Cooper Standard Updates Purpose, Mission and Values for Evolving Market

To better leverage its culture, capabilities and resources for future growth and to further align with the interests of all its stakeholders in rapidly evolving global markets, Cooper Standard (NYSE: CPS) has re-defined its formal Purpose, Mission and Values statements.

'Since 2013, Cooper Standard has clearly defined its Purpose, Mission and Values to provide clarity and inspiration for all stakeholders,' said Jeffrey Edwards, chairman and CEO, Cooper Standard. 'To ensure these statements remain aligned with our culture and the needs of our key stakeholders, we thoughtfully re-examine them every few years. In 2021, through a series of workshops, the Cooper Standard Global Leadership Team assessed our culture and, with the help of employee feedback, updated the Company's Purpose, Mission and Values statements to provide guidance and alignment for our team worldwide.'

According to Cooper Standard, its new statement of Purpose - 'Creating Sustainable Solutions Together' - consists of four important words:

• Creating: The Company is developing game-changing advancements in materials science and product innovations;
• Sustainable: Cooper Standard delivers continued business viability and reduction of its environmental footprint;
• Solutions: Cooper Standard delivers high-quality products and services to its stakeholders; and
• Together: The Company partners with all its stakeholders to create a better tomorrow.

The Company's updated Mission statement is 'Be the First Choice of the Stakeholders We Serve.' According to Edwards, this reflects Cooper Standard's Mission to be the first choice of each of its stakeholder groups - customers, employees, investors, suppliers and the communities in which it operates - by living its Core Values and demonstrating its capabilities to meet or exceed expectations.

Cooper Standard's Values are the foundation of its culture. These non-negotiable beliefs are modeled in all business interactions. The Company's six updated Value statements include:

• Safety First: Ensuring a physically and psychologically safe workplace, with a focus on environmentally responsible materials, products and procedures;
• Collaboration Drives Success: Building partnerships, interacting with transparency and aligning resources to meet shared objectives;
• Integrity Always: Consistently acting in an honest, ethical and responsible manner;
• Diversity Makes Us Stronger: Creating a global workforce that reflects a broad range of human differences; leveraging the uniqueness of every team member; and nurturing an inclusive culture where each employee feels they belong and are valued;
• Commitment to Excellence: Holding ourselves and each other to high standards and always striving to do better through courage, creativity, perseverance and discipline; and
• Respect for All: Sustaining an encouraging, caring and supportive environment by listening with an open mind, speaking thoughtfully and treating others with dignity.

'Together, our updated Purpose, Mission and Values statements reflect our unique culture and Cooper Standard's ability to serve its stakeholders in the new, evolving future,' said Edwards. 'It is this culture that will help us navigate industry challenges and emerge even stronger, together.'

For more information about Cooper Standard's Purpose, Mission and Values, and the culture they cultivate, please visit: https://www.cooperstandard.com/company/about-us/our-purpose.

About Cooper Standard

Cooper Standard, headquartered in Northville, Mich., with locations in 21 countries, is a leading global supplier of sealing and fluid handling systems and components. Utilizing our materials science and manufacturing expertise, we create innovative and sustainable engineered solutions for diverse transportation and industrial markets. Cooper Standard's approximately 23,000 employees are at the heart of our success, continuously improving our business and surrounding communities. Learn more at www.cooperstandard.com or follow us on Twitter @CooperStandard.

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Contact Details

Chris Andrews

+1 248-596-6217

candrews@cooperstandard.com

Company Website

https://www.cooperstandard.com/