Automatically assign values for one column based on another column with options from second list

John603 What is the column/data type of Option and Option Coordinator column in the List 2?

If it is a single line of text, you can do this:

1. Create a lookup column in list 1 which will point to list 2
2. Use main column as option 
3. Extend lookup and use additional column for Option Coordinator in lookup settings: 

Check these documentations for more information:

1. Create list relationships by using lookup columns 
2. Create a column in a list or library 

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