As we have not received conclusive data from all our direct suppliers, we are unable to make
a definitive determination about all sources of the tin, tungsten, tantalum or gold in our products and cannot determine whether our supply chain is conflict-free. However, we received no information from our direct suppliers who did
provide a CMRT response to indicate that the tin, tantalum, tungsten or gold directly or indirectly financed or benefitted armed groups in the DRC or adjoining countries. The table in Annex 1 lists the names and countries of the smelters or refiners
reported by our suppliers. Annex 2 lists the countries of origin identified as the sources of those smelters and refiners.
We believe
that requesting our contract manufacturers and component/product/material suppliers to complete the RMI CMRT and encouraging these upstream suppliers to source materials from conflict-free sources such as those validated by the RMAP, communicating
our conflicts minerals policy, reviewing the smelter or refiner information provided, and reviewing the country of origin of source materials of those smelters or refiners represents a reasonable effort to determine the mines or location of origin
of the Conflict Minerals in our supply chain. Moving forward, the Company will continue to implement commercially reasonable procedures to prevent Conflict Minerals that finance or benefit armed groups from entering our supply chain.
Independent Private Sector Audit (IPSA)
Not required for reporting year 2023.
Risk
Factors
The statements above are based on the RCOI process and due diligence performed in good faith by the Company. These statements
are based on the infrastructure and information available at the time. A number of factors could introduce errors or otherwise affect Dolbys Conflict Minerals status. These factors include, but are not limited to, gaps in supplier
data, gaps in smelter or refiner data, errors or omissions by suppliers, errors or omissions by smelters or refiners, the definition of a smelter or refiner not being finalized at the end of the reporting period, all instances of Conflict Minerals
necessary to the functionality or manufacturing of Dolbys products possibly not yet having been identified, gaps in supplier education and knowledge, timeliness of data, public information not discovered during a reasonable search, errors in
public data, inaccurate or incomplete information due to disruptions caused by military conflicts and natural disasters, language barriers and translation, supplier and smelter or refiner unfamiliarity with the protocol, oversights or errors in
independent third party audits conducted by the RMAP, LBMA, or RJC, Covered Countries sourced materials being declared secondary materials, companies going out of business, auditing programs being not equally advanced for all industry segments and
metals, and smuggling of Conflict Minerals from the Covered Countries to countries beyond the Covered Countries.
Forward-Looking Statements
Certain statements in this Report, including, but not limited to, statements relating to Dolbys future supply management practices,
policies and plans for procurement of materials, and efforts to improve supply chain transparency, are forward-looking statements that are subject to risks and uncertainties. In some cases, you can identify forward-looking statements
because they contain words such as believe, continue, could, expect, may, will, would, should, plan, anticipate, or
intend or the negative of these words or other similar terms or expressions. Such forward-looking statements are based on managements reasonable and current assumptions and expectations, but such statements inherently involve
substantial risks and uncertainties. Actual results may differ materially from those discussed in these forward-looking statements due to a number of factors. The following important factors, without limitation, could cause actual results to
differ materially from those in the forward-looking statements: the ability of Dolby and its suppliers to obtain reliable information as to the source of purchased production materials; whether upstream suppliers responsibly source materials from
conflict-free sources; political and regulatory developments; and other risks detailed under the section captioned Risk Factors in this Report. Dolby disclaims any obligation to update information contained in these forward-looking
statements whether as a result of new information, future events, or otherwise.