<SEC-DOCUMENT>0001214659-19-005726.txt : 20190909
<SEC-HEADER>0001214659-19-005726.hdr.sgml : 20190909
<ACCEPTANCE-DATETIME>20190909142504
ACCESSION NUMBER:		0001214659-19-005726
CONFORMED SUBMISSION TYPE:	PX14A6G
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20190909
DATE AS OF CHANGE:		20190909
EFFECTIVENESS DATE:		20190909

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMERICAN OUTDOOR BRANDS CORP
		CENTRAL INDEX KEY:			0001092796
		STANDARD INDUSTRIAL CLASSIFICATION:	ORDNANCE & ACCESSORIES, (NO VEHICLES/GUIDED MISSILES) [3480]
		IRS NUMBER:				870543688
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			0430

	FILING VALUES:
		FORM TYPE:		PX14A6G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31552
		FILM NUMBER:		191082909

	BUSINESS ADDRESS:	
		STREET 1:		2100 ROOSEVELT AVENUE
		CITY:			SPRINGFIELD
		STATE:			MA
		ZIP:			01104
		BUSINESS PHONE:		844-363-5386

	MAIL ADDRESS:	
		STREET 1:		2100 ROOSEVELT AVENUE
		CITY:			SPRINGFIELD
		STATE:			MA
		ZIP:			01104

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMERICAN OUTDOOR BRANDS CORPORATON
		DATE OF NAME CHANGE:	20170103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SMITH & WESSON HOLDING CORP
		DATE OF NAME CHANGE:	20020315

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SAF T HAMMER CORP/NV
		DATE OF NAME CHANGE:	20000404

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Intercommunity Peace & Justice Center
		CENTRAL INDEX KEY:			0001749378
		IRS NUMBER:				943083964
		STATE OF INCORPORATION:			WA
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		PX14A6G

	BUSINESS ADDRESS:	
		STREET 1:		1216 NE 65TH ST
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98115
		BUSINESS PHONE:		2062231138

	MAIL ADDRESS:	
		STREET 1:		1216 NE 65TH ST
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98115
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<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>SECURITIES
&amp; EXCHANGE COMMISSION&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>WASHINGTON,
D.C. 20549</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B></B></FONT><B><FONT STYLE="font-size: 12pt">NOTICE OF EXEMPT SOLICITATION</FONT></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Name of Registrant:</B> &nbsp;American Outdoor Brands Company</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Name of persons relying on exemption:</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">a.</FONT></TD><TD>Sisters of the Holy Names of Jesus and Mary, U.S.-Ontario Province</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">b.</TD><TD>Catholic Health Initiatives</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">c.</FONT></TD><TD>Congregation of St. Joseph</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">d.</FONT></TD><TD>Daughters of Charity, Province of St Louise</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">e.</FONT></TD><TD>Sisters of Bon Secours, USA</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">f.</FONT></TD><TD>Sisters of Providence, Mother Joseph Province</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">g.</FONT></TD><TD>Sisters of St. Joseph of Carondelet - St. Louis Province</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">h.</FONT></TD><TD>Sisters of the Holy Cross</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">i.</FONT></TD><TD>Unitarian Universalist Congregation at Shelter Rock</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Addresses of persons relying on exemption:</B>
&nbsp;Intercommunity Peace &amp; Justice Center, Northwest Coalition for Responsible Investment, 1216 NE 65th St, Seattle, Washington,
98115</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Written materials are submitted pursuant
to Rule 14a-6(g)(1) promulgated under the Securities Exchange Act of 1934.&nbsp;Submission is not required of this filer under
the terms of the Rule, but is made voluntarily in the interest of public disclosure and consideration of these important issues.</P>

