr.</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">10,155,290</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: 10%; text-align: right">425,763</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: 10%; text-align: right">0</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Michael O. Fifer</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,481,030</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">100,023</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Sandra S. Froman</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,356,191</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">224,862</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">C. Michael Jacobi</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,407,810</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">173,043</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">200</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Christopher J. Killoy</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,482,130</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">98,923</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Terrence G. O&rsquo;Connor</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,499,859</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">81,194</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Amir P. Rosenthal</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,465,865</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">115,188</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Ronald C. Whitaker</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,447,037</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">134,016</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Phillip C. Widman</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,506,547</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">74,506</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Non-Votes on each nominee: 5,072,689</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: 0.5in">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 2018, as described
in the proxy materials. This proposal was approved.</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 COLSPAN="3" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid">Votes For</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid">Against</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid">Abstain</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD><TD STYLE="width: 31%; text-align: center">15,438,623</TD><TD STYLE="width: 1%; text-align: center">&nbsp;</TD><TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD><TD STYLE="width: 31%; text-align: center">155,545</TD><TD STYLE="width: 1%; text-align: center">&nbsp;</TD><TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD><TD STYLE="width: 30%; text-align: center">59,574</TD><TD STYLE="width: 1%; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="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: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Proposal 3 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: 90%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid">Votes For</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid">Against</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid">Abstain</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid">Non-Votes</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD><TD STYLE="width: 23%; text-align: center">10,190,075</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD><TD STYLE="width: 22%; text-align: center">309,133</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD><TD STYLE="width: 22%; text-align: center">81,845</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD><TD STYLE="width: 22%; text-align: center">5,072,689</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: center">&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">Proposal 4</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">Proposal 4 was a shareholder proposal to require
a report on the Company&rsquo;s activities related to safety measures and mitigation of harm associated with Company products.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid">Votes For</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid">Against</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid">Abstain</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid">Non-Votes</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD><TD STYLE="width: 23%; text-align: center">7,192,660</TD><TD STYLE="width: 1%; text-align: center">&nbsp;</TD><TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD><TD STYLE="width: 22%; text-align: center">3,263,446</TD><TD STYLE="width: 1%; text-align: center">&nbsp;</TD><TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD><TD STYLE="width: 22%; text-align: center">124,947</TD><TD STYLE="width: 1%; text-align: center">&nbsp;</TD><TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD><TD STYLE="width: 22%; text-align: center">5,072,689</TD><TD STYLE="width: 1%; text-align: center">&nbsp;</TD></TR>
</TABLE>

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

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B></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"><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 Annual Meeting 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 Annual Meeting 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 Ruger.com/corporate, 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 0 6pt; 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: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">Item 9.01</TD><TD>Financial Statements and Exhibits</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt">&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"><U>Exhibit No</U>.</TD>
    <TD><U>Description</U></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">99.1</TD>
    <TD STYLE="padding-bottom: 6pt"><A HREF="ex99-1.htm">Transcript of the Annual Meeting of Shareholders held on May 9, 2018.</A></TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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


<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->


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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0">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">STURM, RUGER &amp; COMPANY, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 0.65in">&nbsp;</TD>
    <TD STYLE="width: 3in">&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>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD COLSPAN="2"><U>/S/ THOMAS A. DINEEN&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Name:</TD>
    <TD>Thomas A. Dineen</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>Principal Financial Officer,</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Principal Accounting Officer,</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Senior Vice President, Treasurer and</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Chief Financial Officer</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 14, 2018</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>



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

<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ex99-1.htm
<DESCRIPTION>EX-99.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; background-color: #E6E6E6; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Sturm, Ruger &amp; Co.(2018 Annual Meeting)</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>May 9, 2018</B></P></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"><B>Corporate Speakers:</B></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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>C. Michael Jacobi; Sturm, Ruger &amp; Co., Inc.; Chairman</TD></TR></TABLE>

<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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Kevin Reid; Sturm, Ruger &amp; Co., Inc.; VP, General Counsel &amp; Corporate Secretary</TD></TR></TABLE>

<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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Phillip Widman; Sturm, Ruger &amp; Co., Inc.; Director</TD></TR></TABLE>

<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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Sandra Froman; Sturm, Ruger &amp; Co., Inc.; Director</TD></TR></TABLE>

<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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Chris Killoy; Sturm, Ruger &amp; Co., Inc.; President, CEO &amp; Director</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"><B>Participants:</B></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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Colleen Scanlon; Catholic Health Initiatives; SVP &amp; Chief Advocacy Officer</TD></TR></TABLE>

<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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Mike Solberg; Union Church of Hinsdale; Pastor, Senior Minister</TD></TR></TABLE>

<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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Terrell Williams; BUILD; Organizer &amp; Co-Director of Turnaround Tuesday</TD></TR></TABLE>

<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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Jafar Azmayesh; 1776 Holdings LLC; Agent</TD></TR></TABLE>

<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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Unidentified Participant; Metro-IAF; member</TD></TR></TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; background-color: #E6E6E6; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center"><B>PRESENTATION</B></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">Michael Jacobi: Good morning. Will the meeting come to order?</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">I&rsquo;d like to start by welcoming all of you to Prescott. We
have wonderful weather this morning. This is the second time we have had an annual meeting here in Prescott, where we have a beautiful
facility with 400 wonderful employees. We&rsquo;re very happy to be here.</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">I am Mike Jacobi, the Chairman of the Board of Sturm, Ruger &amp;
Co., Inc. And it is my pleasure on behalf of the directors and officers of Sturm, Ruger &amp; Co., Inc. to welcome those present,
including those attending the meeting through our webcast, to the 2018 Annual Meeting of stockholders.</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">As a reminder, please silence your cell phone during the meeting.
All questions should be held until the end of the meeting, after the presentation by our Chief Executive Officer Chris Killoy.
When you do have a question, please identify yourself, come up to the mics and the questions will be limited by to two minutes.</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">As of this time, I would like to introduce the Company&rsquo;s other
Directors. First, John A. Cosentino, he was not able to attend. He&rsquo;s our lead Director and Vice Chairman and he&rsquo;s listening
in to the webcast. Michael O. Fifer who is also a Vice Chairman, Sandra S. Froman, Christopher J Killoy who is our President and
CEO, Terrence G. O'Connor, Amir P. Rosenthal, Ronald C. Whitaker, and Phillip C. Widman.</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">I would also like to introduce our Company Officers. Thomas A. Dineen,
Senior Vice President, Treasurer, and Chief Financial Officer; Thomas P. Sullivan, Senior Vice President of Operations; Kevin B.
Reid, Sr., Vice President, General Counsel and Corporate Secretary; Shawn C. Leska, Vice President of Sales; Sarah F. Colbert,
Vice President of Administration; Robert J. Werkmeister, Jr., Vice President of Marketing; and Michael W. Wilson, Vice President
of Mayodan Operations.</P>

