# EDGAR Filing Document

**Accession Number:** 0000027419
**File Stem:** 0001104659-25-055475
**Filing Date:** 2025-6
**Character Count:** 36617
**Document Hash:** 77c4775f7f92e379b6418a2fed96218c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-055475.hdr.sgml**: 20250602

**ACCESSION NUMBER**: 0001104659-25-055475

**CONFORMED SUBMISSION TYPE**: SD

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20250602

**DATE AS OF CHANGE**: 20250602

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TARGET CORP
- **CENTRAL INDEX KEY:** 0000027419
- **STANDARD INDUSTRIAL CLASSIFICATION:** RETAIL-VARIETY STORES [5331]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 410215170
- **STATE OF INCORPORATION:** MN
- **FISCAL YEAR END:** 0201

**FILING VALUES:**
- **FORM TYPE:** SD
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-06049
- **FILM NUMBER:** 251015435

**BUSINESS ADDRESS:**
- **STREET 1:** 1000 NICOLLET MALL
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55403
- **BUSINESS PHONE:** 6123046073

**MAIL ADDRESS:**
- **STREET 1:** 1000 NICOLLET MALL
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55403

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DAYTON HUDSON CORP
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DAYTON CORP
- **DATE OF NAME CHANGE:** 19690728

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

------

**Form SD**

------

**SPECIALIZED DISCLOSURE REPORT**

**TARGET CORPORATION**

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Minnesota** | **1-6049** | **41-0215170** |
| (State or other jurisdiction<br> of incorporation or organization) | (Commission<br> File Number) | (I.R.S. Employer<br> Identification No.) |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **1000 Nicollet Mall, Minneapolis, Minnesota** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**55403** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Address of principal executive offices) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Zip code) |

---

**Anthony Heredia** **, Senior Vice President, Compliance and Ethics**

**(612) 304-6073**

(Name and telephone number, including area code,

of the person to contact in connection with this report.)

Check the appropriate box below to indicate the rule pursuant to which this Form is being submitted, and provide the period to which the information in this Form applies:

x Rule 13p-1 under the Securities Exchange Act (17 CFR 240.13p-1) for the reporting period from January 1 to December 31, 2024.

¨ Rule 13q-1 under the Securities Exchange Act (17 CFR 240.13q-1) for the fiscal year ended ______.

**Section 1 – Conflict Minerals Disclosure**

**Item 1.01 Conflict Minerals Disclosure and Report**

A Conflict Minerals Report is provided for 2024 as an Exhibit to this Form SD and is available at *https://corporate.target.com/sustainability-governance/responsible-supply-chains/human-rights/policies* under the heading "Conflict minerals policy." The information contained on Target's website is not incorporated by reference into this Form SD or its Conflict Minerals Report and should not be considered part of this Form SD or the Conflict Minerals Report.

**Item 1.02 Exhibit**

The Conflict Minerals Report described in Item 1.01 is filed as Exhibit 1.01 to this Form SD.

**Section 2 – Resource Extraction Issuer Disclosure**

**Item 2.01 Resource Extraction Issuer Disclosure and Report**

Not applicable.

**Section 3 – Exhibits**

**Item 3.01 Exhibits**

[Exhibit 1.01. Conflict Minerals Report for the calendar year ended December 31, 2024.](tm2516356d1_ex1-01.htm)

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the duly authorized undersigned.

---

| | | |
|:---|:---|:---|
| TARGET CORPORATION | TARGET CORPORATION |  |
| By: | /s/ Jim Lee | Date: June 2, 2025 |
|  | Name: Jim Lee |  |
|  | Title: Executive Vice President and Chief Financial Officer |  |

---

## Exhibit 1.01

**Exhibit 1.01**

![](tm2516356d1_ex1-01img001.jpg)

**Conflict Minerals Report**

**Filed June 2, 2025**

(For the calendar year ended December 31, 2024)

This Conflict Minerals Report is being filed by Target Corporation ("Target") pursuant to Rule 13p-1 under the Securities Exchange Act of 1934, as amended, and Form SD (collectively, the "Conflict Minerals Rule"). As used in this report, consistent with the Conflict Minerals Rule, "3TG" means columbite-tantalite (coltan), cassiterite, gold, wolframite, and the derivatives tantalum, tin, and tungsten.

Target is a retailer offering both everyday essentials and fashionable, differentiated merchandise at discounted prices. Target does not manufacture any of the products it sells. A significant portion of Target's sales is from national brand merchandise. Approximately one-third of Target's sales come from its owned and exclusive brand products. Target may be subject to the requirements of the Conflict Minerals Rule because of the degree of influence that it may exercise over the materials, parts, ingredients, or components of some of its owned and exclusive brand products that contain necessary 3TG.