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

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

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

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    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%">September 9, 2019</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>We urge you to vote FOR Proposal 4 on American Outdoor Brands
Corp&rsquo;s (&ldquo;AOBC&rsquo;s&rdquo; or the &ldquo;Company&rsquo;s&rdquo;) proxy card</U> at AOBC&rsquo;s annual shareholder
meeting on September 24, 2019. Proposal 4 is a shareholder proposal (the &ldquo;Proposal&rdquo;), which was submitted by the Sisters
of the Holy Names of Jesus and Mary, U.S.-Ontario Province and the co-filing shareholders set forth below<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>1</SUP></FONT>
(the &ldquo;Proponents&rdquo;), asking AOBC to adopt a comprehensive human rights policy, including a description of the processes
AOBC will use to identify, assess, prevent and mitigate adverse human rights impacts.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">AOBC misrepresents both the Proposal and the Proponents in its
Statement in Opposition to the Proposal. Contrary to AOBC&rsquo;s assertions, the Proposal is not incompatible with the Company&rsquo;s
business as a gun manufacturer. It would not require AOBC to assume unlimited liability for firearms misuse or to take any action
or public position in opposition to the Second Amendment. Nor is the Proposal a stealth effort to ban private ownership of firearms.
Instead, the Proposal urges that AOBC join leading companies that have adopted human rights policies and have committed to conducting
human rights due diligence in order to minimize harm, manage risks and protect their social license to operate.</P>

