Eagers Automotive Limited · ASX:APE
Eagers Automotive — Investor Presentation (October 2025)
60 slides from Eagers Automotive's investor presentation, Oct 1, 2025
Slide 1: CanadaOne Auto, Mitsubishi Corporation and Equity Raising announcement
eqoers _. automotive 1 October 2025 Not for release or distribution in the United States Markets Announcements Office ASX Limited CanadaOne Auto Strategic investment by Eagers Automotive Mitsubishi Corporation Strategic investment in Eagers Automotive & easyauto123 Equity Raising Attached is the Inv
Slide 2: Strategic investments and Equity Raising
Not for release or distribution in the United States eQoe's _. Qu otive CanadGgOneaaaaaas Strategic investment by Eagers Automotive Mitsubishi (i eeieeeenenena Strategic investment in Eagers Automotive & easyauto123 Equity Raiguuus 1 October 2025 Keith Thornton | Chi Sophie Moore | Chief Fir
Slide 3: Important notice and disclaimer
Not for release or distribution in the United States ) Important notice and disclaimer Important notices and disclaimer This investor presentation (Presentation) has been prepared by Eagers Automotive Limited ABN 87 009 680 013 (Eagers or APE) in relation to (a) its proposed acquisition of a 65% equ
Slide 4: Important notice and disclaimer
Not for release or distribution in the United States ) Important notice and disclaimer Forward-looking statements, opinions and estimates provided in this Presentation are based on assumptions and contingencies which are subject to change without notice and involve known and unknown risks, uncertain
Slide 5: Disclaimer
Not for release or distribution in the United States ) Important notice and disclaimer Disclaimer The Entitlement Offer is partly underwritten’ by the Joint Lead Managers. A summary of the key terms of the underwriting agreement between Eagers and the Joint Lead Managersis provided on pages [#] to [
Slide 6: Our Team
Not for release or distribution in the United States ») Our Team Keith Thornton Sophie Moore Pat Priestner Chief Executive Director and Chief Founder and CEO Officer Financial Officer Eagers Automotive Eagers Automotive CanadaOne Limited Limited QOD Sein 5 | Strategic i it in CanadaOne, equity rai n
Slide 7: Agenda
fistribution in the United Stateg Agenda Overview: Strategic investments and equity raising Executive summary CanadaOne: Strategic investment by Eagers Automotive Mitsubishi Corporation: Strategic investment in Eagers Automotive and easyauto123 Funding & proforma financials Appendices
Slide 8: Overview: Strategic investments and equity raising
Slide 9: Overview: Strategic investments and Equity Raising
Not for release or distribution in the United States ) Overview: Strategic investments and Equity Raising APE: CanadaOne Investment Strategic acquisition of a 65% equity interest in CanadaOne Auto . (CanadaOne) for C$953 million (or A$1,043' million) [Acquisition] (AS386 million in scrip & A$658 mil
Slide 10: Executive Summary
a4) ie bisa i 6! _beorgian ii Wl Executive Summary
Slide 11: Transaction summary
Not for release or distribution in the United States ) Transaction summary Compelling opportunity for Eagers Automotive to enter highly attractive market with industry leading partner Strategic . Investment in CanadaOne Strategic acquisition of a 65% equity interest in CanadaOne for C$953 million (o
Slide 12: Transaction summary
Not for release or distribution in the United States ) Transaction summary Immediately mid-teens EPS accretive! strategic investment with a balanced funding mix to optimise shareholder value Eanedcone Turnover Adjusted Adjusted Property Financial Metrics H SeinierA H Boll : LTM June 2025 j AS55 bill
Slide 13: Transaction structured to align interests
Not for release or distribution in the United States ) Transaction structured to align interests Strong alignment of interests between Eagers and the Founder creates platform for continued value creation Equity component of the transaction 8332 Deal Structure creates immediate alignment l T Pat Prie
Slide 14: CanadaOne and Eagers — to grow together
Not for release or distribution in the United States } CanadaOne and Eagers — to grow together && Our objective has been to pursue international growth with a partner that has deep industry experience, extensive industry talent, high quality brand partnerships and a long growth runway. We believe we
Slide 15: CanadaOne: Strategic investment by Eagers Automotive
CanadaOne: Strategic investment by Eagers Automotive
Slide 16: Eagers and CanadaOne are culture driven businesses
