<SEC-DOCUMENT>0001171843-21-003830.txt : 20210527
<SEC-HEADER>0001171843-21-003830.hdr.sgml : 20210527
<ACCEPTANCE-DATETIME>20210527162645
ACCESSION NUMBER:		0001171843-21-003830
CONFORMED SUBMISSION TYPE:	SD
PUBLIC DOCUMENT COUNT:		2
<RULE>
<RULE-NAME>13p-1
<ITEM>
<ITEM-NUMBER>1.01
<ITEM-PERIOD>20201231
</ITEM>
<ITEM>
<ITEM-NUMBER>1.02
<ITEM-PERIOD>20201231
</ITEM>
</RULE>
FILED AS OF DATE:		20210527
DATE AS OF CHANGE:		20210527

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HARVARD BIOSCIENCE INC
		CENTRAL INDEX KEY:			0001123494
		STANDARD INDUSTRIAL CLASSIFICATION:	LABORATORY ANALYTICAL INSTRUMENTS [3826]
		IRS NUMBER:				043306140
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SD
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33957
		FILM NUMBER:		21973078

	BUSINESS ADDRESS:	
		STREET 1:		84 OCTOBER HILL RD
		CITY:			HOLLISTON
		STATE:			MA
		ZIP:			01746
		BUSINESS PHONE:		5088938999

	MAIL ADDRESS:	
		STREET 1:		84 OCTOBER HILL ROAD
		CITY:			HOLLISTON
		STATE:			MA
		ZIP:			01746
</SEC-HEADER>
<DOCUMENT>
<TYPE>SD
<SEQUENCE>1
<FILENAME>sd_052721.htm
<DESCRIPTION>SD
<TEXT>
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<p style="font-size: 10pt; text-align: center; margin: 0pt 0">UNITED STATES</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">SECURITIES AND EXCHANGE COMMISSION</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">Washington, D.C. 20549</p>

<p style="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>FORM SD</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>SPECIALIZED DISCLOSURE REPORT</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>&nbsp;</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>&nbsp;</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>Harvard Bioscience, Inc.</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">(Exact name of the registrant as specified in its charter)</p>

<p style="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; font-size: 10pt; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 33%; text-align: center; font-size: 10pt; vertical-align: middle"><font style="font-size: 10pt"><b>DELAWARE</b></font></td>
    <td style="width: 34%; text-align: center; font-size: 10pt"><font style="font-size: 10pt"><b>001-33957</b></font></td>
    <td style="width: 33%; text-align: center; font-size: 10pt"><font style="font-size: 10pt"><b>04-3306140</b></font></td></tr>
  <tr style="vertical-align: top">
    <td style="text-align: center; vertical-align: middle">
    <p style="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">(State or Other Jurisdiction of</p>
    <p style="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">Incorporation)</p></td>
    <td style="text-align: center; font-size: 10pt"><font style="font-size: 10pt">(Commission File Number)</font></td>
    <td style="text-align: center; font-size: 10pt"><font style="font-size: 10pt">(IRS Employer Identification Number)</font></td></tr>
  </table>
<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
  <tr>
    <td style="vertical-align: top; width: 50%; text-align: center"><font style="font-size: 10pt"><b>84 October Hill Road, Holliston, MA</b></font></td>
    <td style="vertical-align: bottom; width: 50%; text-align: center"><font style="font-size: 10pt"><b>01746</b></font></td>
    </tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><font style="font-size: 10pt">(Address of Principal Executive Offices)</font></td>
    <td style="text-align: center"><font style="font-size: 10pt">(Zip Code)</font></td>
    </tr>
  </table>
<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
  <tr style="vertical-align: bottom">
    <td style="text-align: right; width: 50%"><font style="font-size: 10pt"><b>Michael A. Rossi</b></font>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
    <td style="width: 50%; text-align: left"><font style="font-size: 10pt"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(508) 893-8999</b></font></td>
    </tr>
  <tr style="vertical-align: bottom">
    <td colspan="2" style="text-align: center"><font style="font-size: 10pt">(Name and telephone number, including area code, of the person to contact in connection with this report.)</font></td></tr>
  </table>
<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">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:</p>

<p style="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 0.25in; margin: 0pt 0">&nbsp;&nbsp; <font style="font-family: Wingdings">&yacute;</font> Rule
13p-1 under the Securities Exchange Act (17 CFR 240.13p-1) for the reporting period from January 1 to December 31, 2020.</p>

<p style="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

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<p style="margin: 0pt 0; font-size: 10pt"><b>Section 1 - Conflict Minerals Disclosure</b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b>Item 1.01&nbsp;&nbsp;&nbsp;Conflict Minerals Disclosure and Report</b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">Harvard Bioscience, Inc. (&ldquo;Harvard Bioscience&rdquo; or &ldquo;the Company&rdquo;) has
evaluated its current product lines and has determined in good faith that during 2020 it manufactured or contracted to manufacture products
as to which columbite-tantalite (coltan), cassiterite, gold, wolframite and their derivatives, which are limited to tantalum, tin, and
tungsten (herein referred to as &ldquo;Conflict Minerals&rdquo;) are necessary to the functionality or production of such products (herein
referred to as &ldquo;Covered Products&rdquo;). Based on such determination, Harvard Bioscience conducted a reasonable country of origin
inquiry, or RCOI, that was reasonably designed to determine whether any of the Conflict Minerals in the Covered Products originated in
the Democratic Republic of the Congo or an adjoining country (the Republic of the Congo, the Central African Republic, South Sudan, Uganda,
Rwanda, Burundi, Tanzania, Zambia or Angola) or were from recycled or scrap sources.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">Following the RCOI, Harvard Bioscience exercised due diligence on the source and chain of custody
of its applicable products. Information on the RCOI, steps we have taken to exercise due diligence on the source and chain of custody
of any Conflict Minerals in the Covered Products and the results of this due diligence, are disclosed in the Conflict Minerals Report
filed as Exhibit 1.01 to this Form SD.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b>Conflict Minerals Disclosure</b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">A copy of Harvard Bioscience&rsquo;s Conflict Minerals Report is filed as Exhibit 1.01 hereto
and is publicly available at: http://investor.harvardbioscience.com/corporate-governance.cfm. The content of any website referred to in
this Form SD is included for general information only and is not incorporated by reference in this Form SD.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b>Item 1.02&nbsp;&nbsp;&nbsp;Exhibit</b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">Harvard Bioscience, Inc. has filed its Conflict Minerals Report as Exhibit 1.01 to this Form
SD.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b>Section 2&nbsp;- Exhibits</b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b>Item 2.01&nbsp;&nbsp;Exhibits</b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
  <tr style="vertical-align: top">
    <td style="width: 11%"><a href="exh_101.htm"><font style="font-size: 10pt">Exhibit 1.01</font></a></td>
    <td style="width: 89%"><a href="exh_101.htm"><font style="font-size: 10pt">Conflict Minerals Report as required by Items 1.01 and 1.02 of this Form SD</font></a></td></tr>
  </table>
<p style="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b></b></p>

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<p style="margin: 0pt 0; font-size: 10pt; text-align: center"><b>SIGNATURES</b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">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 duly authorized undersigned.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
  <tr style="vertical-align: top">
    <td style="width: 31%; border-bottom: black 1pt solid; padding-left: 1.5pt"><font style="font-size: 10pt"><b>Harvard Bioscience, Inc.</b></font></td>
    <td style="width: 8%; padding-left: 1.5pt">&nbsp;</td>
    <td style="width: 20%; padding-left: 1.5pt">&nbsp;</td>
    <td style="width: 41%; padding-left: 1.5pt">&nbsp;</td></tr>
  <tr style="vertical-align: top">
    <td style="padding-left: 1.5pt"><font style="font-size: 10pt">(Registrant)</font></td>
    <td style="padding-left: 1.5pt">&nbsp;</td>
    <td style="padding-left: 1.5pt">&nbsp;</td>
    <td style="padding-left: 1.5pt">&nbsp;</td></tr>
  <tr style="vertical-align: top">
    <td style="padding-left: 1.5pt">&nbsp;</td>
    <td style="padding-left: 1.5pt">&nbsp;</td>
    <td style="padding-left: 1.5pt">&nbsp;</td>
    <td style="padding-left: 1.5pt">&nbsp;</td></tr>
  <tr style="vertical-align: top">
    <td style="border-bottom: black 1pt solid; padding-left: 1.5pt"><font style="font-size: 10pt">/s/ Michael A. Rossi</font></td>
    <td style="padding-left: 1.5pt">&nbsp;</td>
    <td style="text-align: center; border-bottom: black 1pt solid; padding-left: 1.5pt"><font style="font-size: 10pt">May 27, 2021</font></td>
    <td style="padding-left: 1.5pt">&nbsp;</td></tr>
  <tr style="vertical-align: top">
    <td colspan="2"><font style="font-size: 10pt">By: Michael A. Rossi, Chief Financial Officer</font></td>
    <td style="padding-left: 1.5pt; text-align: center">&nbsp;</td>
    <td>&nbsp;</td></tr>
  </table>
<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

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<DOCUMENT>
<TYPE>EX-1.01
<SEQUENCE>2
<FILENAME>exh_101.htm
<DESCRIPTION>EXHIBIT 1.01
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<p style="margin: 0">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: right"><b>Exhibit 1.01</b></p>

<p style="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><b>Harvard Bioscience, Inc.</b></p>

<p style="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><b>Conflict Minerals Report</b></p>

<p style="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><b>For the Year Ended December 31, 2020</b></p>

