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Cooper Standard Reports First Quarter Results

Cooper Standard Holdings Inc.

Cooper-Standard Holdings Inc. (NYSE: CPS) today reported results for the first quarter 2022. First Quarter 2022 Summary Sales totaled $613.0 million, reflecting continued weak light vehicle production volume Net loss amounted to $61.4 million or $(3.58) per diluted share Adjusted EBITDA totaled $0.1 million Quarter-end cash balance of $253 million; continuing strong total liquidity of $396 million “We continued to make progress in our commercial negotiations to recover incremental material costs and we expanded index-based agreements to include customers representing over 60 percent of our revenue base,” said Jeffrey Edwards, chairman and CEO, Cooper Standard. “The resulting price increases helped to partially offset the impact of higher input costs and lower production volumes in the first quarter. Moving forward, we expect further recoveries of both commodity and non-commodity inflation. Combining these with our continued cost optimization and efficiency initiatives will drive improving results as production volumes ramp up throughout the year and into 2023.” Consolidated Results The year-over-year change in first quarter sales was primarily attributable to unfavorable volume and mix resulting from reduced customer production schedules and unfavorable foreign exchange, partially offset by net realized price increases. Net loss for the first quarter 2022 was $(61.4) million, including restructuring charges of $7.8 million and other special items. Net loss for the first quarter 2021 was $(33.9) million, including restructuring charges of $21.0 million and other special items. Adjusted net loss, which excludes restructuring, other special items and their related tax impact, was $(51.4) million in the first quarter 2022 compared to $(14.5) million in the first quarter of 2021. The year-over-year change was primarily due to higher commodity and material costs, unfavorable volume and mix resulting from reduced customer production schedules, and cost increases from general inflation. 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. Cost Recovery Initiatives The Company is continuing aggressive efforts to recover incremental costs associated with increasing raw material prices, higher wages and other general inflation. Through a combination of expanded index-based agreements, price increases and deferred price concessions, the Company now has customer commitments to increase the expected percentage of recovery on the incremental material-related costs incurred in 2021 or expected to be incurred in 2022. The expanded index-based agreements have been established with customers representing over 60 percent of the Company's revenue base and they cover both oil-based materials and metals. These index-based agreements will reduce the impacts of commodity price volatility on the Company's future financial results. The Company expects to continue its efforts to further expand index-based agreements with customers and will pursue recovery of incremental costs not covered by index-based agreements through ongoing periodic commercial negotiations. The Company further expects the rate of cost recoveries realized will accelerate in future periods as new agreements take full effect. Segment Results of Operations Sales * Net of customer price adjustments Volume and mix, net of customer price adjustments, was driven by vehicle production volume decreases due to semiconductor-related customer schedule reductions. The impact of foreign currency exchange primarily related to the Euro and Brazilian Real. Adjusted EBITDA * Net of customer price adjustments Volume and mix, net of customer price adjustments, was driven by vehicle production volume decreases due to semi-conductor-related customer schedule reductions. The impact of foreign currency exchange was driven by the Brazilian Real. The Cost (Increases) / Decreases category above includes: Commodity cost and inflationary economics; Manufacturing lean efficiencies and purchasing savings through lean initiatives; Reduction in compensation-related expenses due to salaried headcount initiatives and restructuring savings. Cash and Liquidity As of March 31, 2022, Cooper Standard had cash and cash equivalents totaling $252.9 million including $50.0 million in proceeds related to an asset sale-leaseback transaction. Total liquidity, including availability under the Company's amended senior asset-based revolving credit facility, was $395.6 million at the end of the first quarter. Additionally, subsequent to the end of the first quarter, the Company received $29 million in cash payments from the United States Internal Revenue Service for tax refunds related to net operating loss carrybacks made available by the CARES act. An additional $23 million in tax refunds related to net operating loss carrybacks are expected to be received during the second quarter of 2022. The cash received further bolsters the Company's strong liquidity position. Based on our current expectations for light vehicle production and customer demand for our products, we expect our 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. Outlook Light vehicle manufacturers and their suppliers continue to experience significant production delays and disruption due to the ongoing global semiconductor shortage and other supply chain constraints, many of which have been worsened by geopolitical tensions and the evolving military actions in Eastern Europe and pandemic related restrictions in China. Significantly higher commodity and materials costs, rising wages, general inflation and tight labor availability continue to create additional headwinds for the industry. At the same time, consumer demand for new light vehicles remains strong and U.S. dealer inventories remain near historic low levels. Current customer schedules and industry forecasts have production volumes improving in the second half of 2022. The projected ramp up, however, remains dependent on the capacity and efficiency of the global supply chain and the availability of key components and commodities. The Company expects to provide a formal update to guidance following the second quarter of the year. Conference Call Details Cooper Standard management will host a conference call and webcast on May 6, 2022 at 9:00 a.m. ET to discuss its first quarter 2022 results, provide a general business update and respond to investor questions. A link to the live webcast of the call (listen only) and presentation materials will be available on Cooper Standard’s Investor Relations website at www.ir.cooperstandard.com/events.cfm. To participate by phone, callers in the United States and Canada should dial toll-free (877) 374-4041. International callers should dial (253) 237-1156. Provide the conference ID 4746756 or ask to be connected to the Cooper Standard conference call. Representatives of the investment community will have the opportunity to ask questions after the presentation. Callers should dial in at least five minutes prior to the start of the call. Individuals unable to participate during the live call may visit the investors’ portion of the Cooper Standard website ( www.ir.cooperstandard.com ) for a replay of the webcast. 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: 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 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 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 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 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, net debt, 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 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 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 joint venture investment in Asia Pacific, which required adjustment to fair value. (2) Non-cash impairment charges in 2022 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. 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 joint venture investment in Asia Pacific, which required adjustment to fair value. (2) Non-cash impairment charges in 2022 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. (4) 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. 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 Company Website http://www.cooperstandard.com/

