II • BARNES & • • THORNBURG LLP

Joint Respondents' Hearing Materials Certain Tool Chests and Cabinets from China and Vietnam Inv. Nos. 701-TA-575 and 731-TA-1360-61

November 28, 2017

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Waterloo Product at & Lowe's

sears ' Most product has been around for 5+ years. 41" & 52" launched in 2016

26" 5-Drw Combo 26" 6-Drw Set 41" 8-Drw Cabinet 26" 9-Drw Set 26" 10-Drw Set 41" 16-Drw Set 52" 18-Drw Set

KOBALT

Most product launched in 2017

26" 5-Drw Combo 26" 8-Drw Set 41" 6-Drw Cabinet 26" 8-Drw Set 26" 10-Drw Set 41" 12-Drw Set 52" 15-Drw Set

CONFIDENTIAL ©2017 Barnes & Thornburg LLP, All Rights Reserved. This page, and all information on it, is confidential, proprietary and the II • BARNES & property of Dames & Thornburg LLP, which may not be disseminated or disclosed to any person or entity other than the intended recipient(s), and may not be reproduced, in any form, without the express written consent of the author or presenter. The information on this page is tir @BTL awNews 2 • III THORNBURG Lty intended for informational purposes only and shall not be construed as legal advice or a legal opinion of Barnes & Thomburg LLP. Holiday Ads of Waterloo Items at Sears and Lowe's 2008-2016 sears 2008 Sears Holiday Ad 2014 Sears Holiday Ad no extra 10', off sale priced tools.' BLACK FRI DEAL lE=1=11 SAVE OVER 5 55' MAKE YOUR TOOL FAN'S HOLIDAY GREAT WI 411 Craftsman 40-in 19.drawar premium enjoy additional Member savings of up to $200 55%OFF henry-duly 01111-0earm -49 $899.98WITH t001 chest. 699.98 /PS EXTRA10% OFF Om o99.98 000, 999.98before 10% off Craftsman 52-M. 20-drawer premium heavy- duty ball-bearing tool chest Roo. 2239.98 000958829/30

IL 8 $9891 05 OPE /ND CLOSE MORT EASILY AS LOAD MORTISES 5MF Craftsman 11-drawer ball- bearing tool chest ENSURE 588 9165 Available to black or 41' WIDE $2499 red. ARE 50588181 each ..{ 50880 Craftsman 11-drawer 219.97 CLOSED WIT , 800931018/4/5, P110810E88 ball-bearIng tool chest OR IPLAITH SKIM SPACE 400931018/4/5 800938091/3/6 DRAWER FOR ELL eke avolobl,o frAnnnefivnm IITTEKIION TOUR TOOLS , ./

49 t',rt.ra Na ,6.4 rears No ,nto Craltsseaff10.0Toner Rall-Resem Combo ma .ce., .stivi I. 40.11k CratEmen I I -Omar 881kBeerog DoMbe illt 51008. Sten anove tufunafts*L09.91. Lowes ina ket..asiet eattuteme ' . 2015 Sears Holiday Ad 2016 Sears Holiday Ad 2016 Holiday Ad i ....Nig £0 3n5.1e5i, I. M114214 Ror 1319 TISolltell 379.99 499.98 799.98

•

Group 11016.0 2-pc. Sears 2011 Holiday Ad set -mbank.- $398 .628 r=1 40.6. 4-001mo Etiook Steel fool Chesi • StrAte2 tellimems blipunsw W musathet 411.75.01 Drawer 12 AmmOrmers Black Steel Hoeing 90.11 H man Tool CMOmol 080.410.1 '189" s29997 74998 when you whan you when you buy both buy all 3 buy both Craftsman. Craftsman Craftsman &Mower 11-itrawer 22-drawer 19998 ball-besing tool boll-bearing tool minium Craftsmen. 40-In. chest. 500-lb. limey-dm chest. 500-16. premium heavy- SAVE SE. LOwCST PR,C capacity Capacity baltbeering duty boll-bearing i .019310187 000131C, 8.15.14 tool chest, 814.99 10061.16. tool chest with Craftsman S29997 capacdy 18GRIOLATCH• drawer liner roll Craftsman MOW4173/4 19-61.0 drawers 13.drewer heavy-duty H 000958623/4 bellimming tool chest '999"endlanun Sadreffw eromluro foreneduly ritg..P.117 bel alum orenC0161.8ftal• Owner. SWANN Abe weal.Alum

CONFIDENTIAL 0 2017 Barnes & Thornburg LLP. All Rights Reserved. This page, and all information on it, is confidential, proprietary and the • • BARNES & property of Barnes & Thornburg LLP, which may not be disseminated or disclosed to any person or entity other than the intended recipient(s), and may not be reproduced, in any form, without the express written consent of the author or presenter The information on this page is @BTLawNews 3 THORNBURG LLP intended for informational purposes only and shall not be construed as legal advice or a legal opinion of Barnes & Thornburg LLP. 2016 Finally Some Changes at Sears sears

