Exhibit 1.01

AAR CORP.

Conflict Minerals Report

For the Calendar Year Ended December 31, 2022

AAR CORP. has prepared this Conflict Minerals Report (“CMR”) for the calendar year ended December 31, 2022 to comply with Rule 13p-1 under the Securities Exchange Act of 1934, as amended (the “Rule”). The Rule was adopted by the Securities and Exchange Commission (“SEC”) to implement reporting and disclosure requirements related to conflict minerals as directed by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The Rule imposes reporting obligations on SEC registrants whose manufactured products contain certain minerals that are necessary to the functionality or production of those products. The subject minerals are cassiterite, columbite-tantalite, gold, wolframite and their derivatives, which are limited to tin, tantalum and tungsten (the minerals and their derivatives are collectively referred to in this CMR as the “Conflict Minerals”).

AAR CORP. and its consolidated entities are collectively referred to in this CMR as “AAR,” “Company,” “we,” “us,” and “our” unless the context indicates otherwise.

AAR provides a diversified portfolio of products and services to the worldwide aviation and government and defense markets. Throughout calendar year 2022, we reported our activities in two business segments: Aviation Services and Expeditionary Services.

Within these two business segments, there are three AAR business units that potentially fit within the scope of the Rule for calendar year 2022. These three business units, together with a description of the principal categories of products that were manufactured by or for those business units in calendar year 2022, are set forth below:

In calendar year 2022, we continued to analyze the products within these three business units to determine the use of any Conflict Minerals. We also conducted country of origin inquiries and due diligence, as required, to determine the sourcing of any Conflict Minerals used in our products. This CMR is based on these efforts and relates to products within the three business units that contain Conflict Minerals that are necessary to their functionality or production, and for which manufacturing was completed during calendar year 2022.

AAR does not purchase any raw ore or unrefined Conflict Minerals used in AAR’s products directly from mines, smelters or refiners or have any direct relationships with mines, smelters or refiners. Therefore, we must rely on our direct suppliers to provide information on the origin of any Conflict Minerals contained in materials and components supplied to us. Our direct suppliers are similarly reliant upon information provided by their suppliers. Accordingly, our ability to provide the required Conflict Minerals information depends on the cooperation that we receive from our direct suppliers and the cooperation they, in turn, receive from their suppliers.

Each of the three business units identified above analyzed the relevant design information, bills of materials, and material content data forms used with potentially in-scope suppliers as a part of AAR’s RCOI based on the likelihood that the items purchased from those suppliers contained Conflict Minerals. The business units surveyed the in-scope suppliers (the “Supplier Group”) using the Conflict Minerals Reporting Template (“CMRT”) to facilitate disclosure and communication of information regarding smelters and refiners that provide material to our supply chain.

Our RCOI was designed to determine whether any of the Conflict Minerals may be from scrap or recycled sources or if they originated from the Democratic Republic of the Congo, the Republic of the Congo, the Central African Republic, South Sudan, Uganda, Rwanda, Burundi, Tanzania, Zambia or Angola (the “Covered Countries”). We determined that the identification of smelters and refiners by our supply chain is the most reasonable and reliable means for us to address the source and chain of custody of Conflict Minerals in our supply chain.

The Supplier Group responses to our surveys revealed that: some of the Conflict Minerals used in AAR’s products may be from scrap or recycled sources; some of the Conflict Minerals used in AAR’s products are sourced from outside the Covered Countries; and some of the Conflict Minerals used in AAR’s products are or may be sourced from the Covered Countries. Since we identified some sourcing from the Covered Countries that were not recycled or scrap services, we proceeded to perform the due diligence described below.

The Company designed its due diligence measures to conform, in all material respects, to the Organisation for Economic Co-operation and Development (“OECD”) Due Diligence Guidance for Responsible Supply Chains of Minerals from the Conflict-Affected and High-Risk Areas: Third Edition (2016), including the related supplements for gold and for tin, tantalum and tungsten (collectively, the “OECD Framework”).

Our conflict minerals policy includes a statement on AAR’s commitment to working with our global supply chain to ensure compliance with the Rule. AAR’s expectations for its suppliers to participate in our conflict minerals compliance program are also set forth in the policy. The policy is publicly available on our website at www.aarcorp.com under “Corporate Governance” in the “Investors” section. As part of the training conducted during the implementation of our conflict minerals compliance program in calendar year 2022, the employees at the identified business units were reminded that the policy is available on the website.

The Company’s Senior Corporate Counsel leads a team of employees who are responsible for implementing AAR’s conflict minerals compliance program and executing the supply chain reasonable country of origin and due diligence processes (the “Compliance Team”). The Compliance Team includes employees from each of the three identified business units who work in functions such as design engineering, production or program management, and supply chain. We also retained outside specialist consultants to advise us in connection with our conflict mineral compliance program.

