UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM SD

Specialized Disclosure Report

Astec Industries, Inc.
(Exact name of registrant as specified in its charter)

Tennessee001-11595
(State or other jurisdiction
of incorporation)
(Commission File Number)

1725 Shepherd Road
Chattanooga, Tennessee
37421
(Address of principal executive offices)(Zip Code)

Edward T. Gilbert Jr.(423) 899-5898
(Name and telephone number, including area code, of the person to contact in connection with this report.)

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:

Rule 13p-1 under the Securities Exchange Act (17 CFR 240.13p-1) for the reporting period from January 1 to December 31, 2023.
Rule 13q-1 under the Securities Exchange Act (17 CFR 240.13p-1) for the reporting period from January 1 to December 31, 2023.



Section 1 – Conflict Minerals Disclosure

Item 1.01 Conflict Minerals Disclosure and Report

In accordance with the disclosure requirements promulgated by the U.S. Securities and Exchange Commission, Astec Industries, Inc. (the "Company") has undertaken efforts to determine its conflict minerals1 reporting requirements for the period from January 1 to December 31, 2023.

The Company has filed this Specialized Disclosure Report and the associated Conflict Minerals Report, which appears as Exhibit 1.01 hereto and is publicly available on the Company’s website at https://www.astecindustries.com/esg/more/conflict-materials.
_________________________
1 The term "conflict mineral" is defined in Section 1502(e)(4) of the Dodd-Frank Wall Street Reform and Consumer Protection Act as (A) columbite-tantalite, also known as coltan (the metal ore from which tantalum is extracted); cassiterite (the metal ore from which tin is extracted); gold; wolframite (the metal ore from which tungsten is extracted); or their derivatives; or (B) any other mineral or its derivatives determined by the Secretary of State to be financing conflict in the Democratic Republic of the Congo ("DRC") or an adjoining country.

Item 1.02 Exhibit

The Company's Conflict Minerals Report is provided as Exhibit 1.01 hereto.

Section 2 – Resource Extraction Issuer Disclosure

Item 2.01 Resource Extraction Issuer Disclosure and Report

Not applicable.

Section 3 – Exhibits

Item 3.01 Exhibits

The following exhibit is filed as part of this report:

Exhibit 1.01 – Astec Industries, Inc.'s Conflict Minerals Report for the period January 1 to December 31, 2023.

*****

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Astec Industries, Inc.
By:/s/ Edward T. Gilbert Jr.
Date: May 23, 2024
Edward T. Gilbert Jr.
General Counsel & Corporate Secretary

Exhibit 1.01
CONFLICT MINERALS REPORT OF
ASTEC INDUSTRIES, INC.
FOR THE REPORTING PERIOD FROM
JANUARY 1 TO DECEMBER 31, 2023

I.    Introduction

This is the Conflict Minerals1 Report of Astec Industries, Inc. ("we," "our," "us," or the "Company") prepared for calendar year 2023 in accordance with Rule 13p-1 ("Rule 13p-1") under the Securities Exchange Act of 1934 (the "Act"). Numerous terms in this Report are defined in Rule 13p-1 and SEC Release No. 34-67716 (August 22, 2012) under the Act (the "Adopting Release"). The reader is referred to these sources for the definitions of defined terms contained but not defined herein.

In accordance with Rule 13p-1, we undertook efforts to determine the presence and source of the conflict minerals that are necessary to the functionality or production of the products that we manufacture or contract to manufacture. The Company designed its efforts in conformity with the internationally recognized due diligence framework set forth in the Organisation for Economic Co-operation and Development ("OECD") Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas2 ("OECD Due Diligence Guidance") and related supplements.

The statements below are based on the activities performed to date in good faith by the Company and are based on the infrastructure and information available at the time of this filing. Factors that could affect the accuracy of these statements include, but are not limited to, incomplete supplier data or available smelter data, errors or omissions by suppliers or smelters, evolving identification of smelters, incomplete information from industry or other third-party sources, continuing guidance regarding the SEC final rules, and other issues.
_________________________
1The term "conflict mineral" is defined in Section 1502(e)(4) of the Dodd-Frank Wall Street Reform and Consumer Protection Act as (A) columbite-tantalite, also known as coltan (the metal ore from which tantalum is extracted); cassiterite (the metal ore from which tin is extracted); gold; wolframite (the metal ore from which tungsten is extracted); or their derivatives; or (B) any other mineral or its derivatives determined by the Secretary of State to be financing conflict in the Democratic Republic of the Congo ("DRC") or an adjoining country.