<p style="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><b>&nbsp;</b></p>

<p style="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><b>Forward Looking Statements</b></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><i>Forward-looking statements contained in this Report are made based
on known events and circumstances at the time of release, and as such, are subject in the future to unforeseen uncertainties and risks.
Statements in this Report which express a belief, expectation, or intention, as well as those that are not historical fact, are forward-looking
statements, including statements related to the Company&rsquo;s compliance efforts and expected actions identified in this Report. These
forward-looking statements are subject to various risks, uncertainties and assumptions, including, among other matters, the Company&rsquo;s
customers&rsquo; requirements to use certain suppliers, the Company&rsquo;s suppliers&rsquo; responsiveness and cooperation with the
Company&rsquo;s due diligence efforts, the Company&rsquo;s ability to implement improvements in its conflict minerals program and the
Company&rsquo;s ability to identify and mitigate related risks in its supply chain. If one or more of these or other risks materialize,
actual results may vary materially from those expressed. For a more complete discussion of these and other risk factors, see the Company&rsquo;s
other filings with the Securities and Exchange Commission (&ldquo;SEC&rdquo;), including its Annual Report on Form 10-K for the year
ended December 31, 2020 and subsequent Quarterly Reports on Form 10-Q. The Company makes these statements as of the date of this disclosure,
and undertakes no obligation to update them unless otherwise required by law.</i></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"><b><i>Conflict Minerals Disclosure</i></b></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">This report for the year ended December 31, 2020 is presented to comply with Rule 13p-1 under
the Securities Exchange Act of 1934, as amended (the &ldquo;Rule&rdquo;). The Rule was adopted by the Securities and Exchange Commission
(&ldquo;SEC&rdquo;) to implement reporting and disclosure requirements related to conflict minerals as directed by Section 1502 of the
Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the &ldquo;Section 1502 of the Dodd-Frank Act&rdquo;). The Rule imposes
certain reporting obligations on SEC registrants whose manufactured products contain conflict minerals which are necessary to the functionality
or production of their products. Conflict Minerals are defined as cassiterite, columbite-tantalite, gold, wolframite, and their derivatives,
which are limited to tin, tantalum, tungsten, and gold (&ldquo;Conflict Minerals&rdquo; or &ldquo;3TGs&rdquo;) for the purposes of this
report. These requirements apply to registrants whatever the geographic origin of the conflict minerals and whether or not they fund
armed conflict.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">As described in this report, Harvard Bioscience, Inc., a Delaware corporation (herein referred
to as &ldquo;Harvard Bioscience,&rdquo; the &ldquo;Company,&rdquo; &ldquo;we,&rdquo; &ldquo;us,&rdquo; or &ldquo;our&rdquo;) has reason
to believe that some of the Conflict Minerals present in its supply chain may have originated in the Covered Countries and therefore
performed due diligence on the source and chain of custody of the 3TGs in question to determine whether its products are &ldquo;DRC Conflict
Free.&rdquo; The Company designed its due diligence measures to conform, in all material respects, with the internationally recognized
due diligence framework in The Organisation for Economic Co-Operation and Development (&ldquo;OECD&rdquo;) Due Diligence Guidance for
Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas and the related supplements for gold, tin, tantalum
and tungsten (the &ldquo;OECD Guidance&rdquo;).&nbsp;&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">For purposes of this report, Covered Countries refers to the Democratic Republic of the Congo
(the &ldquo;DRC&rdquo;) and adjoining countries, defined as any country that shares an internationally recognized border with the Democratic
Republic of the Congo.&nbsp;&nbsp;We are unable with absolute assurance to determine the origin of the Conflict Minerals in our products
and therefore cannot exclude the possibility that some may have originated in the Covered Countries.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"><b><u>1. Company Overview</u></b></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">This report has been prepared by management of Harvard Bioscience. The information includes
the activities of all majority-owned subsidiaries as of December 31, 2020.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">Harvard Bioscience is a leading developer, manufacturer and seller of technologies, products
and services that enable fundamental research, discovery, and pre-clinical testing for drug development. The Company&rsquo;s customers
range from renowned academic institutions and government laboratories, to the world&rsquo;s leading pharmaceutical, biotechnology and
contract research organizations. With operations in North America, Europe and China, the Company sells through a combination of direct
and distribution channels to customers around the world.</p>

<p style="margin: 0pt 0; font-size: 10pt"><b><i>&nbsp;</i></b></p>

<p style="margin: 0pt 0; font-size: 10pt"><b><i>Conflict Minerals Policy</i></b></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">We adopted a conflict minerals policy in 2013 which is publicly available at http://investor.harvardbioscience.com/corporate-governance.cfm.</p>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 10pt"></p>

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<p style="margin: 0pt 0; font-size: 10pt"><b><u>2. Product Description</u></b></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">As of December 31, 2020, our broad core product range was organized into two commercial
product families: Preclinical devices and instruments and Cellular and Molecular technologies. As of December 31, 2020, we primarily
sold our products under brand names, including Harvard Apparatus, DSI (Data Scientific), Ponemah, Buxco, BTX, and MCS.&nbsp;&nbsp;Our products consist of instruments, consumables, and systems made up of several individual products. We
manufacture our products at our locations in the United States, Germany, Sweden and Spain. Our broad and complex product range may
contain conflict minerals within the following components:</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 15pt; text-align: right"><font style="font-family: Symbol; font-size: 10pt">&middot;</font></td><td style="width: 5pt"></td><td style="text-align: justify"><font style="font-size: 10pt">Tantalum,
                                            used in capacitors,</font></td>
</tr></table>

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 15pt; text-align: right"><font style="font-family: Symbol; font-size: 10pt">&middot;</font></td><td style="width: 5pt"></td><td style="text-align: justify"><font style="font-size: 10pt">Tin,
                                            used in soldered components,</font></td>
</tr></table>

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 15pt; text-align: right"><font style="font-family: Symbol; font-size: 10pt">&middot;</font></td><td style="width: 5pt"></td><td style="text-align: justify"><font style="font-size: 10pt">Tungsten,
                                            used in coatings, alloys, heating elements and electrodes,</font></td>
</tr></table>

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 15pt; text-align: right"><font style="font-family: Symbol; font-size: 10pt">&middot;</font></td><td style="width: 5pt"></td><td style="text-align: justify"><font style="font-size: 10pt">Gold,
                                            used in circuit boards, electrodes and electronic components.</font></td>
</tr></table>


<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"><b><u>3. Description of Reasonable Country of Origin Inquiry, or RCOI</u></b></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">We began our RCOI by completing a supplier list extraction from our Vendor List. This list
was then filtered to remove:</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 15pt; text-align: left">&bull;</td><td style="width: 5pt"></td><td style="text-align: justify">Service Providers/Suppliers</td>
</tr></table>

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 15pt; text-align: left">&bull;</td><td style="width: 5pt"></td><td style="text-align: justify">Indirect Materials Suppliers</td>
</tr></table>

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 15pt; text-align: left">&bull;</td><td style="width: 5pt"></td><td style="text-align: justify">Inactive Suppliers (minimum
                                            2 years since last purchase)</td>
</tr></table>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">This ensures that all suppliers surveyed provided items to Harvard Bioscience that were used
in final products in the year 2020. Once the filtering was completed, we populated the list with contact information and this list was
then provided to Assent Compliance (&ldquo;Assent&rdquo;), our third-party service provider, for upload to their Assent Compliance Manager
SaaS system (&ldquo;ACM&rdquo;). It was deemed appropriate to not further filter this list based on the necessity of the presence of
Conflict Minerals in the products as we could not definitively determine the presence or absence of Conflict Minerals in all parts supplied.
The survey employed the Responsible Minerals Initiative (RMI) Conflict Minerals Reporting Template (the &ldquo;CMRT&rdquo;), version
6.0 or higher, originally developed by the Responsible Business Alliance (RBA) and The Global e-Sustainability Initiative. The CMRT allows
for further scoping as they ask suppliers whether any of the Conflict Minerals are intentionally added and if they are necessary to the
functionality or production of their products. Assent conducted additional analysis of the supply chain and such analysis combined with
supplier feedback, allowed Assent and Harvard Bioscience to remove additional suppliers from scope of the conflict minerals regulation.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">Assent then conducted the supplier survey portion of the RCOI. During the supplier survey,
suppliers were contacted via the ACM, a SaaS platform that enables its users to complete and track supplier communications as well as
allow suppliers to upload completed CMRTs directly to the platform for assessment and management. Non-responsive suppliers were contacted
a minimum of three times by ACM and then were also managed by the Assent Compliance team in one-on-one communications. This includes
two to three direct follow ups from that team. Assent&rsquo;s communications with suppliers included training and education on the completion
of the CMRT to alleviate any remaining confusion with suppliers. All of these communications were monitored and tracked in Assent's system
for future reporting and transparency.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">The program continues to include automated data validation on all submitted CMRTs. The goal
of data validation is to increase the accuracy of submissions and identify any contradictory answers in the CMRT. This data validation
is based on questions within the declaration tab of the CMRT which helps to identify areas that require further classification or risk
assessment, as well as understand the due diligence efforts of suppliers. The results of this data validation contribute to the program&rsquo;s
health assessment and are shared with suppliers to ensure they understand areas that require clarification or improvement.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">All submitted forms are accepted and classified as valid or invalid so that data is retained.
Suppliers are contacted regarding invalid forms and are encouraged to submit a valid form. Suppliers are also provided with guidance
on how to correct these validation errors in the form of feedback to their CMRT submission, training courses and direct engagement help
through Assent&rsquo;s multilingual Supplier Experience team. Since some suppliers may remain unresponsive to feedback, Harvard Bioscience,
Inc. tracks program gaps to account for future improvement opportunities As of May 26, 2021, there were 6 invalid supplier submissions
that could not be corrected.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">As of May 26, 2021, there were 1,107 suppliers in scope of the conflict minerals program
and 456 provided a completed CMRT. The Company&rsquo;s total response rate including responses confirmed to be out of scope for
this reporting year was 47%.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">Assent compared the list of smelters and refiners provided in our suppliers&rsquo; responses
to the lists of smelters maintained by the RMI and, if a supplier indicated that a facility was certified as conflict-free, confirmed
that the facility was listed on RMI&rsquo;s list of validated conflict free smelters and refiners of 3TGs. Our suppliers identified a
total of 333 smelters and refiners that appear on the lists maintained by RMI. Of these 333 smelters and refiners, 237 are validated
as conflict free by RMI or a cross-recognized initiative, and, based on information provided by RMI, a further 8 have agreed to undergo
or are currently undergoing a third-party audit. Most of the CMRTs we received were made on a company or division level basis which did
not allow us to identify which smelters or refiners listed by our suppliers actually processed the 3TGs contained in our products. Based
on the RCOI, we had reason to believe that some of the 3TGs may have originated from the Covered Countries, therefore, in accordance
with the Rule, performed due diligence on the source and chain of custody of the conflict minerals in question<b>.</b></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"></p>

