RETRACTABLE TECHNOLOGIES INC

In addition to the risk factors disclosed in our most recent annual report which is available on EDGAR, the following additional risk factor has been identified.

On May 14, 2024, President Biden directed the Office of the U.S. Trade Representative (“USTR”) to increase tariffs on certain goods imported from China under Section 301 of the Trade Act of 1974. Among those products included were syringes and needles, at a rate of 50%. As noted in this report, for the first six months of 2024, 91% of our products were purchased from our manufacturers in China, most of which would be impacted by the contemplated tariffs. On July 30, 2024, the USTR announced that, in response to more than 1,100 public comments received regarding the modifications, it would continue reviewing the comments and expects its final determination will be issued in August, and that the modifications slated for 2024 will take effect approximately two weeks after its final determination. In the event that the tariffs affecting syringes and needles are enacted, the resulting increase in costs could have a material impact to our results of operations and financial position. We are working to evaluate options to lessen the financial impact of the tariffs, including shifting a larger portion of manufacturing of 1mL, 3mL, and EasyPoint® needles to our domestic manufacturing facility.