2OECD (2016), OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas: Third Edition, OECD Publishing, Paris. http://dx.doi.org/10.1787/9789264252479-en

II.    Overview

Company Profile

The Company is a Tennessee corporation which was incorporated in 1972. The Company designs, engineers, manufactures and market equipment and components used primarily in road building and related construction activities, as well as other products discussed below. Our products are used in each phase of road building, from quarrying and crushing the aggregate to application of the road surface. We also offer industrial automation controls and telematic platforms as well as manufacturing certain equipment and components unrelated to road construction, including equipment for the mining, quarrying, construction, demolition, land clearing and recycling industries and port and rail yard operators; industrial heat transfer equipment; commercial whole-tree pulpwood chippers; horizontal grinders; blower trucks; commercial and industrial burners; and combustion control systems. Our products are marketed both domestically and internationally primarily to asphalt producers; highway and heavy equipment contractors; utility contractors; sand and gravel producers; construction, demolition, recycle and crushing contractors; forestry and environmental recycling contractors; mine and quarry operators; port and inland terminal authorities; power stations and domestic and foreign government agencies. In addition to equipment sales, we manufacture and sell replacement parts for equipment in each of our product lines and replacement parts for some competitors' equipment. The distribution and sale of replacement parts is an integral part of our business. We are subject to Rule 13p-1 as we have determined that, during 2023, conflict minerals were likely necessary to the functionality or production of products we manufactured or contracted to manufacture. The Company, as a purchaser of component parts, is many steps removed from the mining of conflict minerals. We do not purchase raw ore or unrefined conflict minerals and we conduct no purchasing activities directly in the DRC or adjoining countries.

Conflict Minerals Policy

The Company developed a policy statement to support the goals expressed by Congress in enacting Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The policy highlights the Company's commitment to complying with the reporting and due diligence obligations required by the SEC rule and the Company's expectations from its suppliers. In addition, the policy includes language encouraging suppliers to source responsibly and expectations that its supplier partners promote an environment of respect for all individuals worldwide and operate in a manner that imposes honor and integrity in all aspects of business. The policy resides on our corporate website (https://www.astecindustries.com/esg/more/conflict-materials). This policy is reviewed periodically and updated as needed.

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Reasonable Country of Origin Inquiry Information

We have conducted a good faith reasonable country of origin inquiry ("RCOI") to determine whether the necessary conflict minerals originated in the DRC or an adjoining country or came from recycled or scrap sources.

The Company's RCOI process included reviewing the products manufactured or contracted to be manufactured during the Reporting Period to identify products that should be deemed in-scope as described by the Adopting Release and conducting an inquiry of our direct suppliers of the in-scope products using the Responsible Minerals Initiative's ("RMI") Conflict Minerals Reporting Template ("CMRT"). Based on the results of our RCOI which indicated sourcing from the DRC or an adjoining country, we exercised due diligence on the source and chain of custody of the conflict minerals in accordance with the OECD Due Diligence Guidance. Our due diligence efforts are discussed further in this Conflict Minerals Report.

Due Diligence Program Design

The Company designed its conflict minerals program to conform, in all material respects, with the five-step framework of the OECD Due Diligence Guidance, the Supplement on Tin, Tantalum, and Tungsten, and the Supplement on Gold, specifically as they relate to our position in the minerals supply chain as a "downstream" company:

Step 1:    Establish strong company management systems
Step 2:    Identify and assess risks in the supply chain
Step 3:    Design and implement a strategy to respond to identified risks
Step 4:    Carry out independent third-party audit of smelter/refiner's due diligence practices
Step 5:    Report annually on supply chain due diligence

III.    Due Diligence Measures Performed by The Company

The following describes the measures taken to reasonably determine the country of origin and to exercise due diligence in the mineral supply chain in conformance with the OECD Due Diligence Guidance.

Step 1: Establish strong company management systems

a.Conflict minerals team – The Company established a conflict minerals team that includes individuals from the relevant business units procurement teams and the global procurement team. The team was structured to include the involvement from those in management roles, including the Corporate Procurement Director, to help ensure that critical information, including the Company's conflict minerals policy, reached relevant employees and suppliers.
b.Conflict minerals policy – The Company adopted and published a policy establishing the expectations of our suppliers. The policy resides on our corporate website (https://www.astecindustries.com/esg/more/conflict-materials).
c.Internal engagement – We developed a training program to educate employees on our conflict minerals process, the goals of our program, and our reporting obligations as a supplier and a public company.
d.Supplier engagement – The Company communicated its conflict minerals policy and provided educational materials to its in-scope suppliers. Suppliers were informed when the request for information was initiated on the conflict minerals disclosure requirements as well as recommendations for developing, implementing, and documenting a conflict minerals compliance program. Stakeholders can communicate directly and confidentially with our compliance officer.
e.Company level grievance mechanism – As recommended by the OECD Due Diligence Guidance, the Company has a grievance mechanism in place as a risk-awareness system for conflict minerals issues. The policy statement provides a contact for internal and external stakeholders to reach out to regarding questions and concerns.
f.Records management – The Company maintains records relating to its conflict minerals program in accordance with the recommended record retention guidelines of five years.