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<p style="margin: 0pt 0; font-size: 10pt"><b><u>4. Due Diligence Process</u></b></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"><b><i>4.1 Design of Due Diligen</i></b>ce</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">Our due diligence measures have been designed to conform, in all material respects, with the
framework in The Organisation for Economic Co-operation and Development (&ldquo;OECD&rdquo;) Due Diligence Guidance for Responsible Supply
Chains of Minerals from Conflict-Affected and High-Risk Areas (the &ldquo;OECD Guidance&rdquo;) and the related Supplements for Conflict
Minerals.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">The Guidance identifies five steps for due diligence that should be implemented and provides
guidance as to how to achieve each step. We developed our due diligence process to address each of these five steps, namely:</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<ol start="1" style="margin-top: 0in; list-style-type: decimal">

<li style="margin: 0pt 0; font-size: 10pt">Establishing strong company management systems regarding conflict minerals;</li>

<li style="margin: 0pt 0; font-size: 10pt">Identifying and assessing risks in our supply chain;</li>

<li style="margin: 0pt 0; font-size: 10pt">Designing and implementing a strategy to respond to identified risks in our supply chain;</li>

<li style="margin: 0pt 0; font-size: 10pt">Utilizing independent third-party audits of supply chain diligence; and</li>

<li style="margin: 0pt 0; font-size: 10pt">Publicly reporting on our supply chain due diligence</li>

</ol>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">We are a downstream supplier, many steps removed from the mining of 3TG. A large number of
suppliers, through multiple tiers of distribution, supply the components and materials integrated into our products. Furthermore, we
do not purchase raw ore or unrefined conflict minerals or make purchases from the Covered Countries. The origin of the conflict minerals
cannot be determined with any certainty once the raw ores are smelted, refined and converted to ingots, bullion or other conflict mineral
containing derivatives. The smelters and refiners consolidate raw ore and represent the best actors in the total supply chain to possess
knowledge of the origin of the ores they procure.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">The OECD Guidance specifies that the requirements for compliance should reflect a company&rsquo;s
position in the supply chain. In particular, the OECD Guidance states that the implementation of due diligence should be tailored to
a company&rsquo;s activities and relationships and that the nature and extent of due diligence may vary based on a company&rsquo;s size,
products, relationships with suppliers and other factors. Due to practical difficulties associated with supply chain complexities, the
OECD Guidance advises that downstream companies exercise due diligence primarily by establishing controls over their immediate suppliers.
Accordingly, we rely primarily on our &ldquo;tier 1&rdquo; (direct) suppliers to provide information with respect to the origin of the
conflict minerals contained in the components and materials supplied to us.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"><b><i>4.2 Management Systems</i></b></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"><b>Internal Team</b></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">Harvard Bioscience has established a cross-functional Conflict Minerals Compliance Team
led by the Company&rsquo;s head of global engineering. The Conflict Minerals Compliance Team is responsible for implementing the conflict
minerals compliance strategy and briefing senior management about the results of these due diligence efforts.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">The Company also uses a third-party service provider, Assent, to assist with evaluating supply
chain information regarding 3TGs, identifying potential risks, and in the development and implementation of additional due diligence
steps that the Company will undertake with suppliers in regard to conflict minerals.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">The Company leverages Assent&rsquo;s Managed Services in order to work with dedicated program
specialists who support Harvard Bioscience&rsquo;s conflict minerals program. The Company communicates regularly with the Assent team
in order to receive updates on program status. Each member of Assent&rsquo;s Customer Success team is trained in conflict minerals compliance
and understands the intricacies of the CMRT and conflict minerals reporting, as well as Section 1502 of the Dodd-Frank Act</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"><b>Control Systems</b></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">As we do not typically have a direct relationship with Conflict Minerals smelters and refiners,
we are engaged and actively cooperate with other major manufacturers in our sector and other sectors. Controls include, but are not limited
to, the use of the CMRT as the data collection format for our suppliers, and our Code of Business Conduct and Ethics which outlines certain
expected behaviors for all Harvard Bioscience employees. In addition, we rely on our direct suppliers to provide information on the origin
of the Conflict Minerals contained in components and materials supplied to us &ndash; including sources of Conflict Minerals that are
supplied to them from lower tier suppliers.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"><b>Supplier Engagement</b></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">With respect to the OECD requirement to strengthen engagement with suppliers, we have, through
Assent, provided education on the Conflict Minerals regulation as well as the expectations of the law and for a continued business relationship.
We put a strong emphasis on supplier education and training. To accomplish this, we utilized Assent&rsquo;s learning management system,
Assent University, and provided all in-scope suppliers access to their Conflict Minerals training course. This training is tracked and
evaluated based on completion. All suppliers are encouraged to complete all modules within this course.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"></p>

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<p style="margin: 0pt 0; font-size: 10pt"><b>Grievance Mechanism</b></p>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 10pt">Various communication channels exist to serve as grievance mechanisms for early-warning risk
awareness. We have multiple longstanding grievance mechanisms whereby employees (internal) and suppliers (external) can report violations
of our policies. This includes, but is not limited to our whistleblower policies that are part of our Code of Business Conduct and Ethics
policy located on our website at http://investor.harvardbioscience.com/corporate-governance.cfm. Any violations are reported to the Corporate
Compliance Officer.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">Violations or grievances at the industry level can be reported to the Responsible Mineral Initiative
(&ldquo;RMI&rdquo;) directly as well. This can be done at http://www.responsiblemineralsinitiative.org/responsible-minerals-assurance-process/grievance-mechanism/.</p>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 10pt"><b>Maintain Records</b></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">Our existing policy related to relevant documentation of our conflict mineral compliance process
requires that documentation will be retained for a period of at least five years. Through Assent, a document retention policy to retain
conflict minerals related documents, including supplier responses to CMRTs and the sources identified within each reporting period, has
been implemented. We store all of the information and findings from this process in a database that can be audited by internal or external
parties.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"><b><i>4.3 Identify and Assess Risk in the Supply Chain</i></b></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">Because of the complexity of our products, and the depth, breadth, and constant evolution of
our supply chain, it is difficult to identify actors upstream from our direct suppliers. Risks associated with supplier CMRT content
are identified automatically in the ACM based on criteria established for supplier responses. These risks are addressed by Assent staff
and members of the Company&rsquo;s internal Conflict Minerals Team, who contact the supplier, gather pertinent data and perform an assessment
of the supplier&rsquo;s conflict minerals status.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">Risks at the supplier level may include non-responsive suppliers, incomplete CMRTs, or CMRTs
that are submitted at the company level. In those cases where a company-level CMRT (such as when a company declares there are no 3TGs
in any of its products) is submitted, Harvard Bioscience, Inc. is unable to determine if all of the specified smelters and refiners were
used for 3TGs in the products supplied to the Company.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">Risks were identified by assessing the due diligence practices and status of smelters and refiners
identified in the supply chain by upstream suppliers that listed mineral processing facilities on their CMRT declarations. Assent compared
these facilities listed in the responses to the list of smelters and refiners consolidated by the RMI to ensure that the facilities met
the recognized definition of a 3TGs processing facility that was operational during the 2020 calendar year.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">Assent determined if the smelter had been audited against a standard in conformance with the
OECD Guidance, such as the Responsible Minerals Assurance Process (&ldquo;RMAP&rdquo;). Harvard Bioscience, Inc. does not have a direct
relationship with smelters and refiners and does not perform direct audits of these entities within their pre-supply chain. Smelters
that have completed an RMAP audit are considered to be DRC-conflict free. In cases where the smelter&rsquo;s due diligence practices
have not been audited against the RMAP standard or they are considered non-conformant by RMAP, follow-ups are made to suppliers reporting
those facilities. Smelters are then assessed for the potential for sourcing risk.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">Each facility that meets the RMI definition of a smelter or refiner of a 3TG mineral is assessed
according to red-flag indicators defined in the OECD Guidance. Assent uses numerous factors to determine the level of risk that each
smelter poses to the supply chain by identifying red flags. These factors include:</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<ol start="1" style="margin-top: 0in; list-style-type: decimal">

<li style="margin: 0pt 0; font-size: 10pt">Geographic proximity to the DRC and covered countries;</li>

