Please wait

Exhibit 1.01

 

 
 

THOR INDUSTRIES, INC.

Conflict Minerals Report

For the Year Ended December 31, 2025

This is the Conflict Minerals1 Report (the “Report”) of THOR Industries, Inc. (“THOR”, the “Company”, “we”, “us”, or “our”) for the reporting period January 1, 2025 to December 31, 2025 pursuant to Rule 13p-1 (the “Rule”) under the Securities Exchange Act of 1934, as amended (the “Act”).

COMPANY AND PRODUCT OVERVIEW

THOR, through its operating subsidiaries, manufactures a wide variety of recreational vehicles and component parts in the United States and Europe and sells those vehicles and components, as well as related parts and accessories, primarily to independent, non-franchise dealers throughout the United States, Canada, and Europe.

For calendar year 2025, our recreational vehicle operating subsidiaries included:

 

  Airstream, Inc.    Heartland Recreational Vehicles, LLC   
  Jayco, Inc.    K. Z., Inc.   
  Keystone RV Company    Thor Motor Coach, Inc.   
  Tiffin Motor Homes, Inc.    Erwin Hymer Group SE   

THOR is also the sole member of Postle Operating, LLC, a producer of extruded aluminum and specialized components for the recreational vehicle and other industries. THOR is also the sole shareholder of Airxcel, Inc. Airxcel manufactures a comprehensive line of high-quality RV products which are sold directly to original equipment manufacturers as well as to consumers via aftermarket sales through dealers and retailers. Airxcel’s brands include Aqua-Hot, CAN, Coleman-Mach, DICOR Products, United Shade, Velarium, InVision, Vixen Composites, Maxxair, MCD, Cleer Vision Windows, and Elkhart Composites. For purposes of this Report, any reference to products manufactured by or supplied to THOR include those products manufactured by and supplied to THOR’s operating subsidiaries.

The majority of THOR’s operating subsidiaries manufacture towable and motorized recreational vehicles. Our subsidiaries’ manufacturing processes mainly consist of the assembly of units and utilize products that may include, but are not limited to, electronics, electronic components, chassis, upholstery, flooring products, wood and wood-based products, adhesives, paint, mirrors, glass, plastic, fiberglass, plumbing components, heating and cooling components, furniture, aluminum, steel, extruded polystyrene, appliances, and other similar products. Postle Operating, LLC’s offerings include aluminum extrusions, powder coating and painting services, and specialized component fabrication and utilize products that may include, but are not limited to, aluminum, paint, steel, and other similar products. Airxcel provides industry-leading products in recreational vehicle heating, cooling, ventilation, cooking, window covering, side wall, window, awning, appliances, and roofing materials.

In accordance with the Rule, THOR undertook efforts to determine whether the necessary Conflict Minerals in our products were sourced from the Democratic Republic of the Congo (the “DRC”) or an adjoining country. We designed our efforts in conformity with the internationally recognized due diligence framework in the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas2 (“OECD Due Diligence Guidance”) and related supplements.

 
1 

The term “conflict mineral” is defined in Section 1502(e)(4) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which added Section 13(p) to the Act (15 U.S.C. § 78m(p)), 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 or an adjoining country (collectively, the “Conflict Minerals”).


We also utilized multi-industry initiatives with the smelters and refiners of minerals who may provide those minerals to companies in THOR’s supply chain. THOR, as a purchaser of component parts, is many steps removed from the smelters and refiners that process minerals and ore. THOR does not purchase raw ore or unrefined Conflict Minerals and does not engage in business in the DRC or adjoining countries or purchase Conflict Minerals directly in those countries. As a result, THOR relies on its suppliers to provide origin information on Conflict Minerals contained in components or materials supplied to the Company. Similarly, our direct suppliers may be downstream purchasers and rely on their suppliers for such information.

The statements below are based on the due diligence activities performed to date and in good faith by THOR and are based on the infrastructure and information available at the time of this filing. There are factors that could affect the accuracy of these statements, which factors include, but are not limited to, incomplete supplier data or available smelter and refiner data, errors or omissions by suppliers or smelters and refiners, evolving definition and confirmation of smelters and refiners, incomplete information from industry or other third-party sources, continuing guidance regarding the Rule and Form SD, and other issues.

