Ouster Introduces Sustainability Program to Drive Increased Safety, Efficiency and Equity Across its Industries, Business Operations, and Communities

Establishes ESG Advisory Committee to guide the Company’s sustainable business practices

SAN FRANCISCO--(BUSINESS WIRE)-- Ouster, Inc. (NYSE: OUST) (“Ouster” or “the Company”), a leading provider of high-resolution digital lidar sensors for the automotive, industrial, smart infrastructure, and robotics industries, today formalized its commitment to building a safer and more sustainable future with the introduction of an integrated and ambitious Sustainability Program.

Ouster’s Sustainability Program is predicated on the founding principle of its business: to innovate and deliver technologies that lead to safer vehicles, transportation networks, workplaces, and infrastructure for more sustainable communities. The Company intends to execute on its long-term strategic priorities alongside its Sustainability Program to have a positive impact on its communities and the planet.

Ouster established an internal Environmental, Social, and Governance (ESG) Advisory Committee to continue building out, improving, tracking, and reporting on its Sustainability Program across three core pillars: (i) Environmental and Operational Excellence, (ii) Human Capital and Corporate Citizenship, and (iii) Product Impact. Ouster aims to align its best practices and future reporting to the shared blueprint outlined within the United Nations' Sustainable Development Goals.

“Ouster is poised to have a large-scale impact on society through the multitude of applications and industries we serve with digital lidar, from safer roads and vehicles to a more sustainable supply chain,” said Ouster CEO Angus Pacala. “We believe we can accelerate value creation by answering society’s increasing demand for safer and more sustainable solutions. This effort is expected to make us a stronger partner for customers, a preferred place for our employees to work, and a more attractive investment. Ultimately, this initiative will benefit our company, our stakeholders, and communities around the world.”

To learn more about Ouster’s Sustainability Program, visit: https://investors.ouster.com/sustainability.

About Ouster

Ouster (NYSE: OUST) is building a safer and more sustainable future through its high-resolution digital lidar sensors for the automotive, industrial, smart infrastructure, and robotics industries. Ouster’s sensors offer an excellent combination of price and performance with the flexibility to span hundreds of use-cases and enable revolutionary autonomy across industries. With a global team and high-volume manufacturing, Ouster supports approximately 600 customers in over 50 countries. Ouster is headquartered in San Francisco, CA with offices in the Americas, Europe, Asia-Pacific, and the Middle East. For more information, visit www.ouster.com, or connect with us on Twitter or LinkedIn.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding Ouster’s financial outlook, market positioning, and anticipated results from its ESG efforts. Forward-looking statements give Ouster’s current expectations and projections relating to its financial condition, competitive position, results of operations, plans, objectives, future performance and growth, potential revenue opportunity from Strategic Customer Agreements, including the potential for doubling performance and revenue in 2022, future orders, total addressable market, and business. Any statements regarding the doubling of the Company’s contracted revenue opportunity do not speak to expectations for any periods beyond 2022. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate”, “estimate”, “expect”, “project”, “plan”, “intend”, “believe”, “may”, “will”, “should”, “can have”, “likely” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that we expected, including: Ouster’s limited operating history and history of losses; the negotiating power and product standards of its customers; fluctuations in its operating results; cancellation or postponement of contracts or unsuccessful implementations; the adoption of its products and the growth of the lidar market generally; its ability to grow its sales and marketing organization; substantial research and development costs needed to develop and commercialize new products; the competitive environment in which it operates; selection of our products for inclusion in target markets; its future capital needs; its ability to use tax attributes; its dependence on key third party suppliers, in particular Benchmark Electronics, Inc., and manufacturers; ability to maintain inventory and the risk of inventory write-downs; inaccurate forecasts of market growth; its ability to manage growth; the creditworthiness of our customers; risks related to acquisitions; risks related to international operations; risks of product delivery problems or defects; costs associated with product warranties; its ability to keep its competitive edge and maintain competitive average selling prices or high sales volumes or reduce product costs; conditions in its customers industries; its ability to recruit and retain key personnel; its use of professional employer organizations; its ability to timely and adequately protect and enforce its intellectual property rights; its ability to effectively respond to evolving regulations and standards; risks related to operating as a public company; risks related to the COVID-19 pandemic; and other important factors discussed in the Company’s final prospectus and definitive proxy statement, dated February 12, 2021, filed with the Securities and Exchange Commission (the “SEC”), as updated by the factors disclosed in the section titled “Risk Factors” in its final prospectus filed with the SEC and dated August 19, 2021 and in Form 10-K filed with the SEC on February 28, 2022. Any such forward-looking statements represent management’s estimates and beliefs as of the date of this press release. While Ouster may elect to update such forward-looking statements at some point in the future, other than as required by law, it disclaims any obligation to do so, even if subsequent events cause its views to change.

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Ouster:

For Investors

Sarah Ewing

investors@ouster.io

For Media

Heather Shapiro

press@ouster.io

Source: Ouster, Inc.