Target does not do any direct business with any smelters or refiners of 3TG. As a "downstream" company (which means a company between the smelter or refiner and the consumer), Target must rely on its vendors to provide accurate, reliable information about 3TG in its supply chain. Target also believes that, in most cases, it is several or more vendor tiers removed from the smelters and refiners of 3TG used in its products. However, through the efforts described in this Conflict Minerals Report, Target is helping to address some of those difficulties presented to downstream companies and to encourage responsible sourcing in its supply chain.

**Target's Conflict Minerals Policy**

Target encourages its suppliers to source 3TG responsibly. Target's conflict minerals policy (the "Conflict Minerals Policy") is publicly available at *https://corporate.target.com/sustainability-governance/responsible-supply-chains/human-rights/policies*. The information contained on Target's website is not incorporated by reference into this Conflict Minerals Report or Target's Form SD and should not be considered part of this Conflict Minerals Report or the Form SD.

The Conflict Minerals Policy states that Target will not knowingly purchase or sell any owned or exclusive brand product that contains 3TG that finances armed conflict in the Democratic Republic of the Congo (the "DRC") or an adjoining country (together, the "Covered Countries").

The Conflict Minerals Policy also includes Target's expectation that each of the vendors with which it contracts to manufacture will:

&nbsp;&nbsp;&nbsp;&nbsp;1. Adopt
 a policy relating to 3TG sourcing that is consistent with Target's Conflict Minerals
 Policy and the Organisation for Economic Co-operation and Development's Due Diligence
 Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas:
 Third Edition, including the Supplement on Tin, Tantalum, and Tungsten and the Supplement
 on Gold (the "OECD Guidance");

&nbsp;&nbsp;&nbsp;&nbsp;2. Complete
 a Conflict Minerals Reporting Template (the "Reporting Template"), which is the
 standard form developed by the Responsible Minerals Initiative (the "RMI") for
 gathering information regarding 3TG usage and related sourcing procedures;

&nbsp;&nbsp;&nbsp;&nbsp;3. Exercise
 due diligence in seeking upstream information to support the vendor's responses to
 the questions in the Reporting Template;

&nbsp;&nbsp;&nbsp;&nbsp;4. Use
 smelters and refiners certified as "Conformant," but avoid a generalized embargo
 on smelters or refiners in the Covered Countries; and

&nbsp;&nbsp;&nbsp;&nbsp;5. Make
 available its due diligence in determining the source of its 3TG upon Target's request.

**Reasonable Country of Origin Inquiry**

For 2024, Target conducted a "reasonable country of origin inquiry" ("RCOI") within the meaning of the Conflict Minerals Rule. To the extent applicable, Target used the same processes and procedures for its RCOI as it used for its due diligence efforts (in particular, Steps 1 and 2 of the OECD Guidance, which are discussed below).

Target's outreach, which is described below, included the vendors of products within the owned and exclusive brand merchandise categories that were identified as possibly containing 3TG (the "Surveyed Vendors"; these product categories are the "Surveyed Product Categories").

**Due Diligence Measures**

Pursuant to the Conflict Minerals Rule, Target conducted due diligence for 2024 using the OECD Guidance framework, as discussed below.

&nbsp;&nbsp;&nbsp;&nbsp;**1.** **OECD Guidance Step 1. Establish Strong Company Management Systems** 

Target's Conflict Minerals Policy is summarized above.

Target's existing integrity hotline has been designated as a grievance mechanism for team members, vendors, and other interested parties to be able to report violations of the Conflict Minerals Policy. Reports may be made online at *www.TargetIntegrityHotline.com* or via telephone from the U.S. and Canada at 1-800-541-6838. Information on how to report a suspected integrity violation via telephone from outside of the U.S. and Canada is available at *www.TargetIntegrityHotline.com*.

The Target Compliance and Ethics ("TCE") team is responsible for managing Target's 3TG compliance program. TCE designates dedicated employees (referred to as "team members") to supervise the program. TCE receives support from other Target team members in Target's sourcing, legal, internal audit, external financial reporting, and communications functions. The leadership of TCE receives periodic updates regarding Target's 3TG compliance program. In

2024, training and other resources on the Conflict Minerals Rule and Target's 3TG compliance program were furnished to applicable TCE and other Target team members.

Target supplements its internal compliance team with outside professionals. Target uses a third party (the "Service Provider") to collect, aggregate, and assess data from Surveyed Vendors to complement Target's own internal management processes. Some of the activities described in this report, whether or not so indicated, are performed by the Service Provider on Target's behalf. Target also uses specialist outside legal counsel to assist with its compliance efforts.

