EX-1.01 2 a2015conflictmineralsex-101.htm EXHIBIT 1.01 2015.conflict.minerals.EX-1.01

Exhibit 1.01














CONFLICT MINERALS REPORT
Pursuant to Rule 13P-1 under the Securities Exchange Act (17 CFR 240.13P-1)

FOR THE REPORTING PERIOD FROM
JANUARY 1, 2014, TO DECEMBER 31, 2014




I. INTRODUCTION

This Conflict Minerals Report for Intuitive Surgical, Inc. (“Intuitive,” “we,” or “us”) for the current reporting period from January 1, 2014, to December 31, 2014 (the “Reporting Period”), is presented to comply with Rule 13p-1 under the Securities Exchange Act of 1934 (17 CFR PARTS 240 and 249b) (the “Rule”).
Conflict Minerals Evaluation and Reporting
“Conflict Minerals” (defined in the Rule as columbite-tatalite (coltan), cassiterite, gold, wolframite, or their derivatives, which are limited to tantalum, tin, and tungsten) are necessary to the functionality or production of our da Vinci® Surgical Systems and instruments & accessories (collectively the “Covered Products”), which are subject to evaluation under the Rule. Accordingly, pursuant to the Rule, we conducted in good faith a reasonable country of origin inquiry (“RCOI”) and determined that the Conflict Minerals contained in components sourced to manufacture some of our Covered Products (i) may have originated in the Democratic Republic of the Congo (the "DRC") and the adjoining countries (the "Covered Countries") as defined in Item 1.01(d)(1) of Form SD and (ii) may not be from recycled or scrap sources. As a result, the Rule requires that we conduct due diligence that conforms to a(n) nationally or internationally recognized due diligence framework on the source and chain of custody of the Conflict Minerals included in our Covered Products.
We are committed to our efforts to sourcing materials from suppliers that share our values with regard to ethics, integrity, respect for human rights, and environmental responsibility. In support of the Rule, we expect our suppliers to establish their own due diligence program to ensure proper monitoring and reporting of the use of Conflict Minerals in their supply chains. We require that all of our suppliers in the supply chain comply with all applicable governmental laws, statutes, ordinances, rules, regulations, orders, and other requirements. It is our policy to reassess our relationship with any suppliers whose supply chain includes minerals from a conflict source, which directly or indirectly benefit or finance armed groups in the Covered Countries.
II. DUE DILIGENCE
Design of Due Diligence Measures
Our Conflict Minerals Compliance Program (the “Compliance Program”) is modeled based on the “OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas, Second Edition” publication, which includes Supplements on Tin, Tantalum, Tungsten, and Gold (the “OECD Guidance”), issued by the Organization for Economic Co-operation and Development (the “OECD”) to include due diligence on the source and chain of custody of the Conflict Minerals contained in our Covered Products and address the following five key objectives:

Establish a Corporate Program for Conflict Minerals
Identify and Assess Risk in the Supply Chain
Design a Strategy to Respond to Identified Risk in the Supply Chain
Fulfill Conflict Minerals Independent Audit and Reporting Obligations
Maintain a Due Diligence Program: Internal Review and Monitoring

Due to practical difficulties associated with supply chain complexities, the OECD Guidance advises that downstream companies exercise due diligence by establishing internal controls over their immediate suppliers. We are a downstream company, and although we have relationships with our first-tier (direct) suppliers, we do not have direct relationships with parties such as sub-tier (indirect) suppliers or the associated smelters and refiners who have knowledge of the sources of raw minerals. As the components included in our Covered Products are manufactured by sub-tier suppliers, we engaged a supply chain management firm to assist us in the identification of Conflict Minerals used in components manufactured by sub-tier suppliers that we could not identify on our own. In addition, we utilized the supply chain management firm to assist us with the collection of data needed for our country of origin inquiry and the due diligence process from first-tier and sub-tier suppliers.