May 05, 2022 04:40 PM Eastern Daylight Time

100 Teachers to Win Norwegian Cruise Line Cruises in Celebration of Teacher Appreciation Week

YourUpdateTV

In honor of Teacher Appreciation Week (May 2 – 6) Norwegian Cruise Line is relaunching its award-winning Norwegian’s Giving Joy TM contest, rewarding 100 teachers across the U.S. with a sailing aboard its newest groundbreaking ship, Norwegian Prima. In addition, the top three grand prize winners will receive a seven-day cruise for two and up to a $25,000 donation for their school. Recently, Senior Vice President of Branding and Communications at Norwegian Cruise Line, Christine Da Silva, participated in a nationwide satellite media tour to discuss the initiative and why it’s so important to recognize the work of our teachers. A video accompanying this announcement is available at: https://youtu.be/4ldobDA3veo Norwegian’s Giving Joy TM campaign serves to recognize and celebrate educators for their relentless dedication to inspiring students every day, and unwavering commitment to bringing joy to the classroom. In addition to honoring these often-under-valued teachers, this campaign highlights the intersection of travel and education, two areas that Norwegian Cruise Line is extremely passionate about. Travel is one of the most immersive means of education. It broadens our perspective, encourages us to discover, adapt and accept new cultures and experiences. The month-long campaign is now live and runs through June 3, 2022. Norwegian Cruise Line is encouraging nominations of certified or accredited teachers in the U.S. and Canada who strive to bring joy into their classrooms and inspire their student’s day-in and day-out. The top 100 teachers across North America will win an exclusive invitation to the inaugural sailing of NCL’s newest innovative ship, Norwegian Prima, from Galveston, TX from Oct. 27-31, 2022. The top three winners will also receive a seven-day cruise for two on voyages departing from the U.S. and Canada through Dec. 31, 2023, as well as $25,000, $15,000 or $10,000 respectively for their school. To nominate a beloved teacher, to vote and for the contest terms and conditions, please visit www.nclgivingjoy.com. About Christine Da Silva: Christine Da Silva is the Senior Vice President of Branding and Communications for Norwegian Cruise Line, responsible for the development and execution of the brand’s global branding strategy as well as its external and internal communications and events. Overseeing branding and communication, she leads the development of the brand narrative; is responsible for reputation, crisis and issue management; and has been instrumental in the launch of engagement initiatives including the game-changing Norwegian’s Giving Joy TM and Encore Moments campaigns as well as the debut of the Company’s latest vessels. Da Silva has over 25 years of experience guiding brands and businesses in delivering authentic and impactful messages through integrated communication and marketing strategies that drive growth, sales and awareness. She is based in the Company’s head office in Miami, Florida. About Norwegian Cruise Line: As the innovator in global cruise travel, Norwegian Cruise Line has been breaking the boundaries of traditional cruising for 55 years. Most notably, the cruise line revolutionized the industry by offering guests the freedom and flexibility to design their ideal vacation on their preferred schedule with no assigned dining and entertainment times and no formal dress codes. Today, its fleet of 17 contemporary ships sail to over 300 of the world’s most desirable destinations, including Great Stirrup Cay, the company’s private island in the Bahamas and its resort destination Harvest Caye in Belize. Norwegian Cruise Line not only provides superior guest service from land to sea, but also offers a wide variety of award-winning entertainment and dining options as well as a range of accommodations across the fleet, including solo traveler staterooms, club balcony suites, spa-suites and The Haven by Norwegian®, the company’s ship-within-a-ship concept. For additional information or to book a cruise, contact a travel professional, call 888-NCL-CRUISE (625-2784) or visit www.ncl.com. For the latest news and exclusive content, visit the NCL Newsroom and follow Norwegian Cruise Line on Facebook, Instagram, Tik Tok and YouTube @NorwegianCruiseLine; and Twitter @CruiseNorwegian Contact Details YourUpdateTV +1 212-736-2727 yourupdatetv@gmail.com

