Cooper-Standard Holdings Inc. (NYSE:CPS) Q4 2021 Earnings Conference Call February 16, 2022 9:00 AM ET Company Participants Jeff Edwards - Chairman and CEO Jon Banas - EVP and CFO Roger Hendriksen - Director, IR Conference Call Participants Kirk Ludtke - Imperial Capital LLC Mike Ward - Benchmark Brian DiRubbio - Robert W. Baird Steve Ferazani - Sidoti & Company Josh Taykowski - Credit Suisse Joseph Farricielli - Cantor Fitzgerald Doug Larson - Bank of America Operator Good morning, ladies and gentlemen, an ...

| --- | --- | |-------------------|-------| | | | | February 18, 2022 | | Agenda | --- | --- | |-------|----------------------------------------------------------------------------------------------------| | | | | | Introduction Roger Hendriksen \| Director, Investor Relations | | | 2021 Year in Review | | | Jeff Edwards \| Chairman and Chief Executive Officer | | | Financial Overview and Initial 2022 Guidance Jon Banas \| Executive VP and Chief Financial Officer | | | Strategic Business Overview and Outloo ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark one) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-36127 COOPER-STANDARD HOLDINGS INC. (Exact name of registrant as specified in its charter) Delaware 20-1945088 (State or other jurisd ...

Cooper-Standard Holdings Inc. (NYSE:CPS) Q3 2021 Results Conference Call November 4, 2021 9:00 AM ET Company Participants Roger Hendriksen - Director, IR Jeff Edwards - Chairman and CEO Jon Banas - EVP and CFO Conference Call Participants Mike Ward - Benchmark Brian DiRubbio - Baird Joseph Farricielli - Cantor Fitzgerald Derrick Wenger - Concise Capital Bob Amenta - JP Morgan Josh Taykowski - Credit Suisse Patrick Sheffield - Beach Point Capital Chris Wang - Barclays Jared Weil - Deutsche Bank Operator Good ...