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

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">I would also like to introduce Jeff LaGueux and Craig Dent, outside
counsel from Patterson Belknap Webb &amp; Tyler. Andy Warren and Brian DiPaola, are 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.</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">In fairness to all stockholders attending the meeting or listening
to the webcast, and in the interest of having a fair, orderly and constructive meeting, the following rules of conduct and procedure
will apply. All stockholders, proxy holders and 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, or any other similar equipment
is prohibited without the express written permission of the Company.</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">Only stockholders of record of the Company&rsquo;s Common Stock
as of March 15, 2018 or their proxy holders are entitled to vote at the meeting. Similarly, only stockholders of record or their
proxy holders may address the floor during the question and answer period when the Chairman indicates the floor is open for discussion
or questions. 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 two minutes.</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">The meeting is not to be used 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, longer than two minutes, substantially repetitious of statements made by other stockholders, or related
to personal grievances.</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">If there is any matter that is of personal 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 stockholders meeting by calling 203-259-7843 and selecting
the &ldquo;Investor Relations&rdquo; option.</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">The Chairman of the meeting shall have the authority necessary to
preside over the meeting and 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 conclude 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.</P>

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

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Thank you for your cooperation.</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">To take care of the necessary appointments and documentations for
the meeting, to establish a quorum, and to take votes on the items of business properly brought before the meeting.</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">These items of business are, one, to elect nine Directors to serve
on the Board of Directors for the ensuing year; to ratify the appointment of RSM US LLP as the Company's independent auditors for
the 2018 fiscal year; to hold an advisory vote on the compensation of the Company's named executive officers; to vote on a shareholder
proposal to require a report on the Company's activities related to safety measures and mitigation of harm associated with company
products; and any other business as may properly come before the annual meeting, or any adjournment or postponement thereof.</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">As the Company's bylaws 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.</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">Let the minutes of today's meeting show all of the documents concerning
the call and notice of this meeting 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; an 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.</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">We have previously supplied each stockholder of record with a notice
regarding availability of proxy materials that contain 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.</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">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.</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">We would ask that all those present at the meeting sign the attendance
book after the meeting is adjourned, if you have not already done so. The bylaws 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.</P>

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

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Mr. Reid, may we have the report of the inspector of elections on
whether or not a quorum is present?</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">Kevin Reid: Mr. Chairman, the proxies received by the Company in
connection with the 2018 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 15,653,742, or 89.7% 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.</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">C. Michael Jacobi: Thank you. Because a quorum is present, this
meeting will proceed. Mr. Reid, were there any additional stockholder nominations or proposals for the business for this meeting,
properly filed with you as Corporate Secretary in accordance with the advance notice requirements of the Company's bylaws, other
than those already mentioned?</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">Kevin Reid: No, Mr. Chairman, there were not.</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">C. Michael Jacobi: 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.</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">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 2019 annual meeting of stockholders, and until their successors are duly elected and
qualified.</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">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.</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">The Company's bylaws require that a stockholder give advanced 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.</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">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 2018 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 2018 fiscal year.</P>

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

<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">At this time, I call upon Phillip C. Widman, the chairman of our
audit committee, for the audit committee's recommendation.</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">Phillip Widman: Mr. Chairman, I move that the action of the Board
of Directors in selecting RSM US LLP as independent registered public accounting firm for the Company's 2018 fiscal year be ratified
and approved.</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">C. Michael Jacobi: Are there any remarks on the selection of the
independent auditors?</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">The third 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 2018 proxy statement, otherwise known as
the say-on-pay 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.</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">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.</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">At this time, I call upon Sandra S. Froman, a member of the compensation
committee, for the compensation committee's recommendation.</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">Sandra Froman: Mr. Chairman, I move that the compensation of the
Company's named executive officers, as described in the 2018 proxy statement, be approved by advisory vote of the stockholders
of record of the Company as of March 15, 2018.</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">C. Michael Jacobi: Are there any remarks on the motion to approve
the compensation of the Company's named executive officers by advisory vote?</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">The fourth order of business is a shareholder proposal which, if
passed, would require a report on the Company's activities related to safety measures and mitigation of harm associated with company
products. The shareholder proposal, the supporting statement of the proponent of the proposal, and the Board's recommendation and
response to that proposal are contained in their entirety in the proxy statement.</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">The affirmative vote of at least a majority of shares entitled to
vote and represented in person or by proxy at this meeting is required to approve this shareholder approval.</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">At this time, I call upon the proponent, or a qualified representative
of the proponent, to move the proposal.</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">Colleen Scanlon: Thank you. Good morning, I'm Colleen Scanlon of
Catholic Health Initiatives, and I'm here on behalf of my organization, and behalf of the Sisters of the Holy Names, and 10 additional
faith-based shareholders to present Proposal Four.</P>

