News Hub | News Direct

Trust Through Transparency: How AutoTechIQ Is Rebuilding Consumer Confidence In The Auto Repair Industry

Benzinga

When you google ‘trust,’ you’ll find “ Firm belief in the integrity, ability, or character of a person or thing; confidence or reliance. ” Surveys reveal that nearly half of car owners think auto repair shops overcharge them. In fact, more than half would like a better explanation of the condition, cause, and correction to make sure they know whether the money spent is a good investment in the safety, driveability, and longevity of their vehicle. AutoTechIQ.com addresses this uncertainty by adding vehicle-specific education content and recommending auto repair businesses certified by AutoTechIQ. A new way of gaining trust Digital inspection and communication tools have created a platform for car owners to address concerns about overpaying. The traditional trust in the shop to provide a safe and reliable means of transportation is accompanied by clear and transparent education for car owners to make decisions based on well-documented findings. They are the basis for a budget and appointment schedule for future visits. How does transparency create trust? Assume your car smells like burning oil, and it is hard for you to pinpoint the source, so you drop off your car at a repair shop. Modern shops will perform a Digital Vehicle Health Inspection, which not only documents the testing of your concern but adds 35-50 topics for a full bill of health. For example, in the case image below, a transaxle seal dripping was causing a burning oil smell; the red arrows and text document the details. Red arrows point out the leak, and the text provides The condition (the smell), The cause (the shaft seal is leaking.), and The correction (the seal needs to be replaced). This documentation provides complete transparency and, applied to all topics, will make you ask for a quote. You'll be more confident that the shop will perform high-quality work. Car Owners like me experience the same Another element of trust is people’s decisions who are in a similar or identical situation. For example, buying products and services online is almost unthinkable without reading reviews. Consumers not only browse the good and bad reviews but also prioritize reviews by people in the same situation, like car owners experiencing the same symptom and who drive the same vehicle type. AutoTechIQ.com will show, per symptom, how many car owners driving the same vehicle type have experienced the same symptom and what potential fixes auto repair shops perform to fix it. Since similar symptoms don’t mean a single fix, the website lists all typical and potential repairs to make you confident about what to discuss with your trusted auto repair shop. You can explore an example of the burning oil smell here: https://www.autotechiq.com/symptom/my-car-smells-like-burning-oil. Can I repair the car myself to eliminate a problem? Most symptoms need a professional inspection, test and/or diagnosis to pinpoint the cause. A key element of today’s auto repair is the ability of the shop’s service advisor to educate the customer about why the repair needs to happen and what safety, cost avoidance, and environmental impact it imposes. Then, with a list of options on the table, the customer can decide the best outcome for their vehicle and their goals. AutoTechIQ has introduced three certification levels for the shops near you: Certified Business Recommended Business Business in Good Standing All levels require at least 100 Google Reviews with an average score of 4.5 and higher. Certified businesses conduct a Digital Auto Checkup on every vehicle and recommend the right approach for longevity, reliability, and driveability instead of just replacing parts and correcting the car’s symptoms. Then, you ultimately choose what is budget-friendly for you. More details can be found here. Also, note that recommended businesses conduct a Digital Vehicle Health Inspection but have not been certified yet. A high level of transparency eases your concern about overpaying or not having the correct diagnosis. AutoTechIQ.com is extracting symptoms and fixes from millions of work orders across North America and making the results available to you in an easy-to-digest way and with a minimum of the technical lingo experts often say. How do I find the best professional auto repair shop for my car? There has been a significant change in how former ‘mom-and-pop’ shops focus on repairing vehicles after becoming professional businesses. Now, they focus on helping you determine your vehicle's best outcome by meeting your goals for longevity and dependability. This approach spans longer than just one visit. Check the auto repair shops near you! Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

November 08, 2022 01:14 PM Eastern Standard Time

Image

ConsumerCoverage Partners With Top Carriers to Provide Insurance and Safe-Driving Resources to Riders Nationwide

ConsumerCoverage

Whether you love motorcycles or live motorcycles, ConsumerCoverage has you covered. Over the last two years, this ground-breaking insurtech company has already enhanced the lives of millions of consumers by providing them with opportunities and support to make informed choices about their coverage. “The move to motorcycle insurance seemed like the next logical step,” says Hollay Ghadery, ConsumerCoverage VP of Communications. “Not only do many of us ride, but we know that more and more people are swapping four wheels for two. It’s better for the environment, cheaper, and let’s be honest, way more fun. So for the millions of people like us, getting the right protection has never been more important.” Insurance Matters as Motorcycle Registrations Double The number of on-road motorcycles registered in the U.S. has been increasing throughout the years, doubling from 4.2 million in 2002 to 8.3 million in 2018. As of 2021, there are over 8.5 million registered motorcycles in the U.S. With this growth comes an increased risk of accidents—many of which are caused by other drivers: drivers of cars and trucks who aren’t paying attention. In fact, numerous studies have shown that motorcyclists are the safest drivers on the road, outperforming other motorists when it comes to road safety, identifying road signs, and overtaking safely. The reason for these superior driving skills is simple: motorcyclists don’t have the exterior protection of a car or truck, so their lives depend on them being aware of their surroundings. But they still need insurance. “That’s why we’re dedicated to providing motorcyclists with the best information to keep them safe while helping them save,” says Ghadery. “Recently, we’ve started a series of blogs about motorcycle insurance and will be producing videos to further educate riders about their options. We’re also looking to form partnerships with industry experts—whether they’re based on advertising, sponsorship, collaboration, or revenue opportunities. Our goal is to help people get covered, and stay safe.” If you’re interested in working with ConsumerCoverage, contact Hollay Ghadery at hollay@consumercoverage.com. For more information about ConsumerCoverage and their motorcycle insurance resources, visit www.consumercoverage.com. About ConsumerCoverage Founded in 2020, ConsumerCoverage is a next-generation InsurTech company connecting consumers with free quotes and the intel they need to make informed decisions about insurance. Their Agent Marketplace provides insurance agents with high-intent consumers, using advanced technology and human experience to deliver unparalleled lead gen. The result is a cutting-edge platform that better serves people looking for insurance, as well as businesses and individuals looking to affordably maximize their lead acquisition by up to 5x. Visit ConsumerCoverage.com. Contact Details Hollay Ghadery hollay@consumercoverage.com Company Website https://www.consumercoverage.com/

November 08, 2022 09:00 AM Eastern Standard Time

Cooper Standard Adopts Tax Benefits Preservation Plan to Protect its Tax Benefits and Shareholder Value

