<SEC-DOCUMENT>0001104659-20-096061.txt : 20200817
<SEC-HEADER>0001104659-20-096061.hdr.sgml : 20200817
<ACCEPTANCE-DATETIME>20200817151528
ACCESSION NUMBER:		0001104659-20-096061
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20200811
ITEM INFORMATION:		Amendments to the Registrant's Code of Ethics, or Waiver of a Provision of the Code of Ethics
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20200817
DATE AS OF CHANGE:		20200817

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			RETRACTABLE TECHNOLOGIES INC
		CENTRAL INDEX KEY:			0000946563
		STANDARD INDUSTRIAL CLASSIFICATION:	SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
		IRS NUMBER:				752599762
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-16465
		FILM NUMBER:		201109588

	BUSINESS ADDRESS:	
		STREET 1:		511 LOBO LANE
		CITY:			LITTLE ELM
		STATE:			TX
		ZIP:			75068-0009
		BUSINESS PHONE:		9722941010

	MAIL ADDRESS:	
		STREET 1:		511 LOBO LANE
		CITY:			LITTLE ELM
		STATE:			TX
		ZIP:			75068-0009
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>tm2028787-1_8k.htm
<DESCRIPTION>FORM 8-K
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<!-- Field: Rule-Page --><DIV STYLE="margin-top: 12pt; margin-bottom: 3pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section 13 OR 15(d) of the
Securities Exchange Act of 1934</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; width: 30%">Date of Report (Date of earliest event reported)</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 0.25in; font: 10pt Times New Roman, Times, Serif; width: 70%">August 11, 2020</TD></TR>
</TABLE>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid"><FONT STYLE="font-size: 14pt">Retractable
Technologies, Inc.</FONT></P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 0.625in; text-align: left; width: 38%">Texas</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 30%">001-16465</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 32%">75-2599762</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; width: 38%; text-align: left">(State or other jurisdiction<BR>
 of incorporation)</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 30%; text-align: center">(Commission<BR>
 File Number)</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 32%; text-align: center">(IRS Employer<BR>
 Identification No.)</TD></TR>
</TABLE>




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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="border-bottom: Black 1pt solid; text-align: justify">511 Lobo Lane, Little Elm, Texas</TD>
<TD STYLE="border-bottom: Black 1pt solid; text-align: justify">75068-5295</TD>
</TR>     <TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify">(Address of principal executive offices)</TD>
<TD STYLE="text-align: justify">(Zip Code)</TD></TR>
</TABLE>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%">
<TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="white-space: nowrap; text-align: justify; width: 32%">Registrant's telephone number, including area code</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 0.25in; text-align: justify; width: 68%">(972)
294-1010</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: center; border-bottom: Black 0.5pt solid">None</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Former name or former address, if changed
since last report)</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">Securities registered pursuant to Section
12(b) of the Act:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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: 23%; border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Title of each class</FONT></TD>
    <TD STYLE="width: 34%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Trading Symbol(s)</FONT></TD>
    <TD STYLE="width: 43%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Name of each exchange on which registered</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Common Stock</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">RVP</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">NYSE American</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">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 (<U>see</U> General Instruction
A.2. below):</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"><FONT STYLE="font-family: Wingdings">&#168;</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: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&#168;</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: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&#168;</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: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&#168;</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: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 (&sect;230.405 of this chapter) or Rule 12b-2
of the Securities Exchange Act of 1934 (&sect;240.12b-2 of this chapter).</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 51%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 49%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Emerging growth company&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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">&#168;</FONT></P>

