Exhibit 1.01
NOV Inc.
Conflict Minerals Report
For the reporting period from January 1, 2025 to December 31, 2025
This Conflict Minerals Report of NOV Inc. (the “Company,” “NOV,” “we,” “us,” or “our”) for the calendar year ended December 31, 2025 is presented pursuant to Rule 13p-1 under the Securities Exchange Act of 1934 (the “Rule”). The Rule imposes certain reporting obligations on issuers whose manufactured products include cassiterite, columbite-tantalite, gold, wolframite, and their derivatives, which are limited to tin, tantalum, tungsten, and gold (the “Designated Minerals”), where such Designated Minerals are necessary to the functionality or production of such products. If any Designated Minerals necessary to functionality or production of such products originated from the Democratic Republic of the Congo or an adjoining country that shares an internationally recognized border with the Democratic Republic of the Congo (the “Conflict Region”) and are not from recycled or scrap sources, the Rule imposes certain additional due diligence and reporting obligations.
Product Description
This Conflict Minerals Report covers all products manufactured by NOV or contracted to be manufactured for NOV. Those products include, but are not limited to, those listed in Attachment A to this Conflict Minerals Report. After evaluating our product lines, we have determined that certain products that we manufacture or contract to manufacture contain the Designated Minerals and that such Designated Minerals are necessary to the function or production of such product(s).
Conflict Minerals Policy
NOV’s policy is to develop a “conflict-free” supply chain – one that does not use Designated Minerals sourced from mines or smelters that have directly or indirectly aided armed groups in the Conflict Region.
A copy of our policy can be found at: http://investors.nov.com/phoenix.zhtml?c=97690&p=irol-govconduct.
Reasonable Country of Origin Inquiry
Our conflict minerals compliance program was initiated with a review of our product portfolio. NOV is a global company with a complex and multi-tiered supply chain. Due to this complexity, NOV relies on our Tier 1 suppliers to provide input regarding the source of conflict minerals in both the raw materials and parts that we purchase for use in the manufacture of our products. We expect our Tier 1 suppliers to also implement policies and procedures comparable to NOV’s to obtain thorough and accurate chain of custody information for the purpose of this reporting.
NOV utilizes an internally developed and computerized Conflict Minerals Management System (the “CMM System”) that provides a platform for conflict minerals compliance by all NOV business units impacted by conflict minerals. Suppliers identified as providing goods containing any of the Designated Minerals are flagged within The CMM System as potential “Conflict Minerals” suppliers delivering items containing Designated Minerals. The identified suppliers are directed to complete an online Reasonable Country of Origin Inquiry (“RCOI”). The purpose of our CMM System is to determine which suppliers should complete an RCOI, and further to identify suppliers requiring additional Due Diligence (see “Due Diligence” below) based on the RCOI responses.
For the 2025 calendar year, we asked 692 suppliers we identified as relevant to complete an online RCOI through our CMM System. The survey response rate was 31%. Of the 215 suppliers who responded, no supplier reported having sourced from the Conflict Region in a manner which benefited armed groups in the region. NOV continues to work with our suppliers to obtain this information to increase our visibility on the use of conflict minerals in our supply chain.
Due Diligence
Our due diligence process is designed to be consistent with Annex I of the Organization for Economic Co-Operation and Development (“OECD”) Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas (the “OECD Framework”). All steps taken by NOV in preparing this Conflict Minerals Report are in accordance with the OECD Framework.
Our due diligence activities generally included follow-up questions with the relevant suppliers or their sub-suppliers within the supply chain, a review of smelter or refiner certifications, a review of materials spec sheets, and similar activities designed to determine whether raw materials and/or purchased subcomponents used in our products contain Designated Minerals, the source of any Designated Minerals, and whether that source directly or indirectly aids armed groups in the Conflict Region.
Based on the information that was provided by our suppliers and otherwise obtained through the due diligence process, we believe that, to the extent reasonably determinable, the facilities that were used to process the Designated Minerals contained in our in-scope products may have included the smelters and refiners listed in Attachment B below. The list is not comprehensive, and it is also likely over-inclusive in that it includes some smelters or refiners that are not in the Company’s supply chain due to supplier responses being provided at the company or divisional level (rather than item level reporting).
This Conflict Minerals Report was not subjected to an independent private sector audit.
