CHICAGO RIVET & MACHINE CO

Chicago Rivet & Machine Co. (the “Company”) was incorporated under the laws of the State of Illinois in December 1927 as the successor to the business of Chicago Rivet & Specialty Co. The Company operates in the United States ("U.S.") through two reportable segments, defined by the nature of their products. The Fastener segment includes the Company’s wholly owned subsidiary, H&L Tool Company Inc., along with the Company’s other fastener operations. This segment manufactures and sells rivets, cold‑formed fasteners and components, as well as screw‑machine products. The Assembly Equipment segment is primarily engaged in the manufacture of automatic rivet‑setting machines and related parts, components, and tools used in such machines.

The principal market for the Company’s products is the North American automotive industry. Sales are solicited by employees and by independent sales representatives.

The segments in which the Company operates are characterized by active and substantial competition. No single company dominates the industry. The Company's competitors include both larger and smaller manufacturers, and segments or divisions of large, diversified companies with substantial financial resources. Principal competitive factors in the market for the Company's products are price, quality and service.

The Company serves a variety of customers. Revenues are primarily derived from sales to customers involved, directly or indirectly, in the manufacture of automobiles and automotive components. The level of business activity for the Company is closely related to the overall level of industrial activity in the U.S. During 2025, sales to the top three customers were each at least 5% of the Company’s consolidated revenues.

Sales to TI Group Automotive Systems, LLC accounted for approximately 19% and 13% of the Company’s consolidated revenues in 2025 and 2024, respectively. Sales to Martinrea International Inc. accounted for approximately 10% and 13% of the Company’s consolidated revenues in 2025 and 2024, respectively. Sales to Cooper-Standard Holdings, Inc. accounted for approximately 5% and 9% of the Company’s consolidated revenues in 2025 and 2024, respectively.

The Company's business has historically been stronger during the first half of the year due to the seasonality of automotive manufacturing.

The Company purchases raw materials from a number of sources, primarily within the U.S. There are numerous sources of raw material, and the Company does not have to rely on a single source for any of its requirements. See Risk Factors, "Increases in our raw material costs or difficulties with our suppliers could negatively affect us." for additional information.

Patents, trademarks, licenses, franchises and concessions are not of significant importance to the business of the Company.

The Company does not engage in significant research activities, but rather in ongoing product improvement and development. The amounts spent on product development activities in the last two years were not material.

At December 31, 2025, the Company employed 158 people. This figure includes a reduction of 19 full-time and part-time employees as a result of the previously disclosed closure of the Albia, Iowa manufacturing facility in the third quarter of 2024. See Note 8. Exit and Disposal to the Consolidated Financial Statements, included herein.

The Company has no foreign operations. Sales to foreign customers accounted for approximately 25% and 19% of the Company's total sales in 2025 and 2024, respectively.