<li style="margin: 0pt 0; font-size: 10pt">Known mineral source country of origin.</li>

<li style="margin: 0pt 0; font-size: 10pt">Responsible Minerals Assurance Process (RMAP) audit status;</li>

<li style="margin: 0pt 0; font-size: 10pt">Credible evidence of unethical or conflict sourcing;</li>

<li style="margin: 0pt 0; font-size: 10pt">Peer Assessments conducted by credible third-party sources.</li>

</ol>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">Risk mitigation activities are initiated whenever a supplier&rsquo;s CMRT reported facilities
of concern. Through Assent, suppliers with submissions that included any smelters of concern were immediately provided with feedback
instructing that supplier to take their own independent risk mitigation actions. Examples include the submission of a product specific
CMRT to better identify the connection to products that they supply to Harvard Bioscience, Inc. Additional escalation may have been necessary
to address any continued sourcing from these smelters of concern. Suppliers are given clear performance objectives within reasonable
timeframes with the ultimate goal of progressive elimination of these smelters of concern from the supply chain. In addition, suppliers
are guided to the educational materials on mitigating the risks identified through the data collection process.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">Suppliers are also evaluated on program strength, which assists in making key risk mitigation
decisions as the program progresses. The criteria used to evaluate the strength of the program is based on certain questions in the CMRT
related to the suppliers&rsquo; conflict minerals practices and policies.</p>


<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"></p>

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<p style="margin: 0pt 0; font-size: 10pt"></p>

<p style="margin: 0pt 0; font-size: 10pt"><b><i>4.4 Design and Implement a Strategy to Respond to Risks</i></b></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">Together with Assent, Harvard Bioscience, Inc. developed processes to assess and respond to
the risks identified in the supply chain. Harvard Bioscience, Inc. has a risk management plan, through which the conflict minerals program
is implemented, managed and monitored. As the program progresses, escalations are sent to non-responsive suppliers to outline the importance
of a response via CMRTs and to outline the required cooperation for compliance to the conflict minerals rules and the Company&rsquo;s
expectations.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">Feedback on supplier submissions is given directly to suppliers and educational resources are
provided to assist suppliers in corrective action methods or to improve their internal programs. The Company engages suppliers believed
to be supplying 3TGs from sources that may support conflict in the Covered Countries to establish an alternative source of 3TGs that
does not support such conflict, as provided in the OECD Guidance. Assent also communicates directly with smelters that have not yet been
determined to be conformant with the RMAP in order to request sourcing information and encourage their involvement with the RMI program.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">In cases where suppliers have continuously been non-responsive or are not committed to corrective
action plans, the Company will assess if replacing that supplier is feasible. The results of the program and risk assessment are shared
with the Conflict Minerals Team and the Harvard Bioscience, Inc.&rsquo;s Leadership Team to ensure transparency within the Company.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"><b><i>4.5 Carry out Independent Third-Party Audit of Supply Chain Due Diligence at Identified
Points in the Supply Chain</i></b></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">We do not have a direct relationship with smelters and refiners and therefore do not perform
or direct audits of these entities. However, we will rely on publicly available third-party assurances and certifications, for example,
through the RMI&rsquo;s Responsible Minerals Assurance Process &ldquo;RMAP&rdquo;. The RMAP uses independent private-sector auditors,
and audits the source, including the mines of origin, and the chain of custody of the conflict minerals used by smelters and refiners
that agree to participate in the program.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">Assent also directly contacts smelters and refiners that are not currently enrolled in the
RMAP to encourage their participation and gather information regarding each facilities&rsquo; sourcing practices on behalf of its compliance
partners. Harvard Bioscience, Inc. is a signatory of this communication in accordance with the requirements of downstream companies detailed
in the OECD Guidance.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"><b><i>4.6 Report Annually on Supply Chain Due Diligence</i></b></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">We report annually on our supply chain due diligence by filing a Form SD and a Conflict Minerals
Report with the SEC. Our Form SD and Conflict Minerals Report can be found on the Corporate Governance page of our website: http://investor.harvardbioscience.com/corporate-governance.cfm.
Information found on or accessed through this website is not considered part of this report and is not incorporated by reference herein.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"></p>

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<p style="margin: 0pt 0; font-size: 10pt"><b><u>5. Due Diligence Results</u></b></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"><b>Survey Responses</b></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">We are actively surveying our supplier chain. This year we surveyed 1,107 suppliers. Of those
suppliers we received CMRTs from 456 suppliers. We review the responses against criteria developed to determine whether further engagement
with our suppliers is required. These criteria included untimely or incomplete responses as well as inconsistencies within the data reported
in the template. We, through the assistance of Assent, have worked with these suppliers to provide revised responses. All final CMRT
submissions were reviewed and validated to ensure no inaccuracies or gaps in data were found. At the end of our campaigning, 6 suppliers
were unable to correct their CMRT and as such, are still listed as invalid submissions.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"><b>Smelters or Refiners</b></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">The information that we received from a majority of our Applicable Suppliers was at their company-wide
level. Thus, the smelters or refiners identified by our Applicable Suppliers contained in the tables below may contain smelters or refiners
that processed conflict minerals that our Applicable Suppliers supplied to their other customers, but not to us. As a result, we are
unable to conclusively determine whether the smelters or refiners included in the tables below were used to process the conflict minerals
necessary to the functionality or production of our products during 2020. Because of this uncertainty, we are also unable to conclusively
determine whether each of the countries of origin listed above were the country of origin of conflict minerals in our products during
2020, and therefore also unable to conclusively determine the source and chain of custody of those conflict minerals. In addition, the
information that we receive from our Applicable Suppliers may yield inaccurate or incomplete information because they may not have received
accurate and complete conflict minerals information from all the suppliers in their own supply chain. As we are not a member of the RMI,
we also do not have access to audit reports or detailed findings of the third-party audits conducted as part of the RMI&rsquo;s RMAP
or the LBMA Responsible Gold Program and, as a result, are not responsible for the quality of these audits or the audit findings.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">Our third-party service provider compared the facilities listed in the responses in the CMRT
to the list of smelters maintained by the RMI and confirmed that the name was listed by RMI as a legitimate smelter. As of May 21, 2021,
we have validated in this manner that 333 smelters or refiners provided in our supplier CMRTs are included on these lists. The facilities
determined to be legitimate smelters or refiners based on this comparison to the RMI-maintained list have also been compared to the RMI&rsquo;s
RMAP list. Based on this comparison, we are aware of 237 compliant smelters or refiners, 24 smelters or refiners that have begun the
process and are deemed as active in the RMAP but have not yet been validated as Conflict-Free and 64 smelters or refiners that are not
enrolled in the process to become compliant to the RMAP. Confirmed smelter or refiner sourcing is not generally available through public
information sources related to the smelter or refiner, however Attachment A does include an aggregate country list of known smelter or
refiner sourcing countries. Despite the additional smelter information obtained from these suppliers, in most cases information has been
provided on a company or division level, rather than on a component level. Therefore, we cannot yet ascertain whether the smelters identified
by our suppliers are related to any parts or components provided to us by the suppliers. Attachment A lists the smelters and refiners
that the suppliers we surveyed reported as being in their supply chains. We have not included in Attachment A any smelters or refiners
that we have not been able to validate.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"><b>Efforts to determine mine or location of origin</b></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">As noted above, the current efforts focus on gathering smelter information via the CMRT reporting
template and, as the program progresses, requiring full completion of all necessary smelter identification information which will enable
the validation and disclosure of the smelters as well as the tracing of the Conflict Minerals to their location of origin. Seeking information
about Conflict Minerals smelters and refiners in our supply chain represents the most reasonable effort we can make to determine the
mines or locations of origin of the Conflict Minerals in our supply chain.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"><b><u>6. Steps to improve future due diligence and to mitigate risk</u></b></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">We intend to take the following steps to improve the due diligence conducted to further mitigate
any risk that the necessary Conflict Minerals in our products could benefit armed groups in the DRC or adjoining countries:</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">&bull; Continue to engage with suppliers and direct them to training resources to attempt to
increase the response rate and improve the content of the supplier survey responses.</p>

<p style="margin: 0pt 0; font-size: 10pt">&bull; Suppliers will continue to be requested to inform Harvard Bioscience of the correlation
between these smelters and the products and parts they supply to Harvard Bioscience</p>

<p style="margin: 0pt 0; font-size: 10pt">&bull; Continue to engage any of our suppliers found to be supplying us with Conflict Minerals
from sources that support conflict in the DRC or any adjoining country to establish an alternative source of Conflict Minerals that does
not support such conflict.</p>

<p style="margin: 0pt 0; font-size: 10pt">&bull; Continue to evaluate upstream sources through a broader set of tools to evaluate risk
that includes using a comprehensive smelter and refiner library with detailed status and notes for each listing, scanning for credible
media on each smelter and refiner to flag risk issues, and comparing the list of smelters and refiners against government watch and denied
parties lists.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center"></p>