REASONABLE COUNTRY OF ORIGIN INQUIRY

THOR conducted a good faith reasonable country of origin inquiry (“RCOI”) to determine whether Conflict Minerals supplied to our Company originated in the DRC or an adjoining country or were from recycled or scrap sources, in accordance with Form SD and related guidance provided by the Securities and Exchange Commission (“SEC”). However, our ability to determine the origin and chain of custody of Conflict Minerals is limited. While certain of our suppliers were able to identify the countries of origin of the tin, tantalum, tungsten, and/or gold (“3TG”) included in the products that they sell to our subsidiaries, our due diligence efforts did not result in sufficient information to conclusively determine all of the countries of origin of the minerals in our products or to conclusively list relevant countries of origin. Based on our due diligence process and the information received, Annex I contains the list of the smelters and refiners of 3TG present in and necessary to the functionality of products (or components thereof) manufactured by THOR’s relevant subsidiaries in the year ended December 31, 2025 who were identified in the reports submitted by our suppliers.

THOR’s efforts include:

 

   

Collecting supplier contact information and products lists from each of its subsidiaries and inputting such information into a third-party service provider’s platform (“Platform”) once contact information was obtained from relevant suppliers.

 

   

Sending requests for information to suppliers, who were asked to register with the service provider.

 

   

Sending follow up requests to suppliers, that did not respond by the specified due date, to register with the service provider.

 

 
2 

OECD (2016), OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas: Third Edition, OECD Publishing,

https://www.oecd-ilibrary.org/governance/oecd-due-diligence-guidance-for-responsible-supply-chains-of-minerals-from -conflict-affected-and-high-risk-areas_9789264252479-en.

 

2


DUE DILIGENCE MEASURES PERFORMED BY THOR

THOR designed its overall Conflict Minerals program based on the five-step framework of the OECD Due Diligence Guidance, the Supplement on Tin, Tantalum, and Tungsten, and the Supplement on Gold.

Step 1: Establish Strong Company Management Systems

 

   

THOR established a Conflict Minerals Team in 2013 to support its Conflict Minerals compliance and Conflict Minerals Policy and educated internal team members about Conflict Minerals disclosure requirements. The Conflict Minerals Team consists of personnel from legal, finance (including purchasing), and information technology with the decision-making authority to manage the data collection, review, and reporting processes. The Conflict Minerals Team meets at least annually to review compliance status, strategy, performance metrics and other matters related to our Conflict Minerals program and reports to senior management annually. THOR has posted its Corporate Conflict Minerals Policy on our website at www.thorindustries.com.

 

   

THOR provided its Conflict Minerals Policy, educational materials and the disclosure requirements to our suppliers, as well as recommendations for developing, implementing, and documenting a Conflict Minerals compliance program.

 

   

THOR requires our suppliers to comply with our various policies and ethical matters including our Conflict Minerals Policy.

 

   

THOR engaged Conflict Minerals subject matter experts to assist with the due diligence and reporting process.

 

   

THOR maintains records relating to its Conflict Minerals program in accordance with the recommended record retention guidelines of five (5) years.

Step 2: Identify and Assess Risks in the Supply Chain

THOR engaged in a good-faith RCOI as described above to determine whether the necessary Conflict Minerals originated in the DRC or an adjoining country or were from recycled or scrap sources. With respect to the suppliers that indicated that their products contained Conflict Minerals that originated in the DRC or an adjoining country, THOR verified that the smelters and refiners identified by those suppliers are certified as conflict-free by the Conflict Free Smelter Program established by the Responsible Minerals Initiative (“RMI”). With respect to other suppliers, the Company is continuing the process of comparing the identified smelters and refiners with the RMI’s list of conflict-free smelters and refiners, beginning with the suppliers whose products the Company determined are most likely to contain Conflict Minerals.

Step 3: Design and Implement a Strategy to Respond to Identified Risks

As part of the risk mitigation process, the Platform compares the smelters/processors collected from vendors to the conflict-free smelter lists published by the RMI.