Financial Performance - Sales for the three months ended September 30, 2021, decreased by 22.9% to $526.69 million compared to $683.20 million in the same period of 2020, primarily due to lower vehicle production volumes impacted by semiconductor supply issues [102]. - The gross loss for the three months ended September 30, 2021, was $8.13 million, a decrease of $92.61 million compared to a gross profit of $84.49 million in the same period of 2020 [101]. - Operating loss for the three months ended September 30, 2021, was $72.89 million, compared to an operating profit of $18.79 million in the same period of 2020, reflecting a decline of $91.68 million [101]. - Net loss attributable to Cooper-Standard Holdings Inc. for the three months ended September 30, 2021, was $123.17 million, compared to a net income of $4.38 million in the same period of 2020, representing a decrease of $127.55 million [101]. - Total consolidated sales for Q3 2021 were $526.690 million, down $156.510 million or 23% from $683.200 million in Q3 2020 [111]. - Consolidated adjusted EBITDA for Q3 2021 was $(33.859) million, a decrease of $97.993 million from $64.134 million in Q3 2020 [116]. - Total Automotive sales for the nine months ended September 30, 2021, were $1.627 billion, an increase of $39.232 million or 2.5% from $1.588 billion in the same period of 2020 [115]. - Adjusted EBITDA for the nine months ended September 30, 2021, was $(10,045) thousand, compared to $(21,339) thousand for the same period in 2020, indicating an improvement in operating performance [126]. - The company reported a net loss attributable to Cooper-Standard Holdings Inc. of $(220,648) thousand for the nine months ended September 30, 2021, compared to a net loss of $(240,426) thousand for the same period in 2020 [126]. Production and Sales Trends - Light vehicle production in North America decreased by 25.2% to 3.0 million units for the three months ended September 30, 2021, compared to 4.0 million units in the same period of 2020 [99]. - North America sales decreased by $88.415 million to $270.592 million in Q3 2021 compared to Q3 2020, a decline of approximately 24.6% [111]. - Europe sales fell by $47.347 million to $98.682 million in Q3 2021 compared to Q3 2020, a decrease of about 32.4% [111]. - Asia Pacific sales decreased by $21.537 million to $109.526 million in Q3 2021 compared to Q3 2020, a decline of approximately 16.4% [111]. - For the nine months ended September 30, 2021, North America sales increased by $37.008 million to $857.153 million compared to $820.145 million in the same period of 2020, a rise of approximately 4.5% [115]. Costs and Expenses - Gross profit for the nine months ended September 30, 2021 decreased by 11.9% to $59.2 million, compared to $67.3 million for the same period in 2020 [109]. - Selling, administration, and engineering expense for the nine months ended September 30, 2021 was 9.7% of sales, down from 11.9% for the same period in 2020 [109]. - Net interest expense for the nine months ended September 30, 2021 increased by $13.2 million compared to the same period in 2020, primarily due to a full nine months of interest expense for Senior Secured Notes issued in May 2020 [109]. - Cost of products sold for the nine months ended September 30, 2021 was $1,669.6 million, an increase of $58.3 million compared to $1,611.3 million for the same period in 2020 [107]. - Restructuring charges for the nine months ended September 30, 2021 increased by $11.0 million compared to the same period in 2020, driven by higher charges in Europe [109]. - Impairment charges for the nine months ended September 30, 2021 were $1.8 million, related to idle assets, compared to $87.7 million for the same period in 2020 [109]. Economic and Market Conditions - The company expects inflationary pressures on raw materials, including steel and aluminum, to impact results for the remainder of 2021 and into 2022 [98]. - The global economy is projected to grow by approximately 5.9% in 2021, with North America expected to see growth of around 6.0% [95]. - Unemployment in North America improved to below 5.0% in September 2021, contributing to increased consumer confidence and spending [95]. - The semiconductor supply issues have led to production slowdowns and stoppages, with expectations for improvement in production volumes beginning in the fourth quarter of 2021 [99]. - Forward-looking statements indicate potential risks including the impact of COVID-19, automotive sales contractions, and supply chain disruptions that may affect future performance [130]. Cash Flow and Capital Expenditures - Net cash used in operations was $111.5 million for the nine months ended September 30, 2021, compared to $26.5 million for the same period in 2020, primarily due to working capital outflows and reduced cash earnings [120]. - Net cash used in investing activities was $72.8 million for the nine months ended September 30, 2021, a decrease from $89.5 million in the same period of 2020, reflecting significant decreases in capital expenditures due to COVID-19 and supply chain issues [120]. - The company anticipates spending approximately $100 million on capital expenditures in 2021, continuing its initiative to reduce overall capital spending [120]. - The company continues to actively preserve cash and enhance liquidity, including decreasing capital expenditures, to meet ongoing funding requirements despite challenges from the COVID-19 pandemic [119]. - The company’s ability to fund working capital needs and comply with financial covenants depends on future operating performance and external factors such as raw material costs and overall automotive industry conditions [119]. - As of September 30, 2021, approximately $98.7 million of repurchase authorization remained under the common stock repurchase program approved in June 2018 [123]. - The company has not made any repurchases under the stock repurchase program during the nine months ended September 30, 2021, or 2020 [123].

Cooper-Standard Holdings Inc. (NYSE:CPS) Q2 2021 Earnings Conference Call August 5, 2021 9:00 AM ET Company Participants Roger Hendriksen - Director of Investor Relation Jeffrey Edwards - Chairman and Chief Executive Officer Jonathan Banas - Executive Vice President and Chief Financial Officer Conference Call Participants Michael Ward - The Benchmark Company, LLC Brian DiRubbio - Robert W. Baird & Co. Michael Cazayoux - KDP Investment Advisors, Inc. Josh Taykowski - Credit Suisse Chris Wang - Barclays Bank ...

| --- | --- | |-------------------------------------------|-------| | | | | Driving Value Through Culture, | | | Innovation and Results | | | Second Quarter 2021 Earnings Presentation | | | August 5, 2021 | | Agenda 1. Introduction Roger Hendriksen | Director, Investor Relations c | --- | --- | |-------|-----------------------------------------------------------------------------| | | | | | Second Quarter Summary Jeff Edwards \| Chairman and Chief Executive Officer | | | Financial Overview Jon Banas \| Exec ...