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

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

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

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

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</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"></TD><TD STYLE="width: 1in"><B>Item 5.05</B></TD><TD STYLE="text-align: justify"><B>Amendments to the Registrant&rsquo;s Code of Ethics, or Waiver of a Provision of the Code of
Ethics.</B></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On August 11, 2020,
the Directors of Retractable Technologies, Inc. (the &ldquo;Company&rdquo;) approved amendments to the Company&rsquo;s Code of
Business Conduct and Ethics (the &ldquo;Code&rdquo;). The Code applies to the Company&rsquo;s Directors, officers, and employees.
The amendments expand the Code&rsquo;s description of prohibited stock transactions, blackout periods, and adds a section on maintaining
a tolerant and respectful work environment. This description of the amendments to the Code does not purport to be complete and
is qualified in its entirety by reference to the full text of the amended Code, which is attached as Exhibit 14 to this report.
The revised Code has been posted on the Company&rsquo;s website at <U>www.retractable.com</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</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"></TD><TD STYLE="width: 1in"><B>Item 8.01</B></TD><TD STYLE="text-align: justify"><B>Other Events.</B></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On August 17, 2020,
the Company issued a press release, a copy of which is attached to this Form 8-K as Exhibit 99, announcing financial results as
of June 30, 2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</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"></TD><TD STYLE="width: 1in"><B>Item 9.01</B></TD><TD STYLE="text-align: justify"><B>Financial Statements and Exhibits.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(d) Exhibits</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</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"></TD><TD STYLE="width: 0.5in"><A HREF="tm2028787d1_ex14.htm" STYLE="-sec-extract: exhibit">14</A></TD><TD STYLE="text-align: justify"><A HREF="tm2028787d1_ex14.htm" STYLE="-sec-extract: exhibit">Code of Business Conduct and Ethics</A></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</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"></TD><TD STYLE="width: 0.5in"><A HREF="tm2028787d1_ex99.htm" STYLE="-sec-extract: exhibit">99</A></TD><TD STYLE="text-align: justify"><A HREF="tm2028787d1_ex99.htm" STYLE="-sec-extract: exhibit">Press release</A></TD></TR></TABLE>

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

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

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

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

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

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<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">DATE:&nbsp;&nbsp;August 17, 2020</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 10pt">RETRACTABLE TECHNOLOGIES, INC.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(Registrant)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 47%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">BY:</FONT></TD>
    <TD STYLE="padding-left: 0.125in; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    JOHN W. FORT III</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.125in">&nbsp;</TD>
    <TD STYLE="padding-left: 0.125in">&nbsp;</TD>
    <TD STYLE="padding-left: 0.125in"><FONT STYLE="font-size: 10pt">JOHN W. FORT III</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.125in">&nbsp;</TD>
    <TD STYLE="padding-left: 0.125in">&nbsp;</TD>
    <TD STYLE="padding-left: 0.125in; text-align: justify"><FONT STYLE="font-size: 10pt">VICE PRESIDENT, CHIEF FINANCIAL OFFICER, AND CHIEF ACCOUNTING OFFICER</FONT></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"></P>