Step 4: Carry Out Independent Third-Party Audit of Supply Chain Due Diligence at Identified Points in the Supply Chain

THOR is a downstream manufacturer and is many steps removed from smelters and refiners who process minerals and ore. THOR does not purchase raw ore or unrefined Conflict Minerals. THOR supports the audits of smelters and refiners, but does not perform or direct audits of smelters and refiners within its supply chain and relies on its third-party service provider to verify the conflict-free status of smelters and refiners that source from the DRC or adjoining countries.

Step 5: Report on Supply Chain Due Diligence

This Conflict Minerals Report has been filed with the SEC and is publicly available on our website, http://ir.thorindustries.com. THOR’s Conflict Minerals Policy is also available to the public on our website, http://ir.thorindustries.com (in the “Governance Documents” section).

 

3


DUE DILIGENCE RESULTS

Through requesting our suppliers to complete the Conflict Minerals Reporting Template, we determined that seeking information about Conflict Minerals used by 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. Most of our supplier responses were provided at a company level. Many suppliers did not provide verifiable smelter or processing information or responded at a company-wide level which did not allow us to conclude that the Conflict Minerals were processed by any one particular facility. Based on the information provided by our suppliers, we could not identify how many of these smelters produced materials specifically used in our products. Therefore, it is possible that none of the materials from these smelters actually entered our supply chain.

STEPS TO IMPROVE DUE DILIGENCE

We continue to communicate our expectations and information requirements to our vendors. We also continue to monitor changes in circumstances that may impact relevant facts or our determinations. Over time, the amount of information available globally on the traceability and sourcing of covered ores has increased and improved our knowledge and we anticipate this will continue in the future. We continue to make inquiries of our vendors and undertake additional risk assessments when potentially relevant changes in facts or circumstances are identified. If we become aware of a vendor that needs improvement in its due diligence process, we intend generally to continue the trade relationship while that vendor improves its compliance program. We expect our vendors to take similar measures with their suppliers to ensure alignment throughout the supply chain.

In addition to the measures described above, the Company has and will continue to undertake to review and enhance the reporting process as necessary to improve suppliers’ ability to accurately respond. We will continue to seek to improve our own internal supplier identification to improve proficiency in the inquiry and reporting process. The Company has taken steps to ensure Conflict Minerals compliance is a part of the standard terms required in all supply arrangements.

 

4


Annex I

 

Smelter/Refiner Name

  

Metal

  

Country

AngloGold Ashanti Corrego do Sitio Mineracao    Gold    Brazil
Aida Chemical Industries Co., Ltd.    Gold    Japan
Agosi AG    Gold    Germany
Almalyk Mining and Metallurgical Complex (AMMC)    Gold    Uzbekistan
Argor-Heraeus S.A.    Gold    Switzerland
Asahi Pretec Corp.    Gold    Japan
Asaka Riken Co., Ltd.    Gold    Japan
Aurubis AG    Gold    Germany
Bangko Sentral ng Pilipinas (Central Bank of the Philippines)    Gold    Philippines
Boliden Ronnskar    Gold    Sweden
C. Hafner GmbH + Co. KG    Gold    Germany
CCR Refinery - Glencore Canada Corporation    Gold    Canada
Chimet S.p.A.    Gold    Italy
Chugai Mining    Gold    Japan
DSC (Do Sung Corporation)    Gold    Korea, Republic Of
Dowa    Gold    Japan
Eco-System Recycling Co., Ltd. East Plant    Gold    Japan
LT Metal Ltd.    Gold    Korea, Republic Of
Heimerle + Meule GmbH    Gold    Germany
Heraeus Metals Hong Kong Ltd.    Gold    China
Heraeus Germany GmbH Co. KG    Gold    Germany
Inner Mongolia Qiankun Gold and Silver Refinery Share Co., Ltd.    Gold    China
Ishifuku Metal Industry Co., Ltd.    Gold    Japan
Istanbul Gold Refinery    Gold    Turkey
Japan Mint    Gold    Japan
Jiangxi Copper Co., Ltd.    Gold    China
Asahi Refining USA Inc.    Gold    United States Of America
Asahi Refining Canada Ltd.    Gold    Canada
JX Nippon Mining & Metals Co., Ltd.    Gold    Japan
Kazzinc    Gold    Kazakhstan
Kennecott Utah Copper LLC    Gold    United States Of America
Kojima Chemicals Co., Ltd.    Gold    Japan
LS MnM Inc.    Gold    Korea, Republic Of
Materion    Gold    United States Of America
Matsuda Sangyo Co., Ltd.    Gold    Japan
Metalor Technologies (Suzhou) Ltd.    Gold    China
Metalor Technologies (Hong Kong) Ltd.    Gold    China
Metalor Technologies (Singapore) Pte., Ltd.    Gold    Singapore
Metalor Technologies S.A.    Gold    Switzerland