Financial Performance - Sales for the three months ended June 30, 2021, increased by 56.6% compared to the same period in 2020, driven by vehicle production volume increases due to the non-recurrence of lengthy shutdowns from COVID-19 [94]. - The gross loss for the three months ended June 30, 2021, was $(933) thousand, an improvement of $59.4 million compared to a gross loss of $(60,371) thousand in the same period of 2020 [93]. - Operating loss for the three months ended June 30, 2021, was $(65,618) thousand, an improvement of $88.9 million compared to $(154,483) thousand in the same period of 2020 [93]. - The net loss attributable to Cooper-Standard Holdings Inc. for the three months ended June 30, 2021, was $(63,611) thousand, a decrease of $70.6 million from $(134,219) thousand in the same period of 2020 [93]. - Total sales for the three months ended June 30, 2021, were $533,185, an increase of $192,718 compared to $340,467 for the same period in 2020 [104]. - North America sales for the three months ended June 30, 2021, were $247,525, up from $126,337 in the same period in 2020, reflecting a change of $121,188 [104]. - Adjusted EBITDA for the three months ended June 30, 2021, was $(14,726,000), an improvement from $(93,752,000) in the prior year [118]. - The company reported a net loss of $63,611,000 for the three months ended June 30, 2021, compared to a net loss of $134,219,000 for the same period in 2020 [116]. Production and Sales Growth - Light vehicle production in North America for the three months ended June 30, 2021, was 3.2 million units, a 132.2% increase from 1.4 million units in the same period of 2020 [91]. - Sales for the six months ended June 30, 2021, increased by 20.8% to $1,202,152, compared to $995,357 for the same period in 2020, driven by vehicle production volume increases and foreign exchange [100]. - Total automotive sales for the six months ended June 30, 2021, reached $1.13 billion, up from $934.6 million in 2020, representing an increase of $198.1 million [107]. - The company reported a total automotive sales increase of $220.6 million due to volume and mix improvements, despite challenges from semiconductor supply issues [107]. Cost and Expense Management - Gross profit for the six months ended June 30, 2021, was $67,359, a significant improvement of 491.0% compared to a gross loss of $17,228 in the same period in 2020 [101]. - Gross profit margin for the six months ended June 30, 2021, was 5.6%, compared to a gross loss margin of (1.7)% for the same period in 2020 [101]. - Selling, administration, and engineering expenses for the six months ended June 30, 2021, were 9.0% of sales, down from 14.0% in the same period in 2020, due to lower variable employee compensation and divestitures [101]. - Net interest expense for the six months ended June 30, 2021, increased by $12.9 million compared to the same period in 2020, mainly due to a full six months of interest expense for Senior Secured Notes issued in May 2020 [103]. - The company incurred restructuring charges of $11,631,000 during the three months ended June 30, 2021 [118]. Economic Outlook - In North America, the economic growth is projected at approximately 6.0% for 2021, supported by historic levels of fiscal stimulus and rapid vaccine distribution [87]. - The global economy is expected to grow by approximately 5.6% in 2021, according to World Bank economists [87]. - In South America, the Brazilian economy is estimated to grow by approximately 4.5% in 2021 despite facing significant challenges from high COVID-19 infection rates [89]. Operational Challenges - The semiconductor supply issues in 2021 resulted in slowdowns and occasional stoppages in vehicle production, but improvements are expected in the second half of 2021 [91]. - The company highlighted the ongoing impact of the COVID-19 pandemic on its financial condition and operations, indicating significant risks to liquidity [122]. - The company noted potential variability in working capital requirements and risks associated with international operations, including changes in trade laws and currency fluctuations [122]. - The company emphasized the importance of maintaining effective controls and procedures to mitigate risks related to operational disruptions and legal challenges [122]. Cash Flow and Capital Expenditures - Net cash used in operations decreased to $60.7 million for the six months ended June 30, 2021, from $126.2 million in 2020, primarily due to working capital improvements [114]. - The company expects to spend approximately $100 million to $115 million on capital expenditures in 2021, reflecting a continued reduction in overall capital spending [114]. - The corporate segment reported an adjusted EBITDA loss of $0.2 million for the six months ended June 30, 2021, compared to a loss of $5.4 million in 2020, showing a change of $5.2 million [111]. - The company continues to actively preserve cash and enhance liquidity, including decreasing capital expenditures and monitoring liquidity situations closely [112]. - As of June 30, 2021, the company had approximately $98.7 million of repurchase authorization remaining under its stock repurchase program, with no repurchases made during the first half of 2021 [115]. Accounting and Risk Management - The company has not experienced significant changes in critical accounting estimates during the six months ended June 30, 2021 [121]. - There have been no material changes to the company's market risk disclosures from those previously reported in the 2020 Annual Report [123].