Attachment A
List of Products
The following products are more fully described in the company’s Form 10-K, which may be found publicly on our internet website at:
http://investors.nov.com/phoenix.zhtml?c=97690&p=irol-reportsannual
Artificial Lift Systems
Blenders
Blowout Preventers and other Pressure Control Equipment
Cranes
Coiled Tubing Equipment
Completion Tools
Derricks, Substructures and Masts
Downhole Fluids
Downhole Motors and other Downhole Tools
Drill Bits
Drill Pipe and Tubulars
Electric Rig Motors
Fiberglass and Steel Storage Tanks
Fiberglass Pipes and Connectors
Floating Offshore Wind Structures
Floating Production Systems
Fracturing Tools and Technologies
Hoisting Systems
Instrumentation
Land Rig Packages
Manifolds and Wellheads
Motion Compensation Systems
Mud Pumps and other Fluid Transfer Technologies
Offshore Drilling Equipment Packages
Pipe Handling Systems
Pipe Handling Tools
Power Generators and Lighting
Pressure Pumping Trucks and Pumps
Rig Instrumentation and Control Systems
Rotary Equipment
Sanders
Solids Control and Waste Management Systems
Stimulation Equipment
Surface Transfer Pumps
Top Drives and other Power Transmission Systems
Turret Mooring Systems
Wind Turbine Installation and Cable Lay Vessels
Wireline Units and Tools
Attachment B
In connection with our RCOI and due diligence process, our suppliers identified the smelters and refiners listed below as potentially having processed the Conflict Minerals contained in our in-scope products in calendar year 2025.
Smelter List
|
|
|
|
CID |
Metal |
Smelter or Refiner Name |
Country |
CID000019 |
Gold |
Aida Chemical Industries |
JAPAN |
CID000082 |
Gold |
Asahi Metalfine |
JAPAN |
CID000090 |
Gold |
Asaka Riken |
JAPAN |
CID000157 |
Gold |
Boliden Ronnskar |
SWEDEN |
CID004604 |
Gold |
Impala Refineries – BMR |
SOUTH AFRICA |
CID004610 |
Gold |
Impala Rustenburg |
SOUTH AFRICA |
CID000035 |
Gold |
Agosi AG |
GERMANY |
CID000113 |
Gold |
Aurubis AG |
GERMANY |
CID000176 |
Gold |
C. Hafner GmbH |
GERMANY |
CID000180 |
Gold |
Caridad |
MEXICO |
CID000185 |
Gold |
CCR Refinery – Glencore |
CANADA |
CID000189 |
Gold |
Cendres + Metaux S.A. |
SWITZERLAND |
CID000233 |
Gold |
Chimet |
ITALY |
CID000264 |
Gold |
Chugai Mining |
JAPAN |
CID000343 |
Gold |
Daye Non-Ferrous Metals Mining |
CHINA |
CID000359 |
Gold |
Do Sung Corporation |
KOREA, REPUBLIC OF |
CID000401 |
Gold |
Dowa |
JAPAN |
CID000425 |
Gold |
Eco-System Recycling - East Plant |
JAPAN |
CID000671 |
Gold |
Hangzhou Fuchunjiang Smelting |
CHINA |
CID000689 |
Gold |
LT Metal |
KOREA, REPUBLIC OF |
CID000694 |
Gold |
Heimerle + Meule GmbH |
GERMANY |
CID000707 |
Gold |
Heraeus Metals Hong Kong |
CHINA |
CID000711 |
Gold |
Heraeus Germany GmbH |
GERMANY |
CID000767 |
Gold |
Hunan Chenzhou Mining |
CHINA |
CID000773 |
Gold |
Hunan Guiyang Yinxing Smelting |
CHINA |
CID000778 |
Gold |
HwaSeong CJ |
KOREA, REPUBLIC OF |
CID000801 |
Gold |
Inner Mongolia Qiankun |
CHINA |
CID000807 |
Gold |
Ishifuku Metal Industry |
JAPAN |
CID000814 |
Gold |
Istanbul Gold Refinery |
TURKEY |
CID000823 |
Gold |
Japan Mint |
JAPAN |
CID000855 |
Gold |
Jiangxi Copper |
CHINA |
CID000920 |
Gold |
Asahi Refining |
USA |
CID000924 |
Gold |
Asahi Refining Canada |
CANADA |
CID000937 |
Gold |
JX Nippon Mining & Metals |
JAPAN |
CID000956 |
Gold |
Kazakhmys Smelting |
KAZAKHSTAN |
CID000957 |
Gold |
Kazzinc |
KAZAKHSTAN |
CID000969 |
Gold |
Kennecott Utah Copper |
USA |
CID000981 |
Gold |
Kojima Chemicals |
JAPAN |
CID001029 |
Gold |
Kyrgyzaltyn JSC |
KYRGYZSTAN |
CID001032 |
Gold |
L'azurde Company |
SAUDI ARABIA |
CID001078 |
Gold |
LS MnM Inc. |
KOREA, REPUBLIC OF |
CID001093 |
Gold |
Luoyang Zijin Yinhui Gold Refinery |
CHINA |
CID001113 |
Gold |
Materion |
USA |
CID001119 |
Gold |
Matsuda Sangyo |