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To collect data from our suppliers, we utilized supplier-completed EICC-GeSI Conflict Minerals Reporting Templates (“EICC-GeSI Templates”) that request suppliers identify the facilities used to process the Conflict Minerals included in our Covered Products and their countries of origin. Suppliers define the scope of their representations in the EICC-GeSI Template at their own discretion and, as a result, the information provided to us may be provided at a Company Level, Division Level, Product Category Level, or at a Product Level. As a downstream purchaser of components that contain Conflict Minerals, our due diligence measures can provide only reasonable, not absolute, assurance regarding the source and chain of custody on Conflict Minerals.

We worked in good faith to obtain complete and accurate Conflict Minerals information from our suppliers. We evaluated the information collected, including subjecting the results to a quality review. If discrepancies, errors, or omissions were identified, the response for that supplier was deemed incomplete and was returned for correction by the supplier. When suppliers failed to return a complete EICC-GeSI Template, we conducted follow-up inquiries.
Due Diligence Measures Performed
We instituted a cross-functional Conflict Minerals Steering Committee to oversee our Compliance Program, with senior management support including representatives from Global Supply Chain Operations, Corporate Finance, Compliance, Legal, and Regulatory Compliance.

The Conflict Minerals Steering Committee created a task force with representation from the relevant functions to design, implement, and execute the Compliance Program. The task force formally documented the Compliance Program, as approved by senior management, to ensure compliance with the Rule, including performance of the following due diligence measures:

We published our Conflict Minerals policy on our website at www.intuitivesurgical.com.
We authored a Supplier Manual document that is made available for all candidates and existing first-tier suppliers that support our manufacturing operations.  Included in this manual is a provision that describes our expectations with respect to suppliers' involvement and participation to support our Compliance Program.
We incorporated specific language in our standard quality agreement for first-tier suppliers that requires participation in our Compliance Program.
We developed a Conflict Minerals Supplier Risk Assessment program (the “Risk Assessment”) using quantitative and qualitative factors to identify our first-tier suppliers that have not met (or are less likely to meet) our expectations to support our Compliance Program and Conflict Minerals policy by, for example, providing insufficient or no response to requests for information, failing to established their own due diligence program, or not complying with the Rule.
We reviewed the aggregated data collected from our suppliers using the EICC-GeSI Templates to assess the data and check for the presence of any “red flags” that may indicate that the supplier disclosure may not be reliable, including but not limited to:
The supplier’s response was not submitted utilizing the EICC-GeSI Template.
The supplier has indicated that Conflict Minerals are present in their products, but does not provide smelter (or refiner) or country of origin data.
The supplier reported that the smelters or refiners are unknown or does not list them, but confirms that none of the minerals originate from the Covered Countries.
The supplier has identified the country of origin information, but does not identify a smelter or refiner.
The supplier identified a smelter or refiner which does not actually process the identified conflict mineral.
We designed and performed additional due diligence procedures for suppliers deemed to be “high risk” (based on our Risk Assessment) and those with responses identified to have “red flags”.
Because we utilized a supply chain management firm in performance of our Compliance Program, we performed additional procedures to evaluate the accuracy and completeness of the data collected on our behalf,