LOWEST PRICE EVER

Tall Till Power Strip Soft Close Slides

SAVE $450 '64998 4 Craftsman 52-in. 18-drawer ball-bearing tool chest With soft close drawers, deep capacity lid and power strip. 10-yr. limited warranty. 00958650/1 See sears.com for warranty details. Also available online in black 00958652/3

CONFIDENTIAL C) 2017 Barnes & Thornburg LLP. All Rights Reserved. This page, and all information on it, is confidential, proprietary and the BARNES & property of Barnes & Thornburg LLP, which may not be disseminated or disclosed to any person or entity other than the intended recipient(s), 4 and may not be reproduced, in any form, without the express written consent of the author or presenter. The information on this page is @BTLawNews • • THORN BURG LLP intended for informational purposes only and shall not be construed as legal advice or a legal opinion of Barnes & Thomburg LLP.

- AArl

Holiday Ads of Chinese/Vietnamese Product at 2012-2016

- ' -, • LI 10 LEST --7*-""'"'"- '"-- ' IGHT TOOLS I • . ..AF:;.- -T :! 1 : "•!. P,-... DOV-AIT. ! A.. jp I ....._ , 1 ' _ iiiI11111 ' ' • '4 ,: ,— :::... r _NV:, ...... * — _ . ---=- ..-. . . . 74.7„,....poo..... ----" SPECIAL . — • ... _ . .... — ----i .-----. , , ,.../...., --i ' 11...... E $248 liSPE-CIAL SPECIAL i my SPEOIAL

!".. WAS SA90 698 . J - ITOMAVAll=? iiFZEME-, • 298 :11:2==ialger " c-tv . Iii•LAIW611. MIL TOOL CI.1.1- coo., 52" 10-DRAWER 2D MOBILE WORK CENTER =n opt.. • 16.732 ...r, aturage capac., SIOS swum www. 2012 — Black out Design / 2014 — Tall Tills, New Brands Gas Struts on 27" Combo

1 '

i 1 Adjustable-height, i , ,!, . • 4 ,_ , : sliding pegboard back linc,..141. Mr wail i ----.„.. • 1 80. 11-DRAWER ------t ---.. --- 1 la T MOBILE e0 , . ,.,,L1.. . n E ...7.7717_ , , storage capaoitY ' ..-____ MO1671986/ Ti.fs 5441sew* Prod, 0000 ani rh,T.; g.t.r.r.sZt," V acloh,litrati tlittore - $348 ,A=t1711'100' 2 0 (co Aj l - .,-f i 2015 — Workbench with Pegboard Attachments Soft Close Drawer Slides / Pegboard / Security Drawer 2016 — Adjustable Height Work Bench / Large / Magnetic Walls / Power Strips with USB ports Format Workstations

CONFIDENTIAL © 2017 Barnes & Thornburg LLP. All Rights Reserved. This page, and all information on it, is confidential, proprietary and the M • BARNES & property of Barnes & Thornburg LLP, which may not be disseminated or disclosed to any person or entity other than the intended recipient(s), and may not be reproduced, in any form, without the express written consent of the author or presenter. The information on this page is ©BTLawNews • Ill THORNBURG LLP intended for informational purposes only and shall not be construed as legal advice or a legal opinion of Barnes & Thornburg LLP

Holiday Ads of Chinese Product at Lowe's and Menards 2015-2016

AlROIL Tim CHI 11111111011111M la at MENARDs:com AlLs— Tool Chests , e+.or•r, LIFETIME N

30" Grego 41 57" Toot Cabinetet srm Cabineto$ 5W j Sale $ 69u Sale 49 • p•rdokA onorretrit nosialant IA** wawa s o t.. Group Pdoe "Or"g Orri PC.41Pt cadt9 Iftim .1 100 4? c•oinotay Group Price • 140,1$ • Hardened Mewl lubulat W. hated* • Fu4 *'WTpronan 100 MINIM $ 5 9 9 was $898 $898 was $1178 * 14"",rimet:Ild'itirdebullemidirlibmi'Mto '500tialigoet• r...wobs."4"6"1""potraginioslid" maw, • 5-1- 00 • 18-1'4"1.-1:310 1 7H :AVIAN Opp mat se dew pxoss. $249 was $349 $399 was 9499 Complete your Cobtnet Pawalor diem $219 41-in 9-Drawer Whits Steel Tool Chest 41-in ae06:193 9-Drawer Stainless Steel Tool Chest Combo by adding the • Wild s 7cD • 72-11 246- ler, 4538542 Sr 8-Drawer 'lop Chell GLIFOrsort NMI** Cabin*, 1330 $350 was SW $499 was s„, 41-in 11-Drawer available by special order WO 10-30411 34s itee While Steel Polling 41-In • 30.1,21N • Too: Chest .1309394 It-Drawer Stateless Steel Roli.ng 1 week1 Tool Chest 0538540 In approxtmalety i 8-Orviwer CAW 499 NIMONNIS • • .14 a 1,8-3,41.1 AL•4 . • _ •••vmigt ••• MIN Lowe's 2016 — New colors / Tall Till Menards 2015 — Fingerprint-resistant surface / tall-till design