Cooper Standard

Cooper-Standard Holdings Inc. (“Cooper Standard” or the “Company”) (NYSE: CPS) today announced that its Board of Directors (the “Board”) adopted a tax benefits preservation plan (the “Rights Agreement”) in an effort to protect stockholder value by attempting to protect against a possible limitation on the Company’s ability to use its net operating losses, any loss or deduction attributable to a “net unrealized built-in loss” and other tax attributes (collectively, “Tax Benefits”) under the Internal Revenue Code (the “Code”). As of September 30, 2022, Cooper Standard’s estimated U.S. Tax Benefits are approximately $130 million, which may be available to offset its future taxable income. The Company views its Tax Benefits as highly valuable assets, which are likely to inure to the benefit of the Company and its stockholders. However, if the Company experiences an “ownership change,” as defined in Section 382 of the Code, its ability to use the Tax Benefits could be substantially limited, and the timing of the usage of the Tax Benefits could be substantially delayed, which could significantly impair the value of the Tax Benefits. Generally, an “ownership change” occurs if the percentage of the Company’s stock owned by one or more “five percent stockholders” increases by more than fifty percentage points over the lowest percentage of stock owned by such stockholders at any time during the prior three-year period or, if sooner, since the last “ownership change” experienced by the Company. The Rights Agreement is intended to act as a deterrent to any person acquiring 4.9% or more of the outstanding shares (an “acquiring person”) of the Company’s common stock without the approval of the Board. This would protect the Tax Benefits because changes in ownership by a person owning less than 4.9% of the common stock are not included in the calculation of “ownership change” for purposes of Section 382 of the Code. The record date for the distribution of the rights is November 17, 2022. Under the Rights Agreement, the rights will initially trade with the Company’s common stock and will generally become exercisable only if a person (or any persons acting as a group) acquires 4.9% or more of the Company’s outstanding common stock. If the rights become exercisable, all holders of rights (other than any triggering person) will be entitled to acquire shares of common stock at a 50% discount. Under the Rights Agreement, any person who currently owns 4.9% or more of the Company’s common stock may continue to own its shares of common stock but may not acquire any additional shares without triggering the Rights Agreement. Under the Rights Agreement, the Board has the discretion to exempt any transaction and to exempt any person (or group of persons) from the provisions of the Rights Agreement. The rights expire, unless earlier terminated, on the earliest to occur of: (i) November 6, 2025; (ii) the time at which the rights are redeemed; (iii) the time at which all exercisable rights are exchanged; (iv) November 6, 2023, if the approval of the Company’s stockholders of the Rights Agreement has not been obtained by that date; (v) the repeal of Section 382 of the Code if the Board determines that the Rights Agreement is no longer necessary or desirable for the preservation of the Tax Benefits; or (vii) the time at which the Board determines that the Tax Benefits are fully utilized or no longer available under Section 382 of the Code. Additional information about the Rights Agreement is available on a Form 8-K filed by Cooper Standard with the U.S. Securities and Exchange Commission. 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. Forward-Looking Statements This press release includes “forward-looking statements” within the meaning of U.S. federal securities laws, and we intend that such forward-looking statements be subject to the safe harbor created thereby. Our use of words “estimate,” “expect,” “anticipate,” “project,” “plan,” “intend,” “believe,” “outlook,” “guidance,” “forecast,” or future or conditional verbs, such as “will,” “should,” “could,” “would,” or “may,” and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements are based upon our current expectations and various assumptions. Our expectations, beliefs, and projections are expressed in good faith and we believe there is a reasonable basis for them. However, we cannot assure you that these expectations, beliefs and projections will be achieved. Forward-looking statements are not guarantees of future performance and are subject to significant risks and uncertainties that may cause actual results or achievements to be materially different from the future results or achievements expressed or implied by the forward-looking statements. Among other items, such factors may include: Volatility or decline of the Company’s stock price, or absence of stock price appreciation; impacts, including commodity cost increases and disruptions related to the war in Ukraine and the current COVID-related lockdowns in China; our ability to offset the adverse impact of higher commodity and other costs through negotiations with our customers; the impact, and expected continued impact, of the COVID-19 outbreak on our financial condition and results of operations; significant risks to our liquidity presented by the COVID-19 pandemic risk; prolonged or material contractions in automotive sales and production volumes; our inability to realize sales represented by awarded business; escalating pricing pressures; loss of large customers or significant platforms; our ability to successfully compete in the automotive parts industry; availability and increasing volatility in costs of manufactured components and raw materials; disruption in our supply base; competitive threats and commercial risks associated with our diversification strategy through our Advanced Technology Group; possible variability of our working capital requirements; risks associated with our international operations, including changes in laws, regulations, and policies governing the terms of foreign trade such as increased trade restrictions and tariffs; foreign currency exchange rate fluctuations; our ability to control the operations of our joint ventures for our sole benefit; our substantial amount of indebtedness and variable rates of interest; our ability to obtain adequate financing sources in the future; operating and financial restrictions imposed on us under our debt instruments; the underfunding of our pension plans; significant changes in discount rates and the actual return on pension assets; effectiveness of continuous improvement programs and other cost savings plans; manufacturing facility closings or consolidation; our ability to execute new program launches; our ability to meet customers’ needs for new and improved products; the possibility that our acquisitions and divestitures may not be successful; product liability, warranty and recall claims brought against us; laws and regulations, including environmental, health and safety laws and regulations; legal and regulatory proceedings, claims or investigations against us; work stoppages or other labor disruptions; the ability of our intellectual property to withstand legal challenges; cyber-attacks, data privacy concerns, other disruptions in, or the inability to implement upgrades to, our information technology systems; the possible volatility of our annual effective tax rate; the possibility of a failure to maintain effective controls and procedures; the possibility of future impairment charges to our goodwill and long-lived assets; our ability to identify, attract, develop and retain a skilled, engaged and diverse workforce; our ability to procure insurance at reasonable rates; and our dependence on our subsidiaries for cash to satisfy our obligations; and other risks and uncertainties, including those detailed from time to time in the Company’s periodic reports filed with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements. Our forward-looking statements speak only as of the date of this press release and we undertake no obligation to publicly update or otherwise revise any forward-looking statement, whether as a result of new information, future events or otherwise, except where we are expressly required to do so by law. This press release also contains references to estimates and other information that are based on industry publications, surveys and forecasts. This information involves a number of assumptions and limitations, and we have not independently verified the accuracy or completeness of the information. CPS_F Contact Details Contact for Analysts: Roger Hendriksen +1 248-596-6465 roger.hendriksen@cooperstandard.com Contact for Media: Chris Andrews +1 248-596-6217 candrews@cooperstandard.com Company Website https://www.cooperstandard.com/

November 07, 2022 04:06 PM Eastern Standard Time

Volatus Aerospace Corp. Announces Record Third Quarter 2022 Revenue of $11.12MM

Volatus Aerospace Corp.