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including evaluating some of the supply chain management firm’s processes and controls over Conflict Minerals data.
In evaluating the smelters and refiners identified in the EICC-GeSI Templates as having sourced Conflict Minerals from the Covered Countries, we compared our listing to publicly published data from the Conflict-Free Smelter Program (the “CFSP”) listing of validated smelters and refiners, which is maintained by the Conflict-Free Sourcing Initiative (“CFSI”). The CFSP relies on independent private sector auditors to audit the source, including mines of origin and chain of custody of the Conflict Minerals used by smelters and refiners that agree to participate in the CFSP. The smelters and refiners that are found to be CFSP compliant are those for which the independent auditor has verified that the smelter’s (or refiner’s) Conflict Minerals have not originated from mines in the Covered Countries that directly or indirectly finance or benefit armed groups.
Future Due Diligence Measures for Risk Mitigation
As Conflict Minerals data is obtained through a self-reporting effort, awareness and training of suppliers in our supply chain is necessary to ensure that reliable and detailed information is provided. We intend to continue to work with our suppliers to improve the effectiveness of our due diligence procedures described above and to continue to emphasize the importance of compliance with our conflict minerals reporting expectations.
III. CONCLUSIONS
Product Description
Our Covered Products include our manufactured products, classified in two major categories: (1) da Vinci Surgical Systems and (2) instruments & accessories. The da Vinci Surgical Systems and instruments & accessories contain Conflict Minerals that are necessary to the functionality or production to these products.
da Vinci Surgical Systems
Through December 31, 2014, we have commercialized four generations of da Vinci Surgical System-the da Vinci® Xi™ Surgical System, the da Vinci SiTM Surgical System, the da Vinci S® Surgical System, and the standard da Vinci Surgical System. Our da Vinci Surgical Systems products include the following: Surgeon’s Console, Patient-Side Cart, 3-D Vision System, da Vinci Skills Simulator, and FireflyTM Fluorescence Imaging.
Instruments & Accessories
We sell various instruments and accessory products which are used in conjunction with the da Vinci Surgical System as surgical procedures are performed. These products include: EndoWrist® Instruments, da Vinci Single-Site, EndoWrist OneTM Vessel Sealer, EndoWrist Stapler 45 Instrument, sterile drapes, vision products (such as replacement 3-D stereo endoscopes), camera heads, light guides, and other items that facilitate use of the system.
For a full description of our product offerings, refer to our Annual Report on Form 10-K for the year ended December 31, 2014.
Inherent Limitations on Due Diligence Measures
As a downstream purchaser of products which contain Conflict Minerals, our Due Diligence procedures can provide only reasonable, not absolute, assurance regarding the source and chain of custody of the necessary Conflict Minerals. Our Due Diligence process is based on the necessity of seeking data from our direct and indirect suppliers. We also rely, to a large extent, on information collected and provided by independent third party audit programs. Such sources of information may yield inaccurate or incomplete information, and may be subject to misrepresentations or fraud.
Results of Due Diligence
We have determined that each of the four Conflict Minerals are present in our supply chain as part of components included in our Covered Products based on the data collected from complete EICC-GeSI Templates and our review of that information.
Based on the data collected from our suppliers, we have concluded that most of the Conflict Minerals included in our

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Covered Products have been sourced from outside the Covered Countries. However, for some of the Conflict Minerals contained in our Covered Products, we have insufficient information from suppliers and other sources regarding the smelters and refiners that processed the Conflict Minerals and the related name and location of the mines used to conclude whether they originated in the Covered Countries and, if they did, whether those Conflict Minerals were from recycled or scrap sources, or other conflict free sources.
Facilities Used to Process the Necessary Conflict Minerals and Countries of Origin
As reported by our suppliers in the EICC-GeSI Templates, the tables below aggregate (i) the facilities identified to be used to process Conflict Minerals that are necessary to the functionality or production of the Covered Products and (ii) to the extent known, the identified countries of origin of the Conflict Minerals processed at those facilities.