 

5


Metalor USA Refining Corporation    Gold    United States Of America
Metalurgica Met-Mex Penoles S.A. De C.V.    Gold    Mexico
Mitsubishi Materials Corporation    Gold    Japan
Mitsui Mining and Smelting Co., Ltd.    Gold    Japan
Nadir Metal Rafineri San. Ve Tic. A.S.    Gold    Turkey
Navoi Mining and Metallurgical Combinat    Gold    Uzbekistan
Nihon Material Co., Ltd.    Gold    Japan
Ohura Precious Metal Industry Co., Ltd.    Gold    Japan
MKS PAMP SA    Gold    Switzerland
PT Aneka Tambang (Persero) Tbk    Gold    Indonesia
PX Precinox S.A.    Gold    Switzerland
Rand Refinery (Pty) Ltd.    Gold    South Africa
Royal Canadian Mint    Gold    Canada
SEMPSA Joyeria Plateria S.A.    Gold    Spain
Sichuan Tianze Precious Metals Co., Ltd.    Gold    China
Solar Applied Materials Technology Corp.    Gold    Taiwan, Province Of China
Sumitomo Metal Mining Co., Ltd.    Gold    Japan
Tanaka Kikinzoku Kogyo K.K.    Gold    Japan
Tokuriki Honten Co., Ltd.    Gold    Japan
Umicore S.A. Business Unit Precious Metals Refining    Gold    Belgium
United Precious Metal Refining, Inc.    Gold    United States Of America
Valcambi S.A.    Gold    Switzerland
Western Australian Mint (T/a The Perth Mint)    Gold    Australia
Yamakin Co., Ltd.    Gold    Japan
Yokohama Metal Co., Ltd.    Gold    Japan
Zhongyuan Gold Smelter of Zhongjin Gold Corporation    Gold    China
SAFINA A.S.    Gold    Czechia
MMTC-PAMP India Pvt., Ltd.    Gold    India
KGHM Polska Miedz Spolka Akcyjna    Gold    Poland
T.C.A S.p.A    Gold    Italy
REMONDIS PMR B.V.    Gold    Netherlands
Korea Zinc Co., Ltd.    Gold    Korea, Republic Of
TOO Tau-Ken-Altyn    Gold    Kazakhstan
Abington Reldan Metals, LLC    Gold    United States Of America
Italpreziosi    Gold    Italy
WIELAND Edelmetalle GmbH    Gold    Germany
SungEel HiMetal Co., Ltd.    Gold    Korea, Republic Of
Planta Recuperadora de Metales SpA    Gold    Chile
NH Recytech Company    Gold    Korea, Republic Of
Eco-System Recycling Co., Ltd. North Plant    Gold    Japan
Eco-System Recycling Co., Ltd. West Plant    Gold    Japan
Metal Concentrators SA (Pty) Ltd.    Gold    South Africa
Shandong Zhaojin Gold & Silver Refinery Co., Ltd.    Gold    China

 