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<p style="margin: 0pt 0; font-size: 10pt; text-align: center"><b>APPENDIX A</b></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"><b>Smelter Table</b></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
  <tr style="background-color: #DC2B2A">
    <td style="border-right: #DCDDDE 1pt solid; white-space: nowrap; width: 10%"><font style="font-size: 12pt; color: White"><b>Metal</b></font></td>
    <td style="border-right: #DCDDDE 1pt solid; width: 53%; text-align: center"><font style="font-size: 12pt; color: White"><b>Standard
    Smelter Name</b></font></td>
    <td style="border-right: #DCDDDE 1pt solid; white-space: nowrap; width: 23%"><font style="font-size: 12pt; color: White"><b>Location</b></font></td>
    <td style="border-right: #DCDDDE 1pt solid; white-space: nowrap; width: 14%; text-align: center"><font style="font-size: 12pt; color: White"><b>Smelter
    ID</b></font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="border-top: #05A1BA 1pt solid; white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td style="border-top: #05A1BA 1pt solid"><font style="font-size: 10pt">8853 S.p.A.</font></td>
    <td style="border-top: #05A1BA 1pt solid; white-space: nowrap"><font style="font-size: 10pt">ITALY</font></td>
    <td style="border-top: #05A1BA 1pt solid; white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002763</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Abington Reldan Metals, LLC</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">U.S.A.</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002708</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Advanced Chemical Company</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">U.S.A.</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000015</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">African Gold Refinery</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">UGANDA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID003185</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Aida Chemical Industries Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">JAPAN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000019</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Al Etihad Gold Refinery DMCC</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">UNITED ARAB EMIRATES</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002560</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Alexy Metals</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">U.S.A.</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID003500</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Allgemeine Gold-und Silberscheideanstalt A.G.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">GERMANY</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000035</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Almalyk Mining and Metallurgical Complex (AMMC)</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">UZBEKISTAN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000041</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">AngloGold Ashanti Corrego do Sitio Mineracao</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">BRAZIL</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000058</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Argor-Heraeus S.A.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">SWITZERLAND</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000077</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Asahi Pretec Corp.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">JAPAN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000082</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Asahi Refining Canada Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CANADA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000924</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Asahi Refining USA Inc.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">U.S.A.</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000920</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Asaka Riken Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">JAPAN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000090</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Atasay Kuyumculuk Sanayi Ve Ticaret A.S.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">TURKEY</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000103</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">AU Traders and Refiners</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">SOUTH AFRICA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002850</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Augmont Enterprises Private Limited</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">INDIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID003461</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Aurubis AG</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">GERMANY</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000113</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Bangalore Refinery</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">INDIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002863</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Bangko Sentral ng Pilipinas (Central Bank of the Philippines)</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">PHILIPPINES</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000128</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Boliden AB</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">SWEDEN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000157</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">C. Hafner GmbH + Co. KG</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">GERMANY</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000176</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">C.I Metales Procesados Industriales SAS</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">COLOMBIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID003421</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Caridad</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">MEXICO</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000180</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">CCR Refinery - Glencore Canada Corporation</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CANADA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000185</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Cendres + Metaux S.A.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">SWITZERLAND</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000189</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">CGR Metalloys Pvt Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">INDIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID003382</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Chimet S.p.A.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">ITALY</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000233</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Chugai Mining</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">JAPAN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000264</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Daye Non-Ferrous Metals Mining Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000343</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Degussa Sonne / Mond Goldhandel GmbH</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">GERMANY</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002867</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Dijllah Gold Refinery FZC</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">UNITED ARAB EMIRATES</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID003348</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">DODUCO Contacts and Refining GmbH</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">GERMANY</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000362</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Dowa</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">JAPAN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000401</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">DS PRETECH Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">KOREA, REPUBLIC OF</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID003195</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">DSC (Do Sung Corporation)</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">KOREA, REPUBLIC OF</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000359</font></td></tr>
</table>

<p style="margin: 0">&nbsp;</p>

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<p style="margin: 0"></p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt; width: 10%"><font style="font-size: 10pt">Gold</font></td>
    <td style="width: 53%"><font style="font-size: 10pt">Eco-System Recycling Co., Ltd. East Plant</font></td>
    <td style="white-space: nowrap; width: 23%"><font style="font-size: 10pt">JAPAN</font></td>
    <td style="white-space: nowrap; text-align: center; width: 14%"><font style="font-size: 10pt">CID000425</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Eco-System Recycling Co., Ltd. North Plant</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">JAPAN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID003424</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Eco-System Recycling Co., Ltd. West Plant</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">JAPAN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID003425</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Emerald Jewel Industry India Limited (Unit 1)</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">INDIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID003487</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Emerald Jewel Industry India Limited (Unit 2)</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">INDIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID003488</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Emerald Jewel Industry India Limited (Unit 3)</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">INDIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID003489</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Emerald Jewel Industry India Limited (Unit 4)</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">INDIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID003490</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Emirates Gold DMCC</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">UNITED ARAB EMIRATES</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002561</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Fidelity Printers and Refiners Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">ZIMBABWE</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002515</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Fujairah Gold FZC</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">UNITED ARAB EMIRATES</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002584</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">GCC Gujrat Gold Centre Pvt. Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">INDIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002852</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Geib Refining Corporation</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">U.S.A.</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002459</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Gold Coast Refinery</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">GHANA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID003186</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Gold Refinery of Zijin Mining Group Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002243</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Great Wall Precious Metals Co., Ltd. of CBPM</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001909</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Guangdong Jinding Gold Limited</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002312</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Guoda Safina High-Tech Environmental Refinery Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000651</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Hangzhou Fuchunjiang Smelting Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000671</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Heimerle + Meule GmbH</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">GERMANY</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000694</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Heraeus Metals Hong Kong Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000707</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Heraeus Precious Metals GmbH &amp; Co. KG</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">GERMANY</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000711</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Hunan Chenzhou Mining Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000767</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Hunan Guiyang yinxing Nonferrous Smelting Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000773</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">HwaSeong CJ CO., LTD.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">KOREA, REPUBLIC OF</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000778</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Inner Mongolia Qiankun Gold and Silver Refinery Share Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000801</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">International Precious Metal Refiners</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">UNITED ARAB EMIRATES</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002562</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Ishifuku Metal Industry Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">JAPAN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000807</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Istanbul Gold Refinery</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">TURKEY</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000814</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Italpreziosi</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">ITALY</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002765</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">JALAN &amp; Company</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">INDIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002893</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Japan Mint</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">JAPAN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000823</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Jiangxi Copper Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000855</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">JSC Ekaterinburg Non-Ferrous Metal Processing Plant</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">RUSSIAN FEDERATION</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000927</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">JSC Uralelectromed</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">RUSSIAN FEDERATION</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000929</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">JX Nippon Mining &amp; Metals Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">JAPAN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000937</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">K.A. Rasmussen</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">NORWAY</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID003497</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Kaloti Precious Metals</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">UNITED ARAB EMIRATES</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002563</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Kazakhmys Smelting LLC</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">KAZAKHSTAN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000956</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Kazzinc</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">KAZAKHSTAN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000957</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Kennecott Utah Copper LLC</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">U.S.A.</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000969</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">KGHM Polska Miedz Spolka Akcyjna</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">POLAND</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002511</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Kojima Chemicals Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">JAPAN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000981</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Korea Zinc Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">KOREA, REPUBLIC OF</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002605</font></td></tr>
</table>

<p style="margin: 0">&nbsp;</p>

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<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt; width: 10%"><font style="font-size: 10pt">Gold</font></td>
    <td style="width: 53%"><font style="font-size: 10pt">Kundan Care Products Ltd.</font></td>
    <td style="white-space: nowrap; width: 23%"><font style="font-size: 10pt">INDIA</font></td>
    <td style="white-space: nowrap; text-align: center; width: 14%"><font style="font-size: 10pt">CID003463</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Kyrgyzaltyn JSC</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">KYRGYZSTAN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001029</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Kyshtym Copper-Electrolytic Plant ZAO</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">RUSSIAN FEDERATION</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002865</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">L'azurde Company For Jewelry</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">SAUDI ARABIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001032</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Lingbao Gold Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001056</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Lingbao Jinyuan Tonghui Refinery Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001058</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">L'Orfebre S.A.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">ANDORRA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002762</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">LS-NIKKO Copper Inc.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">KOREA, REPUBLIC OF</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001078</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">LT Metal Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">KOREA, REPUBLIC OF</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000689</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Luoyang Zijin Yinhui Gold Refinery Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001093</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Marsam Metals</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">BRAZIL</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002606</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Materion</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">U.S.A.</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001113</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Matsuda Sangyo Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">JAPAN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001119</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">MD Overseas</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">INDIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID003548</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Metal Concentrators SA (Pty) Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">SOUTH AFRICA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID003575</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Metallix Refining Inc.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">U.S.A.</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID003557</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Metalor Technologies (Hong Kong) Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001149</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Metalor Technologies (Singapore) Pte., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">SINGAPORE</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001152</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Metalor Technologies (Suzhou) Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001147</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Metalor Technologies S.A.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">SWITZERLAND</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001153</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Metalor USA Refining Corporation</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">U.S.A.</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001157</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Metalurgica Met-Mex Penoles S.A. De C.V.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">MEXICO</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001161</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Mitsubishi Materials Corporation</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">JAPAN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001188</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Mitsui Mining and Smelting Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">JAPAN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001193</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">MMTC-PAMP India Pvt., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">INDIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002509</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Modeltech Sdn Bhd</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">MALAYSIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002857</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Morris and Watson</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">NEW ZEALAND</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002282</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Moscow Special Alloys Processing Plant</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">RUSSIAN FEDERATION</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001204</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Nadir Metal Rafineri San. Ve Tic. A.S.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">TURKEY</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001220</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Navoi Mining and Metallurgical Combinat</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">UZBEKISTAN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001236</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">NH Recytech Company</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">KOREA, REPUBLIC OF</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID003189</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Nihon Material Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">JAPAN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001259</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Ogussa Osterreichische Gold- und Silber-Scheideanstalt GmbH</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">AUSTRIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002779</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Ohura Precious Metal Industry Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">JAPAN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001325</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">OJSC &quot;The Gulidov Krasnoyarsk Non-Ferrous Metals Plant&quot; (OJSC
    Krastsvetmet)</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">RUSSIAN FEDERATION</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001326</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">OJSC Novosibirsk Refinery</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">RUSSIAN FEDERATION</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000493</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">PAMP S.A.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">SWITZERLAND</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001352</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Pease &amp; Curren</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">U.S.A.</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002872</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Penglai Penggang Gold Industry Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001362</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Planta Recuperadora de Metales SpA</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHILE</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002919</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Prioksky Plant of Non-Ferrous Metals</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">RUSSIAN FEDERATION</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001386</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">PT Aneka Tambang (Persero) Tbk</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">INDONESIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001397</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">PX Precinox S.A.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">SWITZERLAND</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001498</font></td></tr>
</table>