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

<!-- Field: Page; Sequence: 5 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">I move that the Board issue a report to shareholders by February
of 2019, at reasonable expense and excluding proprietary information, on the Company's activities related to gun safety measures
and the mitigation of harm associated with gun products, including the following -- evidence of monitoring of violent events associated
with products produced by the Company; efforts underway to research and produce safer guns and gun products; an assessment of the
corporate's reputational and financial risk associated with gun violence in the United States. Thank you.</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">C. Michael Jacobi: Are there any remarks on the shareholder proposal?</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">Mike Solberg: Yes, my name is Mike Solberg, and I am a pastor in
Hinsdale, Illinois, and a leader with Metro-IAF, which represents hundreds of faith-based and civic organizations in the United
States and in Europe, and I am also a shareholder of the Company.</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">I would like to ask, first of all, a question about the Board's
response to the proposal put forth by ICCCR, and that is, the response to the proposal identifies any issues regarding gun violence
as an issue for law enforcement. You say that this is a -- you put in quotes, &quot;Not so much a public health crisis, but rather,
a law enforcement issue.&quot;</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">I have a document, signed by 123 different law enforcement leaders
and mayors, and even governors of states, which shows that many of us disagree. That is, it's not simply a law enforcement issue,
but it is an issue that is broad-based in our society and demands a broad-based solution.</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">And so, I would like to ask if they company, Mr. Killoy, if you
will meet with us within 30 days, to be part of the solution to a broad-based problem, and be a part of the broad-based response?</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">C. Michael Jacobi: Could I just say that in response to that question,
I'd like to hold that response until after Mr. Killoy's presentation, so he'll address that when he finishes later today, later
this morning.</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">This concludes discussion on all formal matters to be brought before
the shareholders, and we will commence to vote on these matters.</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">Kevin Reid: The polls are open as of 9:19 a.m., on May 9, 2018,
for each matter to be voted upon.</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">C. Michael Jacobi: 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.</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">Kevin Reid: Is there anyone here who wishes to vote by ballot? Seeing
no one, the polls for all voting matters are now closed at 9:20 a.m. on May 9, 2018.</P>

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

<!-- Field: Page; Sequence: 6 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">C. Michael Jacobi: The voting is complete. Accordingly, I will now
ask the Inspector of Elections for a report on each vote.</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">Kevin Reid: Mr. Chairman, we've 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 -- 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.</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">On the second proposal, the ratification of the independent auditors
for 2018, I report that a majority of the shares present and voting were cast for the approval of RSM US LLP as the Company's independent
registered public accounting firm for 2018, and their selection is therefore ratified.</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">On the third 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 shares present and voting were
cast for the approval of the compensation of the Company's named executive officers.</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">On the fourth proposal, which is the shareholders' proposal to require
a report on the Company's activities related to safety measures and mitigation of harm associated with company products, I report
that a majority of the shares present and voting were cast for the proposal, and therefore, that the proposal did pass.</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">C. Michael Jacobi: Thank you, Mr. Reid. The chair declares that
all of the nominees for director named in the proxy statement have been elected, and three proposals have passed.</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">I now direct that Mr. Reid prepare a written report for 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.</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">At this time, I would like to introduce our CEO, Chris Killoy, and
just note that this is Chris's one-year anniversary as the CEO. He's been with us for many years, and I just want to comment that
Chris has done a very skillful job in navigating through a difficult market through the past year, but he will make his presentation
now.</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">Chris Killoy: Thank you, Mike.</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">C. Michael Jacobi: Oh, I just want to -- at this time, I would like
Kevin Reid, our vice president and general counsel, to read a cautionary statement, after which our President and Chief Executive
Officer, Chris Killoy, will report on the Company's business to the stockholders, followed by a short question-and-answer period
for those present.</P>

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

<!-- Field: Page; Sequence: 7 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Kevin Reid: So, we just want to remind everyone that statements
made in the course of this meeting that state the Company's or management's intentions, hopes, beliefs, 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.</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">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-K for the year ended December 31, 2017, and Form 10-Q for the fiscal
quarter ended March 31, 2018. Copies of these documents may be obtained by contacting the Company or the SEC or on the Company
website at www.ruger.com/corporate, or of course the SEC website at www.sec.gov.</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">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, 2017, and our Form 10-Q for
the quarter ended March 31, 2018, which are also posted on our website. Furthermore, the Company disclaims all responsibility to
update forward-looking statements.</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">Chris?</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">Chris Killoy: Thanks, Kevin; thanks, Mike. As you know, the shareholder
proposal that was presented today passed. That proposal has received a lot of media attention, and I'm confident that its passage
will as well. But I want to be really clear about what this proposal represents, and what it does not.</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">The proposal requires Ruger to prepare a report. That's it, a report.
The shareholders have spoken, and we&rsquo;ll follow through on our obligation to prepare that report in due course.</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">What the proposal does not and cannot do is to force us to change
our business, which is lawful and constitutionally protected. What it does not do, and cannot do, is force us to adopt misguided
principles created by groups who do not own guns, know nothing about our business, and frankly, would rather see us out of business.
The proposal also cannot change what Ruger&rsquo;s about and what we stand for, so let's talk about that for a few minutes.</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">I'd like to show you a brief video, followed by some PowerPoint
slides, and then we'll go to questions and answers.</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">(Video playing)</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">Unidentified Company Representative: Since our founding in 1949,
Ruger has become an iconic symbol of success as a manufacturer of rugged, reliable firearms for the commercial sporting market.
From our early beginnings to the present day, Ruger has set the gold standard of corporate responsibility.</P>

