<SEC-DOCUMENT>0000950170-24-060137.txt : 20240515
<SEC-HEADER>0000950170-24-060137.hdr.sgml : 20240515
<ACCEPTANCE-DATETIME>20240515105657
ACCESSION NUMBER:		0000950170-24-060137
CONFORMED SUBMISSION TYPE:	SD
PUBLIC DOCUMENT COUNT:		2
<RULE>
<RULE-NAME>13p-1
<ITEM>
<ITEM-NUMBER>1.01
<ITEM-PERIOD>20231231
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<ITEM-NUMBER>1.02
<ITEM-PERIOD>20231231
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FILED AS OF DATE:		20240515
DATE AS OF CHANGE:		20240515

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			RICHARDSON ELECTRONICS, LTD.
		CENTRAL INDEX KEY:			0000355948
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-ELECTRONIC PARTS & EQUIPMENT, NEC [5065]
		ORGANIZATION NAME:           	07 Trade & Services
		IRS NUMBER:				362096643
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0601

	FILING VALUES:
		FORM TYPE:		SD
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-12906
		FILM NUMBER:		24948207

	BUSINESS ADDRESS:	
		STREET 1:		40W267 KESLINGER RD
		STREET 2:		PO BOX 393
		CITY:			LAFOX
		STATE:			IL
		ZIP:			60147
		BUSINESS PHONE:		630 208-2200

	MAIL ADDRESS:	
		STREET 1:		40W267 KESLINGER ROAD
		STREET 2:		P.O. BOX 393
		CITY:			LAFOX
		STATE:			IL
		ZIP:			60147

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	RICHARDSON ELECTRONICS LTD/DE
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>SD
<SEQUENCE>1
<FILENAME>conflict_minerals_cy_202.htm
<DESCRIPTION>SD
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  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:14pt;font-family:Times New Roman;min-width:fit-content;">UNITED STATES</font></p>
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  <p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:6pt;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">SPECIALIZED DISCLOSURE REPORT</font></p>
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   <tr style="height:9pt;word-break:break-word;white-space:pre-wrap;">
    <td style="vertical-align:bottom;border-bottom:0.5pt solid;padding-right:0.01in;text-align:left;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;min-width:fit-content;">Edward J. Richardson</font></p></td>
    <td style="padding-left:0.1in;vertical-align:bottom;border-bottom:0.5pt solid;"><p style="font-size:4pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;min-width:fit-content;">&#160;</font></p></td>
    <td style="vertical-align:bottom;border-bottom:0.5pt solid;padding-right:0.01in;text-align:left;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;min-width:fit-content;">(630) 208-2316</font></p></td>
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  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">(Name and telephone number, including area code, of the person to contact in connection with this report.)</font></p>
  <p style="font-size:10pt;margin-top:10pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">Check the appropriate box to indicate the rule pursuant to which this form is being filed, and provide the period to which the information in this form applies:</font><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:10pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:'Segoe UI Symbol',sans-serif;min-width:fit-content;">&#9746;</font><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;"> Rule l3p-l under the Securities Exchange Act (17 CFR240.l3p-l) for the reporting period from January 1 to December 31, 2023.</font></p>
  <p style="padding-bottom:1pt;font-size:10pt;margin-top:0.25pt;font-family:Times New Roman;margin-bottom:0;border-bottom:1.5pt double;text-align:left;"><font style="white-space:pre-wrap;font-size:7pt;font-family:Times New Roman;min-width:fit-content;">&#160;</font></p>
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  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-size:6pt;font-family:Times New Roman;min-width:fit-content;">&#160;</font></p>
  <p style="font-size:10pt;margin-top:0.1pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">&#160;</font></p>
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  <div style="padding-top:0.5in;min-height:1in;box-sizing:border-box;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-size:11pt;font-family:Times New Roman;min-width:fit-content;">&#160;</font></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-size:6pt;font-family:Times New Roman;min-width:fit-content;">&#160;</font></p></div>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">Section 1 - Conflict Minerals Disclosure</font></p>
  <p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">Items 1.01 and 1.02 Conflict Minerals Disclosure and Report; Exhibit</font></p>
  <p style="text-indent:4.08%;font-size:10pt;margin-top:10pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">Richardson Electronics, Ltd. (&#34;we,&#34; &#34;us,&#34; &#34;the Company&#34; and &#34;our&#34;) is a leading global manufacturer of engineered solutions, power grid and microwave tubes, and related consumables; power conversion and RF and microwave components; high-value replacement parts, tubes, and service training for diagnostic imaging equipment; and customized display solutions. Nearly 55% of our products are manufactured in LaFox, Illinois, Marlborough, Massachusetts and Donaueschingen, Germany, or by one of our manufacturing partners throughout the world.  All of our partners manufacture to our strict specifications and per our supplier code of conduct. We serve customers in the alternative energy, healthcare, aviation, broadcast, communications, industrial, marine, medical, military, scientific, and semiconductor markets. The Company&#x2019;s strategy is to provide specialized technical expertise and &#x201c;engineered solutions&#x201d; based on our core engineering and manufacturing capabilities. The Company provides solutions and adds value through design-in support, systems integration, prototype design and manufacturing, testing, logistics, and aftermarket technical service and repair through its global infrastructure.</font></p>
  <p style="text-indent:4.08%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">We are committed to being a responsible corporate citizen and are opposed to human rights abuses such as those occurring in the Democratic Republic of the Congo (the &#34;DRC&#34;). We also take seriously our compliance obligations under Rule l3p-l under the Securities Exchange Act of 1934, as amended, and Form SD (collectively, the &#34;Conflict Minerals Rule&#34;). To these ends, we have adopted and communicated to our suppliers and the public a company policy statement (the &#34;Conflict Minerals Policy&#34;) for the supply chain of conflict minerals. As used herein and in the Conflict Minerals Policy, &#34;conflict minerals&#34; are columbite-tantalite (coltan), cassiterite, gold, wolframite and their derivatives tantalum, tin and tungsten, without regard to the location of origin of the minerals or derivative metals. The Conflict Minerals Policy includes, but is not limited to, our expectations that our suppliers share our philosophy and are buying from conflict-free sources.</font></p>