Step 2: Identify and assess risks in the supply chain

We performed the following steps as part of our risk assessment process:

a.Identified products in scope – Our conflict minerals team conducted a detailed review of the products manufactured or contracted to be manufactured by us during the Reporting Period to identify products that should be deemed in-scope as described by the Adopting Release.
b.Conducted RCOI – The Company utilized the most recent version of the industry-developed CMRT to query our suppliers for conflict minerals information. We requested this information from the Tier 1 suppliers who provide materials and components for the products deemed in-scope by our conflict minerals team. We evaluated the responses from the templates submitted by our suppliers to determine our reporting obligation based on this RCOI. See Appendix I for a list of countries of origin identified through the RCOI process.
c.Completed additional follow-up – The Company contacted direct suppliers multiple times as needed to request detailed conflict minerals information. We also worked to clarify and validate the accuracy of information provided by our suppliers by responding with standardized feedback questions to address any issues or uncertainty with the template provided when necessary and/or obtaining additional information upon request (product identification, order numbers, or shipping addresses) to help ensure we are receiving conflict minerals information specific to our supply-chain.
d.Identified smelters or refiners ("SORs") – The Company compiled a list of SORs in our supply chain using our suppliers' responses in their CMRTs. The Company reconciled this list to the list of smelter facilities designated by the RMI's Responsible Minerals Assurance Process ("RMAP"). The RMAP completes independent, third-party audits of smelters and refiners to determine which can be validated as having systems in place that help ensure the minerals are responsibly sourced according to the OECD Due Diligence Guidance. The company also utilized information provided by the London
-2-


Bullion Market Association (LBMA) and Responsible Jewelry Council (RJC) cross-recognition audit programs. The Company maintains a database of smelter aliases to reconcile suppliers' smelters lists to RMI's list of SORs. We have provided that list in this report within section IV – Product Description; Processing Facilities.
e.Performed smelter due diligence with suppliers – Suppliers that reported smelters deemed to be high risk received additional communication asking them to clarify if those smelters are reflective of the purchases made and to continue due diligence on their supply chains. High risk smelters are those that have not yet undergone a third-party audit or have been deemed non-conformant.

Step 3: Design and implement a strategy to respond to identified risks

We performed the following steps as part of our risk management plan:

a.Reporting results to senior management – As necessary, the Conflict Minerals team reports the results of our RCOI to upper management which included the team's plan to respond to risks identified in the due diligence processes.
b.Designed and implemented a plan – The Company used established risk rating criteria to evaluate suppliers based on the responses provided within their CMRT, as well as, any additional documentation furnished to support those responses and the suppliers' due diligence processes. The resulting risk ratings are used to develop specific supplier outreach and training to address the identified risks and to take corrective actions with suppliers found not in compliance with the Company's conflict minerals policy. These actions may include additional outreach to suppliers who failed to respond to our multiple requests for information, provided inconsistent or erroneous information, or indicated they had received responses from less than 50% of their in-scope suppliers. Our team further reviews the responses to verify the validity of SORs reported by our suppliers, the audit status of such SORs and the country of origin of the minerals processed at such facilities.
c.Provided informational materials – The Company provided suppliers with informational materials that explain Section 1502 of the Dodd Frank Act, the OECD framework, the RCOI process, and general information on the contents of the most recent revision of the CMRT (including definitions of common phrases and frequently asked questions). These materials are provided to suppliers at the time of the initial request for a completed CMRT. The informational material serves as a point of reference for suppliers that are unfamiliar with the rule and helps limit the risk of obtaining inaccurate information from them. Throughout the process we offer assistance to our suppliers to improve the quality of the information provided to us.
d.Provided conflict minerals policy to suppliers – After working with a supplier to obtain a CMRT, we provide them with a copy of our conflict minerals policy for their records to ensure our suppliers continue to operate in line with our expectations.
e.Identified SORs – As part of the risk mitigation process, the Company reconciled the list of SORs collected from suppliers to the list of smelter facilities validated by the RMI. The Company maintains a database of smelter aliases to reconcile suppliers' smelters lists to RMI's list of SORs.
f.Ongoing risk monitoring – suppliers, smelters and refiners that have been identified as high-risk through our risk assessment process are tracked to assess their progress towards meeting our expectations.

Step 4: Carry out independent third-party audit of smelter/refiner's due diligence practices

The Company is using information provided by independent third-party audit programs, including the RMI RMAP, LBMA, and RJC, to confirm the existence and verify the OECD-conformance status of SORs identified during our due diligence.

For smelters that had not been audited as conformant, the Company sent a communication to encourage participation in the RMAP and requested the SOR to provide the mines and/or locations the SOR sources from to assist in identifying all countries of origin. Additionally, the Company sent communications to all suppliers that reported SORs that had not been audited as conformant to request that these suppliers contact the SORs to encourage participation in the RMAP.

Step 5: Report annually on supply chain due diligence

Accordingly, this Conflict Minerals Report has been filed with the SEC and is available on our website at https://www.astecindustries.com/esg/more/conflict-materials.

IV.    Product Description; Processing Facilities

Product Description We operate manufacturing sites and sites that operate as sales and service offices for our manufacturing locations. Our two reportable business segments, Infrastructure Solutions and Materials Solutions, comprise sites based upon the nature of the products produced or services provided, the type of customer for the products, the similarity of economic characteristics, the manner in which management reviews results and the nature of the production process, among other considerations.