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

<!-- Field: Page; Sequence: 8 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The Ruger motto, &quot;Arms makers for responsible citizens,&quot;
echoes our commitment to these principles, as we continue to design and manufacture quality and innovative products for our customers.
Made in America is more than a tagline of Ruger. It's the heartbeat of our company.</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">Ruger firearms are made in American factories, the result of the
dedication of our loyal associates, who build pride and craftsmanship into every Ruger firearm. We operate four production facilities
in four states across the country. Ruger is loyal to our proven, two-step distribution process. Currently, we sell to 19 domestic,
27 law enforcement and 38 international distributors.</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">Long recognized as a full-line manufacturer of rugged, reliable
firearms, Ruger continues to build on that tradition. We offer our customers innovative firearms that the average person can afford.
2018 marks another year of innovative offerings. New pistols, like the EC9s and the Security-9, along with new rifle platforms
like the PC carbine and the Ruger Precision Rimfire, are already creating market excitement.</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">Ever mindful of the changes in the marketplace, Ruger is not interested
in merely keeping pace. We would rather lead the field in the design and manufacturing of quality, affordable firearms. Ruger is
a company that makes firearms that our loyal customers are proud to own, a company that our associates are proud to work at, and
a company that our investors look to for long-term returns.</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">Ruger is the nation's leading manufacturer of rugged, reliable firearms
for America's responsible citizens. We manufacture a full line of firearms that reach across a broad spectrum of the shooting market.</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">From the beginner to the target shooter, and up to the competitive
shooter, Ruger offers a wide range of firearms to meet their needs. For the hunter, wherever their adventures take them. At home,
or abroad, whether you're in pursuit of small game or dangerous game, Ruger builds a rifle for you. Ruger offers a large selection
of firearms designed for law enforcement, personal defense, home security, and the peace of mind they provide.</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">Ruger is one of the most respected brands in the firearms industry
and has been recognized annually by winning the most coveted industry awards. Our brand presence remains strong and consistently
visible across traditional media outlets, including print and television. We also stay well-connected to our loyal customer base
through a wide variety of social media outlets.</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">The spirit of innovation never rests. Ruger has listened to their
customers, developed new firearms to meet their needs, and is charting a future based on these same, proven principles. Ruger firearms
are made in America, crafter by American men and women in our American factories, for you, America's free and responsible citizens.</P>

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

<!-- Field: Page; Sequence: 9 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Chris Killoy: All right, for those of you following the webcast
who may not be here present today, there is a link on our website to the video so you can replay that. That link will be there
for a while. Next slide.</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">Going back to 1991 through 2016, this shows a bar chart of firearms
production in the US, plus imports, less exports, so basically, the firearms available to the consumer market. As you can see,
it's been an up-and-down journey.</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">In that 26-year period, there are 25 comparisons, year-over-year.
Fifteen of those year-over-year comparisons were up years; ten of those were down years. And so, when you think about that, the
volatility in our business is to be expected and anticipated. However, the overall trends are good; they're solid; they represent
overall upward trend. But again, anyone who thinks it's smooth sailing just has to look at 2017 for an indication of how rapidly
things can change.</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">The other thing that we look at, and that a lot of people in the
media look at, is NICS checks, the National Instant Check System administered by the FBI. This also shows a lot of volatility,
but what it really shows is a lot of seasonality. The seasonal spikes you see every December are typical within our business and
follow a fairly repeatable pattern, but again, the overall trend is up.</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">You'll see month-to-month changes; you'll see analysts say that
the business must be in trouble because they see NICS checks down 4% or 5%, or things are going great because they're up 4% or
5%. Just a reminder, Ruger sells two-step distribution, so what we sell to our distributors still goes from their warehouses to
retailers, and then to the consumers. The NICS checks is what happens from the licensed retailer to the consumer.</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">New product development was mentioned in the video. That's really
the lifeblood of the Company. We start, early on, listening to our customers. We call it voice of the customer. We listen to them
through a variety of ways. Our folks are in the field all the time, attending matches, working with retailers. We get a lot of
feedback from our sales staff, our distributors. Then, we spend a lot listening on the various forums, whether it's Facebook, social
media, whether it's e-mail, the CEO function we have on our website -- a lot of feedback comes through us, and we take all that
into consideration.</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">Great new product engineering and development team. We're very skilled
at rapid prototyping. Our folks have increased -- the ability to rapidly prototype ideas has just gone up exponentially in the
last couple of years. I'm very proud of our capabilities there.</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">Field testing. We do a lot of field testing. There were a couple
shots in the video of some of us on the management team, recently testing some guns that have yet to be launched. But again, that's
an important part of our business is field testing those with our sales staff, with our brand ambassadors, with partners that we
have throughout the distribution channel, and that helps us stay on track with what our customers are looking for.</P>

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

<!-- Field: Page; Sequence: 10 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">And then, production and inventory before we launch. One of the
things that we noticed in this industry some years ago, my predecessor Mike Fifer picked up on very quickly is that so many people
would introduce a product, and there'd be no product available. You'd have a lot of hype, might be at a SHOT Show, might be at
the NRA Show. There'd be a lot of hype, a lot of magazine covers, but no product.</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">We've successfully changed that. We've gotten it into our culture
that before we launch the products, we have product available. And not only available, we actually have it shipped into our distributors'
warehouses. So, as a consumer, when you see a product launch notification, prior to that, there was a launch to our retailers,
and prior to that was a launch to our distributors, or wholesalers, to make sure they can have the product at their warehouses,
ready to go.</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">Just in 2017 and 2018, long period, five-quarter period, but 64
new products, 106 new models, over 300 distributor exclusives, and this is an important part of our business. The distributor exclusives
that we might do with, say, Lipsey's, or Davidson's right here in Prescott, account for a good percentage of our sales, and are
critical to keeping the consumer excited, the dealer excited, and increase distributor profitability. It's an important part and
important strength of the Ruger business model.</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">Currently, we've got over 600 variations going across 40 of our
major product lines, or product families. The big four that we launched in late December this year, just as 2017 was coming to
an end, to kick off the show season in Q1 of 2018, Pistol Caliber Carbine and 9 millimeter, probably the most exciting gun in the
industry right now, very tough to get a hold of. We're making them every day. That comes out of our factory in Newport, New Hampshire.</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">Security-9 pistol also launched in late December. Great new product
introduction, launched right here in Prescott by our team right up the road here, along with the next gun. The EC9s follows on
the heels of the very successful LC9. Again, a Prescott product. Some of the folks from Prescott are here today, and I thank all
of you for your work on these great guns.</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">And then lastly, the Ruger Precision Rimfire, built down in our
newest factory and made in North Carolina. Those folks down there did a great job with this product, launched at SHOT Show. All
four of these have had great reaction with our consumers, great reaction with our trade press and the distributors and retailers,
and very strong orders as we enter Q1, and actually finish Q1 -- a big part of our success in the most recent quarter.</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">All told, we had about 49 different SKUs, or stock keeping units,
individual models, if you will, that we launched in December at the SHOT Show. Everything from new bolt-action rifles with new
camo patterns; LCR with a three-inch barrel, adjustable sight; our GP100. Some of these are legacy products that we continue to
refine and enhance.</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">The Mark IV, again, made here in Prescott; SP101 Match Champion,
and then some packaged products that we did, the Ruger American Rifle in the Predator series with the Vortex scopes. Again, adding
excitement to the industry, adding profitability to retailers and distributors.</P>