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<DOCUMENT>
<TYPE>EX-14
<SEQUENCE>2
<FILENAME>tm2028787d1_ex14.htm
<DESCRIPTION>EXHIBIT 14
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 14</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Code of Business Conduct and Ethics</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>Introduction</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Retractable Technologies, Inc. (&ldquo;RTI&rdquo;
or the &ldquo;Company&rdquo;) has adopted this Code of Business Conduct and Ethics (the &ldquo;Code&rdquo;) to set forth the Company&rsquo;s
standards and practices relating to the business ethics of its directors, officers, and employees (directors, officers, and employees
are collectively referred to herein as &ldquo;Covered Persons&rdquo;). The Code is in addition to, and not in replacement of, other
policies the Company may currently have in place. RTI has adopted this Code to deter wrongdoing and to promote:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.75in; text-align: center"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Honest
                                         and ethical conduct, including the ethical handling of actual or apparent conflicts of
                                         interest between personal and professional relationships;</FONT></TD>
</TR>                                                                                                                                                           <TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Full,
                                         fair, accurate, timely, and understandable disclosure in reports and documents that RTI
                                         files with, or submits to, the United States Securities and Exchange Commission (&ldquo;SEC&rdquo;)
                                         and in other public communications made by RTI;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Compliance
                                         with applicable governmental laws, rules, and regulations as well as NYSE American rules
                                         and regulations;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                         prompt internal reporting of violations of the Code to appropriate RTI personnel; and</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.75in; text-align: center"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accountability
                                         for adherence to the Code.</FONT></TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The effectiveness of this Code depends
in part on the cooperation of all directors, officers, and employees in promptly disclosing to the designated persons within the
Company any conduct believed to violate the standards described in this Code. To that end, the Company has established procedures
to ensure that Covered Persons may report any suspected violations anonymously. The Company encourages such reports and has zero
tolerance for retaliation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company seeks to foster a culture of
compliance with applicable laws, rules, and regulations and the highest standards of business conduct. All Covered Persons at the
Company are expected to promote this culture of compliance. Suspected violations of this Code or applicable laws, rules, or regulations
must be reported, and the Company will take appropriate steps to investigate them internally. Violators will be subject to discipline,
as deemed appropriate by the Company in its sole discretion, including immediate termination.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This Code is neither a contract nor a comprehensive
manual that covers every situation Covered Persons might encounter. This Code creates no contractual rights. If any Covered Person
has a question about any provision of this Code, or about how Covered Persons should conduct themselves in a particular situation,
such person should consult his/her supervisor or department head, the Company's General Counsel, or the Director of Human Resources.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Standards of Conduct</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The success of RTI depends on public confidence
in our integrity and professionalism. To reinforce that confidence, RTI expects all directors, officers, and employees to observe
the highest standards of professional, responsible, and appropriate conduct in the course and scope of their duties and while engaged
in RTI&rsquo;s business. Director, officer, and employee conduct away from work should not adversely affect the Company, its reputation,
its operational success, or its relationship with employees, customers, vendors, investors, lenders, or others doing business with
RTI. This Code sets forth the standards of conduct expected of all Covered Persons and prohibits general areas of irresponsible
or inappropriate conduct.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Conflicts of Interest and Corporate
Opportunities</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-style: normal; font-weight: normal">Covered
Persons must ensure that any financial, business, or other activities in which such persons are involved outside the workplace
are free of conflicts with responsibilities to RTI. A &ldquo;conflict of interest&rdquo; may occur when a Covered Person&rsquo;s
private interest in any way interferes - or even appears to interfere - with the interests of the Company. A conflict situation
can arise when a Covered Person has interests that may impair the objective performance of his or her duties to the Company. Conflicts
of interest may also arise when a Covered Person (or his or her family member) receives improper personal benefits as a result
of his or her position in the Company.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">Covered
Persons </FONT>must disclose any matter that they believe might raise doubt regarding their ability to act objectively and in the
Company's best interest. The following is a non-exhaustive list of examples of situations involving potential conflicts of interest
that should be disclosed:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%">
<TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.75in; text-align: center"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ownership
    by a Covered Person or by a member of his/her immediate family of an interest in any outside enterprise which does or seeks
    to do business with, or is a competitor of, the Company;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Serving
    as an officer, director, partner, consultant, or in a managerial or technical capacity with an outside enterprise which does
    or is seeking to do business with, or is a competitor of, the Company;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Acting
    as a broker, finder, go-between, or otherwise for the benefit of a third party in transactions involving, or potentially involving,
    the Company or its interest;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any
    other arrangements or circumstances, including family or other personal relationships, which might dissuade the Covered Person
    from acting in the best interest of the Company;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Communicating
    with shareholders, partners, investors, the media, suppliers, customers, brokers, consultants, or other third parties on confidential
    matters concerning the Company. All communication must be consistent with established business procedures;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Giving
    testimony as a compensated or uncompensated expert witness for either party for a dispute in litigation or arbitration, whether
    or not RTI is involved;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any
    Company loan to any Covered Person or Company guarantee of any personal obligation;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Using
    Company assets, intellectual property, or other resources for personal gain;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Taking
    an opportunity that came to you as a result of your position without first offering it to the Company; and</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.75in; text-align: center"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accepting
    anything of more than nominal value - such as gifts, discounts, or compensation - from an individual or entity that does or
    seeks to do business with the Company.</FONT></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">Directors and officers shall disclose any
actual or apparent conflict situation to the General Counsel. Employees who are not officers shall disclose all such situations
of which they are aware to any designee set forth in the &ldquo;Reporting and Enforcement&rdquo; section of this Code.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Company directors must notify the Board
of Directors before accepting any position as an officer or director of any outside business concern or entity that has a business
relationship with RTI, or that now is or foreseeably is expected to become a competitor of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Company officers and employees must obtain
necessary approvals before accepting (i) any position as an officer or director of an outside business concern, or (ii) any position
as an officer or director of a not-for-profit entity if there is or may be a Company business relationship with the entity or an
expectation of financial or other support from the Company. Company officers must obtain such approvals from the Board of Directors;
other employees must obtain such approvals from the General Counsel or the Director of Human Resources.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Directors, officers, and employees who
have obtained such approvals must promptly notify the appropriate persons specified above in the event of any change in the nature
of such business concern's or entity's relationship with the Company or if such concern or entity later becomes a competitor of
the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All Covered Persons owe a duty to the Company
to advance its legitimate interests. Thus, Covered Persons may not (i) take for themselves corporate opportunities that are discovered
through the use of Company property, information, or position, without first offering such opportunities to the Company; (ii) use
corporate property, information, or position for personal gain; or (iii) compete with the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Directors and officers of RTI must adhere
to their fundamental duties of good faith, due care, and loyalty owed to all shareholders, and to act at all times with the Company's
and its shareholders' best interests in mind.</P>