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

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

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

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">1.</FONT></TD><TD>Human rights policies and due diligence are widely used by companies to reduce business risk and meet their responsibility
to respect human rights.</TD></TR></TABLE>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">2.</FONT></TD><TD>The Proposal is compatible with AOBC&rsquo;s core business because it does not prescribe the principles AOBC should use to
identify adverse human rights impacts or the actions AOBC should take.</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><SUP>1</SUP></FONT> Co-filers
are Catholic Health Initiatives; Congregation of St. Joseph; Daughters of Charity, Province of St. Louise; Sisters of Bon Secours
USA; Sisters of Providence, Mother Joseph Province; Sisters of St. Joseph of Carondelet &ndash; St. Louis Province; Sisters of
the Holy Cross, Unitarian Universalist Congregation at Shelter Rock; and AOBC erroneously omitted these co-filers from its proxy
statement, despite the fact that they submitted identical proposals and indicated an intention to co-file with each other in their
cover letters, which suffices to establish co-filing relationships under SEC rules.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">3.</FONT></TD><TD>Human rights norms do not supersede national and state laws, so the Proposal would have no effect on AOBC&rsquo;s legal liability
for harms caused by the use of its products.</TD></TR></TABLE>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">4.</FONT></TD><TD>The Proponents did not submit the Proposal with the goal of achieving a ban on private ownership of firearms, which would entail
governmental rather than corporate action.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>The Context: Growing Risks for Gun Manufacturers</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The environment in which gun manufacturers operate is becoming
riskier. As of September 1, 283 mass shootings had occurred in the U.S. in 2019, more than one per day.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>2</SUP></FONT>
In an early August Politico poll, 73% of voters, including a majority of Republicans, said they supported stricter gun laws, an
increase from 67% in spring 2018.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>3</SUP></FONT>
Over a quarter of likely 2020 voters polled in July 2019 reported that their views on guns have changed in the past five years,
with over three quarters of those moving toward favoring stronger gun laws.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>4</SUP></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Large retailers continue to limit the kinds of guns and ammunition
they will sell. [This week,] Walmart announced that it will no longer sell ammunition for assault-style weapons or handguns or
allow open carry of weapons in its stores, following two August shootings in Walmart stores, including one in which 22 people were
killed. Already, Walmart had increased the minimum age for gun and ammunition purchases to 21, following the Parkland mass shooting.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>5</SUP></FONT>
The Parkland massacre also spurred Dick&rsquo;s Sporting Goods to stop selling AR-15-style and other semiautomatic weapons, limit
gun and ammunition sales to those 21 and over and press for gun control measures.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>6</SUP></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Investors are pressing gun manufacturers to adopt more responsible
practices to limit the harm caused by their products. Late last year, a coalition of 13 asset managers and public pension funds,
including State Street, the California State Teachers Retirement System, and the Connecticut Retirement Plans and Trust Funds,
issued &ldquo;Principles for a Responsible Civilian Firearms Industry,&rdquo;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>7</SUP></FONT>
advocating, among other things, that gun manufacturers should &ldquo;support, advance and integrate the development of technology
designed to make civilian firearms safer, more secure and easier to trace.&rdquo;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>8</SUP></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>2</SUP></FONT>
Mass shootings are defined as those in which at least four people were killed, excluding the shooter. <U>See</U> https://www.cbsnews.com/news/mass-shootings-2019-more-mass-shootings-than-days-so-far-this-year/.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><SUP>3</SUP></FONT> https://www.politico.com/story/2019/08/07/poll-most-voters-support-assault-weapons-ban-1452586</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><SUP>4</SUP></FONT> https://gqrr.app.box.com/s/uhyhyw8feuzp0cjh4hzlhuh6ba0ecryo</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><SUP>5</SUP></FONT> https://www.wsj.com/articles/walmart-to-stop-selling-ammunition-for-assault-style-weapons-11567530289</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><SUP>6</SUP></FONT> https://www.nytimes.com/2019/03/12/business/dicks-sporting-goods-stock-gun-control.html</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>7</SUP></FONT>
https://www.pionline.com/article/20181114/ONLINE/181119921/investor-coalition-issues-principles-to-improve-firearms-industry</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>8</SUP></FONT>
<U>See</U> http://www.firearmsprinciples.com/</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This scrutiny highlights the importance of comprehensively identifying
and analyzing adverse human rights impacts related to AOBC&rsquo;s business, as well as using a well-defined process to decide
what measures to prevent or remedy such impacts are appropriate.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Human Rights Policies and Due Diligence</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Proposal is based on the U.N. Guiding Principles (&ldquo;UNGPs&rdquo;)
on Business and Human Rights, a set of principles for states and companies to prevent, address and remedy human rights abuses in
business operations. Many companies, including Microsoft, Hershey, Shell, Coca Cola and Adidas, have adopted human rights policies
and undertaken human rights due diligence processes consistent with the UNGPs.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Human rights policies and due diligence processes should be
tailored to fit a company&rsquo;s activities, business relationships and operations. The UNGPs state that human rights due diligence
&ldquo;[w]ill vary in complexity with the size of the business enterprise, the risk of severe human rights impacts, and the nature
and context of its operations.&rdquo;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>9</SUP></FONT>