Processing FacilitiesBased on our due diligence process and the information received from our suppliers, the following facilities were identified by the Company's suppliers as the smelters and refiners of the tin, tantalum, tungsten and/or gold present in and necessary to the functionality or production of products manufactured (or contracted to be manufactured) by the Company in the calendar year ended December 31, 2023. The information from our suppliers is still evolving and may contain company-level declarations, rather than information that is specific to the products/components supplied to us. As such, this smelter list is presented in good faith as the best information we have to date. For 2023 we identified 289 SORs in our supply chain, 196 have been audited as conformant with the RMAP or equivalent independent third-party audit program. This list may contain smelters that are not in our supply chain and/or there may be other smelters not yet identified in our due diligence
-3-


process. We will continue to update the list as our information and the relevant third-party data from RMI, LBMA, and RJC improves.

chart-4ca7220bc95f48e3860.jpg
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chart-0a80fed48dc94604bc6.jpg
chart-51d20b6fa8324c7ead7.jpg
MetalSmelter NameCountrySmelter ID
Gold8853 S.p.A.ITALYCID002763
GoldABC Refinery Pty Ltd.AUSTRALIACID002920
GoldAbington Reldan Metals, LLCUNITED STATES OF AMERICACID002708
GoldAdvanced Chemical CompanyUNITED STATES OF AMERICACID000015
GoldAgosi AGGERMANYCID000035
GoldWestern Australian Mint (T/a The Perth Mint)AUSTRALIACID002030
GoldAida Chemical Industries Co., Ltd.JAPANCID000019
GoldDowaJAPANCID000401
GoldAl Etihad Gold Refinery DMCCUNITED ARAB EMIRATESCID002560
GoldAlbino Mountinho Lda.PORTUGALCID002760
GoldAlexy MetalsUNITED STATES OF AMERICACID003500
GoldAlmalyk Mining and Metallurgical Complex (AMMC)UZBEKISTANCID000041
GoldAsahi Pretec Corp.JAPANCID000082
GoldAngloGold Ashanti Corrego do Sitio MineracaoBRAZILCID000058
GoldTongling Nonferrous Metals Group Co., Ltd.CHINACID001947
GoldArgor-Heraeus S.A.SWITZERLANDCID000077
GoldAsahi Refining Canada Ltd.CANADACID000924
GoldAsahi Refining USA Inc.UNITED STATES OF AMERICACID000920
-5-


GoldAsaka Riken Co., Ltd.JAPANCID000090
GoldAtasay Kuyumculuk Sanayi Ve Ticaret A.S.TURKEYCID000103
GoldAU Traders and RefinersSOUTH AFRICACID002850
GoldAugmont Enterprises Private LimitedINDIACID003461
GoldAurubis AGGERMANYCID000113
GoldBangalore RefineryINDIACID002863
GoldBangko Sentral ng Pilipinas (Central Bank of the Philippines)PHILIPPINESCID000128
GoldBoliden RonnskarSWEDENCID000157
GoldC. Hafner GmbH + Co. KGGERMANYCID000176
GoldCaridadMEXICOCID000180
GoldCCR Refinery - Glencore Canada CorporationCANADACID000185
GoldCendres + Metaux S.A.SWITZERLANDCID000189
GoldCGR Metalloys Pvt Ltd.INDIACID003382
GoldYunnan Copper Industry Co., Ltd.CHINACID000197
GoldChimet S.p.A.ITALYCID000233
GoldZhongyuan Gold Smelter of Zhongjin Gold CorporationCHINACID002224
GoldShandong Gold Smelting Co., Ltd.CHINACID001916
GoldChugai MiningJAPANCID000264
GoldCoimpa Industrial LTDABRAZILCID004010
GoldDaye Non-Ferrous Metals Mining Ltd.CHINACID000343
GoldDegussa Sonne / Mond Goldhandel GmbHGERMANYCID002867
GoldDijllah Gold Refinery FZCUNITED ARAB EMIRATESCID003348
GoldDSC (Do Sung Corporation)KOREA, REPUBLIC OFCID000359
GoldDongwu Gold GroupCHINACID003663
GoldEco-System Recycling Co., Ltd. East PlantJAPANCID000425
GoldEco-System Recycling Co., Ltd. North PlantJAPANCID003424
GoldEco-System Recycling Co., Ltd. West PlantJAPANCID003425
GoldEmerald Jewel Industry India Limited (Unit 1)INDIACID003487
GoldEmerald Jewel Industry India Limited (Unit 2)INDIACID003488
GoldEmerald Jewel Industry India Limited (Unit 3)INDIACID003489
GoldEmerald Jewel Industry India Limited (Unit 4)INDIACID003490
GoldEmirates Gold DMCCUNITED ARAB EMIRATESCID002561
GoldFujairah Gold FZCUNITED ARAB EMIRATESCID002584
GoldGold Refinery of Zijin Mining Group Co., Ltd.CHINACID002243
GoldGreat Wall Precious Metals Co., Ltd. of CBPMCHINACID001909
GoldGuangdong Jinding Gold LimitedCHINACID002312
GoldGuoda Safina High-Tech Environmental Refinery Co., Ltd.CHINACID000651
GoldHangzhou Fuchunjiang Smelting Co., Ltd.CHINACID000671
GoldLT Metal Ltd.KOREA, REPUBLIC OFCID000689
GoldHeimerle + Meule GmbHGERMANYCID000694
GoldHeraeus Germany GmbH Co. KGGERMANYCID000711
GoldHeraeus Metals Hong Kong Ltd.CHINACID000707
GoldHunan Chenzhou Mining Co., Ltd.CHINACID000767
GoldHunan Guiyang yinxing Nonferrous Smelting Co., Ltd.CHINACID000773
GoldHwaSeong CJ CO., LTD.KOREA, REPUBLIC OFCID000778
GoldInner Mongolia Qiankun Gold and Silver Refinery Share Co., Ltd.CHINACID000801
GoldInternational Precious Metal RefinersUNITED ARAB EMIRATESCID002562
GoldIshifuku Metal Industry Co., Ltd.JAPANCID000807
GoldIstanbul Gold RefineryTURKEYCID000814
GoldItalpreziosiITALYCID002765
GoldJALAN & CompanyINDIACID002893
GoldJapan MintJAPANCID000823
GoldJiangxi Copper Co., Ltd.CHINACID000855
GoldJX Nippon Mining & Metals Co., Ltd.JAPANCID000937
-6-