May 05, 2022 11:00 AM Eastern Daylight Time

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ThreatModeler Recognized as Silver Stevie® Award Winner for Best Cloud Platform by the 2022 American Business Awards®

ThreatModeler Software, Inc

ThreatModeler, a leader in securing cloud infrastructure from design to deployment, today announced that CloudModeler has earned a Silver Stevie® Award for Best Cloud Platform as part of the 20th Annual American Business Awards®. Optimizing ThreatModeler’s automated capabilities, CloudModeler enables organizations to implement true DevSecOps, providing actionable insights through continuous monitoring and empowering teams to discover unknown flaws in real-time. Designed with cloud migration in mind, CloudModeler enables DevOps teams to detect security flaws before they become code vulnerabilities, enabling instant remediation, mitigating risk and ensuring compliance post-deployment. “ThreatModeler is dedicated to creating a collaborative platform where security experts or non-security professionals alike can visualize design flaws within a few hours or minutes instead of weeks,” said Archie Agarwal, Founder and CEO, ThreatModeler. “This award highlights the value we have been able to deliver with CloudModeler, enabling enterprises to develop and deploy cloud architectures quickly, confidently and compliantly.” The American Business Awards are the U.S.A.’s premier business awards program. All organizations operating in the U.S.A. are eligible to submit nominations – large and small. More than 230 professionals worldwide participated in the judging process to select this year’s American Business Awards® winners. ThreatModeler’s distinction as a best cloud platform was clear to the ABA judges, who provided the following comments as part of their assessment of the CloudModeler solution: “A product designed with the specific pain point or niche market needs in mind, and solutioning implemented in a way that is easy to use, light to implement and maintain, brings efficiency and cuts cost from day one! ThreatModeler fits every category of this type of product. With the cloud being the top platform and destination for services and cybersecurity being the top priority and concerns of almost all businesses with a presence in cloud, threat modeling is a crucial part of the development cycle that ensures the product is secure and robust enough to protect both the business and the customers. I am impressed by the result metrics and statistics provided in the submission demonstrating how ThreadModeler has helped shorten the whole development efforts, cut costs, and avoid cyber risk and threats for its customers.” “[This submission] clearly demonstrates the success and growth of the company. ThreatModeler’s suite of products empowers DevOps to measure, design and validate threat drift from development to deployment within a fraction of the time and cost tied to other tools. Optimizing ThreatModeler’s automated capabilities, CloudModeler enables organizations to implement true DevSecOps, providing actionable insights through continuous monitoring, empowering teams to discover unknown flaws in real-time.” To learn more about ThreatModeler, CloudModeler and more, click here. Details on The American Business Awards and the list of Stevie winners are available here. About ThreatModeler Software, Inc. ThreatModeler Software, Inc.’s suite of products empowers DevOps to measure their threat drift from code to cloud. With a fraction of the time and cost tied to other tools, users can design, build and validate threat drift from development to deployment. Teams can instantly visualize their attack surface, understand security requirements and prioritize steps to mitigate threats. CISOs can make critical security-driven business decisions to scale their infrastructure for growth. About the Stevie Awards Stevie Awards are conferred in eight programs: the Asia-Pacific Stevie Awards, the German Stevie Awards, the Middle East & North Africa Stevie Awards, The American Business Awards®, The International Business Awards®, the Stevie Awards for Women in Business, the Stevie Awards for Great Employers, and the Stevie Awards for Sales & Customer Service. Stevie Awards competitions receive more than 12,000 entries each year from organizations in more than 70 nations. Honoring organizations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about the Stevie Awards at http://www.StevieAwards.com. Contact Details Clayton Murtle ThreatModeler@luminapr.com