Target maintains its 3TG-related records for a minimum of six years. Target has requested that the Service Provider store records in its possession on Target's behalf in accordance with Target's internal document retention policy. These records are stored electronically by the Service Provider.

Target communicated its sourcing expectations relating to 3TG to the Surveyed Vendors through direct communications, information posted on Target's vendor website, and online training. Target's item set-up system requests vendors to specify whether a vendor's items contain 3TG. Target's standard contract requires vendors to comply with the objectives of Target's Conflict Minerals Policy. 3TG training is made available to new vendors as part of Target's onboarding process and remains available to vendors after onboarding. Additionally, vendors are provided with an email address at Target where they can direct questions about Target's 3TG compliance program or Conflict Minerals Policy.

Target uses the Reporting Template for its Surveyed Vendor outreach. Through the Service Provider, Surveyed Vendors also are offered access to a vendor education portal and contacts for questions and guidance for responding to Target's information requests. The Service Provider also provides a multi-lingual help desk to assist Surveyed Vendors with questions on how to complete the Reporting Template.

In addition, vendors and factories that produce owned and exclusive brand products for Target (including the Surveyed Vendors) must participate in Target's broader social compliance program. The program requires those vendors to register applicable facilities with Target, indicating the locations of facilities. Additionally, each facility and vendor where owned and exclusive brand production takes place must authorize unannounced compliance audits. Through Target's broader social compliance program, Target has the right to conduct unannounced spot-checks of vendors who may have produced products that contain 3TG and have access to their documentation.

As part of Target's commitment to providing increased supply chain transparency, Target publishes a list of registered factories producing Target's owned brand products on a quarterly basis. The list includes factories that directly produce Target's owned brand products as well as apparel textile suppliers and wet processing facilities.

&nbsp;&nbsp;&nbsp;&nbsp;**2.** **OECD Guidance Step 2. Identify and Assess Risks in the Supply Chain** 

For 2024, through the Service Provider, Target sent requests to 567 Surveyed Vendors to complete a Reporting Template.

The Service Provider sent reminders to non-responsive Surveyed Vendors requesting that they complete the Reporting Template. The Service Provider notified Target if Surveyed Vendors continued to be non-responsive. TCE team members followed up with non-responsive Surveyed

Vendors and requested their participation. For 2024, Target received responses from 100% of its Surveyed Vendors.

The Service Provider reviewed the responses received from the Surveyed Vendors against specific quality control flags. Follow-up inquiries were made by the Service Provider to Surveyed Vendors to address incomplete responses, responses that indicated sources of 3TG that were unknown to the Service Provider, and other responses that trigger follow-up or escalation. TCE team members also reviewed the responses of certain Surveyed Vendors who indicated that their products did not contain 3TG, and related supply chain data from Target's internal systems, to confirm the accuracy of those responses. TCE followed up on the responses as it determined to be appropriate.

To the extent that a completed Reporting Template identified a smelter or refiner, the Service Provider examined whether the smelter or refiner was listed as Conformant. All the unique smelters and refiners identified by Surveyed Vendors that provided product level information were listed as Conformant by the RMI.

&nbsp;&nbsp;&nbsp;&nbsp;**3.** **OECD Guidance Step 3. Design and Implement a Strategy to Respond to Identified Risks** 

Summaries of Surveyed Vendor responses were provided to the leadership of TCE.

To the extent applicable, Target may suspend purchases of a product from a Surveyed Vendor until that vendor locates a source of 3TG verified as coming from outside the Covered Countries or from a Conformant smelter or refiner in a Covered Country, subject to a reasonable grace period to allow the existing smelter or refiner to become Conformant. TCE tracks violations of Target's policy by Surveyed Vendors and Target may stop doing business with Surveyed Vendors that are unwilling or unable to comply with Target's policy.

&nbsp;&nbsp;&nbsp;&nbsp;**4.** **OECD Guidance Step 4. Carry Out Independent Third-Party Audit of Supply Chain Due Diligence at Identified Points in the Supply Chain** 

In connection with its due diligence, Target uses and relies upon information made publicly available by the RMI concerning independent third-party audits of smelters and refiners to assess smelter and refiner due diligence and to determine whether the smelter or refiner is Conformant.