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

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

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    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The protection of confidential and proprietary
business information and trade secrets is vital to the interests and success of RTI. RTI is engaged in the manufacture, sale, and
distribution of medical devices. Such medical devices, now existing or to be developed, comprise technology which is expressly
proprietary and confidential in nature and protected from infringement by federal and state laws.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">RTI prohibits the disclosure or use of
RTI&rsquo;s confidential product data and other proprietary, trade secret, or confidential information. This includes all information
or data obtained by Covered Persons during the course of their work. Confidential information is any Company information that is
not known generally to the public or the industry and includes, without limitation, all processes and procedures, technical data,
marketing strategies, pending projects and proposals, computer records, customer and contract information, personnel files, financial
and marketing data, formulas, trade secrets, product specifications, compensation, and financial data, inventory, inventions, formulas,
techniques, product development strategies, programs, technological developments, systems, concepts, and any other information
used in RTI&rsquo;s operations or in RTI&rsquo;s possession and not generally known about RTI&rsquo;s business.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As a condition of employment, all employees
must, upon request, execute and abide by agreements not to disclose RTI&rsquo;s protectable interests both during and after employment
with RTI.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All Covered Persons must act fairly, honestly,
and in good faith in any dealings on behalf of the Company with any of its customers, suppliers, competitors, employees, and all
others. Furthermore, in their role with the Company, Covered Persons may not take unfair advantage of anyone through manipulation,
concealment, abuse of privileged information, misrepresentation of material facts, or any other unfair-dealing practice.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Protection and Proper Use of Company
Assets</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Covered Persons should protect and seek
to ensure the efficient use of Company assets. In addition, Covered Persons should protect against the improper disclosure, theft,
or misuse of the Company's intellectual and physical property.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Compliance with Laws, Rules, and Regulations/Insider
Trading</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">It is the policy of RTI to conduct business
in accordance with the applicable laws, rules, and regulations of the United States and all other countries in which RTI operates.
Each and every director, officer, and employee must comply with the law. Unethical business practices will subject Covered Persons
to appropriate internal disciplinary action and may result in prosecution for violating federal, state, or foreign laws.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All Covered Persons and third parties who
are in a confidential relationship with RTI (as well as such individuals&rsquo; household members and close relatives), shall not
trade in or recommend the purchase or sale of RTI&rsquo;s common shares (or any other equity or debt securities of RTI) while they
are in possession of material information regarding the operations or prospects of RTI that has not been publicly disclosed and
disseminated.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Covered Persons shall also similarly abstain
from trading in, or recommending the purchase or sale of the securities of any other company that issues publicly-traded securities
of which they have obtained material non-public information as a result of their employment by or affiliation with RTI. Covered
Persons shall not disclose any such material non-public information to third parties except when done for valid business purposes.
In such cases the Covered Persons must have no reason to believe the information will be misused or the disclosure might otherwise
violate Federal securities laws. United States securities laws prohibit selective disclosures of material non-public information
to third parties who are not bound by confidentiality agreements or certain confidential relationships to preserve the confidentiality
of such information. Covered Persons should consult with the Legal Department before making disclosures to third parties that might
constitute selective disclosure or if they believe a selective disclosure may have already been made by inadvertence or otherwise.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;Material information&rdquo; is information
which, if publicly disclosed, could reasonably be expected to affect the market value of a company&rsquo;s securities or to influence
a reasonable investor&rsquo;s decisions with respect to those securities. Specific examples of material information include generally
unanticipated changes in revenues, annual and quarterly earnings or dividend rates, significant write-offs or significant increases
in reserves, public offerings of any RTI securities, significant acquisitions or dispositions, joint ventures, proposed tender
offers or stock splits, and senior management changes. Information regarding major new product developments, collaborations, suppliers,
customers, contract awards or terminations, expansion plans, or significant litigation or regulatory proceedings may also fall
in the category of material information.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Information that has not been disclosed
to the public is generally considered to be nonpublic information. In order to establish that the information has been disclosed
to the public, it may be necessary to demonstrate that the information has been widely disseminated. Information generally would
be considered widely disseminated if it has been disclosed through newswire services, a broadcast on widely-available radio or
television programs, publication in a widely-available newspaper, magazine or news website, or public disclosure documents filed
with the SEC that are available on the SEC&rsquo;s website. By contrast, information would likely not be considered widely disseminated
if it is available only to the Company&rsquo;s employees, or if it is only available to a select group of analysts, brokers and
institutional investors. Once information is widely disseminated, it is still necessary to afford the investing public with sufficient
time to absorb the information. As a general rule, information should not be considered fully absorbed by the marketplace until
after the second business day after the day on which the information is released.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Announcements of quarterly or annual financial
results almost always has the potential to have a material effect on the market for the Company&rsquo;s securities. Therefore,
to avoid the appearance of trading on the basis of material, non-public information, the Company has determined that blackout periods
shall be in effect until the end of the second trading day following public announcement of financial results. If, for example,
the Company were to make an announcement on a Monday, you should not trade in Company securities until Thursday. The same blackout