May 05, 2022 09:00 AM Eastern Daylight Time

Post-COVID Travel Boom Visits Rural America

YourUpdateTV

Visit North Carolina has launched Dream Big in Small Town NC, an initiative to boost economic recovery by attracting travelers and potential workforce to small towns in 16 counties facing population loss. Starting with a sweepstakes promotion and a satellite media tour in Haywood County, the campaign showcases natural beauty and small-town charm in places with special challenges resulting from the pandemic. A video accompanying this announcement is available at: https://youtu.be/xcNldQZAVdk Created by the General Assembly as the Rural Tourism Recovery Pilot Program, Dream Big capitalizes on travelers’ interest in exploring small towns by drawing attention to the people, places and businesses in three distinct regions designated as the Scenic Mountains, the Northeast Lakes & Rivers, and the Inner Banks. As a unit of the Economic Development Partnership of North Carolina, Visit NC is coordinating the program with the N.C. Department of Commerce and other private and public entities involved in growing the state’s first-in-talent workforce. “Dream Big is a natural extension of Visit NC’s economic development role as the state’s tourism marketing organization,” said Wit Tuttell, Visit NC’s executive director. “Our efforts center on showcasing local landmarks, memorable experiences, distinctive lodging, dining and shopping with the goal of an economic infusion from visitor spending. Dream Big takes the mission further by calling attention to the allure of living and working in charismatic places whose appeal is rooted in character and authenticity.” Funded with $1.5 million from the American Rescue Plan Act of 2021, the pilot program designates Graham, Haywood, Madison, Mitchell and Yancey counties in the Scenic Mountains; Edgecombe, Halifax, Vance and Warren in the Northeast Lakes & Rivers; and Chowan, Gates, Hertford, Martin, Perquimans, Tyrrell and Washington in the Inner Banks. Dream Big also has a dedicated presence on VisitNC.com, complete with links for job postings, as well as program partner Airbnb’s website. The Scenic Mountains is the first region to take the spotlight. During the satellite tour in Waynesville, representatives from national, regional and in-state media outlets joined the virtual tour and Q&A session. The launch also features a sweepstakes with a prize package that includes: A $1,000 Airbnb stay voucher to experience Small Town NC life. A $500 VISA gift card to help with travel expenses by plane, train or automobile A choice of gift cards for dining, recreation and shopping in the Scenic Mountain destinations. Similar promotions and satellite media tours are planned for the program’s launch in Northeast Lakes & Rivers this summer and in the Inner Banks in the fall. According to a recent report from Destination Analysts, 28.4 percent of people surveyed plan to visit small towns or rural attractions this travel season. Increased demand is reflected in the doubling of short-term rentals available outside of North Carolina’s urban counties since the pandemic began. For 2021, Airbnb reports a 128 percent increase in nights booked in rural areas compared with 2019. For the same period, nights booked for rural stays of more than four weeks grew 160 percent, which supports Dream Big’s promise to engage visitors for more than a getaway. Tuttell also noted findings from a poll by booking.com that 58 percent of travelers said it’s important for their trip be beneficial to the destination's local community. Twenty-nine percent said they would research how their tourism spending would affect or improve local communities. Beyond exposure from the satellite tour, Dream Big will reach the traveling public through a presence on VisitNC.com and posts on @VisitNC’s social media channels. A media influencer campaign will bring selected tastemakers to the destinations to engage their followers in the local culture and lifestyle appeal for people interested in a change of scenery. Airbnb, which will also promote the campaign on its website and social media channels, will use its inventory of short-term rental properties to host the media visits. About Visit North Carolina: Visit North Carolina is part of the Economic Development Partnership of North Carolina. Established in 2014, the EDPNC is a 501(c)(3) nonprofit corporation that oversees the state's efforts in business and job recruitment and retention, international trade, and tourism, film and sports development. The mission of Visit North Carolina is to unify and lead the state in developing North Carolina as a major destination for leisure travel, group tours, meetings and conventions, sports events and film production. For more information on North Carolina’s destinations and travel assets, go to VisitNC.com. Contact Details YourUpdateTV +1 212-736-2727 yourupdatetv@gmail.com

May 04, 2022 06:00 PM Eastern Daylight Time

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Web3 Solidity Engine, tEVM 2.0 - Ahead of Schedule