Volatus Aerospace Corp. (TSXV: VOL) (OTCQB: VLTTF) ("Volatus" or "the Company"), a global leader in the drone industry, is pleased to announce its financial results for the quarter ending September 30, 2022 ("Q3 2022"). The Company generated revenue of $22,558,010 in the first nine months of 2022. Revenue for Q3 2022 was $11,120,589 an increase of 68% over the previous quarter and a 238% increase over the same quarter in the prior year. The revenue increase in Q3 2022 was driven by organic growth, scale in drone services activities, and increased aviation revenue. Gross profit for Q3 2022 was $3,329,444 an increase of $2,597,024 over the same period in 2021. The increase in gross profit was due to the scale of drone services and aviation revenue. The Company has experienced a gross margin of 30%, representing an increase of 127 basis points over the second quarter of 2022. Volatus recorded a comprehensive loss of ($352,206). This was due to increased investment in human resources in the defense and integrated solutions segments, expansion in the UK, increased share-based payments, and increased advertisement and marketing expenses. The cash on hand as of Sept 30, 2022, was $6,021,163. In a subsequent event, the Company raised additional cash of $4,226,772 from the oversubscribed prospectus and private placement offering that closed on Oct 6, 2022. Notable Operational Accomplishments During the Quarter: Continued delivery of ISR (Intelligence, Surveillance, and Reconnaissance) Drones to Ukraine Introduced a subsidized Customer Financing Program for rapid drone adoption in the commercial segment in partnership with Mitsubishi HC Capital Canada. Secured remote BVLOS (Beyond Visual Line of Sight) approval to operate a drone, using an optical technology for detection and avoidance of aircraft without a visual observer, inside the airspace of an active airport. Demonstrated remote flight operation of two drones located in Las Vegas by a pilot located in the company’s remote operations center more than 3,000 km away in Canada. Entered into a strategic partnership with a radar company - Accipiter Radar Technologies Inc. - to scale BVLOS operations. Continued delivery on our “Profit with Purpose” initiative by completing RPAS technical skills training program with Moose Cree First Nation. Launched our Environment Social and Governance (ESG) initiative to assist various industries achieve their ESG goals by reducing Scope 3 emissions. “Q3 was an important quarter for Volatus as we continued to scale our investment in the defense sector and higher margin Engineered Solutions,” said Glen Lynch, CEO of Volatus. “The quarter also marked the beginning of a transition for our Aviation division as we moved away from passenger activities towards cargo and long linear inspections where drones and eVTOLS’s (electric vertical takeoff and landing vehicles) have a much larger role to play.” Webinar In conjunction with this release, Volatus investor relations will host a webinar on Monday, November 7 th at 4:30 PM EST at which time Glen Lynch, Chief Executive Officer, and Abhinav Singhvi, Chief Financial Officer, will review the quarterly results and major milestones with Danielle Gagne, Head of Corporate Communications as moderator. Investors are invited to register for the webinar here. https://us06web.zoom.us/webinar/register/WN_uAeXAvY2SySzMEJf8FIi5g Audio Replay Options An audio replay of the event will be archived on the Investor Relations page of the company's website here. About Volatus Aerospace: Volatus Aerospace Corp. is a leading provider of integrated drone solutions throughout North America and growing into Latin America and globally. Volatus serves civil, public safety, and defense markets with imaging and inspection, security and surveillance, equipment sales and support, training, as well as R&D, design, and manufacturing. Through our subsidiary, Volatus Aviation, we are introducing green and innovative drone solutions to supplement and replace traditional aircraft and helicopters for long-linear inspections such as pipeline, energy, rail, and cargo services. Volatus is committed to carbon neutrality; the fostering of a safe, equitable and inclusive workplace; and responsible governance. Forward-Looking Information This news release contains statements that constitute “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs, and current expectations of the Company with respect to future business activities and operating performance. Often, but not always, forward-looking information and forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results “may”, “could”, “would”, “might” or “will” (or other variations of the foregoing) be taken, occur, be achieved, or come to pass. Forward-looking information includes information regarding: (i) the business plans and expectations of the Company; and (ii) expectations for other economic, business, and/or competitive factors. Forward-looking information is based on currently available competitive, financial, and economic data and operating plans, strategies, or beliefs as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to the Company, including information obtained from third-party industry analysts and other third-party sources, and are based on management’s current expectations or beliefs. Any and all forward-looking information contained in this news release is expressly qualified by this cautionary statement. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Forward-looking information and forward-looking statements reflect the Company’s current beliefs and is based on information currently available to it and on assumptions it believes to be not unreasonable in light of all of the circumstances. In some instances, material factors or assumptions are discussed in this news release in connection with statements containing forward-looking information. Such material factors and assumptions include, but are not limited to: the commercialization of drone flights beyond visual line of sight and potential benefits to the Company; and meeting the continued listing requirements of the TSXV. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. The forward- looking information contained herein is made as of the date of this news release and, other than as required by law, the Company disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release. Source: Volatus Aerospace Corp. TSXV: VOL Contact Details Abhinav Singhvi +1 514-447-7986 abhinav.singhvi@volatusaerospace.com Company Website https://volatusaerospace.com

November 07, 2022 06:32 AM Eastern Standard Time

Anna Demeo joins Vehicle-to-Everything Leader Fermata Energy as Chief Product Officer