<p style="margin: 0">&nbsp;</p>

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<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt; width: 10%"><font style="font-size: 10pt">Gold</font></td>
    <td style="width: 53%"><font style="font-size: 10pt">QG Refining, LLC</font></td>
    <td style="white-space: nowrap; width: 23%"><font style="font-size: 10pt">U.S.A.</font></td>
    <td style="white-space: nowrap; text-align: center; width: 14%"><font style="font-size: 10pt">CID003324</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Rand Refinery (Pty) Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">SOUTH AFRICA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001512</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Refinery of Seemine Gold Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000522</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">REMONDIS PMR B.V.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">NETHERLANDS</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002582</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Royal Canadian Mint</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CANADA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001534</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">SAAMP</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">FRANCE</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002761</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Sabin Metal Corp.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">U.S.A.</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001546</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Safimet S.p.A</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">ITALY</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002973</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">SAFINA A.S.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CZECH REPUBLIC</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002290</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Sai Refinery</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">INDIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002853</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Samduck Precious Metals</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">KOREA, REPUBLIC OF</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001555</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Samwon Metals Corp.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">KOREA, REPUBLIC OF</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001562</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Sancus ZFS (L&rsquo;Orfebre, SA)</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">COLOMBIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID003529</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">SAXONIA Edelmetalle GmbH</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">GERMANY</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002777</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Sellem Industries Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">MAURITANIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID003540</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">SEMPSA Joyeria Plateria S.A.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">SPAIN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001585</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Shandong Humon Smelting Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002525</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Shandong Tiancheng Biological Gold Industrial Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001619</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Shandong Zhaojin Gold &amp; Silver Refinery Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001622</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Shenzhen Zhonghenglong Real Industry Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002527</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Shirpur Gold Refinery Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">INDIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002588</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Sichuan Tianze Precious Metals Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001736</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Singway Technology Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">TAIWAN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002516</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">SOE Shyolkovsky Factory of Secondary Precious Metals</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">RUSSIAN FEDERATION</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001756</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Solar Applied Materials Technology Corp.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">TAIWAN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001761</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Sovereign Metals</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">INDIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID003383</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">State Research Institute Center for Physical Sciences and Technology</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">LITHUANIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID003153</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Sudan Gold Refinery</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">SUDAN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002567</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Sumitomo Metal Mining Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">JAPAN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001798</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">SungEel HiMetal Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">KOREA, REPUBLIC OF</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002918</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Super Dragon Technology Co., Ltd</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">TAIWAN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001810</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">T.C.A S.p.A</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">ITALY</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002580</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Tanaka Kikinzoku Kogyo K.K.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">JAPAN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001875</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">The Refinery of Shandong Gold Mining Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001916</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Tokuriki Honten Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">JAPAN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001938</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Tongling Nonferrous Metals Group Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001947</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Tony Goetz NV</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">BELGIUM</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002587</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">TOO Tau-Ken-Altyn</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">KAZAKHSTAN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002615</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Torecom</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">KOREA, REPUBLIC OF</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001955</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Umicore Precious Metals Thailand</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">THAILAND</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002314</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Umicore S.A. Business Unit Precious Metals Refining</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">BELGIUM</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001980</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">United Precious Metal Refining, Inc.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">U.S.A.</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001993</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Valcambi S.A.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">SWITZERLAND</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002003</font></td></tr>
</table>

<p style="margin: 0">&nbsp;</p>

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  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt; width: 10%"><font style="font-size: 10pt">Gold</font></td>
    <td style="width: 53%"><font style="font-size: 10pt">Western Australian Mint (T/a The Perth Mint)</font></td>
    <td style="white-space: nowrap; width: 23%"><font style="font-size: 10pt">AUSTRALIA</font></td>
    <td style="white-space: nowrap; text-align: center; width: 14%"><font style="font-size: 10pt">CID002030</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">WIELAND Edelmetalle GmbH</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">GERMANY</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002778</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Yamakin Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">JAPAN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002100</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Yokohama Metal Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">JAPAN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002129</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Yunnan Copper Industry Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000197</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Gold</font></td>
    <td><font style="font-size: 10pt">Zhongyuan Gold Smelter of Zhongjin Gold Corporation</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002224</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tantalum</font></td>
    <td><font style="font-size: 10pt">Asaka Riken Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">JAPAN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000092</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tantalum</font></td>
    <td><font style="font-size: 10pt">Changsha South Tantalum Niobium Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000211</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tantalum</font></td>
    <td><font style="font-size: 10pt">D Block Metals, LLC</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">U.S.A.</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002504</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tantalum</font></td>
    <td><font style="font-size: 10pt">Exotech Inc.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">U.S.A.</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000456</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tantalum</font></td>
    <td><font style="font-size: 10pt">F&amp;X Electro-Materials Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000460</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tantalum</font></td>
    <td><font style="font-size: 10pt">FIR Metals &amp; Resource Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002505</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tantalum</font></td>
    <td><font style="font-size: 10pt">Global Advanced Metals Aizu</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">JAPAN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002558</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tantalum</font></td>
    <td><font style="font-size: 10pt">Global Advanced Metals Boyertown</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">U.S.A.</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002557</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tantalum</font></td>
    <td><font style="font-size: 10pt">Guangdong Zhiyuan New Material Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000616</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tantalum</font></td>
    <td><font style="font-size: 10pt">H.C. Starck Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">THAILAND</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002544</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tantalum</font></td>
    <td><font style="font-size: 10pt">H.C. Starck Hermsdorf GmbH</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">GERMANY</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002547</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tantalum</font></td>
    <td><font style="font-size: 10pt">H.C. Starck Inc.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">U.S.A.</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002548</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tantalum</font></td>
    <td><font style="font-size: 10pt">H.C. Starck Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">JAPAN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002549</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tantalum</font></td>
    <td><font style="font-size: 10pt">H.C. Starck Smelting GmbH &amp; Co. KG</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">GERMANY</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002550</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tantalum</font></td>
    <td><font style="font-size: 10pt">H.C. Starck Tantalum and Niobium GmbH</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">GERMANY</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002545</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tantalum</font></td>
    <td><font style="font-size: 10pt">Hengyang King Xing Lifeng New Materials Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002492</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tantalum</font></td>
    <td><font style="font-size: 10pt">Jiangxi Dinghai Tantalum &amp; Niobium Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002512</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tantalum</font></td>
    <td><font style="font-size: 10pt">Jiangxi Tuohong New Raw Material</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002842</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tantalum</font></td>
    <td><font style="font-size: 10pt">JiuJiang JinXin Nonferrous Metals Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000914</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tantalum</font></td>
    <td><font style="font-size: 10pt">Jiujiang Tanbre Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000917</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tantalum</font></td>
    <td><font style="font-size: 10pt">Jiujiang Zhongao Tantalum &amp; Niobium Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002506</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tantalum</font></td>
    <td><font style="font-size: 10pt">KEMET Blue Metals</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">MEXICO</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002539</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tantalum</font></td>
    <td><font style="font-size: 10pt">LSM Brasil S.A.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">BRAZIL</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001076</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tantalum</font></td>
    <td><font style="font-size: 10pt">Metallurgical Products India Pvt., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">INDIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001163</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tantalum</font></td>
    <td><font style="font-size: 10pt">Mineracao Taboca S.A.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">BRAZIL</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001175</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tantalum</font></td>
    <td><font style="font-size: 10pt">Mitsui Mining and Smelting Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">JAPAN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001192</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tantalum</font></td>
    <td><font style="font-size: 10pt">Ningxia Orient Tantalum Industry Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001277</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tantalum</font></td>
    <td><font style="font-size: 10pt">NPM Silmet AS</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">ESTONIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001200</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tantalum</font></td>
    <td><font style="font-size: 10pt">PRG Dooel</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">NORTH MACEDONIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002847</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tantalum</font></td>
    <td><font style="font-size: 10pt">QuantumClean</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">U.S.A.</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001508</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tantalum</font></td>
    <td><font style="font-size: 10pt">Resind Industria e Comercio Ltda.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">BRAZIL</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002707</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tantalum</font></td>
    <td><font style="font-size: 10pt">Solikamsk Magnesium Works OAO</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">RUSSIAN FEDERATION</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001769</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tantalum</font></td>
    <td><font style="font-size: 10pt">Taki Chemical Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">JAPAN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001869</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tantalum</font></td>
    <td><font style="font-size: 10pt">Telex Metals</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">U.S.A.</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001891</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tantalum</font></td>
    <td><font style="font-size: 10pt">Ulba Metallurgical Plant JSC</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">KAZAKHSTAN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001969</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tantalum</font></td>
    <td><font style="font-size: 10pt">XinXing HaoRong Electronic Material Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002508</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tantalum</font></td>
    <td><font style="font-size: 10pt">Yanling Jincheng Tantalum &amp; Niobium Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001522</font></td></tr>
</table>