GoldK.A. RasmussenNORWAYCID003497
GoldKazakhmys Smelting LLCKAZAKHSTANCID000956
GoldKazzincKAZAKHSTANCID000957
GoldKennecott Utah Copper LLCUNITED STATES OF AMERICACID000969
GoldKGHM Polska Miedz Spolka AkcyjnaPOLANDCID002511
GoldYamakin Co., Ltd.JAPANCID002100
GoldKojima Chemicals Co., Ltd.JAPANCID000981
GoldKorea Zinc Co., Ltd.KOREA, REPUBLIC OFCID002605
GoldKundan Care Products Ltd.INDIACID003463
GoldKyrgyzaltyn JSCKYRGYZSTANCID001029
GoldL'azurde Company For JewelrySAUDI ARABIACID001032
GoldLingbao Gold Co., Ltd.CHINACID001056
GoldLingbao Jinyuan Tonghui Refinery Co., Ltd.CHINACID001058
GoldL'Orfebre S.A.ANDORRACID002762
GoldLS MnM Inc.KOREA, REPUBLIC OFCID001078
GoldLuoyang Zijin Yinhui Gold Refinery Co., Ltd.CHINACID001093
GoldMarsam MetalsBRAZILCID002606
GoldMaterionUNITED STATES OF AMERICACID001113
GoldMatsuda Sangyo Co., Ltd.JAPANCID001119
GoldMD OverseasINDIACID003548
GoldSumitomo Metal Mining Co., Ltd.JAPANCID001798
GoldMetal Concentrators SA (Pty) Ltd.SOUTH AFRICACID003575
GoldMetalurgica Met-Mex Penoles S.A. De C.V.MEXICOCID001161
GoldMetallix Refining Inc.UNITED STATES OF AMERICACID003557
GoldUmicore S.A. Business Unit Precious Metals RefiningBELGIUMCID001980
GoldMetalor Technologies S.A.SWITZERLANDCID001153
GoldMetalor Technologies (Hong Kong) Ltd.CHINACID001149
GoldMetalor Technologies (Singapore) Pte., Ltd.SINGAPORECID001152
GoldMetalor Technologies (Suzhou) Ltd.CHINACID001147
GoldMetalor USA Refining CorporationUNITED STATES OF AMERICACID001157
GoldMitsubishi Materials CorporationJAPANCID001188
GoldMitsui Mining and Smelting Co., Ltd.JAPANCID001193
GoldMKS PAMP SASWITZERLANDCID001352
GoldMMTC-PAMP India Pvt., Ltd.INDIACID002509
GoldModeltech Sdn BhdMALAYSIACID002857
GoldMorris and WatsonNEW ZEALANDCID002282
GoldNadir Metal Rafineri San. Ve Tic. A.S.TURKEYCID001220
GoldNavoi Mining and Metallurgical CombinatUZBEKISTANCID001236
GoldNH Recytech CompanyKOREA, REPUBLIC OFCID003189
GoldNihon Material Co., Ltd.JAPANCID001259
GoldOgussa Osterreichische Gold- und Silber-Scheideanstalt GmbHAUSTRIACID002779
GoldOhura Precious Metal Industry Co., Ltd.JAPANCID001325
GoldPease & CurrenUNITED STATES OF AMERICACID002872
GoldPenglai Penggang Gold Industry Co., Ltd.CHINACID001362
GoldPlanta Recuperadora de Metales SpACHILECID002919
GoldPT Aneka Tambang (Persero) TbkINDONESIACID001397
GoldPX Precinox S.A.SWITZERLANDCID001498
GoldQG Refining, LLCUNITED STATES OF AMERICACID003324
GoldRand Refinery (Pty) Ltd.SOUTH AFRICACID001512
GoldRefinery of Seemine Gold Co., Ltd.CHINACID000522
GoldREMONDIS PMR B.V.NETHERLANDSCID002582
GoldRoyal Canadian MintCANADACID001534
GoldSAAMPFRANCECID002761
GoldSabin Metal Corp.UNITED STATES OF AMERICACID001546
-7-