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Table 1: Facilities Processing Conflict Mineral - Tin
Facilities Identified by our Suppliers with Conflict-Free Status - Unknown
China Rare Metal Materials Company
O.M. Manufacturing (Thailand) Co., Ltd.
PT Panca Mega Persada
China Tin Group Co., Ltd.
O.M. Manufacturing Philippines, Inc.
PT Pelat Timah Nusantara Tbk
CNMC (Guangxi) PGMA Co. Ltd.
PT Alam Lestari Kencana
PT Seirama Tin investment
Cooper Santa
PT Artha Cipta Langgeng
PT Sumber Jaya Indah
CV Gita Pesona
PT Babel Surya Alam Lestari
PT Supra Sukses Trinusa
CV JusTindo
PT Bangka Kudai Tin
PT Tinindo Inter Nusa
CV Makmur Jaya
PT Belitung Industri Sejahtera
PT Tommy Utama
CV Nurjanah
PT BilliTin Makmur Lestari
PT Yinchendo Mining Industry
CV Serumpun Sebalai
PT Fang Di MulTindo
Rui Da Hung
Estanho de Rondônia S.A.
PT Hanjaya Perkasa Metals
Soft Metais, Ltda.
Fenix Metals
PT HP Metals Indonesia
Yunnan Chengfeng Non-ferrous Metals Co.,Ltd.
Gejiu Zi-Li
PT Inti Stania Prima
Kai Unita Trade Limited Liability Company
Heraeus Precious Metals GmbH & Co. KG
PT Karimun Mining
Linwu Xianggui Smelter Co.
Huichang Jinshunda Tin Co. Ltd
PT Koba Tin
 
Jiangxi Nanshan
PT Mitra Stania Prima
 
Facilities Identified by our Suppliers with Conflict-Free Status - CFSP Compliant
Alpha
Minsur
PT Eunindo Usaha Mandiri
CV United Smelting
Mitsubishi Materials Corporation
PT Prima Timah Utama
Dowa
OMSA
PT Refined Bangka Tin
EM Vinto
PT ATD Makmur Mandiri Jaya
PT Sariwiguna Binasentosa
Gejiu Non-Ferrous Metal Processing Co. Ltd.
PT Babel Inti Perkasa
PT Stanindo Inti Perkasa
Magnu's Minerais Metais e Ligas LTDA
PT Bangka Putra Karya
PT Tambang Timah
Malaysia Smelting Corporation (MSC)
PT Bangka Timah Utama Sejahtera
PT Timah (Persero), Tbk
Melt Metais e Ligas S/A
PT Bangka Tin Industry
Thaisarco
Metallo Chimique
PT Bukit Timah
White Solder Metalurgia e Mineração Ltda.
Mineração Taboca S.A.
PT DS Jaya Abadi
Yunnan Tin Company, Ltd.
PT Seirama Tin investment
 
 
Suppliers reported an additional 338 potential entities that we were unable to confirm to be actual entities or facilities used to process tin.
Countries of Origin (Source of Conflict Minerals) Identified by our Suppliers*
Brazil, Burundi, Chile, China, Congo, Indonesia, Japan, Malaysia, Mexico, Nigeria, Philippines, Poland, Rwanda, Unidentified
*Listed countries of origin do not include conflict minerals processed by CFSP Compliant Facilities or facilities not confirmed to be facilities used to process tin.

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Table 2: Facilities Processing Conflict Mineral - Tantalum
Facilities Identified by our Suppliers with “Conflict-Free Status - Unknown”
King-Tan Tantalum Industry Ltd
Shanghai Jiangxi Metals Co. Ltd
 
Facilities Identified by our Suppliers with “Conflict-Free Status - CFSP Compliant”
Changsha South Tantalum Niobium Co., Ltd.
H.C. Starck Ltd.
Molycorp Silmet A.S.
Conghua Tantalum and Niobium Smeltry
H.C. Starck Smelting GmbH & Co.KG
Ningxia Orient Tantalum Industry Co., Ltd.
Duoluoshan
Hengyang King Xing Lifeng New Materials Co., Ltd.
Plansee SE Liezen
Exotech Inc.
Hi-Temp
Plansee SE Reutte
F&X Electro-Materials Ltd.
JiuJiang JinXin Nonferrous Metals Co., Ltd.
QuantumClean
Global Advanced Metals Boyertown
Jiujiang Tanbre Co., Ltd.
RFH Tantalum Smeltry Co., Ltd
Global Advanced Metals Aizu
Jiujiang Zhongao Tantalum & Niobium Co, Ltd
Solikamsk Magnesium Works OAO
Guangdong Zhiyuan New Material Co., Ltd.
KEMET Blue Metals
Taki Chemicals
H.C. Starck Co., Ltd.
KEMET Blue Powder
Telex Metals
H.C. Starck GmbH Goslar
LSM Brasil S.A.
UlbaMetallurgical Plan JSC
H.C. Starck GmbH Laufenburg
Metallurgical Products India (Pvt.) Ltd.
Yichun Jin Yang Rare Metal Co., Ltd.
H.C. Starck Hermsdorf GmbH
Mineração Taboca S.A.
Zhuzhou Cement Carbide
H.C. Starck Inc.
Mitsui Mining & Smelting
 