  <p style="text-indent:4.08%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">As a distributor and manufacturer of electronic components, the Company does not condone the use of any conflict minerals in the products we supply. Currently, most manufacturers cannot provide detailed information as to the ultimate source of the minerals used in manufacturing electronic components because of the complex and fragmented supply chains involved. Similarly, companies like Richardson Electronics, which resell products manufactured by other companies, have virtually no visibility into the source of the minerals used by such manufacturers.</font></p>
  <p style="text-indent:4.08%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">In cases where we buy materials deemed to be conflict materials (in particular, gold, tantalum, tin or tungsten) to use in our own manufacturing, we are working with our suppliers to ensure they share our philosophy and are buying from conflict-free sources. We are committed to taking proactive measures to ensure that products and raw materials we receive from our suppliers are responsibly sourced.</font></p>
  <p style="font-size:10pt;margin-top:10pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">Conflict Minerals Disclosure</font></p>
  <p style="text-indent:4.08%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">In accordance with the Conflict Minerals Rule, a Conflict Minerals Report is provided as an Exhibit to this Form SD and is available at the following Internet website: </font><font><font style="white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">http://www.rell.com.</font><font style="white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;"> </font></font><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">The information contained on our website is not incorporated by reference into this Form SD or our Conflict Minerals Report and should not be considered part of this report or the Conflict Minerals Report.</font></p>
  <p style="text-indent:4.08%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">To comply with the final Conflict Minerals Rule, we conducted due diligence on the source and chain of custody of the conflict minerals that were necessary to the functionality or production of the products that we manufactured to determine whether these conflict minerals originated in the Democratic Republic of the Congo or an adjoining country (collectively, &#34;Covered Countries&#34;) and financed or benefited armed groups in any of these countries.</font></p>
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  <p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#0f0f0f;white-space:pre-wrap;font-weight:bold;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">Section 2 - E</font><font style="color:#2b2b2b;white-space:pre-wrap;font-weight:bold;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">x</font><font style="color:#0f0f0f;white-space:pre-wrap;font-weight:bold;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">hibits</font></p>
  <p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#0f0f0f;white-space:pre-wrap;font-weight:bold;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">Item 2.01 E</font><font style="color:#2b2b2b;white-space:pre-wrap;font-weight:bold;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">x</font><font style="color:#0f0f0f;white-space:pre-wrap;font-weight:bold;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">hibits</font></p>
  <p style="font-size:10pt;margin-top:0.4pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">&#160;</font></p>
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  <title>EX-1.01</title>
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    <td style="vertical-align:top;text-align:center;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;min-width:fit-content;">Exhibit 1.01</font></p></td>
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  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">&#160;</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">Conflict Minerals Report</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">&#160;</font></p>
  <p style="text-indent:4%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">Richardson Electronics, Ltd. (&#34;we,&#34; &#34;us,&#34; &#34;the Company&#34; and &#34;our&#34;) has included this Conflict Minerals Report as an exhibit to its Form SD for calendar year 2023 in accordance with Rule l3p-l under the Securities Exchange Act of 1934, as amended, and Form SD (collectively, the &#34;Conflict Minerals Rule&#34;). The date of filing of this Conflict Minerals Report is May 15, 2024.</font></p>
  <p style="text-indent:4%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">&#160;</font></p>
  <p style="text-indent:3.92%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">&#34;Conflict Minerals&#34; are defined columbite-tantalite (coltan), cassiterite, gold, wolframite and the derivatives tantalum, tin and tungsten, without regard to the location of origin of the minerals or derivative metals.</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">&#160;</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">Forward-Looking Statements</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">&#160;</font></p>
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  <p style="text-indent:4.04%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">&#160;</font></p>
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  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">Product Status Summary</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">&#160;</font></p>
  <p style="text-indent:4%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">For calendar year 2023, we determined four materials used in our manufacturing process contain conflict minerals. </font><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">Tantalum</font><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;"> is used by a healthcare supplier,</font><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:9pt;font-family:Times New Roman;min-width:fit-content;"> tin</font><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;"> is used in our plating and soldering operations, thoriated</font><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:9pt;font-family:Times New Roman;min-width:fit-content;"> tungsten</font><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;"> is used as a filament in one particular glass tube and </font><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">gold</font><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;"> is used in our assemblies that are supplied to the semiconductor industry.</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><font style="white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">&#160;</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">Due Diligence Program Design</font></p>