Financial Data and Key Metrics Changes - First quarter 2021 sales were $669 million, up 2.1% compared to the first quarter of 2020, with organic sales increasing approximately 6.3% when excluding divestitures and foreign exchange impacts [19][20] - Gross profit for the quarter was $68.3 million, an increase of 58.3% year-over-year, with gross profit margin rising 360 basis points to 10.2% [21] - Adjusted EBITDA was $38.5 million or 5.8% of sales, compared to $8.3 million or 1.3% of sales in the first quarter of 2020 [21][22] - The net loss for the quarter was $33.9 million, an improvement from a net loss of $110.6 million in the first quarter of 2020 [22] - Adjusted net loss was $14.5 million or $0.85 per diluted share, compared to an adjusted net loss of $36.5 million or $2.16 per diluted share in the first quarter of 2020 [23] Business Line Data and Key Metrics Changes - Manufacturing cost savings of $18 million were achieved in the quarter, offsetting volume losses due to external challenges [11] - A $10 million improvement in SGA&E expense and $10 million in purchasing savings were realized compared to the first quarter of last year [11] Market Data and Key Metrics Changes - The company outperformed market growth in each of its three major regions, with North America production levels up about 1% despite a market decline of 4.5% [20][87] - In Asia, the overall market was up about 46%, with China specifically up about 77%, while the company was up about 50.5% overall in Asia Pacific [85] Company Strategy and Development Direction - The company is focused on diversifying its business and leveraging growth in the electric vehicle (EV) market, expecting a potential 20% increase in content per vehicle compared to internal combustion platforms [42] - The strategy includes fixing underperforming operations and ensuring they contribute positively to profitability [45] - The company aims to maintain a cash cushion for liquidity amid ongoing volatility in the industry [32] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the driving value plan and related initiatives to improve earnings and cash generation over the next two years [33] - The outlook for light vehicle production is expected to increase significantly by the fourth quarter, with full-year results anticipated to be within previously provided guidance ranges [56] Other Important Information - The company was recognized by Ethisphere as one of the world's most ethical companies for the second consecutive year [13] - The company is committed to sourcing 100% of its electricity from renewable energy sources by 2025 and achieving a 100% waste diversion rate globally by 2025 [15] Q&A Session Summary Question: How did the company mitigate the impact of production schedule volatility? - Management highlighted effective cost management and flexibility in operations as key strategies to mitigate impacts from customer plant shutdowns [58][59] Question: What is the status of the technology development phase with the footwear customer? - The technical phase was completed successfully, and commercial negotiations are expected to begin soon [61] Question: What is the revenue base related to the $100 million of new business in the EV market? - Management indicated that the content per vehicle is trending up, with new models driving organic increases in business [63][64] Question: How sustainable are the SGA&E savings? - Management confirmed that the SGA&E savings are sustainable and part of a long-term strategy to align costs with the company's revenue base [68] Question: What is the impact of the chip shortage on production? - Management noted that trucks and SUVs are prioritized, which aligns with the company's revenue focus, as over 80% of revenue comes from these segments [71] Question: What are the expected commodity inflation impacts? - Management anticipates commodity inflation headwinds to increase to $25 million to $30 million, with ongoing efforts to offset these through supply chain initiatives [74] Question: What is the strategy for achieving $40 million in cost savings in Europe? - Management indicated that the costs are included in the restructuring forecast for the year, with a focus on improving operations and profitability [76] Question: How does the company plan to renegotiate contracts for indexing? - Management is making progress in negotiations with both customers and suppliers to increase indexed contracts, aiming to double the current percentage [110][112]

Driving Value Through Culture, Innovation and Results First Quarter 2021 Earnings Presentation May 7, 2021 Agenda 1. Introduction Roger Hendriksen | Director, Investor Relations 2 | --- | --- | |-------|----------------------------------------------------------------------------| | | | | | First Quarter Summary Jeff Edwards \| Chairman and Chief Executive Officer | | | Financial Overview Jon Banas \| Executive VP and Chief Financial Officer | | | Strategic Outlook Jeff Edwards | | | Q & A | 2 Forward-Lookin ...