Suppliers reported an additional 24 potential entities that we were unable to confirm to be actual entities or facilities used to process tantalum.
Countries of Origin (Source of Conflict Minerals) Identified by our Suppliers*
Unidentified
*Listed countries of origin do not include conflict minerals processed by CFSP Compliant Facilities or facilities not confirmed to be facilities used to process tantalum.

Table 3: Facilities Processing Conflict Mineral - Gold
Facilities Identified by our Suppliers with “Conflict-Free Status - Unknown”
Advanced Chemical Company
Gansu Seemine Material Hi-Tech Co Ltd
Penglai Penggang Gold Industry Co Ltd
Aida Chemical Industries Co. Ltd.
Guangdong Jinding Gold Limited
Prioksky Plant of Non-Ferrous Metals
Almalyk Mining and Metallurgical Complex (AMMC)
Hangzhou Fuchunjiang Smelting Co., Ltd.
Sabin Metal Corp.
Asaka Riken Co Ltd
Hunan Chenzhou Mining Group Co., Ltd.
Samduck Precious Metals
Bangko Sentral ng Pilipinas (Central Bank of the Philippines)
Hwasung CJ Co. Ltd
SAMWON METALS Corp.
Bauer Walser AG
Inner Mongolia Qiankun Gold and Silver Refinery Share Company Limited
So Accurate Group, Inc.
Caridad
Jiangxi Copper Company Limited
SOE Shyolkovsky Factory of Secondary Precious Metals
Cendres + Métaux SA
JSC Uralelectromed
Suzhou Xingrui Noble
China National Gold Group Corporation
Korea Metal Co. Ltd
The Great Wall Gold and Silver Refinery of China
Chugai Mining
Kyrgyzaltyn JSC
Tongling nonferrous Metals Group Co.,Ltd
Colt Refining
Lingbao Gold Company Limited
Torecom