Telos Foundation

As the Goliaths of crypto continuously crash ( Solana ), fail to deliver ( Ethereum ), or live in their white papers ( Cardano ), David ( Telos ) continues to defy them all and over-deliver. The Telos story is very much a David vs. Goliath story. Why? Because Telos is tens and even hundreds of billions of dollars smaller than its peers in market cap, yet still manages to significantly lead them in speed, costs, true capacity, credible neutrality, front running protection, fair governance, and energy efficiency ( Net Zero ). The tEVM Version 1.0's capabilities are already a quantum leap ahead of its peers and are clearly demonstrated in this video. Now, less than a year later, version 2.0 is set to elevate the tEVM's performance further. Jesse Schulman (Lead Architect and TCO), alongside Kersten Wirth (Program Manager), will be providing detailed insights into the development of Telos EVM 2.0. This hybrid "Super-Node" solution will be even easier to operate and integrate than the previous version, offer top-notch history management, and tie in with the best available Ethereum clients. The dev-duo will also be discussing the many benefits and successes of the existing tEVM Version 1. Since its launch, the tEVM’s ecosystem is closing on six months of strategic growth. On the DeFi side, it has already launched multiple Dex/AMMs, Price Oracles, Farming dApps, multi-Chain bridges, Lending dApps, and everything else that a vibrant DeFi ecosystem requires to level up its TVL and end-user occupancy. Telos’ TVL is now where the market cap leading chains were not long ago but with far superior governance, no front running, credible neutrality, true decentralization, and an ESG compliant EVM that is several multiples faster. In utopian fashion, Telos’ ecosystem is now ready to scale its occupants and its TVL simultaneously. About Telos Live since 2018, Telos Blockchain (ticker: TLOS) is a third-generation smart contract platform that offers compatibility with Solidity, Vyper, and Native C++ smart contracts. Telos provides full EVM/Solidity support with fixed low-cost gas fees and no front running and, more uniquely, offers a path to fee-less transactions via its robust native C++ smart contract support. Even while operating as a Net Zero Blockchain, Telos still sustainably supports hundreds of millions of transactions per day, produces blocks in 0.5 second intervals (on a first-in-first-out basis, eliminating front running on the network), and securely validates transactions via a credibly neutral and globally decentralized block producer network. As a result, the Telos blockchain has the throughput needed to facilitate and scale the thriving Metaverse / Web 3.0 landscape better than any other blockchain in existence. Its performance is unrivaled in the industry and was purpose-built to offer speed, scalability, cost-effectiveness, credible decentralization, and end-user fairness. Telos harnesses its power by utilizing tight C++ on the frontend and a custom WASM runtime environment on the backend. About The Foundation The Telos Foundation is a Decentralized Autonomous Organization established as a promotional and funding body to advance the Telos Blockchain Network and provide support to network applications. Not investing advice. Contact Details The Team hello@telosfoundation.io Company Website https://www.telos.net/

May 04, 2022 01:00 PM Eastern Daylight Time

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Volatus Aerospace Expands Pipeline Inspection with Acquisition of Canadian Air National

Volatus Aerospace Corp.

Volatus Aerospace Corp. (TSXV: VOL) (OTCQB: VLTTF) ("Volatus" or "the Company") is pleased to announce the acquisition of Canadian Air National, a commercial aircraft operator specializing in contracted pipeline inspections for the oil and gas industry. Seth Moffat, President and CEO of Canadian Air National, will continue to lead the company. "The oil and gas sector has enormous growth potential as drone and AI-enhanced solutions are added to the mix of traditional crewed aircraft providing aerial patrol and inspections," says Luc Masse, Volatus Executive Vice President. "We are looking forward to supporting Seth and his team. They are a welcome addition to Volatus. Seth is a well-respected aviation professional who pilots for a major national airline in addition to being Vice Chair of the Flight Operations Specialist Group with the Royal Aeronautical Society." Seth Moffat stated: “I am exceptionally proud of the quality air operator that Canadian Air National has become, and recognize Volatus Aerospace as the right opportunity for future growth, development and technological advancement. The strength that Volatus brings to the company will significantly benefit our clients moving forward and ensure Canadian Air National remains part of the Canadian aviation landscape for years to come.” Canadian Air National is organized to conduct airborne inspections and patrols in Canada and the USA. Volatus intends to use this new capability to supplement and expand larger drone project opportunities. Wherever possible, Volatus will dronify operations to improve efficiencies. About Volatus Aerospace: Volatus Aerospace Corp. is a leading provider of integrated drone solutions throughout Canada, the United States, and Latin America. Operating a vast pilot network, Volatus serves commercial and defense markets with imaging and inspection, security and surveillance, equipment sales and support, training, and design, manufacturing, and R&D. Through its subsidiary Volatus Aviation, Volatus carries on the business of aircraft management, charter sales, and cargo services using piloted, remotely piloted, and autonomous aircraft. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release. Forward-Looking Statement This news release contains statements that constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Corporation with respect to future business activities and operating performance. Often, but not always, forward-looking information 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 Corporation; 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 Corporation 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 Corporation, 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 reflects the Corporation’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 impact of the COVID-19 pandemic on the Corporation; meeting the continued listing requirements of the TSXV; and anticipated and unanticipated costs and other factors referenced in this news release and the Circular, including, but not limited to, those set forth in the Circular under the caption “Risk Factors”. Although the Corporation 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 Corporation 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. Source: Volatus Aerospace Corp. TSXV: VOL Contact Details Rob Walker +1 514-447-7986 rob.walker@volatusaerospace.com Company Website https://volatusaerospace.com

May 04, 2022 07:45 AM Eastern Daylight Time

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Cooper Standard Completes Sale of European Property, Adding to Continuing Solid Liquidity Position

Cooper Standard Holdings Inc.