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

<!-- Field: Page; Sequence: 11 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Now, a little bit of our financials. This is a five-quarter look,
so we go back, if you will, from right to left, Q1 of 2017 through 2018. Twenty-seventeen started off very well. We had a very
strong Q1, as you can see from the figures represented there, revenues of $167 million with strong earnings per share, strong profitability
throughout.</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">However, 2017 really saw the market changing and scrambling to adapt.
Ruger, I think, got out in front of that change, from the standpoint of both managing our production, dealing with inventory at
the retail and distributor level, which is a key factor in navigating through 2017. But, there was some pain in 2017. We had a
lot of attrition that we didn't replace folks. We were down over 700 heads in that five-quarter period, so that's a tremendous
impact to all of our organizations, as well as to a lot of those individual families.</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">In Q1 of 2018, things started to turn around. Sales decreased year-over-year,
Q1 2017 to Q1 2018. They decreased about 22%, and our earnings per share decreased 33%. But, compared to Q4 2017, sales increased
11%, and earnings per share increased 37%. Cash generated from the operations in that quarter, this quarter we just concluded,
$45 million.</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">I mentioned before the inventory picture. Again, being a two-step
distribution, it pays to remind everyone that Ruger is one of the few firearms manufacturers that only sells to the distributors.
We don't sell to big-box stores or independent retailers directly, so even a company as big as Bass Pro or Cabela's or Walmart
are serviced by one of our 19 distributors. So, Ruger inventory over the last couple of quarters, we've taken that down. Distributor
inventory is also down significantly. Distributor inventory, in fact, peaked in Q2 of 2017, down in Q3, down in Q4, and now down
to about 252,000 at the end of Q1. Next slide.</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">And a lot of you have heard me talk before about what we expect
of distributors. We think it's reasonable that distributors should be able to turn their inventory, as a target rate, six to eight
times. In this case, that black line represents six turns, 273,000 units, so right now, we're actually below the six turn level.</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">Now, that's not a perfect science. Things go up, things go down,
but we're very pleased with how we ended Q1, from both inventory in the channel at the wholesale level, anecdotally what we hear
at the retail level, and then certainly at Ruger, down to 51,000 units.</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">Another strong part of Ruger's operation is our strong commitment
to a solid balance sheet. Tom Dineen, our CFO, does an excellent job keeping our strength in this area. This chart indicates cash
returned to shareholders over from 2006. It shows a history of our cash balances. The cash balances are shown here on the left
Y axis, and you see over time a significant pattern of stock repurchases, as well as special dividend when it makes sense. And
we also have a quarterly dividend that's paid, not based on a fixed rate, but based on 40% of our earnings.</P>

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

<!-- Field: Page; Sequence: 12 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">So, again, our Q1 ending cash balance, $103 million. Current cash
balance as of today is about $120 million. Our accounts receivable are current at 97%, and we have no debt. That's the other thing
that separates us from a lot of our fellow companies in the news, the strength of our balance sheet, as well as the strength and
the overall health of the Company.</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">The other day, I think it was Friday, we had 17.4 million shares
outstanding. That reflects the stock repurchases from last year. So, for Q1, that's the new total, 17.4. On Friday, the share price
was about $58, and just over $1 billion in market cap.</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">Again, key metrics for a lot of people in the audience, certainly
for all of our shareholders, but we don't run our company watching the stock price day-to-day. We run it watching what our customers
are looking to buy; we run it looking at what our distributors are selling downstream into their retailers, to make sure we can
deliver them what they need, when they need it, keep them profitable, and keep them healthy.</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">And then, lastly, a quick update on our 2018 scheduled earnings
calls. These will be on our webpage.</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">And then, in closing, before we take your questions, again, this
is a great map up here, shows what the great folks in Newport, New Hampshire, our headquarters, Southport, Connecticut, made in
North Carolina, our newest factory; Ruger Precision Metals, just outside St. Louis, Missouri, and right here in Prescott, Arizona.
We're very proud of all of our factories, all of our people. That's what makes Ruger great.</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">And with that, I think we'd like to open it up to questions.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; background-color: #E6E6E6; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center"><B>QUESTIONS AND ANSWERS</B></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">Unidentified Company Representative: Yes, at this time, we will
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 come up to the microphone. After being recognized, please identify yourself through the chair. Your questions will be addressed
by Mr. Killoy.</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">As I noted at the beginning of the meeting, please limit your questions
to corporate business and make them no longer than two minutes, to allow us time to address all questions. Are there any questions?</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">Colleen Scanlon: Again, I'm Colleen Scanlon from Catholic Health
Initiatives, representing my organization and 10 additional faith-based members of the Interfaith Center on Corporate Responsibility.</P>