&nbsp;&nbsp;&nbsp;&nbsp;**5.** **OECD Guidance Step 5. Report on Supply Chain Due Diligence** 

Target files a Form SD and Conflict Minerals Report with the Securities and Exchange Commission*.*

**Potentially In-Scope Products; Identified Smelters and Refiners**

For 2024, the Surveyed Product Categories were: (1) Apparel and Home Textiles; (2) Electronics, Lighting, Kitchenware, and Small Appliances; (3) Home Improvement and Automotive; (4) Footwear and Luggage; (5) Accessories, Jewelry, and Watches; (6) Furniture, Home Décor, Bath, and Seasonal Merchandise; (7) Lawn and Garden; (8) Health and Beauty Products; (9) Toys, Sporting Goods, and Pet Supplies; and (10) Paper, Office, Stationery, and Scrapbooking. These categories are different than the six merchandise categories Target uses for purposes of its other periodic reports filed with the Securities and Exchange Commission that cover all the merchandise it sells.

Due to the challenges of tracing sources of 3TG in a multi-tier supply chain, Target was able to determine the smelters and refiners that processed only a portion of the 3TG contained in its potentially in-scope products for 2024. Target's findings about the source of necessary 3TG in products from Surveyed Vendors for 2024 were limited by the fact that many Surveyed Vendors reported only partial supply chain information, and most vendors did not provide information about the source of necessary 3TG on an individual product basis, instead providing aggregate information for all of their products. Accordingly, Target has not determined that any of its products were "DRC conflict free" within the meaning of the Conflict Minerals Rule. However, none of the necessary 3TG contained in the in-scope products was determined by Target to directly or indirectly finance or benefit armed groups in the Covered Countries.

In connection with Target's RCOI or due diligence, as applicable, the Surveyed Vendors that provided product level information identified 87 unique smelters and refiners. Additional information on these smelters and refiners is provided in Annex A of this Conflict Minerals Report.

**Future Risk Mitigation Efforts**

Target has taken or expects to take the following steps for 2025 to mitigate the risk that Target's necessary in-scope 3TG benefit armed groups:

&nbsp;&nbsp;&nbsp;&nbsp;1. Update
 its training to better educate vendors on the Conflict Minerals Rule and Target's
 related compliance program;

&nbsp;&nbsp;&nbsp;&nbsp;2. Further
 refine its scoping process, and its use of internal item-level data, and its review of supplier
 responses, to enhance accuracy and efficiency;

&nbsp;&nbsp;&nbsp;&nbsp;3. Enhance
 communication strategies and language to further emphasize the importance to vendors of providing
 product level information for 2025; and

&nbsp;&nbsp;&nbsp;&nbsp;4. Engage
 with vendors that provided incomplete responses for 2024 to encourage them to provide requested
 information for 2025.

All of the foregoing steps are in addition to the other steps taken for 2024.

**G. Forward-Looking Statements**

This Conflict Minerals Report contains forward-looking statements, which are based on Target's current assumptions and expectations. These statements are typically accompanied by the words "aim," "anticipate," "believe," "could," "expect," "may," "might," "seek," "will," "would," or similar words. The principal forward-looking statements in this report include Target's expected future risk mitigation efforts.

All such forward-looking statements are intended to enjoy the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, as amended. Although Target believes there is a reasonable basis for the forward-looking statements, Target's actual results could be materially different. The most important factors which could cause Target's actual results to differ from its forward-looking statements are (a) the continued implementation of satisfactory traceability and other compliance measures by Target's direct and indirect vendors on a timely basis or at all, (b) changes in the Conflict Minerals Rule and other political and regulatory developments relating to the sourcing of 3TG, whether in the Covered

Countries, the United States or elsewhere, and (c) those factors set forth in Target's description of risk factors in Item 1A of Target's Form 10-K for the fiscal year ended February 1, 2025, which should be read in conjunction with the forward-looking statements in this Conflict Minerals Report. Forward-looking statements speak only as of the date of this Conflict Minerals Report or, if earlier, as of the date they are made, and Target does not undertake any obligation to update any forward-looking statement.

**Annex A**

Capitalized terms used and not otherwise defined in this Annex have the meanings set forth in the accompanying Conflict Minerals Report.

**Smelters and Refiners**

In connection with Target's RCOI or due diligence, as applicable, the Surveyed Vendors that provided product level information identified the smelters and refiners listed below as having processed the 3TG contained in Target owned and exclusive brand products in 2024. Please see the notes that accompany the table for additional information concerning the data in the table.