JAPAN |
CID001147 |
Gold |
Metalor Technologies |
CHINA |
CID001149 |
Gold |
Metalor Technologies. |
CHINA |
CID001152 |
Gold |
Metalor Technologies PTE |
SINGAPORE |
CID001153 |
Gold |
Metalor Technologies S.A. |
SWITZERLAND |
CID001157 |
Gold |
Metalor USA Refining Corporation |
USA |
CID001161 |
Gold |
Metalurgica Met-Mex Penoles |
MEXICO |
CID001188 |
Gold |
Mitsubishi Materials Corporation |
JAPAN |
CID001193 |
Gold |
Mitsui Mining and Smelting |
JAPAN |
CID001220 |
Gold |
Nadir Metal Rafineri |
TURKEY |
CID001236 |
Gold |
Navoi MMC |
UZBEKISTAN |
CID001259 |
Gold |
Nihon Material |
JAPAN |
CID001352 |
Gold |
MKS PAMP SA |
SWITZERLAND |
|
|
|
|
CID |
Metal |
Smelter or Refiner Name |
Country |
CID003417 |
Tungsten |
Hubei Green Tungsten |
CHINA |
CID003427 |
Tungsten |
Albasteel Fundicao |
BRAZIL |
CID003468 |
Tungsten |
Cronimet Brasil |
BRAZIL |
CID003609 |
Tungsten |
Fujian Xinlu Tungsten |
CHINA |
CID003662 |
Tungsten |
Yudu Ansheng Tungsten |
CHINA |
CID003993 |
Tungsten |
Tungsten Vietnam JSC |
VIETNAM |
CID004034 |
Tungsten |
Nam Viet Cromit JSC |
VIETNAM |
CID004397 |
Tungsten |
Lianyou Resources |
TAIWAN |
CID004430 |
Tungsten |
Shinwon Tungsten |
CHINA |
CID004619 |
Tungsten |
Kenee Mining |
VIETNAM |
CID000769 |
Tungsten |
Hunan Jintai New Material |
CHINA |
CID002649 |
Tungsten |
Hydrometallurg, JSC |
RUSSIAN FEDERATION |
CID002724 |
Tungsten |
Unecha Refractory Metals |
RUSSIAN FEDERATION |
CID002845 |
Tungsten |
Moliren |
RUSSIAN FEDERATION |
CID003408 |
Tungsten |
JSC Kirovgrad Hard Alloys Plant |
RUSSIAN FEDERATION |
CID003416 |
Tungsten |
NPP Tyazhmetprom |
RUSSIAN FEDERATION |
CID003612 |
Tungsten |
OOO Technolom 2 |
RUSSIAN FEDERATION |
CID003614 |
Tungsten |
OOO Technolom 1 |
RUSSIAN FEDERATION |
CID004438 |
Tungsten |
Philippine Carreytech Metal |
PHILIPPINES |
CID004797 |
Tungsten |
Philippine Bonway Manufacturing |
PHILIPPINES |
CID000875 |
Tungsten |
Ganzhou Huaxing Tungsten |
CHINA |
CID002833 |
Tungsten |
ACL Metais Eireli |
BRAZIL |
CID003553 |
Tungsten |
Artek |
RUSSIAN FEDERATION |
CID004060 |
Tungsten |
Dongkuk Industries |
KOREA, REPUBLIC OF |
CID003978 |
Tungsten |
Hannae |
KOREA, REPUBLIC OF |
CID003643 |
Tungsten |
LLC Vostok |
RUSSIAN FEDERATION |
CID004056 |
Tungsten |
Malamet Smelting |
MALAYSIA |
CID002827 |
Tungsten |
Philippine Chuangxin Industrial |
PHILIPPINES |
CID000766 |
Tungsten |
Hunan Chenzhou Mining |
CHINA |
CID000105 |
Tungsten |
Kennametal Huntsville |
USA |
CID002538 |
Tungsten |
Sanher Tungsten |
VIETNAM |
CID005017 |
Tungsten |
Southern Mining Smelting |
LAOS |
CID005012 |
Tungsten |
Jing Yuan Tungsten |
TAIWAN |
CID005068 |
Tungsten |
S.P.T. Spol.s.r.o |
CZECHIA |
CID000004 |
Tungsten |
A.L.M.T. Corp. |
JAPAN |
CID000218 |
Tungsten |
Guangdong Xianglu Tungsten |
CHINA |
*The United States Department of Treasury, Office of Foreign Assets Control designated African Gold Refinery (“AGR”) (CID003185) as a Specially Designated National on March 17, 2022. The Company did not identify any direct transactions or contractual relationships with AGR. However, thirty-seven of our suppliers reported that they utilized AGR in their supply chain. Due to the over-reporting nature of the information collection process, and the nature of our and our subsidiaries’ supply chains, we are unable to confirm whether or not this entity, or any smelter or refiner, is or was active in our supply chain. We have initiated risk mitigation activities as part of our risk management plan, that includes notifying our Tier 1 Suppliers of the presence of this smelter and requesting either item-level reporting on the use of Designated Minerals in the actual products sold to NOV, or requesting their action to address and remove the smelter(s) or refiner(s) from their supply chain.