CONFIDENTIAL © 2017 Barnes & Thornburg LLP. All Rights Reserved. This page, and all infonnation on it, is confidential, proprietary and the • BARNES & property of Barnes & Thornburg LLP, which may not be disseminated or disclosed to any person or entity other than the intended recipient(s), and may not be reproduced, in any form, without the express written consent of the author or presenter. The information on this page is @BTLawNews 6 • - THORNBURG up intended for informational purposes only and shall not be construed as legal advice or a legal opinion of Barnes & Thornburg LLP.

Husky 66.3" W 12-Drawer Mobile Workbench

Quote from Mr. Nictakis, CEO of Waterloo, at the Staff Conference: "Traditional retailers don't sell industrial".

• #1 tool chest on homedepot.com since 2014

- lig Husky tit I. TrAi • • • • t • Available in select The Home 66 in. W 24 in, D 12-Drawer Heavy-Duty Mobile Workbench, Black 14noisr Our are-vier- Customer I Depot stores Customer Reviews

* (1orri Write . ksviess

4.5 * Customer images 3 • 'in

• 4.5 stars out of 5 with 279 1 * • It 21111111111111'

oNry 4.4 tiocommend 92% TN% Product Wire 4.H reviews 2-5$ ut 222 mieer.

CONFIDENTIAL CO 2017 Barnes & Thornburg LLP. All Rights Reserved. This page, and all information on it, is confidential, proprietary and the • BARNES & property of Barnes & Thornburg LLP, which may not be disseminated or disclosed to any person or entity other than the intended recipient(s), and may not be reproduced, in any form, without the express written consent of the author or presenter. The information on this page is 110, @BTLawNews 7 • THORNBURG LIT intended for informational purposes only and shall not be construed as legal advice or a legal opinion of Barnes & Thornburg LLP. 56" W In-Scope & Out-of-Scope Comparison

11 DRAWER INDUSTRIAL CABINET M ZIMI 0 o

400 LIS 861811187111131rt 112 L10. 49L.1(4801•01., 11 DRUM MEI 11 s!!Ing," 18 GAUGE Mil =MN 18 GAN! 149" PRICE '4 805

56" W 19-Drawer Tool Chest & Cabinet Set 56" W 23-Drawer Tool Chest & Cabinet Set

Brand U.S. General Husky

Retailer Harbor Freight The Home Depot

Steel Thickness 16 ga. Body 19 ga. Body

Dimensions 56" W x 22" D x 63" H 56" W x 20" D x 64.9" H

Net Weight Top Chest: 260Ibs 542Ibs total Bottom Cabinet: 400Ibs

Features Includes drawer liners, 6" x 2" casters Premium soft-close drawer slides, integrated power strip with 8 outlets & 2 USB ports, rechargeable magnetic LED light, drawer liners

Retail Price $409.99 (Top Chest) + $749.99 (Cabinet) = $1,159.98 $998

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CAT 27" W Tool Chest Made by Waterloo

• Caterpillar is the world's leading manufacturer of HOME INDUSTRIAL TOOL STORAGE construction & mining 4 • INDUSTRIAL TOOL STORAGE • equipment, diesel & • • natural gas engines, Order from an Industrial Distributors industrial gas turbines & Cat industrial tool chests and cabinets feature more drawers with double sets of slides, heavier drawer load ratings, and additional diesel-electric graph ic& in ilmoolmammumi.t, locomotives. Please contact the manufacturer for additional information or to become an industrial distributor. Waterloo Industries is an official licensee of Caterpillar Inc. 6 1 ii- 11 1 Please visit one of our industrial distributors to purchase Cat tool • Licensed industrial brand storage C & H Distribution on in-scope products MAC& iN THFUSA being sold at retail locations & clubs.