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Daejin Indus Co. Ltd
Lingbao Jinyuan Tonghui Refinery Co. Ltd.
Yamamoto Precious Metal Co., LTD.
Daye Non-Ferrous Metals Mining Ltd.
Luoyang Zijin Yinhui Metal Smelt Co Ltd
Yokohama Metal Co Ltd
Do Sung Corporation
Moscow Special Alloys Processing Plant
Yunnan Copper Industry Co Ltd
Doduco
Navoi Mining and Metallurgical Combinat
Zhongyuan Gold Smelter of Zhongjin Gold Corporation
FSE Novosibirsk Refinery
OJSC Kolyma Refinery
Zijin Mining Group Co. Ltd
Facilities Identified by our Suppliers with “Conflict-Free Status - CFSP Compliant”
Allgemeine Gold-und Silberscheideanstalt A.G.
JX Nippon Mining & Metals Co., Ltd.
PT Aneka Tambang (Persero) Tbk
AngloGold Ashanti Córrego do Sítio Minerção
Kazzinc Ltd
PX Précinox SA
Argor-Heraeus SA
Kennecott Utah Copper LLC
Rand Refinery (Pty) Ltd
Asahi Pretec Corporation
Kojima Chemicals Co., Ltd
Royal Canadian Mint
Atasay Kuyumculuk Sanayi Ve Ticaret A.S.
L' azurde Company For Jewelry
Schone Edelmetaal
Aurubis AG
LS-NIKKO Copper Inc.
SEMPSA Joyería Platería SA
Boliden AB
Materion
Shandong Zhaojin Gold & Silver Refinery Co. Ltd
C. Hafner GmbH + Co. KG
Matsuda Sangyo Co., Ltd.
Solar Applied Materials Technology Corp.
CCR Refinery - Glencore Canada Corporation
Metalor Technologies (Hong Kong) Ltd
Sumitomo Metal Mining Co., Ltd.
Chimet S.p.A.
Metalor Technologies (Singapore) Pte. Ltd.
Tanaka Kikinzoku Kogyo K.K.
Dowa
Metalor Technologies SA
The Refinery of Shandong Gold Mining Co. Ltd
Eco-System Recycling Co., Ltd.
Metalor USA Refining Corporation
Tokuriki Honten Co., Ltd
Heimerle + Meule GmbH
Met-Mex Peñoles, S.A.
Umicore Brasil Ltda
Heraeus Ltd. Hong Kong
Mitsubishi Materials Corporation
Umicore Precious Metals Thailand
Heraeus Precious Metals GmbH & Co. KG
Mitsui Mining and Smelting Co., Ltd.
Umicore SA Business Unit Precious Metals Refining
Ishifuku Metal Industry Co., Ltd.
Nihon Material Co. LTD
United Precious Metal Refining, Inc.
Istanbul Gold Refinery
Ohio Precious Metals, LLC
Valcambi SA
Japan Mint
Ohura Precious Metal Industry Co., Ltd
Western Australian Mint trading as The Perth Mint
Johnson Matthey Inc.
OJSC “The Gulidov Krasnoyarsk Non-Ferrous Metals Plant” (OJSC Krastvetmet)
JSC Ekaterinburg Non-Ferrous Metal Processing Plant
Johnson Matthey Ltd.
PAMP SA
 
Suppliers reported an additional 153 potential entities that we were unable to confirm to be actual entities or facilities used to process gold.
Countries of Origin (Source of Conflict Minerals) Identified by our Suppliers*
Bolivia, Brazil, China, Japan, Unidentified
*Listed countries of origin do not include conflict minerals processed by CFSP Compliant Facilities or facilities not confirmed to be facilities used to process gold.

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Table 4: Facilities Processing Conflict Mineral - Tungsten
Facilities Identified by our Suppliers with “Conflict-Free Status - Unknown”
A.L.M.T. Corp.
H.C. Starck GmbH
Kennametal Fallon
Chenzhou Diamond Tungsten Products Co., Ltd.
H.C. Starck Smelting GmbH & Co.KG
Kennametal Huntsville
Chongyi Zhangyuan Tungsten Co., Ltd.
Hunan Chenzhou Mining Group Co., Ltd.
Nui Phao H.C. Starck Tungsten Chemicals Manufacturing LLC
Dayu Weiliang Tungsten Co., Ltd.
Jiangxi Minmetals Gao'an Non-ferrous Metals Co., Ltd.
Tejing (Vietnam) Tungsten Co., Ltd.
Fujian Jinxin Tungsten Co., Ltd.
Jiangxi Richsea New Materials Co., Ltd.
Wolfram Bergbau und Hütten AG
Ganxian Shirui New Material Co., Ltd.
Jiangxi Tonggu Non-ferrous Metallurgical & Chemical Co., Ltd.
Wolfram Company CJSC
Ganzhou Non-ferrous Metals Smelting Co., Ltd.
Jiangxi Xinsheng Tungsten Industry Co., Ltd.
Xinhai Rendan Shaoguan Tungsten Co., Ltd.
Guangdong Xianglu Tungsten Co., Ltd.
Jiangxi Yaosheng Tungsten Co., Ltd.
 