GoldSafimet S.p.AITALYCID002973
GoldSAFINA A.S.CZECHIACID002290
GoldSai RefineryINDIACID002853
GoldSam Precious MetalsUNITED ARAB EMIRATESCID003666
GoldSamduck Precious MetalsKOREA, REPUBLIC OFCID001555
GoldSamwon Metals Corp.KOREA, REPUBLIC OFCID001562
GoldSEMPSA Joyeria Plateria S.A.SPAINCID001585
GoldShandong Humon Smelting Co., Ltd.CHINACID002525
GoldShandong Tiancheng Biological Gold Industrial Co., Ltd.CHINACID001619
GoldShandong Zhaojin Gold & Silver Refinery Co., Ltd.CHINACID001622
GoldShenzhen CuiLu Gold Co., Ltd.CHINACID002750
GoldShenzhen Zhonghenglong Real Industry Co., Ltd.CHINACID002527
GoldShirpur Gold Refinery Ltd.INDIACID002588
GoldTanaka Kikinzoku Kogyo K.K.JAPANCID001875
GoldSichuan Tianze Precious Metals Co., Ltd.CHINACID001736
GoldSingway Technology Co., Ltd.TAIWAN, PROVINCE OF CHINACID002516
GoldSolar Applied Materials Technology Corp.TAIWAN, PROVINCE OF CHINACID001761
GoldSovereign MetalsINDIACID003383
GoldState Research Institute Center for Physical Sciences and TechnologyLITHUANIACID003153
GoldSungEel HiMetal Co., Ltd.KOREA, REPUBLIC OFCID002918
GoldSuper Dragon Technology Co., Ltd.TAIWAN, PROVINCE OF CHINACID001810
GoldT.C.A S.p.AITALYCID002580
GoldTokuriki Honten Co., Ltd.JAPANCID001938
GoldTOO Tau-Ken-AltynKAZAKHSTANCID002615
GoldTorecomKOREA, REPUBLIC OFCID001955
GoldUmicore Precious Metals ThailandTHAILANDCID002314
GoldUnited Precious Metal Refining, Inc.UNITED STATES OF AMERICACID001993
GoldValcambi S.A.SWITZERLANDCID002003
GoldWIELAND Edelmetalle GmbHGERMANYCID002778
GoldYokohama Metal Co., Ltd.JAPANCID002129
Tantalum5D Production OUESTONIACID003926
TantalumAMG BrasilBRAZILCID001076
TantalumD Block Metals, LLCUNITED STATES OF AMERICACID002504
TantalumF&X Electro-Materials Ltd.CHINACID000460
TantalumFIR Metals & Resource Ltd.CHINACID002505
TantalumGlobal Advanced Metals AizuJAPANCID002558
TantalumGlobal Advanced Metals BoyertownUNITED STATES OF AMERICACID002557
TantalumXIMEI RESOURCES (GUANGDONG) LIMITEDCHINACID000616
TantalumTANIOBIS Co., Ltd.THAILANDCID002544
TantalumMaterion Newton Inc.UNITED STATES OF AMERICACID002548
TantalumTANIOBIS Japan Co., Ltd.JAPANCID002549
TantalumTANIOBIS Smelting GmbH & Co. KGGERMANYCID002550
TantalumTANIOBIS GmbHGERMANYCID002545
TantalumHengyang King Xing Lifeng New Materials Co., Ltd.CHINACID002492
TantalumJiangxi Dinghai Tantalum & Niobium Co., Ltd.CHINACID002512
TantalumJiangxi Tuohong New Raw MaterialCHINACID002842
TantalumJiuJiang JinXin Nonferrous Metals Co., Ltd.CHINACID000914
TantalumJiujiang Tanbre Co., Ltd.CHINACID000917
TantalumJiujiang Zhongao Tantalum & Niobium Co., Ltd.CHINACID002506
TantalumKEMET de MexicoMEXICOCID002539
TantalumMetallurgical Products India Pvt., Ltd.INDIACID001163
TantalumMineracao Taboca S.A.BRAZILCID001175
TantalumMitsui Mining and Smelting Co., Ltd.JAPANCID001192
TantalumNPM Silmet ASESTONIACID001200
-8-