Fermata Energy

Fermata Energy, the leader in vehicle-to-everything (V2X) charging systems, today announced it has named Anna Demeo, PhD, as the company’s first Chief Product Officer. In this role, Demeo will oversee R&D and the continued development of the company’s proprietary V2X bidirectional charging system. To meet the increasing demand from fleet managers, utilities and automotive OEMs, Demeo will direct the continued development of the company’s industry-defining products and platform. Day-to-day, Demeo will oversee the product, hardware, software, and data sciences teams and will work closely with Fermata Energy’s Chief Technology Officer Glenn Skutt. “Anna is well known throughout the energy sector for her leadership in bringing innovative solutions to market and for forecasting trends,” said Fermata Energy Founder and CEO David Slutzky. “Her depth of experience, wealth of knowledge, and connections in the industry will help Fermata Energy drive its innovative technology further into the EV charging and utility marketplace.” Demeo previously served as Co-founder and President of Racepoint Energy, a flexible load management and microgrid technology company. Racepoint Energy was acquired by Savant Systems, Inc., the parent company of GE Lighting and Savant Power, where she served as Savant’s Chief Technology Officer. Demeo holds a number of patents and has authored numerous articles on climate change, renewable energy, and smart grid utilization. She also serves as an Associate Professor of Sustainable Design Engineering at the University of PEI in Canada. “Fermata Energy is redefining how utilities and companies value and dispatch electric vehicles. Our V2X platform delivers a positive ROI to EV fleet operators, while affordably and quickly serving as a resource that supports grid resilience,” noted Demeo. “With projects that are earning their customers thousands of dollars per EV per year, Fermata Energy is now scaling the industry. This is an important and exciting time to join the company and work directly in this industry.” Demeo joins the Charlottesville, VA-based company shortly after it announced the upcoming release of the FE-20, the company’s newest bidirectional charger. With multiple commercial projects already successfully deployed with its FE-15 bidirectional charger, Fermata Energy is adding the second commercial charger option with the FE-20 to meet the increasing demand for V2X installations. V2X includes both vehicle-to-grid (V2G) and vehicle-to-building (V2B) projects. Fermata Energy bidirectional chargers both charge and discharge the energy stored in EV batteries and enable customers to earn revenue from their local utility while their EVs are parked. Fermata Energy has installed commercial bidirectional charging systems across the United States that are earning companies thousands of dollars per EV per year. Examples include the City of Boulder, The Alliance Center (Denver) and the Burrillville Wastewater Treatment Facility. Fermata Energy recently announced a deployment with Revel, a ride-share company in New York. About Fermata Energy. Park It. Plug It. Profit.™ Fermata Energy’s proprietary vehicle-to-everything (V2X) software platform and bidirectional chargers turn EVs into mobile energy storage assets, making it possible for EVs owners to combat climate change, increase energy resilience, and reduce energy costs. Learn more at www.fermataenergy.com, and follow us on Twitter (@FermataEnergy) and LinkedIn. Contact Details North Coast Strategies Daniel Cherrin +1 313-300-0932 dcherrin@northcoaststrategies.com Company Website https://www.fermataenergy.com

November 02, 2022 08:12 AM Eastern Daylight Time

Image

News Release

Cooper Standard Reports Strong Sales Growth and Margin Improvement in Third Quarter 2022

