Core Molding Technologies Initiates Quarterly Cash Dividend of $0.05 Per Share

COLUMBUS, Ohio–(BUSINESS WIRE)–Core Molding Technologies, Inc. (NYSE American: CMT) (“Core Molding” or
the “Company”) today announced that its Board of Directors has
authorized the payment of a quarterly cash dividend, the first in the
Company’s history. The announcement highlights the Company’s confidence
in its operational performance, expected growth and long-term strategy.

Dividend Highlights

• Initiating a regular quarterly cash dividend of $0.05 per share. The
  first quarterly dividend will be payable on August 30, 2017 to all
  common shareholders of record as of August 18, 2017.
• The dividend initiation does not diminish the Company’s ability to
  deploy capital for organic growth opportunities or potential
  acquisitions.
• Strong balance sheet and free cash flow generation supports an ongoing
  shareholder payout.

“Our decision to declare a quarterly dividend is the result of our
strong balance sheet and profitability, even throughout the downcycle of
our key heavy-duty truck end market,” said Kevin Barnett, President and
Chief Executive Officer. “Today’s announcement reflects our confidence
in our ability to continue to generate consistent profitability,
enabling us to invest in the growth of our business, both organically
and through acquisitions, while at the same time, enhancing returns to
our shareholders.”

About Core Molding Technologies, Inc.

Core Molding Technologies, Inc. is a manufacturer of sheet molding
compound (SMC) and molder of fiberglass reinforced thermoset and
thermoplastic materials. Core specializes in large-format moldings and
offers a wide range of fiberglass processes, including compression
molding of SMC, glass mat thermoplastics (GMT) and bulk molding
compounds (BMC); compression and transfer molding of direct long-fiber
thermoplastics (D-LFT); spray-up, lay-up, resin transfer (RTM) and
vacuum resin transfer molding (V-RTM). Additionally, the company offers
reaction injection molding (RIM) of dicyclopentadiene (DCPD). Core
serves a wide variety of markets, including the medium and heavy-duty
truck, marine, automotive, agriculture, construction and other
commercial products markets. Headquartered in Columbus, Ohio, Core
maintains plants in Columbus and Batavia, Ohio; Gaffney, South Carolina;
Winona, Minnesota; and Matamoros, Mexico. For further information, visit
the company’s website at www.coremt.com.

This press release may contain certain forward-looking statements
within the meaning of the federal securities laws. As a general matter,
forward-looking statements are those focused upon future plans,
objectives or performance as opposed to historical items and include
statements of anticipated events or trends and expectations and beliefs
relating to matters not historical in nature. Such forward-looking
statements involve known and unknown risks and are subject to
uncertainties and factors relating to Core Molding Technologies’
operations and business environment, all of which are difficult to
predict and many of which are beyond Core Molding Technologies’ control.
Words such as “may,” “will,” “could,” “would,” “should,” “anticipate,”
“predict,” “potential,” “continue,” “expect,” “intend,” “plans,”
“projects,” “believes,” “estimates,” “confident” and similar expressions
are used to identify these forward-looking statements. These
uncertainties and factors could cause Core Molding Technologies’ actual
results to differ materially from those matters expressed in or implied
by such forward-looking statements. Except as required by law, Core
Molding Technologies Inc. undertakes no obligation to update these
forward looking statements.

Core Molding Technologies believes that the following factors, among
others, could affect its future performance and cause actual results to
differ materially from those expressed or implied by forward-looking
statements made in this report: business conditions in the plastics,
transportation, marine and commercial product industries (including
slowdown in demand for truck production); federal and state regulations
(including engine emission regulations); general economic, social,
regulatory (including foreign trade policy) and political environments
in the countries in which Core Molding Technologies operates; safety and
security conditions in Mexico; dependence upon certain major customers
as the primary source of Core Molding Technologies’ sales revenues;
efforts of Core Molding Technologies to expand its customer base; the
ability to develop new and innovative products and to diversify markets,
materials and processes and increase operational enhancements; the
actions of competitors, customers, and suppliers; failure of Core
Molding Technologies’ suppliers to perform their obligations; the
availability of raw materials; inflationary pressures; new technologies;
regulatory matters; labor relations; the loss or inability of Core
Molding Technologies to attract and retain key personnel; the Company’s
ability to successfully identify, evaluate and manage potential
acquisitions and to benefit from and properly integrate any completed
acquisitions; federal, state and local environmental laws and
regulations; the availability of capital; the ability of Core Molding
Technologies to provide on-time delivery to customers, which may require
additional shipping expenses to ensure on-time delivery or otherwise
result in late fees; risk of cancellation or rescheduling of orders;
management’s decision to pursue new products or businesses which involve
additional costs, risks or capital expenditures; inadequate insurance
coverage to protect against potential hazards; equipment and machinery
failure; product liability and warranty claims; and other risks
identified from time to time in Core Molding Technologies’ other public
documents on file with the Securities and Exchange Commission, including
those described in Item 1A of the 2016 Annual Report on Form 10-K.

Contacts

Core Molding Technologies, Inc.
John Zimmer, 614-870-5604
Vice
President & Chief Financial Officer
[email protected]
or
Investor
Relations:
The Equity Group Inc.
Fred Buonocore,
212-836-9607
[email protected]
or
Kevin
Towle, 212-836-9620
[email protected]