TantalumNingxia Orient Tantalum Industry Co., Ltd.CHINACID001277
TantalumPowerX Ltd.RWANDACID004054
TantalumQuantumCleanUNITED STATES OF AMERICACID001508
TantalumResind Industria e Comercio Ltda.BRAZILCID002707
TantalumYanling Jincheng Tantalum & Niobium Co., Ltd.CHINACID001522
TantalumRFH Yancheng Jinye New Material Technology Co., Ltd.CHINACID003583
TantalumSolikamsk Magnesium Works OAORUSSIAN FEDERATIONCID001769
TantalumTaki Chemical Co., Ltd.JAPANCID001869
TantalumTelex MetalsUNITED STATES OF AMERICACID001891
TantalumUlba Metallurgical Plant JSCKAZAKHSTANCID001969
TinAlphaUNITED STATES OF AMERICACID000292
TinAn Vinh Joint Stock Mineral Processing CompanyVIET NAMCID002703
TinAurubis BeerseBELGIUMCID002773
TinAurubis BerangoSPAINCID002774
TinPT Refined Bangka TinINDONESIACID001460
TinYunnan Chengfeng Non-ferrous Metals Co., Ltd.CHINACID002158
TinChenzhou Yunxiang Mining and Metallurgy Co., Ltd.CHINACID000228
TinChifeng Dajingzi Tin Industry Co., Ltd.CHINACID003190
TinChina Tin Group Co., Ltd.CHINACID001070
TinTin Smelting Branch of Yunnan Tin Co., Ltd.CHINACID002180
TinCRM Fundicao De Metais E Comercio De Equipamentos Eletronicos Do Brasil LtdaBRAZILCID003486
TinCRM SynergiesSPAINCID003524
TinPT Rajehan AriqINDONESIACID002593
TinDongguan CiEXPO Environmental Engineering Co., Ltd.CHINACID003356
TinDowaJAPANCID000402
TinDS MyanmarMYANMARCID003831
TinElectro-Mechanical Facility of the Cao Bang Minerals & Metallurgy Joint Stock CompanyVIET NAMCID002572
TinEM VintoBOLIVIA (PLURINATIONAL STATE OF)CID000438
TinEstanho de Rondonia S.A.BRAZILCID000448
TinFenix MetalsPOLANDCID000468
TinMinsurPERUCID001182
TinGejiu Kai Meng Industry and Trade LLCCHINACID000942
TinGejiu Non-Ferrous Metal Processing Co., Ltd.CHINACID000538
TinGejiu Yunxin Nonferrous Electrolysis Co., Ltd.CHINACID001908
TinGejiu Zili Mining And Metallurgy Co., Ltd.CHINACID000555
TinGuangdong Hanhe Non-Ferrous Metal Co., Ltd.CHINACID003116
TinMalaysia Smelting Corporation (MSC)MALAYSIACID001105
TinMitsubishi Materials CorporationJAPANCID001191
TinPT Timah Tbk MentokINDONESIACID001482
TinJiangxi New Nanshan Technology Ltd.CHINACID001231
TinPT Timah Tbk KundurINDONESIACID001477
TinMagnu's Minerais Metais e Ligas Ltda.BRAZILCID002468
TinMelt Metais e Ligas S.A.BRAZILCID002500
TinMetallic Resources, Inc.UNITED STATES OF AMERICACID001142
TinMineracao Taboca S.A.BRAZILCID001173
TinMining Minerals Resources SARLCONGO, DEMOCRATIC REPUBLIC OF THECID004065
TinModeltech Sdn BhdMALAYSIACID002858
TinNghe Tinh Non-Ferrous Metals Joint Stock CompanyVIET NAMCID002573
TinO.M. Manufacturing (Thailand) Co., Ltd.THAILANDCID001314
TinO.M. Manufacturing Philippines, Inc.PHILIPPINESCID002517
TinOperaciones Metalurgicas S.A.BOLIVIA (PLURINATIONAL STATE OF)CID001337
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TinPongpipat Company LimitedMYANMARCID003208
TinPT Bangka SerumpunINDONESIACID003205
TinPT Mitra Stania PrimaINDONESIACID001453
TinPT Mitra Sukses GlobalindoINDONESIACID003449
TinPT Putera Sarana Shakti (PT PSS)INDONESIACID003868
TinPT Sukses Inti Makmur (SIM)INDONESIACID002816
TinResind Industria e Comercio Ltda.BRAZILCID002706
TinRui Da HungTAIWAN, PROVINCE OF CHINACID001539
TinSuper LigasBRAZILCID002756
TinThaisarcoTHAILANDCID001898
TinTin Technology & RefiningUNITED STATES OF AMERICACID003325
TinTuyen Quang Non-Ferrous Metals Joint Stock CompanyVIET NAMCID002574
TinWhite Solder Metalurgia e Mineracao Ltda.BRAZILCID002036
TinYunnan Yunfan Non-ferrous Metals Co., Ltd.CHINACID003397
TungstenA.L.M.T. Corp.JAPANCID000004
TungstenACL Metais EireliBRAZILCID002833
TungstenAlbasteel Industria e Comercio de Ligas Para Fundicao Ltd.BRAZILCID003427
TungstenAsia Tungsten Products Vietnam Ltd.VIET NAMCID002502
TungstenKennametal HuntsvilleUNITED STATES OF AMERICACID000105
TungstenGuangdong Xianglu Tungsten Co., Ltd.CHINACID000218
TungstenHunan Shizhuyuan Nonferrous Metals Co., Ltd. Chenzhou Tungsten Products BranchCHINACID002513
TungstenChina Molybdenum Tungsten Co., Ltd.CHINACID002641
TungstenChongyi Zhangyuan Tungsten Co., Ltd.CHINACID000258
TungstenCNMC (Guangxi) PGMA Co., Ltd.CHINACID000281
TungstenCronimet Brasil LtdaBRAZILCID003468
TungstenDONGKUK INDUSTRIES CO., LTD.KOREA, REPUBLIC OFCID004060
TungstenFujian Xinlu Tungsten Co., Ltd.CHINACID003609
TungstenGanzhou Jiangwu Ferrotungsten Co., Ltd.CHINACID002315
TungstenGanzhou Seadragon W & Mo Co., Ltd.CHINACID002494
TungstenHubei Green Tungsten Co., Ltd.CHINACID003417
TungstenGlobal Tungsten & Powders LLCUNITED STATES OF AMERICACID000568
TungstenTANIOBIS Smelting GmbH & Co. KGGERMANYCID002542
TungstenH.C. Starck Tungsten GmbHGERMANYCID002541
TungstenHANNAE FOR T Co., Ltd.KOREA, REPUBLIC OFCID003978
TungstenHunan Jintai New Material Co., Ltd.CHINACID000769
TungstenHunan Chenzhou Mining Co., Ltd.CHINACID000766
TungstenHydrometallurg, JSCRUSSIAN FEDERATIONCID002649
TungstenJapan New Metals Co., Ltd.JAPANCID000825
TungstenJiangwu H.C. Starck Tungsten Products Co., Ltd.CHINACID002551
TungstenJiangxi Gan Bei Tungsten Co., Ltd.CHINACID002321
TungstenJiangxi Minmetals Gao'an Non-ferrous Metals Co., Ltd.CHINACID002313
TungstenJiangxi Tonggu Non-ferrous Metallurgical & Chemical Co., Ltd.CHINACID002318
TungstenJiangxi Xinsheng Tungsten Industry Co., Ltd.CHINACID002317
TungstenJiangxi Yaosheng Tungsten Co., Ltd.CHINACID002316
TungstenKennametal FallonUNITED STATES OF AMERICACID000966
TungstenMalipo Haiyu Tungsten Co., Ltd.CHINACID002319
TungstenMasan High-Tech MaterialsVIET NAMCID002543
TungstenMoliren Ltd.RUSSIAN FEDERATIONCID002845
TungstenNam Viet Cromit Joint Stock CompanyVIET NAMCID004034
TungstenNiagara Refining LLCUNITED STATES OF AMERICACID002589
TungstenPhilippine Chuangxin Industrial Co., Inc.PHILIPPINESCID002827
TungstenShinwon Tungsten (Fujian Shanghang) Co., Ltd.CHINACID004430
TungstenTungsten Vietnam Joint Stock CompanyVIET NAMCID003993
TungstenUnecha Refractory metals plantRUSSIAN FEDERATIONCID002724
-10-


