Asbury Automotive Group Inc · NYSE:ABG

Asbury Automotive — Merger or Acquisition (September 2021)

14 slides from Asbury Automotive's merger presentation, Sep 29, 2021

  1. Slide 1: Acquisition of Larry H. Miller Dealerships & Total Care Auto, Powered by Landcar

    1 © Asbury Automotive Group 2021. All rights reserved.NYSE | ABG Acquisition of Larry H. Miller Dealerships & Total Care Auto, Powered by Landcar September 29, 2021 © Asbury Automotive Group 2021. All R ghts Reserved (NYSE: ABG)

  2. Slide 2: Forward-looking statements

    2 © Asbury Automotive Group 2021. All rights reserved.NYSE | ABG To the extent that statements in this presentation are not recitations of historical fact, such statements constitute "forward-looking statements" as such term is defined in the Private Securities Litigation Reform Act of 1995. The for

  3. Slide 3: Legal Disclaimer

    3 © Asbury Automotive Group 2021. All rights reserved.NYSE | ABG The information contained in this presentation (including the forward-looking statements) are made as of the date hereof, unless otherwise expressly stated herein. They are subject to change without notice and, except as may be require

  4. Slide 4: Asbury Automotive Group overview

    4 © Asbury Automotive Group 2021. All rights reserved.NYSE | ABG  Best-in-class SG&A cost structure  Best-in-class operating margins  Operational excellence with omni- channel initiatives driving sales, efficiencies and guest experience  Disciplined acquisition strategy targeting high quality as

  5. Slide 5: Larry H. Miller Dealerships and Total Care Auto Overview

    5 © Asbury Automotive Group 2021. All rights reserved.NYSE | ABG Larry H. Miller Dealerships and Total Care Auto, Powered by Landcar(1) Overview 8th LARGEST dealership group in the US(2) FAMILY-OWNED business since 1979 54 new vehicle dealerships; 7 used vehicle dealerships; 11 collision centers 18

  6. Slide 6: TCA Offerings

    6 © Asbury Automotive Group 2021. All rights reserved.NYSE | ABG TCA Offerings Vehicle service contracts  Extensive list of vehicle parts and systems  High sales and service retention Prepaid maintenance  Customizable plans  Oil and filter changes, lubrication Protection plans  Vehicle theft as

  7. Slide 7: Transaction Highlights

    7 © Asbury Automotive Group 2021. All rights reserved.NYSE | ABG Transaction Highlights Meaningfully increases Asbury’s scale and creates the 4th largest US automotive retailer1 Strong portfolio of dealerships with a long history of operational excellence and valuable brands2 Enhancing presence in t

  8. Slide 8: Significantly Increases Asbury's Scale

    8 © Asbury Automotive Group 2021. All rights reserved.NYSE | ABG $20.4 $20.0 $17.9 $14.2 $13.1 $12.6 $9.9 $8.0 $5.3 $4.4 $15.5 $15.5 $8.0 $10.9 $9.8 $8.9 $5.3 $5.7 $0.9 $0.9 $4.5 $2.2 $2.8 $0.0 $4.0 $8.0 $12.0 $16.0 $20.0 $24.0 AutoNation Lithia Penske Asbury + LHM + Stevinson/LOIs Group 1 Sonic Hen

  9. Slide 9: Pro Forma Asbury / LHM Geographic Presence

    9 © Asbury Automotive Group 2021. All rights reserved.NYSE | ABG Pro Forma Asbury / LHM Geographic Presence(1) Source: IHS Markit, US Census Bureau (1) Includes new and used dealerships; excludes collision centers Metropolitan Area Macro Trends ('20-'25 CAGR) 5.1% 6.2% 3.7% 4.8% 1.3% 3.0% Salt Lake

  10. Slide 10: Dealership Portfolio Aligned to Customer Brand Preferences

    10 © Asbury Automotive Group 2021. All rights reserved.NYSE | ABG 263 203 163 145 143 108 89 89 77 67 0 50 100 150 200 250 300 Toyota CDJR Ford Honda Chevrolet Subaru Hyundai Nissan Kia Buick GMC Import Domestic Dealership Portfolio is Highly Aligned to Customer Brand Preferences in its Markets Top

  11. Slide 11: Diverse Pro Forma Brand Portfolio

    11 © Asbury Automotive Group 2021. All rights reserved.NYSE | ABG 16% 12% 4% 3% 2% 3% 10% 8% 4% 3% 2% 1% 1% 3% 15% 7% 4% 2% Asbury’s Diverse Pro Forma Brand Portfolio Strategically Aligns to Customer Preferences Across All of its Markets Import - 40% Luxury - 32% Domestic - 28% (Based on New Vehicle

  12. Slide 12: Update On Five Year Plan

    12 © Asbury Automotive Group 2021. All rights reserved.NYSE | ABG Update On Five Year Plan(1) The acquisition of Larry H. Miller Dealerships continues Asbury’s strategic plan to acquire premier assets in high-growth, desirable markets across the US $8B $2B $5B $20B Same Store Acquisitions 2020 2025~

  13. Slide 13: Summary Highlights

    13 © Asbury Automotive Group 2021. All rights reserved.NYSE | ABG Summary Highlights Financial Impact  Transaction valued at ~$3.2B, including $740M in real estate  Reflects ~6x multiple for Larry H. Miller Dealerships(1) and ~10x multiple for TCA  Adds ~$360M of EBITDA including day-one cost sav

  14. Slide 14: Q&A

    14 © Asbury Automotive Group 2021. All rights reserved.NYSE | ABG Q&A

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