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

<!-- Field: Page; Sequence: 13 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The fact that a majority of shareholders is asking you to look at
gun safety is incredibly significant. You say you're committed in your video, to quality, affordable firearms. What about safer
firearms?</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">Can you describe what actions Sturm, Ruger is taking to design and
manufacture safer guns and gun products, and any other safety measures the Company is undertaking to mitigate the reputational
and financial risks the Company faces as a result of episodes of gun violence?</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">While gun violence is an issue of concern to everyone, the responsibility
to market safe guns sold to the public appropriately lies with gun manufacturers and distributors. In response to public pressure,
national gun retailers are imposing greater safety restrictions on guns sold to the public, insisting on safer products and clearing
their shelves of the most dangerous assault-style weapons and accessories.</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">Banks, credit card companies, institutional investors, and large
asset managers are all assessing their relationships with the industry. Yet, we have seen no evidence of our company's efforts
to change its practices and policies.</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">The American public will continue to seek solutions to random, senseless
gun violence from all stakeholders. They will return to gun manufacturers and expect an honest accounting of the efforts they have
made to avoid these tragic events. We want to see Sturm, Ruger presenting solutions, and we look forward to working with you to
pursue any and all efforts to advance gun safety.</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">If new product development, as you said, Mr. Killoy, is the lifeblood
of Sturm, Ruger, safer guns needs to be on that development agenda. Please share the corporate efforts you are taking to research
and produce safer guns. Thank you.</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">Chris Killoy: Thank you. Well, you know, one of the things I would
ask all of you, if you haven't already, is take a look at our letter to shareholders dated March 12th. It's on our website. It's
filed as an 8-K, and so it's available on the website to review. I think we also have some copies in the back of the room, if you'd
care to take a look at that.</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">One of the things, when we talk about gun safety, Ruger has always
sought to design safe firearms. You know, in fact, we're the first firearms company to invent a transfer bar safety to prevent
accidental discharge in Colt-style, single-action revolvers many, many years ago.</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">For over 30 years, we've been shipping locks with every firearm
we make, whether it's a handgun, rifle, or shotgun. To date, that total of locks distributed with our firearms is over 19 million
locks. That's not a requirement; that's a voluntary measure we take to ensure the safe storage of our firearms.</P>

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

<!-- Field: Page; Sequence: 14 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">I can assure you that, at every stage of a new product development,
we're constantly looking at things like the product's ability to handle a drop test, the product's ability to incorporate a manual
safety that works reliably, when it should and when it shouldn't.</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">And in fact, we've actually had recalls over the years when we had
a problem with that and we discovered there might be something that just wasn't as good as it should be, and we've recalled those
products as necessary. We do take that very seriously. Again, I would ask you to refer to the March 12th letter. And again, we
will be reporting as required, on February of 2019, in compliance with the shareholder proposal.</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">Mike Solberg: Again, my name is Mike Solberg, a pastor in Hinsdale,
Illinois, and part of the Do Not Stand Idly By campaign of Metro-IAF, as I said, an organization of hundreds of faith-based and
civic organizations that addresses matters of common concern to the citizens that are part of our organizations.</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">I was honestly surprised, Mr. Killoy, at the tone of your opening
remarks in rejection of the shareholder resolution. You wanted to make it clear, right from the start, that you're not giving an
inch to this shareholder resolution. That you will complete the report as required, but that your intent is not really to engage
with the shareholders who care about this, nor with possible customers for whom it would add value to the Company to respond in
a cooperative way.</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">What the ICCR resolution is looking for, and what my organization
is looking for, is engagement. The reality of gun violence in our society is a complicated, multifaceted issue. The gun manufacturers
are not the only part of the problem, but there is a big problem, and a solution is multifaceted.</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">And so, as a shareholder, I am concerned at the Company's unwillingness
to engage with other shareholders, other possible customers, in trying to figure out how we can reduce the use of our guns in murders
and other crimes, not through the standard distribution markets that you recognize, but through secondary markets, which everyone
knows full well exist, and which manufacturers can take measures to begin to describe.</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">You say that it's a law enforcement issue and that all of your wholesalers
and their retail outlets are federally licensed, and yet, everyone knows that the feds do not have the ability to enforce all of
the requirements, and that guns do end up in the hands of the wrong people, and are used for crimes, and that we as a manufacturer
have a responsibility to try to engage the issue and figure out ways to improve the situation for the reputation of our company,
and for the wellbeing of the American public.</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">So, Mr. Killoy, again I ask, will you meet with Metro-IAF and the
Do Not Stand Idly By campaign within 30 days, along with your discussions with ICCR, to address these issues and engage with the
public about the safety measures that have been put before you?</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">Chris Killoy: Thank you, Reverend. The short answer is no, we will
not be meeting, and the real reason is we don't meet with any of our individual shareholders. We don't go meet with the big institutional
shareholders; we don't hold meetings with our largest institutional shareholders, like Black Rock or Vanguard.</P>

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

<!-- Field: Page; Sequence: 15 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">First, that could be in violation of Regulation FD, or Fair Disclosure,
from the SEC, that when we disclose information regarding our business to one shareholder, we have to disclose it to all. Consequently,
that's why we have a series of 8-K reports on our website, when it's something that we want all of our shareholders to be aware
of.</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">Mike Solberg: Well, sir, I'll make sure there are no shareholders
in the room, and the rest of our people can meet with you.</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">Chris Killoy: Regardless, I don't think those people, or even the
shareholders who would advance what I would consider to be activist or well-intentioned proposals have our company's best interest
at heart.</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">Our company's best interest is served by meeting the needs of our
customers at the wholesale, retail, and consumer level, and those customers -- and we have a fiduciary responsibility to our shareholders
to ensure a fair return on their investment in the Company. And we don't see that people who ask us to stop manufacturing firearms
that are perfectly legal and sold throughout the country is in the best interest of our shareholders.</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">Mike Solberg: But that's what I want to do. I want to clarify that's
not what we're doing. We are not gun control advocates. We are not encouraging you not to make certain weapons. We are encouraging
you to take the reputational risks of this issue seriously and engage with those who want to make a difference.</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">Chris Killoy: I can assure you reputational risks is a big factor,
and in our 10-K, we outline key risk factors to our business. And reputational risk can result in either legislation, litigation,
or decreased demand from our consumers, all of which we outline as risk factors in our 10-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">Mike Solberg: Well, I hope that all of the shareholders listening
around the world are listening to this continued policy of non-engagement on an issue that obviously matters to over half of the
shareholders of the Company.</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">C. Michael Jacobi: If I may interrupt, I just want to remind everyone
that the purpose of this time is to ask questions. It's not intended to be a political forum or opportunity to air your views.
So, if you would, please, limit yourself to questions germane to the Company and the business at hand, I would appreciate it.</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">Mike Solberg: I appreciate the comment, but all of my comments have
been aimed at the reputational risk of the Company, not what you would consider to be political statements.</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">C. Michael Jacobi: All right, are there any other--?</P>