CONFIDENTIAL © 2017 Barnes & Thornburg LLB_ All Rights Reserved. This page, and all information on it, is confidential, proprietary and the II • BARNES & property of Barnes & Thornburg LLP, which may not be disseminated or disclosed to any person or entity other than the intended recipient(s), and may not be reproduced, in any form, without the expre5s written consent of the author or presenter. The information on this page is @BTLawNews 9 • MI THORN BURG LIP intended for informational purposes only and shall not be construed as legal advice or a legal opinion of Barnes & Thornburg UP. Shanghai Homsteel Samples:

Waterloo 2000 Series 41 in Combination Homsteel 3000 Series 41 in Combination 41inW x 18inD x 58.75in H Stainless Steel and Powder Coated 41inW x 18inD x 63.5in H 245 lbs 351 lbs CONFIDENTIAL 0 2017 Barnes & Thornburg LLP. All Rights Reserve. This page, and all information on it, is confidential, proprietary and the • BARNES & property of Barnes & Thornburg LLP, which may not be disseminated or disclosed to any person or entity other than the intended recipient(s), and may not be reproduced, in any form, without the express written consent of the author or presenter. The information on this page is @BTLawNews 10 • THORNBURG LLP intended for informational purposes only and shall not be construed as legal advice or a legal opinion of Barnes & Thornburg LLP. Shanghai Homsteel Lowes Item number 698558 56in W x 20in D x 65.5in H

Industrial scope exclusion This combination

Weight requirement for 56 in: Chest 270 lbs Cart Chest 250 Cart 350 Combo 600 340 Combo weight: 610 pounds

Gauge of steel for body: .047 in 18 gauge (between 17 & 18g)

Depth of body > 21 inches 20 inches 1. This product exceeds the weight requirement 2. This product is purchased >80% for industrial use per customer report

CONFIDENTIAL 2017 Barnes & Thornburg LLP. All Rights Reserved. This page, and all information on it, is confidential, proprietary and the I • BARNES & property of Barnes & Thornburg LLP, which may not be disseminated or disclosed to any person or entity other than the intended recipient(s), and may not be reproduced, in any form, without the express written consent of the author or presenter. The information on this page is 111, ©BTLawNews 11 • U THORN BURG LLP intended for informational purposes only and shall not be construed as legal advice ore legal opinion of Barnes & Thornburg LLP. Lowes in-stock line up 2010-2016

11,111.11.1111NIV Shanghai Homsteel

Lowe's in stock line up 2017

1000 series 2000 Series 3000 Series (Waterloo did not quote) Waterloo Industries Shanghai Homsteel A

2016- Line Review was held. Waterloo quoted the 1-2000 series but did not quote the 3000 series. Homsteel and others quoted the line. Waterloo's pricing and domestic distribution model were more competitive than Homsteel. Waterloo, Homsteel and competitors have been awarded promotions as well as in-line product. Lowe's expanded their line and awarded the additional business to Waterloo.

CONFIDENTIAL 0 2017 Barnes & Thornburg LLP. All Rights Reserved. This page, and all information on it. is confidential, proprietary and the • • BARNES & property of Barnes & Thornburg LLP, which may not be disseminated or disclosed to any person or entity other than the intended recipient(s), and may not be reproduced, in any form, without the express written consent of the author or presenter. The information on this page is @BTLawNews 12 • THORNBURG LLP intended for informational purposes only and shall not be construed as legal advice or a legal opinion of Barnes & Thornburg LLP. IrIcrostutzle Stanley/Waterloo Acquisition Timeline

• 2012: Fortune Brands segregates Waterloo from its portfolio and puts it up for sale. Reduces product offering and investment. Uncertainty forced Waterloo's customers to find alternative sources. • 2015: Fortune Brands sells Waterloo to AFI (New York Private Equity) • 2016: Sears starts shopping Craftsman Brand • January 2017: Sears Announces Agreement to Sell Craftsman to Stanley • March 27, 2017: Stanley Buys Craftsman THEN — ONLY TWO WEEKS LATER... • April 11, 2017: Waterloo Files AD/CVD Case (scope and domestic industry excludes so-called "industrial" boxes made by Stanley companies , , Lista and Vidmar) • May 22, 2017: Waterloo Excludes Service Carts from DOC Scope (this is a major product imported by Mac Tools, a Stanley company) • July 27, 2017: Stanley buys Waterloo from AFI. Purchase not disclosed in SEC filings. • September 8, 2017: Waterloo informs ITC of acquisition by Stanley (in comments on draft questionnaire)

CONFIDENTIAL © 2017 Barnes & Thornburg LLP. All Righls Reserved. This page, and all information on it, is confidential, proprietary and the IN BARNES & property of Barnes & Thornburg LLP, which may not be disseminated or disclosed to any person or entity other than the intended recipient(s), and may not be reproduced, in any form, without the express written consent of the author or presenter. The information on this page is ©BTLawNews 13 • THORNBURG LLI' intended for informational purposes only and shall not be construed as legal advice or a legal opinion of Barnes & Thornburg LLP.