period shall apply in all cases where the Company has made a public announcement which is likely to materially affect its financial
results. Questions about blackout periods should be directed to the Company&rsquo;s Chief Financial Officer. Trading outside a
blackout period should not be considered a &ldquo;safe harbor&rdquo; and Covered Persons shall use good judgment at all times.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Prohibited Stock Transactions</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company considers it improper and inappropriate
for any director or employee of the Company to engage in short-term or speculative transactions in the Company&rsquo;s securities.
It, therefore, is the Company&rsquo;s policy that directors and employees may not engage in any of the following transactions except
as is otherwise set forth below:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><U>Short-Term Trading</U>. An
employee&rsquo;s short-term trading of the Company&rsquo;s securities may be distracting to the employee and may unduly focus the
employee on the Company&rsquo;s short-term stock market performance instead of the Company&rsquo;s long-term business objectives.
For these reasons, any director or employee of the Company who purchases Company securities in the open market (not including by
exercise of options) may not sell any Company securities of the same class during the six months following the purchase.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><U>Short Sales</U>. Short sales
of the Company&rsquo;s securities evidence an expectation on the part of the seller that the securities will decline in value and,
therefore, signal to the market that the seller has no confidence in the Company or its short-term prospects. In addition, short
sales may reduce the seller&rsquo;s incentive to improve the Company&rsquo;s performance. For these reasons, short sales of the
Company&rsquo;s securities are prohibited by this Code. In addition, Section 16(c) of the Securities Exchange Act of 1934 prohibits
officers and directors from engaging in short sales.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">In certain
circumstances, the Company may approve broker-assisted cashless exercises of options, but only for employees who are not directors
or officers.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><U>Publicly Traded Options</U>.
A transaction in options is, in effect, a bet on the short-term movement of the Company&rsquo;s stock and, therefore, creates the
appearance that the director or employee is trading based on inside information. Transactions in options also may focus the director&rsquo;s
or employee&rsquo;s attention on short-term performance at the expense of the Company&rsquo;s long-term objectives. Accordingly,
transactions in puts, calls, or other derivative securities, on an exchange or in any other organized market, are prohibited by
this Code. Option positions arising from certain types of hedging transactions are governed by the section below captioned &ldquo;Hedging
Transactions.&rdquo;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><U>Hedging Transactions</U>.
Certain forms of hedging or monetization transactions, such as zero-cost collars and forward sale contracts, allow an employee
to lock in much of the value of his or her stock holdings, often in exchange for all or part of the potential for upside appreciation
in the stock. These transactions allow the director or employee to continue to own the covered securities but without the full
risks and rewards of ownership. When that occurs, the director or employee may no longer have the same objectives as the Company&rsquo;s
other shareholders. Therefore, directors and employees are required to have these transactions precleared before engaging in any
such activities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The foregoing restrictions are not intended
to prevent Covered Persons from buying or selling securities pursuant to properly established and administered &ldquo;Rule 10b5-1
Plans&rdquo; which may be used to permit trading pursuant to certain kinds of prearranged plans even if a person subsequently comes
into possession of material non-public information. Contact the Legal Department to establish such a Plan. The restrictions also
do not apply to the exercise of an employee stock option. They do, however, apply to the sale of shares resulting from an option
exercise.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Officers and directors without Rule 10b5-1
Plans must consult the Company&rsquo;s Chief Financial Officer to preclear their trades and determine necessary reporting obligations
associated with their trades.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Questions or concerns about compliance
issues should be raised by any of the means indicated in the &ldquo;Reporting and Enforcement&rdquo; section of this Code.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Full, Fair, Accurate, Timely, and Understandable
Disclosure</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">RTI is committed to ensuring that all business
records and financial reports are accurate, complete, understandable, and not misleading. The Company is further committed to complying
with applicable laws requiring the fair and timely disclosure of material information and ensuring the accuracy of publicly disseminated
information. To that end, RTI maintains internal control over financial reporting and disclosure controls and procedures designed
to provide reasonable assurance of the safeguarding and proper management of the Company's assets; the reliability of its financial
reporting in compliance with generally accepted accounting principles; and compliance with applicable laws and regulations. The
Company is committed to maintaining disclosure controls and procedures designed to ensure that financial and non-financial information
is collected, analyzed, and timely reported in full compliance with applicable law.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If at any time a Covered Person obtains
or becomes aware of information causing them to believe that the Company's books or records are not being maintained properly,
or that its financial condition or results of operations are not being disclosed appropriately, the matter should be reported directly
by any of the means indicated under &ldquo;Reporting and Enforcement Mechanisms&rdquo; below.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Tolerance and Respect</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">RTI expects its Covered Persons to treat
each other with tolerance and respect and will not permit discrimination, harassment, bullying, or violent conduct at work. If
a Covered Person becomes aware of behavior which could cause a hostile or disrespectful workplace, the matter should be reported
as indicated under &ldquo;Reporting and Enforcement&rdquo; below. Similarly, RTI desires to maintain its reputation for respect
outside the workplace. Covered Persons must ensure social media and other online posts referencing or relating to the Company must
be consistent with our values and not disparage our reputation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Reporting and Enforcement</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As a director, officer, or employee of
this Company, Covered Persons are obligated to (1) comply with this Code and all applicable laws, rules, and regulations, and (2)
report any situation or conduct they believe may constitute a possible violation of the Code or the law. Failure to report or disclose
relevant information concerning a violation of the Code or the law may be grounds for disciplinary action.</P>