**Smelter and Refiner Information**

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| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;<br> **Metal** | &nbsp;&nbsp;<br> **Official Smelter Name** | &nbsp;&nbsp;<br> **Smelter Country** | &nbsp;&nbsp;<br> **Certification Status** |
| &nbsp;&nbsp;Gold | &nbsp;&nbsp;Argor-Heraeus S.A. | &nbsp;&nbsp;SWITZERLAND | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Gold | &nbsp;&nbsp;ASAHI METALFINE, Inc. | &nbsp;&nbsp;JAPAN | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Gold | &nbsp;&nbsp;Asahi Refining Canada Ltd. | &nbsp;&nbsp;CANADA | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Gold | &nbsp;&nbsp;CCR Refinery - Glencore Canada Corporation | &nbsp;&nbsp;CANADA | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Gold | &nbsp;&nbsp;Heraeus Germany GmbH Co. KG | &nbsp;&nbsp;GERMANY | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Gold | &nbsp;&nbsp;Heraeus Metals Hong Kong Ltd. | &nbsp;&nbsp;CHINA | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Gold | &nbsp;&nbsp;Ishifuku Metal Industry Co., Ltd. | &nbsp;&nbsp;JAPAN | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Gold | &nbsp;&nbsp;Jiangxi Copper Co., Ltd. | &nbsp;&nbsp;CHINA | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Gold | &nbsp;&nbsp;JX Advanced Metals Corporation | &nbsp;&nbsp;JAPAN | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Gold | &nbsp;&nbsp;LS MnM Inc. | &nbsp;&nbsp;SOUTH KOREA | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Gold | &nbsp;&nbsp;Matsuda Sangyo Co., Ltd. | &nbsp;&nbsp;JAPAN | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Gold | &nbsp;&nbsp;Metalor Technologies (Hong Kong) Ltd. | &nbsp;&nbsp;CHINA | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Gold | &nbsp;&nbsp;Metalor Technologies (Singapore) Pte., Ltd. | &nbsp;&nbsp;SINGAPORE | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Gold | &nbsp;&nbsp;Metalor Technologies (Suzhou) Ltd. | &nbsp;&nbsp;CHINA | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Gold | &nbsp;&nbsp;Metalor Technologies S.A. | &nbsp;&nbsp;SWITZERLAND | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Gold | &nbsp;&nbsp;Metalor USA Refining Corporation | &nbsp;&nbsp;UNITED STATES | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Gold | &nbsp;&nbsp;Metalurgica Met-Mex Penoles S.A. De C.V. | &nbsp;&nbsp;MEXICO | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Gold | &nbsp;&nbsp;Mitsubishi Materials Corporation | &nbsp;&nbsp;JAPAN | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Gold | &nbsp;&nbsp;Mitsui Mining and Smelting Co., Ltd. | &nbsp;&nbsp;JAPAN | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Gold | &nbsp;&nbsp;MKS PAMP SA | &nbsp;&nbsp;SWITZERLAND | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Gold | &nbsp;&nbsp;Nihon Material Co., Ltd. | &nbsp;&nbsp;JAPAN | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Gold | &nbsp;&nbsp;Royal Canadian Mint | &nbsp;&nbsp;CANADA | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Gold | &nbsp;&nbsp;Shandong Gold Smelting Co., Ltd. | &nbsp;&nbsp;CHINA | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Gold | &nbsp;&nbsp;Shandong Zhaojin Gold & Silver Refinery Co., Ltd. | &nbsp;&nbsp;CHINA | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Gold | &nbsp;&nbsp;Sichuan Tianze Precious Metals Co., Ltd. | &nbsp;&nbsp;CHINA | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Gold | &nbsp;&nbsp;Sumitomo Metal Mining Co., Ltd. | &nbsp;&nbsp;JAPAN | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Gold | &nbsp;&nbsp;Tanaka Kikinzoku Kogyo K.K. | &nbsp;&nbsp;JAPAN | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Gold | &nbsp;&nbsp;Tokuriki Honten Co., Ltd. | &nbsp;&nbsp;JAPAN | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Gold | &nbsp;&nbsp;Western Australian Mint (T/a The Perth Mint) | &nbsp;&nbsp;AUSTRALIA | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Gold | &nbsp;&nbsp;Zhongyuan Gold Smelter of Zhongjin Gold Corporation | &nbsp;&nbsp;CHINA | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Gold | &nbsp;&nbsp;Zijin Mining Group Gold Smelting Co. Ltd. | &nbsp;&nbsp;CHINA | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tantalum | &nbsp;&nbsp;D Block Metals, LLC | &nbsp;&nbsp;UNITED STATES | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tantalum | &nbsp;&nbsp;F&X Electro-Materials Ltd. | &nbsp;&nbsp;CHINA | &nbsp;&nbsp;Conformant |

