Enerpac Tool (EPAC) SDConflict minerals disclosure

Exhibit 1.01

ENERPAC TOOL GROUP CORP.

Conflict Minerals Report

For The Year Ended December 31, 2019

Background:

The Securities and Exchange Commission (the “SEC”), as mandated by Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, requires public companies to provide annual reporting and disclosures related to their purchase and use of tantalum, tin, tungsten and gold (collectively “Conflict Minerals”) due to international concern Conflict Minerals originating from the Democratic Republic of Congo and adjoining countries (“Covered Countries”) are funding human rights abuses and regional conflict. This report is being presented to comply with those requirements and Rule 13p-1 of the Securities Exchange Act of 1934 (the "Exchange Act").

Company Overview:

Enerpac Tool Group Corp. (the "Company," "Enerpac," "we," "our" or "us"), headquartered in Menomonee Falls, Wisconsin, was incorporated in 1910. We are a global diversified company that designs, manufactures and distributes a broad range of industrial products and systems and provides services to various end markets. Within the calendar year ended December 31, 2019, the Company was organized into two reportable segments: Industrial Tools & Services and Engineered Components & Systems. The Industrial Tools & Services segment was and is primarily engaged in the design, manufacture and distribution of branded hydraulic and mechanical tools, as well as providing services and tool rentals to the industrial, maintenance, infrastructure, oil & gas, energy and other markets. The Engineered Components & Systems ("EC&S") segment, of which all but the Cortland U.S business, was divested in calendar 2019, provides highly engineered components for on-highway, off-highway, agriculture, energy, medical, construction and other vertical markets. This report includes information associated with the business activities of those EC&S segment divested businesses through their divestiture date on October 31, 2019. While we have manufacturing capabilities including machining, stamping, injection molding and fabrication, our manufacturing activities primarily consist of light assembly of components we source from a network of global suppliers.

Conflict Minerals Policy:

We are committed to ethical business practices and promoting the safety, health and well-being of the communities we impact. We are guided in our pursuit and implementation of these principles by our Code of Conduct and Conflict Minerals Policy, which is available in the Investors - Governance section of the Company’s website (www.enerpactoolgroup.com).

The Conflict Minerals Policy affirms our commitment to responsible sourcing practices for our components and raw materials. Consistent with the Conflict Minerals Policy, we direct our business to suppliers who can confirm their products are from conflict-free sources and eliminate non-conforming suppliers and products from our supply chain.

Supply Chain Due Diligence:

We conduct a country of origin inquiry and due diligence of our supply on an annual basis. We have designed our due diligence measures to be in conformity, in all material respects, with the internationally recognized due diligence framework in the Organization for Economic Co-operation and Development Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas and related supplements for each of the Conflict Minerals (the “OECD Guidance”). Summarized below is the five-step framework set forth in the OECD Guidance and the related due diligence measures we have undertaken.

Establish Company Management Systems:

We maintain a cross-functional conflict minerals team that includes employees from our supply chain, trade compliance, legal, finance and operations functions. This team is responsible for administering our Conflict Minerals compliance program, including communicating regular updates to senior management and providing organizational guidance on the rules. Our compliance program includes supplier engagement, the Conflict Minerals Policy and processes for reporting exceptions to our policies. We also have included Conflict Minerals compliance clauses in purchase orders and supplier contracts.

Identify and Assess Risk in the Supply Chain:

Our operations are several steps removed from the mining of minerals and do not directly source minerals. As part of our diligence measures, we conducted a country of origin inquiry to determine whether any of the Conflict Minerals in our products originated in the Covered Countries. Because of the diversity of our products and the global nature of our supply chain, we rely on our suppliers to provide us with information about the source and content of components we purchase from them and incorporate into our products. Similarly, our direct suppliers also rely on information provided by their suppliers. This chain of information creates a level of uncertainty and risk related to the accuracy of the information.

Design and Implement a Strategy to Respond to Identified Risks:

We expect our suppliers to source minerals from responsible and Conflict Free Sourcing Initiative-compliant sources and believe in establishing and maintaining long-term relationships with compliant suppliers. If, as a result of our due diligence measures, we determine that a supplier is violating our Conflict Minerals Policy, we will either seek an alternate supplier or require a suitable corrective action plan. In limited cases, identifying alternate sources can be difficult and require lengthy implementation periods.

Carry Out Independent Third-Party Audit of Smelter/Refiner’s Due Diligence Practices:

We do not perform or direct audits of Conflict Minerals smelters and refiners within our supply chain since we are a downstream consumer and several steps removed from smelters and refiners that provide minerals and ores.

Report on Supply Chain Due Diligence:

The most frequently utilized smelters in our supply chain, as reported by our suppliers, are included in Schedule A to our Conflict Minerals Report. Our review of the most frequently utilized smelters did not identify any facilities considered to be higher risk. Our comprehensive review did identify facilities associated with our less utilized suppliers that are in Covered Countries. Due to incomplete information provided by those suppliers (including in response to our follow-up inquiries), we have been unable to determine whether the components or parts supplied to us contain Conflict Minerals from these smelters or refiners.

We continue to evaluate our due diligence program to enhance the information available to us and better identify risks in our supply chain. We will make every reasonable attempt to bolster our outreach efforts to our suppliers, particularly those who are unable to provide greater transparency about their own sourcing practices, to improve the quality of their responses. We also will continue to explore alternatives to those suppliers who cannot reliably confirm their supply chains are free of non-conforming Conflict Minerals.

For the year ended December 31, 2019, pursuant to SEC rules and related guidance, an independent private sector audit of this report was not required.