6


Shandong Gold Smelting Co., Ltd.    Gold    China
Gold Refinery of Zijin Mining Group Co., Ltd.    Gold    China
Ogussa Osterreichische Gold- und Silber-Scheideanstalt GmbH    Gold    Austria
Advanced Chemical Company    Gold    United States Of America
Bangalore Refinery    Gold    India
Gold by Gold Colombia    Gold    Colombia
Coimpa Industrial LTDA    Gold    Brazil
GG Refinery Ltd.    Gold    Tanzania, United Republic Of
Impala Platinum - Platinum Metals Refinery (PMR)    Gold    South Africa
Elite Industech Co., Ltd.    Gold    Taiwan, Province Of China
F&X Electro-Materials Ltd.    Tantalum    China
XIMEI RESOURCES (GUANGDONG) LIMITED    Tantalum    China
JiuJiang JinXin Nonferrous Metals Co., Ltd.    Tantalum    China
Jiujiang Tanbre Co., Ltd.    Tantalum    China
AMG Brasil    Tantalum    Brazil
Metallurgical Products India Pvt., Ltd.    Tantalum    India
Mineracao Taboca S.A.    Tantalum    Brazil
Mitsui Mining and Smelting Co., Ltd.    Tantalum    Japan
NPM Silmet AS    Tantalum    Estonia
Ningxia Orient Tantalum Industry Co., Ltd.    Tantalum    China
Yanling Jincheng Tantalum & Niobium Co., Ltd.    Tantalum    China
Taki Chemical Co., Ltd.    Tantalum    Japan
Telex Metals    Tantalum    United States Of America
Ulba Metallurgical Plant JSC    Tantalum    Kazakhstan
Hengyang King Xing Lifeng New Materials Co., Ltd.    Tantalum    China
D Block Metals, LLC    Tantalum    United States Of America
FIR Metals & Resource Ltd.    Tantalum    China
Jiujiang Zhongao Tantalum & Niobium Co., Ltd.    Tantalum    China
Jiangxi Dinghai Tantalum & Niobium Co., Ltd.    Tantalum    China
KEMET de Mexico    Tantalum    Mexico
TANIOBIS Co., Ltd.    Tantalum    Thailand
TANIOBIS GmbH    Tantalum    Germany
Materion Newton Inc.    Tantalum    United States Of America
TANIOBIS Japan Co., Ltd.    Tantalum    Japan
TANIOBIS Smelting GmbH & Co. KG    Tantalum    Germany
Global Advanced Metals Boyertown    Tantalum    United States Of America
Global Advanced Metals Aizu    Tantalum    Japan
Resind Industria e Comercio Ltda.    Tantalum    Brazil
Jiangxi Tuohong New Raw Material    Tantalum    China
XinXing HaoRong Electronic Material Co., Ltd.    Tantalum    China
Guangdong Rising Rare Metals-EO Materials Ltd.    Tantalum    China
PowerX Ltd.    Tantalum    Rwanda
China Tin Group Co., Ltd.    Tin    China

 

7


Metallic Resources, Inc.    Tin    United States Of America
Mineracao Taboca S.A.    Tin    Brazil
Minsur    Tin    Peru
PT Timah Tbk Mentok    Tin    Indonesia
Thaisarco    Tin    Thailand
Chenzhou Yunxiang Mining and Metallurgy Co., Ltd.    Tin    China
Alpha Assembly Solutions Inc    Tin    United States Of America
Dowa    Tin    Japan
EM Vinto    Tin    Bolivia (Plurinational State Of)
Estanho de Rondonia S.A.    Tin    Brazil
Fenix Metals    Tin    Poland
Gejiu Non-Ferrous Metal Processing Co., Ltd.    Tin    China
Mitsubishi Materials Corporation    Tin    Japan
O.M. Manufacturing (Thailand) Co., Ltd.    Tin    Thailand
Operaciones Metalurgicas S.A.    Tin    Bolivia (Plurinational State Of)
PT Mitra Stania Prima    Tin    Indonesia
PT Prima Timah Utama    Tin    Indonesia
PT Timah Tbk Kundur    Tin    Indonesia
Rui Da Hung    Tin    Taiwan, Province Of China
White Solder Metalurgia e Mineracao Ltda.    Tin    Brazil
Tin Smelting Branch of Yunnan Tin Co., Ltd.    Tin    China
Magnu’s Minerais Metais e Ligas Ltda.    Tin    Brazil
PT ATD Makmur Mandiri Jaya    Tin    Indonesia
O.M. Manufacturing Philippines, Inc.    Tin    Philippines
PT Cipta Persada Mulia    Tin    Indonesia
Resind Industria e Comercio Ltda.    Tin    Brazil
Aurubis Beerse    Tin    Belgium
Aurubis Berango    Tin    Spain
Guangdong Hanhe Non-Ferrous Metal Co., Ltd.    Tin    China
Chifeng Dajingzi Tin Industry Co., Ltd.    Tin    China
Tin Technology & Refining    Tin    United States Of America
Luna Smelter, Ltd.    Tin    Rwanda
PT Mitra Sukses Globalindo    Tin    Indonesia
CRM Synergies    Tin    Spain
PT Putera Sarana Shakti (PT PSS)    Tin    Indonesia
CV Ayi Jaya    Tin    Indonesia
PT Rajehan Ariq    Tin    Indonesia
Fabrica Auricchio Industria e Comercio Ltda.    Tin    Brazil
PT Premium Tin Indonesia    Tin    Indonesia
Super Ligas    Tin    Brazil
PT Bangka Prima Tin    Tin    Indonesia
Yunnan Yunfan Non-ferrous Metals Co., Ltd.    Tin    China
Mining Minerals Resources SARL    Tin    Congo, Democratic Republic Of The