Cooper Standard

Cooper-Standard Holdings Inc. (NYSE: CPS) today reported results for the third quarter 2022. Third Quarter 2022 Summary Sales totaled $657.2 million, an increase of 24.8% compared to third quarter 2021 Net loss narrowed to $32.7 million or $(1.90) per diluted share compared to a net loss of $123.2 million or $(7.20) per diluted share in the third quarter 2021 Adjusted EBITDA totaled $20.5 million; adjusted EBITDA margin improved by approximately 950 basis points vs. third quarter 2021 Quarter-end cash balance of $231 million; continuing strong total liquidity of $387 million Net new business awards on electric vehicles of $27 million in the quarter and $72 million year to date; Total net new business awards of $66 million in the quarter and $124 million year to date “We were able to leverage our improving cost structure, enhanced commercial agreements and higher year-over-year industry production levels to drive positive results in the quarter,” said Jeffrey Edwards, chairman and CEO, Cooper Standard. “OEM production schedules remain erratic, however, with actual volumes still falling well short of industry forecasts and our customers' own releases. Despite this continuing challenge, we expect to deliver further operational improvements and margin expansion through the remainder of the year.” Consolidated Results The year-over-year increase in third quarter sales was primarily attributable to favorable volume and mix as well as realized recoveries of material cost inflation, which are reflected in price adjustments. These were partially offset by foreign exchange. Net loss for the third quarter 2022 was $(32.7) million, including restructuring charges of $1.7 million and other special items. Net loss for the third quarter 2021 was $(123.2) million, including restructuring charges of $1.6 million and other special items. Adjusted net loss, which excludes restructuring, other special items and their related tax impact, was $(29.5) million in the third quarter 2022 compared to $(106.4) million in the third quarter of 2021. The year-over-year improvement was primarily due to improved volume and mix, lower income tax expense and improved operating efficiencies. These were partially offset by continuing material cost inflation net of realized customer recoveries, higher labor costs and other inflationary headwinds. Adjusted net loss, adjusted EBITDA and adjusted loss per diluted share are non-GAAP measures. Reconciliations to the most directly comparable financial measures, calculated and presented in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”), are provided in the attached supplemental schedules. Automotive New Business Awards The Company continues to leverage its world-class engineering and manufacturing capabilities, its innovation programs and its reputation for quality and service to win new business awards with its customers. During the third quarter of 2022, the Company received net new business awards representing approximately $66 million in incremental anticipated future annualized sales, including $27 million of awards on electric vehicle platforms. Year to date net new business awards totaled $124 million, including $72 million on electric vehicle platforms. Since the beginning of 2020, the Company has received net new business awards on electric vehicle platforms totaling over $275 million in expected incremental annualized sales. Segment Results of Operations Sales * Net of customer price adjustments Volume and mix, net of customer price adjustments including recoveries, was driven by vehicle production volume increases due to the lessening impact of semiconductor-related supply issues. The impact of foreign currency exchange was primarily related to the Euro, Chinese Renminbi and Korean Won. Adjusted EBITDA * Net of customer price adjustments ** Net of deconsolidation Volume and mix, net of customer price adjustments including recoveries, was driven by vehicle production volume increases due to a lessening impact on customer production schedules for semiconductor-related supply issues in the current year period. The impact of foreign currency exchange was primarily related to the Euro and Brazilian Real, partially offset by the Mexican Peso. The Cost (Increases) / Decreases category above includes: Commodity cost and inflationary economics; Manufacturing efficiencies and purchasing savings through lean initiatives; Increased compensation-related expenses; and Decreased costs related to ongoing salaried headcount initiatives and restructuring savings. Cash and Liquidity As of September 30, 2022, Cooper Standard had cash and cash equivalents totaling $231.2 million. Total liquidity, including availability under the Company's amended senior asset-based revolving credit facility, was $386.9 million at the end of the third quarter. Based on current expectations for light vehicle production and customer demand for our products, the Company expects its current solid cash balance and access to flexible credit facilities will provide sufficient resources to support ongoing operations and the execution of planned strategic initiatives for the foreseeable future. The Company’s ability to meet its debt service requirements for the next twelve months is contingent upon its ability to refinance its term loan facility. The Company continues its discussions with certain investors with respect to potential refinancing alternatives. While discussions are ongoing, the Company has not reached an agreement with respect to such a transaction for refinancing its capital structure and there can be no assurances that such an agreement will be reached in the future. Outlook Industry projections for global light vehicle production growth, while still positive, have moderated over the past three months. Based on these industry projections, macroeconomic conditions, current customer production schedules and the Company's results to date, the Company is adjusting its 2022 full year guidance as follows: 2022 Guidance 1 1 Guidance is representative of management's estimates and expectations as of the date it is published. Current guidance as presented in this press release considers September 2022 S&P Global (IHS Markit) production forecasts for relevant light vehicle platforms and models, customers' planned production schedules and other internal assumptions. 2 Adjusted EBITDA is a non-GAAP financial measure. The Company has not provided a reconciliation of projected adjusted EBITDA to projected net income because full-year net income will include special items that have not yet occurred and are difficult to predict with reasonable certainty prior to year-end. Due to this uncertainty, the Company cannot reconcile projected adjusted EBITDA to U.S. GAAP net income without unreasonable effort. Conference Call Details Cooper Standard management will host a conference call and webcast on November 2, 2022 at 9:00 a.m. ET to discuss its third quarter 2022 results, provide a general business update and respond to investor questions. Investors and other interested parties may listen to the call by accessing the online, real-time webcast at https://www.ir.cooperstandard.com/events/event-details/third-quarter-2022-earnings-call. Investors, analysts and other representatives of the investment community who wish to participate by phone in the live conference and have the opportunity to ask questions during Q&A will need to pre-register for the call by visiting https://register.vevent.com/register/BI8e7acde9b14a4ad997eeb525af0c3691. Once registration is completed, participants will be provided with a dial-in number and a personalized conference code to access the call. Participants should dial in at least five minutes prior to the start of the call. A replay of the webcast will be available on the investors’ portion of the Cooper Standard website ( http://www.ir.cooperstandard.com ) shortly after the live event. 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 22,600 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. Forward Looking Statements This press release includes “forward-looking statements” within the meaning of U.S. federal securities laws, and we intend that such forward-looking statements be subject to the safe harbor created thereby. Our use of words “estimate,” “expect,” “anticipate,” “project,” “plan,” “intend,” “believe,” “outlook,” “guidance,” “forecast,” or future or conditional verbs, such as “will,” “should,” “could,” “would,” or “may,” and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements are based upon our current expectations and various assumptions. Our expectations, beliefs, and projections are expressed in good faith and we believe there is a reasonable basis for them. However, we cannot assure you that these expectations, beliefs and projections will be achieved. Forward-looking statements are not guarantees of future performance and are subject to significant risks and uncertainties that may cause actual results or achievements to be materially different from the future results or achievements expressed or implied by the forward-looking statements. Among other items, such factors may include: Volatility or decline of the Company’s stock price, or absence of stock price appreciation; impacts, including commodity cost increases and disruptions related to the war in Ukraine and the current COVID-related lockdowns in China; our ability to offset the adverse impact of higher commodity and other costs through negotiations with our customers; the impact, and expected continued impact, of the COVID-19 outbreak on our financial condition and results of operations; significant risks to our liquidity presented by the COVID-19 pandemic risk; prolonged or material contractions in automotive sales and production volumes; our inability to realize sales represented by awarded business; escalating pricing pressures; loss of large customers or significant platforms; our ability to successfully compete in the automotive