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FORD MOTOR COMPANY

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Ford Motor : ESTABLISHES FORMAL SUPPLIER CONDUCT CODE FOR ENVIRONMENT, HUMAN RIGHTS, MATERIAL SOURCING AND ETHICAL BUSINESS PRACTICES

05/04/2021 | 11:40am EDT

Highlights:

Formal rules take place of guidelines; new public supplier code expands and formalizes suppliers' responsible business practices

Establishes extensive compliance in areas of protecting human rights and environment, responsibly sourcing raw materials, ethically conducting business

Code will help fulfill commitment to maintaining a responsible, eco-friendly and transparent company and supply chain

Ford is a member of the UN Global Compact and signatory to the UN Sustainability Development Goals

DEARBORN, Mich., - Ford has established a formal supplier code of conduct that applies clear expectations in areas related to human rights, the environment, responsible material sourcing and lawful business practices for every member of the company's supplier community.

Ford has outlined specific conduct guidelines for its suppliers since 2003; this code expands and publicly formalizes supplier accountabilities for responsible business practices.

'Caring for each other is a core tenet of the Ford plan and that includes safeguarding human rights, protecting the environment and requiring responsible sourcing and ethical practices,' said Jonathan Jennings, vice president, Global Commodity Purchasing and Supplier Technical Assistance. 'We hold our suppliers to the same high standards we require of ourselves, and this code formalizes the standards we'll work together to achieve.'

As a member of the UN Global Compact and signatory to the UN Sustainability Development Goals (SDGs), Ford expects suppliers to help the company and its supply chain be responsible, eco-friendly and transparent.

Under the new, mandatory code, each supplier must, in part:

Protect and respect human rights: This includes treating their workforce humanely and with dignity, following ethical recruiting practices - providing a healthy and safe working environment and refusing to tolerate child labor, modern slavery, forced labor or harassment of any kind.

Protect the environment: This includes complying with Ford's environmental requirements and policies, comprising all relevant national, regional, environmental, and chemical legislation; minimizing their impact on climate change, aligned with the Paris Climate Agreement; striving toward carbon neutrality; using recycled and renewable materials in packaging; and utilizing materials with reduced toxicity in their manufacturing processes.

Responsibly source materials: This includes providing information upon request to verify that materials in the products supplied to Ford have been sourced responsibly in accordance with Ford's Responsible Materials Sourcing Policy, and conducting due diligence and increasing transparency related to raw materials, especially materials sourced from conflict-affected or high- risk areas

Maintain responsible business practices: This includes conducting business free from bribery and corruption, maintaining effective privacy and cyber-security practices, and complying with applicable trade and custom rules.

'At Ford, we're not just doing business, we're helping to build a better world,' said Jennings. 'Our suppliers are a key part of that process.'

To learn more about Ford's sustainability leadership, progress and commitments, visit sustainability.ford.com.

About Ford Motor Company

Ford Motor Company (NYSE: F) is a global company based in Dearborn, Michigan. The company designs, manufactures, markets and services a full line of Ford trucks, utility vehicles, and cars - increasingly including electrified versions - and Lincoln luxury vehicles; provides financial services through Ford Motor Credit Company; and is pursuing leadership positions in electrification; mobility solutions, including self-driving services; and connected vehicle services. Ford employs approximately 186,000 people worldwide. For more information regarding Ford, its products and Ford Motor Credit Company, please visit corporate.ford.com.

(C) 2021 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2021 130 B - -
Net income 2021 3 136 M - -
Net cash 2021 3 155 M - -
P/E ratio 2021 19,4x
Yield 2021 0,28%
Capitalization 60 992 M 60 992 M -
EV / Sales 2021 0,44x
EV / Sales 2022 0,35x
Nbr of Employees 186 000
Free-Float 98,0%
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Number of Analysts 22
Average target price 15,19 $
Last Close Price 15,28 $
Spread / Highest target 17,8%
Spread / Average Target -0,59%
Spread / Lowest Target -28,0%
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Managers and Directors
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James D. Farley President, Chief Executive Officer & Director
John T. Lawler Chief Financial Officer & Vice President
William Clay Ford Executive Chairman
Kenneth E. Washington Chief Technology Officer
Hau Thai-Tang Chief Operations & Product Platform Officer
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