This flexibility allows companies to prioritize areas of highest risk.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>The Proposal is Compatible with AOBC&rsquo;s Core Business</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">AOBC contends that the actions requested in the Proposal would
conflict with private firearms ownership and thus be incompatible with AOBC&rsquo;s core business as a gun manufacturer. AOBC asserts
that the Proposal rejects the Second Amendment to the U.S. Constitution and asks the Company to take actions inconsistent with
it, which the Company claims would &ldquo;destroy its reputation with [its] consumers.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The corporate obligation to respect human rights applies to
all companies, regardless of their industry, and the Proponents believe that analyzing AOBC&rsquo;s activities and operations through
a human rights lens would allow AOBC to more effectively identify adverse impacts, manage risks and analyze possible responses.
The Proposal does not reject the Second Amendment or prescribe specific norms for inclusion in the policy or specify the human
rights due diligence processes AOBC should follow. The Proposal would thus not compel any particular substantive outcome, much
less the cessation of its core business, as AOBC claims.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><SUP>9</SUP></FONT> UNGPs, <U>supra</U>,
Principle 17(b).</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The lethality of AOBC&rsquo;s products does not preclude the
Company from taking the steps requested in the Proposal, as shown by cigarette manufacturer Philip Morris International&rsquo;s
adoption of a human rights policy and human rights due diligence process. While recognizing that smoking &ldquo;causes serious
disease and is addictive,&rdquo; Philip Morris&rsquo;s human rights policy describes its efforts to consult with stakeholders,
develop grievance mechanisms and prevent adverse impacts by developing less harmful products.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>10</SUP></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>The Proposal Would Not Impose Unlimited Liability on AOBC</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">AOBC urges that the Proposal would require AOBC to accept &ldquo;unlimited
financial and legal liability&rdquo; for &ldquo;the negative impact of guns on society.&rdquo; That claim is meritless.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Human rights policies and due diligence are not intended to
serve as elements of a liability framework by which companies are held accountable for past conduct.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>11</SUP></FONT>
National and state laws, including those imposing liability for harms caused by products, operate separately from human rights
obligations.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>12</SUP></FONT> Contrary to AOBC&rsquo;s
assertion, the Proposal would not require the Company to pay compensation for adverse impacts caused by its products or those manufactured
by other companies. AOBC could choose to pay compensation to remedy impacts it caused, but could not be compelled to do so by virtue
of having adopted a human rights policy and conducting due diligence.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>The Proposal is Not a Disguised Effort to Achieve a Ban on
Private Firearm Ownership</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Finally, AOBC argues that the Proposal is a stalking horse for
an effort to ban private ownership of firearms and accuses the Proponents of bad faith. The Statement in Opposition asserts, &ldquo;Proponent&rsquo;s
attempt to couch this anti-gun agenda as a concern for &lsquo;reputational risk&rsquo; or a risk related to our &lsquo;long-term
viability&rsquo; is dishonest and misleading.&rdquo; AOBC urges that the Proponents submitted the Proposal &ldquo;[p]urely to advance
[their] political agenda.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>10</SUP></FONT>
<U>See</U> &ldquo;Philip Morris International: Our Commitment to Human Rights&rdquo; (https://www.pmi.com/resources/docs/default-source/sustainability-reports-and-policies/pmi-commitment-to-human-rights.pdf?sfvrsn=43c091b5_2.).</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>11</SUP></FONT>
<U>See</U> Radu Mares, &ldquo;Human Rights Due Diligence and the Root Causes of Harm in Business Operations: A Textual and Contextual
Analysis of the Guiding Principles on Business and Human Rights,&rdquo; Northeastern University L. Rev. 10(1), 1-71, at 52 (2018)
(UNGPs are &ldquo;agnostic&rdquo; on theories of liability) (http://lup.lub.lu.se/search/ws/files/49047261/2018_The_UNGPs_and_the_Root_Causes_of_Infringements.pdf).</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>12</SUP></FONT>
<U>See</U> Office of the U.N. High Commissioner on Human Rights, &ldquo;Guiding Principles on Business and Human Rights,&rdquo;
at 1, comment to Principle 11 (2011) (hereinafter, &ldquo;UNGPs&rdquo;) (https://www.ohchr.org/documents/publications/GuidingprinciplesBusinesshr_eN.pdf)</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A ban on private firearm ownership would require governmental,
rather than corporate, action. Shareholder proposals, by definition, request corporate action, and the Proposal is no exception.
It would be unreasonable, then, to think that the Proposal could somehow lead to a ban.&nbsp;</P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Proponents&rsquo; proposal history belies the implication
that the Proponents do not believe that a human rights policy and due diligence process are value enhancing for companies. One
or more of the Proponents have filed shareholder proposals seeking a human rights policy or human rights due diligence at 17 companies
in the past 18 years. These proposals have been submitted to companies in many different industries, including aerospace, extractive,
correctional, telecommunications, food and consumer goods. This track record shows the Proponents&rsquo; commitment to advocating
for human rights policies and due diligence and undermines AOBC&rsquo;s attempt to question the Proponents&rsquo; credibility and
motivations.</P>



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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>WE ARE NOT SOLICITING AUTHORITY TO ACT
AS PROXY FOR ANY AOBC SHAREHOLDER. PROXY CARDS WILL NOT BE ACCEPTED BY ANY CO-FILER.&nbsp; PLEASE DO NOT SEND YOUR PROXY TO ANY
CO-FILER.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>TO VOTE YOUR PROXY, PLEASE FOLLOW THE
INSTRUCTIONS ON YOUR PROXY CARD.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>For questions regarding American Outdoor
Brands Corporation Item #4, please contact Judy Byron, OP, Northwest Coalition for Responsible Investment, (206) 223-1138 or&nbsp;jbyron@ipjc.org</I></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">6</P>

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

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