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  <tr>
    <td style="white-space: nowrap; text-indent: 10pt; width: 10%"><font style="font-size: 10pt">Tin</font></td>
    <td style="width: 53%"><font style="font-size: 10pt">Alpha</font></td>
    <td style="white-space: nowrap; width: 23%"><font style="font-size: 10pt">U.S.A.</font></td>
    <td style="white-space: nowrap; text-align: center; width: 14%"><font style="font-size: 10pt">CID000292</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">An Vinh Joint Stock Mineral Processing Company</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">VIET NAM</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002703</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">Chenzhou Yunxiang Mining and Metallurgy Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000228</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">Chifeng Dajingzi Tin Industry Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID003190</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">China Tin Group Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001070</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">CRM Fundicao De Metais E Comercio De Equipamentos Eletronicos Do Brasil
    Ltda</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">BRAZIL</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID003486</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">CRM Synergies</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">SPAIN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID003524</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">CV Ayi Jaya</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">INDONESIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002570</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">CV Venus Inti Perkasa</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">INDONESIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002455</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">Dongguan CiEXPO Environmental Engineering Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID003356</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">Dowa</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">JAPAN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000402</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">Electro-Mechanical Facility of the Cao Bang Minerals &amp; Metallurgy
    Joint Stock Company</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">VIET NAM</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002572</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">EM Vinto</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">BOLIVIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000438</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">Estanho de Rondonia S.A.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">BRAZIL</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000448</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">Fenix Metals</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">POLAND</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000468</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">Gejiu City Fuxiang Industry and Trade Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID003410</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">Gejiu Fengming Metallurgy Chemical Plant</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002848</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">Gejiu Kai Meng Industry and Trade LLC</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000942</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">Gejiu Non-Ferrous Metal Processing Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000538</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">Gejiu Yunxin Nonferrous Electrolysis Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001908</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">Gejiu Zili Mining And Metallurgy Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000555</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">Guangdong Hanhe Non-Ferrous Metal Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID003116</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">HuiChang Hill Tin Industry Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002844</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">Jiangxi New Nanshan Technology Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001231</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">Luna Smelter, Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">RWANDA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID003387</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">Ma'anshan Weitai Tin Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID003379</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">Magnu's Minerais Metais e Ligas Ltda.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">BRAZIL</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002468</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">Malaysia Smelting Corporation (MSC)</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">MALAYSIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001105</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">Melt Metais e Ligas S.A.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">BRAZIL</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002500</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">Metallic Resources, Inc.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">U.S.A.</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001142</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">Metallo Belgium N.V.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">BELGIUM</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002773</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">Metallo Spain S.L.U.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">SPAIN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002774</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">Mineracao Taboca S.A.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">BRAZIL</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001173</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">Minsur</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">PERU</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001182</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">Mitsubishi Materials Corporation</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">JAPAN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001191</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">Modeltech Sdn Bhd</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">MALAYSIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002858</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">Nghe Tinh Non-Ferrous Metals Joint Stock Company</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">VIET NAM</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002573</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">Novosibirsk Processing Plant Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">RUSSIAN FEDERATION</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001305</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">O.M. Manufacturing (Thailand) Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">THAILAND</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001314</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">O.M. Manufacturing Philippines, Inc.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">PHILIPPINES</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002517</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">Operaciones Metalurgicas S.A.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">BOLIVIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001337</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">Pongpipat Company Limited</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">MYANMAR</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID003208</font></td></tr>
</table>

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    <td style="white-space: nowrap; text-indent: 10pt; width: 10%"><font style="font-size: 10pt">Tin</font></td>
    <td style="width: 53%"><font style="font-size: 10pt">Precious Minerals and Smelting Limited</font></td>
    <td style="white-space: nowrap; width: 23%"><font style="font-size: 10pt">INDIA</font></td>
    <td style="white-space: nowrap; text-align: center; width: 14%"><font style="font-size: 10pt">CID003409</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">PT Aries Kencana Sejahtera</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">INDONESIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000309</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">PT Artha Cipta Langgeng</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">INDONESIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001399</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">PT ATD Makmur Mandiri Jaya</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">INDONESIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002503</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">PT Babel Inti Perkasa</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">INDONESIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001402</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">PT Babel Surya Alam Lestari</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">INDONESIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001406</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">PT Bangka Serumpun</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">INDONESIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID003205</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">PT Bukit Timah</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">INDONESIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001428</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">PT Cipta Persada Mulia</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">INDONESIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002696</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">PT Lautan Harmonis Sejahtera</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">INDONESIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002870</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">PT Menara Cipta Mulia</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">INDONESIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002835</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">PT Mitra Stania Prima</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">INDONESIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001453</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">PT Mitra Sukses Globalindo</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">INDONESIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID003449</font></td></tr>
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    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">PT Prima Timah Utama</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">INDONESIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001458</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">PT Rajawali Rimba Perkasa</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">INDONESIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID003381</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">PT Rajehan Ariq</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">INDONESIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002593</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">PT Refined Bangka Tin</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">INDONESIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001460</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">PT Stanindo Inti Perkasa</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">INDONESIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001468</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">PT Sukses Inti Makmur</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">INDONESIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002816</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">PT Timah Nusantara</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">INDONESIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001486</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">PT Timah Tbk Kundur</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">INDONESIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001477</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">PT Timah Tbk Mentok</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">INDONESIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001482</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">PT Tinindo Inter Nusa</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">INDONESIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001490</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">Resind Industria e Comercio Ltda.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">BRAZIL</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002706</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">Rui Da Hung</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">TAIWAN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001539</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">Soft Metais Ltda.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">BRAZIL</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001758</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">Super Ligas</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">BRAZIL</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002756</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">Thai Nguyen Mining and Metallurgy Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">VIET NAM</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002834</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">Thaisarco</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">THAILAND</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID001898</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">Tin Technology &amp; Refining</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">U.S.A.</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID003325</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">Tuyen Quang Non-Ferrous Metals Joint Stock Company</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">VIET NAM</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002574</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">VQB Mineral and Trading Group JSC</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">VIET NAM</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002015</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">White Solder Metalurgia e Mineracao Ltda.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">BRAZIL</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002036</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">Yunnan Chengfeng Non-ferrous Metals Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002158</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">Yunnan Tin Company Limited</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002180</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tin</font></td>
    <td><font style="font-size: 10pt">Yunnan Yunfan Non-ferrous Metals Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID003397</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tungsten</font></td>
    <td><font style="font-size: 10pt">A.L.M.T. Corp.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">JAPAN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000004</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tungsten</font></td>
    <td><font style="font-size: 10pt">ACL Metais Eireli</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">BRAZIL</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002833</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tungsten</font></td>
    <td><font style="font-size: 10pt">Albasteel Industria e Comercio de Ligas Para Fundicao Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">BRAZIL</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID003427</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tungsten</font></td>
    <td><font style="font-size: 10pt">Artek LLC</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">RUSSIAN FEDERATION</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID003553</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tungsten</font></td>
    <td><font style="font-size: 10pt">Asia Tungsten Products Vietnam Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">VIET NAM</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002502</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tungsten</font></td>
    <td><font style="font-size: 10pt">Chenzhou Diamond Tungsten Products Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002513</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tungsten</font></td>
    <td><font style="font-size: 10pt">China Molybdenum Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002641</font></td></tr>
</table>