---

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| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;Tantalum | &nbsp;&nbsp;FIR Metals & Resource Ltd. | &nbsp;&nbsp;CHINA | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tantalum | &nbsp;&nbsp;Global Advanced Metals Aizu | &nbsp;&nbsp;JAPAN | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tantalum | &nbsp;&nbsp;Global Advanced Metals Boyertown | &nbsp;&nbsp;UNITED STATES | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tantalum | &nbsp;&nbsp;Guangdong Rising Rare Metals-EO Materials Ltd. | &nbsp;&nbsp;CHINA | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tantalum | &nbsp;&nbsp;Hengyang King Xing Lifeng New Materials Co., Ltd. | &nbsp;&nbsp;CHINA | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tantalum | &nbsp;&nbsp;Jiangxi Tuohong New Raw Material | &nbsp;&nbsp;CHINA | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tantalum | &nbsp;&nbsp;JiuJiang JinXin Nonferrous Metals Co., Ltd. | &nbsp;&nbsp;CHINA | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tantalum | &nbsp;&nbsp;Jiujiang Tanbre Co., Ltd. | &nbsp;&nbsp;CHINA | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tantalum | &nbsp;&nbsp;Jiujiang Zhongao Tantalum & Niobium Co., Ltd. | &nbsp;&nbsp;CHINA | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tantalum | &nbsp;&nbsp;Materion Newton Inc. | &nbsp;&nbsp;UNITED STATES | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tantalum | &nbsp;&nbsp;Metallurgical Products India Pvt., Ltd. | &nbsp;&nbsp;INDIA | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tantalum | &nbsp;&nbsp;Mitsui Mining and Smelting Co., Ltd. | &nbsp;&nbsp;JAPAN | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tantalum | &nbsp;&nbsp;Ningxia Orient Tantalum Industry Co., Ltd. | &nbsp;&nbsp;CHINA | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tantalum | &nbsp;&nbsp;NPM Silmet AS | &nbsp;&nbsp;ESTONIA | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tantalum | &nbsp;&nbsp;Taki Chemical Co., Ltd. | &nbsp;&nbsp;JAPAN | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tantalum | &nbsp;&nbsp;TANIOBIS Co., Ltd. | &nbsp;&nbsp;THAILAND | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tantalum | &nbsp;&nbsp;TANIOBIS GmbH | &nbsp;&nbsp;GERMANY | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tantalum | &nbsp;&nbsp;TANIOBIS Japan Co., Ltd. | &nbsp;&nbsp;JAPAN | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tantalum | &nbsp;&nbsp;TANIOBIS Smelting GmbH & Co. KG | &nbsp;&nbsp;GERMANY | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tantalum | &nbsp;&nbsp;Telex Metals | &nbsp;&nbsp;UNITED STATES | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tantalum | &nbsp;&nbsp;Ulba Metallurgical Plant JSC | &nbsp;&nbsp;KAZAKHSTAN | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tantalum | &nbsp;&nbsp;XIMEI RESOURCES (GUANGDONG) LIMITED | &nbsp;&nbsp;CHINA | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tantalum | &nbsp;&nbsp;Yanling Jincheng Tantalum & Niobium Co., Ltd. | &nbsp;&nbsp;CHINA | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tin | &nbsp;&nbsp;Aurubis Beerse | &nbsp;&nbsp;BELGIUM | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tin | &nbsp;&nbsp;Chenzhou Yunxiang Mining and Metallurgy Co., Ltd. | &nbsp;&nbsp;CHINA | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tin | &nbsp;&nbsp;China Tin Group Co., Ltd. | &nbsp;&nbsp;CHINA | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tin | &nbsp;&nbsp;Dowa | &nbsp;&nbsp;JAPAN | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tin | &nbsp;&nbsp;Fenix Metals | &nbsp;&nbsp;POLAND | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tin | &nbsp;&nbsp;Gejiu Non-Ferrous Metal Processing Co., Ltd. | &nbsp;&nbsp;CHINA | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tin | &nbsp;&nbsp;Jiangxi New Nanshan Technology Ltd. | &nbsp;&nbsp;CHINA | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tin | &nbsp;&nbsp;Malaysia Smelting Corporation (MSC) | &nbsp;&nbsp;MALAYSIA | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tin | &nbsp;&nbsp;Mineracao Taboca S.A. | &nbsp;&nbsp;BRAZIL | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tin | &nbsp;&nbsp;Minsur | &nbsp;&nbsp;PERU | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tin | &nbsp;&nbsp;Mitsubishi Materials Corporation | &nbsp;&nbsp;JAPAN | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tin | &nbsp;&nbsp;O.M. Manufacturing Philippines, Inc. | &nbsp;&nbsp;PHILIPPINES | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tin | &nbsp;&nbsp;Operaciones Metalurgicas S.A. | &nbsp;&nbsp;BOLIVIA | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tin | &nbsp;&nbsp;PT Timah Tbk Kundur | &nbsp;&nbsp;INDONESIA | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tin | &nbsp;&nbsp;PT Timah Tbk Mentok | &nbsp;&nbsp;INDONESIA | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tin | &nbsp;&nbsp;Rui Da Hung | &nbsp;&nbsp;TAIWAN | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tin | &nbsp;&nbsp;Thaisarco | &nbsp;&nbsp;THAILAND | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tin | &nbsp;&nbsp;Tin Smelting Branch of Yunnan Tin Co., Ltd. | &nbsp;&nbsp;CHINA | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tin | &nbsp;&nbsp;Yunnan Chengfeng Non-ferrous Metals Co., Ltd. | &nbsp;&nbsp;CHINA | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tungsten | &nbsp;&nbsp;Chongyi Zhangyuan Tungsten Co., Ltd. | &nbsp;&nbsp;CHINA | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tungsten | &nbsp;&nbsp;Ganzhou Seadragon W & Mo Co., Ltd. | &nbsp;&nbsp;CHINA | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tungsten | &nbsp;&nbsp;Global Tungsten & Powders LLC | &nbsp;&nbsp;UNITED STATES | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tungsten | &nbsp;&nbsp;H.C. Starck Tungsten GmbH | &nbsp;&nbsp;GERMANY | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tungsten | &nbsp;&nbsp;Hunan Shizhuyuan Nonferrous Metals Co., Ltd. Chenzhou Tungsten Products Branch | &nbsp;&nbsp;CHINA | &nbsp;&nbsp;Conformant |