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

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

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    <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: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If any Covered Person learns of a potential
or suspected violation of the Code, such Covered Person has an obligation to report the relevant information to one of the persons
listed below. Covered Persons may also address questions about ethics issues and raise any concerns about a possible violation
of the Code or applicable law to:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.75in; text-align: center"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">a supervisor or department head;</FONT></TD>
</TR>                                                                                                                                                                                                                                                                                                                           <TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">the General Counsel of RTI; and/or</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.75in; text-align: center"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">the Director of Human Resources.</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Frequently, a supervisor or department
head will be in the best position to resolve the issue quickly. However, Covered Persons may also raise any question or concern
with any of the other persons listed above. Covered Persons may do so orally or in writing and, if preferred, anonymously. All
supervisors and department heads who receive such reports must forward them promptly to the General Counsel.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If the issue or concern relates to the
internal accounting controls of the Company or any auditing matter, Covered Persons may also report it anonymously to the Audit
Committee, pursuant to procedures established by the Audit Committee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Penalties for Violations</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">RTI is committed to taking prompt and consistent
action in response to violations of this Code. Any Covered Person who violates the Code is subject to disciplinary action, including
immediate termination in the case of employees. The Company will promptly investigate reports of suspected violations. It will
evaluate suspected violations on a case-by-case basis and apply an appropriate sanction, including, in its sole discretion, reporting
the violation to outside authorities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Waivers and Amendments</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Only the Board of Directors may waive application
of or amend any provision of this Code. A request for such a waiver should be submitted in writing to the Board of Directors, or
a Committee of the Board of Directors designated for this purpose, for its consideration. The Board of Directors will promptly
disclose to investors, by means of a filing with the SEC, all amendments to the Code as well as all waivers of the Code granted
to directors or officers, including the reasons for such waivers.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">I acknowledge that I have read and understand
this Code of Business Conduct and Ethics.</P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; width: 7%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Signature:</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 43%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Print name:</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date:</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>