Cooper-Standard Holdings Inc. (NYSE: CPS) has completed the previously announced sale of a non-core real estate asset in Germany. The transaction generated $50 million in cash proceeds, adding to the Company’s already strong cash position at the end of the first quarter. The Company expects to lease back a portion of the property until the remaining manufacturing operation can be relocated. The lease commitment is not financially material to the Company’s ongoing operations. As of March 31, 2022, Cooper Standard had cash and cash equivalents totaling $252.9 million including proceeds from the transaction. Total liquidity, including availability under the Company's amended senior asset-based revolving credit facility, was $395.6 million at the end of the first quarter. Additionally, subsequent to the end of the first quarter, the Company received $29 million in cash payments from the United States Internal Revenue Service for tax refunds related to net operating loss carrybacks made available by the CARES act. An additional $23 million in tax refunds related to net operating loss carrybacks are expected to be received during the second quarter of 2022. The cash received further bolsters the Company's strong liquidity position. Based on our current expectations for light vehicle production and customer demand for our products, we expect our 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 expects to release its full financial results for the first quarter 2022 on Thursday, May 5 after market close. The quarterly results will be posted to the Cooper Standard website( http://www.ir.cooperstandard.com) once released. 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: 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. ### CPS_F Contact Details Chris Andrews Contact for Media +1 248-596-6217 candrews@cooperstandard.com Roger Hendriksen Contact for Analysts +1 248-596-6465 roger.hendriksen@cooperstandard.com Company Website http://www.cooperstandard.com/

May 02, 2022 09:15 AM Eastern Daylight Time

Foresight CEO Letter to Shareholders

Foresight Autonomous Holdings Ltd.