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

<!-- Field: Page; Sequence: 16 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Terrell Williams: First, I am a former Marine and a gun owner. My
name is Terrell Williams. I'm an organizer with BUILD and IAF. I run a program in Baltimore City for people who are incarcerated,
and helping them to get living-wage jobs.</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">But today, I am here to urge you to act. I am here to say can you
be, really, a part of the solution? Your guns are the second most common gun collected by police in crimes in every city from which
we have collected data. And I'd like to ask, does the prevalence of these guns in police statistics, are there serious risks to
the Company's reputation and its future?</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">I was shot in 2001. I was shot driving from D.C. to St. Louis to
visit my dying father. I was fortunate to survive, but many people are not. This type of gun violence happens every day in our
cities. This past Saturday, two teens were shot; one of them was killed. His father had just taken him, three weeks earlier, to
Hampton University. He was a star lacrosse player, captain of the team. This issue of gun violence must be dealt with, from our
stakeholders and stockholders alike.</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">On life-or-death situations, we cannot sit on the side. Together,
I believe we can do a better job with background checks. Together, I believe that we can change the capacity on magazines. Together,
I believe that we could work together to bring to market a secure, safe, smart and traceable product.</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">Maybe you haven't had your skin pierced by a bullet, or someone
you love, or the people who look like you. Certainly, those that look like me suffer from it every single day. You have a seat
at this table. I need you to have a seat at the solution table. You can't be spectators. We have to act.</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">There are two African-American men in this room today. I am one,
and there is one on your board. I am saying to you, you've got to listen to us. We need to meet with you, Mr. Killoy. We need your
attention. I believe Ruger can be a leader in this industry. But I believe that you're a smart, capable executive that can make
great decisions, but I believe instead of starting with products, we have got to begin to start with people and think about how
this great product we make is affecting people every single day.</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">I ask of you, think about it. Reconsider meeting with us. We are
not an advocacy group. We are a group who cares about people, and I care about my gun, so that is not the issue here. I want us
to continue to move forward. I want us to continue to have a profitable organization, but we have to be sensible, and that's all
we ask. Just meet with us. Thank you so much.</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">Chris Killoy: Thank you. Well, sir, first, thanks for the question;
thank you for your service. As I mentioned before, we will not be meeting with individual shareholders or groups, but I would encourage
you to potentially meet with the National Shooting Sports Foundation, which represents multiple manufacturers within the industry.
That may be an appropriate first step for that conversation.</P>

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

<!-- Field: Page; Sequence: 17 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Terrell Williams: Sir, could you help us get that meeting, please?</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">Chris Killoy: I can certainly get you their contact information
and let -- get you all that --</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">Terrell Williams: I take that as a yes.</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">Chris Killoy: I will put you in -- I will give you their contact
information, and reach out to them, and let them know you'll be contacting them.</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">Terrell Williams: We'll appreciate that; thank you.</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">Jafar Azmayesh: Good morning, Jafar Azmayesh, 1776 Holdings. There
are some quality assets on the market, as you're aware, and certainly probably don't want to or can't get into specifics, but I'm
hoping to get a definitive answer on a very general question, which is this, all else being equal, would you rather acquire a ammunition
operation or a gun brand?</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">Chris Killoy: Were you in our board meeting yesterday? We do talk
about that. One of the challenges is some of the firearms brands on the market duplicate quite heavily some of the products that
we already are into. If something comes on the market, if there's an opportunity, we're just going to take a look at it.</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">On the ammunition side, that might make sense as well. The challenge
with ammunition is you collectively, within Ruger, we have a great management team, a great operations team, very skilled in lean
manufacturing, but frankly, none of us have ever run an ammunition company.</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">We don't have to worry about hedging on commodities, and things
like that. That's one of the things we might take a long, hard look at, but we'd have to ground ourselves with the fact that we
don't have a lot of experience in that part of the business. But it's certainly on the table, if those potential transactions come
down the road or become available.</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">Jafar Azmayesh: And is our analysis correct that there's not a lot
of players that are able to do a big deal? Everybody's pretty hamstrung, and of those who could do a potentially reasonably-sized
deal, Ruger would probably be amongst the few?</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">Chris Killoy: I think that's probably a safe assumption. A lot of
the big banks no longer want to be in this space, so you've got the financial buyers that may not be supportive of those transactions.
And so, it may be strategic buyers that maybe have the better opportunity.</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">Colleen Scanlon: Colleen Scanlon. I'd like to ask one more question.
I'm from Catholic Health Initiatives. In your statement of opposition to our shareholder proposal, you state that smart gun technology
is not available. I think what the shareholders are asking is what you can do to change that reality. Will you put that on your
agenda, so that the same security, tracing protections I have on my iPhone will be on guns in the near future, so as to protect
our society, our communities, the individuals who live in them and particularly our children?</P>