parts industry; availability and increasing volatility in costs of manufactured components and raw materials; disruption in our supply base; competitive threats and commercial risks associated with our diversification strategy through our Advanced Technology Group; possible variability of our working capital requirements; risks associated with our international operations, including changes in laws, regulations, and policies governing the terms of foreign trade such as increased trade restrictions and tariffs; foreign currency exchange rate fluctuations; our ability to control the operations of our joint ventures for our sole benefit; our substantial amount of indebtedness and variable rates of interest; our ability to obtain adequate financing sources in the future; operating and financial restrictions imposed on us under our debt instruments; the underfunding of our pension plans; significant changes in discount rates and the actual return on pension assets; effectiveness of continuous improvement programs and other cost savings plans; manufacturing facility closings or consolidation; our ability to execute new program launches; our ability to meet customers’ needs for new and improved products; the possibility that our acquisitions and divestitures may not be successful; product liability, warranty and recall claims brought against us; laws and regulations, including environmental, health and safety laws and regulations; legal and regulatory proceedings, claims or investigations against us; work stoppages or other labor disruptions; the ability of our intellectual property to withstand legal challenges; cyber-attacks, data privacy concerns, other disruptions in, or the inability to implement upgrades to, our information technology systems; the possible volatility of our annual effective tax rate; the possibility of a failure to maintain effective controls and procedures; the possibility of future impairment charges to our goodwill and long-lived assets; our ability to identify, attract, develop and retain a skilled, engaged and diverse workforce; our ability to procure insurance at reasonable rates; and our dependence on our subsidiaries for cash to satisfy our obligations; and other risks and uncertainties, including those detailed from time to time in the Company’s periodic reports filed with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements. Our forward-looking statements speak only as of the date of this press release and we undertake no obligation to publicly update or otherwise revise any forward-looking statement, whether as a result of new information, future events or otherwise, except where we are expressly required to do so by law. This press release also contains estimates and other information that is based on industry publications, surveys and forecasts. This information involves a number of assumptions and limitations, and we have not independently verified the accuracy or completeness of the information. CPS_F Financial statements and related notes follow: Non-GAAP Measures EBITDA, adjusted EBITDA, adjusted EBITDA margin, adjusted net income (loss), adjusted earnings (loss) per share and free cash flow are measures not recognized under U.S. GAAP and which exclude certain non-cash and special items that may obscure trends and operating performance not indicative of the Company’s core financial activities. Net new business is a measure not recognized under U.S. GAAP which is a representation of potential incremental future revenue but which may not fully reflect all external impacts to future revenue. Management considers EBITDA, adjusted EBITDA, adjusted EBITDA margin, adjusted net income (loss), adjusted earnings (loss) per share, free cash flow and net new business to be key indicators of the Company’s operating performance and believes that these and similar measures are widely used by investors, securities analysts and other interested parties in evaluating the Company’s performance. In addition, similar measures are utilized in the calculation of the financial covenants and ratios contained in the Company’s financing arrangements and management uses these measures for developing internal budgets and forecasting purposes. EBITDA is defined as net income (loss) adjusted to reflect income tax expense (benefit), interest expense net of interest income, depreciation and amortization, and adjusted EBITDA is defined as EBITDA further adjusted to reflect certain items that management does not consider to be reflective of the Company’s core operating performance. Adjusted net income (loss) is defined as net income (loss) adjusted to reflect certain items that management does not consider to be reflective of the Company’s core operating performance. Adjusted EBITDA margin is defined as adjusted EBITDA as a percentage of sales. Adjusted basic and diluted earnings (loss) per share is defined as adjusted net income (loss) divided by the weighted average number of basic and diluted shares, respectively, outstanding during the period. Free cash flow is defined as net cash provided by operating activities minus capital expenditures and is useful to both management and investors in evaluating the Company’s ability to service and repay its debt. Net new business reflects anticipated sales from formally awarded programs, less lost business, discontinued programs and replacement programs and is based on IHS Markit forecast production volumes. The calculation of “net new business” does not reflect customer price reductions on existing programs and may be impacted by various assumptions embedded in the respective calculation, including actual vehicle production levels on new programs, foreign exchange rates and the timing of major program launches. When analyzing the Company’s operating performance, investors should use EBITDA, adjusted EBITDA, adjusted EBITDA margin, adjusted net income (loss), adjusted earnings (loss) per share, free cash flow and net new business as supplements to, and not as alternatives for, net income (loss), operating income, or any other performance measure derived in accordance with U.S. GAAP, and not as an alternative to cash flow from operating activities as a measure of the Company’s liquidity. EBITDA, adjusted EBITDA, adjusted net income (loss), adjusted earnings (loss) per share, free cash flow and net new business have limitations as analytical tools and should not be considered in isolation or as substitutes for analysis of the Company’s results of operations as reported under U.S. GAAP. Other companies may report EBITDA, adjusted EBITDA, adjusted EBITDA margin, adjusted net income (loss), adjusted earnings (loss) per share, free cash flow and net new business differently and therefore the Company’s results may not be comparable to other similarly titled measures of other companies. In addition, in evaluating adjusted EBITDA and adjusted net income (loss), it should be noted that in the future the Company may incur expenses similar to or in excess of the adjustments in the below presentation. This presentation of adjusted EBITDA and adjusted net income (loss) should not be construed as an inference that the Company’s future results will be unaffected by special items. Reconciliations of EBITDA, adjusted EBITDA, adjusted EBITDA margin, adjusted net income (loss) and free cash flow follow. Reconciliation of Non-GAAP Measures EBITDA and Adjusted EBITDA (Unaudited) (Dollar amounts in thousands) The following table provides a reconciliation of EBITDA and adjusted EBITDA from net loss: (1) Loss attributable to deconsolidation of a joint venture in the Asia Pacific region, which required adjustment to fair value. (2) Non-cash impairment charges in 2022 and 2021 related to idle assets in Europe. (3) During 2021, we recorded subsequent adjustments to the net gain on sale of business, which related to the 2020 divestiture of our European rubber fluid transfer and specialty sealing businesses, as well as its Indian operations. (4) In the first quarter of 2022, the Company signed a sale-leaseback agreement on one of its European facilities, and a gain was recognized in the second quarter of 2022. (5) Lease termination costs no longer recorded as restructuring charges in accordance with ASC 842. (6) Impact of prior period indirect tax and customs adjustments. Adjusted Net Loss and Adjusted Loss Per Share (Unaudited) (Dollar amounts in thousands except per share and share amounts) The following table provides a reconciliation of net loss to adjusted net loss and the respective loss per share amounts: (1) Loss attributable to deconsolidation of a joint venture in the Asia Pacific region, which required adjustment to fair value. (2) Non-cash impairment charges in 2022 and 2021 related to idle assets in Europe. (3) During 2021, we recorded subsequent adjustments to the net gain on sale of business, which related to the 2020 divestiture of our European rubber fluid transfer and specialty sealing businesses, as well as its Indian operations. (4) In the first quarter of 2022, the Company signed a sale-leaseback agreement on one of its European facilities, and a gain was recognized in the second quarter of 2022. (5) Lease termination costs no longer recorded as restructuring charges in accordance with ASC 842. (6) Impact of prior period indirect tax and customs adjustments. (7) Relates to the initial recognition of our valuation allowance on net deferred tax assets in the U.S. (8) Represents the elimination of the income tax impact of the above adjustments by calculating the income tax impact of these adjusting items using the appropriate tax rate for the jurisdiction where the charges were incurred and other discrete tax expense. Free Cash Flow (Unaudited) (Dollar amounts in thousands) The following table defines free cash flow: Contact Details Contact for Media: Chris Andrews +1 248-596-6217 candrews@cooperstandard.com Contact for Analysts: Roger Hendriksen +1 248-596-6465 roger.hendriksen@cooperstandard.com