Dear Shareholders, This past March, U.S. Secretary of Transportation Pete Buttigieg announced that the federal government would oversee “meaningful” development of regulations for autonomous and semi-autonomous vehicles over the next few years. I believe that this announcement reflects the significant technological and economic progress seen in the autonomous vehicle industry, as the business community and society alike recognize that these technologies will underpin the future of mobility. It is now a matter of when, not if, autonomous and semi-autonomous vehicles become the dominant form of transportation in developed countries throughout the world. Foresight’s smart 3D multi-spectral stereo vision software solutions and Eye-Net Mobile’s cellular-based applications will play a vital role in the future of autonomous and semi-autonomous transportation — not only for automobiles, but also for trains and unmanned aerial vehicles. To become widely accepted by society, autonomous technology must demonstrate comprehensive and reliable safety for each vehicle’s operator, passengers, and those around it. Foresight’s in-line-of-sight 3D stereo vision systems and Eye-Net’s beyond-line-of-sight accident prevention systems facilitate safe operation for autonomous and semi-autonomous vehicles, promising a future in which accidents are a near-impossibility. While the U.S. Department of Transportation turns its attention to autonomous vehicles, many of the world’s leading industries and corporations continue their evaluations of this complex technology. Foresight’s sales cycle, which is oriented around extensive proof-of-concept (POC) projects for leading automotive original equipment manufacturers (OEMs), demonstrates that autonomous vehicle design and manufacture require thorough study and careful deliberation. QuadSight ®, our four-camera-based 3D stereo vision system, continues to meet the demanding requirements of our potential customers, and we remain confident that POC projects will soon lead to commercial agreements. In the coming years, the transportation industry, along with other key verticals such as agriculture and defense, will begin mass production of autonomous and semi-autonomous vehicles. We believe that our QuadSight vision system will be a compelling option for these OEMs as they make final decisions on components for their first mass-market offerings. Foresight’s 3D multi-spectral vision solutions offer both superior performance and flexibility when compared with competing solutions, particularly as our visible-light and thermal infrared cameras can be mounted anywhere on a vehicle. DynamiCal™, our innovative automatic calibration solution, radically simplifies the process of integrating our stereo technology into new vehicle designs. Our customers recognize that our thermal infrared stereo cameras, provided by FLIR Systems (acquired by Teledyne Technologies [NYSE: TDY]), deliver seamless performance regardless of harsh weather and lighting conditions. We believe that this technology will prove to be essential for successful mass-produced autonomous and semi-autonomous vehicles. Since my last letter to shareholders, in September 2021, Foresight has recorded several important milestones that demonstrate our progress and potential. Most notably, we completed a two-week series of technological demonstrations in the United States in October 2021, generating significant interest among 19 leading American and global vehicle manufacturers, Tier One suppliers and autonomous systems developers. We expanded our presence in the key market of China by establishing a subsidiary, Foresight Changzhou Automotive Ltd., and we announced a promising collaboration with a leading Japanese Tier One supplier of automotive stereo vision systems. Most recently, we announced an upcoming project with the Israel Defense Forces, via a leading Israeli defense integrator, for which we will develop a customized 3D perception solution to replace the use of LiDAR (light detection and ranging) in key defense-focused solutions. We believe that the combination of Foresight’s technological advantages and the significant market potential for autonomous vehicles represents a tremendous economic opportunity for our stakeholders and investors. As we turn the corner from POC projects to commercial agreements, we expect to deliver significant sustainable value to our shareholders. We believe that Foresight is strongly positioned to become a technology pillar in the autonomous and semi-autonomous vehicle market. I am grateful for your support of our company. We look forward to announcing new developments in the near future. Sincerely, Haim Siboni CEO & Chairman, Foresight Autonomous Holdings Forward-Looking Statements This letter to shareholders contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” "estimates" and similar expressions or variations of such words are intended to identify forward-looking statements. For example, Foresight is using forward-looking statements in this letter to shareholders when it discusses autonomous and semi-autonomous vehicles will become the dominant form of transportation in developed countries throughout the world, the potential of Foresight’s and Eye-Net Mobile’s solutions in the future of autonomous and semi-autonomous transportation, that the QuadSight vision system will be a compelling option for OEMs, that Foresight’s technology will prove to be essential for successful mass-produced autonomous and semi-autonomous vehicles, that Foresight’s POC projects will soon lead to commercial agreements, the belief that the combination of Foresight’s technological advantages and the significant market potential for autonomous vehicles represents a tremendous economic opportunity for its stakeholders and investors, and that Foresight is strongly positioned to become a technology pillar in the autonomous and semi-autonomous vehicle market. Because such statements deal with future events and are based on Foresight’s current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of Foresight could differ materially from those described in or implied by the statements in this letter to shareholders. The forward-looking statements contained or implied in this letter to shareholders are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Foresight’s annual report on Form 20-F filed with the Securities and Exchange Commission (“SEC”) on March 31, 2022, and in any subsequent filings with the SEC. Except as otherwise required by law, Foresight undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this letter to shareholders. Contact Details Investor Relations Contact: Miri Segal-Scharia, CEO, MS-IR LLC +1 917-607-8654 msegal@ms-ir.com Company Website https://www.foresightauto.com/

May 02, 2022 08:20 AM Eastern Daylight Time

Volatus Aerospace Corp. Announces Record Fourth Quarter and Record 2021 Annual Sales

Volatus Aerospace Corp.