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| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;Tungsten | &nbsp;&nbsp;Japan New Metals Co., Ltd. | &nbsp;&nbsp;JAPAN | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tungsten | &nbsp;&nbsp;Jiangwu H.C. Starck Tungsten Products Co., Ltd. | &nbsp;&nbsp;CHINA | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tungsten | &nbsp;&nbsp;Masan High-Tech Materials | &nbsp;&nbsp;VIET NAM | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tungsten | &nbsp;&nbsp;Niagara Refining LLC | &nbsp;&nbsp;UNITED STATES | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tungsten | &nbsp;&nbsp;TANIOBIS Smelting GmbH & Co. KG | &nbsp;&nbsp;GERMANY | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tungsten | &nbsp;&nbsp;Xiamen Tungsten (H.C.) Co., Ltd. | &nbsp;&nbsp;CHINA | &nbsp;&nbsp;Conformant |
| &nbsp;&nbsp;Tungsten | &nbsp;&nbsp;Xiamen Tungsten Co., Ltd. | &nbsp;&nbsp;CHINA | &nbsp;&nbsp;Conformant |

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&nbsp;&nbsp;&nbsp;&nbsp;(a) The table lists only the smelters
 and refiners identified by Surveyed Vendors that provided Target with product level smelter and refiner information for 2024. The
 smelters and refiners reflected above may not be all of the smelters and refiners that processed the necessary 3TG in Target's
 in-scope products, since many of the Surveyed Vendors indicated that they were unable to identify all of the smelters and refiners
 used to process the necessary 3TG contained in Target's owned and exclusive brand products and many of the Surveyed Vendors
 provided company level smelter and refiner information. In addition, some of the identified smelters and refiners may not be in Target's
 supply chain due to over-inclusiveness in the information provided by the Surveyed Vendors.

&nbsp;&nbsp;&nbsp;&nbsp;(b) The table only includes entities that were listed as
 smelters or refiners by the RMI.

&nbsp;&nbsp;&nbsp;&nbsp;(c) "Smelter or Refiner Country" is the country
 in which the smelter or refiner is located.

(d) "Certification Status" information in the
 table is as of April 30, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;(e) "Conformant" means that a smelter or refiner
 has successfully completed an assessment against the applicable Responsible Minerals Assurance Process ("RMAP") standard
 or an equivalent cross-recognized assessment. Included smelters and refiners were not necessarily Conformant for all or part of 2024
 and may not continue to be Conformant for any future period. Target does not have information on the origin of the 3TG processed
 by any of the Conformant smelters and refiners prior to their respective certification dates.

&nbsp;&nbsp;&nbsp;&nbsp;(f) "Active" means that a smelter or refiner
 is currently engaged in the RMAP but a conformance determination has yet to be made. None of the listed smelters or refiners for
 2024 are in this category.

&nbsp;&nbsp;&nbsp;&nbsp;(g) Certification Status and Smelter or Refiner Country
 information included in the table are based solely on information made publicly available by the RMI, without independent verification
 by Target.

**Country of Origin Information**

The countries of origin of the newly mined 3TG processed by the Conformant smelters and refiners listed above may have included the countries listed below as well as possibly other countries. The listed countries of origin have been provided by the Service Provider. 3TG in Target's products may not have originated in a particular country listed below.