November 01, 2022 05:56 PM Eastern Daylight Time

Minuteman Press Florida Franchise Owners Celebrate 15-plus Years in Business

Minuteman Press International Inc

Minuteman Press International is proud to acknowledge the following franchisees in Florida who are celebrating 15 years in business. Below you will find their insights on owning a business as well as their advice to other aspiring entrepreneurs and Minuteman Press franchise owners. Kathy Collier Alford Minuteman Press, Town ‘n’ Country, FL “I am not sure where 15 years has gone. Before I opened my shop in November 2007, I was in retail management for 25 years opening new markets all over the country. When I decided to do something different, all I knew is that I wanted to work for myself. Minuteman Press was in the Entrepreneur Franchise 500 and looked interesting. My brother originally brought Minuteman Press to my attention as I would have never thought about owning a print shop because I did not know anything about the industry. We contacted the Florida Regional VP, went on a few shop tours, and here I am 15 years later! In the beginning, Minuteman Press has a system for growing your business, and I followed it. You must get plugged in! I did not even know what networking meant. I joined and visited various local groups and met so many people in the beginning that I still print for today. I joined a Chamber of Commerce; I got involved in philanthropy groups that I never had time for in my corporate life. I got involved in the community around my shop, and all of these experiences have been super rewarding. I would never have thought that owning my own printing franchise could help me grow as a person. I learned about all of these amazing things that I did not even know were going on, and I feel super blessed. Minuteman Press also has systems in place to help with pricing and growing my customer base. The Minuteman Press FLEX software has helped tremendously; FLEX has taken us to a whole new level of technology, pricing, emailing, invoicing, etc. If I was to dole out any advice to a new owner it would be to: Teach your staff customer service and treat them right; you cannot do this alone (they are part of my family) Get to know your neighborhood, join groups, and get involved Do the things that have worked that Minuteman Press has already proven can work Build relationships and customer referrals (referrals are the best compliments you can get) Use SEO to your advantage Work hard and you will earn it!” Ken & Lisa Rose Minuteman Press, Clermont, FL Ken Rose is the former Co-Director of Training for Minuteman Press International. Ken and his wife Lisa moved to Florida and from Long Island and they have now owned Minuteman Press in Clermont for 15+ years. Ken shares the following advice that carried over from his time at Minuteman Press International that has helped him achieve success and longevity over the years as a Minuteman Press franchisee: No matter what is going on, you have to have a positive attitude Plan your day the night before and arrive early Do what you say you’re going to do, and do it (Roy Titus, co-founder, Minuteman Press International) Be proud of what you do & always tell people who you are & what you do (Roy Titus) Be active in the community through clubs and organizations, and be visible Pay yourself a fair wage (Roy Titus) Jeff Reich Minuteman Press, Cape Coral, FL Jeff Reich has been the owner of Minuteman Press in Cape Coral, FL for 15+ years. Short and sweet, the advice Jeff shares is as follows: Understand your customers' expectations and exceed them Be persistent Deliver great quality In congratulating these owners, Florida Regional Vice President Larry Trimble says, “I am thrilled to be able to celebrate these impressive milestones with Kathy, Ken & Lisa, and Jeff as well as all of the incredible Minuteman Press franchisees across Florida who have achieved such accomplishments. It is a pleasure to be able to support them with their businesses and I look forward to continuing to do so.” For more information on #1 rated Minuteman Press franchise opportunities and to see more Minuteman Press franchise reviews, visit https://minutemanpressfranchise.com. Contact Details Minuteman Press International Chris Biscuiti +1 631-249-1370 cbiscuiti@mpihq.com Company Website https://minutemanpressfranchise.com

November 01, 2022 10:00 AM Eastern Daylight Time

Image

CATL and VinFast reach global strategic cooperation to promote global e-mobility

Vingroup

OSAKA, JAPAN - Media OutReach - 1 November 2022 - Contemporary Amperex Technology Company ("CATL") and VinFast Trading & Manufacturing Joint Stock Company ("VinFast") announced a Memorandum of Understanding for Global Strategic Cooperation to expand collaboration in areas including CIIC (CATL integrated intelligent chassis) skateboard chassis products. The MOU signing ceremony is witnessed by Dr. Robin Zeng, founder and Chairman of CATL, and Mr. Pham Nhat Vuong, Chairman of Vingroup and VinFast. According to the agreement, CATL and VinFast intend to explore various forms of cooperation on CIIC skateboard chassis on top of the current cooperation on battery supply with CTP (cell-to-pack) technology between the two companies, which will provide VinFast rapid access to the global market. CIIC skateboard chassis integrates battery packs, electric motors, and other critical units into a single layer at the bottom of the vehicle, lowering purchasing cost, vehicle weight and energy consumption while maximizing cabin space for optimal driving experiences. In addition to the collaboration on CTP batteries and skateboard chassis, CATL is poised to cooperate with VinFast with respect to other areas, thus promoting battery innovation and e-mobility transition. Madam Le Thi Thu Thuy, Vingroup Vice Chairwoman and VinFast Global CEO shared: "VinFast connects global intelligence to promote research and production of smart electric vehicles. Collaboration with CATL - a global leader of new energy innovative technologies - is the next development milestone of VinFast in applying advanced technology to enhance driving range and experience while offering competitive pricing, making smart electric vehicles more efficient and accessible to everyone." By leveraging CATL's cutting-edge batteries, VinFast's innovative EVs will reach new heights in terms of range, safety, and intelligent driving. The cooperation will also enable CATL to enhance its global footprint, especially in emerging markets, and promote the application of new EV technologies. The elevated cooperation will enable both companies to promote innovation of battery technologies and global e-mobility, contributing to global drive for energy transition and carbon neutrality goals. Hashtag: #VinFast#Vingroup About CATL Contemporary Amperex Technology Co., Limited (CATL) is a global leader in new energy technology innovation, committed to providing premier solutions and services for new energy applications worldwide. In June 2018, the company went public on the Shenzhen Stock Exchange. According to SNE Research, in the year 2021, CATL's EV battery consumption volume ranked No. 1 in the world for five consecutive years, and it ranked first in the market share of global energy storage battery production. CATL also enjoys wide recognition by global OEM partners. To achieve the goal of realizing fossil fuel replacement in stationary and mobile energy systems with highly efficient electrical power systems that are generated through advanced batteries and renewable energy and promote the integrated innovation of market applications with electrification and intelligentization, CATL maintains continuous innovation in four dimensions including material and electrochemistry system, structure system, extreme manufacturing and business models. Learn more at: http://www.catl.com/ About VinFast VinFast - a member of Vingroup â envisioned to drive the movement of global smart electric vehicle revolution. Established in 2017, VinFast owns a state-of-the-art automotive manufacturing complex with globally leading scalability that boasts up to 90% automation in Hai Phong, Vietnam. Strongly committed to the mission for a sustainable future for everyone, VinFast constantly innovates to bring high-quality products, advanced smart services, seamless customer experiences, and pricing strategy for all to inspire global customers to jointly create a future of smart mobility and a sustainable planet. Learn more at: https://vinfastauto.com. About Vingroup Established in 1993, Vingroup is one of the leading private conglomerates in the region, with a total capitalization of $35 billion USD from three publicly traded companies (as of November 4, 2021). Vingroup currently focuses on three main areas: Technology and Industry, Services and Social Enterprise. Learn more at: https://www.vingroup.net/en. Contact Details VinFast Media Contact v.phuongmt8@vingroup.net Company Website https://vinfastauto.com/

November 01, 2022 09:30 AM Eastern Daylight Time

Image

Amendment to Terms of Acquisition of Synergy Aviation Ltd.

Volatus Aerospace Corp.