Volatus Aerospace Corp. (TSXV: VOL) (OTCQB: VLTTF) ("Volatus" or "the Company"), a leading drone solutions provider, is pleased to announce record sales for Q4 2021 and financial year 2021. The financial year 2021 was a tremendous year of expansion and growth for the Company. The revenue witnessed a growth of 161x, and gross margins grew by 271%. Key Financial Highlights for 2021: Total reported revenue increased by $9,852,723 in 2021. The company reported total annual audited revenue of $9,913,953 in 2021 (proforma revenue in 2021 was $16,723,432). The growth was driven by expansion across Canada and the United States, new strategic partnerships and acquisitions completed in 2021. The blended gross margin of the Company was 26% in 2021 compared to 7% in 2020. The Company reported a total gross margin of $2,528,710. The increase in gross margin is due to scale in product and service activities. The Company recorded a comprehensive loss of $3,678,734, including non-cash items like impairment of goodwill of $1,399,029 recognized due to the reverse acquisition of Partner Jet Corp. in 2021. On December 31, 2021, the Company's cash balance was $8,806,836 compared to $189,973 in 2020. The cash balance increased due to two successful funding activities in 2021. Key Financial Highlights for Q4 2021: The revenue for the fourth quarter increased by $2,870,462 compared to Q4 2020. The growth was due to acquisitions and scale in operational activities across Canada, the US, and parts of Latin America. The gross margin increased by $672,931 compared to Q4 2020. The increase was due to accelerated sales activities in the product and service segment. The total comprehensive loss in Q4 2021 was $2,744,770, including non-cash items like impairment of goodwill of $1,399,029 recognized due to the reverse acquisition of Partner Jet Corp. in 2021; otherwise, it would be $1,345,741. Operational Highlights: The Company achieved significant milestones in 2021. Vertical Integration enables the Company to serve the drone industry in various forms: selling drone technologies, providing drones-as-a-service, drone training, customized solutions, and integrations. This strategy has enabled the Company to capture a larger market share and provide complete solutions to our customers with strong repeat business potential. Volatus has created a network of drone pilots. This enables the Company to keep costs low and increase the speed of executing the missions with minimum overhead costs. With 1,200+ drone pilots spread across the Americas, the Company can serve significant market segments in various geographical locations. The Company has entered numerous strategic partnerships with drone technology companies across the globe that provide unique capabilities in different sectors. The partnerships vary from being an exclusive global distributor to a manufacturing partner. These partnerships enhance the capabilities for service inspections, surveillance, and cargo operations. Volatus entered into a joint venture agreement with Orijinative Holding Ltd. to provide RPAS (remotely piloted aircraft system) services to Canadian First Nations communities and formed Indigenous Aerospace. The Company intends to create sustainable growth, gainful employment, and a national appreciation of how Indigenous-owned and operated businesses and employees can contribute to the economy through this partnership. In Q4 2021, Volatus invited technology companies from Israel, Canada, and the US to participate in an open technological discussion and enabled the creation of its UAV technology hub at its Simcoe Centre of Excellence. This initiative enabled the Company to lay the groundwork for creating drone technology bundled solutions. In October of 2021, Volatus successfully demonstrated the delivery of a defibrillator using drone technology. This test was conducted to improve the emergency response time by the County of Simcoe Paramedics. The delivery demonstrated the ability of drones to save lives and the capabilities of Volatus and its technology. The company also launched its Industrial and Defence sales team. In November 2021, the company announced its exclusive global distribution of Avidrone sophisticated fleet of autonomous cargo drones. On December 22, 2021, Volatus completed the reverse takeover of Partner Jet Corp. This transaction provided Volatus with operating licenses and certificates to carry out commercial operations in manned aviation and established the base to evolve in unmanned aircraft operations. The audited consolidated financial statements for the year ended December 31, 2021, and associated management discussion and analysis, are made available under the Company's profile on SEDAR at www.sedar.com. CONFERENCE CALL AND PRESENTATION In conjunction with this release, Volatus will host a conference call tomorrow at 11 AM ET that will be a webcast live. Glen Lynch, Chief Executive Officer and Abhinav Singhvi, Chief Financial Officer and Investor Relations, will host the call. Investors are invited to register for the webinar tomorrow, April 29, 2022, at 11:00 AM Eastern Time (US and Canada) https://us06web.zoom.us/webinar/register/WN_Edcz8-_nQCOqh1gEorIn8Q After registering, you will receive a confirmation email containing information about joining the webinar. Investors with Internet access may listen to the webcast live via the Investor Relations page of the Volatus Aerospace Corp. website. Please allow 15 minutes before the call to download and install any necessary audio software. Audio Replay Options An audio replay of the event will be archived on the Investor Relations page of the company's website. About Volatus Aerospace: Volatus Aerospace Corp. is a leading provider of integrated drone solutions throughout Canada, the United States, and Latin America. Operating a vast pilot network, Volatus serves commercial and defense markets with imaging and inspection, security and surveillance, equipment sales and support, training, and design, manufacturing, and R&D. Through its subsidiary Volatus Aviation, Volatus carries on the business of aircraft management, charter sales, and cargo services using piloted, remotely piloted, and autonomous aircraft. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release. Forward-Looking Statement This news release contains statements that constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Corporation with respect to future business activities and operating performance. Often, but not always, forward-looking information 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 Corporation; 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 Corporation 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 Corporation, 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 reflects the Corporation’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 impact of the COVID-19 pandemic on the Corporation; meeting the continued listing requirements of the TSXV; and anticipated and unanticipated costs and other factors referenced in this news release and the Circular, including, but not limited to, those set forth in the Circular under the caption “Risk Factors”. Although the Corporation 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 Corporation 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. Source: Volatus Aerospace Corp. TSXV: VOL Contact Details Rob Walker +1 514-447-7986 rob.walker@volatusaerospace.com Company Website https://volatusaerospace.com

April 28, 2022 05:15 PM Eastern Daylight Time

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