TungstenWolfram Bergbau und Hutten AGAUSTRIACID002044
TungstenXiamen Tungsten (H.C.) Co., Ltd.CHINACID002320
TungstenXiamen Tungsten Co., Ltd.CHINACID002082
TungstenYUDU ANSHENG TUNGSTEN CO., LTD.CHINACID003662

V.    Future Steps to Mitigate Risk

We will continue to communicate our expectations and information requirements to our direct suppliers. Over time, we anticipate that the amount of information available globally on the traceability and sourcing of these minerals will increase and improve our knowledge. We will continue to make inquiries to our direct suppliers, seek information as to the ultimate sources of these raw materials, and undertake additional risk assessments when potentially relevant changes in facts or circumstances are identified. If we become aware of a supplier whose due diligence needs improvement, we may continue the trade relationship while that supplier improves its compliance program or we may find alternative suppliers. We expect our suppliers to take similar measures with their suppliers to help ensure alignment throughout the supply chain.

In addition the actions noted elsewhere in this report, the Company will undertake the following steps during the next compliance period:

•    Review the conflict minerals policy statement and update if necessary.
•    Review supplier and employee training materials and update if necessary.
•    Continue to collect responses from suppliers using the most recent revision of the CMRT.
•    Engage with suppliers that did not provide a response in 2023 or provided incomplete responses to enhance our data collection for 2024.
•    Monitor and track performance of risk mitigation efforts including the performance of suppliers deemed high-risk.
•    Continue engagement with smelters by sending letters to those that have not been audited as conformant.
•    Continue to send messages to encourage our suppliers to engage with smelters that have not been audited as conformant.
•    Collect from suppliers product-level or user-defined level responses where useful.
•    Compare and validate RCOI results to information collected via independent third-party audit programs, such as the RMI.
•    Encourage responsible sourcing from the DRC and adjoining countries.
•    Stay aware of new and related sourcing challenges that affect smelter RMI audit status.

Forward-Looking Statements

Certain statements in this report, other than purely historical information, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended. and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "forecast," "outlook," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result" or the negative thereof or variations thereon or similar expressions generally intended to identify forward-looking statements.

Forward-looking statements are based on the Company's currently available information and our current assumptions, expectations and projections about future events. They are subject to future events, risks and uncertainties - many of which are beyond the Company's control - as well as potentially inaccurate assumptions, that could cause actual results to differ materially from those in the forward-looking statements. Further information on these factors and other risks that may affect the Company's business is included in filings it makes with the Securities and Exchange Commission from time to time, including its Annual Reports filed on Form 10-K, its Quarterly Reports filed on Form 10-Q, and in its other SEC filings. The Company undertakes no obligation to update any forward-looking statements.
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APPENDIX I – Countries of Origin

The information provided in this Appendix is based on the information collected from the Company's suppliers.

AustraliaMozambique
AustriaMyanmar
BeninNicaragua
Bolivia (Plurinational State of)Niger
BrazilNigeria
BurundiPapua New Guinea
CanadaPeru
ChilePhilippines
ChinaPortugal
ColombiaRussian Federation
Congo, Democratic Republic of theRwanda
EthiopiaSierra Leone
FranceSouth Africa
GhanaSpain
GuineaSweden
GuyanaTanzania
IndonesiaThailand
Kazakhstan Uganda
South KoreaUnited Kingdom of Great Britain and Northern Ireland
LaosUnited States of America
MadagascarUzbekistan
MalaysiaVietnam
MexicoZimbabwe
Mongolia 
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