Not for release or distribution in the United States ) Eagers and CanadaOne are culture driven businesses Grow a bigger business Build a better business Business Optimisation Building a sustainable business with disciplined capital allocation Business Sustainability Be good people, do good things @9
Slide 17: CanadaOne - financial highlights
Not for release or distribution in the United States CanadaOne - financial highlights Driven by vision, powered by performance: CanadaOne's founder-led network delivers an extensive reach across five provinces a i= i AS$5.5bn 32% A$334m ~ A$221m aaod 1S = 4.0% AS$714m ~ AS$519m 1.55x fe CAGR from 1
Slide 18: CanadaOne - operational highlights
Not for release or distribution in the United States CanadaOne - operational highlights "The best brands, The best people, The best locations” 42 20 ~3,500 ~980 109% 12 Measures the percentage of a dealership’s total fixed operating expenses covered by the gross profits generated from its parts and
Slide 19: Extensive network of dealerships across five provinces
Not for release or distribution in the United States Extensive network of 42 dealerships across five provinces... Alberta oundary Ford 11 locations British Columbia ind Ford 6 locations 18 | Strategic investment in CanadaOne, equity raising and investment from Mitsubishi Corporation 1 location Saska
Slide 20: Leading Partner to the Top selling OEMs in Canada
Not for release or distribution in the United States ) Leading Partner to the Top 3 selling OEMs in Canada CanadaOne’s dealerships per province Province WN Sct D ee Other Total 9 Alberta 4 2 British Columbia 2 1 4 Manitoba 1 Ontario 13 Saskatchewan Total 9 10 FY24 New Unit Sales(%) 28% 19% 31% 78% 2
Slide 21: CanadaOne's philosophy is simple...
Not for release or distribution in the United States }) CanadaOne’s philosophy is simple... The best brands, the best people and the best locations & = @rovow : TOYOTA Toyots on the Pask Toyo! }e Park, Toror ic (<2) rs automotive 20 | Strategic investment in C One, equity raising and investment from
Slide 22: CanadaOne's philosophy is simple...
Not for release or distribution in the United States } CanadaOne’s philosophy is simple... The best brands, the best people and the best locations Waterloo Ford, Edmonton, Alberta & Sa@motive 21 | Strategic investment in CanadaOne, equity raising and investment from Mitsubishi Corporation
Slide 23: CanadaOne's philosophy is simple...
Not for release or distribution in the United States } CanadaOne’s philosophy is simple... The best brands, the best people and the best locations , SEORGIAN [EE —7n: Georgian Chevrolet Buick GMC, Barrie, Ontario & Sa@motive 22 | Strategic investment in CanadaOne, equity raising and investment from
Slide 24: CanadaOne's philosophy is simple...
Not for release or distribution in the United States } CanadaOne’s philosophy is simple... Best brands, best locations, and the best people Stra Brand Representation! MITSUBISHI MOTORS SUBARU TOYOTA HONDA HYUNDAI © . 3 LINCOLN & Sa@motive om Mi
Slide 25: CanadaOne's success factors
Not for release or distribution in the United States } CanadaOne's success factors Dealer-Partner model is fundamental to the CanadaOne culture and has underpinned strong long-term performance Dealer Partner Model Fastest Growing Group + Provides ownership opportunities to Dealer- + Retains high qua
Slide 26: CanadaOne's strong financial track record
Not for release or distribution in the United States } CanadaOne’s strong financial track record CanadaOne has achieved significant growth in revenue and earnings j 1 Revenue (ASbn) Adjusted EBITDA’ (ASm) justed Re it before tax CAGR +32% FY22 FY23 FY24 LT™ Growth driven by well balanced mix of orga
Slide 27: Highly strategic and financially attractive acquisition
Not for release or distribution in the United States ) Highly strategic and financially attractive acquisition = Global expansion into a large & highly attractive market that has consistently generated stable long- term returns = Partnership with one of Canada’s largest & most successful dealership
Slide 28: Strong alignment with highly successful Canadian leadership
team... Not for release or distribution in the United States ) Strong alignment with highly successful Canadian leadership The transaction structure maximises alignment with Management, with Pat Priestner' receiving a significant number of Exchangeable Shares that will convert 1:1 into Eagers shares
Slide 29: Entry into highly attractive Canadian market
Not for release or distribution in the United States ) Entry into highly attractive Canadian market Key features of Canadian market Market Size OEM scale Higher throughput Stable business model FY24 New Vehicle +) Sales per brand (pv24 New Vehicle Sales ('000s)' FY24 Number of brands ('000s)? 36.0 1
