Leonardo S.p.A.

GLEIF (LEI 529900X4EEX1U9LN3U39, checked 2026-09-10, ISINs IT0003856405 and ADR US52660W1018) reports no parent -- expected for a widely-held listed company with a state minority (not majority) stake, not a corporate-parent relationship. Ministero dell'Economia e delle Finanze (MEF) is confirmed as largest shareholder at ~30.204% per Leonardo's own 2026-05-07 shareholders-meeting press release (below the 50% control threshold, but MEF holds effective control via golden-power rules and board-appointment rights under Italian law). No parent_slug set -- MEF is a government ministry, not a corporate group with a dossier in this corpus.

Every exposure is read as a buyer dependency; the top 3 are its binding chokepoints.

Dossier discloses a dysprosium, terbium or samarium material exposure directly — A61 §1(2) names Dy/Tb-containing NdFeB and SmCo magnets by element.

A61's suspension (Announcement 70) lapses 10 Nov 2026 — on the plain text, controls revive automatically. The US DoD CN/RU/IR/KP sourcing bar follows 1 Jan 2027. See the underlying extraterritorial export-control action. We supply the provenance file; we never compute your ratio for you.

As a buyer, policy pressure across its consumed materials is rising.

Descriptive trend in official policy actions on this company’s materials — a policy-pressure trend, not a price or trading signal. No forward probability is implied. Direction is measured on actions we have discovered, and discovery lags events: where the recent window is too thin to support a calm reading, the row says coverage-limited instead of easing.

No actions in the register have named or swept this company in the last 24 months.