Because we do not have direct relationships with smelters or refiners, the Compliance Team continued to survey the Supplier Group using the CMRT which requires the Supplier Group to work with their upstream supply chain to identify the smelters and refiners that process the Conflict Minerals used in our products.

The Compliance Team e-mailed the respective members of the Supplier Group to explain AAR’s obligations under the Rule and to outline AAR’s expectations for the Supplier Group to cooperate with AAR’s request for assistance. The identified business units also used (a) CMRTs to facilitate identifying the need to gather conflict minerals information at the time of engagement, and (b) supplier terms and conditions in supplier contracts to establish obligations and, where appropriate, financial incentives or penalties for suppliers to cooperate with AAR’s conflict minerals compliance efforts. We also worked with our Supplier Group to answer questions and provide guidance on our conflict minerals policy or program.

AAR maintains an employee hotline that allows employees, suppliers and other third parties to report, (anonymously, if desired) any questions, concerns or violations of the Company’s standards of conduct, policies, and applicable laws and regulations. AAR has also established an e-mail account which any party can use to report questions specifically related to our conflict minerals policy or program.

The Compliance Team tracked the Supplier Group’s completion of the CMRTs. The Compliance Team reviewed responses from the Supplier Group to identify where a supplier indicated that it was sourcing from a Covered Country. The Compliance Team also tracked the disclosure of smelters to determine whether smelters were sourcing from a Covered Country and, if so, whether those smelters had been certified as conflict-free.

We developed a risk management plan to address concerns that a supplier may be selling items to AAR that contain Conflict Minerals sourced from the Covered Countries through a non-certified smelter. If a supplier indicates that items it sells to AAR may contain Conflict Minerals sourced from a non-certified smelter in a Covered Country, we will follow up with the supplier to obtain more information, including the basis for the information provided, as well as information regarding the source and chain of custody for the subject Conflict Minerals. Identified risks will be reported to AAR’s Senior Corporate Counsel who will work with the Compliance Team and ultimately members of senior management to determine appropriate follow-up actions, if any, to mitigate risks.

Our conflict minerals policy states that, if a supplier is unwilling to support AAR in its conflict minerals compliance efforts, AAR and its subsidiaries may take remediation steps, up to and including terminating the supplier and pursuing alternative sourcing arrangements. We also state in our policy that AAR and its subsidiaries may take remediation steps if a supplier cannot determine whether its materials or products contain Conflict Minerals sourced from the Covered Countries. To date, we have not had any instances where it was necessary to terminate or take other remedial action with a supplier.

We do not have any direct relationships with smelters or refiners and, therefore, rely upon the Responsible Minerals Assurance Process (“RMAP”) and other industry validation efforts to perform this audit requirement. We validate whether or not any Conflict Minerals sourced from the Covered Countries is conflict-free based on information provided by the Supplier Group and on the information available on the RMI website.

AAR’s conflicts minerals policy is posted to the Company’s public website at www.aarcorp.com under “Corporate Governance” in the “Investors” section. Upon filing our Form SD and this CMR with the SEC, a copy of those documents will also be publicly available on our website under “Financial Reports and Filings” in the “Investors” section.

Our due diligence of our Supplier Group in 2022 yielded the following results:

Attachment A lists the smelters and refiners identified by our suppliers as being part of our 2022 supply chain. It also includes the following information for each listed smelter/refiner: the subject Conflict Mineral; the name of the smelter/refiner; the country in which the smelter/refiner is located; and the status of the smelter/refiner as of December 19, 2022. Some of our suppliers may have reported smelters/refiners that were not in our supply chain due to over-inclusiveness in the information they received from their suppliers or for other reasons. In addition, the smelters/refiners listed may not be all of the smelters/refiners in our 2022 supply chain because (i) some of our suppliers were not able to identify all of the smelters/refiners used to process the necessary Conflict Minerals contained in our in- scope products and (ii) not all of our suppliers responded to our inquiries.

Based on the due diligence results of our RCOI, AAR is not aware that any Conflict Minerals contained in our manufactured products financed or benefitted, directly or indirectly, any armed groups in the Covered Countries.

We will continue to take the following steps to improve our due diligence efforts and to mitigate further any future risk that our products contain Conflict Minerals that could finance or benefit armed groups in the Covered Countries:

This CMR is not subject to an independent audit under the Rule because we are not declaring that our products are DRC Conflict-Free.

Forward-Looking Statements

This CMR contains certain statements relating to future results, which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on beliefs of Company management, as well as assumptions and estimates based on information currently available to the Company, and are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated, including those factors discussed under Item 1A, entitled “Risk Factors,” included in the Company’s Form 10-K for the fiscal year ended May 31, 2022. Should one or more of these risks or uncertainties materialize adversely, or should underlying assumptions or estimates prove incorrect, actual results may vary materially from those described. These events and uncertainties are difficult or impossible to predict accurately and many are beyond the Company’s control. The Company assumes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

Attachment A