Facilities Identified by our Suppliers with “Conflict-Free Status - CFSP Compliant”
Ganzhou Huaxing Tungsten Products Co., Ltd.
Japan New Metals Co., Ltd.
Xiamen Tungsten (H.C.) Co., Ltd.
Ganzhou Jiangwu Ferrotungsten Co., Ltd.
Jiangxi Gan Bei Tungsten Co., Ltd.
Xiamen Tungsten Co., Ltd.
Ganzhou Seadragon W & Mo Co., Ltd.
Malipo Haiyu Tungsten Co., Ltd.
Zhuzhou Cement Carbide
Global Tungsten & Powders Corp.
Metallo Chimique
 
Hunan Chunchang Nonferrous Metals Co., Ltd.

Vietnam Youngsun Tungsten Industry Co., Ltd
 
Suppliers reported an additional 67 potential entities that we were unable to confirm to be actual entities or facilities used to process tungsten.
Countries of Origin (Source of Conflict Minerals) Identified by our Suppliers*
Australia, Bolivia, Canada, China, Germany, Japan, Portugal, Russia, Spain, United States, Vietnam, Unidentified
*Listed countries of origin do not include conflict minerals processed by CFSP Compliant Facilities or facilities not confirmed to be facilities used to process tungsten.
Efforts to Determine the Mine or Location of Origin with the Greatest Possible Specificity
As part of our due diligence process, for those suppliers whose products were not found to be DRC conflict free, we took additional steps in an effort to determine the mine or location of origin which included the follow-up procedures and the Risk Assessment program, described above.
Based on the information collected and evaluated from our suppliers in the EICC-GeSI Templates, we determined that the data was generally insufficient to identify the mine name or specific location of origin for those Conflict Minerals which may have been sourced from the Covered Countries. The EICC-GeSI Templates state that the smelter or refiner fields are mandatory, however specific mine data is not. As such, suppliers have provided less information in these fields, and in some instances not provided the data or identified the information as “confidential,” “trade secret,” or similar. Therefore, we have not always received adequate information to identify the applicable sources of such Conflict Minerals that may have directly or indirectly financed or benefited armed groups.
Additional Risk Factors
The statements above are based on the RCOI process and due diligence performed in good faith by Intuitive. These statements are based on the infrastructure and information available at the time the RCOI process and due diligence process were performed. As noted above, a number of factors could introduce errors or otherwise affect our analysis and the disclosure provided herein.

These factors include, but are not limited to, gaps in product or product content information, gaps in supplier data, gaps in smelter data, errors or omissions by or of suppliers, errors or omissions of smelters, gaps in supplier education and knowledge, lack of timeliness of data, public information not discovered during a reasonable search, errors in public

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data, language barriers and translation, supplier and smelter unfamiliarity with the protocol, oversights or errors in conflict free smelter audits, materials sourced from the Covered Countries being declared secondary materials, certification programs that are not equally advanced for all industry segments and metals, and smuggling of Conflict Minerals to countries outside of the Covered Countries.

Forward Looking Statements
This report contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements relate to expectations concerning matters that are not historical facts. Words such as “estimates,” “projects,” “believes,” “anticipates,” “plans,” “expects,” “intends,” “may,” “will,” “could,” “should,” “would,” “targeted” and similar words and expressions are intended to identify forward-looking statements. These include statements based on current expectations, estimates, forecasts and projections about the economies and markets in which we operate and our beliefs and assumptions regarding these economies and markets, as well as our actions with respect to compliance with the Rule. These forward-looking statements should be considered in light of various important factors, including the following: changes to regulations and requirements for assessing and reporting Conflict Minerals; litigation related to regulations and requirements for Conflict Minerals; and adverse publicity regarding Intuitive. Readers are cautioned not to place undue reliance on these forward-looking statements, which are based on current expectation and are subject to risks, uncertainties, and assumptions that are difficult to predict, including those risk factors under the heading “Risk Factors” in our report on Form 10-K for the year ended December 31, 2014, as updated from time to time by our quarterly reports on Form 10-Q and our other filings with the Securities and Exchange Commission. Our actual results may differ materially and adversely from those expressed in any forward-looking statements. We undertake no obligation to publicly update or release any revisions to these forward-looking statements, except as required by law.


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