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| MASTER LOCK - VALUE STATEMENT |
| A FRAME WORK FOR DECISION MAKING |
| WIN THE MARKET PLACE |
| Focus externally on customers, consumers, and competitors |
| BE RESPONSIVE |
| Provide the highest possible levels of customer satisfaction on the complete set of products and services offered. |
| DELIVER ON COMMITMENTS |
| To our customers, employees, and shareholders. |
| ENCOURAGE EMPLOYEES |
| Build employee ownership and business focus. Encourage entrepreneurial risk taking, openness, honesty, and learning from our mistakes. |
| WORK WITH A SENSE OF URGENCY |
| And a bias for stretch rather than frenzy |
| BECOME THE LOWEST TOTAL COST PROVIDER |
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