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    <td style="white-space: nowrap; text-indent: 10pt; width: 10%"><font style="font-size: 10pt">Tungsten</font></td>
    <td style="width: 53%"><font style="font-size: 10pt">Chongyi Zhangyuan Tungsten Co., Ltd.</font></td>
    <td style="white-space: nowrap; width: 23%"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center; width: 14%"><font style="font-size: 10pt">CID000258</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tungsten</font></td>
    <td><font style="font-size: 10pt">CNMC (Guangxi) PGMA Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000281</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tungsten</font></td>
    <td><font style="font-size: 10pt">Cronimet Brasil Ltda</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">BRAZIL</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID003468</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tungsten</font></td>
    <td><font style="font-size: 10pt">Fujian Ganmin RareMetal Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID003401</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tungsten</font></td>
    <td><font style="font-size: 10pt">Ganzhou Haichuang Tungsten Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002645</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tungsten</font></td>
    <td><font style="font-size: 10pt">Ganzhou Huaxing Tungsten Products Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000875</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tungsten</font></td>
    <td><font style="font-size: 10pt">Ganzhou Jiangwu Ferrotungsten Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002315</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tungsten</font></td>
    <td><font style="font-size: 10pt">Ganzhou Seadragon W &amp; Mo Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002494</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tungsten</font></td>
    <td><font style="font-size: 10pt">GEM Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID003417</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tungsten</font></td>
    <td><font style="font-size: 10pt">Global Tungsten &amp; Powders Corp.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">U.S.A.</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000568</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tungsten</font></td>
    <td><font style="font-size: 10pt">Guangdong Xianglu Tungsten Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000218</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tungsten</font></td>
    <td><font style="font-size: 10pt">H.C. Starck Smelting GmbH &amp; Co. KG</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">GERMANY</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002542</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tungsten</font></td>
    <td><font style="font-size: 10pt">H.C. Starck Tungsten GmbH</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">GERMANY</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002541</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tungsten</font></td>
    <td><font style="font-size: 10pt">Hunan Chenzhou Mining Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000766</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tungsten</font></td>
    <td><font style="font-size: 10pt">Hunan Chunchang Nonferrous Metals Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000769</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tungsten</font></td>
    <td><font style="font-size: 10pt">Hydrometallurg, JSC</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">RUSSIAN FEDERATION</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002649</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tungsten</font></td>
    <td><font style="font-size: 10pt">Japan New Metals Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">JAPAN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000825</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tungsten</font></td>
    <td><font style="font-size: 10pt">Jiangwu H.C. Starck Tungsten Products Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002551</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tungsten</font></td>
    <td><font style="font-size: 10pt">Jiangxi Gan Bei Tungsten Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002321</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tungsten</font></td>
    <td><font style="font-size: 10pt">Jiangxi Minmetals Gao'an Non-ferrous Metals Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002313</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tungsten</font></td>
    <td><font style="font-size: 10pt">Jiangxi Tonggu Non-ferrous Metallurgical &amp; Chemical Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002318</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tungsten</font></td>
    <td><font style="font-size: 10pt">Jiangxi Xinsheng Tungsten Industry Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002317</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tungsten</font></td>
    <td><font style="font-size: 10pt">Jiangxi Yaosheng Tungsten Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002316</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tungsten</font></td>
    <td><font style="font-size: 10pt">JSC &quot;Kirovgrad Hard Alloys Plant&quot;</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">RUSSIAN FEDERATION</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID003408</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tungsten</font></td>
    <td><font style="font-size: 10pt">Kennametal Fallon</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">U.S.A.</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000966</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tungsten</font></td>
    <td><font style="font-size: 10pt">Kennametal Huntsville</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">U.S.A.</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID000105</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tungsten</font></td>
    <td><font style="font-size: 10pt">KGETS Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">KOREA, REPUBLIC OF</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID003388</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tungsten</font></td>
    <td><font style="font-size: 10pt">Lianyou Metals Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">TAIWAN</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID003407</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tungsten</font></td>
    <td><font style="font-size: 10pt">Malipo Haiyu Tungsten Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002319</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tungsten</font></td>
    <td><font style="font-size: 10pt">Masan Tungsten Chemical LLC (MTC)</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">VIET NAM</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002543</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tungsten</font></td>
    <td><font style="font-size: 10pt">Moliren Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">RUSSIAN FEDERATION</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002845</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tungsten</font></td>
    <td><font style="font-size: 10pt">Niagara Refining LLC</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">U.S.A.</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002589</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tungsten</font></td>
    <td><font style="font-size: 10pt">NPP Tyazhmetprom LLC</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">RUSSIAN FEDERATION</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID003416</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tungsten</font></td>
    <td><font style="font-size: 10pt">Philippine Chuangxin Industrial Co., Inc.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">PHILIPPINES</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002827</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tungsten</font></td>
    <td><font style="font-size: 10pt">Unecha Refractory metals plant</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">RUSSIAN FEDERATION</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002724</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tungsten</font></td>
    <td><font style="font-size: 10pt">Wolfram Bergbau und Hutten AG</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">AUSTRIA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002044</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tungsten</font></td>
    <td><font style="font-size: 10pt">Xiamen Tungsten (H.C.) Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002320</font></td></tr>
  <tr>
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tungsten</font></td>
    <td><font style="font-size: 10pt">Xiamen Tungsten Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002082</font></td></tr>
  <tr style="background-color: #C1F4FD">
    <td style="white-space: nowrap; text-indent: 10pt"><font style="font-size: 10pt">Tungsten</font></td>
    <td><font style="font-size: 10pt">Xinfeng Huarui Tungsten &amp; Molybdenum New Material Co., Ltd.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">CHINA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">CID002830</font></td></tr>
  </table>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 10pt"></p>

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<p style="margin: 0pt 0; font-size: 10pt"><b>Country of Origin List</b>:</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">This list below sets out possible countries of origin of 3TGs used in the manufacture of products
containing conflict minerals that are necessary to the functionality or production of our products. The list is based on publicly available
information, our reasonable country of origin <font style="font-size: 10pt">investigation, and other due diligence. For the reasons described
in the Report, however, these possible countries of origin cannot necessarily be linked to our products:</font></p>

<p style="margin: 0pt 0; font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
  <tr style="vertical-align: middle; background-color: red">
    <td colspan="3" style="color: white; font-size: 12pt; font-weight: bold; border-right: #E7E6E6 1pt solid; border-bottom: Black 0.5pt solid; text-align: center">Country of Origin List</td></tr>
  <tr style="vertical-align: bottom; background-color: #DDEBF7">
    <td style="width: 34%">Afghanistan</td>
    <td style="width: 33%">Guyana</td>
    <td style="width: 33%">Peru</td></tr>
  <tr style="vertical-align: bottom; background-color: white">
    <td>Armenia</td>
    <td>Hungary</td>
    <td>Philippines</td></tr>
  <tr style="vertical-align: bottom; background-color: #DDEBF7">
    <td>Australia</td>
    <td>India</td>
    <td>Poland</td></tr>
  <tr style="vertical-align: bottom; background-color: white">
    <td>Austria</td>
    <td>Indonesia</td>
    <td>Portugal</td></tr>
  <tr style="vertical-align: bottom; background-color: #DDEBF7">
    <td>Belarus</td>
    <td>Ireland</td>
    <td>Republic Of Korea</td></tr>
  <tr style="vertical-align: bottom; background-color: white">
    <td>Belgium</td>
    <td>Israel</td>
    <td>Russia</td></tr>
  <tr style="vertical-align: bottom; background-color: #DDEBF7">
    <td>Bermuda</td>
    <td>Italy</td>
    <td>Rwanda</td></tr>
  <tr style="vertical-align: bottom; background-color: white">
    <td>Bolivia</td>
    <td>Ivory Coast</td>
    <td>Saudi Arabia</td></tr>
  <tr style="vertical-align: bottom; background-color: #DDEBF7">
    <td>Brazil</td>
    <td>Japan</td>
    <td>Sierra Leone</td></tr>
  <tr style="vertical-align: bottom; background-color: white">
    <td>Bulgaria</td>
    <td>Kazakhstan</td>
    <td>Singapore</td></tr>
  <tr style="vertical-align: bottom; background-color: #DDEBF7">
    <td>Burundi</td>
    <td>Kenya</td>
    <td>Slovakia</td></tr>
  <tr style="vertical-align: bottom; background-color: white">
    <td>Cambodia</td>
    <td>Kyrgyzstan</td>
    <td>Slovenia</td></tr>
  <tr style="vertical-align: bottom; background-color: #DDEBF7">
    <td>Canada</td>
    <td>Laos</td>
    <td>South Africa</td></tr>
  <tr style="vertical-align: bottom; background-color: white">
    <td>Central African Republic</td>
    <td>Liberia</td>
    <td>Spain</td></tr>
  <tr style="vertical-align: bottom; background-color: #DDEBF7">
    <td>Chile</td>
    <td>Lithuania</td>
    <td>Sudan</td></tr>
  <tr style="vertical-align: bottom; background-color: white">
    <td>China</td>
    <td>Luxembourg</td>
    <td>Suriname</td></tr>
  <tr style="vertical-align: bottom; background-color: #DDEBF7">
    <td>Colombia</td>
    <td>Madagascar</td>
    <td>Sweden</td></tr>
  <tr style="vertical-align: bottom; background-color: white">
    <td>Czech Republic</td>
    <td>Malaysia</td>
    <td>Switzerland</td></tr>
  <tr style="vertical-align: bottom; background-color: #DDEBF7">
    <td>Djibouti</td>
    <td>Mali</td>
    <td>Tanzania</td></tr>
  <tr style="vertical-align: bottom; background-color: white">
    <td>Dominican Republic</td>
    <td>Mauritania</td>
    <td>Thailand</td></tr>
  <tr style="vertical-align: bottom; background-color: #DDEBF7">
    <td>DRC or an adjoining country (1)</td>
    <td>Mexico</td>
    <td>Turkey</td></tr>
  <tr style="vertical-align: bottom; background-color: white">
    <td>Ecuador</td>
    <td>Mongolia</td>
    <td>Uganda</td></tr>
  <tr style="vertical-align: bottom; background-color: #DDEBF7">
    <td>Egypt</td>
    <td>Morocco</td>
    <td>United Arab Emirates</td></tr>
  <tr style="vertical-align: bottom; background-color: white">
    <td>England</td>
    <td>Mozambique</td>
    <td>United Kingdom</td></tr>
  <tr style="vertical-align: bottom; background-color: #DDEBF7">
    <td>Estonia</td>
    <td>Myanmar</td>
    <td>USA</td></tr>
  <tr style="vertical-align: bottom; background-color: white">
    <td>Ethiopia</td>
    <td>Namibia</td>
    <td>Uzbekistan</td></tr>
  <tr style="vertical-align: bottom; background-color: #DDEBF7">
    <td>Finland</td>
    <td>Netherlands</td>
    <td>Vietnam</td></tr>
  <tr style="vertical-align: bottom; background-color: white">
    <td>France</td>
    <td>New Zealand</td>
    <td>Zambia</td></tr>
  <tr style="vertical-align: bottom; background-color: #DDEBF7">
    <td>Germany</td>
    <td>Niger</td>
    <td>Zimbabwe</td></tr>
  <tr style="vertical-align: bottom; background-color: white">
    <td>Ghana</td>
    <td>Nigeria</td>
    <td>&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: #DDEBF7">
    <td>Guinea</td>
    <td>Papua New Guinea</td>
    <td>&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: white">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: #DDEBF7">
    <td>(1) the &quot;Covered Countries&quot;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
  </table>

<p style="margin: 0pt 0; font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></p>

<p style="margin: 0pt 0; font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></p>


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