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

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

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<DESCRIPTION>EXHIBIT 99
<TEXT>
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<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 99</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>RETRACTABLE TECHNOLOGIES, INC. REPORTS
INCREASED INCOME AND SALES FOR SECOND QUARTER OF 2020</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">LITTLE ELM, TEXAS, August 17, 2020 &mdash;
Retractable Technologies, Inc. (NYSE American: RVP) reports that its operating income was $960 thousand in the second quarter of
2020, compared to an operating income for the same period last year of $329 thousand, and that income applicable to common shareholders
was $3.6 million for the second quarter of 2020. During the second quarter, Retractable had an increase in net sales of approximately
$2.0 million over the prior period, of which $1.4 million is attributable to sales to the U.S. Department of Health and Human Services
under a previously reported $83.8 million delivery order. Other material changes in the Statement of Operations for the three months
ended June 30, 2020 include an unrealized gain of approximately $900 thousand in an investment account and a recognition of approximately
$1.8 million in deferred tax assets. Retractable also reports recent activity under the $53.7 million Technology Investment Agreement
with the U.S. government, including placing orders for approximately $20 million in equipment and engagement of professionals to
expand Retractable&rsquo;s facilities in Little Elm, Texas.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Retractable reports the following results
of operations for the three and six months ended June 30, 2020 and 2019, respectively.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>Comparison of Three Months Ended June
30, 2020 and June 30, 2019</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; text-align: justify">Domestic sales accounted for 81.5% and
83.2% of revenues for the three months ended June 30, 2020 and 2019, respectively. Domestic revenues increased 20.1% principally
due to the increase in units sold. Domestic unit sales increased 25.4%. Domestic unit sales were 78.7% of total unit sales for
the three months ended June 30, 2020. International revenue and unit sales increased 35.6% and 25.2%, respectively, due to increased
orders. Overall unit sales increased 25.3%. With the exception of the Department of Health and Human Services, increased sales
are predominantly attributable to existing customers. Despite the global disruption of the pandemic, none of the markets in which
the Company sells its products have experienced material decline. Sales to the Department of Health and Human Services in the quarter
ended June 20, 2020 were approximately $1.4 million and the Company expects such sales to increase each quarter through May 2021.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Cost of manufactured product increased
by 21.1% principally due to the increase in the volume of units sold. Gross profit increased 25.3% primarily due to the increase
in net revenues.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Operating expenses increased 4.3%. The
increase was due to employee expenses such as added payroll and related costs and consulting fees.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Operating income was $960 thousand compared
to an operating income of $329 thousand for the same period last year due primarily to the increase in net revenues and resulting
gross profit.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Interest and other income increased $1.0
million for the quarter ended June 30, 2020 compared to the same period last year principally due to a $900 thousand unrealized
gain from an April 2020 investment in individual energy stocks. In addition to operating income, the increase in Interest and other
income contributed significantly to the increase in net income for the second quarter of 2020.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company&rsquo;s effective tax rate
on the income before income taxes was (85.1)% and 0.9% for the three months ended June 30, 2020 and June 30, 2019, respectively.
As of June 30, 2020, the Company released its valuation allowance for deferred tax assets based on evidence supporting the position
that the potential benefit would be &ldquo;more-likely-than-not&rdquo; realized. As a result of the release of the valuation allowance,
the Company recognized approximately $1.8 million in deferred tax assets and recognized the corresponding amount as a beneficial
income tax provision. The recognition of the benefit and deferred tax asset is reflected in the second quarter of 2020.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>Comparison of Six Months Ended June 30,
2020 and June 30, 2019</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Domestic sales accounted for 78.0% and