  <p style="text-indent:4%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">&#160;</font></p>
  <p style="text-indent:4%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">We designed our due diligence measures relating to Conflict Minerals to conform with, in all material respects, the criteria set forth in the Organization for Economic Cooperation and Development's (the &#34;OECD&#34;) Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas, as supplemented by the Supplement on Tin, Tantalum and Tungsten and the Supplement on Gold (Second Edition 2013) (collectively, the &#34;OECD Guidance&#34;).</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">&#160;</font></p>
  <p style="text-indent:4%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">According to its website, the mission of the OECD is to promote policies that will improve the economic and social well-being of people around the world; and the OECD provides a forum in which its member countries and other constituencies can work together to share experiences and seek solutions to common problems.</font></p>
  <p style="text-indent:4%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">&#160;</font></p>
  <p style="text-indent:4%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">The OECD Guidance is a collaborative government-backed multi-stakeholder initiative on responsible supply chain management of minerals from conflict-affected areas. Its objective is to help companies respect human rights and avoid contributing to conflict through their mineral sourcing practices. The OECD Guidance also is intended to cultivate transparent mineral supply chains and sustainable corporate engagement in the mineral sector with a view to enabling countries to benefit from their natural mineral resources and preventing the extraction and trade of minerals from becoming a source of conflict, human rights abuses and insecurity. While not legally binding, the adoption of the OECD Guidance at the ministerial level by the OECD reflects the common position and political commitment of OECD members and non-members adhering to the OECD Declaration on International Investment and Multinational Enterprises.</font></p>
  <p style="text-indent:4%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">&#160;</font></p>
  <p style="text-indent:4%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">The OECD Guidance has established a five-step framework for due diligence as a basis for responsible global supply chain management of minerals from conflict-affected and high-risk areas. This framework consists of the following elements:</font></p>
  <p style="margin-left:6.667%;text-indent:-3.704%;padding-left:3.333%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:6pt;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">l.	Establish strong company management systems (&#34;Step One&#34;);</font></p>
  <p style="margin-left:6.667%;text-indent:-3.704%;padding-left:3.333%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:6pt;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">2.	Identify and assess risk in the supply chain (&#34;Step Two&#34;);</font></p>
  <p style="margin-left:6.667%;text-indent:-3.704%;padding-left:3.333%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:6pt;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">3.	Design and implement a strategy to respond to identified risks (&#34;Step Three&#34;);</font></p>
  <p style="margin-left:6.667%;text-indent:-3.704%;padding-left:3.333%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:6pt;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">4.	Carry out independent third-party audit of supply chain due diligence at identified points in the supply chain (&#34;Step Four&#34;); and</font></p>
  <p style="margin-left:6.667%;text-indent:-3.704%;padding-left:3.333%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:6pt;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">5.	Report on supply chain due diligence (&#34;Step Five&#34;).</font></p>
  <p style="text-indent:4%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">Our continued implementation of the OECD Guidance in respect to calendar year 2023 is discussed below.</font></p>
  <p style="text-indent:4%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">&#160;</font></p>
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  <p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">Due Diligence Program Execution</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">&#160;</font></p>
  <p style="text-indent:4%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">In regard to our Conflict Minerals due diligence, we performed the following due diligence measures in respect to calendar year 2023. These were not all of the measures that we took in furtherance of our Conflict Minerals Policy (as defined below) and Conflict Minerals compliance program or pursuant to the Conflict Minerals Rule and the OECD Guidance.</font></p>
  <div style="margin-left:6.259%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:6pt;min-width:4.537%;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:4.839931300071473%;display:inline-flex;justify-content:flex-start;">1.</font><div style="width:100%;display:inline;"><font style="color:#000000;white-space:pre-wrap;text-decoration:underline;font-size:9pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">OECD Guidance Step One</font><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">: &#34;Establish strong company management systems&#x201d;</font></div></div>
  <p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">                          a.  We previously adopted and communicated to our suppliers and the public a company policy statement (the &#34;Conflict Minerals</font></p>
  <p style="margin-left:10.8%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">      Policy&#34;) for  the supply chain of Conflict Minerals.  The Conflict Minerals Policy includes, but is not limited to, our expectations</font><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">   </font></p>