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| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;ANGOLA\* | &nbsp;&nbsp;ARGENTINA | &nbsp;&nbsp;AUSTRALIA | &nbsp;&nbsp;AUSTRIA |
| &nbsp;&nbsp;BELARUS | &nbsp;&nbsp;BELGIUM | &nbsp;&nbsp;BOLIVIA | &nbsp;&nbsp;BRAZIL |
| &nbsp;&nbsp;BURUNDI\* | &nbsp;&nbsp;CAMBODIA | &nbsp;&nbsp;CANADA | &nbsp;&nbsp;CENTRAL AFRICAN REPUBLIC\* |
| &nbsp;&nbsp;CHILE | &nbsp;&nbsp;CHINA | &nbsp;&nbsp;COLOMBIA | &nbsp;&nbsp;CONGO, THE REPUBLIC OF\* |
| &nbsp;&nbsp;CONGO, DEMOCRATIC REPUBLIC OF THE\* | &nbsp;&nbsp;COTE D'IVOIRE | &nbsp;&nbsp;CZECHIA | &nbsp;&nbsp;DJIBOUTI |
| &nbsp;&nbsp;ECUADOR | &nbsp;&nbsp;EGYPT | &nbsp;&nbsp;ESTONIA | &nbsp;&nbsp;ETHIOPIA |
| &nbsp;&nbsp;FRANCE | &nbsp;&nbsp;GERMANY | &nbsp;&nbsp;GUINEA | &nbsp;&nbsp;GUYANA |
| &nbsp;&nbsp;HONG KONG | &nbsp;&nbsp;HUNGARY | &nbsp;&nbsp;INDIA | &nbsp;&nbsp;INDONESIA |
| &nbsp;&nbsp;IRELAND | &nbsp;&nbsp;ISRAEL | &nbsp;&nbsp;ITALY | &nbsp;&nbsp;JAPAN |
| &nbsp;&nbsp;JERSEY | &nbsp;&nbsp;KAZAKHSTAN | &nbsp;&nbsp;KENYA | &nbsp;&nbsp;KOREA, REPUBLIC OF |
| &nbsp;&nbsp;KYRGYZSTAN | &nbsp;&nbsp;LAOS | &nbsp;&nbsp;LUXEMBOURG | &nbsp;&nbsp;MADAGASCAR |
| &nbsp;&nbsp;MALAYSIA | &nbsp;&nbsp;MEXICO | &nbsp;&nbsp;MONGOLIA | &nbsp;&nbsp;MOROCCO |
| &nbsp;&nbsp;MOZAMBIQUE | &nbsp;&nbsp;MYANMAR | &nbsp;&nbsp;NAMIBIA | &nbsp;&nbsp;NETHERLANDS |
| &nbsp;&nbsp;NIGER | &nbsp;&nbsp;NIGERIA | &nbsp;&nbsp;PAPUA NEW GUINEA | &nbsp;&nbsp;PERU |
| &nbsp;&nbsp;PHILIPPINES | &nbsp;&nbsp;POLAND | &nbsp;&nbsp;PORTUGAL | &nbsp;&nbsp;RUSSIA |

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| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;RWANDA\* | &nbsp;&nbsp;SAUDI ARABIA | &nbsp;&nbsp;SIERRA LEONE | &nbsp;&nbsp;SINGAPORE |
| &nbsp;&nbsp;SLOVAKIA | &nbsp;&nbsp;SOUTH AFRICA | &nbsp;&nbsp;SOUTH SUDAN\* | &nbsp;&nbsp;SPAIN |
| &nbsp;&nbsp;SURINAME | &nbsp;&nbsp;SWEDEN | &nbsp;&nbsp;SWITZERLAND | &nbsp;&nbsp;TAIWAN |
| &nbsp;&nbsp;TAJIKISTAN | &nbsp;&nbsp;TANZANIA\* | &nbsp;&nbsp;THAILAND | &nbsp;&nbsp;TURKEY |
| &nbsp;&nbsp;UGANDA\* | &nbsp;&nbsp;UNITED ARAB EMIRATES | &nbsp;&nbsp;UNITED KINGDOM | &nbsp;&nbsp;UNITED STATES OF AMERICA |
| &nbsp;&nbsp;UZBEKISTAN | &nbsp;&nbsp;VIETNAM | &nbsp;&nbsp;ZAMBIA\* | &nbsp;&nbsp;ZIMBABWE |

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\*Represents a Covered Country

In addition, according to information made available by the Service Provider, some of the listed smelters and refiners processed 3TG originating solely from recycled or scrap sources and others processed both recycled and scrap content and newly mined content.