This notice is an amendment to the announcement released on October 13, 2022, to include additional information relating to Synergy shareholders' option to convert remaining Synergy shares to Volatus equity. The option of the Synergy shareholders to sell the remaining 49% equity in 2024 after meeting minimum operational and financial metrics will be at the same valuation at Closing and in exchange for Volatus shares based on 30 days VWAP (volume weighted average price) on date of Closing with a minimum floor price of $0.65 per share. The total maximum cash value of the shares if all shareholder shares are converted will be $2,205,000. " This amendment illustrates the confidence of Synergy shareholders in the long-term value of Volatus Aerospace, " said Abhinav Singhvi, CFO of Volatus Aerospace. “This addition in our definitive agreement eliminates significant dilution based on current share price and protects the interest of our existing shareholders.” Full amended news release is attached below: Volatus Aerospace Adds Over 500,000 km of Oil & Gas PipelineRight of Way Surveillance with Acquisition of Synergy Aviation Ltd. Volatus Aerospace Corp. (TSXV:VOL) (OTCQB: VLTTF) ("Volatus" or "the Company") announced on October 13, 2022 that it has signed an arm's length definitive agreement dated Oct 12, 2022, to acquire Alberta-based Synergy Aviation Ltd. This acquisition will solidify Volatus’ position in Western Canada providing privileged access to much of the oil and gas industry. Synergy’s leadership in the sector combined with Volatus’ drone technology solutions will positionthe Company with a strong competitive advantage to introduce innovative, efficient, green, remotely operated drone solutions to fulfill regulatory and asset monitoring requirements. Founded in Alberta in 2014, SynergyAviation is an industry leaderin aerial surveillance, pipeline integrity monitoring, and specialized geomatics, patrolling and inspecting more than 500,000 KM of pipeline right of way stretching from the coast of British Columbia to the Manitoba/US border. The company provides Canada’s largest oil & gas producers and pipeline operators with uninterrupted, consistent and highly detailed right-of-way integrity data. “Pipeline inspection, much like other long linear inspection requirements, has traditionally been completed using crewed helicopters and small fixed wing aircraft,” said Glen Lynch, CEO of Volatus Aerospace. “Leveraging Synergy’s oil & gas presence combined with our existing pipeline operations in Ontario will allow us to introduce the power of innovative drone solutions to meet regulatory compliance and asset management requirements with improved efficiencies and a material reduction in greenhouse gas emissions.” There are nearly 5 million kilometers of oil & gas pipelinein North America requiring annual inspections and, in many cases, weekly patrols to meet regulatory and asset management requirements,” said Todd Tkach,President of SynergyAviation. “Becoming part of Volatusgives us the added geomatics capabilities, market reach, and the opportunity to disrupt traditional methods in this sector. Synergy recorded unaudited revenues of $7 million with a 14% EBITDA (Earnings before Interest, tax, depreciation, and amortization) during the first nine months of 2022 and is targeting year end revenuesof $9 million. Under the terms of the agreement, Volatus will make an equity investment of $2.29 million in Synergy Aviation over the course of 10 months from closing in exchange for newly issued shares that will represent 51% of all outstanding shares. The investment will be used by Synergy for ongoing expansion activities. The transaction is scheduled to close on October 31 st conditional on satisfactory completion of due diligence, approval of the respective Board of Directors, and regulatory approval by the TSX Venture Exchange. Subject to operational and financial metric as defined in the definitive agreement, the Synergyinvestors will have an option,expiring in December2024, to sell the remaining 49% equity to Volatus at the same valuation at Closing in exchange of Volatus shares based on 30 days VWAP (volume weighted average price) on date of Closing with a minimum floor price of $0.65 per share and maximum. The total maximum cash value of the shares if all shareholder shares are converted will be$2,205,000. This announcement marks another step in a series of interrelated technology, regulatory, and commercial milestones intended to drive and scale the commercialization of drone technologies. Recent announcements include the launch of the Aerieport drone nesting station, regulatory authority to remotely operate a drone at an airport, the remote operation of drones in Las Vegas from our operations center 3,000 km away, and most recently, a collaboration agreement with Accipiter Radar to provide for larger scale deconfliction between drones and low flying aircraft. The combination of these events with other Volatus technologies provides large scale opportunities in oil and gas, power distribution, and rail throughout the markets served by Volatus. About Volatus Aerospace: Volatus Aerospace Corp. is a leading provider of integrated drone solutions throughout North America and growing into Latin America and globally. Volatus serves civil, public safety, and defense markets with imaging and inspection, security and surveillance, equipment sales and support, training, as well as R&D, design, and manufacturing. Through our subsidiary, Volatus Aviation, we are introducing green and innovative drone solutions to supplement and replace traditional aircraft and helicopters for long-linear inspections such as pipeline, energy, rail, and cargo services. Volatus is committed to carbon neutrality; the fostering of a safe, equitable and inclusive workplace; and responsible governance. Forward-Looking Information This news release contains statements that constitute “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs, and current expectations of the Company with respect to future business activities and operating performance. Often, but not always, forward-looking information and forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results “may”, “could”, “would”, “might” or “will” (or other variations of the foregoing) be taken, occur, be achieved, or come to pass. Forward-looking information includes information regarding: (i) the business plans and expectations of the Company; and (ii) expectations for other economic, business, and/or competitive factors. Forward-looking information is based on currently available competitive, financial, and economic data and operating plans, strategies, or beliefs as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to the Company, including information obtained from third-party industry analysts and other third-party sources, and are based on management’s current expectations or beliefs. Any and all forward-looking information contained in this news release is expressly qualified by this cautionary statement. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Forward-looking information and forward-looking statements reflect the Company’s current beliefs and is based on information currently available to it and on assumptions it believes to be not unreasonable in light of all of the circumstances. In some instances, material factors or assumptions are discussed in this news release in connection with statements containing forward-looking information. Such material factors and assumptions include, but are not limited to: the commercialization of drone flights beyond visual line of sight and potential benefits to the Company; and meeting the continued listing requirements of the TSXV. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. The forward- looking information contained herein is made as of the date of this news release and, other than as required by law, the Company disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release. Source: Volatus Aerospace Corp. TSXV: VOL Contact Details Abhinav Singhvi +1 514-447-7986 abhinav.singhvi@volatusaerospace.com Company Website https://volatusaerospace.com

October 31, 2022 07:39 AM Eastern Daylight Time

Image

Transportation

Trust Through Transparency: How AutoTechIQ Is Rebuilding Consumer Confidence In The Auto Repair Industry

ConsumerCoverage Partners With Top Carriers to Provide Insurance and Safe-Driving Resources to Riders Nationwide

Cooper Standard Adopts Tax Benefits Preservation Plan to Protect its Tax Benefits and Shareholder Value

Volatus Aerospace Corp. Announces Record Third Quarter 2022 Revenue of $11.12MM

Anna Demeo joins Vehicle-to-Everything Leader Fermata Energy as Chief Product Officer

Cooper Standard Reports Strong Sales Growth and Margin Improvement in Third Quarter 2022

Minuteman Press Florida Franchise Owners Celebrate 15-plus Years in Business

CATL and VinFast reach global strategic cooperation to promote global e-mobility

Amendment to Terms of Acquisition of Synergy Aviation Ltd.