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

<!-- Field: Page; Sequence: 18 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Chris Killoy: Thank you. First off, we wouldn't disclose proprietary
or confidential information about what we're working on or what we're not, to everything down to what's the next caliber in a new
firearm to something like individual user technology or smart gun technology, so-called.</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">One of the things to point out, though, it goes without saying,
an iPhone, if you drop it a couple of times, it's not going to function like it should. A firearm is an extremely robust operating
system, and there are a lot of challenges. Just because you can get your fingerprint recognition on an iPhone doesn't mean that
can work on a firearm.</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">But, again, we don't comment on anything that we might or might
not be looking at. We'll certainly, I believe that was one of the topics in the shareholder proposal, so we'll certainly report
on that, as appropriate to the proposal as drafted and approved by the shareholders.</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">C. Michael Jacobi: Are there any other questions?</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">Unidentified Participant: I'm [Maria Christina Pagwinowen], also
with Metro-IAF and the Do Not Stand Idly By campaign. I'm from Baltimore, and yesterday, at 7:42 in the morning, my son Ben turned
10 years old. I was in my car, driving to the airport to try and catch a 9:25 flight to Phoenix, and as you can imagine, the decision
to come here was a difficult one.</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">And last week, when I was struggling with the decision whether or
not to come, I decided to talk with Ben. I told him about the meeting and what it was about, why I felt it was important, and my
dilemma. He's a bright and thoughtful boy, and I wanted to know what he thought.</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">And so, the first thing he said was, Well, Mom, I need some more
time to think about it. And so, I checked back in with him after an hour, and he looked at me very seriously with his eyebrows
furrowed and said, Mom, I really think you should go. And I said, Why, Ben? It means I'm going to be gone for your birthday. And
he said, Well, Mommy, it's a really big problem, and if there's something you can do to help, you should go.</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">And so, my son Ben, just shy of his 10th birthday, was able to give
voice to a key moral, human truth that if there's a problem, and it's within your power to do something, you should. The 19th chapter
in the book of Leviticus, 16th verse, puts it this way when it comes to human life, When your neighbor's life is threatened, do
not stand idly by.</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">I cannot stand idly by, because people who I know have lost their
lives to the misuse of guns, including a young man that I taught in middle school before I became a priest. His name is Dominique
Dungee, and two years ago, at the age of 26, he was shot and killed in Baltimore, and it was a case of mistaken identity.</P>

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

<!-- Field: Page; Sequence: 19 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">And so, my question to you is, will you and Strum, Ruger also not
stand idly by, and use the power that you have to engage with us and people who want to see a change? And will you reply to this
RFI, request for information, that's been signed and supported by 123 jurisdictions, to move forward and be part of the solution?</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">Chris Killoy: I believe we have a copy of the RFI, Kevin?</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">Kevin Reid: Yes, we have it, yes.</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">Chris Killoy: Let me take a look at that when I get back to the
office, and I will take a look at it and consider that. We do not plan, as I said, to do individual shareholder meetings. And again,
I would tell you that Ruger is very concerned, and always has been, about our business practices. We work closely with the ATF.
We work closely with federal, state, and local law enforcement on enforcement of existing firearms laws.</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">Every Ruger firearm, by the time it gets to the background check
that takes place at retail with a federal Form 4473, has already gone from one of Ruger factories, where we undergo periodic ATF
inspections, and for the last five or six years, we've had zero violations from the ATF inspections.</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">It goes from our federal firearms license to a wholesaler, also
federally licensed, then to a retailer, also federally licensed. And then, before the consumer can buy it, it goes through a federal
background check. Based on the individual states, those are somewhat different as to how they're handled, but all of them get that
federal background check at retail.</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">So, we're proud to work with that system. We're proud to continue
to support that, enhance it. We supported the NNSFs, our industry trade association's, FixNICS campaigns to better improve that
background check process and improve the state of mental health records in the FBI database, and we've been supportive of that
since 2013. But I will take a look at that RFI when I get back. I think Mr. Reid has a copy, and we'll take a look at it.</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">Unidentified Participant: Thank you. I just respectfully ask, when
might we expect a response, just so that we can have our eyes and ears open?</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">Chris Killoy: We'll take a look at it, and Kevin, when we get back,
and we can -- within the next 30 days, we can. Now, that doesn't mean I'm going to respond in something that you're going to necessarily
appreciate or like, but I'll take a look at it, I'll read every point, and I'll get back to you on it.</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">Unidentified Participant: Thank you.</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">Mike Solberg: I'm sure I've taken my two minutes; Mike Solberg again.
But, Mr. Reid, I just wanted to ask a very specific question. Can you report the actual percentages of the vote on the shareholder
resolution? You reported a majority, but will you report the actual percentages, please?</P>

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

<!-- Field: Page; Sequence: 20 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Kevin Reid: Those will get filed with the 10-K. That information
will become available.</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">Mike Solberg: You're not able to make it public right now?</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">Kevin Reid: No, not right now.</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">C. Michael Jacobi: Are there any other questions? Okay, there being
no other business to come before the meeting, I'll ask for a motion to adjourn.</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">Unidentified Company Representative: Mr. Chairman, I move that the
2018 annual meeting of stockholders of the Company be adjourned.</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">C. Michael Jacobi: May I have a voice vote on the motion? All in
favor, signify by saying aye.</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">The 2018 annual meeting of the stockholders of the Company is hereby
adjourned. On behalf of the board of directors, I would like to thank you for attending the meeting and for your continued support
of the Company. Thank you.</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">Chris Killoy: And one final statement as all of you head home today.
Ruger, like all companies, is a collection of people. In our case, we are Americans who work together to produce rugged, reliable,
innovative, and affordable firearms for responsible citizens.</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">We are staunch supporters of the Second Amendment, not because we
make firearms, but because we cherish the rights conferred by it. We understand the importance of those rights, and as importantly,
we recognize that allowing our constitutionally-protected freedoms to be eroded for the sake of political expediency is a wrong
approach for our company, for our industry, for our customers and for our country.</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">We are arms makers for responsible citizens, and I want to assure
our long-term shareholders and loyal customers that we have no intention of changing that. Thank you.</P>



<P STYLE="margin: 0">&nbsp;</P>

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

<!-- Field: Page; Sequence: 21 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"></DIV>
    <DIV STYLE="margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