80.5% of the revenues for the six months ended June 30, 2020 and 2019, respectively. Domestic revenues increased 27.0% principally
due to the increase in units sold. Domestic unit sales increased 27.8%. Domestic unit sales were 72.6% of total unit sales for
the six months ended June 30, 2020. International revenue and unit sales increased 48.5% and 41.6%, respectively, due to increased
orders and the timing of the same. Overall unit sales increased 31.3%. As discussed above, sales to the Department of Health and
Human Services contributed significantly to second quarter results for 2020.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Cost of manufactured product increased
by 30.8% principally due to the increase in the volume of units sold. Gross profit increased 32.9% primarily due to the increase
in net revenues.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Operating expenses increased 9.4%. The
increase was due to an increase in employee headcount and related costs as well as consulting fees and an increase in the allowance
for doubtful accounts.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Operating income was $1.4 million compared
to an operating income for the same period last year of $154 thousand due primarily to increased net revenues and resulting gross
profit.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Interest and other income for the first
six months of 2020 increased $767 thousand compared to the same period last year principally due to unrealized gain on investments.
As discussed above, the Company&rsquo;s investment in individual stocks in April 2020 contributed significantly to this increase.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company&rsquo;s effective tax rate
on the income (loss) before income taxes was (74.8)% and 1.31% for the six months ended June 30, 2020 and June 30, 2019, respectively.
As of June 30, 2020, the Company released its valuation allowance for deferred tax assets based on evidence supporting the position
that the potential benefit would be &ldquo;more-likely-than-not&rdquo; realized.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Retractable manufactures and markets VanishPoint<SUP>&reg;</SUP>
and Patient Safe<SUP>&reg;</SUP> safety medical products and the EasyPoint<SUP>&reg;</SUP> needle. The VanishPoint<SUP>&reg;</SUP>
syringe, blood collection, and IV catheter products are designed to prevent needlestick injuries and product reuse by retracting
the needle directly from the patient, effectively reducing exposure to the contaminated needle. Patient Safe<SUP>&reg;</SUP> syringes
are uniquely designed to reduce the risk of bloodstream infections resulting from catheter hub contamination. The EasyPoint<SUP>&reg;</SUP>
is a retractable needle that can be used with luer lock syringes, luer slip syringes, and prefilled syringes to give injections.
The EasyPoint<SUP>&reg;</SUP> needle also can be used to aspirate fluids and for blood collection. Retractable's products are distributed
by various specialty and general line distributors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For more information on Retractable, visit
its website at <U>www.retractable.com.</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Forward-looking statements in this press
release are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 and reflect Retractable's
current views with respect to future events. Retractable believes that the expectations reflected in such forward-looking statements
are accurate. However, Retractable cannot assure you that such expectations will materialize. Actual future performance could differ
materially from such statements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Factors that could cause or contribute
to such differences include, but are not limited to: the impact of COVID-19 on all facets of logistics and operations, as well
as costs, Retractable&rsquo;s ability to complete capital improvements and ramp up domestic production in response to government
agreements, potential tariffs, Retractable's ability to maintain liquidity; Retractable's maintenance of patent protection; Retractable's
ability to maintain favorable third party manufacturing and supplier arrangements and relationships; foreign trade risk; Retractable's
ability to access the market; production costs; the impact of larger market players in providing devices to the safety market;
and other risks and uncertainties that are detailed from time to time in Retractable's periodic reports filed with the U.S. Securities
and Exchange Commission.</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">Retractable Technologies, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">John W. Fort III, 888-806-2626 or 972-294-1010</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Vice President, Chief Financial Officer, and Chief Accounting
Officer</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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