  <p style="margin-left:10.8%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:6pt;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">      that our suppliers share our philosophy and are buying from conflict-free sources.</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">                          b.  We developed a questionnaire based on the Conflict Minerals Reporting Template developed by the Responsible Minerals</font><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">   </font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">                                Initiative and Global e-Sustainability Initiative (&#x201c;RMI/GeSI&#x201d;) to identify smelters and refiners in our supply chain. We</font><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">                                established procedures to maintain business records relating to Conflict Minerals due diligence, including records of due</font><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">                                diligence processes, findings and resulting decisions.</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">&#160;</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">                          c.  Our terms and conditions with purchase orders to suppliers include language regarding compliance with the use of Conflict</font><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">  </font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">                               Minerals. This language includes that the supplier acknowledges that products shipped pursuant to our purchase order that contain</font><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">                               any Conflict Minerals were derived only from RMI/GeSI validated smelters. The language also stipulates that we have the right</font><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:6pt;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">                               to return any products which violate this requirement.</font></p>
  <div style="margin-left:6.259%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:6pt;min-width:4.537%;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:4.839931300071473%;display:inline-flex;justify-content:flex-start;">2.</font><div style="width:100%;display:inline;"><font style="color:#000000;white-space:pre-wrap;text-decoration:underline;font-size:9pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">OECD Guidance Step Two</font><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">: &#34;Identify and assess risk in the supply chain&#34;</font></div></div>
  <p style="margin-left:11.067%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">a. Our employees determined which of our products were in scope for purposes of the Conflict Minerals Rule through product</font><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">    </font></p>
  <p style="margin-left:11.067%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">    specifications, bills of material, supplier inquiries and other information known to us.</font></p>
  <p style="margin-left:11.067%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">b.  Our terms and conditions with purchase orders to suppliers include language regarding compliance with the use of Conflict</font><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <p style="margin-left:11.067%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">     Minerals. This language includes an acknowledgment from the supplier that products shipped pursuant to our purchase order that</font><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <p style="margin-left:11.067%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">     contain any Conflict Minerals were derived only from RMI/GeSI validated smelters. This language also stipulates that we have</font><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <p style="margin-left:11.067%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">     the right to return any products which violate this requirement.</font></p>
  <div style="margin-left:6.259%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:6pt;min-width:4.537%;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:4.839931300071473%;display:inline-flex;justify-content:flex-start;">3.</font><div style="width:100%;display:inline;"><font style="color:#000000;white-space:pre-wrap;text-decoration:underline;font-size:9pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">OECD Guidance Step Three</font><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">: &#34;Design and implement a strategy to respond to identified risks&#34;</font></div></div>
  <p style="margin-left:10.84%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:6pt;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">We identified risks and discussed appropriate strategies to mitigate these risks. All of the appropriate personnel within supply chain and manufacturing were part of these discussions.</font></p>
  <div style="margin-left:6.259%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:6pt;min-width:4.537%;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:4.839931300071473%;display:inline-flex;justify-content:flex-start;">4.</font><div style="width:100%;display:inline;"><font style="color:#000000;white-space:pre-wrap;text-decoration:underline;font-size:9pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">OECD Guidance Step Four</font><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">: &#34;Carry out independent third-party audit of supply chain due diligence at identified points in the supply chain&#34;</font></div></div>
  <p style="margin-left:10.84%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:6pt;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">The Company utilizes information made available by the Conflict-Free Sourcing Initiative in connection with independent third party audits of smelters and refiners within its supply chain. While the Company does not carry out independent third-party audits as contemplated by the OECD guidance, the Company reviews such information from time to time to assess and manage potential risks identified with respect to such smelters and/or refiners.</font></p>
  <div style="margin-left:6.259%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:6pt;min-width:4.537%;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:4.839931300071473%;display:inline-flex;justify-content:flex-start;">5.</font><div style="width:100%;display:inline;"><font style="color:#000000;white-space:pre-wrap;text-decoration:underline;font-size:9pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">OECD Guidance Step Five</font><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">: &#34;Report on supply chain due diligence&#34;</font></div></div>
  <p style="margin-left:10.84%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:6pt;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">We have filed a Form SD and this Conflict Minerals Report with the Securities and Exchange Commission and made available on our website the Form SD and this Conflict Minerals Report.</font></p>
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