 

8


Takehara PVD Materials Plant / PVD Materials Division of MITSUI MINING & SMELTING CO., LTD.    Tin    Japan
Malaysia Smelting Corporation Berhad (Port Klang)    Tin    Malaysia
Woodcross Smelting Company Limited    Tin    Uganda
Global Advanced Metals Greenbushes Pty Ltd.    Tin    Australia
Dongguan Best Alloys Co., Ltd.    Tin    China
P Kay Metal, Inc    Tin    United States Of America
A.L.M.T. Corp.    Tungsten    Japan
Kennametal Huntsville    Tungsten    United States Of America
Guangdong Xianglu Tungsten Co., Ltd.    Tungsten    China
Chongyi Zhangyuan Tungsten Co., Ltd.    Tungsten    China
Global Tungsten & Powders LLC    Tungsten    United States Of America
Japan New Metals Co., Ltd.    Tungsten    Japan
Kennametal Fallon    Tungsten    United States Of America
Wolfram Bergbau und Hutten AG    Tungsten    Austria
Xiamen Tungsten Co., Ltd.    Tungsten    China
Jiangxi Yaosheng Tungsten Co., Ltd.    Tungsten    China
Jiangxi Xinsheng Tungsten Industry Co., Ltd.    Tungsten    China
Malipo Haiyu Tungsten Co., Ltd.    Tungsten    China
Xiamen Tungsten (H.C.) Co., Ltd.    Tungsten    China
Jiangxi Gan Bei Tungsten Co., Ltd.    Tungsten    China
Ganzhou Seadragon W & Mo Co., Ltd.    Tungsten    China
H.C. Starck Tungsten GmbH    Tungsten    Germany
TANIOBIS Smelting GmbH & Co. KG    Tungsten    Germany
Masan High-Tech Materials    Tungsten    Viet Nam
Jiangwu H.C. Starck Tungsten Products Co., Ltd.    Tungsten    China
Niagara Refining LLC    Tungsten    United States Of America
China Molybdenum Tungsten Co., Ltd.    Tungsten    China
Lianyou Metals Co., Ltd.    Tungsten    Taiwan, Province Of China
Cronimet Brasil Ltda    Tungsten    Brazil
Asia Tungsten Products Vietnam Ltd.    Tungsten    Viet Nam
Hubei Green Tungsten Co., Ltd.    Tungsten    China
Tungsten Vietnam Joint Stock Company    Tungsten    Viet Nam
Lianyou Resources Co., Ltd.    Tungsten    Taiwan, Province Of China
Shinwon Tungsten (Fujian Shanghang) Co., Ltd.    Tungsten    China
KENEE MINING VIETNAM COMPANY LIMITED    Tungsten    Viet Nam
Philippine Bonway Manufacturing Industrial Corporation    Tungsten    Philippines
Jing Yuan Tungsten Technology Co., Ltd.    Tungsten    Taiwan, Province Of China
S.P.T. spol.s r.o.    Tungsten    Czechia
Tungamoy Metals Inc.    Tungsten    Korea, Republic Of

 

9