Slide 30: Significant strengthening of global OEM relationships
Not for release or distribution in the United States ) Significant strengthening of global OEM relationships Strengthening OEM partnerships through strategic alignment and market expansion oro Fagers gm (v) Largest Partner (v) <= (v) Largest Partner (v) Largest Partner LP. mirsueisi ‘morons: a) ACUR
Slide 31: Mitsubishi Corporation: Strategic investment in Eagers Automotive and easyauto123
Mitsubishi Corporation: Strategic investment in Eagers Automotive —— an . easyauto123
Slide 32: Mitsubishi Corporation's investment in Eagers Automotive
Not for release or distribution in the United States ) Mitsubishi Corporation's! investment in Eagers Automotive Mitsubishi a History of more than 60 years developing and operating mobility Corporation businesses in ASEAN? markets * Global value chain spanning production, sales, distribution, financ
Slide 33: Mitsubishi Mobility Division - partnership with Eagers
Not for release or distribution in the United States ) Mitsubishi Mobility Division - partnership with Eagers Excerpt from Eagers ASX announcement on 11 August 2025 Bringing our strategic partnership to life Eagers Automotive and Mitsubishi Corporation form strategic alliance creources thot it hos e
Slide 34: easyauto123 - the opportunity is massive, execution is key
Not for release or distribution in the United States }) easyauto123 - the opportunity is massive, execution is key i Unique to = >» ik = easyauto123 Market Size Sourcing so Qn, & “i Ss .. %, gfe id ©) e S Multiplier o 5 2 Effect | g © 2: : wie Oo 3 Competitive 3 a a e Advantage 2 O° 0 3 ~~) ont 2 O
Slide 35: Funding & Proforma Financials
Not for release or distribution in the United States Funding & Proforma Financials
Slide 36: Sources and uses of funds
}) Sources and uses of funds Transaction to be funded with a combination of equity and debt — pro-forma leverage of 1.20x at LTM June 2025 Acquisition funding details Exchangeable Shares Entitlement Offer Placement Strategic investment in easyauto123 Debt Funding Timing and conditions | Strategic in
Slide 37: Entitlement Offer overview 1/2
Not for release or distribution in the United States ) Entitlement Offer overview 1/2 Entitlement Offer of approximately AS452 million comprising: = 1 for 12 pro-rata accelerated non-renounceable entitlement offer to raise a total of approximately AS452 million Offer Structure & Size (Entitlement Of
Slide 38: Entitlement Offer overview 2/2
Not for release or distribution in the United States ) Entitlement Offer overview 2/2 = The Retail component of the Entitlement Offer (Retail Entitlement Offer) is expected to open at 9:00am (AEDT) on Wednesday, 8 October 2025 and close at 5:00pm (AEDT) on Monday 27%" October 2025! = Eligible retail
Slide 39: Pro-forma balance sheet
) Pro-forma balance sheet Pro-forma Consolidated 30-Jun-2025 (ASm) Eagers CanadaOne 100% 100% Other adjustments Pro-forma Current assets 3,011 1,057 (22) 4,046 Non-current assets 2,906 1,607 1314 5,826 Total assets 5,917 2,664 1,292 9,872 Current liabilities 2,995 857 3,853 Non-current liabilities 1
Slide 40: Pro-forma underlying income statement
Not for release or distribution in the United States ) Pro-forma underlying income statement Pro-forma Underlying Consolidated LTM 30-Jun-2025 (ASm) Eagers Underlying 100% CanadaOne Other 100% adjustments icafoing Revenue 12,226.2 5,460.9 - 17,687.1 Adjusted EBITDA 581.2 334.3 Depreciation and Amort
Slide 41: Entitlement Offer timeline
Not for release or distribution in the United States D Entitlement Offer timeline Event Date! Trading Halt, announcement of acquisition, Equity Raising Wednesday, 1 October Institutional Entitlement Offer and Placement bookbuild opens Wednesday, 1 October Institutional Entitlement Offer and Placemen
Slide 42: Appendix
Appendix
Slide 43: Glossary
} Glossary Not for release or distribution in the United States Item Definitions AS Australian Dollar AASB Australian Accounting Standards Board Adjusted EBITDA EBITDA, normalised for one-off, non-recurring items identified during due diligence. Adjusted PBT Underlying PBT, normalised for one-off, n
Slide 44: Glossary
) Glossary Not for release or distribution in the United States Item Definitions . The right to subscribe for 1 New Share for every 12 existing shares held by eligible shareholders on the Record Date, pursuant to Entitlement ‘ the Entitlement Offer Entitlement Offer The accelerated non-renounceable
Slide 45: Glossary
) Glossary Not for release or distribution in the United States Item Definitions Institutional Entitlement Offer Institutional component of the Entitlement Offer Institutional Shares offered to Institutional Investors under the Institutional Entitlement Offer including the Shares which would have be
Slide 46: Glossary
} Glossary Item Not for release or distribution in the United States Definitions Operating Company CanadaOne companies under which the CanadaOne dealerships operate. Ronn eptiay Equity raising by Eagers, comprising the Placement and Entitlement Offer Offer Price AS21 per New Share, being the price t
Slide 47: Glossary
} Glossary Item Not for release or distribution in the United States Definitions Put Option The agreement that provides entities associated with Pat Priestner option to sell the shares in CanadaOne to Eagers, and Eagers Agreement the obligation to buy such shares. QiB a “qualified institutional buye
Slide 48: Key risks
Not for release or distribution in the United States ) Key risks Risks specific to CanadaOne Acquisition 0 Completion of the proposed Acquisition of CanadaOne is conditional on various matters including, receipt of Investment Canada Act clearance and approval from the Competition Bureau of Canada. I
Slide 49: Key risks
Not for release or distribution in the United States ) Key risks Risks specific to CanadaOne Acquisition 9 {As part of the consideration for the Acquisition, approximately 214 millon Exchangeable Shares (that ore exchangeable intoan equal number of Eagers Shares in accordance with their terms) will
Slide 50: Key risks
Not for release or distribution in the United States p Key risks Risks relating to an investment in Eagers (business risks) International expansion will require management focus and resources, with the success of any expansion efforts dependent on various factors, including the merged group's abilit
Slide 51: Key risks
Not for release or distribution in the United States Key risks Risks relating to an investment in Eagers (business risks) Ability to There is a risk that Eagers and/or CanadaOne may become unable to service or refinance their existing debts, or obtain new debt, on acceptable terms or at all, dependi
Slide 52: Key risks
Not for release or distribution in the United States ) Key risks Risks relating to an investment in Eagers (business risks) . Both EScete and CanadaOne have significant investments in real property. Anything which has a material impact on the value of the property may adversely impact financial perf
Slide 53: General investment risks
Not for release or distribution in the United States ) Key risks General investment risks ‘There are general risks associated with investments in equity capital. This may result in the market price for Shares being less or more than the implied value of the Offer Price. General factors which Risisee
Slide 54: Summary of underwriting agreements
Not for release or distribution in the United States }) Summary of underwriting agreements Eagers has entered into an underwriting agreement with the Joint Lead Managers, Barrenjoey Markets Pty Limited and Morgans Corporate Limited to manage and partly underwrite the Entitlernent Offer on the terms
Slide 55: Summary of underwriting agreements
Not for release or distribution in the United States }) Summary of underwriting agreements Termination = Any of the following occurs: +" Anappiicationis made to a government agency (including the Takeovers Panel or court but excluding ASIC) for an order or declaration or other remedy; "Any other gov
Slide 56: Summary of Exchangeable shares
Not for release or distribution in the United States } Summary of Exchangeable shares C$350m (A$385.7m1) of Acquisition consideration to be issued to an entity controlled by Pat Priestner in the form of Exchangeable Shares Shares "21,429,009 Exchangeable Shares to be issued at a price of A$18.00 per
Slide 57: International offer restrictions
Not for release or distribution in the United States D International offer restrictions This document does not constitute an offer of new ordinary shares ("New Shares") of the Company in any jurisdiction in which it would be unlawful. In particular, this document may not be distributed to any person
Slide 58: International offer restrictions
Not for release or distri D International offer restrictions Singapore This document and any other materials relating to the New Shares have not been, and will not be, lodged or registered as a prospectus in Singapore with the Monetary Authority of Singapore. Accordingly, this document and any other
Slide 59: Thank you
&) qu tive Thank you
Slide 60: eagersautomotive.com.au
¢ Qu ive 5 Edmund Street Newstead QLD 4006 eagersautomotive.com.au ABN 87 009 680 013
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